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Posts under ‘Friends of the Earth’

Energy giants Shell and Centrica enjoy soaring profits as prices rise

skynews

Energy giants Shell and Centrica enjoy soaring profits as prices rise

Shell attributed its enormous numbers to higher prices, refining profits, and gas trading.

Shell has reported record profits of $11.5bn (£9.4bn) for the second quarter, more than double last year’s figure of $5.5bn (£4.5bn).

The oil giant had already smashed its own quarterly record at the start of the year when it clocked up profits of $9.1bn (£7.2bn), but the sums continued to rise into Q2. 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, Shell May Pursue Part of $1.8 Billion Nigerian Award–US Appeals Court

REUTERS

Exxon, Shell May Pursue Part of $1.8 Billion Nigerian Award–US Appeals Court

By

By Jonathan Stempel

NEW YORK (Reuters) – A U.S. appeals court on Friday said Exxon Mobil Corp and Royal Dutch Shell Plc affiliates may try to enforce part of a $1.8 billion arbitration award against Nigeria’s state-run oil company, in a dispute concerning oil extraction near the African country’s coastline.

It said the judge should have determined which parts of the award had been deemed enforceable by a Nigerian appeals court. Lawyers for the companies did not immediately respond to requests for comment. 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 Climate Case to Return to Focus at Annual Shareholder Meeting

Bloomberg

Shell Climate Case to Return to Focus at Annual Shareholder Meeting

Laura HurstBloomberg News

(Bloomberg) — Climate issues are set to take center stage at Shell Plc’s annual general meeting on Tuesday, with a key group saying the energy giant isn’t abiding by a landmark court order requiring it to cut emissions by 45% by 2030.  

Milieudefensie, the Dutch arm of Friends of the Earth, says Shell’s plans around customer-related emissions — which make up the bulk of its pollution — aren’t in line with last year’s judgment. The group originally brought the case against the company.

“The judge’s verdict is clear and necessary: Shell must stop causing dangerous climate change,” said campaign spokesperson Nine de Pater, who plans to attend the meeting in London as a proxy shareholder.  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.

Clifford Chance to handle Shell’s appeal against sensational defeat in the Milieudefensie case

Clifford Chance to handle Shell’s appeal against sensational defeat in the Milieudefensie case

The following are translated extracts from an article published on 19 May 2022 by the Dutch financial newspaper, the fd.

By Martijn Pols and Joris Polman.

Oil company Shell has set aside house lawyer De Brauw Blackstone Westbroek after the sensational defeat against Milieudefensie. Exactly one year ago, the judge forced Shell to tighten up its climate policy.

Shell appealed but had no confidence in a good outcome with De Brauw by its side. Lawyers for British Clifford Chance can now make another attempt. 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.

Friends of the Earth warns Shell directors they face personal liability if energy firm doesn’t clean up its act

Daily Mail

Friends of the Earth warns Shell directors they face personal liability if energy firm doesn’t clean up its act

Shell directors risk ‘personal liability’ if they fail to boost the energy giant’s green credentials, an environmental group has claimed.

The threat to senior figures, including chief executive Ben van Beurden, was made in a recent letter from Friends of the Earth’s Netherlands branch, Milieudefensie. 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 board ‘could be liable’ for failing to tackle CO2: Milieudefensie

DutchNews.nl

Shell board ‘could be liable’ for failing to tackle CO2: Milieudefensie

April 25, 2022

Environmental campaign group Milieudefensie has written to the members of the board at Shell warning them they could be held liable for failing to take action to reduce greenhouse gas emissions despite being ordered by judges to do so last year.

Last May, a court in The Hague said that Shell must play its part in the fight against dangerous climate change and ‘reduce the carbon dioxide emitted by the Shell group and its customers by 45% net by the end of 2030, compared with the level in 2019.’ 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 filed appeal against landmark Dutch climate ruling

Reuters

Shell filed appeal against landmark Dutch climate ruling

LONDON, March 29 (Reuters) – Energy major Shell (SHEL.L) has filed its appeal against a Dutch court ruling that ordered the oil, gas and fuel producer to cut its emissions faster in a landmark win for activists turning to courts to force climate action.

While Shell had set itself a target to reach net zero carbon neutrality by 2050, its intermediate targets were based on emissions intensity, which could in theory allow the group to increase fossil fuel output. read 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.

Milieudefensie: appeal from Shell climate case at the earliest in 2023

NETHERLAND NEWSLIVE

Milieudefensie: appeal from Shell climate case at the earliest in 2023

eddieanderson: 1 Feb 2022

Shell and Milieudefensie will face each other again in court in the spring of 2023 at the earliest. When exactly, will become clear in November of this year, Milieudefensie reports. The organization has discussed the planning with Shell’s lawyers and published the planning for the appeal in the climate case. This shows that the first step towards handling the case will be taken at the end of March. Shell may then explain on paper what objections it has against the court’s decision. 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 CEO Ben Van Beurden: Carbon emissions court ruling was ‘body blow’

London Evening Standard

Shell CEO Ben Van Beurden: Carbon emissions court ruling was ‘body blow’

By Simon Freeman: 20 Jan 2022
ROYAL DUTCH SHELL’s CEO Ben van Beurden today described a court ruling from The Hague ordering faster, deeper cuts to the company’s carbon emissions as a “body blow”.

In comments likely to provoke controversy among green activists, he said: “I was listening at home as the judge gave her verdict. It felt like a body blow.

“I found it deeply troubling that Shell as a single business should be held accountable for how the world produces and uses energy.” 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.

Activists behind Shell climate verdict target 30 multinationals

The Great Reboot

Reuters

Activists behind Shell climate verdict target 30 multinationals

By  and 

AMSTERDAM/LONDON, Jan 13 (Reuters) – The Dutch wing of environmental group Friends of the Earth, which won a landmark court victory against Royal Dutch Shell (RDSa.L) last year, is targeting 30 major corporate emitters in a campaign launched on Thursday.

Milieudefensie has set its sights on large companies with legal bases in the Netherlands, where a court ruled in May that Shell must reduce its environmental footprint. read 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.

Shell’s decision to abandon Cambo oil field does nothing to aid the transition to green energy

sky news

Shell’s decision to abandon Cambo oil field does nothing to aid the transition to green energy

Sky’s Ian King argues that environmental campaigners and other critics have scored an own goal by opposing the project and will only force us to buy in more energy from abroad.

: Business presenter : Friday 3 December 2021 

Shell’s decision not to proceed with its interest in the Cambo oil field may not necessarily be the triumph for environmental campaigners that they seem to think.

It does not, for example, guarantee that Cambo’s oil – some 170 million barrels worth over 25 years – will stay in the ground. 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 moves its HQ to London from the Netherlands and plans to scrap ‘Royal Dutch’ from its name

Minister hails ‘vote of confidence’ for Brexit Britain as Shell moves its HQ to London from the Netherlands and plans to scrap ‘Royal Dutch’ from its name

  • Kwasi Kwarteng said decision – subject to a vote – would ‘create jobs’ in Britain
  • Board meetings and senior executives will move to London in boost for capital 
  • Decision follows lawsuit by climate activists to force Shell to slash emissions 

Oil giant Shell today announced it will move its headquarters and tax residence to the UK and drop ‘Royal Dutch’ from its name for the first time in 130 years.

The decision was hailed as a ‘clear vote of confidence in the British economy that will ‘create jobs’ by business secretary Kwasi Kwarteng. The firm pays hundreds of millions of pounds worth of taxes every year, which will now go to the Treasury. 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 wants to move headquarters amid cleaner energy shift

The Washington Post

Shell wants to move headquarters amid cleaner energy shift

By Associated Press: Today at 6:58 a.m. EST LONDON — Royal Dutch Shell proposed moving its headquarters from the Netherlands to the United Kingdom and streamlining its structure Monday in hopes of making it easier to move forward in a world transitioning away from a dependence on fossil fuels.

The company, which has been incorporated in the U.K. with Dutch tax residency and dual class shares since 2005, said it wanted to move to a more conventional structure to be able to make the company more competitive as it seeks to meet the challenges of shifting toward cleaner energy.

Dutch officials said they were “unpleasantly surprised” by the move.

“The government deeply regrets that Shell wants to move its head office to the United Kingdom,” Dutch Economic Affairs and Climate Minister Stef Blok said. “We are in talks with the top of Shell about the implications of this move for jobs, critical investment decisions and sustainability.” 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 and Big Oil were first. The next wave of climate lawsuits will target banks and boards

CNBC

Governments and Big Oil were first. The next wave of climate lawsuits will target banks and boards

Sam [email protected] :PUBLISHED THU, NOV 11 20212:26 AM EST

GLASGOW, Scotland — Financial institutions and individual board members could be the next targets of climate litigation cases, according to the campaigners who helped to secure a landmark courtroom victory against oil giant Royal Dutch Shell.

It comes at a time when countries are scrambling to reach consensus in the final days of the COP26 climate summit. Negotiators from 197 countries are taking part in discussions with the goal of keeping the all-important global target of 1.5 degrees Celsius alive. 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.

Can a ‘toxic’ business (Shell) really turn from sinner to saint?

FROM A MAJOR ARTICLE ON TWO-THIRDS OF PAGE 8 OF THE SUNDAY TIMES BUSINESS SECTION OCT 31, 2021

How should Shell, Glencore and British American Tobacco deal with their “toxic” legacy businesses?

Robert Watts: Sunday October 31 2021, 12.01am, The Sunday Times

Ben Van Beurden knew last weekend that he was facing one of the more trying weeks of his 38 years at Shell. But he still had no clue of the impending ambush being prepared by an American billionaire activist investor.

Shell’s chief executive knew the quarterly figures for the oil and gas giant he would unveil on Thursday would be bad. Profits between July and September came in at $4.1 billion (£3 billion) — well below the $5.4 billion expected and 25 per cent down on the previous quarter. 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.

U.S. Utilities Could Face Slew Of Climate Lawsuits

OILPRICE.COM

U.S. Utilities Could Face Slew Of Climate Lawsuits

Several years ago, a major US electric utility, wrote in its 10-K , a document filed annually with federal securities regulators, that it could not “currently estimate the financial impact of climate policies… or litigation alleging …” damages, but admitted they could require “material capital…” (FirstEnergy, 2018 10-K. Fast forward to the 2020 document, FirstEnergy said it could not predict “timing and ultimate outcome..” of environmental actions. Not much progress.) Was that cautionary verbiage a hint? (Not being forthcoming in documents like the 10-K carries significant legal penalties, so take it seriously.) 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.