Posts from ‘June, 2009’

New report from environmental groups exposes Shell’s anti-climate lobbying activities

WASHINGTON – June 29 – Friends of the Earth and Oil Change International released a report today detailing oil giant Shell’s colossal contribution to global climate change and its continued investment in carbon-intensive fossil fuels.

The report also reveals new internal documents that show that Shell knew of the environmental dangers of gas flaring in Nigeria more than fifteen years ago, but chose not to stop for purely financial reasons.

“Shell greenwashes itself as a sustainable company when in reality it is the dirtiest oil producer of all,” said Ben Schreiber of Friends of the Earth. “As evidenced by Shell’s lobbying activities on the flawed climate bill that passed the House last Friday, the company has been instrumental in weakening climate legislation while claiming to care about the environment.” read more

LONDON (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) is on track to become the most carbon intensive international oil company because of its focus on unconventional oil resources like Canadian tar sands, said a study published by a coalition of environmental groups Monday.

BP Plc, Europe’s second-biggest oil company, may post second-quarter earnings that are “more resilient” than bigger rival Royal Dutch Shell Plc because it’s less affected by weak demand for natural gas in Europe, Citigroup Inc. said.

• 'Beyond Petroleum' boast in doubt as clean energy boss quits • Renewables budget will be reduced by up to £550m this year

FINANCIAL TIMES

By Miles Johnson

Published: June 29 2009 11:37 | Last updated: June 29 2009 11:37

Oil prices rose on Monday as the market shrugged off a bearish report from the International Energy Agency, opting instead to focus on news of further attacks on Nigeria’s energy infrastructure by militants.

The IEA, the oil consuming countries’ watchdog, sharply lowered its medium-term forecast for global oil demand, suggesting that economic fundamentals will prevent a repeat of crude’s surge towards $150 last year. read more

The Movement for the Emancipation of the Niger Delta rebel group said they attacked Shell’s Forcados offshore oil facility at 3:30 a.m. local time today.

Oil giant Shell has pulled off a massive coup in Russia after Prime Minister Vladimir Putin yesterday asked the Anglo-Dutch energy company to help develop two huge gas projects on Sakhalin Island in the Russian Pacific.

When Jeroen van der Veer took the helm of Royal Dutch Shell five years ago, the company was mired in an accounting scandal involving its reporting of oil and gas reserves, a flap that nearly ended its century-long independence. Mr. van der Veer revamped Shell’s notoriously complex corporate structure, merged its fractious English and Dutch entities, and eventually restored trust with governments, regulators and investors.

Prime Minister Vladimir Putin offered Royal Dutch Shell a role in the Sakhalin-3 and Sakhalin-4 natural gas projects on Saturday, just 2 1/2 years after Europe's biggest oil producer was forced to cede control of Sakhalin-2 to Gazprom.

Vladimir Putin, Russian prime minister, threw down the welcome mat to Shell, telling the Anglo-Dutch major it could participate in new offshore oil and gas projects and help Russia build LNG tankers to help globalise its gas trade.

In a surprise move, Russian prime minister Vladimir Putin invited Royal Dutch Shell to help develop two new oil and gas fields on Sakhalin Island, just three years after the government forced the company to cede majority control in the Sakhalin 2 project to state-controlled group Gazprom.

The Solitaire, which is being protected by two Irish Navy vessels, is to begin laying the offshore pipeline that will connect the landfall installation at Glengad with the gas field 83km away.