Royal Dutch Shell plc .com Rotating Header Image

Posts under ‘Climate Change’

Opec bends the markets

screen-shot-2016-12-03-at-08-16-41By Ed Crooks, December 2, 2016

In 451 CE, the great Roman general Flavius Aetius rallied a motley army of imperial troops and barbarian allies, and halted the advance of Attila’s Huns at the Catalaunian Plains in Gaul, buying the empire some time and temporarily interrupting its long-term decline. This week’s Opec meeting in Vienna had something of the same feel about it.

Opec’s power peaked in the 1970s, and the US shale oil revolution of the past half-decade has threatened to consign the cartel’s influence to history. But by agreeing a deal to cut production on Wednesday, the Opec ministers showed that if they all acted together they could still bend the oil markets to their will, at least for a while.

read more

We Must Harness the Power of Carbon Capture

screen-shot-2016-12-02-at-16-26-47

Ben Van Beurden

Van Beurden is the CEO of Royal Dutch Shell

“To make investments in clean energy technologies more attractive, governments must set an effective price on CO2 emissions”

Nobody can predict the future, but it is highly likely that global energy demand will grow for decades to come. There will be more people on this planet, more people will be living in cities, and more people will be seeking a better life. “A better life” in this context does not mean a tv in every room or a new smartphone every year. It does mean adequate housing, healthcare, sanitation, and modern transport.

read more

Shell studying acquisitions in the green energy sector

screen-shot-2016-12-01-at-10-30-43

screen-shot-2016-11-09-at-19-58-01Written by Reporter – 30/11/2016 2:02 pm

Shell said it is studying acquisitions in the green energy sector.

It comes amid shareholder pressure to look at a strategy beyond fossil fuels.

The oil major currently has a market value of $200billion and produces 2% of the world’s oil and gas.

Chief executive Ben Van Beurden said: “The idea you can just be a very clever observer and step in when the moment is right, forget about it.

“I am convinced that in this space we will play an active role, a leafing role and we will plan acquisitions in it.”

read more

Shell studies green energy deals to prepare for future after oil

screen-shot-2016-11-14-at-10-17-26

screen-shot-2016-11-30-at-17-20-47

By Karolin Schaps and Ron Bousso | LONDON

Royal Dutch Shell, the world’s second-biggest publicly listed oil company, is studying acquisitions in the green energy sector, its CEO told Reuters, as it bows to shareholder demands for a strategy beyond fossil fuels.

Shell, which has a market value of $200 billion, produces two percent of the world’s oil and gas but rapid technological change coupled with policies to protect the climate have kick-started a shift in energy markets that has put enormous pressure on oil companies to plan for a time after fossil fuels.

read more

Shell Canada President Michael Crothers says Canada should stick to its values

screen-shot-2016-11-29-at-15-33-15

Shell Canada President Michael Crothers (above) says “Canada should stick to its values and do something to protect the environment, regardless of what policy tack the incoming U.S. president takes.”

See CBC News article: Canada shouldn’t lose resolve for a carbon tax, says Shell exec (Published 29 November 2016)

This is the most breathtaking hypocrisy on the part of Shell and Mr. Crothers.

Shell is responsible for nightmarish pollution of the Niger Delta in Nigeria. It has already settled related litigation and more is underway:

read more

Opec cuts neither dead nor alive

screen-shot-2016-11-12-at-10-34-30

screen-shot-2016-11-28-at-20-34-20

screen-shot-2016-11-08-at-16-03-35

By Ed Crooks November 28, 2016

Opec’s possible production cut is the oil market equivalent of Schrödinger’s cat: neither dead nor alive. When they met in Algiers in late September, Opec ministers agreed the need to reduce output, but left the allocation of the cuts between individual members to be finalised later. If they cannot agree on that, the deal will die. At their meeting in Vienna on Wednesday, the ministers will have to open the box, and we will find out whether or not the agreement is still breathing.

read more

Shell CEO expects no valuation hit from climate accord

screen-shot-2016-11-14-at-10-17-26

screen-shot-2016-11-28-at-17-35-30

Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation.

In an interview with Dutch newspaper Het Financieele Dagblad, Ben van Beurden said the issue of “stranded” reserves – deposits in the ground that cannot be used because of carbon emissions limitations – would have no impact on balance sheets.

read more

Obama administration bans Arctic offshore oil drilling through 2022. But will Trump reverse it?

screen-shot-2016-11-19-at-16-52-17

screen-shot-2016-11-19-at-16-53-14

screen-shot-2016-11-19-at-16-57-09

By William Yardley: 18 Nov 2016

The Obama administration said Friday it was banning offshore oil drilling in the Arctic through 2022, a move that prompted widespread praise from conservation groups but raised questions over how long the decision will stand just two months before President-elect Donald Trump takes office.

A new five-year leasing program prohibits any drilling in the Beaufort and Chukchi seas — an environmental battleground in recent years —and also blocks expansion in the Atlantic and Pacific oceans, while allowing some new leasing in the Gulf of Mexico.

read more

Not dead yet

screen-shot-2016-11-12-at-10-34-30

screen-shot-2016-11-19-at-15-54-51

screen-shot-2016-11-08-at-16-03-35

By Ed Crooks: November 19, 2016

The last rites have been read over the Age of Oil a few times recently, but this week the International Energy Agency suggested there was still plenty of life left in it yet.

In its 2016 World Energy Outlook, the IEA argued that even if the Paris climate agreement were fully implemented, demand for oil would keep rising until at least 2040.

The message was reassuring for oil producers worried that “peak demand” might condemn them to stagnation or decline, or even put them out of business. There was colder comfort, however, in a warning from Wood Mackenzie that big oil companies risked being left behind in the transition to low-carbon energy.

read more

Shell to axe 380 finance jobs in Glasgow in favour of cheaper offices overseas

screen-shot-2016-11-16-at-15-49-52

By Emily Gosden, energy editor: 16 NOVEMBER 2016 • 1:38PM

Royal Dutch Shell is to axe 380 jobs in Glasgow as it shuts its only UK finance operations office in favour of cheaper locations in Poland, India, South Africa, Malaysia and the Philippines.

The oil giant’s announcement that it plans to close its Bothwell Street office in the city as part of its cost-cutting drive brings the total number of jobs shed from its UK operations over the past 18 months to more than 1,350.

Staff in the Glasgow office, who undertake back-office administrative tasks such as processing invoices and managing travel and expenses, face “involuntary severance” as Shell moves their work to other offices in its “global Shell Business Operations network”.

read more

Trump’s victory could hurt Royal Dutch Shell plc’s future

screen-shot-2016-10-07-at-09-05-51

screen-shot-2016-11-14-at-10-41-57

screen-shot-2016-10-06-at-13-11-55

By The Motley Fool  Nov 14, 2016

Donald Trump’s views on climate change may provide a boost to oil production in the US. He stated in his campaign that the US was being disadvantaged by rules and regulations aimed to prevent (or at least slow down) climate change. This could signal a more positive attitude from the US government towards oil and gas companies over the medium term.

Although there’s no certainty that Trump will follow through on his campaign policies when he becomes President, it seems likely that he’ll be less positive about battling the effects of climate change than Barack Obama. This could be bad news for Shell(LSE: RDSB).

read more

Trump energised

screen-shot-2016-11-12-at-10-43-03

By Ed Crooks, November 11, 2016

“Between a battle lost and a battle won, the distance is immense and there stand empires,” said Napoleon. The same is true of elections.

Donald Trump may have come slightly behind Hillary Clinton in the popular vote for the presidency, but his convincing victory in the electoral college will give him the ability to reshape the energy industry in the US and around the world.

His hand will be strengthened by Republican control of Congress. Parts of Mr Trump’s agenda will face resistance in Congress, but his energy policy is unlikely to be one of those areas. His support for oil, gas and coal, his commitment to deregulation and his rejection of climate policy are all well aligned with mainstream Republican thinking.

read more

Oil chiefs under fire over ‘pathetic’ new climate investment fund

Screen Shot 2016-09-07 at 14.28.11

screen-shot-2016-11-04-at-20-09-08

screen-shot-2016-11-04-at-20-26-48

Emily Gosden, energy editor: 4 NOVEMBER 2016 • 7:53PM

Oil giants including BP and Shell have been pilloried by climate campaigners after disclosing their annual contributions to a much-hyped new green investment fund would be less than BP chief Bob Dudley earned last year.

Mr Dudley and Royal Dutch Shell chief executive Ben van Beurden were among industry heavyweights who appeared at an event in London to announce plans by the Oil and Gas Climate Initiative (OGCI) to invest $1bn in “innovative low emissions technologies” over the next ten years.

read more

Hold the champagne

Screen Shot 2016-09-02 at 12.53.40

screen-shot-2016-11-04-at-19-29-23

screen-shot-2016-11-03-at-14-50-16By Ed Crooks, November 4, 2016

If you are looking forward to the oil industry recovery, you shouldn’t break out the champagne just yet.

Over the past eight days, the world’s largest listed oil companies have released third quarter earnings reports. From all of them, the message was that while the worst might be over, they were still facing a long hard road ahead.

The snap reactions from the stock market were mixed: positive for  ChevronRoyal Dutch ShellTotal and ConocoPhillips; negative for ExxonMobilBPEniStatoilPetrochina and Cnooc.

read more

Oil majors pledge $1 billion for technologies to fight climate change

screen-shot-2016-10-31-at-19-27-20

screen-shot-2016-11-04-at-14-31-11

screen-shot-2016-11-04-at-14-32-40

By Karolin Schaps and Ron Bousso | LONDON

Some of the world’s biggest oil companies, including Saudi Aramco and Royal Dutch Shell, pledged on Friday to invest $1 billion to help fight climate change as a global deal to wean the world off fossil fuels came into force.

The Oil and Gas Climate Initiative (OGCI), which also includes Total, BP, Eni, Repsol, Statoil, CNPC, Pemex [PEMX.UL] and Reliance Industries, has established the Climate Investments fund which will help develop carbon-reducing technologies over the coming ten years.

read more

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

screen-shot-2016-10-13-at-10-39-14

screen-shot-2016-11-04-at-09-52-10

screen-shot-2016-10-16-at-09-04-40

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.’’

read more

Big Oil Slowly Adapts to a Warming World

screen-shot-2016-11-03-at-12-09-13screen-shot-2016-11-03-at-12-06-52

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.

read more

Oil majors join forces in climate push with renewable energy fund

screen-shot-2016-10-31-at-19-27-20

screen-shot-2016-11-03-at-11-44-22

screen-shot-2016-11-03-at-11-57-46

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.

read more

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

screen-shot-2016-10-16-at-20-57-40

screen-shot-2016-10-25-at-17-00-59

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.

read more

Survival in the harsh conditions of the oil downturn

screen-shot-2016-10-21-at-16-56-28

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.

read more

The global market is still awash with crude

screen-shot-2016-10-14-at-19-57-21

By Ed Crooks: 14 October 2016

As the new Nobel prize-winner for literature once put it, something is happening here. The successful IPO this week by a US exploration and production company, Extraction Oil & Gas, was the first in the sector since crude prices started to slide in the summer of 2014. Along with the slide in energy junk bond yields, and signs of a corresponding thaw in E&P junk bond issuance, which has been essentially frozen all year, it is clear evidence that investor confidence in the US oil industry is returning.

read more

FT Energy Source Weekly Briefing

Screen Shot 2016-09-02 at 12.53.40

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.

read more

Alberta NDP not celebrating carbon capture milestone

screen-shot-2016-09-28-at-11-22-03

screen-shot-2016-09-28-at-11-21-17

screen-shot-2016-09-28-at-11-24-44

cropped-Screen-Shot-2016-09-09-at-20.58.10.jpgFrom left, Alberta Minister of Energy Marg McCuaig-Boyd, Shell Canada President Lorraine Mitchelmore, CEO of Royal Dutch Shell Ben van Beurden, Marathon Oil Executive Brian Maynard, Shell ER Manager, Stephen Velthuizen, and British High Commissioner to Canada Howard Drake open the valve to the Quest carbon capture and storage facility in Fort Saskatchewan Alta, on Friday November 6, 2015. Quest is designed to capture and safely store more than one million tonnes of CO2 each year an equivalent to the emissions from about 250,000 cars. JASON FRANSON / THE CANADIAN PRESS

read more

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.

read more

Shell begins production at world’s deepest underwater oilfield

screen-shot-2016-09-11-at-21-08-37

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.”

read more

No oil freeze yet

Screen Shot 2016-09-02 at 12.53.40

screen-shot-2016-09-09-at-18-24-51

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.

read more

Shell CEO: Red lights on path to greener energy

screen-shot-2016-09-08-at-11-50-21

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.

read more

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.

read more

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

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-08-29 at 18.12.46

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

read more

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

Screen Shot 2016-06-07 at 10.05.47

Screen Shot 2016-08-16 at 20.52.27

Screen Shot 2016-08-16 at 21.05.55

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.

read more

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

Screen Shot 2016-06-07 at 10.26.02

Screen Shot 2016-07-20 at 07.36.57

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.”

read more

Uncertainty in the oil price war

Screen Shot 2016-07-15 at 21.19.16

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.

read more

Oil Is Facing The Perfect Storm

Screen Shot 2016-07-15 at 09.19.07

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.

read more

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

Screen Shot 2016-07-02 at 16.03.53

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.

read more

Brexit impact fades

Screen Shot 2016-07-01 at 21.34.02

Screen Shot 2016-05-30 at 15.37.19

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.

read more

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

Screen Shot 2016-06-07 at 10.05.47

Screen Shot 2016-07-01 at 10.19.11

Screen Shot 2016-07-01 at 10.21.41

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.

read more

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

Screen Shot 2016-06-30 at 11.22.27

Screen Shot 2016-06-30 at 11.23.16

Screen Shot 2016-06-30 at 11.24.09

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.

read more

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

Screen Shot 2016-06-30 at 11.13.18

Screen Shot 2016-06-30 at 11.19.56

Screen Shot 2016-06-30 at 11.15.38

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.”

read more

Brexit and Brent

Screen Shot 2016-06-24 at 16.20.14

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”.

read more

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

Screen Shot 2016-06-20 at 07.38.53

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.

read more

Short term strength

Screen Shot 2016-06-17 at 15.18.11

Screen Shot 2016-06-14 at 16.53.34

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.

read more

Latin America must safeguard energy investors: industry leaders

Screen Shot 2016-06-17 at 08.55.46

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.

read more

Bad news for fossil fuels

Screen Shot 2016-06-10 at 16.17.14

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.

read more

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.

read more

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.

read more

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

Screen Shot 2016-05-26 at 09.19.07

Screen Shot 2016-05-26 at 09.19.45

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.

read more

Shell CEO warns renewables shift could spell end if too swift

Screen Shot 2016-05-24 at 16.37.12

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.

read more

Exxon Investors Seek Assurance as Climate Shifts, Along With Attitudes

Screen Shot 2016-05-24 at 09.58.54

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.

read more

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

Screen Shot 2016-05-23 at 21.47.57

Screen Shot 2016-05-23 at 21.46.48

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.

read more

Royal Dutch Shell faces demand to reveal all on climate change

Screen Shot 2016-05-23 at 19.39.57

Screen Shot 2016-05-23 at 19.41.28

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.

read more

%d bloggers like this: