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Posts under ‘Climate Change’

Analysis: Oil giants unlikely to share coal’s fate, for now

Ron Bousso, Simon Jessop, Susanna Twidale: NOVEMBER 17, 2017

The move by the $1 trillion fund, the world’s largest, rattled stock markets, exposing what is seen as one of the biggest threats to companies such as Royal Dutch Shell, Exxon Mobil and BP as the world shifts towards renewable energy such as wind and solar. FULL ARTICLE read more

Big Oil is under pressure, unloved and on sale

  • Norway wants to dump its stakes in oil and gas companies
  • Proposal adds to doubts over industry’s long-term outlook

Big Oil is under pressure, unloved and on sale.

Energy giants from Exxon Mobil Corp. to Royal Dutch Shell Plc are struggling back to their feet after a three-year oil slump, while also fighting to prove they can survive for decades to come amid an accelerating shift to clean energy. So getting dumped by the world’s biggest investment fund wouldn’t be welcome news.

Norway’s $1 trillion sovereign wealth fund said on Thursday that it wants to sell about $35 billion of shares in oil and gas companies to make the nation “less vulnerable” to a drop in crude prices. Global energy giants favored by long-term investors including Italy’s Eni SpA, PetroChina Ltd. and Russia’s Gazprom PJSC account for more than $20 billion of that total. read more

Shift to Hydrogen Could Meet 20% of World Energy Needs by 2050

Shell, Statoil and BMW among companies urging support for fuel

Transition requires investment of up to $25 billion a year

The most abundant element may supply almost a fifth of global energy by 2050 and eliminate enough emissions to cancel out all the pollution in the U.S., according to a group of industrial companies from Royal Dutch Shell Plc to Toyota Motor Corp. FULL ARTICLE

A billion US dollars poured into Royal Dutch Shell

One of the two funds poured a billion US dollars into Royal Dutch Shell, the Anglo-Dutch oil and gas company. The Shell Technology Ventures Fund then invested in ‘production and exploration’ technologies, such as innovative oil rigs. The universities have faced protests from staff and students over their investments in fossil fuels in recent years.

Oxford and Cambridge Universities have made secret investments into offshore funds, it was revealed last night. The university bodies, as well as 29 Oxbridge colleges, have together paid tens of millions to firms based in tax havens including the Cayman Islands. One fund was a joint venture to develop oil exploration and deep-sea drilling, according to the Paradise Papers. FULL ARTICLE read more

Peak oil? Majors aren’t buying into the threat from renewables

Ernest Scheyder, Ron Bousso: NOVEMBER 8, 2017 HOUSTON/LONDON (Reuters) – Two decades ago, BP set out to transcend oil, adopting a sunburst logo to convey its plans to pour $8 billion over a decade into renewable technologies, even promising to power its gas stations with the sun. That transformation – marketed as “Beyond Petroleum” – led to manufacturing solar panels in Australia, Spain and the United States and erecting wind farms in the United States and the Netherlands. Today, BP (BP.L) might be more aptly branded “Back to Petroleum” after exiting or scaling back its renewable energy investments. Lower-cost Chinese components upended its solar panel business, which the firm shed in 2011. A year later, BP tried to sell its U.S. wind power business but couldn’t get a buyer. FULL ARTICLE

A new revelation about Shell in Nigeria shows that oil trade always makes dirty hands

Google translation of an extensive OPL 245 article published in Dutch. Cannot guarantee that all the links work. Listen here to the unprincipled notorious BvB/Simon Henry wiretapped phone call. Instruction given to withhold information from the police and Shell shareholders. (Currently conversation 9 down from the top)

Jelmer Mommer, Correspondent Climate & Energy

27 October 2017

In 2011, Shell concluded a deal to win oil for the Nigerian coast. Of that, a condemned money launderer benefited – with the knowledge of Shell. Free Netherlands publishes a new reconstruction about the case this week, based on a file of thousands of pages, internal emails, reports and listened calls.

In the amazing documentary Here was the unforgettable film about oil, corruption and capitalism. Here was the unforgettable film about oil, corruption and capitalism. Big Men, says a member of a small American oil company doing business in Ghana: “The oil business is a team sport.” read more

BP and Shell planning for catastrophic 5°C global warming despite publicly backing Paris Climate Agreement

Oil giants Shell and BP are planning for global temperatures to rise as much as 5°C by the middle of the century. The level is more than double the upper limit committed to by most countries in the world under the Paris Climate Agreement, which both companies publicly support. The discrepancy demonstrates that the companies are keeping shareholders in the dark about the risks posed to their businesses by climate change, according to two new reports published by investment campaign group Share Action. Many climate scientists say that a temperature rise of 5°C would be catastrophic for the planet. read more

Clock ticking down on deadline for Shell Springboard entries

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Entrants will be competing for a green cash pot containing £350,000, with the national winner to receive £150,000. A further five regional winners will each get £40,000 of no-strings attached funding.

They will also be given access to academics and investors whose advice can help grow their enterprises. The cut-off date for applications falls on November 6.

Former winners include Edinburgh-based tidal energy technology developer Nova Innovation. Shell UK country chair Sinead Lynch said: “Since 2005, Shell Springboard has provided £4million of equity-free funding to almost 100 innovative low-carbon enterprises in the UK. FULL ARTICLE read more

Planning for a green future

Since 2011, Shell has worked closely with the Development Research Center of the State Council on the country’s energy development strategy. (We have) identified key challenges facing the country and suggested detailed, practical solutions.

Through collaboration, we have also examined the important role natural gas can play in helping China diversify its energy mix. At the same time, it will boost economic development, improve air quality and help reduce carbon emissions.

Shell continues to promote the role of natural gas. Compared with coal, it emits around half the CO2s and less than one-tenth of the air pollutants when used to produce electricity. read more

BP, Shell Put Oil Ahead of Earth, ESG Group Warns Investors

Performance targets of energy companies Royal Dutch Shell and BP remain too heavily biased towards hydrocarbon production, a report has warned. ShareAction — a U.K. charity that promotes environment, social, and governance-oriented investing — looked at BP and Shell’s greenhouse emissions management policies, asset portfolio resilience, corporate key performance indicators, executive incentive structures, and influences on public policy. The group concluded that the oil giants prioritize the production of fossil fuels, which could incentivize management behavior “misaligned” with shareholder interest, as defined by ShareAction. MORE read more

Shell buys NewMotion charging network in first electric vehicle deal

Karolin Schaps: OCTOBER 12, 2017 / 1:23 PM

AMSTERDAM (Reuters) – Royal Dutch Shell (RDSa.L) has agreed to buy Dutch-based NewMotion, the owner of one of Europe’s largest electric vehicle charging networks, marking the company’s first deal in electric mobility as demand for cleaner vehicles is expected to soar. Shell said NewMotion, which manages over 30,000 charging points for electric vehicles in Western Europe and offers access to thousands more, will operate in parallel to Shell’s program of rolling out fast charging points at its forecourts. “They’re complementary offers. One is fast charging on the go on the forecourt and the other is a slightly slower rate of charge at the workplace or at home. At this stage there are no plans to integrate the two,” Shell’s vice-president for new fuels, Matthew Tipper, told journalists. Shell is installing electric vehicle charging points at retail stations in Britain, the Netherlands, Norway and the Philippines. FULL ARTICLE read more

Oil Majors Face Lawsuits on Climate Change Issues

The companies have been accused of causing an adverse impact on the climate, resulting in global warming. The plaintiffs hold these fossil fuel companies accountable for rising sea levels, changing landscapes, higher global temperatures and increased risk of storms and droughts. The cities are located on the opposite sides of San Francisco Bay, and the lawsuit claims that the region’s water level is already on the rise. If the companies lose the case, they will be liable to pay billions of dollars in fines. Though the lawsuits do not specify the compensation amount, updating San Francisco’s seawall alone could cost up to $5 billion. FULL ARTICLE read more

Citizens must “flood the courts” in fight for climate justice: economist

Adela Suliman: OCTOBER 4, 2017

LONDON (Thomson Reuters Foundation) – The world faces a ticking time bomb in the form of global warming, and recent disasters caused by extreme weather should motivate individuals to urgently seek “climate justice”, said leading U.S. economist Jeffrey Sachs.

The U.N. special adviser urged citizens to “flood the courts” with legal cases demanding the right to a safe and clean environment, and to pursue major polluters such as big oil companies and negligent governments for liability and damages. read more

Interview – Shell Netherlands CEO: More large wind projects wanted

Toby SterlingStefano Berra: OCTOBER 5, 2017

AMSTERDAM (Reuters) – As the Netherlands struggles to meet its renewable energy goals, Shell’s country chief executive sees its role as the architect of big, high-risk projects such as wind turbine farms — for the time being.

In an interview, Marjan van Loon said Shell had joined a coalition of companies urging the Dutch government to greatly increase its ambitions for offshore wind farms from its current plan for 5 tenders of 700 megawatt farms. read more

Energy Industry ‘Very, Very Close’ to Voluntary Methane Emissions Reduction Program, Says Shell Exec

Jeremiah Shelor: October 4, 2017

The American Petroleum Institute is getting “very, very close” to formally adopting a voluntary program to curb methane emissions from the oil and gas industry, Royal Dutch Shell plc’s Greg Guidry, executive vice president of unconventionals, said this week. Speaking at the North American Gas Forum in Washington, DC, on Monday Guidry said the “very comprehensive program” would go into effect in January. “It’s focused on the three primary sources of fugitive emissions based on all of the studies through” the Environmental Defense Fund, the University of Texas at Austin and others. Guidry’s announcement preceded that of the Bureau of Land Management, which on said it plans to suspend the Obama administration’s venting and flaring rule for oil and gas producers. He told the audience that the industry can’t rely on future administrations to have the same regulatory mindset. FULL ARTICLE read more

Shell to Seek Sale of Stake in $1.4 Billion Wind Farm

Royal Dutch Shell Plc and its partners Eneco Holdings NV and Mitsubishi Corp. are seeking to sell a stake in two Dutch offshore wind-farm projects that may cost $1.4 billion to develop, two people familiar with the plan said. The move would allow the companies to scale back financial exposure to the wind farms and redeploy the cash in new projects with the potential for higher returns. Shell has said only that it is trying to draw in additional investors, refusing to detail what that may entail. Its strategy is to focus on developing the early stages of gigantic wind farms and avoid holding the assets as long term operations, which offers a steady but slower payback. FULL ARTICLE read more

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