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Can a ‘toxic’ business (Shell) really turn from sinner to saint?

FROM A MAJOR ARTICLE ON TWO-THIRDS OF PAGE 8 OF THE SUNDAY TIMES BUSINESS SECTION OCT 31, 2021

How should Shell, Glencore and British American Tobacco deal with their “toxic” legacy businesses?

Robert Watts: Sunday October 31 2021, 12.01am, The Sunday Times

Ben Van Beurden knew last weekend that he was facing one of the more trying weeks of his 38 years at Shell. But he still had no clue of the impending ambush being prepared by an American billionaire activist investor.

Shell’s chief executive knew the quarterly figures for the oil and gas giant he would unveil on Thursday would be bad. Profits between July and September came in at $4.1 billion (£3 billion) — well below the $5.4 billion expected and 25 per cent down on the previous quarter. read more

royaldutchshellplc.com and its also non-profit 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 back Shell strategy after Wall Street raider’s swoop

The Telegraph

Investors back Shell strategy after Wall Street raider’s swoop

Most shareholders unhappy with owning a fossil fuel company have already sold their holdings, says one institutional investor

Corporate raider Dan Loeb’s plot to break up Shell risks harming its efforts to tackle climate change, top investors have warned, in a sign he may face a struggle to win over the City.

The pugnacious Third Point founder, 59, has argued the FTSE 100 company should split its oil and renewable assets into separate businesses to both drive better returns and greater investment, and stop trying to be “all things to all people”. read more

royaldutchshellplc.com and its also non-profit 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 on Path to Miss Own Emission Reduction Goals, Report Says

Bloomberg

Shell on Path to Miss Own Emission Reduction Goals, Report Says

By Laura Hurst: 22 October 2021, 07:00 BST

Global Climate Insights study sees emissions rising by 2030
Company says it fully intends to meet future targets

Royal Dutch Shell Plc is on track to miss its own emission reduction targets in the coming decades, even as the company faces more stringent climate requirements from a court ruling, a new study shows.

The energy giant is seeking to gradually reduce its carbon emissions, with the goal of achieving net-zero by 2050. Shell isn’t forecast to achieve its goals after 2022, according to the report by Global Climate Insights. read more

royaldutchshellplc.com and its also non-profit 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 companies missed transition pivot

Petroleum Economist

Oil companies missed transition pivot

Shell and activist investor both agree that mistakes were made in the ’00s

“We gave up wind 15 years ago, which was a strategic mistake,” Shell CEO Ben van Beurden admitted in an October Ted event otherwise overshadowed by the executive being on the end of a withering personal attack by a climate campaigner.

And Chris James, co-founder of investor Engine No.1, agrees that oil firms such as Shell should have switched to more transition-focused businesses before the 2008 financial crisis. “There was an opportunity, about 15 years ago, for the oil and gas industry to lean very heavily into renewables and to really start the energy transition,” says James. “That is when they had a cost-of-capital advantage, that is when they had great balance sheets. But it did not happen… read more

royaldutchshellplc.com and its also non-profit 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 is looking to develop a huge floating offshore wind farm in South Korea

Shell is looking to develop a huge floating offshore wind farm in South Korea

Anmar Frangoul: CNBC: PUBLISHED FRI, SEP 3 20217:48 AM EDT

A joint venture centered around the development of a massive floating offshore wind farm in waters off South Korea has been formally established.

Oil and gas major Shell has an 80% stake in the JV, which is called MunmuBaram, with the remaining 20% held by CoensHexicon. The latter is itself a joint venture between South Korea-headquartered COENS and Swedish firm Hexicon.

In a statement earlier this week Shell said the project was in what it described as “a feasibility assessment stage.” If built, the 1.4 gigawatt wind farm would be situated between 65 and 80 kilometers off Ulsan, a coastal city and industrial hub in the south east of the country. read more

royaldutchshellplc.com and its also non-profit 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 to supply green energy directly to home consumers

Photo Credit: Photographic Services, Shell International Limited.

NL TIMES

Shell to supply green energy directly to home consumers

THURSDAY, AUGUST 26, 2021 – 14:30

Dutch oil and gas giant Shell will soon start supplying Dutch home consumers with “CO2 compensated gas” and green electricity purchased from Dutch solar and wind farms. The company already received a permit from regulator ACM to start doing so, NOS reports.

Exactly how much green energy Shell plans to supply is not clear, but Barbara van Bergh, head of this division, told NOS that Shell wants to become a “significant” player. read more

royaldutchshellplc.com and its also non-profit 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 and Scottish Power bid to build floating wind farm

BBC NEWS

Shell and Scottish Power bid to build floating wind farm

16 JULY 2021: Energy giant Shell has teamed up with Scottish Power to bid to develop large floating wind farms off the coast of north east Scotland.

They have joined an auction for the next generation of wind farms at 15 seabed areas.

Crown Estate Scotland, which manages the seabed, is closing submissions for the ScotWind Leasing process on Friday.

Italian oil giant Eni was already among other companies interested in the leasing round. read more

royaldutchshellplc.com and its also non-profit 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 and Scottish Power submit plans for floating offshore windfarms

The Guardian

Shell and Scottish Power submit plans for floating offshore windfarms

Jillian Ambrose Energy correspondent: Fri 16 Jul 2021 00.01 BST

Royal Dutch Shell has joined forces with Scottish Power to develop the world’s first large-scale floating offshore windfarms in the north-east of Scotland.

The energy companies have submitted multiple plans for a string of large floating offshore windfarms to Crown Estate Scotland as part of the property manager’s latest leasing round for access to the coastline. read more

royaldutchshellplc.com and its also non-profit 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 Gets Greener, Even as Climate Advocates Say, ‘Go Faster’

THE NEW YORK TIMES

Shell Gets Greener, Even as Climate Advocates Say, ‘Go Faster’

Royal Dutch Shell, though still reliant on profits from fossil fuels, is investing more in renewable energy. Critics say the changes have to come quicker.

June 18, 2021

Like other oil giants, Shell is under pressure to move away from climate-damaging fossil fuels, and it is recasting itself as more of a renewable energy company, looking for investments as it sidles toward a new future.

Limejump is the type of business that catches the eye of Shell executives these days. With 80 software engineers, traders and forecasters, the company buys electricity from 675 wind farms, solar installations and other mostly renewable generators scattered across Britain, and sells it to businesses that want their energy to be green. read more

royaldutchshellplc.com and its also non-profit 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 wins $2.5 billion Australian power contract with battery storage

Reuters

Shell wins $2.5 billion Australian power contract with battery storage

SYDNEY (Reuters) -Australia’s New South Wales (NSW) state said on Tuesday it has awarded a A$3.2 billion ($2.5 billion) 10-year power supply contract to Royal Dutch Shell PLC, which includes supplying battery back-up power for wind and solar energy.

Under a deal with Edify, Shell has contracted to take 60% of the battery’s power.

“This long-term services agreement is a model for how large energy users can access dispatchable power like battery storage, which complements renewables,” Shell Energy Chief Executive Greg Joiner said in a statement.

FULL ARTICLE

royaldutchshellplc.com and its also non-profit 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 Majors Look to Fill Businesses’ Growing Appetite for Green Power

THE WALL STREET JOURNAL

Oil Majors Look to Fill Businesses’ Growing Appetite for Green Power

By Sarah McFarlane: May 24, 2021 7:00 am ET

Businesses are buying more renewable power, and oil majors want a piece of the action.

European oil companies including BP PLC and Royal Dutch Shell PLC are building new wind and solar projects and striking deals to supply electricity to big corporate buyers like Amazon.com Inc. and Microsoft Corp., treading into the domain of traditional power companies.

Oil companies say securing long-term deals to supply electricity will provide a new source of income and underpin their expansion into wind and solar power as they seek to reduce their dependence on fossil fuels and prepare for a lower-carbon economy. read more

royaldutchshellplc.com and its also non-profit 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 And Coal Firms Guilty Of ‘Great Deception’ Through Greenwashing, Say Climate Lawyers

Oil And Coal Firms Guilty Of ‘Great Deception’ Through Greenwashing, Say Climate Lawyers

David Vetter: Senior Contributor Sustainability Climate research, renewables and circularity: 19 April 2021

A team of U.K. lawyers today released what they say is new evidence showing that the world’s biggest fossil fuel companies are systematically “greenwashing” their image to make the public believe they are taking concrete steps to combat climate change. In reality, the lawyers say, the firms are committed to increasing the sale of fossil fuels, which will inevitably generate more greenhouse gas emissions. read more

royaldutchshellplc.com and its also non-profit 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 plays down risk of stranded oil and gas reserves

Shell plays down risk of stranded oil and gas reserves

Ron Bousso: April 15, 2021 Royal Dutch Shell said on Thursday the majority of its oil and gas reserves will be produced by 2050, playing down the risk of stranded assets as it prepares to reduce its greenhouse gas emissions in the coming decades.

The disclosure is a rare admission by a major oil and gas company that some of its reserves may be worthless in a world shifting to renewable energy from fossil fuels in an effort to stem global warming.

The Anglo-Dutch company said in a document to investors summarising its climate strategy that around 75% of its proved oil and gas reserves will be produced by 2030, with an additional 3% produced after 2040.

Since late 2019, Shell has wiped out over $20 billion from the value of its oil and gas reserves after lowering the outlook for commodity prices because of the energy transition and the impact on demand of the COVID-19 pandemic. read more

royaldutchshellplc.com and its also non-profit 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 takes control of first Dutch offshore wind farm

Shell takes control of first Dutch offshore wind farm

30 March 2021

Shell has acquired Vattenfall’s 50% share in the 108MW Egmond aan Zee offshore wind farm, one of the first to be built.

Following the transaction Shell is the 100% owner of NoordzeeWind that manages the asset.

Vattenfall head of asset management Kasper Simonsen said: “The lessons we have learned from the first Dutch offshore wind farm can be applied in the construction of Hollandse Kust Zuid and other future offshore wind farms. read more

royaldutchshellplc.com and its also non-profit 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.

As the Shift to Green Energy Speeds Up, Shell’s Big Natural-Gas Bet Is at Risk

Shell has written down the value of some of its gas assets, including its Queensland Curtis project in Australia.

As the Shift to Green Energy Speeds Up, Shell’s Big Natural-Gas Bet Is at Risk. The fuel faces growing environmental scrutiny and competition from cleaner energy sources

By Sarah McFarlane: March 27, 2021 5:30 am ET

LONDON— Royal Dutch Shell PLC bet big on natural gas as the energy source of the future when it bought BG Group for $54 billion. Five years later, it appears the gas era won’t last long. read more

royaldutchshellplc.com and its also non-profit 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 and Eneco sign offshore grid deal to power a million Dutch homes

Shell and Eneco sign offshore grid deal to power a million Dutch homes

Together, they will build the offshore grid connection for the Hollandse Kust wind farm

Dimitris Mavrokefalidis: Monday 8 March 2021

Shell and Eneco have agreed to build the offshore grid connection for the Hollandse Kust wind farm in the Netherlands.

The wind farm, which has a total capacity of 759MW and is scheduled to be operational in 2023, is forecast to produce energy equivalent to the consumption of more than one million homes.

The agreement was sealed with the Dutch transmission system operator TenneT and will allow the group to connect and transmit power from the wind farm. read more

royaldutchshellplc.com and its also non-profit 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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