Several big fund managers believe that oil companies should shut themselves down because soon they will become impossible to invest in as the world switches to renewable energy.
A survey of 39 fund managers with $10.2 trillion under management found that 24 per cent wanted the oil industry “to wind down their businesses and return cash to shareholders”. All but two of the funds said that oil stocks would not be attractive investments within ten years if they failed to respond to climate risks.read more
Energy group Shell is withdrawing from the construction of an LNG plant on the Russian Baltic coast. The Russian partner Gazprom announced at the end of March that, in addition to the installation, it would also like to build a factory that can process fat gas from Western Siberia. The Anglo-Dutch oil company does not feel like that.
“Following Gazprom’s announcement on March 29 about the final development concept of Baltic LNG, we decided to stop our involvement in this project,” said Cederic Cremers, President of Shell Russia, in a statement.read more
The world’s five largest publicly traded oil companies are increasing their investments in oil and gas, putting a combined $110 billion in new fossil-fuel production.
Meanwhile, those firms are projected to spend just $3.6 billion on low-carbon investments, such as biofuels and renewables, according to a new analysis that Influence Map, a British nonprofit that analyzes corporate influence on climate policy, derived from industry data and numbers buried in company disclosures.
The reckless disparity comes just months after the United Nations warned that the world must rapidly phase out fossil fuel use over the next decade or face catastrophic global warming of at least 2.7 degrees Fahrenheit.read more
Shell’s investment could surpass $650M if exploration continues, according to the president of Colombia’s National Hydrocarbons Agency.
The government recently modified contractual terms for offshore exploration and launched a new process that allows companies to apply to explore in areas of interest, offering 20 blocks as part of a strategy to boost the oil sector.read more
Last week, Royal Dutch Shell (RDSB) revealed that it is facing charges in the Netherlands relating to corruption allegations surrounding a Nigerian oil bloc called OPL 245. Shell and Italian major ENI SpA (ENI.IM) acquired the licence in 2011 for around $1.3bn (£992m), but it’s alleged that a significant proportion of the monies was destined for use as kickbacks for politicians and officials, with former Nigerian oil minister Dan Etete – a convicted money launderer – acting as the principal intermediary. Although the funds were paid to the Nigerian government, it’s claimed that they found their way into the coffers of Malabu Oil and Gas — a company linked to Mr Etete.read more
Loppersum vibrates below the surface. From gas extraction and restrained anger. The earthquake of a year ago in the three kilometres away Zeerijp gave the last push for the Cabinet decision to close the gas tap in Groningen.
House in Loppersum that has been damaged by the gas quakes and whose façade needs to be supported.ROBIN UTRECH / HOLLANDSE HOOGTE
Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.
‘I was not prepared for the intensity of the quake file’
Hans Engels is D66 party leader in the Senate. He is also mayor of the municipality of, in the epicentre of the Groningen gas drama. Interview about administrative failure, yellow vests and the Senate. “Raise it.”
The lovely Groningen Loppersum seems to be a song of praise for eternity. But the settled peace and quiet are deceitful. Where you expect the Groningen tongues in the local hotel restaurant ‘Spoorzicht’, you will hear Eastern European and Irish sounds. The menu is English. ‘They work in the Eemshaven and stay here’, says the hostess about the men who eagerly eat their bouncers and twelve hours.read more
Angry Dutch citizens on Thursday will ask their country’s highest court to put an immediate end to gas production in the Groningen region due to the risk of life-endangering earthquakes.read more
EXCLUSIVE: TV chef who previously campaigned for green causes is facing a major backlash
The TV chef has launched Jamie Oliver deli by Shell (Image: PA)
Shell, whose profits hit £4.3billion last year, is in the top 10 global carbon dioxide emitters. It is also involved in a corruption trial over dealings in Nigeria.
Jamie Oliver has sparked fresh fury after trying to defend his £5million food-to-go deal with Shell.
The TV chef, 43, yesterday launched his range for the oil giant, despite campaigning for action on climate change.
He said he had “thought a lot” before agreeing to it, adding: “There are pitfalls working for any client, they all have their own baggage.”
But campaigners hit out at his reasoning, which comes after Jamie told of a cash crisis at his company.
Shell, whose profits hit £4.3billion last year, is in the top 10 global carbon dioxide emitters. It is also involved in a corruption trial over dealings in Nigeria.read more
Jan. 9, 2019 11:58 AM ET| By: Carl Surran, SA News Editor
The Dutch High Court says it will consider demands on Jan. 17 seeking an immediate end to gas production from the Groningenfield, after the government said it would cut output gradually.
The High Court says it received 26 objections to the plan, expressing concerns about seismic risks caused by drilling and demanding an urgent halt in production.
Analysts say the court is unlikely to grant an immediate halt because the Netherlands still depends on Groningen gas for a significant part of its energy supply.read more
Ben van Beurden has marked five years as chief executive of Royal Dutch Shell by giving a “wide-ranging interview” on climate change, his leadership style and “Shell’s biggest financial transformation” — an interview given to, erm, Royal Dutch Shell’s website. But rest assured, the oil group’s in-house journalists weren’t letting their boss off lightly. The transcript published yesterday features such hard-hitting questions as: “Who do you turn to for advice and support?” (answer: his wife, Stacey); “What are you most proud of when you look back at 2018?”; and “Why is trust so important for Shell?” A real zinger, that one.
Shell buys out Total’s 26% stake in Hazira LNG and Port
By Rachita Prasad: ET Bureau: Updated: Jan 09, 2019, 03.01 PM IST
Royal Dutch Shell has completed the acquisition of Gujarat-based Hazira LNG and Port Ventures from French energy major Total Gaz Electricité Holdings, the company said in a statement on Wednesday.
Shell Gas, a subsidiary of Royal Dutch Shell plc, acquired 26% equity interest in the Hazira LNG and Port from Total, to complete the acquisition. We did not disclose the financial consideration for the deal.
“The move allows Shell to build an integrated gas value chain: supply from its global LNG portfolio, regasification at the Hazira facility, and downstream customer sales. It further enables Shell to contribute towards India’s long-term need for more and cleaner energy solutions,” Shell said in the statement.read more
The firm also faced widespread shareholder opposition over chief executive pay last year.
Mr van Beurden said: “I feel an attack on Shell as an attack on my personal integrity. It’s something I feel deeply, probably at least once a day. If I can reduce that to once every other day, I’ll know that we are making progress.
“Of our three strategic ambitions – to become a world-class investment case, to thrive through the transition to lower-carbon energy and to have a strong societal licence to operate – I’m confident that we can achieve the first two.
“But I can’t see a sure path towards strengthening our societal licence to operate just yet.
“We need to change people’s perceptions through better performance and behaviours. And we need to have a better dialogue with civil society in some parts of the world.”
Marissa Luck, Houston Chronicle: Monday, Jan 7, 2019
The Gulf Coast has become home of one the largest producers of a common plastic: Shell fired up its fourth alpha olefins unit at its chemical plant in Geismar, Louisiana, the company said Monday.
The multi-billion dollar expansion adds 425,000 metric tons per a year in capacity to the chemical manufacturing site, bringing its total alpha olefin production up at Geismar to more than 1.3 million metric tons per a year. That makes it the largest alpha olefins producing site in the world, the company said.read more
In 2018 it would all be well for the earthquake victims in Groningen. But again they became victims, this time from a bureaucratic swamp.
The underlying idea was clear: if gas extraction decreases, there are fewer quakes and fewer homes need to be strengthened.
The goal is that Groningen residents in the earthquake area can live safely as quickly as possible
A complete earthquake industry has emerged in Groningen…
The decision by Minister Wiebes to stop gas extraction means that he has left € 70 billion of gas in the ground.
A grocery mentality at the NAM, which was going to do difficult about the smallest amounts, a government that took it too long, an earthquake industry that was rigged and got the characteristics of a maze; in the end, that has all led to billions being left in the ground.
Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.
In 2018 it would all be well for the earthquake victims in Groningen. But again they became victims, this time from a bureaucratic swamp.
The most defining moment in the past year for Groningen was not the earthquake in Zeerijp on Monday 8 January. Not even Thursday, March 29, when Minister Eric Wiebes of Economic Affairs and Climate said: we are moving away from the gas. The actual turning point came in a meaningless Hague press room at Nieuwspoort, on Monday 2 July.
Prime Minister Rutte was visiting US President Trump that day, German Chancellor Merkel swore a government crisis, and later that evening Belgium would qualify for the quarter-final of the World Cup. Co Verdaas came into the modest room at the end of that sunny Monday morning.read more
SINGAPORE (Reuters) – Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday.
“We continue to progress Prelude towards operations, with safety and quality being our main focus … We expect to see production around the end of the year,” she told Reuters in an emailed statement.
Prelude – which will process natural gas produced offshore northern Australia and export it as LNG – is expected to have an annual LNG production capacity of 3.6 million tonnes. It will also produce 1.3 million tonnes a year of condensate and 400,000 tonnes a year of liquefied petroleum gas (LPG).read more
‘Shell wants to be as transparent as possible, but we can not force ourselves to throw confidential information on the street on the basis of anonymous sources.’
Shell does not answer the question of whether it pays corporation tax in the Netherlands in addition to the income tax on gas extraction by the NAM. The oil company does not want to confirm or deny reporting on this in the newspaper Trouw. However, it can be concluded from the annual reports of Shell companies that the company does not pay tax on its profits in the Netherlands.
‘Shell wants to be as transparent as possible, but we can not force ourselves to throw confidential information on the street on the basis of anonymous sources.’ This is the reaction of CEO Marjan van Loon of Shell Nederland to the message from Trouw that the British-Dutch multinational does not pay any profit tax in the Netherlands. While Shell does make a profit in the Netherlands, even if the NAM remains out of consideration. For example, with its chemical plant in Moerdijk, the refinery in Pernis and petrol stations along the motorways.read more
Bogus Group: I concur with Bonus Group recollection of the tin pot, lacklustre, parvenu outfit. There was no place in BG Group for experienced professionals if they didn’t possess the sycophant tendencies required to stoke the egos of those deluded by corporate grandeur.
Large remuneration packages were not uncommon then too, the chief executive received circa £13mm (published) in bonuses throughout his 12 year tenure. During that period there were 26 fatalities, roughly £500k for each. That was more than distasteful.
Bonus Group: Today is the anniversary date of the agreement on terms of the takeover of BG Group (a tin pot, lacklustre, parvenu outfit) by Royal Dutch Shell plc in 2015. In consequence of BG Group's consistent failures to meet targets and the engineered predatory takeover by Royal Dutch Shell plc the careers and professional lives of many experienced Geoscientists and Engineers were brutally butchered, terminated, and cast aside like so much offal, so it is rather distasteful to see the size of Ben van Beurden's remuneration package being flaunted in the press by Royal Dutch Shell plc.
CEP Problems: It seems to be impossible right now to get any chance of landing a job inside Shell these days. Everytime people apply for jobs unless they have high potential or a diversity point they get rejections. I got told recently that the hiring manager was looking for someone with high potential. Don't these people realise that they also need QUALIFIED people to actually do the work. Ridiculous but it almost getting to age discrimination these days. Rant over.
Shell Canada Insider: SHELL CANADA
...they are wanting to sell their Alberta operations..... because there is no money left in it...they have syphoned it all off.....
I think also on 2010-2011 they had multiple explosions at their Caroline facility supposedly an employee during an explosion at the south compressor station had to be airlifted to hospital and was seriously injured.
The aer/ govt shut it down. it was closed for 6 months and half of the plant was decommissioned when it restarted.
That must have cost them millions of dollars.....there should be government records of this stuff....
The description of the fairleads causing the mooring ropes to chafe to such an extent is almost so ridiculous to render ex-seafarer speechless. The fitting of nylon liners inside the fairleads is something new for me but the idea behind it would may be to reduce the friction of the mooring lines when running through the fairlead thus reduce any temperature potential in a zone 2 area. Fixing one potential risk appears to have created another one of greater risk potential. I am not sure how the nylon liners in the fairleads would have such sharp edges to chafe the mooring lines on their own and perhaps there may have been something else to which the journalist has missed out. The reported leakage of LNG in the manifold area from a flange should not have happened but the liquid transfer areas are all bunded in low-temperature materials and provided with a constant supply of running water during cargo handling activities. Power outages during start-up operations and ongoing are nothing new and others can be expected, hopefully not very often as the restart of such a complicated process system takes a long time and much effort. The problem with firewater deluge over the LNG storage tanks reported is of considerable concern but the journalist does not mention if this was during the period when systems were being tested prior to the introduction of LNG or after. If before then this section of the report is just journalistic license and of no consequence whatsoever. The other issues as reported can be considered minor during the preparation phase before the introduction of hydrocarbons in any form but definitely of concern if these incidents were after the introduction of hydrocarbons. I wish the people who are experiencing the startup of such a complicated and complex plant every success. Take the time that is needed to be successful by being safe, good luck.
John Donovan: Irish Backstop Update
According to a Sunday Times article two days ago, "Ireland continues to dodge difficult questions about how it will protect the single market and also maintain an open border under a no-deal."
IRELAND has been warned it faces the difficult choice between implementing a hard border or being forced out of the EU’s single market in an unprecedented move to protect the bloc from a no-deal Brexit.
Dublin will be forced to make the tough choice if Britain quits the EU without a deal, according to a number of senior EU figures.
The European Commission sparked fury from Ireland after declaring Dublin would have to implement a hard border in the event of a no-deal Brexit. After significant protests from, which involved a heated debate between Leo Varadkar and Jean-Claude Juncker, Michel Barnier, the EU’s chief negotiator, suggested “operational solutions” would have to be found in order to prevent a hardening of the border.
But now high-ranking MEPs have hardened their position, insisting the single market must not be compromised even to maintain peace on the island of Ireland.
Elmar Brok, a German MEP with close ties to Angela Merkel, insisted that if Ireland failed to police its own borders the EU would have to take its own protectionist action.
“We would have to set up a customs border with Ireland,” the German said.
He also warned that if Brussels didn’t make the demands then "we will soon have American chlorine chicken in the EU".
BvB Anti-Brexit: BvB has been quoted in many articles following the outcome of the Brexit vote as expressing negativity about Brexit and the effect it could have on RDS. This can be confirmed by running a Google search on "Ben van Beurden Brexit". The articles today in the Scottish press and Upstreamonline are but the latest publishing his views on the subject. Despite all of the negativity, my own view is that a satisfactory Brexit deal without the backstop will be done. If not, the EU and Ireland will be an international laughing stock when they create a hard border soon after Brexit, the outcome they were supposedly trying to avoid. That development would provide a better example of the consequences of deranged Irish logic than any infantile Paddy joke I can recall. The stupidity of certain Irish politicians is poisoning previously improved relations between the UK and Ireland, which is a great pity.
Brexit: All of the ingredients will be there for a return to violence in the event of the UK being forced into a no deal by Ireland. The current impasse is down to Ireland which may well come to regret its hostility towards the UK. How many of the 17 million Brits who voted for Brexit will wish to holiday in Ireland now?
C16 Inmate: I find it fascinating how so many brainwashed Shell slaves are quick to criticise Mr Donovan for the work he is doing. It is surely his decision and prerogative to do whatever he wants with his own time? Just like you and I choose to work for a slimy, corrupt, evil, fascist, environment destroying company. The only difference is that I actually admit to being a whore that’s sold my soul for money!
As for your defence of Brinded, I find it laughable. That man was an abnoxious individual who was acting more like an SS officer than a senior executive.
Keep up the good work John. Warm wishes and my heartfelt thanks to for keeping us all informed of Shell’s true nature.
REPLY BY JOHN
While I am grateful for the kind words, I do not know of any grounds to support your comment that Shell is a fascist company. With regard to Mr Brinded, despite my many negative comments about him over the years, comparing him with an SS officer is wrong.
PURE POISON: Mr Donovan if it is your twisted objective to poison the Internet for the Shell brand you, unfortunately, seem to be succeeding. Searching for any subject connected with Shell inevitably seems to generate negative news reports, negative information and anti-Shell images, all apparently originated by you. Your allegations about Shell’s alleged Nazi history seem to be spreading across the Internet like a virus. Your Shell-branded counterfeit websites seem to be multiplying almost by the day. I am losing count of them all. This situation is bad for all stakeholders including employees, shareholders and pensioners. I also object to the personal attacks on Shell people, for example on Malcolm Brinded who has never been found guilty of any wrongdoing. Don’t you have any scruples? I am also concerned for your mental health and your bank balance. Is a third party also hostile to Shell funding your pervasive and malicious online activities? What’s the betting that my comments will not appear on your supposedly uncensored Shell Blog? I am also mystified why Shell has not taken action to protect its reputation?
REPLY BY JOHN DONOVAN
Shell has been complaining about my online activities since March 1995 and on occasion has taken legal action, including a three-week high court trial in 1999. There is no possible defamation if what is stated is true.
The most recent proceedings were in 2005 via the World Intellectual Property Organisation. Shell unsuccessfully attempted to seize some of our Shell related domain names including royaldutchshellplc.com and royaldutchshellgroup.com.
All of the litigation cost Shell tons of wasted money in legal fees and attracted negative publicity.
Shell lost every case.
We have sued Shell twice for defamation. Shell settled both cases.
A covert attempt by Shell to close down hosting for our websites failed.
More recently, RDS Company Secretary/Main board member Michel Brandjes threatened legal action over my book about Shell's Nazi history. His emailed threats turned out to be nothing but bluster. Shell will never take legal action on the topic as it would draw attention to the most toxic subject relating to any existing major multinational in the world.
I will continue to publish true facts about Shell and where appropriate corrupt senior management involved in scandals such as the Shell SMART rigged contract tender, the Brent Bravo deaths, the reserves fraud and OPL 245. Mr Brinded has involvement in all four scandals.
BRINDED: ON THE SUBJECT OF BRINDED:
He has such a strange brain, could outthink most people in Shell but rather than concentrate on doing good things for Shell and developing people he became the ultimate micromanager and surrounded himself with sycophants. Until the 2nd half of the eighties he was OK and the driving force of the highly successful SLIM technology. I believe this was what launched his big career. Thereafter he became moody and unpleasant for people who dared to question him or make good suggestions to him. Probably quite insecure and status conscious. Never understood this. He just took himself too seriously.
FG names Shell, Eni executives in $1bn bribery case – The Punch 08 May 2019 11:43 Google ’Femi Asu with agency report
Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it believed a handful of executives, including Chief Executive …
FG files fresh charges against Shell executives, JPMorgan over Malabu Oil scandal 08 May 2019 10:01 Herald Sequel to the lawsuit filed last year against Royal Dutch Shell Plc, Eni and JP Morgan for being involved in a $1bn oil block bribery case, the Federal Government has submitted new case documents that indict their top executives.
FG said in the court files …
FG names Shell, Eni executives in $1bn bribery case 08 May 2019 08:09 Punch Newspapers ’Femi Asu with agency report
Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it believed a handful of executives, including Chief Executive …
Dutch Prosecutors to Arraign Shell over $1.3 billion Acquisition of OPL 245 02 Mar 2019 10:19 Biz Watch Nigeria Dutch Prosecutors to Arraign Shell over $1.3 billion Acquisition of OPL 245
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011.
Shell said in a …
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON. EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
Climate change could wipe up to $4 trillion off the value of fossil fuel assets, the governor of the Bank of England has said: ALAMY
Printed below is an English translation of an article published today by the Dutch FT, 
Shell is stepping out of a mega project with Gazprom
Shell, whose profits hit £4.3billion last year, is in the top 10 global carbon dioxide emitters. It is also involved in a corruption trial over dealings in Nigeria.
Ben van Beurden has marked five years as chief executive of Royal Dutch Shell by giving a “wide-ranging interview” on climate change, his leadership style and “Shell’s biggest financial transformation” — an interview given to, erm, Royal Dutch Shell’s website. But rest assured, the oil group’s in-house journalists weren’t letting their boss off lightly. The transcript published yesterday features such hard-hitting questions as: “Who do you turn to for advice and support?” (answer: his wife, Stacey); “What are you most proud of when you look back at 2018?”; and “Why is trust so important for Shell?” A real zinger, that one.
Shell buys out Total’s 26% stake in Hazira LNG and Port
The boss of oil giant Shell has admitted he is “still unhappy” with the firm’s safety performance, despite pledging a redoubling of efforts in 2018.
In 2018 it would all be well for the earthquake victims in Groningen. But again they became victims, this time from a bureaucratic swamp.
‘Shell wants to be as transparent as possible, but we can not force ourselves to throw confidential information on the street on the basis of anonymous sources.’
Shell keeps profit tax in the Netherlands secret
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EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.