LONDON — Royal Dutch Shell said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened the energy price outlook.

The Anglo-Dutch company has already been preparing a major overhaul after CEO Ben van Beurden laid out plans in April to reduce Shell’s greenhouse gas emissions to net zero by 2050.

Global travel restrictions to prevent the virus spreading affected more than 4 billion people at one point, taking cars off the roads and grounding planes, driving down fuel demand. read more

“Over the coming months we will go through a comprehensive review of the company. Where appropriate we will redesign our organization to adapt to a different future…”

LONDON — Royal Dutch Shell will announce a major restructuring by the end of the year as the energy company prepares to accelerate its shift towards low-carbon, CEO Ben van Beurden told employees according to a company source.

In a video interview published on Shell’s internal website, van Beurden said that the restructuring would involve job cuts as part of broad cost reductions, although no figures have been decided yet, according to sources who saw the interview. read more

POSTING SAT 13 JUNE 2020 ON OUR SHELL BLOG

Money in the pockets?:

“And 8% to 12% currently we don’t even make in our upstream business” BvB… That performance includes the huge over runs on Corrib, Penn Chem, Prelude, multiple other LNG projects, Alaska Fiasco, and many other (not to mention OPL 245).

It is such an embarrassing comparison to ExxonMobil in projects like Liza, which is highly likely to exceed returns Shell is chasing as a utility. Brasil (or Mexico) have the capacity to deliver similar returns to Liza, if there was leadership and strategy for a long term development. read more

By Akshat Rathi and Laura Hurst: 9 JUNE 2020

Royal Dutch Shell Plc had been turning out about 2.7 million barrels of oil each day until the novel coronavirus took hold of the world. Demand for oil, the company’s core product, dropped almost a third in April, and the price of West Texas Intermediate briefly dipped into negative numbers for the first time.

It’s not easy to run an oil major when people suddenly stop needing oil. Chief Executive Officer Ben van Beurden responded by slashing spending and cutting Shell’s dividend for the first time since World War II. And, as critics warned, the company remains saddled with debt from its $53 billion acquisition of BG Group in 2015. read more

A Nightmare Scenario For Offshore Oil

Protesters chant ‘Shell must fall’ at oil major’s meeting

THE HAGUE (Reuters) – Dozens of demonstrators chanting “Shell must fall” gathered on Tuesday outside the oil giant’s headquarters in the Netherlands, where a virtual annual shareholders’ meeting was underway.

Roughly 30 activists from environmental groups Greenpeace, Extinction Rebellion and Code Red sang and danced in protest at the Hague offices of Royal Dutch Shell (RDSa.L).

Hundreds of activists had signed up to attend, but Dutch authorities allowed no more than 30 due to coronavirus distancing measures. read more

* European oil majors boost share of low-carbon investments

* European CEOs see faster energy transition after coronavirus

* GRAPHIC: European oil majors’ spending tilts green tmsnrt.rs/3dWh9VV

By Ron Bousso and Shadia Nasralla

LONDON, May 18 (Reuters) – Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel demand, according to a Reuters review of company statements and interviews with executives. read more

Shell wants to be net-zero emissions business by 2050

12 May 2020

Shell aims to be a net-zero emissions energy business by 2050, or sooner if possible, as it focuses on its intention to “lead and thrive” through the transition to a low-carbon energy future.

In a recent Responsible Investment Annual Briefing, the company’s chief executive, Ben van Beurden, revealed an ambition to be net zero on all the emissions from the manufacture of all Shell products by 2050 at the latest. read more

Shell, Eni lead oil majors’ climate ambitions but still fall short -investors

* TPI prefers Eni for including third-party fuels, setting absolute carbon reduction target

* TPI says sector’s “net zero” carbon future not substantiated

* More details needed on offsetting, renewables plans

* OMV currently laggard among integrated energy groups

By Shadia Nasralla

LONDON, May 12 (Reuters) – None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday. read more

By KATHERINE DUNN: April 16, 2020 4:07 PM GMT+1

Energy giant Royal Dutch Shell said Thursday it would aim to reduce its emissions to net-zero by 2050, making it the largest global oil and gas company in the world so far to sign on to the target. It’s a commitment that will fundamentally shift the nature of its business.

The target will cover emissions from the manufacture of its products, the company said. A net-zero goal means to reduce all possible emissions, while offsetting those that can’t be cut entirely; the 2050 target coincides with guidelines under the Paris climate change accord. read more

Shell sets oil sector’s broadest carbon reduction plans

LONDON, April 16 (Reuters) – Royal Dutch Shell on Thursday deepened its ambition to battle climate change, setting the oil and gas sector’s broadest plan to reduce greenhouse gas emissions to net zero by 2050.

The new climate goals put the Anglo-Dutch company – at least on paper – ahead of the most progressive of its rivals, including BP and Italy’s Eni.

“Society’s expectations have shifted quickly in the debate around climate change,” Chief Executive Officer Ben van Beurden said in a statement. read more

By Carl Meyer | News, Energy, Politics | March 4th 2020

A disputed environmental claim publicized by the fossil fuel firms backing a $40-billion liquefied natural gas project in B.C. can be traced back to a lifelong industry insider, who cautioned in interviews that his underlying calculations are “theoretical.”

Rob Seeley has been held up as an independent consultant who has demonstrated the green bona fides of natural gas coming from the proposed B.C. project, LNG Canada. The Coastal GasLink pipeline being built through unceded Wet’suwet’en Nation territory is meant to transport fracked gas to this terminal, where it would be liquefied, loaded onto ships and exported to Asia. read more

EXTRACTS (Entire New York Magazine article can be read here)

Since 2017, when I published a book about American millennials, I’ve had the occasional cold call from corporations to come talk about my work, all but one of which I’ve turned down. But last fall, the Shell Scenarios team — as in Royal Dutch Shell, one of the biggest oil companies in the world — offered me £2,000 in exchange for a 15-minute talk and my participation in a group exercise. Its internal corporate think tank was holding a daylong conference about how generational change would affect the hopefulness projected in what the company calls the “Sky Scenario,” which it describes as “a technically possible but challenging pathway for society to achieve the goals of the Paris Agreement.” I’m not a climate expert, but apparently I qualify as a generational whisperer, at least to Shell, and to talk to me about global warming, the giant energy conglomerate wanted to fly me to London from Philadelphia, business class. I warned them that I couldn’t keep their money and asked if I’d need to sign an NDA. When they said no, I saw an opportunity to report on the oil company, undercover while in plain sight, without technically lying to anyone. It was too good to pass up. I said yes, then I emailed my editor. read more

By Nick Cunningham – Mar 01, 2020, 4:00 PM CST

ExxonMobil saw its share price nosedive by roughly 15 percent in the past week, one in a series of oil companies that finds itself in a freefall.

Four other oil majors – Chevron, BP, Shell and Total – also declined sharply, dragged down by the worst weekly loss for oil prices in more than four years.

But the problems for the oil majors run much deeper than the coronavirus, and their share price declines have been underway for quite some time. read more

FEBRUARY 27, 2020 / 10:26 AM

AMSTERDAM (Reuters) – Oil and gas company Royal Dutch Shell and Dutch gas company Gasunie [GSUNI.UL] plan to build a massive green hydrogen plant in the northern Netherlands in the next decade, the companies said on Thursday, to cut emissions.

Fueled by a large new wind farm off the coast of Groningen province, the plant would ultimately be able to produce 800,000 tonnes of hydrogen by 2040, the companies said, cutting the Netherlands’ CO2 emissions by about 7 megaton per year. read more