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Open Letter from the CEOs of the Oil and Gas Climate Initiative

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Oil and Gas Climate Initiative

May 26, 2020, 08:03 ET

Focusing on what matters

LONDON, May 26, 2020 /CNW/ — The unprecedented challenges the world is facing force us all to sharpen our focus on what really matters. Our immediate priority, as CEOs, is to do everything we can so that our people and communities are safe and capable of confronting the pandemic effectively. We will work to help the world recover from the economic shock of this crisis that has undoubtedly hit some more than others yet impacts us all. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Climate change litigation: Big Oil lost a pair of court battles Tuesday

By Brian Melley | AP  May 26, 2020 at 7:22 p.m. GMT+1

LOS ANGELES — Big Oil lost a pair of court battles Tuesday that could lead to trials in lawsuits by California cities and counties seeking damages for the impact of climate change.

The 9th U.S. Circuit Court of Appeals rejected arguments by energy companies and ruled state courts are the proper forum for lawsuits alleging producers promoted petroleum as environmentally responsible when they knew it was contributing to drought, wildfires, and sea level rise associated with global warming.

The lawsuits claim Chevron, Exxon Mobil, ConocoPhillips, BP, Royal Dutch Shell and other companies created a public nuisance and should pay for damage from climate change and help build sea walls and other infrastructure to protect against future impact — construction that could cost tens of billions of dollars. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

1988 SHELL INTERNAL FILE: THE GREENHOUSE EFFECT

This 1988 Shell report, discovered by Jelmer Mommers of De Correspondent, shines light on what the company knew about climate science, its own role in driving global CO2 emissions, the range of potential political and social responses to a warming world.

The confidential report, “The Greenhouse Effect,” was authored by members of Shell’s Greenhouse Effect Working Group and based on a 1986 study, though the document reveals Shell was commissioning “greenhouse effect” reports as early as 1981. Report highlights include: read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Herald: Shell policies on directors’ pay and carbon emissions in spotlight

Shell policies on directors’ pay and carbon emissions in spotlight

By Mark Williamson Group Business Correspondent

INVESTORS have signalled unease about Royal Dutch Shell’s boardroom pay policy at the company’s annual general meeting.

Around seven per cent of votes cast opposed approval of the directors’ remuneration policy of the oil giant at the meeting.

Chief executive Ban van Beurden’s total remuneration dropped by around £9m last year, from £17.8m in 2018, following a fall in the value of his performance-related awards. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

EnergyVoice.com: ‘Big win’ as Shell urged by more shareholder activists to meet climate targets

‘Big win’ as Shell urged by more shareholder activists to meet climate targets

A shareholder activist group has claimed a ‘big win’ after an increase in the number of investor votes urging Shell to meet its climate targets.

Follow This, which has led a campaign to encourage oil firms such BP, Shell, Chevron and Equinor to align their targets with the Paris Climate Agreement, saw 14.4% of investors vote for its resolution at Shell’s Annual General Meeting (AGM) – an increase from 5.5% in 2019. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Reuters: Protesters chant ‘Shell must fall’ at oil major’s meeting

Protesters chant ‘Shell must fall’ at oil major’s meeting

Environment: May 19, 2020 / 11:51 AM / Updated 3 hours ago

THE HAGUE (Reuters) – Dozens of demonstrators chanting “Shell must fall” gathered on Tuesday outside the oil giant’s headquarters in the Netherlands, where a virtual annual shareholders’ meeting was underway.

Roughly 30 activists from environmental groups Greenpeace, Extinction Rebellion and Code Red sang and danced in protest at the Hague offices of Royal Dutch Shell (RDSa.L).

Hundreds of activists had signed up to attend, but Dutch authorities allowed no more than 30 due to coronavirus distancing measures. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Reuters ANALYSIS-Coronavirus widens climate rift between European and U.S. oil majors

* European oil majors boost share of low-carbon investments

* European CEOs see faster energy transition after coronavirus

* GRAPHIC: European oil majors’ spending tilts green tmsnrt.rs/3dWh9VV

By Ron Bousso and Shadia Nasralla

LONDON, May 18 (Reuters) – Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel demand, according to a Reuters review of company statements and interviews with executives. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell, Total and Equinor give green light to major international CO₂ storage project

English translation of an article published this weekend by the Dutch Financial Times, the FD.

Shell, Total and Equinor give green light to major international CO₂ storage project

Bert van Dijk

Shell, together with the French oil and gas group Total and the Norwegian Equinor, has made a final investment decision for a large CO₂ storage project in Norway. The companies want to build infrastructure to transport captured CO₂ from industrial factories in Europe to Norway and store them there in a reservoir under the bottom of the North Sea.

Equinor will lead the project, which will store 1.5 million tons of CO₂ annually. The parties announced this on Friday. It is one of the largest CO₂ storage projects in the world. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

FORECOURTtrader.co.uk: Shell wants to be net-zero emissions business by 2050

Shell wants to be net-zero emissions business by 2050

12 May 2020

Shell aims to be a net-zero emissions energy business by 2050, or sooner if possible, as it focuses on its intention to “lead and thrive” through the transition to a low-carbon energy future.

In a recent Responsible Investment Annual Briefing, the company’s chief executive, Ben van Beurden, revealed an ambition to be net zero on all the emissions from the manufacture of all Shell products by 2050 at the latest. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Reuters: Shell, Eni lead oil majors’ climate ambitions but still fall short -investors

Shell, Eni lead oil majors’ climate ambitions but still fall short -investors

Shadia Nasralla: MAY 12, 2020

* TPI prefers Eni for including third-party fuels, setting absolute carbon reduction target

* TPI says sector’s “net zero” carbon future not substantiated

* More details needed on offsetting, renewables plans

* OMV currently laggard among integrated energy groups

By Shadia Nasralla

LONDON, May 12 (Reuters) – None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell needs to consider Van Beurden succession

English translation of an article published today by the Dutch FT

Shell needs to consider Van Beurden succession

From our editor

CFO Jessica Uhl and CEO Ben van Beurden before the start of the Shell Shell shareholders’ meeting in Scheveningen last May. Photo: Piroschka van de Wouw / Reuters

In brief

  • Investors say in the Sunday Telegraph that Shell should reflect on the position of its top man.
  • The British newspaper published a story based on anonymous sources.
  • Shell is struggling: last week, the dividend was cut for the first time in decades.

One of Shell’s largest shareholders has suggested that the oil and gas company should start thinking about succeeding CEO Ben van Beurden, the day after Shell reduced its dividend for the first time since World War II. That writes the Sunday Telegraph. The British newspaper has spoken to two investors from the top 20 largest shareholders, one of which says it is time for a ‘changing of the guard’. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell surprises investors with a historic decrease in dividend

English translation of an article published by the Dutch FT.

Shell surprises investors with a historic decrease in dividend

Bert van Dijk and Saskia Jonker

  • Shell is reducing the dividend due to challenging macroeconomic conditions.
  • Shell’s dividend has been under pressure for some time.
  • Due to sharply declining oil and gas prices and the drop in demand for oil products, net profit decreased 46% to $ 2.9 billion in the past quarter.

It took four board meetings, but then the time had come: oil and gas multinational Shell RDSA cut € 15.48-10.43% for the first time in 80 years in its dividend. “A difficult day for the company,” said Shell CEO Ben van Beurden. ‘No chairman of the board wants this on his track record, but it is wise to do’.

Shell reduces its quarterly dividend by 66% to $ 0.16 per share. It is the first time since World War II that Shell, one of the largest dividend payers in the world, is reducing the dividend. Shell paid $ 15 billion to shareholders last year. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Hands Out a Dose of Oil-Price Reality

By Chris Hughes | Bloomberg: April 30, 2020 at 11:33 a.m. GMT+1

Hats off to the board of Royal Dutch Shell Plc for letting reality rather than hope determine the oil major’s dividend. Thursday’s historic and hefty cut to the payout recognizes that the pandemic is likely to change the dynamics of energy demand for some time. The hope now must be that Shell resists any pressure to reverse the reduction in a hurry. Instead, it should use the breathing space to reset more fundamentally how it allocates financial resources to investment, debt reduction and paying out to shareholders. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Reuters: Shell cuts dividend for the first time since World War Two

Ron Bousso, Shadia Nasralla: APRIL 30, 2020

LONDON (Reuters) – Royal Dutch Shell RDSa. cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic.

Shell also suspended the next tranche of its share buyback programme and said it was reducing oil and gas output by nearly a quarter after its net profit almost halved in the first three months of 2020.

Shell’s shares in London dropped 6.7% in early trading on Thursday, underperforming rival BP (BP.L).

“Given the risk of a prolonged period of economic uncertainty, weaker commodity prices, higher volatility and uncertain demand outlook, the Board believes that maintaining the current level of shareholder distributions is not prudent,” Shell Chairman Chad Holliday said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Amnesty International Report: On Trial: Shell in Nigeria: Conclusions and Recommendations

FROM PAGES 28 & 29

These cases are important for what they mean for the individuals and communities involved. They could also set important precedents on the responsibility of companies for their overseas operations, which would open the way for further litigation not only against Shell but other multinational corporations as well.

They are also placing a much-needed spotlight on Shell’s business model in Nigeria.

Nigeria’s regulation of the oil industry is undoubtedly weak and lacks independence. Government agencies responsible for industry regulation and enforcement are under-resourced, ineffective and in some cases compromised by conflicts of interest. Its own courts have failed to offer the victims of human rights abuses a meaningful avenue for seeking justice for the oil spills that have blighted the Niger Delta and the lives and livelihoods of its communities. Shell has thus avoided being held effectively to account in Nigeria. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Fortune: Shell becomes the largest global energy company to commit to a net-zero emissions goal by 2050

By KATHERINE DUNN: April 16, 2020 4:07 PM GMT+1

Energy giant Royal Dutch Shell said Thursday it would aim to reduce its emissions to net-zero by 2050, making it the largest global oil and gas company in the world so far to sign on to the target. It’s a commitment that will fundamentally shift the nature of its business.

The target will cover emissions from the manufacture of its products, the company said. A net-zero goal means to reduce all possible emissions, while offsetting those that can’t be cut entirely; the 2050 target coincides with guidelines under the Paris climate change accord. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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