Posts under ‘Ukraine’

Posted by John Donovan August 7, 2023

In a groundbreaking display of environmental commitment, Barclays is championing sustainability while funding the beloved oil giant, Shell. The masterful manipulation of “sustainable finance” initiatives has allowed Barclays to classify a $10 billion revolving credit facility for Shell as “social and environmental financing” – truly an awe-inspiring feat in the world of greenwashing.

But wait, it gets better! Barclays ingeniously counts its share of the loan towards achieving its $150 billion social and environmental financing target. Who knew that aiding a polluting behemoth could be such a philanthropic endeavour? read more

Posted by JOHN DONOVAN: July 23, 2023

Oh dear, oh dear! What a dreadful turn of events for poor, poor Shell! Brace yourselves for the heart-wrenching news, folks. The ruthless, money-hungry oil giant, Shell, is facing a tragic fate – its profits are about to HALVE! Yes, you heard that right! This pitiful predicament comes as a result of a “slump” in oil and gas prices.

How unfortunate for the poor souls at Shell, who are used to swimming in their overflowing cash reserves. But fret not! Even amidst this so-called “crisis,” Shell still finds ways to soothe its aching shareholders and is expected to raise its dividend and offer share buybacks. Because who needs financial stability when you can temporarily placate your investors?

In 2022, Shell bathed in the glory of record-breaking profits, boasting a staggering £9 billion for the second quarter. But alas, 2023 has brought a cruel twist of fate, with analysts predicting a measly £4.7 billion profit for the same period this year. Poor Shell, how will it ever survive? read more

Posted by John Donovan July 5, 2023

In a stunning display of corporate callousness, Shell and Unilever have come under fire for their continued operations in Russia, even after the country’s invasion of Ukraine. These greedy giants seem to prioritize profits over principles, turning a blind eye to the blood money they accumulate.

Despite Shell’s pledge to withdraw from the Russian energy market, the company has shamelessly continued to trade Russian gas, making a mockery of its supposed commitment. Analysis from the campaign group Global Witness reveals that Shell was involved in nearly an eighth of Russia’s shipborne gas exports in 2022. Oleg Ustenko, an adviser to Ukrainian President Vladimir Zelensky, rightly accuses Shell of accepting “blood money” that directly supports Russia’s brutal aggression against Ukraine. read more

Posted by John Donovan 3 July 2023

In a remarkable exhibition of utter disregard for their own pledges, Shell, the greedy and ruthless polluting oil giant, continues to engage in the trading of Russian gas more than a year after promising to withdraw from the Russian energy market.

Despite their hollow claims, the despicable company was involved in nearly an eighth of Russia’s shipborne gas exports in 2022, making a tidy sum of hundreds of millions while conveniently ignoring the bloodshed and suffering caused by the Ukrainian invasion. read more

Posted 13 June 2023 by John Donovan

Prepare yourselves, mere mortals, for the grand spectacle that is about to unfold! Wael Sawan, the illustrious Chief Executive Officer of Shell Plc, has set his sights on the concrete jungle of New York City, where he will engage in a valiant effort to prove to the world that his precious oil empire is shamelessly undervalued compared to its feeble American counterparts. How noble of him!

In a highly anticipated presentation scheduled for Wednesday, 13 June, Sawan will dazzle investors with a glimpse into his master plan for the company. Brace yourselves, for his vision is nothing short of awe-inspiring: to shower shareholders with bountiful returns and close the gap in valuation with the mighty giants of the industry, such as Exxon Mobil Corp. and Chevron Corp. Surely, this Herculean task will require nothing less than unwavering devotion and a complete disregard for the planet’s well-being. read more

Shell faces shareholder revolt over their laughably ‘inadequate’ climate change goals

Posted by John Donovan: 20 May 2023

Shell is bracing itself for an agonizing annual meeting next week, where it will attempt to juggle the demands for profits with the bothersome calls to address the climate crisis more forcefully.

Shell, that paragon of environmental stewardship, has drawn criticism for its outrageous earnings “bonanza” resulting from the skyrocketing oil and gas prices following Russia’s invasion of Ukraine.  read more

Posted by John Donovan:

19 May 2023

Shell, the paragon of corporate responsibility, finds itself in the midst of an investor rebellion because of baseless claims that it is scaling back its bold plans to achieve net zero targets.

The noble Universities Superannuation Scheme (USS), Britain’s preeminent private pension fund, has vowed to vote against the re-election of the illustrious Sir Andrew Mackenzie as chairman. Why, you may ask? Well, apparently the audacious accusation is that Shell is not doing enough to reduce its carbon footprint. How dare they besmirch Shell’s good name? read more

Posted by John Donovan 18 MAY 2023

Shell’s ‘tense’ AGM where obscene profits clash with the pesky climate

Prepare for the showdown of the century! Shell, the notorious oil giant known for its greed and pollution, is about to face a shareholder meeting that promises to be nothing short of acrimonious. It seems that Shell is struggling to strike a delicate balance between making obscene profits from oil and gas and dealing with a pesky minority who believe they should actually do something about climate change. How dare they? read more

Posted by John Donovan on 16 May 2023, authored partly in collaboration with a whistleblower source. 

Shell’s Troubling Links with Iran Exposed

Explosive leaked documents uncover Shell’s alarming collaboration with an Iranian regime-connected company through its Iraq joint venture, casting a shadow on the oil giant’s ethical standing.

The damning evidence reveals that Shell’s joint venture in Iraq inked a deal that directly benefits a company closely tied to the Iranian regime, according to documents obtained by Unearthed. read more

By John Donovan

Shell, the oil giant partly responsible for environmental destruction and climate change, has shamelessly announced a profit of nearly £8 billion for the first quarter of the year, revealing its insatiable greed for profits. This further highlights the company’s utter disregard for the cost-of-living crisis that their exorbitant fuel prices have caused. Even with oil prices down from their peaks touched after Russia’s invasion of Ukraine, Shell still made money at an obscene rate, almost £1,000 a second or £58,000 per minute. read more

FORTUNE

Ukraine calls on energy giant Shell to tap its massive ‘blood money’ profits from Russia’s invasion and donate $1 billion to rebuild the country

Oil and gas companies reported some of their highest annual profits in history earlier this year, cashing in on gas prices that soared because of Russia’s invasion of Ukraine. But critics say energy giants are indirectly prolonging the war with their record revenues, with some Ukrainian officials even calling for a redistribution of profits to make things right. read more

The Washington Post

Breaking up with Russia is hard for many Western firms, despite war

But leaving can be complex. Four days after the invasion, Shell announced it was leaving Russia and later wrote off its nearly 27.5 percent stake in the Sakhalin-2 LNG facility in the Far East at $1.6 billion. This month, an unconfirmed Russian newspaper report suddenly surfaced that Putin had given permission for the company to repatriate $1.2 billion from the sale of its stake in Russia’s Novatek. Shell had no comment. read more

REUTERS

Russia’s Novatek to acquire Shell’s stake in Sakhalin-2 for $1.16 bln

April 12, 202310:28 AM GMT+1

MOSCOW, April 12 (Reuters) – Russia’s government has approved the sale of Shell’s (SHEL.L) former 27.5% stake in the Sakhalin-2 energy project to Russian energy firm Novatek (NVTK.MM) for 94.8 billion roubles ($1.16 billion), a government order showed on Wednesday.

Russian President Vladimir Putin gave his consent for the transfer of the required funds to Shell, Russian daily Kommersant reported last week. read more

OILPRICE.COM

Putin Approves $1.2 Billion Payment To Shell For Sakhalin-2 Exit

By Tsvetana Paraskova – Apr 04, 2023, 4:00 AM CDT

Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported on Tuesday, quoting sources with knowledge of the matter.

Last year, a decree from Putin stipulated that a newly set up state Russian company would take over the rights and obligations of Sakhalin Energy Investment Co., the joint venture running the Sakhalin-2 oil and gas project. read more

Energy giant Shell expects boost in gas production

August Graham, PA Business Reporter

Energy giant Shell has said it expects to have produced more gas in the opening three months of this year than it did during the close of last year even as prices drop from recent extremes.

The oil and gas major said developments in Australia would also help it supply more liquid gas – the type transported by ship – to countries around the world.

The company’s shares rose by 1.8% after the news, while rival BP also saw a 0.6% boost.

Shell expects to have produced between 930,000 and 970,000 barrels of oil equivalent per day from its integrated gas division over the three months, up from 917,000 in the last quarter of 2022.

It also expects to load ships with between seven and 7.4 million tonnes of liquid natural gas (LNG) during the quarter, an increase from 6.8 million tonnes in the previous three months. read more

The Washington Post

Advocacy group accuses Shell of ‘greenwashing’ and misleading investors in SEC complaint

Analysis by Maxine Joselow with research by Vanessa Montalbano

February 1, 2023 at 8:03 a.m. EST

An advocacy group is accusing the oil giant Royal Dutch Shell of misleading investors by classifying its investments in natural gas as spending on renewable energy.

In a complaint filed today with the Securities and Exchange Commission, the group Global Witness argues that Shell’s classifications amount to “greenwashing” — the practice of portraying a business or product as more environmentally friendly than it really is. read more