Shell Seeks Acquisitions to Bolster Australia Power Presence
James Fernyhough:
(Bloomberg) — Shell Plc is targeting acquisitions in Australia in its bid to become an integrated energy provider.
The London-based oil major is looking for a “step change” in its Australian presence from electricity generation to retail, including building up “significant battery positions,” Greg Joiner, chief executive officer of Shell Energy Australia, said in an interview.
Shell, which last week reported its second-highest earnings on record, is one of Australia’s biggest liquefied natural gas exporters, but is seeking to diversify away from fossil fuels and become the world’s biggest power company. The company has already made a string of acquisitions in Australia in recent years, including generation company ERM Power Ltd., retailer Powershop, and a stake in windfarm developer WestWind Energy Development Pty.read more
Mar 25th, 2021
by John Donovan.
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Shell hunts for hydrogen opportunities in Australia in net zero push
Sonali Paul: Thu, 25 March 2021, 8:50 am
MELBOURNE (Reuters) – Royal Dutch Shell is scouring Australia for opportunities to develop its hydrogen business, so far focused on projects in Europe, in its drive to achieve net zero carbon emissions by 2050.
Shell Australia Chair Tony Nunan said the company sees hydrogen and carbon capture and storage as essential to the company’s net zero ambitions, and Australia is well placed to be competitive in both of those technologies.
Australia, like its biggest coal and gas customers China, Japan and South Korea, has mapped out a hydrogen strategy, with plans to become an exporter by 2030, using its vast wind and solar resources to produce “green” hydrogen and natural gas and carbon capture for “blue” hydrogen.read more
Work has stopped on the 120MW Gangarri solar project near Wandoan in Queensland – the first major solar farm to be built in Australia by global oil giant Shell – after an alleged dispute over payments between contractors led to the standing down of up to 230 workers on Monday. Shell confirmed there were issues at the solar project which it hoped would be resolved soon.
Aug 24th, 2019
by John Donovan.
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The Australian Taxation Office has hit the British-Dutch oil giant Shell with a bill estimated at $755m as it continues to pursue multinational resources giants over claims they have avoided paying tax on offshore gas projects.
Court documents reveal Shell’s main Australian company, Shell Energy Holdings Australia, has been fighting the ATO for six years over tax on the company’s stake in the $30bn Browse gas project off the coast of north-west Western Australia.
The ATO’s pursuit of Shell is part of a broader effort to shake money out of big oil and gas projects that one of the authority’s most senior officials says has brought forward tax revenue by a decade.read more
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Bloomberg
Sonali Paul: Thu, 25 March 2021, 8:50 am
The Australian Taxation Office has hit the British-Dutch oil giant Shell with a bill estimated at $755m as it continues to pursue multinational resources giants over claims they have avoided paying tax on offshore gas projects.
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
