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Shell boss reveals regrets and pride as he steps down after decade

thenationalnews.com

Shell boss reveals regrets and pride as he steps down after decade

Ben van Beurden’s regrets were linked to financial issues in the Arctic and safety at a Dutch oilfield

Soraya Ebrahimi: Oct 28, 2022

Shell’s chief executive Ben van Beurden has said he regretted not acting earlier on two problems linked to the environment, as he prepares to step down after nearly a decade in charge.

Mr van Beurden said he should have acted in 2015 on data coming out of the Groningen gasfield in the Netherlands. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell could start profit slowdown as Labour pushes to expand windfall tax

CITYA.M.

Shell could start profit slowdown as Labour pushes to expand windfall tax

: MONDAY 24 OCTOBER 2022 4:13 PM

The historic profit run from oil and gas titans is expected to slow down this week, when Shell unveils its latest results.

Producers are grappling with both inflation and suppressed demand amid growing expectations of a global recession.

Shell has warned ahead of its third quarter update this week that earnings will likely be dented by a sharp hike in refining costs and weaker natural gas trading.

In an update earlier this month, it revealed indicative refining margins dropped to $15 a barrel compared with $28 a barrel in the previous three months of trading.

The energy giant will update investors on its performance this Thursday, the first in a wave of results from oil and gas giants over the coming days.

Rivals BP, Chevron, Exxon Mobil, Equinor and Saudi Aramco will also announce their results over the coming days – offering markets a flurry of data on the latest conditions in the fossil fuel sector. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Dutch prosecutors to pursue pollution case against Shell-Exxon gas venture

Dutch prosecutors to pursue pollution case against Shell-Exxon gas venture

By Syndicated Content Oct 12, 2022 | 7:53 AM

AMSTERDAM (Reuters) -Dutch prosecutors said on Wednesday they will pursue a pollution case against NAM, a joint venture of Shell and ExxonMobil that operates gas fields in the Netherlands.

The prosecutors “(suspect) NAM of injecting waste streams from natural gas extraction into the deep subsurface without a permit”, a statement from their office said.

Prosecutors say they believe the company took waste products from natural gas extraction in the North Sea, then processed and injected them into empty gas fields in the province of Groningen.

A spokesperson for NAM said the company would respond later on Wednesday.

Reuters reported last month that Shell And ExxonMobil have put their 50-50 venture up for sale, with expected proceeds of over $1 billion.

NAM started producing natural gas in 1963 following the discovery of the giant Groningen field, which was a major source of gas for the Netherlands and Europe for decades.

But extraction has been almost completely wound down in the past 10 years as tremors blamed on drilling damaged buildings and prompted protests by residents and campaigners. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell should have quit Groningen gas project in Netherlands earlier -CEO

REUTERS

Shell should have quit Groningen gas project in Netherlands earlier -CEO

AMSTERDAM, Oct 13 (Reuters) – Shell CEO Ben van Beurden told a Dutch parliamentary panel investigating problems relating to natural gas production at the large Groningen gas field in the Netherlands that the company should have pulled out of the project earlier.

Production at Groningen was scaled back sharply over a period of years in the 2010s after the Dutch government and producer NAM, a Shell-Exxon joint venture, realized the earthquakes it caused posed too great a threat to life and property.

“We had to continually ask what makes sense,” as production was dialled back to levels at which NAM made little to no profit, Van Beurden told lawmakers.

“What made sense for Shell was to quit. In any other country we would have stopped this operation. But in the Netherlands that was impossible because the Netherlands was dependent on Groningen gas.”

A damning report in 2015 from the independent Dutch Safety Board had accused the government and the field’s operators of ignoring the threat of earthquakes linked to the field for years. As vast amounts of gas were removed from under the province since 1963, the ground sank and settled above empty pockets, triggering quakes. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell, Exxon launch joint sale of UK, Dutch North Sea assets -sources

Reuters

Shell, Exxon launch joint sale of UK, Dutch North Sea assets -sources

Ron Bousso: Tue, September 27, 2022 at 4:16 PM

LONDON, Sept 27 (Reuters) – Shell and Exxon Mobil have launched a joint sale process of a large package of offshore natural gas assets in the southern UK and Dutch North Sea, three industry and banking sources said.

The two companies have hired investment bank Jefferies to run the sale, which could raise over $2 billion, the sources said.

Launched earlier this month, the sale comes after Shell and Exxon independently ran initial sales processes for their British and Dutch assets.

Shell declined to comment. Jefferies declined to comment. Exxon did not immediately reply to a request for comment.

In July, Shell and Exxon launched the sale of the 50-50 NAM joint venture in the Netherlands, operator of the Groningen gas field and one of Europe’s largest and oldest natural gas production companies.

The two companies have also separately put up for sale their stakes in their British southern North Sea gas hub, which include the Clipper Leman Alpha hubs as well as the Bacton terminal in eastern England, the sources said. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Dutch limit Groningen gas production despite energy crisis

Dutch limit Groningen gas production despite energy crisis

By Reuters  •  Updated: 26/09/2022 – 16:25

AMSTERDAM -Gas production at the Groningen field in the Netherlands will be lowered to the minimal amount needed to keep wells operational in the coming year, as extraction is expected to end by 2024 at the latest, the Dutch government said on Monday.

Production at Groningen, once one of Europe’s major suppliers of natural gas, will be capped at 2.8 billion cubic metres (bcm) in the year starting Oct. 1, the government said, down from 4.5 bcm in the current year.

The Groningen field, operated by a joint venture of Shell and Exxon Mobil, still holds massive reserves of natural gas. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

yahoo!

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Tens of thousands to get compensation for Groningen earthquakes

NL TIMES

Tens of thousands to get compensation for Groningen earthquakes

TUESDAY, 6 SEPTEMBER 2022

Tens of thousands of Groningen residents are still eligible for compensation for earthquake damage. This is reported by the Groningen Institute for Mining Damage (IMG), which will offer a one-time fixed payment of 5,000 euros as compensation to people who, in the past, received little or no restitution. In total, the institute estimates that it will cost an additional 100 million euros more than the hundreds of millions already spent on compensation for physical damage. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

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

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.