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Shell defeats activist uprising as it faces down rising climate concerns

Jillian Ambrose

Royal Dutch Shell has convincingly defeated a climate activist uprising after facing down one of its most bitter stand-offs with shareholders over its climate goals.

Around 94pc of shareholders voted down a special resolution calling for the oil giant to set and publish annual targets to reduce carbon emissions at its AGM in the Hague on Tuesday. The board also survived a vote on executive pay which was backed by 93pc of shareholders.

But anger over the group’s focus on fossil fuels dominated the meeting, underlining the mounting pressure facing oil majors to address public concern.

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Shell shareholders reject emissions target proposal

By Karolin Schaps | THE HAGUE

Royal Dutch Shell (RDSa.L) shareholders on Tuesday widely rejected a proposal by an environmental group calling for the oil company to set and publish annual targets to reduce carbon emissions.

The vote is a setback for climate activists who are increasing pressure on global oil companies, including U.S. firms Exxon Mobil (XOM.N) and Chevron (CVX.N), to become more ambitious in helping combat climate change.

Around 94 percent of Shell shareholders who cast a vote decided against resolution 21, according to final results reported following the company’s annual general meeting (AGM) in The Hague. Roughly 5 percent of voters abstained.

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Shareholders criticise Shell over climate change commitments

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Royal Dutch Shell has been rapped over its climate change commitments, with shareholders criticising its rejection of emissions targets that would bring it in line with the Paris climate accord.

Shareholders at the oil giant’s annual general meeting (AGM) at The Hague spent hours questioning Shell’s board members, who said that while the company supported the Paris agreement, setting company targets was “not in the best interest of the company”.

Shell chief executive Ben van Beurden said his company was making progress in lowering its emissions, but that achieving Paris Climate Agreement goals – which aim to limit global warming to below 2 degrees Celsius from pre-industrial levels – would require broader coordination, including active government support.

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Shell CEO says climate change is real, but energy demand growth is ‘unstoppable’

The threat of climate change is real and action is needed, says Ben van Beurden, the chief executive of Royal Dutch Shell.

Ben van Beurden also touched on the oil giant’s transformation, millennials, the new Trump administration and more in a May 17 interview with The Washington Post.

It’s been a turbulent couple of years for the Shell chief executive. With the roller coaster in crude oil prices, the company’s stock has lurched from a high of $83.12 a share six months after he took charge to a low of $36.87 a share. The stock has climbed back, but revenues have plunged by a third since 2013. The shareholders’ annual meeting is Tuesday at The Hague.

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Exposed: Shell’s Cosy Corporate Relationship with the National Gallery

Fossil fuel company Shell receives special treatment from the publicly-funded National Gallery despite the oil major’s history of climate obstructionism, documents seen by DeSmog UK show.

The news comes as shareholders gather for Shell’s annual general meeting in The Hague today, with the board under pressure to agree to company-wide emissions reduction targets.

Campaigners have long complained about Shell’s relationship with some of the UK’s most high-profile cultural organisations, arguing that the company should not be allowed to launder its reputation through its association with respected national institutions until it makes a firm commitment to tackle climate change.

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SHELL CEO WARNS TRUMP AGAINST BREAKING PARIS CLIMATE DEAL

By Janene Pieters on May 22, 2017 – 11:05

American companies will face detrimental consequences if U.S. president Donald Trump decides to withdraw his country from the Paris climate agreement, Shell CEO Ben van Beurden warned in an interview with British newspaper Financial Times. Van Beurden is one of the first to criticize Trump’s decisions from the business community, which is set to benefit from Trump’s promises of tax cuts and relaxed rules, RTL Nieuws reports.

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Investors Demand Details On Shell’s Emission-Driven Bonus Pay

By Tsvetana Paraskova – May 17, 2017, 1:24 PM CDT

In March this year, Shell said that it is proposing a Directors’ Remuneration Policy, subject to shareholder approval at the 2017 Annual General Meeting (AGM) on May 23, 2017. The policy, if approved by shareholders, will be effective until the 2020 AGM, unless shareholders approve other policies in the meantime.

The proposed remuneration policy for executives includes, among other things, new metrics for greenhouse gas (GHG) management, and these now form 10 percent of the annual bonus scorecard, Shell said.

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Documents Reveal How Shell Is Influencing University Curricula

By |

Shell has a contractual agreement with a major Dutch university, which allows the oil giant to influence its curriculum, according to documents seen by Energydesk.

Shell also paid Erasmus university hundreds of thousands of euros for conducting research into the business climate for multinationals in the Netherlands, invoices paid in 2008 and 2009 show.

The university, which ranked 69th in the 2017 world university rankings, said it “has nothing to hide”.  It said that Shell has played “no formal part” in the development of its curriculum and would create a publicly available register of its corporate ties, in response to the findings.

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Performance of Corrib gas field ‘exceeding expectations’

Gordon Deegan: 

The performance of the Corrib gas field is exceeding expectations, with its promoters recording sales of (Canadian) $241.34m (€160m) in the first quarter of this year.

That is according to a new report by one of the Corrib partners, Canadian-based Vermilion, which recorded that between January and March this year the project exceeded expectations for “well deliverability and downtime”.

As a result of the strong performance, Vermilion has adjusted its field and well performance estimates “and now expects to maintain peak production through Q1 2018 and potentially into Q2 2018”.

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Pressure on BP and Shell over executive pay

Michael Klimes: 08 May 2017

“We recognise that BP have taken action to reduce executive pay and link incentives more closely with carbon reduction targets, which is positive in our view, but we’re looking into whether it goes far enough. We’re more concerned about the lack of similar progress at Shell. It’s important to us that we’re reflecting all our members’ needs as best as possible so we welcome them raising issues with us.”

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How Earthquakes Might Be Crimes in Netherlands

Can a natural disaster be a crime? That’s the question in The Netherlands, where an investigation has been ordered into whether Royal Dutch Shell Plc and Exxon Mobil Corp. are criminally responsible for earthquakes triggered by production at Europe’s largest natural gas field, Groningen. Some of the earthquakes have been strong enough to damage homes in nearby farming communities. Though Groningen is a mainstay of the Dutch budget, its output is gradually decreasing to protect residents.

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Symbol of North Sea oil’s heyday towed into Teesside scrapyard

by: , North East Correspondent

While the Brent Delta decommissioning is not controversial, Shell’s proposal to leave the concrete and steel structures that support the four Brent topsides in the sea, as well as other materials, are being opposed by environmental groups.

FULL FT ARTICLE

‘Very impressive’ first quarter results predicted for BP, Shell

‘Very impressive’ first quarter results predicted for BP, Shell

An analyst has said “the numbers are going to look very impressive” for oil majors Shell and BP when they publish their first quarter results this week.

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Iain Armstrong, divisional director at Brewin Dolphin, said most companies could look forward to good year-on-year comparisons, considering the depths oil prices plunged to during the same quarter last year.

Brent crude slipped to below $30 at the start of 2016, having been above $110 in mid-2014.

Shell suffered pre-tax losses of $642million in the first quarter of 2016, while BP recorded pre-tax losses totalling $865million. Both firms achieved multi-billion dollar profits a year earlier.

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Kiobel v. Cravath: An Example of How a Little-Known U.S. Law can be Used as a Pre-Litigation Tool Overseas

Upasana Khatri: 22nd February 2017

When Esther Kiobel—who believes Shell collaborated with Nigerian authorities to commit gross human rights abuses, including the murder of her husband—could not find justice by suing Shell in U.S courts, she decided to sue the Dutch oil giant in the Netherlands. In support of the Dutch action, EarthRights International (ERI) helped Ms. Kiobel and her Dutch lawyers file an application under the Foreign Legal Assistance (FLA) Statute to gain access to important evidence originally gathered during the U.S. litigation. In December, a U.S. federal court granted Ms. Kiobel’s petition, allowing her access to documents housed in Cravath, Swaine & Moore LLP, the law firm that defended Shell in the U.S.

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Nigeria Seizes Foreign Vessel for Alleged Theft of Shell Crude

by Tony Tamuno
26 April 2017, 12:08 BST

Nigeria detained a vessel with crew members from countries including Pakistan, Indonesia and Ukraine for alleged theft of crude from a facility owned by Royal Dutch Shell Plc, the navy said.

The tanker, MT TECNE, was apprehended before dawn on April 25 while loading crude from the Afremo platform operated by Shell’s Nigerian unit, Ibrahim Dewu, a navy spokesman, said Wednesday by phone from the southern city of Warri. “They had siphoned about 2,000 metric tons of crude oil from the loading jacket before their arrest,” he said.

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Oil and Mining Giants Detail Road Map to Reduce Carbon by Half

by Mark Chediak: 25 April 2017, 05:01 BST

A group of companies and non-profit agencies that includes energy giants Royal Dutch Shell Plc and BHP Billiton said global greenhouse gas emissions could be cut in half by 2040 without impeding economic development, in part by converting grids to use mostly renewable power.

The declining costs of wind, solar and batteries will make it possible within 15 years to build power networks that get as much as 90 percent of their power from renewable sources while providing electricity at a cost that’s competitive with fossil-fuels, according to a report released Tuesday by the Energy Transitions Commission, a group of energy companies, investors and non-profit organizations including the Rocky Mountain Institute.

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Potent carcinogen contaminated drinking water used by millions, says report

WASHINGTON — Shell Oil Co. and Dow Chemical hid a cancer-causing chemical in two commonly-used pesticides that contaminated the drinking water of millions of people in the state of California, according to lawsuits detailed in a report from the Environmental Working Group earlier this month.

TCP, a poisonous insecticide gas, was used for decades in the pesticide Telone, made by Dow, and D-D, made by Shell.

Shell stopped using D-D in 1984, while Dow ceased usage of Telone during the late 1990s. But “garbage” chemical TCP was found in tap water supplies of about four million people in 13 states between 2013 to 2015, according to the nonprofit group.

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Court orders Shell-Exxon criminal probe over Dutch gas quakes

Court orders Shell-Exxon criminal probe over Dutch gas quakes

By Toby Sterling

AMSTERDAM, April 20 (Reuters) – A Dutch court ordered prosecutors to open an investigation on Thursday into whether a Shell-Exxon joint venture bears any criminal responsibility for earthquakes triggered by production at the country’s largest gas field.

No physical injuries have been caused by numerous small quakes, which have damaged thousands of buildings and structures across the north-eastern province of Groningen, and prosecutors had previously declined to act, arguing it was a civil matter.

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Dutch to cut Groningen gas production to lower earthquake risk

Apr. 18, 2017 12:56 PM ET|By: , SA News Editor

The Netherlands will cut production of its Groningen gas field by 10% beginning in October to limit the risk of earthquakes, the country’s economy minister says.

Production would be reduced to 21.6B cm/year from 24B cm/year as a first step, according to the minister; output has been cut several times from 53.9B cm in 2013 as criticism mounted the Dutch government had failed to adequately assess the risk from earthquakes caused by production at Europe’s biggest field.

Groningen is operated by a joint venture between Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM).

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Why Big Oil wants Trump to stay in Paris climate deal

  @mattmegan5 April 18, 2017: 12:27 PM ET

President Trump could deal the landmark Paris climate agreement a massive blow this week.

The U.S. president is huddling with advisers on Tuesday to explore whether he should yank America from the international accord aimed at slowing global warming.

But some powerful forces — with real skin in the game — are urging Trump not to abandon the 2015 Paris deal brokered among more than 175 nations.

Surprisingly, it’s the big oil companies who are vocally supporting the climate agreement, joining others in the administration that include Secretary of State Rex Tillerson, Ivanka Trump and her husband Jared Kushner.

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Exxon and Shell Join Ivanka Trump to Defend Paris Climate Accord

by Jennifer A Dlouhy 17 April 2017, 19:30 BST

As President Donald Trump contemplates whether to make good on his campaign promise to yank the United States out of the Paris climate accord, an unlikely lobbying force is hoping to talk him out of it: oil and coal producers.

A pro-Paris bloc within the administration has recruited energy companies to lend their support ahead of a high-level White House meeting Tuesday to discuss the global pact to curtail greenhouse-gas emissions, according to two people familiar with the effort who asked not to be identified.

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Shell wants Dutch government to target 20 GW in offshore wind by 2030

Apr. 13, 2017 8:25 AM ETBy: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) says it has urged the Dutch government to come up with bolder offshore wind targets and quadruple the goal for installed capacity to 20 GW by 2030.

Shell, which has traditionally invested little in green energy sources, is ramping up renewable energy investments to $1B/year by the end of the decade after pressure from shareholders.

Some of the company’s recent activities in renewable energy include winning a contract leading a consortium to build a wind farm off the coast of the Netherlands and bidding for an offshore wind license in the U.S.

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Shell claims low-carbon edge

On Monday, reports surfaced that some of Shell’s money circulating in Nigeria was used for payoffs.

April 12 (UPI) — One of the largest oil companies in the world, Royal Dutch Shell said Wednesday it was focused on a low-carbon strategy that was geared toward long-term growth.

Shell highlighted its movement through a changing energy landscape in a sustainability report on activities last year. Chief Executive Officer Ben van Buerden said in the report that lower crude oil prices and a global community coordinated around the U.N.-backed Paris climate agreement meant changes were necessary for the oil and gas business.

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Shell says Nigerian oil theft volume fell nearly 80 pct in 2016

Reuters | Apr 12, 2017, 04.10 PM IST

April 12 (Reuters) – ** Shell said the volume of oil stolen from its joint-venture operations in Nigeria fell to 5,600 barrels of oil per day (bpd) in 2016, the company said in its annual sustainability report

** This represents a 77.6-percent fall from 25,000 bpd in oil thefts in 2015 partly due to better air and ground surveillance and anti-theft mechanisms installed on equipment

** Shell said its Nigerian subsidiary Shell Petroleum Development Company (SPDC) had removed more than 880 theft points since 2012

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Royal Dutch Shell’s CEO Ben van Beurden hails “significant steps” taken to tackle climate change

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The hailed the progress made in recent years, such as the Paris Agreement, as marking a worldwide change in attitude in moving towards a low carbon economy.

In the opening remarks of the supermajor’s sustainability report for 2016, he describes how Shell is working to help meet the world’s growing demand for more and cleaner energy.

In his introduction, van Beurden said: “In 2016, the world took significant steps towards building a low-carbon energy future. The United Nations (UN) Paris Agreement and the UN’s sustainable development goals came into force, setting new targets for tackling climate change, promoting sustainable economic growth and providing access to modern energy.

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Shell, Dow Hid Cancer-Causing Chemical in Pesticides, Contaminating Drinking Water for Millions

For decades, Shell and Dow hid a highly potent cancer-causing chemical in two widely used pesticides, contaminating drinking water for millions of people in California and beyond, according to lawsuits detailed in a new report from the Environmental Working Group (EWG).

The chemical 1,2,3-trichloropropane or TCP, was formerly an unwanted and ineffective byproduct in Dow’s Telone and Shell’s D-D pesticides. Internal documents uncovered in lawsuits filed by communities in California’s San Joaquin Valley show that the companies saved millions of dollars a year by not properly disposing of TCP, a chemical a Dow scientist once called “garbage,” as hazardous waste.

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Brent decommissioning opaque, environmentalists say

April 10 (UPI) — Royal Dutch Shell hasn’t provided enough information on plans to take down key North Sea infrastructure to address our concerns, environmental groups said.

Shell started a 60-day consultation period for its plans to decommission three of its Brent production platforms in the North Sea in early February. That consultation period concludes at the end of the business day Monday.

In preparation, a consortium of environmental groups said they opposed the decommissioning plans as submitted because of the lack of information. Lang Banks, the Scottish director of environmental group WWF, said that, by his read, the outline from Shell lacks “qualitative judgments and opinions” from experts, including some of the engineers at the Dutch supermajor.

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Shell move ‘could be in breach of international law’

Environmental groups claim Shell’s plans to decommission one of the North Sea’s most iconic fields could breach international law.

The oil giant lodged plans to decommission the Brent field with the UK government in February.

It wants to leave the legs of three of the platforms in place rather than removing them, which Shell has described as the safest option.

Environmentalists say the plans are not detailed enough to justify the move.

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Shell shuts Bonny Light oil export line to remove theft points

By ReutersPUBLISHED: 12:13, 31 March 2017 | UPDATED: 13:58, 31 March 2017

LONDON, March 31 (Reuters) – The Nigerian subsidiary of Royal Dutch Shell Plc said it had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil, in order to remove theft points.

The managing director of Shell Petroleum Development Company (SPDC) said the company was working to “remove a significant number of oil theft connections and repair any leaks on the pipeline.”

The line, operated by Aiteo, is one of two along with the Trans Niger Pipeline that carries Bonny Light crude oil to the export terminal. Exports of roughly 232,000 barrels per day (bpd) were planned in April, according to loading programmes, but it was not immediately clear how much of this would be impacted by the pipeline shutdown.

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Trump’s climate change executive order won’t change coal’s fortunes, Shell chair says

 : 30 March 2017

President Donald Trump‘s effort to roll back Obama-era climate change policies will not do much to improve demand for coal at America’s power plants, Royal Dutch Shell Chairman Chad Holliday said Thursday.

Coal’s use in U.S. power plants has been falling for years in the face of stiff competition from natural gas. Former President Barack Obama‘s initiatives to rein in the impacts of climate change have hastened the retirement of old, inefficient coal-fired plants and the switch to cleaner-burning natural gas.

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Shell Throws The Blame To Residents on Slow Cleanup of Oil Spills In Nigeria

(Photo: John Li / Getty Images)

Regin Olimberio: Mar 28, 2017 07:10 PM EDT

Oil and petroleum giant Shell blamed the Nigerian residents in the Delta community for its slow response in cleaning up the two oil spill incidents in 2008. Amidst almost a decade-long effort, Shell wasn’t able to fully contain the spill. However, there is a possibility that the clean-up might start next month.

To recall, the Royal Dutch Shell admitted responsibility for two pipeline leaks that subsequently contaminated the Bodo community. Shell also agreed to a $68 million settlement after accepting the liability over the corroded pipelines in 2015. Since then, the oil spills haven’t yet been addressed.

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Why Are Shell And Toyota Backing Hydrogen Fuel Cell Vehicles?

Royal Dutch Shell sees that facing a lower-carbon transport future will need a “mosaic of fuels and engines,” but the energy conglomerate is leaning toward hydrogen as the alternative fuel of choice.

Hydrogen fuel cell vehicles are classified globally as zero emission vehicles, and are seeing a wave of policy support in North America, Europe, and Asia. The water vapor emissions are fascinating to many. Shell sees a distinct place for itself in supporting the vehicles and leading development of the fueling infrastructure needed for mass adoption.

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Whistleblower accuses Shell of Nigerian Oil Spills Cover-up

A whistleblower has accused oil giant Shell of concealing data on the health effects of two major oil spills on communities in Nigeria. 

In a letter seen by the Independent, Kay Holtzmann, a former employee at the company, said data gathered in the Bodo community which was devastated by two huge oil spills in 2008 and 2009, showed levels of pollution were “astonishingly high”. He also accused the company of refusing to make the findings public. 

Mr Holtzmann was the former director in charge of Shell’s project to clean up oil spills in the Bodo community, which is located in the oil-producing Niger Delta region. 

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Geologist for Shell says company hid Nigeria spill dangers

BY MICHELLE FAUL: Associated Press: JOHANNESBURG: MARCH 24, 2017 7:36 AM

Royal Dutch Shell’s Nigeria subsidiary “fiercely opposed” environmental testing and is concealing data showing thousands of Nigerians are exposed to health hazards from a stalled cleanup of the worst oil spills in the West African nation’s history, according to a German geologist contracted by the Dutch-British multinational.

An environmental study found “astonishingly high” pollution levels with soil “literally soaked with hydrocarbons,” geologist Kay Holtzmann wrote in a letter to the Bodo Mediation Initiative.

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Shell says to start cleaning up 2008 Nigeria oil spills in April

Mar. 24, 2017 2:19 PM ET|By: Carl Surran, SA News Editor

The head of a group helping organize Royal Dutch Shell’s (RDS.A, RDS.B) clean-up of 2008 oil spills at a Nigerian Delta community says he hopes work can begin next month.

Shell agreed in 2015 on a £55M ($68.6M) settlement with the Bodo community after accepting liability for two pipeline leaks, but it says members of the community denied it access in August 2015 when clean-up work was set to begin.

A WSJ report yesterday said the Shell spills had contributed to “astonishingly high” pollution levels in the area, citing a consultant who helped produce a confidential damage assessment.

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WSJ: Shell report cites “astonishingly high” pollution from Nigerian oil spills

The former director of the cleanup project says Shell has denied him permission to publish the study’s results, which dictated a need for health screenings in the Bodo community.

Mar. 23, 2017 5:19 PM ET|By: Carl Surran, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) oil spills that have not been cleaned up for more than eight years have contributed to “astonishingly high” levels of pollution in a Nigerian community, WSJ reports, citing a consultant who helped produce a confidential damage assessment for the company and its partners.

The former director of the cleanup project says Shell has denied him permission to publish the study’s results, which dictated a need for health screenings in the Bodo community.

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Big Oil’s Plan to Buy Into the Shale Boom

by Javier Blas: 21 March 2017, 10:26 GMT

Big Oil is muscling in on shale country.

Exxon Mobil Corp., Royal Dutch Shell Plc and Chevron Corp., are jumping into American shale with gusto, planning to spend a combined $10 billion this year, up from next to nothing only a few years ago.

The giants are gaining a foothold in West Texas with such projects as Bongo 76-43, a well which is being drilled 10,000 feet beneath the table-flat, sage-scented desert, and which then extends horizontally for a mile, blasting through rock to capture light crude from the sprawling Permian Basin.

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Shell adds hundreds of jobs in new unit focusing on alternative energy

LeAnne Graves

SINGAPORE // Shell has added hundreds of jobs to its New Energies division as it plans to expand further in alternative fuels, wind and solar, a company executive said.

The oil and gas giant created a new division last year that focuses on investing in hydrogen, biofuels, solar and wind. Mark Gainsborough, Shell’s executive vice president of new energies, said the division’s workforce has expanded to more than 200 staff as the company looks to invest in excess of US$1billion per year by 2020.

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The fossil fuel industry’s invisible colonization of academia

Benjamin Franta and Geoffrey SupranMonday 13 March 2017 

The event’s sponsor was Shell Oil Company. The producer of the film series was Shell. The film’s director is Vice President of a family-owned oil and gas company, and has taken approximately $300,000 from Shell. The host, Harvard Kennedy School, has received at least $3.75 million from Shell. And the event’s panel included a Shell Executive Vice President.

FULL ARTICLE

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Shell’s sale of dirty tar sands assets cleans up debt and spruces image

Adam VaughanSaturday 11 March 2017 15.59 GMT

hen Shell sold most of its Canadian tar sands operations last week, the Anglo-Dutch oil company took a modest step towards making good on its promise to be part of the solution on global warming, rather than the problem. But the $7.25bn (£6bn) sale of the majority of its tar sands assets to an independent Canadian oil company is less about the company cleaning up its image than about cleaning up its debt.

FULL ARTICLE

Shell sells out of the oilsands. Was it climate or costs?

By Tracy Johnson, CBC News Posted: Mar 09, 2017 4:17 PM ET

Royal Dutch Shell’s deal to sell most of its stake in Alberta’s oilsands was in the works for more than a year, says the company’s chief executive Ben van Beurden.

“We said we would high-grade the portfolio,” he said at the CERAWeek energy conference in Houston.

“We would get out of positions where we do not have the scale or the capability, or that did not fit us in the longer run strategically. And the oilsands is one of them.”

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Shell CEO’s plan for a smaller carbon footprint

Patti Domm: 9 March 2017

Royal Dutch Shell‘s announcement of the sale of $7.25 billion in Canadian oil sands assets Thursday is an important step to turning itself into a company of the future — with a broader mix of energy assets and a smaller carbon footprint.

Shell CEO Ben van Beurden said the company is committed to reshaping itself and believes that renewables and new energy will play a bigger role. The company is retaining just 10 percent of its Canadian sands assets.

“We are right in the middle of transforming the company into the company of the future,” he said at the CERAWeek conference in Houston, sponsored by IHS Markit.

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Shell CEO urges switch to clean energy as plans hefty renewable spending

The oil and gas industry risks losing public support if progress is not made in the transition to cleaner energy, Royal Dutch Shell Plc (RDSa.L) Chief Executive Ben van Beurden said on Thursday.

The world’s second largest publicly-traded oil company plans to increase its investment in renewable energy to $1 billion a year by the end of the decade, van Beurden said, although it is still a small part of its total annual spending of $25 billion.

The CEO said that the transition to a low carbon energy system will take decades and government policies including putting a price on carbon emissions will be essential to phase out the most polluting sources of energy such as coal and oil.

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Shell cuts debt with US$7.25 billion sale of Canada oil sands

9 March 2017

TORONTO (BLOOMBERG) – Royal Dutch Shell will sell almost all its production assets in Canada’s oil sands in a US$7.25 billion (S$10.24 billion) deal that cuts debt and reduces involvement in one of the most environmentally damaging forms of fossil-fuel extraction.

The company will sell all of its oil-sands interests apart from a 10 per cent stake in the Athabasca Oil Sands mining project, The Hague-based Shell said on Thursday (March 9). It will also continue as operator of the Scotford upgrader and Quest carbon capture and storage project.

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Shell’s CEO Van Beurden total pay jumps in 2016

Royal Dutch Shell (RDSa.L) said on Thursday its chief executive Ben Van Beurden saw his total pay jump 60 percent in 2016 to 8.263 million euros from 5.135 million a year earlier mainly due to deferred bonuses and share plans.

Van Beurden’s salary was little changed at 1.460 million euros and his bonus fell to 2.4 million euros from 3.5 million, however, from the company’s long-term incentive plan and deferred bonuses he received 4.381 million euros, up from 163,000 a year earlier.

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Shell Fears Reopening Twice-Bombed Nigerian Pipeline

By Zainab Calcuttawala – Mar 06, 2017, 4:40 PM CST

Royal Dutch Shell fears that reopening a pipeline in Nigeria will cause local separatist groups to re-bomb the facility for a third time, according to reports emerging from the area.

The Trans Forcados Pipeline, which takes 400,000 barrels to the Forcados export terminal every day, has been out-of-operation for all but three weeks in the past year, according to risk analysis published by SBM intelligence on Friday.

Previously, militants dove underwater to install bombs near the section of the pipeline in the Atlantic Ocean that they aimed to destroy. Shell brought in underwater engineers to repair the pipeline in an act of defiance against the militants and their most sophisticated attack to date.

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How Nigeria Created the Insecurity in Ogoniland and How to Deal with It

This post is the opinion of Fegalo Nsuke, Publicity Secretary of The Movement for the Survival of the Ogoni People (MOSOP).

The disharmony between Nigeria and the Ogoni people over oil may be a familiar terrain, the recent and heightened security situation in Ogoni may no longer be news. But what may not be well known is how the Nigerian government significantly contributed to the current insecurity involving armed bandits in Ogoni.

In the past one month, I have toured all parts of Ogoniland. From Nyokhana, to Ken-Khana, Gokana, Bori special area, Tai, Eleme and Ban Ogoi special area. Despite the largely inflated insecurity problem, it was glaring that there was little, insignificant Police presence in the Ogoni.

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Pawnee Nation Sues Oklahoma Oil Companies in Tribal Court Over Earthquake Damage

By THE ASSOCIATED PRESS: MARCH 4, 2017

OKLAHOMA CITY — A Native American tribe here has filed a lawsuit in its own tribal court system accusing several oil companies of causing an earthquake that damaged near-century-old tribal buildings.

The Pawnee Nation alleges in its lawsuit filed Friday that wastewater injected into wells operated by the defendants caused the 5.8-magnitude quake in September. The tribe is seeking compensation for damage to public and personal property and market value losses, as well as punitive damages.

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Nigeria wants Shell to open major pipeline but attack feared

By MICHELLE FAULThe Associated Press: March 4, 2017

JOHANNESBURG (AP) — Nigeria wants Royal Dutch Shell to reopen one of its main pipelines but the oil multinational is resisting, analysts say, for fear it could once again be bombed by militants.

The Trans Forcados Pipeline, the main feed to the 400,000-barrel-a-day Forcados export terminal, has been shut for all but three weeks of the past year, Lagos-based SBM Intelligence said in its weekly risk analysis published Friday.

In their most sophisticated attack, militants used divers to blow up an underwater section of the pipeline in the Atlantic a year ago. Defying militant death threats, Shell flew in underwater engineers who took seven months to get the pipeline operational.

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On board Shell’s Prelude barge, the world’s biggest vessel

PAUL GARVEY: Resources reporter, Perth: 4 March 2017

The biggest vessel the world has ever seen is in the final stages of preparation ahead of its maiden voyage to its permanent home off Australia’s northwest coast.

Royal Dutch Shell’s revolutionary Prelude floating liquefied natural gas facility — 50 per cent longer and six times the weight of the world’s largest aircraft carrier — is deep into the commissioning process at a shipyard in Korea, with the 120 Australians who will man the vessel already on board to familiarise themselves with the monster.

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