Shell

Shell has sold its Nigerian subsidiary to a local consortium for $2.4 billion, exiting onshore, prompting experts to raise environmental and legal concerns.

A group of 27 investors, including Europe’s largest asset manager, have filed a shareholder resolution that calls on Shell to align its operations with the Paris Climate agreement.

The environmental law charity is urging a UK court to reconsider its dismissal of the NGO’s landmark Shell lawsuit against the firm’s board of directors over alleged inaction against climate change.

BP is to acquire Shell’s 27% stake in the offshore Browse gas project, reigniting divisions in Australia’s gas sector.

The world-first Client Earth Shell lawsuit will have a ‘snowball’ effect, prompting other shareholder activist groups to take similar actions, say commentators.