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Big Oil to attend U.S. House climate disinformation hearing

Reuters

Big Oil to attend U.S. House climate disinformation hearing

WASHINGTON, Oct 22 (Reuters) – Top executives from Exxon Mobil Corp, BP America, Chevron Corp and Shell Oil will testify on Oct. 28 at a congressional hearing examining whether the fossil fuel industry led an effort to mislead the public and prevent action to curb climate change warming, a House panel said on Friday.

Reporting Valerie Volcovici, Timothy Gardner and Doina Chiacu; Editing by Bill Berkrot read more

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Joe Lycett to tackle greenwashing for Channel 4

Joe Lycett to tackle greenwashing for Channel 4

By Harry Bennett: Monday, 11th October 2021

Lycett will focus on the energy giant Shell and their marketing as they continue to search for new oil reserves.

In May 2021, the International Energy Agency published a report that outlined a plan to reach net zero emissions by 2050, including a call for an end to the exploration and development of new oil fields.

That same month, the District Court in The Hague judged that Shell’s parent company, Royal Dutch Shell, currently “disregards its individual responsibility” to reduce its overall emissions. It ordered the group to start reducing them by 45% by 2030, but they confirmed in July 2021 that they will appeal the ruling. read more

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Shell offloads Permian Basin assets to ConocoPhillips for $9.5bn

The Times

Shell offloads Permian Basin assets to ConocoPhillips for $9.5bn

Callum Jones, US Business Correspondent: Tuesday September 21 2021

Royal Dutch Shell pledged to return more than £5 billion to shareholders after selling out of America’s largest oilfield.

The Anglo-Dutch oil company has agreed to offload its operations in the Permian Basin to ConocoPhillips for $9.5 billion in cash.

The energy group had spent the summer considering its future in what has been deemed the world’s most important oil and gas site, having pledged to take bold action to reduce carbon emissions amid mounting pressure from campaigners. read more

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Vermont sues 4 oil companies, alleges false info on climate

The Washington Post:

Vermont sues 4 oil companies, alleges false info on climate

By Wilson Ring | AP: 14 Sept 2021 at 2:22 p.m. EDT

BURLINGTON, Vt. — Vermont on Tuesday became the latest state to sue some of the country’s top fossil fuel companies by alleging they misled the public about the impact their products have on climate change.

The suit names ExxonMobil Corporation, Shell Oil Company, Sunoco LP, CITGO Petroleum Corporation and other corporations.

“They have known for decades that the Earth’s climate has been changing because of emissions of CO2 and other greenhouse gases, and that the fossil fuels they sell are the primary source of those emissions,” the lawsuit said. read more

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Code red for humanity?

CITY A.M.com

Shell and BP: why we’re hopeful for a sensible transition to renewables

Sue Noffke: Monday 6 September 2021 9:13 am

The devastating effects of unchecked global warming were laid bare by this week’s landmark report from the Intergovernmental Panel on Climate Change (IPCC).

UN secretary-general António Guterres described the report’s findings as “a code red for humanity”.

The world’s major energy companies were already on the front line of the climate change battle, but following this week’s report public scrutiny of the industry can only intensify. read more

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Shell unit commits to renewable-powered Timi gas project offshore Malaysia

Reuters Shell unit commits to renewable-powered Timi gas project offshore Malaysia

Aug 30 (Reuters) – Royal Dutch Shell plc (RDSa.L) said on Monday its subsidiary Sarawak Shell Berhad (SSB) has taken a final investment decision on the Timi gas development project offshore Malaysia, which will powered by solar and wind sources.

The offshore wellhead project, developed with its partners Petronas Carigali and Brunei Energy Exploration, could see peak production of up to 50,000 barrels of oil equivalent per day (boe/d) and will move gas to the F23 production hub via an 80 kilometer-long pipeline, the company said in a release. read more

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Extinction Rebellion activists glued to Science Museum site in Shell protest

Extinction Rebellion activists glued to Science Museum site in Shell protest

Kevin Rawlinson and agency: Sun 29 Aug 2021 20.09 BST

Extinction Rebellion protesters have glued or locked themselves to the railings inside the Science Museum, in a protest against the oil firm Shell’s sponsorship of its exhibition about greenhouse gases.

They chanted, “Hey hey, ho ho, sponsor Shell has got to go” as those outside sang “No more petrol, no more diesel, funding fossil fuels is evil”, waved flags and banners, played drums and blew whistles. read more

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Merger Mania Is Over: Oil Deals To See Quietest Year In Decades

OILPRICE.COM

Merger Mania Is Over: Oil Deals To See Quietest Year In Decades

Extracts

Sir Winston Churchill once admonished leaders to never let a good crisis go to waste, and Big Oil has rarely failed to heed the advice. Under normal circumstances, energy downturns have created perfect opportunities for deep-pocketed oil and gas heavyweights to land prime assets on the cheap. A good case in point: the last oil bust of 2016 was followed by a sizable number of huge M&A deals in the sector including the $60B tie-up between Royal Dutch Shell (NYSE:RDS.A) and BG Group, Canadian Oil Sands and Suncor EnergyEnergy, as well as a handful that fell through including the proposed merger between Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BKR). read more

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U.S. Gulf of Mexico oil producers consolidation accelerates

REUTERS

U.S. Gulf of Mexico oil producers consolidation accelerates

HOUSTON (Reuters) – Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry’s future.

The top 10 producers – led by Royal Dutch Shell, BP Plc and Chevron – this year pumped 86% of the region’s 1.6 million barrels per day (bpd), up about 11 percentage points since 2017, data from regulator Bureau of Safety and Environmental Enforcement (BSEE) shows. read more

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Nigeria: Oil Spillages – After 31 Years of Legal Battles Shell Agrees to Pay Ogoni N45bn

12 August 2021

Abuja — Shell Petroleum Development Company of Nigeria (SPDC), has finally agreed to pay compensation for oil spillages in the Ogoni community of Rivers State, to the tune of N45 billion, after over 31 years of legal battles.

The legal battle, which commenced in 1991, saw judgment in favour of the Ogoni community in 2010 by Justice Ibrahim Buba of the Lagos division of the Federal High Court.

But the oil giant declined payment and proceeded up to the Supreme Court twice; first in 2017 to appeal the judgment of the Court of Appeal, which had upheld the judgment of the trial court and in 2019, seeking a review of the apex court judgment dismissing its appeal. read more

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Shell to pay $111m over decades-old oil spills in Nigeria

Agence-France Presse: Thu 12 Aug 2021 00.46 BST

Royal Dutch Shell has agreed to pay around €95m (£80.4m/$111.6m) to communities in southern Nigeria over crude oil spills in 1970, lawyers involved in the case have said.

“The order for the payment of [$111m] to the claimants is for full and final satisfaction of the judgement,” a local spokesman for Shell Petroleum Development Company of Nigeria said on Wednesday.

Lucius Nwosa, a lawyer representing the Ejama-Ebubu community in Rivers state, confirmed the decision. read more

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UK Litigation Against Royal Dutch Shell Plc

VOLTERRA FIETTA

UK Supreme Court issues new decision on parent company liability in Okpabi and others v. Royal Dutch Shell Plc and another

BRIEF EXTRACTS FROM E-NEWSLETTER 10 AUGUST 2021

On 12 February 2021, the Supreme Court issued its unanimous judgment in Okpabi and others v. Royal Dutch Shell Plc and another [2021] UKSC 3, declaring that a claim brought by over 40,000 residents of two communities in the Niger Delta against two Shell group companies over alleged oil spills could proceed to the merits stage. 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.

Science Museum under fire for signing a ‘gagging clause’ in Shell sponsorship deal

Museums Association

SMG under fire for ‘gagging clause’ in Shell deal

Geraldine Kendall Adams: 30 July 2021

The Science Museum Group (SMG) has defended signing a “non-disparagement” agreement with the oil company Shell, the controversial sponsor of the Science Museum’s Our Future Planet exhibition on carbon capture technology.

The so-called “gagging clause” was part of a contract between the two parties obtained by the anti-oil campaign group Culture Unstained under the Freedom of Information Act, which was reported on Channel 4 News this week. 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 CEO Says Company Will Appeal Climate Ruling

Bloomberg

Shell CEO Says Company Will Appeal Climate Ruling

by Bloomberg| Laura Hurst & Diederik Baazil | Wednesday, July 21, 2021

(Bloomberg) — Royal Dutch Shell Plc said it will appeal a ruling by a Dutch court which ordered it to cut its carbon emissions by 45% over the next decade.

Shell has said it will speed up its energy transition plans in response to the order, but is looking to overturn it so it can stick to its own climate timetable. After intense pressure from investors, the May 26 ruling showed companies’ hands may increasingly be forced by courts, and result in far-reaching implications for the global energy industry. read more

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Shell to Boost Shareholder Returns as Business Gets Stronger

Bloomberg

Shell to Boost Shareholder Returns as Business Gets Stronger

By Laura Hurst: 7 July 2021, 07:15 BST Updated on 7 July 2021, 08:08 BST

  • Energy giant will distribute 20-30% of operational cash flow
  • Company to further reduce its net debt, keep lid on capex

Royal Dutch Shell Plc will boost returns to investors later this month, while still paying down debt, as its core businesses get stronger due to a recovery in energy demand and rising prices.

The Anglo-Dutch giant will raise total distributions to shareholders to between 20% and 30% of cash flow from its operations, starting when it announces second-quarter results on July 29, the company said in a statement on Wednesday. It didn’t specify whether they would take the form of dividends or share buybacks. read more

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Chevron, partners go ahead with $4 bln project at Gorgon LNG

REUTERS

Chevron, partners go ahead with $4 bln project at Gorgon LNG

MELBOURNE, July 2 (Reuters) – Chevron Corp (CVX.N) and its partners in the Gorgon LNG project off Western Australia have agreed to go ahead with a $4 billion project to improve gas recovery from offshore wells and keep the huge liquefied natural gas plant filled for 40 years.

Chevron is the operator of Gorgon LNG and owns 47% of the project. Its partners are Exxon Mobil Corp (XOM.N), Royal Dutch Shell (RDSa.L), Osaka Gas (9532.T), Tokyo Gas (9531.T) and JERA (9501.T)(9502.T). 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.

Renewable Energy Soars As Exxon, Shell Falter

FORBES

Renewable Energy Soars As Exxon, Shell Falter

Miriam TuerkInvesting

As many know, Big Oil companies have suffered major losses as a result of the pandemic, as oil demand plummeted. Now, however, the prospects for the industry are looking more dismal than ever. As oil supermajors have faced increasing pressure to shift toward more sustainable business strategies, such pressure will certainly result in companies looking to renewables as the solution to this shift.

Recently, both Exxon Mobil and Royal Dutch Shell were hit with critical climate-related decisions. A Netherlands court ruled that Shell must drastically reduce its emissions this decade in what was “the first time a court ordered a private company to, in effect, change its business practice on climate grounds.” This was a seminal moment that will greatly benefit the clean technology space, leading it to become the norm, and no longer the alternative source for power in society. read more

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The Unintended Consequences Of Punishing Big Oil

OILPRICE.com

The Unintended Consequences Of Punishing Big Oil

By Tsvetana Paraskova – Jun 23, 2021, 12:00 PM CDT

The ‘day of reckoning’ for Big Oil, when events at boardrooms and courtrooms issued last month the starkest warning to oil majors’ license to operate yet, was hailed as a huge victory for climate activists. But the climate celebration may be a bit premature.

Rebel shareholder votes at Exxon and Chevron and a court ruling against Shell delivered a blow to Big Oil in a single day, and environmentalists are ecstatic. 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.

Supreme Court Allows San Francisco, Oakland Lawsuits Against Big Oil Companies To Proceed

CBS SF

Supreme Court Allows San Francisco, Oakland Lawsuits Against Big Oil Companies To Proceed

SAN FRANCISCO (CBS SF) – Two more ambitious lawsuits would be hard to image: in 2017 the cities of Oakland and San Francisco filed separate public nuisance lawsuits against five of the world’s biggest energy companies, seeking to hold them responsible for the local effects of sea level rise.

On Monday, the U.S. Supreme Court declined to throw the suits out of court, although the cases still face many daunting obstacles ahead. read more

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OPL 245: Groups Urge Nigeria’s Public Prosecutor To Appeal Judgement Favouring Shell, APC

OPL 245: Groups Urge Nigeria’s Public Prosecutor To Appeal Judgement Favouring Shell, APC

In a statement on Wednesday, spokesperson for the campaign groups noted that the judges have set a terrible precedent for the global fight against corruption involving fossil fuel companies.

BY SAHARAREPORTERS, NEW YORK JUN 10, 2021

Human Rights Groups, Global Witness, Human and Environmental Development Agenda, have urged the Nigerian public prosecutor to appeal the judgement of the Milan Tribunal which acquitted Eni, Shell and others for international corruption related to the acquisition of the OPL 245 oil field in Nigeria. read more

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Shell’s Australia boss says Big Oil faces a push for faster change

Shell’s Australia boss says Big Oil faces a push for faster change

By Nick Toscano

The Australian boss of global energy giant Shell says society’s growing determination to speed up the shift to cleaner energy has driven a sharp escalation of climate pressure engulfing oil and gas producers this year.

In his first public comments since a Dutch court ordered Shell to set deeper and faster emissions cuts targeting a 45 per cent reduction by 2030, Shell Australia chairman Tony Nunan said he believed industry, governments and the public were becoming increasingly aligned on the need to achieve net-zero emissions by the middle of the century. read more

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Shell climate case verdict: ‘A stark warning to any corporate polluter’

euronews.green

Shell climate case verdict: ‘A stark warning to any corporate polluter’

By Johnny White

Last week a Dutch court ruled that one of the world’s biggest oil companies, Royal Dutch Shell, must reduce its greenhouse gas emissions by almost half in the next nine years.

It’s no exaggeration to say this landmark verdict, which linked the need for the fossil fuel company to decarbonise to climate science and human rights, is a watershed moment for corporate climate accountability.

The case, brought by Friends of the Earth Netherlands and over 17,000 Dutch citizens, established that Shell was in breach of its duty of care under the Dutch Civil Code, informed by its human rights responsibilities, by contributing dangerously to climate change. read more

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Forget Activism: Chronic Underperformance Is Big Oil’s Biggest Problem

OilPrice.com

Forget Activism: Chronic Underperformance Is Big Oil’s Biggest Problem

By Alex Kimani – Jun 06, 2021, 7:00 PM CDT

Just last week, some of the world’s largest integrated energy companies faced the wrath of furious investors and climate activism. Exxon Mobil (NYSE:XOM) lost three board seats to Engine No. 1, an activist hedge fund, in a stunning proxy campaign, while a good 61% of Chevron (NYSE:CVX) shareholders voted to further cut emissions at the company’s annual investor meeting a week ago.

Engine No. 1 has told the Financial Times that Exxon will need to cut fossil fuel production for the company to position itself for long-term success, “What we’re saying is, plan for a world where maybe the world doesn’t need your barrels,” Engine No.1 leader Charlie Penner has told FT.

Meanwhile, a Dutch court has ordered Royal Dutch Shell (NYSE:RDS.A) to cut its greenhouse gas emissions harder and faster than it had previously planned.

Whereas climate change issues are the presumptive reasons behind the latest wave of investor revolts at the oil and gas giants, lurking beneath the surface is a growing sense of apprehension about Big Oil’s strategy and failure to generate adequate returns for shareholders in recent decades. 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.

OPEC, Russia seen gaining more power with Shell Dutch ruling

REUTERS

OPEC, Russia seen gaining more power with Shell Dutch ruling

Dmitry Zhdannikov: June 1, 2021

Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.

Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L), ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco… 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.

Big Oil’s Very Bad Wednesday

Seeking Alpha

Big Oil’s Very Bad Wednesday

May 30, 2021 11:55 PM ETBNO, CVX, DBE… MV Financial

Summary

  • Those paying attention to the market chatter this week may have heard the phrase “Black Wednesday” pass the lips of pundits who study the fossil fuels industry, though the events didn’t result in any kind of immediate panic-selling by investors of energy shares.
  • At the annual shareholder meeting of Exxon Mobil, the company ceded at least two seats on its board of directors to a climate activist group called Engine No. 1.
  • At Chevron’s general meeting, shareholders voted on a measure to set strict emissions targets from the products it sells.
  • A Dutch court in The Hague, Netherlands, ruled that Royal Dutch Shell must reduce its carbon emissions by 45 percent by 2030 against its 2019 levels – on an absolute basis, which is stricter than the carbon intensity targets that the company prefers to use as its benchmarks. Black Tuesday 1929 turned out to be a big deal.
  • read more

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    Oil Giants Get 20-Year License Extension from Nigeria

    allAfrica.com

    Oil Giants Get 20-Year License Extension from Nigeria

    The Nigerian National Petroleum Corporation has signed a contract with its partners on oil mining lease (OML) 118 to expand the Bonga oilfield and unlock a U.S.$10 billion investment in the country’s deepwater resources. The OML license for the block partners Shell, Total, Exxon Mobil and Eni were renewed for another 20 years, and five agreements including settlements on a tax dispute and production sharing contracts were finalized. The deal signals the end of “long-standing disputes over the interpretation of the fiscal terms of the production-sharing contracts” between the investors in the field. 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.

    OPL 245 Saga: Anti-corruption groups applaud President’s stance

    THE SUN

    OPL 245 Saga: Anti-corruption groups applaud President’s stance

    27 MAY 2021

    By Henry Uche

    Human & Environmental Development Agenda, HEDA, Re: Common, Corner House and Global Witness have applauded President Buhari’s insistence that the oil field could not be developed until corruption cases had concluded.

    HEDA’s Chairman, Olarenwaju Suraj in a statement revealed that the license for Nigeria’s offshore OPL 245 oil block has expired, as Eni confirmed in response to questions at their 2021 annual general meeting. The expiry of the license returns control of the oil field to the Nigerian Government. 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.

    Court orders Shell to slash CO2 emissions in landmark climate ruling

    CNN

    Court orders Shell to slash CO2 emissions in landmark climate ruling

    “This is a turning point in history,” said Roger Cox, lawyer for Friends of the Earth Netherlands.

    Updated 2000 GMT (0400 HKT) May 26, 2021

    London (CNN Business)A Dutch court has ruled that Royal Dutch Shell must dramatically reduce its carbon emissions in a landmark climate decision that could have far reaching consequences for oil companies.

    The company must slash its CO2 emissions by 45% by 2030 from 2019 levels, according to a judgment from a district court in The Hague on Wednesday. That includes emissions from its own operations and from the energy products it sells.

    This is the first time that a court has ruled a company needs to reduce its emissions in line with global climate goals, according to Friends of the Earth Netherlands, an environmental campaigning group that brought the case against Shell (RDSA).

    The verdict could pave the way for similar cases to be brought in other countries, forcing oil companies to reduce fossil fuel production. It comes just a week after the influential International Energy Agency told oil companies they need to stop drilling for oil and gas right now to prevent a climate catastrophe.

    The Anglo-Dutch company announced plans in September to become a net zero emissions company by 2050, a target that includes emissions from its products. It is currently targeting a 20% reduction in carbon intensity by 2030, and 45% by 2035.

    “This is a turning point in history,” said Roger Cox, lawyer for Friends of the Earth Netherlands.

    “This case is unique because it is the first time a judge has ordered a large polluting corporation to comply with the Paris Climate Agreement. This ruling may also have major consequences for other big polluters,” added Cox.

    The impact of the decision will be amplified because the court relied on global human rights standards and international instruments on climate change in arriving at its decision, according to legal experts.

    “I can imagine this will inspire a series of other cases against companies, especially those active in the oil extraction industries like Shell,” said Eric De Brabandere, a professor of international dispute settlement at Leiden University in the Netherlands. “It is a groundbreaking decision, it’s really a landmark.”

    Mounting pressure

    While Shell claims that its carbon intensity targets are aligned with the Paris Agreement — which aims to limit global temperature increases to 1.5 degrees Celsius — Friends of the Earth Netherlands argues that the company’s ongoing investments into oil and gas extraction show that it doesn’t take climate change seriously.

    The court found that Shell’s carbon emissions pose a “very serious threat” to Dutch residents, and that the company has an “individual responsibility” to reduce emissions. The court said the company would have “total freedom” to comply with its order and to shape corporate policy.

    Shell indicated it would appeal the ruling, which is immediately enforceable, according to De Brabandere.

    “We are investing billions of dollars in low-carbon energy, including electric vehicle charging, hydrogen, renewables and biofuels. We want to grow demand for these products and scale up our new energy businesses even more quickly. We will continue to focus on these efforts and fully expect to appeal today’s disappointing court decision,” a Shell spokesperson said in a statement.

    Oil companies are facing mounting pressure from shareholders and activists to ditch fossil fuels and invest into cleaner energy sources. The ruling handed down on Wednesday “may sound revolutionary, but, in fact, it is in line with what long term investors are increasingly asking companies to do anyway,” said Cees van Dam, a professor of international business and human rights at the Rotterdam School of Management.

    At its annual meeting on Wednesday, ExxonMobil (XOM) will face a challenge from activist investor Engine No. 1, which is seeking to replace 

    almost a third 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.

    Court orders Royal Dutch Shell to cut carbon emissions by 45% by 2030

    The Guardian

    Court orders Royal Dutch Shell to cut carbon emissions by 45% by 2030

    Daniel Boffey: Wed 26 May 2021 15.25 BST

    A court in the Hague has ordered Royal Dutch Shell to cut its global carbon emissions by 45% by the end of 2030 compared to 2019 levels, in a landmark case brought by Friends of the Earth and over 17,000 co-plaintiffs.

    The oil giant’s sustainability policy was found to be insufficiently “concrete” by the Dutch court in an unprecedented ruling that will have wide implications for the industry. 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 faces Dutch court ruling on global emissions

    EnergyVoice.com

    Shell faces Dutch court ruling on global emissions

    By Ed Reed: 24 May 2021

    A court in The Hague will rule on May 26 on a climate case against Shell, led by Friends of the Earth Netherlands (Milieudefensie).

    The environmentalist case demands that Shell cut CO2 emissions by 45% by 2030. Success for the NGO would see the corporation ordered to “reduce its emissions in line with global climate goals”.

    The outcome, it said, should “impact climate policy and corporate accountability globally”. It does not seek compensation, rather a change to Shell’s business plan. 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.

    Baton Rouge-based firm bids $1.25 bln for Shell’s idled Louisiana refinery

    Baton Rouge-based firm bids $1.25 bln for Shell’s idled Louisiana refinery

    CONTRIBUTOR: : PUBLISHED MAY 24, 2021 2:07AM EDT

    HOUSTON, May 24 (Reuters) – American Clean Energy Refining LLC (ACER) is bidding to buy an idled refinery of Royal Dutch Shell Plc RDSa.L in Convent, Louisiana, the chief executive of the Baton Rouge-based company said on Sunday night.

    ACER has offered $1.25 billion for the idled 211,146 barrel-per-day (bpd) Convent refinery, which was shut in December 2020, Chief Executive Officer George Dabbs said.

    A Shell spokesman was not immediately available for comment. read more

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    Shell Green Plans Under Scrutiny as Holders Seek More Action

    Shell Green Plans Under Scrutiny as Holders Seek More Action

    Laura Hurst

    (Bloomberg) — Royal Dutch Shell Plc has been under increasing pressure from investors to slash emissions and pivot toward cleaner energy, and the tension was on show at its shareholder meeting on Tuesday.

    The company’s long-term energy transition plan, laid out to investors for the first time, received overwhelming support, but a competing resolution asking for stricter targets also garnered more votes than ever. Adding to the tension, shareholders were meeting as the International Energy Agency warned that all new oil and gas developments need to stop immediately for climate targets to be met. read more

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    Shell in talks with Nigeria to divest onshore oil stakes

    REUTERS

    Shell in talks with Nigeria to divest onshore oil stakes

    May 18, 2021: Shell, the operator of the West African country’s onshore oil and gas joint venture SPDC, has struggled for years with spills in the Niger Delta as a result of pipeline theft and sabotage as well as operational issues. The spills have led to costly repair operations and high-profile lawsuits. Speaking at the company’s annual general meeting, CEO Ben van Beurden said that Shell can no longer be exposed to the risk of theft and sabotage.  read more

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    U.S. Supreme Court backs energy companies over Baltimore in climate case

    U.S. Supreme Court backs energy companies over Baltimore in climate case

    WASHINGTON (Reuters) – The U.S. Supreme Court on Monday ruled in favor of BP PLC, Chevron Corp, Exxon Mobil Corp, Royal Dutch Shell PLC and other energy companies contesting a lawsuit filed by the city of Baltimore seeking monetary damages from them due to costs caused by global climate change.

    The 7-1 ruling, authored by conservative Justice Neil Gorsuch, came on a technical legal issue that could help the companies in their effort to have the case heard in federal court, as they would prefer, instead of state court, which the city favors as it is seen as a more amenable venue. read more

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    Vote against Shell’s energy transition strategy, Pirc urges investors

    Vote against Shell’s energy transition strategy, Pirc urges investors

    : Tuesday 11 May 2021

    Shareholder advisory PIRC has recommended investors vote against Shell’s non-binding resolution on its energy transition strategy at its annual meeting next week.

    The Pensions & Investment Research Consultants (PIRC), a major proxy advisory, said Royal Dutch Shell’s strategy to cut emissions “does not seem to have a clear plan for the competitive aspects of the energy transition.” 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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    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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    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 To Tie Executive Bonus Pays With Energy Transition Goals

    Shell To Tie Executive Bonus Pays With Energy Transition Goals

    By Tsvetana Paraskova – Mar 29, 2021, 11:30 AM CDT

    Oil and gas supermajor Shell is set to tie the bonuses for its top executive directors more closely to the group’s performance in reaching its net-zero goals, if shareholders approve the plan at the annual general meeting in May, Reuters reported on Monday.

    Two years ago, Shell became the first supermajor to set short-term emission reduction targets and link these targets with executive pay, yielding to growing investor pressure about establishing short-term emission goals. read more

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    Big Oil Clashes Over Fossil Fuel Future

    Big Oil Clashes Over Fossil Fuel Future

    By Charles Kennedy – Mar 02, 2021, 9:00 AM CST

    Executives from major oil companies clashed over the prospects of oil and gas for the future at the first virtual edition of the CERAWeek conference in Houston.

    While BP’s Bernard Looney and Shell’s Ben van Beurden boasted about their shift away from their core business and into renewable energy, Baker Hughes, Hess Corp., and Spain’s Repsol were among those believing that fossil fuels have yet to leave the scene for good, the Houston Chronicle’s Paul Takahashi reports. read more

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    Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions

    Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions

    Wed., March 3, 2021, 9:15 p.m.

    CALGARY — The president and country head for Shell Canada says its transition into a provider of cleaner energy is being driven by a network of “agile teams” of employees who are examining between 30 and 40 project ideas at a time.

    Michael Crothers says the teams formed from employees brought in from various parts of the company are looking at proposals that include the use of hydrogen, biofuels, and wind and solar energy to help the company reduce its environmental impact. read more

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    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

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    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

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    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

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