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The Big Oil Side Hustle: Where ‘Renewable’ Money Is Really Going

The Big Oil Side Hustle: Where ‘Renewable’ Money Is Really Going

By Alex Kimani – Oct 20, 2020, 6:00 PM CDT

In 2016, Shell set an ambitious goal to invest $4bn to $6bn in clean energy projects by 2020, though the Guardian recently reported that it was unlikely to meet that target. So, why is Big Oil still dragging its feet…

Every time an oil and gas major announces a major foray into renewable energy, the skeptics come out like clockwork and lambast the sector for merely trying to burnish its green credentials. read more

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Gas company NAM to cut hundreds of jobs as prices drop and production is squeezed

Gas company NAM to cut hundreds of jobs as prices drop and production is squeezed

October 15, 2020

Dutch gas company NAM is cutting its workforce by hundreds of jobs as gas prices fall and production is cut back.

Over the next six months, 200 to 300 of the permanent workforce of 1,300 will be able to take advantage of a voluntary redundancy scheme and a further 300 contract workers will be let go, regional paper Dagblad van het Noorden said.

Director Johan Atema told the paper that the company had been hit by falling gas prices. ‘We are supplying almost as much gas as last year, but our income has halved,’ he said. ‘Then you are talking about a crisis situation.’ read more

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Shell says Pennsylvania ethane cracker about 70% complete

Shell says Pennsylvania ethane cracker about 70% complete

By Reuters Staff: October 9, 2020

Oct 9 (Reuters) – Royal Dutch Shell Plc said on Friday its multibillion-dollar petrochemical complex near Pittsburgh was about 70% complete and remains on track to enter service in the early 2020s.

After temporarily suspending construction activities on the ethane cracker in March to limit the spread of coronavirus, Shell said it has been re-introducing workers at a measured pace – bringing the total number of workers on site to about 6,500. read more

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TIMELINE-Twists and turns in Russia’s Nord Stream 2 gas pipeline to Germany

TIMELINE-Twists and turns in Russia’s Nord Stream 2 gas pipeline to Germany

By Reuters Staff: OCTOBER 7, 2020

Oct 7 (Reuters) – Poland has fined Russia’s Gazprom more than $7.6 billion for building the Nord Stream 2 gas pipeline without Warsaw’s approval, its watchdog said on Wednesday.

Russia’s bid to double its gas export capacity across the Baltic Sea has prompted opposition, including U.S. sanctions, stalling completion of the $11 billion pipeline.

In addition to Europe’s increased reliance on Russian gas, opponents are wary of Moscow’s motives as the pipeline will allow it to curb gas transit via Ukraine, cutting off a source of revenue for Kiev. read more

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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

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Shell files offshore drilling plans for Alaska’s North Slope

Shell files offshore drilling plans for Alaska’s North Slope

17 Sept 2020

ANCHORAGE, Alaska (AP) — Shell Offshore Inc. has submitted plans to plans to drill for oil in the waters along the National Petroleum Reserve-Alaska in the coming years.

The Dutch oil industry giant applied to form the West Harrison Bay Unit to explore in state waters off the North Slope region, The Alaska Journal of Commerce reported Wednesday.

Documents submitted to the state Division of Oil and Gas said Shell has attempted to find a partner to work on the West Harrison Bay leases for at least a year. read more

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Nigeria Government Lawyer Accuses Jonathan, Adoke And Diezani Of Receiving Bribes To Facilitate Malabu Deal

Nigeria Government Lawyer Accuses Jonathan, Adoke And Diezani Of Receiving Bribes To Facilitate Malabu Deal

He informed the court that Nigeria wanted to take action because of this fact, which it considers to be of very serious prejudice to the nation.

BY SAHARA REPORTERS, NEW YORK: SEP 10, 2020

The lawyer representing Nigeria at the ongoing trial of the Malabu OPL245 scandal, Lucio Lucia, has indicted ex-President Goodluck Jonathan, at the hearing of the case in Milan court on Wednesday. read more

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Shell begins restart of Prelude FLNG after seven-month suspension

Shell begins restart of Prelude FLNG after seven-month suspension

|About: Royal Dutch Shell plc (RDS.A)| By: , SA News Editor 

  • Royal Dutch Shell (RDS.A -0.1%) says it has begun restarting operations at its 3.6M mt/year Prelude floating liquefied natural gas facility offshore Western Australia, which has been offline since February due to technical problems.
  • The suspension of cargo loadings at Prelude followed an order from Australia’s upstream regulator to carry out additional work following three safety incidents at the plant between September and January.
  • The regulator recently accepted Shell’s proposal to develop the 2.2T cf Crux gas field in the Browse basin offshore Western Australia, which is expected to provide backfill gas for Prelude.
  • In April, Shell delayed a final investment decision on Crux and other projects until next year because of weaker global LNG demand and lower oil prices.
  • 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.

    Malabu Oil Deal: Canadian judge dismisses suit challenging Nigeria’s grounding of Etete’s jet

    Malabu Oil Deal: Canadian judge dismisses suit challenging Nigeria’s grounding of Etete’s jet

    A Canadian judge on Thursday dismissed an application seeking leave to appeal the judgement that confirmed the grounding of a luxury private jet purchased by a former Nigerian oil minister, Dan Etete, with some of the alleged proceeds of the controversial $1.3 billion Malabu OPL245 oil deal.

    The suit was filed before the court by Tibit Limited, an anonymously owned company incorporated in the British Virgin Islands (BVI), claiming ownership of the jet. read more

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    INSIGHT- In the run-up to U.S. election, drilling lobby promotes natural gas as ‘clean’

    INSIGHT- In the run-up to U.S. election, drilling lobby promotes natural gas as “clean”

    By Valerie Volcovici, Andrew R.C. Marshall and Matthew Green: AUGUST 18, 2020

    WASHINGTON/LONDON, Aug 18 (Reuters) – America’s biggest oil and gas lobby group is ramping up its advertising spending ahead of the November election to persuade voters that natural gas is a climate-friendly fuel, according to ad buying data.

    The campaign by the American Petroleum Institute (API), targeted at younger voters and some tight congressional races, is part of a global battle by the drilling industry to assuage growing fears over the role of natural gas in driving climate change. read more

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    Shell to change-up FIFO roster at Australian operations

    Shell to change-up FIFO roster at Australian operations

    Paul Hunt: Senior Journalist: Oil & Gas, Policy. 07 August 2020

    SHELL is urging its staff to move to a new fly-in, fly-out, roster, a move that has been described by unions as “unsafe.”

    Currently FIFO staff work three weeks on, four weeks off, then three weeks on and five weeks off but under the new proposed agreement, employees would simply do a four week on, four week off roster.

    In a power-point presentation leaked to Energy News this week, Shell Australia said a new roster was needed due to interstate travel restrictions, and the combined impact of a 14-day quarantine requirement for FIFO staff. read more

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

    How Nigeria’s AGF Malami Indicted Predecessor Adoke In OPL 245 Scam While Testifying In London

    How Nigeria’s AGF Malami Indicted Predecessor Adoke In OPL 245 Scam While Testifying In London

    Malami, while testifying, said Adoke accompanied P&ID in making Nigeria lose the case. He also accused Adoke to have received a bribe of more than $800,000.

    BY SAHARA REPORTERS, NEW YORK JUL 30, 2020

    Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami, has made egregious corruption claims against his predecessor, Mohammed Bello Adoke, while testifying for Nigeria in the ongoing P&ID case. read more

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    Shell avoids loss with strong trading, wipes $17 billion off assets

    Shell avoids loss with strong trading, wipes $17 billion off assets

    Ron BoussoShadia Nasralla: JULY 30, 2020

    LONDON (Reuters) – Royal Dutch Shell (RDSa.L) avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a pessimistic outlook for oil and gas prices.

    Shell had warned last month it was set to slash the value of its oil and gas assets by up to $22 billion as the coronavirus crisis hollowed out energy demand.

    “Shell has delivered resilient cash flow in a remarkably challenging environment,” CEO Ben van Beurden said in a statement on Thursday. read more

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    Shell invests $300,000 in the Arts Council of Greater Baton Rouge’s new arts center

    Shell invests $300,000 in the Arts Council of Greater Baton Rouge’s new arts center

    STAFF REPORT: JUL 27, 2020 – 4:03 PM

    Shell has invested $300,000 in the Arts Council of Greater Baton Rouge’s new Cary Saurage Community Arts Center at 233 St. Ferdinand St.

    These funds will support the Shell Gallery, an art exhibition and meeting space open to individuals, schools and organizations throughout the Capital Region and beyond.

    “Shell understands the vital role that arts and culture play in creating an appealing place to live and work,” said Renee Chatelain, president and CEO of the Arts Council of Greater Baton Rouge. “They are industry leaders in investing in the quality of life for the Louisiana community, and we are excited about the many positive ways that this arts/business partnership will impact the community.” read more

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    OPL 245: International transparency groups raise 25 questions

    International transparency groups raise 25 questions for AGF Malami on OPL 245 contracts

    Four civil society groups who have been monitoring the OPL 245 scandal have raised 25 questions for Nigeria’s justice minister, Abubakar Malami, on the handling of the assets recovered in relation to the oil block.

    The groups include Corner House, Global Witness and Re:Common – all European transparency organisations – and the Human and Environmental Development Agenda (HEDA), a Nigerian anti-corruption group. 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.

    Possible chemical spill in Talfourd Creek

    Possible chemical spill in Talfourd Creek

    Shell Canada is reporting a possible chemical spill at its facility in Corunna.

    A CVECO Code 10 was issued by Shell at around 9 p.m. following the spill of an unknown product into Talfourd Creek.

    Due to the creek’s connection to the St. Clair River, there is a potential that the chemical could reach the main waterway, Shell said.

    BlackburnNews.com will provide more information as it becomes available.

    SOURCE read more

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    OPL 245: Nigeria’s anti-corruption fight may suffer setback

    Magu: International groups write Buhari, say Nigeria’s anti-corruption fight may suffer setback

    Prominent international groups involved in anti-corruption efforts globally have written to President Muhammadu Buhari on what they consider the unfortunate treatment of Ibrahim Magu.

    PREMIUM TIMES reported the arrest of Mr Magu, acting chairman of Nigeria’s anti-graft agency, EFCC, on Monday.

    He has been detained since then as he continues to appear before a panel probing allegations of corruption and insubordination against him. The allegations were made by the Attorney-General of the Federation, Abubakar Malami. 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:EFCC arraigns Malabu oil, 6 others over alleged $1bn fraud

    OPL 245:EFCC arraigns Malabu oil, 6 others over alleged $1bn fraud

    1 July 2020

    By Ikechukwu Nnochiri ABUJA — The Economic and Financial Crimes Commission, EFCC, on Wednesday, arraigned Malabu Oil & Gas Limited, six other companies and an oil tycoon, Aliyu Abubakar before the Federal High Court on a 48-count fraud charge.

    The Defendants were docked over their involvement in alleged fraudulent transfer of controversial OPL 245, considered as one of the richest oil blocks in Africa.

    Other defendants in the charge marked FHC/ABJ/CR/268/2016, are A-Group Construction Company Limited, Rocky Top Resources Limited, Mega-Tech Engineering Limited, Novel Properties and Development Company Limited, and Carlin International Nigeria Limited. read more

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    OPL 245: Fresh Charges Against Malabu Oil and Gas Limited

    EFCC drops Adoke from key OPL 245 case, files fresh charges against Malabu

    The Economic and Financial Crimes Commission (EFCC) has arraigned Malabu Oil and Gas Limited on fresh charges of money laundering in the OPL 245 deal of 2011.

    July 02, 2020

    Malabu, alongside Aliyu Abubakar, a businessman, and six other companies were arraigned on a 48-count charge before Iyang Ekwo, judge of a federal high court in Abuja.

    The companies listed in the charge are: A-Group Construction Company Limited, Rocky Top Resources Limited, Mega Tech Engineering Limited, Novel Properties and Development Company Limited, and Carlin International Nigeria Limited. read more

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    Okpabi and others (Appellants) v Royal Dutch Shell Plc and another (Respondents)

    Okpabi and others (Appellants) v Royal Dutch Shell Plc and another (Respondents)

    Case ID: UKSC 2018/0068

    Issue(s)

    Whether and in what circumstances the UK-domiciled parent company of a multi-national group of companies may owe a common law duty of care to individuals who allegedly suffer serious harm as a result of alleged systemic health, safety and environmental failings of one of its overseas subsidiaries as the operator of a joint venture operation.

    Facts

    The Appellants (some 42,500 people) are citizens of Nigeria and inhabitants of the areas allegedly affected by oil leaks from pipelines and associated infrastructure, that SPDC operates on behalf of an unincorporated joint venture in which numerous participating interests are held, in and around the Niger Delta. The leaks are said to have impacted their lives, health and local environment. They contend that the Respondents are responsible. Royal Dutch Shell Plc (‘RDS’) is the parent company of the Shell group of companies, incorporated in the UK. The Shell Petroleum Company of Nigeria Limited (‘SPDC’, the other Respondent) is an exploration and production company incorporated in Nigeria and is a subsidiary of RDS. The claims against RDS and SPDC are based on the tort of negligence under the common law of Nigeria which, for present purposes, is to be regarded as the same as the law of England and Wales. The claim against RDS is brought on the basis that RDS owed the claimants a duty of care either because it exercised significant control over material aspects of SPDC’s operations and/or assumed responsibility for SPDC’s operations. RDS applied under CPR Part 11(1) for orders declaring that the court had no jurisdiction to try the claims against it, or should not exercise such jurisdiction as it had. At first instance Fraser J held that there was no arguable case that RDS owed the Appellants a duty of care. The Appellants appealed to the CA against the judgment and Order of Fraser J. The CA upheld the decision of Fraser J. The Supreme Court has since clarified the law in this area, including by reference to the CA’s decision in this case, in Vedanta Resources PLC and another (Appellants) v Lungowe and others (Respondents) [2019] UKSC 20. read more

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    Pandemic exposes cracks in oil majors’ bet on plastic

    A massive Pennsylvania plastics project, owned by Shell, that President Donald Trump touted during a visit last year faces risks of oversupply and a low price outlook, an energy industry report said on Thursday.

    Pandemic exposes cracks in oil majors’ bet on plastic

    Joe Brock: JUNE 4, 2020

    SINGAPORE (Reuters) – The energy industry’s bet that a petrochemicals boom would support decades of oil and gas sales growth is on shaky ground as an already saturated plastic market is hit by a coronavirus demand shock.

    While soaring demand for personal protective equipment and takeaway food containers has boosted sales of some plastics, it is likely to be only a temporary spike, say analysts. read more

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    Shell, XOM to seek arbitration against Netherlands: report

    Shell, XOM to seek arbitration against Netherlands: report

    May 29, 2020

    Shell and ExxonMobil will file an arbitration claim against the Netherlands government over compensation for the early closure of gas field, according to Global Arbitration Review (GAR).

    The companies operate the Groningen gas field through NAM — a 50-50 Dutch joint venture. Production from the onshore gas field causes earthquakes affecting local communities, which has prompted the government to shut it down early.

    NAM is working with the Dutch government and other stakeholders to fulfill its obligations to residents of the area, which include compensation for damage caused by the earthquakes. read more

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    OPL 245: How Italian Prosecutors Hid Vital Information from Judge

    OPL 245: How Italian Prosecutors Hid Vital Information from Judge

    By Davidson Iriekpen:

    Facts have emerged that the lead Italian prosecutor in the criminal case involving Shell and ENI over the OPL 245 affair, Dr. Fabio De Pasquale, concealed a significant material fact from the Milanese court concerning the former Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Mohammed Bello Adoke, THISDAY has learnt.

    In the transcripts of the hearing with Criminal Proceeding No. 54772/13 RGNR, the prosecution witness, Ferri Alessandro, had told the court that Adoke owned the property at No. 271, Cadastral Zone A06 Maitama, Abuja, for which he had collected a mortgage of N300 million from Unity Bank in 2011. read more

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    Malabu Oil Block: ex-minister Orubebe’s wife quizzed over N360m deals

    Malabu Oil Block: ex-minister Orubebe’s wife quizzed over N360m deals

    MAY 15, 2020

    From Yusuf Alli, Abuja

    Former Niger Delta Affairs Minister Godsday Orubebe’s wife Maureen, has been grilled by the Economic and Financial Crimes Commission (EFCC) over a N500 million deal linked to the $1.092 billion Malabu Oil Block scandal.

    Mrs. Orubebe is also being investigated for alleged money laundering.

    She was alleged to have bought three assets from the company of one of the suspects on trial over the Malabu Oil Block Settlement Agreement.

    The assets were alleged to be part of those which over $523 million (out of $1.06b) was used for. read more

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    Shell adding more workers to Beaver County construction site

    Shell adding more workers to Beaver County construction site

    By: Paul J. Gough – Reporter, Pittsburgh Business Times
    Updated: May 14, 2020 – 5:13 PM

    BEAVER COUNTY, Pa. — Shell Pennsylvania Chemicals is planning to reintroduce more workers to its Beaver County construction site, which had been temporarily shut down in March over Covid-19 safety concerns.

    Several weeks ago, Shell began to add more workers from the 300 or so that had remained there for security and other approved purposes even after the construction had been temporarily halted. It now has 800 workers there as it adds employees, but it’s a small portion of the 7,000 or so it had two months ago. read more

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    UK watchdog clears Shell’s ‘drive carbon neutral’ ad on petrol pumps

    By Matthew Green: MAY 6, 2020

    LONDON, May 6 (Reuters) – Britain’s advertising watchdog has ruled Royal Dutch Shell’s ad campaign on petrol pumps promising customers they can “drive carbon neutral” is acceptable, following complaints.

    The Anglo-Dutch oil major said in October it would become the first petrol retailer in Britain to offset the carbon dioxide emissions from customers’ fuel purchases at its service stations at no extra cost by backing forestry schemes.

    The Advertising Standards Authority (ASA) said in March it had launched an investigation into an accompanying advertising campaign after receiving complaints from people who thought it was misleading given the role of oil in climate change. read more

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    SEC drops inquiry into Shell-Eni OPL 245 deal, companies say

    |About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

  • Royal Dutch Shell (RDS.A +0.9%) and Eni (E -0.8%) say the U.S. Securities and Exchange Commission has dropped its inquiry into their 2011 acquisition of the OPL 245 oil block offshore Nigeria.
  • The two companies are still on trial in Italy over allegations they bought OPL 245 knowing most of the $1.3B price would go to agents and middlemen in bribes.
  • Separately, Eni says CEO Claudio Descalzi and all senior managers will defer the collection of half of their 2020 long-term incentive plans until 2021, part of the company’s measures to reduce investment and operating costs.
  • For Descalzi, the deferral is equivalent to €735K, 15% of his total remuneration or 46% of his fixed remuneration.
  • Also, an agreement between Eni, Spanish gas firm Naturgy Energy and the Egyptian government to resolve a series of disputes over a shuttered gas plant in northern Egypt reportedly has fallen through.
  • The deal had been due to end Naturgy’s business interests in Egypt and dissolve a joint venture between Naturgy and Eni, while Eni and some Egyptian firms would have increased their holdings in the Damietta plant.        SOURCE
  • read more

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    Shell provides a glimpse inside its lobbying

    Royal Dutch Shell paid the American Petroleum Institute, the industry’s most powerful lobbying group, at least $12.5 million in 2019, the oil giant revealed.

    Driving the news: The tally, which Shell tells Axios is consistent with recent years, shows up in a report Shell published yesterday on its trade group memberships.

    Why it matters: The report, posted the same day Shell announced new climate pledges, provides a look at how much a major oil company pays to be part of various associations. 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

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    Shell’s carbon emissions drop in 2019 to four-year low

    Ron Bousso: APRIL 8, 2020

    LONDON (Reuters) – Royal Dutch Shell’s greenhouse gas emissions declined in 2019 to their lowest in four years, according to data provided by the energy company.

    At the same time, burning of unused natural gas in Shell’s upstream oil and gas operations, a process known as flaring, rose last year by 13.5%, the data showed.

    The increase in flaring was due mostly to an “unanticipated spike” in flaring during the start-up of the giant offshore Prelude liquefied natural gas plant in Australia, it said. 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

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    Is Gazprom’s LNG Megaproject Doomed To Fail?

    Viktor Katona: Oilprice.com April 4, 2020

    The gas giant Gazprom is no longer in the spotlight after the US Treasury sanctioned Rosneft, the Russian national oil company, most probably triggering the collapse of the OPEC+ agreement and bringing about an unexpectedly low pricing environment for March 2020 within both the oil and gas segments. Having launched Power of Siberia to China, Gazprom is now intent on bringing Nord Stream-2 online before the end of the year, moving its own pipe-laying vessel from the Russian Far East to the Baltic region to deliver on all its major promises from the 2010s. Yet there is one project that has had significant problems starting up, combining in itself all the deficiencies of modern-day Russia. read more

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    MPs’ pension fund still investing in oil companies despite climate emergency

    Shares in Shell and BP still part of the scheme

    Jon Stone Policy Correspondent @joncstone: 24 March 2020

    The parliamentary pension fund for MPs is still investing in fossil fuels despite parliament declaring a climate emergency, new figures show.

    The fund is still heavily invested in Shell (£8m) and BP (£4.4m) despite over 350 current and former MPs backing a campaign to set a good example by diverting cash elsewhere.

    MPs have however welcomed news in the fund’s latest filings that it is increasingly shifting its cash towards renewable energy – with five per cent of investments going to the green sector for the first time. read more

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    Big Oil Is Literally Burning Cash In The Permian

    By Alex Kimani – Mar 15, 2020, 10:00 AM CDT

    Global oil giants are facing ever-increasing public pressure and higher levels of scrutiny over their responsibility to curb harmful greenhouse emissions. Yet, in the sprawling oilfields of Texas, New Mexico and North Dakota, an industry-old practice of burning off unwanted natural gas has refused to die.

    The burning off (flaring), as well as the intentional release (venting) of natural gas, is proving to be a black eye that Permian producers just can’t get rid of. read more

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    Nigeria: Court Garnishees First Bank Account With CBN Over Judgment Debt of N182.7 Billion

    The humongous amount represents the punitive measures slammed on Shell Petroleum Development Company (SPDC) Limited for devastating the community and its environs and ecosystem with oil spillage.

    By Akin Akinwale: 8 March 2020

    Justice Inyang Ekwo of the Federal High Court, Abuja, has made a garnishee order compelling the Central Bank of Nigeria (CBN) to pay the people of Ejama Community in Eleme Local Government Area of Rivers State a total sum of N182.7 billion. The amount is to be deducted from the account of First Bank of Nigeria Plc. in the custody of the CBN.

    Lawyers to Ejama community told THISDAY last night they have since served the CBN the garnishee order absolute.

    The humongous amount represents the punitive measures slammed on Shell Petroleum Development Company (SPDC) Limited for devastating the community and its environs and ecosystem with oil spillage. 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.

    Turkish energy watchdog fines Shell TL 2.7M over market manipulation

    BY DAILY SABAH: ISTANBUL BUSINESS: Mar 05, 2020

    Shell & Turcas Petroleum company is facing a TL 2.7 million fine by Turkey’s Energy Market Regulatory Authority (EPDK) over making limited fuel delivery before price rises, the authority announced Thursday.

    An investigation was launched into the company over its limited fuel supply to petrol stations and an initiative to manipulate prices initially in Sept. 17, 2019.

    The regulator stressed then that no distribution company, regardless of its name, will be allowed to manipulate and victimize customers over fuel prices set in free-market conditions, adding that it will not hesitate to take the necessary steps regarding such moves that disrupt market activities. read more

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    Canada’s Trudeau stresses the need for peaceful end to pipeline protests

    COMMODITIES FEBRUARY 17, 2020 / 11:14 PM

    TORONTO (Reuters) – Canadian Prime Minister Justin Trudeau on Monday called for a peaceful solution to end rail blockades by indigenous rights groups protesting the construction of a natural gas pipeline.

    Indigenous communities across Canada have blocked key rail lines for nearly two weeks to oppose construction of the Coastal GasLink pipeline in British Columbia, which has forced Canada’s biggest railroad, Canadian National Railway Co, to shut operations in eastern Canada.

    Trudeau, who called off a planned Barbados trip to resolve the escalating pipeline protests, told his top cabinet ministers that this “urgent situation needs to be approached in a way that builds trust and respect toward an immediate resolution with all parties.” read more

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    Explainer: Why are indigenous groups protesting a Canada gas pipeline?

    FEBRUARY 12, 2020

    WINNIPEG, Manitoba (Reuters) – Protests broke out in many parts of Canada over the past week, triggered by arrests of dozens of protesters on traditional indigenous land along a route for TC Energy Corp’s (TRP.TO) planned Coastal GasLink pipeline.

    The demonstrations have disrupted freight and passenger rail and Canadian Prime Minister Justin Trudeau on Wednesday urged protesters to find a quick solution.

    WHAT ARE THE PROTESTS ABOUT?

    The flashpoint was police arrests that started last week in northern British Columbia of protesters who oppose the pipeline’s construction on traditional land of the Wet’suwet’en indigenous people. read more

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    Shell boss highlights potential of North Sea and defends oil giant’s response to climate change

    ROYAL Dutch Shell boss Ben van Beurden has said he sees no reason for the oil giant to curb investment in the North Sea amid concern about climate change insisting it has a key role to play in tackling the problem.

    The Anglo-Dutch firm has come under attack from climate change campaigners who have disrupted operations off Scotland and blockaded the company’s North Sea headquarters in Aberdeen.

    However, Mr van Beurden said the transition to net zero carbon emissions could not be achieved without the expertise of oil and gas giants such as Shell.

    The company reckons it can support the development of clean energy systems while helping reduce emissions associated with the production and consumption of oil and gas that will be required to meet the needs of consumers and industry. read more

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    Shell Oil sued for fiduciary breaches

    ROBERT STEYER

    Participants in a Shell Oil Co. 401(k) plan sued the company and plan fiduciaries alleging multiple violations of their fiduciary duties for selecting investment options, monitoring the plan, setting fees and dealing with the plan’s record keeper.

    The participants also sued the record keeper, Fidelity Investments, plus its parent company, FMR LLC, and several other Fidelity units, claiming that Fidelity also violated guidelines outlined in the Employee Income Retirement Security Act. They accused Fidelity of exploiting its role as a record keeper to cross-sell products to participants that weren’t part of the Shell DC plan. read more

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    Malabu Oil deal: EFCC seeks arrest warrant to extradite ex-Minister Etete, others

    JANUARY 29, 2020

    Yusuf Alli, Managing Editor, Abuja

    THE Economic and Financial Crimes Commission (EFCC) has asked the High Court of the Federal Capital Territory for a warrant of arrest to enable it extradite a former Minister of Petroleum Resources, Dauzia Loya (Dan) Etete and two others.

    The others are Munamuna Seidougha and Amaran Joseph.

    The anti-graft agency has preferred charges against the three suspects before the High Court over the $1.09billion Malabu Oil Block (OPL 245) Settlement Agreement.

    The EFCC alleged that Rasky Gbinigie, Munamuna Seidougha (at large), Amaran Joseph sometime in 2013, in Abuja “dishonestly used as genuine the forged form CAC 7 and Board Resolution of Malabu Oil and Gas Limited and the letter of resignation of one Mohammed Sani, which they then knew to be forged documents, to open a bank account No. 2018288005 to receive $401,540,000.00 . read more

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    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

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    ‘Elevated flaring’ at Shell Norco plant — visible for miles — should end by midweek, company says

    The unusually large streak of fire visible recently in the sky over St. Charles Parish should be gone within the next few days, according to a spokesman for Shell Oil Co.

    For more than a week, the company’s Shell Norco complex has been in a state of “elevated flaring,” creating what at times has been a flare over its facility large enough that it can be seen for miles.

    Shell has said the flaring — which can also be accompanied by loud rumbling noises — was necessary after the complex experienced a series of power dips as a line of storms moved through the area on Jan. 11. read more

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    Russia set for long-term partnership with OPEC, says Gazprom Neft

    JANUARY 17, 2020

    MOSCOW (Reuters) – Gazprom Neft, Russia’s third largest oil producer, believes Moscow’s cooperation with OPEC on output will continue into the long term, Deputy Chief Executive Vadim Yakovlev told reporters on Friday.

    He praised the decision by OPEC and non-OPEC nations, a group known as OPEC+, to exclude Russian gas condensate from Moscow’s quotas under their latest agreement to curb output, a move that allows Gazprom Neft to expand its condensate production. read more

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    The Ecologist: ‘Shell is literally destroying our future’

    Lucinda Cameron | 16th January 2020

    Extinction Rebellion: The more successful fossil fuel companies like Shell are, the worse our future is going to be.

    Climate change activists have blocked the entrance to the headquarters of oil giant Shell in Aberdeen.

    Extinction Rebellion Scotland members began their protest at the premises on Altens Farm Road at 6.30am on Thursday and said they plan to stay there all day.

    The group say they have secured the entrances with lock-on equipment and the main entrance with XR Scotland’s big purple boat, named Amal Gous.

    Harm

    They said they plan to shut the building down to disrupt business and hold Shell to account for its role in the climate crisis. read more

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    Shell pays £0 corporation tax and plans huge hike in fossil output

    Shell pays £0 corporation tax and plans huge hike in fossil output

    Michael Johnson, Leeds Socialist Party:

    Faced with increasing scrutiny worldwide, oil giant Shell has revealed it paid no UK corporation tax in 2018. This is despite Shell also earning nearly £557 million in pre-tax profits in the UK over that year, with global pre-tax profits being $35.6 billion.

    This has come about due to Shell receiving huge tax refunds for decommissioning its North Sea oil platforms. To help balance the expenses of plugging and abandoning their (highly profitable) oil wells and removing their equipment, the government lets energy companies deduct costs from their taxable profits or claim back tax they had previously paid! read more

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    Work resumes on Canada’s Coastal GasLink pipeline over indigenous opposition

    Rod Nickel: JAN 7, 2020

    Jan 7 (Reuters) – Construction of the C$6.6-billion Coastal GasLink pipeline in western Canada resumed on Tuesday, after an indigenous group that opposes the project had ordered its workers off their territory.

    Coastal GasLink, to be operated by TC Energy Corp, will move gas from northeast British Columbia to the Pacific Coast, where the Royal Dutch Shell-led LNG Canada export facility is under construction.

    While less contentious than oil pipelines, Coastal GasLink faces opposition from some leaders of the Wet’suwet’en people, who say the project interferes with their hunting and trapping rights. read more

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    Extinction Rebellion protesters occupy Shell gas rig to stop it heading out to North Sea

    Activists urge UK government to ‘tell the truth’ about impact of fossil fuel industry

    Three members of Extinction Rebellion Scotland have climbed aboard the Valaris 122 rig in Dundee ( Extinction Rebellion Scotland )

    Conrad Duncan: 6 JAN 2020

    Climate activists have boarded a gas mining rig in Dundee in an attempt to stop it from heading out to the North Sea.

    Extinction Rebellion (XR) Scotland has said three of its members had climbed aboard the Valaris 122 rig and intended to there for as long as possible to prevent it from operating.

    The environmental group added that the trio had taken all necessary safety precautions and informed police of their “peaceful occupation”. read more

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    U.S. Sanctions On Russia’s Nord Stream 2 May Be Half-Hearted

    Russia is not forcing Shell to buy its gas. Shell is also a big investor in solar power and is a 50% owner in offshore wind farms Atlantic Shores in New Jersey and the Mayflower Consortium in Massachusetts.

    Kenneth Rapoza

    Last week’s announcement from the White House of a cease and desist order for the foreign firms building the Russia-to-Germany natural gas line may come about a year too late.

    Nord Stream 2 was always seen as a slap in the face to Ukraine, once a main route into Europe for Gazprom’s natural gas from Russia. But Russia and Ukraine have since gone their separate ways, pulled closer into Europe and the U.S.’s orbit by both Washington and Brussels, and now Russia has opted to look for alternatives. read more

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    US sanctions won’t stop completion of Russian natural gas pipeline to Europe – Kremlin

    European companies involved in the project include German energy firms Wintershall and Uniper, French multinational Engie, British-Dutch oil and gas giant Royal Dutch Shell, and Austrian energy company OMV.

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