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May, 2021:

May 26, 2021: A Day That May Live In Infamy For Big Oil

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May 26, 2021: A Day That May Live In Infamy For Big Oil

David Blackmon: Senior Contributor: Energy:

Wednesday was a quite an epic day for a trio of the world’s largest oil and gas corporations, and not in a positive way for their management teams. The C-suites at both ExxonMobil XOM -0.6% and Chevron CVX -1% suffered defeats at the hands of activist shareholders, while Netherlands-based Royal Dutch Shell was handed a major adverse decision from the Dutch courts. It’s hard to know which event will have the biggest impact on the respective companies – and potentially the industry as a whole – in the long-term, but in the short-term each presented a shock to the oil and gas system.

The adverse event of the day with the most obvious potential bite may well be the Dutch court’s decision ordering Shell to dramatically expand its plan to cut greenhouse gas emissions. Already one of the more aggressive major oil companies in this arena, Shell had earlier this year adopted targeted cuts of at least 6% by 2023, 20% by 2030, 45% by 2035 and by 100% by 2050 from its 2016 levels. But, as reported by Reuters, the court found that Shell’s plan was “not concrete and is full of conditions…that’s not enough.” read more

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Big Oil’s climate change revolt

DAILY MAIL: MailOnline

Big Oil’s climate change revolt: In just one day green activists win seats on Exxon board, Chevron investors demand emission cuts and court orders Shell to slash carbon

  • Top US and European oil companies had startling developments on Wednesday
  • Activist investor hedge fund won two seats on the board of Exxon Mobil
  • Gregory Goff and Kaisa Hietala will now join Exxon’s 12-member board
  • Chevron shareholders also voted in favor of a proposal to cut emissions 
  • Dutch court ordered Royal Dutch Shell to drastically deepen carbon cuts 

Some of the world’s biggest oil companies are facing stark pressure from activists concerned about climate change, prompting a string of startling developments on Wednesday.

At Exxon Mobil, an activist hedge fund won two board seats, while Chevron investors voted to force the company to cut emissions and a Dutch judge order Shell to drastically cut carbon. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil giants grope for next steps after day of devastating defeats

Seeking Alpha

Oil giants grope for next steps after day of devastating defeats

May 26, 2021 11:38 PM Exxon Mobil Corporation (XOM) By: Carl SurranSA News Editor

  • Today brought a trifecta of trouble for Big Oil: Exxon Mobil (NYSE:XOM) lost at least two board seats to an activist hedge fund, Chevron (NYSE:CVX) shareholders voted to further cut emissions, and Royal Dutch Shell’s (RDS.ARDS.B) emissions targets were deemed insufficient by a Dutch court.
  • Engine No. 1’s successful campaign to win seats on Exxon’s board likely will force it to more directly confront growing shareholder concerns about climate change.
  • Exxon was vulnerable because it has failed to provide good returns from fossil fuels for years and gets no credit from investors focused on sustainability because it has not invested in renewable energy, says Peter Bryant, a managing partner at business consultant Clareo.
  • At Chevron, shareholders voted 61% to cut emissions from the end-use of its fuels and barely lost a non-binding vote calling for a report on the business impact of achieving net zero emissions by 2050.
  • The shareholder votes signal a new sense of urgency, says Mark Van Baal, who leads a climate advocacy group that placed resolutions calling for emissions cuts at Chevron and elsewhere.
  • Meanwhile, Shell says it will appeal the Dutch court ruling, which has a “negligible chance to survive appeals,” Rystad Energy’s Per Magnus Nysveen says.
  • But lawyers and consultants say the ruling could set a precedent in other Western jurisdictions, particularly in Europe, opening oil companies and firms in other energy intensive industries to new legal jeopardy over their carbon emissions.
  • According to Van Baal, today’s message was clear: “We want you to act by decreasing emissions now, not in the distant future.”
  • read more

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    SHELL’S RESPONSE TO CLIMATE CASE RULING

    SHELL’S RESPONSE TO CLIMATE CASE RULING

    May 26, 2021

    English Translation below

    Today the court in The Hague has ruled in the climate case of Milieudefensie, other NGOs and private individuals against Royal Dutch Shell (“Shell”).

    “Urgent action is needed to tackle climate change. That’s why we’ve accelerated our efforts to become a net zero emissions energy company by 2050, moving with society, with short-term goals to track our progress. ”

    “We are investing billions of dollars in low-carbon energy, including charging points for charging electric vehicles, hydrogen, renewables and biofuels. We want to increase the demand for these products and scale up our new energy companies even faster. ” read more

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    Wikipedia Article: Milieudefensie et al v Royal Dutch Shell

    Wikipedia Article: Milieudefensie et al v Royal Dutch Shell

    Downloaded From Wikipedia, the free encyclopedia 27 MAY 2021

    Milieudefensie et al v Royal Dutch Shell
    State coat of arms of the Netherlands (wordmark).svg
    Court District court of The Hague
    Decided 26 May 2021
    ECLI ECLI:NL:RBDHA:2021:5337
    Transcript(s) in Dutchin English
    Case opinions
    The policy, policy intentions and ambitions of RDS for the Shell group are incompatible with RDS’ reduction obligation. The claimed order to comply with that obligation must be allowed. The order will be declared provisionally enforceable.
    Court membership
    Judge(s) sitting Larisa Alwin, Irene Kroft and Michiel Harmsen

    Milieudefensie et al v Royal Dutch Shell was a court case heard by the district court of The Hague in the Netherlands in 2021 related to efforts by multinational corporations to curtail carbon dioxide emissions. In May 2021, the Hague ordered that Royal Dutch Shell must reduced its global carbon emissions from its 2019 levels by 45% by 2030; it is considered the first major climate change litigation ruling against a corporation. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Nigeria Inks Massive Oil Deal With Supermajors

    OilPrice.com

    Nigeria Inks Massive Oil Deal With Supermajors

    Editor OilPrice.com:

    Nigeria’s National Petroleum Corporation this week signed a deal with Shell, Exxon, Total, and Eni to develop an offshore oil block that includes the deepwater Bonga field, the NNPC said in a series of tweets.

    The NNPC noted the deal marks a historic moment as it settles long-running disputes between the Nigerian government and international oil companies.

    According to the company, the deal could unlock up to $10 billion in new investments in Nigeria’s oil industry. It could also add 150,000 bpd to the country’s oil production, bringing the total output from the block—Oil Mining Lease 118—to 350,000 bpd, Bloomberg reports. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    A Dutch court rules that Shell must step up its climate change efforts

    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

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Explainer: What the Dutch Court Carbon Emissions Ruling Means for Shell

    REUTERS: May 26, 2021, at 2:06 p.m.

    Explainer: What the Dutch Court Carbon Emissions Ruling Means for Shell

    (Reuters) – A Dutch court on Wednesday ordered Royal Dutch Shell to significantly deepen planned greenhouse gas emission cuts, in a landmark ruling that could pave the way for legal action against energy companies around the world.

    Shell said it was “disappointed” by the ruling which it plans to appeal.

    Here are some key points about the ruling:

    – WHAT WAS THE RULING? read more

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    Oil Giants Are Dealt Major Defeats on Climate-Change as Pressures Intensify

    THE WALL STREET JOURNAL

    Oil Giants Are Dealt Major Defeats on Climate-Change as Pressures Intensify

    Shell and Exxon lose landmark decisions on the same day, demonstrating growing threats to fossil-fuel companies from activists and investors

    By Sarah McFarlane and Christopher M. Matthews: Updated May 26, 2021 7:46 pm ET

    In a first-of-its-kind ruling, a Dutch court found that Shell is partially responsible for climate change, and ordered the company to sharply reduce its carbon emissions. Hours later in the U.S., an activist investor won at least two seats on Exxon’s board, a historic defeat for the oil giant that will likely require it to alter its fossil-fuel focused strategy. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Shell Sells Alabama Refinery to Vertex Energy

    Shell Sells Alabama Refinery to Vertex Energy

    NEWS PROVIDED BY: Shell : May 26, 2021, 16:41 ET

    HOUSTONMay 26, 2021 /PRNewswire/ — Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Company and Shell Chemical LP, subsidiaries of Royal Dutch Shell plc (Shell), have reached an agreement for the sale of the Mobile Chemical LP Refinery in Mobile, AL, to Vertex Energy Operating LLC (Vertex Energy). Vertex Energy is a U.S. owned, Texas-based speciality refiner of alternative feedstocks and marketer of high purity petroleum products. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Dutch court orders Shell to deepen carbon cuts in landmark ruling

    Dutch court orders Shell to deepen carbon cuts in landmark ruling

    Fossil fuel firm must cut emissions 45% by 2030, saying the company’s current targets are ‘not enough’

    by Reuters: Wednesday, 26 May 2021 15:20 GMT

    * Court tells Shell to cut emissions by 45% by 2030

    * Ruling says Shell’s current targets ‘not enough’

    * Shell can appeal verdict

    * FACTBOX: Big Oil’s climate targets (Adds former UN climate chief tweet, Shell’s plan to appeal, details on U.S. rivals’ climate plans)

    By Bart H. Meijer read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Dutch court rules oil giant Shell must cut carbon emissions by 45% by 2030 in landmark case

    Dutch court rules oil giant Shell must cut carbon emissions by 45% by 2030 in landmark case

    LONDON — A Dutch court on Wednesday ruled oil giant Royal Dutch Shell must reduce its carbon emissions by 45% by 2030 from 2019 levels.

    That’s a much higher reduction than the company’s current aim of lowering its emissions by 20% by 2030.

    Shell’s current climate strategy states that the company is aiming to become a net-zero emissions business by 2050, with the company setting a target of cutting its CO2 emissions by 45% by 2035. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Dutch Court Orders Oil giant Shell to Reduce CO2 Emissions by 45% by 2030 relative to 2019 levels

    SKY NEWS BREAKING NEWS 26 MAY 2021

    Shell ordered to reduce emissions by 45% by 2030 in landmark ruling

    Oil major Royal Dutch Shell said it “fully expects” to appeal the “disappointing” decision.

    : Climate reporter : Wednesday 26 May 2021 15:25, UK

    Multinational oil company Royal Dutch Shell has been ordered in court to slash its carbon emissions in order to protect the environment from climate change.

    The landmark ruling, thought to be the first in history of its kind, demands the firm cuts its emissions by net 45% by 2030 – compared with 2019 levels – to bring it in line with the Paris Agreement read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Trustpilot Reviews: Fraudulent outfit… DO NOT SWITCH TO SHELL ENERGY

    Extracts from Shell Energy customer reviews posted during the past 24 hours on Trustpilot: “Fraudulent outfit, I’m going to fight them all the way but I can only give my opinion, DO NOT SWITCH TO SHELL ENERGY, aside from that they are a online supplier only, no human support to call, and the worst of the worst robo chat functionality that works at best 50% of the time, Dont choose SHell…”

    Visit the Shell Energy page on Trustpilot to view all reviews in their entirety, positive and negative (and Shell Energy responses). Watch out for any fake reviews. Note the reoccurring themes in the negative reviews, including difficulty in communicating with the companyThis article posted on 26 May 2021. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    With a little help from its friends, Extinction Rebellion runs rings round the law

    THE SUNDAY TIMES

    With a little help from its friends, Extinction Rebellion runs rings round the law

    Juries and judges sympathetic to the climate cause are giving eco-activists an easy ride

    Dipesh GadherThe Sunday Times

    As he sat in the dock last month awaiting the jury’s verdict, Ian Bray, 53, a co-founder of Extinction Rebellion, was prepared for the worst.

    The salvage worker from Huddersfield, West Yorkshire, and five other climate change activists had admitted involvement in causing £25,000 damage to Shell’s London headquarters during a protest in 2019 — but had tried to argue that a “bigger crime” was being committed against the environment by the oil giant. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

    Funds heavyweight LGIM joins shareholder revolt against Shell’s plans to curb carbon emissions because they ‘don’t go far enough’

    Funds heavyweight LGIM joins shareholder revolt against Shell’s plans to curb carbon emissions because they ‘don’t go far enough’

    • Legal & General’s asset management arm LGIM said Shell plans not ‘credible’ 
    • LGIM part of 30% to back resolution by shareholders activist group Follow This
    • Follow This urged Shell to set ‘inspirational’ targets to battle emissions
    • Another UK asset manager – Sarasin & Partners – also piled pressure on Shell and BP, saying that they were not ‘serious’ about hitting net-zero emission targets 

    Legal & General’s asset management arm has emerged as one of the investors to have voted against Royal Dutch Shell’s climate plans last week.

    While acknowledging that some progress was being made, LGIM said today that the oil major’s targets to reduce carbon emissions and oil and gas production lack credibility and fall short of tackling climate breakdown. read more

    This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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