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Shell plans show steep curve ahead for carbon offset market

Shell plans show steep curve ahead for carbon offset market

By Reuters: FEBRUARY 12, 2021

LONDON (Reuters) – Royal Dutch Shell has set forth plans for nature-based carbon offsets, derived from forestry and soil stewardship projects, which outstrip the entire global market in its current form, as do its carbon capture and storage (CCS) capacity aims.

Graphic: Shell’s carbon offset ambition

Graphic: Big Oil’s 2019 greenhouse gas emissions Big Oil’s 2019 greenhouse gas emissions read more

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Shell pays $191K fine for 2015 refinery incident

Shell pays $191K fine for 2015 refinery incident

11 Feb 2021

MOUNT VERNON, Wash. (AP) — Shell Oil Products U.S. has paid a $191,000 fine for the release of pollutants from its Shell Puget Sound Refinery north of Seattle in Skagit County.

The fine comes via a legal settlement with the U.S. Environmental Protection Agency to resolve federal Clean Air Act violations, The Skagit Valley Herald reported.

During refinery maintenance on Feb. 20, 2015, several operating procedures were violated, resulting in the release of about 700 pounds of pollutants. Hydrogen sulfide, dimethyl sulfide, mercaptans, pyrophoric iron and benzene were released over a period of more than three hours. 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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EPA fines Shell Oil $191,000 over release of toxic vapors from Anacortes refinery

EPA fines Shell Oil $191,000 over release of toxic vapors from Anacortes refinery

by KOMO News Staff:

SEATTLE – The company that operates the Anacortes oil refinery will pay a $191,000 fine for violations of the Clean Air Act stemming from a 2015 release of toxic vapors that sickened dozens of local residents of the area.

The fine, part of a settlement with the Environmental Protection Agency, is in addition to previous fines of over $420,000 levied by the Northwest Clean Air Agency and the Washington Safety and Health Agency against Shell Oil Products U.S. over the incident. 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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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

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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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Oil major Shell reports sharp drop in full-year profit, raises dividend

Oil major Shell reports sharp drop in full-year profit, raises dividend

Sam Meredith@SMEREDITH19: PUBLISHED THU, FEB 4 20212:31 AM EST UPDATED THU, FEB 4 20213:18 AM EST KEY POINTS
  • Shell reported adjusted earnings of $4.85 billion for the full-year 2020. That compared with a profit of $16.5 billion for the full-year 2019.
  • The company said it would raise its first-quarter dividend to $0.1735 per share, reflecting an increase of 4% from the previous quarter.
  • The results come as energy giants seek to reassure investors about their future profitability, following a dreadful year for the global oil and gas industry by virtually every measure.

LONDON — Oil giant Royal Dutch Shell on Thursday reported a sharp drop in full-year profit as the coronavirus pandemic took a heavy toll on the global oil and gas industry.

Shell reported adjusted earnings of $4.85 billion for the full-year 2020. That compared with a profit of $16.5 billion for the full-year 2019, reflecting a drop of 71%. Analysts polled by Refinitiv had expected full-year 2020 net profit to come in $5.15 billion. read more

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Court orders Shell to pay Nigeria farmers for oil pollution

Court orders Shell to pay Nigeria farmers for oil pollution

The appellate court in the Netherlands ruled Friday that Shell’s claims of sabotage along the Nigerian pipeline are not supported by evidence.  By Clyde Hughes: WORLD NEWS: JAN. 29, 2021 / 8:03 AM Jan. 29 (UPI) — A Dutch court ruled on Friday that oil company Royal Dutch Shell must compensate farmers in Nigeria for oil spills that occurred years ago.
The Court of Appeals ruled that Shell’s Nigerian branch must pay for spills in the Niger River Delta between 2004 and 2007, which spurred a civil case from four farmers that lasted for years.

The farmers sought compensation and cleanup over pollution that resulted from leaky oil pipelines.

The appellate court said Friday that Shell is liable for damages and also must install new equipment to prevent future problems.

“Oil supply in the leaky pipe could have been shut down earlier if a leak detection system had been present,” the Court of Appeals wrote.

The amount Shell must pay to the farmers will be determined at a later hearing. read more

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Dutch appeals court rules Shell Nigeria unit responsible for oil leaks

Dutch appeals court rules Shell Nigeria unit responsible for oil leaks

Reuters Staff: JANUARY 2021/ 10:32 

AMSTERDAM, Jan 29 (Reuters) – A Dutch appeals court on Friday said that the Nigerian subsidiary of Royal Dutch Shell was responsible for oil pipeline leaks in the Niger Delta and ordered it to pay unspecified damages farmers.

The decision went a step further than a 2013 ruling by a lower court, saying that Shell’s Nigerian subsidiary was responsible for multiple cases of oil pollution.

Reporting by Anthony Deutsch; editing by Jason Neely read more

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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

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Shell acquires 51% stake in Irish floater

Shell New Energies is to acquire a 51% stake in Simply Blue Energy’s Kinsale floating wind venture.

Kinsale was set up to develop the Emerald project, a floating wind farm in the Celtic Sea, off the south coast of Ireland.

The new JV will be operated by Simply Blue Energy supported by Shell floating wind experts, with the project office based in the Cork City Docklands rejuvenation area.

The partnership combines Simply Blue’s track-record in developing floating wind projects and local knowledge of the Celtic Sea environment with Shell’s offshore experience, floating wind expertise and ability to develop large complex projects. read more

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Work starts on world’s first carbon capture storage plant

Work starts on world’s first carbon capture storage plant

“What we are doing is essentially establishing the business of managing other people’s emissions in a safe way and storing it.”

27 JAN 2021

Northern Lights, a partnership between Equinor, Norway’s majority state-owned energy company, Royal Dutch Shell, and the French oil major Total, is responsible for transportation and storage.

Work has begun in Norway to build the world’s first business that aims to capture industry’s carbon emissions and then store them beneath the North Sea. read more

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Shell buys UK’s largest electric vehicle charging network

Royal Dutch Shell has agreed to buy Ubitricity, owner of the largest public charging network for electric vehicles in the UK, as the oil major expands its presence along the power supply chain. 

Shell said on Monday it would buy 100 per cent of the company for an undisclosed amount. Ubitricity, founded in Germany, is a leading European provider of on-street charging for electric vehicles.

FULL FT ARTICLE

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Shell pulls out of joint venture to build UK sustainable jet fuels plant

Shell’s departure was by mutual consent, and the project would continue “according to its existing development plan”, the three parties behind the project said. Immingham could begin supplying its first aviation fuel from non-recyclable household waste within five years.

But Shell’s decision to exit the UK’s burgeoning green fuels industry is likely to compound scepticism over Johnson’s promise that Britain would be in the “vanguard of green innovation” by pioneering zero-emission transatlantic flight. read more

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Barrett hears climate case against her father’s ex-employer Shell

Barrett hears climate case against her father’s ex-employer Shell

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Investors see splits among energy company climate efforts

Investors see splits among energy company climate efforts

(Reuters) – Investors are judging how well energy companies have reoriented their businesses to cut emissions as they weigh activists’ calls for divestment, climate finance specialists said on Thursday.

Growing differences between oil majors have clarified when companies are positioned to achieve “net-zero” emissions, becoming more focused on renewable power and offsetting remaining greenhouse gas emissions with measures like carbon sequestration or conservation efforts, specialists said at a Reuters Next panel held online. read more

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Shell-Exxon aims at $2.5 bln in Dutch subsidies for carbon storage

Shell-Exxon aims at $2.5 bln in Dutch subsidies for carbon storage

Thu, January 14, 2021, 6:17 PM

AMSTERDAM, Jan 14 (Reuters) – A consortium that includes oil majors Royal Dutch Shell and ExxonMobil has requested a total of 2.1 billion euros ($2.55 billion) in subsidies for a project to store CO2 gasses in empty Dutch gas fields in the North Sea, the Dutch Economy ministry said on Thursday.

The subsidies were requested together with industrial gas suppliers Air Liquide and Air Products for a project which aims to capture carbon dioxide emitted by factories and refineries in the Rotterdam port area in order to significantly reduce emissions in Europe’s largest sea port. read more

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Aberdeen job cuts loom as Shell retrenches in North Sea

Aberdeen job cuts loom as Shell retrenches in North Sea

By Mark Williamson : Group Business Correspondent

ROYAL Dutch Shell has announced plans to cut around 330 jobs in its UK North Sea oil and gas business which is run from Aberdeen.

The cuts will reduce total employee numbers in the Anglo-Dutch giant’s North Sea business to around 1,000.

It is understood the bulk of the cuts will affect office-based roles in Aberdeen.

The cuts are being made under a programme initiated by Shell amid the oil price plunge that was triggered by the coronavirus crisis. read more

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Fishermen lose out as oil giant Shell delays survey on gasfields off Whitby and Scarborough

Fishermen lose out as oil giant Shell delays survey on gasfields off Whitby and Scarborough

Anglo-Dutch oil giant Shell has postponed a seismic survey on two gasfields off the North Yorkshire coast, disappointing fishermen who were in line for tens of thousands of pounds of compensation.

By Alexandra Wood: Saturday, 9th January 2021, 6:00 am

The energy firm had been looking to conduct the 3D survey on the Resolution – first discovered in 1966 – and Endeavour gasfields in the first quarter of this year, but said it needed more time to “conclude agreements with commercial and other stakeholders in the area”. read more

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Shell postpones North Sea seismic job due to fishing, environmental concerns

Shell postpones North Sea seismic job due to fishing, environmental concerns

Shell has postponed a 3D seismic survey in the UK North Sea after weighing up the impacts on fishing businesses and the environment. By Mark Lammey: 06/01/2021, 7:45 am Partner Egdon Resources said the survey of the Resolution and Endeavour gas discoveries would take place in February 2022, rather than in the first quarter of this year.

Operator Shell made the decision following “extensive stakeholder engagement” and the revision of the environmental impact assessment.

The oil giant concluded that the commercial impact on local fishing businesses, along with potential impacts on marine mammalian movements, the breeding season for sea birds and tourism, meant it would be better to do the work in February.

The survey had originally been scheduled for March or April 2021. read more

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SHELL INVESTS IN QUEBEC’S FIRST WASTE TO LOW-CARBON FUELS PLANT

SHELL INVESTS IN QUEBEC’S FIRST WASTE TO LOW-CARBON FUELS PLANT

Jan. 05, 2021

Shell Canada Limited, an affiliate of Royal Dutch Shell plc (“Shell”), today announced the signing of commercial agreements to invest in Varennes Carbon Recycling, the first waste to low-carbon fuels plant in Québec, Canada.

Calgary, AB – Shell will have a 40% interest in the plant using technology developed by Enerkem, a leading Canadian clean tech company. Enerkem announced the project in December 2020, subject to finalization of commercial agreements. read more

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Shell Nigeria oil site seized over unpaid damages

Shell Nigeria oil site seized over unpaid damages

Dec. 24, 2020 10:57 AM ET Royal Dutch Shell plc (RDS.A)By: Carl SurranSA News Editor

  • An oil site operated by Royal Dutch Shell’s (RDS.ARDS.B) Nigerian unit has been seized by a state government in a dispute over an oil spill that occurred decades ago.
  • The government of Rivers state in the Niger Delta sealed off the Kidney Island base located in the Port Harcourt oil hub, saying the facility and Shell’s 30% stake in nearby Oil Mining Lease 11 were “lawfully purchased through public auction ordered by the court.”
  • Shell says the state government’s statement is “premature and prejudicial,” as the transfer of the oil license requires the approval of Nigeria’s federal minister of petroleum resources, which has not been granted.
  • Shell has been involved in a long-running legal battle with a local community in Rivers state which has successfully sued the company for millions of dollars in damages for allegedly polluting its land during a civil war in the late 1960s.
  • Nigeria’s federal government also has been involved in a dispute with Shell over damages related to alleged corruption linked to the company’s 2011 purchase of the OPL 245 offshore oilfield.
  • read more

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    Shell warns of flaring at Dutch Pernis oil refinery due to ‘malfunctioning’ unit

    Shell warns of flaring at Dutch Pernis oil refinery due to ‘malfunctioning’ unit

    By Reuters Staff: DECEMBER 21, 2020

    LONDON (Reuters) – Royal Dutch Shell warned on Twitter on Monday of increased flaring at its 400,000 barrel per day Dutch Pernis oil refinery, Europe’s largest, due to a “malfunctioning” unit which it did not name.

    Reporting by Ahmad Ghaddar and Shadia Nasralla; editing by David Evans

    SOURCE

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    Shell climate lawsuit: Dutch activists push courts for steeper emissions cuts

    Shell climate lawsuit: Dutch activists push courts for steeper emissions cuts

    Companies that make money selling coal, oil and gas could be held more accountable if judges in the Hague order fossil fuel giant Shell to cut its emissions.

    Backed by 17,000 Dutch citizens, climate activists are wrestling fossil fuel giant Royal Dutch Shell in court over its responsibility to cut emissions to levels that comply with global treaties.

    On the last of four days of hearings in the District Court of the Hague, seven environmental groups led by Friends of the Earth Netherlands pressed the court to force the oil major to commit to the Paris Agreement target of keeping warming to 1.5C. This would mean cutting net carbon emissions by 45% from today’s levels in a decade, the campaigners say, at a time where Shell is still investing heavily in fossil fuels. read more

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    TIMELINE-Nord Stream 2: Russia to Germany gas pipeline’s difficult birth

    TIMELINE-Nord Stream 2: Russia to Germany gas pipeline’s difficult birth

    Maarten Wetselaar, Klaus Schaefer, Mario Mehren, Alexey Miller, Gerhard Schroeder, Isabelle Kocher, Gerard Mestrallet, Rainer Seele, and Matthias Warnig after signing of financing agreements for Nord Stream 2 gas pipeline project on April 24, 2017

    Reuters Staff: DECEMBER 11, 2020

    Dec 11 (Reuters) – Russia has resumed construction of the politically-charged Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus prompted by U.S. sanctions, the pipeline operator said on Friday. read more

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    New York Becomes The First State To Divest From Oil And Gas

    New York Becomes The First State To Divest From Oil And Gas

    09/12/2020 13:10 GMT | Updated 09/12/2020 14:54 GMT

    The Empire State’s pension fund is the largest to dump fossil fuel investments ― ever, in the entire world.

    New York state announced plans on Wednesday to eject oil and gas stocks from its $226 billion financial portfolio, becoming the first U.S. state and the biggest pension fund anywhere to divest from fossil fuels.

    By 2025, the New York State Common Retirement Fund, which disburses some $1 billion in benefits to retirees each year, will sell off its “riskiest” oil and gas stocks, following a review. The state aims to completely eliminate carbon polluters from its portfolio by 2040. read more

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    Communities in oil-rich Niger Delta pin hopes on Shell climate case

    Communities in oil-rich Niger Delta pin hopes on Shell climate case

    DAKAR, Dec 1 (Thomson Reuters Foundation) – As a legal case over energy giant Shell’s planet-heating emissions kicked off in the Netherlands, activists said the health and livelihoods of people in Nigeria’s oil-producing region would hinge on its outcome.

    Royal Dutch Shell faced its first court hearing on Tuesday in a lawsuit brought by environmental and human rights groups in The Hague, the company’s headquarters. read more

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    Multinationals Seem Too Big For Accountability. Switzerland May Change That

    Amnesty International has been challenging Shell for decades about the devastating impact that pollution and environmental damage, associated with the company’s operation, have had on the human rights of people in the Niger Delta, Nigeria. Shell has, however, tried to delegate its responsibility for the damage to its Nigerian subsidiary, SPDC, making it more difficult even for victims to seek justice. Today, there is a case pending in the UK which seeks to hold the company accountable.

    Multinationals Seem Too Big For Accountability. Switzerland May Change That read more

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    SSE, Equinor sign PPA for UK Dogger Bank offshore wind farm first phases

    SSE, Equinor sign PPA for UK Dogger Bank offshore wind farm first phases

    By Reuters Staff: NOVEMBER 24, 2020

    LONDON (Reuters) – SSE and Equinor have agreed 15-year power purchase agreements (PPAs) for the first two phases of the Dogger Bank offshore wind farm they are developing off the coast of Britain, the companies said on Tuesday.

    Separate PPA’s totalling 2.4 gigawatts of capacity for power from Dogger Bank A and B have been reached with Orsted, Shell Energy Europe Ltd, Danske Commodities and SSE’s energy supply business, SSE and Equinor said in a statement. read more

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    5 legal tactics environmentalists are using to fight climate change

    “Fossil fuel companies, like tobacco companies before them, have allowed governments to pay for the harms caused by their products“…

    5 legal tactics environmentalists are using to fight climate change

    Activists are increasingly using litigation as a tool to influence climate action worldwide. Here’s a look at some of the main tactics they’re wielding to force change on fossil fuel firms and weak government policies.

    More than 700 climate lawsuits have been filed around the world since 2015, according to the Climate Change Litigation Databases. That’s a huge increase, considering there have only been about 1,700 of these types of cases since the late 1980s, most of them in the US. read more

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    Shell Canada gives customers option to offset their carbon emissions for two cents per litre

    Shell Canada gives customers option to offset their carbon emissions for two cents per litre

      Posted November 12, 2020 10:03 am: Updated November 12, 2020 6:14 pm A customer fills her full-size sport-utility vehicle at a Shell station in Mississauga, Ont. in this September 28, 2004 photo. The Sobeys grocery store chain is expanding its gasoline retailing business with the purchase of 250 gas stations in Atlantic Canada and Quebec from Shell Canada. THE CANADIAN PRESS/J.P. Moczulski. THE CANADIAN PRESS/J.P. Moczulski

    Shell Canada is letting carbon-conscious customers get their two cents in for the environment while filling up at one of its 1,400 stations across Canada.

    The Canadian branch of Royal Dutch Shell is launching its Drive Carbon Neutral program  on Thursday to allow customers to help it buy offset credits to reduce net carbon dioxide emissions from the production, refining and burning of fossil fuels. read more

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    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

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    Shell: Regaining Dividend Respectability And Shifting Toward Green Hydrogen

    Shell: Regaining Dividend Respectability And Shifting Toward Green Hydrogen

    The Daily Drilling Report: 10 November 2020

    Summary
    • Shell is taking a healthy approach toward energy transition and balancing capital projects in terms of energy source.
    • It’s also forging a leadership position in two key fuels that have been identified as being crucial to meeting Paris Climate goals – natural gas and hydrogen.
    • Shell is back in our good grades with its recent dividend raise and strong earnings prospects going forward.
    • At its recent price in the mid-$20s it represents a nice risk reward profile.

    The question is, is the dividend safe? The answer here is yes, as it has just been raised. It seems Uncle Ben has heard the hue and cry of outraged shareholders, and is restoring some of what he took away just last quarter.

    Ben Van Beurden, CEO Shell:

    So we are announcing an increase of 4% in our dividends this quarter. But we’re also announcing a target milestone for our net debt of $65 billion for the near term. And once we have achieved this milestone, we target to further increase shareholder distribution. So we are not offering the promise of future growth, but also increasing shareholder distributions for the near term. read more

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    Environmental groups want Shell air permit denied

    Environmental groups want Shell air permit denied

    By   – Reporter, Pittsburgh Business Times, Nov 6, 2020, 1:44pm EST

    Environmental groups are urging the Pennsylvania Department of Environmental Protection to deny Shell Pennsylvania Chemical’s air quality permits on the basis of what they say will be too much pollution into the Pittsburgh region.

    Beaver County Marcellus Awareness Community’s letter is the latest volley in environmentalists’ battle against the Potter Township project, costing in excess of $6 billion, that has remade a portion of the Ohio River coastline and brought thousands of construction jobs into the region. They’ve asked for a 30-day extension for more information about the permits as well. read more

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    Twitter Roasts Shell for “Gaslighting” Consumers With Emissions Poll

    Twitter Roasts Shell for “Gaslighting” Consumers With Emissions Poll

    BY SOPHIE HIRSH

    Sometimes, you just need to take a good, hard look at yourself in the mirror. We’re talking to you, Shell.

    This week, oil and gas corporation, Shell, took a break from polluting the planet to ask people on Twitter how they were willing to change their individual habits to help reduce emissions. As one might expect, Shell’s Twitter poll regarding emission reduction did not go over well. read more

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    BP And Shell’s Renewables Plans – Go Woke Go Broke

    BP And Shell’s Renewables Plans – Go Woke Go Broke

    : Nov 2, 2020

    Summary

    • No, I’m not suggesting that BP and Shell are about to go broke as a result of their plans in to renewables – that’s rhetorical use of a current trope.
    • The move does though entirely change the way we should be viewing those stocks. They become as with other companies, things to evaluate on single year horizons.
    • They used to be known as “widows and orphans” stocks, regular dividend payers safe to be held for decades – this is what has changed.

    Going green is just fine

    The idea of the world going green is just fine. Climate change is a real problem, we’re causing it, we need to do something about it. I’m one of the few on that free market right who has been saying this for the past decade or so and don’t I get stick for it too.

    The idea of companies investing in doing that going green is just fine too. As someone on that free market right I would insist that this is the only way we will go green too. The capitalist way, people making a buck out of what people desire to be done. read more

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    Shell to axe refining plants and focus on dividends and debt reduction

    Shell to axe refining plants and focus on dividends and debt reduction

    Philip Whiterow: 07:31 Thu 29 Oct 2020

    Royal Dutch Shell PLC (LON:RDSB) has unveiled a huge restructuring of its refining and chemical operations as part of a strategic overhaul that places dividends at its centre.

    The Anglo-Dutch giant said its fourteen refining sites will be reduced to six integrated chemical parks, with a switch in focus to performance chemicals and recycled feedstocks.

    Shell’s marketing arm will also be strengthened with the development of the integrated power business and hydrogen and biofuels. read more

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    Shell hires Orsted’s Brostrom to lead global renewables unit

    Shell hires Orsted’s Brostrom to lead global renewables unit

    By Reuters Staff: October 23, 2020 read more

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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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    Oil Majors Stuck Between A Rock And A Hard Place

    Oil Majors Stuck Between A Rock And A Hard Place

    By Andreas De Vries – Oct 18, 2020, 6:00 PM CDT

    Extracts

    The past few years have been historic for as far as crude oil forecasts are concerned. Back in 2015 the view that crude oil demand could peak during the 2020s or 2030s was still met with disbelief (and some ridicule…). Economic growth had been pushing crude oil demand up ever year for decades already, so why would things become different, so the reasoning went. Today, however, essentially all major energy forecasters, including BPShellTotalDNV-GL, the IEA and even OPEC, have come round and acknowledge Peak Oil Demand as a realistic possibility. 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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    Shell adopts new commercialisation and generation structure in Brazil

    Shell adopts new commercialisation and generation structure in Brazil

    October 7 (Renewables Now) – Oil and gas major Royal Dutch Shell Plc (AMS:RDSA) has adopted a new structure in Commercialisation and Electric Generation in Brazil.

    Shell Brasil will follow a business strategy that focuses on the generation and storage of renewable energies and natural gas, as well as on the commercialisation and optimisation, and sales to end consumers of company-branded integrated energy solutions. The director of New Energies of Shell Brasil, Guilherme Perdigao Nascimento, will lead this business. read more

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    Shell backs hydrogen for shipping’s decarbonization

    Shell backs hydrogen for shipping’s decarbonization

    London — Energy group Shell has revealed plans to back hydrogen fuel cells on the road to shipping’s 2050 decarbonization goals, tagging LNG bunkers as the bridging fuel between that and conventional oil-based bunker fuels.

    “We believe liquid hydrogen to be advantaged over other potential zero-emissions fuels for shipping, therefore giving a higher likelihood of success,” it said in its latest report, ‘Decarbonising Shipping: Setting Shell’s Course.’ read more

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    Big Oil’s $110 billion asset sale target could prove big ask

    Big Oil’s $110 billion asset sale target could prove big ask

    By Ron Bousso: October 1, 2020

    LONDON (Reuters) – Leading energy companies are hoping to sell dozens of oil and gas fields and refineries worth more than $110 billion to curb both their ballooning debt and their carbon footprints.

    But with the outlook for oil and gas prices uncertain because of the coronavirus pandemic and a shift to cleaner energy, finding buyers and striking deals might prove tricky.

    “This is not a very good time to sell assets,” Total CEO Patrick Pouyanne said while presenting the French giant’s strategy to switch to renewables on Wednesday. read more

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    FROM LEADER TO LAGGARD

    FINANCIAL TIMES

    Shell slims down to shape up for the energy transition

    …the Anglo-Dutch group has been forced into previously unthinkable moves, change and scrutiny of its capital allocation plans mount, is scrambling to come up with an updated plan. In the meantime, it is cutting costs and streamlining.

    On Wednesday it offered a glimpse into Project Reshape, its organisational restructuring in which up to 9,000 jobs will be cut from its 83,000-strong workforce to save $2.5bn a year.

    All Shell is thinking about is how do we maintain our position as a market leader in every sense — from climate action to staying competitive in the oil and gas space,”one company insider said. “The fear is that we go from being a leader to a laggard. 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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    U.S. and European Oil Giants Go Different Ways on Climate Change

    U.S. and European Oil Giants Go Different Ways on Climate Change

    While BP and other European companies invest billions in renewable energy, Exxon and Chevron are committed to fossil fuels and betting on moonshots.

    By Sept. 21, 2020, 5:00 a.m. ET 

    HOUSTON — As oil prices plunge and concerns about climate change grow, BP, Royal Dutch Shell and other European energy companies are selling off oil fields, planning a sharp reduction in emissions and investing billions in renewable energy.

    The American oil giants Chevron and Exxon Mobil are going in a far different direction. They are doubling down on oil and natural gas and investing what amounts to pocket change in innovative climate-oriented efforts like small nuclear power plants and devices that suck carbon out of the air. read more

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