Europe’s biggest oil company will plant millions of trees as part of a $300 million plan to reduce its carbon footprint. Royal Dutch Shell said that it also would give motorists the option of paying more for fuel to fund projects offsetting the emissions that they would generate by driving. The one cent per litre voluntary levy is being launched in the Netherlands this month and will be rolled out at Shell’s petrol stations in Britain this year. The Anglo-Dutch energy group employs about 80,000 people worldwide. It reported profits of $24 billion last year, mainly from producing and selling oil and gas. Shell is investing up to $2 billion a year in clean energy to help to tackle climate change and last year it said that it would link executive pay with curbing emissions.
Times 9th April 2019 read more »
Telegraph 8th April 2019 read more »
FT 8th April 2019 read more »
Western Europe’s biggest petroleum producer is falling out of love with oil. To the dismay of the nation’s powerful oil industry and its worker unions, the opposition Labor Party over the weekend decided to withdraw its support for oil exploration offshore the sensitive Lofoten islands in Norway’s Arctic, creating a solid majority in parliament to keep the area off limits for drilling. The dramatic shift by Norway’s biggest party is a significant blow to the support the oil industry has enjoyed, and could signal that the Scandinavian nation is coming closer to the end of an era that made it one of the world’s most affluent.
Bloomberg 8th April 2019 read more »