A New Role for Service Providers Amidst Energy Upheaval
the global battle against climate change.Confidence in the long-term future of renewables is further buoyed by the growing number of oil majors that have signed up to ambitious green targets. In the last month, for example, Shell has committed to a net-zero emissions goal by 2050, with CEO Ben van Beurden saying “society, and our customers, expect nothing less”.The success of the renewables industry so far is supported by the progressive work done to date by companies including Shell, BP and Equinor to diversify into other means of power generation. As the global energy industry continues
Shell, Petrobras Expand Deep Water Partnership
of technology. The MoU also involves sharing best practices and learnings on safety and governance management, technical and operational solutions, contract management, logistics, wells construction and air transportation safety. The document was signed by Shell CEO Ben Van Beurden and Petrobras CEO Pedro Parente, during a visit by Petrobras’ executives to the Shell headquarters. “Competitive growth of deep-water resources remains key to our company’s strategy for decades to come, and we’re very pleased to advance the technical and operational
U.S. Senators Urge Obama to Block Arctic Oil Drilling
of Oregon and the letter was signed by other liberals, including Dick Durbin of Illinois and Bernie Sanders of Vermont, an independent. The senators also said drilling in the Arctic contradicted President Barack Obama's efforts to limit emissions linked to climate change. Shell CEO Ben van Beurden vowed to keep exploring the Arctic at an annual general meeting this week in the Netherlands, saying that new sources of oil must be developed to keep up with global demand. (Reporting by Timothy Gardner; Editing by Ken Wills)
Shell Eyes Arctic Drilling this Summer
largest energy firm, is intent on restarting its Arctic drilling campaign in Alaska's Chukchi Sea this summer. It was suspended in early 2013 following the grounding of a drilling rig. "Will we go ahead? Yes if we can. I'd be so disappointed if we wouldn't," Shell Chief Executive Ben van Beurden told journalists at the company's fourth quarter results conference in London. The resumption depends on having the logistics in place, receiving necessary permits and fending off a number of legal challenges, he said. Opposition to the Arctic drilling has been fierce. "Shell is
Shell Commited To Russia Expansion Despite Sanctions
Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region. Shell plans to expand Russia's only liquefied natural gas (LNG) plant with Russian partner Gazprom, he said at a meeting at Putin's residence. "We, of course, will pledge all the necessary administrative guidance and support," Putin said in response in a meeting that was later broadcast on national television. The United States and
Shell's US Arctic Policy an 'Ongoing Gamble': Greenpeace Analysis
; the source of many of the problems that arose in 2012 and an unwelcome echo of the root causes of the Deepwater Horizon disaster. Shell’s response to these questions and its public statements do not evidence serious recognition of the problems in 2012 or a concerted effort to improve. As Ben Van Beurden, the new CEO of Shell, prepares to deliver his vision for the future of the company and to set its strategic priorities, he and investors must carefully balance any focus on reserves replacement ratio with the potential financial impact of the short and long-term risks inherent in any project
Shell Sells Wheatstone LNG Stake in Australia
Joint Venture and 6.4% interest in the 8.9 million metric tons per annum Wheatstone liquefied natural gas (LNG) project in Western Australia for a cash consideration of $1.135 billion to the Kuwait Foreign Petroleum Exploration Company (KUFPEC), subject to closing. Shell Chief Executive Officer Ben van Beurden commented, “Shell will remain a major player in Australia’s energy industry. However, we are refocusing our investment to where we can add the most value with Shell’s capital and technology. We are making hard choices in our world-wide portfolio to improve Shell’s capital
February 2024
