Jul 8th, 2022
by John Donovan.
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yahoo!finance
Shell to Take Part in Qatar’s LNG Expansion Project
Zacks Equity Research:
Shell plc SHEL recently joined the Qatari state-owned energy company – QatarEnergy’s $29-billion North Field East expansion project to expand output at the world’s biggest natural gas field, becoming the latest international partner in this ambitious megaproject.
This development, which is considered to be the single-largest project in the history of the liquefied natural gas industry, is quite significant, considering the soaring energy demand and the supply crisis following Moscow’s military action in Ukraine.
The London-headquartered oil supermajor will hold a 6.25% interest in the expansion project, with TotalEnergies and ExxonMobil also owning a 6.25% stake each.
Per Shell, the company’s investment in this project will support the delivery of the much-needed supplies of natural gas to markets worldwide and will also be integrated with carbon capture and sequestration to cut down emissions.
SHEL’s Chief Executive Officer, Ben van Beurden, said “This agreement deepens our strategic partnership with QatarEnergy, which includes multiple international partnerships,” and he further mentioned that Shell is committed to maximizing the value of the LNG expansion for the State of Qatar and becoming a trusted, dependable and long-term partner in Qatar’s continued progress.
The gulf state discovered one of the world’s largest gas reserves in the North Field in 1971. The development, however, is anticipated to augment Qatar’s output from the current 77 million tons a year to 110 million tons by 2027.read more
NEW YORK (Reuters) – A U.S. appeals court on Friday said Exxon Mobil Corp and Royal Dutch Shell Plc affiliates may try to enforce part of a $1.8 billion arbitration award against Nigeria’s state-run oil company, in a dispute concerning oil extraction near the African country’s coastline.
It said the judge should have determined which parts of the award had been deemed enforceable by a Nigerian appeals court. Lawyers for the companies did not immediately respond to requests for comment.read more
Jul 7th, 2022
by John Donovan.
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Shell boosts oil and gas asset value as refining soars
REUTERS PUBLISHED THU, JUL 7 20223:26 AM EDT
Shell said on Thursday said it would reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its energy prices outlook following Russia’s invasion of Ukraine.
In an update before second quarter results on July 28, Shell said its refining margins almost tripled over the period, boosted by recovering global demand from the pandemic, a lack of refining capacity and lower fuel exports from Russia.
Earnings from oil and refined products trading were expected to be strong in the quarter but lower than the first quarter of 2022, Shell said.
Shell’s indicative refining margin rose in the second quarter to $28.04 per barrel from $10.23 a barrel in the first quarter and $4.17 a year earlier.
Oil and gas prices remained elevated in the quarter, with benchmark Brent crude averaging about $114 a barrel.
“In the second quarter 2022, Shell has revised its mid and long-term oil and gas commodity prices reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals,” it said.
Shell increased its assumed price for Brent to $80 a barrel in 2023, up from $60 in its 2021 annual report.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 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 12th, 2022
by John Donovan.
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The Guardian
Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown
Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns
The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows.read more
Oil and gas majors on both sides of the Atlantic are scheduled to hold their annual general meetings in the coming weeks.
The forthcoming proxy season comes amid intensifying pressure on Big Oil to set short- and medium-term targets in line with the landmark Paris Agreement.
At present, not a single oil and gas major is aligned with the Paris Agreement’s goal of curbing global heating to 1.5 degrees Celsius above pre-industrial levels.
LONDON — Some of the world’s largest corporate emitters face the prospect of a shareholder rebellion this month, with climate-related votes poised to spike throughout the proxy season.
Oil and gas majors on both sides of the Atlantic are scheduled to hold their annual general meetings in the coming weeks. Existing climate strategies are up for votes alongside a range of investor-led resolutions targeting emissions reductions.read more
Shell Plc is reportedly in discussions over the sale of Shell Neft, its chain of retail fuel stations in Russia, as part of its exit plan in the aftermath of Russian President Vladimir Putin’s invasion of Ukraine, Bloomberg reported on Friday.
“We can confirm the ongoing negotiations on the sale of Shell Neft, which owns a retail network and lubricants plant which is located in Torzhok,” Bloomberg cited Shell’s press office as saying in a statement. “Our key priority is safety of our people and operations, maintaining employment and compliance with the Russian legislation.”
Shell Neft owns both a 370-strong retail network of fuel stations and a transport and logistics complex with oil facilities in Russia.read more
Oil prices have been soaring this year, as Western sanctions hit the Russian economy hard, disrupting the global oil supply from one of the world’s largest producers. But while high gasoline prices at the pump make life difficult for consumers, fossil fuel companies are making a killing.Since the Russian invasion of Ukraine over two months ago, Brent crude, an international benchmark for oil pricing, has surged past $100 a barrel, the highest oil has sold for since 2012.read more
AMSTERDAM, April 1 (Reuters) – The Dutch government on Friday said it expected to compensate NAM, a joint venture between Shell RDSa.L and Exxon XOM.N, around 7.5 billion euros ($8.3 billion) for filling the Norg gas facility the past three years, with most of the costs coming this year due to the current high price of gas.
In a statement, the Economic Affairs Ministry cited “the current historic high gas prices” and the exact amount would be determined at the end of the gas year, which runs through to Sept. 30. In all NAM will have purchased 8.8 billion cubic metres (bcm) of gas on the open market to fill the facility over the past three years.read more
Mar 11th, 2022
by John Donovan.
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Reuters
Dutch watchdog says gas production at Groningen remains unsafe
AMSTERDAM, March 8 (Reuters) – A Dutch watchdog said on Tuesday that gas production from Groningen field remained a safety threat, as Europe races to find other sources of the fuel to wean itself off Russian supplies in the wake of Moscow’s invasion of Ukraine.
The Dutch government has been winding down Groningen for years because production triggers earthquakes in the area and it plans to cease output entirely by October. But the government has not ruled out a change course in an emergency.read more
Mar 7th, 2022
by John Donovan.
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Shell buys Russian oil days after saying it would limit business with the country for its ‘senseless act of military aggression’ against Ukraine
Bethany Biron:
Shell announced on Saturday it purchased Russian oil to prevent market interruptions and ensure supply security.
Shell previously said it would limit business with Russia, including divesting from Gazprom, a Russian majority state-owned energy company.
“We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply,” Shell said.
Shell announced it purchased a cargo of crude Russian oil, just days after the oil giant said it would limit business with the country in response its “senseless act of military aggression” against Ukraine.
In a statement shared to Twitter on Saturday, Shell said it made “the difficult decision” to buy the oil from Russia — the world’s third-largest oil producer and a major gas exporter to Europe — citing concerns over market interruptions and supply security.read more
Feb 20th, 2022
by John Donovan.
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The Guardian/ The Observer
Oil and gas firms have unlisted links to Westminster
Shanti Das: Sun 20 Feb 2022
Lobbyists representing fossil fuel giants are quietly helping run parliamentary groups on energy and climate policy without the need to formally declare their involvement.
The trade associations, which are funded by oil and gas producers including Shell, BP and ExxonMobil, provide administrative and public relations support to groups of MPs.
Their roles are not included in official parliamentary transparency logs because of rules that say only benefits in kind above £1,500 a year must be recorded – a threshold the trade bodies say they do not meet.read more
Feb 19th, 2022
by John Donovan.
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The Guardian
The great greenwashing scam: PR firms face reckoning after spinning for big oil
A comprehensive study confirms that oil companies are largely all talk and no action when it comes to clean energy initiatives
Amy Westervelt: @amywestervelt: Fri 18 Feb 2022 11.00 GMT
This week a peer-reviewed study confirmed what many have suspected for years: major oil companies are not fully backing up their clean energy talk with action. Now the PR and advertising firms that have been creating the industry’s greenwashing strategies for decades face a reckoning over whether they will continue serving big oil. The study compared the rhetoric and actions on climate and clean energy from 2009 to 2020 from the world’s four largest oil companies – ExxonMobil, Chevron, Shell and BP.read more
Shell wants to buy off liability for the earthquakes in Groningen in one go. That is what president-director Marjan van Loon of Shell Netherlands says in an interview with the Financieele Dagblad (FD). Shell is a half shareholder of the Nederlandse Aardolie Maatschappij (NAM), the company that carries out the drilling in Groningen. The other half is owned by ExxonMobil.
By buying off the liability, the settlement of damage caused by the earthquakes can be accelerated, according to Van Loon. The parties have been disagreeing for years about who will pay for the damage, which means that the settlement process is slow.read more
Jan 22nd, 2022
by John Donovan.
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The Guardian
Oil industry board members to testify to Congress on climate disinformation
Officials from Exxon, Shell, Chevron and BP have been summoned to appear before the House oversight committee in February
Reuters: Fri 21 Jan 2022 14.34 GMT
A US congressional committee has invited board members at four large oil companies to testify in February about the industry’s role in the climate crisis and spreading “disinformation”, turning up the heat on big oil after lawmakers grilled their CEOs last year.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 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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REUTERS
Shell boosts oil and gas asset value as refining soars
: 27 May 2022
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EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
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