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 ...

British Oil & Gas major Shell plc (NYSE: SHEL ) reported its Q3 results on October 31, revealing an impressive 12% beat on adj. earnings, which came in at $6.0B, implying just a 3% y/y contraction despite materially lower oil prices and refining margins. With the company's LNG business Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expr ...

Europe's largest oil company, Shell plc (SHEL) , reported third-quarter 2024 earnings per ADS (on a current cost of supplies basis, excluding items — the market's preferred measure) of $1.92. The bottom line came in well above the Zacks Consensus Estimate of $1.72 and improved from the year-earlier quarter's earnings of $1.86 per American Depositary Share (ADS), backed by strong production and higher LNG sales. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. However, Shell's revenues ...