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Posts under ‘Houston Chronicle’

D.C. sues Exxon, BP, Shell, Chevron over climate

WASHINGTON – The District of Columbia sued Exxon Mobil and other large oil companies Thursday over their contribution to climate change, adding the nation’s capitol to a growing list of states seeking to punish the oil sector for its history of climate denial.

At a time large oil companies are increasingly vocal about the need to address climate change, the suit tackles a long period when despite warnings from their own scientists oil executives openly questioned claims greenhouse gas emissions from fossil fuels were warming the planet. 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.

Coronavirus pandemic has brought into sharp relief the existential threat posed to the world’s biggest oil companies

The coronavirus pandemic has brought into sharp relief the existential threat posed to the world’s biggest oil companies from policies aimed at combating climate change by offering a glimpse into a future with little demand for petroleum products such as gasoline, diesel and jet fuel.

It has also brought to the fore a question with profound implications for the energy industry and Houston, where fortunes rise and fall with the price of oil. Has the virus — in two short but life-altering months — fundamentally changed society and consumer behavior, making it likely that global oil demand would peak earlier than expected, perhaps even during this decade? 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.

Bloomberg: Shell Plans Voluntary Job Losses to Mitigate Oil Slump

Shell hoping voluntary severances will help weather oil crisis

Royal Dutch Shell will use measures including voluntary severance for staff to bolster its finances as the coronavirus pandemic batters profits, according to people with knowledge of the matter.In a note to staff, Chief Executive Officer Ben van Beurden wrote that the organization was being reshaped to make it leaner and more resilient, the people said. The company has already slashed spending and surprised investors with a two-thirds cut to its dividend.

Shell isn’t the only company making big changes to withstand the unprecedented oil-industry disruption caused by Covid-19. Most of its peers have made big spending reductions, while Norway’s Equinor ASA also cut its dividend.

BP Plc promised its employees their jobs were safe at least until the end of June, but companies including Chevron Corp., Marathon Oil Corp. and Halliburton Corp. are laying off employees. 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.

Energy companies slash another $19 billion as oil price remain near 20-year lows

Photo of Sergio Chapa March 24, 2020 Updated: March 24, 2020 7:02 a.m.

Eleven energy companies over the past several days said they would cut a combined $18.6 billion dollars from their budgets as oil prices remain near 20-year lows, setting the stage for tens of thousands additional layoffs.

West Texas Intermediate crude closed at $23.36 per barrel Monday, a price not seen since March 2002 as Russia and Saudi Arabia flood global markets and the coronavirus pandemic crushes demand.

Energy companies big and small — including Conoco Phillips, Exxon Mobil, Marathon Oil, Hess and Halliburton — have responded by slashing spending for new projects and operations, halting stock buy back programs, putting deals on hold and selling assets. 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.

HOUSTON CHRONICLE: High levels of cancer-causing benzene found near 6 Texas refineries, report shows

In the fall of 2018, a leak at a Pasadena oil refinery led to the release of thousands of pounds of toxic pollutants, including some 8,000 pounds of cancer-causing benzene.

During that nearly 67-day stretch, the Pasadena Refining System reported its highest two-week average concentration of benzene from one of its fence-line monitors — a level that was 6.5 times above a federal guideline for short-term exposure.

The Pasadena refinery is one of 10 across the country that exceeded the Environmental Protection Agency’s action level for benzene as of Sept. 30, according to an analysis released Thursday by the nonprofit Environmental Integrity Project. Six of them are in Texas, including three in the Houston area. 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.

Houston Chronicle: Climate change also poses a threat to oil’s exploration budgets, report finds

The growing threat of climate change and the evolving transition toward cleaner energy alternatives are threatening spending on traditional oil and gas exploration worldwide, according to a new report.

The largest energy companies are reducing exploration budgets and facing more pressure from shareholders to conduct more exploratory drilling around the world, even amid growing reserves of oil and gas, according to energy research firm Wood Mackenzie. 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.

Chron: ‘A sector in disarray’: Oil majors live beyond their means on investor payouts, study finds

“Investors are gradually moving away from energy stocks. A look behind the dividend payments of the leading companies helps explain why. For the core business of these companies, there is more money going out than coming in.” 

The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report.

The study from the Cleveland-based Institute for Energy Economics and Financial Analysis found that the five largest Big Oil majors — Exxon Mobil, Chevron, Royal Dutch Shell, BP and Total — spent $536 billion on shareholder dividends and stock buybacks since 2010 while bringing in just $329 billion in free cash flow. 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.

Houston Chronicle: Chemical makers launch projects to tackle plastic waste

Atlanta-based Nexus Fuels is turning hard to recycle plastic waste into liquid feedstock for Royal Dutch Shell to manufacture new plastics.

The world’s rapidly mounting plastic waste and the public reaction to its impact on marine and wildlife is challenging the booming petrochemical industry, but the world’s biggest energy companies are increasingly stepping up with new projects to take on these challenges.

Royal Dutch Shell, BP and Houston’s LyondellBasell have all announced new projects or pilot plants in recent weeks to address recycling plastics that are the hardest to transform back into reusable materials. The latest came from Shell, which has begun making petrochemicals from plastic waste in a process known as chemical recycling. 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 change lawsuits ask whether fossil fuel companies are responsible

Photo of Chris Tomlinson Nov. 4, 2019

Just 20 energy companies account for one-third of greenhouse emissions since 1965, according to a new study.

The Climate Accountability Institute’s Richard Heede tallied up all the fossil fuels extracted by every company through 2017 and calculated the emissions. The data is public, the math is straightforward and the emissions are indisputable.

The top 10 companies, in order, are, predictably, Saudi Aramco, Chevron, Gazprom, Exxon Mobil, National Iranian Oil Co., BP, Royal Dutch Shell, Coal India and PEMEX. More details are available online at http://climateaccountability.org/carbonmajors.html. 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.

USA legislation targeting Russian Nord Stream 2 project pipeline moves ahead

Investors include Royal Dutch Shell, which maintains a U.S. headquarters in Houston, and four other European energy firms.

Cruz legislation targeting Russian pipeline moves ahead

Greenpeace image relating to Shell/Russia Arctic Drilling Plans

WASHINGTON – Legislation sanctioning construction companies that help complete a controversial Russian pipeline delivering natural gas to Europe cleared a critical legislative hurdle Wednesday.

The Senate Foreign Relations Committee approved the bill, sponsored by Sen. Ted Cruz, R-Texas, and Sen. Jeanne Shaheen, D-N.H., who described the legislation as critical to limiting Russian influence in Europe at a time Moscow is working to interfere in elections there and in the United States. 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.

Why energy companies are still investing gasoline in the age of the electric vehicle

Why energy companies are still investing gasoline in the age of the electric vehicle

Why energy companies are still investing gasoline in the age of the electric vehicle

Tucked away off a Houston highway and behind a tightly-secured check point, Royal Dutch Shell’s tree-lined campus is packed with hundreds of researchers working on the next technological breakthroughs that could transform how the Anglo-Dutch oil major powers the world economy through the energy transition.

As Shell’s largest research and development center, the 200-acre Houston campus has 1,500 employees and hundreds of contractors. They’re working on everything from formulating new biodiesel to advancing liquefied natural gas into transportation fuels. Their research also extends into something more tangible in the near term: how to improve gasoline. 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.

Royal Dutch Shell News 1 Feb 2019: 7 Articles

Shell’s Prelude floating LNG project has taken longer than expected to start up.  Shell Australia

By Angela Macdonald-Smith: 01 Feb 2019

Energy giant Shell has brushed off persistent talk about technical problems dogging the start-up of the huge Prelude floating LNG project off Australia’s far north-west coast but has signalled the first LNG cargo from the closely watched venture may still be several weeks away. FULL ARTICLE

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Shell Offshore to pay $2.2 million fine for 2016 Gulf spill

Shell Offshore Inc. has agreed to pay a $2.2 million civil fine to the federal government to settle charges that the company violated the Clean Water Act by spilling 1,900 barrels of oil into the Gulf of Mexico in May 2016 when a subsea pipeline cracked at the company’s Green Canyon oil field. FULL ARTICLE

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ROYAL Dutch Shell boss Ben van Beurden has underlined the fact the company wants to grow in the UK North Sea even as he expressed concern about the prospect of a no-deal Brexit. Speaking after Shell posted a 36 per cent increase in annual profits to a four year high of $21.4 billion (£16.3bn), from $15.8bn, Mr van Beurden said the oil giant believed a no deal Brexit would be “a very bad outcome” but had prepared for the possibility. FULL ARTICLE

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FUEL giant Shell came under fire yesterday after unveiling a 36 percent profit leap – while “exploiting hardworking motorists”.

By CYRIL DIXON

Executives at the British-Dutch company were jubilant after reporting a £4.3billion surplus for the final quarter of last year. But critics pointed out that the “strong financial performance” came at the expense of millions of drivers. Campaigners are demanding a new watchdog for pump prices after they rose more than 11 percent year-on-year. FULL ARTICLE 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.

Royal Dutch Shell News 7 Jan 2019: Three different news items

Ben van Beurden Photographer: Aaron M. Sprecher/Bloomberg

The boss of oil giant Shell has admitted he is “still unhappy” with the firm’s safety performance, despite pledging a redoubling of efforts in 2018.

Written by  – 

Chief executive, Ben van Beurden, raised a call to redouble the firm’s focus on safety last year after a number of serious incidents in 2017.

An overturned tanker spill and explosion in Pakistan caused the tragic death of 200 people, while there were also fatalities in Canada and Nigeria.

Mr van Beurden added he is also focusing on restoring trust in the oil firm.

He said: “I’m still unhappy with our safety performance.

“In 2018, sadly two people died on our watch – one at a refinery in Germany and another at an onshore well in the USA.

“More broadly, the safety performance at our facilities has improved, but our performance on personal safety is worse than the previous year.

“We have to step up our efforts to keep people safe.”

Mr van Beurden also said that he can see that trust has noticed an “eroding” or trust in the UK, the Netherlands and the USA.

Shell came under heavy criticism from climate groups in 2018, with high profile opposition coming from investor group Follow This.

The firm also faced widespread shareholder opposition over chief executive pay last year.

Mr van Beurden said: “I feel an attack on Shell as an attack on my personal integrity. It’s something I feel deeply, probably at least once a day. If I can reduce that to once every other day, I’ll know that we are making progress.

“Of our three strategic ambitions – to become a world-class investment case, to thrive through the transition to lower-carbon energy and to have a strong societal licence to operate – I’m confident that we can achieve the first two.

“But I can’t see a sure path towards strengthening our societal licence to operate just yet.

“We need to change people’s perceptions through better performance and behaviours. And we need to have a better dialogue with civil society in some parts of the world.”

SOURCE

The Gulf Coast has become home of one the largest producers of a common plastic: Shell fired up its fourth alpha olefins unit at its chemical plant in Geismar, Louisiana, the company said Monday.

The multi-billion dollar expansion adds 425,000 metric tons per a year in capacity to the chemical manufacturing site, bringing its total alpha olefin production up at Geismar to more than 1.3 million metric tons per a year. That makes it the largest alpha olefins producing site in the world, the company said. 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.

Royal Dutch Shell News 2 November 2018

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.

Royal Dutch Shell News 15 October 2018

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.

Royal Dutch Shell News 13 October 2018

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.
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