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Big Oil Looks To Cut Production Following Activist Backlash

OilPrice.com

Big Oil Looks To Cut Production Following Activist Backlash

By Alex Kimani – Jun 19, 2021, 6:00 PM CDT

Two weeks ago, Big Oil suffered a series of boardroom and courtroom defeats in the hands of hardline climate activists.

…a Dutch court ordered Royal Dutch Shell to cut its greenhouse gas emissions harder and faster than it had previously planned. Never mind the fact that Shell already had pledged to cut GHG emissions by 20% by 2030 and to net-zero by 2050. The court in The Hague determined that wasn’t good enough and has demanded a 45% cut by 2030 compared to 2019 levels. read more

royaldutchshellplc.com and its also non-profit 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.

Will Supermajors Finally Be Held Accountable For Oil Spills?

Will Supermajors Finally Be Held Accountable For Oil Spills?

By Global Risk Insights – May 08, 2021, 12:00 PM CDT

A British Supreme Court ruling has brought to a head a 13-year-old battle to hold Royal Dutch Shell accountable for massive oil spills in the Niger Delta in 2008 and 2009. This creates a precedent for taking multinational corporations to trial in the home countries of their parent companies. This may mark the beginning of a more regulated global environment, in which subsidiary companies responsible for human rights abuses happening abroad could be held more accountable. Whether this will be an effective solution remains to be seen.  read more

royaldutchshellplc.com and its also non-profit 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 Exhaust Dwindling Oil & Gas Reserves By 2040

Shell To Exhaust Dwindling Oil & Gas Reserves By 2040

By Tsvetana Paraskova – Apr 15, 2021, 3:00 PM CDT

Shell expects to have produced 75 percent of its current proved oil and gas reserves by 2030, and only around 3 percent after 2040, the supermajor said in its Energy Transition Strategy that it will put to a non-binding shareholder vote next month.

Discussing the risk of stranded assets in the energy transition, Shell said that every year it tests its oil and gas portfolio under different scenarios, including prolonged low oil prices, and cross-references assets with break-even prices to assess if they would still be viable in case of low oil and gas prices. read more

royaldutchshellplc.com and its also non-profit 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.

Iraq Moves To Exploit Its Massive Natural Gas Reserves

Iraq Moves To Exploit Its Massive Natural Gas Reserves

EXTRACTS

…that said, it has made some progress in developing gas resources, most notably in 2019/2020 when the US$17 billion 25-year Basra Gas Company (BGC) project with Royal Dutch Shell…

The original design plans for Nebras – formulated between Shell and the Iraq Oil Ministry and Ministry of Industry and Minerals – were for a project that could produce at least 1.8 million metric tonnes per year (mtpy) of various petrochemicals. read more

royaldutchshellplc.com and its also non-profit 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.

Nigeria’s Lawsuits Against Shell Could Cause Oil Major Exodus

Nigeria’s Lawsuits Against Shell Could Cause Oil Major Exodus

By Viktor Katona – Mar 10, 2021, 1:00 PM CST

Judging from recent headlines, Nigeria has unleashed one of the most spectacular legal attacks on one of its key oil and gas investors, to an extent previously unseen in the country’s more than 60 years of hydrocarbon production. Shell has been active in Nigeria ever since the African country opened up to international investment in the early 1960s, maintaining its position as one of the leading actors in its upstream segment, accounting for roughly 10% of Nigeria’s crude production. Seemingly, the timing is quite inopportune for a large-scale feud – projects are getting delayed and drilling contracts cancelled, Nigeria’s GDP dropped 2% in 2020 just as was bouncing off its period of economic lassitude and OPEC+ production curtailments limiting the potential output of Nigerian producers. Despite the odds, the conflict between Nigeria and Royal Dutch Shell might be a harbinger of great transformations, not necessarily to the benefit of either side. read more

royaldutchshellplc.com and its also non-profit 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.

Which Banks Are The Biggest Backers Of Oil And Gas?

Which Banks Are The Biggest Backers Of Oil And Gas?

About a month ago, BlackRock Inc.(NYSE:BLK), the world’s largest asset manager with $9 trillion in assets under management (AUM), sent shockwaves through the fossil fuel sector after it vowed to double down on climate activism by backing more shareholder resolutions on climate change and social issues in 2021.

Around the same time, the $226 billion New York State pension fund and the $5B Rockefeller Brothers Fund announced plans to divest the majority of their fossil fuel investments and also sell shares of other companies that have been actively contributing to global warming. read more

royaldutchshellplc.com and its also non-profit 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 2020 Write Downs Could Soar To $22 Billion

Shell’s 2020 Write Downs Could Soar To $22 Billion

By Charles Kennedy – Dec 21, 2020, 3:30 PM CST

Shell warned the market on Monday that it would book up to $4.5 billion more in post-tax charges in the fourth quarter, which would take the supermajor’s combined write-downs to over $22 billion in the year in which Big Oil significantly cut the value of their oil and gas assets.

Shell expects post-tax charges of between $3.5 billion and $4.5 billion in relation to impairments, asset restructuring, and onerous contracts in the fourth quarter, the company said in its Q4 2020 update note today. The charges will include partial impairment of the Appomattox asset in the U.S. Gulf of Mexico due to subsurface updates, charges in the oil products division, including such related to the announced transformation of the refinery portfolio, as well as charges from onerous contracts in the Integrated Gas division. read more

royaldutchshellplc.com and its also non-profit 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.

Europe’s Big Oil Companies Aim To Become Big Energy

Europe’s Big Oil Companies Aim To Become Big Energy

By Haley Zaremba – Aug 19, 2020, 12:00 PM CDT

Big Oil’s most profitable business is no longer oil. This attention-grabbing headline published by Oilprice.com earlier this month may be dramatic, but it’s not hyperbole – it’s the truth. “Even as oil demand and prices have recovered, the tried and true economic model is no longer a failsafe option for oil and gas companies,” reads the article. “Pumping crude just isn’t paying the bills.” read more

royaldutchshellplc.com and its also non-profit 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 Petrochemical Bet Is A Risky One

Big Oil’s Petrochemical Bet Is A Risky One

By Tsvetana Paraskova – Aug 19, 2020, 5:00 PM CDT

Petrochemicals are expected to underpin global oil demand growth in the future as growth in transportation fuels demand is set to slow with the increased use of electric vehicles, the International Energy Agency (IEA) said in March in its annual Oil 2020 report with projections until 2025. But are petrochemicals really profitable?

“Petrochemical feedstocks LPG/ethane and naphtha will drive around half of all oil products demand growth, helped by continued rising plastics demand and cheap natural gas liquids in North America,” the IEA said in March when the COVID-19 pandemic was already upending global oil demand growth projections for this year. read more

royaldutchshellplc.com and its also non-profit 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.

The Beginning Of The End Of Oil & Gas Exploration?

By Alex Kimani – Aug 17, 2020, 7:00 PM CDT

Booms and bust cycles are very much a part of investing in the fossil fuel sector. In previous energy downturns, prices frequently experienced serious slumps, but oil and gas companies mostly kept faith in their biggest asset: Oil and gas reserves buried deep in the groundBut things are markedly different this time around.

Faced with pandemic-driven demand destruction and a relentless call for climate-conscious and ethical investing, oil executives are resigning themselves to the uncomfortable fact that a significant amount of their vast oil and gas reserves will end up totally worthless. read more

royaldutchshellplc.com and its also non-profit 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 Looks To Snap Up $9 Billion India Petchem Stake

Shell Looks To Snap Up $9 Billion India Petchem Stake

By Julianne Geiger – Aug 13, 2020, 10:30 AM CDT

Dutch oil major Royal Dutch Shell is planning to snap up a major stake in a petrochemical businesses, according to anonymous sources cited by Reuters.

According to the source, Shell signed a memorandum of understanding to pick up a 50% stake in India-based Nayara Energy’s petrochem project.

Nayara Energy Limited (formerly Essar Oil Limited), which also runs India’s second-largest single-site refinery that makes up 8% of India’s total refinery capacity, is 49.13% owned by PJSC NK Rosneft, which it picked up in August of 2017. read more

royaldutchshellplc.com and its also non-profit 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 Big Bet On Prelude Floating LNG May Be A Flop

By Irina Slav – Jul 15, 2020, 3:00 PM CDT

It was the last of the large LNG projects that put Australia in the lead for global LNG exports. It was the biggest jewel in Shell’s LNG crown. But this jewel hasn’t produced any LNG since February, and its future is unclear.

The Prelude floating liquefied natural gas project, with an annual capacity of 3.6 million tons, began shipping LNG last June. The first cargo shipped more than eight years after the final investment decision was made, and two years after the FLNG vessel arrived at the site, one Wood Mac analyst pointed out at the time. In February this year, production was stopped following a technical problem. read more

royaldutchshellplc.com and its also non-profit 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 also non-profit 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.

Oil Giant Considers Drastic Move As Pandemic Persists

Oil Giant Considers Drastic Move As Pandemic Persists

By Charles Kennedy – Jul 06, 2020, 12:00 PM CDT

Anglo-Dutch oil major Shell is not ruling out the possibility of moving its headquarters to the UK, the group’s chief executive Ben van Beurden told Dutch business newspaper Het Financieele Dagblad in an interview published over the weekend.

The move could offer Shell relief from the Netherlands ‘ dividend tax, which has now become taxing amid the low oil price environment and the pandemic. read more

royaldutchshellplc.com and its also non-profit 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 also non-profit 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: Is Shell’s Dividend Cut Permanent?

By Leonard Hyman and William Tilles for Oilprice.com

Investors were more than annoyed when Royal Dutch Shell slashed its dividend by two thirds. Just last year, the giant oil company announced its plan to pay out huge dividends over the coming five years. Actually, the investors used stronger terms than “annoyed.” They had reason to be annoyed after the strong commitment to the dividend, but maybe they should have previously shown a greater skepticism about the ability of any management to make such a commitment. Times change and perhaps no managements or boards should publicly commit to actions so far ahead of time. read more

royaldutchshellplc.com and its also non-profit 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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