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Posts Tagged ‘Ben van Beurden’

Shell’s greener future is a matter of survival

The Anglo-Dutch energy giant may “turbo-charge” its drive into renewable power and electric vehicles within five years

Jillian Ambrose, energy editor: 13 OCTOBER 2018 • 5:30PM

‘We’re not an oil company,” says Ben van Beurden from across the table. It is an affable, but pointed intervention typical of the man leading the FTSE 100’s highest-valued business.

“I don’t want to be facetious or pedantic,” he continues good-naturedly. “But we are a much broader and more sophisticated company than one that produces oil. We produce much more gas than we do oil, for a start.”

For the boss of Royal Dutch Shell, the distinction is one that rings at the heart of a personal mission to transform a company which for over a hundred years has fuelled the development of the modern world. read more

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CEO: Oil, Gas Is Shell’s Core Business For The Foreseeable Future

By Tsvetana Paraskova – Oct 09, 2018, 6:00 PM CDT

Royal Dutch Shell is not ‘going soft’ on oil and gas, despite recent investments in cleaner energy and energy solutions—Shell’s core business is and will continue to be oil and gas for the foreseeable future, the supermajor’s chief executive Ben van Beurden said on Tuesday.

Speaking at the Oil and Money conference in London, van Beurden pointed to recent headlines about Shell’s investments in hydrogen, moves into electric vehicles (EVs) charging infrastructure, or an acquisition into the UK power sector, adding this note of caution: “But even headlines that are true can be misleading. They might even make people think we have gone soft on the future of oil and gas. If they did think that, they would be wrong.” read more

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Shell boss says mass reforestation needed to limit temperature rises to 1.5C

Royal Dutch Shell CEO Ben van Beurden

: Tue 9 Oct 2018

The boss of Shell has said a huge tree-planting project the size of the Amazon rainforest would be needed to meet a tougher global warming target, as he argued more renewable energy alone would not be enough. Ben van Beurden said it would be a major challenge to limit temperature rises to 1.5C (equivalent to a rise of 2.7F), which a landmark report from the UN’s climate science panel has said will be necessary to avoid dangerous warming. FULL ARTICLE read more

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Shell CEO: Support a price on carbon — but not at any cost

Jennifer Luxton / The Seattle Times: 

Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden

 Special to The Times

Can an oil and gas company favor a price on carbon emissions while not endorsing every attempt to achieve one? Yes — but Initiative 1631 has some serious flaws.

It may seem counterintuitive for an oil and gas company to favor a scheme that would potentially make doing business more expensive. But Shell’s longstanding support for a government-led carbon price is based on our belief that a well-crafted policy would benefit all of us — society and industry. read more

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Oil CEOs Jostle for Global Natgas Crown Under Putin’s Gaze

Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden

By Elena Mazneva , Dina Khrennikova , and Jack Farchy

4 October 2018, 00:01 BST

  • Pouyanne responds to Shell investment in Canadian LNG project
  • Russia is now largest source of Total’s oil and gas output

Two oil company bosses shared a stage with one of the most powerful men in the market, and all they wanted to do was brag about natural gas.

Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden hailed his $31 billion liquefied natural gas venture in Canada, the biggest new project since 2013. Very nice, but not as competitive as low-cost Russian supplies, said Total SA boss Patrick Pouyanne. read more

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Is This The Biggest LNG Deal Of The Decade?

By Tim Daiss – Oct 03, 2018, 2:00 PM CDT

After years of indecision, governmental red tape, aboriginal resistance, environmental push-back and other problems, it appears that Canada may finally be on the path to having its first major liquefied natural gas (LNG) export project.

On Tuesday, the Royal Dutch Shell-led C$40 bn (US$32 bn) LNG Canada project announced that its project partners had reached a final investment decision (FID). It’s the first major LNG project to receive a FID in several years after numerous projects worldwide were either canceled or postponed during the plunge in global oil and gas prices from 2014 to 2017. The project was approved by all its stakeholders – Shell, Malaysian state-owned oil major Petronas, PetroChina, Korea Gas Corp (KOGAS) and Japan’s Mitsubishi Corp. read more

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Putin to meet Shell CEO in Moscow – Kremlin aide

 

By Reuters• last updated: 02/10/2018

MOSCOW (Reuters) – Russian President Vladimir Putin will meet Royal Dutch Shell Chief Executive Ben van Beurden in Moscow this week, Kremlin aide Yuri Ushakov told reporters on Tuesday.

Ushakov said Putin and the Shell boss will discuss the Sakhalin-2 liquefied natural gas (LNG) project on Russia’s Pacific coast, where Shell is a minority shareholder, and a plan to build an LNG plant on Russia’s Baltic coast. Shell and Russian gas giant Gazprom last year signed a memorandum of understanding to work together on the plant. read more

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Shell, BP go separate ways as Washington voters consider fee on greenhouse-gas polluters

Royal Dutch Shell opts to sit on the sidelines while BP shovels money into opposing Initiative 1631.

 Seattle Times staff reporter: September 30, 2018 

In speeches, reports and online posts, BP and Royal Dutch Shell leaders proclaim support for government rules that put a price on greenhouse-gas pollution resulting from the combustion of oil, natural gas and coal.

But as Washington voters head toward a November vote on an initiative to impose a carbon fee on fossil fuels, the two oil giants have gone their separate ways.

Shell, which operates the state’s second largest refinery, in Anacortes, has opted to sit on the sidelines of what has emerged as one of the most expensive initiative battles in Washington history. If approved, Initiative 1631 could serve as a model for other states. read more

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Shell Poised for LNG Canada Decision With Signs Pointing to Yes

By Natalie Obiko Pearson , Michael Bellusci , and Kevin Orland
26 September 2018, 15:31 BST

  • Shell, partners said to plan announcement in early October
  • Project group plans event involving fireworks in Kitimat

Royal Dutch Shell Plc and its partners are set to announce a decision on their C$40 billion ($31 billion) liquefied natural gas terminal in western Canada as early as next week, amid signs the companies are poised to approve it, according to people familiar with the plans.

Preparations for an Oct. 5 announcement followed by an LNG Canada event and fireworks at the local golf club the next day are underway in Kitimat, British Columbia, the site of the proposed project, said people with direct knowledge of the activities, who asked not to be identified. The situation is fluid and timing could change, the people said. read more

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Shell CEO: $80 Oil To Boost Energy Infrastructure Investment

By Tsvetana Paraskova – Sep 26, 2018, 9:00 AM CDT

Brent Crude at $80 a barrel is not an “unreasonable” price of oil, and it will support investment in oil and gas infrastructure after the downturn, Shell’s chief executive Ben van Beurden told CNBC in an interview on Tuesday.

“We should be able to balance the market at that sort of oil price level, but of course bringing on new production is not a short-term event,” van Beurden said, noting that it takes years for the industry to bring new production online. read more

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Scoop: Shell sits out Washington carbon fight

Harder: 26 Sept 2018

Royal Dutch Shell is sitting out a multi-million dollar fight over a carbon fee proposal in Washington state even as nearly all other oil companies with operations there rally to oppose it.

Why it matters: It’s a sign of the oil industry’s uneven, years-long evolution toward supporting policies that put a price on carbon emissions. And whether Washington State voters support the initiative, which is on the state-wide ballot this Election Day, will be a bellwether for other attempts at big climate policy. read more

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Shell CEO says $80 oil supports energy infrastructure investment, even as steel quotas raise costs

25 Sept 2018

  • Royal Dutch Shell CEO Ben van Beurden says $80 oil is not “unreasonable” and will help fuel spending on oil and gas infrastructure after a period of underinvestment.
  • The Trump administration’s steel quotas are beginning to impede some of Shell’s construction projects in the United States, van Beurden said.
  • Shell has not yet canceled any construction due to the trade barriers, and it is driving down the cost of its offshore projects.

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The Trump administration’s steel quotas present a challenge to building new oil and gas infrastructure in the United States, but rising crude prices help fuel investment, Royal Dutch Shell CEO Ben van Beurden tells CNBC.

International benchmark Brent crude hit a nearly four-year high above $81 a barrel on Monday as the market braces for U.S. sanctions on Iran that threaten to wipe about 1 million barrels a day off the market. Brent’s multiyear high came after OPEC, Russia and other oil producers declined to boost output to tackle rising prices. read more

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Shell CEO Considers New Natural-Gas Bet

By Ryan Dezember and Inyoung Hwang: 

Shortly after Ben van Beurden took over as chief executive of Royal Dutch ShellPLC, he bet the company on natural gas, with a roughly $50 billion takeover of a rival focused on shipping the fuel around the globe. Now he is preparing to double down.

Mr. van Beurden said Tuesday that a consortium led by the Anglo-Dutch energy giant will decide before year-end whether to move forward with a $30 billion, liquefied-natural-gas export terminal in western Canada.

“We postponed the decision previously when the project wasn’t ready in terms of economic fortunes,” he told The Wall Street Journal… read more

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Shell begins share buyback but vows to ‘tighten screws

Shell, which has its headquarters in the Netherlands, does business in more than 70 countries:TORU HANAI/REUTERS

Royal Dutch Shell launched a long-awaited $25 billion share buyback plan as it sought to shrug off disappointing second-quarter results.

The Anglo-Dutch energy group insisted it had had a “very good quarter” as profits excluding exceptional items rose to $4.7 billion, up from $3.6 billion a year earlier, aided by higher oil and gas prices.

The result was significantly below analysts’ expectations of almost $6 billion, however, because of factors including foreign exchange effects and rising operating costs. read more

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Shell quarterly profit rises 30 percent, oil giant announces $25 billion share buyback

  • Oil giant Royal Dutch Shell posted a 30 percent rise in net profit in the second quarter of 2018.
  • Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $4.69 billion.
  • Shell announced a $25 billion share buyback program.

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Oil giant Royal Dutch Shell posted a 30 percent increase in net profit in the second quarter of 2018 and announced a $25 billion share buyback program.

Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $4.69 billion, up from $3.6 billion seen in the same quarter a year ago.

The earnings fell short of an analyst consensus of $5.967 billion, however, Reuters reported.

The company said the earnings “reflected increased contributions from Integrated Gas and Upstream, partly offset by lower earnings in Downstream.” read more

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Shell Starts Long-Awaited Buybacks Even as Profit Misses

By Kelly Gilblom: 26 July 2018, 07:21 BST. Updated on 26 July 2018, 08:40 BST

*Energy giant to buy back $2 billion of shares over 3 months

*Second-quarter profit misses even the lowest analyst estimate

Royal Dutch Shell Plc finally gave investors the share buybacks they’ve been demanding, even as profit fell short of expectations despite resurgent crude prices.

The Anglo-Dutch energy producer said Thursday that it is starting a $25 billion share-repurchase program, initially buying up $2 billion of stock over three months. That should soothe investors who have grown increasingly anxious about when they’ll see the reward for sticking with Shell through the biggest oil-industry downturn in a generation. read more

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Shell kick-starts £19bn windfall for patient shareholders

Shell boss Ben van Beurden said the move “complements the progress we have made since the completion of the BG acquisition in 2016” 

Jillian Ambrose: 

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‘Noisy democracies’ block climate progress for Shell

Ben van Beurden, chief executive of Royal Dutch Shell, said governments need to lead if the world is to meet the goals of the Paris climate agreement: TIMES NEWSPAPERS LTD

The boss of Royal Dutch Shell has said it is easier to make progress on climate change in countries such as China than in “noisy democracies” such as Britain.

Ben van Beurden, chief executive, complained yesterday that the world was spending too much time and effort arguing about how to tackle global warming instead of taking action.

“In places like China it works very well, governments work very gratefully with us and adopt really incredibly pragmatic and powerful policies, sensible, etc. Here, there are more participants in the debate, let me put it that way,” Mr Van Beurden said. read more

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Shell boss Ben van Beurden will not set firm emission targets

Royal Dutch Shell would be “foolhardy” to adopt firm targets for cutting its carbon emissions because it would open itself up to lawsuits, the company’s boss has said.

The energy group has set an “ambition” to halve the carbon footprint of its energy products by 2050, which it says would put it in line with the Paris climate goals, but has resisted calls for binding commitments.

Ben van Beurden, Shell chief executive, said that the group did not want to “put ourselves at the mercy of a legal challenge”. read more

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Shell CEO Van Beurden says UK should move 2040 car ban forward

Shell CEO Van Beurden says UK should move 2040 car ban forward

Chief executive of Shell, Ben Van Beurden, has reportedly said today that he believes the 2040 UK ban on petroleum and diesel car sales should be brought forward.

Written by

In response to a question from an audience member at the Powering Progress Together event in London, Mr Van Beurden reportedly said that while “everyone was going to have to move quickly, the UK ought to move more quickly than most” and that it was “sensible” that the government move the 2040 target forward.

Mr Van Beurden was speaking at the event on the eve of the company’s Shell Eco Marathon to outline his firm’s commitment to a “cleaner future, transport and beyond”. read more

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Shell CEO says ‘foolhardy’ to set carbon reduction targets

Shell CEO says ‘foolhardy’ to set carbon reduction targets

Ron Bousso: JULY 5, 2018

LONDON (Reuters) – Royal Dutch Shell’s boss said it would be “foolhardy” for the oil and gas producer to set hard targets to reduce carbon emissions as it risked exposing the energy giant to legal challenges.

The energy industry has struggled in recent years to find a clear path to secure its role as the world shifts from fossil fuels in order to meet the 2015 Paris climate agreement goals.

Shell Chief Executive Officer Ben van Beurden last year set out ambitions last year to halve its carbon emissions by 2050, far exceeding rivals. But the Dutch CEO resisted calls by activists and some investors to set binding targets. read more

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Royal Dutch Shell: Streamlining Assets

Jun. 30, 2018 12:54 AM ET

Summary

  • Renewal of assets with great focus on the future.
  • Natural gas as energy source will continue to grow.
  • Share buybacks and generous dividends.

Background

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has been actively focusing on what kind of business it wants to be involved in. Part of this activity is to change the composition of its assets. It has been selling plants and oil licenses, and invested where it wants to position the company.

Disposals have also been done to reduce the total debt level. Much of the debt came from the $35 billion acquisition of BG Group back in March of 2016.

Disposals

Early this year, Shell communicated that its plans were to leave oil and gas operations in as many as 10 countries and instead focus more heavily on gas-rich Australia and shale opportunities in the United States. read more

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Shell approves second North Sea project this year

Jun. 25, 2018 11:14 AM ET|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) approves its second North Sea project in six months, moving forward with development of the Fram natural gas field it considered uneconomical to produce six years ago.

Shell, along with partner Exxon Mobil (XOM -1.7%), says it plans to produce as much as 13K boe/day from two wells in the Fram field by 2020, adding ~10% to the company’s current output in the U.K. North Sea.

Steve Phimister, head of Shell’s U.K. exploration and production unit, says deep cost cuts following crude’s decline and connecting smaller oil and gas pools to bigger projects are allowing it to squeeze more out of an aging North Sea, and that the company may take several more investment decisions in the North Sea this year because of the improved economics. read more

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After Successful Talks With Buhari, Shell Gets Approval For N10bn Bonga Southwest Project

After the discussions between Buhari and van Beurden, Minister of State for Petroleum Resources, Ibe Kachikwu, sent a letter to the Group Managing Director (GMD) of Nigeria’s state-owned oil company NNPC, Mikanti Baru, instructing the corporation and the Anglo-Dutch oil company to conclude arrangements for the start of the project.

BY SAHARA REPORTERS, NEW YORK JUN 20, 2018

After years of delay, Shell has received approval to begin the Bonga Southwest project, following discussions held in London between its CEO Ben Van Beurden and Nigeria’s President Muhammadu Buhari.

The project, which was first scheduled for completion in 2014, is expected to add 225,000 barrels per day to Nigeria’s present production average of 1.8-2.00 million bpd.

After the discussions between Buhari and van Beurden, Minister of State for Petroleum Resources, Ibe Kachikwu, sent a letter to the Group Managing Director (GMD) of Nigeria’s state-owned oil company NNPC, Mikanti Baru, instructing the corporation and the Anglo-Dutch oil company to conclude arrangements for the start of the project. read more

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City heavyweights head for Putin’s business forum

The chief executives of some of the biggest British-listed companies are set to travel to Russia this week for a business forum hosted by President Putin, despite simmering tensions over visas and US sanctions against the country.

The oil bosses Bob Dudley, of BP, and Ben van Beurden, of Royal Dutch Shell, are scheduled to speak at the St Petersburg Economic Forum on Friday. Ivan Glasenberg, chief executive of Glencore, the mining and commodities group, and Xavier Rolet, former chief executive of the London Stock Exchange, are also due to take part. read more

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Shell boss hit by shareholder revolt over £8m pay

A quarter of Shell shareholders turned on Ben Van Beurden after he pocketed €8.9m (£7.8m)

Jillian Ambrose: 

The boss of Royal Dutch Shell has suffered a bruising shareholder revolt after more than a quarter of its investors voted against his multi-million euro payout for last year.

Ben Van Beurden pocketed €8.9m (£7.8m) for 2017 after trebling the company’s profits to $12.1bn (£9bn) as the oil giant staged an impressive recovery from a crash in prices.

But shareholders took against the FTSE 100 boss after an accident in Pakistan last year claimed the lives of more than 200 people in an explosion of a fuel tanker operated by one of the energy giant’s subsidiaries. read more

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Shell shareholders adopt CEO pay by 75 percent majority

FILE PHOTO: Ben van Beurden, CEO of Royal Dutch Shell company, speaks during a meeting with Russian President Vladimir Putin in Moscow, Russia June 21, 2017. REUTERS/Sergei Karpukhin

Reuters Staff: May 22, 2018

THE HAGUE (Reuters) – Royal Dutch Shell (RDSa.L) shareholders on Tuesday approved the 2017 management remuneration, including Chief Executive Officer Ben van Beurden’s 8.9 million euro ($10.51 million) package, by a majority of 75 percent.

The 2016 remuneration resolution won the support of more than 92 percent of shareholders. read more

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Shell urged to resist calls to fall into line with Paris climate accord

20 MAY 2018 • 7:30PM

Britain’s largest shareholder advisory groups have called on investors in Royal Dutch Shell to reject growing demands for the oil giant to take full responsibility for its impact on the environment.

Shell faces a binding shareholder vote tomorrow to decide whether to adopt rigorous accountability standards to bring its operations into line with the Paris climate agreement. Glass Lewis and ISS have urged shareholders to reject the “unduly burdensome” and “problematic” proposal. read more

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Shell and BP may face further shareholder opposition at AGM

Shell and BP may have to face down shareholder opposition to their chief executives’ pay packets at their annual general meetings next week.

Written by

And for the third year in a row, Shell investors will vote on a resolution asking the company to set clear goals for meeting climate change targets.

Recommendations by the Institutional Shareholders Services (ISS) once again focus heavily on the pay of top executives at the energy giant, with ISS raising concerns over the 80% rate of bonus delivered to the CEO of Shell despite only reaching 70% on sustainable development targets.

Similarly, investors advisory firm Pensions and Investment Research Consultants (PIRC) continued to caution shareholders against sanctioning BP chief executive Bob Dudley’s remuneration package, which it called “excessive” in 2017 as it soared by more than £1 million to £9.5m. read more

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Shell Spreads Its Bets Around as It Prepares for a Greener Future

Shell closed a deal to buy First Utility, a British energy company that owns neither power plants nor gas pipelines, in March. CreditTom Jamieson for The New York Times

By Stanley Reed

COVENTRY, England — There seems to be little about the scrappy energy company in central England that would appeal to Royal Dutch Shell, the button-down oil giant.

The little company, First Utility, is an upstart challenger. It offers friendly customer service, and low prices on electricity and natural gas. But it doesn’t own any power plants or gas pipelines; First Utility is a virtual energy company — the product of technological advancement and deregulation. read more

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Carl Mortished: Higher pay for top bosses doesn’t deliver better results

CARL MORTISHED: 16 MAY 2018

It’s a sure sign of confidence: people are getting angry about the boss’s pay. When tumble weed blows down Main Street, no one complains about the trough in the boardroom. Envy doesn’t sit well with fear but the sun is shining on Royal Dutch Shell’s corporate livery, the share price is buoyant and cash overflowing. A shareholder advisory organisation is complaining about the €9 million (£7.9 million) pay of Ben van Beurden, Shell’s chief executive. read more

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More investor rebellions brew as BP and Shell bosses’ pay comes under fire

Alys Key: Retail and leisure reporter: Tuesday 15 May 2018

More shareholder rebellions are brewing as a summer of AGM revolts gets underway, with oil and gas companies the latest to face the music.

Shareholders in BP are being urged to vote against the “unacceptable” pay of chief executive Bob Dudley, whose remuneration is 48 times higher than the company’s average employee.

Advisory service Pensions & Investment Research Consultants (Pirc) advised shareholders to oppose the company’s remuneration report at the annual general meeting on 21 May. read more

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Shell Faces Shareholder Outcry Over Incident That Killed 200

BY Kelly Gilblom: 14 May 2018, 12:02 BST

Royal Dutch Shell Plc will face difficult questions at its annual general meeting next week after an investor-advisory group urged shareholders to challenge executive pay and the company’s response to a fatal accident in Pakistan. 

Institutional Shareholder Services Inc., an influential adviser on corporate governance, has recommended investors reject Shell’s pay report at its AGM on May 22, saying it was initially “silent” on the Pakistan incident. ISS also said it could only offer “qualified support” to the re-election of the independent director looking after corporate social responsibility.  read more

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Shell boss Ben Van Beurden facing a shareholder revolt over his £7.8m pay packet

The boss of oil giant Shell is facing the threat of a revolt over his £7.8million pay packet.

Institutional Shareholders Services, a leading investor advisory group, is recommending that Ben van Beurden’s pay is voted down at the annual general meeting later this month.

ISS said it also wants more information about how the 60-year-old’s bonus was affected by an incident in Pakistan in 2016, when a fuel tanker operated by a Shell Pakistan contractor exploded, killing more than 200 people. read more

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Shell faces new revolt as chief’s €9m pay stirs investor concern

and in London: 13 MAY 2018

Royal Dutch Shell is facing the threat of a shareholder rebellion against its chief executive’s €9m annual pay packet, piling further pressure on the energy group which was already braced for a clash with investors this month over climate change.  Institutional Shareholder Services, the advisory firm whose recommendations influence votes at annual meetings, has urged investors to reject Shell’s 2017 remuneration report, citing concerns about high payouts and safety issues.  Ben van Beurden, chief executive, received €8.9m last year… FULL FT ARTICLE read more

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Big Oil’s big identity crisis

Big Oil is under pressure to clean up its act CREDIT: MARY ALTAFFER/AP

Europe’s largest oil super-major is not really an oil company, according to the boss of Royal Dutch Shell.

This is just as well for the energy giant, which plans to halve its carbon emissions within the coming decades as it bids to bring its offering in line with the global war on climate change.

“If anything we are more a gas and oil company, and on top of it, of course, we are a much broader energy company, as well,” Ben van Beurden insists. read more

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Big Oil Bids to Burnish Credentials in War on Climate Change

The world’s biggest oil companies, for long typecast as villains of climate change, are seeking to reinvent themselves as environmental pioneers.

“We’re not going to be sitting back and say let’s see what society does and we’ll follow that,” said Ben van Beurden, chief executive officer of Royal Dutch Shell Plc. “We’re more than prepared to be assertive and lean forward and say: ‘This is what it takes.”’

Irked by a shareholder resolution that would force Europe’s largest oil company to create specific emissions targets, the CEO took the unusual step of engaging with five reporters on Monday about Shell’s vision for a decarbonized world. Not only is Shell implementing its own, much stronger, measures to manage the energy transition, according to Van Beurden, but it can also drag the rest of the world along with it. read more

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Shell CEO asks investors to reject shareholder vote on emissions

Apr. 16, 2018 11:41 AM ET|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) urges shareholders to oppose a resolutionfrom activist investors that would hold the company to firm targets for cutting carbon emissions, even as it reiterates its commitment to fighting climate change.

Climate activist Follow This is offering a resolution for Shell’s May 22 annual general meeting urging the company to set more aggressive targets aligned with the Paris climate deal goal of limiting global warming to “well below” 2 degrees Celsius.

“We will not be tied to an approach that potentially moves too quickly or too slowly to this transition,” says CEO Ben van Beurden. “If society finds a way to go faster, we will go faster… but we cannot do it single-handedly.” read more

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Shell’s CEO Tells Activists and Investors: Trust Me to Cut CO2

Chief Executive Officer Ben van Beurden has the same message for activists seeking to bind Royal Dutch Shell Plc to deep emissions cuts, and investors concerned about the merits of shifting away from oil and gas: Trust me.

He advised shareholders on Monday to reject a resolution from climate group Follow This that would set clear targets for the company’s greenhouse-gas emissions, more specific than its current broad “ambition.” He also reiterated his intention for Shell to make most of its money from clean energy in 20 years, such as renewables, hydrogen or carbon capture in 20 years.  read more

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Shell defends climate strategy in clash with investors

Ron Bousso

LONDON (Reuters) – Royal Dutch Shell defended its ambition to cut carbon emissions on Monday, urging investors to oppose a shareholder resolution arguing that the oil and gas giant is not doing enough to meet international targets to tackle climate change.

The Anglo-Dutch company, like many of its peers, has faced growing investor pressure to address the need to reduce fossil fuel burning, forcing it to seek a delicate balance with a need to secure growing returns from its traditional business. read more

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SHELL SHOULD HAVE BEEN MORE ASSERTIVE IN CLIMATE CHANGE WARNINGS, CEO SAYS

By Janene Pieters on Monday April 16, 2018

Shell “should have been more assertive” in its warnings about climate change, Ben van Beurden, CEO of the Dutch oil and gas giant said in a podcast by Studio Energie. Environmental group Milieudefensie recently for the role it played in the climate problems the world currently faces. 

In 1991 Shell released a film that outlined a disturbing picture of the problems climate change will cause in the future. “Perhaps we should have talked louder, maybe we should have made a bigger problem out if it? To be honest, I think, if we look back on that, we could and should have been more assertive”, Van Beurden said in the podcast, according to NOS. “Because now the problem is put on us, while ultimately it is of course a much broader social problem.”  read more

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Shell to transition from oil when it ‘makes commercial sense’

Oil giant Shell said today that it will continue to “sell the oil and gas that society needs” but is also positioning itself to transition further into low-carbon energy when it “makes commercial sense”.

Shell’s Energy Transition Report outlines the firm’s continued commitment to oil exploration while setting out its strategy for the future changes in the energy sector.

The oil company said that it estimates that 80% of its current proven oil reserves “will be produced” by 2030, and only expects to see 20% production after that time.

In today’s report, Shell said outlined that it will look to invest up to £3.5billion in conventional oil and gas and the same amount again in oil products, while also investing up to £1.4billion in new renewable energies. read more

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Shell’s Climate Push Fails to Cut Emissions

Royal Dutch Shell Plc is demonstrating how tough it is for a massive, 100-year-old oil company to become a friend to the climate.

Shell’s greenhouse-gas emissions rose last year to the highest since 2014, it said Monday. The increase shows the challenge facing Chief Executive Officer Ben van Beurden as his company grows to meet burgeoning energy demand while investors demand a clear path toward a low-carbon future. 

“As living standards rise, energy demand could double over the course of the century,” Van Beurden said in Shell’s sustainability report. “The world is going to have to make meeting this demand part of the approach to cutting emissions.”  read more

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Environmental Group Vows To Sue Shell Over Climate Change

By Tsvetana Paraskova – Apr 04, 2018, 6:00 PM CDT

In the latest legal campaign against Big Oil, Friends of the Earth Netherlands vowed on Wednesday to take Shell to court if it doesn’t act on demands to align its corporate strategy with the global climate objectives.

“Shell is liable for its substantial contribution to climate change and for the associated social and environmental damages,” Friends of the Earth Netherlands, or Milieudefensie as it is known in Dutch, said in a letter sent to Shell’s chief executive Ben van Beurden today. read more

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British firms advised to skip Russia summit

Some of Britain’s biggest companies have been urged to boycott Russia’s main annual business summit in St Petersburg next month, amid growing political tensions triggered by the poisoning of Sergei Skripal and his daughter.

Bob Dudley, BP’s chief executive; Ben van Beurden, the chief executive of Royal Dutch Shell; and a number of other UK executives attended the St Petersburg International Economic Forum last year.

The event, hosted by President Putin, is due to be held this year on May 24-26, three weeks before the country hosts the football World Cup. read more

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Shell risks fury as chief executive Ben van Beurden reaps £7.9m windfall

Pay: Shell chief Ben van Beurden took home nearly £8 million last year Ben Stansall/AFP/Getty Images

ANGELA JAMESON: 

Shell’s chief executive Ben van Beurden took home a bumper pay package of €8.9 million (£7.9 million) in 2017, as the firm cashed in on recovering oil prices.

The oil giant risked fresh criticism over the payout, following a row with investors last year. 

They said the Dutch chief executive’s long-term incentives were disproportionate compared with peers’. 
 
Van Beurden received a €3 million annual bonus in 2017 on top of his €1.49 million salary. The chief executive also picked up  €4.02 million in long-term bonuses and incentives, according to the group’s annual report. read more

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Shell — yes, that Shell — just outlined a radical scenario for what it would take to halt climate change

Shell CEO Ben van Beurden

March 26, 2018

Royal Dutch Shell on Monday outlined a scenario in which, by 2070, we would be using far less of the company’s own product — oil — as cars become electric, a massive carbon storage industry develops, and transportation begins a shift toward a reliance on hydrogen as an energy carrier.

The company’s Sky scenario was designed to imagine a world that complies with the goals of the Paris climate agreement, managing to hold the planet’s warming to “well below” a rise of 2 degrees Celsius, or 3.6 degrees Fahrenheit, above preindustrial levels. Shell has said that it supports the Paris agreement. read more

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How to take the oil out of Shell

The Anglo-Dutch energy giant is preparing for a world where its main product is much less in demand

Despite Shell’s move towards renewable energy, oil will continue to grease its wheels for years to come: ILLUSTRATION: HAYLEY DALRYMPLE

Ben van Beurden, a three-decade veteran of the oil industry, did something that went completely against the grain. Last year the chief executive of Royal Dutch Shell traded in his diesel-guzzling car — these days he motors around the Hague in a plug-in Mercedes-Benz S500.

His switch to a hybrid vehicle encapsulates the quandary facing Britain’s largest listed company: the future may be electric, but oil is the mainstay of Shell’s £200bn empire and will continue to sustain its vast profits for years to come. read more

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Royal Dutch Shell Management Presents Its “World-Class Investment Case”

Management thinks the things it has done in recent years will set it up to deliver huge returns for shareholders.

Tyler Crowe (TMFDirtyBirdMar 19, 2018  It’s hard for a $250-billion-plus business to change its stripes, but Royal Dutch Shell’s(NYSE:RDS-A) (NYSE:RDS-B) has done a rather incredible job over the past few years transforming the company into one of the most compelling investments in the integrated oil and gas industry.Now that Shell has weathered the storm of low oil prices and is back to generating returns, management has plans both within and without the oil industry to preserve what it calls a “world-class investment case.” Here are several quotes from the company’s most recent earnings conference call that highlight some of the efforts Shell is taking to both grow the business and make the stock a better investment.

Diversifying the business away from oil

One thing that is becoming a larger fixture of every investor conference call for Shell and other big oil companies is touting one’s alternative energy strategy. Shell is around the middle of the pack when it comes to shifting away from oil and gas, but CEO Ben van Beurden was quick to point out some of the investments the company made recently as well as the framework for its alternative investment strategy.

So we expect our capital investment in New Energies to be $1 billion to $2 billion on average per year until the end of the decade. But as it is dependent on both organic and inorganic investment opportunities, this might be a little bit more or a little bit less depending on the year. But that’s, of course, without changing the overall group capital investment budget for that year. read more

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Selection of Shell related news stories 16 March 2018

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