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Seeking Alpha: Shell pledges to stay in Canada, top exec says

Shell pledges to stay in Canada, top exec says

|About: Royal Dutch Shell plc (RDS.A)| By , SA News Editor

Royal Dutch Shell (RDS.A -0.4%) is staying in Canada even as others pull up stakes, Shell Canada head Michael Crothers tells Bloomberg.

Shell’s future in the country is largely as a natural gas producer and exporter focused on the US$30B LNG Canada project, though the company also is committed to its local chemicals and retail businesses, Crothers says.

Aside from LNG Canada – which is 40%-owned by Shell – and the Groundbirch gas production complex in British Columbia that will partly supply it, the company has some light oil production, the Scotford refinery, two chemicals plants and a carbon capture facility in Alberta, plus the Sarnia refinery and a lubricants plant in Ontario.

Shell also still owns a 10% stake in the Athabasca oil sands after selling most of its holdings in 2017; Crothers says the company has no plans to sell the rest because it is a core asset which provides feedstock for the Scotford complex.

The company has about 3,600 workers in the country and is hiring for LNG Canada, Crothers says.

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1 Comment on “Seeking Alpha: Shell pledges to stay in Canada, top exec says”

  1. #1 Christopher Ives
    on Nov 15th, 2019 at 22:19

    G’day, John.
    Shell’s “social license” is wearing a bit thin these days, eh?

    Shell’s reply to court summons in historic climate case shows its stubborn refusal to stop destroying the climate.

    AMSTERDAM, 12 November 2019 – Today Friends of the Earth Netherlands received Shell’s long awaited response to the legal summons demanding it acts on climate change. While lawyers still need to study the 272 page legal document in detail, the response shows that Shell does not intend to meet the plaintiffs’ demands.

    Friends of the Earth Netherlands’ Director Donald Pols says, “Shell once again takes no responsibility for the disproportionate role it plays in aggravating the climate crisis. Shell is undermining the world’s chances to stay below 1.5°C.”

    Other sources indicate that Shell wants to increase oil and gas production by 38% between now and 2030 and will invest up to US$35 billion a year, of which only US$2billion – 3 billion will go towards potentially sustainable energy solutions.

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