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OilPrice.com: Is This The End For Big Oil Dividends?

Since 2010, the five largest oil majors have spent vastly more than they have generated when including shareholder payouts. ExxonMobil, BP, Chevron, Total, and Royal Dutch Shell have dished out a combined $536 billion in dividends and share buybacks since 2010, a figure that far exceeds the $329 billion in free cash flow over the same period, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).

That comes out to a gap of $207 billion, or about 39 percent of the total that was given to shareholders. The shortfall had to be made up somehow. According to IEEFA, the oil majors bridged the gap by selling off assets and taking on debt. 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 Washington Post: We live in an age of climate disaster. Now what?

By Ishaan Tharoor with Ruby Mellen

This week, U.S. scientists confirmed what anyone who has been paying attention would probably already know. The 2010s were the hottest decade ever recorded on the planet. 2019 was the second-hottest year ever measured, and the evidence was brutally on show: We saw swaths of Greenland’s ice cap melt into the sea, heat waves blaze through northern Europe, extreme storms and floods batter vulnerable islands and coasts, and epic wildfires scorch vast drought-ridden stretches of the globe. 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.

Insurers praised for cutting fossil-fuel ties

Extracted from an article by Ryan Smith published by InsuranceBusinessMag.com: 17 Jan 2020

Activist groups have been pressuring financial institutions to cut ties with fossil fuel, and firms like AXA, Allianz, Swiss Re and SCOR have been among the first to respond. All four pledged not only to divest from fossil fuels, but to phase out the insurance and underwriting of coal and other fossil-fuel-related businesses, SIGWATCH said.

Energy companies such as Royal Dutch Shell and ExxonMobil were among the most criticized brands, according to SIGWATCH. 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.

investors CHRONICLE: Shell’s LNG bet looks sound despite glut

Mark Robinson

When Royal Dutch Shell (RDSB) launched its £35.6bn bid for BG Group, it was easy to appreciate the strategic rationale. At a stroke, the Anglo-Dutch energy giant not only bolstered its reserves, but also shored-up its position in a global liquefied natural gas (LNG) market which had grown rapidly since the turn of the millennium.

Shell wasn’t alone in increasing its exposure to the sector, but investors may now be questioning whether long-term prospects in gas markets warrant the massive capital allocation. A supply glut, most noticeably in the US Permian basin, weighed on gas prices last year, and there are few signs of respite as new fields in Australia and Russia come online. 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.

CityAM: Channel 4 under fire over BP Paralympics sponsorship

Sunday 12 Jan 2020

Channel 4 has come under fire from climate activists after it announced that BP will sponsor its coverage of the 2020 Paralympic Games in Tokyo.

Environmental evangelists have taken aim at the broadcaster for accepting money from the oil giant, which is one of the world’s largest contributors to fossil fuel emissions.

Read more: Boris Johnson complaint over Channel 4 melting ice sculpture rejected by Ofcom

The deal means Channel 4 will carry BP branding on its coverage of the Paralympics across live TV, online viewing and social media. Toyota is the other main sponsor of the event. 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 Times: BP and Shell won’t be abandoning fossil fuels any time soon.

The oil majors, particularly in Europe, are ploughing billions into green energy projects. However, their efforts to reduce emissions often look like window dressing.

Royal Dutch Shell spends about $3 billion on its low carbon and electricity businesses, which is roughly a tenth of its research and development budget.

BP said this week it hoped to create five billion-dollar green energy businesses by 2025. But many of its green initiatives are designed to prolong the life of its oil and gasfields, by boosting productivity at wells and managing carbon more efficiently. BP and Shell won’t be abandoning fossil fuels any time soon. 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 feeble arguments presented by Shell to Greta Thunberg

Extracts from a letter published by The Independent on 8 Jan 2020.  

Donnachadh McCarthy highlights the feeble arguments presented by Shell to Greta Thunberg in defence of their policies (Oil companies like Shell could destroy humanity as we know it – but not if we make fossil-fuel investments illegal, Voices 8 January).

The blood of middle East wars is on the hands of major oil companies, but ours too, as we are lazily dependent on cheap dirty energy.

Our planet didn’t choose to self-harm. We are the ones who became addicted to oil, electricity and plastic… 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 INDEPENDENT: Oil companies like Shell could destroy humanity as we know it

The climate column: Compulsory and voluntary carbon exposure declarations are a joke. It is time for governments to unite and take the kind of action the planet desperately needs

But instead of listening to its own scientists, it continued to invest billions in fossil fuels...

“It is now too late to leave”…

Imagine living in East Gippsland, Australia, with your family and hearing this message in the middle of an apocalyptic Australian fire-storm.

But this emergency warning delivered to terrified Australians trapped by fires on beaches in pitch blackness, with ash and fiery embers raining down on them, is also a message to humanity.

We are teetering on the edge of the climate precipice; it may already be too late to pull us back.

The rate that we are increasing fossil fuel usage rather than slashing it, means that our remaining carbon budget to avoid breaching a 1.5C rise in global temperatures will be bust in just eight years. 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.

Lawsuit to Hold Big Oil Accountable for Costs of Climate Change

January 6, 2020 – SACRAMENTO – California Attorney General Xavier Becerra, co-leading a coalition of 13 states, filed an amicus brief supporting the State of Rhode Island in its lawsuit State of Rhode Island v. Shell Oil Products Company LLC et al. In the lawsuit, the state seeks to hold oil companies accountable for their actions contributing to climate change and the resulting harms from sea-level rise, changes to the hydrologic cycle, and increased air and ocean temperatures. 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.

CHURCH TIMES: Oil company shares? Time to move our investments elsewhere?

by PAUL VALLELY: 03 JANUARY 2020

HERE we are, in 2020, at the start of not just a new year but a new decade. It is one that could prove make-or-break for the dominant challenge of the 21st century: climate change. Will it be a decade of delivery or a decade of disaster?

So, what is the way forward? The director of new energies at Shell, Maarten Wetselaar, outlined its $2-billion plan to transition from fossil-fuels to low-carbon energy. Yet it is still spending $25 billion on oil prospecting.

The world of finance, which holds large amounts of oil-company shares, must exert pressure for that to change. The trouble, says the outgoing governor of the Bank of England, Mark Carney, is that financial firms are “not moving fast enough” away from fossil-fuel investments. Many of those investments, which could rapidly become worthless, are lodged in the pension funds of ordinary people. Perhaps it is time for us to demand that our pension funds move our investments elsewhere. 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.

EXPRESS: Pension funds for millions of Brits could end up ‘worthless’, warns Bank of England chief

PENSION FUND managers still investing in fossil fuels despite aims for the UK to reach net-zero emissions by 2050 risk millions of Britons assets becoming “worthless”, Bank of England governor Mark Carney told BBC Today.

By NAOMI ADEDOKUN 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.

Firms must justify investment in fossil fuels warns Outgoing Bank of England governor

The outgoing governor of the Bank of England, Mark Carney, has said all companies and financial institutions must justify their continued investment in fossil fuels, and warned that assets in the sector could end up “worthless”.

In an interview with BBC Radio 4’s Today programme being broadcast on Monday, Carney said that although the financial sector was starting to cut back on investment in oil and gas companies, the process was not moving quickly enough. 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.

REUTERS: Nigeria inks major LNG expansion with oil majors

Reporting by Camillus Eboh in Abuja and Libby George in Lagos, Dec 27, 2019

* Train 7 will boost LNG output to 30 mln t/y

* Deal shows “renewed confidence” from investors – Kyari

* FID was delayed from Q4 2018

ABUJA/LAGOS, Dec 27 (Reuters) – Nigeria signed a major gas expansion deal on Friday, a much-needed collaboration with oil majors that Nigeria LNG said would boost its liquefied natural gas output by more than 30%.

The agreement marks a moment of amity with international oil majors, even as a tax dispute and a new law increasing the government’s take on deepwater oil production have irked some companies.

The final investment decision on the Train 7 processing unit at the Bonny Island plant was signed by Nigeria LNG partners state-run Nigerian National Petroleum Corporation (NNPC), Eni , Total and Royal Dutch Shell in Abuja. 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: FTSE leaves coal and oil firms and G4S on ethical investment list

FTSE leaves coal and oil firms and G4S on ethical investment list

: Sun 22 Dec 2019

Extracts:

The latest publicly available factsheets show that 65 oil and gas companies were already present on FTSE4Good’s emerging and developed markets indices. They included British and French oil “supermajors” Royal Dutch Shell and Total – the sixth and 17th biggest contributers to carbon dioxide pollution in history.

“Looking at the number of oil companies listed in this index, this looks more like FTSE4Crude than FTSE4Good,” said Rosie Rogers, the head of Greenpeace UK’s climate campaign. “It takes some brass neck to argue that there’s anything ‘ethical’ about investing in the fossil fuel companies driving the climate emergency.” 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: Dutch supreme court upholds landmark ruling demanding climate action

In a formal reply in November, Shell denied it was liable. A month earlier the company’s CEO said it had “no choice” but to invest in oil and claimed it was “entirely legitimate” to do so.

Court rules Dutch government has duty to protect citizens’ rights in face of climate change

The Netherlands’ supreme court has upheld a ruling ordering the country’s government to do much more to cut carbon emissions, after a six-year fight for climate justice.

The non-profit Urgenda Foundation, which brought the case, welcomed the “groundbreaking” judgment.

As well as inspiring cases against other national governments, Urgenda’s success has encouraged campaigners to take up legal arms against corporations. In April a group of social and environmental justice groups led by Friends of the Earth Netherlands began the process of suing the oil firm Shell, arguing that its business model threatens international climate goals and endangers human rights. 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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