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Oil majors win dismissal of New York City climate lawsuit

Shell, Exxon and ConocoPhillips all said they were pleased with the court ruling.

Brendan Pierson: JULY 19, 2018

NEW YORK (Reuters) – A U.S. judge on Thursday dismissed a lawsuit by New York City seeking to hold major oil companies liable for climate change caused by carbon emissions from burning fossil fuels.

In dismissing the city’s claims against Chevron Corp (CVX.N), BP Plc (BP.L), ConocoPhillips (COP.N), Exxon Mobil Corp (XOM.N) and Royal Dutch Shell Plc (RDSa.L), U.S. District Judge John Keenan in Manhattan said climate change must be addressed through federal regulation and foreign policy. read more

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U.S. court dismisses climate change lawsuits against oil companies

U.S. court dismisses climate change lawsuits against oil companies

Reuters Staff: JUNE 26, 2018

(Reuters) – A federal court in California dismissed climate change lawsuits by the cities of San Francisco and Oakland against five oil companies, saying the complaints required foreign and domestic policy decisions that were outside its purview.

San Francisco and Oakland sued Chevron Corp, Exxon Mobil Corp, ConocoPhillips, Royal Dutch Shell Plc, and BP Plc last year seeking an abatement fund to help the cities address flooding they said was a result of climate change.

Judge William Alsup of the U.S. District Court for the Northern District of California said in the ruling that the dangers raised by the complainants were real and worldwide, and both parties accepted the science behind global warming. read more

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Judge tosses San Francisco-Oakland climate change lawsuit against big oil companies

Judge tosses San Francisco-Oakland climate change lawsuit against big oil companies

– Associated Press – Monday, June 25, 2018

SAN FRANCISCO — A U.S. judge who held a hearing about climate change that received widespread attention ruled Monday that Congress and the president were best suited to address the contribution of fossil fuels to global warming, throwing out lawsuits that sought to hold big oil companies liable for the Earth’s changing environment.

Noting that the world has also benefited significantly from oil and other fossil fuel, Judge William Alsup said questions about how to balance the “worldwide positives of the energy” against its role in global warming “demand the expertise of our environmental agencies, our diplomats, our Executive, and at least the Senate.” read more

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Judge wants more info from big oil companies in climate change lawsuits

May 25, 2018 12:42 PM ET|By: , SA News Editor

A federal judge yesterday said he needed more information before deciding whether to dismiss lawsuits by the cities of San Francisco and Oakland alleging that Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Royal Dutch Shell (RDS.A, RDS.B), BP and ConocoPhillips (NYSE:COP) should pay to protect residents from the impacts of climate change.

The judge also wants the companies to produce additional material backing up claims that they should not be a part of the case because the court lacked jurisdiction over them. read more

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Judge to hear oil companies’ bid for dismissal of climate change lawsuits

The five defendants are the world’s largest investor-owned oil companies: Chevron Corp., Exxon Mobil Corp., ConocoPhillips, BP PLC, and Royal Dutch Shell PLC.

By on May 24, 2018 7:59 am

Five oil companies are due to ask a federal judge on Thursday to dismiss a pair of climate change lawsuits filed by the cities of Oakland and San Francisco.

U.S. District Judge William Alsup will hear arguments on the companies’ motions for dismissal in his San Francisco courtroom at 8 a.m. Thursday.

The lawsuits filed last year claim the corporations created a
public nuisance by producing “massive quantities” of oil and natural gas and promoting their use while knowing they lead to global warming and rising sea levels. read more

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Climate Change Warriors’ Latest Weapon of Choice Is Litigation

By Jeremy Hodges, Lauren Leatherby and Kartikay Mehrotra
May 24, 2018

In the global fight against climate change, one tool is proving increasingly popular: litigation.

From California to the Philippines, activists, governments and concerned citizens are suing the biggest polluters and national governments over the effects of climate change at a break-neck pace.

“The courts are our last, best hope at this moment of irreversible harm to our planet and life on it,” said Julia Olson, an attorney for Our Children’s Trust, a legal challenge center in the U.S. that is involved in climate change litigation across 13 countries, including the U.S., Pakistan and Uganda. read more

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Oil Companies Ask Judge to Kill NYC’s Global Warming Lawsuit

By Bob Van Voris: 4 May 2018, 23:09 BST Updated on 5 May 2018, 02:09 BST

Case affects global economy, national security, companies say

New York argues oil companies denied climate change science

This lawsuit is based upon the fundamental principle that a corporation that makes a product causing severe harm when used exactly as intended should shoulder the costs of abating that harm. Defendants here produced, marketed, and sold massive quantities of fossil fuels—primarily oil and natural gas—despite knowing that the combustion and use of fossil fuels emit greenhouse gases (“GHG pollution” or “GHGs”), primarily carbon dioxide (“CO2”). Defendants have also known for decades that GHG pollution accumulates and remains in the atmosphere for up to hundreds of years, where it traps heat, a process commonly referred to as “climate change” or “global warming,” and that this process would cause grave harm.

Five of the world’s biggest oil companies asked a judge to throw out New York City’s lawsuit seeking to hold them responsible for costs related to the environmental changes caused by their products. 

BP Plc, Chevron Corp., ConocoPhillips, Exxon Mobil Corp., and Royal Dutch Shell Plc argued that the court lacks the authority to resolve broad policy questions with “profound implications for the global economy, international relations and America’s national security.” 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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In court, Big Oil rejected climate denial

In a California court case this week, Judge William Alsup asked the two sides to provide him a climate science tutorial. The plaintiffs are the coastal cities of San Francisco and Oakland. They’re suing five major oil companies (Chevron, ExxonMobil, Shell, ConocoPhillips and BP) to pay for the cities’ costs to cope with the sea level rise caused by global warming. FULL ARTICLE

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U.S. judge to question Big Oil on climate change

David Levine: 21 MARCH 2018

SAN FRANCISCO (Reuters) – Five of the world’s biggest energy producers will be questioned by a federal judge on Wednesday about climate change science, part of a lawsuit that accuses the companies of misleading the public for years about their role in global warming.

The cities of San Francisco and Oakland, California sued Chevron Corp (CVX.N), Exxon Mobil Corp (XOM.N), ConocoPhillips (COP.N), Royal Dutch Shell PLC (RDSa.L), and BP PLC (BP.L) last year, seeking an abatement fund to help the cities address flooding they say is a result of climate change. read more

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Chevron Says Climate Change Lawsuit `Not Viable’ As It Prepares To Educate Judge On Science

Daniel Fisher: Writer and communications consultant and former senior editor with Forbes magazine; 21 March 2018

Five of the world’s largest oil and gas producers have filed a motion to dismiss a climate change lawsuit against them by the cities of Oakland and San Francisco even as they prepare to deliver an unusual “tutorial” on climate science to the federal judge overseeing the case.

In a 45-page filing on Tuesday, Chevron, BP, ConocoPhillips, ExxonMobil and Royal Dutch Shell urged U.S. District Judge William Alsup to dismiss the lawsuit seeking billions of dollars to pay for costs associated with global warming. The oil companies argue the U.S. Supreme Court and the U.S. Court of Appeals for the Ninth Circuit have repeatedly rejected similar lawsuits against oil companies, the auto industry and electric utilities because Congress has given authority to regulate CO2 emissions exclusively to the Environmental Protection Agency. read more

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Houston outlook bright with U.S. shale set to dominate global growth for years

Forecasters at Royal Dutch Shell, the Anglo-Dutch oil major, have predicted that global oil demand could peak within a decade as electric cars and other clean energy technologies gain larger market shares.

March 5, 2018 Updated: March 5, 2018 8:42pm

Houston’s energy industry, which drives the local economy, has much brighter days ahead as global oil demand climbs, shale production booms and U.S. crude grabs larger shares of global markets, according to forecasts, industry officials and analysts.

The United States is already pumping oil at record levels above 10 million barrels a day, surpassing Saudi Arabia, and may take over from Russia as the world’s production leader by the end of 2018. Over the next five years, daily U.S. production is expected to climb 3.5 million barrels, or 35 percent, to more than 13 million barrels, according to a forecast by the International Energy Agency, which monitors the global oil industry. read more

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New York City Inspires Paris to Take on Big Oil Companies

By

A little more than a month after Mayor Bill de Blasio announced that New York City will take the fossil fuel industry to court, Paris says it is following suit.

In early January, de Blasio announced that the city filed a lawsuit against five of the United States’ biggest oil companies—BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell—on the grounds that they have contributed to global warming. The city will also divest from fossil fuel companies over a five-year period.

On Feb. 6, 350.org—which has been working on a divestment campaign for the last four years—announced that Paris was looking into the possibility of suing the fossil fuel industry as well.

The City Council passed a motion to study the possibility of taking legal action against oil companies to cover expenses associated with protecting Paris from the impacts of climate change.

The Council plans to lobby other major cities like London to ban fossil fuels from their investments through the C40 Cities Climate Leadership Group, whose president is Paris Mayor Anne Hidalgo. read more

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Why Canada is the next frontier for shale oil

FILE PHOTO: Four rigs drill at the Super Pad in Seven Generations Energy’s Kakwa River Project in northwest Alberta, Canada in a photo provided January 19, 2018. Seven Generations Energy Ltd/Handout via REUTERS

Nia Williams: 29 JAN 2018

CALGARY, Alberta (Reuters) – The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oil sands.

Now Canada is looking to its own shale fields to repair the economic damage.

Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations, which they say could rival the most prolific U.S. shale fields.

Canada is the first country outside the United States to see large-scale development of shale resources, which already account for 8 percent of total Canadian oil output. China, Russia and Argentina also have ample shale reserves but have yet to overcome the obstacles to full commercial development. read more

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Big Oil Plans Tenfold Expansion of Cost-Cut Collaboration

The world’s largest energy companies plan to significantly widen a two-year effort to standardize the kit they use to pump oil and gas, hoping they can deliver significant cost savings, said people familiar with the matter.

The discussions, scheduled on Wednesday for a closed-door meeting at the World Economic Forum in Davos, are the latest sign companies are seeking to tighten their belts permanently even as oil prices recover. Bespoke equipment designed on a project-by-project basis was common during the decade-long boom in crude prices, but looks less affordable after the industry’s worst downturn in a generation. read more

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CAN BIG OIL BE SUED FOR CAUSING GLOBAL WARMING?

BY

New York City and a number of California municipalities, including San Francisco and Oakland, have filed lawsuits against five major oil companies—BP, Chevron, ConocoPhillips, Exxon Mobil, and Royal Dutch Shell—for contributing to the increased risk of global warming.

These complaints cite recent scientific reports that project that sea levels will rise from 0.2 meters to 2.0 meters (or 0.66 to 6.6 feet) by 2100, with a major loss of land surface area and serious climate disruptions. read more

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New York City sues Shell, ExxonMobil, and other oil majors over climate change

Each of the first six months of 2016 set a record as the warmest respective month globally. Credit: NASA/GISS
January 10 2018

The New York City government is suing the world’s five largest publicly traded oil companies, seeking to hold them responsible for present and future damages to the city from climate change.

The suit, filed Tuesday against BP, Chevron, Conoco-Phillips, ExxonMobil and Royal Dutch Shell, claims the companies together produced 11 percent of all of global warming gases through the oil and gas products they have sold over the years. It also charges that the companies and the industry of which they are part have known for some time about the consequences but sought to obscure them. read more

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U.S. offers drillers nearly all offshore waters, but focus is on eastern Gulf

Ernest Sheyder and Valerie Volcovici

HOUSTON/WASHINGTON (Reuters) – President Donald Trump’s administration has proposed opening up nearly all of America’s offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico.

The industry’s focus on an area located near a sprawling network of existing platforms, pipes and ports could ease the path to new reserves, and assuage the drilling opponents near other places offered under the Interior Department’s proposed drilling plan issued last week, like California’s Pacific, the Atlantic and Arctic. read more

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Norway Faces Up to Big Oil’s Snub

Norway is realizing it will have to do without the deep pockets of the biggest oil companies as it seeks to extend an era that has made it one of the world’s richest countries.

The most recent blow came when only 11 companies applied for new blocks in the Arctic Barents Sea, touted as the country’s most promising area for exploration. Chevron Corp. and ConocoPhillips were absent after bidding the last time, while Exxon Mobil Corp. and Total SA remained out of the race. Of the five super-majors, only Royal Dutch Shell Plc applied. read more

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Pressured for profit, oil majors bet big on shale technology

Shell, in an initiative called “iShale,” has marshaled technology from a dozen oilfield suppliers, including devices from subsea specialist TechnipFMC Plc that separate fracking sand from oil and well-control software from Emerson Electric Co, to bring more automation and data analysis to shale operations.

Ernest Scheyder: NOVEMBER 28, 2017

HOUSTON (Reuters) – Shale oil engineer Oscar Portillo spends his days drilling as many as five wells at once – without ever setting foot on a rig. read more

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Big Oil is under pressure, unloved and on sale. 

  • Norway wants to dump its stakes in oil and gas companies
  • Proposal adds to doubts over industry’s long-term outlook

Big Oil is under pressure, unloved and on sale.

Energy giants from Exxon Mobil Corp. to Royal Dutch Shell Plc are struggling back to their feet after a three-year oil slump, while also fighting to prove they can survive for decades to come amid an accelerating shift to clean energy. So getting dumped by the world’s biggest investment fund wouldn’t be welcome news.

Norway’s $1 trillion sovereign wealth fund said on Thursday that it wants to sell about $35 billion of shares in oil and gas companies to make the nation “less vulnerable” to a drop in crude prices. Global energy giants favored by long-term investors including Italy’s Eni SpA, PetroChina Ltd. and Russia’s Gazprom PJSC account for more than $20 billion of that total. read more

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World’s Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.  

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

“Our perspective here is to spread the risks for the state’s wealth,” Egil Matsen, the deputy central bank governor overseeing the fund, said in an interview in Oslo. “We can do that better by not adding oil-price risk.” read more

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Australia PM Turnbull says gas companies agree to domestic supply deal

SEPTEMBER 27, 2017 / 5:32 AM

SYDNEY (Reuters) – Australian Prime Minister Malcolm Turnbull said on Wednesday gas companies have agreed to a two-year domestic supply deal to plug a projected shortfall in the country’s east, preventing threatened government intervention in the export market.

The agreement heads off the possibility of Australia forcibly curbing exports from Australia’s three east coast gas exporters – Royal Dutch Shell, which runs Queensland Curtis LNG (QCLNG), Origin Energy, which runs the Australia Pacific LNG (APLNG) together with ConocoPhillips and Santos, which operates the Gladstone LNG plant. read more

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Australian gas supply crunch squeezes east coast LNG exporters

UPDATE 2-Gas export curbs loom as Australia’s east faces gas shortfall

By Sonali Paul

MELBOURNE, Sept 25 (Reuters) – Royal Dutch Shell, ConocoPhillips and Santos face curbs on exporting gas from Australia’s east coast in 2018 if they fail to plug a projected local supply shortfall, Prime Minister Malcolm Turnbull warned on Monday.

Eastern Australia faces a gas shortfall of up to 17 percent of market demand in 2018, the nation’s energy market operator and competition watchdog projected in reports submitted to the government on Monday that will be the basis for a decision by Nov. 1 on whether to limit exports. read more

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California cities sue big oil firms over climate change

Gary McWilliams: SEPTEMBER 21, 2017 / 2:34 AM

(Reuters) – California cities San Francisco and Oakland filed separate lawsuits against five oil companies on Wednesday seeking billions of dollars to protect against rising sea levels they blamed on climate change, according to public documents.

The lawsuits, filed in state courts in San Francisco and Alameda Counties, alleged Chevron Corp, ConocoPhillips, Exxon Mobil Corp, BP Plc, and Royal Dutch Shell Plc, created a public nuisance and asked for funds to finance infrastructure to deal with rising sea levels. read more

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San Francisco sues Big Oil for billions over climate change claiming they knew the dangers for decades

‘Instead of owning up to it, they copied a page from the Big Tobacco playbook,’ says San Francisco’s city attorney

The Golden Gate Bridge across San Francisco Bay

The US cities of San Francisco and Oakland are suing five of the world’s largest oil companies for the coasts of walls and other defences against rising sea levels, saying the industry made vast profits from fossil fuels while knowing they were causing “an existential threat to humankind”.

Drawing a direct comparison to the tobacco industry’s sale of cigarettes despite knowledge of the health risks, the city attorneys announced they had filed separate lawsuits against BP, Royal Dutch Shell, Exxon Mobil, Chevron and ConocoPhillips. read more

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SF, Oakland sue top five oil and gas companies over climate change

San Francisco and Oakland on Wednesday announced lawsuits against five major oil and gas companies. (Courtesy photo)

The lawsuits against Chevron, ConocoPhillips, Exxon Mobil, BP and Royal Dutch Shell claim the companies have known for decades that global warming and sea level rise were accelerated by the investor-owned producers of fossil fuels, but the companies still continued to “aggressively produce, market and sell vast quantities of fossil fuels for a global market”

By on September 20, 2017 10:59 am

The cities of San Francisco and Oakland have filed separate lawsuits against five major oil and gas companies for allegedly contributing to the costs of climate change and sea level rise by producing massive amounts of fossil fuels, city leaders announced Wednesday.

The lawsuits against Chevron, ConocoPhillips, Exxon Mobil, BP and Royal Dutch Shell claim the companies have known for decades that global warming and sea level rise were accelerated by the investor-owned producers of fossil fuels, but the companies still continued to “aggressively produce, market and sell vast quantities of fossil fuels for a global market,” according to a news release from the San Francisco City Attorney’s Office. read more

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Total overtakes Shell in North Sea where appetite for assets remains high

AUGUST 22, 2017 / 2:13 PM

LONDON (Reuters) – French oil major Total (TOTF.PA) has overtaken rival Royal Dutch Shell (RDSa.L) to become the second-largest producer in the North Sea with its acquisition of Maersk’s (MAERSKb.CO) Norwegian and UK producing assets.

The $7.45 billion deal by Total was welcomed by the market, with analysts saying it helped the French company rebalance its portfolio by adding assets in developed countries after going for projects in riskier places such as Iran and Russia. read more

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Canada’s Oil Industry Doomed If Prices Fall Lower

By Nick Cunningham – Aug 20, 2017, 6:00 PM CDT

Canada’s oil industry has faced a lot of strain lately. The list of oil majors selling off assets and withdrawing from high-cost oil sands is long. ConocoPhillips, Royal Dutch Shell, Marathon Oil, Murphy Oil and Statoil have sold upwards of $25 billion worth of oil sands assets this year. ExxonMobil also wrote down more than 3.5 billion barrels of oil reserves in Canada at the beginning of 2017. The companies viewed Alberta’s bitumen and heavy oil as no longer competitive in a $50 market, and many of them are focusing on other types of production, such as shale. read more

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The Oil Price Tug Of War

Shell pivots to electricity. The FT reports on the strategic shift underway at Royal Dutch Shell, which is moving to sell electricity to industrial consumers. The move highlights the potential for an oil major to adapt to a rapidly changing energy landscape. Beginning next year, Shell will sell electricity in the UK, but the company has said it would like to expand to the U.S. In the past, oil companies have declined to enter the electricity business, but with long-term oil demand uncertain, oil producers can hedge their bets by getting into electricity.

By Tom Kool – Aug 15, 2017, 3:00 PM CDT

Oil prices remain in a game of tug of war as conflicting news sends both the bears and the bulls to the sidelines.

• In 2015, the U.S. spent the least on energy in over a decade, largely due to the collapse of oil prices.

• In real terms, the U.S. spent $1.27 trillion on energy in 2015, down 20 percent from a year earlier.

• In inflation-adjusted terms, as well as in terms of percentage of GDP, the expenditures were the lowest since 2004. read more

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Exxon Knew, Shell Knew, They All Knew

08/09/2017 07:17 am ET

In 2015, the Union of Concerned Scientists published its landmark exposé“The Climate Deception Dossiers,” which show that not only Exxon, but also Shell, BP, ConocoPhillips, Chevron and coal giant Peabody Energy were aware of the climate change reality since the 70s. Even so, through special interest groups, they invested tens of millions “to sow doubt and promote contrarian arguments they knew to be wrong.”

The fuel that powers this planetary sabotage is called greed. The fossil fuel industry worldwide has accumulated stratospheric levels of wealth over the decades. Moreover, according to a report just published by World Development, in 2015, fossil fuels received a staggering $5.3 trillion in subsidies around the world. This includes not only taxpayer money but also the costs of deaths caused by pollution and these fuels’ contribution to the climate crisis. read more

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Canadian Oil Sands Brace As Oil Majors Dump Shares

By Tsvetana Paraskova – May 30, 2017, 5:00 PM CDT

Royal Dutch Shell and ConocoPhillips struck deals in March to sell Canadian oil assets to two Canada-based producers. In both deals, parts of the consideration for the transactions were shares of the Canadian companies that Shell and ConocoPhillips received.

Although the share transactions are subject to lock-up periods of up to six months following the closing of the deals, Shell and ConocoPhillips are getting ready to sell those shares—possibly months after acquiring them—regulations and agreements permitting. read more

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Group under fire over plans to abandon North Sea structures

INVEZZ.Com: Group under fire over plans to abandon North Sea structures

Oil major sets out case for leaving concrete legs of Brent oil platforms

by Tsveta ZikolovaThursday, 09 Feb 2017

Royal Dutch Shell (LON:RDSA) has come under fire over its plans to decommission the Brent oil and gas field in the North Sea. The move would see the company leave several structures in place, with the oil major arguing that removing them would be risky as well as costly.

The Financial Times reported yesterday that environmental groups had accused Shell of cutting corners to save costs as a public consultation began on the biggest decommissioning project of its kind in the oil industry. The Anglo-Dutch oil major said yesterday that it had submitted plans to the UK government which include removing the upper parts of the group’s four Brent platforms in the North Sea. The company, however, wants to leave behind the concrete legs, as well as 64 subsea storage tanks, and drill cuttings contaminated with oil. read more

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Royal Dutch Shell – Income Investors Should Look Elsewhere

Casey Hoerth: Dec. 14, 2016 11:09 AM ET

Summary

Shell plans on between $25 billion and $30 billion in capex next year, with flexibility to the downside.

I do not expect Shell to achieve cash flow balance in 2016, even with asset sales.

I continue to recommend other energy companies over Royal Dutch Shell, until either oil prices recover more or until Shell does something else to achieve balance.

Over the course of 2016 I haven’t recommended much when it comes buying to upstream or integrated oil companies. The reason was that I felt many still weren’t doing enough to balance their money coming in versus money going out. The CEO of one of my favorite companies, in their latest analyst day, recently quipped that energy companies couldn’t afford to wait to be ‘bailed out’ by higher oil prices. read more

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Hold the champagne

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screen-shot-2016-11-03-at-14-50-16By Ed Crooks, November 4, 2016

If you are looking forward to the oil industry recovery, you shouldn’t break out the champagne just yet.

Over the past eight days, the world’s largest listed oil companies have released third quarter earnings reports. From all of them, the message was that while the worst might be over, they were still facing a long hard road ahead.

The snap reactions from the stock market were mixed: positive for  ChevronRoyal Dutch ShellTotal and ConocoPhillips; negative for ExxonMobilBPEniStatoilPetrochina and Cnooc. read more

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Shell and other oil majors slip down in energy rankings

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Shell and other oil majors slip down in energy rankings

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Written by Rita Brown – 02/10/2016 6:09 pm

Shell was one of a handful of oil majors, which tumbled down the charts for this year’s Platts Top 250 Global Energy Company Rankings.

The survey considers four metrics – revenues, profits, return on invested capital and asset worth.

Shell, Chevron and ConocoPhillips all missed out on top 10 spots.

Shell slid 28 places to 31st on the list, Chevron fell 15 spaces to the 17th and ConocoPhillips tumbled a whopping 122 places, falling from seventh to the 129th spot. read more

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Shell Looking Beyond Petroleum

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There are many players looking to enter the oil markets thanks to the raft of deals available as the oil price crash appears to be over. For the oil majors, this will likely mean major opportunities to snap up unconventional producers and assets at low valuations. One “oil” major that may not be participating is Shell. The Anglo-Dutch oil giant is increasingly turning away from its roots in oil and moving towards natural gas as an alternative.

In the year 2000, 37 percent of Shell’s production was from natural gas. By 2015, that number had risen to 49 percent. For ExxonMobil, those figures were 40 percent in 2000 and 43 percent in 2015. For Chevron and BP, the 2000 figures were 27 percent and 40 percent respectively, and for 2015, it was 33 percent and 38 percent. Among oil majors, only ConocoPhillips has seen a comparable shift to gas going form 33 percent to 43 percent gas production between 2000 and 2015. read more

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Shell CEO sees oil demand up by 1-1.5 mln barrels/day per year

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Screen Shot 2016-07-29 at 16.46.22The CEOs of Shell and ConocoPhillips made the following comments to the ONS oil conference in Stavanger, Norway, on Monday:

* Shell CEO Ben van Beurden says sees increase in oil demand of 1-1.5 million barrels per day per year

* Shell CEO says sees future oil demand more dictated by consumer decisions rather than producers’ decisions

* ConocoPhillips CEO Ryan Lance says carbon price needs to be $100 or more to reach climate target read more

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Is Gas The Future? Shell Seems To Think So

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By Gregory Brew – Jul 20, 2016

The world’s second largest private oil company sees a new future, and it’s not in oil.

Shell has made a concerted effort to shift the bulk of its business from oil-related projects to natural gas, LNG and renewables. Coming on the heels of its February purchase of BG Group (a $54 billion acquisition), Shell has organized a division focused solely on renewable energy. It announced new investment for its LNG facility on Curtis Island in Australia, where natural gas has enjoyed $180 billion in new capital. It has emerged as a stronger voice on global climate change than its competitor ExxonMobil and the company’s website proposes a number of “Shell Scenarios” that could allow for a growing energy market while creating less CO2. read more

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Shell drops legal attempt to extend offshore lease terms in the Arctic

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Screen Shot 2016-06-25 at 10.21.36Shell drops legal attempt to extend offshore lease terms in the Arctic

Author: Yereth Rosen: 24 June 2016

Months after abandoning its plans for oil exploration in Arctic waters off Alaska, Royal Dutch Shell has dropped its legal effort to hold onto those offshore leases.

Shell notified the Interior Department it will no longer pursue its appeals of a decision that denied extension of the company’s oil leases in the Chukchi and Beaufort seas off Alaska. The department’s Board of Land Appeals on Thursday granted Shell’s request and dismissed the case. read more

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Oil Prices and the Brexit: What Just Happened

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IMAGE SOURCE: GETTY IMAGES.

By Matthew Dilallo: 24 June 2016

What: Crude prices tumbled on Friday after Britain’s stunning decision to leave the European Union. By mid-afternoon, oil was down 4.5% and back below $50 a barrel. The sell-off washed over into oil stocks, with British giants BP (NYSE:BP) and Royal Dutch Shell (NYSE:RDS-A)(NYSE:RDS-B) both following crude downward by more than 5% as of 12:30 p.m. EDT.

Those moves, however, were tame compared to the sell-offs of other European oil stocks, with Statoil (NYSE:STO) and Total (NYSE:TOT) down nearly 6% and 9%, respectively. Even large independent U.S. oil companies were taking it on the chin, with ConocoPhillips (NYSE:COP) just one among the many oil stocks sliding in parallel with the price of crude. read more

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Chevron Corporation: Another Day, Another Attack In Nigeria

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Shell, ConocoPhillips and Total are also considering to divest their assets in the Niger Delta.

By Micheal Kaufman: Jun 1, 2016

Operations of international oil & gas companies seem to be in a lot of trouble in Nigeria as militant activities have accelerated in the past few weeks. The militant group, Niger Delta Avengers, has again targeted a Chevron Corporation (NYSE:CVX) facility today, pressurizing it to leave the impoverished area. This is the fourth attack on a Chevron facility in Africa’s biggest economy.

The militant group said on Twitter that it blew up the energy company’s RMP 23 and RMP 24 crude oil wells in the Niger Delta at 3:44 AM. According to the Niger Delta Avengers, these two wells are Chevron’s largest oil producing wells. read more

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BP, Shell among bidders to run Qatar oil field – sources

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DOHA | BY TOM FINNBusiness | Wed May 25, 2016 5:20pm BST

Six international oil firms including BP and Royal Dutch Shell Plc have bid to operate Qatar’s largest offshore oil field, two people with knowledge of the matter told Reuters.

The other bidders are the field’s current operator Maersk, as well as Total SA, Chevron Corp and ConocoPhillips, said the people who spoke on condition of anonymity as the information was private.

The people said state-owned Qatar Petroleum (QP) would award the contract for the oil field, which is 80 kilometres (50 miles) off Qatar’s coast and currently produces around 300,000 barrels per day (bpd), in the second half of the year. read more

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Canadian Crude Prices Surge as Fire Hits Shell, Suncor Output

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  • Oil-sands output may be down by 1 million barrels a day: RBC

  • Suncor, Shell, Husky, ConocoPhillips cut production amid blaze

By Robert Tuttle and Rebecca Penty: May 6, 2016

The worst wildfire in Alberta history is boosting Canadian crude prices as oil companies evacuate workers and shut in as much as 1 million barrels a day of output.

Western Canadian Select, the benchmark for oil sands production, strengthened $1 to an $11.85-a-barrel discount to U.S. West Texas Intermediate on Thursday, the narrowest spread since July, data compiled by Bloomberg show. The absolute price rose $1.54 to $32.47 a barrel.

Suncor Energy Inc., Royal Dutch Shell Plc and Husky Energy Inc. are among companies that shut plants or reduced production. Cnooc Ltd.’s Nexen, ConocoPhillips, Imperial Oil Ltd. and Statoil ASA were also affected. The shutdowns follow supply disruptions in places like Nigeria and Iraq earlier this year that have helped global prices rebound from a 12-year low. read more

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Shell Seen as Best Oil Major Wager by Analysts After BG Deal

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Screen Shot 2016-02-17 at 08.47.47By Rakteem Katakey: Bloomberg.comMarch 9, 2016

Ben Van Beurden staked his reputation on Royal Dutch Shell Plc’s $53 billion acquisition of BG Group Plc as crude slumped. Analysts are rewarding the chief executive officer by putting the enlarged company in pole position to exploit a market upturn. 

Shell’s shares will rise about 12.2 percent in the next 12 months, the most among the world’s six biggest non-state oil companies, according to the target prices of analysts compiled by Bloomberg. More than 65 percent of analysts who cover Europe’s largest oil producer recommend buying the stock, the highest share among its peers. read more

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For Exxon and Shell, Age of Ultramajors Comes at the Wrong Time

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As oil and gas prices have tumbled, Exxon and Shell have been forced to retreat. With oil barely above $30 a barrel, they’re cutting spending, including some costly, high-risk mega-projects. Photographer: George Osodi/Bloomberg

By Javier Blas: Bloomberg.com: 24 FEB 2016

Despite their size, both companies suffering with cheap oil

Exxon and Shell cutting spending as fast as everyone else

Screen Shot 2016-02-24 at 07.54.19This may not be the best time to be bigger than big.

The $64 billion tie-up of Royal Dutch Shell Plc with BG Group Plc and the steady growth of Exxon Mobil Corp. are creating a new league of two: the ultramajors. Executives at smaller companies are even starting to joke that Chevron Corp., Total SA, BP Plc, ConocoPhillips and ENI SpA are merely the mid-cap sector of Big Oil. read more

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Shell expects its Brazil output to quadruple by 2020: CEO

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RIO DE JANEIRO | BY JEB BLOUNT AND MARTA NOGUEIRA: Mon Feb 15, 2016

Royal Dutch Shell (RDSa.L), Europe’s largest oil company, expects to make robust investments in Brazil’s offshore resources, hoping to quadruple oil and gas output there by the end of the decade, its chief executive officer said on Monday.

CEO Ben van Beurden spoke in Brazil shortly after Shell’s $52 billion takeover of BG Group Plc BG.L, approved in late January, took effect.

Thanks to BG’s large portfolio of assets in Brazil and Shell’s decision to buy 20 percent of the giant Libra offshore project in 2013, Brazil will be a key area for the Anglo-Dutch company as it focuses on liquefied natural gas and deepwater oil production, van Beurden said. read more

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As Big Oil shrinks, boards plot different paths out of crisis

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Screen Shot 2016-02-07 at 09.14.51* Companies seek to safeguard growth for when market recovers

* U.S. firms abandon deepwater projects for shale oil fields

* Britain’s BP bets on Egyptian gas, Shell on major acquisition

By Ron Bousso and Terry Wade

LONDON/HOUSTON, Feb 7 As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis.

Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world’s top oil companies reporting sharp declines in profits in recent days.

Executives at energy firms face a tough balancing act: they must cut spending to stay financially afloat while preserving the production infrastructure and capacity that will allow them to compete and grow when the market recovers. read more

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OPEC Won’t Cut Drilling, and Prices Plunge 5%

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By CLIFFORD KRAUSSA version of this article appears in print on December 8, 2015, on page B1 of the New York edition

HOUSTON — Crude oil prices slid a further 5 percent on Monday to fall to their lowest levels since the 2009 global recession, pummeled by the fading chance that Saudi Arabia would cut production to halt the commodity’s yearlong slide.

In only 16 months global oil prices have collapsed from over $110 a barrel to less than half that, and the oil industry in the United States and around the world is reeling from its worst crisis since the late 1990s. On Monday, the American benchmark broke the $38-a-barrel mark, a price that makes drilling and completing wells a losing proposition in almost all oil fields around the country. read more

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Even as it walks away from Arctic drilling, Shell keeps door open for future work

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Screen Shot 2015-10-05 at 14.03.31Posted on October 29, 2015 | By Jennifer A. Dlouhy

WASHINGTON — Shell is walking away from oil exploration in Arctic waters north of Alaska, but it isn’t ready to close the door completely.

Disappointing results from a critical test well at the company’s Burger prospect in the Chukchi Sea, combined with the high costs of developing the region and an “unpredictable regulatory environment” have prompted Royal Dutch Shell “to cease further exploration activity offshore Alaska for the foreseeable future,” CEO Ben van Beurden told reporters Thursday. read more

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