Associated Press, 03.19.10, 08:03 AM EDT
AMSTERDAM — Royal Dutch Shell PLC says it has made a significant discovery of oil 25,000 feet below the surface in the Gulf of Mexico.
News and information on Shell PLC
Associated Press, 03.19.10, 08:03 AM EDT
AMSTERDAM — Royal Dutch Shell PLC says it has made a significant discovery of oil 25,000 feet below the surface in the Gulf of Mexico.
May you please tell this story to the world, of how Shell continues to wreck lives, act unethical and bulldoze people. I have had this story a number of times but never believed it, cause I am part of this company but I have since seen the light.
It is common to hear that Shell doesnt need to be in South Africa because in fact we might pull out as we did in Ethiopia, Swaziland, Moz, Zim, … you get the picture. We are consolidating and looking more into our Upstream business as opposed to Downstream, hence the recent massive job cuts of downstream business.
FRIDAY MARCH 19, 2010, 2:00 A.M. ET
SYDNEYArrow Energy Ltd. has yet to strike an agreement with Royal Dutch Shell PLC and PetroChina Co. on a takeover offer, people familiar with the matter said Friday amid mounting speculation of a sweetened offer from the pair.
“There is no agreement at this point,” one person said.
It has been nearly two weeks since Royal Dutch Shell and PetroChina offered 3.3 billion Australian dollars (US$3.0 billion) for Arrow’s Australian operations. The continuation of talks may cool speculation that an Arrow-endorsed deal is imminent.
Thu Mar 18, 2010 5:55pm EDT
(Reuters) – Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK) are close to an agreed deal with Australia’s Arrow Energy Ltd (AOE.AX) to lift their A$3.3 billion ($3.05 billion) takeover offer, an Australian newspaper said.
The Australian Financial Review said in an unsourced report on Friday that the companies could announced a deal as soon as Friday, which could be higher than their March 8 offer for A$4.45 in cash per share Arrow share plus a share in a new entity holding its international business.
March 18 (Reuters) – Shell International Finance BV on Thursday sold $4.25 billion of senior unsecured notes in three parts, said IFR, a Thomson Reuters service. The notes are guaranteed by Royal Dutch Shell PLC.
Barclays Capital, Credit Suisse and the Royal Bank of Scotland were the joint bookrunning managers for the sale.
By Deborah Hyde | 07:47:24 | 18 March 2010
Oil major Royal Dutch Shell’s management says the group’s transformation over the next couple of years will be significant and it can begin to lift its dividend again from next year.
CEO Peter Voser said: ‘These are exciting times for Shell. We are poised to deliver a new wave of financial and production growth.’
He said the group is making substantial investments in new projects to drive Shells financial performance going forward.
By David Lee Smith
March 18, 2010
In the hierarchy of Big Oil, I don’t have to work up a sweat to place ExxonMobil (NYSE: XOM) overall in first place — both qualitatively and quantitatively — while for several years now, Royal Dutch Shell (NYSE: RDS-A) has brought up the rear.
BP leads the way
That’s not to say, however, that the companies can’t change positions, much like NASCAR participants, passing one another when things are going especially well, or falling behind when bad luck hinders them. Take (NYSE: BP) for instance. It wasn’t long ago that the company was simultaneously trying to fend off the ramifications of a lethal explosion at a Texas refinery that killed 15 and injured scores of others, all while dealing with leaks in its Alaska pipelines. At about the same time its Indiana refinery was shut down by a fire, and an abrupt top management change all seemed to leave the company even further behind the eight-ball.
By Dan Molinski Of DOW JONES NEWSWIRES MARCH 18, 2010, 9:28 A.M. ET
CARACAS (Dow Jones)–Royal Dutch Shell PLC (RDSB) moved Thursday to clear up what it calls a “misunderstanding” regarding sharply critical remarks of Venezuela reportedly made by one of the oil company’s top officials.
Shell on Tuesday said international oil majors have mostly lost interest in investing in Venezuela, according to Reuters news agency, following leftist President Hugo Chavez’s nationalization of assets in recent years.
Linda Cook: 29 years’ service with Shell. Photograph: Adrian Dennis/Rex Features
17 March 2010
Mark Cobley
Errol Keyner from VEB told the Guardian newspaper: “The people who came up with this must have been smoking something which is not allowed in law. It’s beyond belief.”
Ian Lyall, Daily Mail
16 March 2010, 9:52pm
He said he was ‘energised’ and up for the fight. But as he stood at the podium to deliver the company’s annual strategy review, Shell boss Peter Voser (right) looked anything but.
His audience of a hundred or so British and foreign journalists listened with an air of resignation rather than in rapt attention.
Voser isn’t a natural orator. His clipped Swiss accent and the dry delivery may work well around the boardroom table, but his style is hardly inspirational.
Daily Mail
17 March 2010, 8:11am
Linda Cook, the former head of Shell’s oil and gas division, received a £5m compensation payment after losing out on the role of chief executive to Peter Voser.
Compensation: Linda Cook |
The revelation came in the firm’s annual report and will overshadow a well received strategy update by Voser.
His earnings were £2.9m last year.
Read moreBy Will Kennedy and Andrea Catherwood
March 17 (Bloomberg) — Royal Dutch Shell Plc Chief Executive Officer Peter Voser said industry costs have started to rise and the company will use technology to control spending as it invests $100 billion to boost production.
Costs have not come down as much as we hoped for, and some of them are now rising again, Voser said in an interview with Bloomberg Television broadcast today. Shells challenge is to be more speedy in terms of technology implementation.
By Garry White
Published: 10:10PM GMT 16 Mar 2010
Peter Voser, chief executive, unveiled a further 1,000 jobs cuts in addition to the 6,000 already announced as he vowed to “sharpen up” Shell in the next three years by boosting output by 11pc.
“Shell has been disadvantaged recently, due to our higher exposure to refining and natural gas, where margins are hard-wired to the economy,” Mr Voser said.
“The priorities are for a more competitive performance, for growth, and for sharper delivery of strategy. We have more to do to drive out cost and improve the operating performance in the company.”
On 31 March, Richard Wiseman, the Chief Ethics & Compliance Officer of Royal Dutch Shell Plc will be making a speech at a seminar in London: “Best Practice in Combating Corruption Extortion and Bribery“
“The event will examine new developments and tools in fighting corruption and providing practical methods for addressing and investigating extortion and bribery.”
We can only surmise that Mr Wiseman is present on the basis of being a poacher turned gamekeeper.
By Keith Findlay
Published: 17/03/2010
It emerged yesterday that a further 1,000 positions globally are going, on top of the 5,000 shed in 2009 and 1,000 the firm had previously flagged up for this year.
Shell would not say exactly where the latest cuts in its 101,000-strong worldwide workforce would be, but chief executive Peter Voser said the axe would fall mainly on downstream and corporate roles.
Aberdeen, where Shell employs about 1,800 people, is the hub for the firms UK upstream exploration and production activities and is, therefore, unlikely to see much of an impact.
(Reuters) – Australia Arrow Energy Ltd (AOE.AX) has opened its books to Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK) for them to conduct due diligence for their joint takeover offer worth at least A$3.3 billion ($3.03 billion) sources said on Wednesday.
One of the sources said Arrow is expected to make a response on the offer within days. ($1=1.088 Australian Dollar)
(Reporting by Fayen Wong; Editing by Michael Perry)
Boston Common is one of more than 140 institutional investors supporting a shareowner resolution asking Shell to report on the strategic risks of Canadian oil sands investments in the face of "future carbon prices, oil price volatility, demand for oil, anticipated regulation of greenhouse gas emissions and legal and reputational risks arising from local environmental damage and impairment of traditional livelihoods."
March 17, 2010: Robin Pagnamenta Energy Editor
Royal Dutch Shell will sell full or part-stakes in as many as 9,000 petrol stations worldwide and cut a further 1,000 jobs as it intensifies its global cost-cutting.
The announcement came as Shell appeared to be edging closer to a deal with Arrow Energy to bolster the groups position in Australias fast-growing industry supplying coal-seam gas to China and South-East Asia.
Peter Voser, the chief executive, said that Shell intends to leave about 30 of the 90 countries in which it operates petrol stations. The move, which is already under way, is part of a focus on more profitable markets and on exploration and production.
Shell is to cut a further 1,000 jobs. Photograph: Graham Turner
Royal Dutch Shell announced a further 1,000 job cuts today as the Anglo-Dutch firm admitted it had been slow to respond to the global slump.
The oil group, which has 100,000 staff worldwide, cut 5,000 posts last year and had already announced a further 1,000 job losses for this year.
Chief executive Peter Voser said the group would axe another 1,000 posts by the end of 2011 as he presented his strategic update for the firm.
SHELL is working on a submission for the Environmental Protection Agency (EPA) regarding the discharge of water which will be separated from the gas, writes Marian Harrison. The company agreed with fishermen not to discharge the treated water into the Sruwaddacon Bay and are investigating alternative options before seeking permission from the EPA.
After seven years of year-on-year declines in oil production, Shells return to volume growth represents a significant turnaround for the Anglo-Dutch oil giant.
For Peter Voser, eight months in to his role as chief executive, it also reflects a new phase in the drive to rebuild the companys fortunes.
Since his appointment last summer, he has announced plans to cut 6,000 jobs and reorganise the group to strip out costs and excessive bureaucracy.
Today he announced plans to intensify that drive by trimming a further 1,000 positions, mostly in middle management and the groups downstream operation.
MARCH 16, 2010 By Lananh Nguyen Of Dow Jones Newswires
LONDON (Dow Jones)–The startup of Royal Dutch Shell PLC’s (RDSB) Corrib gas project off the west coast of Ireland will be delayed to 2012-2013, the company said Tuesday in a strategy update.
The project was originally set to come online between 2010-2011, but has been held up. Shell was asked by Ireland’s planning board in late 2009 to consider an alternative route for a nine-kilometer onshore pipeline to deliver gas from its Corrib fields to a processing terminal in response to local opposition.
By Lananh Nguyen Of DOW JONES NEWSWIRES MARCH 16, 2010, 12:33 P.M. ET
LONDON (Dow Jones)–India’s Essar Oil Ltd.’s (500134.BY) potential London listing could stall the company’s negotiations to buy three European refineries from Royal Dutch Shell PLC (RDSB), Shell’s Chief Financial Officer Simon Henry said Tuesday.
“While those negotiations [for an initial public offering] are going on, it’s very difficult for them to go forward,” with the purchase of the Heide and Harburg refineries in Germany and the Stanlow plant in the U.K., but the companies are still in talks, Henry said at a Shell strategy update in London.
MARCH 16, 2010, 6:47 A.M. ET By Lananh Nguyen and Jeffrey Sparshott Of Dow Jones Newswires
LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB) said Tuesday it made a $7.6 million severance payment to the former head of its gas and power division last year, making her the highest-earning executive at the Anglo-Dutch oil major in 2009.
Linda Cook resigned as an executive director of the company on June 1, soon after Shell appointed Peter Voser as chief executive. Cook, one of the most senior women in the global oil industry, was a top contender for the post and had worked for Shell for 29 years.
Associated Press, 03.16.10, 05:46 AM EDT
AMSTERDAM — Royal Dutch Shell PLC says it will boost production by 11 percent by 2012 from 2009 levels, slightly more than previously forecast, and sell assets and cut more jobs.
The targeted output rise, to 3.5 million barrels of oil per day, would reverse a decade of production declines at Europe’s largest oil company.
CEO Peter Voser will update investors on strategic plans later Tuesday. In a statement, Shell says it plans up to $3 billion in annual asset sales in coming years, disposing 15 percent of its refining capacity. It expects up to $30 billion per year in capital expenditures.
MARCH 16, 2010
LONDONRoyal Dutch Shell PLC’s Chief Executive Peter Voser’s earnings rose 22% in 2009 to $4.4 million, according to the company’s annual report Tuesday.
Mr. Voser, who became CEO in July 2009, earned $3.6 million in 2008 while serving as the company’s chief financial officer. The earnings include Mr. Voser’s salary and performance bonus.
Shell proposed in February changes to how it pays its executive directors in an attempt to assuage concerns that led shareholders to reject its remuneration package last year.
– Shell (NYSE: RDS.A) (NYSE: RDS.B) today said it was entering a new period of growth, and outlined plans to sharpen up performance and reduce costs.
– Upstream production is expected to reach 3.5 million barrels of oil equivalent per day (mboe/d) in 2012, an increase of 11% from 2009.
– In addition, the company is assessing over 35 new projects from some 8 billion barrels of oil equivalent resources (boe), which should underpin Upstream growth to 2020.
– Downstream continues to focus on profitability, with plans to exit 15% of refining capacity and 35% of retail markets, and growth investment to enhance the quality of manufacturing and marketing portfolios.
– As new projects come on stream, the company expects cash flow from operations will increase by around 50% from 2009 to 2012 in a $60/bbl oil price world, and by over 80% with $80/bbl oil prices.
CEO Peter Voser (above right) commented: “These are exciting times for Shell. We are poised to deliver a new wave of financial and production growth. We are making substantial investments in new projects to drive Shell’s financial performance going forward. Shell should be in a surplus cash flow position in 2012, after capital investment and dividend payments, assuming $60 oil prices and a more normal environment for natural gas prices and downstream.”
Voser continued: “We are moving into a delivery window across the next five years, and beyond that, we have a tremendous opportunity set for the 2015-2020 timeframe. We will put the emphasis on financial performance – cash generation and returns.
Upstream, we have built up strong foundations in activities like gas-to-liquids (GTL), oil sands and liquefied natural gas (LNG). Looking out to 2020, I expect Shell’s exploration to underpin new upstream growth, especially in North America and Australia, with additional barrels from development-led projects. Downstream, we are making substantial investments in new refining and petrochemicals capacity. Once these projects are on stream, I expect the downstream growth emphasis will switch to further strengthening our marketing for the next several years.”
Peter Voser mapped out three distinct layers for Shell’s strategy development: nearer-term performance focus, medium-term growth delivery, and maturing next generation project options.
PERFORMANCE FOCUS - Continuous improvements in operating performance, with an emphasis on safety, asset performance and operating costs, including firm plans for $1 billion of cost savings in 2010, and staff reduction of some 2,000 positions by end-2011. - Asset sales of $1-3 billion/year as Shell exits from non-core positions across the company. - New initiatives expected to improve on Shell's industry-leading Downstream by focusing on the most profitable positions and growth potential. Shell has plans to exit from 15% of its world-wide refining capacity, 35% of the company's current retail markets, and is taking steps to further improve its chemicals assets. GROWTH DELIVERY - Shell has some 11 billion boe of new oil & gas resources under construction, and selective downstream growth opportunities. This is one of the most ambitious investment programmes in the industry. - Net capital investment is expected to be $25-$27 billion/year for 2011-14, with up to $3 billion/year of asset sales, and $25-$30 billion/year of organic investment. Annual spending will be driven by the timing of investment decisions and the near-term macro outlook as Shell invests for long-term growth. - Cash flow from operations excluding net working capital movements was $24 billion in 2009. Shell expects cash flow to grow by around 50% from 2009-2012 assuming a $60 oil price and a more normal environment for natural gas prices and downstream margins. In an $80 world, 2012 cash flow should be at least 80% higher than 2009 levels. - Downstream, Shell is adding new chemicals capacity in Singapore and refining capacity in the US, and making selective growth investment in marketing. - Oil & gas production is expected to average 3.5 million boe/d in 2012, compared to 3.15 million boe/d in 2009, an increase of 11%, in line with previous guidance of 2-3% average annual growth rates, and with confidence in further growth beyond 2012. - As a result of its growth investment, Shell made proved reserves additions of 3.4 billion boe in 2009. With 2009 production of 1.2 billion boe, this resulted in a Reserve Replacement Ratio of 288%, and a total proved reserves to production ratio of ~12 years. MATURING NEXT GENERATION PROJECT OPTIONS - Shell has built up a substantial portfolio of options for the next wave of growth in the company. This portfolio has been designed to capture price upside, and minimize the company's exposure to industry challenges from cost inflation and political risk. - Exploration delivered 2.4 billion boe of new resources in 2009, including new barrels in the Gulf of Mexico, North America tight gas, and Australia. This was the best year for exploration in a decade. - In North America, Shell has made great progress with tight gas, adding 8 trillion cubic feet equivalent (tcfe) of resources in 2009, bringing the company's total to 21 tcfe (3.7 billion boe). Tight gas production increased by over 60% in 2009 to 110,000 boe/d, with potential for >400,000 boe/d from today's portfolio. - In the Gulf of Mexico, the company has established at least three new production hubs, at Vito, Stones and in the Mars area, with >150,000 boe/d production potential for Shell. - Australia should underpin Shell's next tranche of LNG developments, within a world-wide options set for a possible further 10 million tonnes per year (mtpa) of capacity by 2020, which could take Shell's total capacity to ~35 mtpa. - In Canada, we retain options for further heavy oil expansion, with the nearer-term priority on improving operating efficiency and facilities debottlenecking. - Shell's pre-FID option set for fields that could come on stream by 2020 has reached 8 billion boe of resources, with over 35 substantial new projects that can sustain growth to 2020.
By Steve Goldstein
LONDON (MarketWatch) — Royal Dutch Shell in its annual report, said proved oil and gas reserves rose to 14.13 billion barrels of oil equivalent from 10.9 billion in 2008. Shell said the 2009 volumes were established under new SEC rules on oil and gas reporting. The report said 4.42 billion barrels were added before accounting for production. As for compensation, the report showed Linda Cook received a $7.6 million severance and a performance bonus of $1.54 million after leaving as head of the gas and power business. Peter Voser’s total compensation was $4.39 million, Malcolm Brinded earned $3.69 million and Simon Henry earned $1.49 million in 2009.
Tue Mar 16, 2010 8:20am GMT
LONDON (Reuters) – Royal Dutch Shell Plc (RDSa.L) said it was planning a return to robust growth in oil and gas production after years of decline, as it unveiled strong reserves additions that would underpin longer term growth. Europe’s largest oil company by market value said it is targeting output of 3.5 million barrels of oil equivalent per day (boepd) in 2012, up from 3.15 million in 2009 — equivalent to an annual growth rate of 3.5 percent.
A stream of analyst comments and silence on the offer from the Australian coal-seam gas group has fuelled expectations that Arrow will reject the bid and the two parties will have to come in with a higher and hostile offer. Last week, Shell and PetroChina offered A$4.45 in cash for each Arrow share, plus a share in a new, international Arrow entity.
By Ed Crooks, Energy Editor
Published: March 15 2010 22:32
The Co-op is backing Dirty Oil, a new documentary that had its premiere in London on Monday night.
The film alleges pollution from oil sands production is contributing to high rates of cancer among local communities; a claim that is rejected by the industry.
The Co-op has put £100,000 towards marketing and distribution of the documentary in Britain. Its asset management arm is part of a campaign against oil sands investment by Royal Dutch Shell and BP.
March 16, 2010
David Wighton: Business Editors commentary
He arrived with a bang and within weeks had axed 5,000 jobs. But eight months after taking over the helm at Royal Dutch Shell, is Peter Voser making progress turning around the supertanker?
Since becoming Shell's chief executive last year, Peter Voser has announced divestment plans in the company's refining and marketing branch. He wants to reduce Shell's refining capacity by 15%, or around 600,000 barrels a day, over a three-year
By Fred Pals
March 15 (Bloomberg) — Royal Dutch Shell Plc, vying with BP Plc to be Europes largest oil and gas ompany, will outline a plan tomorrow to increase output every year until 2020, a person familiar with the companys strategy said.
Chief Executive Officer Peter Voser, due to brief investors at an annual strategy update in London, will say Shell has a pipeline of more than 20 projects with the potential to sustain low single-digit average annual production growth in the second half of the decade, the person said, asking not to be indentified because the presentation hasnt yet been made.
LONDON -(Dow Jones)- Nigerian militant group the Movement for the Emancipation of the Niger Delta, or MEND, launched a bomb attack on the Delta State government house in the city of Warri Monday.
Agence France-Presse reported at 1024 GMT that a blast had rocked a ceremony held to mark an amnesty for former rebel fighters in the city. It wasn’t clear if there were any casualties.
MEND e-mailed a warning of the attack at 1013 GMT, saying the first of three explosive devices planted in the government compound would be detonated at 1030 GMT. The group also threatened further attacks against oil infrastructure in the region, singling out facilities operated by France’s Total SA (TOT) as targets.
In 2006, a Los Angeles Superior Court jury found Shell guilty of intentional fraud and concealment, awarding Atallah $1.65 million in compensatory damages, Gwire said, who added that the jury also found that Shell had acted with "oppression, malice or fraud", clearing the way for the jury to award punitive damages.
By James Paton
March 15 (Bloomberg) — Arrow Energy Ltd. may reject a A$3.3 billion takeover offer from Royal Dutch Shell Plc and PetroChina Co., the Australian Financial Review reported, without saying where it got the information. The time Arrow has spent evaluating the offer and analysts comments that the bid is too low have led to speculation the proposal will be rejected, the newspaper said.
To contact the reporter on this story: James Paton in Sydney at [email protected]
Shell's oil facilities in the Niger Delta have suffered from a number of criminal and militant attacks, leading Peter Voser, chief executive officer, to declare that the country is no longer a key area for growth.
httpv://www.youtube.com/watch?v=ejym4mKelhM&feature=youtube_gdata
In 2006, a Los Angeles Superior Court jury found Shell guilty of intentional fraud and concealment, awarding Mr. Atallah $1.65 million in compensatory damages. The jury also found that Shell had acted with "oppression, malice or fraud", clearing the way for the jury to award punitive damages.
Press Association
12 March 2010, 4:43pm
Attempts by Royal Dutch Shell to address its production difficulties will be in the spotlight next week…
Royal Dutch Shell chief executive Peter Voser faces a tough challenge on Tuesday when he presents the oil major’s strategy update to a sceptical City.
The Anglo-Dutch firm has to convince analysts it has the plans in place to turn around years of sliding production, as well as strip costs out of the business.
The pressure on Mr Voser – less than nine months into the job – has increased due to the improvement at rival , where Tony Hayward is leading a resurgence after years in the doldrums.
By James Paton
March 12 (Bloomberg) — Royal Dutch Shell Plc and PetroChina Co. may need to increase their offer by as much as 55 Australian cents a share to A$3.7 billion ($3.4 billion) to acquire Arrow Energy Ltd., said an analyst at RBS Morgans.
Shell and PetroChina may have to sweeten their offer for Arrow to as much as A$5 a share, Nik Burns, a Melbourne-based analyst, said in a note to investors. While the companies may need to raise the bid to at least A$4.80 a share, the transaction is more than likely to proceed, said Burns, who predicted last month that Shell may make an offer for Arrow.
By Emiliya Mychasuk and Emiko Terazono
Published: March 12 2010 02:00
A reshuffle on the Royal Dutch Shell board, which drew investor approbrium over pay last year, sees the hiring of former DuPont chief executive Chad Holliday Jr . The American is a co-author of Walking the Talk, putting a business case for corporate responsibility.
By Peter Millard
March 11 (Bloomberg) — Royal Dutch Shell Plc. confirmed that it sold part of its stake in an offshore Brazilian oil block to Japans Inpex Corp.
Shell said in an e-mailed statement today that it sold 15 percent of the BM-ES-23 block. Petroleo Brasileiro SA, Brazils state-controlled oil producer, operates the block with a 65 percent stake.
Financial terms of the deal werent disclosed.
To contact the reporter on this story: Peter Millard in Mexico City at [email protected]
BP PLC's $7 billion deal with Devon Energy Corp should help dispel some of the misgivings that have weighed on the British oil major's stock in recent yearsparticularly doubts about its ability to keep pumping more and more oil.
Royal Dutch Shell said it was reviewing its refinery operations with the idea of keeping only those with the best growth potential.
By Phil Craig
Of FINANCIAL NEWS
UK politicians today backed a shareholder revolt against oil giants BP and Shell, giving a substantial boost to demands that the companies assess the risks associated with their controversial investments in Canada’s tar sands.
A cross-party group of MPs has today published an Early Day Motion, a means by which politicians can raise an issue in parliament, calling on the parliamentary pension fund to vote in favour of shareholder resolutions requiring the oil giants to report on their tar sands projects.
LAGOS Shell said Thursday it had closed down two gas plants feeding Nigeria's power stations so that it could carry out repairs on a damaged supply pipeline in the restive oil-producing region.
Last updated: March 11th, 2010
An area near Fort McMurray, Alberta, Canada, where oil sands are believed to lie
The group of investors vociferously trying to persuade BP and Shell to re-evaluate their potential investments in the Canada tar sands has now enlisted a group of MPs in Britain to propose an early day motion questioning the projects financial viability.
The move is part of a pretty well-coordinated campaign mobilised by FairPensions (members: ActionAid, WWF and a number of trade unions). This year, the rebels have managed to get enough shareholder support to submit motions to the oil companies annual meetings against the Alberta prospects, which environmentalists argue will be responsible for high levels of carbon dioxide emissions.