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Posts from ‘February, 2021’

Which Banks Are The Biggest Backers Of Oil And Gas?

Which Banks Are The Biggest Backers Of Oil And Gas?

About a month ago, BlackRock Inc.(NYSE:BLK), the world’s largest asset manager with $9 trillion in assets under management (AUM), sent shockwaves through the fossil fuel sector after it vowed to double down on climate activism by backing more shareholder resolutions on climate change and social issues in 2021.

Around the same time, the $226 billion New York State pension fund and the $5B Rockefeller Brothers Fund announced plans to divest the majority of their fossil fuel investments and also sell shares of other companies that have been actively contributing to global warming. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

EU should include ‘methane performance’ standard in emissions legislation: Shell

EU should include ‘methane performance’ standard in emissions legislation: Shell

London — The EU should include a “methane performance” standard in its upcoming legislative proposals to tackle the issue of methane emissions to ensure it only imports gas from countries with similar policies, a senior official from Shell said Feb. 24.

Speaking during IP Week, Shell’s head of integrated gas, Maarten Wetselaar, said Europe has a major role to play in helping reduce methane emissions from upstream activity. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell delays US offshore production start ups

 

Shell delays US offshore production start ups

Published date: 22 February 2021 Shell has delayed the startup of the PowerNap and Vito deepwater projects in the US Gulf of Mexico because of Covid-19-related issues.

The first oil date for PowerNap has been delayed to early 2022, and the first oil date for Vito has been delayed to 2022, the company said. Both were expected to start up late this year to coincide with an expansion of the Mars offshore crude pipeline system.

“Covid-19-related delays, including reductions in personnel and the impacts of Covid-19 barriers on day-to-day working, have impacted project timelines,” Shell said.

Vito is expected to reach peak production of about 100,000 b/d of oil equivalent (boe/d) and PowerNap is expected to have a peak capacity of 35,000 boe/d. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

With oil past peak, Shell sharpens 2050 zero emissions goal

By Ron Bousso and Shadia Nasralla

LONDON (Reuters) – Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as its oil output declines from a 2019 peak.

The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in the face of growing investor pressure on the oil and gas sector to battle climate change.

Shell last year laid out a plan to reach net zero by 2050, in line with the Paris climate agreement and European Union ambitions, but it said the goal depended on its customers. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Canada’s Crescent Point to buy Shell’s Kaybob assets for C$900 mln

Canada’s Crescent Point to buy Shell’s Kaybob assets for C$900 mln

Feb 17 (Reuters) – Canadian oil and gas producer Crescent Point Energy Corp said it has agreed to buy Kaybob Duvernay assets in Alberta from oil major Royal Dutch Shell’s unit for C$900 million ($708.77 million). ($1 = 1.2698 Canadian dollars) (Reporting by Rithika Krishna in Bengaluru; Editing by Bernard Orr) SOURCE
royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Nigerian court blocks Shell’s accounts over alleged oil theft

Nigerian court blocks Shell’s accounts over alleged oil theft

By Ben Ezeamalu: February 17, 2021

The Federal High Court in Lagos has granted an interim Mareva injunction directing commercial banks to block Shell Petroleum Development Company of Nigeria Ltd accounts.

A Mareva injunction is a court order freezing a party’s assets, until the determination of a case they are involved in, to stop them from taking it abroad.

The order was in a bid to recover the cash equivalent of more than 16 million barrels of crude oil allegedly diverted by the oil giant from AITEO Eastern E & P Company Ltd. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Europe pulls ahead in race for hydrogen, as global project pipeline grows: report

Hydrogen Council members – including Royal Dutch Shell Plc, BMW, Microsoft Corp and Sinopec – plan to increase hydrogen investments six-fold through 2025, from 2019 levels.

Europe pulls ahead in race for hydrogen, as global project pipeline grows: report

FILE PHOTO: The new Febus hydrogen bus is seen before a presentation in Pau, France, January 14, 2020. REUTERS/Regis Duvignau/File Photo

By : FEBRUARY 17, 2021

BRUSSELS (Reuters) – Most of the world’s planned hydrogen projects and the biggest chunk of related investments this decade are expected to be in Europe, an industry report said on Wednesday, as the continent races to scale up the low-carbon fuel to meet climate goals. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Deer Park, Texas, refinery and chemical plant shut – company

Shell Deer Park, Texas, refinery and chemical plant shut – company

Reuters Staff: FEBRUARY 16, 2021

HOUSTON (Reuters) – Royal Dutch Shell Plc shut its 318,000 barrel-per-day joint-venture Deer Park, Texas, refinery because of severe cold weather, the company said on Tuesday

The company’s adjoining chemical plant was also shut.

“Shell’s Deer Park facility has shut down due to unprecedented weather in the region,” the company said in an email. “As a result, flaring is expected to increase in the near term. There is no threat to the surrounding community and we continue to contribute power to the regional grid by way of our cogeneration facilities.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Shuts Down 310,000 Bpd Deer Park Refinery

Shell Shuts Down 310,000 Bpd Deer Park Refinery

By Charles Kennedy – Feb 15, 2021, 9:30 AM CST

Shell has shut down the crude distillation units of its Deer Park refinery due to a malfunction, Reuters has reported, citing unnamed sources familiar with the matter.

The two crude distillation units have a combined capacity of 310,000 barrels of oil daily. According to the Reuters sources, they were shut down after a seal failed on a pump that feeds crude to other units at the refinery. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

U.K. High Court Says Nigerians Can Sue Shell in Britain Over Oil Spills

U.K. High Court Says Nigerians Can Sue Shell in Britain Over Oil Spills

The Dutch energy company has a presence in Britain, and a judge ruled there was “a real issue to be tried.”

Stanley Reed

: Feb. 12, 2021

LONDON — Britain’s Supreme Court said Friday that a group of about 50,000 Nigerian farmers and fishermen could bring a case in London’s High Court against Royal Dutch Shell over years of oil spills in the Niger Delta that have polluted their land, wells and waterways.

The judges said there was the potential that a parent company like Shell, which has its headquarters in the Netherlands but a large British presence, has responsibility for the activities of subsidiaries like the Shell Petroleum Development Company of Nigeria, which operates in the delta region. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Nigerians Can Sue Shell in U.K. Over Spills, Top Court Says

Nigerians Can Sue Shell in U.K. Over Spills, Top Court Says

Bloomberg News: William Clowes: Publishing date: Feb 12, 2021

(Bloomberg) — Thousands of Nigerians can sue Royal Dutch Shell Plc in London over environmental damage in the West African nation, the U.K.’s top court said.

The Supreme Court on Friday reversed two earlier rulings that blocked the case from being heard in England. The decision could pave the way for similar claims from the developing world against British companies.

The ruling is the second legal setback for Shell, headquartered in The Hague, in recent weeks after a Dutch court ordered the company’s Nigerian subsidiary to pay compensation for spills that occurred more than 13 years ago. The prospect of more lawsuits in Europe comes at a bad time for the company as it outlines its plans to transition to cleaner energy.The residents of fishing and farming communities in the crude-rich Niger Delta region say oil spills from pipelines operated by Shell’s local unit have destroyed their land and livelihoods. More than five years after filing their lawsuit, the roughly 42,000 individuals represented will be allowed a trial where they can try to persuade a U.K. court to order the energy giant to pay compensation and clean up the pollution.

Force Rethink?

The decision may force other U.K. multinationals to rethink how they operate abroad, says lawyer Rick Munro. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell plans show steep curve ahead for carbon offset market

Shell plans show steep curve ahead for carbon offset market

By Reuters: FEBRUARY 12, 2021

LONDON (Reuters) – Royal Dutch Shell has set forth plans for nature-based carbon offsets, derived from forestry and soil stewardship projects, which outstrip the entire global market in its current form, as do its carbon capture and storage (CCS) capacity aims.

Graphic: Shell’s carbon offset ambition

Graphic: Big Oil’s 2019 greenhouse gas emissions Big Oil’s 2019 greenhouse gas emissions read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell LNG Canada’s coronavirus restart plan approved

Shell LNG Canada’s coronavirus restart plan approved

·

Feb 12 (Reuters) – Royal Dutch Shell’s LNG Canada export project in British Columbia has won approval from health officials for construction to ramp back up with improved coronavirus protection measures.

Work at the site was curtailed last month by an order from the Provincial Health Officer which applied to five major industrial projects in British Columbia, including LNG Canada.

“Our approved restart and measured workforce increase at the project site will continue over the coming months,” LNG Canada and JGC I Fluor, the engineering joint venture building the project, said in a statement on Thursday. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell pays $191K fine for 2015 refinery incident

Shell pays $191K fine for 2015 refinery incident

11 Feb 2021

MOUNT VERNON, Wash. (AP) — Shell Oil Products U.S. has paid a $191,000 fine for the release of pollutants from its Shell Puget Sound Refinery north of Seattle in Skagit County.

The fine comes via a legal settlement with the U.S. Environmental Protection Agency to resolve federal Clean Air Act violations, The Skagit Valley Herald reported.

During refinery maintenance on Feb. 20, 2015, several operating procedures were violated, resulting in the release of about 700 pounds of pollutants. Hydrogen sulfide, dimethyl sulfide, mercaptans, pyrophoric iron and benzene were released over a period of more than three hours. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell to expand gas business despite pledge to speed up net zero carbon drive

 

Jillian Ambrose: Thu 11 Feb 2021 09.40 GMT

Shell has set new carbon emissions goals to become a net zero carbon energy company by 2050, but will continue to grow its gas business by more than 20% in the next few years.

Shell’s goal is to be net zero carbon company within 30 years, including the emissions from burning its fossil fuels. But the plans have raised concerns among green campaigners that Shell may still increase its emissions in the coming decade, which is considered a crucial period to avoid a climate catastrophe. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

EPA fines Shell Oil $191,000 over release of toxic vapors from Anacortes refinery

EPA fines Shell Oil $191,000 over release of toxic vapors from Anacortes refinery

by KOMO News Staff:

SEATTLE – The company that operates the Anacortes oil refinery will pay a $191,000 fine for violations of the Clean Air Act stemming from a 2015 release of toxic vapors that sickened dozens of local residents of the area.

The fine, part of a settlement with the Environmental Protection Agency, is in addition to previous fines of over $420,000 levied by the Northwest Clean Air Agency and the Washington Safety and Health Agency against Shell Oil Products U.S. over the incident. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

How Biden should meet his promise to cut fossil fuel emissions

How Biden should meet his promise to cut fossil fuel emissions

Full power of US Clean Air Act must be used to cut oil and gas sector’s methane output 9 FEB 2021 Extracts

It is clear, however, that the oil and gas sector’s concerns over methane emissions have reached a breaking point.

The industry’s shift follows decades of climate denial and obfuscation. The industry eventually turned to voluntary commitments such as the Oil and Gas Climate Initiative, insisting they would suffice in place of the force of law. But under immense investor and public pressure, some of the oil majors, including BP, Shell, ExxonMobil, Total, and Equinor, have now publicly announced support for government regulation of methane pollution read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

FILE PHOTO: A combination of file photos shows the logos of five of the largest publicly traded oil companies; BP, Chevron, Exxon Mobil, Royal Dutch Shell, and Total. REUTERS/File Photo

TORONTO (Reuters) – Hedge funds are turning bullish on oil once again, betting the pandemic and investors’ environmental focus has severely damaged companies’ ability to ramp up production. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Nigeria negotiates terms with Big Oil to keep investments

Nigeria negotiates terms with Big Oil to keep investments

LAGOS (Reuters) – Nigeria’s state oil company is renegotiating commercial contract terms with major oil firms, its chief told Reuters, in a move that it hopes will keep investment flowing into a sector crucial for its economy at a time when spending is being slashed.

Africa’s largest oil exporter and biggest economy relies on the oil sector for half of its budget and 90% of its foreign exchange. It wants to raise revenue but also attract investment. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell May Re-evaluate Oil Operations Onshore Nigeria

Shell May Re-evaluate Oil Operations Onshore Nigeria

By Charles Kennedy – Feb 05, 2021, 1:30 PM CST

Persistent issues with theft and sabotage in the Niger Delta could prompt Shell to take a hard look at its operations onshore Nigeria, the supermajor’s chief executive Ben van Beurden said this week.

“Our onshore oil position, despite all the efforts we put in against theft and sabotage, is under challenge,” van Beurden told reporters, as carried by Reuters, after Shell reported another set of weak Big Oil results affected by the pandemic. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil giant Shell follows rivals into huge loss

Oil giant Shell follows rivals into huge loss

“2020 was an extraordinary year,” said Chief Executive Ben van Beurden. “We have taken tough but decisive actions,” he said, with Shell having already announced plans to axe up to 9,000 jobs, or more than 10 percent of its global workforce.

Published on: Friday, February 05, 2021: By AFP

LONDON: Royal Dutch Shell on Thursday became the latest oil major to reveal huge annual losses as the coronavirus pandemic slashed energy demand and prices in 2020.

Shell dived into a net loss of $21.7 billion (18.1 billion euros) last year as factories shut and planes were grounded. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell makes record loss in 2020 after more write-offs

Shell makes record loss in 2020 after more write-offs

Published date: 04 February 2021

Shell posted a record loss in 2020 after it booked more hefty write-offs in the fourth quarter.

Excluding inventory effects, Shell made a loss of $4.48bn in the October-December period, compared with a profit of $871mn a year earlier. The quarterly loss was largely driven by pre-announced, non-cash post-tax impairment charges of $2.7bn and charges of $1.1bn mainly for “onerous contract provisions”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell plans to complete construction at Pennsylvania petchem project by 2022: CEO

Shell plans to complete construction at Pennsylvania petchem project by 2022: CEO

PETROCHEMICALS: 04 Feb 2021 | 21:06 UTC: New York

New York — Shell Chemical announced that construction at its $6 billion petrochemical complex in Pennsylvania is expected to be completed in 2022, Shell CEO Ben Van Beurden said during an earnings call Feb. 4.

Shell previously expected the Pennsylvania project to start up in the first half of 2021 after suspending work in mid-March 2020 due to coronavirus pandemic concerns. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil major Shell reports sharp drop in full-year profit, raises dividend

Oil major Shell reports sharp drop in full-year profit, raises dividend

Sam Meredith@SMEREDITH19: PUBLISHED THU, FEB 4 20212:31 AM EST UPDATED THU, FEB 4 20213:18 AM EST KEY POINTS
  • Shell reported adjusted earnings of $4.85 billion for the full-year 2020. That compared with a profit of $16.5 billion for the full-year 2019.
  • The company said it would raise its first-quarter dividend to $0.1735 per share, reflecting an increase of 4% from the previous quarter.
  • The results come as energy giants seek to reassure investors about their future profitability, following a dreadful year for the global oil and gas industry by virtually every measure.

LONDON — Oil giant Royal Dutch Shell on Thursday reported a sharp drop in full-year profit as the coronavirus pandemic took a heavy toll on the global oil and gas industry.

Shell reported adjusted earnings of $4.85 billion for the full-year 2020. That compared with a profit of $16.5 billion for the full-year 2019, reflecting a drop of 71%. Analysts polled by Refinitiv had expected full-year 2020 net profit to come in $5.15 billion. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell ‘on verge’ of signing Post Office broadband deal

Shell ‘on the verge’ of signing Post Office broadband deal

Shell has, this weekend, edged closer to buying the Post Office’s broadband operations, in a deal that would push it further into the UK telecoms market.

The news comes following a weekend of talks between the FTSE 100 (^FTSE) giant and postal service, according to reports from Sky News.

Negotiations have now been in play for nearly two months. In early December, it was reported that Shell had slipped into poll position for the acquisition, with TalkTalk (TALK.L) and Sky also expressing an interest in the business. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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