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Shell to Take Part in Qatar’s LNG Expansion Project

yahoo!finance

Shell to Take Part in Qatar’s LNG Expansion Project

Shell plc SHEL recently joined the Qatari state-owned energy company – QatarEnergy’s $29-billion North Field East expansion project to expand output at the world’s biggest natural gas field, becoming the latest international partner in this ambitious megaproject.

This development, which is considered to be the single-largest project in the history of the liquefied natural gas industry, is quite significant, considering the soaring energy demand and the supply crisis following Moscow’s military action in Ukraine.

The London-headquartered oil supermajor will hold a 6.25% interest in the expansion project, with TotalEnergies and ExxonMobil also owning a 6.25% stake each.

Per Shell, the company’s investment in this project will support the delivery of the much-needed supplies of natural gas to markets worldwide and will also be integrated with carbon capture and sequestration to cut down emissions.

SHEL’s Chief Executive Officer, Ben van Beurden, said “This agreement deepens our strategic partnership with QatarEnergy, which includes multiple international partnerships,” and he further mentioned that Shell is committed to maximizing the value of the LNG expansion for the State of Qatar and becoming a trusted, dependable and long-term partner in Qatar’s continued progress.

The gulf state discovered one of the world’s largest gas reserves in the North Field in 1971. The development, however, is anticipated to augment Qatar’s output from the current 77 million tons a year to 110 million tons by 2027. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Exxon, Shell May Pursue Part of $1.8 Billion Nigerian Award–US Appeals Court

REUTERS

Exxon, Shell May Pursue Part of $1.8 Billion Nigerian Award–US Appeals Court

By

By Jonathan Stempel

NEW YORK (Reuters) – A U.S. appeals court on Friday said Exxon Mobil Corp and Royal Dutch Shell Plc affiliates may try to enforce part of a $1.8 billion arbitration award against Nigeria’s state-run oil company, in a dispute concerning oil extraction near the African country’s coastline.

It said the judge should have determined which parts of the award had been deemed enforceable by a Nigerian appeals court. Lawyers for the companies did not immediately respond to requests for comment. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell boosts oil and gas asset value as refining soars

Shell boosts oil and gas asset value as refining soars

REUTERS PUBLISHED THU, JUL 7 2022 3:26 AM EDT

Shell said on Thursday said it would reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its energy prices outlook following Russia’s invasion of Ukraine.

In an update before second quarter results on July 28, Shell said its refining margins almost tripled over the period, boosted by recovering global demand from the pandemic, a lack of refining capacity and lower fuel exports from Russia.

Earnings from oil and refined products trading were expected to be strong in the quarter but lower than the first quarter of 2022, Shell said.

Shell’s indicative refining margin rose in the second quarter to $28.04 per barrel from $10.23 a barrel in the first quarter and $4.17 a year earlier.

Oil and gas prices remained elevated in the quarter, with benchmark Brent crude averaging about $114 a barrel.

“In the second quarter 2022, Shell has revised its mid and long-term oil and gas commodity prices reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals,” it said.

Shell increased its assumed price for Brent to $80 a barrel in 2023, up from $60 in its 2021 annual report. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell, the Oil Giant, Will Sell Renewable Energy to Texans

The New York Times

Shell, the Oil Giant, Will Sell Renewable Energy to Texans

The European oil company has been expanding into green energy even as many U.S. energy giants have kept their focus on fossil fuels.

Clifford Krauss and : June 7, 2022 Updated 3:13 p.m. ET

HOUSTON — Shell said on Tuesday that it would begin selling electricity generated from renewable sources to residents and businesses in Texas, a move that brings the European oil company’s shift to green energy to the U.S. market.

The announcement underscores a widening gulf between the strategies of European and U.S. oil companies as elected leaders and consumers demand that the energy industry do more to tackle climate change. European businesses including Shell, BP and TotalEnergies are seeking to expand into renewable energy, electric vehicle charging and other fast-growing businesses as U.S. companies like Exxon Mobil and Chevron mostly keep their focus on oil and gas while investing in capturing carbon from industrial plants and biofuels.

Shell, which already has electricity businesses in nine countries, plans to double the amount of electricity it sells by 2030. The company, which is based in London, is Europe’s largest oil and gas business by revenue and has operations in more than 70 countries, including gas stations, refineries and oil and gas fields. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

‘Carbon bombs’ set to trigger catastrophic climate breakdown

The Guardian

Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown

Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns

by Damian Carrington and Matthew Taylor: Wed 11 May 2022

The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Big Oil braces for shareholder revolt over climate plans in proxy voting season

CNBC

Big Oil braces for shareholder revolt over climate plans in proxy voting season

Sam Meredith@SMEREDITH19

  • Oil and gas majors on both sides of the Atlantic are scheduled to hold their annual general meetings in the coming weeks.
  • The forthcoming proxy season comes amid intensifying pressure on Big Oil to set short- and medium-term targets in line with the landmark Paris Agreement.
  • At present, not a single oil and gas major is aligned with the Paris Agreement’s goal of curbing global heating to 1.5 degrees Celsius above pre-industrial levels.

LONDON — Some of the world’s largest corporate emitters face the prospect of a shareholder rebellion this month, with climate-related votes poised to spike throughout the proxy season.

Oil and gas majors on both sides of the Atlantic are scheduled to hold their annual general meetings in the coming weeks. Existing climate strategies are up for votes alongside a range of investor-led resolutions targeting emissions reductions. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Fossil fuel companies like Shell and BP are raking in massive profits, and this could be just the beginning

FORTUNE

Fossil fuel companies like Shell and BP are raking in massive profits, and this could be just the beginning

BY TRISTAN BOVE: May 5, 2022 8:33 PM GMT+1 Oil prices have been soaring this year, as Western sanctions hit the Russian economy hard, disrupting the global oil supply from one of the world’s largest producers. But while high gasoline prices at the pump make life difficult for consumers, fossil fuel companies are making a killing.Since the Russian invasion of Ukraine over two months ago, Brent crude, an international benchmark for oil pricing, has surged past $100 a barrel, the highest oil has sold for since 2012.

According to the latest round of quarterly reports from the world’s largest oil and gas companies, the fossil fuel industry has been benefiting massively from this surge. Demand for energy this year has soared as economies rebound from historically low demand during the pandemic, and coupled with a constrained supply from Russia, one of the world’s largest fuel exporters, the rest of 2022 could be just as profitable for fossil fuel companies. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

BP, Shell, Exxon Among Oil Giants Who Have Paid $100 Billion to Russian Gov’t Since 2014

democracynow.org

BP, Shell, Exxon Among Oil Giants Who Have Paid $100 Billion to Russian Gov’t Since 2014

March 28, 2022

On Saturday, Ukrainian President Volodymyr Zelensky addressed the Doha Forum in Qatar, asking oil- and gas-producing countries to up their output to reduce reliance on Russian imports.

This comes as new data reveal Western oil giants including BP, Shell and Exxon have poured nearly $100 billion into Russian fossil fuel projects since its 2014 invasion of Crimea.

The analysis was released by Global Witness, Greenpeace USA and Oil Change International. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Dutch watchdog says gas production at Groningen remains unsafe

Reuters

Dutch watchdog says gas production at Groningen remains unsafe

AMSTERDAM, March 8 (Reuters) – A Dutch watchdog said on Tuesday that gas production from Groningen field remained a safety threat, as Europe races to find other sources of the fuel to wean itself off Russian supplies in the wake of Moscow’s invasion of Ukraine.

The Dutch government has been winding down Groningen for years because production triggers earthquakes in the area and it plans to cease output entirely by October. But the government has not ruled out a change course in an emergency. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell buys Russian oil days after saying it would limit business with the country for its ‘senseless act of military aggression’ against Ukraine

Shell buys Russian oil days after saying it would limit business with the country for its ‘senseless act of military aggression’ against Ukraine

  • Shell announced on Saturday it purchased Russian oil to prevent market interruptions and ensure supply security.
  • Shell previously said it would limit business with Russia, including divesting from Gazprom, a Russian majority state-owned energy company.
  • “We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply,” Shell said.

Shell announced it purchased a cargo of crude Russian oil, just days after the oil giant said it would limit business with the country in response its “senseless act of military aggression” against Ukraine.

In a statement shared to Twitter on Saturday, Shell said it made “the difficult decision” to buy the oil from Russia — the world’s third-largest oil producer and a major gas exporter to Europe — citing concerns over market interruptions and supply security. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Oil and gas firms have unlisted links to Westminste

The Guardian/ The Observer

Oil and gas firms have unlisted links to Westminster

Shanti Das: Sun 20 Feb 2022 

Lobbyists representing fossil fuel giants are quietly helping run parliamentary groups on energy and climate policy without the need to formally declare their involvement.

The trade associations, which are funded by oil and gas producers including Shell, BP and ExxonMobil, provide administrative and public relations support to groups of MPs.

Their roles are not included in official parliamentary transparency logs because of rules that say only benefits in kind above £1,500 a year must be recorded – a threshold the trade bodies say they do not meet. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

The great greenwashing scam: PR firms face reckoning after spinning for big oil

The Guardian

The great greenwashing scam: PR firms face reckoning after spinning for big oil

A comprehensive study confirms that oil companies are largely all talk and no action when it comes to clean energy initiatives

Amy Westervelt: @amywestervelt: Fri 18 Feb 2022 11.00 GMT

This week a peer-reviewed study confirmed what many have suspected for years: major oil companies are not fully backing up their clean energy talk with action. Now the PR and advertising firms that have been creating the industry’s greenwashing strategies for decades face a reckoning over whether they will continue serving big oil. The study compared the rhetoric and actions on climate and clean energy from 2009 to 2020 from the world’s four largest oil companies – ExxonMobil, Chevron, Shell and BP. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

State mining supervisor wants to halt gas extraction in Groningen

NL TIMES

State mining supervisor wants to halt gas extraction in Groningen

MONDAY, FEBRUARY 7, 2022 – 07:00

It is “really very undesirable” to extract more natural gas in Groningen, said Theodor Kockelkoren, inspector-general with the State Supervision of Mines…

Gas extraction in Groningen has been causing earthquakes for years, damaging houses. Kockelkoren said in the broadcast that two things are necessary to improve safety in the area: “Reduce gas production to zero as quickly as possible, and strengthen the houses that need it. From my perspective on the safety of the people in Groningen, raising gas production now is really a bad idea.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Oil industry board members to testify to Congress on climate disinformation

The Guardian

Oil industry board members to testify to Congress on climate disinformation

Officials from Exxon, Shell, Chevron and BP have been summoned to appear before the House oversight committee in February

Reuters: Fri 21 Jan 2022 14.34 GMT

A US congressional committee has invited board members at four large oil companies to testify in February about the industry’s role in the climate crisis and spreading “disinformation”, turning up the heat on big oil after lawmakers grilled their CEOs last year. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Thousands of Groningen gas opponents demand earthquake damage compensation

NL TIMES

Thousands of Groningen gas opponents demand earthquake damage compensation

SUNDAY, JANUARY 16, 2022

An estimated eight to ten thousand people in Groningen took part in a torchlight procession against gas extraction in the province. The municipality was satisfied with the protest, which drew attention to the people living in the earthquake area.

The protest was organized in response to the Cabinet’s decision to double gas production. Protesters were also upset at the poor organization of subsidies for homeowners to strengthen their homes and make them more sustainable. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Dutch Cabinet increases funding for Groningen earthquake victims after chaos

DutchNews.nl

Dutch Cabinet increases funding for Groningen earthquake victims after chaos

January 15, 2022

The cabinet has agreed to allocate an extra €250m to improve homes in parts of Groningen affected by earthquakes after the initial €220m fund ran dry on the first day following a flood of applications.

Long queues formed in towns and villages in the northern province on Monday at council offices where people could claim up to €10,000 per household for renovations.

Hans Vijlbrief, the junior minister charged with sorting out the Groningen gas problems, told MPs on Friday that the new allocation of cash will allow everyone entitled to the grant to make a claim. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.