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Houston, We Have A Problem. Oil Reserves Have Fallen Below 10 Years

Houston, We Have A Problem. Oil Reserves Have Fallen Below 10 Years

Tim TreadgoldAsia: Apr 12, 2021

Big oil has a big problem. It’s running out of oil.

Years of under-investment in exploration and a decline in project development has blown a hole in the reserves of the major international oil companies (IOCs), a group that includes ExxonMobil, Chevron and Royal Dutch Shell.

Since 2015 the average reserves of the oil majors has fallen by 25% to now stand at less than 10 years of annual production.

Reserves in the ground is a critical measure of an oil company with a decline seen as a negative by investors. read more

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Shell To Tie Executive Bonus Pays With Energy Transition Goals

Shell To Tie Executive Bonus Pays With Energy Transition Goals

By Tsvetana Paraskova – Mar 29, 2021, 11:30 AM CDT

Oil and gas supermajor Shell is set to tie the bonuses for its top executive directors more closely to the group’s performance in reaching its net-zero goals, if shareholders approve the plan at the annual general meeting in May, Reuters reported on Monday.

Two years ago, Shell became the first supermajor to set short-term emission reduction targets and link these targets with executive pay, yielding to growing investor pressure about establishing short-term emission goals. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

North Sea oil and gas minnow wins vote of confidence from Shell

North Sea oil and gas minnow wins vote of confidence from Shell

By Mark Williamson 

Group Business Correspondent

NORTH Sea oil and gas minnow Deltic Energy has seen its shares rise around eight per cent after the company won a fresh vote of confidence from the mighty Royal Dutch Shell.

Shell has decided to go ahead with a plan to drill a well with Deltic, on a prospect that has generated lots of excitement.

The companies have confirmed to the North Sea regulator that they have made a firm commitment to drill a well on the Pensacola prospect, which is set for next year. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

OPL 245: Italy Ruling Can’t Save Oil Giants

Malabu Deal: Italy Ruling Can’t Save Oil Giants From Trial, Group Writes Buhari

The Milan Tribunal ruled on March 17, 2021, that the 13 defendants in OPL 245 international corruption trial had no case to answer. But there are prospects of an appeal in Italy.

BY SAHARAREPORTERS, NEW YORKMAR 28, 2021

The partial freedom granted oil giants by Italian courts in the celebrated OPL 245 corruption case will not stop the prosecution of the accused in Nigeria, a foremost global anti-corruption coalition has said.

In a letter addressed to President Muhammadu Buhari, the anti-corruption coalition said Nigeria should press on with the corruption charges and should not be cowed by any bully tactics of the oil giants who may see the Italy ruling as a shield. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Chevron eyes deal for Shell oil refinery in Pacific Northwest -sources

Chevron eyes deal for Shell oil refinery in Pacific Northwest -sources

HOUSTON, March 26 (Reuters) – Chevron Corp has emerged as a leading contender to buy a Royal Dutch Shell Plc refinery in the U.S. Pacific Northwest, three people familiar with the matter said on Friday.

Shell has been trying to sell its 145,000 barrel-per-day (bpd) Puget Sound refinery in Anacortes, Washington, for at least a year. Reuters reported in January 2020 that the refinery was for sale. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Nigeria Bribery Case Ends In Victory For Shell, Eni

Nigeria Bribery Case Ends In Victory For Shell, Eni

An Italian court has ruled that oil giants Royal Dutch Shell PLC and Eni SPA are not guilty in a bribery case involving a Nigerian oilfield that has spanned years, according to the Wall Street Journal.

Shell, Eni, and Eni’s CEO Claudio Descalzi, have been on trial for years in the infamous OPL 245 case. Shell, Eni, Descalzi, and others, were accused of knowing that more than $1.1 billion of the $1.3 billion deposited a decade ago into an escrow account controlled by the Nigerian government would eventually be used as bribes to secure oil drilling rights. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Timeline: Nigeria’s OPL 245 oilfield licence bribery cases

Timeline: Nigeria’s OPL 245 oilfield licence bribery cases

LONDON (Reuters) – An Italian court acquitted Royal Dutch Shell and Italy’s Eni on Wednesday of corruption in one of the oil industry’s biggest court cases centred around the acquisition of a Nigerian oilfield in 2011.

Italian prosecutors alleged that most of the $1.3 billion purchase price for the licence for the offshore oilfield known as OPL 245 was siphoned off to politicians and middlemen. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil company on trial in $1.1bn corruption case given access to top EU officials to lobby for gas

Oil company on trial in $1.1bn corruption case given access to top EU officials to lobby for gas

Eni holds six European Parliament passes – more than any other oil and gas company, report finds

Ben Chapman: @b_c_chapman: 16 March 2021

An Italian energy giant on trial in a $1.1bn (£790m) bribery and corruption case has been granted privileged access to senior EU officials to lobby for fossil fuel investment, an investigation has found.

Eni and its chief executive Claudio Descalzi are on trial alongside Royal Dutch Shell in connection to a deal for one of Nigeria’s most promising oil blocks. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Goldman Sachs board nominates Royal Dutch Shell CFO for director role

Goldman Sachs board nominates Royal Dutch Shell CFO for director role

By Elizabeth Dilts Marshall: ·

NEW YORK, March 15 (Reuters) – Goldman Sachs Group Inc’s board of directors on Monday nominated the chief financial officer of Royal Dutch Shell plc to become its newest member.

If her appointment is approved by shareholders, Jessica Uhl will be the fifth woman director on Goldman’s board and its only member to come from the fossil fuel industry.

The bank has backed away from fossil fuel development in recent years. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Andrew Mackenzie selected as chairman of Shell

Andrew Mackenzie selected as chairman of Shell

Former CEO of BHP will succeed Chad Holliday after six years in the position.

March 12, 2021

Royal Dutch Shell announced the appointment of Andrew Mackenzie as the new chairman with effect from the conclusion of Shell’s 2021 Annual General Meeting on May 18.

Mackencie will succeed Chad Holliday who will step down after six years as chairman and board director since September 2010.

Andrew Mackenzie, a British national, joined Shell’s Board in October 2020, after a distinguished career in the energy, petrochemicals and resources sector, latterly as Group CEO of BHP from 2013 to 2019. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell mulls sale of non-operated assets in Malaysia

Shell mulls sale of non-operated assets in Malaysia

By Reuters Staff: March 13, 2021

KUALA LUMPUR, March 13 (Reuters) – Royal Dutch Shell PLC’s Malaysia unit said it is considering selling its stakes in two production-sharing contracts it does not operate off the coast of Sarawak state.

In a statement on Friday, Shell Malaysia said the decision to consider divestment options is part of Shell Group’s strategy to focus and increase resilience and competitiveness in its upstream business.

The Baram Delta EOR and the SK307 production-sharing contracts are operated by Petronas Carigali Sdn Bhd, a unit of state energy firm Petronas. Sarawak Shell Berhad owns a 40% equity interest in Baram Delta and 50% in SK307, with Petronas Carigali holding the remainder. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s oil trading earnings double in 2020 to $2.6 bln

Shell’s oil trading earnings double in 2020 to $2.6 bln

LONDON, March 12 (Reuters) – Royal Dutch Shell’s 2020 earnings from crude oil and refined products trading nearly doubled from the previous year to $2.6 billion, according to the company’s annual report.

Reporting by Ron Bousso; Editing by Edmund Blair

SOURCE

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Court declines to unfreeze Shell’s bank accounts in alleged oil diversion case

Court declines to unfreeze Shell’s bank accounts in alleged oil diversion case

By Joseph Onyekwere: 10 March 2021 Justice Oluremi Oguntoyinbo of Federal High Court, Lagos, yesterday, declined to vacate her interim Mareva injunction directing 20 banks to block accounts of Shell Petroleum Development Company of Nigeria (SPDC) and its subsidiaries.

The judge also summoned three of the banks’ secretaries and chief financial officers for allegedly disobeying the order made on January 25, 2021.

The court ordered the alleged contemnors to appear before it on the next adjourned date of March 29, 2021.

Justice Oguntoyinbo warned that their failure to appear would result in a warrant for their arrest.

The judge made the order in her ruling on three applications in a suit marked FHC/L/CS/52/2021, filed by Aiteo Eastern E&P Company Ltd against SPDC and four others. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell pushes back Deer Park, Texas, refinery restart to March 13 – sources

Shell pushes back Deer Park, Texas, refinery restart to March 13 – sources

Mon, 8 March 2021

HOUSTON (Reuters) – Royal Dutch Shell Plc pushed back the restart of its 318,000 barrel-per-day (bpd) joint-venture Deer Park, Texas, refinery to March 13, said sources familiar with plant operations on Monday.

Shell spokesman Curtis Smith declined comment.

Shell had planned to restart the 270,000-bpd DU-2 crude distillation unit (CDU), the largest at the refinery, by early this week, the sources said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Big Oil Clashes Over Fossil Fuel Future

Big Oil Clashes Over Fossil Fuel Future

By Charles Kennedy – Mar 02, 2021, 9:00 AM CST

Executives from major oil companies clashed over the prospects of oil and gas for the future at the first virtual edition of the CERAWeek conference in Houston.

While BP’s Bernard Looney and Shell’s Ben van Beurden boasted about their shift away from their core business and into renewable energy, Baker Hughes, Hess Corp., and Spain’s Repsol were among those believing that fossil fuels have yet to leave the scene for good, the Houston Chronicle’s Paul Takahashi reports. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions

Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions

Wed., March 3, 2021, 9:15 p.m.

CALGARY — The president and country head for Shell Canada says its transition into a provider of cleaner energy is being driven by a network of “agile teams” of employees who are examining between 30 and 40 project ideas at a time.

Michael Crothers says the teams formed from employees brought in from various parts of the company are looking at proposals that include the use of hydrogen, biofuels, and wind and solar energy to help the company reduce its environmental impact. read more

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Shell Energy to take part in renewable, gas-based power value chain for grid stability

Shell Energy to take part in renewable, gas-based power value chain for grid stability

By: March 3, 2021 8:48 AM Shell Energy Asia plans to participate in the power value chain in India to resolve the issues of renewable intermittency by using the idle gas-based power assets. The LNG supplier is working with the government and regulators in various geographies to achieve a connection between the renewable plus gas-based power generation for maximum cost and environment benefits, even as it promises to provide round-the-clock (RTC) electricity to the government.

Shell, one of the largest oil and gas explorer and supplier, sees natural gas as the most suitable alternative to bundle with renewables to meet the grid intermittency challenge during night or when sun is not visible. Bundling natural gas with renewables will allow unhindered power generation for anytime of the day or night.

Ajay Shah, VP, Shell Energy Asia, told FE that Shell through its global pronouncements has expressed its aspirations to participate in the power or electricity value chain and form partnerships on the renewables and gas. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell delays US offshore production start ups

 

Shell delays US offshore production start ups

Published date: 22 February 2021 Shell has delayed the startup of the PowerNap and Vito deepwater projects in the US Gulf of Mexico because of Covid-19-related issues.

The first oil date for PowerNap has been delayed to early 2022, and the first oil date for Vito has been delayed to 2022, the company said. Both were expected to start up late this year to coincide with an expansion of the Mars offshore crude pipeline system.

“Covid-19-related delays, including reductions in personnel and the impacts of Covid-19 barriers on day-to-day working, have impacted project timelines,” Shell said.

Vito is expected to reach peak production of about 100,000 b/d of oil equivalent (boe/d) and PowerNap is expected to have a peak capacity of 35,000 boe/d. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

With oil past peak, Shell sharpens 2050 zero emissions goal

By Ron Bousso and Shadia Nasralla

LONDON (Reuters) – Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as its oil output declines from a 2019 peak.

The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in the face of growing investor pressure on the oil and gas sector to battle climate change.

Shell last year laid out a plan to reach net zero by 2050, in line with the Paris climate agreement and European Union ambitions, but it said the goal depended on its customers. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Canada’s Crescent Point to buy Shell’s Kaybob assets for C$900 mln

Canada’s Crescent Point to buy Shell’s Kaybob assets for C$900 mln

Feb 17 (Reuters) – Canadian oil and gas producer Crescent Point Energy Corp said it has agreed to buy Kaybob Duvernay assets in Alberta from oil major Royal Dutch Shell’s unit for C$900 million ($708.77 million). ($1 = 1.2698 Canadian dollars) (Reporting by Rithika Krishna in Bengaluru; Editing by Bernard Orr) SOURCE
royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Shuts Down 310,000 Bpd Deer Park Refinery

Shell Shuts Down 310,000 Bpd Deer Park Refinery

By Charles Kennedy – Feb 15, 2021, 9:30 AM CST

Shell has shut down the crude distillation units of its Deer Park refinery due to a malfunction, Reuters has reported, citing unnamed sources familiar with the matter.

The two crude distillation units have a combined capacity of 310,000 barrels of oil daily. According to the Reuters sources, they were shut down after a seal failed on a pump that feeds crude to other units at the refinery. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

U.K. High Court Says Nigerians Can Sue Shell in Britain Over Oil Spills

U.K. High Court Says Nigerians Can Sue Shell in Britain Over Oil Spills

The Dutch energy company has a presence in Britain, and a judge ruled there was “a real issue to be tried.”

Stanley Reed

: Feb. 12, 2021

LONDON — Britain’s Supreme Court said Friday that a group of about 50,000 Nigerian farmers and fishermen could bring a case in London’s High Court against Royal Dutch Shell over years of oil spills in the Niger Delta that have polluted their land, wells and waterways.

The judges said there was the potential that a parent company like Shell, which has its headquarters in the Netherlands but a large British presence, has responsibility for the activities of subsidiaries like the Shell Petroleum Development Company of Nigeria, which operates in the delta region. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Nigerians Can Sue Shell in U.K. Over Spills, Top Court Says

Nigerians Can Sue Shell in U.K. Over Spills, Top Court Says

Bloomberg News: William Clowes: Publishing date: Feb 12, 2021

(Bloomberg) — Thousands of Nigerians can sue Royal Dutch Shell Plc in London over environmental damage in the West African nation, the U.K.’s top court said.

The Supreme Court on Friday reversed two earlier rulings that blocked the case from being heard in England. The decision could pave the way for similar claims from the developing world against British companies.

The ruling is the second legal setback for Shell, headquartered in The Hague, in recent weeks after a Dutch court ordered the company’s Nigerian subsidiary to pay compensation for spills that occurred more than 13 years ago. The prospect of more lawsuits in Europe comes at a bad time for the company as it outlines its plans to transition to cleaner energy.The residents of fishing and farming communities in the crude-rich Niger Delta region say oil spills from pipelines operated by Shell’s local unit have destroyed their land and livelihoods. More than five years after filing their lawsuit, the roughly 42,000 individuals represented will be allowed a trial where they can try to persuade a U.K. court to order the energy giant to pay compensation and clean up the pollution.

Force Rethink?

The decision may force other U.K. multinationals to rethink how they operate abroad, says lawyer Rick Munro. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell pays $191K fine for 2015 refinery incident

Shell pays $191K fine for 2015 refinery incident

11 Feb 2021

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

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

During refinery maintenance on Feb. 20, 2015, several operating procedures were violated, resulting in the release of about 700 pounds of pollutants. Hydrogen sulfide, dimethyl sulfide, mercaptans, pyrophoric iron and benzene were released over a period of more than three hours. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell to expand gas business despite pledge to speed up net zero carbon drive

 

Jillian Ambrose: Thu 11 Feb 2021 09.40 GMT

Shell has set new carbon emissions goals to become a net zero carbon energy company by 2050, but will continue to grow its gas business by more than 20% in the next few years.

Shell’s goal is to be net zero carbon company within 30 years, including the emissions from burning its fossil fuels. But the plans have raised concerns among green campaigners that Shell may still increase its emissions in the coming decade, which is considered a crucial period to avoid a climate catastrophe. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

How Biden should meet his promise to cut fossil fuel emissions

How Biden should meet his promise to cut fossil fuel emissions

Full power of US Clean Air Act must be used to cut oil and gas sector’s methane output 9 FEB 2021 Extracts

It is clear, however, that the oil and gas sector’s concerns over methane emissions have reached a breaking point.

The industry’s shift follows decades of climate denial and obfuscation. The industry eventually turned to voluntary commitments such as the Oil and Gas Climate Initiative, insisting they would suffice in place of the force of law. But under immense investor and public pressure, some of the oil majors, including BP, Shell, ExxonMobil, Total, and Equinor, have now publicly announced support for government regulation of methane pollution read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

Hedge funds bet on oil’s ‘big comeback’ after pandemic hobbles producers

FILE PHOTO: A combination of file photos shows the logos of five of the largest publicly traded oil companies; BP, Chevron, Exxon Mobil, Royal Dutch Shell, and Total. REUTERS/File Photo

TORONTO (Reuters) – Hedge funds are turning bullish on oil once again, betting the pandemic and investors’ environmental focus has severely damaged companies’ ability to ramp up production. read more

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Nigeria negotiates terms with Big Oil to keep investments

Nigeria negotiates terms with Big Oil to keep investments

LAGOS (Reuters) – Nigeria’s state oil company is renegotiating commercial contract terms with major oil firms, its chief told Reuters, in a move that it hopes will keep investment flowing into a sector crucial for its economy at a time when spending is being slashed.

Africa’s largest oil exporter and biggest economy relies on the oil sector for half of its budget and 90% of its foreign exchange. It wants to raise revenue but also attract investment. read more

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Shell May Re-evaluate Oil Operations Onshore Nigeria

Shell May Re-evaluate Oil Operations Onshore Nigeria

By Charles Kennedy – Feb 05, 2021, 1:30 PM CST

Persistent issues with theft and sabotage in the Niger Delta could prompt Shell to take a hard look at its operations onshore Nigeria, the supermajor’s chief executive Ben van Beurden said this week.

“Our onshore oil position, despite all the efforts we put in against theft and sabotage, is under challenge,” van Beurden told reporters, as carried by Reuters, after Shell reported another set of weak Big Oil results affected by the pandemic. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil giant Shell follows rivals into huge loss

Oil giant Shell follows rivals into huge loss

“2020 was an extraordinary year,” said Chief Executive Ben van Beurden. “We have taken tough but decisive actions,” he said, with Shell having already announced plans to axe up to 9,000 jobs, or more than 10 percent of its global workforce.

Published on: Friday, February 05, 2021: By AFP

LONDON: Royal Dutch Shell on Thursday became the latest oil major to reveal huge annual losses as the coronavirus pandemic slashed energy demand and prices in 2020.

Shell dived into a net loss of $21.7 billion (18.1 billion euros) last year as factories shut and planes were grounded. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell makes record loss in 2020 after more write-offs

Shell makes record loss in 2020 after more write-offs

Published date: 04 February 2021

Shell posted a record loss in 2020 after it booked more hefty write-offs in the fourth quarter.

Excluding inventory effects, Shell made a loss of $4.48bn in the October-December period, compared with a profit of $871mn a year earlier. The quarterly loss was largely driven by pre-announced, non-cash post-tax impairment charges of $2.7bn and charges of $1.1bn mainly for “onerous contract provisions”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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

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

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

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

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

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Court orders Shell to pay Nigeria farmers for oil pollution

Court orders Shell to pay Nigeria farmers for oil pollution

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

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

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

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

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

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Is Back in Court for Nigeria Oil Spills Liability Ruling

Shell Is Back in Court for Nigeria Oil Spills Liability Ruling

Bloomberg News: Laura Hurst and Diederik Baazil: Jan 29, 2021

(Bloomberg) — Royal Dutch Shell Plc faces the latest ruling in a long-running legal dispute with Nigerian farmers who say the energy giant is responsible for oil leaks that have polluted their villages.

The case is the first in which a company and its foreign subsidiary have been tried in the Netherlands for allegedly breaching duty of care abroad, and it could have far-reaching implications for future suits brought against oil firms. read more

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Research on external factors (suppliers, customers, competition, environment, etc) influencing Royal Dutch Shell

AskWonder.com: Research on external factors (suppliers, customers, competition, environment, etc) that are influencing Royal Dutch Shell at the moment. Delivered January 30th, 2017.

Links to royaldutchshellplc.com and royaldutchshellgroup.com as reference sources.

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Aberdeen job cuts loom as Shell retrenches in North Sea

Aberdeen job cuts loom as Shell retrenches in North Sea

By Mark Williamson : Group Business Correspondent

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

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

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

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

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

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

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

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

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

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

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

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

Jan. 05, 2021

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

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

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Fuel for Thought: Singapore looks to next energy transition, this time away from oil

Fuel for Thought: Singapore looks to next energy transition, this time away from oil

Eric Yep: 29 December 2020

SHELL RELATED EXTRACTS

Shell, which started out as M. Samuel & Co. and built the first fuel depot in Singapore in the 1890s, said in November it was shutting half of its refining capacity on Singapore’s Pulau Bukom island, a move signaling the start of one era and the beginning of another for the energy hub.

Shell said Pulau Bukom will become one of its roughly six energy and chemicals parks and part of a “pivot from a crude-oil, fuels-based product slate towards new low-carbon value chains.” read more

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Shell details its layoff of hundreds at Convent site in 2021; full shutdown set for August

Shell details its layoff of hundreds at Convent site in 2021; full shutdown set for August

Shell plans to begin layoffs for nearly 700 workers in March at its Convent oil refinery, which it expects to fully shut down in August.

The Louisiana subsidiary of Royal Dutch Shell, Equilon Enterprises LLC, previously had announced layoffs but has now filed an official notice with the Louisiana Workforce Commission outlining its plans. 

Shell looks to lay off all 698 workers at the refinery, 340 of whom are represented by a union, according to the letter. read more

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Shell Nigeria oil site seized over unpaid damages

Shell Nigeria oil site seized over unpaid damages

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

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

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

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

    By Reuters Staff: DECEMBER 21, 2020

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

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

    SOURCE

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    Layoffs at shuttered Shell Convent, Louisiana, refinery to begin in late Feb -sources

    Layoffs at shuttered Shell Convent, Louisiana, refinery to begin in late Feb -sources

    By Reuters Staff: DECEMBER 18, 2020

    HOUSTON (Reuters) -Layoffs of hourly workers at Royal Dutch Shell Plc’s shuttered Convent, Louisiana, refinery are scheduled to begin on the last day of February, said sources familiar with plant operations.

    The next round of layoffs is scheduled for March 31, the sources said.

    A Shell spokesman did not reply to a request for comment.

    About 350 hourly workers will leave jobs they have performed for years at the 211,146 barrel-per-day (bpd) refinery located 46 miles (74 km) west of New Orleans. read more

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

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

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

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

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

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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

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

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

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

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

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

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    Shell Nigeria Employees Vandalize Oil Pipelines

    Shell Nigeria Employees Vandalize Oil Pipelines

    By Charles Kennedy – Dec 10, 2020, 9:30 AM CST

    Employees of Shell’s Nigeria subsidiary SPDC ordered the deliberate vandalization of oil pipelines to profit from them, according to a Dutch TV documentary, done in partnership with environmentalist organization Milieudefensie.

    Aljazeera reports that the program, to be aired today, cites witnesses who said pipeline leaks were caused by SPDC employees.

    “According to sources, Shell employees profit from these intentional oil leaks by pocketing money from clean up budgets,” the program, Zembla, said. read more

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    World’s top oil trader retiring from Shell

    World’s top oil trader retiring from Shell

    Javier Blas and Laura Hurst, Bloomberg News: 9 Dec 2020

    Royal Dutch Shell Plc is shaking up its mighty in-house trading unit, with the retirement of Mark Quartermain as head of crude — a job widely seen as the most powerful in the global oil-trading industry.

    The Anglo-Dutch oil major used the reshuffle to promote at least three women to top positions in trading, a rarity for an industry still dominated by men.

    Quartermain will retire in the summer of 2021, less than four years after taking the job, having led the team through one of the most turbulent and profitable periods in history. He will be replaced by Stacie Pitts, who becomes the most influential woman in the oil-trading business. read more

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    Malabu: Eni gets green light to subpoena companies over Nigerian litigation arrangement

    Malabu: Eni gets green light to subpoena companies over Nigerian litigation arrangement

    The Malabu scandal involves the transfer of about $1.1 billion by oil multinationals, Shell and ENI, through the Nigerian government to accounts controlled by a former Nigerian oil minister, Dan Etete.

    By Oladeinde Olawoyin: December 8, 2020

    Italian oil giant, Eni S.P.A, has been granted approval to subpoena asset recovery and litigation finance companies that it accused of being involved in a shady deal to fund litigation relating to Nigeria’s OPL 245 scandal in Italy. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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

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

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

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

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    Oil majors wipe $80 billion off books as epidemic, energy transition bite

    Oil majors wipe $80 billion off books as epidemic, energy transition bite

    By Ron Bousso:

    By Ron Bousso

    LONDON (Reuters) – The world’s top energy companies have slashed the value of their oil and gas assets by around $80 billion (60.05 billion pounds) in recent months after revising lower the long-term outlook for fuel prices in the wake of the coronavirus epidemic and the energy transition.

    Exxon Mobil, the largest U.S. oil company, announced on Monday it would write down the value of natural gas properties by $17 billion to $20 billion, its biggest ever impairment following the sharp drop in energy prices this year. read more

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