News and information on Shell Plc
: 17 DECEMBER 2019
Royal Dutch Shell has revealed that it paid no corporate income tax in the UK in 2018 despite raking in $731m (£557m) of pre-tax profit on revenues of $108bn in the country.
The new report, published on Tuesday, is the first time the oil and gas titan has released public details of the corporate income tax paid in countries and locations across all its businesses.
Shell said it would disclose the amount paid in an attempt to be “more transparent”.
* Follow This calls on companies to align with Paris agreement
* Resolutions filed with Shell, BP, Equinor, Exxon, Chevron
* Oil majors’ carbon emissions: tmsnrt.rs/2l6A9v0
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By Ron Bousso
LONDON, Dec 15 (Reuters) – An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions.
Dutch group Follow This is targeting U.S. giants ExxonMobil , Chevron and their European rivals Royal Dutch Shell, BP and Equinor with climate resolutions ahead of next year’s annual general meetings (AGMs) scheduled for the first half of 2020.
9 Nov 2019
A raft of measures have been put in place to reduce the amount of ethane Shell is being forced to flare while the Mossmorran plant in Fife is shut.
Shell has been left with a surplus of ethane since its customer Exxonmobil temporarily closed the plant in August.
Now Shell said it had switched from powering its furnaces with propane to using ethane and reduced the amount of North Sea gas it receives.
Residents said they had not noticed much change in flaring.
However, Shell said it had managed to reduce flaring of ethane “significantly” as a result of the new measures, which also include adding ethane into household’s supply of methane.
Below is a translation of a news brief issued today 7 Nov 2019 – by NAM, the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field. And also for the consequential potential bill for untold billions to deal with damaged residences like the example in the photograph. Someone forget to mention in the news brief the shocking reason why the Dutch government ordered the closure. The word “earthquake” does not appear anywhere.
It seems only a signature, but it marks the start of the closure of the Groningen field. At the end of October, NAM transferred the Ten Post gas extraction site to Meuva. This company will start cleaning up the location around 11 November.
By Nick Cunningham – Nov 02, 2019, 4:00 PM CDT
The carbon bubble “continues to inflate,” according to a new report from Carbon Tracker. And yet no major oil company has aligned its operations with the goals set out in the Paris Climate Agreement.
This is not just a matter of bad corporate behavior. The oil industry is charging ahead with oil and gas projects that completely defy climate targets, which means that they are taking on serious financial risk. “Companies who continue to sanction higher-cost projects which do not fit with a lower demand scenario risk destroying significant shareholder value through the creation of stranded assets,” Carbon Tracker warned. The more companies delay, the greater risk they take on.
The world’s largest oil and gas companies need to slash their production by more than a third by 2040 to meet global climate targets, according to a new report.
The seven listed oil majors – including ExxonMobil, BP and Shell – would need to cut the total amount of oil and gas they produce every day by 35% to avoid driving temperatures 1.5C higher than pre-industrialised levels.
Global governments would also need to stop issuing new oil and gas licences for fossil fuel exploration, according to the report.
By HARRY WISE FOR THISISMONEY.CO.UK and PA
Oil giant Shell has experienced a large fall in third-quarter profits due to weaker oil prices.
Earnings after stripping out fluctuating expenses fell 15 per cent to £3.7billion, well below estimates it might reach almost £5billion.
Shell was able to charge an average of £43.25 per barrel of oil it produced in the quarter, down from £52.69 in the same three months last year. It was even more than a dollar lower than the second quarter price.
Sam Meredith: 31 Oct 2019
Oil giant Royal Dutch Shell reported weaker-than-expected third-quarter net profit on Thursday, citing lower energy prices and chemicals margins.
Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $4.767 billion for the third quarter of 2019. That compared with a profit of $5.624 billion in the same quarter a year ago and $3.462 billion in the second quarter.
The so-called supermajors — Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Total SA and BP Plc — are expected to disclose a 42% plunge in third-quarter earnings, on average, when they post results this week. That drop-off is too steep to blame on the 18% decline in crude oil prices, which means executives will have some explaining to do.
Exxon, Shell, and BP already have already taken steps to manage shareholder expectations by releasing limited data points on things like refinery repairs, asset sales and hurricane impacts on offshore oil production. Nonetheless, investors will be watching for additional color on what to expect for the remainder of 2019.
What do the former Redcar steelworks on Teesside, a university in the Midlands and forests in the Scottish Highlands have in common? Answer: Big Oil is praying they hold the key to its future.
Strikes by schoolchildren, the rise of “flight-shaming” and an exodus of investors have left the energy industry reeling. Oil giants’ multibillion-pound bet — that gas will power the global economy into a low-carbon future — now looks risky.
As the mood changes, Big Oil is making increasingly ambitious — and desperate — attempts to clean itself up and reduce or trap carbon emissions. For giants including Shell, Total and BP, that means carbon capture and storage (CCS) at Redcar, promoting hydrogen as an alternative fuel, such as a pilot at Keele University — and even planting forests in Scotland.
The oil industry is facing a series of legal cases that are expected to examine what companies knew about the potential impact of climate change, when they knew it, and what they did with that information. (Kyle Bakx/CBC)
How much did the oil industry know about the impact of fossil fuel emissions on the climate? When did they know it? And what did they do with that knowledge?
Those are the central questions in a series of court cases attempting to hold companies accountable for their role in climate change.
It’s been called Big Oil’s “Big Tobacco” moment, echoing the famous litigation that exposed how tobacco companies deliberately generated scientific uncertainty even though they knew that cigarettes cause cancer.
GRONINGEN, the Netherlands — Driving through fields of low-lying Dutch farmland you pass an occasional odd cluster of silvery pipes and tanks. They are the only visible sign that deep below this northeast corner of the Netherlands is one of the world’s largest natural gas fields.
Unless you stop by one of the nearby farmhouses weakened by earthquakes linked to gas extraction. At her handsome home in the village of Appingedam, Nicole van Eijkern pointed to sagging external walls and cracked ceilings. Heavy beams buttress her house, inside and out, and it is scheduled to be torn down.
Oil lobby’s reach into EU politics – The five biggest oil and gas companies – BP, Shell, Chevron, ExxonMobil and Total – and their industry groups have spent at least €251m (£217m) lobbying the EU over climate policies since 2010. Researchers say the figure represents the tip of the iceberg, as in some years companies made no declarations of spending in the voluntary EU transparency register. Pascoe Sabido, researcher at Corporate Europe Observatory, said the oil and gas lobby had “delayed, weakened and sabotaged EU action on the climate emergency thanks to their hefty lobby spending. A cool quarter of a billion over the last decade buys a lot of access and influence in Brussels.”
Oct. 22 (UPI) — The Supreme Court on Tuesday declined to stay the city of Baltimore’s lawsuit against a group of oil companies it accuses of contributing to climate change.
The high court’s decision clears the way for the U.S. 4th Circuit Court of Appeals to determine whether the case should proceed in state court. The oil companies — including BP, Chevron, ExxonMobil and Royal Dutch Shell — requested the stay, seeking to have various state-level lawsuits moved into federal court to eliminate the “costs and burdens of duplicative litigation.”
The group of companies includes BP, Chevron, ExxonMobil and Royal Dutch Shell.
Message sent to all members of the Guardian newspaperThis week we are running a powerful new series called The polluters, in which The Guardian’s team of environmental journalists around the world have investigated the impact of the fossil fuel industry — as well as the structures behind it — which are driving the climate emergency.
The reporting reveals the 20 fossil fuel companies whose relentless exploitation of the world’s oil, gas and coal reserves can be directly linked to more than one-third of all greenhouse gas emissions in the modern era. In a video explainer, the Guardian’s global environment editor, Jonathan Watts, details how these firms have continued to expand their operations despite being aware of the industry’s devastating impact on the planet since at least the 1950s, and this excellent timeline shows the shocking levels of denial.
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.
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
John Donovan, the website owner
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