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Shell warns of $22 billion hit from coronavirus price slump

London (CNN Business)Royal Dutch Shell is writing down the value of its assets by as much as $22 billion as lower oil prices push the Anglo-Dutch company to accelerate a shift away from fossil fuels.

Shell (RDSA) slashed its outlook for energy prices Tuesday, saying in a statement that it expects Brent crude to cost $40 per barrel in 2021 and $50 per barrel in 2022. Prices are forecast to rise to $60 per barrel in 2023.

The company said the changes to its price forecast reflect the economic trauma caused by the coronavirus pandemic, which has plunged countries around the world into recession and sharply reduced demand for energy. 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.

Concerns over ‘insanity’ of Shell South Africa fracking plans

Western Cape, South Africa (CNN) — South Africa has an energy deficit on its hands. Too many people want fuel for their cars and electricity for their homes, and the country is struggling to keep up with demand.

To help ease this perceived crisis the big companies want to start drilling for natural gas using a controversial drilling technique called fracking. Under the plans the drilling will be done in one of the most remote and beautiful places in South Africa, the Karoo. 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 Oil must aid workers abused overseas

By Marco Simons, Special to CNN February 27, 2012 — Updated 1932 GMT (0332 HKT)

Editor’s note: Marco Simons is the legal director at EarthRights International (ERI), a nongovernmental organization dedicated to protection of human rights and the environment worldwide. Marco oversees ERI’s Legal Program, which aims to hold corporations and other actors accountable for human rights and environmental abuses, and has represented victims in several transnational human rights cases in U.S. courts, including Doe v. Unocal, Wiwa v. Royal Dutch Petroleum Co. (Shell), Bowoto v. Chevron, and Doe v. Chiquita. He has co-authored numerous amicus briefs for ERI, including four briefs in the U.S. Supreme Court. 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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