Shell Traders Post $1 Billion Profit in Fuel Oil Market Ahead of IMO 2020

By Javier Blas and Alaric Nightingale (Bloomberg) --Royal Dutch Shell Plc has made $1 billion from trading fuel oil this year, making it one of the standout winners from rules designed to make the shipping industry greener. Shell said last month that it made substantial money in fuel-oil trading in the third quarter, but the company didn’t disclose the size of the profits. … [Read more...]

Shell to Buy French Offshore Wind-Power Developer

By Kelly Gilblom (Bloomberg) -- Royal Dutch Shell Plc has agreed to buy French offshore wind developer Eolfi SA, continuing its expansion into renewable power. The Anglo-Dutch oil major is boosting spending on low-carbon energy as it faces pressure to address the risks climate change poses to its business. Shell’s biggest renewable bets so far have been on acquiring retail … [Read more...]

Greenpeace Climbs Decommissioned North Sea Platform

By Ron Bousso LONDON, Oct 14 (Reuters) - Greenpeace activists boarded two Royal Dutch Shell oil platforms in the British North Sea on Monday in protest against plans to leave parts of the giant structures in place after production shuts down. Pictures provided by Greenpeace show two people in yellow hats scaling one of giant two large, rusty structures and unfurling a banner … [Read more...]

Shell to Charter LNG-Powered Tanker Fleet

Royal Dutch Shell announced Monday it has agreed to charter a fleet of fourteen new LNG-powered crude oil and product tankers as part of its drive to decarbonize shipping. Shell Tankers (Singapore) Private agreed to the long-term charter deal from Sinokor Petrochemical, which expects to take delivery of the newbuilds from Samsung Heavy Industries in 2021. The ships will … [Read more...]

Shell Not Taking British-Flagged Tankers Through Hormuz

LONDON, Aug 1 (Reuters) - Royal Dutch Shell is not taking any British-flagged tankers through the Strait of Hormuz amid heightened tensions with Iran in the vital chokepoint for oil shipments. "There are Shell-managed vessels in the Strait of Hormuz and that will probably continue to be the case. Currently, though, there are no UK-flagged vessels," Chief Executive Ben van … [Read more...]