News and information on Royal Dutch Shell Plc
Oil And Coal Firms Guilty Of ‘Great Deception’ Through Greenwashing, Say Climate Lawyers
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.
Shell, Exxon Look to Profit From Capturing Customers’ Carbon Emissions
Big oil companies are exploring charging for carbon storage, hoping to benefit from the drive to reduce emissions
By Sarah McFarlane: April 19, 2021 5:30 am ET
Oil companies have for decades made money by extracting carbon from the ground. Now they are trying to make money putting it back.
Energy giants such as Exxon Mobil Corp. and Royal Dutch Shell PLC are pushing carbon capture and storage—where carbon is gathered and buried underground—as part of a drive to reduce both their own and their customers’ emissions. Executives say the service could become a new source of income when the industry is grappling with how to adapt to a lower-carbon economy.
Shell Urges Shareholders to Reject Activist Climate Plan
(Bloomberg) — Royal Dutch Shell Plc’s board has urged shareholders to reject a climate resolution filed by Dutch activist investor Follow This in favor of its own energy transition plan, which the company will put to a vote next month.
The Anglo-Dutch major said that the Follow This resolution, which asks Shell to set and publish targets consistent with the goals of the Paris climate agreement, is “redundant” given its own “more comprehensive strategy,” according to a company notice.
Shell flags shrinking oil, gas reserves life in energy transition document for shareholders
HIGHLIGHTS
Two-thirds of proved reserves to be produced by 2040
Comes amid rising concerns over future asset write-offs
Shell expects oil production to slide by 1-2% in coming years
London — Shell expects to have produced about two-thirds of its existing oil and gas reserves over the next two decades, the company said April 15, highlighting its falling exposure to future oil prices as the major shifts focus to renewable energy and electricity supplies.
Zik Gbemre: ON HOW TO REVAMP NIGERIA’S UPSTREAM AND DOWNSTREAM OIL & GAS SECTOR
3 APRIL 2021
With recent reports that the President Muhammadu Buhari-led Federal Executive Council (FEC) had approved a whopping $1.5 billion to rehabilitate the epileptic Port Harcourt refinery, I consider it a national tragedy and a shame of a nation that Nigeria, despite its over fifty decades of oil and gas exploration and production activities, has been exporting its hugely produced crude oil and natural gas at commercial quantity and then import ‘refined petroleum products’ at higher costs to satisfy domestic demands. The said move, according to the government, is to ensure that the obsolete Port-Harcourt refinery, which last benefitted from a Turn-Around Maintenance (TAM) work in 2000, comes back to life, while also supposedly contributing to the development of Nigeria’s oil sector.
Oil companies defeat New York City appeal over global warming
NEW YORK (Reuters) -A federal appeals court on Thursday rejected New York City’s effort to hold five major oil companies liable to help pay the costs of addressing harm caused by global warming.
Ruling in favor of BP Plc, Chevron Corp, ConocoPhillips, Exxon Mobil Corp and Royal Dutch Shell Plc, the 2nd U.S. Circuit Court of Appeals in Manhattan said the regulation of greenhouse gas emissions should be addressed under federal law and international treaties.
Shell to link executive pay more closely to group’s climate performance
LONDON (Reuters) – Royal Dutch Shell has proposed linking its directors’ pay more closely to the group’s climate performance and severing the link between bonuses and liquefied natural gas (LNG) production volumes, it said on Monday.
The weighting of Shell’s energy transition performance on its targeted path to net zero emissions by 2050 would double to 20% of the directors’ long-term incentive plan calculation if shareholders vote for the plan at a meeting on May 18.
Shell Plans To Double Down On Strengths As A Retailer In New Net-Zero World
Green Tech: Mar 29, 2021
I cover the energy industry, focusing on climate and green tech
Anglo-Dutch oil giant Royal Dutch Shell’s plan to reach net zero emissions by 2050, unveiled last month, focuses heavily on selling low-carbon electricity, biofuels and hydrogen directly to households and electric vehicle owners.
The strategy marks a contrast with that of other European oil majors, who in their own plans to reach net-zero emissions have vowed to accumulate vast amounts of renewable power generation capacity in the form of wind and solar assets.
Oil titans vow climate collaboration with White House
, March 23, 2021Updated: March 23, 2021 8:24 a.m.Chief executives of some of the largest U.S. oil companies promised to collaborate with the Biden administration in its campaign against climate change during a meeting Monday with White House National Climate Adviser Gina McCarthy.
The oil industry leaders pledged support for federal regulations explicitly limiting emissions of methane from wells and other oilfield equipment — a declaration that dovetails with President Joe Biden’s vow to clamp down on leaks of the potent greenhouse gas.
Shell’s 2020 carbon emissions fall on the back of fuel sales drop
LONDON (Reuters) – Royal Dutch Shell, owner of the world’s largest fuel retail network, said on Thursday its total greenhouse gas emissions dropped 16% in 2020 as oil and gas sales fell sharply due to the coronavirus pandemic.
Shell said in its annual report that total emissions from its oil wells to forecourt fuel sales fell to 1.38 billion tonnes of carbon dioxide equivalent last year, from 1.65 billion in 2019.
Shell changes senior UK leadership in global overhaul
LONDON (Reuters) – Royal Dutch Shell is changing the senior leadership of its operations in Britain as part of a global overhaul to cut costs and shift away from oil and gas to renewables and power.
Under the changes, which have been announced internally, country chair Sinead Lynch will become Shell’s global head of low-carbon fuels, a company spokeswoman said.
Lynch, who joined the Anglo-Dutch company in 2016 following its acquisition of BG Group, will be replaced by David Bunch who currently runs Shell’s retail business across Europe and South Africa. Bunch joined Shell in 1997.
How the Oil Lobby Learned to Love Carbon Taxes
The American Petroleum Institute may come out in favor of a carbon price, a sign of Washington’s dramatic move toward climate-friendly policy.
By Jennifer A Dlouhy and Leslie Kaufman: 4 March 2021, 07:00 GMT
Few saw the surprise disclosure earlier this week that the American Petroleum Institute is considering endorsing a price on carbon dioxide emissions and thought the fierce fossil fuel lobby was suddenly becoming climate-friendly. Rather, seasoned industry-watchers say it’s the clearest sign yet that fossil fuel companies see Washington’s shift on climate policy as a real and significant threat.
Which Banks Are The Biggest Backers Of Oil And Gas?
About a month ago, BlackRock Inc.(NYSE:BLK), the world’s largest asset manager with $9 trillion in assets under management (AUM), sent shockwaves through the fossil fuel sector after it vowed to double down on climate activism by backing more shareholder resolutions on climate change and social issues in 2021.
Around the same time, the $226 billion New York State pension fund and the $5B Rockefeller Brothers Fund announced plans to divest the majority of their fossil fuel investments and also sell shares of other companies that have been actively contributing to global warming.
Shell unveils green strategy after oil output peak
Energy giant Royal Dutch Shell declared Thursday that its oil output is locked in decline after peaking in 2019 as it outlined green plans to switch away from fossil fuels.
Shell said in a statement that it will invest up to $6.0 billion (4.9 billion euros) per year in green energy projects developing and promoting biofuels, electric car charging and renewables.
More than half the amount could end up being spent on marketing, Shell said.
In addition, Shell plans to still invest $8 billion annually on new oil and gas exploration.
Shell’s Strategy Is Satisfactory
The Global Investor: Feb. 14, 2021The purpose of this article is to analyze Shell’s recent and very important Strategy Day. Shell had promised to give a lot of detail on an organizational restructuring at this event and it had the potential to radically change Shell’s direction. This means the Strategy Day presentations had a possibility to change my bullish thesis on the company. In that article I also gave some of my expectations of what I expected to see in Shell’s Strategy Day, and here I review the key takeaways of the Strategy Day and what they mean for my bullish thesis.
Editorial: Big oil confronts climate change – not a minute too soon
On Thursday, one of the world’s largest oil companies — Royal Dutch Shell — confirmed it will never again produce as much oil as it did in 2019. Peak oil production at Shell, said CEO Ben van Beurden, has come and gone.
The week before, ExxonMobil had made a similarly telling announcement: It is spending billions on a subsidiary formed to advance technologies to reduce the company’s carbon emissions and develop new products to help its customers do the same.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
: It's all in the ground Simon! https://www.wsj.com/amp/articles/shell-exxon-look-to-profit-from-capturing-customers-carbon-emissions-11618824602
: ON HOW TO REVAMP NIGERIA’S UPSTREAM AND DOWNSTREAM OIL & GAS SECTOR With recent reports that the President Muhammadu Buhari-led Federal Executive Council (FEC) had approved a whopping $1.5 billion to rehabilitate the epileptic Port Harcourt refinery, I consider it a national tragedy and a shame of a nation that Nigeria, despite its over fifty decades of oil and gas exploration and production activities, has been exporting its hugely produced crude oil and natural gas at commercial quantity, and then import ‘refined petroleum products’ at higher costs to satisfy domestic demands. The said move, according to the government, is to ensure that the obsolete Port-Harcourt refinery, which last benefitted from a Turn-Around Maintenance (TAM) work in 2000, comes back to life, while also supposedly contributing to the development of Nigeria’s oil sector. We Mobilize Others To Fight For Individual Causes As If Those Were Our Causes https://ndpc-zik.org/publications/on-who-to-revamp-nigeria-upstream-and-downstream-oil-and-gas-sector COMPLETE COMMENTS
: "Under the Hammer", again!https://www.reuters.com/article/us-tunisia-oil/tunisia-faces-exodus-of-western-oil-giants-idUSKBN2BI1XF
: Serica finally kicks-off development on Columbus, years after BG 'kicked them in the teeth'. https://www.upstreamonline.com/field-development/serica-energy-kicks-off-development-drilling-at-north-sea-field/2-1-982427
: https://www.egypttoday.com/Article/3/48093/Shell-to-develop-Phase-9B-of-WDDM-within-2-months
: I have mentioned before how the contaminated produced water from Shell's Western Delta Deep Marine gas fields, acquired during the takeover of BG Group, used to be tankered and dumped in the desert.Khaled Gad, Shell's Onshore and Offshore Asset Manager in Egypt, should be able to answer the question as to what now happens to the produced water from Shell's assets in Egypt.
: Selling off parts of the BG millstone. See: https://www.upstreamonline.com/lng/shell-completes-2-5bn-australian-lng-asset-sale/2-1-980042
: Further to Bogus Group's post, very little at BG Group was proven. The majority of their work was of low integrity and dissolved at the slightest scrutiny. This was to be expected with a 'do as I say, not do as I do' Line Management.
: https://trinidadexpress.com/business/local/shell-takes-biggest-hit/article_ca33aea4-73d5-11eb-8a6e-ff41b564d669.html It's surely been proven that BG proven reserves were not actually proven and that Shell did inherit a 'pig in the poke'. The statement “Our preference is to deal with these arrangements, not in a clandestine way but there is a deeper confidentiality to it. We have these arrangements all over the world. We need to ensure that we maintain a degree of confidentiality but what I will confirm is that hundreds of millions of US dollars converts to billions of TT dollars and we have confirmed that Trinidad will benefit to billions,”beggars belief.
: It is not clear why the once upon a time VP Developments, Brazil is now VP Subsurface Excellence, given that the Brazil Asset under her stewardship spent at least five years down a giant rabbit hole using a corrupt workflow that resulted in a significant overbooking of reserves.
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