The Telegraph

Shell and BP should plough every spare penny back into the North Sea

Oil giants should be putting every spare penny into the North Sea, alongside green energy projects, instead of shareholder windfalls

BEN MARLOW: CHIEF CITY COMMENTATOR: 6 May 2022

“Another day, another oil and gas company making billions in profits,” decried Ed Miliband after Shell’s latest profit gusher. Yes, and another predictable call for a windfall tax from opposition politicians desperate to win votes.

As bandwagons go, there have been plenty of opportunists keen to clamber aboard this one, in a week when local elections are taking place up and down the country.

Still, Shell and BP only have themselves to blame. It’s not that a windfall tax is necessarily justified. It isn’t. Ironically, by neglecting Britain’s energy security, a succession of short-sighted political figures, including some of those now bleating about the injustice of today’s profiteering, have probably done more to help create the current energy crisis than the industry itself. read more

Reuters

Shell filed appeal against landmark Dutch climate ruling

March 29, 20225:28 PM GMT+1 Last Updated a day ago

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

English translation of extracts from a Forbes article published in German on 1st March 2022. 

FORBES

CAN SHELL GREEN?

In the public perception, Shell is an industrial giant – now Fabian Ziegler, Chairman of the Management Board of Deutsche Shell Holding GmbH since spring 2020, wants to make the company greener.

Will the Swiss succeed in pulling off the coup so vital to the group’s survival?

Text: Matthias Lauerer
Photo: Deutsche Shell Holding GmbH

1st March 2022

Is Shell on its way to a carbon-neutral future? Will this be a reimagined world, where green hydrogen, e-mobility and decarbonization have become a reality? Or do they prefer to greenwash to perpetuate the dirty old business model on which the global economy hangs? read more

The Telegraph

Shell defends raising the dividend after profits surge to almost $20bn

Bumper results trigger renewed calls for a windfall tax on oil and gas producers

By Rachel Millard: 3 February 2022 • 7:41pm

The chief executive of Shell has defended his company’s right to pay millions in dividends after a fourfold rise in profits driven by surging energy costs sparked calls for a windfall tax.

Ben van Beurden said the FTSE 100 company played an important role in society by contributing to pension pots after it posted a $19.3bn (£14.2bn) profit for 2021, up from $4.8bn a year earlier. read more

S&P Global

Platts

Shell cancels seismic work offshore South Africa after legal challenge

• AuthorEklavya Gupte 
• Editor Daniel Lalor
• 05 Jan 2022 | 15:20 UTC

Shell has suspended seismic exploration activity off South Africa’s east coast, terminating a contract for the Amazon Warrior survey vessel after a High Court ordered it to pause work after a legal challenge by environmental groups.

“As legal hearings about the survey are not yet completed and the weather window for conducting the work is limited, Shell has decided to terminate the current contract for the survey vessel early, in agreement with the contractor,” a Shell spokesperson told S&P Global Platts Jan. 5. read more

One of Shell’s Amazon carbon offsets projects raises serious human rights concerns

Indigenous peoples claim and reportedly live in different parts of the Cordillera Azul National Park

David Hill Dec 15

The last six months or so have been uncharacteristically bruising for oil and gas company Royal Dutch Shell, at least as far as its public profile is concerned. Not only did a court in The Netherlands rule in May that it must cut its global carbon emissions by 45% by the end of 2030 compared with 2019 levels, but then in August the Dutch advertising watchdog concluded that the company should abandon its campaign promoting “carbon neutral” driving. In late October the UK’s Channel 4 broadcast “Joe Lycett vs the Oil Giant”, which included the British comedian impersonating Shell’s CEO Ben van Beurden and defecating out of his mouth, and then the very next day journalists from SourceMaterial, Greenpeace’s Unearthed team and Bloomberg published investigations into the “Drive Carbon Neutral” campaign. read more

Mail&Guardian

Shell seismic ops: ‘Our ancestors’ blood was spilt protecting the land and sea’

This is detailed in the second legal challenge mounted against the petroleum giant’s planned 3D seismic survey to explore for hydrocarbon reserves beneath the seabed between Morgan Bay and Port St Johns in the Eastern Cape.

The applicants have asked the court to halt Shell’s seismic blasting pending the outcome of their challenge of Shell’s assertion that it is legally entitled to commence with the operations. Not only will the seismic survey be harmful, they argue, it is unlawful, because Shell does not have an environmental authorisation to conduct the exploration right in terms of the National Environmental Management Act (Nema). read more

BBC NEWS

Cambo: Jobs warning as Shell pulls out of oil field development

Business leaders have warned that thousands of oil and gas jobs could be at risk in the UK after Shell pulled out of the Cambo oil field development.

• Located in the North Atlantic, about 125km (75 miles) north west of the Shetland islands.
• Major stakeholder is Siccar Point Energy, with a 70% stake, backed by private equity firm investors.
• Siccar Point Energy says Cambo could deliver 170 million barrels of oil over 25 years, and 53.5 billion cubic feet of gas.
• The exploration licences dates back to 2001, but UK government must approve drilling – which could start as early as 2022.

Aberdeen’s Chamber of Commerce said a “premature” end to domestic production could see some areas suffer the fate of mining communities in the 1980s.

Environmentalists say new fossil fuel projects like Cambo are incompatible with action on climate change.

Cambo’s majority stakeholder said it still planned to take it forward. read more

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.

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

The Telegraph

Activists hail North Sea oil ‘death blow’ as Shell walks away

Oil giant has pulled out of the Cambo field amid lack of support from UK and Scottish governments

By Rachel Millard; Oliver Gill and Matt Oliver 2 December 2021

A major North Sea oil project which it was claimed would help secure UK energy supplies has been plunged into crisis after Shell pulled out citing doubts about its viability, amid a lack of political support in Westminster and Holyrood.

The Cambo oil field off the Shetland Islands was set to create an estimated 1,000 jobs and produce more than 170m barrels of oil equivalent in a boost to the UK’s oil and gas industry even as it moves towards greener energy. read more

Mail&Guardian

Shell’s seismic survey will cause ‘irreparable harm’ to sea life, including migrating whales along the Wild Coast in December

Avirtual court sitting in Makhanda has heard arguments between oil giant Shell and a group of environmental and human rights organisations opposed to its plans to explore the ecologically sensitive Wild Coast for oil and gas.

On Monday night, the Border Deep Sea Angling Association, Kei Mouth Ski Boat Club, Natural Justice and Greenpeace Africa applied for an urgent interim interdict to stop Shell from embarking on its 3D seismic survey between Morgan Bay and Port St Johns, which was scheduled to start on Wednesday. read more

The Guardian

Pulling the switch: how to find a new clean energy provider in Australia

With the sale of electricity provider Powershop to Shell, many customers drawn to good climate credentials are pondering their options

Rafqa Touma: Tue 30 Nov 2021 23.00 GMT

Since multinational energy giant Royal Dutch Shell expanded into Australia’s residential electricity market by purchasing our greenest power company, Powershop Australia, many of Powershop’s 185,000 customers have apparently considered jumping ship. read more

London Evening Standard

BP and Shell: Big Oil risks big embarrassment as profits roll in during COP26

The timing was impeccable: as 30,000 COP26 delegates listened to UN Secretary-General António Guterres warn that “our addiction to fossil fuels is pushing humanity to the brink… either we stop it — or it stops us,” BP hurled billions of dollars at its investors via its third-quarter results.

The oil major pledged to return another $2.25 billion via buybacks and dividends this week thanks to Brent oil trading at $85 dollars a barrel, its highest since 2014. Boss Bernard Looney admitted BP was “a cash machine at these types of prices.” read more

Greenpeace boats block Dutch Shell refinery

Dozens of Greenpeace activists blocked a Shell oil refinery in the Dutch port of Rotterdam with boats on Monday to protest against advertising for fossil fuels.

The environmental group’s activists used a sailboat, kayaks and dinghies to block the entrance to the refinery.

Dutch police later arrested 22 activists and expelled a group of protesters who had climbed onto an oil tank and raised slogans.

Greenpeace and 20 other groups have launched a petition asking the European Union to ban advertising and sponsorship by fossil fuel companies. read more

Image Credit: KICKBACK NEWS

By John Donovan

KickBack.news, the anti-corruption website recently founded by Javier Ferrandis has published a remarkable article under the headline:

DONOVAN vs. SHELL: A 30 Years Epic battle against a corporate giant.

Extract

Disgruntled employees, interested in learning about or airing the dirty laundry of the Shell Group, or journalists, who want to find out what’s up at one of the largest corporations in the world, know that you have to start your search by simply typing royaldutchshellplc.com on your browser. read more

OILPRICE.COM

U.S. Utilities Could Face Slew Of Climate Lawsuits

By Leonard Hyman & William Tilles – Aug 16, 2021, 4:00 AM CDT

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