Ben Van Beurden News

In the global quest for achieving net zero emissions and slowing down global warming, carbon capture and storage (CCUS) technology has emerged as an important solution. Among the notable projects being developed in the field is the Northern Lights offshore carbon capture and storage project in Norway, a country with long experience with offshore CO2 storage.The transition to a sustainable energy future requires innovative solutions that go beyond simply halting fossil fuel projects.

Shell's incoming Chief Executive Wael Sawan is set to accelerate the group's drive to build its renewable energy business, including through a possible "transformative" clean power acquisition, company and industry sources said.Sawan will from January take on a firm with a strong balance sheet after a surge in oil and gas prices, but whose renewables capacity has lagged peers like TotalEnergies and BP as green issues come increasingly into vogue. Shell aims to halve its greenhouse gas emissions by 2030 and to become a net-zero emitter by 2050…

Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season.Unplanned disruptions at LNG plants in the United States, Nigeria and Australia have wrong-footed traders, including BP and Shell, forcing them to pay inflated costs for alternative supplies.In a market already struggling to meet global demand for natural gas after Russia sharply reduced pipeline supplies into Europe, the lost LNG cargoes which can be transported by ship, have pushed global prices sharply…

In the latest corporate backlash to Russia's invasion of Ukraine, the Board of Shell plc said it intends to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also intends to end its involvement in the Nord Stream 2 pipeline project.“We are shocked by the loss of life in Ukraine, which we deplore…

Oil major Shell expects its Prelude FLNG unit in Australia, the world's largest unit of the type, will remain shut for most of the first quarter of 2022.The world's largest FLNG facility had in January 2021 resumed LNG cargo shipments, almost one year after a shutdown caused by an electrical trip, only to be shut down again in December 2021 after a sudden loss of power, and subsequent failed attempts to re-establish reliable power aboard.At a Q&A Thursday, as part of Shell's results presentation…

In today’s energy industry, things are moving fast. The upheaval brought about by COVID-19 and exacerbated by the Russia-Saudi Arabia oil price war has been so profound that the International Energy Agency (IEA) has described the situation as “a once in a century event for energy demand”. This is supported by current IEA predictions which suggest a 6% drop in global energy demand in 2020 – seven times worse than the plunge in demand that followed the 2008 recession.Amid what the IEA has dubbed a “dismal” year for fossil fuels…

Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050.Achieving this target will…

State-owned Qatar Petroleum and the Netherlands-based oil and gas company Shell signed a shareholder agreement to establish a joint venture for global LNG bunkering services.The agreement signed by Qatar Petroleum’s Wave LNG Solutions and Shell Gas & Power Developments B.V. paves the way for the establishment of a joint venture company owned equally by both parties, subject to customary regulatory approvals.The new company’s principal business activities will include the procurement of LNG, setting up LNG bunkering infrastructure (storage and bunker vessels) at various strategic locations around the world, and facilitating the sale of LNG as a marine fuel to end customers around the world.Saad Sherida Al-Kaabi…

Royal Dutch Shell is not taking any British-flagged tankers through the Strait of Hormuz amid raised tensions with Iran in the vital chokepoint for oil shipments."There are Shell-managed vessels in the Strait of Hormuz and that will probably continue to be the case. Curently, though, there are no UK-flagged vessels," Chief Executive Officer Ben van Beurden told reporters.Reporting by Ron Bousso

With years of austerity in their rear-view mirrors, the world's biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil, the biggest publicly traded oil company, has largely disappointed with a weaker outlook. Major oil companies slashed spending and cut costs after oil prices collapsed…

Former BP PLC Chief Executive John Browne said fellow FTSE 100 giant Royal Dutch Shell PLC is risking its long term reputation and finances by deciding to drill n the Arctic, the BBC reported. Both Browne and Shell Chief Executive Ben van Beurden gave interviews to BBC for a Radio 4 documentary concerning climate change, where Browne said Shell should not be prioritising the Arctic as an area for exploration for a variety of reasons, especially in the current downturn. "I'm not chairman of Shell. But I think [Arctic drilling] is very expensive and I would always go for hydrocarbons which have less cost and effort involved. Some companies will genuinely believe - they may be right - that they can produce oil safely and environmentally securely in extraordinary conditions" said Browne.

Shell Oil's icebreaker MSV Fennica weaved through nine remaining protesters hanging from the St. Johns Bridge and made its way toward the Pacific Ocean. Authorities have removed protesters dangling from a bridge and in kayaks in Oregon, allowing an icebreaker to get through and head toward the Arctic, The Associated Press reported. Demonstrators had been trying to stop the Fennica from leaving Portland, Oregon, and heading for an oil drilling operation, the AP reported. The ship had tried to leave earlier Thursday, but was forced to turn around by the protesters dangling from the bridge. "The Fennica is now safely on its way to Alaska…

The world's fossil fuel reserves cannot be burned unless some way is found to capture their carbon emissions, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said on Friday. In an interview published in Britain's Guardian newspaper, Van Beurden forecast that global energy use would produce "zero carbon" by the end of the century, and that his group would get a "very large segment" of its earnings from renewable power. The interview came a day after Van Beurden slammed as a "red herring" calls to divest from energy companies as part of the fight against climate change, in particular the "Keep it in the Ground" campaign led by the Guardian.

A group of 18 mostly Democratic U.S. senators on Friday urged the Obama administration to stop Royal Dutch Shell's preparations for oil exploration in the Arctic, saying the region has a severely limited capacity to respond to accidents. The senators, from both coasts and several Midwestern states, sent a letter to Interior Secretary Sally Jewell, urging her to retire Arctic leases in the Chukchi Sea. Jewell's department earlier this month conditionally approved Shell's exploration plan in the Arctic. The move means the company is likely to return to the Chukchi Sea this summer for the first time since a mishap-filled drilling season in 2012.

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief Executive Ben van Beurden said on Thursday. "It needs to be looked at as the tax position is hindering viability," he told reporters at a conference in London. Britain is in the process of changing its tax regime to help North Sea producers deal with high costs and has promised to reduce taxes. Reporting by Karolin Schaps

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high. Remote and costly to develop, the Arctic is estimated to contain 20 percent of the world's undiscovered hydrocarbon resources and despite fierce opposition, plans for drilling north of the Arctic Circle are under way in the United States, Russia and Norway. Shell, Europe's 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.

French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week. Pouyanne, 51, head of refining, had been considered as possible candidate to succeed de Margerie in the past and has a reputation as a shrewd cost-cutter. The world's fourth largest oil company also named Thierry Desmarest, a former Total CEO, as non-executive chairman. The appointments came less than 48 hours after de Margerie's death.

Royal Dutch Shell CEO Ben van Beurden on Friday welcomed Scotland's vote against independence. "Shell welcomes the decision by the people of Scotland to remain within the UK, which reduces the operating uncertainty for businesses based in Scotland," van Beurden said in a statement. "Shell will continue to work closely with both the UK and Scottish governments to help the industry deliver vital energy supplies through investment in the UK's oil and gas resources. We look forward to continuing our proud association with Scotland." By Ron Bousso

Rosneft and BP signed an agreement on Saturday to jointly explore for hard-to-recover oil in Russia, the first major deal for the state-run Russian oil company since the West imposed sanctions over Ukraine in March. Rosneft chief executive Igor Sechin, a close ally of President Vladimir Putin, has been targeted by U.S. sanctions along with some other members of Putin's so-called inner circle following Russia's annexation of Crimea from Ukraine in March. Western energy bosses saved the St Petersburg International Economic forum from a complete failure by effectively standing by Russia as heads of top banks and many other firms did not show up for fear of reprisals over the sanctions.

Royal Dutch Shell has suspended development of a liquefaction unit at Canada's Jumping Pound facility, which was to be used to develop the emerging gas for transport market. Gas liquefaction is increasingly being produced for use in transportation of large road vehicles, in trains, and as a shipping fuel. "We believe LNG (liquefied natural gas) in transport is a considerable opportunity for Shell, but it is an emerging market and we must have a balanced approach to its development, (so) we have suspended development of the liquefaction unit at the Jumping Pound facility," a Shell spokseman said on Friday. Shell is the major owner of the Jumping Pound complex in southern Alberta…

Royal Dutch Shell informs that its second quarter 2014 earnings, on a current cost of supplies (CCS) basis, were $5.1 billion compared with $2.4 billion for the same quarter a year ago. Earnings included an identified net charge of $1.0 billion after tax, mainly reflecting impairments which were partly offset by divestment gains. "Our financial performance for the second quarter of 2014 was more robust than year-ago levels but I want to see stronger, more competitive results right across the company, particularly in Oil Products and North America resources plays. Improvement of financial performance in these two parts of the business will take time, but I see early momentum, which we must maintain."of Royal Dutch Shell plc.

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable. "Policy makers here in the U.S. should embrace a truly liberalized diverse and global energy market," Shell CEO Ben van Beurden told a conference on energy at Columbia University. U.S. oil and natural gas exports "would reinforce the long term future of North American energy production," significantly improve the U.S. balance of trade, and "help to make the global energy system much more stable," he said. The United States has banned oil exports since the 1970s Arab oil embargo…

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.