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A group of institutional investors are suing energy and gas giant Shell for allegedly not properly preparing to shift away from fossil fuels, as reported by Reuters. Client Earth, investors and activist group in Shell, are taking the board of directors to court over allegations that they are harming the company's future by not properly shifting toward green energy. The environmentalists say it is the company's duty to shift away from fossil fuels and pivot in order to fight the "climate crisis." "Shell’s Board is legally required to manage risks to the company that could harm its future success, and...

The massive revolt against the pay of BP’s chief executive, Bob Dudley, where almost 60 percent of the shareholders rejected the £14m (US$20 million) pay package is a stern warning to oil companies that investors aren’t pleased with the gaping disconnect between performance and pay structure. Similarly, Royal Dutch Shell CEO Ben Van Beurden’s 2015 pay package, including pension and tax equalization of 5.576 million euros (US$6.1 million), is likely to face resistance from shareholders as two shareholder-advisory firms have urged them to oppose the CEO’s pay.

Authorities cleared the railroad tracks of protesters and arrested 52 climate activists Sunday morning in Washington state, after a two-day shutdown. About 150 people spent the night in tents and sleeping bags on the tracks near two refineries in northwest Washington, according to BNSF Railway spokesman Gus Melonas. They were asked to leave at about 5 a.m. and most gathered their belongings and left the area near Anacortes, Melonas said. "It was peaceful," he said. "Eighty percent removed their belongings and cleared out." The 52 people arrested were cited for trespassing, according to the Skagit County Department of Emergency Management....

HOUSTON -- A Texas oilman who's accused of defrauding the Nigerian government by illegally pumping and exporting 10 million barrels of oil is a major fundraiser for Hillary Clinton's presidential campaign. Kase Lawal of Houston is at least the fourth person accused or convicted of criminal wrongdoing to help finance Clinton's political ambitions since 2000 and the second in her quest for the White House. The list also includes Chinese and Pakistani fugitives and a former Miami lawyer, Peter Paul, who was convicted of defrauding Cuba. There's no indication that Clinton's campaign was aware of Lawal's legal problems when it...

The Obama administration gave its final stamp of approval Wednesday to Shell Oil Company's application to drill oil and natural gas in the Arctic Ocean. Under the approval, Shell can start drilling exploratory wells as soon as its fleet arrives at its prospect in the Chukchi Sea, about 140 miles off Alaska's northwest coast. But the two “application to drill”s approved by the Interior Department’s Bureau of Safety and Environmental Enforcement (BSEE) included key restrictions that bar Shell from drilling in areas known to contain oil, since its safety equipment is not yet fully ready. The decision is a major...

No amount of carbon dioxide in the atmosphere could counter the mini iceage. Crop failure, famine, hardship resulted. CO2 and the weather or the climate on Earth have nothing in common The (not-so-green) Greenpeace (GP) club doesn’t like Lego, the little building-blocks; toys that many children like to play with. The Greenpeaceniks are especially upset about Lego’s connection with Shell, the oil and gas company. Many of their little toys sport a Shell logo. Therefore, GP claims it is an undue influence on children’s perspective. Presumably they’d rather see a GP logo on such toys to re-educate the kids about...

Royal Dutch Shell Plc., Europe’s biggest oil company, said crude prices would on average probably remain at current levels or rise steadily for the next two decades, with periods of volatility.

The grounding of Shell’s Kulluk drilling rig amid a fierce storm in the Gulf of Alaska raised the specter of a fuel spill in the region and provided fresh fodder to drilling foes who insist Arctic oil exploration is too risky to allow. The episode also cast doubt on whether Shell Oil Co. will be able to resume its hunt for Arctic oil this year. The 29-year-old Kulluk conical drilling unit was unmanned when it plowed into rocks on the southeast side of Sitkalidak Island Monday night in Alaska, and there were no major injuries. But Coast Guard and Shell...

Noble Corp. in January announced plans to move one of its deep-water drilling rigs out of the Gulf of Mexico amid a spill-related slowdown in activity. This week, the Swiss-based driller made good on its promise. It loaded the Noble Clyde Boudreaux, an ultra-deepwater semisubmersible, on a ship in Pascagoula, Miss., that will carry the rig 5,000 miles to Brazil, where it has a contract with Shell. That new contract, starting in April, will last for a year and is $290,000 per day less than the previous Gulf lease, Noble said. Noble, Diamond Offshore and other offshore drilling contractors have...

Former Shell Oil President John Hofmeister predicted that the U.S. won’t have enough oil to fill gas tanks whatever the price and that high gas prices could lead to another recession, because people won’t be able to buy things. The host of “Washington Journal” asked Hofmeister if he agreed with the head of ExxonMobil, Rex Tillerson, that the U.S. won’t see $5 a gallon gas and that the rhetoric over Iran is responsible for driving up gas prices temporarily. “There’s a lot of views out there, and I’ve been articulating a $5 price.

The green regime has slashed the amount of air pollutants allowable from the supermajor at its Beaufort and Chukchi plays by 50% from the original set of permits. Anglo-Dutch outfit must obtain permits from US authorities as it proposed drilling activities off Alaska “would emit more than 250 tonnes of air pollutants a year”, the EPA wrote in a statement today. “The revised permits have reduced emissions of most key air pollutants by more than 50% from the levels allowed in the 2010 permits. “These reductions are largely due to the new NO2 standard that went into effect after the...

After spending nearly $4 billion exploring, Shell Oil has been told it cannot start drilling for an estimated 27 billion gallons in the country’s most remote place — because a boat it uses might pollute the air. The Environmental Protection Agency’s appeals board denied permission for the Anglo-Dutch company to drill in the Arctic Ocean off Alaska’s northern coast, Fox News reports. Shell did not take emissions from an icebreaking vessel into consideration when calculating so-called greenhouse gases from the project, the board said. The closest human habitation to the proposed drilling site is the native Alaskan village of Kaktovik,...

EPA chief Lisa Jackson said Tuesday that Shell Oil — which has butted heads with the Environmental Protection Agency over a range of issues — financed her undergraduate education. The company gave Jackson a scholarship to Tulane University, where she got her undergraduate degree. She later got a Master of Science degree at Princeton University. “I always remind people when I speak publicly that I’m a Shell Oil creation,” Jackson said an energy conference in Washington. “I was a Shell Oil scholar and my education at Tulane University was paid for by Shell Oil Company.” “Careful what you wish for,”...

Algae biodiesel has looked so promising (as in 100 times more fuel than corn or soy) that the U.S. Department of Energy gave $9 million to Cellana, a joint research venture between Shell Oil and HR Biopetroleum, specifically to look into the alternative energy source's prospects. It seems, however, that those prospects were no longer attractive to Shell, which has announced it will no longer pursue algae biodiesel, because it feels it doesn't have sufficient commercial viability. Partner HR Biopetroleum has stated it cannot continue the project on its own as Shell pursues other biofuel initiatives with other companies.

Shell today produced its first oil and natural gas from the Perdido Development, the world’s deepest offshore drilling and production facility. Located in an isolated, ultra-deep sector of the Gulf of Mexico, Perdido marks a new era in innovation and safely unlocks domestic sources of energy for US consumers. The facility sits in approximately 2,450 metres (8,000 feet) of water, which is roughly equivalent to six Empire State Buildings stacked one atop the other, and will access reservoirs deep beneath the ocean floor. Perdido smashes the world water depth record for an offshore platform by more than 50%. “Perdido is...

Shell today produced its first oil and natural gas from the Perdido Development, the world’s deepest offshore drilling and production facility. Located in an isolated, ultra-deep sector of the Gulf of Mexico, Perdido marks a new era in innovation and safely unlocks domestic sources of energy for US consumers. The facility sits in approximately 2,450 meters (8,000 feet) of water, which is roughly equivalent to six Empire State Buildings stacked one atop the other, and will access reservoirs deep beneath the ocean floor. Perdido smashes the world water depth record for an offshore platform by more than 50%. “Perdido is...

Shell will no longer invest in renewable technologies such as wind, solar and hydro power because they are not economic, the Anglo-Dutch oil company said today. It plans to invest more in biofuels which environmental groups blame for driving up food prices and deforestation. Executives at its annual strategy presentation said Shell, already the world's largest buyer and blender of crop-based biofuels, would also invest an unspecified amount in developing a new generat­ion of biofuels which do not use food-based crops and are less harmful to the environment. The company said it would concentrate on developing other cleaner ways of...

LONDON (Reuters) - Oil Major Royal Dutch Shell Plc doesn't plan to make any more large investments in wind and solar energy in the future and does not expect hydrogen to play an important role in energy supply for some time. "We do not expect material amounts of investment in those areas going forward," Linda Cook, head of Shell's gas and power unit told reporters at a press conference on Tuesday. "They continue to struggle to compete with the other investment opportunities we have in our portfolio," Cook said of solar and wind. Shell's future involvement in renewables will be...

Royal Dutch Shell provoked a furious backlash from campaigners yesterday when it announced plans to scale back its renewable energy business and focus purely on oil, gas and biofuels. Jeroen van der Veer, the chief executive, said that Shell, the world's second-largest non-state-controlled oil company, was planning to drop all new investment in wind, solar and hydrogen energy. “I don't expect them to grow much at Shell from here, due to portfolio fit and the returns outlook compared to other opportunities,” he said, speaking at the Anglo-Dutch group's annual strategy briefing. He said that instead Shell would focus its remaining...

Shell Oil has filed for the first major water right on the Yampa River in northwest Colorado for its oil shale development plans. Shell applied Dec. 30 in state Water Court to use about 8 percent of the Yampa's peak spring flow. Shell spokesman Tracy Boyd says the water would be shipped to a reservoir for later use in oil shale production.