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First carbon capture project in oilsands passes one million tonne milestone

screen-shot-2016-09-14-at-18-38-44The company, which developed the $1.35-billion Quest project with the help of $745 million from the Alberta government and $120 million from Ottawa, says the project is operating ahead of schedule and under budget.

“There isn’t a metric that hasn’t finished very strongly in green,” said Zoe Yujnovich, executive vice-president for heavy oil at Shell.

“I don’t think we can say that about many projects.”

The Quest project is designed to capture about a third of the emissions from Shell’s Scotford Upgrader near Fort Saskatchewan, Alta., turn that into a near-liquid, and then pump it over two kilometres underground into porous rock formations.

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Shell begins production at world’s deepest underwater oilfield

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Simon BowersSunday 11 September 2016 17.15 BST

Royal Dutch Shell has started production at the world’s deepest underwater oil and gas field, 1.8 miles beneath the sea surface in the Gulf of Mexico.

The latest costly addition to Shell’s production capacity comes despite Van Beurden’s repeated pledges on climate change. In May, he said: “We know our long-term success … depends on our ability to anticipate the types of energy that people will need in the future in a way that is both commercially competitive and environmentally sound.”

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No oil freeze yet

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Screen Shot 2016-06-20 at 08.25.29By Ed Crooks: September 9, 2016

“Grant me chastity and continence, but not yet,” St Augustine wrote in his Confessions, remembering his prayer as an adolescent. Opec members are taking much the same attitude to restraining their oil production.

Saudi Arabia and Russia, the world’s two largest crude producers, said on Monday they would co-operate on ways to stabilise oil prices, but stopped short of agreeing to freeze production. There will be a working group to study ways to curb price volatility, and co-operation on production curbs was held out as a possibility. But Khalid al-Falih, Saudi Arabia’s energy minister, was clearly in no hurry to make any commitments.

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Shell CEO: Red lights on path to greener energy

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After all, keeping temperatures from rising to catastrophic levels will require the world to wean itself off fossil fuels and turn to cleaner forms of energy, hardly an appealing proposition to the financial wellbeing of oil producers.

But now the leader of one of the world’s biggest oil companies is telling his peers to accept the role unapologetically.

“When it comes to some of the beliefs about the challenge of the energy transition, which may be founded on less than solid fact, our industry should not shy away from being the contrarian in the room,” Ben van Beurden, the chief executive of Royal Dutch Shell, told an oil conference in Norway recently.

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Shell’s Ben van Beurden calls on industry to be “contrarian in the room”

Screen Shot 2016-08-29 at 18.40.18Written by Rita Brown – 29/08/2016 12:27 pm

Shell’s chief executive Ben van Beurden called on the industry to be the “contrarian in the room” and speak the “undeniable truth” about energy’s future.

The company leader addressed the delegation at this year’s ONS, tackling climate change and the influence of the Paris climate agreement.

The chief executive opened by saying: “There is a classic story about one of the most famous Norwegians of all time, the playwright Henrik Ibsen. Lying on his sickbed, he overheard his nurse saying that he was a bit better that day.

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Shell CEO sees oil demand up by 1-1.5 mln barrels/day per year

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Screen Shot 2016-07-29 at 16.46.22The CEOs of Shell and ConocoPhillips made the following comments to the ONS oil conference in Stavanger, Norway, on Monday:

* Shell CEO Ben van Beurden says sees increase in oil demand of 1-1.5 million barrels per day per year

* Shell CEO says sees future oil demand more dictated by consumer decisions rather than producers’ decisions

* ConocoPhillips CEO Ryan Lance says carbon price needs to be $100 or more to reach climate target

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Holy Grail of energy policy in sight as battery technology smashes the old order

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AMBROSE EVANS-PRITCHARD10 AUGUST 2016 

The world’s next energy revolution is probably no more than five or ten years away. Cutting-edge research into cheap and clean forms of electricity storage is moving so fast that we may never again need to build 20th Century power plants in this country, let alone a nuclear white elephant such as Hinkley Point.

The US Energy Department is funding 75 projects developing electricity storage, mobilizing teams of scientists at Harvard, MIT, Stanford, and the elite Lawrence Livermore and Oak Ridge labs in a bid for what it calls the ‘Holy Grail’ of energy policy.

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The Future of Big Oil? At Shell, It’s Not Oil

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Screen Shot 2016-07-20 at 07.42.44The energy giant is shifting to gas as the industry adapts to climate change.

By Matthew CampbellRakteem Katakey and James Paton: 20 July 2016

At Australia’s Curtis Island, you can see Big Oil morphing into Big Gas. Just off the continent’s rugged northeastern coast lies a 667-acre liquefied natural gas (LNG) terminal owned by Royal Dutch Shell, an engineering feat of staggering complexity. Gas from more than 2,500 wells travels hundreds of miles by pipeline to the island, where it’s chilled and pumped into 10-story-high tanks before being loaded onto massive ships. “We’re more a gas company than an oil company,” says Ben van Beurden, Shell’s chief executive officer. “If you have to place bets, which we have to, I’d rather place them there.”

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Uncertainty in the oil price war

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By Ed Crooks: JULY 15. 2016

“War is the realm of uncertainty,” wrote the great Prussian military theorist Carl von Clausewitz. “Three quarters of the factors on which action in war is based are wrapped in a fog of greater or lesser uncertainty.”

That applies to price wars every much as it does to the real kind. Almost from the moment crude began falling in 2014, news outlets started running confident-sounding claims that one side or another was winning the battle often depicted as a struggle between Saudi Arabia on one side and US shale producers on the other.

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Oil Is Facing The Perfect Storm

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By Cassandra Legacy – Jul 14, 2016, 3:27 PM CDT

Since at least the end of 2014 there has been increasing uncertainty over oil prices, from whether so-called “Peak Oil” has already happened, to matters of EROI (or EROEI) values for current energy sources and for alternatives, to climate change and the phantasmatic 2oC warming limit, and the feasibility of shifting rapidly to renewables or sustainable sources of energy supply. Overall, it matters a great deal whether a reasonable time horizon to act is say 50 years, i.e. in the main the troubles that we are contemplating are taking place way past 2050, or if we are already in deep trouble and the timeframe to try and extricate ourselves is some 10 years. Answering this kind of question requires close attention to system boundary definitions and scrutinizing carefully any assumptions.

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Shell chief Ben van Beurden: ‘You cannot expect us to act against our economic interest’

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By Emily Gosden, energy editor: 2 JULY 2016 • 2:30PM

On the last Thursday in January, the day Royal Dutch Shell’s £35bn takeover of BG Group got the final seal of approval from BG shareholders, Ben van Beurden was not planning a celebration.

Shell’s chief executive was instead preparing to get on with the detailed work of integrating the two companies: some 200 senior staff from Shell and BG had been assembled in The Hague, ready to spend Friday and the weekend working out what would happen when one of the biggest deals in history finally completed.

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Brexit impact fades

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Gary Shilling for Bloomberg View suggested oil could drop to $10.

By Ed Crooks: Friday, July 1, 2016

Oil was one of the markets where the initial shock of the UK’s Brexit vote quickly faded. Brent crude was about $51 per barrel as the voters went to the polls last week, and today was trading at about $49.50. 

The 34 per cent rise in oil so far in 2016 has been its best start to a year since 2009, and helped commodities outperform other asset classes over the past six months.

The rise in prices has brightened the mood in Texas, according to a new survey carried out by the Federal Reserve Bank of Dallas. It looks like being a good data source to watch in future.

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Shell urges continued free trade and free movement of people post-Brexit

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Emily Gosden, energy editor: 30 JUNE 2016 • 7:02PM

Royal Dutch Shell has urged the UK to retain free trade and free movement of people with the EU in the wake of Brexit.

Ben van Beurden, the oil giant’s chief executive, said it was not yet clear how Shell would be affected by Britain leaving the EU and he was concerned by the prospect of a period of change and uncertainty. 

“It’s crucial that European governments will keep now a steady hand on the tiller of the economy in what will be probably unprecedented, unpredictable circumstances for some time to come,” he said.

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Shell boss keen to help UK with climate change, “when it makes business sense”

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Written by Mark Lammey – 30/06/2016 5:59 am

The boss of Royal Dutch Shell (LON: RDSB) wants the oil and gas giant to play a big part in the UK’s quest to meet climate change targets, “when it makes business sense”.

Shell chief executive Ben van Beurden also expects the UK’s energy demand to level off as the country becomes more fuel efficient.

“Social, political and geographical conditions differ from country to country,” Mr van Beurden will say today at the company’s Powering Progress Together Forum. “In other words, the energy transition is likely to play out in a different way and at a different pace in different places.

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Royal Dutch Shell says UK energy demand set to fall in future

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Jessica Morris is City A.M.’s industrials reporter. Thursday 30 June 2016 12:06am

The boss of oil major Royal Dutch Shell is set to say that energy demand in the UK will fall, while urging the government to help meet the world’s climate change goals.

Ben van Beurden, chief executive of Shell, will tell an audience at a forum in London later today: “In the UK … demand for energy is likely to level off as a result of, for example, energy efficiency.

“But this does not mean the UK can sit back and relax. It has a legally binding commitment to reduce its carbon emissions by 80 per cent by 2050, from the 1990 level.”

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Brexit and Brent

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Screen Shot 2016-05-30 at 15.37.19By Ed Crooks: June 24, 2016

In the market maelstrom that followed the UK’s referendum vote to leave the EU, the oil price took some collateral damage, with Brent crude dropping below $48 for the first time in a week. As the country sat up to watch the results come in, National Grid had to cope with the largest ever spike in night-time electricity demand.

The longer-term implications of Brexit for energy in the UK and Europe, like most other consequences of the decision, are highly uncertain. Politico and others sketched out some of the main issues, with news outlets taking a range of differing perspectives. Norton Rose Fulbright published an excellent primer, focusing on some of the key legal questions. BusinessGreen rounded up reaction from environmental campaigners and renewable energy businesses. Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change, suggested before the result was known that a vote for Brexit would mean the Paris agreement on tackling global warming would “require recalibration”.

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Carbon capture: UK pays firms £30m despite scrapping projects

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Terry Macalister Energy editor: Sunday 19 June 2016

The government has handed out almost £30m to Shell and other companies for work on carbon capture and storage (CCS) despite scrapping their projects that could have played a role in beating climate change.

The National Audit Office is already investigating the way CCS has been handled but a spokesperson for the Department of Energy and Climate change said the latest tranche of cash to Shell and Drax was necessary and the knowledge could be put to good use.

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Short term strength

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By Ed Crooks: June 17, 2016

This week has brought evidence of contrasting short-term and long-term trends in the oil market. In the short term, demand and supply are both turning out to be stronger than many had expected. The IEA revised up its forecast for oil demand growth this year in its monthly oil market report, but added that rising production would mean global oversupply could persist into 2017.

There are early indications of an upturn in activity in the US shale industry, still faint so far, but ominous for anyone relying on a sharp rebound in crude. And Iran said its oil production had reached 3.8m barrels per day, confirming the strong growth following the lifting of sanctions that was already visible last month. Iran’s oil exports have tripled since late 2015.

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Latin America must safeguard energy investors: industry leaders

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Thu Jun 16, 2016 5:48pm EDT

Latin America offers ample opportunities for the energy sector, but governments must make changes to protect investors from legal headaches, industry leaders at the World Economic Forum’s Latin America meeting in Colombia said on Thursday.

Judicial rulings regularly halt energy and mining operations in countries including Colombia, sparking worries that legal tangles would spook foreign investors as many Latin American countries battle high inflation and slowing economic growth.

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Bad news for fossil fuels

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By Ed Crooks: June 10. 2016

Two of the most widely respected energy analysts – BP’s economics team and the International Energy Agency – published reports this week, and both brought bad news for fossil fuel producers. They differed, however, in the focus of their gloomy perspectives. For BP, publishing its 65th annual Statistical Review of World Energy, it was coal that came off worst. As Spencer Dale, BP’s chief economist, put it in his presentation, “2015 was undoubtedly an annus horribilis for coal”. The shift to natural gas for power generation in the US gathered pace, and there was a second consecutive year of declining consumption in China.

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Shell says it will limit solar investment until it proves profitable

Screen Shot 2016-05-26 at 21.16.32Shell’s chief executive, Ben van Beurden, insisted the company was ‘not the opposition’ to renewables. Photograph: Bloomberg via Getty Images

Terry Macalister Energy editor: Thursday 26 May 2016 19.35 BST

Shell will avoid investing too heavily in solar or other technologies until they can make financial profits, its chief executive has said.

Ben van Beurden told a meeting of shareholders in London that the oil company was already established in windfarms, a carbon capture plant, and wanted to gradually increase its operations in clean energy.

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Shell risks dividend payments with quick switch to renewables

Screen Shot 2016-05-26 at 19.31.05Written by Reporter – 26/05/2016 6:00 am

Oil major Shell cannot switch too quickly to producing renewable energy without risking its dividend payments according to its chief executive.

More than 97% of Shell shareholders agreed at its annual meeting earlier this month to reject a resolution to invest profits from fossil fuels to become a renewable energy company.

The firm had previously said it was against the proposal.

Shell’s climate change policy has been criticised in recent months including by Dutch pension fund PGGM.

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ExxonMobil CEO: ending oil production ‘not acceptable for humanity’

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Screen Shot 2016-05-24 at 09.54.10Rupert Neate in Dallas: Wednesday 25 May 2016 20.25 BST

Rex Tillerson, the boss of oil giant ExxonMobil, said cutting oil production was “not acceptable for humanity” as he fought off shareholders’ and activists’ attempts to force the company to fully acknowledge the impact of climate change on the environment and Exxon’s future profits.

During a long and fractious annual meeting in Dallas on Wednesday, Tillerson, who serves as Exxon’s chairman and chief executive, beat back several proposals to force the company to take more action on climate change.

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Shell CEO warns renewables shift could spell end if too swift

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By REUTERSPUBLISHED: 15:23, 24 May 2016

By Ron Bousso

THE HAGUE, May 24 (Reuters) – Royal Dutch Shell cannot switch too quickly to producing renewable energy without risking its dividend payments and even its very existence, the oil and gas group’s chief executive warned.

Major investors, including Dutch pension fund PGGM, have criticised Shell’s climate change policy in recent months, saying it should do more to mitigate climate change risks.

However, 97 percent of Shell shareholders at its annual meeting on Tuesday rejected a resolution to invest profits from fossil fuels to become a renewable energy company. The Anglo-Dutch firm had previously said it was against the proposal.

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Exxon Investors Seek Assurance as Climate Shifts, Along With Attitudes

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By CLIFFORD KRAUSS and JOHN SCHWARTZA version of this article appears in print on May 24, 2016, on page A1 of the New York edition

HOUSTON — Exxon Mobil has been under pressure for over a year to explain its handling of climate change issues in the past. Now the company faces new pressure to explain its future, particularly how it will change in response to a warming world.

At the company’s planned annual meeting on Wednesday in Dallas, shareholders will vote on a resolution to prod Exxon Mobil to disclose the risks of climate change to its business.

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Lensbury Club, owned by Shell Oil, defends its opposition to Teddington and Ham Hydro renewable energy scheme

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Screen Shot 2016-04-20 at 13.50.03George Odling, Senior Reporter: 23 May 2016

A leisure club owned by Shell Oil has defended its position to block plans for a renewable energy scheme near its land.

Its decision, which has left council-tax payers footing the bill, has been blasted as “shameful” by a Teddington councillor.

Teddington’s Lensbury Club, wholly owned by the oil giant, is appealing a High Court dismissal of a review into Richmond Council’s decision to grant planning permission to the Teddington and Ham Hydro scheme.

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Royal Dutch Shell faces demand to reveal all on climate change

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Screen Shot 2016-04-20 at 13.50.03Investors say Shell has failed to fully address the impact of lower oil & gas demand due to new technologies

Coalition says Shell’s climate change management could have a bearing on executive pay

Philip Waller23 May 2016

Campaigning investors have urged Royal Dutch Shell PLC (LON:RDSB) to be more upfront with its plans to handle climate change, saying it could affect executive pay.

The Aiming for A coalition says Shell has failed to fully address the impact of reduced demand for oil and gas because of new technologies such as carbon capture and electric cars.

The group acknowledged improvements made by the company, but demanded more risk and strategy disclosure.

It said investors with assets worth US$5.05trln, including Rathbone Greenbank Investments, will provide Shell with direct feedback on progress at Shell’s AGM on Tuesday.

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Dutch pension fund PGGM critical of Shell ahead of annual meeting

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By REUTERSPUBLISHED: 18:56, 23 May 2016

AMSTERDAM, May 23 (Reuters) – Dutch pension fund PGGM, a major shareholder in Royal Dutch Shell, criticised the company’s climate change policy on Monday, a day before Shell’s annual meeting.

“We are not yet convinced Shell has sufficiently internalised the consequences of climate change in its strategy and future plans,” the fund said in a statement published on its website.

But PGGM said it would not vote in favour of a resolution put on the shareholder meeting’s agenda by activist group “Follow This” directing the oil giant to transform itself into a “sustainable energy” company.

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Shell ‘failing to plan for green future’

Screen Shot 2016-05-23 at 07.34.07A statement tabled by Aiming for A, a coalition of investors, with the backing of asset managers with $5 trillion under management, calls on Shell to do more to model the impact of reduced demand for oil and gas because of new technologies.

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Club owned by Shell tries to block local hydropower scheme

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Damian Carrington: Sunday 22 May 2016

Shell is involved in blocking the development of a renewable energy project in a legal battle between a private club owned by the company and a community hydropower scheme on the river Thames.

The latest legal moves came just as Shell created a separate division, New Energies, to invest in renewable and low-carbon power.

The site is by the bank of the Lensbury, which was formerly a staff club for Shell employees and is now a hotel and private leisure club. The Lensbury is wholly owned by Shell and its five named directors are all “oil company executives” according to filings to Companies House, including Mike Napier, executive vice-president of external communications at Shell.

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Green really is the new black as Big Oil gets a taste for renewables

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Terry MacalisterSaturday 21 May 2016

The world’s largest oil companies have in recent weeks announced a series of “green” investments – in wind farms, electric battery storage systems and carbon capture and storage (CCS). These unexpected moves come hot on the heels of revelations by Saudi Arabia, the world’s biggest crude exporter, that it plans to sell off parts of its national oil company and diversify its economy away from petroleum.

They also come in the aftermath of a United Nations climate change agreement and before annual general meetings for Shell and Exxon Mobil this week, meetings at which shareholders will demand that more be done to tackle climate change.

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Could Royal Dutch Shell plc drop to 1,000p?

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By Prabhat Sakya – Thursday, 19 May, 2016

Change is an unavoidable part of business. Schlumpeter’s concept of “creative destruction” means that no company can afford to stand still.

For example, the photographic industry, which had always been based on film, made the move to electronic CCD technology, and people now take photos not just using digital cameras but also phones and tablets.

And the television was based on the clunky and expensive cathode ray tube (CRT) for around a century, but now LCD and LED flat screens have transformed this sector.

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Shell Looks for a Hedge Against Climate Change

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Screen Shot 2016-04-20 at 13.50.03BGeoffrey Smith: MAY 16, 2016

Royal Dutch Shell is creating a new unit specially for renewables and alternative energy, but it continues to insist that its current business of burning hydrocarbons is under no threat from global policies to mitigate climate change.

The company told investors last week that it will combine its modest operations in green energy—biofuels, wind and solar technologies—into a business unit called “new energies” under its natural gas business. It will go public with the idea in June, according to The Guardian.

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Shell creates green energy division to invest in wind power

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Terry Macalister Energy editor: Sunday 15 May 2016 16.08 BST

Shell, Europe’s largest oil company, has established a separate division, New Energies, to invest in renewable and low-carbon power.

The move emerged days after experts at Chatham House warned international oil companies they must transform their business or face a “short, brutal” end within 10 years.

Shell’s new division brings together its existing hydrogen, biofuels and electrical activities but will also be used as a base for a new drive into wind power, according to an internal announcement to company staff.

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Protesters block train tracks to 2 Washington refineries near Anacortes

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Protesters walk north along West March Point Road Saturday past the Tesoro Refinery rail yard near Anacortes. About 1,000 people walked the six-mile round trip to the tip of March Point, home to two refineries. (Scott Terrell)

By PHUONG LE: The Associated Press: May 14, 2016

Hundreds of climate activists on Saturday marched to the site of two refineries in northwest Washington state to call for a break from fossil fuels, while a smaller group continued to block railroad tracks leading to the facilities for a second day.

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Shell participates in bid for Dutch offshore wind farm

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Markets | Thu May 12, 2016 12:40pm EDT

By Toby Sterling and Thomas Escritt

May 12 Royal Dutch Shell is in a consortium bidding to build two 350 megawatt wind farms off the coast of the Netherlands, the oil company said on Thursday, delivering on a promise to invest more in wind energy.

Shell, bidding in the Dutch government tender together with energy company Eneco and contractor Van Oord NV, will use turbines built by Vestas if successful, the three companies in the consortium said in a statement.

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Philippines investigates Shell and Exxon over climate change

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Emma Howard in Manila: Saturday 7 May 2016

Can Chevron, ExxonMobil and BP be held accountable for the vulnerable communities most affected by climate change?

It’s a question a legal case in the Philippines could answer.

Last month, lawyers for the petitioners met with the Commission on Human Rights of the Philippines (CHR), a constitutional body tasked with investigating human rights violations. Their goal was to identify expert witnesses for a hearing into the liability of 50 of the biggest fossil fuel companies for violating the human rights of Filipinos as a result of catastrophic climate change.

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Not-so-Big Oil

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May 7th 2016

IT HAS been a grim decade for investors in international oil firms—among them, many of the world’s biggest pension funds. Even before oil prices started to fall in 2014, the supermajors threw money away on grandiose schemes: drilling in the Arctic and building giant gas terminals. Their returns have trailed those of other industry-leading firms by a huge margin since 2009.

In the past 18 months things have gone from bad to worse. The Boston Consulting Group, a consultancy, calls it the industry’s “worst peacetime crisis”. That is evident in first-quarter results released in the past week by Exxon Mobil and Chevron of America, and European rivals, Royal Dutch Shell, BP and Total, which bear the scars of a collapse in oil prices to below $30 a barrel in mid-February (see chart).

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Oil giants should ditch high-cost projects, thinktank says

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Terry Macalister Energy editor: Thursday 5 May 2016

These leading energy companies including Exxon Mobil should ditch high-cost projects in deep water and Canadian tar sands to concentrate on cheaper schemes that make money at low crude prices, says the report, Sense and Sensitivity, by the Carbon Tracker Initiative.

The report follows shareholder resolutions calling on oil companies to undertake “stress tests” on operations in the face of stronger carbon regulation and weakening fossil fuel demand as countries move to lower-carbon economies.

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VW and Shell try to block EU push for electric cars

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Arthur NeslenThursday 28 April 2016 

VW and Shell have united to try to block Europe’s push for electric cars and more efficient cars, saying biofuels should be at heart of efforts to green the industry instead.

The EU is planning two new fuel efficiency targets for 2025 and 2030 to help meet promises made at the Paris climate summit last December.

But executives from the two industrial giants launched a study on Wednesday night proposing greater use of biofuels, CO2 car labelling, and the EU’s emissions trading system (ETS) instead.

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Shell chairman joins new climate group involving NGOs

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Pilita Clark, Environment Correspondent: April 28, 2016

The chairman of Royal Dutch Shell, Charles Holliday, has joined executives from BHP Billiton and other big energy companies on a new body exploring whether some of the fossil fuels that businesses such as theirs produce should stay in the ground.

The chief executive of Germany’s RWE, Peter Terium, has also joined the Energy Transitions Commission, which was set up by certain energy companies, investors and non-governmental organisations…

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Dalhousie Dean of Science feared oil company’s revenge over divestment

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By Charles Mandel in News, Energy | April 27th 2016

For years, Royal Dutch Shell has tried to portray itself as one of the good guys in the battle against climate change. It recently completed improvements to an oil upgrader in Fort Saskatchewan, near Edmonton, to capture up to a third of its greenhouse gas emissions – equivalent to removing the annual pollution of about 250,000 cars.

On its website, the company posts stories about how to achieve a low-carbon-future and sponsors a fuel efficient vehicle in the eco-marathon.

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Carbon capture: Collaboration needed says Shell head

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By John McManus: BBC News: 14 April 2016

The head of energy giant Shell’s UK and Ireland operations has said the UK government should have continued to support a scheme to develop carbon capture technology.

The technology – to store carbon emissions from fossil fuels underground – was being developed at Peterhead power station with the help of Shell.

Chancellor George Osborne cancelled the competition in his Autumn Statement.

Shell’s Paul Goodfellow said the technology needed more development.

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Shell CEO van Beurden sees a global carbon price as inevitable

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ABC.Net.Au: by Babs McHugh: 13 April 2016

The head of one of the world’s largest oil and gas companies says market forces will eventually result in a global price on carbon.

Royal Dutch Shell CEO Ben van Beurden made the call at the 18th International LNG Conference underway in Perth.

Mr van Beurden also championed the need for greater innovation in accessing new oil and gas reservoirs at acceptable costs, while acknowledging the tough position producers faced.

“Market conditions are pretty challenging,” he said.

“But at the same time new markets are opening up, like Thailand, Pakistan and even Poland.

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Lower oil without higher growth

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Screen Shot 2016-03-28 at 11.17.16By Ed Crooks: April 8, 2016

The failure of falling oil prices to give much of a boost to global growth has been one of the big issues in the world economy this year. The FT’s Chris Giles gave a magisterial overview of why oil has been the shot in the arm that missed its target, although he raised the more cheerful possibility that the stimulus may simply be deferred until next year.

The correlation between oil prices and share prices has remained in full effect, even though an unexpected drop in US crude inventories boosted oil for a while. Brent crude began Friday at about $40 per barrel, up 48 per cent from its low point in January, but still down 65 per cent from its peak in June 2014.

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Exxon and Shell Double Down to Defeat Climate Change Legislation

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Screen Shot 2016-04-08 at 15.55.29Nika Knight, Common Dreams: April 8, 2016

The dark channels through which corporations influence legislation are notoriously hard to trace, but a new detailed report estimates that the world’s largest fossil fuel companies are spending upwards of $500 million per year to obstruct climate laws.

Published Thursday by the UK-based non-profit InfluenceMap, the report looked at two fossil fuel giants (ExxonMobil and Royal Dutch Shell) and three trade lobbying groups, discovering that all together the five companies spend $114 million dollars a year to defeat climate change legislation.

More significantly, InfluenceMap says, “Extrapolated over the entire fossil fuel and other industrial sectors beyond, it is not hard to consider that this obstructive climate policy lobbying spending may be in the order of $500m annually.”

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Sideways moves

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By Ed Crooks: April 1, 2016

Oil prices went sideways all week, with Brent crude edging up above $40 on Thursday.  Hedge funds have made record bets on rising crude prices, but everyone is still watching prospects for the scheduled meeting of Opec and non-Opec oil producers in Doha, Qatar on April 17. Qatar’s oil minister said 12 countries had so far agreed to attend, including most Opec members and Russia. Reuters provided a useful factbox on the countries that could be present at the meeting.  Ecuador is one of the Opec members trying to persuade non-member countries to join in a commitment to freeze production.

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Scientists Warn of Perilous Climate Shift Within Decades, Not Centuries

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By JUSTIN GILLISA version of this article appears in print on March 23, 2016, on page A11 of the New York edition

The nations of the world agreed years ago to try to limit global warming to a level they hoped would prove somewhat tolerable. But leading climate scientists warned on Tuesday that permitting a warming of that magnitude would actually be quite dangerous.

The likely consequences would include killer storms stronger than any in modern times, the disintegration of large parts of the polar ice sheets and a rise of the sea sufficient to begin drowning the world’s coastal cities before the end of this century, the scientists declared.

“We’re in danger of handing young people a situation that’s out of their control,” said James E. Hansen, the retired NASA climate scientist who led the new research. The findings were released Tuesday morning by a European science journal, Atmospheric Chemistry and Physics.

A draft version of the paper was released last year, and it provoked a roiling debate among climate scientists. The main conclusions have not changed, and that debate seems likely to be replayed in the coming weeks.

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Shell hospitality tour for EU diplomats branded ‘PR exercise’ by campaigners

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Arthur NeslenFriday 18 March 2016 

An email seen by the Guardian invites energy attaches from the EU’s 28 countries to visit the Shell technology Centre, take an ‘oil majors and oil paintings’ tour of the Van Gogh Museum, and have lunch with Shell’s president in the Netherlands.

Brook Riley, a spokesman for Friends of the Earth Europe said: “It is disgraceful to see Shell splurging profits from dirty, dangerous gas extraction on a blatant PR exercise, with the full support of the Dutch government. It is no wonder the EU’s energy plans are assuming zero improvements in efficiency or renewables. They are acting as though climate change does not exist.”

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Shell worries about climate change, but decides to continue making it worse

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Screen Shot 2016-02-17 at 08.47.47By Katie Herzog on 14 Mar 2016

Shell Oil released its 2015 annual review last week, and the most surprising thing in it may be how concerned the company is with climate change. It’s hardly what you’d expect from Big Oil, and yet the words “climate change” occur 15 times in the 228 page report. While this may seem minor, it’s a hell of a lot more than climate change is discussed by most other oil monsters (Looking at you, Exxon). Shell, unlike many oil giants, actively acknowledges and even embraces climate action — at least, on paper. “It was encouraging to see governments reach a global climate agreement in Paris in December,” the report reads. “The agreement should now encourage countries to develop policies that balance environmental concerns with enabling a decent quality of life for more people.”

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