Free Republic

BP's decision to abandon its stake in oil giant Rosneft is the first high-profile example of the self-sanctioning by companies of their business links to Russia, a process likely to have major short- and long-term implications for energy markets. BP's dramatic exit of its 19.75% share of Rosneft could cost the London-listed oil major as much as $25 billion, a hefty price to pay in order to be seen to be doing the right thing in response to Russia's invasion of neighboring Ukraine. "I have been deeply shocked and saddened by the situation unfolding in Ukraine and my heart goes...

Uganda and Tanzania are set to begin work on a massive crude oil pipeline a year after the International Energy Agency warned that the world risked not meeting its climate goals if new fossil fuel projects were not stopped. The two East African countries say their priority is economic development...Eighty percent of the 1,440km- (895 mile) pipeline, whose construction will begin in a few months, will be in Tanzania including a terminal-storage facility in Chongoleani.French energy giant Total Energies and Chinese energy firm CNOOC International also have a stake in the $5bn (£4bn) venture.Because of the waxy nature of Lake...