Royal Dutch Shell Plc s head expects clean energy to make up half of the company s energy mix somewhere in the next decade.
(Bloomberg) Royal Dutch Shell Plc’s head expects clean energy to make up half of the company’s energy mix “somewhere in the next decade.”
“If we do not make that type of process by the middle of next decade, we have a problem not just as a company but as a society,” Chief Executive Officer Ben van Beurden said in an interview with AXIOS on HBO.
Like its European peers, the Anglo-Dutch major has set itself an “ambition” to become a net-zero emissions energy company by the middle of this century. The feat involves producing less oil, more gas and renewables, as well as using technologies still in their infancy like hydrogen and carbon sequestration. Not everyone is convinced, with the energy giant set to clash with some shareholders on the matter at its annual general meeting later this month.
Royal Dutch Shell Plc took the opportunity to pay down its heavy debt burden as profit surged by more than expected in the first quarter.
(Bloomberg) Royal Dutch Shell Plc took the opportunity to pay down its heavy debt burden as profit surged by more than expected in the first quarter.
The energy giant became the latest oil major to restore earnings to pre-pandemic levels, thanks to a sharp recovery in the prices of crude, natural gas and chemicals.
As the industry recovers, investors are demanding higher returns and Shell took another step toward giving them what they want. After slashing its dividend last year, the company went ahead with a planned 4% increase to the payout. It also managed to pay off $4.1 billion of net debt, moving closer to the level of borrowing that will allow it return extra cash to shareholders.
Shell, Harbour Team Up in U.K. Carbon Capture, Hydrogen Project
Elena Mazneva, Bloomberg News Pipelines at the hydrogen co-generation system plant on Port Island in Kobe, Hyogo Prefecture, Japan, on Monday, Oct. 26, 2020. Japan will have to accelerate the closure of coal plants and ramp up renewable energy capacity over the next decade to meet Prime Minister Yoshihide Sugaâs pledge to be emissions neutral in 30 years. Photographer: Akio Kon/Bloomberg , Bloomberg
(Bloomberg) Royal Dutch Shell Plc is joining a project to build what could be one of the U.K.âs first large-scale carbon capture and hydrogen hubs as the oil major refocuses toward cleaner energy and slims down its traditional business.
Royal Dutch Shell is joining a project to build what could be one of the UK s first large-scale carbon capture and hydrogen hubs.
(Bloomberg) Royal Dutch Shell Plc is joining a project to build what could be one of the U.K.’s first large-scale carbon capture and hydrogen hubs as the oil major refocuses toward cleaner energy and slims down its traditional business.
Shell will team up with the U.K.’s biggest independent oil and gas producer Harbour Energy Plc, and the project’s developer Storegga Geotechnologies Ltd, a unit of the latter said Friday. The companies will be equal partners in the Acorn venture, it said, without disclosing potential investments from them.
The company called the climate resolution filed by a Dutch activist investor redundant.
(Bloomberg) Royal Dutch Shell Plc’s board has urged shareholders to reject a climate resolution filed by Dutch activist investor Follow This in favor of its own energy transition plan, which the company will put to a vote next month.
The Anglo-Dutch major said that the Follow This resolution, which asks Shell to set and publish targets consistent with the goals of the Paris climate agreement, is “redundant” given its own “more comprehensive strategy,” according to a company notice.
Shell upped its climate ambitions in February, saying that it would produce less oil, more gas and slash carbon emissions over the next three decades. The oil major has now presented those ambitions in an energy transition strategy for a non-binding vote by shareholders in May. The plan will be updated every three years, and investors will get an advisory vote every year on Shell’s progress toward