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Amid Climate Crisis, Shell’s Financial Windfall Is Profiteering At Its Most Grotesque

Common Dreams

Amid Climate Crisis, Shell’s Financial Windfall Is Profiteering At Its Most Grotesque

We may be in the dying days of the fossil fuel empire, but those companies are enriching themselves like never before, as people die from our climate crisis.

ANDY ROWELL: July 31, 2022

Oil giant Shell has just posted record profits for a second consecutive quarter, smashing its previous record from earlier this year.

Shell posted adjusted earnings of a staggering USD 11.5 billion for the second quarter of this year, beating the USD 9.1 billion from the first three months of 2022.

Europe’s largest oil group was boosted by the sky-rocketing energy prices caused by the Ukraine war.

This means in the first six months of this year the oil giant has earnings of over USD 20 billion. This is profiteering at its most greedy and grotesque. 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 supersize hydrogen plant sparks hope of green revolution

THE TIMES

Shell’s supersize hydrogen plant sparks hope of green revolution

Emily Gosden: Energy Editor:

Shell has begun building Europe’s largest “green” hydrogen plant that will use electricity from an offshore wind farm to produce the clean-burning fuel.

The oil and gas group said it had taken the final investment decision on the 200 megawatt electrolyser in the port of Rotterdam and expected the plant to start operating in 2025.

Shell said the capacity of the plant was equivalent to roughly two thirds of all electrolyser capacity in operation globally today. The new facility will use electricity from the Hollandse Kust (Noord) offshore wind farm that Shell is jointly building about ten nautical miles off the coast of the Netherlands. 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.

Investor rebellion over climate change at chaotic Shell AGM

THE TIMES

Investor rebellion over climate change at chaotic Shell AGM

A fifth of Shell shareholders have voted to reject its climate transition plans, almost double the rebellion that it endured a year ago.

The revolt came at a chaotic annual general meeting in London that was delayed for several hours after disruption by environmental protesters. Sir Andrew Mackenzie, Shell’s chairman, called police to clear the room at Central Hall in Westminster and three people were arrested outside the venue.

Shell, Europe’s biggest oil and gas group, is under intense scrutiny by investors and wider society over the speed of its plans to make the transition to cleaner energy. It has committed to eliminating its emissions to net zero by 2050, but faces pressure to make steep cuts in the near term, including from a 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.

Contractor resigns from Shell with warning to staff about ‘extreme harm’ to planet

skynews

They’re ignoring all the alarms’: Contractor resigns from Shell with warning to staff about ‘extreme harm’ to planet

Caroline Dennett told Sky News that working for Shell was no longer morally compatible with her beliefs about how best to protect the planet and the people who live on it.

: Climate change correspondent : Monday 23 May 2022 15:44, UK

A safety consultant who spent more than a decade working as a contractor for Shell has publicly resigned, claiming the oil and gas company is causing “extreme harm” to the planet. 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.

‘Carbon bombs’ set to trigger catastrophic climate breakdown

The Guardian

Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown

Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns

by Damian Carrington and Matthew Taylor: Wed 11 May 2022

The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows. 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.

Big Oil braces for shareholder revolt over climate plans in proxy voting season

CNBC

Big Oil braces for shareholder revolt over climate plans in proxy voting season

Sam Meredith@SMEREDITH19

  • Oil and gas majors on both sides of the Atlantic are scheduled to hold their annual general meetings in the coming weeks.
  • The forthcoming proxy season comes amid intensifying pressure on Big Oil to set short- and medium-term targets in line with the landmark Paris Agreement.
  • At present, not a single oil and gas major is aligned with the Paris Agreement’s goal of curbing global heating to 1.5 degrees Celsius above pre-industrial levels.

LONDON — Some of the world’s largest corporate emitters face the prospect of a shareholder rebellion this month, with climate-related votes poised to spike throughout the proxy season.

Oil and gas majors on both sides of the Atlantic are scheduled to hold their annual general meetings in the coming weeks. Existing climate strategies are up for votes alongside a range of investor-led resolutions targeting emissions reductions. 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 plc Annual General Meeting – Clarification statement regarding Resolution 20

Shell plc Annual General Meeting – Clarification statement regarding Resolution 20

Shell plc Annual General Meeting – Clarification statement regarding Resolution 20

Shell plc (the Company) would like to provide further clarification to shareholders regarding Resolution 20 – the Company’s Energy Transition Progress for the year 2021.

Shell recognises and values the importance of shareholder engagement when considering its energy transition progress. In 2021, shareholders overwhelmingly supported the Shell Energy Transition Strategy, reflected through an advisory vote at the 2021 Annual General Meeting. The Company engaged extensively both before and after this shareholder vote. Insight on this engagement was provided on pages 141, 142 and 143* (see note below) of the Company’s 2021 Annual Report. The Board is grateful for the time and contribution of all those shareholders who provided feedback, and for the broad indications of support for Shell’s strategy. 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 buys Indian renewables firm Sprng Energy for $1.55 billion

Shell to acquire Sprng Energy group, one of India’s leading renewable power platforms

Apr 29, 2022

Shell Overseas Investment B.V., a wholly owned subsidiary of Shell plc (Shell), today signed an agreement with Actis Solenergi Limited (Actis) to acquire 100% of Solenergi Power Private Limited for $1.55 billion and with it, the Sprng Energy group of companies.

Sprng Energy supplies solar and wind power to electricity distribution companies in India. Its portfolio consists of 2.9 gigawatts-peak1 (GWp) of assets (2.1 GWp operating and 0.8 GWp contracted) with a further 7.5 GWp of renewable energy projects in the pipeline. 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 starts withdrawing staff from Russia as part of exit strategy

Bloomberg

Shell starts withdrawing staff from Russia as part of exit strategy

Oil company is demobilising its seconded employees in ventures with Gazprom and Gazprom Neft in a phased process

Apr 20, 2022

Shell has started to withdraw staff from its joint ventures with Russia’s Gazprom as it moves forward with plans to exit investments in response to the war in Ukraine.

Dozens of Shell employees on temporary assignment at the Sakhalin-2 liquefied natural gas export project in Russia were removed over the weekend to be relocated back to other offices, according to people with knowledge of the matter. Operations at the facility are unlikely to be affected by the move, the people said. 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 in race for $1.1 billion Spanish green energy projects

Reuters

Shell in race for $1.1 billion Spanish green energy projects

By  and :

MADRID, April 8 (Reuters) – Oil major Shell and utilities Naturgy (NTGY.MC) and Verbund (VERB.VI) are preparing binding bids to buy renewable energy assets in Spain valued at about 1 billion euros ($1.1 billion), three sources close to the matter told Reuters.

Spanish fund manager Q-Energy is selling the portfolio, taking advantage of strong appetite among European energy companies feeling increasing pressure from investors and governments to tackle climate change. 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 SHELL GREEN?

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

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 says North Sea windfall tax won’t ease energy crisis

The Herald

Shell says North Sea windfall tax won’t ease energy crisis

By Mark Williamson Group Business Correspondent

SHELL chief executive Ben van Beurden has rejected calls for a windfall tax on North Sea firms and said the company remains keen to invest in new fields in the area after dropping plans for the controversial Cambo development.

The energy giant may have helped stoke calls for a one-off tax to be imposed on firms to help tackle the energy crisis in the UK yesterday when it posted a 300 per cent increase in annual profits, to $19.3 billion (£14.3bn), from $4.8bn. 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 ends 2021 on high note, hikes dividend, buybacks again

REUTERS

Shell ends 2021 on high note, hikes dividend, buybacks again

By 
  • Q4 21 profits soar to $6.4 bln, highest since Q1 2014
  • Results boosted by strong LNG trading
  • Company boosts 2022 spending plans

LONDON, Feb 3 (Reuters) – Shell (SHEL.L) again boosted its dividend and share repurchases on Thursday after fourth quarter profits hit their highest in eight years, fuelled by higher oil and gas prices and strong gas trading performance.

The strong results cap a year of dramatic recovery for Shell and the oil and gas sector after energy demand and prices collapsed in 2020 in the wake of the Coronavirus epidemic.

Shell shares were up 1.2% by 1015 GMT, compared with a 0.1% decline for the broader European energy index (.SXEP). 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 to rejig renewables department after head announces departure

Independent.ie

Shell to rejig renewables department after head announces departure

Elisabeth Brinton will leave her position as executive vice president for renewables and energy solutions

Shell is reshuffling its renewables unit after the department’s head said she will step down.

Elisabeth Brinton will leave her position as executive vice president for renewables and energy solutions.

Her role won’t be directly replaced, with Thomas Brostrom, being appointed EVP of renewable generation and Steve Hill to be put in charge of energy marketing. 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 says one of the largest hydrogen electrolyzers in the world is now up and running in China

CNBC

Shell says one of the largest hydrogen electrolyzers in the world is now up and running in China

PUBLISHED FRI, JAN 28 20227:39 AM EST

Anmar Frangoul KEY POINTS
  • Located in Zhangjiakou, Hebei Province, China, the electrolyzer will produce green hydrogen for fuel cell vehicles during the Winter Olympics.
  • Wael Sawan, Shell’s integrated gas, renewable and energy solutions director, says electrolyzer is “the largest in our portfolio to date.”
  • While there is excitement in some quarters about green hydrogen’s potential, the vast majority of hydrogen generation is currently based on fossil fuels.

A 20 megawatt hydrogen electrolyzer described as “one of the world’s largest” has begun operations, energy major Shell said Friday.

Located in Zhangjiakou, Hebei Province, China, the electrolyzer will produce green hydrogen for fuel cell vehicles being used at Zhangjiakou’s competition zone during the Winter Olympics, which are due to open on Feb. 4. Once the Games finish, commercial and public transport will use the hydrogen. 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.