Shell invests in the Gato do Mato project in Brazil’s pre-salt

Shell’s Jungle Cat Pounces: 370 Million Barrels of Oil, and a Big Middle Finger to the Climate.  Because if you’re Shell, “Net Zero” means “Not Now, Thanks.”

Shell — the undisputed heavyweight champion of climate double-speak — has decided it’s time to fire up the oil pumps again. This time, they’re heading to the deep waters off Brazil’s coast to claw 370 million barrels of oil out of a field charmingly called “Gato do Mato,” or “jungle cat.” How cute.

Yes, the same Shell that floods its website with talk of “Net Carbon Intensity” and “clean energy” is now purring with delight over its latest fossil frenzy in the pre-salt region of the Santos Basin, an offshore zone so deep it practically requires a submarine and a prayer to reach.

Let’s be clear: Shell is not doing this alone. This jungle-cat rodeo is brought to you by a consortium including:

•Shell Brasil (operator, 50%)

•Ecopetrol (30%)

• TotalEnergies (20%)

•Pré-Sal Petróleo S.A. (PPSA), managing the production-sharing contract

And just in case anyone missed it, Shell’s press release brags that the field is expected to spew out up to 120,000 barrels of oil per day. Because nothing says “energy transition” like opening a new offshore mega-project that won’t even start operations until 2029.

“Efficient,” You Say?

Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, gave us this jaw-dropping gem:

“Gato do Mato is an example of our ongoing investment in increasingly efficient projects… and expands our leadership as the largest foreign producer in Brazil as we continue working to provide for the world’s energy needs well into the future.”

Ah, yes — “efficient.” Efficient at what, exactly? Extracting profit while the planet burns? Efficient at convincing ESG investors like BlackRock and Vanguard that this kind of thing somehow fits into their sustainability mandates?

Because here’s the thing: Shell isn’t just doubling down on oil. It’s triple-distilling it, bottling it, and selling it with a green label. All while whispering sweet nothings about “carbon intensity” and “net zero” that they might get around to… eventually… if society cooperates.

From their own disclaimer:

“If society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.”

Translation: It’s your fault if we keep cooking the planet.

They also point out that their operating plans only go out ten years — conveniently stopping just before the whole “net zero by 2050” target kicks in. Handy, right?

Deep Water, Deeper Denial

The Gato do Mato field sits under 1,750 to 2,050 metres of water. That’s right — over two kilometres beneath the ocean surface. Because Shell’s appetite for oil is so insatiable, even geology can’t stop them.

In case you’re wondering how this all makes financial sense, Shell assures us:

“The investment in Gato do Mato is expected to generate an internal rate of return (IRR) in excess of the hurdle rate for Shell’s Upstream business.”

Of course it will. As long as we all keep driving, flying, and heating homes with fossil fuels, Shell’s profits — and global emissions — remain safe.

The Real Jungle Law

This isn’t energy security. It’s greed, rebranded. It’s another tick on the list of Shell’s extractive exploits — enabled by silent partners in asset management who’d rather talk about ESG than hold Shell accountable.

So thank you, Shell. Thank you for reminding us that oil giants don’t just ignore climate warnings — they treat them like to-do lists. Drill deeper. Pollute longer. Greenwash harder.

And to investors like BlackRock and Vanguard: enjoy those dividends. Just don’t forget who’s footing the climate bill.

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.