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

CBS SF

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

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

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

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Exxon’s defeat in a boardroom battle is a turning point for social activism.

Exxon’s defeat in a boardroom battle is a turning point for social activism.

June 10, 2021, 4:59 a.m. ET

An activist investor successfully waged a battle to install three directors on the board of Exxon Mobil last week with the goal of pushing the energy giant to reduce its carbon footprint. The investor, a hedge fund called Engine No. 1, was virtually unknown before the fight.

The tiny firm wouldn’t have had a chance were it not for an unusual twist: the support of some of Exxon’s biggest institutional investors. BlackRock, Vanguard and State Street voted against Exxon’s leadership and gave Engine No. 1 powerful support. These huge investment companies rarely side with activists on such issues. read more

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

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

By Nick Toscano

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

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

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

euronews.green

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

By Johnny White

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

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

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

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

OilPrice.com

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

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

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

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

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

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

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OPEC, Russia seen gaining more power with Shell Dutch ruling

REUTERS

OPEC, Russia seen gaining more power with Shell Dutch ruling

Dmitry Zhdannikov: June 1, 2021

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

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

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Big Oil’s Very Bad Wednesday

Seeking Alpha

Big Oil’s Very Bad Wednesday

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

Summary

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

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    Court orders Shell to slash CO2 emissions in landmark climate ruling

    CNN

    Court orders Shell to slash CO2 emissions in landmark climate ruling

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

    Updated 2000 GMT (0400 HKT) May 26, 2021

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

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

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

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

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

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

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

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

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

    Mounting pressure

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

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

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

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

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

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

    almost a third read more

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

    The Guardian

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

    Daniel Boffey: Wed 26 May 2021 15.25 BST

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

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

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    Shell faces Dutch court ruling on global emissions

    EnergyVoice.com

    Shell faces Dutch court ruling on global emissions

    By Ed Reed: 24 May 2021

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

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

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

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

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

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

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

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

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

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    Shell Green Plans Under Scrutiny as Holders Seek More Action

    Shell Green Plans Under Scrutiny as Holders Seek More Action

    Laura Hurst

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

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

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

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

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

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

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    Shell, Singapore university to work on $3.4 mln decarbonisation study

    Shell, Singapore university to work on $3.4 mln decarbonisation study

    Reuters: May 14, 2021, 7.29 AM BST

    Royal Dutch Shell (RDSa.L) said on Friday it will be working with a university in Singapore in a research project worth S$4.6 million ($3.4 million) over three years to convert carbon dioxide to fuels and petrochemicals.

    Researchers from Shell and the National University of Singapore (NUS) will develop processes to produce ethanol and n-propanol from carbon dioxide, a byproduct from industrial processes, the two organizations said in separate statements on their websites. read more

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

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

    : Tuesday 11 May 2021

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

    The Pensions & Investment Research Consultants (PIRC), a major proxy advisory, said Royal Dutch Shell’s strategy to cut emissions “does not seem to have a clear plan for the competitive aspects of the energy transition.” read more

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    Cheniere and Shell deliver carbon-neutral U.S. LNG to Europe

    Cheniere and Shell deliver carbon-neutral U.S. LNG to Europe

    Sabrina Valle: 

    U.S. liquefied natural gas company Cheniere Energy Inc (LNG.A)said Tuesday it supplied a carbon neutral cargo to Royal Dutch Shell (RDSa.L) as part of a long-term agreement, joining a list of sellers neutralizing emissions as more buyers commit to environmental targets.

    “I think offering climate solutions to our customers is going to be a bigger and bigger portion of our business,” Cheniere Chief Executive Jack Fusco said during the company’s first quarter earnings call. read more

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

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

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

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

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

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

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

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

    By Reuters Staff: April 22, 2021

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

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

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

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

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

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

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    Officials give notice to Shell refinery on emissions release

    Officials give notice to Shell refinery on emissions release

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

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

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

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

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

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

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

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

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

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

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

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

    By : 2 MIN READ: APRIL 20, 2021

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

    Spain´s Iberdrola, France´s Voltalia, EDF, Italy´s Enel and Portugal´s EDP Renewables are among the main players developing solar projects in Brazil, as well as Atlas Energia, controlled by the British private equity firm Actis, ePowerBay said on Tuesday.

    Only projects registered with the electricity industry regulator ANEEL by March 2022 will benefit from the subsidies, which will be scrapped. The subsidies halve the price renewable projects pay for the usage of transmission networks.

    “Certainly the looming end of the subsidy has accelerated the seeking of approval for new projects by developers, primarily for the solar ones,” the consultancy said.

    Last September, before the government proposed the law cutting subsidies, investors had filed requests with ANEEL for the development of 8.7 gigawatts (GW) in new renewable projects. In March, after the law passed, requests for new projects jumped to 18 GW, lead by solar projects.

    The volume of projects seeking approval in just the month of March surpasses many times over the total capacity of solar parks currently operational in Brazil (3.3 GW).

    According to ePowerBay, Voltalia registered 4 GW in new solar projects with ANEEL, followed by Iberdrola (2.1 GW), EDP Renewables (1.75GW), Atlas (1.2GW), EDF (1GW), and Enel Green Power (910 megawatts).

    Oil majors are also betting on the Brazilian renewables market, the consultancy said, with Royal Dutch Shell registering solar projects totaling 1.5GW, while Total Eren, owned by France´s Total, has already obtained approval for 49 megawatts in solar projects.

    Reporting by Luciano Costa in Sao Paulo; Editing by Sonya Hepinstall

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

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

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

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

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

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

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

    Jessica Jaganathan: April 21, 2021

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

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

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

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

    : April 20, 2021

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

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

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

    Damian Carrington Environment editor: Mon 19 Apr 2021 06.01 BST

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

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

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    Shell calls on investors to vote for its new climate strategy

    Jillian Ambrose: Thu 15 Apr 2021 13.58 BST

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

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

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    The World Still Needs Hundreds Of Billions Of Barrels Of Oil

    The World Still Needs Hundreds Of Billions Of Barrels Of Oil

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

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

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    Shell Outlines Plans for Reducing Its Own Carbon Footprint

    Shell Outlines Plans for Reducing Its Own Carbon Footprint

    The energy giant has high hopes for sustainable aviation fuel

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

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

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    Oil Giants Win Climate Suit as Judges Push For Political Fix

    Oil Giants Win Climate Suit as Judges Push For Political Fix

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

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

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

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

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

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    ZeroAvia raises fresh cash for zero-emission hydrogen planes

    ZeroAvia raises fresh cash for zero-emission hydrogen planes

    Other existing investors, including Bill Gates’ Breakthrough Energy Ventures and energy giant Royal Dutch Shell also joined this funding round…

    By Nick Carey: 2 MIN READ: MARCH 31, 2021 / 11:19 AM

    LONDON (Reuters) – Hydrogen plane startup ZeroAvia said on Wednesday it had secured $24.3 million in a third funding round from investors, including British Airways, which it will use to develop a regional zero-emissions aircraft that can seat more than 50 people. read more

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    Shell To Tie Executive Bonus Pays With Energy Transition Goals

    Shell To Tie Executive Bonus Pays With Energy Transition Goals

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

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

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

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    North Sea oil and gas minnow wins vote of confidence from Shell

    North Sea oil and gas minnow wins vote of confidence from Shell

    By Mark Williamson 

    Group Business Correspondent

    NORTH Sea oil and gas minnow Deltic Energy has seen its shares rise around eight per cent after the company won a fresh vote of confidence from the mighty Royal Dutch Shell.

    Shell has decided to go ahead with a plan to drill a well with Deltic, on a prospect that has generated lots of excitement.

    The companies have confirmed to the North Sea regulator that they have made a firm commitment to drill a well on the Pensacola prospect, which is set for next year. read more

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    Shell says green power shift will lift need for Australia’s LNG

    Shell says green power shift will lift need for Australia’s LNG

    By Nick Toscano

    The Australian boss of global energy giant Shell sees demand for liquefied natural gas exports continuing to grow until at least the late 2030s even as COVID-19 hastens the shift away from planet-warming fossil fuels.

    Shell, which believes its oil output may have hit a peak in 2019 and is now likely to gradually decline, has revealed a brighter outlook for its liquefied natural gas (LNG) assets including those in Queensland and off Western Australia. read more

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    Goldman Sachs board nominates Royal Dutch Shell CFO for director role

    Goldman Sachs board nominates Royal Dutch Shell CFO for director role

    By Elizabeth Dilts Marshall: ·

    NEW YORK, March 15 (Reuters) – Goldman Sachs Group Inc’s board of directors on Monday nominated the chief financial officer of Royal Dutch Shell plc to become its newest member.

    If her appointment is approved by shareholders, Jessica Uhl will be the fifth woman director on Goldman’s board and its only member to come from the fossil fuel industry.

    The bank has backed away from fossil fuel development in recent years. read more

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    Shell sees 70%-complete Pennsylvania petchem project operational in 2022

    Shell sees 70%-complete Pennsylvania petchem project operational in 2022

    Mar. 12, 2021, 4:31 PM ETRoyal Dutch Shell plc (RDS.A) By Carl SurranSA News Editor 8 Comments

  • Royal Dutch Shell (RDS.ARDS.B) says its $6B petrochemical complex in northwest Pennsylvania is now more than 70% complete and projected to be operational sometime in 2022.
  • Shell previously projected the startup in this year’s H1 after suspending work in March 2020 due to pandemic concerns.
  • The project is one of the largest construction sites in North America and includes a 1.6M mt/year cracker and three polyethylene plants with a combined capacity of 1.6M mt/year.
  • Portions of the site’s water treatment facility are being commissioned and the site’s 250 MW power plant will soon follow, the company says.
  • Shell has “hit peak oil, but not peak opportunity,” as its impressive portfolio of assets should drive long-term shareholder returns in the tens of billions of dollars, The Value Portfolio writes in a bullish analysis posted on Seeking Alpha.
  • read more

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    EV subscription service Onto partners with Shell to expand access to charging

    EV subscription service Onto partners with Shell to expand access to charging

    Rebecca Bellan: Wed, March 10, 2021, 7:47 PM·3 min read

    British electric vehicle subscription service Onto has partnered with Shell to give its users access to charging stations in preparation for a wave of new EVs coming to market over the next several years.

    The partnership, which Shell announced Tuesday, will give Onto customers access to more than 3,400 Shell Recharge charge points in the UK, plus over 17 charging partners within Shell’s network.

    “Buying an electric car is a big, scary switch for most drivers,” Onto CEO Rob Jolly told TechCrunch in a recent interview. “Charging anxiety is an issue for them, so we’re trying to make EVs as accessible and affordable as possible, and the Shell partnership is a step up from that.” read more

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    Shell Using Battery Power Storage for EV Use in Europe

    Shell Using Battery Power Storage for EV Use in Europe

    Dutch energy giant partners with Alfen for trials in Netherlands of EV forecourt system using fast chargers and battery storage, with ability to sell power back to the grid at peak times.

    Shell and Alfen have launched a pilot to trial an on-site battery-powered system to support ultra-fast electric vehicle charging at Shell’s Zaltbommel forecourt in the Netherlands.

    A Shell first, the battery-powered system offers an alternative solution to costly and time-consuming public grid upgrades by storing electricity in an on-site battery. The increased supply of energy helps power ultra-fast chargers, allowing drivers to simultaneously use the site’s two 175kW charge points. read more

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    Big Oil Clashes Over Fossil Fuel Future

    Big Oil Clashes Over Fossil Fuel Future

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

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

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

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

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

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

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

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

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    Shell Energy to take part in renewable, gas-based power value chain for grid stability

    Shell Energy to take part in renewable, gas-based power value chain for grid stability

    By: March 3, 2021 8:48 AM Shell Energy Asia plans to participate in the power value chain in India to resolve the issues of renewable intermittency by using the idle gas-based power assets. The LNG supplier is working with the government and regulators in various geographies to achieve a connection between the renewable plus gas-based power generation for maximum cost and environment benefits, even as it promises to provide round-the-clock (RTC) electricity to the government.

    Shell, one of the largest oil and gas explorer and supplier, sees natural gas as the most suitable alternative to bundle with renewables to meet the grid intermittency challenge during night or when sun is not visible. Bundling natural gas with renewables will allow unhindered power generation for anytime of the day or night.

    Ajay Shah, VP, Shell Energy Asia, told FE that Shell through its global pronouncements has expressed its aspirations to participate in the power or electricity value chain and form partnerships on the renewables and gas. read more

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    Shell plans bio power-to-liquids project at Rheinland refinery

    Shell plans bio power-to-liquids project at Rheinland refinery

    London — Shell is planning to build the first commercial bio-PTL (power-to-liquid) at its Rheinland refinery in Germany, which will involve expanding its electrolyzer project at the site to 100 MW.

    Construction of the PTL unit, which would produce 100,000 mt/year of synthetic kerosene and raw gasoline (naphtha) using green hydrogen generated in the electrolyzer as well as biomass (waste wood), could start in 2023, with a view to commercial operations beginning in 2025, Shell said in a statement Feb. 26. read more

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    Which Banks Are The Biggest Backers Of Oil And Gas?

    Which Banks Are The Biggest Backers Of Oil And Gas?

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

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

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    With oil past peak, Shell sharpens 2050 zero emissions goal

    By Ron Bousso and Shadia Nasralla

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

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

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

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

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

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

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

    By : FEBRUARY 17, 2021

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

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    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

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

     

    Jillian Ambrose: Thu 11 Feb 2021 09.40 GMT

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

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

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    How Biden should meet his promise to cut fossil fuel emissions

    How Biden should meet his promise to cut fossil fuel emissions

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

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

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

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

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

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

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

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    Oil giant Shell follows rivals into huge loss

    Oil giant Shell follows rivals into huge loss

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

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

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

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

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