Shell Confident in Position as Emissions Reduction Lawsuit Heads to Dutch Supreme Court

Shell expects artificial intelligence to increase global energy demand as industries adopt the technology, but it could also help decarbonize the energy system, slashing carbon intensity by half by 2050.

As the world's population grows and living standards rise, oil demand is expected to grow into the early 2030s followed by a long, gradual decline, the oil and gas giant said in a new report published Wednesday. Natural gas demand, on the other hand, is projected to increase until the 2040s, playing a key role in replacing coal.

Shell also expects the rapid growth of renewable power to continue, with all of its scenarios indicating that the use of coal for electricity will stop growing by 2030 and natural gas will follow by 2035.

AI and carbon removal technologies are seen as essential in meeting the Paris Agreement's goals of limiting global warming to 1.5 degrees Celsius and achieving net-zero emissions by 2050. Scenarios suggest that the target will be temporarily exceeded in the near term, but the energy transition to net zero is gaining momentum, although the timing remains uncertain.

French engineering company Dolfines A signed a rig inspection framework contract with Petroleum Development Oman, or PDO, according to a Tuesday release.

The five-year deal, with a potential annual turnover of between $200,000 and $500,000, will take effect at the start of October.

British energy giant Shell owns a 34% stake in PDO.

Friends of the Earth Netherlands is taking its climate case against Shell to the country's Dutch Supreme Court, arguing that there needs to be a specific obligation for the company to lower its carbon dioxide emissions.

The climate activist group wants the Netherlands' top court to determine a specific rate for the British oil and gas company's emission reduction after the Court of Appeal only agreed that Shell should stop dangerous climate change.

"Only when the judge establishes a specific objective can we ensure that Shell takes real action," the group wrote in its announcement of the decision, noting that it has a strong case against the company.

Reuters reported on Tuesday that the Supreme Court is expected to rule on the matter in 2026.

Shell did not immediately respond to a request for comment from MT Newswires.

European equities traded in the US as American depositary receipts were higher late Tuesday morning, rising 0.59% to 1,393.03 on the S&P Europe Select ADR Index.

From continental Europe, the gainers were led by Spanish lender Banco Santander and biotech company Evaxion Biotech E, which rose 3.8% and 2.5% respectively. They were followed by software firm SAP and Spanish financial services company Banco Bilbao Vizcaya Argentaria , which were up 2% and 1.9% respectively.

The decliners from continental Europe were led by semiconductor company Sequans Communications and accommodations booking company trivago , which dropped 9.6% and 8.5% respectively. They were followed by biopharmaceutical companies Cellectis and argenx , which were down 2.5% and 2% respectively.

From the UK and Ireland, the gainers were led by oil and gas company Shell and British bank Barclays , which increased 1.7% and 1.5% respectively. They were followed by medical device maker Smith & Nephew and British financial services company HSBC , which were up 1.4% and 1.1% respectively.

The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals B and pharmaceutical company Silence Therapeutics , which fell 16% and 11% respectively. They were followed by biopharmaceutical companies Akari Therapeutics and Bicycle Therapeutics , which lost 7.4% and 3.5% respectively.