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Posts under ‘Alternative Energy’

Shell, Total CEOs Question Solar in Room Full of Solar Investors

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By Anna Hirtenstein: 3 November 2016

When executives from some of the world’s biggest oil companies question the ability of solar energy to make money in a roomful of renewables investors, awkwardness ensues.

That’s what happened Thursday at the Energy for Tomorrow conference in Paris, where the chief executive officers of Royal Dutch Shell Plc and Total SA said solar power isn’t profitable.

“Growth of renewables has been remarkable but capacity of industry to make money in that segment has been remarkably absent,’’ Shell CEO Ben van Beurden said during a panel discussion. “The 10 largest solar companies collectively never paid a cent of dividends.’’

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Big Oil Slowly Adapts to a Warming World

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By CLIFFORD KRAUSSNOV. 3, 2016

In a warming world, Big Oil doesn’t look quite so big anymore.

A global glut of oil and natural gas has sent prices tumbling over the last two years, and profits are evaporating. Improving auto fuel efficiency standards threaten to depress oil consumption eventually, and fleets of electric vehicles are gradually emerging in China and a few other important markets.

Perhaps most troubling for oil companies over the long term is the goal — agreed to last December by virtually every country in the world at a climate conference in Paris — of staving off a rise in average global temperatures of more than 2 degrees Celsius above preindustrial levels.

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Oil majors join forces in climate push with renewable energy fund

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By Ron Bousso | LONDON

Top oil companies including Saudi Aramco and Shell are joining forces to create an investment fund to develop technologies to promote renewable energy, as they seek an active role in the fight against global warming, sources said.

The chief executives of seven oil and gas companies — BP, Eni, Repsol, Saudi Aramco, Royal Dutch Shell, Statoil and Total — will announce details of the fund and other steps to reduce greenhouse gases in London on Friday.

The sector faces mounting pressure to take an active role in the fight against global warming, and Friday’s event will coincide with the formal entry into force of the 2015 Paris Agreement to phase out man-made greenhouse gases in the second half of the century.

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Faster transition

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By Ed Crooks: 28 October 2016

The lesson of history is clear: energy transitions take a long time. Sometimes, though, the world passes a milestone that gives a sense of how the energy system is progressing. The news this week that global power generation capacity in renewable energy is greater than in coal-fired plants looked like one of those signs that the industry really is changing.

Now, capacity is one thing and generation is another. Renewables still provided only 23 per cent of the world’s power last year, well behind coal’s 39 per cent.  But the data published by the International Energy Agency are a reminder that, in the words of BP chief economist Spencer Dale, “it’s possible that we will see forces leading to a faster transition coming from a number of different fronts”. He still expects wind, solar and biomass to be only 10 per cent of the world’s energy by 2035, though. 

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Dutch companies want next government to focus on shift to clean energy

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screen-shot-2016-10-20-at-23-00-27Dozens of Dutch companies called on the country’s next government on Tuesday to establish an independent climate authority, environment minister and national investment bank to speed up the shift to clean energy.

The rare call for more government came from 39 companies, including oil giant Royal Dutch Shell, insurer Aegon and engineering consultancy Arcadis.

They argued that future Dutch leaders must adopt a comprehensive “climate law” after the general elections next March 15 that would establish bodies to oversee policies needed to meet targets set out in the 2015 Paris climate accord.

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Survival in the harsh conditions of the oil downturn

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By Ed Crooks: October 21, 2016

The mood at the Oil and Money conference in London, the big energy event of the week, was a case of mixed emotions: cheer over signs of a near-term pick-up in the market, and concern over longer-term threats to demand.

The headlines were made on Wednesday by a clash between two of the biggest names in energy: Khalid al-Falih, energy minister of Saudi Arabia, and Rex Tillerson, chief executive of ExxonMobil. In his keynote speech, Mr al-Falih warned of the risk of “a shortage of supply” in future years because of plunging investment in oil production. Speaking minutes later, Mr Tillerson suggested he did not expect a collapse in supplies, because US shale provided “enormous spare capacity” to meet rising demand.

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Fitch: Batteries could be key disruptor to oil industry in “investor death spiral”

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Oct 18 2016, 12:45 ET | By: Carl Surran, SA News Editor

Oil producers such as ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX) and Royal Dutch Shell (RDS.A, RDS.B) must prepare for radical change as adoption of new technologies like electric cars could happen faster than originally anticipated, according to a new report from Fitch Ratings.

“Widespread adoption of battery-powered vehicles is a serious threat to the oil industry,” and an acceleration of the electrification of transport infrastructure could create an “investor death spiral” as investors flee the oil patch, Fitch warns.

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Shell May Snag 95% Discount on Next-Generation Ethanol Plant

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cropped-Screen-Shot-2016-09-09-at-20.58.10.jpgBy Mario Parker: 13 October 2016: Updated onOctober 14, 2016

Royal Dutch Shell Plc is set to pay $26 million for Abengoa SA’s ethanol plant that cost it and taxpayers about $500 million to build.

Shell’s so-called stalking-horse bid, which is subject to court approval, was disclosed in documents filed Wednesday with Kansas District’s U.S. Bankruptcy Court. If Abengoa receives competing bids, an auction will be held Nov. 21 for the 25 million-gallon-a-year-plant, the filings show. The bid was confirmed by Mark Kisler, managing director at Ocean Park Advisors, Abengoa’s consultant.

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Shell Oil bids $26 million for Abengoa’s advanced biofuel plant

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By Chris Prentice | NEW YORK

Royal Dutch Shell Plc’s U.S. arm has offered more than $26 million to buy Abengoa SA’s cellulosic ethanol plant in Kansas, according to documents filed late Wednesday in bankruptcy court.

Shell’s initial bid on Abengoa’s bankrupt biofuels asset marks the oil major’s latest push into renewable fuels as the U.S. government is getting its over decade-old biofuels policy back on track following years of regulatory delays.

“This move is in line with Shell’s strategy to develop biofuels” that use sustainable feedstocks, Shell spokeswoman Natalie Mazey said in an emailed statement.

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FT Energy Source Weekly Briefing

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By Ed Crooks: October 7, 2016

Two international agreements have dominated the week’s energy news. Both have futures that are still shrouded in uncertainty, but are important landmarks if only because countries with widely diverging interests were able to come together and sign up to a shared course of action.

One was the Paris climate accord, which this week secured support from enough countries to come into force formally next month. The UN said 73 countries and the EU, accounting for more than 55 per cent of global greenhouse gas emissions, had ratified the agreement, crossing the thresholds set when the accord was adopted last December. More of the 195 countries that agreed the deal then are expected to join it formally in the coming weeks, months and years.

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Shell and BP shareholders can use votes to make firms go green, campaign group says

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Written by Mark Lammey – 29/09/2016 7:42 am

A campaign group is urging Shell and BP shareholders to use binding votes on pay plans to encourage bosses to embrace green energy, a news report said yesterday.

ShareAction said sticking with old remuneration policies that reward executives for digging for oil would lead to both companies becoming obsolete and going bankrupt, The Guardian reported.

In line with rules introduced in 2013, large companies like Shell and BP face binding shareholder votes on three-year pay policies next year, the report said.

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BP and Shell investors urged to reward bosses for backing green energy

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Screen Shot 2016-08-04 at 14.47.05BP and Shell investors urged to reward bosses for backing green energy

Shareholders should use binding votes on pay policies next year to push executives to stick to climate goals, says ShareAction

Sean FarrellThursday 29 September 2016 00.01 BST

Shell and BP’s pay plans encourage their bosses to dig for oil instead of investing in low-carbon energy and should be overhauled by shareholders, according to the campaign group ShareAction.

Investors in the oil companies should use binding votes on pay policies next year to scrap short-term targets and reward chief executives for working towards the target set in Paris last December to limit global temperature increases to 2C or less, the responsible investment group says in a report.

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