Category Archives: Shell

Shell and Vitol accused of prolonging Ukraine war with sanctions ‘loophole’

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Exclusive: Ukrainian economic adviser urges energy firms to heed deadline to halt trade of ‘Russian-origin oil products’

The oil company Shell and energy trader Vitol have been accused of prolonging the war in Ukraine by exploiting a “loophole” in the EU sanctions regime to bring products derived from Russian oil into Europe through Turkey.

Oleg Ustenko, the economic adviser to the Ukrainian president, Volodymyr Zelenskiy, has urged the energy companies to commit to a deadline to halt the trade of a “Russian-origin oil products” to reduce Vladimir Putin’s war coffers, the Guardian can reveal.

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Calls for bigger windfall tax after Shell makes ‘obscene’ $40bn profit

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Sunak government under pressure after gas prices fuel ‘outrageous’ doubling of profits at Anglo-Dutch group

The government is under pressure to rethink its windfall tax on energy companies after Shell reported one of the largest profits in UK corporate history, with the surge in energy prices sparked by Russia’s invasion of Ukraine pushing the oil company’s annual takings to $40bn (£32bn).

Opposition parties and trade unions described Shell’s bonanza, the biggest in its 115 year history, as “outrageous” and accused Rishi Sunak of letting fossil fuel companies “off the hook”.

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Nearly 14,000 Nigerians take Shell to court over devastating impact of pollution

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People from Niger delta areas of Ogale and Bille seeking justice in London’s high court

Nearly 14,000 people from two Nigerian communities are seeking justice in the high court in London against the fossil fuel giant Shell, claiming it is responsible for devastating pollution of their water sources and destruction of their way of life.

The individuals from the Niger delta area of Ogale, a farming community, lodged their claims last week, joining more than 2,000 people from the Bille area, a largely fishing community. In total 13,652 claims from individuals, and from churches and schools, are asking the oil giant to clean up the pollution which they say has devastated their communities. They are also asking for compensation for the resulting loss of their livelihoods. Their ability to farm and fish has been destroyed by the continuing oil spills from Shell operations, they claim.

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Shell expects to pay about $2bn in UK and EU windfall taxes for last quarter

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Firm said in October it had not paid any UK windfall taxes because of heavy investment in North Sea

Shell has revealed it expects to pay about $2bn (£1.7bn) in UK and EU windfall taxes for the final quarter of 2022 – the first time it has paid UK tax for five years.

The oil company had previously sparked anger in October when it said it had not paid any UK windfall taxes because of heavy investment in the North Sea.

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FTSE 100 firms hand billions in dividend payouts to Qatar investors

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Critics say everyday UK consumer spending has funnelled billions to controversial World Cup host since 2010

Some of the UK’s largest listed companies including water and energy giants have handed almost £500m to Qatari state-owned investors this year, raising concerns that blue-chip company profits are supporting the controversial World Cup host.

The dividend payouts are the result of the Gulf nation’s investments in a raft of FTSE 100 firms, including Barclays, Shell and utility firm Severn Trent, which have reported strong profits amid a cost of living crisis and the worst UK drought in centuries.

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Major partnership between science centre Questacon and Shell to end after four decades

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Climate campaigners welcome move as community pressure over fossil fuel sponsorships and advertising grows

A 37-year partnership between fossil fuel giant Shell and Australia’s national science and technology centre Questacon – which branded and delivered science activities for children – is ending.

Canberra-based Questacon has also confirmed a four-year, $1m sponsorship deal with Japanese oil and gas company Inpex will not be renewed when it runs out at the end of the financial year.

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Shell doubles its profits to $9.5bn as call for windfall tax grows

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Oil giant to boost dividends as firm continues to benefit from energy price spike after Ukraine invasion

Shell has reported profits of nearly $9.5bn (£8.2bn) between July and September, more than double the amount it made during the same period a year earlier, as it said it would increase its payments to shareholders.

The oil company continued to benefit from soaring energy prices prompted by Russia’s invasion of Ukraine, but it was not able to match the record $11.5bn profit it earned between April and June, because of weaker refining and gas trading.

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South African court bans offshore oil and gas exploration by Shell

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Judgment is huge victory for campaigners concerned about effect of seismic waves on marine life

A South African court has upheld a ban imposed on the energy giant Shell from using seismic waves to explore for oil and gas off the Indian Ocean coast.

The judgment delivered in Makhanda on Thursday marks a monumental victory for environmentalists concerned about the impact the exploration would have on whales and other marine life.

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European gas shortages likely to last several winters, says Shell chief

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Warning raises prospect of continued rationing, as Total boss says Europe has to plan for future without Russian supplies

Gas shortages across Europe are likely to last for several winters to come, the chief executive of Shell has said, raising the prospect of continued energy rationing as governments across the continent push to develop alternative supplies.

Cuts to the supply of Russian gas since the invasion of Ukraine have plunged European countries into a devastating energy crisis, driving up wholesale prices to leave consumers facing huge bills and the highest rates of inflation since the 1980s.

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Revealed: BP’s ‘greenwashing’ social media ads as anger over fuel costs rose

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Oil company spent £800,000 on social media influence ads after Labour proposed windfall tax

BP has spent more than £800,000 on social media influence ads in the UK this year that champion the company’s investments in green energy, it can be revealed.

On Tuesday, BP announced a 14-year high profit of £7bn for the second quarter of this year. In the previous eight days, the company paid about £570,000 to Facebook and Instagram for influence ads that reached tens of millions of viewers in the UK.

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Europe could face energy rationing as ‘really tough winter’ looms, Shell boss warns

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Ben van Beurden says Ukraine war fallout means big rise in bills and possible need to ration supplies

European consumers could face the prospect of energy rationing this winter as costs continue to soar amid the risk of Russia cutting off gas supplies, Shell’s chief executive has said.

“It will be a really tough winter in Europe,” said Ben van Beurden, speaking at the Aurora spring conference in Oxford on Thursday. “We will all face very significant escalation in energy prices. In the worst case, Europe will need to ration its energy consumption.”

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Consultant who ditched Shell: ‘take a look at yourselves in the mirror’

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Caroline Dennett says she has been flooded with support after decision that has cost ‘around 60%-70% of my business’

Caroline Dennett’s eye was caught by a placard with two stark words: “insiders wanted”. The safety consultant was watching a video of Extinction Rebellion climate protesters who had glued themselves inside Shell’s headquarters in April and were encouraging employees to jump ship to aid its cause.

This week Dennett, who runs the independent agency Clout, released a bombshell video severing ties with Shell after an 11-year business relationship. She emailed 1,400 Shell employees and accused the £177bn behemoth of causing “extreme harms” to the environment and having a “disregard for climate change risks”.

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Shell consultant quits, accusing firm of ‘extreme harms’ to environment

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Caroline Dennett tells staff in video she made decision because of ‘double-talk on climate’

A senior safety consultant has quit working with Shell after 11 years, accusing the fossil fuel producer in a bombshell public video of causing “extreme harms” to the environment.

Caroline Dennett claimed Shell had a “disregard for climate change risks” and urged others in the oil and gas industry to “walk away while there’s still time”.

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Shell to exit joint ventures with Gazprom and pull out of Nord Stream 2

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Decisive move to end tie-up with Russian state gas firm follows BP pledge to sell its 20% Rosneft stake

Shell is to exit its joint ventures with Russian state energy firm Gazprom, a day after BP said it would offload its 20% stake in Kremlin-owned oil firm Rosneft, as British businesses scrambled to distance themselves from Vladimir Putin.

The oil company said it would “exit its joint ventures with Gazprom and related entities”, which are worth about $3bn.

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