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Greens discuss BP boycott as CEO taken out of firing line

Green politicians are discussing the idea of a boycott of BP and its Aral petrol stations in Germany, in the light of the multi-national’s failure to prevent or stop the oil leak in the Gulf of Mexico.

Greens discuss BP boycott as CEO taken out of firing line
Photo: DPA

After BP saved money on safety measure and after months of failure in stopping the leak, the time has come for a different approach, said Winfried Hermann, chairman of the parliamentary transport committee.

“I personally will no longer use any BP products and consider it sensible if consumers show this irresponsible company the red card,” he said.

Tübingen mayor Boris Palmer also supports the idea of a boycott because, he said, “reduced turnover at BP should make other oil multinationals reconsider.”

But the Green party leadership has not joined the calls for a boycott, and environmental groups such as Greenpeace and BUND, have decided against such a move, concentrating instead on encouraging people to reduce their use of oil in general.

The petrol station chain Aral, which has belonged to BP since 2002, has not registered any reduced turnover.

BP announced on Friday evening that chief executive Tony Hayward, who has come in for enormous criticism over his role in handling the leak, will be replaced in leading the operation to Robert Dudley, the company’s managing director of the Americas and Asia.

BP chairman Carl-Henric Svanberg told the UK’s Sky News he would also be personally taking a larger role in trying to control damage to the company from the spill and resulting environmental devastation.

“This has now turned into a reputation matter, a financial squeeze for BP, and a political matter, and that is why you will now see more of me,” he said.

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BUSINESS

France’s EDF hails €10billion profit, despite huge UK nuclear charge

French energy giant EDF has unveiled net profit of €10billion and cut its massive debt by increasing nuclear production after problems forced some plants offline.

France's EDF hails €10billion profit, despite huge UK nuclear charge

EDF hailed an “exceptional” year after its loss of €17.9billion in 2022.

Sales slipped 2.6 percent to €139.7billion , but the group managed to slice debt by €10billion euros to €54.4billion.

EDF said however that it had booked a €12.9 billion depreciation linked to difficulties at its Hinkley Point nuclear plant in Britain.

The charge includes €11.2 billion for Hinkley Point assets and €1.7billion at its British subsidiary, EDF Energy, the group explained.

EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns.

“The year was marked by many events, in particular by the recovery of production and the company’s mobilisation around production recovery,” CEO Luc Remont told reporters.

EDF put its strong showing down to a strong operational performance, notably a significant increase in nuclear generation in France at a time of historically high prices.

That followed a drop in nuclear output in France in 2022. The group had to deal with stress corrosion problems at some reactors while also facing government orders to limit price rises.

The French reactors last year produced around 320.4 TWh, in the upper range of expectations.

Nuclear production had slid back in 2022 to 279 TWh, its lowest level in three decades, because of the corrosion problems and maintenance changes after
the Covid-19 pandemic.

Hinkley Point C is one of a small number of European Pressurised Reactors (EPRs) worldwide, an EDF-led design that has been plagued by cost overruns
running into billions of euros and years of construction delays.

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