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Shell’s Arctic oil plans face shareholder scrutiny

Extracts from article by Ed King published by RTCC.org (Responding to Climate Change) on 25 February 2014

Screen Shot 2013-11-01 at 09.31.18Shareholders in Royal Dutch Shell face warnings today that the company’s ambitious plans for Arctic oil and gas exploration are placing its future profits at risk. So far Shell has spent around $5 billion exploring for hydrocarbons in one of the world’s most challenging environments, with little guarantee of success. Shell’s last major attempt to explore the Arctic in 2012 was hit by a series of calamities.The authors of the report say Shell has not learnt from those mistakes, and want shareholders to ask the oil giant’s new chief executive Ben Van Beurden if plans are in place to address these concerns.

FULL ARTICLE

Shareholders in Royal Dutch Shell face warnings today that the company’s ambitious plans for Arctic oil and gas exploration are placing its future profits at risk.

So far Shell has spent around $5 billion exploring for hydrocarbons in one of the world’s most challenging environments, with little guarantee of success.

– See more at: http://www.rtcc.org/2014/02/25/shells-arctic-oil-plans-face-shareholder-scrutiny/#sthash.6S80KYGn.dpuf

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