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Shell sees no risk of ‘stranded assets’ as reserves life shrinks

FILE PHOTO: Electric car chargers are seen at the Holloway Road Shell station where Shell is launching its first fast electric vehicle charging station in London, Britain October 18, 2017. REUTERS/Mary Turner/File Photo

Dmitry Zhdannikov: APRIL 12, 2018 LONDON (Reuters) – Royal Dutch Shell said on Thursday it saw little risk of having “stranded assets” in its portfolio as the world shifts to low carbon energy because the oil major will have four-fifths of its current oil and gas reserves extracted before 2030 anyway. 

Shell has one of the lowest reserves life ratio among its peers and last year it saw reserves plunging to new lows after divesting a large number of assets.

The major now sits on 12.2 billion barrels of oil equivalent, down from 13.2 billion at the end of 2016, and enough to sustain the current annual production of 1.383 billion barrels for less than nine years. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Fossil fuels blown away by wind in cost terms: study

New onshore wind and solar energy projects are set to deliver electricity more cheaply than fossil fuels plants, with other green technologies also rapidly gaining a cost advantage over dirty fuels, a report published Saturday said. 

According to a new cost analysis from the International Renewable Energy Agency (IRENA), within two years “all the renewable power generation technologies that are now in commercial use are expected to fall within the fossil fuel-fired cost range, with most at the lower end or undercutting fossil fuels”.

It expects renewables will cost between three and 10 US cents per kilowatt hour (kWh) by 2020, while the current cost spectrum for fossil fuel power generation ranges from five to 17 US cents per kWh. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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