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Shell’s Philanthropic CEO Faces Criticism for Comments on Oil Production

Posted by JOHN DONOVAN: July 7, 2023

In a stunning display of environmental enlightenment, Wael Sawan, the esteemed CEO of Shell, has been condemned by the United Nations’ climate change body for his audacious suggestion that cutting oil and gas production would be “dangerous and irresponsible.” Clearly, Sawan is a visionary who understands the dire consequences of not perpetuating the burning of fossil fuels indefinitely.

Simon Stiell, the Executive Secretary of the U.N. Framework Convention on Climate Change (UNFCCC), courageously called out Sawan’s remarks as both untrue and irresponsible. How dare anyone challenge the wisdom of the fossil fuel industry at a time when we are desperately trying to achieve… well, something, right? 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.

Groningen Gas Field: Shell and Exxon Mobil’s Monument to Greed and Disregard for Health Risks

Posted by John Donovan July 5, 2023

The Groningen gas field, a behemoth boasting a mind-boggling 2.8 billion cubic meters, serves as a glorious testament to the insatiable greed of Shell and Exxon Mobil, the illustrious partners responsible for its management. With their joint venture company NAM overseeing extraction operations for over six decades, these oil giants have accumulated immense profits while leaving behind a trail of devastation and despair.

The State Supervision of Mines (SodM) has called for the complete closure of the Groningen gas field as early as this fall, challenging the arbitrary deadline of October 1, 2024. It appears that the painfully slow progress in reinforcing infrastructure and compensating for earthquake damage has had a noticeable impact on the health of residents in the quake-stricken area. State Secretary Hans Vijlbrief, tasked with overseeing mining affairs, must urgently address these concerns and put an end to the uncertainty that plagues the region, as per the authority’s advice. 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 Reluctant Closure of Europe’s Largest Gas Field to “Solve” Decades of Inconvenience for Groningen Residents

The people of Groningen have faced unrelenting earthquakes for decades, but don’t get too excited—the earthquakes will continue for years to come.

Posted by John Donovan: 28 June 2023

In a remarkable act of goodwill and empathy, Shell, the renowned oil giant, has finally succumbed to the incessant pleas of the long-suffering people of Groningen and decided to halt gas extraction from the Groningen gas field. The Dutch government, displaying its unwavering commitment to the welfare of its citizens, announced that the extraction will come to an end on October 1 after a staggering 60 years of operation. Of course, the wells won’t be immediately shut down; they will remain open for another year, just in case the possibility of a freezing winter or the Ukrainian conflict demands a sudden resurgence in gas extraction. 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 Bold Move: Embracing Climate-Wrecking Fossil Fuels, Doubling Down on Profit

Posted by John Donovan 15 June 2023

Shell’s new leader takes a stand against the growing green movement, making it clear that the company’s commitment to the environment takes a backseat to their insatiable thirst for profits. Wael Sawan, who assumed the role of CEO earlier this year, has sent shockwaves through the eco-conscious community by announcing Shell’s abandonment of any plans to reduce oil production until 2030.

In a brazen move, Sawan not only halted the decline of oil production but also unveiled a plan to increase natural gas volumes, further exacerbating the climate crisis. This audacious decision has understandably triggered outrage among climate activists, who accuse Shell of shamelessly prioritizing their own financial gains over the well-being of the planet.

During an investor day in New York, Shell boasted of plans to boost shareholder distributions to an astonishing 30-40% of cash flow from operations, showing no regard for the urgent need to invest in green initiatives. Furthermore, they announced a staggering £3.9 billion share buyback scheme, while slashing spending to give the illusion of a more responsible company. It’s a classic case of greenwashing in action. 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 ‘tense’ AGM where profits clash with the pesky climate

Posted by John Donovan 18 MAY 2023

Shell’s ‘tense’ AGM where obscene profits clash with the pesky climate

Prepare for the showdown of the century! Shell, the notorious oil giant known for its greed and pollution, is about to face a shareholder meeting that promises to be nothing short of acrimonious. It seems that Shell is struggling to strike a delicate balance between making obscene profits from oil and gas and dealing with a pesky minority who believe they should actually do something about climate change. How dare they? 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.

More climate change litigation against Big Oil including Shell

Friday, April 7, 2023 Contact: (916) 210-6000, [email protected]

OAKLAND — California Attorney General Bonta, as part of a coalition of 18 attorneys general, filed an amicus brief in support of the District of Columbia’s (D.C.) efforts to hold major fossil fuel-producing companies accountable for their misleading actions, that have worsened the climate crisis. In District of Columbia v. Exxon Mobil, D.C. alleges ExxonMobil, Shell, BP, and Chevron engaged in unfair and deceptive trade practices in violation of D.C.’s Consumer Protection Procedures Act, and misled the public about their harmful contributions to the climate crisis. 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: Gas field in Groningen must be completely closed this year, in light of earthquakes

NL TIMES

Shell: Gas field in Groningen must be completely closed this year, in light of earthquakes

SUNDAY, 26 MARCH 2023 

The gas field in Groningen must be completely closed this year, said the CEO of Shell Netherlands, Marjan van Loon. Currently, the gas field is still supplying minimal amounts of gas to keep the wells usable, but she doesn’t think that’s necessary. “It can and must be done, so the field has to be closed,” Van Loon said on the TV program WNL Op Zondag. 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 Considered Relocating To The U.S. In Pursuit Of Higher Value

OILPRICE.COM

Shell Considered Relocating To The U.S. In Pursuit Of Higher Value

  • Two years ago, Shell’s executive leadership discussed relocating to the U.S. in order to boost the company’s valuation.

  • There is a stark difference in valuation between European and U.S. oil majors, a difference that analysts believes is related to ESG factors and energy transition plans.

  • BP recently backtracked on some of its energy transition promises, resulting in its stock price climbing 10%.

Shell’s executive leadership discussed leaving Europe and relocating to the United States, the Financial Times has reported, citing unnamed sources familiar with the discussion.

According to the FT’s sources, the supermajor’s new chief executive, Wael Sawan, was part of a team of top executives that two years ago considered moving Shell’s headquarters to the U.S. and listing the company there, too.

The relocation idea was ultimately dropped but the FT notes that Shell’s chief executive remains worried about the difference in valuation between Shell and its U.S. peers. 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.

BP and Shell could be takeover targets if Exxon and Chevron snatch opportunity for ‘industry arbitrage’ – Citi

BP and Shell could be takeover targets if Exxon and Chevron snatch opportunity for ‘industry arbitrage’ – Citi

proactiveinvestors.co.uk

Jamie Ashcroft: Wed 25 Jan 2023

BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) may find themselves at the negotiating table as American peers Exxon Mobil Corporation (NYSE:XOM) or Chevron Corporation (NYSE:CVX) could come calling, that’s the view of analysts at Citigroup.

A megamerger between either London-listed oil major and either of America’s largest oilers appears increasingly attractive, on valuation terms at least, according to the Wall Street bank. 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.

Netherlands To Shut Down Europe’s Largest Gas Field

OILPRICE.COM

Netherlands To Shut Down Europe’s Largest Gas Field

The Dutch government plans to close the Groningen gas field this year despite Europe’s precarious supply position. Groningen is the largest gas field in Europe.

The field is dangerous, a government official from the Hague told the Financial Times, and the government has no plans to boost production from it.

“We won’t open up more because of the safety issues,” Hans Vijbrief told the FT. “It is politically totally unviable. But apart from that, I’m not going to do it because it means that you increase the chances of earthquakes, which I don’t want to be responsible for.” 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 to take $2 billion fourth-quarter tax hit after new EU, UK levies

cnbc

Shell to take $2 billion fourth-quarter tax hit after new EU, UK levies

KEY POINTS

  • Shell expects a fourth-quarter tax hit of $2 billion, following additional levies in the U.K. and European Union.

  • The company expects “significantly higher” results from its liquefied natural gas trading performance in the fourth quarter, compared with July-September.

  • Shell will release its final fourth-quarter results on Feb. 2.

Oil and gas major Shell said Friday it expects to take a $2 billion hit for the fourth quarter as a result of new taxes in the European Union and U.K.

“The Q4′22 earnings impact of recently announced additional taxes in the EU (the solidarity contribution) and the deferred tax impact from the increased UK Energy Profits Levy is expected to be around $2 billion,” the company said in a trading update.

The EU agreed in September that oil and gas companies will pay a levy on surplus profits made in 2022 or 2023. The “solidarity contribution” will see firms pay 33% of profits above their average taxable profits. 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 could start profit slowdown as Labour pushes to expand windfall tax

CITYA.M.

Shell could start profit slowdown as Labour pushes to expand windfall tax

: MONDAY 24 OCTOBER 2022 4:13 PM

The historic profit run from oil and gas titans is expected to slow down this week, when Shell unveils its latest results.

Producers are grappling with both inflation and suppressed demand amid growing expectations of a global recession.

Shell has warned ahead of its third quarter update this week that earnings will likely be dented by a sharp hike in refining costs and weaker natural gas trading.

In an update earlier this month, it revealed indicative refining margins dropped to $15 a barrel compared with $28 a barrel in the previous three months of trading.

The energy giant will update investors on its performance this Thursday, the first in a wave of results from oil and gas giants over the coming days.

Rivals BP, Chevron, Exxon Mobil, Equinor and Saudi Aramco will also announce their results over the coming days – offering markets a flurry of data on the latest conditions in the fossil fuel sector. 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.

Dutch prosecutors to pursue pollution case against Shell-Exxon gas venture

Dutch prosecutors to pursue pollution case against Shell-Exxon gas venture

By Syndicated Content Oct 12, 2022 | 7:53 AM

AMSTERDAM (Reuters) -Dutch prosecutors said on Wednesday they will pursue a pollution case against NAM, a joint venture of Shell and ExxonMobil that operates gas fields in the Netherlands.

The prosecutors “(suspect) NAM of injecting waste streams from natural gas extraction into the deep subsurface without a permit”, a statement from their office said.

Prosecutors say they believe the company took waste products from natural gas extraction in the North Sea, then processed and injected them into empty gas fields in the province of Groningen.

A spokesperson for NAM said the company would respond later on Wednesday.

Reuters reported last month that Shell And ExxonMobil have put their 50-50 venture up for sale, with expected proceeds of over $1 billion.

NAM started producing natural gas in 1963 following the discovery of the giant Groningen field, which was a major source of gas for the Netherlands and Europe for decades.

But extraction has been almost completely wound down in the past 10 years as tremors blamed on drilling damaged buildings and prompted protests by residents and campaigners. 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 should have quit Groningen gas project in Netherlands earlier -CEO

REUTERS

Shell should have quit Groningen gas project in Netherlands earlier -CEO

AMSTERDAM, Oct 13 (Reuters) – Shell CEO Ben van Beurden told a Dutch parliamentary panel investigating problems relating to natural gas production at the large Groningen gas field in the Netherlands that the company should have pulled out of the project earlier.

Production at Groningen was scaled back sharply over a period of years in the 2010s after the Dutch government and producer NAM, a Shell-Exxon joint venture, realized the earthquakes it caused posed too great a threat to life and property.

“We had to continually ask what makes sense,” as production was dialled back to levels at which NAM made little to no profit, Van Beurden told lawmakers.

“What made sense for Shell was to quit. In any other country we would have stopped this operation. But in the Netherlands that was impossible because the Netherlands was dependent on Groningen gas.”

A damning report in 2015 from the independent Dutch Safety Board had accused the government and the field’s operators of ignoring the threat of earthquakes linked to the field for years. As vast amounts of gas were removed from under the province since 1963, the ground sank and settled above empty pockets, triggering quakes. 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, Exxon launch joint sale of UK, Dutch North Sea assets -sources

Reuters

Shell, Exxon launch joint sale of UK, Dutch North Sea assets -sources

Ron Bousso: Tue, September 27, 2022 at 4:16 PM

LONDON, Sept 27 (Reuters) – Shell and Exxon Mobil have launched a joint sale process of a large package of offshore natural gas assets in the southern UK and Dutch North Sea, three industry and banking sources said.

The two companies have hired investment bank Jefferies to run the sale, which could raise over $2 billion, the sources said.

Launched earlier this month, the sale comes after Shell and Exxon independently ran initial sales processes for their British and Dutch assets.

Shell declined to comment. Jefferies declined to comment. Exxon did not immediately reply to a request for comment.

In July, Shell and Exxon launched the sale of the 50-50 NAM joint venture in the Netherlands, operator of the Groningen gas field and one of Europe’s largest and oldest natural gas production companies.

The two companies have also separately put up for sale their stakes in their British southern North Sea gas hub, which include the Clipper Leman Alpha hubs as well as the Bacton terminal in eastern England, the sources said. 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.

Dutch limit Groningen gas production despite energy crisis

Dutch limit Groningen gas production despite energy crisis

By Reuters  •  Updated: 26/09/2022 – 16:25

AMSTERDAM -Gas production at the Groningen field in the Netherlands will be lowered to the minimal amount needed to keep wells operational in the coming year, as extraction is expected to end by 2024 at the latest, the Dutch government said on Monday.

Production at Groningen, once one of Europe’s major suppliers of natural gas, will be capped at 2.8 billion cubic metres (bcm) in the year starting Oct. 1, the government said, down from 4.5 bcm in the current year.

The Groningen field, operated by a joint venture of Shell and Exxon Mobil, still holds massive reserves of natural gas. 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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