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...Top oil industry executives have hit out at US President Joe Biden’s decision to pause approvals for new liquefied natural gas export terminals, with Shell’s CEO warning it will “erode confidence” in an...
...British oil and gas giants Shell and BP have jointly given at least £19.7mn to the university in philanthropic and research funding between 2016 and 2023, according to FT analysis of university data, which...
...The report came after oil companies including Shell and BP trimmed back their climate targets this year and hundreds of other companies, including Microsoft, Unilever and JBS, failed to set goals that were...
...Gas and power trading has overtaken oil as the biggest source of profits in the sector, contributing almost half of the industry’s gross earnings in 2022, according to Oliver Wyman....
...Shell on Thursday introduced a new ambition to cut the absolute emissions from the oil products it sells by 15-20 per cent from 2021 levels by 2030, but it intentionally excluded gas as a “critical fuel...
...“He really led Shell’s work during his tenure as CEO on transitioning it across oil and gas, renewables, sustainable aviation and transportation.”...
...Separately, Shell is suing Greenpeace for targeting its oil and gas assets, in what Greenpeace says is “one of the biggest legal threats” it has faced....
...The former head of Shell has said the oil major is “massively undervalued” in London and may benefit from switching its listing to the US, in another blow to sentiment surrounding the UK stock market....
...On Tuesday, Shell’s former chief executive, Ben van Beurden, decried the growing gap with US-listed companies, saying the oil giant was “massively undervalued” in London....
...Oil and gas executives were the most likely to share this view....
...It means that any extension of oil and gas exploration into this final frontier could add a surge of emissions to greenhouse gases at around the same time as the world is aiming to hit its net-zero target...
...The oil major added that demand for natural gas “has peaked in some regions and globally is set to peak after 2040”. LNG is natural gas liquefied by cooling it to minus 162C....
...Rather than a commitment to cut the absolute emissions, carbon intensity is an accounting treatment that allows Shell to offset the carbon produced by its oil and gas business against its growing sales of...
...Oil and gas companies in the US and Canada tend to attribute a far greater portion of executive pay packets to incentives than their European counterparts....
...Sawan also said that the company “strongly, strongly believed” in liquified natural gas. The company expects 50 per cent growth in the global supply of the chilled fuel by 2040....
...Europe’s largest oil and gas company said on Thursday that adjusted earnings were $28.3bn, down about a third from the record set in 2022 but higher than any other year since 2011....
...Sluggishness in refining at Shell chimes with what other oil producers are seeing....
...Four countries that make up more than a third of discoveries — Cyprus, Guyana, Namibia and Zimbabwe — have had little to no history of production until recently and represent the next frontier of the oil...
...and low-carbon business, will retire, the FTSE 100 oil major said in a statement on Thursday....
...Job moves Shell’s former chief executive Ben van Beurden is joining private equity group KKR as senior adviser for energy transition investments. Van Beurden spent 39 years at the oil major....
...The Oil and Gas Climate Initiative, which includes Shell, Saudi Aramco and ExxonMobil among its members, told the Financial Times it plans to extend its year-long monitoring campaign, which ended in August...
...The former head of Shell, Ben van Beurden, told the Financial Times this month that the oil major was “massively undervalued” in London and could benefit from listing in the US....
...It also partnered with Shell and China National Offshore Oil Corporation to secure exploration blocks in Brazil in December....
...But a slump could squeeze profits for “portfolio” LNG companies — often oil and gas majors such as Shell and Total — whose large bets on natural gas form part of transition strategies....
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