Shell inks new $10bn credit facility to progress to net-zero
Oil and gas giant Shell has announced the agreement of a new $10 billion revolving credit facility to help progress the firm towards its net-zero target.
Shell said the new facility replaces its existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks.
The Bank of America and Barclays Bank acted as joint co-ordinators for the facility.
Interest and fees paid on the facility will be linked to Shell’s progress towards reaching its short-term net-zero carbon goal.
Shell set a target within its latest Sustainability Report to cut the carbon footprint of the energy products it sells by around 50% by 2050 and by 20% by 2035 as society moves towards meeting the aims of the Paris Agreement.
Shell has also set a three-year target to reduce its Net Carbon Footprint by 2% to 3% by 2021 as compared to 2016.
Russell O’Brien, group treasurer at Shell, said: “We are delighted to support the transition to new benchmark interest rates with this, market leading, syndicated SOFR facility
“This is an innovative deal which also demonstrates Shell’s broad-based commitment to reducing the Net Carbon Footprint of the energy products we sell.
“We appreciate the strong support and commitment from our relationship banks.”
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
