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Litigation

Shell demands compensation after Greenpeace action on oil platform

NL TIMES

Shell demands compensation after Greenpeace action on oil platform

SUNDAY, 12 FEBRUARY 2023: Reporting by ANP and NL Times

Greenpeace said it has received a claim for damages from Shell over the occupation of an oil rig by activists from the environmental organization. The oil and gas company is demanding 100,000 pounds (113,000 euros), in part because Greenpeace activists placed solar panels and a wind turbine on the floating platform. The platform is on its way to the port of the Norwegian city of Haugesund. read more

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Institutional investors back Shell board lawsuit over climate risk

REUTERS

Institutional investors back Shell board lawsuit over climate risk

By :

LONDON, Feb 9 (Reuters) – A group of European institutional investors is backing a novel London lawsuit against energy giant Shell’s (SHEL.L) board over alleged climate mismanagement in a case that could have far-reaching implications for how companies tackle emissions.

ClientEarth, an environmental law charity turned activist Shell investor, said it had filed a High Court claim on Wednesday, alleging Shell’s 11 directors have failed to manage the “material and foreseeable” risks posed to the company by climate change – and that they are breaking company law. read more

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Shell’s Board Sued by Institutional Investors Over Lack of Climate Ambition

Shell’s Board Sued by Institutional Investors Over Lack of Climate Ambition

Shell Plc’s board faces a new front in climate litigation as a group of frustrated shareholders sue the oil giant’s directors in the UK.

Bloomberg News: Katharine Gemmell and William Mathis Published Feb 08, 2023

(Bloomberg) — Shell Plc’s board faces a new front in climate litigation as a group of frustrated shareholders sue the oil giant’s directors in the UK.

Two years after a Dutch court ordered Shell to slash its emissions, the group of investors are filing the first lawsuit of its kind against 11 members of the board, accusing them of failing to manage the company’s climate risks. read more

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Shell threatens Greenpeace protestors with jail and fines: But legal tactics fail as Greenpeace sends second boat and more climbers

Shell threatens Greenpeace protestors with jail and fines: But legal tactics fail as Greenpeace sends second boat and more climbers

Greenpeace International: 6 February 2023

Action pics and video available here, with updates throughout the day. 

Amsterdam, Netherlands – Shell has attempted to silence Greenpeace International’s peaceful occupation of its oil and gas platform at sea, by hitting the campaign group with an injunction late on Friday, February 3, threatening up to two years’ jail time and fines.[1]

But today, Shell’s heavy-handed legal tactics failed, as Greenpeace International successfully went ahead with plans to escalate its protest by adding two more climbers to occupy the company’s oil and gas platform – using other boats unaffected by the court order.

Protestors are demanding that the company stops expanding oil and gas production around the world, takes responsibility for fuelling the climate crisis, and pays up for the climate destruction it is causing everywhere.

At around 9am (CET) in the Channel, the Greenpeace France-chartered Merida trimaran and two small boats approached the White Marlin heavy-lift vessel, which is carrying Shell’s 34,000 tonne oil and gas platform to the North Sea. read more

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Environmental groups to sue Shell

REUTERS

Environmental groups plan to sue Shell’s new Pennsylvania plant over emissions

8 Feb 2023

Two environmental groups announced on Feb. 2, 2023 that they plan to sue Shell Chemical Appalachia over air pollution, just about three months after the startup of operations of Shell’s 1.6-million tonnes per year facility with capacity of polyethylene production, and related ethane cracker in Pennsylvania.

The Environmental Integrity Project said in a press release that along with another environmental group named Clean Air Council it filed “a notice of intent to sue (…) for repeated violations of air pollution limits,” it said. read more

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Nigeria: Shell must clean up devastating oil spills in the Niger Delta

AMNESTY INTERNATIONAL

Nigeria: Shell must clean up devastating oil spills in the Niger Delta

Reacting to the news that two Nigerian communities, which have been devastated by oil spills, have filed claims against Shell at the High Court in London, Amnesty International’s Head of Business and Human Rights Mark Dummett, said:

“More than 13,500 residents from the Ogale and Bille communities in the Niger Delta have now filed claims against Shell asking that the company clean up oil spills which they say have wrecked their livelihoods, poisoned their wells, and polluted their land and water, which means they can no longer farm or fish.”

“Amnesty stands by these two communities in the Niger Delta, which have been engaged in litigation against Shell for seven years, asking that the company clean up the damage caused and compensate them for their lost livelihoods.

“Shell announced in 2021 that it plans to sell its onshore oilfields and assets in the Niger Delta after 60 years of highly profitable operations in the area. It is concerning that Shell has not explained how it plans to address the widespread and systemic pollution of Nigerian communities linked to its operations over many years before it sells up and leaves. read more

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Netherlands To Shut Down Europe’s Largest Gas Field

OILPRICE.COM

Netherlands To Shut Down Europe’s Largest Gas Field

The Dutch government plans to close the Groningen gas field this year despite Europe’s precarious supply position. Groningen is the largest gas field in Europe.

The field is dangerous, a government official from the Hague told the Financial Times, and the government has no plans to boost production from it.

“We won’t open up more because of the safety issues,” Hans Vijbrief told the FT. “It is politically totally unviable. But apart from that, I’m not going to do it because it means that you increase the chances of earthquakes, which I don’t want to be responsible for.” read more

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Climate activists across world raise funds for the court case against Shell

Climate activists across world raise funds for the court case against Shell

Friends of the Earth Netherlands: 20/01/2023 | 16:25 PM

In 2021, thousands of Dutch citizens took one of the largest carbon emitters in the world to court and won. Together with Friends of the Earth Netherlands (Milieudefensie) they won a historic court case against Royal Dutch Shell, the parent company of Shell Group, forcing the company to take climate action.

The judge ruled that Shell’s current climate policy would contribute to a level of climate change that would be so dangerous that it would impose a threat to human rights. read more

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Large-scale polluter Shell loses legal battle

Large-scale polluter Shell loses legal battle

The Guardian: Isabella Kaminski: Thu 29 Dec 2022 12.00 GMT

Between 2004 and 2007, the villages of Oruma, Goi and Ikot Ada Udo in Nigeria were polluted with oil from infrastructure built by Royal Dutch Shell. More than 15 years later, in late December, the company finally agreed to pay four farmers and their communities €15m in compensation and install a leak detection system after a court in the Netherlands ruled that Shell’s Nigerian subsidiary was liable and the parent company had a duty of care. read more

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Shell to pay $16m to Nigerian farmers over oil damage

BBC News

Shell to pay $16m to Nigerian farmers over oil damage

23 Dec 2022

Shell has agreed to pay $16m (£13m) to four Nigerian farmers and their communities to compensate for damage allegedly caused by pollution coming from leaks in its oil pipelines.

The sum was agreed in negotiations between the oil company and campaign group Friends of the Earth.

But it is being given on the basis of “no admission of liability”, a joint statement says.

Nigeria’s oil industry has been a major source of environmental damage. read more

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Shell to pay 15 mln euros in settlement over Nigerian oil spills

REUTERS

Shell to pay 15 mln euros in settlement over Nigerian oil spills

AMSTERDAM, Dec 23 (Reuters) – Shell (SHEL.L) will pay 15 million euros ($15.9 million) to communities in Nigeria that were affected by multiple oil pipeline leaks in the Niger Delta, the oil company on Friday said in a joint statement with the Dutch division of Friends of the Earth.

The compensation is the result of a Dutch court case brought by Friends of the Earth, in which Shell’s Nigerian subsidiary last year was found to be responsible for the oil spills and was ordered to pay for damages to farmers. read more

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Court rejects Nigeria’s compensation request against Eni, Shell

REUTERS

Court rejects Nigeria’s compensation request against Eni, Shell

By  and : November 11, 2022

MILAN, Nov 11 (Reuters) – An appeals court in Milan on Friday rejected Nigeria’s $1.092 billion compensation request against Italian energy group Eni SpA (ENI.MI) and Shell Plc (SHEL.L) in civil proceedings relating to a $1.3 billion oilfield deal.

The decision was read out in court.

In July prosecutors had dropped related criminal proceedings, clearing Eni and Shell, as well as managers including Eni Chief Executive Claudio Descalzi, in one of the oil industry’s biggest alleged corruption cases. read more

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Nigerian widows end their case in the Netherlands against Shell

REUTERS

Nigerian widows end their case in the Netherlands against Shell

AMSTERDAM (Reuters) – A group of four widows who had sought to hold Shell liable for damages in the Netherlands after their anti-oil activist husbands were executed by the Nigerian government in 1995 have cancelled further legal proceedings, their lawyer said on Monday.

“Obviously this is not without disappointment and frustration,” said lawyer Channa Samkalden in statement announcing that the widows have cancelled an appeal launched after the Hague District Court rejected their case earlier this year. read more

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Malabu Oil Scandal

Malabu Oil Scandal

October 18, 2022

The Organisation for Economic Co-Operation and Development (OECD) has strongly condemned Italy for recent judgments that now place Italy at odds with the OECD’s Anti-Bribery Convention.

An Italian court sitting in Milan had a few months ago acquitted energy companies, Eni and Royal Dutch Shell along with a series of past and present managers, including Eni Chief Executive, Claudio Descalzi in one of the oil industry’s biggest corruption scandals.

The trial judge held that the companies and defendants had been discharged as there was no case to answer.

Italian prosecutors had alleged corruption in the deal while campaigners said the Federal Government of Nigeria was short-changed in the deal. They said $1.1 billion of the purchase price was siphoned off to politicians and middlemen, including the then Minister of Petroleum, Dan Etete.

They also called for Eni and Shell to be fined and for a number of past and present managers from both companies, including Descalzi, to be jailed.

The defendants all denied any wrongdoing. They said the purchase price for OPL 245 was paid into a Nigerian government account and subsequent transfers were beyond their control. read more

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Exxon And Shell Look To Sell $1.5 Billion Natural Gas Venture

OILPRICE.COM

Exxon And Shell Look To Sell $1.5 Billion Natural Gas Venture

Supermajors ExxonMobil and Shell are looking to sell their 50/50 NAM natural gas producing joint venture in the Netherlands in a potential sale worth up to $1.5 billion, Reuters reported on Tuesday, citing industry sources and a document it had seen.

Shell and Esso set up the NAM joint venture in the 1950s and started producing gas from the giant Groningen field in the Netherlands in the 1960s. According to NAM’s website, the company supplies 75% of the natural gas required by Dutch households and businesses. A total of 93% of all Dutch households use natural gas and gas accounts for 45% of all the energy that is used in the Netherlands.

Shell and Exxon’s decision to sell one of the oldest gas-producing ventures would be part of both companies’ plans to divest aging assets they no longer consider core to their respective operations, Reuters notes.

According to Reuters’ sources, NAM’s assets up for sale – including three gas processing plants, pipeline networks, and offshore gas fields – could be valued at between $1 billion and $1.5 billion.

The two international majors expect that the current dire need for gas supply in Europe and the high natural gas prices could make those assets attractive to prospective buyers, the sources told Reuters. read more

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Shell’s Board Of Directors Sued For Not Doing Enough For Climate Change

Nasdaq.com

Shell’s Board Of Directors Sued For Not Doing Enough For Climate Change

RTTNews.com RTTNews: PUBLISHED MAR 15, 2022 3:54PM EDT

(RTTNews) – Shell’s Board of Directors sued for not doing enough for climate change The Board of British energy company Shell Plc (SHEL) is being sued for not taking enough steps to help the company make the transition away from fossil fuels.

Environmental law firm ClientEarth, which is also a Shell shareholder, said on Tuesday that it had notified the company of its lawsuit against Shell’s 13 executive and non-executive directors. The law firm has said that the Board’s failure to put in place a climate plan, which aligns with the Paris Agreement must be considered a breach of their duties as per British law. read more

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JP Morgan under fire for dubious $1.3bn Nigeria oil deal

CITYA.M.

JP Morgan under fire for dubious $1.3bn Nigeria oil deal

: 20 Feb 2022

A bitter legal dispute between the Nigerian state and banking giant JP Morgan is due to be heard in the UK’s High Court this week.

JP Morgan is being sued by the Nigerian government over allegations it negligently allowed corrupt officials to pilfer more than three quarters of a $1.3bn oil investment, the Telegraph first reported. Court filings reportedly state that JP Morgan should have been aware that the transactions it was asked to perform, transferring hundreds of millions of dollars to foreign bank accounts controlled by Nigerian oil minister Dan Etete, were potentially fraudulent. read more

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Campaign Behind Landmark Case Against Shell Targets More Energy Groups

OilPrice.com

Campaign Behind Landmark Case Against Shell Targets More Energy Groups

By Tsvetana Paraskova – Jan 13, 2022, 10:30 AM CST

Milieudefensie, the Dutch chapter of Friends of the Earth activists who won a landmark climate case against Shell in 2021, now urge more than two dozen other multinationals, including BP, Exxon, Vitol, and LyondellBasell, to implement plans to slash emissions by at least 45 percent by 2030 from 2019 levels.

In a letter sent on Thursday to 29 “big polluters”, including Shell, BP, Exxon, Vitol, LyondellBasell, RWE, Unilever, Uniper, Stellantis, Schiphol, ABN AMRO, and others, Milieudefensie asks the companies to respond how they plan to cut their Scope 1, 2, and 3 emissions by at least 45 percent by 2030. read more

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South Africa court rules against Shell, orders company halt seismic survey

FOX BUSINESS

South Africa court rules against Shell, orders company halt seismic survey

By  FOXBusiness: 29 Dec 2021

A South African court has blocked Shell’s seismic survey along the country’s eastern coastline, handing environmentalists a strong victory against the oil company.

The survey aimed to examine a 155-mile stretch of coastline in Eastern Cape Province. The seismic blasting process involves firing high-powered air guns every 10 seconds and measuring the echoes to detect cavities under the sea bed. read more

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Shell slapped with a fresh interdict over Wild Coast seismic survey

The Citizen

Shell slapped with a fresh interdict over Wild Coast seismic survey

The interdict application will be heard before Govindjee in the Makhanda High Court on 14 December. 

Petroleum giant Royal Dutch Shell is set to face another urgent interdict by a second batch of environmental organisations, in an attempt to halt the 3D seismic survey currently underway along the Wild Coast.

This time, the application is being brought forward by the Amadiba Crisis Committee (ACC) and Sustaining the Wild Coast.

The first application, which was dismissed in the Makhanda High Court last week, involved Natural Justice, Greenpeace Africa, Border Deep Sea Angling Association and Kei Mouth Ski Boat Club. read more

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Dutch government only has itself to blame for Shell move to UK

sky news

Dutch government only has itself to blame for Shell move to UK

Sky’s Ian King explains why shareholders are welcoming Shell’s decision to follow Unilever and RELX in moving away from Dutch controls, confirming the end of “royal” and “Dutch” in its name.

They’re only two little words – but they are symbolic of a huge shift at one of the world’s most important companies.

If its management gets its way, following a shareholder vote, Royal Dutch Shell will become plain Shell. read more

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Joe Lycett to tackle greenwashing for Channel 4

Joe Lycett to tackle greenwashing for Channel 4

By Harry Bennett: Monday, 11th October 2021

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

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

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

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Vermont sues 4 oil companies, alleges false info on climate

The Washington Post:

Vermont sues 4 oil companies, alleges false info on climate

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

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

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

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

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Malabu Oil Scam: Groups hail appeals against acquittal of Shell, Eni

Premium Times

Malabu Oil Scam: Groups hail appeals against acquittal of Shell, Eni

By Kunle Sanni: August 18, 2021

Three anti-corruption groups have applauded the appeals lodged by Milan prosecutors against the acquittal of Shell, Eni and 13 other defendants accused of corruption in the acquisition of Nigeria’s OPL 245 offshore oilfield.

Human and Environmental Development Agenda, (HEDA), Re: Common, and Corner House described the development as a welcome development in their joint statement on Tuesday.

The statement was signed by Lanre Suraj of HEDA, Nicholas Hildyard of The Corner House, and Antonio Tricarico of Re: Common. read more

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

12 August 2021

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

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

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

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

Agence-France Presse: Thu 12 Aug 2021 00.46 BST

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

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

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

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UK Litigation Against Royal Dutch Shell Plc

VOLTERRA FIETTA

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

BRIEF EXTRACTS FROM E-NEWSLETTER 10 AUGUST 2021

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

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Shell’s Niger Delta cleanup: Ogoniland’s uncertain future

DW.COM

Shell’s Niger Delta cleanup: Ogoniland’s uncertain future

A Dutch court in January ruled that Shell had polluted the Niger Delta and ordered the energy giant to pay compensation. But many are now questioning whether it is enough to put right the misery suffered by the people.

The conflict between the indigenous people of Ogoni in Nigeria’s Niger Delta is a perennial one.

This year’s court ruling by an appeals court in the Netherlands — in favour of Milieudefensie/Friends of the Earth Netherlands and four Nigerian farmers — was heralded by some of them as justice. read more

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Shell CEO Says Company Will Appeal Climate Ruling

Bloomberg

Shell CEO Says Company Will Appeal Climate Ruling

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

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

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

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Shell To Bow Out Of California Joint Venture With Exxon

OILPRICE.COM

Shell To Bow Out Of California Joint Venture With Exxon

Shell (-2.37%) is reportedly planning to quit its California-based joint venture with fellow oil supermajor ExxonMobil (-3.56%) as it looks to accelerate its transition away from fossil fuels.

Four sources told Reuters that the FTSE blue chip had informed Exxon that it intended to exit subsidiary Aera Energy, in which it holds a 52 percent stake. The firm did not respond to a request for comment. read more

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Renewable Energy Soars As Exxon, Shell Falter

FORBES

Renewable Energy Soars As Exxon, Shell Falter

Miriam TuerkInvesting

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

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

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The Unintended Consequences Of Punishing Big Oil

OILPRICE.com

The Unintended Consequences Of Punishing Big Oil

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

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

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

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Students protest at Science Museum over sponsorship by Shell

The Guardian

Students protest at Science Museum over sponsorship by Shell

PA Media: Sat 19 Jun 2021 23.45 BST

A group of activists who were threatened with arrest on Saturday evening after staging an “occupation” of the Science Museum in London have vowed to renew their fight on Sunday.

The London branch of the UK Student Climate Network (UKSCN) organised a demonstration at the museum in protest at its decision to accept sponsorship from fossil fuel giant Shell.

The museum in South Kensington has partnered with Shell to fund its Our Future Planet exhibition about carbon capture and storage and nature-based solutions to the climate crisis. read more

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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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Shell is said to evaluate sale of holdings in largest U.S. oil field valued at as much as $10B

Seeking Alpha

Shell is said to evaluate sale of holdings in largest U.S. oil field valued at as much as $10B

Jun. 13, 2021 7:19 PM ET Royal Dutch Shell plc (RDS.A)RDS.BBy: Josh FinemanSA News Editor

  • Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) is said to be considering selling its holdings in the largest U.S. oil field, holdings that may be worth as much as $10B.
  • The oil major is said to be evaluating selling all of part of its about 260,000 acres (105,200 hectares) in the Permian Basin, located mostly in Texas, according to media reports earlier.
  • CNBC reported that a sale is not imminent, though talks with a buyer or multiple acquirers are ongoing.
  • Last week, Shell to speed up emissions cuts following Dutch court ruling, CEO says.
  • Also see, Watch out for the next ‘oil crisis’: Sector Watch.
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    OPL 245: Groups Urge Nigeria’s Public Prosecutor To Appeal Judgement Favouring Shell, APC

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

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

    BY SAHARAREPORTERS, NEW YORK JUN 10, 2021

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

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    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.
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    Oil Giants Get 20-Year License Extension from Nigeria

    allAfrica.com

    Oil Giants Get 20-Year License Extension from Nigeria

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

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

    THE SUN

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

    27 MAY 2021

    By Henry Uche

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

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

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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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    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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    Shell in talks with Nigeria to divest onshore oil stakes

    REUTERS

    Shell in talks with Nigeria to divest onshore oil stakes

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

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

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

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

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

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    JPMorgan ordered to disclose US documents in Nigeria oil case

    JPMorgan ordered to disclose US documents in Nigeria oil case

    Ruling comes ahead of trial in which bank is accused of enabling $875m in misappropriated payments

    Nigeria has succeeded in an effort to force JPMorgan Chase to disclose more documents ahead of a trial in which the US bank stands accused of enabling the misappropriation of almost $900m in state funds. The UK High Court on Tuesday granted the African nation’s application to secure records from top US executives and compliance officers involved in signing off $875m in payments between 2011 and 2013 relating to the controversial OPL 245 oil licence deal. read more

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    Malabu Scandal: UK group declares support for Nigerian anti-corruption activist

    Malabu Scandal: UK group declares support for Nigerian anti-corruption activist

    By Premium Times: April 28, 2021: 10 min read A UK anti-corruption group, Global Witness, has declared support for a Nigerian activist, Olanrewaju Suraju, who was recently questioned by the police based on a petition by Nigeria’s former attorney-general, Mohammed Adoke.

    Mr Suraju’s civil society organisation, HEDA, and other international anti-graft CSOs including Global Witness have been at the forefront of the demand for justice over the Malabu OPL 245 scandal involving Mr Adoke and many others including oil giants, Shell and Eni.

    While the prosecution of the suspects is still ongoing in Nigeria, a court in Milan recently discharged the oil giants and their officials who were named in the scandal which involved the transfer of about $1 billion from the oil giants to private Nigerian accounts for the control of an oil block, OPL 245. Mr Adoke was involved in the negotiation as Nigeria’s attorney general during the Goodluck Jonathan administration but has denied any wrongdoing. read more

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