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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

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 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

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 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

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.

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

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 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

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 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.

Shell Is Back in Court for Nigeria Oil Spills Liability Ruling

Shell Is Back in Court for Nigeria Oil Spills Liability Ruling

Bloomberg News: Laura Hurst and Diederik Baazil: Jan 29, 2021

(Bloomberg) — Royal Dutch Shell Plc faces the latest ruling in a long-running legal dispute with Nigerian farmers who say the energy giant is responsible for oil leaks that have polluted their villages.

The case is the first in which a company and its foreign subsidiary have been tried in the Netherlands for allegedly breaching duty of care abroad, and it could have far-reaching implications for future suits brought against oil firms. 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.

World’s top oil trader retiring from Shell

World’s top oil trader retiring from Shell

Javier Blas and Laura Hurst, Bloomberg News: 9 Dec 2020

Royal Dutch Shell Plc is shaking up its mighty in-house trading unit, with the retirement of Mark Quartermain as head of crude — a job widely seen as the most powerful in the global oil-trading industry.

The Anglo-Dutch oil major used the reshuffle to promote at least three women to top positions in trading, a rarity for an industry still dominated by men.

Quartermain will retire in the summer of 2021, less than four years after taking the job, having led the team through one of the most turbulent and profitable periods in history. He will be replaced by Stacie Pitts, who becomes the most influential woman in the oil-trading 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.

Shell Wants Biden to Reverse Methane Emissions Rollback

Bloomberg: Shell Wants Biden to Reverse Methane Emissions Rollback

David Wethe:

(Bloomberg) — Royal Dutch Shell Plc will push for the reversal of President Donald Trump’s rollback of methane emissions rules and the introduction of carbon pricing when Joe Biden moves into the White House next year.

“Some of the regulatory rollbacks that we’ve seen under the current administration haven’t actually benefited our industry,” Shell U.S. President Gretchen Watkins said Tuesday on a webcast hosted by the Greater Houston Partnership. 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 Repays Dues To Oil Majors

Nigeria Repays Dues To Oil Majors

By Tsvetana Paraskova – Oct 20, 2020, 12:30 PM CDT

The Nigerian National Petroleum Corporation (NNPC) has repaid most of the arrears it owes to international oil companies for joint venture operating expenses, recently repaying US$3 billion to Exxon and Shell, Bloomberg reported on Tuesday, citing a statement from the Nigerian state oil firm.

NNPC works in joint ventures with the major international oil producers in Nigeria, including ExxonMobil, Chevron, Shell, Total, and Eni. However, the stretched finances of the Nigerian company has led to arrears in its payments for contributions to the operating expenses of those joint ventures. 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 Divest Oil Drilling Rights off North Alaska Coast

Shell Plans to Divest Oil Drilling Rights off North Alaska Coast

Sept. 24, 2020, 10:40 PM Jennifer A. Dlouhy: Bloomberg News

Shell Oil is planning to divest — not drill — an oil prospect in shallow state waters off Alaska’s northern coast, despite a recent filing with regulators, spokesman Curtis Smith said.

Shell Offshore Inc. had asked state regulators to combine 18 shallow-water leases and create the West Harrison Bay Unit “in order to pursue a commercial agreement with an alternative operator,” Smith said by email

“Shell has no intention to operate these leases, which were originally purchased in 2012 and are due to expire in 2022” 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 Most Profitable Business Is No Longer Oil

Big Oil’s Most Profitable Business Is No Longer Oil

It’s been a rough year for oil, to say that least. And the worst isn’t over yet. Even though oil demand, and therefore oil prices, have been slowly recovering, that upward trajectory is now running out of steam and we’re headed toward a slump amidst what will almost certainly be a yearslong recession in the wake of the economic fallout from the devastating spread of the novel coronavirus. 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 Long Bet on Hydrogen Offers a Climate Lifeline

Big Oil’s Long Bet on Hydrogen Offers a Climate Lifeline

Bloomberg News: Will Mathis and Akshat Rathi: June 25, 2020 6:06 AM EDT: Last Updated June 25, 2020 8:48 AM EDT

(Bloomberg) — On particularly cold winter days, the vast majority of the U.K.’s energy comes from burning natural gas. That arrangement will have to change radically–and soon–if the country is to hit its legally mandated target of net-zero emissions by 2050. As other countries adopt similar targets to align with the Paris climate agreement, they too will have to find an alternative to natural gas. That leaves fossil fuel companies with a ticking clock.

Hydrogen burns cleanly, leaving only water behind. That’s made it an attractive alternative fuel source–not just for governments looking to satisfy climate mandates, but also for oil companies trying to ensure their continued relevance. Oil-and-gas majors such as Shell, Equinor, and BP have spent tens of millions of dollars on pilot projects. Now in the face of record-low oil prices, frozen international travel, and growing shareholder unease over greenhouse gas emissions, investing in hydrogen has taken on a new urgency. 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.

Electric Car Charging Stations Are Finally About to Take Off

Bloomberg News: Laura Millan Lombrana and Rachel Morison: June 23, 2020

Electric Car Charging Stations Are Finally About to Take Off

(Bloomberg) — The electric vehicle sector has been stuck for years with a chicken-and-egg problem. Until there were extensive networks of public charging stations, a critical mass of people would never feel comfortable driving EVs–but until a critical mass of people were driving EVs, there was no sense in investing in extensive networks of public charging stations.

It may be the coronavirus pandemic that finally breaks the stalemate. BloombergNEF’s latest Long-Term Electric Vehicle Outlook predicts that EVs sales will experience a smaller dip than traditional auto sales as a result of the broader economic squeeze, and that they’ll bounce back more quickly once the market recovers. EVs and the infrastructure needed to charge them have also been a part of many of the stimulus packages announced by European and Asian governments. Just in the past few weeks, Germany included chargers in its €2.5 billion proposed economic package, and the European Union announced that it’s aiming to have 1 million public chargers by 2025, from fewer than 200,000 today. 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 Spill Clean-Ups in Nigeria Lack Progress, Groups Say

Oil Spill Clean-Ups in Nigeria Lack Progress, Groups Say

William Clowes: Bloomberg: June 17, 2020

(Bloomberg) –Nigeria and Royal Dutch Shell Plc have failed to implement most recommendations made by the United Nations to clean up oil pollution in the Niger River delta, according to a new report.

The UN Environment Programme in 2011 proposed the creation of a $1 billion fund to repair the damage done by decades of crude spills in the Ogoniland area in southeastern Nigeria. However, progress has been poor and the little work that has been done is sub-standard, advocacy groups including Amnesty International said 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.

Oil Firms Raise $171 Billion in Debt as Virus Hits Fuel Demand

Bloomberg News: Jacqueline Poh: May 29, 2020: 10:51 AM EDT

Bloomberg) — Oil and gas companies worldwide have raised $171 billion of debt from the loan and bond markets since March after the coronavirus pandemic hit demand for fuel.

The $171 billion tally is equivalent to the volume of bonds sold for the industry in the whole year of 2019. The debt pile is set to grow further with almost $120 billion of borrowings due by the end of the year that will need to be either repaid or refinanced. Of that amount, $43 billion is in bonds and $76 billion in loans. 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 Offers Staff Voluntary Severance Pay

Shell Offers Staff Voluntary Severance Pay

As the price of a Brent barrel is trading at nearly half of what it was at the beginning of the year, Royal Dutch Shell Plc (NYSE: RDS.A) is planning on offering some staff voluntary severance, according to Bloomberg sources.

In a note to its staff, Shell CEO Ben van Beurden said that the Dutch oil major was working to become leaner and more resilient, according to the Bloomberg sources who saw the correspondence. 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 Earnings Battered By Virus, But Worst is Yet to Come

Big Oil Earnings Battered By Virus, But Worst is Yet to Come

Laura Hurst: May 11 2020, 4:31 AM

EXTRACTS

(Bloomberg) — Big Oil emerged from first-quarter earnings battered and bruised, but things are only going to get uglier.

Major oil and gas producers from Norway to the U.S. saw profit plunge in the opening three months of the year. Exxon Mobil Corp. reported its first loss in over 30 years, Royal Dutch Shell Plc cut its dividend for the first time since the Second World War.

Big Oil’s generous dividends have long been its main attraction to investors. But thanks to Shell Chief Executive Officer Ben van Beurden they are no longer sacrosanct, after he slashed his company’s payout by two thirds. 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 Majors Take On More Debt To Fund Dividends

By Nick Cunningham – May 04, 2020, 5:00 PM CDT

Exxon posted its first quarterly loss in more than 30 years. But even as debt mounts and questions arise about peak oil demand, the oil supermajor nevertheless vowed to protect its dividend while also aiming to grow indefinitely into the future. Exxon lost $610 million in the first quarter, down from a profit of $2.4 billion a year earlier. Worse, the period only included a few weeks of oil prices at catastrophically low levels. As a result, the second quarter is bound to lead dramatically worse numbers. 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.

Bloomberg: The Next Chapter of the Oil Crisis: The Industry Shuts Down

Bloomberg News: Javier Blas: April 26, 2020

(Bloomberg) — Negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil. The next chapter in the oil crisis is now inevitable: great swathes of the petroleum industry are about to start shutting down.

The economic impact of the coronavirus has ripped through the oil industry in dramatic phases. First it destroyed demand as lockdowns shut factories and kept drivers at home. Then storage started filling up and traders resorted to ocean-going tankers to store crude in the hope of better prices ahead. 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 Sets Bolder Emissions Goal Even as Virus Hits Oil

Royal Dutch Shell Plc plans to eliminate all net emissions from its own operations and the bulk of greenhouse gases from fuel it sells to customers by 2050.

The energy giant is following in the footsteps of its peers BP Plc and Repsol SA, which have already set similar targets. Shell’s move indicates that, despite the turmoil caused in the industry by the coronavirus, major oil and gas companies aren’t abandoning the transition to cleaner energy. 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’s 2019 Greenhouse Gas Emissions Fell Due to Asset Sales

Bloomberg News: Laura Hurst: April 7, 2020(Bloomberg)

— Royal Dutch Shell Plc’s greenhouse gas emissions edged lower last year due to asset sales, while the amount of natural gas burned off wastefully from its facilities — known as flaring — increased.

Shell’s direct emissions fell to 70 million tons of carbon dioxide equivalent in 2019 from 71 million a year earlier, it said Tuesday in a report. That’s the lowest since 2016.

“The main reasons for the decrease were divestments (for example, in Argentina, Canada, Iraq, Malaysia, Norway and the U.K.),” the report said. “These decreases were partly offset by the startup of the Prelude floating liquefied natural gas facility in Australia.” 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 LNG Dreams Fade as Blockades Add New Costs to Industry

Hopes that Canada could turn into a gas export powerhouse seem to be waning fast.

The current climate for energy investments in the country and the global market for liquefied natural gas are a far cry from October 2018, when a Royal Dutch Shell Plc-led group announced plans to build a massive LNG terminal on British Columbia’s coast and Prime Minister Justin Trudeau hailed the project as “a vote of confidence” in Canada.

The latest sign of disenchantment came this week as a C$9 billion ($6.7 billion) LNG project in Quebec lost a large potential investor, which the Canadian Broadcasting Corp. identified as Warren Buffett’s Berkshire Hathaway Inc. That follows announcements last year that Chevron Corp. is planning to sell its 50% stake in an LNG project in British Columbia, and its partner in the venture is seeking to trim its stake as well. 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.

Exxon, Shell Face Uphill Legal Battle Over Soured Nigerian Deal

Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion dollar arbitration awards they secured against Nigeria’s state oil company.

The companies accused the Nigerian National Petroleum Corp. of taking more crude than it was entitled to under four deals that were signed in 1993 to incentivise them to develop deep offshore blocks. Those projects today account for about 30% of the country’s 2 million barrels of daily output. 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 major drilling in Mexico, but oil may take years

Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government.

The global oil major plans to drill four wells this year, and a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign that will include 10 to 13 wells and cost from $800 million to $2.4 billion.

Shell has a major position in Mexico’s deep-waters at a time when access is hard to come by. Mexico’s new government under Andres Manuel Lopez Obrador, also known as AMLO, has promised to reverse the neoliberal policies of his predecessor and has canceled further auctions and joint-venture opportunities with state owned Petroleos Mexicanos. 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 Explores Adding More Cheap Ethanol to Gasoline in Iowa

BP Plc and Royal Dutch Shell Plc are exploring adding more ethanol in gasoline in top corn state Iowa to take advantage of how cheap the biofuel has become.

The oil majors are gauging driver interest at a small number of stations in 15% ethanol blends, up from the current state standard of 10%, after the Trump administration in May allowed an increase nationwide.

Adding more ethanol to gasoline may help Midwest farmers who have been struggling to find markets for corn after biofuels demand plateaued last year. Ethanol futures slumped to the lowest in more than a decade in 2019, making it unprofitable to make the biofuel that accounts for about a third of demand for the U.S. corn crop. But cheap ethanol won’t save drivers much money: At current prices, filling up a Ford-F150 would only cost about a quarter less. 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 and Total reject Chinese force majeure on liquefied natural gas contracts

Bloomberg News: China LNG Force Majeure Rejected (6:29 p.m. HK) 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 Build First Big Solar Plant in Move to Power Production

Royal Dutch Shell Plc will build its first large-scale solar farm as part of its plan to expand into power generation.

Shell, which has set itself a goal to become the world’s top electricity producer by 2030, expects to complete the plant in Queensland, Australia, early next year. The facility will indirectly supply the company’s QGC liquefied natural gas export facility, reducing that project’s carbon footprint.

“Solar is one of the building blocks of Shell’s power strategy,” said Greg Joiner, Vice-President for Shell Energy in Australia. “We are increasingly incorporating renewable energy into customer offers, as we have done here for QGC.” 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.

Nord Stream 2 Pins Hope on Germany to Clear EU Gas Rule Hurdle

Nord Stream 2 Pins Hope on Germany to Clear EU Gas Rule Hurdle

Brian Parkin: Jan 21 2020, 9:30 AM

(Bloomberg) — Nord Stream 2 expects regulators to decide by May whether its contested natural gas pipeline linking Germany to Russia will be able to operate as planned.

Already suffering U.S. sanctions, the project led by Gazprom PJSC is pinning its hopes on Germany’s Bnetza regulator to help it clear hurdles erected by European Union competition authorities.

The consortium is being financed by Royal Dutch Shell Plc; Uniper SE and Wintershall AG in Germany; France’s Engie SA; and Austria’s OMV AG. 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-Backed Developer Completes Georgia Solar Farm for Facebook

By Brian Eckhouse: 12 December 2019, 19:00 GMT

A Royal Dutch Shell Plc-backed solar developer commissioned a solar project in Georgia that will help power a Facebook Inc. data center.

Silicon Ranch Corp.’s 102.5-megawatt plant in Early County is Facebook’s first solar project in Georgia, and was developed as part of an agreement with local utility Walton Electric Membership Corp. It uses Hanwha Q Cells Co. modules that were produced at the manufacturer’s new factory in the state.

Walton Electric recently signed a deal with Silicon Ranch for another solar project in the state that will power the Facebook data center. The 107-megawatt facility in Denton is expected to be commissioned in 2021. Facebook has signed almost 950 megawatts of clean power-supply agreements this year, the third-most globally among corporations, according to BloombergNEF. 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.

Bad News for Gas Sellers as Slowdown In China Set to Worsen

Extracts

(Bloomberg) — A slowdown in gas demand growth in China, the driver of global use over the past two years, is expected to slacken further, adding to investor concern as supply continues to build.

Consumption in 2021-2025 will grow at a slower pace than it has in the current five-year period, a researcher at China’s economic planning department said at the BloombergNEF summit in Shanghai on Wednesday. Furthermore, a weaker economy and rising imports via pipeline could shrink the share of liquefied natural gas in the overall Chinese market, according to gas utility ENN Energy Holdings 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.

Shell traders post US$1B profit in fuel oil market

Javier Blas and Alaric Nightingale, Bloomberg News: 15 Nov 2019

Royal Dutch Shell Plc has made US$1 billion from trading fuel oil this year, making it one of the standout winners from rules designed to make the shipping industry greener.
Shell said last month that it made substantial money in fuel-oil trading in the third quarter, but the company didn’t disclose the size of the profits. Shell traders celebrated hitting the $1 billion mark so far, likely the biggest by any one company in fuel oil this year, by ringing a bell on the company’s trading floor in London earlier this month, people familiar with the matter said. read more

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Shell Says It’s the Oil Major Staying in Canada as Many Flee

By Kevin Orland: 14 November 2019, 12:00 GMT Updated on 14 November 2019, 16:38 GMT

*Shell Canada head Crothers points to LNG project, gas stations

*Company has no plans to divest remaining oil-sands stake

Royal Dutch Shell Plc is reassuring investors, workers, and anyone else who will listen that it’s the international oil major that’s staying in Canada as others pull up stakes.

Shell’s future in the country is largely as a natural gas producer and exporter focused on the $30 billion LNG Canada project, though the company is also committed to its local chemicals and retail businesses, Shell Canada head Michael Crothers said in an interview. read more

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Shell and EDP to Build Massachusetts’ Second Offshore Wind Farm

Bloomberg: Shell and EDP to Build Massachusetts’ Second Offshore Wind Farm

Christopher Martin: Bloomberg News Oct. 31, 2019, 7:01 PM

*Partners are planning to complete 804-megawatt project in 2025

*Mayflower wind farm will be about 20 miles south of Nantucket

Massachusetts picked a venture of Royal Dutch Shell Plc and Energias de Portugal SA to build the state’s second offshore wind farm.

The 804-megawatt Mayflower wind farm will be built about 20 miles (32 kilometers) south of the island of Nantucket and completed in 2025, according to a statement late Wednesday.

The other Massachusetts project, Vineyard Wind, is expected to become the first major offshore U.S. wind farm with 800 megawatts of capacity. That’s planned for completion in 2022.

It’s being developed by Iberdrola SA’s Avangrid utility and Copenhagen Infrastructure Partners, and was delayed in August for an additional… read more

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Big Oil Investors Bracing for Bad News as Headwinds Gather

Bloomberg News: Kevin Crowley and Kelly Gilblom: October 28, 2019

(Bloomberg) — Slumping energy prices, sluggish global demand and shrinking chemical margins are weighing on the oil industry as its biggest names prepare to announce quarterly results to investors demanding ever-higher payouts.

The so-called supermajors — Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Total SA and BP Plc — are expected to disclose a 42% plunge in third-quarter earnings, on average, when they post results this week. That drop-off is too steep to blame on the 18% decline in crude oil prices, which means executives will have some explaining to do. read more

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Shell Takes 20% Stake in Indian Solar Firm Orb Energy

Shell Takes 20% Stake in Indian Solar Firm Orb Energy

Jeremy Hodges: Oct 3, 2019 Bloomberg

(Bloomberg) — A Royal Dutch Shell Plc division took a 20% stake in Indian solar firm Orb Energy Pvt Ltd. as part of a drive to deliver a reliable source of electricity to 100 million people in the developing world by 2030.

Orb Energy, based in Bengaluru, south India, provides credit to small and medium sized firms to invest in solar panel systems. Founded in 2006, Orb Energy has sold over 160,000 solar systems in India with a total capacity of 75 megawatts.

“This is a vital and growing sector, with great potential to contribute to the country’s renewable energy ambitions,” Brian Davis, vice president in the Shell Energy Solutions division said in a statement. read more

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Kazakhstan Seeking Additional $1B From Shell, Eni

Bloomberg: Kazakhstan Seeking Additional $1B From Shell, Eni

by  Bloomberg: Nariman Gizitdinov: Thursday, September 26, 2019

Bloomberg) — Royal Dutch Shell Plc, Eni SpA and their partners in the Karachaganak oil and gas venture may be required to pay an additional $1 billion to settle a dispute with Kazakhstan over revenue sharing, said people familiar with the matter.

The claim from the Central Asian nation’s government comes on top of last year’s similar-sized settlement from the Karachaganak partners. Kazakhstan has a history of disputes with international investors over revenue, taxes and cost-sharing at its energy projects. read more

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Shell Leads Big Oil in the Race to Invest in Clean Energy

By Timothy Abington and Kelly Gilblom: 4 September 2019, 07:00 BST: Updated on 4 September 2019, 11:11 BST

*European majors close many more deals than their U.S. rivals

*Digital and efficiency technologies become popular targets

Major oil companies are poised to do a record number of clean-energy deals this year, with Royal Dutch Shell Plc leading a group of European companies that are well ahead of their U.S. rivals.

The data compiled by BloombergNEF underscore the quickening pace of the transition to low-carbon energy among the world’s largest fossil fuel producers, and the scale of the trans-Atlantic divide. European majors closed seven times as many deals with renewable-electricity and storage companies as their U.S. counterparts since 2010. read more

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Shell Profit Misses as Slowing Economy Hurts Gas, Chemicals

Bloomberg: Shell Profit Misses as Slowing Economy Hurts Gas, Chemicals

By Kelly Gilblom: 1 August 2019, 07:15 BST Updated on 1 August 2019, 08:14 BST

Cash flow rises, but integrated gas adjusted profit falls 25%

Shell CEO says macroeconomic conditions were challenging

Royal Dutch Shell Plc got caught into the same earnings trap as many of its peers, reporting second-quarter earnings that fell well short of expectations as the slowing global economy hit everything from natural gas to chemicals.

Profit in Shell’s integrated gas division was down by 25%, but earnings were lower across all of its businesses, including upstream oil and gas production, and refining and chemicals.

“We’ve seen some very severe macroeconomic headwinds — probably most pronounced in our downstream business where we saw some weaker refining margins — but especially a much weaker trading environment for petrochemicals,” Chief Executive Officer Ben Van Beurden said in a Bloomberg TV interview on Thursday. “In our upstream, we’ve seen headwinds particularly in North American gas.” read more

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Bloomberg: Oil Giants Note — Nigeria Now Has a Chance to Open Its Fields

Bloomberg: Oil Giants Note — Nigeria Now Has a Chance to Open Its Fields

By Dulue Mbachu and Tope Alake: 16 July 2019, 05:00 BST

*Buhari’s parliamentary control could speed passage of reforms

*Oil majors want favorable fiscal terms to explore deep waters

Investors’ 11-year wait for the Nigerian government to open up Africa’s biggest crude industry may be over.

An overhaul of oil policy that’s been in the works for more than a decade is among a raft of laws President Muhammadu Buhari could steer through parliament in his second term to help drive investment in the oil-dependent economy. The delays cost an estimated $15 billion a year in lost funding for the industry over the past decade, according to the Petroleum Ministry. read more

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Shell Carbon-Capture Plant Hits 4 Million Ton Milestone Early

By Kevin Orland: 23 May 2019, 12:00 BST

*Canadian project has seen better-than-expected reliability

*Adviser sees more activity in carbon-utilization projects

A Royal Dutch Shell Plc-operated carbon capture and storage project in Canada has hit a milestone of sequestering 4 million tons of carbon dioxide about six months ahead of schedule and at a lower cost than estimated, helped by better-than-expected reliability.

The Quest facility, which sequesters emissions from the Scotford Upgrader near Edmonton, Alberta, started up in November 2015 and has since run ahead of its target of capturing 1 million tons of carbon a year, said Anne Halladay, a geophysicist who has been an adviser on the project since it was in construction in 2014. That performance has been driven by less unplanned maintenance than projected and more efficient performance, including less chemical usage, she said. read more

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Chevron Bows Out Of Anadarko Fight, Oxy Jet Trip Suggests Shell Might Step Up

By Irina Slav – May 09, 2019, 9:30 AM CDT

A report that Occidental Petroleum’s corporate jet traveled to the Hague, one of Shell’s two home towns, has sparked a fresh flare-up of speculation regarding its proposed acquisition of Anadarko, CNBC reports, citing an unnamed source.

The news comes after reports on Thursday suggest that Chevron is bowing out of the fight to acquire Anadarko, despite some analysts thinking that it would up its offer to compete with Occidental’s. Chevron will be entitled to a $1 billion breakup fee per the terms of the original agreement. read more

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Shell Seen Increasing M&A to Become World’s Top Power Company

By Kelly Gilblom: 29 March 2019, 11:13 GMT

*Company likely to expand acquisitions of electricity producers

*Shell must manage 61 gigawatts of clean power in 2030s

Royal Dutch Shell Plc could ramp up acquisitions of electricity producers to achieve its target of becoming the world’s biggest power company by the 2030s, according to analysis by Sanford C Bernstein Ltd.

To become the biggest low-carbon electricity provider, the company must produce 214 terawatt-hours of clean power every year by 2035, the analysis shows. That’s 11 percent more than Egypt, a country of nearly 100 million people, generated last year, according to data from BP Plc. read more

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Nigerian Oil Region Crisis Threatens Buhari’s Economic Plans

By Dulue Mbachu and Elisha Bala-Gbogbo: 13 March 2019, 03:00 GMT: Updated on 13 March 2019, 10:51 GMT

Niger River delta wracked by pipeline sabotage, crude theft

Buhari must act now or face ‘doomsday’ later, activist says

After the military government in 1995 executed nine Ogoni activists, including the writer Ken Saro-Wiwa, regional unrest spiraled into full-blown armed militancy in the past 15 years.

Fresh from his comfortable re-election, Nigerian President Muhammadu Buhari faces a huge hurdle to keep his vow to end the economy’s addiction to oil: win a lasting peace in the crude-rich Niger River delta.

The 76-year-old former military ruler will have to score a breakthrough that’s eluded previous governments in an area where armed groups and thieves pose a constant threat to the flow of crude. To carry out his plans to develop a backbone of stable power, roads and rail lines for agricultural expansion and industrialization in Africa’s most-populous nation, Buhari needs all the money he can get from oil, the source of two-thirds of government revenue. read more

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Shell Says It Can Be Top Power Producer and Make Money

By Kevin Crowley and Alix Steel: 11 March 2019, 20:09 GMT: Updated on 11 March 2019, 21:38 GMT

Oil major aims to be top power producer by early 2030s

Shell seeks 8-12% returns in historically low margin business

Royal Dutch Shell Plc plans to become the world’s biggest power company despite electricity’s historically narrow margins.

The world’s second-largest oil explorer by market value is spending up to $2 billion a year on its new energies division, mainly to grow in a power sector it envisions delivering 8 percent to 12 percent annual returns, according to Maarten Wetselaar, director of Shell’s integrated gas new energies unit. read more

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Shell on Prowl for Permian Deals as Majors Make Shale Play

By Kevin Crowley: 11 March 2019, 16:16 GMT: Updated on 11 March 2019, 22:56 GMT

European major ‘actively looking’ for targets, Sawan says

Upstream director-in-waiting declines to comment on Endeavor

Royal Dutch Shell Plc is on the hunt for deals to bulk up its position in the Permian Basin, where it lags rivals Exxon Mobil Corp. and Chevron Corp.

“We are definitely actively looking at opportunities,” Wael Sawan, Shell’s deepwater boss, said in an interview on the sidelines of IHS Markit’s CERAWeek conference on Monday. “If none ever come up then that’s a disappointing outcome.” Sawan is set to lead the European supermajor’s entire upstream division in July. read more

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Shell striving to become world’s top power company

Royal Dutch Shell plans to become the world’s biggest power company despite electricity’s historically narrow margins.

Written by

The world’s second-largest oil explorer by market value is spending up to $2 billion a year on its new energies division, mainly to grow in a power sector it envisions delivering 8-12% annual returns, according to Maarten Wetselaar, director of Shell’s integrated gas new energies unit.

“We believe we can be the largest electricity power company in the world in the early 2030s,” Wetselaar said.

“We are not interested in the power business because we like what we saw in the last 20 years.

“We are interested because we think we like what we see in the next 20 years.” read more

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Shell Still Isn’t Earning Enough Money

The oil giant is finally making enough cash to pay its dividends and cut debt. But it’s yet to show that it can boost returns while shifting to renewables.

Royal Dutch Shell Plc appears at first glance to have arrived at its destination. The Anglo-Dutch oil major made enough cash last year to pay its dividends and cut debt, seemingly confounding skeptics who feared the payout would need to be cut. But this isn’t yet a sustainable performance. Shell is still traveling.

The company’s dividend yield hit about 9 percent in 2015 as falling oil prices and the acquisition of BG Group, funded partly by debt, sowed doubts over whether the payout was affordable. Shell has since cut costs and capital expenditure and brought new production on stream. Add an oil price recovery and the group generated $53 billion of operating cash flow last year. That left it able to fund $14 billion of capital spending and other investments, net of disposals, and a $20 billion bill for interest payments and dividends.

Shell has used the surplus cash to cut debt and buy back its own shares. Net borrowings of $51 billion at the end of the fourth quarter are down from nearly $80 billion in the aftermath of the BG takeover and stood at 20 percent of total capital, Shell’s target.

Job done? Not so fast. This is still only a snapshot, rather than sustained proof. The debt reduction was aided by a huge boost from working capital movements in the last three months of 2018. The volatility in Shell’s working capital as inventories jump around is one reason why investors can’t be sure just yet that the company’s leverage will stay at or below the threshold.

The average price for Brent crude in the fourth quarter was about $69 per barrel. It is around $62 currently. While Shell could have afforded its cash dividends for 2018 had the oil price averaged out at that lower level over the whole year, it’s hard to be confident about crude’s buoyancy right now. read more

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Truce Reached for Now on Canadian Blockade of Shell Pipeline

A truce was reached in a dispute over a natural gas pipeline in western Canada, easing tensions for now as government leaders remain wary of intervening on the side of either the company or indigenous protesters.

Hereditary leaders of the Wet’suwet’en First Nation in British Columbia reached a tentative deal with police late Wednesday to effectively allow work to resume on part of Royal Dutch Shell Plc’s $31 billion gas export project.

Coastal GasLink workers will be able to access a bridge that had been barricaded, so long as a nearby protest camp isn’t dismantled, the Canadian Press reported, citing comments from one of the chiefs. Prime Minister Justin Trudeau also said Wednesday there had been a resolution. “This is how this is supposed to work,” he told a town hall event in the Pacific coast province. read more

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