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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....
...Abrdn and many of its peers have come under pressure as customers continue to withdraw money from funds run by stockpickers in favour of cheaper index-tracking products....
...A separate letter from BP concurred with Shell’s position....
...In 2017, van Beurden was the first oil major chief executive to set targets to cut the carbon intensity of the company’s products and subsequently led a push into areas such as renewable power generation...
...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...
...More broadly, Shell argues that forcing it to sell less oil and gas before first addressing the global demand for its products would not reduce global emissions....
...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...
...“A bit tougher on [refined] oil products because most of the flows typically go from east to west, so that gets impacted.”...
...Using this accounting treatment allows Shell to offset the carbon produced by its oil and gas business against its lower carbon products....
...Taken altogether, the outlook for Shell’s downstream units hints that demand for refined products overall is weaker than expected....
...“This is another important milestone,” said Machteld de Haan, executive vice-president for chemicals and products at Shell....
...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....
...Among companies taking advantage is London-based oil supply company Prax Group, which in December agreed to buy a 37.5 per cent stake in the PCK refinery in Schwedt, north-east Germany, from Shell....
...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...
...At the COP28 climate conference in December, companies representing about a third of global oil and gas production including ExxonMobil, TotalEnergies, BP and Shell pledged to stop routine flaring of excess...
...The crude will enable the refinery to process an initial 350,000 barrels of crude oil a day into petroleum products, including petrol, diesel and low-sulphur fuels....
...Shell and Trinidad’s national gas company signed an agreement to export Venezuelan offshore gas via the Caribbean island, while Spain’s Repsol and France’s Maurel & Prom also inked deals, according to news...
...The oil major has made progress on its 2030 targets and introduced a new pledge to cut emissions from oil products. And, of course, many SBTi laggards say they remain committed to the cause....
...In its complaint, the FTC argued — as expected — that the tie-up would lead to higher prices, plus lower product quality and services for consumers....
...Milieudefensie won its case against Shell in 2021 when The Hague District Court ordered the oil and gas group to reduce its emissions by 45 per cent by 2030, relative to 2019, across all activities including...
...Shell is trying “to crush Greenpeace’s ability to campaign, and in doing so, seeking to silence legitimate demands for climate justice”, said Areeba Hamid, co-executive director of Greenpeace UK....
...Shell’s gaming initiatives focus on fossil fuel products such as petrol and motor oil, not renewable power....
...“The federal executive cannot have a long-term vision because the government only lasts six years — you need another mechanism,” said Rosanety Barrios, co-ordinator of energy advisers for Gálvez....
...500,000 barrels a year each for oil and petroleum products....
...The DeepMind project is the product of three years of work with Liverpool on deploying AI, including in areas such as penalty kicks and predicting movements of players....
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