{"id":56739,"date":"2021-02-11T18:04:41","date_gmt":"2021-02-11T23:04:41","guid":{"rendered":"https:\/\/olduvai.ca\/?p=56739"},"modified":"2021-02-11T18:05:19","modified_gmt":"2021-02-11T23:05:19","slug":"shell-says-its-oil-production-has-peaked-and-will-fall-every-year","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=56739","title":{"rendered":"Shell says its oil production has peaked and will fall every year"},"content":{"rendered":"

Shell says its oil production has peaked and will fall every year<\/a><\/h3>\n
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Royal Dutch Shell\u00a0(RDSA<\/a><\/span>)\u00a0said its oil production and carbon emissions have\u00a0peaked<\/a>\u00a0as it detailed plans to gradually wean itself off\u00a0fossil fuels<\/a>. Climate activists said it hadn’t gone far enough.<\/p>\n<\/div>\n

The Anglo-Dutch company said in a\u00a0statement<\/a>\u00a0on Thursday that it expects its oil production to decline by between 1% and 2% each year after peaking in 2019. Its total carbon emissions likely peaked in 2018, it added.<\/div>\n
Shell unveiled plans in September to become a\u00a0net zero emissions business<\/a>\u00a0by 2050 (including from its own products and those that it sells), joining European rivals\u00a0BP\u00a0(BP<\/a><\/span>)\u00a0and\u00a0Total\u00a0(TOT<\/a><\/span>)\u00a0in making a shift towards clean energy.<\/div>\n
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The oil giants have written off\u00a0billions of dollars<\/a>\u00a0of assets, spurred on by forecasts that\u00a0global oil demand<\/a> may never recover to levels reached before the pandemic, amid permanent changes to how people work and travel and growing concerns about the climate crisis.<\/div>\n
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Now Shell is setting out how it hopes to achieve\u00a0<\/strong>its goals. It wants to sell more clean energy, while investing in carbon capture and forestation projects to offset emissions. It will also expand its biofuels production and distribution business.<\/div>\n
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“Whether our customers are motorists, households or businesses, we will use our global scale and trusted brand to grow in markets where demand for cleaner products and services is strongest, delivering more predictable cash flows and generating higher returns,” said CEO Ben van Beurden.<\/div>\n
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While European oil companies\u00a0<\/strong>try to reinvent themselves,\u00a0<\/strong>America’s\u00a0ExxonMobil\u00a0(XOM<\/a><\/span>)\u00a0and\u00a0Chevron\u00a0(CVX<\/a><\/span>)\u00a0have so far resisted major changes to their businesses.\u00a0<\/strong>But shareholders are\u00a0agitating<\/a>\u00a0for a shift in direction and there are signs that the pressure may be starting to have an impact.<\/div>\n
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\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n

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Shell says its oil production has peaked and will fall every year Royal Dutch Shell\u00a0(RDSA)\u00a0said its oil production and carbon emissions have\u00a0peaked\u00a0as it detailed plans to gradually wean itself off\u00a0fossil fuels. Climate activists said it hadn’t gone far enough. The Anglo-Dutch company said in a\u00a0statement\u00a0on Thursday that it expects its oil production to decline by […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[30934,30933,595,617,3022],"class_list":["post-56739","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-cnn-business","tag-hanna-ziady","tag-oil-production","tag-peak-oil","tag-royal-dutch-shell"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56739"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56739\/revisions"}],"predecessor-version":[{"id":56741,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/56739\/revisions\/56741"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}