Shell: To Exit the Entire Russian Hydrocarbon Sector in a Phased Manner
Shell plc (Shell) today announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas (LNG) in a phased manner, aligned with new government guidance. As an immediate first step, the company will stop all spot purchases of Russian …
Shell: Intends to Exit Equity Partnerships Held with Gazprom Entities
The Board of Shell plc (“Shell”) today announced its intention 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 …
Gazprom and Shell Review Current Issues of Joint Activities
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Royal Dutch Shell, took place today via a video link. The parties reviewed current issues pertaining to their joint activities, including the Sakhalin II project and the efforts being undertaken by the two companies to reduce their carbon footprint across …
The Spirit of Shell will Rise to the Challenge
CEO Ben van Beurden on a ruling by the District Court in The Hague that Shell must reduce its carbon emissions even faster than planned. Should a court single out an energy company to reduce its carbon emissions? On Wednesday 26 May, the District Court in The Hague ruled that …
Shell Presents Energy Transition Strategy Publication to Shareholders for Advisory Vote
Shell today issued its Energy Transition Strategy publication, which will be put to shareholders for an advisory vote at the company’s Annual General Meeting on May 18, 2021. This is the first time that an energy company has asked shareholders to vote on its energy transition strategy. “As we transform …
Shell: Accelerates Drive for Net-Zero Emissions with Customer-First Strategy
Shell today set out its strategy to accelerate its transformation into a provider of net-zero emissions energy products and services, powered by growth in its customer-facing businesses. A disciplined cash allocation framework and rigorous approach to driving down carbon emissions will deliver value for shareholders, customers and wider society. Shell …
Gazprom: Discusses Nord Stream 2 and Sakhalin II Trains with Shell
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Shell, took place in St. Petersburg today. The parties addressed the prospects for collaboration between the companies under the Agreement of Strategic Cooperation. An emphasis was placed on a potential …
Shell to Halt Carmon Creek in Situ Project
Royal Dutch Shell plc (“Shell”) today announces that the company will not continue construction of the 80,000 barrel per day Carmon Creek thermal in situ project located in Alberta, Canada. Shell originally sanctioned the project in October 2013 and announced in March 2015 that the project would be re-phased to …
Gazprom, BASF, E.ON, ENGIE, OMV and Shell Sign Shareholders Agreement on Nord Stream II project
As part of the Eastern Economic Forum, Alexey Miller, Chairman of the Gazprom Management Committee, Kurt Bock, Chairman of the BASF Board of Executive Directors, Klaus Schaefer, Member of the Management Board of E.ON, Pierre Chareyre, Executive Vice President of ENGIE, Rainer Seele, Chairman of the Executive Board of OMV, …
Shell Buys BG Group
Royal Dutch Shell says it has agreed to buy oil and gas exploration firm BG Group in a deal that values the business at £47bn reported the BBC. The two firms say they have reached agreement on a cash and shares offer which gives investors a 50% premium on BG …