Shell held talks last year with the biggest UK North Sea producer Harbour Energy to sell its oil and gas fields offshore Norway and some mature assets offshore the UK, but a deal ultimately couldn’t be reached due to price volatility, company sources told Reuters on Tuesday.
Shell, as well as other majors, have worked in recent years on streamlining asset portfolios to focus on the most profitable projects. Back in 2021, Shell said that its oil production peaked in 2019 and is set for a continual decline over the next three decades as it looks toward the renewables side of the business. Shell said its carbon dioxide emissions also likely peaked—a year earlier, in 2018.read more
LONDON, Nov 21 (Reuters) – Shell (SHEL.L) said on Monday it will evaluate plans to spend up to 25 billion pounds in Britain over the next decade following the government’s decision to increase a windfall tax on oil and gas producers.
“We’re going to have to evaluate each project on a case by case basis,” said Shell’s UK country chair David Bunch told the Confederation of British Industry’s annual conference in Birmingham. “When you tax more you’re going to have less disposable income in your pocket, less to invest.”read more
Oil and gas titans are set to reap a mammoth taxpayer giveaway of up to £7.5billion despite making record profits.
BP and Shell are among the firms that will benefit from new tax breaks, despite BP boss Bernard Looney comparing his firm to a ‘cash machine’.
Energy giants already receive Treasury incentives to invest in the North Sea, but fresh changes have been ushered in that will turbocharge the subsidies. The plans have been introduced at the same time as the Government’s £5billion ‘windfall tax’ – billed as taxing energy firms to help pay for the cost-of-living crisis.read more
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
Jul 26th, 2022
by John Donovan.
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Shell invests in the Jackdaw gas field in the UK North Sea
Jul 25, 2022
BG International Limited, an affiliate of Shell U.K. Limited, has taken the final investment decision (FID) to develop the Jackdaw gas field in the UK North Sea, following regulatory approval earlier this year. Jackdaw will comprise a wellhead platform that is not permanently attended, along with subsea infrastructure which will tie back to Shell’s existing Shearwater gas hub.
The project is expected to come online in the mid-2020s, and at peak production rates, could represent over 6% of projected UK North Sea gas production in the middle of this decade, with operational emissions of less than 1% of the whole UK basin. That is enough energy to heat 1.4 million homes.read more
Jun 2nd, 2022
by John Donovan.
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THE SCOTSMAN
Campaigners threaten legal action after Jackdaw gas field approved in Scottish waters
Environmental campaigners are threatening legal action in a bid to halt development of the Jackdaw gas field after it was awarded final regulatory approval.
By Katrine Bussey: Thursday, 2nd June 2022, 3:45 pm
Greenpeace insisted that by giving the development the green light, the UK Government had “shown no regard” for emissions or the project’s “ultimate climate impact”.
Ami McCarthy of Greenpeace UK said: “We think that’s unlawful. We’re looking at legal action to stop Jackdaw, and [to] fight this every step of the way.”
Her comments came after UK business and energy secretary Kwasi Kwarteng confirmed Shell had been given the go-ahead for the field, which is situated in waters to the east of Aberdeen.read more
Shell has slammed the government’s windfall tax, saying while it “understands the worry for million” about the cost of living it will creates “uncertainty” about investment.
This follows Chancellor Rishi Sunak announcing a so-called Energy Profits Levy, a 25 per cent surcharge on North Sea oil and gas sector profits, which could last for up to three years.
The Treasury expects the tax will raise around £5bn over the next 12 months – which will help fund a £15bn package to save the country’s most vulnerable households £1,200 this year.
After BP said the tax may force it to reconsider its UK investment plans, Shell is the latest energy giant to come out against the levy.
A spokesperson told City A.M. : “We understand the worry for millions of people about how high energy costs are challenging their household budgets – and the need for support to help make ends meet.”read more
May 28th, 2022
by John Donovan.
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SOURCE MSN/Independent
I worked at Shell for 33 years – the government is wrong on North Sea oil
By Grahame Buss: 27 May 2022
I was a principal scientist for the oil company Shell, for which I worked for 33 years. I have a degree in aeronautical engineering and a PhD in fluid mechanics.
I recently read a letter from the business and energy secretary, Kwasi Kwarteng, in which he tries to justify government plans to encourage investment in new North Sea oil and gas. He says it would “protect Britain’s energy security” and smooth the “transition to cheap, clean, home-grown energy”, as well as cutting energy bills.
But expanding North Sea oil will do none of those things, for several reasons.
We don’t own the oil and gas, which we give away to energy companies together with substantial subsidies. They sell the oil and gas to the highest bidder on international markets, keep all the revenue, and are currently making eye-watering profits on which they pay almost no tax. Almost 80 per cent of UK production of crude oil is exported and plays no part in our domestic energy security.
We don’t own the companies that exploit this oil and gas. According to one study, more than a third of the licence blocks in the North Sea now have a private or state-backed controlling interest, with fossil fuel firms from China, Russia and the Middle East playing an increasingly dominant role. As well as being unaccountable to UK shareholders, these businesses have no strategic interest in UK energy security or in keeping bills low for UK households.read more
May 15th, 2022
by John Donovan.
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THE SUNDAY TIMES
Jackdaw gas field set for official approval
Michael Glackin:
Westminster’s oil and gas regulator is set to approve a controversial North Sea gas project it previously rejected on environmental grounds amid increased concerns about UK energy security.
It is understood approval for Shell’s Jackdaw gas field, 150 miles east of Aberdeen, is now “imminent” following Russia’s decision to cut off gas supplies to a number of European countries.read more
Energy giant shell has been fined £50,000 by North Sea regulators for breaching production consents.
The North Sea Transition Authority (NSTA) requires the consents for companies to produce oil and gas.
It has now fined Shell and served the company with a sanction notice for breaching five field consents.
The NSTA said adhering to production consents is “an indicator of good stewardship of fields, and is an important component of a stable, well-regulated industry which has the trust and confidence of investors and the public”.read more
Energy giant Shell paid no tax on its North Sea oil and gas production last year even as the global energy crunch saw it profits soar to more than $19bn.
The London-headquartered firm bagged tax refunds relating to the decommissioning of old oil platforms in the North Sea, meaning it received $131.8m from the UK treasury in 2021, according to details of its payments to government released yesterday.read more
SHELL chief executive Ben van Beurden has rejected calls for a windfall tax on North Sea firms and said the company remains keen to invest in new fields in the area after dropping plans for the controversial Cambo development.
The energy giant may have helped stoke calls for a one-off tax to be imposed on firms to help tackle the energy crisis in the UK yesterday when it posted a 300 per cent increase in annual profits, to $19.3 billion (£14.3bn), from $4.8bn.read more
London (CNN Business)The UK government is coming under mounting pressure to increase taxes on oil and gas companies, including BP and Shell. The aim: to help British households cope with skyrocketing energy bills.
The main opposition Labour Party this weekend called on Prime Minister Boris Johnson to impose a windfall tax on companies pumping oil and gas from the North Sea, saying that the money raised could be used to cut £200 ($272) from soaring household bills.read more
Following the Alexander Kielland disaster in 1981 and the subsequent enquiry of the many recommendations made lifeboats launching arrangements were to be changed to on load release. This recommendation was endorsed by the Norwegian Government despite objections regarding this system requiring specialist attention due to complexity and sequence of use.read more
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: EVIL OIL GIANT SHELL COLLUDED IN THE EXECUTION OF MY INNOCENT HUSBAND
ESTHER KIOBEL SUES SHELL FOR COMPLICITY IN HUSBANDS MURDER
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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See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission websiteetc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
John Donovan, the website owner
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: 27 May 2022
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EXPERT COMMENT ON THE ARTICLE…
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.
