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April, 2021:

Shell raises dividend for second time in six months after first-quarter earnings beat forecasts

Shell raises dividend for second time in six months after first-quarter earnings beat forecasts

Sam Meredith: PUBLISHED THU, APR 29 20212:09 AM EDT

KEY POINTS
  • The Anglo-Dutch company reported adjusted earnings of $3.2 billion for the three months through to the end of March. Analysts had expected $3.1 billion, according to Refinitiv.
  • Shell also raised its dividend by around 4%, its second increase in six months.
  • It comes as energy majors seek to reassure investors that they have gained a more stable footing in recent months.

LONDON — Oil giant Royal Dutch Shell on Thursday reported slightly better-than-expected first-quarter earnings, amid stronger commodity prices and growing expectations of a fuel demand recovery.

Shell also raised its dividend by around 4%, its second increase in six months, as the oil major seeks to reassure investors it has gained a more stable footing. It comes after Shell slashed its payout for the first time since World War II in April last year. read more

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Malabu Scandal: UK group declares support for Nigerian anti-corruption activist

Malabu Scandal: UK group declares support for Nigerian anti-corruption activist

By Premium Times: April 28, 2021: 10 min read A UK anti-corruption group, Global Witness, has declared support for a Nigerian activist, Olanrewaju Suraju, who was recently questioned by the police based on a petition by Nigeria’s former attorney-general, Mohammed Adoke.

Mr Suraju’s civil society organisation, HEDA, and other international anti-graft CSOs including Global Witness have been at the forefront of the demand for justice over the Malabu OPL 245 scandal involving Mr Adoke and many others including oil giants, Shell and Eni.

While the prosecution of the suspects is still ongoing in Nigeria, a court in Milan recently discharged the oil giants and their officials who were named in the scandal which involved the transfer of about $1 billion from the oil giants to private Nigerian accounts for the control of an oil block, OPL 245. Mr Adoke was involved in the negotiation as Nigeria’s attorney general during the Goodluck Jonathan administration but has denied any wrongdoing. read more

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DFS to automate Shell’s sites in the UK, South Africa and Hungary

DFS to automate Shell’s sites in the UK, South Africa and Hungary

The global supplier’s EPOS and FCC solution will be implemented across 1,100 stations in three countries.

Last update: April 27, 2021

Dover Fueling Solutions (DFS) has been awarded three contracts by Shell for the provision of its site automation across its 1,100 sites in the United Kingdom, Hungary and South African markets.

“The award of these contracts is a significant achievement for DFS and further solidifies our long-standing collaboration with Shell. It also demonstrates Shell’s recognition of DFS’ proven ability to provide quality, continuous improvement and innovative, state-of-the art products for the energy and retail market,” said Kurt Dillen, VP, Global Business Development at DFS. read more

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OPL 245: Withdraw Your Defamatory Fraud Allegations Or Face Legal Action, UK Anti-Corruption Group Tells Adoke

OPL 245 Scandal: Withdraw Your Defamatory Fraud Allegations Or Face Legal Action, UK Anti-Corruption Group Tells Adoke

It vowed to initiate legal action against the former minister if no retraction is made within the next 10 days

BY SAHARA REPORTERS, NEW YORK APR 25, 2021

One of the leading anti-corruption groups in the UK, The Corner House has threatened legal action in response to a widely publicised complaint sent on behalf of former Nigeria’s Attorney General, Mohammed Bello Adoke (SAN) to the Police Inspector-General that the Mutual Legal Assistance, (MLA) made by UK to Italy which aided his recent judgment in Milan, was forged. read more

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The World’s Largest Gas Flaring Environmental Disaster

Senior executive directors of Royal Dutch Shell Plc had advance sight some days ago of a draft of the article below. It is a follow-up article by a whistleblower whose identity is known to us.

The World’s Largest Gas Flaring Environmental Disaster Shell Exposing The World Bank Group to Corruption & US Sanctions

Under Shell’s egregious stewardship, Iraq is literally burning billions of dollars in lost revenue, and the country’s power plants are being deprived of the much-needed fuel supply to end Iraq’s chronic power crisis.  The power outages have been the main destabilizing force in the country, which have also often led to mass protesting, civil unrest, and countless civilian casualties.    

By: The Iraqi Governance Revolt & Systemic Overhaul!

Introduction

Iraq holds the 12th largest natural gas reserve in the world, however, the country equally represents 12% of global gas flaring, “suggesting there may be systematic and structural barriers to reducing gas flaring practices,” according to the latest Global Gas Flaring Tracker Report produced by The World Bank Group.

Although officially signed in 2011, Royal Dutch Shell (Shell) formalized the establishment of its gas monopoly in Iraq, the $17 billion Basrah Gas Company (BGC), in May 2013, which also gave birth to the so called ‘world’s largest flare reduction program’. read more

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New York City sues Exxon, BP, Shell in state court over climate change

New York City sues Exxon, BP, Shell in state court over climate change

By Reuters Staff: April 22, 2021

(Reuters) – New York City is suing three major oil companies and the top industry trade group in state court after a federal appeals court this month rejected its effort to hold the companies liable to help pay the costs of harm caused by global warming.

The lawsuit filed on Thursday said Exxon Mobil Corp, BP Plc, Royal Dutch Shell and industry group the American Petroleum Institute “have systematically and intentionally misled consumers” about “the central role their products play in causing the climate crisis.” read more

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Will Big Oil’s Huge Carbon Capture Bet Pay Off?

Will Big Oil’s Huge Carbon Capture Bet Pay Off?

By Tsvetana Paraskova – Apr 21, 2021, 1:00 PM CDT

“We’re sending carbon back where it came from,” Norway’s energy giant Equinor says, describing its efforts to make carbon capture and storage (CCS) commercially viable in a future decarbonized energy system. Equinor is a joint venture partner with two other oil majors, Shell and Total, in developing the Northern Lights project in Norway, which is planned to deliver carbon storage as a service to help third-party industries to reduce emissions. read more

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International Groups Condemn Detention of Nigerian Anti-corruption Campaigner

International Groups Condemn Detention of Nigerian Anti-corruption Campaigner

We will be raising Mr Suraju’s totally unjustified detention with the board of the Extractive Industries Transparency Initiative (EITI) and calling for Nigeria’s suspension.

BY SAHARA REPORTERS, NEW YORK APR 21, 2021

International Anti-Corruption and Human Rights Groups have condemned the detention of Nigerian Anti-Corruption Activist and Chairman of HEDA Resource Center, Olanrewaju Suraju, for exposing corruption allegations surrounding the acquisition of the OPL 245 oil field by oil multinationals Shell and Eni. read more

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Officials give notice to Shell refinery on emissions release

Officials give notice to Shell refinery on emissions release

ANACORTES, Wash. (AP) — The Northwest Clean Air Agency issued Tuesday a violation notice against the Shell Puget Sound Refinery for the release of emissions in August and September.

The refinery, on March Point near Anacortes, may face a financial penalty because of the incidents, which impacted the surrounding community including the Swinomish Indian Tribal Community, the Skagit Valley Herald reported.

The notice said two flaring events exceeded allowable, visible emissions for more than 5 minutes. The first occurred on Aug. 19, and the second on Sept. 29. The air agency received 12 complaints and verified the presence of odors following the Sept. 29 incident, according to a news release. read more

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Energy Giants Ditch Oil and Coal Projects. Smaller Rivals Want Them

Energy Giants Ditch Oil and Coal Projects. Smaller Rivals Want Them.

BP, Rio Tinto and others sell assets for financial and environmental reasons, in possible boon for those who still embrace fossil fuels

By David Hodari: April 21, 2021 5:30 am ET

For all the talk of a transition away from fossil fuels, players in the energy sector are still willing to bet there is more money to be made in oil and coal.

Major oil companies such as BP PLC and Royal Dutch Shell PLC are selling billions of dollars of assets to bolster their finances and reduce carbon emissions, while mining companies including Anglo American PLC and Rio Tinto PLC have exited coal projects. read more

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Brazil sees solar boom ahead of cut in subsidies for new projects

Brazil sees solar boom ahead of cut in subsidies for new projects

FILE PHOTO: A photovoltaic solar panel farm is seen in Porto Feliz, Sao Paulo state, Brazil February 13, 2020. REUTERS/Amanda Perobelli

By : 2 MIN READ: APRIL 20, 2021

(Reuters) – Power utilities and developers are rushing to register solar projects in Brazil, one of the most promising markets for renewables, as it prepares to cut subsidies for new solar installations and wind farms, according to a report by consultancy ePowerBay. read more

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Shell’s maiden trial for hydrogen fuel cell in ships to aid Singapore’s clean fuel ambitions

Shell’s maiden trial for hydrogen fuel cell in ships to aid Singapore’s clean fuel ambitions

HIGHLIGHTS
  • Shell, SembCorp Marine Ltd, LMG Marin AS, Penguin International to collaborate on the project
  • Trial to develop, install auxiliary power unit PEM fuel cell on existing roll-on/roll-off vessel
  • Initiative part of Shell Singapore’s plan to cut its CO2 emissions by about a third within a decade.

Singapore — Shell said April 21 it would collaborate on a feasibility study to trial the use of hydrogen fuel cells for ships, the first of its kind for both Shell and in Singapore, paving the way for cleaner and hydrogen-powered shipping.

“This trial is an important step in demonstrating the applicability of hydrogen and fuel cells on ships,” the statement quoted Nick Potter, general manager of Shell Shipping and Maritime, Asia Pacific & Middle East, as saying. read more

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Shell to trial use of hydrogen fuel cells for ships in Singapore

Shell to trial use of hydrogen fuel cells for ships in Singapore

Jessica Jaganathan: April 21, 2021

Royal Dutch Shell (RDSa.L) said on Wednesday it was conducting a feasibility study with partners to trial the use of hydrogen fuel cells for ships in Singapore, the first such move for the oil major.

If successful, the trial will pave the way for cleaner, hydrogen-powered shipping, the company said, adding that its analysis points to hydrogen with fuel cells as the zero-emissions technology having the greatest potential to help the shipping sector achieve net-zero emissions by 2050. read more

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Activists gear up for a fight over green-washing at AGMs

Activists gear up for a fight over green-washing at AGMs

: April 20, 2021

Spring is the season for annual general meetings and this year they provide a test of environmental credentials. Activist non-government organisations (NGOs) have tabled ambitious resolutions to several UK-listed companies and they are keen to remind asset managers with voting rights of their stewardship responsibilities to investors and the planet.

Barclays (BARC)Rio Tinto (RIO)BP (BP.) and Royal Dutch Shell (RDSB) are subject to resolutions from NGOs seeking ambitious commitments in keeping with the Paris Climate Agreement. Its objective is to limit global temperature increases to two degrees Celsius above pre-industrial levels, with strenuous efforts to keep the rise to just one-and-a-half degrees. read more

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A great deception’: oil giants taken to task over ‘greenwash’ ads

Damian Carrington Environment editor: Mon 19 Apr 2021 06.01 BST

Some of the world’s biggest fossil fuel companies have used advertising to “greenwash” their ongoing contribution to the climate crisis, according to files published by the environmental lawyers ClientEarth. They describe the practice as “a great deception”.

The files compare the adverts produced by ExxonMobil, Aramco, Chevron, Shell, Equinor and others with the companies’ operations and products, overall climate impact and progress toward climate-safe business models. read more

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Shell calls on investors to vote for its new climate strategy

Jillian Ambrose: Thu 15 Apr 2021 13.58 BST

Royal Dutch Shell has urged investors to vote for its strategy to shift the business towards cleaner energy sources, despite warnings that the plan does not go far enough to meet the Paris climate agreement goals.

The oil company set out its energy transition plan before its annual shareholder meeting in May, when investors will be able to take part in an advisory vote on Shell’s climate plans for the first time. The vote will not be binding. read more

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The World Still Needs Hundreds Of Billions Of Barrels Of Oil

The World Still Needs Hundreds Of Billions Of Barrels Of Oil

By Haley Zaremba – Apr 14, 2021, 2:00 PM CDT

Has peak oil demand already come and gone? That’s an exceptionally hard question to answer. There are some experts that say unequivocally, yes. They claim that peak oil is already upon us, thanks to the crushing blow that the Covid-19 pandemic dealt to global oil demand as well as the ever-escalating worldwide transition toward clean energy. But there are just as many who say that the world’s thirst for oil still has a long way to go before we hear its swan song. read more

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Shell looks to Gulf of Mexico for lower carbon oil drilling; here’s what it means for Louisiana

Shell looks to Gulf of Mexico for lower carbon oil drilling; here’s what it means for Louisiana

Despite headwinds from corporate mandates to reduce carbon emissions, a temporarily halt for new federal leases in the Gulf of Mexico while the Biden administration reviews its impact on climate change and low oil prices, Royal Dutch Shell sees itself drilling for more oil off the coast of Louisiana and Texas.

“We still think that we’ll be here for decades to come,” said Rick Tallant, vice president Gulf of Mexico at Shell. “There’s still a lot of running room in the Gulf of Mexico, the margins are very good for our investors and the greenhouse gas intensity is arguably the best in the industry.” read more

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OPL 245: Abacha family and Malabu trial scandal

OPL 245: Abacha family and Malabu trial scandal

14 April 2021

Ten years after an international inquiry into the circumstances surrounding the sale of OPL 245 oil field by Malabu Oil and Gas Limited to Shell and its partners, ENI and Agip, for a princely sum of $1.3 billion following the resolution agreement of 2011 was opened, findings so far have revealed no evidence of corrupt practices on the part of those involved in the deal.

And, like a pack of badly arranged cards on a shaky table, the case of criminal prosecution against Mohammed Bello Adoke, Nigeria’s former attorney-general and minister of justice and the man whose legal advice formed part of the processes leading to the resolution agreement of 2011, and international oil giants, Shell, ENI and Agip, over their respective roles in the sale of OPL 245 appears to be collapsing from one international jurisdiction to the other. From Washington to London and Milan, the efforts of the Federal Government and its partners to proceed with the criminal prosecution of Bello Adoke and others have been fruitless and unsuccessful. read more

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Houston, We Have A Problem. Oil Reserves Have Fallen Below 10 Years

Houston, We Have A Problem. Oil Reserves Have Fallen Below 10 Years

Tim TreadgoldAsia: Apr 12, 2021

Big oil has a big problem. It’s running out of oil.

Years of under-investment in exploration and a decline in project development has blown a hole in the reserves of the major international oil companies (IOCs), a group that includes ExxonMobil, Chevron and Royal Dutch Shell.

Since 2015 the average reserves of the oil majors has fallen by 25% to now stand at less than 10 years of annual production.

Reserves in the ground is a critical measure of an oil company with a decline seen as a negative by investors. read more

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Shell Outlines Plans for Reducing Its Own Carbon Footprint

Shell Outlines Plans for Reducing Its Own Carbon Footprint

The energy giant has high hopes for sustainable aviation fuel

While energy giant Shell may not be the first name that comes to mind when you think of sustainability, it’s looking to change that by “reduc[ing] the carbon intensity of all the energy that we sell by 2050.”

That’s according to Dean Aragón, CEO of Shell Brands International AG, who said the company has set milestones toward becoming a net-zero emissions energy business for the years 2023, 2030 and 2035 that are “very clear, measurable and quantifiable targets on the decarbonization journey.” He did not provide specifics. read more

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Shell invests in LanzaJet in bid to produce more green jet fuel

Shell invests in LanzaJet in bid to produce more green jet fuel

London — Shell has invested in bio-jet producer LanzaJet as the energy major looks to increase its presence in the production of renewable fuels.

LanzaJet, which is a spin-off of US-based biotech company LanzaTech, said on April 6 said that Shell’s involvement will “further accelerate commercialization” of its “Alcohol-to-Jet” technology as the aviation sector takes steps to reduce its carbon footprint. read more

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NAM disputes Groningen gas extraction earthquake damage claims

NAM disputes Groningen gas extraction earthquake damage claims

THURSDAY, APRIL 1, 2021 – 10:00

NAM, the Dutch gas concern responsible for gas extraction in Groningen, raised doubts about the level of damage claims and the home strengthening operation in the fracking earthquake zone in the province. In a statement, NAM said that a major part of the damages was wrongly attributed to earthquakes, and that the standards of the reinforcement project are far too strict, NOS reports.

According to NAM, the risks in the earthquake zone are grossly overestimated, and as a result, many homes will be reinforced with measures that far outweigh the risks, “for some buildings even by a factor of a thousand to ten thousand”. “This leads to unnecessary feelings of insecurity among residents and additional costs.” read more

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Oil Giants Win Climate Suit as Judges Push For Political Fix

Oil Giants Win Climate Suit as Judges Push For Political Fix

Chevron Corp., Royal Dutch Shell Plc and ConocoPhillips were also sued in the case.

Bloomberg News: Chris Dolmetsch and Erik Larson: Publishing date: Apr 01, 2021(Bloomberg) — New York City failed to persuade a federal appeals court to reinstate a climate-change lawsuit against Exxon Mobil Corp., BP Plc and three other oil companies, with the judges saying the problem demands political rather than legal solutions.

The Friday ruling by the U.S. Court of Appeals in New York is a setback for those trying to use the courts to hold the industry responsible for costs associated with rising seas and other consequences of a warming planet.

Chevron Corp., Royal Dutch Shell Plc and ConocoPhillips were also sued in the case.

The court said global warming “is a uniquely international concern” that requires the federal government to step in rather than judges. Only the U.S. Environmental Protection Agency has the authority to regulate domestic greenhouse gas emissions, the unanimous three-judge panel held. read more

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