QResear.ch

#21247583 at 2024-07-19 22:35:58 (UTC+1)
Q Research General #26040: *** Edition

Pope convenes Big Oil, investors to talk climate change
Jun 1, 2018
Pope Francis is hosting a gathering next week at the Vatican with executives of major oil producers and investment firms to talk about how the companies can address climate change, according to several people familiar with the event.

Why it matters: It's one of the most significant developments showing how corporations are working with other world leaders on climate change amid President Trump's whole-scale retreat on the issue.

Situational awareness: One year ago today, Trump announced his intention to withdraw America from the Paris climate deal, which now has support from every country except the United States. Three years ago, Pope Francis wrote his encyclical - a papal letter sent to all bishops of the Roman Catholic Church - on the importance of addressing climate change, a first in the church's history.

Here's a list of some of the participants in the private conference, with more expected:

Larry Fink, CEO of BlackRock, world's largest asset manager.
Bob Dudley, CEO of BP.
Darren Woods, CEO of ExxonMobil.
Eldar S?tre, CEO of Equinor, oil and energy producer partially owned by the Norwegian government (formerly Statoil).
Ernest Moniz, former U.S. Energy Secretary under then-President Obama.
Lord John Browne, former CEO of BP and current executive chairman of L1 Energy, an oil and gas investment firm.
Ben van Beurden, CEO of Royal Dutch Shell, was invited but declined because he had an obligation elsewhere, according to an official.

The big picture: The Pope, BlackRock and big oil companies are increasingly focusing on climate change as cleaner sources of energy have become more competitive, the impacts of a warmer world have become more apparent, and public pressure to address the issue mounts. This meeting reflects this convergence.

The details: The focus of the gathering is similar to the encyclical ("On Care For Our Common Home") with an emphasis on the energy transition of a "shared home," according to people familiar with it. The event is occurring late next week, with two people saying the Pope is likely to talk Saturday.

The University of Notre Dame is helping convene it. Leo Burke, director of its business school's climate investing initiative, declined to comment. "All along the way, we have said that any energy-related meeting involving the Vatican and Notre Dame would be a private dialogue among the attendees," Burke told me by email.

Yes, but: While it's a significant meeting, it's still just a meeting. Deep political stalemate persists in the United States on the issue. Tensions are flaring over lawsuits alleging big oil companies are liable for climate change and some environmentalists say the industry's greener moves aren't big or fast enough. To what degree the Vatican gathering prompts change and new developments is a big question mark.

For the record:

BP spokesman Geoff Morrell said Dudley is "looking forward to the Vatican dialogue. He believes gatherings of this kind help develop a better understanding of the energy transition and the best ways for corporations, countries and wider society to participate in it."

An Exxon spokesman said the company is "hopeful that this kind of dialogue can help develop solutions to the dual challenge of managing the risks of climate change while meeting growing demand for energy, which is critical to alleviating poverty and raising living standards in the developing world."
A spokesman for Moniz confirmed his attendance.
A BlackRock spokesperson declined to comment.
A spokesperson for Equinor said the company looks forward to the "opportunity to discuss how we can address climate change and opportunities in the energy transition."
A spokesperson for Browne didn't return a request for comment.
Efforts to reach the Vatican by phone and email were unsuccessful.
https://www.axios.com/2018/06/01/exclusive-pope-convenes-big-oil-investors-to-talk-climate-change-1527810398

#21246043 at 2024-07-19 18:37:17 (UTC+1)
Q Research General #26038: Digital Warriors:Fam Is Fam Bye Bye ByeDen, RIP Dobbs Edition

Pope convenes Big Oil, investors to talk climate change
Jun 1, 2018
Pope Francis is hosting a gathering next week at the Vatican with executives of major oil producers and investment firms to talk about how the companies can address climate change, according to several people familiar with the event.

Why it matters: It's one of the most significant developments showing how corporations are working with other world leaders on climate change amid President Trump's whole-scale retreat on the issue.

Situational awareness: One year ago today, Trump announced his intention to withdraw America from the Paris climate deal, which now has support from every country except the United States. Three years ago, Pope Francis wrote his encyclical - a papal letter sent to all bishops of the Roman Catholic Church - on the importance of addressing climate change, a first in the church's history.

Here's a list of some of the participants in the private conference, with more expected:

Larry Fink, CEO of BlackRock, world's largest asset manager.
Bob Dudley, CEO of BP.
Darren Woods, CEO of ExxonMobil.
Eldar S?tre, CEO of Equinor, oil and energy producer partially owned by the Norwegian government (formerly Statoil).
Ernest Moniz, former U.S. Energy Secretary under then-President Obama.
Lord John Browne, former CEO of BP and current executive chairman of L1 Energy, an oil and gas investment firm.
Ben van Beurden, CEO of Royal Dutch Shell, was invited but declined because he had an obligation elsewhere, according to an official.

The big picture: The Pope, BlackRock and big oil companies are increasingly focusing on climate change as cleaner sources of energy have become more competitive, the impacts of a warmer world have become more apparent, and public pressure to address the issue mounts. This meeting reflects this convergence.

The details: The focus of the gathering is similar to the encyclical ("On Care For Our Common Home") with an emphasis on the energy transition of a "shared home," according to people familiar with it. The event is occurring late next week, with two people saying the Pope is likely to talk Saturday.

The University of Notre Dame is helping convene it. Leo Burke, director of its business school's climate investing initiative, declined to comment. "All along the way, we have said that any energy-related meeting involving the Vatican and Notre Dame would be a private dialogue among the attendees," Burke told me by email.

Yes, but: While it's a significant meeting, it's still just a meeting. Deep political stalemate persists in the United States on the issue. Tensions are flaring over lawsuits alleging big oil companies are liable for climate change and some environmentalists say the industry's greener moves aren't big or fast enough. To what degree the Vatican gathering prompts change and new developments is a big question mark.

For the record:

BP spokesman Geoff Morrell said Dudley is "looking forward to the Vatican dialogue. He believes gatherings of this kind help develop a better understanding of the energy transition and the best ways for corporations, countries and wider society to participate in it."

An Exxon spokesman said the company is "hopeful that this kind of dialogue can help develop solutions to the dual challenge of managing the risks of climate change while meeting growing demand for energy, which is critical to alleviating poverty and raising living standards in the developing world."
A spokesman for Moniz confirmed his attendance.
A BlackRock spokesperson declined to comment.
A spokesperson for Equinor said the company looks forward to the "opportunity to discuss how we can address climate change and opportunities in the energy transition."
A spokesperson for Browne didn't return a request for comment.
Efforts to reach the Vatican by phone and email were unsuccessful.
https://www.axios.com/2018/06/01/exclusive-pope-convenes-big-oil-investors-to-talk-climate-change-1527810398

#19120488 at 2023-07-04 09:57:21 (UTC+1)
Q Research General #23482: Independence Day Commences Edition

>>19120419 (me)

In Pivot Back to Oil, Shell Eliminates Position of Head of Renewables
Published Jul 3, 2023 10:29 PM by The Maritime Executive

In another sign that Big Oil is pivoting firmly back to hydrocarbons, Shell has eliminated the position of its head of renewables, offshore wind veteran Thomas Brostrom.

Brostrom had a turbocharged career in renewables before joining Shell. He went to work for Danish offshore wind leader Orsted in 2009, and by 2012 he was in charge of Orsted's project development pipeline in the UK, the largest offshore wind market in the world. In 2015 he became president of Orsted's North America division. Under his leadership, Orsted progressed half a dozen projects on the U.S. Eastern Seaboard, including the first commercial offshore wind farm built in North America, the five-turbine Block Island Wind Farm.

Shell poached Brostrom away from Orsted in 2020-21. At the time, the British-Dutch oil major was under the leadership of then-CEO Ben van Beurden, and Brostrom's hiring was widely seen as a sign of van Beurden's public commitment to investing in renewable power and cutting emissions.

However, times have changed, and Shell - like other oil majors - is pivoting back to its traditional focus. Shell had its most profitable year ever last year, raking in $40 billion on the back of high oil and gas prices - but top earnings were not enough to keep van Beurden on the field. He was sidelined in January, and he has been replaced by former Shell director of upstream Wael Sawan. In contrast to van Beurden's long-term aspirations for green electrical power, Sawan has stressed a "ruthless" focus on near-term profitability and a firm commitment to upstream oil and gas.

The playing field for renewables has also changed since Brostrom joined Shell, particularly for the offshore wind sector. Costs for materials and equipment have increased with inflation, threatening the profitability of many offshore wind developments, including some that had previously looked like near-guaranteed profit earners.

Shell's massive SouthCoast Wind project is one of these financially-challenged developments. According to Shell and its JV partners, EDP and Engie, the capex and financing costs for offshore wind development have risen so much this year that it needs to terminate its offtake agreement (PPA) - even if it has to pay an exit-clause penalty. The partners cited "material and unforeseen supply chain and financing cost increases affecting the whole offshore wind industry."

https://maritime-executive.com/article/in-pivot-back-to-oil-shell-eliminates-position-of-head-of-renewables

#17510627 at 2022-09-07 18:09:32 (UTC+1)
Q Research General #21465: Dimufactered Terror? PANIC Edition

New Normal: EU President Calls for 'Mandatory' Energy Rationing to 'Flatten the Curve' of Demand

European Commission President Ursula von der Leyen has called for the implementation of "mandatory" energy rationing throughout the EU during peak hours in order to "flatten the curve" of demand amid the largely self-inflicted energy crisis befalling the bloc.

In a stunningly poor public relations move, EU President Ursula von der Leyen harkened back to the early days of the Chinese coronavirus crisis when citizens across the world were told to accept a brief period of lockdowns to "flatten the curve" of Covid infections, though this ultimately proved false, with two weeks quickly turning into over two years of restrictions for many across Europe and beyond.

During a speech on Wednesday proposing energy rationing measures to be put in place before the Winter months when demand peaks, the EU president said: "During peak demand, the expensive gas comes into the market. So what we have to do is flatten the curve to avoid the peak demands, we will propose a mandatory target for reducing electricity use at peak hours and we will work very closely with the member states to achieve this."

"These are tough times and they're not over soon," von der Leyen said. "But I am convinced that Europeans have the economic strength, the political will, and unity to keep the upper hand."

The use of the same rhetoric from the early stages of the Wuhan virus outbreak is ominous given that there does not appear to be an end in sight for the energy crisis enrapturing the continent, meaning that energy rationing could become another "new normal" that citizens will be forced to accept.

Indeed, late last month, Ben van Beurden, the chief executive of multinational oil and gas giant Shell warned that Europe will face years of shortages, saying: "It may well be that we will have a number of winters where we have to somehow find solutions."

https://www.breitbart.com/europe/2022/09/07/new-normal-eu-president-calls-for-mandatory-energy-rationing-to-flatten-the-curve-of-demand/

#16236752 at 2022-05-08 21:11:36 (UTC+1)
Q Research General #20538: Comfy Sunday Afternoon Edition

>>16236589
>>16236674
Shell has announced that it intends to exit equity partnerships held with Gazprom entities

Feb 28, 2022

The Board of Shell plc ("Shell") today announced its intention to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also intends to end its involvement in the Nord Stream 2 pipeline project.

"We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security," said Shell's chief executive officer, Ben van Beurden.

Shell's staff in Ukraine and other countries has been working together to manage the company's response to the crisis locally. Shell will also work with aid partners and humanitarian agencies to help in the relief effort.

"Our decision to exit is one we take with conviction," said van Beurden. "We cannot - and we will not - stand by. Our immediate focus is the safety of our people in Ukraine and supporting our people in Russia. In discussion with governments around the world, we will also work through the detailed business implications, including the importance of secure energy supplies to Europe and other markets, in compliance with relevant sanctions."

At the end of 2021, Shell had around $3 billion in non-current assets in these ventures in Russia. We expect that the decision to start the process of exiting joint ventures with Gazprom and related entities will impact the book value of Shell's Russia assets and lead to impairments.

Shell's Powering Progress strategy and financial framework remain unchanged. We reiterate our progressive dividend policy and intent to distribute 20-30 percent of CFFO to shareholders in the form of dividends and share buybacks while targeting a strong balance sheet with long-term AA credit metrics. We stepped up our distributions by announcing an $8.5 billion share buyback programme for the first half of 2022, and we expect to increase our dividend per share by 4 percent for the first quarter of 2022.
https://www.shell.com/media/news-and-media-releases/2022/shell-intends-to-exit-equity-partnerships-held-with-gazprom-entities.html

#10856807 at 2020-09-30 17:20:14 (UTC+1)
Q Research General #13895: [Knowingly] Edition

Flurry Of Corporate Layoffs Continue As Disney, Shell, & Continental Announce Mass Firings

As we look ahead to the last jobs report before the Nov. 3 US election, a growing number of corporations across various hard-hit industries are announcing tens of thousands of layoffs, as 'PPP' employment restrictions expire and the financial backlash from COVID-19 continues to ravage corporations and households.

Already this week, Royal Dutch Shell, Continental Airlines, Dow Chemicals, and Marathon Petroleum have announced restructuring plans that involve laying off tens of thousands of workers. Yesterday, Disney announced plans to eliminate 28,000 jobs as most of its theme parks remain closed, and the movie business remains effectively shuttered.

Layoff news, past 24 hours:

* Disney: 28,000 jobs cuts
* Shell: 9,000
* Dow: six percent of workforce
* Marathon Petroleum: https://t.co/B6mgCoMu8b
- Carl Quintanilla (@carlquintanilla) September 30, 2020

Royal Dutch Shell announced Wednesday morning, a new layoff program to cut upwards of 9,000 jobs, or about 10% of its workforce, as the oil major overhauls its oil and gas segments to low-carbon energy.

The Anglo-Dutch company said it would cut between 7,000 to 9,000 workers by the end of 2022. The total includes around 1,500 workers who have already agreed to leave the company this year.

The reductions are a move by Shell to decrease its corporate footprint and save costs as it transitions into low-carbon energy.

"Reduced organisational complexity, along with other measures, are expected to deliver sustainable annual cost savings of between $2.0 to $2.5 billion by 2022. This will partially contribute to the announced underlying operating cost reduction of $3.0 to $4.0 billion by the first quarter of 2021. Job reductions of 7,000 to 9,000 are expected (including around 1,500 people who have agreed to take voluntary redundancy this year) by the end of 2022," the company said in a press release.

In a statement, Shell CEO Ben van Beurden said, "We have to be a simpler, more streamlined, more competitive organization that is more nimble and able to respond to customers."

"Make no mistake: this is an extremely tough process. It is very painful to know that you will end up saying goodbye to quite a few good people," van Beurden added.

As for Shell's oil and gas production, there was a noticeable sharp drop in output to about 3.04 million barrels of oil equivalent per day due to the decline in demand because of the virus pandemic and a busy hurricane season in the US Gulf Coast that forced offshore platforms to halt operations.

https://www.zerohedge.com/commodities/shell-dump-9000-jobs-amid-flurry-corporate-layoffs

#8948854 at 2020-04-28 18:27:55 (UTC+1)
Q Research General #11454: Tuesday Afternoon Melania Edition

While everyone is watching the meltdown in the crude oil market, the global market for natural gas is also cratering.

At least 20 cargoes of U.S. liquefied natural gas (LNG) have been cancelled by buyers in Asia and Europe, according to Reuters. The global pandemic and the unfolding economic crisis have slashed demand for gas worldwide. Cheniere Energy, one of the main exporters of U.S. LNG, has seen an estimated 10 cargoes cancelled by buyers halfway around the world, Reuters said.

The price for LNG in Asia was already crashing before the pandemic, owing to a substantial increase in supply last year. Prices for LNG in Asia for June delivery have recently traded at $2/MMBtu, only slightly higher than Henry Hub prices in the U.S. As recently as October, LNG prices in Asia traded at just under $7/MMBtu.

The problem for American gas exporters is that after factoring in the cost of liquefaction and transportation, gas breakeven prices for delivering to Asia are around $5.56/MMBtu, according to Reuters. But prices are trading at less than half of those levels.

Gas exports tend to be conducted under rigid contracts, but cargoes are now facing cancellation. "The financial prospects for [LNG], once one of the globe's hottest energy commodities - seem to be imploding before our eyes," Clark Williams-Derry wrote in a new report for the Institute for Energy Economics and Financial Analysis (IEEFA). He noted that LNG prices in the fall of 2018 were at around $12/MMBtu.

The oil majors have made large bets on LNG in recent years. Royal Dutch Shell spent more than $50 billion to buy BG Group in 2015. The move back then was made with an eye on surging demand for natural gas. "We will now be able to shape a simpler, leaner, more competitive company, focusing on our core expertise in deep water and LNG," Shell's CEO Ben van Beurden said after closing on the acquisition of BG Group more than four years ago.

The deal remade Shell into one of the largest traders of LNG on the planet. Several other oil majors - Total SA, ExxonMobil and Chevron, for instance - have also made massive bets on LNG.

LNG is now arguably getting hit just as hard as crude oil from the pandemic and the global slowdown. A series of high-profile investment delays or cancellations have occurred in the past month. ExxonMobil, for instance, delayed a final investment decision on a large LNG export project in Mozambique in early April.

https://www.investmentwatchblog.com/while-everyone-is-watching-the-meltdown-in-the-crude-oil-market-the-global-market-for-natural-gas-is-also-cratering/

#2122759 at 2018-07-12 02:51:51 (UTC+1)
Q Research General #2676 It's Gettin' Weirder Edition

Shell oil welcomes ban on oil

Shell CEO 'Welcomes' Idea of Banning Petrol in UK Before 2040

http://www.sustainablebrands.com/news_and_views/cleantech/sustainable_brands/shell_ceo_welcomes_idea_banning_petrol_uk_2040

Ben van Beurden, CEO of Royal Dutch Shell, said he welcomed the idea of bringing forward the UK's ban on new petrol and diesel car sales that is currently set for 2040. MPs, mayors and thinktank Green Alliance have called for the date to be moved up to 2030 to address the health risks of air pollution, close the gap in the UK's climate targets and avoid squandering the country's leadership on electric cars.

The ban will not only cut demand for oil, but petrol stations as well, increasing the risk for companies that both produce gas and sell it directly to consumers, as Shell does.

#2122454 at 2018-07-12 02:24:32 (UTC+1)
Q Research General #2675 Elon Finds a Pickle Edition

Royal Dutch Shell


From Wikipedia, the free encyclopedia



Jump to navigation

Jump to search





Royal Dutch Shell plc

Shell logo.svg
Shell kantoor Den Haag.JPG
Headquarters in The Hague, Netherlands



Type
Public limited company

Traded as

LSE: RDSA, RDSB
Euronext: RDSA, RDSB
NYSE: RDS.A, RDS.B
FTSE 100 Component


ISIN
GB00B03MLX29

Industry
Oil and gas

Predecessor

Royal Dutch Petroleum Co. (1890)
The Shell Transport and Trading Company Limited of the United Kingdom (1897)


Founded
April 1907; 111 years ago in London

Headquarters

The Hague, Netherlands (headquarters)
Shell Centre, London, England (registered office)



Area served
Worldwide


Key people

Charles O. Holliday (Chairman)
Ben van Beurden (CEO)


Products
Petroleum, natural gas, LNG, lubricants, petrochemicals

Revenue
Increase US$305.1 billion (2017)[1]


Operating income
Increase US$15.48 billion (2017)[1]


Net income
Increase US$12.97 billion (2017)[1]

Total assets
Decrease US$407.0 billion (2017)[1]

Total equity
Increase US$194.3 billion (2017)[1]


Number of employees
92,000 (2017)[1]

Subsidiaries

Shell Australia
Shell South Africa
Shell Canada
Shell Chemicals
Shell Gas & Power
Shell Hong Kong
Shell New Zealand
Shell Nigeria
Shell Oil Company
Shell India Markets
Shell Pakistan
Shell Egypt


Website
www.shell.com

Royal Dutch Shell plc (LSE: RDSA, RDSB), commonly known as Shell, is a British-Dutch multinational oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom.[2] It is one of the six oil and gas "supermajors" and the sixth-largest company in the world measured by 2016 revenues (and the largest based in Europe).[1] Shell was first in the 2013 Fortune Global 500 list of the world's largest companies;[3] in that year its revenues were equivalent to 84% of the Netherlands' $556 billion GDP.[4]

https://en.wikipedia.org/wiki/Royal_Dutch_Shell





Fri 16 Feb 2018 20:05:17 732b35 No.402538
Clown Agency>No Such Agency.
RIP JFK - we will succeed.
Pyramid will collapse.
Think shell.
Q

Mon 09 Apr 2018 12:16:28 7ec299 No.966637
>>XMAS IN DC
Who is arranging the PRIVATE meetings?
MZ campaign contribution promises.
FB donations since 4.2.18?
Fresh round.
R's targeted (censorship/anti R = more $).
How to mask?
MZ personal donations?
Shell Co?
Recent stock dump?
Avoid FB public disclosure?
Track congressional intake (reported).
Keep open (+6 mo).
Loud w/ findings.
RT - how DC/swamp works.
Money talks.
Drain the swamp.
How do politicians access campaign contributions for personal use?
The "Con."
Q

#1612397 at 2018-06-02 02:16:47 (UTC+1)
Q Research General #2028: "Re_read drops - you have more than you know" Edition

Does any anon have any idea what this could be about?

Pope Francis is hosting a gathering next week at the Vatican with executives of major oil producers and investment firms to talk about how the companies can address climate change, according to several people familiar with the event.

Why it matters: It's one of the most significant developments showing how corporations are working with other world leaders on climate change amid President Trump's whole-scale retreat on the issue.

Show less
Situational awareness: One year ago today, Trump announced his intention to withdraw America from the Paris climate deal, which now has support from every country except the United States. Three years ago, Pope Francis wrote his encyclical - a papal letter sent to all bishops of the Roman Catholic Church - on the importance of addressing climate change, a first in the church's history.

Here's a list of some of the participants in the private conference, with more expected:

Larry Fink, CEO of BlackRock, world's largest asset manager.
Bob Dudley, CEO of BP.
Darren Woods, CEO of ExxonMobil.
Eldar Sætre, CEO of Equinor, oil and energy producer partially owned by the Norwegian government (formerly Statoil).
Ernest Moniz, former U.S. Energy Secretary under then-President Obama.
Lord John Browne, former CEO of BP and current executive chairman of L1 Energy, an oil and gas investment firm.
Ben van Beurden, CEO of Royal Dutch Shell, was invited but declined because he had an obligation elsewhere, according to an official.