Oil

Shell demands compensation after Greenpeace action on oil platform

Feb 12th, 2023

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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

Feb 9th, 2023

by John Donovan.

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REUTERS

Institutional investors back Shell board lawsuit over climate risk

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

Feb 9th, 2023

by John Donovan.

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

Feb 7th, 2023

by John Donovan.

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AMNESTY INTERNATIONAL

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

February 2, 2023

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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After winning lawsuit against Shell: Milieudefensie announces new climate case

Jan 29th, 2023

by John Donovan.

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NL TIMES

After winning lawsuit against Shell: Milieudefensie announces new climate case

Sunday 29 Jan 2023

After the case against Shell in 2021, Dutch climate organization Milieudefensie will start a new climate case against a company that emits a lot of greenhouse gasses at the end of this year, without naming the company involved. This was announced by the director of Milieudefensie, Donald Pols, on Sunday morning in the NPO Radio 1 program Vroege Vogels. Which company it is, he could not yet say. read more

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

Jan 24th, 2023

by John Donovan.

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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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Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

Jan 20th, 2023

by John Donovan.

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theguardian.com/uk

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

The fossil fuel firm Shell has set aside more than $450m (£367m) to invest in carbon offsetting projects, and plans to spend the equivalent of half the current market for nature offsets every year, the Guardian can reveal.

But a joint investigation by the Guardian, Die Zeit and Source Material into Verra, the world’s leading carbon standard for the rapidly growing $2bn voluntary offsets market, has found, based on analysis of a significant percentage of the projects, that more than 90% of their rainforest offset credits – among the most commonly used by companies – are likely to be “phantom credits” and do not represent genuine carbon reductions. read more

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

Dec 23rd, 2022

by John Donovan.

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REUTERS

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

December 23, 20229:31 AM GM

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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Nigeria’s top court allows Shell to appeal order holding back assets sale

Dec 4th, 2022

by John Donovan.

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REUTERS

Nigeria’s top court allows Shell to appeal order holding back assets sale

12/02/2022 | 12:35pm EST

LAGOS, Dec 2 (Reuters) – Nigeria’s Supreme Court on Friday allowed Shell Plc’s local unit to appeal a ruling that directed the company to pay $1.8 billion compensation over an alleged spill, in a dispute that has held back the company’s sale of its onshore assets.

Shell said in June it would pause the disposal of local assets until the court ruled on an appeal brought by its subsidiary Shell Petroleum Development Company of Nigeria Ltd (SPDC) and partner NNPC Ltd against a lower court judgment. read more

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Shell to ‘evaluate’ 25 bln pound British investments after windfall tax

Nov 22nd, 2022

by John Donovan.

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REUTERS

Shell to ‘evaluate’ 25 bln pound British investments after windfall tax

By Ron Bousso: November 21, 20228:07 PM GMT

LONDON, Nov 21 (Reuters) – Shell (SHEL.L) said on Monday it will evaluate plans to spend up to 25 billion pounds in Britain over the next decade following the government’s decision to increase a windfall tax on oil and gas producers.

“We’re going to have to evaluate each project on a case by case basis,” said Shell’s UK country chair David Bunch told the Confederation of British Industry’s annual conference in Birmingham. “When you tax more you’re going to have less disposable income in your pocket, less to invest.” read more

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Court rejects Nigeria’s compensation request against Eni, Shell

Nov 12th, 2022

by John Donovan.

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REUTERS

Court rejects Nigeria’s compensation request against Eni, Shell

By Alfredo Faieta and Francesca Landini: 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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Shell’s outgoing CEO to get full-year salary as compensation for loss of office

Oct 29th, 2022

by John Donovan.

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Reuters

Shell’s outgoing CEO to get full-year salary as compensation for loss of office

(Reuters) – Shell’s outgoing Chief Executive Ben van Beurden will get one-year base salary of 1.42 million pounds ($1.64 million) as compensation after leaving the position at the end of the year, the oil giant said on Friday.

The payment will be done in six equal monthly instalments between July 1 and Dec. 31, 2023.

The company said the outstanding payment for loss of office will be halved if van Beurden gets a paid position, excluding non-executive directorships, during the payment period.

Shell also said the Dutchman will continue to receive his base salary until June 30, 2023.

The company last month picked Wael Sawan to replace van Beurden, who is stepping down after nearly a decade at the helm and 40 years at Shell. read more

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Shell boss reveals regrets and pride as he steps down after decade

Oct 28th, 2022

by John Donovan.

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thenationalnews.com

Shell boss reveals regrets and pride as he steps down after decade

Ben van Beurden’s regrets were linked to financial issues in the Arctic and safety at a Dutch oilfield

Soraya Ebrahimi: Oct 28, 2022

Shell’s chief executive Ben van Beurden has said he regretted not acting earlier on two problems linked to the environment, as he prepares to step down after nearly a decade in charge.

Mr van Beurden said he should have acted in 2015 on data coming out of the Groningen gasfield in the Netherlands. read more

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Shell in talks with Government as ministers consider new windfall tax

Oct 27th, 2022

by John Donovan.

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The Telegraph

Shell in talks with Government as ministers consider new windfall tax

Oil and gas giant did not pay any tax in Britain, despite an existing windfall scheme

By Rachel Millard: 27 October 2022 • 5:48pm

Shell is in talks with the Government as ministers consider a fresh windfall tax on oil and gas companies to help fill a £35bn black hole in the public finances.

Ben van Buerden, chief executive of the oil and gas giant, said he accepted the case for higher taxes after the industry was boosted by surging fossil fuel prices following Vladimir Putin’s invasion of Ukraine. read more

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Malabu Oil Scandal

Oct 19th, 2022

by John Donovan.

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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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Shell and BP’s plans to reduce carbon emissions will overshoot 1.5°C warming limit in the Paris Agreement by a ‘significant margin’

Aug 18th, 2022

by John Donovan.

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Daily Mail

Shell and BP’s plans to reduce carbon emissions will still overshoot the 1.5°C warming limit in the Paris Agreement by a ‘significant margin’, study warns

Fossil fuel firms’ projections don’t fit with Paris Agreement targets, study claims
Projections from the firms show ‘delayed reductions in fossil fuel consumption’
The Paris Agreement is a legally binding international treaty on climate change

By JONATHAN CHADWICK FOR MAILONLINE

PUBLISHED: 12:02 EDT, 16 August 2022 | UPDATED: 03:51 EDT, 18 August 2022

Fossil fuel companies’ plans to reduce carbon emissions will still overshoot the 1.5°C warming limit in the Paris Agreement by a ‘significant margin’, a new study warns.

Researchers have studied the ‘decarbonisation scenarios’ outlined by vast energy companies Shell, BP and Equinor. read more

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Shell to give staff 8% bonus after record profits

Aug 4th, 2022

by John Donovan.

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Shell to give staff 8% bonus after record profits

Shell said the award reflects the company’s current financial success but has no link to the rising cost of living challenges

WED, 03 AUG, 2022 – 15:58

ANNA WISE, PA BUSINESS REPORTER

Shell employees will get a one-off 8% bonus after the energy company reported record profits from massive energy price hikes.

Most staff at the oil giant – which employs around 82,000 people worldwide – will be eligible for the pay boost.

Just those at executive vice president level or higher will be excluded from the taxable payout.

Shell said the award reflects the company’s current financial success but has no link to the rising cost of living challenges.

A Shell spokesperson said: “In recognition of the contribution our people have made to Shell’s strong operational performance against a recent challenging backdrop, our executive committee has decided to make a Special Recognition Award of 8% of salary to all eligible staff across the world. read more

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Shell and British Gas owner post record profits as energy bills surge

Jul 28th, 2022

by John Donovan.

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The Telegraph

Shell and British Gas owner post record profits as energy bills surge

James Warrington: 28 JULY 2022 • 12:28PM

Shell and the owner of British Gas are handing billions of pounds back to shareholders as Russia’s war in Ukraine drives record-breaking profits.

Shell will repurchase a further $6bn (£4.9bn) of shares in the third quarter, having already bought back $8.5bn of stock in the first half of the year.

It came after the FTSE 100 company’s profit jumped to $11.5bn in the three months to the end of June – its second consecutive quarter of record profits – as it cashed in on high oil and gas prices. read more

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Greenpeace accused of siding with Putin and putting British security at risk

Jul 26th, 2022

by John Donovan.

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The Telegraph

Greenpeace accused of siding with Putin and putting British security at risk

By Matt Oliver 26 July 2022 • 6:00am

Greenpeace has been accused of making Britain more vulnerable to Russian blackmail by urging a judge to block drilling at a major North Sea gas field.

The eco campaign group claims Shell was wrongly granted a development licence for the Jackdaw field without proper environment checks last month, in defiance of the UK’s climate commitments.

It has brought a legal challenge against the Government and is vowing to frustrate other schemes brought forward in the North Sea as well. read more

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Happy as a clam: Shell raises value of oil and gas assets as refining soars

Jul 8th, 2022

by John Donovan.

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CITYA.M.

Happy as a clam: Shell raises value of oil and gas assets as refining soars

NICHOLAS EARL: THURSDAY 07 JULY 2022 3:28 PM

Shell has announced it will reverse up to $4.5bn in write-downs taken on the value of its oil and gas assets after raising its energy prices outlook following Russia’s invasion of Ukraine and subsequent disruption to fossil fuel trading across the world.

In an update ahead of its second quarter results on July 28, the energy giant revealed its refining margins almost tripled over the three-month period. read more

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Shell may have to abandon £3bn stake in Russian gas plant

Jul 1st, 2022

by John Donovan.

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The Guardian

Shell may have to abandon £3bn stake in Russian gas plant

Kremlin sets up new firm to own Sakhalin-2 plant, with stakeholders given a month to sign up or they could lose money

Alex Lawson Energy correspondent: Fri 1 Jul 2022: 12.50 BST

Shell could be forced to abandon a £3bn investment in a huge Russian gas plant after Vladimir Putin threatened to seize the rights to the project.

The Kremlin has said it plans to transfer the rights to the Sakhalin-2 plant in the far east of Russia to a new Russian company, citing economic security and national interests. read more

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Shell Permits Probed Over Loss of $200 Million in Nigeria

Jun 23rd, 2022

by John Donovan.

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Bloomberg UK

Shell Permits Probed Over Loss of $200 Million in Nigeria

Motion argues state lost revenue through 30-year licenses
Investigation targets joint venture operated by Shell

By William Clowes: 23 June 2022, 13:04 BST

Nigeria’s Senate will investigate Shell Plc’s historic license renewals in the West African state to determine whether they were extended unlawfully and cost the government up to $200 million.

Senate President Ahmad Lawan formed a committee on Wednesday to probe the oil major’s permits that expired in 1989 and 2019, according to a statement emailed by his spokesman. The decision followed a motion submitted by Senator George Sekibo who said the duration of the licenses should have been 20 years rather than 30 years under Nigerian law.
A spokesman for Shell didn’t immediately respond to a request for comment. read more

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Shell launches renewable power brand in Texas under a new branch of the company

Jun 7th, 2022

by John Donovan.

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Houston Chronicle

Shell launches renewable power brand in Texas under a new branch of the company

Amanda Drane, Staff writer: June 7, 2022 Updated: June 7, 2022 10:08 a.m.

Shell said Tuesday it is entering the residential power market in Texas, offering renewable power to Texans under a new branch of the company.

The launch of Shell Energy Solutions, a Texas power retailer, marks Shell’s entry into the U.S. power market. Its power plans will offer perks for electric vehicle drivers and homeowners with solar panels.

The move is the latest in a series of steps by the oil giant to reach net-zero emissions by 2050 and reposition itself more broadly as an energy provider as the energy transition accelerates. It follows an announcement last week that it had bought a Houston-based gas station and convenience store chain Landmark as the global oil giant positions itself to provide charging stations and motor fuels of the future. read more

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Shell gets green light for biggest North Sea oil project in decades

Jun 1st, 2022

by John Donovan.

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The Telegraph

Shell gets green light for biggest North Sea oil project in decades

Jackdaw field expected to start production in 2025

By Rachel Millard 1 June 2022 • 8:33pm

Shell is to develop one of the biggest North Sea gas projects in years after winning approval from regulators as the Government scrambles to bolster domestic energy supplies.

The FTSE 100 company’s Jackdaw project is set to produce about 6.5pc of Britain’s gas output with Shell aiming to start production by the second half of 2025.

Shell’s plans for the field were initially knocked back by environmental regulators last year but have been approved after they were revised.

The Government wants to cut the use of fossil fuels in the long term but is also under pressure to bolster domestic supplies after Russia’s invasion of Ukraine sent international oil and gas markets into turmoil.

Kwasi Kwarteng, the Business Secretary, tweeted on Wednesday: “Jackdaw gas field – originally licensed in 1970 – has today received final regulatory approval. read more

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Shell says windfall tax threatens North Sea oil and gas investment

May 28th, 2022

by John Donovan.

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The Guardian

Shell says windfall tax threatens North Sea oil and gas investment

Alex Lawson Energy correspondent: Fri 27 May 2022

Shell has said Rishi Sunak’s windfall tax is a threat to investment in North Sea oil and gas as Britain attempts to ramp up domestic energy supplies.

The chancellor yesterday announced an “energy profits levy” on oil and gas operators that he hopes will raise £5bn to help fund a support package for households.

Sunak also introduced measures to encourage investment into UK energy supplies, with tax breaks worth 91p for every £1 invested. read more

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Shell consultant quits and accuses firm of ‘extreme harms’

May 25th, 2022

by John Donovan.

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BBC News

Shell consultant quits and accuses firm of ‘extreme harms’

By Annabelle Liang: Business reporter: 25 May 2022

A safety consultant at oil and gas giant Shell has stopped working for the firm, as she accused its top executives of failing to protect the environment.

In a post on the professional networking platform LinkedIn, Caroline Dennett said the company is “causing extreme harms to our climate, environment, nature and to people”.

It has drawn over 10,000 likes and has been shared more than 1,200 times. read more

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Shell safety consultant quits over ‘double-talk on climate’

May 24th, 2022

by John Donovan.

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UPI

Shell safety consultant quits over ‘double-talk on climate’

By Sheri Walsh: 23 MAY 2022

May 23 (UPI) — A Shell safety consultant has resigned over what she calls the oil company’s “extreme harms” to the environment and “disregard for climate change risks.”

Caroline Dennett submitted her resignation to Shell executives and 1,400 employees Monday in an email and public video, accusing the U.S. company of “failing on a massive planetary scale” and blasting the oil giant’s plans to expand fossil fuel extraction. read more

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Shell plans to accelerate charging points

May 11th, 2022

by John Donovan.

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The Times

Shell plans to accelerate charging points

Emily Gosden: Energy Editor: Wednesday, May 11 2022

Shell plans to operate 100,000 public charging points for electric vehicles around Britain by 2030, as it fleshes out its plans to invest £25 billion in the country this decade.

The oil giant said this would include 11,000 rapid machines — which can charge most EV batteries to 80 per cent capacity within half an hour — and would mean that 90 per cent of drivers in the UK would be “within a ten-minute drive of a Shell rapid charger”. read more

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Shell profits soar to $9.1bn amid calls for windfall tax

May 5th, 2022

by John Donovan.

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The Guardian

Shell profits soar to $9.1bn amid calls for windfall tax

Record quarter piles pressure on government to issue one-off levy to curb rising energy bills

Alex Lawson: Thu 5 May 2022 02.55 EDT

Shell has reported a record quarterly profit of $9.1bn (£7.3bn) for the first three months of the year, piling more pressure on the government to implement a windfall tax to fund measures to tackle soaring household energy bills.

The first-quarter profit was boosted by a sharp rise in oil and gas prices, and compared with $6.3bn of profits in the final three months of 2021 and $3.2bn during the first quarter of last year. It was above analysts’ expectations of first-quarter adjusted earnings of $8.7bn.

Campaigners have called for a one-off levy on companies benefiting from soaring oil and gas prices to fund government initiatives to reduce the burden of rising bills.

Shell’s update comes after BP reported its highest quarterly profit in more than a decade on Tuesday. Its profits more than doubled to $6.2bn, and sparked a clamour for a windfall tax.

The government has resisted calls for such a levy. Boris Johnson has said it would discourage oil and gas producers from making investments into domestic energy.

But BP’s chief executive, Bernard Looney, has admitted none of the £18bn UK investments the company is planning would be dropped if a windfall tax were imposed. read more

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Shell Signs Production Sharing Contract for Atapu Field in Brazil

Apr 28th, 2022

by John Donovan.

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Shell Signs Production Sharing Contract for Atapu Field in Brazil

Apr 27, 2022

Today, Shell Brasil Petróleo Ltda.(Shell Brasil), a subsidiary of Shell plc, signed the Production Sharing Contract (PSC) to formally acquire a 25 percent stake of the Atapu field. Shell paid $ 1.1 billion to Petrobras for the increased stake in the field. With the contract now signed, Shell will start receiving its additional share of oil from the field.

Notes to editors

Shell Brasil Petroleo is a subsidiary of Shell plc.
In December 2021 in the Transfer of Rights auction, Shell along with partners Petrobras (52.5%, operator) and TotalEnergies (22.5%) acquired the rights to volumes from the Atapu field.
Atapu is a pre-salt oil field in the Santos Basin located in waters depths of about 2,000 meters. Production started in 2020 through the P-70 Floating, Production, Storage and Offloading unit (FPSO) which has the capacity to produce 150,000 barrels of oil equivalent (boe) per day.
For more details on Shell’s Powering Progress strategy, please visit www.shell.com/poweringprogress.

Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this press release, “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this press release refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest. read more

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Strong progress towards net zero for Shell

Apr 20th, 2022

by John Donovan.

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Strong progress towards net zero for Shell

Apr 20, 2022

Shell today published its Energy Transition Progress Report 2021 detailing the company’s progress over the past year. This report will be put to shareholders for an advisory vote at the Annual General Meeting on 24 May 2022.

“In a time of great uncertainty, it is vital that our long-term energy transition strategy remains on track,” said Ben van Beurden, Shell’s Chief Executive Officer. “This report shows the strong progress we have made towards our target to become a net-zero emissions energy business by 2050.” read more

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Extinction Rebellion mob cause traffic NIGHTMARE in London

Apr 17th, 2022

by John Donovan.

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MailOnline

Extinction Rebellion mob cause traffic NIGHTMARE in London

Earlier today the eco fanatics climbed onto a Shell oil tanker at a petrol station in Bayswater, London
Along with eco-mob Just Stop Oil, XR have brought 16 days of disruption to traffic, oil depots and commuters
Comes after activists blocked four of London’s busiest bridges on Good Friday – causing traffic chaos
Several oil firms secured injunctions to stop environmental protesters from targeting fuel processing sites

By WILLIAM COLE FOR MAILONLINE

PUBLISHED: 10:51, 16 April 2022 | UPDATED: 20:17, 16 April 2022

A mob of Extinction Rebellion protesters have swamped London’s Marble Arch, glueing themselves to a limousine and bringing traffic to a standstill.

The eco-fanatic rabble have once again brought chaos to the streets of the capital as they launched a series of ‘disruptions’ on a sixteenth days of protests alongside Just Stop Oil activists.

XR members convened in Hyde Park earlier today before one group – which included two former Olympians – climbed onto a Shell oil tanker at nearby Bayswater, leading to six arrests. read more

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Shell to develop blue hydrogen plant

Apr 13th, 2022

by John Donovan.

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The Times

Shell to develop blue hydrogen plant

Emily Gosden: Wednesday, April 13 2022

Shell has teamed up with Uniper to develop a proposed new facility to make “blue hydrogen” from natural gas on Humberside. The British oil giant said it had signed an agreement with the German utility group to work on its Humber Hub Blue project at Uniper’s Killingholme power station site.

The plant would separate natural gas into clean-burning hydrogen and waste carbon dioxide, which would be disposed of under the sea via the proposed East Coast Cluster carbon capture and storage facility. Hydrogen burns cleanly and is seen as a crucial part of Britain’s decarbonisation plans, especially for heavy industry and transport as well as potentially for power generation. read more

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Shell to write off up to $5bn on Russia exit

Apr 7th, 2022

by John Donovan.

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Yahoo!news

Shell to write off up to $5bn on Russia exit

Suban Abdulla: Thu, April 7, 2022, 8:41 AM

Energy stalwart Shell (SHEL.L) has warned that its exit from Russia could cost it as much as $5bn (£3.8bn) in the first three months of this year.

Shell will write off between $4bn and $5bn in the value of its assets, but the post-tax impairments will not impact the company’s earnings, it said in an update ahead of its earnings announcement in May.

Thursday’s announcement offers a first glimpse of the potential financial hit to western oil companies withdrawing from the country following its invasion of Ukraine. read more

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Shell first quarter 2022 update note

Apr 7th, 2022

by John Donovan.

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Shell first quarter 2022 update note

April 07, 2022 02:00 ET | Source: Shell plc

The following is an update to the first quarter 2022 outlook. Impacts presented may vary from the actual results and are subject to finalisation of the first quarter 2022 results, published on May 5, 2022. Unless otherwise indicated, all outlook statements exclude identified items.

The prevailing volatility in commodity prices has led to larger ranges in the financial guidance for the quarter. Adjusted Earnings and Adjusted EBITDA updates are provided at a segment level while the CFFO update is provided at a Shell Group level. read more

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Shell U-turn on Cambo oilfield would threaten green targets, say campaigners

Mar 22nd, 2022

by John Donovan.

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The Guardian

Shell U-turn on Cambo oilfield would threaten green targets, say campaigners

Company is reviewing decision to withdraw from North Sea project because of high oil price, report claims

Jasper Jolly: Tue 22 Mar 2022 09.41 GMT

Climate activists have reacted with concern to reports that Shell is reconsidering its decision to abandon development of the Cambo oilfield, warning that such a reversal would further threaten emissions reductions targets.

The fossil fuel producer could U-turn on a decision to pull out of the North Sea project because the “economic, political and regulatory environment had changed enormously since the decision was announced just three months ago”, according to sources cited by the BBC. read more

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

Mar 16th, 2022

by John Donovan.

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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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Shell boss bags 26% leap in annual pay package after COVID oil price recovery

Mar 10th, 2022

by John Donovan.

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sky news

Shell boss bags 26% leap in annual pay package after COVID oil price recovery

Ben van Beurden took home 57 times more than the median Shell worker in 2021 but will be facing pressure to temper awards for the current year as surging oil and gas prices bring misery to households and business alike.

James Sillars: Business reporter @SkyNewsBiz: Thursday 10 March 2022 10:40, UK

The chief executive of Shell’s pay package rose by 26% to €7.4bn (£6.2m) last year amid a recovery in oil prices from COVID crisis lows, according to the company’s annual report. read more

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Shell says it will stop buying Russian oil, natural gas

Mar 8th, 2022

by John Donovan.

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Shell says it will stop buying Russian oil, natural gas

By DANICA KIRKA: 8 MARCH 2022

LONDON (AP) — Energy giant Shell said Tuesday that it will stop buying Russian oil and natural gas and shut down its service stations, aviation fuels and other operations in the country amid international pressure for companies to sever ties over the invasion of Ukraine.

The company said in a statement that it would withdraw from all Russian hydrocarbons, including crude oil, petroleum products, natural gas and liquefied natural gas, “in a phased manner.” read more

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Shell finance chief Jessica Uhl quits over relocation to London

Mar 3rd, 2022

by John Donovan.

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The Times

Shell finance chief Jessica Uhl quits over relocation to London

Emily Gosden, Energy Editor: Wednesday March 02 2022, 12.01am, The Times

Shell’s chief financial officer is to stand down after deciding that her family could not follow the oil giant in its move to Britain.

Jessica Uhl, 54, has held the role since March 2017 and was a “key architect” of Shell’s decision to simplify its share structure and move its headquarters and the roles of chief executive and chief financial officer from the Hague to London. read more

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Energy giant Shell to end partnership with Russia’s Gazprom as Ukraine conflict intensifies

Mar 1st, 2022

by John Donovan.

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CNBC

Energy giant Shell to end partnership with Russia’s Gazprom as Ukraine conflict intensifies

Fred Imbert @FOIMBERT: PUBLISHED MON, FEB 28 20221:15 PM ESTUPDATED 3 HOURS AGO KEY POINTS

Shell said it’s selling a 27.5% stake in Sakhalin-II, an integrated oil and gas project located on the Sakhalin island in Russia, as well as a 50% interest in Salym Petroleum Development N.V.
“We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security,” Shell CEO Ben van Beurden said in a statement.
The company said that it had about $3 billion in “noncurrent assets” through its Gazprom ventures at the end of 2021.

Shell said Monday it is ending an “equity partnership” with Gazprom, a Russian state-owned energy company, as the Russia-Ukraine conflict continues.

Shell said it’s selling a 27.5% stake in Sakhalin-II, an integrated oil and gas project located on the Sakhalin island in Russia, as well as a 50% interest in Salym Petroleum Development N.V., “a joint venture with Gazprom Neft that is developing the Salym fields in the Khanty-Mansiysk Autonomous District of western Siberia.” The company also said it’s ending its involvement in the Nord Stream 2 pipeline project. read more

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

Feb 22nd, 2022

by John Donovan.

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CITYA.M.

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

LILY RUSSELL-JONES: 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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U.N. pact may restrict plastic production. Big Oil aims to stop it

Feb 20th, 2022

by John Donovan.

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REUTERS

U.N. pact may restrict plastic production. Big Oil aims to stop it

A global explosion of disposable plastic, which is made from oil and gas, is increasing carbon emissions, despoiling the world’s oceans, harming wildlife and contaminating the food chain. More than 50 countries, including all 27 members of the European Union, are calling for the pact to include measures targeting plastic production.

That’s a problem for big oil and chemical companies. The industry is projected to double plastic output worldwide within two decades. read more

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New calls for windfall tax as Shell unveils highest quarterly profit in eight years

Feb 4th, 2022

by John Donovan.

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The Guardian

New calls for windfall tax as Shell unveils highest quarterly profit in eight years

Jillian Ambrose and agency: Thu 3 Feb 2022 12.13 GMT

Shell has cashed in on rocketing oil and gas markets by quadrupling its profits to historic highs, fuelling fresh calls for a windfall tax on fossil fuel giants to help hard-pressed households cope with record energy bills.

The UK’s Labour party has called for the government to fund measures to help British households weather the cost of living crisis by imposing a windfall tax on North Sea oil and gas producers. read more

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Shell delays expansion work at Nigeria’s Bonga oil field by two years: sources

Feb 3rd, 2022

by John Donovan.

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S&P Global/Platts

Shell delays expansion work at Nigeria’s Bonga oil field by two years: sources

02 Feb 2022 | 17:47 UTC
Author Newsdesk-Nigeria
Editor Adithya Ram

Shell has delayed expansion work at its Nigerian offshore Bonga field by another two years, dealing a major blow to the West African country’s quest to grow its crude production after a series of technical and operational setbacks, sources close to the project said Feb. 2.

t was only in May 2021 that Shell, along with its partners, signed a deal with state oil company Nigerian National Petroleum Company Ltd (NNPC) in the deepwater oil block Oil Mining Lease 118, clearing the path to a major expansion of the country’s Bonga oil and gas field. read more

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Shell to hand £6bn to shareholders as oil and gas prices soar

Feb 3rd, 2022

by John Donovan.

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London Evening Standard

Shell to hand £6bn to shareholders as oil and gas prices soar

The business said profits have risen dramatically in the last few months.

By August Graham: 3 Feb 2022

It has been a bumper three months for energy giant Shell, which managed to increase its profits nearly fourteen-fold amid soaring oil and gas prices.

As prices surged, the company’s upstream unit was able to collect 8.88 dollars for every thousand cubic feet of gas it sold to customers over the last quarter of 2021.

Just six months earlier gas had been selling for 4.31 dollars, less than half of its most recent level. read more

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Shell Is Betting Big On Namibia’s Oil Boom

Feb 3rd, 2022

by John Donovan.

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OILPRICE.COM

Shell Is Betting Big On Namibia’s Oil Boom

By Tom Kool – Feb 02, 2022, 6:30 PM CST

While all recent oil exploration attention has been on Exxon’s (NYSE:XOM) massive string of discoveries in Guyana, another giant player and a junior explorer are shifting to focus toward what may be the next up-and-coming oil hotspot …

It’s Namibia–a country that’s never produced a barrel of oil.

We don’t hear much about new oil discoveries these days. Onshore discoveries are almost unheard of because nearly everything except the African final frontier has been explored. Offshore discoveries are few and far between. read more

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Shell Makes Significant Oil & Gas Discovery Offshore Namibia

Jan 25th, 2022

by John Donovan.

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OILPRICE.COM

Shell Makes Significant Oil & Gas Discovery Offshore Namibia

By Tsvetana Paraskova – Jan 25, 2022, 12:30 PM CST

Shell has made a significant oil and gas discovery offshore Namibia, one of the expected hotspots for exploration this year, Reuters reported on Tuesday, quoting three sources in the industry.

Shell, which started drilling the Graff-1 well in Namibia’s waters in December, has found resources estimated at 250-300 million barrels of oil and gas equivalent, one of the sources told Reuters. read more

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Shell Officially Drops ‘Royal Dutch’ From Name After Relocation

Jan 21st, 2022

by John Donovan.

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Bloomberg

Shell Officially Drops ‘Royal Dutch’ From Name After Relocation

By Laura Hurst: 21 January 2022, 17:28 GMT

Shell Plc has dropped “Royal Dutch” from its name, part of a major overhaul of its legal and tax structure announced in December.

The energy giant officially changed its name on Friday, according to a statement, following earlier approvals from its shareholders and board of directors.

Shell’s overhaul involves integrating its dual-share structure into a single line of shares and relocating its headquarters to London. The changes will only involve about a dozen executives – including Chief Executive Officer Ben van Beurden and Chief Financial Officer Jessica Uhl — moving to the U.K. capital. read more

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Campaign Behind Landmark Case Against Shell Targets More Energy Groups

Jan 15th, 2022

by John Donovan.

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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