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I was the Chancellor who introduced an extra tax on the oil and gas companies. The right hon. and learned Gentleman talks about working people, but he voted against legislation to stop strikes disrupting working people, and he voted against legislation to stop extremist protesters disrupting working people, because he is not on the side of working people; that is what the Conservatives are for.
I was the Chancellor who introduced an extra tax on the oil and gas companies. The right hon. and learned Gentleman talks about working people, but he voted against legislation to stop strikes disrupting working people, and he voted against legislation to stop extremist protesters disrupting working people, because he is not on the side of working people; that is what the Conservatives are for.
The problem is that the Prime Minister could not stand up to a run-of-the-mill bully, so he has no chance of standing up to vested interests on behalf of working people. Take Shell, which made record profits this year of £26 billion. How much has it paid under his so-called windfall tax?
I welcome the Minister to her new role. As we all know, Shell is making windfall profits—more than double those last year. Despite that, it is not paying a penny of the UK’s windfall tax, because of a get-out clause that obscenely incentivises new oil and gas extraction in the UK. Given that we know that drilling for more fossil fuels is incompatible with the target of 1.5°C to avert climate catastrophe, will the Government now remove that loophole?
I welcome the Minister to her new role. As we all know, Shell is making windfall profits—more than double those last year. Despite that, it is not paying a penny of the UK’s windfall tax, because of a get-out clause that obscenely incentivises new oil and gas extraction in the UK. Given that we know that drilling for more fossil fuels is incompatible with the target of 1.5°C to avert climate catastrophe, will the Government now remove that loophole?
All matters of tax are for His Majesty’s Treasury, but it is clear that all our formerly fossil fuel companies are indeed energy companies, and they are investing incredibly heavily across the piece in renewables as well. We will continue to work with them to ensure that they invest their profits wisely.
All matters of tax are for His Majesty’s Treasury, but it is clear that all our formerly fossil fuel companies are indeed energy companies, and they are investing incredibly heavily across the piece in renewables as well. We will continue to work with them to ensure that they invest their profits wisely.
All matters of tax are for His Majesty’s Treasury, but it is clear that all our formerly fossil fuel companies are indeed energy companies, and they are investing incredibly heavily across the piece in renewables as well. We will continue to work with them to ensure that they invest their profits wisely.
I welcome the Minister to her new role. As we all know, Shell is making windfall profits—more than double those last year. Despite that, it is not paying a penny of the UK’s windfall tax, because of a get-out clause that obscenely incentivises new oil and gas extraction in the UK. Given that we know that drilling for more fossil fuels is incompatible with the target of 1.5°C to avert climate catastrophe, will the Government now remove that loophole?
I have said repeatedly that it is absurd to suggest that bringing in gas from abroad, for instance, with higher emissions attached to that and paying billions of pounds for it, is sensible when we can produce it at home. That is why we incentivise investment in the North sea. It is declining, it is a managed decline, and it is compatible with net zero. It is about time that the hon. Lady backed the British economy and British jobs, and did not play politics with this issue.
I have said repeatedly that it is absurd to suggest that bringing in gas from abroad, for instance, with higher emissions attached to that and paying billions of pounds for it, is sensible when we can produce it at home. That is why we incentivise investment in the North sea. It is declining, it is a managed decline, and it is compatible with net zero. It is about time that the hon. Lady backed the British economy and British jobs, and did not play politics with this issue.
Shell and BP have announced bumper profits while they have also benefited from a loophole put in place by the now Prime Minister which means they secure taxpayer support for drilling oil in our North sea. Does the Minister think that that is a good decision or a bad decision ahead of the COP27 summit?
Shell and BP have announced bumper profits while they have also benefited from a loophole put in place by the now Prime Minister which means they secure taxpayer support for drilling oil in our North sea. Does the Minister think that that is a good decision or a bad decision ahead of the COP27 summit?
Shell and BP have announced bumper profits while they have also benefited from a loophole put in place by the now Prime Minister which means they secure taxpayer support for drilling oil in our North sea. Does the Minister think that that is a good decision or a bad decision ahead of the COP27 summit?
I have said repeatedly that it is absurd to suggest that bringing in gas from abroad, for instance, with higher emissions attached to that and paying billions of pounds for it, is sensible when we can produce it at home. That is why we incentivise investment in the North sea. It is declining, it is a managed decline, and it is compatible with net zero. It is about time that the hon. Lady backed the British economy and British jobs, and did not play politics with this issue.
To ask the Chancellor of the Exchequer, with reference to the $9.5 billion quarter three profits reported by Shell and reported comments from that company’s CEO that it is ready for further windfall taxation, if he will make an assessment of the potential merits increasing the Energy Profits Levy.
To ask the Chancellor of the Exchequer, with reference to the $9.5 billion quarter three profits reported by Shell and reported comments from that company’s CEO that it is ready for further windfall taxation, if he will make an assessment of the potential merits increasing the Energy Profits Levy.
The Energy Profits Levy (EPL) was introduced from 26 May in response to sharp increases in oil and gas prices over the past year and to help fund cost of living support for UK households.
The EPL is an additional 25 per cent surcharge on UK oil and gas profits, taking the combined headline tax rate for oil and gas companies operating in the UK and on the UK Continental Shelf to 65 per cent, more than triple the rate paid by other businesses.
As with all taxes, this is kept under review. It would not be appropriate for the Government to comment on the affairs of individual taxpayers.
To ask the Secretary of State for Environment, Food and Rural Affairs, if he will make an assessment of the potential impact of Shell's proposal to commence seismic blasting on the Wild Coast of South Africa on (a) whales and (b) other marine life in that area.
To ask the Secretary of State for Environment, Food and Rural Affairs, if he will make an assessment of the potential impact of Shell's proposal to commence seismic blasting on the Wild Coast of South Africa on (a) whales and (b) other marine life in that area.
The issue of seismic exploration off the east coast of South Africa is before the judiciary in South Africa. The UK will continue to track developments.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of Shell developing the Jackdaw gas field with the (a) decarbonisation targets for industry as described in the North Sea Transition Deal, (b) UK’s carbon budgets and net zero target...
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of Shell developing the Jackdaw gas field with the (a) decarbonisation targets for industry as described in the North Sea Transition Deal, (b) UK’s carbon budgets and net zero target...
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 18 May 2022 to Question 418, on Offshore Industry: Carbon Emissions, what assessment the Government has made of the Jackdaw project's compatibility with targets for the oil and gas sector set out in...
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 18 May 2022 to Question 418, on Offshore Industry: Carbon Emissions, what assessment the Government has made of the Jackdaw project's compatibility with targets for the oil and gas sector set out in...
I refer the hon. Member to the answer I gave him on 18 May 2022 to Question 418.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of the Jackdaw fossil fuel development proposed by Shell with the decarbonisation targets for industry in the North Sea Transition Deal.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of the Jackdaw fossil fuel development proposed by Shell with the decarbonisation targets for industry in the North Sea Transition Deal.
Development proposals for oil fields under existing licences are a matter for the regulators - the North Sea Transition Authority and the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED). As part of that regulatory process, OPRED complete an Environmental Impact Assessment and a public consultation on any proposal. OPRED’s decision on the Environmental Impact Assessment for Jackdaw will be made in due course.
The emissions reduction targets in the North Sea Transition Deal are monitored by the North Sea Transition Authority. Emissions from any new fields as production comes on stream would be taken into account in continuing to ensure the targets in the Deal are met.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of Shell's proposed Jackdaw Field Development with the UK's (a) international climate obligations and (b) net-zero target.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of Shell's proposed Jackdaw Field Development with the UK's (a) international climate obligations and (b) net-zero target.
Development proposals for oil fields under existing licences are a matter for the regulators - the North Sea Transition Authority and the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED). As part of that regulatory process, OPRED completes an Environmental Impact Assessment and a public consultation on any proposal, ensuring the impact on the environment is taken into account. OPRED’s decision on the Environmental Impact Assessment for Jackdaw will be made in due course.
The emissions reduction targets in the North Sea Transition Deal (NSTD) are monitored by the North Sea Transition Authority, emissions from any new fields as production comes on stream would be taken into account in continuing to ensure the targets in the Deal are met.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of Shell's proposed Jackdaw Field Development with the decarbonisation targets for industry in the North Sea Transition Deal.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of Shell's proposed Jackdaw Field Development with the decarbonisation targets for industry in the North Sea Transition Deal.
Development proposals for oil fields under existing licences are a matter for the regulators - the North Sea Transition Authority and the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED). As part of that regulatory process, OPRED completes an Environmental Impact Assessment and a public consultation on any proposal, ensuring the impact on the environment is taken into account. OPRED’s decision on the Environmental Impact Assessment for Jackdaw will be made in due course.
The emissions reduction targets in the North Sea Transition Deal (NSTD) are monitored by the North Sea Transition Authority, emissions from any new fields as production comes on stream would be taken into account in continuing to ensure the targets in the Deal are met.
Thank you, Madam Deputy Speaker.
The annual profits of oil giant Shell were £12 billion. BP’s profits were £9.5 billion. The company’s boss said that his pay had more than doubled to just under £5 million, and then the company complained that it is
“getting more cash than we know what to...
Thank you, Madam Deputy Speaker.
The annual profits of oil giant Shell were £12 billion. BP’s profits were £9.5 billion. The company’s boss said that his pay had more than doubled to just under £5 million, and then the company complained that it is
“getting more cash than we know what to...
It is a pleasure to rise to speak in this debate, and to be the last Member on the Conservative Benches to do so, because it has given me the opportunity to listen to the entire debate, and what an interesting debate it has been.
We have heard that the Liberal...
It is a pleasure to rise to speak in this debate, and to be the last Member on the Conservative Benches to do so, because it has given me the opportunity to listen to the entire debate, and what an interesting debate it has been.
We have heard that the Liberal...
To ask the Chancellor of the Exchequer, if he will make an assessment of the effectiveness of Government fiscal policy in the context of the level of corporation tax paid by (a) Shell and (b) BP in the last three years.
To ask the Chancellor of the Exchequer, if he will make an assessment of the effectiveness of Government fiscal policy in the context of the level of corporation tax paid by (a) Shell and (b) BP in the last three years.
It would not be appropriate for the Government to comment on the affairs of individual taxpayers.
To ask the President of COP26, for what reason Shell were not invited to COP26.
To ask the President of COP26, for what reason Shell were not invited to COP26.
As COP26 Presidency, we are working to encourage the innovation and commitment of everyone – people, business, countries, cities and regions – as we move the global economy to net zero emissions. This includes a wide range of energy companies.
The COP26 Presidency is working most closely with organisations that have strong climate credentials – that means companies which have committed to achieving net zero by 2050, have published a 5-10 year plan of action on how they will do this, and committed to Science Based Targets or joined the UN-backed Race to Zero.
Every country is responsible for choosing its own delegates and the UNFCCC was responsible for all accreditation to COP26.
To ask the President of COP26, if he will invite representatives of Royal Dutch Shell to COP26.
To ask the President of COP26, if he will invite representatives of Royal Dutch Shell to COP26.
The UK Presidency did not invite Shell under the UK Delegation. As COP26 Presidency, we are working to encourage the innovation and commitment of everyone – people, business, countries, cities and regions – as we move the global economy to net zero emissions. This includes a wide range of energy companies.
The COP26 Presidency is working most closely with organisations that have strong climate credentials – that means companies who have committed to achieving net zero by 2050, have published a 5-10 year plan of action on how they will do this, and committed to Science Based Targets or joined the UN-backed Race to Zero.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the compatibility of the Solar fossil fuel development proposed by Shell with the UK’s target to achieve net zero by 2050.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the compatibility of the Solar fossil fuel development proposed by Shell with the UK’s target to achieve net zero by 2050.
All previously licensed fields are accounted for in terms of projected production and estimated emissions and the Government is confident that they can be developed, even as the UK seeks to achieve its commitment to net zero by 2050.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of (a) the Government's criteria for COP26 sponsors that companies should have set ambitious net zero commitments by 2050 or earlier, with a credible short-term action plan to achieve this...
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the compatibility of (a) the Government's criteria for COP26 sponsors that companies should have set ambitious net zero commitments by 2050 or earlier, with a credible short-term action plan to achieve this...
The Government has set strict sponsorship criteria for COP26 and will partner with companies who have set ambitious net zero commitments by 2050 or earlier, with a credible short-term action plan to achieve this. The Government will continue to talk to a wide range of companies as part of wider COP26 policy engagement to move the global economy to net zero emissions.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what the outcomes were of the bilateral discussions between UK, German and Dutch Government officials on the Shell proposal to decommission Brent rigs Alpha, Bravo, Charlie and Delta; and whether a record of those meetings will be published.
To ask the Secretary of State for Business, Energy and Industrial Strategy, what the outcomes were of the bilateral discussions between UK, German and Dutch Government officials on the Shell proposal to decommission Brent rigs Alpha, Bravo, Charlie and Delta; and whether a record of those meetings will be published.
The meetings with officials from Germany and the Netherlands took place earlier in the year, following the OSPAR Special Consultative Meeting. The meetings were constructive and focussed on possible ways forward to address their concerns. As these meetings were informal, there was no intention to record or publish the discussions.