Shell plc (SHEL) on Dec. 2, 2024, has announced an accord with QatarEnergy to secure 3 million metric tons per annum of liquefied natural gas (LNG) for delivery to China starting January 2025. This deal will strengthen Shell’s footprint in Asia, the biggest LNG market.SHEL’s Position in the Growing Asian LNG MarketChina, the world’s largest LNG buyer, imported 71 million metric tons in 2023 and a record high of 79 million metric tons in 2021. As the Asian economies welcome cleaner energy, SHEL forecasts tha ...

Strategic Shift in Shell's Carbon Projects - Shell plc is signaling a strategic shift by selling part of its carbon projects portfolio, aligning with CEO Wael Sawan's focus on higher-return fossil fuel ventures [1] - The company is moving away from operations like offshore wind energy projects that do not provide strategic advantages or premium returns [1] - Shell plans to sell its nature-based carbon projects, reflecting a transition from carbon offset initiatives [4] Challenges in the Carbon Offset Market - The carbon offset market faces challenges, with REDD+ credit spot prices dropping from $12 50 per credit in 2022 to $3 60 in 2023 due to reduced demand and uncertainty about environmental impact [3] - Despite these challenges, the voluntary carbon market is projected to grow from $2 billion to $950 billion by 2037 [3] - Shell, once the world's largest buyer of carbon credits, has reduced its annual spending on new carbon credits from $100 million under new leadership [2][4] Shell's Transition and Future Focus - Under CEO Wael Sawan, Shell is shifting focus to more profitable fossil fuel ventures and exploring engineered carbon removal technologies like Direct Air Capture [4][6] - The company is considering options to sell its carbon projects, either as a minority holder with continued credit purchases or a complete exit without commitments [5] Shell's Position in the Energy Sector - Shell plc is one of the primary oil supermajors with global operations and currently holds a Zacks Rank 3 (Hold) [7] - Investors in the energy sector may consider better-ranked stocks like Mach Natural Resources LP (Zacks Rank 1), Enerflex Ltd (Zacks Rank 2), and Targa Resources Corp (Zacks Rank 2) [8] Performance of Alternative Energy Stocks - Mach Natural Resources LP is expected to achieve 200% year-over-year earnings growth in 2024 [9] - Enerflex Ltd has an expected EPS growth rate of 188 89% for the next quarter, outperforming the industry average [10] - Targa Resources Corp is projected to see 70 22% year-over-year earnings growth in 2024 [11]

The Dutch Court recently reversed an earlier ruling issued by The Hague Court of Appeals in 2021, favoring the British oil giant, Shell plc (SHEL) . The ruling issued in 2021 required SHEL to reduce its carbon emissions drastically by about 45% from the base 2019 levels by the end of 2030. The ruling came during the ongoing COP29 climate summit in Azerbaijan and could have a major effect on the future of climate litigations. The Dutch Court stated that although SHEL was required to reduce emissions, which t ...

British oil giant Shell won a major court victory on Tuesday when a Dutch appeals court overturned a landmark 2021 case brought by green groups that found the company partially responsible for climate change and ordered it to aggressively slash carbon emissions. The appeals court in The Hague, where Shell was headquartered until it moved to London in 2022, dismissed the 2021 ruling that ordered Shell to cut its absolute carbon emissions by 45% by 2030 compared to 2019 levels – including those caused by the ...

Topline A Dutch appeals court on Tuesday ruled in favor of oil giant Shell and overturned a landmark 2021 ruling by a lower court, which had ordered the company to sharply reduce its carbon emissions by the end of this decade, a major blow to activists pursuing legal measures to force companies to act on climate change. A Dutch appeals court overturned a lower court's ruling ordering Shell to reduce its CO2 emissions ... [+] by 45 percent by 2030. dpa/picture alliance via Getty Images Key Facts Shell had fi ...

Oil storage silos beyond waterlogged land at the Shell Plc Pernis refinery in Rotterdam, Netherlands, on Sunday, Feb. 11, 2024.A Dutch court on Tuesday ruled to dismiss a landmark climate ruling against Shell, after the oil giant was ordered to drastically reduce its global carbon emissions back in 2021.The outcome, which comes during the opening days of the COP29 climate summit in Azerbaijan, marks the latest twist in a precedent-setting case that could have far-reaching implications for the future of clim ...

Shell plc Shell welcomes Dutch Court of Appeal ruling November 12, 2024 Today, the Court of Appeal of The Hague overturned the District Court of The Hague's 2021 ruling in the case brought against Shell plc by Milieudefensie, other NGOs and a group of private individuals. "We are pleased with the court's decision, which we believe is the right one for the global energy transition, the Netherlands and our company," said Shell plc Chief Executive Officer Wael Sawan. "Our target to become a net-zero emissions ...

Shell has won its appeal against a climate court ruling that it must sharply reduce its carbon emissions. The oil and gas producer went to the Court of Appeal in the Netherlands following a decision in support of environmental campaign groups in the country, including Friends Of The Earth. That ruling, in 2021, ordered Shell to cut its carbon emissions by 45% by 2030 compared to 2019 levels in order to protect Dutch citizens. Money latest: Queue 'for miles' as middle class status symbol goes on sale with 60 ...

BP CEO Murray Auchincloss (left) and Shell CEO Wael Sawan take part in a panel at energy event ... [+] ADIPEC in Abu Dhabi on November 4, 2024. (Photo: by Fadel Senna) AFP via Getty Images A rather unsubtle change is afoot at the world's two British oil majors - BP (LON: BP) and Shell (LON: SHEL). Having pledged and burnt millions on renewable energy moves under their former bosses, both are now turning to traditional oil and gas plays to earn back more than few millions under current ones. Both U.K.-listed ...

Shell plc (SHEL) , in a move to align with its strategy of reducing dependence on conventional crude oil refining and investing in high-value products, has initiated a major conversion of its Rheinland refinery. The said refinery is located at the Wesseling site and will adapt to the growing demands of the European market. By the first quarter of 2025, crude oil processing will be phased out, and the site will be pivoted to produce high-quality Group III base oils, which are essential for lubricants in engi ...