Shell reported record earnings for the second consecutive quarter on Thursday, as the energy giant continues to prosper from high oil and gas prices spurred by the war in Ukraine and other factors.
Shell, Europe’s largest energy company, said adjusted earnings were $11.5 billion for the second quarter. The figure topped Shell’s previous record of $9.1 billion in the first quarter.read more
Russia is moving to take over an important natural gas joint venture, putting the investments of Shell and two Japanese trading companies, Mitsui and Mitsubishi, at risk.
A decree issued by President Vladimir V. Putin on Thursday said the project, called Sakhalin-2, which is on Sakhalin Island in Russia’s Far East and is a key exporter of fuel to Japan, would be taken over by a new company.read more
HOUSTON — Shell said on Tuesday that it would begin selling electricity generated from renewable sources to residents and businesses in Texas, a move that brings the European oil company’s shift to green energy to the U.S. market.
The announcement underscores a widening gulf between the strategies of European and U.S. oil companies as elected leaders and consumers demand that the energy industry do more to tackle climate change. European businesses including Shell, BP and TotalEnergies are seeking to expand into renewable energy, electric vehicle charging and other fast-growing businesses as U.S. companies like Exxon Mobil and Chevron mostly keep their focus on oil and gas while investing in capturing carbon from industrial plants and biofuels.
Shell, which already has electricity businesses in nine countries, plans to double the amount of electricity it sells by 2030. The company, which is based in London, is Europe’s largest oil and gas business by revenue and has operations in more than 70 countries, including gas stations, refineries and oil and gas fields.read more
May 11th, 2022
by John Donovan.
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The New York Times
Oil Giants Sell Dirty Wells to Buyers With Looser Climate Goals, Study Finds
The transactions can help major oil and gas companies clean up their own production by transferring polluting assets to a different firm, the analysis said.
When Royal Dutch Shell sold off its stake in the Umuechem oil field in Nigeria last year, it was, on paper, a step forward for the company’s climate ambitions: Shell could clean up its holdings, raise money to invest in cleaner technologies, and move toward its goal of net zero emissions by 2050.read more
Apr 7th, 2022
by John Donovan.
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The New York Times
Shell says it expects to lose up to $5 billion for pulling out of Russia.
In an update to investors, the oil company projected a huge financial hit from its exposure to Russia.
By Marie Solis and Jason Karaian: April 7, 2022, 8:09 a.m. ET
The British oil giant Shell said on Thursday that its decision to pull out of its projects in Russia will slash its quarterly profit by $4 billion to $5 billion.
The estimate, detailed in an update to Shell shareholders, is among the largest publicly announced financial hits by any of the hundreds of companies that have curtailed their operations in Russia or withdrawn entirely since its invasion of Ukraine.read more
Royal Dutch Shell said Thursday that it had decided not to invest in a British oil development off the coast of Scotland that has become a test of the government’s environmental credentials.
The field, known as Cambo, is in deep water northwest of the Shetland Islands. It is seen as a bellwether for the future of Britain’s declining but still large North Sea oil industry.
The British government is considering whether to approve the project, which environmental groups and some politicians have said should be rejected because it would produce carbon dioxide emissions responsible for climate change.read more
HOUSTON — Royal Dutch Shell sold its oil and gas production in the Permian Basin, the biggest American oil field, to ConocoPhillips for $9.5 billion in cash on Monday.
The deal marks a turning point for Shell, which had put considerable effort into developing the 225,000-acre field since buying it from Chesapeake Energy nine years ago, expanding its production to about 200,000 barrels a day.read more
Sep 16th, 2021
by John Donovan.
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The New York Times
House Panel Expands Inquiry Into Climate Disinformation by Oil Giants
Sept. 16, 2021Updated 10:42 a.m. ET
The House Oversight Committee has widened its probe into the oil and gas industry’s role in spreading disinformation about the role of fossil fuels in causing global warming, calling on top executives from Exxon Mobil, Chevron, BP and Royal Dutch Shell, as well as the lobby groups American Petroleum Institute and the United States Chamber of Commerce, to testify before Congress next month.
In letters sent to the industry executives Thursday morning, the committee also requested information, including internal documents and emails on climate policy going back to 2015, related to the companies’ and groups’ efforts to undermine climate policy.read more
Oil companies like Chevron, Shell and Eni have made billions in profits in the vast Niger Delta region in the last decades. But now some are pulling out — and they are leaving utter ruin in their wake, according to government monitors and environmental and human rights organizations. The delicate ecosystem of the Niger Delta, once teeming with plant and animal life, is today one of the most polluted places on the planet.read more
Jul 3rd, 2021
by John Donovan.
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The New York Times
Lawmaker Threatens to Subpoena Exxon After Secret Video
The chairman of a powerful House subcommittee said he is seeking answers from Exxon and other oil and gas giants over their role in spreading disinformation on climate change.
The chairman of a House subcommittee is demanding that executives of Exxon Mobil Corp., Shell, Chevron and other major oil and gas companies testify before Congress about the industry’s decades-long effort to wage disinformation campaigns around climate change.read more
The company’s clean energy investments since 2016 add up to $3.2 billion, Stanley Reed reports for The New York Times, while it has spent about $84 billion on oil and gas exploration and development, according to estimates by Bernstein, a research firm.
“You cannot claim to be in transition when you only invest” such a small percentage of capital in new businesses, said Mark van Baal, founder of Follow This, a Dutch investor activist group.read more
Jun 19th, 2021
by John Donovan.
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THE NEW YORK TIMES
Shell Gets Greener, Even as Climate Advocates Say, ‘Go Faster’
Royal Dutch Shell, though still reliant on profits from fossil fuels, is investing more in renewable energy. Critics say the changes have to come quicker.
Like other oil giants, Shell is under pressure to move away from climate-damaging fossil fuels, and it is recasting itself as more of a renewable energy company, looking for investments as it sidles toward a new future.
Limejump is the type of business that catches the eye of Shell executives these days. With 80 software engineers, traders and forecasters, the company buys electricity from 675 wind farms, solar installations and other mostly renewable generators scattered across Britain, and sells it to businesses that want their energy to be green.read more
Royal Dutch Shell will respond to a recent defeat in a Dutch court by accelerating its efforts to reduce its carbon dioxide emissions, the company’s leader said Wednesday.
Ben van Beurden, the chief executive of Shell, said that he was “disappointed” by the ruling requiring the oil company, Europe’s largest, to move faster in slashing greenhouse gases, but added that the company was planning to do just that.
“For Shell, this ruling does not mean a change but rather an acceleration of our strategy,” Mr. van Beurden said in an article published on LinkedIn. “We will seek ways to reduce emissions even further in a way that remains purposeful and profitable,” he added.read more
For environmentalists, it was a week of victories. For the oil and gas companies they vanquished, as well as Alberta and the other parts of Canada that rely on the energy industry, the week brought new uncertainties.
But environmentalists also dealt a blow to one of those European oil companies, Royal Dutch Shell, this week. A Dutch court ruled that Shell was “obliged” to reduce the carbon dioxide emissions of its activities by 45 percent by the end of 2030, compared with 2019 levels. Shell had already announced a 2050 target for reaching net zero emissions, but the decision, if upheld, will force it to speed up its efforts.read more
May 27th, 2021
by John Donovan.
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THE NEW YORK TIMES
A Dutch court rules that Shell must step up its climate change efforts.
27 June 2021
A Dutch court ruled Wednesday that Royal Dutch Shell, Europe’s largest oil company, must accelerate its efforts to reduce carbon dioxide emissions to tackle climate change.
The District Court in The Hague ruled that Shell was “obliged” to reduce the carbon dioxide emissions of its activities by 45 percent at the end of 2030 compared with 2019.
Shell has already adopted targets for emissions reduction, but the terms of the court’s decision could require the company to substantially accelerate the process of reducing emissions-producing fuels like oil and gas.read more
Shell, in a Turning Point, Says Its Oil Production Has Peaked
Europe’s largest oil and gas producer said oil production would gradually decline 1 or 2 percent annually, underscoring the company’s desire to shift to greener energy.
Royal Dutch Shell on Thursday made the boldest statement among its peers about the waning of the oil age, saying its production reached a high in 2019 and is now likely to gradually decline.
Listen and read proof in audio and transcript form of Shell CEO Ben van Beurden’s cover-up tactics in the OPL 245 Nigerian corruption scandal. The instruction given by him in the covertly recorded call to CFO Simon Henry was at odds with Shell’s claimed core business principles. Cover-up and obstruction, instead of transparency and integrity, says Shell critic John Donovan
JOHN DONOVAN TV DOCUMENTARY INTERVIEW
SHELL EXECUTIVES AT THE CENTER OF A SCHEME TO STEAL $1.3 BILLION FROM NIGERIA’S PEOPLE
SHELL ADMITS DEALING WITH NIGERIAN MONEY LAUNDERER – BBC NEWS
SHELL, ENI AND NIGERIAN OFFICIALS IN OPL 245 CORRUPTION SCANDAL
INVESTIGATION OF OPL 245 NIGERIAN OIL CORRUPTION SCANDAL
DUTCH EARTHQUAKES CAUSED BY SHELL/EXXON
SHELL KILLS FOR OIL IN NIGERIA
ESTHER KIOBEL SUES SHELL FOR COMPLICITY IN HUSBANDS MURDER
ESTHER KIOBEL: EVIL OIL GIANT SHELL COLLUDED IN THE EXECUTION OF MY INNOCENT HUSBAND
SHELL LIED ABOUT CLEANING UP OIL IN NIGER DELTA
SHELL SPIES INFILTRATED NIGERIAN GOVERNMENT
LEGO DROPS SHELL OVER GREENPEACE OIL SPILL VIDEO
SHELL ARCTIC DRILLING ACCIDENTS
SHELL KNEW ABOUT CLIMATE CHANGE DECADES AGO
ABANDONED BY SHELL: KEITH MACDONALD & FAMILY, VICTIMS OF RADIOACTIVE CONTAMINATION AT WORK
ROYAL DUTCH SHELL FOUNDER SIR HENRI DETERDING, NAZI FINANCIER
JOHN DONOVAN PROMOTIONAL GAMES FOR SHELL AND OTHER CLIENTS
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON. EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
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