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...Shell and other producers, argue LNG has a role to play in the energy transition because, when burnt, it produces half the CO₂ of coal for the same amount of energy and 30 per cent less than oil....
...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...
...A separate letter from BP concurred with Shell’s position....
...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....
...“He really led Shell’s work during his tenure as CEO on transitioning it across oil and gas, renewables, sustainable aviation and transportation.”...
...The valuation gap between US and European oil groups is a “major issue” making it more likely that companies will consider moving their listings to New York, said former Shell chief executive Ben van Beurden...
...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....
...“This backtracking removes any doubt about Shell’s intentions: the company wants to stay in fossil fuels as long as possible,” he said, urging investors to back the climate resolution it co-filed with 27...
...“The knowledge that this has partly been the result of Shell’s activities of pumping and burning oil and gas . . . for our argument towards the Dutch court, that is indeed favourable,” he said.Shell recently...
...oil sector....
...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....
...Shell’s chief executive warned that Europe’s decline in industrial activity following Russia’s war in Ukraine was an “unsustainable” energy security strategy and urged the continent to keep the import of...
...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...
...Shell’s oil division also performed well, generating profits of $3bn underpinned by higher production than the previous quarter, but its refining operations suffered....
...Last year, two shareholders co-filed the resolution at Shell and drew the backing of about 20 per cent of the total investors who voted....
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...Sluggishness in refining at Shell chimes with what other oil producers are seeing....
...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....
...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....
...Shell has struck a deal to sell its stake in a German refinery co-owned with Russia’s Rosneft as it continues to cut ties with Moscow and reshape its refining portfolio....
...Shell has agreed to sell its onshore oil production business in Nigeria following a flood of other international groups seeking to withdraw from the country’s restive Niger Delta region....
...At rival Shell, four of the seven members of the senior team are women, while France’s TotalEnergies has two women on its nine-person executive committee....
...The oil company Shell has been on trial repeatedly in recent years — in court, in the theatre and now on the opera stage....
...Under the scheme, Trafigura and its co-conspirators agreed to make illicit payments of up to 20 cents per barrel of oil products bought from or sold to Petrobras, and to conceal the bribes via shell companies...
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