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Shell CEO says ‘foolhardy’ to set carbon reduction targets

Shell CEO says ‘foolhardy’ to set carbon reduction targets

Ron Bousso: JULY 5, 2018

LONDON (Reuters) – Royal Dutch Shell’s boss said it would be “foolhardy” for the oil and gas producer to set hard targets to reduce carbon emissions as it risked exposing the energy giant to legal challenges.

The energy industry has struggled in recent years to find a clear path to secure its role as the world shifts from fossil fuels in order to meet the 2015 Paris climate agreement goals.

Shell Chief Executive Officer Ben van Beurden last year set out ambitions last year to halve its carbon emissions by 2050, far exceeding rivals. But the Dutch CEO resisted calls by activists and some investors to set binding targets. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell CEO Van Beurden says UK should move 2040 car ban forward

Shell CEO Van Beurden says UK should move 2040 car ban forward

Chief executive of Shell, Ben Van Beurden, has reportedly said today that he believes the 2040 UK ban on petroleum and diesel car sales should be brought forward.

Written by  – 

In response to a question from an audience member at the Powering Progress Together event in London, Mr Van Beurden reportedly said that while “everyone was going to have to move quickly, the UK ought to move more quickly than most” and that it was “sensible” that the government move the 2040 target forward.

Mr Van Beurden was speaking at the event on the eve of the company’s Shell Eco Marathon to outline his firm’s commitment to a “cleaner future, transport and beyond”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

The Netherlands Can’t Afford To Keep Its Natural Gas Promise

By Vanand Meliksetian – Jul 03, 2018, 3:00 PM CDT

The Netherlands has been the source of cheap energy for northwest Europe for the past decades. The discovery of the Groningen gas field, the 9th largest in the world, provided a reliable source of energy in a period when the oil market was rocked by embargos due to the Yom Kippur War in 1973. The future of the Dutch gas sector, however, looks bleak due to two important developments in 2018: a political decision to reduce production with a timeline to stop entirely until 2030 and a new climate agreement. The Netherlands is preparing to make major changes regarding the role of gas in people’s lives. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Question-mark over NAM Groningen Earthquake Damage Guarantees

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Nijboer wants reaction from cabinet to NAM guarantees

Carel Grol • Entrepreneurship

Member of Parliament Henk Nijboer (PvdA) wants a response from the government to the message in the FD that Shell and ExxonMobil offer limited security with the NAM agreement. Lawyer and professor Steef Bartman of Leiden University wrote in an opinion piece in this newspaper on Monday, in which he wondered whether NAM can fulfill its obligation to damage and strengthen at any time.

A week ago Minister Eric Wiebes of Economic Affairs concluded a deal with Shell and ExxonMobil. The oil companies said they stood surety for ‘Groningen’. However, a number of provisions leave room for Shell and ExxonMobil to renegotiate in the future the guarantees issued and the financial distribution of gas revenues. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

‘Pipeliners All!’ Shell’s memo to Sakhalin Workers

By John Donovan 

Exeter University has apologised for the publication of a motivational email quoting from an iconic German general, Erwin Rommel. The person responsible for its inclusion apparently did not know who Rommel was.

This reminds me of the time that David Greer, the then Deputy Chief Executive of Sakhalin Energy circulated a motivational email to his hard-pressed work force telling them in stirring military terms to work even harder.

Mr Greer made the mistake of plagiarising a D-Day landing speech to his troops made by another legendary World War 2 General, George Patton.  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Groningen needs reinforcement: watchdog

Groningen needs reinforcement: watchdog

The repair and reinforcement of Dutch homes damaged by gas-extraction earthquakes in Groningen needed to be speededup, the state supervisor on mines SoDM told economic minister Eric Wiebes.

Monday 2nd July 2018

RTL Nieuws reported that SoDM found approximately 1,900 homes in the region that, if not reinforced quickly, would no longer meet official safety standards. The distinctly Dutch rules state the risk of someone dying in an earthquake must not be higher than the risk of someone drowning in a flood elsewhere in the Netherlands. Another 3,100 homes needed urgent attention and 2,100 others needed temporary reinforcement, at least until 2021, the watchdog reported. Declining output at the natural gas field meant only temporary reinforcement was essential, it added. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Big Oil, Utilities are Lining Up for an Electric Vehicle War

Big Oil, Utilities are Lining Up for an Electric Vehicle War

By Kelly Gilblom and Anna Hirtenstein2 July 2018, 05:00 BST

  • BP and Shell have bought electric-car charging companies
  • Power utilities are boosting sales to homes, chargers on roads

A red-hot electric vehicle market has triggered a face-off between Big Oil and utilities. Oil majors, who’ve sold fossil fuels to cars for a century, are now moving into an electricity sector that’s preparing for exponential growth. The problem is that utilities, the primary power suppliers for a century, have the same idea. BP Plc predicts electric vehicle sales will surge by an eye-watering 8,800 percent between 2017 and 2040, making it an attractive business for oil companies as demand for gasoline and diesel are forecast to slow. Big Oil will have to battle the traditional utilities for charging at people’s homes, on the road and even offices of green-car owners. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Debt levels hit record £391bn as companies ramp up payouts

1 JULY 2018 • 9:14PM

Companies racked up a record £391bn of debt in the face of demand from investors to step up dividends and as bosses went hunting for deals.

The overall level of debt for UK plc in the 2017-18 financial year far surpassed pre-crisis levels of £286bn, according to the Debt Monitor report published by Link Asset Services UK today.

Among the heavy borrowers, oil giants BP and Royal Dutch Shell accounted for £1 in every £7 of all UK companies’ net debts last year. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Royal Dutch Shell: Streamlining Assets

Jun. 30, 2018 12:54 AM ET

Summary

  • Renewal of assets with great focus on the future.
  • Natural gas as energy source will continue to grow.
  • Share buybacks and generous dividends.

Background

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has been actively focusing on what kind of business it wants to be involved in. Part of this activity is to change the composition of its assets. It has been selling plants and oil licenses, and invested where it wants to position the company.

Disposals have also been done to reduce the total debt level. Much of the debt came from the $35 billion acquisition of BG Group back in March of 2016.

Disposals

Early this year, Shell communicated that its plans were to leave oil and gas operations in as many as 10 countries and instead focus more heavily on gas-rich Australia and shale opportunities in the United States. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

U.S. sanctions will not affect Nord Stream 2, German ministry says

|By: , SA News Editor

  • Germany has been assured by the U.S. that any sanctions imposed on Russia will not affect construction of the Nord Stream 2 gas pipeline to bring Russian gas to Europe, says a spokesperson for Germany’s economy ministry.
  • The U.S. embassy in Berlin says there has been no change in policy, Reuters reports.
  • The Nord Stream 2 consortium, consisting of Russia’s Gazprom (OTCPK:OGZPY) and five European companies – Royal Dutch Shell (RDS.ARDS.B), BASF’s (OTCQX:BASFY) Wintershall, Engie (OTCPK:ENGIY), OMV (OTCPK:OMVJF) and Uniper (OTC:UNPPY) – last month started preparatory work in the Greifswald bay off Germany’s Baltic coast on a new twin pipeline that will double Russia’s export capacity of 55B cm to Germany.
  • Separately, Gazprom CEO Alexei Miller says the company can set a new gas export record of nearly 200B cm this year, up nearly 3% Y/Y, breaking last year’s record volume of 194.4B cm of gas to Europe and Turkey.
  • read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    “I will fight to my last breath” – Esther Kiobel on her 22-year battle to get Shell in court

    Esther Kiobel poses with a picture of her beloved late husband, Dr. Barinem Kiobel, one of “Ogoni 9” executed by Nigeria’s military government after a peaceful uprising against Shell in 1995. Photograph: Amnesty International

    29 June 2018

    Esther says Amnesty activists have given her the strength to carry on fighting for justice

    A year ago today, Esther Kiobel stood on the steps of the Palace of Justice in The Hague. It had taken over twenty years to get there, but she had just filed a landmark case against the oil giant Shell over what she says is its role in the 1995 execution of her husband Dr. Barinem Kiobel. Dr Kiobel, a former government official, was hanged by the Nigerian military government in connection with widespread protests against oil pollution in the Niger Delta. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell’s festival of unbelievable bullshit

    By Darren Cullen, artist and writer

    When a corporation’s business model revolves around destroying the possibility of human life on earth, sometimes people think that’s not a good thing and they ask if they could maybe not do that. But there’s something about the billions of dollars a corporation can make from engineering the apocalypse that makes it want to not stop, and makes it want to do it more. So instead of not killing everyone, corporations like Shell turn to advertising to make killing everyone seem actually kind of cool. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell-Partners consortium ready to build Dutch offshore wind farm

    Shell-Partners consortium ready to build Dutch offshore wind farm

    Reuters Staff: JUNE 28, 2018

    AMSTERDAM (Reuters) – A consortium led by Swiss investor Partners Group and Royal Dutch Shell said it has secured financing for the building of a 1.3 billion euros ($1.5 billion) wind farm in the Dutch part of the North Sea.

    Shell and consortium partners Eneco, Van Oord and Mitsubishi/DGE were awarded the “Borssele 3 and 4” project in December 2016, at what at the time was the Netherlands’ lowest-ever strike price of 54.50 euro cents per megawatt-hour.

    Building of the wind farm, which will have the capacity to power around 825,000 households, will start in the fourth quarter of 2019, with production expected to begin in 2021. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Opposition Lawmaker Demands Probe into Netherlands-Shell Tax Deal

    By Linda A. Thompson: June 27, 2018

    A Dutch opposition lawmaker is pushing the government to launch a parliamentary inquiry into Shell, calls that follow criticism of the oil giant’s past deals with the tax authority.

    Jesse Klaver, the leader of the Dutch Greens, is specifically focused on a 2004 tax ruling the tax authority issued to Royal Dutch Shell Plc. A parliamentary inquiry would be lawmakers’ only shot to question Shell executives about the deal, and would be the latest development in scrutiny of the company’s tax planning. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Gas production at Groningen field falling faster than planned

    |By: , SA News Editor

  • Production at the Groningen natural gas field will come in lower than expected this year as the Dutch government works to end production completely by 2030 in an effort to limit seismic risks in the region.
  • Output will have fallen to 19B-20B cm in the year ending October 2018, the Dutch gas sector regulator says, below the original cap of 21.6B cm set for the year and down from 24B cm last year.
  • The Groningen field is a joint venture of Royal Dutch Shell (RDS.ARDS.B) and Exxon Mobil (NYSE:XOM)
  • read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    U.S. court dismisses climate change lawsuits against oil companies

    U.S. court dismisses climate change lawsuits against oil companies

    Reuters Staff: JUNE 26, 2018

    (Reuters) – A federal court in California dismissed climate change lawsuits by the cities of San Francisco and Oakland against five oil companies, saying the complaints required foreign and domestic policy decisions that were outside its purview. San Francisco and Oakland sued Chevron Corp, Exxon Mobil Corp, ConocoPhillips, Royal Dutch Shell Plc, and BP Plc last year seeking an abatement fund to help the cities address flooding they said was a result of climate change. Judge William Alsup of the U.S. District Court for the Northern District of California said in the ruling that the dangers raised by the complainants were real and worldwide, and both parties accepted the science behind global warming. FULL ARTICLE read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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