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Oil Titans on Trial: Big Energy Companies Grapple with Climate Deception Lawsuit in California Showdown

Grab your popcorn, folks. This legal drama is about to reveal whether these energy companies are just misunderstood giants or masterminds of eco-deception. Stay tuned!

Posted by John Donovan:

27 November 2023   

Well, well, well, if it isn’t our favorite energy giants back in the spotlight, but this time they’re not drilling oil – they’re drilling themselves into a bit of a legal quagmire. BP PLC, Chevron Corp., ConocoPhillips, Exxon Mobil Corp., and Royal Dutch Shell PLC are about to play a high-stakes game of courtroom chess in sunny California. And guess what? It’s not about who struck oil, but who played a little too fast and loose with the truth about climate change. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil giant Shell is leading the way on this $4 trillion climate change solution some say won’t work

yahoo!

Oil giant Shell is leading the way on this $4 trillion climate change solution some say won’t work

Fossil fuel companies are leading the way when it comes to a climate change solution that, despite its backing from multiple governments, has faced criticism as an ineffective way to reach net zero.

Carbon capture and storage (CCS) allows industries that burn fossil fuels to trap carbon emissions and transport them via pipelines, trucks, or ships for geological storage. The carbon dioxide is injected underground into rock formations, usually at depths of one kilometer or more. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Big Oil braces for shareholder revolt over climate plans in proxy voting season

CNBC

Big Oil braces for shareholder revolt over climate plans in proxy voting season

Sam Meredith@SMEREDITH19

  • Oil and gas majors on both sides of the Atlantic are scheduled to hold their annual general meetings in the coming weeks.
  • The forthcoming proxy season comes amid intensifying pressure on Big Oil to set short- and medium-term targets in line with the landmark Paris Agreement.
  • At present, not a single oil and gas major is aligned with the Paris Agreement’s goal of curbing global heating to 1.5 degrees Celsius above pre-industrial levels.

LONDON — Some of the world’s largest corporate emitters face the prospect of a shareholder rebellion this month, with climate-related votes poised to spike throughout the proxy season.

Oil and gas majors on both sides of the Atlantic are scheduled to hold their annual general meetings in the coming weeks. Existing climate strategies are up for votes alongside a range of investor-led resolutions targeting emissions reductions. read more

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An Activist Hedge Fund Wants to Break Up Shell Oil

The Motley Fool

An Activist Hedge Fund Wants to Break Up Shell Oil

The oil industry has a spill, and the leaky commodity is drama. Less than six months after an activist hedge fund planted itself on Exxon’s board…

The Daily Upside: Oct 27, 2021 at 8:00PM

The oil industry has a spill, and the leaky commodity is drama.

Less than six months after an activist hedge fund planted itself on Exxon’s board with plans to overhaul the company’s climate agenda, New York-based Third Point revealed on Wednesday its plans to slice up Royal Dutch Shell by carving off its renewables businesses. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell’s U.S. exit gives investors a sugar rush

Reuters

Shell’s U.S. exit gives investors a sugar rush

LONDON, Sept 21 (Reuters Breakingviews) – Royal Dutch Shell (RDSa.L), has left the building. The $153 billion Anglo-Dutch oil giant on Monday offloaded 225,000 acres of shale assets in the Permian basin to U.S. rival ConocoPhillips (COP.N) for $9.5 billion in cash.

With oil at $70 per barrel, the price looks on the low side: consultancy Wood Mackenzie estimates the assets are worth more than $13 billion. But at $42,000 an acre it’s roughly in line with recent local deals, according to Berenberg analysts. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Royal Dutch Shell is selling its Permian Basin oil holdings to ConocoPhillips for $9.5 billion

The New York Times

Royal Dutch Shell is selling its Permian Basin oil holdings to ConocoPhillips for $9.5 billion.

HOUSTON — Royal Dutch Shell sold its oil and gas production in the Permian Basin, the biggest American oil field, to ConocoPhillips for $9.5 billion in cash on Monday.

The deal marks a turning point for Shell, which had put considerable effort into developing the 225,000-acre field since buying it from Chesapeake Energy nine years ago, expanding its production to about 200,000 barrels a day. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell announces $9.5 billion sale of West Texas oil field assets to ConocoPhillips

CNBC

Shell announces $9.5 billion sale of West Texas oil field assets to ConocoPhillips

Hannah Miao: MON, SEP 20 2021

  • Oil giant Royal Dutch Shell announced a deal to sell the entirety of its Permian Basin assets to ConocoPhillips for $9.5 billion in cash.
  • The sale is set to close in the fourth quarter this year, the companies said.
  • read more

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    Exxon helped cause the climate crisis. It’s time they owned up

    The Guardian:

    Exxon helped cause the climate crisis. It’s time they owned up

    Mark Hertsgaard: Thursday 16 Sept 2021

    EXTRACTS

    Royal Dutch Shell even anticipated the current wave of lawsuits: an internal study in 1998 forecast a scenario in which environmental groups would band together to file “a class action lawsuit on the grounds of neglecting what scientists, including [the industry’s] own, have been saying for years”.

    Indeed, last May the Netherlands branch of the advocacy group Friends of the Earth won a landmark case against Shell. A Dutch court ordered Shell to bring its global operations in line with the Paris agreement goal of limiting temperature rise to 1.5C above pre-industrial levels. This will require Shell to reduce both its own and its customers’ emissions by a staggering 45% from 2019 levels by 2030. Shell is appealing the ruling. read more

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    5 Things You Need To Know About The World’s Hottest Oil Play

    OILPRICE.COM

    5 Things You Need To Know About The World’s Hottest Oil Play

    By James Stafford – Aug 16, 2021, 7:00 PM CDT

    With evidence of an active petroleum system now confirmed after two test wells in Namibia’s 6.3-million-acre Kavango Basin, the game is afoot with 2D seismic and a 6-well exploration drilling campaign that hopes to put this final frontier nation definitively on the commercial oil map.

    Extracts relating to Royal Dutch Shell

    Other companies looking to capitalize on the rise in oil prices: read more

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    Analysis: Benchmark of Big Oil on methane emissions shows ‘significant gap’ between reality and reporting

    REUTERS

    Analysis: Benchmark of Big Oil on methane emissions shows ‘significant gap’ between reality and reporting

    By 

    Geofinancial Analytics’s MethaneScan® benchmark scores the oil and gas producers based on observed methane emissions in the year to this July.

    This first snapshot, of the top 15 producers, finds that oil super-majors Royal Dutch Shell and Chevron are the worst performers, followed by ConocoPhillips, Marathon Oil and ExxonMobil. read more

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    Oil Companies Rejected by Supreme Court on Moving Climate Fight

    Bloomberg Green

    Oil Companies Rejected by Supreme Court on Moving Climate Fight

    By Greg Stohr: 14 June 2021, 14:32 BST

    The U.S. Supreme Court rejected an appeal by oil companies including BP Plc and Exxon Mobil Corp., leaving intact an important procedural ruling favoring two California cities suing for billions of dollars to address the impact of climate change.

    The justices, without comment, refused to consider the industry’s bid to shift the lawsuit into federal court, where companies tend to fare better than they do before state tribunals. read more

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    Investors should beware the rising tyranny of social media campaign groups

    Investors should  beware the rising tyranny of social media campaign groups

    Article by Oliver Shah. The Sunday Times May 16, 2021. Page 9 Business Section

    EXTRACT

    On Tuesday, Shell investors will vote on a resolution from Dutch activist Follow This calling for the oil major to set “inspirational” targets for cutting carbon emissions in line with the Paris Agreement. Shell, run by Ben van Beurden, cut its dividend last year and has seen its shares slump by more than a third since January 2020. Follow This chalked up a big victory against Shell’s US rival ConocoPhillips last Tuesday, with 58% of investors backing its resolution that the company should take responsibility for so-called scope 3 emissions – the pollution created by users of its fuels. read more

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    Shell Urges Shareholders to Reject Activist Climate Plan

    Shell Urges Shareholders to Reject Activist Climate Plan

    by Bloomberg | Laura Hurst | Thursday, April 15, 2021

    (Bloomberg) — Royal Dutch Shell Plc’s board has urged shareholders to reject a climate resolution filed by Dutch activist investor Follow This in favor of its own energy transition plan, which the company will put to a vote next month.

    The Anglo-Dutch major said that the Follow This resolution, which asks Shell to set and publish targets consistent with the goals of the Paris climate agreement, is “redundant” given its own “more comprehensive strategy,” according to a company notice. read more

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    How the Oil Lobby Learned to Love Carbon Taxes

    How the Oil Lobby Learned to Love Carbon Taxes

    The American Petroleum Institute may come out in favor of a carbon price, a sign of Washington’s dramatic move toward climate-friendly policy.

    By Jennifer A Dlouhy and Leslie Kaufman: 4 March 2021, 07:00 GMT

    Few saw the surprise disclosure earlier this week that the American Petroleum Institute is considering endorsing a price on carbon dioxide emissions and thought the fierce fossil fuel lobby was suddenly becoming climate-friendly. Rather, seasoned industry-watchers say it’s the clearest sign yet that fossil fuel companies see Washington’s shift on climate policy as a real and significant threat. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Editorial: Big oil confronts climate change – not a minute too soon

    Editorial: Big oil confronts climate change – not a minute too soon

    On Thursday, one of the world’s largest oil companies — Royal Dutch Shell — confirmed it will never again produce as much oil as it did in 2019. Peak oil production at Shell, said CEO Ben van Beurden, has come and gone.

    The week before, ExxonMobil had made a similarly telling announcement: It is spending billions on a subsidiary formed to advance technologies to reduce the company’s carbon emissions and develop new products to help its customers do the same. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Big Oil’s future could be smaller than its past

    Big Oil’s future could be smaller than its past

    Paul Takahashi. 6, 2021

    Oil companies have crisscrossed the world for more than a century, drilling on nearly every continent and in ever deeper oceans to prospect for fossil fuels that power the global economy.

    While they did, the biggest six or seven companies collectively known as Big Oil reshaped international politics and economies, bending them to their will. Oil executives became statesmen in their own right, negotiating deals with foreign leaders to extract oil from the tar sands of Canada, the deserts of the Middle East, off the coasts of South America and Africa and in the shale formations of the U.S. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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