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The Times: Shell rejects ‘arms race’ with BP over carbon cuts

Friday February 21, 2020

Royal Dutch Shell will not “get into an arms race” with BP over carbon targets, a senior executive has said, in a sign that Europe’s biggest oil group will not rush to match its rival’s “net zero” pledge.

The Anglo-Dutch group was the first oil major to set long-term ambitions related to emissions from customers using its products, pledging in 2017 to halve the intensity of its carbon footprint by 2050.

BP had been seen as a laggard on climate targets but last week Bernard Looney, its new chief executive, leapfrogged rivals with an ambition to eliminate the carbon footprint of all the oil and gas it produces by 2050. read more

royaldutchshellplc.com and its 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.

WSJ: Shell Aims to Enroll Thousands in Online Artificial-Intelligence Training

By Sara Castellanos: Updated Feb. 13, 2020 3:57 pm ET

Royal Dutch Shell PLC is expanding an online program that teaches its employees artificial-intelligence skills, part of an effort to cut costs, improve business processes and generate revenue.

The Anglo-Dutch oil company, which has about 82,000 employees, said about 2,000 have expressed interest in or have been approached by management about taking AI courses through online-education company Udacity Inc. They include petroleum engineers, chemists and geophysicists, among others.

The courses are voluntary, not required, and employees can complete them at their own pace during work hours, Shell said. The oil company covers the cost of the training. read more

royaldutchshellplc.com and its 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.

Bloomberg: BP’s bold goal: Eliminate or offset its carbon emissions

BLOOMBERG: FEB. 12, 2020 2:50 PM

BP’s new boss set out the boldest climate goal of any major oil company, pledging Wednesday to eliminate almost all of the carbon emissions from BP operations and the fuel it sells to customers.

Bernard Looney, who has been the company’s chief executive for just a week, set an ambitious agenda for what’s becoming an existential challenge for the oil industry. While peers such as Royal Dutch Shell, Total and Equinor have responded to investor pressure by adopting targets for emissions curbs, none has promised to zero out all emissions from the fossil fuels they pump from the ground. read more

royaldutchshellplc.com and its 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.

Bloomberg: All eyes on Exxon and Chevron after BP pledges to go carbon neutral

KEVIN CROWLEY: FEB. 12, 2020: 2:31 PM

BP’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change, increasing the pressure for Exxon Mobil Corp. and Chevron Corp. to do more.

The U.S. giants have committed only to reducing greenhouse gases from their own operations. On Wednesday, BP followed Royal Dutch Shell and Equinor in pledging to offset the carbon emissions from the fuels they sell. Known as Scope 3, the emissions from cars, homes and factories are responsible for 90% of fossil fuel pollution. read more

royaldutchshellplc.com and its 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.

Reuters: BP Boss Looney Sets Out to ‘Reinvent’ Oil Giant With Zero Carbon Goal

BP Boss Looney Sets Out to ‘Reinvent’ Oil Giant With Zero Carbon Goal

Reuters: Feb. 12, 2020

LONDON — BP set one of the oil sector’s most ambitious targets for curbing carbon emissions on Wednesday as new chief executive Bernard Looney began the biggest revamp in its 111-year history.

While investor groups welcomed the 2050 targets set out by Looney, which put BP ahead of rivals Royal Dutch Shell, Total, Equinor and all of the U.S. oil majors, environmental campaigners criticized a lack of detail.

“We have got to change and change profoundly because the world is changing fast and so are society’s expectations of us,” Looney said in his first major speech as CEO, after earlier highlighting a need to “reinvent BP”. read more

royaldutchshellplc.com and its 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.

The Guardian: Big oil entering a “death knell” phase

BP, Shell, Chevron and Exxon have made almost $2tn in profits in the past three decades as their exploitation of oil, gas and coal reserves has driven the planet to the brink of climate breakdown, according to analysis for the Guardian.

The scale of their profits is revealed as experts say the fossil fuel boom is coming to an end, with big oil entering a “death knell” phase, according to one prominent Wall St commentator.

Analysis for the Guardian by Taxpayers for Common Sense in the US reveals that since 1990 – at which point the impact of fossil fuel extraction on the climate had been well known to industry leaders and politicians for years, experts say – the big four companies have accumulated $1.991tn in profits. read more

royaldutchshellplc.com and its 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 sector is unloved, but holding up under pressure – HSBC

Oil sector is unloved, but holding up under pressure – HSBC

** HSBC says the global integrated oil sector is holding up well despite combined pressure of price and margin weakness

** Brokerage upgrades Royal Dutch Shell to “buy” from “hold”, saying its financial framework is not at a significant risk

** However, says Shell’s current free cash flow breakeven is above average for the sector

** BP Plc and Total SA remain at low risk, and BP is HSBC’s preferred stock with best company-specific catalysts this year read more

royaldutchshellplc.com and its 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.

EnergyVoice.com: With Big Oil’s future in doubt, new BP boss gets ready to set out vision

As BP Plc’s new chief delivers his vision to transform the company on Wednesday, investors and activists want to know just how much appetite he has to take on the existential crisis facing the oil industry.

12 February 2020

Bernard Looney’s big challenge will be to navigate BP through an energy transition with the world falling out of love with oil, and louder demands from investors to pivot toward clean energy. When climate protesters forced the company to shut its London headquarters last week, the 49-year-old Irishman promised them he would address their concerns.

BP is already taking some modest steps to address climate change, including investment in renewables and selling some of its most carbon-intensive assets. But it remains an oil major through and through, still very much the company that tapped the first fields in Iran early in the last century and drilled wildcat wells on the Alaskan frontier more than 60 years ago. read more

royaldutchshellplc.com and its 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.

Big Oil Climate Suits

MARIA DINZEO: FEB 5, 2020

(CN) – The Ninth Circuit waded into a thorny jurisdictional dispute Wednesday over whether federal or state law governs a spate of city and county lawsuits against oil and gas giants like BP and Chevron.

In 2017, Oakland and San Francisco filed twin lawsuits demanding billions of dollars from the big oil and gas companies to abate the public nuisance of global warming, caused by an alleged 50-year disinformation campaign designed to deny and discredit climate change science. read more

royaldutchshellplc.com and its 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.

Risk of a sharp collapse in asset prices of oil companies

The $1.3trn cost of leaving energy underground

Unless a solution is found for climate change in the coming decade, there is a risk of a sharp collapse in asset prices of oil companies. 

Alan Livsey: Feb 5, 2020

Donald Trump was thinking about the teenage climate activist Greta Thunberg when he took aim at what he called the “prophets of doom” at Davos in January. But just as easily he could have been targeting global investors whose trenchant criticism of hydrocarbons has led to a shift in investment away from the traditional energy sector and into renewables.

This move represents a big problem for energy groups such as Exxon, BP and Saudi Aramco. Vast swaths of their oil, gas and coal reserves may never be extracted and burnt because doing so would intensify global warming, worsening weather events and threatening the loss of farmland and huge population displacement. read more

royaldutchshellplc.com and its 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.

The Herald: Oil and gas firms have difficult questions to answer on climate change

By Mark WilliamsonGroup Business Correspondent

AS Shell boss Ben van Beurden hailed a strong recent performance by the oil giant last week a note of irritation crept into the tone of the normally affable-sounding executive.

Asked if the Anglo-Dutch giant would maintain investment in the North Sea following disruption by climate change activists in Scotland, Mr van Beurden saw no reason why it should not.

Shell boss highlights potential of North Sea and defends oil giant’s respose to climate change

His comments suggested he felt noisy protests were stifling the debate about how the world should respond to the challenge. read more

royaldutchshellplc.com and its 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.

The Guardian: Greenpeace blocks BP HQ with solar panels on new CEO’s first day

Greenpeace members have blocked BP’s headquarters with solar panels and oil barrels to mark Bernard Looney’s first day as chief executive.

About 100 environmental activists took 500 solar panels to the central London building at 3am on Wednesday as Looney prepared to take up his new role. Some protesters sat underneath the solar panels after they were prevented from installing them on the pavements and roads near the office. read more

royaldutchshellplc.com and its 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.

FIRST MAJOR GLOBAL NEWS ORG TO BAN ADVERTISING FROM OIL AND GAS INDUSTRY

Extracts from an email John Donovan received today from The Guardian newspaper.

Dear John,

One of the cardinal rules of news reporting is to keep yourself out of it. We are here to tell stories about other people, not about ourselves. Very occasionally, there are exceptions that warrant a personal touch, but in general reporters should take steps to ensure that their copy does not succumb to an I-infection.

Last week we broke the rule with some news about the Guardian. We declared that we will no longer accept advertising from fossil fuel extractive industries. read more

royaldutchshellplc.com and its 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 Prelude it appears has inherited the North Sea chronic disease of loss of containment

By Bill Campbell

On 22 January past the Regulator wrote to Shell Australia with a direction, a mandatory notice requiring action by the Owner, because staff on Prelude FLNG were carrying out activities the risks of which were not being reduced to levels as low as reasonably practicable and thus there was a significant risk to the Health and Safety of persons on the facility.

In issuance of this direction, they took cognisance of three previous dangerous occurrences all resulting in a loss of containment, namely read more

royaldutchshellplc.com and its 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.

NYT: Church of England Devises an Index for Climate-Conscious Investing

JAN 31, 2020

Many investors would like to use their money to help tackle climate change, but figuring out how has not always been easy. Now a fund that benefits 38,000 current and retired clergy and other employees of the Church of England could offer a potential solution.

The Church of England Pensions Board, which manages 2.8 billion pounds (or $3.7 billion), this week announced an index that rewards companies working to curb their carbon-dioxide emissions in line with the targets of the 2015 Paris agreement, and bars companies that are perceived as environmental laggards. read more

royaldutchshellplc.com and its 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.

New York Times: Climate Change Activists Block Shell Headquarters, 30 Detained

THE HAGUE — Environmental activists chanting “keep it in the ground” blocked the entrance to Shell’s headquarters in The Hague on Friday, protesting at the energy company’s role in climate change, until police dragged them away, detaining 30.

Some of the environmentalists from the Extinction Rebellion and Shell Must Fall! lobby groups wedged themselves between the glass front doors of the building. Others held banners and splashed a black liquid on its front steps, chanting slogans including “ExxonMobil, BP, Shell: take your oil and go to hell!” read more

royaldutchshellplc.com and its 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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