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☆ Oil giant Shell wins appeal against landmark Dutch climate ruling to slash emissions
  + stars: | 2024-11-12 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com   time to read: +2 min
A Dutch court on Tuesday ruled to dismiss a landmark climate ruling against Shell , after the oil giant was ordered to drastically reduce its global carbon emissions back in 2021. In May 2021, The Hague district court ruled that Shell must reduce its greenhouse gas emissions by 45% from 2019 levels by 2030. Shell's lawyers said demands for companies to curb greenhouse gas emissions could not be made by courts, but only by governments, Reuters reported. The company also said the court ruling would force it to shrink its business without any benefit to the fight against climate change. The burning of coal, oil and gas is by far the largest contributor to the climate crisis, accounting for more than three-quarters of global greenhouse gas emissions.
Persons: Milieudefensie Organizations: Shell, Pernis, Reuters Locations: Rotterdam, Netherlands, Azerbaijan, The Hague, Paris, Hague
☆ Shell CEO creates chief of staff role in management overhaul
  + stars: | 2023-02-23 | by ( Ron Bousso | ) www.reuters.com   time to read: +3 min
SummarySummary Companies Chief of staff to oversee performance improvementAppointment to be announced in MarchShell profits hit record, but costs set to riseLONDON, Feb 23 (Reuters) - Shell (SHEL.L) Chief Executive Officer Wael Sawan has created a senior role of chief of staff as part of a management overhaul to improve performance after technical problems and other disruption, three company sources said. The chief of staff, the first in Shell's 115-year-old history, is the biggest change Sawan has made to top management since he took office on Jan. 1 with a promise to boost the company's performance. Sawan announced the role of chief of staff and corporate relations in an internal memo last week, the sources said. A Shell spokesperson confirmed the role has been created, without adding details. Sawan has said he will improve Shell's performance and efficiency as it attempts to shift towards low-carbon energy and cut greenhouse emissions in the coming decades.
☆ Shell to combine its integrate gas, upstream businesses
  + stars: | 2023-01-30 | by ( ) www.cnbc.com   time to read: 1 min
The logo of Shell on an oil storage silo, beyond railway tanker wagons at the company's Pernis refinery in Rotterdam, Netherlands, on Sunday, Oct. 23, 2022. Shell Plc said on Monday its integrated gas and upstream businesses would be combined to form a new integrated gas and upstream directorate led by current upstream director Zoe Yujnovich. The downstream business will be combined with the renewables & energy solutions unit to form a new downstream and renewables directorate led by current downstream director Huibert Vigeveno, the company said.
☆ Shell to pay $2 billion in additional EU, UK taxes for the fourth quarter
  + stars: | 2023-01-06 | by ( Ruxandra Iordache | ) www.cnbc.com   time to read: 1 min
The logo of Shell on an oil storage silo, beyond railway tanker wagons at the company's Pernis refinery in Rotterdam, Netherlands, on Sunday, Oct. 23, 2022. Oil and gas major Shell said Friday it expects to pay an extra $2 billion in new taxes for the fourth quarter in the European Union and U.K."The Q4'22 earnings impact of recently announced additional taxes in the EU (the solidarity contribution)and the deferred tax impact from the increased UK Energy Profits Levy is expected to be around $2 billion," the company said in a trading update. The company, which will release its full fourth-quarter results on Feb. 2, also said it expects between $550 million and $750 million of losses in adjusted earnings over the period. The EU and UK levies will not affect the adjusted earnings figures, the company said. This is a developing news story and will be updated shortly.
☆ Oil giant Shell plans to raise dividend as it reports third-quarter profit
  + stars: | 2022-10-27 | by ( Sam Meredith | ) www.cnbc.com   time to read: +1 min
The logo of Shell on an oil storage silo, beyond railway tanker wagons at the company's Pernis refinery in Rotterdam, Netherlands, on Sunday, Oct. 23, 2022. British oil major Shell reported a third-quarter profit Thursday, but lower refining and trading revenues marked an end to its run of record quarterly earnings. Shell posted adjusted earnings of $9.45 billion for the three months through to the end of September, meeting analyst expectations of $9.5 billion according to Refinitiv. It also revealed plans to increase its dividend per share by around 15% for the fourth quarter 2022, to be paid out in March 2023. Shell warned in an update earlier this month, however, that lower refining and chemicals margins and weaker gas trading were likely to negatively impact third-quarter earnings.
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