If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksShell Share News (SHEL)

Share Price Information for Shell (SHEL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,946.00
Bid: 2,942.50
Ask: 2,943.50
Change: 37.50 (1.29%)
Spread: 1.00 (0.034%)
Open: 2,922.50
High: 2,949.00
Low: 2,922.50
Prev. Close: 2,908.50
SHEL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Big Oil's climate planning not good enough, investor group says

Wed, 27th Mar 2024 09:01

Climate Action 100+ assessed 10 top oil companies

*

Companies 'alarmingly unprepared', TPI Centre's Sharp

*

U.S. companies perform worse than European peers

LONDON, March 27 (Reuters) - The current low-carbon transition plans of 10 of Europe's and North America's biggest listed oil and gas companies are not good enough to assess the risks involved, the world's leading investor climate action group said on Wednesday.

Climate Action 100+ said the companies including Exxon Mobil , Shell and Chevron were assessed using its sector-specific Net Zero Standard for Oil & Gas framework by the independent Transition Pathway Initiative (TPI) Centre.

The other companies included in the analysis were TotalEnergies, ConocoPhillips, BP, Occidental Petroleum, Eni, Repsol and Suncor Energy.

Each was assessed using indicators and sub-indicators under three broad themes - Disclosure, where companies are rewarded for providing information about their activities; Alignment, which tests their climate ambition; and Climate Solutions, which tracks their investments in greener activities.

The aim of the Net Zero Standard for Oil & Gas (NZS) framework is to allow to assess to what degree the disclosures and strategies of companies in the sector are aligned with the Paris Agreement on climate.

Overall, the companies met just 19% of all the NZS metrics. European companies performed the best, led by TotalEnergies, BP and Eni, with North American companies weaker across all three themes.

Shell and ConocoPhillips declined to comment on the findings. The other companies did not immediately reply or were not immediately able to comment on the report.

While several companies are targeting net-zero emissions by 2050, a lack of detail on their planned use of carbon capture technology meant it was hard to tell how they would get there, CA100+ said.

On the issue of fossil fuel production, which the International Energy Agency says will need to be reined in to hit the world's climate goals - a move acknowledged at the COP28 climate talks in Dubai in November - few firms appeared to concur.

Among disclosure sub-indicators, none of the companies acknowledged the "need for substantial production reduction across the industry". Of the 10, only Repsol and TotalEnergies guided on long-term oil, gas or their combined production.

None of the companies provided the desired detail on their planned greenfield capital expenditure plans, the report added.

"The inaugural assessment of the Net Zero Standard for Oil and Gas delivers a clear message: while certain companies showcase commendable strides towards robust climate strategy, the overall industry landscape remains alarmingly underprepared for the transition," said Jared Sharp, Project Lead for Net Zero Standards, TPI Centre.

The hope is that the analysis will be able to help inform engagement by asset managers with the boards of the companies, as the season for annual general meetings picks up pace in the weeks ahead, Sharp said.

More News
5 Apr 2024 07:50

LONDON BRIEFING: Shell to book USD600 million first-quarter write-off

(Alliance News) - London's FTSE 100 is called to open lower on Friday, with hawkish remarks from Federal Reserve policymakers and fears of ratcheting Middle East tensions giving investors little to cheer about ahead of the latest US jobs data.

Read more
5 Apr 2024 07:13

Shell lifts production guidance for first quarter

(Sharecast News) - Oil and gas titan Shell has raised its short-term production forecasts and said it expects an increase in margins as it updated its guidance for the first quarter on Friday.

Read more
4 Apr 2024 18:47

North Sea Crude-Brent, WTI Midland trade

LONDON, April 4 (Reuters) - North Sea Brent and U.S. WTI Midland crude traded in the afternoon window on Thursday in another busy trading session, while Forties and Johan Sverdrup were also discussed.

Read more
4 Apr 2024 17:09

Europe Distillates-Diesel margins slip on rising inventories

LONDON, April 4 (Reuters) - Northwest European diesel barge margins fell by about $1 to $25.25 a barrel on Thursday as regional inventories rose.

Trades   Bids   Offers  Previous  Seller  Buyer
Session
0.1 GO Barge April
diffs fob ARA -$22
per tonne
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NWE
per tonne
<GO-CND-NWE>
0.1 GO Cargo May
diffs cif Med +$6
per tonne
<GO-CND-MED>
50ppm barge
diffs fob ARA
per tonne
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge April April Shell, BP,
diffs fob ARA +$0.75- +$2-$3 Litasc Glenco
per tonne $2.25 (25.32KT o, re,
<ULSD10-BD-AR (32.45K ) ExxonM Gunvor
A> T) obil, ,
Mabana TotalE
ft nergie
s,
Vitol
Diesel cargo April Shell Vitol
diffs cif NWE +$13
per tonne (Amster
<ULSD10-ANYD- dam)
NWE>
Diesel cargo
diffs cif Med
per tonne
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA>
Jet fuel CCM
cargo flat
cif NWE per
tonne
<JET-CD-NWE>

Read more
4 Apr 2024 16:55

LONDON MARKET CLOSE: US initial jobless claims hotter than expected

(Alliance News) - Stock prices in London closed up on Thursday, as investors first digested words from US Federal Reserve Chair Jerome Powell overnight, before reacting to hotter-than-expected US initial jobless claims.

Read more
4 Apr 2024 11:58

LONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves

(Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell.

Read more
3 Apr 2024 12:10

Dutch Senate delays Groningen gas field shutdown

AMSTERDAM, April 3 (Reuters) - The Dutch Senate has postponed a vote on a law to close permanently the Groningen gas field, angering the government that has said production would never resume because of the risk of earthquakes.

Read more
3 Apr 2024 09:58

Dutch Senate postpones decision on Groningen gas field shutdown

AMSTERDAM, April 3 (Reuters) - The Dutch Senate has postponed a vote on a law that would permanently close the Groningen gas field in the north of the Netherlands, as a majority called for more guarantees on the country's energy security.

Read more
2 Apr 2024 20:50

Kazakhstan's Kashagan operator says reports of oil spill not confirmed

ALMATY, April 3 (Reuters) - The operator of Kazakhstan's giant offshore Kashagan oilfield said on Tuesday reports of an oil spill near the field have not been confirmed and its offshore facilities were working normally. (Reporting by Mariya Gordeyeva Writing by Olzhas Auyezov)

Read more
2 Apr 2024 18:55

Europe Distillates-Diesel margins rebound

LONDON, April 2 (Reuters) - Northwest European diesel barge margins ticked $1.91 higher to around $25.05 a barrel on Tuesday, after hitting their lowest since July 2023 on Thursday in the final session before Easter holidays in Europe.

Trades   Bids   Offers  Previous  Seller  Buyer
Session
0.1 GO Barge Apr -$21
diffs fob ARA
per tonne
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NWE
per tonne
<GO-CND-NWE>
0.1 GO Cargo April
diffs cif Med +$6.5
per tonne 0
<GO-CND-MED>
50ppm barge April
diffs fob ARA -$2
per tonne
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge April Apr Shell, BP,
diffs fob ARA +$2.54 $2-$4 Belgom Vitol,
per tonne (34.85K ine Glenco
<ULSD10-BD-AR T) re,
A> Gunvor
,
Totsa
Diesel cargo April Shell BP
diffs cif NWE +$14
per tonne (CIF
<ULSD10-ANYD- Thames)
NWE>
Diesel cargo Med
diffs cif Med +$3
per tonne
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel CCM
barge -$6
diffs fob
FARAG
per tonne
<JET-BD-ARA>
Jet fuel CCM
cargo +$6.50
cif NWE per
tonne
<JET-CD-NWE>

Read more
2 Apr 2024 16:57

LONDON MARKET CLOSE: Europe down after Easter holiday weekend

(Alliance News) - The FTSE 100 took a hit on Tuesday, after a boost from London's miners and oil firms were not enough to lift the index.

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 12:29

Shell back in court in landmark Dutch climate case

(Alliance News) - Shell PLC squared off against seven environmental groups in a Dutch appeals court Tuesday, with climate activists accusing the London-based oil and gas company of failing to implement a landmark 2021 judgement.

Read more
2 Apr 2024 11:00

Biden administration approves eighth US offshore wind project

WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account