Royal Dutch Shell Plc  .com Rotating Header Image

Posts Tagged ‘Oil’

Italy prosecutors ask for JPMorgan documents to be admitted in Eni, Shell Nigeria case

Italy prosecutors ask for JPMorgan documents to be admitted in Eni, Shell Nigeria case

By Reuters: JANUARY 21, 2021

MILAN (Reuters) – Italian prosecutors asked a Milan Court on Wednesday for documents sourced from U.S. bank JPMorgan to be filed as part of a corruption trial over the acquisition of an oilfield in Nigeria by Eni and Shell. The long-running graft case revolves around the purchase of the Nigerian OPL 245 offshore oil field in 2011 for about $1.3 billion. Prosecutors allege that about $1.1 billion of that was siphoned off to politicians and middlemen. 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.

Supreme Court questions Big Oil effort to duck liability

Pamela King, E&E News reporter published The Supreme Court expressed concern today that attorneys for the oil and gas industry were hiding elephants in mouse holes in a wonky jurisdictional battle with high stakes for climate change litigation.

During oral arguments in BP PLC v. Baltimore, justices posited that industry lawyers might be leveraging a dispute over a narrow technical question to quash lawsuits by state and local governments contending that energy companies should be on the hook for flooding, wildfires and other disasters fueled by rising global temperatures.

“It seems as though we are smuggling into appellate review other issues that are not necessarily the issues that are front and center of the federal law concerned,” Justice Clarence Thomas said to a government attorney arguing alongside lawyers for BP, Royal Dutch Shell PLC and other companies in the lawsuit. 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: What It Will Take To Be Investible Again

Conclusion: I Regard Shell As Uninvestable

Shell: What It Will Take To Be Investible Again

: Long Only, Deep Value, Growth, Foreign Companies: JAN 19, 2021

Summary

  • Shell’s dividend cut and unpredictability last year cost it a lot of shareholder confidence.
  • I outline three metrics I think show whether it’s investable again.
  • On all three metrics, I continue to see it as uninvestable with confidence.

U.K.-based oil major Shell (RDS.AOTCPK:RYDAF) didn’t have a great time of it last year when it came to shareholder relations. With its mammoth dividend cut and poor signaling thereof before it was made, a lot of shareholders ditched the holding. I sold my entire stake and reinvested the proceeds in more Exxon Mobil (XOM).

Below, I outline what I think are the key challenges to Shell being investable at this point. 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 to install Dutch solar park (30 MW) by November

Shell to install Dutch solar park (30 MW) by November

HERMAN MOESTUE: Oslo: 19 Jan 2021 15:52 CET (Montel) Anglo-Dutch energy giant Royal Dutch Shell plans to begin construction of its 30 MW Sas van Gent-Zuid solar park in southern Netherlands in March, with completion due in November, it said on Tuesday.

The solar installation in the province of Zeerland would be erected on a former industrial site, which is “one of the sunniest places” in the country, the firm added. 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.

FirstBank, Shell oppose Nigerian group’s bid to seize assets in oil spill dispute

FirstBank, Shell oppose Nigerian group’s bid to seize assets in oil spill dispute

YENAGOA/LAGOS (Reuters) – Nigeria’s FirstBank and a unit of energy giant Shell said on Friday members of a community in southern Nigeria had no right to seize assets from a bank branch this week in a dispute over compensation for an oil spill more than five decades ago.

Members of the Ejama-Ebubu community and law enforcement officers entered a FirstBank branch in Port Harcourt on Tuesday to seize assets following a court award relating to the spill that took place in the 1967-70 civil war. 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.

Justice Amy Coney Barrett to hear climate lawsuit against Shell – despite accusations of conflict of interest

Justice Amy Coney Barrett to hear climate lawsuit against Shell – despite accusations of conflict of interest

Despite her father’s long career at Shell, Justice Barrett is due to hear arguments in a case brought against the oil giant by the city of Baltimore next week, writes senior climate correspondent Louise Boyle: 16 JAN 2021

Activists at the Shell Centre, the UK offices of Royal Dutch Shell, as demonstrators surround the building during an environmental protest by the Extinction Rebellion group in London on April 15, 2019: AFP via Getty Images

Trump’s Supreme Court appointee, Justice Amy Coney Barrett, is set to hear legal arguments in a climate lawsuit against Shell next week amid conflict-of-interest accusations due to her father’s 30-year legal career at the oil giant. 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.

How Royal Dutch Shell is riding this huge trend

How Royal Dutch Shell is riding this huge trend

Jay Yao:

It’s becoming more and more clear that low carbon is the future for the energy industry.

The green sector is a huge and growing one as the world will need low carbon energy to fight against global warming. The world will also need green energy to continue developing economically.

Royal Dutch Shell (LSE: RDSB) management has taken notice of this huge trend and has adjusted its future plans. With the market having awarded many green energy companies with high valuations, I think there could be upside potential if the company executes correctly. 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 Shell Petroleum Development Company of Nigeria Limited completes sale of interest in Oil Mining Lease 17 in Nigeria

The Shell Petroleum Development Company of Nigeria Limited completes sale of interest in Oil Mining Lease 17 in Nigeria

Jan 15, 2021

The Shell Petroleum Development Company of Nigeria Limited (SPDC), has completed the sale of its 30% interest in Oil Mining Lease (OML) 17 in the Eastern Niger Delta, and associated infrastructure, to TNOG Oil and Gas Limited, a related company of Heirs Holdings Limited and Transnational Corporation of Nigeria Plc (Transcorp), for a consideration of $533m. A total of $453m was paid at completion with the balance to be paid over an agreed period. 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.

Bank assets targeted over Shell’s $479m Nigerian debt

Bank assets targeted over Shell’s $479m Nigerian debt

15 JAN 2021

Nigerian authorities moved to seize assets belonging to one of the nation’s largest banks to recoup damages owed by Royal Dutch Shell Plc to a local community over a decades-long dispute.

Nigerian authorities moved to seize assets belonging to one of the nations largest banks to recoup damages owed by Royal Dutch Shell Plc to a local community over a decades-long dispute.

Federal court officials and police visited First Bank of Nigeria Ltd’s main branch in the southern oil hub of Port Harcourt on Jan. 12 to enforce an order … 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 Malaysia to cut 250-300 upstream jobs

Shell Malaysia to cut 250-300 upstream jobs

Published date: 15 January 2021

Shell will cut 250-300 jobs from its upstream operations in Malaysia over the next two years, or around 2pc of the current workforce, calling it a necessary change to ensure it is “in a strong position to capture opportunities in the energy transition”.

Shell announced in September plans to cut 7,000-9,000 jobs over the next two years as part of a structural reorganisation to shift towards a low-carbon future. 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.

Demand for clean energy is spur for change at Shell

Shell letter to the FT: Demand for clean energy is spur for change at Shell

From Ed Daniels, Executive Vice-President, Strategy & Portfolio, Shell, The Hague, The Netherlands

Your article “Will Shell case accelerate the shift to green energy?” (The Big Read, January 12) argues that Shell “can still continue to expand its fossil fuel businesses while meeting its ‘net zero’ emissions goal”. That is neither practically possible, nor true to our intent.

Shell’s intent is visible in the way the company is already, and enthusiastically, moving into low and zero-carbon energy while lowering our net carbon footprint. Shell knows it must do so today if it is to be a successful business in the future. That is the spur for change: the fact Shell’s customers are increasingly demanding cleaner 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.

Oil giant Shell to axe 330 UK jobs due to covid restrictions – with thousands more to follow

Oil giant Shell to axe 330 UK jobs due to covid restrictions – with thousands more to follow

The move forms part of 9,000 jobs set to be axed across the business over the next two years following a collapse in demand for oil due to the ongoing coronavirus pandemic

BY Emma Munbodh: Deputy Money Editor
  • 13:31, 12 JAN 2021
  • UPDATED14:45, 12 JAN 2021

As well as cutting costs, Shell says it wants to be a net-zero emissions energy company by 2050

Shell is preparing to cut 330 UK jobs over the next two years as coronavirus continues to hit profits.

The oil giant said it plans to shed a quarter of its workforce in Aberdeen by December 2022. 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 resumes gas shipments from world’s largest floating structure

“Prelude has been a ‘white elephant’…

Shell resumes gas shipments from world’s largest floating structure

The restart of the huge Prelude facility — which at 488 metres is longer than four football fields — is a welcome boost for Shell as it coincides with a record surge in LNG prices fuelled by a cold snap in Asia. But construction challenges, cost overruns and technical problems with Prelude, as well as challenging market conditions, have prompted Shell and other producers to cancel other FLNG projects. “Prelude has been a ‘white elephant’ — we always felt it was a technology looking for a solution rather than the other way round,” said Neil Beveridge, an analyst at Bernstein. 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 case puts spotlight on energy groups’ role in climate change

Shell case puts spotlight on energy groups’ role in climate change

in London: 11 Jan 2021

It is five years since the Netherlands lost a court action forcing it to cut its greenhouse gas emissions. It was the first time a government had been compelled by law to take action on climate change and was upheld by an appeals court in 2019, meaning that Dutch authorities have to reduce emissions by 25 per cent compared with 1990 levels. Now the lawyer behind that 2015 case — Roger Cox — has a new target, Royal Dutch Shell… 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.

Ship Orders Slump 50% With Owners Unsure Which Green Fuel to Use

Ship Orders Slump 50% With Owners Unsure Which Green Fuel to Use

By Elizabeth Low and Jack Wittels: 8 January 2021, 09:00 GMT

  • LNG, ammonia and hydrogen among alternative fuel contenders
  • Orders at lowest in at least two decades in 2020: IHS Markit

Article Extracts

Ship owners facing looming deadlines to use less-polluting fuels have slashed the number of new vessels on order because they don’t know which alternative technology to switch to.

Ammonia, hydrogen, biofuels and electrification are some of the many contenders to power the world’s future merchant fleet, but most are only in the trial stage and won’t be scalable for at least a decade. With the life of a commercial ship averaging around 20 years, opting for a technology that doesn’t take off could be very costly. 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 to lay off nearly 700 workers in Louisiana after refinery closes

Shell to lay off nearly 700 workers in Louisiana after refinery closes

Jan. 4, 2021 Updated: Jan. 4, 2021 8:46 a.m. Royal Dutch Shell will lay off 698 workers as it closes its Convent refinery in Louisiana, part of a company effort to reduce carbon emissions.

The layoffs will begin in March and be completed by the end of August when the plant closes, according to information filed with the Louisiana workforce commission last month.

“The decision is part of the company’s global strategy to invest in a core set of uniquely integrated manufacturing sites that are also strategically positioned for the transition to a low-carbon future,” the Hague-based company said in November, when it began shutting down the refinery after failing to find a buyer for it. 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.
%d bloggers like this: