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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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Shell drops legal attempt to extend offshore lease terms in the Arctic

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Screen Shot 2016-06-25 at 10.21.36Shell drops legal attempt to extend offshore lease terms in the Arctic

Author: Yereth Rosen: 24 June 2016

Months after abandoning its plans for oil exploration in Arctic waters off Alaska, Royal Dutch Shell has dropped its legal effort to hold onto those offshore leases.

Shell notified the Interior Department it will no longer pursue its appeals of a decision that denied extension of the company’s oil leases in the Chukchi and Beaufort seas off Alaska. The department’s Board of Land Appeals on Thursday granted Shell’s request and dismissed the case.

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Police Confirm Attack On Shell Facility In Nigeria

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Screen Shot 2016-06-07 at 23.34.38By Lincoln Brown – Jun 24, 2016

Police in the area of Imo in Nigeria have confirmed that there has been an attack on a Shell Petroleum Development Company (SPDC) facility there. The attack, which was in the Ohaji/Egbema Local Government area took place early Thursday.

One source told the News Agency of Nigeria that the attack came at 5:30 in the morning and reported an explosion that created a great deal of flame. That source could not confirm if anyone was killed in the incident.

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Dutch government lowers Groningen gas output cap to 24 bcm

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Reuters: Friday, June 24, 2016

THE HAGUE, June 24 The Dutch government said on Friday it would lower the cap on production at the Groningen gas field, which has supplied up to 10 percent of European demand, to 24 billion cubic metres a year for the next five years.

The decision to lower the ceiling from 27 bcm, beginning on Oct. 1, follows a recommendation by the Dutch National Mines Inspectorate.

The Dutch government has been steadily reducing output at Groningen, prompted by a spate of earthquakes linked to production that caused extensive property damage in the northern province.

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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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Shell Canada approved to resume drilling off Nova Scotia

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By Brett Ruskin, CBC News Posted: Jun 22, 2016 

Nova Scotia’s offshore regulator has given Shell Canada permission to resume drilling the first of two exploratory wells, following an incident earlier this year which saw a two-kilometre-long pipe to fall to the ocean floor.

The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) said drilling can resume Wednesday, but Shell Canada faces new restrictions that will remain in place until the regulator completes further reviews.

Shell Canada’s contracted drill ship, the Stena IceMAX, will now have to disconnect from the sub-sea well head once waves reach five metres in height. Previously, the limit was eight metres.

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Dutch Winter Gas Rises to Six-Month High Before Output Decision

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Screen Shot 2016-06-22 at 10.28.33Netherlands may decide on Groningen field production on Friday

By Rob VerdonckFred Pals: June 22, 2016 – 11:17 AM BST

Dutch natural gas advanced to the highest since December before a government decision on production from Europe’s biggest field expected on Friday.

The winter contract, for the six months from October, gained as much as 5.1 percent, according to broker data compiled by Bloomberg. Dutch Economy Minister Henk Kamp expects the government to decide on output from the Groningen field on Friday, the ANP news agency reported late Tuesday after De Telegraaf newspaper said gas extraction linked to earthquakes would be curbed by another 11 percent.

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Dutch agency calls for further cut in Groningen gas production

Screen Shot 2016-06-22 at 10.29.52The agency declined to comment.

The Cabinet is expected to announce its production plans for the field for the period after Oct. 1, 2016 on Friday, after several cuts in the past year have left it at the rate of 27 bcm on an annualized basis.

The final decision will be based on the recommendations from the agency, Groningen’s operator NAM, a joint venture of Royal Dutch Shell and Exxon, and six other parties.

A majority of lawmakers Dutch parliament have called for production to be cut as far as possible to reduce earthquakes in the northern province caused by the gas extraction.

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Militancy: Shell Suspends Further Repairs, Clean Up

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Militants of the Movement for the Emancipation of the Niger Delta travelling between camps. Photograph: Veronique de Viguerie/Getty Images

June 19, 2016

Sopuruchi Onwuka

Screen Shot 2016-05-21 at 10.18.28Shell Petroleum Development Company (SPDC) Limited has declared suspension of further interventions in pipeline repairs and environmental remediation in Niger Delta following relentless attacks on facilities by militants in the region.

The decision which has grim implication on government revenue, according to the company, followed second attack on the company’s Forcados export pipeline just after repairs on the first damages by militants on the offshore section of the line.

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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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Gazprom and Shell committed to broader cooperation in LNG sector

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Gazprom and Shell committed to broader cooperation in LNG sector

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Greenpeace image relating to Shell/Russia Arctic Drilling Plans

June 16, 2016, 17:30

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Shell, took place today at the St. Petersburg International Economic Forum 2016.

The parties discussed the progress of and prospects for strategic cooperation in the LNG sector, paying particular attention to the construction project for the third production train of the LNG plant on Sakhalin Island (Sakhalin II project). Design and FEED documentation are currently being prepared for the new production train.

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Militants Claim Responsibility for Another Attack in Nigeria

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By Staff WriterJun 16, 2016

Oil majors including Chevron Corporation (NYSE:CVX) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A) heaved a sigh of relief when militant group, Niger Delta Avengers (NDA) agreed to hold peace talks with the Nigerian government. However, the relief was short-lived when on Thursday the militant group claimed to have blown up another pipeline owned by the Nigerian National Petroleum Corporation (NNPC).

The attack comes as a great setback for oil producers and the Nigerian government as the militant group had agreed to hold talks with them, provided certain conditions were met. The NDA tweeted from one of its unverified accounts:

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Royal Dutch Shell, Chevron Corporation: Niger Delta Avengers Agree to Peace Talks

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By Staff WriterJun 14, 2016

Screen Shot 2016-05-21 at 10.18.28Finally, Royal Dutch Shell plc (ADR) (NYSE:RDS.A), Chevron and other oil and gas companies can heave a sigh of relief as the militant group, Niger Delta Avengers has agreed to consider peace talks with the Nigerian government. The group has said that it does not have new demands, as it just wants foreign oil and gas companies to leave the southern region of the Niger Delta and stop oil pollution.

The group said it wants “genuine attitude” by the government and a “conducive atmosphere” to carry out dialogue. This is definitely good news for the Nigerian economy and international energy companies which have suffered badly in the past few months. The Avengers started to attack oil infrastructure in February, when they blew up Shell’s Forcados terminal and under-water pipeline.

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BP plc, Royal Dutch Shell: A Major Shift in Energy Industry on its Way

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By Gas By Staff WriterJun 13, 2016 at 11:34 am EST

As awareness about the hazardous effects of fossil fuels is increasing, and governments and environmentalist groups are encouraging the use of renewable energy sources, it seems as if a major change in global energy sector is on its way. Over the past few years, the global energy arena has witnessed a number of changes, as coal has lost its dominant position in the industry, while consumption of renewable energy sources has increased in power generation.

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What the future of the petrol station looks like, from renewable energies to driverless cars

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Lauren Davidson12 JUNE 2016 • 11:44PM

It’s a wonder Istvan Kapitany, executive vice-president of retail at Royal Dutch Shell, gets any work done. The view from his office on the 22nd floor of Shell’s headquarters on the South Bank looks out over some of the most impressive landmarks in the capital, including the London Eye and the Palace of Westminster.

Though not at the top level just yet – the Shell Centre has 26 floors – Kapitany has certainly climbed his way through the ranks since joining Shell in 1987 as a petrol station manager in Hungary, his home country.

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Waiting for Big Oil to clean up its act

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Screen Shot 2016-06-11 at 22.29.07By Jillian Ambrose

11 JUNE 2016 • 7:22PM

“The world is going to have to continue using fossil fuels, whether they like it or not.” There’s little disguising the defiance in the words of Exxonmobil chief Rex Tillerson.

In a Dallas concert hall, less than six months after the historic global climate deal in Paris, the long-standing leader of the world’s largest listed oil company locked horns with shareholders in an increasingly familiar battle for Big Oil.

For years, placard-wielding green activists have raised warnings that echo the financial collapse: a “carbon bubble” could leave markets reeling as trillions of dollars’ worth of existing fossil fuel assets become worthless in a low-carbon world.

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CO2 disposal

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I read this article this morning in Google News. I thought your readers might find this interesting. The author of the article is somewhat ignorant about geology, which is why I included a number of links for further reading.

Scientists turn CO2 to stone in just two years: a solution for climate change? (+video)

Researchers at the world’s largest geothermal power plant have found a way to store carbon dioxide underground and turn it to rock.

Related articles:

As it happens to be there are very large basalt deposits in the US, India, and Siberia. In the US these are found in the central and eastern part of the state of Washington. These basalts are up to 2 miles thick in places. RDS drilled through them in the mid – 1980’s looking for oil and gas. There are also massive basalt deposits in the Snake River plain of Idaho. Basalts in the Snake River plain may be up to 5 miles in thickness. Here are some references :

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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 relinquishes Canadian Arctic drilling rights

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Screen Shot 2016-05-21 at 10.18.28By Mike De Souza in News, Energy | June 8th 2016

One of the planet’s largest oil companies has just walked away from a large swath of oil and gas reserves in the Canadian Arctic. But it says it hasn’t given up altogether on the prospects of drilling for the fossil fuels in the pristine waters of the North.

Royal Dutch Shell announced it was relinquishing 30 of its oil and gas leases around Lancaster Sound – a region of the Arctic Ocean that the government and local Inuit groups have long tried to protect as a vital habitat for threatened mammals such as narwhals, beluga whales and polar bears.

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Companies charged with workplace breaches following Corrib gas death

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Edwin McGreal: Belmullet: 08 JUNE 2016

Two companies have been sent forward to the Circuit Criminal Court in Castlebar on charges following a workplace accident which resulted in the death of a man working on the Corrib gas tunnel in 2013.

Twenty-six year old Lars Wagner was killed, in September 2013, while he was working on the construction of a tunnel for the Corrib gas project.

Mr Wagner, a German native, was working on boring a tunnel to carry the project’s gas pipeline under Sruwaddacon Bay to the Corrib gas refinery at Bellenaboy.

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Shell ‘fracked’ well in field that spilled oil into Gulf

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NEW ORLEANS — Fracking chemicals were used on at least one of the four Shell oil wells in an offshore field that leaked nearly 90,000 gallons of oil into the Gulf of Mexico last month, but those chemicals were likely long gone before the spill, federal regulators tell WWL-TV.

The government approved the use of a “frac pack” on Well No. 8 in Shell’s Glider Field, about 95 miles south of Port Fourchon, La., on Feb. 12, 2015, according to summaries of drilling permits archived on the federal Bureau of Safety and Environmental Enforcement website.

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Royal Dutch Shell Carries Out Repair Works in Nigeria Despite Security Threats

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By Micheal KaufmanJun 8, 2016 at 10:50 am EST

Although Royal Dutch Shell plc (ADR) (NYSE:RDS.A) is carrying out repair-work at two sites in Nigeria, the company said it could not “operate or repair” the facilities in the Niger Delta if its employees are not safe. The militant group, Niger Delta Avengers, has attacked Shell’s Nigerian facilities thrice in the past five months.

Attacks

First, the militants attacked Shell Forcados terminal and an under-water pipeline in February. The pipeline links offshore port with the onshore crude oil storage tanks. This was the first time that the group carried out an attack in public.

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Shell-Operated Nigeria Pipeline Said to Be Under Repair

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Screen Shot 2016-06-07 at 23.34.38Javier Blas: June 7, 2016

Repair work on a key Nigerian crude oil pipeline operated by Royal Dutch Shell Plc is ongoing under very tight security, according to a person familiar with the operations.

The repairs were being carried out in two different sites of the Forcados export pipeline, which was hit by explosions in February and again last week, said the person, who asked not to be named because of security concerns. Earlier Chief Financial Officer Simon Henry said the company had to withdraw repair crews last week after a second attack against the 48-inch Forcados pipeline that links onshore storage tanks with an offshore port.

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Chevron, Shell: Will Nigerian Crude Production Come to a Halt?

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By Micheal KaufmanJun 4, 2016 at 10:50 am EST

The Nigerian government’s problems are only expected to worsen; the militant group, Niger Delta Avengers, has vowed again to bring the country’s crude oil production to “zero.” In the past few months, the group has attacked oil and gas facilities of foreign energy companies, including Chevron, Shell, and Eni, in a bid to force them to leave the southern region of the Niger Delta. The militants want international oil companies to end oil pollution in the country and give a higher share of crude sale revenue to the locals.

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Niger Delta Avengers Attacks: Oil Production Grounded In Bayelsa As Agip, Aiteo, Shut Down 140,000bpd

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BY SAHARA REPORTERS, NEW YORK: JUN 05, 2016

The attacks by the militant group Niger Delta Avengers (NDA) on oil installations in Bayelsa State have effectively grounded the operations of Agip, Aiteo and Shell, with production outages by Agip and Aiteo alone now put at 140,000 barrels daily as from May 2016.

At $48 per barrel, an estimated $6.72 million daily is lost by the two operators due to the attacks on oil export pipelines being operated by those two companies.

Aiteo, operator of the Nembe Creek Trunk Line, which conveys crude to the Bonny export terminal, came under attack by the NDA on May 28, and spokesman Shola Omole said the line has been shut down.

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Shell confirms signs of leak in Forcados export pipeline after attacks

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Business | Fri Jun 3, 2016 7:18pm BST

Shell Petroleum Development Company of Nigeria Ltd on Friday confirmed signs of a leak in the 48 inch Forcados export pipeline at a location between shoreline and the Forcados terminal in the western Niger Delta.

Its statement came after a reported attack on the pipeline in the early hours of Friday.

“We are yet to fully evaluate the potential impact and damage to the pipeline resulting from this latest incident. We have however mobilized appropriate oil spill response measures,” Shell said in a statement.

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Shell confirms Avengers’ attacks on Forcados pipelines, suspends oil exports indefinitely

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June 3, 2016Samuel Ogundipe

The Shell Petroleum Development Company Limited, the Nigerian subsidiary of Dutch oil giant, Royal Dutch Shell, on Friday confirmed militants’ claims that a major damage was done to its oil installations in Delta State in the early hours of Friday, saying the attack had forced it to shut down crude exports indefinitely.

The statement corroborates earlier statements by the Niger Delta Avengers, a new militant group that has claimed responsibility for a series of attacks on oil installations, in renewed hostilities across the oil-rich region.

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Niger Delta Avengers claims responsibility for overnight attacks on Shell installations in Forçados

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June 3, 2016Samuel Ogundipe

The Niger Delta Avengers in the early hours of Friday claimed responsibility for another catastrophic attack on an oil facility owned by Shell Petroleum Development Company (SDPC) in Delta State, saying it had issued a prior warning to the oil giant to desist from carrying out any repair activities in the area.

“At 3:00 am today @NDAvengers blow (sic) up the SPDC Forcados 48″ export line. We warned SPDC not to go ahead with repair works but they refused.”

The attack followed a series of bombings that rocked Chevron, Agip and NNPC oil and gas installations across the Niger Delta in the last few days.

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Nigeria finally starts clean up of oil pollution

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Maggie Fick in Lagos: 2 June 2016

The Nigerian government is finally starting a long delayed clean up of the area which first brought the neglect of the country’s oil-producing communities into the global spotlight.

Millions of barrels of oil have been spilt since oil was discovered in the southerly Niger Delta region in 1956, with much of the environmental destruction occurring in an area known as Ogoniland. Over the decades there have been thousands of spills, many as the result of oil theft and sabotage, but activists say companies including Royal Dutch Shell have consistently failed to prevent or clean up spills.

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Shell continues investigation into offshore pipe mishap

Screen Shot 2016-06-03 at 08.27.16“We are still completing our assessment to fully understand what happened,” said Cameron Yost, spokesperson for Shell Canada Thursday.

“It’s too early to discuss the results or what our next steps may be.”

Earlier this year, the Stena IceMAX, a ship contracted by Shell Canada, dropped a specialized pipe, called a riser, onto the ocean floor.

The riser, used to connect a drill ship to an subsea well head, is now at the bottom of 2,000 metres of water.

The incident was caused by poor weather and rough seas, Shell officials said. No drill fluid or oil was leaked.

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Shell Nigeria boss warns Avenger attacks causing “significant decline” in production levels

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Screen Shot 2016-05-21 at 10.18.28Written by Niamh Burns – 01/06/2016 1:58 pm

Shell’s Nigerian country chair said recent attacks by terrorists in the country had contributed to a “significant decline” in production levels.

A number of companies oil sites have been attacked recently in a spate of attacks by the Niger Delta Avengers.

Earlier today the group revealed it had attacked a Chevron oil facility.

Speaking to Nigeria media, Osagie Okunbor said unrest in the region had impacted on production, delays to projects and loss of government revenue.

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Niger Delta: Government clean-up does not let Shell off the hook

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MAY 31, 2016

The multinational oil giant Shell must not be allowed to palm off its responsibility to clean up decades of oil pollution which continues to blight the Niger Delta, said Amnesty International ahead of the Nigerian government’s long overdue clean-up of Ogoniland, due to begin on June 2.  

Scores of oil spills from Shell operations in the Niger Delta have yet to be properly cleaned up, and even sites the multi-national company claims to have cleaned remain polluted. To make matters worse, there were at least 130 oil spills from Shell operations in 2015.

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Militants Blow up Shell, Agip Pipelines in Nigeria

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Screen Shot 2016-05-21 at 10.18.28By HILARY UGURU, ASSOCIATED PRESS: WARRI, Nigeria — May 28, 2016, 10:32 PM ET

Militants blew up strategic gas and crude pipelines belonging to Shell and Agip on Saturday in an increasingly fierce campaign that has chopped Nigeria’s oil production in half, militants and residents said.

A new militant group, calling itself the Niger Delta Avengers, reported in social media that they had dynamited the trunkline linking the Dutch-British Shell company’s Bonny terminal and the Brass export terminal of the Italian company Agip. A local community leader Eke-Spiff Erempagamo confirmed the attack.

Nigeria’s oil production had already fallen from a projected 2.2 million barrels a day to 1.4 million barrels before the latest attacks on the oil industry in southern Nigeria, including three within the past week on facilities of the U.S. oil major Chevron. Several companies have evacuated some of their workers.

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Shell Pipeline Leaks 20,000 Gallons of Oil in California’s Central Valley

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Ryan Schleeter, Greenpeace | May 27, 2016

For the second time in two weeks, Shell has spilled thousands of gallons of oil, this time in California’s Central Valley.

Less than two weeks after dumping nearly 90,000 gallons of oil into the Gulf of Mexico, Shell Oil is at it again. The company’s San Pablo Bay Pipeline, which transports crude oil from California’s Central Valley to the San Francisco Bay Area, leaked an estimated 21,000 gallons into the soil near in San Joaquin County this week.

Responders are on the scene to clear oil that’s reached the surface, which county officials say covered roughly 10,000 square feet of land. As of today, Shell representatives claim the pipeline has been repaired, but have not resumed operations.

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Nigeria: Militants Strike Again in N-Delta, Attack Shell, Agip Pipelines

Screen Shot 2016-05-30 at 10.34.21By Emma Amaize, Sam Oyadongha, Egufe Yafugborhi, Brisibe Perez and Akpokona Omafuaire: 29 May 2016

Delta militants blew up trunk lines belonging to Nigerian Agip Oil Company, NAOC, and Shell Petroleum Development Company, SPDC, in Bayelsa State, while soldiers took over Oporoza community, the headquarters of Gbaramatu Kingdom in Warri South-West Local Government Area of Delta State.

An industry source, who confirmed the attacks, believed to have been carried by the Niger Delta Avengers (NDA) group, told Sunday Vanguard: “Information at my disposal is that somewhere around the Lagos-gbene axis of the Tebidaba-Bras trunk line, was attacked with dynamites, this morning (yesterday).

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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 pipeline fixed after spill near Tracy, California – ABC News

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(Reuters) – A Royal Dutch Shell (RDSa.L) pipeline near Tracy, California has been repaired after spilling up to 21,000 gallons of oil, ABC News reported on its website on Tuesday.

Shell shut down its San Pablo Bay pipeline at Tracy, California last week after noticing very low suction and increased flow rate.

Shell did not give a timeline for the resumption of oil flow, according to the report.

(Reporting by Harshith Aranya in Bengaluru; Editing by Frances Kerry)

SOURCE

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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Shell AGM sees US Gulf drilling protest

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Eoin O’Cinneide  24 May 2016 13:15 GMT

Shell came under fire at its annual general meeting on Tuesday as a delegate led a photographic demonstration against the Anglo-Dutch supermajor’s deep-water drilling plans in the US Gulf of Mexico.

Gulf Coast resident Monique Verdin turned up at the meeting at The Hague headquarters to display 10-foot prints of her photographs depicting what she says is the environmental and community impact of US Gulf drilling.

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SHELL UNDERGROUND OIL PIPELINE SPILLS THOUSANDS OF GALLONS IN CALIFORNIA

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Screen Shot 2016-05-21 at 10.18.28Tuesday 24 May 2016

TRACY, CA — Hazardous materials crews are cleaning up as many as 21,000 gallons of oil after a pipeline rupture in Northern California.

The San Francisco Chronicle reports that Shell Pipeline Co. officials say a response team is clearing contaminated soil and helping local and state officials monitor local air, water and ground conditions.

Shell reported the leak after noticing that a line lost pressure Friday. The underground pipeline near Tracy was leaking crude oil into the soil but not near any waterways.

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Shell says oil sector needs to invest trillions even within climate limits

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By REUTERS: PUBLISHED: 12:47, 24 May 2016

THE HAGUE, May 24 (Reuters) – The oil and gas industry will need to invest up to $1 trillion per year even within the limits of the U.N.-backed goal of curbing global warming to 2 degrees, Royal Dutch Shell’s chief executive said on Tuesday.

“If collectively we find a way to stay within the 2 degree (Celsius limit), we will still need significant investment in oil and gas. I am not talking about a few millions, I am talking about up to a trillion dollars every year that industry has to invest just to stay within 2 degrees in oil and gas,” Ben van Beurden said at the company’s annual shareholder meeting in The Hague.

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Climate change puts trillions of dollars of financial assets at risk: study

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OSLO | BY ALISTER DOYLEMon Apr 4, 2016 4:40pm BST

Trillions of dollars of non-bank financial assets around the world are vulnerable to the effects of global warming, according to a study on Monday that says tougher action to curb greenhouse gas emissions makes sense for investors.

Rising temperatures and the dislocation caused by related droughts, floods and heatwaves will slow global economic growth and damage the performance of stocks and bonds, according to the report, led by the London School of Economics.

“It makes financial sense to a risk-neutral investor to cut emissions, and even more so to the risk-averse,” lead author Professor Simon Dietz, an environmental economist, told Reuters.

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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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