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

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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.

The energy crisis in Europe and the buried treasure of the Netherlands of 1000 billion

The energy crisis in Europe and the buried treasure of the Netherlands of 1000 billion

By Hans von der Brelie

Despite skyrocketing energy prices and a shortage of natural gas supplies in the European Union, the Dutch government has taken the decision to go ahead with shutting down the natural gas wells in the Groningen region. The field is one of the largest in the world, with a value of up to 1,000 billion euros. But for now, it is a treasure that will remain untapped for the foreseeable future. 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.

Regulator receives 136 damage claims after two earthquakes strike Groningen

DutchNews.nl

Regulator receives 136 damage claims after two earthquakes strike Groningen

SEPT 26, 2022

More than 100 claims for structural damage have been filed since two earthquakes, the largest measuring 2.7 on the Richter scale, hit Groningen province on Saturday.

The larger of the two quakes struck the village of Uithuizermeerden, on the north coast, at around midday, followed by a smaller one measured at 1.7 in Uithuizen.

The Institute for Mining Damage in Groningen (IMG) said it had received 136 reports of damage over the weekend, including three saying there was an acute risk to safety. Inspections at two of the three sites established that there was no immediate danger,  while a third is ongoing. 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.

Governments urged to act after oil giants accused of misleading public

The Guardian

Governments urged to act after oil giants accused of misleading public

Documents suggest Shell and BP staff privately downplayed public commitments on climate crisis

Alex Lawson Energy correspondent: Fri 16 Sep 2022 16.42 BST

Campaigners have urged governments to intervene after oil companies were accused of misleading the public about their commitment to reducing carbon emissions.

Oil and gas companies including Britain’s Shell and BP were urged to “stop their deception” this week as the US House committee on oversight and reform released documents showing that oil industry executives privately downplayed their public messages on efforts to tackle the climate crisis.

The memo claimed that internal BP documents highlighted how carbon capture and storage (CCS) – a nascent technology that involves inserting CO2 emissions into underground rock formations – could “enable the full use of fossil fuels across the energy transition and beyond”.

Congressional investigators also unearthed an internal Shell email discussing carbon capture, utilisation, and storage (CCUS) in which an executive said: “We want to be careful to not talk about CCUS as prolonging the life of oil, gas or fossil fuels writ large.” 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.

Criticism intensifies after big oil admits ‘gaslighting’ public over green aims

The Guardian

Criticism intensifies after big oil admits ‘gaslighting’ public over green aims

Fury as ‘explosive’ files reveal largest oil companies contradicted public statements and wished bedbugs upon critical activists

Oliver Milman: Sat 17 Sep 2022 11.00 BST

Criticism in the US of the oil industry’s obfuscation over the climate crisis is intensifying after internal documents showed companies attempted to distance themselves from agreed climate goals, admitted “gaslighting” the public over purported efforts to go green, and even wished critical activists be infested by bedbugs.

The communications were unveiled as part of a congressional hearing held in Washington DC, where an investigation into the role of fossil fuels in driving the climate crisis produced documents obtained from the oil giants ExxonMobil, Chevron, Shell and BP.

“First they ignore you, then they laugh at you, then they wish bedbugs on you, then you win,” said Varshini Prakash, executive director of Sunrise. The organization accused Shell of a “legacy of violence and of ignoring the wellbeing of communities across the globe”. 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 Companies Are Greenwashing, Congress Committee Says

Big Oil Companies Are Greenwashing, Congress Committee Says

A House congressional committee said internal documents from Exxon Mobil Corp., Chevron Corp., Shell Plc, and BP Plc reveal that their public promises to fight climate change amount to greenwashing.

A cache of emails, lobbying and preparation materials for senior executives obtained by the Committee on Oversight and Reform show that Big Oil climate pledges rely on “unproven technology, accounting gimmicks, and misleading language to hide the reality,” Subcommittee Chair Ro Khanna said in an emailed statement. read more

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Oil Executives Privately Contradicted Public Statements on Climate, Files Show

The New York Times

Oil Executives Privately Contradicted Public Statements on Climate, Files Show

The documents, subpoenaed in a House investigation of climate disinformation, show company leaders contravening industry commitments. 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 state earned €363.7 billion through Groningen gas extraction

Dutch state earned €363.7 billion through Groningen gas extraction

NL TIMES

TUESDAY, 6 SEPTEMBER 2022 – 08:44

After almost 60 years of gas extraction in Groningen, the involved parties finally announced how much money they made from it. Adjusted for inflation, the Groningen gas field yielded a total profit of 428 billion euros, of which the Dutch state received 363.7 billion euros, Het Financieele Dagblad reports based on calculations from shareholder Shell.

After almost 60 years of gas extraction in Groningen, the involved parties finally announced how much money they made from it. Adjusted for inflation, the Groningen gas field yielded a total profit of 428 billion euros, of which the Dutch state received 363.7 billion euros, Het Financieele Dagblad reports based on calculations from shareholder Shell.

The remaining 64.7 billion euros in profit went to the Nederlandse Aardolie Maatschappij (NAM), the operator of the Groningen gas field. NAM paid the amount out as dividends to its shareholders – Shell and ExxonMobil. 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.

Exxon And Shell Look To Sell $1.5 Billion Natural Gas Venture

OILPRICE.COM

Exxon And Shell Look To Sell $1.5 Billion Natural Gas Venture

Supermajors ExxonMobil and Shell are looking to sell their 50/50 NAM natural gas producing joint venture in the Netherlands in a potential sale worth up to $1.5 billion, Reuters reported on Tuesday, citing industry sources and a document it had seen.

Shell and Esso set up the NAM joint venture in the 1950s and started producing gas from the giant Groningen field in the Netherlands in the 1960s. According to NAM’s website, the company supplies 75% of the natural gas required by Dutch households and businesses. A total of 93% of all Dutch households use natural gas and gas accounts for 45% of all the energy that is used in the Netherlands.

Shell and Exxon’s decision to sell one of the oldest gas-producing ventures would be part of both companies’ plans to divest aging assets they no longer consider core to their respective operations, Reuters notes.

According to Reuters’ sources, NAM’s assets up for sale – including three gas processing plants, pipeline networks, and offshore gas fields – could be valued at between $1 billion and $1.5 billion.

The two international majors expect that the current dire need for gas supply in Europe and the high natural gas prices could make those assets attractive to prospective buyers, the sources told Reuters. 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.

Exxon, Shell sell California oil assets for $4 billion to IKAV

Reuters

Exxon, Shell sell California oil assets for $4 billion to IKAV

By

HOUSTON, Sept 1 (Reuters) – Exxon Mobil Corp (XOM.N) and Shell Plc (SHEL.L) on Thursday confirmed the sale of their California oil joint-venture Aera to German asset manager IKAV for $4 billion, ending a 25-year-long partnership that was one of the state’s largest oil producers.

The sale reflects the two companies move out of mature energy properties at a time when high oil and gas prices favor new deals. Reuters this week reported the oil giants were in advanced talks on a sale of the San Joaquin Valley property. read more

The transaction is expected to close in the fourth quarter of 2022, subject to regulatory approvals. Shell faces a $300 million to $400 million impairment charge as a result of the sale, it said.

IKAV buys assets with strong cash yields and holds them to maximize returns to its funds, according to its website. Last year, it built a solar plant in Italy and took a majority stake in Metaenergia, an Italian operator of gas-fired power plants. 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.

Fears of new quakes in Dutch gas field as energy crisis bites

The Guardian

Fears of new quakes in Dutch gas field as energy crisis bites

Arthur Neslen: Mon 22 Aug 2022 10.00 BST

The province of Groningen is home to a vast gas field and the subject of a parliamentary inquiry into the links between gas extraction and the hundreds of earthquakes and tremors that have traumatised residents.

Groningen’s inhabitants have been affected by the giant gas field for the last few decades. About 80% of houses in villages such as Overschild are being demolished and rebuilt because of earthquake damage. More than 150,000 Groningen residents have suffered earthquake damage to their properties in the last decade, and 10,000 now face stress-related health problems. 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 Part in Qatar’s LNG Expansion Project

yahoo!finance

Shell to Take Part in Qatar’s LNG Expansion Project

Shell plc SHEL recently joined the Qatari state-owned energy company – QatarEnergy’s $29-billion North Field East expansion project to expand output at the world’s biggest natural gas field, becoming the latest international partner in this ambitious megaproject.

This development, which is considered to be the single-largest project in the history of the liquefied natural gas industry, is quite significant, considering the soaring energy demand and the supply crisis following Moscow’s military action in Ukraine.

The London-headquartered oil supermajor will hold a 6.25% interest in the expansion project, with TotalEnergies and ExxonMobil also owning a 6.25% stake each.

Per Shell, the company’s investment in this project will support the delivery of the much-needed supplies of natural gas to markets worldwide and will also be integrated with carbon capture and sequestration to cut down emissions.

SHEL’s Chief Executive Officer, Ben van Beurden, said “This agreement deepens our strategic partnership with QatarEnergy, which includes multiple international partnerships,” and he further mentioned that Shell is committed to maximizing the value of the LNG expansion for the State of Qatar and becoming a trusted, dependable and long-term partner in Qatar’s continued progress.

The gulf state discovered one of the world’s largest gas reserves in the North Field in 1971. The development, however, is anticipated to augment Qatar’s output from the current 77 million tons a year to 110 million tons by 2027. 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.

Exxon, Shell May Pursue Part of $1.8 Billion Nigerian Award–US Appeals Court

REUTERS

Exxon, Shell May Pursue Part of $1.8 Billion Nigerian Award–US Appeals Court

By

By Jonathan Stempel

NEW YORK (Reuters) – A U.S. appeals court on Friday said Exxon Mobil Corp and Royal Dutch Shell Plc affiliates may try to enforce part of a $1.8 billion arbitration award against Nigeria’s state-run oil company, in a dispute concerning oil extraction near the African country’s coastline.

It said the judge should have determined which parts of the award had been deemed enforceable by a Nigerian appeals court. Lawyers for the companies did not immediately respond to requests for comment. read more

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Shell boosts oil and gas asset value as refining soars

Shell boosts oil and gas asset value as refining soars

REUTERS PUBLISHED THU, JUL 7 2022 3:26 AM EDT

Shell said on Thursday said it would reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its energy prices outlook following Russia’s invasion of Ukraine.

In an update before second quarter results on July 28, Shell said its refining margins almost tripled over the period, boosted by recovering global demand from the pandemic, a lack of refining capacity and lower fuel exports from Russia.

Earnings from oil and refined products trading were expected to be strong in the quarter but lower than the first quarter of 2022, Shell said.

Shell’s indicative refining margin rose in the second quarter to $28.04 per barrel from $10.23 a barrel in the first quarter and $4.17 a year earlier.

Oil and gas prices remained elevated in the quarter, with benchmark Brent crude averaging about $114 a barrel.

“In the second quarter 2022, Shell has revised its mid and long-term oil and gas commodity prices reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals,” it said.

Shell increased its assumed price for Brent to $80 a barrel in 2023, up from $60 in its 2021 annual report. 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, the Oil Giant, Will Sell Renewable Energy to Texans

The New York Times

Shell, the Oil Giant, Will Sell Renewable Energy to Texans

The European oil company has been expanding into green energy even as many U.S. energy giants have kept their focus on fossil fuels.

Clifford Krauss and : June 7, 2022 Updated 3:13 p.m. ET

HOUSTON — Shell said on Tuesday that it would begin selling electricity generated from renewable sources to residents and businesses in Texas, a move that brings the European oil company’s shift to green energy to the U.S. market.

The announcement underscores a widening gulf between the strategies of European and U.S. oil companies as elected leaders and consumers demand that the energy industry do more to tackle climate change. European businesses including Shell, BP and TotalEnergies are seeking to expand into renewable energy, electric vehicle charging and other fast-growing businesses as U.S. companies like Exxon Mobil and Chevron mostly keep their focus on oil and gas while investing in capturing carbon from industrial plants and biofuels.

Shell, which already has electricity businesses in nine countries, plans to double the amount of electricity it sells by 2030. The company, which is based in London, is Europe’s largest oil and gas business by revenue and has operations in more than 70 countries, including gas stations, refineries and oil and gas fields. 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.

‘Carbon bombs’ set to trigger catastrophic climate breakdown

The Guardian

Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown

Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns

by Damian Carrington and Matthew Taylor: Wed 11 May 2022

The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows. read more

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