Posts under ‘Total’

CNBC

Shell, Total continue buyback bonanza after record profits

PUBLISHED THU, JUL 28 20222:11 AM EDT

KEY POINTS

• Europe’s oil giants Shell and TotalEnergies extended share buybacks after their second-quarter profits beat an already record-breaking previous quarter.

• The two companies combined are buying back $8 billion in shares in the third quarter.

• Benchmark Brent crude oil futures have risen more than 140% in the past twelve months, averaging around $114 a barrel in the quarter.

Europe’s biggest oil companies Shell and TotalEnergies extended share buybacks on Thursday after their second-quarter profits beat an already record-breaking previous quarter on the back of soaring crude, gas and oil product prices.

The two companies combined are buying back $8 billion in shares in the third quarter after recording their respective highest quarterly profits while keeping their dividends steady, which might disappoint some investors. read more

CNBC

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

Sam Meredith@SMEREDITH19 PUBLISHED WED, MAY 11 2022

• 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

The New York Times

Oil Giants Sell Dirty Wells to Buyers With Looser Climate Goals, Study Finds

The transactions can help major oil and gas companies clean up their own production by transferring polluting assets to a different firm, the analysis said.

By Hiroko Tabuchi: May 10, 2022

When Royal Dutch Shell sold off its stake in the Umuechem oil field in Nigeria last year, it was, on paper, a step forward for the company’s climate ambitions: Shell could clean up its holdings, raise money to invest in cleaner technologies, and move toward its goal of net zero emissions by 2050. read more

FORTUNE

Fossil fuel companies like Shell and BP are raking in massive profits, and this could be just the beginning

Forbes:

Want To Stop Climate Change?

Buy Big Oil Stock

Jeroen Kraaijenbrink: Contributor: Leadership Strategy: 3 JAN 2022

EXTRACTS

In an age in which stock trading is no longer reserved to Wall-Street and a climate crisis is becoming a reality, sustainability-driven shareholder activism was bound to happen. And we see it happening, with increasing impact—especially in Big Oil, responsible for the largest share of the world’s greenhouse gas emissions.

“Thanks to the votes of institutional investors for the Follow This climate resolutions, Shell, Equinor, BP, Phillips 66, and Chevron have reluctantly set climate ambitions covering Scope 3 already.” And, as Follow This announced in their recent investor briefing, they will file no less than eight climate resolutions in 2022, at Shell, BP, Chevron, ConocoPhillips, Phillips 66, Occidental Petroleum, ExxonMobil, and Marathon Petroleum. read more

CNBC

Governments and Big Oil were first. The next wave of climate lawsuits will target banks and boards

GLASGOW, Scotland — Financial institutions and individual board members could be the next targets of climate litigation cases, according to the campaigners who helped to secure a landmark courtroom victory against oil giant Royal Dutch Shell.

It comes at a time when countries are scrambling to reach consensus in the final days of the COP26 climate summit. Negotiators from 197 countries are taking part in discussions with the goal of keeping the all-important global target of 1.5 degrees Celsius alive. read more

CNBC

Bill Gates predicts oil companies ‘will be worth very little’ in 30 years — here’s why

If you’re looking for an extremely long-term stock pick from billionaire Bill Gates, here it is: Avoid Big Oil.

As the world moves away from fossil fuels and adopts more clean and renewable energy sources, oil giants that have dominated markets for more than a century could be in trouble, the Microsoft co-founder said in a briefing at the COP26 climate summit in Glasgow, Scotland, on Thursday. read more

Britain’s fossil fuel dilemma in the spotlight as climate talks near

EXTRACTS

LONDON (Reuters) – Britain faces a fossil fuel dilemma: it can burnish its green credentials by halting new oil and gas development in the North Sea, yet doing so will leave it more reliant on imported fuel.

Britain’s Oil and Gas Authority said gas extracted from the British North Sea had an average emission intensity of 22 kg carbon dioxide equivalent per barrel of oil equivalent, while imported LNG had an average intensity of 59 kg. read more

CNBC

Democrats call on oil companies to testify on climate disinformation

• The committee called on top executives at ExxonMobil, BP, Chevron, Shell and lobbying groups American Petroleum Institute and the U.S. Chamber of Commerce to testify before Congress next month.
• The committee also requested documents on the reported role of the oil and gas industry in a long-term campaign to spread climate disinformation and undermine climate policy.

The House Oversight Committee on Thursday expanded its investigation into the fossil fuel industry’s involvement in spreading disinformation about the role fossil fuels play in causing climate change.

Committee Chairwoman Carolyn Maloney, D-N.Y., and Subcommittee on the Environment Chairman Ro Khanna, D-Calif., called on top executives at ExxonMobil, BP, Chevron, Shell and lobbying groups American Petroleum Institute and the U.S. Chamber of Commerce to testify before Congress next month. read more

The Guardian:

Exxon helped cause the climate crisis. It’s time they owned up

Mark Hertsgaard: Thursday 16 Sept 2021

EXTRACTS

Royal Dutch Shell even anticipated the current wave of lawsuits: an internal study in 1998 forecast a scenario in which environmental groups would band together to file “a class action lawsuit on the grounds of neglecting what scientists, including [the industry’s] own, have been saying for years”.

Indeed, last May the Netherlands branch of the advocacy group Friends of the Earth won a landmark case against Shell. A Dutch court ordered Shell to bring its global operations in line with the Paris agreement goal of limiting temperature rise to 1.5C above pre-industrial levels. This will require Shell to reduce both its own and its customers’ emissions by a staggering 45% from 2019 levels by 2030. Shell is appealing the ruling. read more

Content sourced from recent customer reviews of Shell Energy published on Trustpilot.

6 Sept 2021

Poor Pathetic Incompetent

Poor, pathetic, ignorant, liars and that’s just the start.

My DD was increased without my knowledge and also first utility was taken over by shell energy and when I try to log in , I am being told I have no energy supplied by Dhell when I am clearly paying £250+ a month!!!! I called on Wednesday 1 September 3 times twice being put through to Bosnia first to Amar, then a very bored woman and then Ahmed in the UK. I’m was promised by Ahmed in the Uk that the service received in Vpsnia was appalling and he would clarify all my issues , he even took my mobile number in case we get cut off, after 36 mins of hold and in total ( whilst working ) an hour and a half on calls I was cut off , 72 hours later still waiting for a call back from Ahmed who will call me back straight away if we get cut off, I didn’t get cut off accidentally I was cut off on purpose!!
Today Saturday 4 september 2021 I rang again got through to Bosnia and another Baltic state who coudnt deal with my complaint even though I had a reference number. I got a bog standard email stating they have let the customer down this time and will do everything to rectify yet no idea what they are going to do?
I’m going to take my credit and my DD to another supplier albeit slightly expensive who can provide a service and assure the customer of promises made. No wonder the chief executive starts the call with a recording “ be nice to our staff etc etc” but the issue is they are incompetent
Monday is going to be the day when I tell them to get lost and the money I pay then over £2000 a year can go to a better supplier.
You want to make the customer second next well there is no loyalty anymore
Thd customer goes where the service is ! read more

CNBC

Big Oil’s bid to lure back investors with cash could ultimately fail

… a ‘death knell’ for fossil fuels

Sam Meredith: PUBLISHED WED, AUG 18 2021 1:23 AM EDT

LONDON — The world’s largest oil and gas majors are seeking to lure back investors by returning more cash to shareholders. Market participants, particularly those looking to the long term, remain highly skeptical.

It comes at a time when oil and gas companies are raking in their highest profits since the onset of the coronavirus pandemic amid a sustained period of stronger commodity prices. read more

CBS NEWS

Methane emissions from oil and gas are even worse than previously thought

BY IRINA IVANOVA: AUGUST 18, 2021 / 8:30 AM / MONEYWATCH

Recent research indicates that the fossil fuel industry is responsible for far more methane than previously believed.

 is essential to staving off the worst effects of global warming, with the United Nations  read more

REUTERS

Analysis: Benchmark of Big Oil on methane emissions shows ‘significant gap’ between reality and reporting

By Terry Slavin – Editor, Reuters Professional: AUGUST 14, 2021 

Geofinancial Analytics’s MethaneScan® benchmark scores the oil and gas producers based on observed methane emissions in the year to this July.

This first snapshot, of the top 15 producers, finds that oil super-majors Royal Dutch Shell and Chevron are the worst performers, followed by ConocoPhillips, Marathon Oil and ExxonMobil. read more

THIS DAY

Royal Dutch Shell Commences Major Divestment of Assets in Nigeria

Emmanuel Addeh in Abuja JULY 31, 2021

Royal Dutch Shell has launched a major divestment of its Nigerian assets, especially those in the shallow water and onshore, several sources familiar with the matter said yesterday.

Sources close to the company disclosed that the oil giant had already hired Standard Chartered Bank to sell its Shell Petroleum Development Company of Nigeria Limited (SPDC) subsidiary, in deal which could be one of the hugest in the oil and gas industry in Africa ever. read more

The Guardian

How a powerful US lobby group helps big oil to block climate action

Chris McGreal: Mon 19 Jul 2021 11.00 BST

When Royal Dutch Shell published its annual environmental report in April, it boasted that it was investing heavily in renewable energy. The oil giant committed to installing hundreds of thousands of charging stations for electric vehicles around the world to help offset the harm caused by burning fossil fuels.

On the same day, Shell issued a separate report revealing that its single largest donation to political lobby groups last year was made to the American Petroleum Institute, one of the US’s most powerful trade organizations, which drives the oil industry’s relationship with Congress. read more