A worker collects engine oil as he works at a degassing station in Zubair oil field near Basra, Iraq
ENERGY firms raked in an excess of £6 billion in Iran war windfall profits this year, it was revealed today as households brace for yet another bill rise at the end of the month.
Campaigners said profits generated in Britain by these companies equate to over £200 for every household in the country, while a further increase in gas prices is expected in the next Ofgem price cap announcement on August 26.
Financial results posted by the world’s top energy firms revealed their British profits are only one part of their global profits, totalling £95bn in 2026.
Analysis from the End Fuel Poverty Coalition (EFPC) revealed the excess profits linked to global energy market disruptions as a result of the US war on Iran, which has increased cost pressures on households in Britain, as well as other countries.
Researchers looked at financial results posted by BP, Centrica, Chevron, Equinor, ExxonMobil, Iberdrola, Shell and Total.
EFPC co-ordinator Simon Francis said windfall profits must be considered alongside previous findings saying a third of households are “on the brink of, or are in energy debt.”
“These price shock profiteers are doing very well out of the Iran conflict, but they are doing little to solve the underlying problems,” Mr Francis said.
“As people brace for the next price cap announcement on August 26 and a third of households are on the brink of or in energy debt, the energy industry watches the profits climb.”
Last year, when UN Secretary General António Guterres said PR firms were “acting as enablers to planetary destruction” by working for fossil fuel clients, he didn’t name WPP specifically. But they were the main company he was talking about. The advertising behemoth has more clients in the oil industry than any rival.
Guterres, being a diplomat, uses mild language. In my opinion, WPP is the world’s leading spin doctor for planetary death.
And so I was surprised when I checked in on who David Lammy had appointed to the Foreign Office supervisory board, to see WPP’s recent UK President Karen Blackett is now one of the four non-executive directors – as I revealed last week over on Democracy for Sale.
The supervisory board provides “strategic direction,” and “oversight” for the department. Adverts for the roles say they are “significant contributors to both the operational and strategic leadership of the department. Their primary objective is to bring independent advice, support and challenge… helping to shape the department’s work.”
In February, lawyers for campaign group Badvertising and others submitted a complaint about WPP to the Organisation for Economic Co-operation and Development, arguing it was breaching its international guidelines on corporate responsibility. Its work for a number of fossil fuel and pollution intensive corporations, the lawyers said, “directly increases demand for carbon intensive products and undermines global efforts to reduce greenhouse gas emissions”.
Why is that an organisation whose recently departed UK boss you’d want overseeing British foreign policy? Blackett spent 29 years working for WPP – three decades as a spin doctor at an advertising behemoth which represents some of the most destructive corporations on the planet. How can her advice possibly be independent? How can the perspectives and viewpoints of clients not have imprinted on her?
As the Badvertising website says, “for every rights-abusing, climate-wrecking corporation, there’s an advertising agency working hard to clean up their public image. And no one does this better than the world’s biggest ad firm, WPP”.
Last month, climate activists occupied WPP’s London headquarters, demanding it cut ties with clients including Shell, BP, Total, ExxonMobil, Drax and Saudi Aramco.
UK Labour Party Shadow Foreign Secretary repeatedly heckled at a speech to the Fabian Society over his and the Labour Party’s support for and complicity in Israel’s genocide of Gaza.Greenpeace activists display a billboard during a protest outside Shell headquarters on July 27, 2023 in London. (Photo: Handout/Chris J. Ratcliffe for Greenpeace via Getty Images)Experienced climbers scale a rock face near the historic Dumbarton castle in Glasgow, releasing a banner that reads “Climate on a Cliff Edge.” One activist, dressed as a globe, symbolically looms near the edge, while another plays the bagpipes on the shores below. | Photo courtesy of Extinction Rebellion and Mark Richards
The climate campaigners’ video flooded the Stade de France with oil in protest of TotalEnergies’ sponsorship of the Rugby World Cup – now it’s facing backlash.
In a letter seen by The Drum, a representative from Rugby World Cup Limited (RWCL) contacted Greenpeace regarding the video ‘Total Pollution: A Dirty Game,’ which utilizes a number of RWCL’s registered trademarks, including the Rugby World Cup and Rugby World Cup France 2023 logos, as well as the trademarks and logos of its member unions and commercial partners of the tournament.
“Your use of the RWCL IP has not been authorized by RWCL and/or the relevant commercial partner or member unions and therefore infringes RWCL’s and their intellectual property rights,” it reads.
It goes on to order that “in order to avoid the need for formal legal proceedings,” Greenpeace should “immediately cease and desist” on the grounds that the intellectual property of RWCL has been used without authorization and that, if Greenpeace wishes to avoid legal proceedings, it should remove the video and “refrain from any such use again in the future.”
A spokesperson from RWCL told The Drum it is not currently pursuing legal action but said: “There is guidance around the use of Rugby World Cup IP, which Greenpeace could have sought. This can be rectified.”
They added: “The France 2023 organizing committee reached out to engage with leading campaign groups and NGOs on shaping the tournament’s sustainability program. Greenpeace was the only one to decline.”
But Greenpeace maintains that its use of RWCL trademarks in the video is perfectly lawful, writing in its response to RWCL: “You state no legal basis for the demands issued to us and we fail to see that such a basis exists.”
Demonstrators participate in a Fridays for Future protest calling for money for climate action at the COP27 U.N. Climate Summit, Friday, Nov. 11, 2022, in Sharm el-Sheikh, Egypt.
HUGE profits declared by oil and gas firms should be channelled towards compensating for the loss and damages suffered by victims of climate change, campaign group Greenpeace has urged.
Following Shell’s announcement last week of its record high profits of £32.2 billion last year, BP is expected to announce record profits of its own tomorrow.
The firm has already announced more than £20bn profit for the first three quarters of last year.
Collectively, energy giants Shell, BP, Chevron, Exxon, and Total are believed to have pocketed almost £166bn in profits last year, said Greenpeace.
A worker collects engine oil as he works at a degassing station in Zubair oil field near Basra, Iraq
