Shell Share Discussion Threads

[jrphoenixw2] 15/12/2022 22:37

In sector news, Telegraph this pm [extract], hahaha:

'Britain’s largest North Sea oil producer is refusing to bid for new UK oil and gas wells and reviewing its investments in response to the Government’s tax raid on the sector.

Harbour Energy said it had decided not to bid for new blocks in the ongoing North Sea licensing round, the first since 2019, after the Government imposed a windfall tax on oil and gas producers earlier in the year.

The company, which has just been demoted to the FTSE 250 after a share price slide, said it was also reviewing investment levels.

Harbour Energy said: “As a result of the extension of the energy profits levy announced in the Government’s Autumn Statement, we are reviewing investment levels and company-wide capital allocation.

“This review is ongoing and, in the meantime, we have decided not to submit bids as part of this licensing process.

“We have good opportunities within our existing North Sea and International portfolios, and these will be our focus at this time.”

[lippy4] 15/12/2022 20:54

117 cannot vote that up why|???

[xxxxxy] 15/12/2022 19:54

What happens when there is no wind ?DECEMBER 15, 2022 117 COMMENTSThis is an article the Telegraph asked me to write for their publication:For more than a decade I have been asking Energy Ministers how do we keep the lights on when the wind does not blow? There has been an almost universal enthusiasm to finance more windfarms. We were told we would get more than half our power from renewables. The stated capacity of UK wind turbines is over 25 GW , which compares to demand on a cold day of a little over 45 GW.This autumn and winter we have lived through periods of little wind, when the wind electricity output can be as low as 1% of our total needs despite having theoretical capacity for many times that. I have been repeating my question. If low wind coincides with dark evenings and mornings when there is no solar power the grid has turned to maximising output from gas generators . It has had to call up the few older coal stations that managed to avoid the passion to demolish them.I have usually been told that the UK will import any extra energy it needs if there is a cold snap with little wind. The Regulators and the industry rushed to put in more interconnectors to the continent so we have that flexibility they promised. I remonstrated that we cannot rely on an energy short Europe if we run out of power. Most of the continent has no domestically available gas or oil, and was dependent on Russian imports which always contained a political risk. Unfortunately the violent conduct of Russia this year has led to an early ban on the imports that sustained Germany and Italy, leaving the EU trying to cut energy use to match the shortfall in supply. Relying on imports means paying very high prices.There have always been problems with adding too much wind power to our system. Much of the wind power is best generated offshore in Scotland where there is availability and on good days more wind. This needs an enlarged high voltage network to bring it south to where it can be consumed, with losses along the way. Too much interruptible renewable power on the system makes balancing the grid more difficult, with more need for back up generation that can be available almost instantly if the wind drops . Relying on European imports does not work when the EU is also experiencing a cold period with little wind, especially if enough of the ageing French fleet of nuclear power stations continue to struggle to stay open.Import dependence is also bad in other ways. It means exporting well paid jobs. It means paying large taxes on energy away to a foreign Treasury instead of keeping them at home to pay some of the NHS bills. It gives the UK less control over energy when there are supply constraints that need managing. When electricity was first privatised there were three aims of policy. The first was to ensure security of supply, with the industry and regulators ensuring a useful surplus over normal maximum demand from domestic stations. This was seen to be an important part of our national security. The second was affordable power, by developing a system which always used the cheapest power available. The third was environmental. In the first decade after privatisation the industry made huge advances, replacing coal stations where only around a third of the underlying energy emerged as electrical current with gas fuelled combined cycle stations that improved energy efficiency by more than half, allowing cheaper prices and a much cleaner output. There was plenty of margin for cold days when something went wrong with a power station or two. The government has wisely said it is going to make national security of supply a main aim again. To do so it needs to recognise that will require plenty of stand by power for when the wind does not blow. In due course we may find that investment in battery storage on a huge scale allows us to keep electricity from windy days to manage windless ones. We may find there is a commercial roll out for the widespread use of green hydrogen , generating more lasting power from wind electricity. Until that happens we need to rely on power stations that do work when the wind does not blow and the sun does not shine..... John Redwood

[xxxxxy] 14/12/2022 15:02

ESG investment is going to lead to Cold and Hunger and Death and Industrial Extinction.

[xxxxxy] 14/12/2022 15:02

I am closing an HSBC account.

[xxxxxy] 14/12/2022 15:01

Andy McNeilis3 HRS AGOMessage ActionsAs a customer of 42 years, a shareholder and a person with a shed of money in hsbc accounts - reading this just makes me vomit.I don't want ESG investing I didn't ask for ESG only investing. What I want is excellent returnsGrow up woke is brokeREPLY 33FLAGRDrobert dyson3 HRS AGOMessage ActionsDid the HSBC board ask for Xi Jinping 's permission regarding this decision. Terrible company.REPLY 24FLAGRLRosemary Led3 HRS AGOMessage ActionsI'm with Barclays on this. HSBC I will avoid (as I already do). Not that I can make any difference of course.I want fossil fuel exploration and extraction to continue until we can sustain our population with alternative energy sources. Responsibility not ideology.HSBC have jumped the wrong way.... Daily Telegraph

[xxxxxy] 14/12/2022 14:59

HSBC will stop funding new oil and gas fields in a renewed campaign against fossil fuels after the bank was accused of greenwashing.Britain's biggest lender will no longer provide new lending or capital markets finance to the sector as it vows to achieve net zero emissions in its projects by 2050 or sooner.It comes after the London-headquartered bank was accused of misleading consumers and greenwashing its reputation in a landmark ruling by the advertising watchdog.However, the bank said it will continue funding natural gas projects, as Europe faces its biggest energy supply crunch in a generation after Russia's invasion of Ukraine.There is a reappraisal of fossil fuels across the City, with many finance companies seeking to cut down on their investments in the industry over climate change concerns.However, Vladimir Putin's war in Ukraine has forced bankers and investors to rethink their position as the West scrambles to free itself from Russian influence.... Daily Telegraph

[ali47fish] 14/12/2022 08:48

sold mine- pause for the bulls in an rns on alliane news

[geckotheglorious] 13/12/2022 10:14

Spud.
One would assume that "Tesla Megapacks" are the solution to said problem right?
Storage. It's all about storing the power when the sun is shining, right amount of wind is blowing!

[spud] 13/12/2022 08:29

Shell Sells Non-Operated Stakes in Two Malaysia Contracts for Initial $475 MillionSource: Dow Jones NewsBy Joe Hoppe Shell PLC said Tuesday that it will sell its stake in two offshore production contracts in Malaysia's Baram Delta to Petroleum Sarawak Exploration & Production Sdn. Bhd. for a base consideration of $475 million.The energy giant said it will sell the 40%, non-operated interest in the Amended 2011 Baram Delta EOR production sharing contract, and 50% in the SK 307 production sharing contract, with the remaining stakes both held by operator Petronas Carigali Sdn. Bhd.The transaction is expected to complete in early 2023, with additional payments of up to $50 million between 2023 and 2024 depending on commodity prices. The transaction is subject to conditions including, among others, regulatory approval."Malaysia remains one of our eight core upstream positions worldwide and we will continue to help power the country's progress by investing in the oil and gas needed today, as well as in the transition to a low-carbon energy system," said Zoe Yujnovich, Shell's upstream director.The company had said it intends to divest its interests in the two contracts in March 2021.spud

[spud] 13/12/2022 08:26

It's the lack of physical storage for wind farms and solar for use when the sun isn't shining and the wind isn't blowing that's the problem, not the assets themselves.spud

[xxxxxy] 12/12/2022 11:55

A better measure of the planet's health is Biodiversity.Which may benefit by reducing human population and add a touch more CO2.

[xxxxxy] 12/12/2022 11:54

US scientists make huge breakthrough in fusion energyThere are hopes fusion energy could provide a cleaner alternative to fossil fuels in the futureByDavid Millward12 December 2022 • 6:59amADA Denny17 MIN AGOMessage ActionsFusion power will be the eventual saviour of mankind. It cannot come soon enough in a world of rapidly increasing populations all demanding more and more energy.Energy is the very basis of everything that humans do and have done to advance since the discovery of fire. Energy provision and use was firstly wood; then coal; then oil, - the discovery of fission nuclear power promised unlimited power but at the cost of nuclear waste.Fusion promises unlimited cheap energy with no radioactive waste products - for ever - until perhaps a new unknown power source is found and harnessable. It is still, I reckon, 25 to 50 years away to fusion power being practical - baring any sudden leap in technology or discovery of the process. Size is the crucial factor for a working reactor and bigger reactors are needed but take time to plan and build.Zero-carbon energy is IMPOSSIBLE - if human modern standards of living are wanted to be maintained - until fusion power becomes available.Douglas Denny.... Daily Telegraph

[supermarky] 12/12/2022 11:48

Ahhh the bbc, always 100% impartial and balanced. hahaha. They have their agenda and push it so clearly. I have to pay a licence fee for them to educate me. The licenece fee is a disgrace in this day and age. Do i really want to watch Eastenders and all their woke idealism? No!

[lippy4] 12/12/2022 09:40

i see the bbc on country file were having ago at shell last night and comparing wind to fossil fuels and only telling one side of the story,did not mention wind was supposed to be cheap energy but still charging the same as fossil fuels for its leccy..

[xxxxxy] 12/12/2022 09:22

Keeping the lights on when the wind does not blowDECEMBER 12, 2022 38 COMMENTSI have been warning of the dangers of relying on renewables for our electricity before there is sufficient battery storage, pump storage and green hydrogen production to make energy available when there is no wind or sun to power the grid. Over the last year the government did listen. It has kept three coal power stations and given them contracts for when we need that back up power. They  have opened Rough to give us a bit more gas storage for cold windless days. They have accepted that gas is an important transition fuel this decade, often providing more than half our electricity as well as heating most homes and energy intensive  industrial processes.Yesterday renewables contributed a small single figure percentage of our electricity as demand rose to combat dark and low temperatures. We needed the fossil fuel back up. The government needs to encourage further back up investment in pump storage and make sure we have sufficient gas burning generators all the time we need them to keep sufficient power in the grid. The system operator and regulator also need to review the capacity of the grid and street cable system. We cannot keep adding new electrical  demands to home and work without installing extra cables. Switching cars and heating represents big increases in electricity needed which is way beyond present cable capacity.The difficulties of balancing a system with more and more interruptible power allied to the lack of capacity to handle more Scottish wind energy should lead to some new thinking. Energy policy  used to worry about security of supply first, then price and green issues. There needs to be a stronger plan for security. Imports are not a reliable answer as we have seen with the EU gas problems and the shut down of many French nuclear plants.... John Redwood

[lippy4] 12/12/2022 09:16

disaster looking them in the face and they cannot see it,no wind no leccy..

[the white house] 12/12/2022 08:54

Natural Gas prices up 15% odd over the weekendI can confirm all 116 wind turbines 8 miles offshore are static right now

[daniel levi bmd] 12/12/2022 08:06

Posted late last night.

If you missed it.

FYI

Balochistan The Last Great Onshore Oil, Gas & Mineral Resource Play On The Planet.... Coro Energy *BUY*


Dan
x

[xxxxxy] 11/12/2022 18:05

Net Zero isn't working. It has made the energy crisis worse. Millions of people around the UK are poorer, colder and hungrier. British manufacturing is being hammered. Over 80% of the population will ration their energy this winter and cold homes will kill thousands.A huge number of jobs have already gone overseas. In 2013 over 230,000 people were employed in offshore oil and gas. It's fallen to 130,00 people today. Car giant BMW are moving production of their electric Minis to China, where energy is cheap. And Net Zero rules are threatening to close our largest steel plant.This is an utter disgrace. We have trillions of cubic metres of shale gas under our feet. This national treasure would solve our energy crisis and help reduce CO2 emissions.We all care about the environment and we want clean air. We also want a safe and secure future for our children. But the Government bet the house on renewable energy and they never had a plan. They don't know the cost and they can't be trusted.It didn't have to be like this. We share the North Sea oil and gas fields with Norway. Our governments squandered these resources while the Norwegian Government invested in them. Now they have a sovereign wealth fund worth $1.3 trillion which owns a chunk of Regent Street. Norway has also become the main oil and gas supplier to the UK.Labour and the Tories turned us from being a net exporter of energy into a large net importer. This is a strategic disaster and has compromised our national security.... Richard Tice

[adg] 11/12/2022 12:17

They can’t because they are a deluded brainwashed programmed agenda driven bunch of fantasists and totally misguided blinkered lunatics…̷0;…

I am an engineer of almost 40 years - because of likely high energy prices for the foreseeable I just looked in detail again at solar with battery and also ran the slide-rule over whether heat pumps were a realistic proposition - both an utter waste of time and (ironically) “energy”
If you need a new boiler and you have room for an oil tank…. the best solution imho right now is (ironically again) an oil fired boiler !!!!

[xxxxxy] 11/12/2022 09:54

John Redwood@johnredwoodThis morning solar and wind has slumped to just 4% of our electricity with gas,coal and wood at 73%. Those who say rely on wind turbines need to explain what we do when the wind does not blow instead of telling us to close all the generators that keep the lights on.7:28 am · 11 Dec 2022