News and information on Shell Plc
BBC NEWS
Shell’s Jackdaw gas field given go-ahead by regulators
By Justin Rowlatt: Climate editor:
June 1st, 2022
The development of a major North Sea gas field has been approved by regulators.
The Jackdaw field, east of Aberdeen, has the potential to produce 6.5% of Britain’s gas output.
The regulatory approval comes as the UK government seeks to boost domestic energy output following Russia’s invasion of Ukraine.
Shell’s proposals were initially rejected on environmental grounds in October.
Mirror.co.uk
Oil giants’ profits for three months would be enough to give every household £450
Analysis by shadow Climate Change Secretary Ed Miliband shows that Shell and BP made combined profits of £12.37billion in the first quarter of 2022.
By Mikey Smith: Whitehall Correspondent: !4 May 2022Profits made by oil giants in the first three months of this year were enough to give every household £450 towards soaring energy bills.
Analysis by shadow Climate Change Secretary Ed Miliband shows that Shell and BP made combined profits of £12.37billion in the first quarter of 2022.
BBC NEWS
Windfall tax on energy firms still an option
By Simon Jack: Business editor: 11 May 2022
A windfall tax on big oil and gas companies to help tackle the soaring cost of living has not been ruled out, sources close to the chancellor say.
Officials say Rishi Sunak is still open to the idea if firms do not reinvest their bumper profits in the UK.
Current policy is still based on the tax deterring investment in new oil and gas fields and green technologies.
Prime Minister Boris Johnson warned last week it could put future UK energy security at risk.
skynews
Shell reportedly reconsidering decision to pull out of controversial Cambo oilfield development
The energy company halted work on the development in Scotland in December after backlash from campaigners.
: News reporter @Amarjournalist_: Tuesday 22 March 2022 12:35, UKShell is reportedly reconsidering its decision to pull out of the controversial Cambo oilfield development in Scotland.
Work on the oilfield – off the coast of Shetland – was halted in December after the energy company decided to withdraw, stating the economic case for investment “was not strong enough”.
BBC NEWS
Shell sorry and pledges to stop buying Russian oil
Shell has pledged to stop buying oil from Russia as it apologised for its purchase of cheap Russian crude at the weekend.
The energy giant also said it would close all its service stations in the country and stop all current work in the country.
Shell came under huge criticism at the weekend after it purchased a cargo of Russian crude at a discounted price.
Its boss said on Tuesday, however, that it was wrong to buy Russian oil.
“We are acutely aware that our decision last week to purchase a cargo of Russian crude oil… was not the right one and we are sorry,” Mr van Beurden said.
BP to offload stake in Russian oil firm Rosneft
BBC Breaking News: 27 Feb 2022
BP is to offload its 19.75% stake in Russian state-owned oil firm Rosneft after Russia’s “act of aggression in Ukraine”.
The oil giant had come under pressure from the UK government to make the move since Thursday’s invasion.
It has held the shareholding in the Russian company since 2013.
BP chief executive Bernard Looney has resigned “with immediate effect” from the Rosneft board, as has fellow BP-nominated director Bob Dudley.
BBC News:
South Africa court blocks Shell’s oil exploration
28 Dec 2021
A South African court has halted oil giant Shell’s seismic testing for oil and gas along the country’s eastern coastline, pending a final ruling.
The decision has been hailed by environmentalists who fear that the sound blasting will harm marine life.
Shell said it had “paused” operations while it reviewed the judgement.
South Africa’s Energy Minister Gwede Mantashe had condemned the project’s critics, saying they wanted to deprive Africa of energy resources.
BBC NEWS
Cambo: Jobs warning as Shell pulls out of oil field development
3 Dec 2021Business leaders have warned that thousands of oil and gas jobs could be at risk in the UK after Shell pulled out of the Cambo oil field development.
Aberdeen’s Chamber of Commerce said a “premature” end to domestic production could see some areas suffer the fate of mining communities in the 1980s.
Environmentalists say new fossil fuel projects like Cambo are incompatible with action on climate change.
Cambo’s majority stakeholder said it still planned to take it forward.
BBC NEWS
Oil giant Shell says it needs oil to pay for green shift
By Simon Jack Business editor: 4 Nov 2021
The boss of oil giant Shell has insisted it can transition to net zero by 2050, but it will need the cash from its oil and gas business to pay for it.
Ben van Beurden dismissed splitting its legacy oil and gas business from its renewables investment, a move urged by activist shareholder Third Point.
Talking exclusively to the BBC, he said the company’s plans for greener energy could only be funded by oil and gas.
Photo Credit: Photographic Services, Shell International Limited.
BBC News: Sept 1, 2021
Oil giant Shell announced on Wednesday it was aiming to install 50,000 charging points on Britain’s streets by 2025, as part of a government-backed push to increase electric vehicle numbers and reduce carbon emissions to net zero by 2050.
Shell will roll out the charging points through on-street charging point company Ubitricity, which it acquired in February.
The government has estimated that the UK will need between 280,000 and 480,000 charging points by 2030, the year it plans to ban the sale of new petrol and diesel cars.
Wed, 11 August 2021
Oil giant Shell will pay a Nigerian community $111m (£80m) over an oil spill more than 50 years ago.
A spokesman said the payment would mark the “full and final settlement” to the Ejama-Ebubu community over a spill during the 1967-70 Biafran War.
The company has maintained that the damage was caused by third parties.
A Nigerian court fined Shell the equivalent of $41.36m in 2010, but the company launched a number of unsuccessful appeals.
Last year, the country’s Supreme Court said that, with interest, the fine owed by the company was more than ten times greater than the original judgement, although Shell denied this. The case was launched in 1991.
BBC NEWS
Climate change: Courts set for rise in compensation cases
By Matt McGrath Environment correspondent: 28 JUne 2021
There’s likely to be a significant increase in the number of lawsuits brought against fossil fuel companies in the coming years, say researchers.
Their new study finds that to date, lawyers have failed to use the most up-to-date scientific evidence on the cause of rising temperatures.
As a result, there have been few successful claims for compensation.
That could change, say the authors, as evidence linking specific weather events to carbon emissions increases.
Shell promises to accelerate shift to low carbon
The oil giant Shell will reduce its greenhouse gas emissions more quickly than planned following a legal ruling in the Netherlands, its chief executive has promised in a blog post.
The firm would take “some bold but measured steps,” Ben van Beurden wrote.
Environmentalists won a court case in May, arguing Shell was failing to reduce emissions quickly enough.
Mr van Beurden said Shell would appeal against the ruling, but meanwhile he would look at hastening the transition.
Extinction Rebellion: Conditional discharge for Shell protest woman
A climate activist who admitted causing criminal damage to Shell’s London HQ has been given a conditional discharge days after her co-defendants were cleared of the charge.
Katerina Hasapopoulous, 43, glued herself to a door of the building in Belvedere Road on 15 April 2019.
The Extinction Rebellion (XR) member also spray painted the building.
The judge said the sentence would have been “different” had the others been found guilty by a jury.
Over a million UK energy customers who switched providers overcharged
Ovo and Shell were identified as the worst offenders.
More than a million UK energy customers that switched providers could have been overcharged due to errors made by suppliers.
According to Ofgem, the sector’s biggest suppliers made mistakes, including Ovo Energy, Shell, British Gas, E.On, EDF, Npower, Scottish Power, SSE and Octopus.
Ovo and Shell were identified as the worst offenders.
By John Donovan
The BBC recently published an article under the headline: Shell’s legal woes over Nigeria’s oil.
The article listed some of the growing numbers of lawsuits being brought against Shell in multiple legal jurisdictions, all arising from Shell’s deplorable conduct in Nigeria.
The damaging global news coverage reporting on the various court actions seems to have stung Shell’s CEO Ben van Beurden into threatening that Shell may pack its corporate bags and pull out of Nigeria.
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