News and information on Shell Plc
Posted by John Donovan: 16 January 25
Ah, good old Shell, the absolute paragon of corporate virtue—if “virtue” means ruthlessly exploiting the planet, trampling workers, and bending over backwards to ensure its investors keep cashing in on destruction. And who might those investors be? Oh, just the likes of BlackRock, Vanguard, and State Street—because nothing screams “commitment to sustainability” quite like stuffing their pockets with profits from an oil-slicked death spiral.
Posted by John Donovan: 5 Dec 2024
In a breathtaking display of corporate greed dressed up as “strategic review,” Shell—the world’s favourite villain in the game of Destroy the Planet for Profit—has decided it’s no longer interested in leading the transition to clean energy. Why? Because it turns out offshore wind doesn’t print money fast enough for CEO Wael Sawan, whose vision for the future seems to be a fossil-fueled inferno of record profits.
Let’s break this down. Shell, once pretending to dabble in saving the planet with its renewable energy division, is now gutting it for parts. Shell Energy—the division responsible for renewables, power generation, and supply—is being hacked into two Frankenstein-like units: power generation and trading. Because, hey, why bother with innovation when you can shuffle papers and call it a strategy?
Posted by John Donovan: 3 Feb 24
In a twist that no one saw coming, Shell’s CEO Wael Sawan has spilled the tea on the latest soap opera in the LNG world, where Uncle Sam’s liquefied natural gas (LNG) sector is apparently losing its sparkle. This revelation came hot off the press during Shell’s glitzy earnings call, where Sawan played the part of a concerned corporate citizen worried about the “reliability” of American LNG, amidst a backdrop of legal tiffs and paused plant approvals. “I won’t get into the details of the legal proceedings,” he teased, leaving us all on the edge of our seats for the next episode.
CBS News
Shell cracker plant once again issued pollution violation notice
INDUSTRY, Pa. (KDKA) – The Shell cracker plant in Beaver County has once again been issued a pollution violation notice.
This is the third time the state’s department of environmental protection has said the plant has exceeded emission limits, once again violating rolling 12-month standards in November and December.
The plant has only been operational since November.
The DEP said in November it emitted 716 tons of volatile organic compounds, 200 tons above what is allowed.
Sunday Telegraph
Europe gas shortages to last several winters, Shell boss warns
Ben van Beurden says energy rationing will be needed for a number of years
By Rachel Millard: 29 August 2022 • 12:54 pm
Europe’s energy crisis will last for several winters, the boss of Shell has said, as he warned it is “fantasy” to think shortages caused by Russia cutting supplies can be resolved quickly.
Ben van Beurden told a conference in Norway that power rationing will be needed for a number of years as electricity prices hit fresh record highs.
Reuters
Russian court rules local Shell JV to move under Moscow control -Ifx
By Reuters: Updated: 22/08/2022 – 16:45MOSCOW – A Russian court ruled on Monday that Salym Petroleum Development (SPD), a joint venture between Shell and Gazprom Neft, should be transferred to Russian jurisdiction, Interfax news agency reported, citing the verdict.
Kommersant daily reported last week that Gazprom Neft was suing to have its Salym Petroleum Development joint venture with Shell be transferred to Russian jurisdiction, and for Shell’s shareholding rights to be suspended.
REUTERS
Gazprom cuts gas supply to Orsted and Shell Energy
June 1, 2022
June 1 (Reuters) – Russian gas producer Gazprom (GAZP.MM) has cut off gas supplies to Denmark’s Orsted (ORSTED.CO) and to Shell Energy (SHEL.L) for its contract to supply gas to Germany, it said on Wednesday, citing the companies’ failure to make payments in roubles.
Reporting by Reuters and by Christoph Steitz in Frankfurt, Stine Jacobsen in Copenhagen Editing by Jason Neely and David Goodman SOURCEFortune
Shell CEO points out loopholes in Russian oil sanctions after announcing record profits
BY CHLOE TAYLOR: May 5, 2022 4:16 PM GMT+1Planned embargoes on Russian oil may be thwarted due to the way the global crude supply chain works, Shell’s CEO explained on Thursday.
Speaking after Shell reported record quarterly profits, Ben van Beurden, the oil giant boss, told reporters that the framework of the world’s crude network left loopholes open in Western government bans on Russian oil.
This is because imported fuels like gasoline, which might have been made from Russian oil but refined outside of Russia, cannot always be traced back to their natural source.
Shell plc publishes first quarter 2022 press release
| Source: Shell plc
London, May 5, 2022
“The war in Ukraine is first and foremost a human tragedy, but it has also caused significant disruption to global energy markets and has shown that secure, reliable and affordable energy simply cannot be taken for granted. The impacts of this uncertainty and the higher cost that comes with it are being felt far and wide. We have been engaging with governments, our customers and suppliers to work through the challenging implications and provide support and solutions where we can.
Shell tightens restrictions on Russian oil buying
April 27 (Reuters) – Shell SHEL.L on Wednesday tightened its restrictions on buying Russian oil, saying it would no longer accept refined products with any Russian content, including blended fuels.
Shell last month said it would phase out buying Russian crude and its involvement in all Russian hydrocarbons from oil to natural gas, after facing an uproar over buying a Russian crude cargo in the days following Moscow’s invasion of Ukraine.
The Telegraph
Ukraine urges Johnson to ensure ‘not a drop’ of Russian oil reaches the UK
Shell, one of the world’s largest oil and gas companies, has pledged to withdraw from Russian oil products, but…
Ukraine’s government has urged the UK to ensure “not a single drop of Russian oil enters the country”, as it pushed for a “total and immediate” boycott on Russian fossil fuels.
Oleg Ustenko, economic adviser to President Volodymyr Zelenskyy, said it was “no time for half measures”. It comes amid concerns Britain may adopt a definition of Russian oil that allows some Kremlin supplies into the country, even under the impending embargo.
Ukraine brands Shell ‘deplorable’ after accusing it of using an ‘accounting trick’ to keep buying Russian oil
Ukraine’s government has branded Shell ‘deplorable’ after accusing it of using an ‘accounting trick’ to keep buying Russian oil.
Officials in Kyiv said Western companies were continuing to ‘bankroll Putin’s war machine’ despite promising to cut ties with the Kremlin.
The Telegraph
‘Latvian blend’: How Russia bends the rules to keep its oil flowing
There is a growing gap between rhetoric and reality on the vast trade of Russian oil
CITYA.M.
Ukraine’s government writes to Shell, accusing it of ‘bankrolling Putin’s war with an accounting trick’
JACK MENDEL: 22 April 2022
Ukraine has accused energy giant Shell of continuing to “bankroll Putin’s war machine” buy buying oil through an “accounting trick.”
In an angry letter sent to the oil company’s boss, Kyiv branded it “deplorable” that firm was still buying fuel linked to the Kremlin indirectly.
According to the Telegraph, despite a commitment to stop purchasing energy, Shell considers refined oil products as not being Russian if less than half of the blend is from the country.
The Telegraph
Shell accused of using ‘accounting trick’ to keep buying Russian oil
: Fri, April 22, 2022,The Ukrainian government has accused Shell of using an “accounting trick” to allow the oil giant to keep buying Russian crude despite promising to cut ties with the Kremlin.
A letter sent by Kyiv to Shell boss Ben van Beurden said it was “deplorable” that companies are continuing to “bankroll Putin’s war machine” amid concerns Russian oil is still being bought through backdoor routes.
The FTSE 100 oil major committed to stop purchasing Russian crude in the spot market and said it is legally obliged to accept oil deliveries from contracts sealed before the invasion of Ukraine. However, it defines refined oil products, such as diesel, as not being of Russian origin if less than 50pc of the blend is from the country.
Three Chinese energy firms are in talks to buy Shell’s stake in a huge Russian natural gas export project, a report says
Three Chinese state-run energy companies are in talks to buy Shell’s 27.5% stake in a huge Russian natural gas export project, Bloomberg reported, citing people with knowledge of the matter.
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