Shell greenlights major new oil field in Gulf of Mexico July 26, 2021 Shell this afternoon gave the green light to a major new oil field in the Gulf of Mexico, its first such project to be approved since a Dutch court ordered the oil giant to cut emissions quicker. At peak production, the field, which is called “Whale”, will provide an estimated 100,000 barrels of oil per [...]
Shell appeals historic Dutch emissions order July 20, 2021 Shell has today confirmed that it will appeal against a landmark court ruling requiring the oil giant to cut emissions faster than it had planned to. The Anglo-Dutch firm said that it had been unfairly singled out by the ruling, which it said was not an “effective” way of tackling climate change. In May, a [...]
Shell shares bubble up as oil giant increases investor returns July 7, 2021 Shares in Shell pushed up this morning as the oil giant said it would increase shareholder returns to 20-30 per cent of its cash flow, surprising analysts with the speed of the move. The stock rose 3.0 per cent in early trading, topping the FTSE 100 tree, on the back of the second quarter trading [...]
Shell to ‘quit California joint venture with ExxonMobil’ July 1, 2021 Shell is reportedly planning to quit its California-based joint venture with fellow oil supermajor ExxonMobil as it looks to accelerate its transition away from fossil fuels. Four sources told Reuters that the FTSE blue chip had informed Exxon that it intended to exit subsidairy Aera Energy, in which it holds a 52 per cent stake. [...]
Shell chief: We will ‘accelerate’ energy transition plans after court ruling June 9, 2021 Shell’s chief executive has today said that the oil behemoth will accelerate its plans to transition away from fossil fuels after a historic Dutch court ruling last month. In a landmark case, a court in the Hague ordered the Anglo-Dutch giant to slash greenhouse emissions by 45 per cent from 2019 levels by 2030, faster [...]
Dutch court rules that Shell must increase emissions reductions by 2030 May 26, 2021 A Dutch court has today ruled that oil giant Shell must reduce emissions by more than it had planned by 2030, in what could be a landmark ruling for the industry. Judges at a lower court in the Hague said that the Anglo-Dutch firm was legally obliged to cut greenhouse gas emissions by 45 per [...]
Legal & General Investment Management joins Shell’s shareholder rebellion May 24, 2021 One of London’s oldest fund managers, Legal & General Investment Management (LGIM), has been revealed to have joined the shareholder rebellion today against Shell’s climate strategy last week, according to reports. Saying that the energy giant’s plans lacked credibility and the ambition needed to tackle climate change, LGIM voted against Shell’s climate transition targets, the [...]
Shell’s shareholders vote for its climate strategy, despite growing support for its activist rival May 18, 2021 Energy giant Shell saw its shareholders overwhelmingly support the company’s energy transition strategy today, despite growing backing for a second climate resolution filed by an activist group. An advisory vote on its climate strategy, which meant it was a non-binding resolution, won 88.74 per cent shareholder support at its annual general meeting (AGM) today. The [...]
Shell hails ‘strong start’ and hikes dividend on higher oil prices April 29, 2021 Oil giant Shell this morning hailed a “strong start” to 2021 as the Anglo-Dutch firm recorded a massive increase in earnings on the back of higher oil prices. The FTSE blue-chip said that earnings rose to $3.2bn, up from $393m in the final quarter of 2020. As a result of the improvement in trading, Shell [...]
City fund managers discuss post-pandemic opportunities, with NatWest, Lloyds and BP topping the list April 28, 2021 As the economy slowly recovers from what has been a dramatic year, and investors gradually dare to think again about growth and investment, City A.M. checked in with a number of prominent Square Mile-based fund mangers to find out where they spot opportunities as London’s investment community starts to shake off the pandemic. Banking, energy [...]