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Shell and Exxon are aiming for multi-billion dollar green subsidies

English translation of an article published today by the Dutch Financial newspaper, the FD.

Shell and Exxon are aiming for multi-billion dollar green subsidies

Carel Grol: 16 November 2020

Four multinationals that want to store the greenhouse gas CO₂ in an empty gas field off the Dutch coast will apply for a subsidy at the end of this month. According to estimates, this subsidy could amount to around € 1.5 billion.

In brief

  • Four multinationals, including Shell, want to participate in a large-scale CO₂ storage project in a gas field under the North Sea.
  • It is estimated that a subsidy of € 1.5 billion will be applied for.
  • If the subsidy is paid, there will be less money for solar energy.

Four multinationals, including Exxon and Shell, will apply for a subsidy for CO₂ storage in a gas field under the North Sea. This grant is controversial as it is a huge amount for something that has never been done on this scale. There are less than 25 active large CO₂ storage projects worldwide. The so-called Porthos project in the North Sea should really be a breakthrough for Europe. 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.

Oil giant Shell tries to hand off the climate-change fight to consumers and gets roasted

Oil giant Shell tries to hand off the climate-change fight to consumers and gets roasted by AOC, Greta Thunberg and thousands more

By Rachel Koning Beals:

We welcome the #energydebate, the oil major counters

Royal Dutch Shell PLC had a poll for consumers this week: What habits are individuals willing to give up to cut emissions, it asked.

A stampede of Twitter responses had a follow-up for the oil-and-gas super major: Are you serious?

Some comments, which eventually topped 4,000 as of Tuesday, made note of the less than 200 poll responses (for an account that has some 550,000 followers) to this four-answer query: 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.

Shell tries to win back investors

Shell tries to win back investors

30 Oct 2020

Royal Dutch Shell, Europe’s largest oil company, said on Thursday that it would raise its dividend for the third quarter by about 4 percent to 16.65 cents and keep increasing it by a similar amount annually in an effort to win back investors.

Investors have pummeled Shell’s shares since the company cut its dividend earlier this year for the first time since World War II. The share price was up about 2 percent in trading on Thursday. 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: Energy Transition Woes

Royal Dutch Shell: Energy Transition Woes

: Energy Income Authority: Oct 8, 2020 High-quality income and growth plays in the energy space. Summary
  • Poor messaging from management, as well as an ill-prepared balance sheet caused in part by buybacks, has caused the European major a lot of pain.
  • Arguably, senior executives deserve to be shown the door. But even if that happens, expect the pivot away from fossil fuels to continue.
  • Is the move into Power and other “Green Energy” assets the right move? Maybe, maybe not.
  • This idea was discussed in more depth with members of my private investing community, Energy Income Authority. Get started today »

I often get asked why I don’t cover the supermajors all that often on Seeking Alpha. The answer comes down to a rather simple reality: time invested versus potential gain. Anyone that has followed my long / short book knows that whatever I take a stake in, I know inside out. Quite frankly, the sprawling operations of most majors coupled with competing against institutionals that have enough research analysts on the payroll to pack a local gymnasium makes it a losing proposition – or at least in my view. 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.

Should you ditch energy giants as the age of oil ends?

Should you ditch energy giants as the age of oil ends? Or try to clean up as they go green?

There has been talk of the demise of oil and gas for decades. But you know that things are getting serious when even the boss of oil giant BP, Bernard Looney, warns that demand for oil may peak in the next few years and then decline.

The so-called energy transition from fossil fuels to renewables is gaining momentum. 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.

More power to Foresight Solar’s subsidy-free solar farm

Emily Gosden, Energy Editor: Monday September 07 2020, 12.00am, The Times

A listed solar power fund is building its first subsidy-free solar farm after securing a deal to sell its electricity to Royal Dutch Shell.

Foresight Solar, a FTSE 250 fund, said that it would spend £18 million on the 26-megawatt Virgen del Carmen solar farm in southwestern Spain. Its first deal outside Britain and Australia would take its portfolio to 55 assets with 895 megawatts of capacity, it said.

Its existing solar farms benefit from government-backed subsidy schemes, but the Spanish project got the go-ahead solely based on commercial revenues, thanks to a deal to sell the electricity at a fixed price to Shell Energy Europe, a power division of the Anglo-Dutch oil major. The solar farm is expected to be built by the third… 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.

Europe’s Big Oil Companies Are Turning Electric

Under pressure from governments and investors, industry leaders like BP and Shell are accelerating their production of cleaner energy.

By : Aug. 17, 2020, 3:00 a.m. ET

This may turn out to be the year that oil giants, especially in Europe, started looking more like electric companies.

Late last month, Royal Dutch Shell won a deal to build a vast wind farm off the coast of the Netherlands. Earlier in the year, France’s Total, which owns a battery maker, agreed to make several large investments in solar power in Spain and a wind farm off Scotland. Total also bought an electric and natural gas utility in Spain and is joining Shell and BP in expanding its electric vehicle charging business. 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.

Shell CEO Ben van Beurden insists he doesn’t run an oil company any more

By Akshat Rathi and Laura Hurst: 9 JUNE 2020

Royal Dutch Shell Plc had been turning out about 2.7 million barrels of oil each day until the novel coronavirus took hold of the world. Demand for oil, the company’s core product, dropped almost a third in April, and the price of West Texas Intermediate briefly dipped into negative numbers for the first time.

It’s not easy to run an oil major when people suddenly stop needing oil. Chief Executive Officer Ben van Beurden responded by slashing spending and cutting Shell’s dividend for the first time since World War II. And, as critics warned, the company remains saddled with debt from its $53 billion acquisition of BG Group in 2015. 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.

InvestorPlace.com: Shell Knows It’s a Zombie as Long as It Focuses on Fossil Fuels

The petroleum giant is adjusting to falling oil demand, cutting both its dividend and its capital budget

By Dana Blankenhorn, InvestorPlace Contributor

The difference between Royal Dutch Shell and Exxon Mobil (NYSE:XOM) is that Shell knows it’s a zombie, something Exxon refuses to believe. Regardless of whether you trade the Dutch version of Shell stock (NYSE:RDS.A) or the British version (NYSE:RDS.B), you’re buying an fossil fuel company that is now promising to disappear.

Shell CEO Ben van Beurden put it this way: “There is an energy transition underway which may even pick up speed in the recovery phase of this crisis and we want to be well positioned for it.” 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.

RECHARGE: Shell to trade power from ‘Europe’s largest battery’ built by China in UK

Shell will buy and trade electricity from what’s claimed to be Europe’s biggest battery storage project currently being built by Chinese players in the UK, in another big step by the oil group into the power sector.

Shell Energy Europe signed a multi-year offtake deal for output from the 100MW/100MWh Minety storage project in southwest England, underway under a collaboration between China Huaneng Group and Chinese sovereign wealth fund CNIC.

Power from the project, designed to balance intermittent wind and solar output on the UK grid, will be traded by Shell’s specialist Limejump subsidiary, which is claimed to manage the largest network of batteries in the UK. 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.

The Guardian: Greenpeace blocks BP HQ with solar panels on new CEO’s first day

Greenpeace members have blocked BP’s headquarters with solar panels and oil barrels to mark Bernard Looney’s first day as chief executive.

About 100 environmental activists took 500 solar panels to the central London building at 3am on Wednesday as Looney prepared to take up his new role. Some protesters sat underneath the solar panels after they were prevented from installing them on the pavements and roads near the office. 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.

EnergyVoice.com: Equinor, Shell part of new group preparing ocean renewables plan

by 

Equinor and Orsted will lead a new group formed to tackle climate change by accelerating the deployment of offshore renewable energy technology.

Other members of the Ocean Renewable Energy Action Coalition include CWind, Global Marine Group, JERA, MHI Vestas, Mainstream Renewable Power, Shell, Siemens Gamesa, TenneT and The Crown Estate.

The coalition was formed in response to the September 2019 Call for Ocean-Based Climate Action made by the High-Level Panel for a Sustainable Ocean Economy. 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.

THE GUARDIAN: Royal Dutch Shell may fail to reach green energy targets

Royal Dutch Shell is at risk of falling short on plans to invest up to $6bn (£4.6bn) in green energy projects between 2016 and the end of 2020, with its slow progress likely to raise concern that oil companies are not moving fast enough to help tackle the climate crisis.

FULL ARTICLE

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.

Financial Review: Shell on the growth path after ESCO solar splash

Angela Macdonald-Smith
Angela Macdonald-Smith Senior Resources Writer: Dec 16, 2019

Shell has flagged a hunger for more acquisitions and hinted at interest in pumped hydro generation as it furthers its aggressive expansion into electricity supply in Australia with the purchase of a 49 per cent stake in solar farm developer ESCO Pacific.

The deal, the price of which wasn’t disclosed, follows just weeks after the energy major completed its $617 million acquisition of ERM Power, which launched it into the electricity retailing sector in Australia. It also acquired German household battery supplier sonnen earlier this year. 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.

Once Hailed As A Renewable Mecca, Georgetown Hires Shell To Manage Its Energy Portfolio

The City of Georgetown earned international attention a few years ago by becoming the largest city in the U.S. to run completely on renewable power. Now, the city has chosen a subsidiary of Shell Oil to take over management of its energy holdings.

In 2015, when Georgetown went 100% renewable, it signed contracts for more electricity than it needed, hoping to sell the extra power back to the Texas grid for profit. Then energy prices fell; Georgetown lost money and needed to raise rates for its utility customers to cover the cost. 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.

Renewables Now: Solar park of 102.5-MW goes live to supply Facebook data centre in Georgia

Solar park of 102.5-MW goes live to supply Facebook data centre in Georgia

The Bancroft Station Solar Farm. Image by: PRNewsfoto/Walton EMC.

The power plant itself was installed by Silicon Ranch, whose largest shareholder is oil and gas giant Royal Dutch Shell Plc

December 13 (Renewables Now) – A 102.5-MW solar park in Georgia that will be powering a Facebook data centre in the state’s Newton County has been put on stream.

The Bancroft Station Solar Farm, named to the original name of the local area in Early County, will be supplying electricity to social media giant Facebook (NASDAQ:FB) through a contract with utility Walton Electric Membership Corp (EMC), the latter said on Thursday. The power plant itself was installed by Silicon Ranch, whose largest shareholder is oil and gas giant Royal Dutch Shell Plc (AMS:RDSA). 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.
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