Royal Dutch Shell Plc  .com Rotating Header Image

Posts under ‘Fossil Fuels’

Shell loyalty scheme ad deemed misleading

Shell loyalty scheme ad deemed misleading

News Writer , Essential Retail: Email Ben | Follow @BSillitoe

Energy company Shell has been issued with a warning by the Advertising Standards Authority (ASA) about broadcasting misleading ads.

A radio advert heard in January 2020 relating to the Shell Go+ loyalty scheme must not appear again in the same form, and Shell UK was told it must make it clear claims of carbon offsetting were contingent on membership of a loyalty scheme. Some 17 complainants challenged the ad commentary, “Drive carbon-neutral by filling up and using Shell Go+ today. Make the change. Drive carbon-neutral”.

Shell Go+ is a loyalty scheme to which consumers are required to sign-up and then show their membership card when they make a purchase. In those circumstances the carbon emissions related to that fuel purchase are offset by Shell, but the ASA said there was nothing in the ad suggesting the commentary was related to a loyalty scheme. 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.

Big Oil’s Investment Risk Is Spiking

Big Oil’s Investment Risk Is Spiking

By David Messler – Jul 07, 2020, 5:00 PM CDT

The major integrated oil companies: Shell,(NYSE:RDS.A, RDS.B); ExxonMobil, (NYSE:XOM); BP, (NYSE:BP); Chevron, (NYSE:CVX), and a few others, so named for their vertical stewardship of the hydrocarbon molecule from initial extraction to final refining, have come under increasingly accurate fire from climate change advocates. In the past organizations like Greenpeace and a host of other conservation organizations, have used direct measures to interdict oil company operations. Measures that were flashy, as they drew a lot of attention from the global press, but over the long haul did little to achieve their goals of stopping oil and gas exploration. 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.

Remainers proved wrong as Shell boss hints at switching HQ from Netherlands to London

Remainers proved wrong as Shell boss hints at switching HQ from Netherlands to London

OIL giant Royal Dutch Shell could relocate its headquarters from the Netherlands to the UK in a post-Brexit boost for the country.

By JOE BARNES, BRUSSELS CORRESPONDENT   Ben van Beurden, Shell’s chief executive, hinted the company is seeking to simplify its complex capital structures. The potential move would be considered a significant victory for Britain in the months after quitting the European Union. Just last month Unilever, the Anglo-Dutch consumer goods group, revealed it would merge its British and Dutch holding companies into one based in London.

Asked whether Shell could replicate Unilever, Mr van Beurden told Dutch newspaper Het Financieele Dagblad: “One always needs to keep thinking.

“Nothing is permanent and, of course, we take the investment climate into account.

“But moving your HQ is not a trivial measure, one should not be too easy about that.”

The oil giant is one of the largest listed companies in the UK, with a market capitalisation of £100 billion and more than 80,000 employees around 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.

SHELL CEO: I don’t want to survive this pandemic with a company that is no longer capable of anything

English translation of an article published today by the FD.

“I don’t want to survive this pandemic with a company that is no longer capable of anything”

Bert van Dijk

The corona crisis is forcing Shell to restructure the company. At the same time, CEO Ben van Beurden must chart the course for a low-carbon future. What choices does he make and why can’t things go a bit faster? “We cannot organize ourselves anti-economically. We don’t have that mandate.”

Ceo Ben van Beurden leads Shell from home during the corona crisis. ‘The good thing about this period is that you can help with homework.’ Photo: David van Dam for FD

In brief

  • Shell CEO Ben van Beurden has to guide the oil and gas multinational through various storms.
  • In a long conversation with the FD, he explains why he couldn’t help but decrease the dividend.
  • He also outlines the dilemma of developing new revenue models, while the old revenue model cannot be immediately discarded.

Last week, Shell CEO Ben van Beurden reduced the value of Shell’s assets by nearly $ 20 billion last week. The massive write-off is necessary because the corona pandemic has hit the global demand for oil and gas heavily and uncertainty about the future has increased. 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 battles are moving into the courtroom, and lawyers are getting creative

Reuters: Reporting by Matthew Green in London, Valerie Volcovici in Washington and Emma Farge in Geneva; Editing by Katy Daigle and Lisa Shumaker: JULY 3, 2020

LONDON/WASHINGTON/GENEVA (Reuters) – Climate change may be having its day in court.

With the slow pace of international climate negotiations, lawyers from Switzerland to San Francisco are increasingly filing lawsuits demanding action.

And they are getting creative — using new legal arguments to challenge companies and governments before a judge. 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 warns of $22 billion hit from coronavirus price slump

London (CNN Business)Royal Dutch Shell is writing down the value of its assets by as much as $22 billion as lower oil prices push the Anglo-Dutch company to accelerate a shift away from fossil fuels.

Shell (RDSA) slashed its outlook for energy prices Tuesday, saying in a statement that it expects Brent crude to cost $40 per barrel in 2021 and $50 per barrel in 2022. Prices are forecast to rise to $60 per barrel in 2023.

The company said the changes to its price forecast reflect the economic trauma caused by the coronavirus pandemic, which has plunged countries around the world into recession and sharply reduced demand for energy. 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 to Write Down Up to $22 Billion as Virus Hits Big Oil

Laura Hurst: Bloomberg

(Bloomberg) — Royal Dutch Shell Plc will write down between $15 billion and $22 billion in the second quarter, as the company gave investors a wider glimpse of just how severely the coronavirus crisis has hit Big Oil.

The pandemic left no part of the energy giant’s sprawling business unscathed. Oil production slowed, fuel sales fell and shipments of everything from liquefied natural gas to petrochemicals suffered.

The dire second quarter also threatened to have a lasting legacy, as reductions in long-term price forecasts will force writedowns on the value of assets all over the world, with its integrated gas business taking the biggest hit. 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 to write down as much as $22 bln after coronavirus hit

Reuters: Ron Bousso: June 30, 2020: 4:43 AM EDT

LONDON — Royal Dutch Shell said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened the energy price outlook.

The Anglo-Dutch company has already been preparing a major overhaul after CEO Ben van Beurden laid out plans in April to reduce Shell’s greenhouse gas emissions to net zero by 2050.

Global travel restrictions to prevent the virus spreading affected more than 4 billion people at one point, taking cars off the roads and grounding planes, driving down fuel demand. 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.

District of Columbia sues four oil majors for misleading consumers on climate change

Reporting by Valerie Volcovici; Editing by Marguerita Choy: JUNE 25, 2020

WASHINGTON (Reuters) – The attorney general for the District of Columbia on Thursday filed a lawsuit against Exxon Mobil Corp , BP Plc, Chevron Corp, and Royal Dutch Shell Plc for “systematically and intentionally misleading” consumers about the role their products play in causing climate change, the latest action by a U.S. attorney general against the oil and gas industry.

The lawsuit brought by Attorney General Karl Racine comes a day after Minnesota AG Keith Ellison filed a lawsuit against the American Petroleum Institute, Exxon Mobil and Koch Industries for violating state laws barring consumer fraud, deceptive trade practices and false advertising. 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 Joins Other Oil Majors In Energy Transition Push

Oil supermajor Shell plans to announce by the end of the year a significant restructuring to reflect its net-zero emissions goal for 2050 and to align itself with a green recovery from the pandemic, a Shell source told Reuters on Tuesday.

Shell’s chief executive Ben van Beurden has told employees in an internal website video that there would be restructuring and job cuts, sources who saw the video told Reuters.

Shell’s official website has posted a video message from van Beurden, who says that “[S]ociety must remain focused on the longer-term challenge of climate change. Because it hasn’t gone away. It still needs urgent action. Shell has a big part to play.” 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’s $12 Billion LNG Experiment Becomes A Big Headache

A series of recent events highlight the challenge Shell has ahead of it with Prelude, and plans for sister vessels which are supposed to follow.

Tim Treadgold Asia: June 23, 2020

The world’s biggest ship is on the way to becoming one of the oil industry’s biggest bloopers.

Prelude, a 600,000-ton monster which is five-times the size of the largest U.S. aircraft carrier, is designed to produce liquefied natural gas (LNG), and other petroleum liquids.

Installed atop a remote gasfield 300 miles off the north-west Australian coast, the 535-yard long Prelude is a bold experiment by the oil major, Royal Dutch Shell. 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 plans major overhaul around climate drive, CEO tells employees

“Over the coming months we will go through a comprehensive review of the company. Where appropriate we will redesign our organization to adapt to a different future…”

Reuters: Ron Bousso and Shariq Khan: June 23, 2020 9:45 AM EDT

LONDON — Royal Dutch Shell will announce a major restructuring by the end of the year as the energy company prepares to accelerate its shift towards low-carbon, CEO Ben van Beurden told employees according to a company source.

In a video interview published on Shell’s internal website, van Beurden said that the restructuring would involve job cuts as part of broad cost reductions, although no figures have been decided yet, according to sources who saw the interview. 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.

After BP takes a hit, investors widen climate change campaign

Reuters: Matthew Green and Simon Jessop: June 22, 2020

LONDON — Investors managing £1.8 trillion ($2.2 trillion) in assets are widening a campaign pressing oil majors to better reflect climate risks in their accounting, and will soon target other businesses with heavy fossil fuel exposure, the group said on Monday.

The investors believe their campaign is working, noting the “hugely important” news of BP joining other oil majors in lowering the value of its assets amid a global transition to cleaner energy, said Natasha Landell-Mills, head of stewardship at asset manager Sarasin & Partners. 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.

Even the oil giants can now foresee the end of the gasoline age

The fall in fuel use during the pandemic has caused Shell and BP to fundamentally reappraise their future profitability Sun 21 Jun 2020

Coronavirus has dealt the fossil-fuel industry the biggest single blow in its history, and it is clear that 2020’s plummeting demand for oil and gas is no mere flesh wound. The global Covid-19 crisis may have already triggered a terminal decline for big oil.

BP’s decision last week to reset its oil price forecasts for the next three decades was the latest tremor in a seismic shift for the industry. Its forecasts of a $75-a-barrel oil price over the next 30 years were scrapped in favour of an average price of $55. The watershed decision wiped more than $17bn from the value of its business at a stroke 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.

OilPrice.com: A Nightmare Scenario For Offshore Oil

A Nightmare Scenario For Offshore Oil

Editorial Dept: Oilprice.com: May 31, 2020

Between low demand, soaring inventories, depressed prices, a global pandemic, and now, hurricane season, it seems a perfect storm is forming around the offshore oil industry.

The world’s offshore oil market, responsible for 30 percent of all the world’s oil production, is facing an impossible set of challenges. With oil sitting at half the price of its yearly high, and doubts forming around the future of demand, in addition to the ongoing COVID-19 pandemic wreaking havoc on the global economy, companies are struggling to rein in capital spending and are beginning to rethink the future of key projects. 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.

Zacks: Climate Crusaders vs. Big Oil: Who Will Win the Legal Row?

Zacks Equity Research: Zacks:May 29, 2020

The U.S. Court of Appeals for the Ninth Circuit rejected the petition of oil supermajors and ruled that state courts are more suitable to impartially adjudicate climate change lawsuits against oil and gas companies instead of federal venues that are suspected to be bias to the energy industry.

The lawsuits, filed by the cities of San Francisco and Oakland, hold five Big Oil majors, namely ExxonMobil XOM, Chevron CVX, ConocoPhillips COP, BP plc BP and Royal Dutch Shell RDS.A accountable for misleading the public by wrongly promoting their work to be environmentally friendly when in reality, they were aware of their hazardous contribution to climate change. By alleging the companies to be financially responsible for this menace, they demand the oil giants to cough up billions for the damages caused due to intensified carbon footprint and help construct a protective infrastructure to prevent the rise in sea-level and other problems cropping up from global warming. 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.
%d bloggers like this: