The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen 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: 2,772.00
Bid: 2,770.50
Ask: 2,771.50
Change: -0.50 (-0.02%)
Spread: 1.00 (0.036%)
Open: 2,754.00
High: 2,780.50
Low: 2,747.00
Prev. Close: 2,772.50
SHEL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Shell back in court in landmark Dutch climate case

Tue, 02nd Apr 2024 12:29

(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.

Judges at The Hague District Court ruled three years ago that Shell must reduce its carbon emissions by 45% by 2030, as it was contributing to the "dire" effects of climate change.

That ruling was seen as an historic victory for climate change campaigners as it was the first time a company had been made to align its policy with the 2015 Paris climate change accords.

Shell, which called litigation "ineffective" to address climate change, is appealing the 2021 ruling, while environmental groups accuse the company of failing to take action.

"Justice delayed is justice denied," said Donald Pols, who heads Milieudefensie, the Dutch arm of Friends of the Earth, who originally brought the case.

"I hope this case will change the way that Shell does business... as it is currently one of the largest polluters in the world," he added.

"We are very confident. We have been working for more than two years towards this moment," Pols told AFP outside the Hague courthouse, where four days of hearings are scheduled. 

A new study revealed "that Shell will continue to invest billions of dollars in (new) oil and gas projects for decades to come," Milieudefensie added in a statement ahead of the case.

The study, by Milieudefensie and fossil fuel research group Oil Change International, added that Shell "also made the final decision to approve construction of 20 major oil and gas projects, including six in 2023 alone."

"The scientific basis on which we've founded our claims against Shell has only solidified," Milieudefensie's lawyer Roger Cox said ahead of the hearings.

"In court it's facts that matter. That's why I am confident that we can once again convince the judges that Shell needs to act in line with international climate agreements," he said in a statement.

Shell hit back ahead of the hearing, denying it was ignoring the 2021 court ruling.

"A civilian judge simply is not equipped to make rulings in a civil case which has national and political implications," Shell's lawyer Daan Lunsingh Scheurleer told AFP.

"We too find that urgent action is needed to stop climate change," Shell Netherlands chief executive Frans Everts added.

"But this court case is not the way to achieve that aim," Everts told AFP at the start of the hearing.

"One ruling against an individual company is simply not effective if the issue simply continues to exist," he said.

Shell said it believed the 2021 verdict "was ineffective and even counterproductive in tackling climate change," but denied it was ignoring it.

Shell said it was investing some "USD10 billion to USD15 billion between 2023-25 in low-carbon energy solutions," representing 23% of its total capital expenditure.

"If this judgement is upheld, it will have far-reaching consequences for Dutch business, employment and the Dutch investment climate," the company warned.

The 2015 Paris accords committed all nations to cut carbon emissions to limit warming to two degrees Celsius (3.6 Fahrenheit) above pre-industrial levels and encouraged them to go down to 1.5 degrees.

A decision by the judges is expected within the next three months.

Shell shares rose 3.2% to 2,710.00 pence each on Tuesday afternoon in London.

By Julie Capelle and Jan Hennop

source: AFP

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
12 Apr 2024 08:58

LONDON MARKET OPEN: Stocks get boost thanks to growth in UK economy

(Alliance News) - Stock prices in London opened higher on Friday, thanks to new data suggesting the UK economy is out of recession.

Read more
11 Apr 2024 18:51

AstraZeneca CEO could earn 19 million pounds as pay measure clears opposition

Policy approved with two-third of votes in favour

*

Read more
11 Apr 2024 16:48

Europe Distillates-Diesel margins fall to lowest since July 2023

LONDON, April 11 (Reuters) - Northwest European diesel barge margins dropped by around 10% to $21 a barrel on Thursday, their lowest since July 2023, after a rise in regional stocks.

Trades   Bids   Offers  Previous  Seller  Buyer
Session
0.1 GO Barge April
diffs fob ARA -$29.0
per tonne 0
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NWE
per tonne
<GO-CND-NWE>
0.1 GO Cargo
diffs cif Med
per tonne
<GO-CND-MED>
50ppm barge May
diffs fob ARA +$2.0
per tonne 0
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge May -$2 April April Apr
diffs fob ARA to -$4 Flat -$1/+2 -$0.25-+
per tonne .00 $1
<ULSD10-BD-AR
A>
Diesel cargo 2 May Litasc Glenco
diffs cif NWE cargoes +$20.2 o re
per tonne at May 5
<ULSD10-ANYD- $12.50
NWE>
Diesel cargo Med Med
diffs cif Med +$6.0 +$0.75
per tonne 0
<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 CCM
cargo -$4 -+2
cif NWE per
tonne
<JET-CD-NWE>

Read more
11 Apr 2024 12:25

Caspian Pipeline Consortium resumes oil loadings after maintenance

MOSCOW, April 11 (Reuters) - The Caspian Pipeline Consortium (CPC) said on Thursday it had completed maintenance and had resumed oil loadings from its Black Sea terminal.

Read more
10 Apr 2024 09:01

LONDON BROKER RATINGS: Exane BNP raises Shell to 'outperform'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
10 Apr 2024 08:43

PRESS: Shell former head believes US listing is more beneficial

(Alliance News) - Shell PLC's former Chief Executive Ben van Beurden said he believes the company is "massively undervalued" in London.

Read more
9 Apr 2024 16:53

LONDON MARKET CLOSE: Stocks struggle in nervy trade before US data

(Alliance News) - European equities closed lower on Tuesday, with sentiment downbeat ahead of Wednesday's US inflation reading, though impetus could be found in gold, which hit another record high.

Read more
9 Apr 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 treads water despite boost from miners

(Alliance News) - Equities in London lacked impetus heading into Tuesday, as investors moved with caution ahead of a US inflation print on Wednesday and the European Central Bank's interest rate decision a day later.

Read more
9 Apr 2024 10:21

PRESS: Shell could make London exit if value gap to US does not close

(Alliance News) - Shell PLC fired a warning shot to that it could be prepared to move its listing to the US in a fresh blow to London's financial centre.

Read more
9 Apr 2024 07:51

BP expects rise in first-quarter upstream energy output

April 9 (Reuters) - BP said on Tuesday it expects first-quarter upstream production of both oil and gas as well as low-carbon energy to be higher than the previous three months.

Read more
7 Apr 2024 23:27

Shell, Aramco in final stage of Pavilion Energy talks- sources

LONDON/SINGAPORE, April 5 (Reuters) - Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned liquefied natural gas (LNG) trading firm Pavilion Energy, are now locked in price negotiations after completing the due diligence process, three sources with knowledge of the matter said.

Read more
5 Apr 2024 17:14

Europe's STOXX 600 at two-week low in broader market decline

Euro STOXX volatility index hit highest level since Nov

*

Read more
5 Apr 2024 16:55

LONDON MARKET CLOSE: US jobs growth adds to flagging hopes on Fed cuts

(Alliance News) - Stock prices in London closed firmly down on Friday, hit by concerns that the US Federal Reserve may cut interest rates later than hoped this year.

Read more
5 Apr 2024 15:22

London close: Stocks finish lower as US payrolls top forecasts

(Sharecast News) - London markets closed lower on Friday amid a backdrop of heightened investor caution, following robust US job data for March, hawkish remarks from Federal Reserve officials, and escalating tensions in the Middle East.

Read more
5 Apr 2024 13:41

Shell, Aramco in final stage of Pavilion Energy talks- sources

LONDON/SINGAPORE, April 5 (Reuters) - Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned liquefied natural gas (LNG) trading firm Pavilion Energy, are now locked in price negotiations after completing the due diligence process, three sources with knowledge of the matter said.

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