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Police Confirm Attack On Shell Facility In Nigeria

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Screen Shot 2016-06-07 at 23.34.38By Lincoln Brown – Jun 24, 2016

Police in the area of Imo in Nigeria have confirmed that there has been an attack on a Shell Petroleum Development Company (SPDC) facility there. The attack, which was in the Ohaji/Egbema Local Government area took place early Thursday.

One source told the News Agency of Nigeria that the attack came at 5:30 in the morning and reported an explosion that created a great deal of flame. That source could not confirm if anyone was killed in the incident.

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Oil Prices and the Brexit: What Just Happened

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IMAGE SOURCE: GETTY IMAGES.

By Matthew Dilallo: 24 June 2016

What: Crude prices tumbled on Friday after Britain’s stunning decision to leave the European Union. By mid-afternoon, oil was down 4.5% and back below $50 a barrel. The sell-off washed over into oil stocks, with British giants BP (NYSE:BP) and Royal Dutch Shell (NYSE:RDS-A)(NYSE:RDS-B) both following crude downward by more than 5% as of 12:30 p.m. EDT.

Those moves, however, were tame compared to the sell-offs of other European oil stocks, with Statoil (NYSE:STO) and Total (NYSE:TOT) down nearly 6% and 9%, respectively. Even large independent U.S. oil companies were taking it on the chin, with ConocoPhillips (NYSE:COP) just one among the many oil stocks sliding in parallel with the price of crude.

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Dutch government lowers Groningen gas output cap to 24 bcm

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Reuters: Friday, June 24, 2016

THE HAGUE, June 24 The Dutch government said on Friday it would lower the cap on production at the Groningen gas field, which has supplied up to 10 percent of European demand, to 24 billion cubic metres a year for the next five years.

The decision to lower the ceiling from 27 bcm, beginning on Oct. 1, follows a recommendation by the Dutch National Mines Inspectorate.

The Dutch government has been steadily reducing output at Groningen, prompted by a spate of earthquakes linked to production that caused extensive property damage in the northern province.

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Goldman Sachs Says Oil Isn’t Recovering

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By James Burgess – Jun 15, 2016

Goldman Sachs has rejected analysts’ opinions that the global oil market is recovering, noting that while it expects a “modest” deficit in the coming months based on the slight rebound in oil prices, the market will again be in a state of surplus by early next year.

It may seem as if oil is recovering on the back of supply disruptions that have helped to chip away at the global glut and push prices close to $50, but Goldman says that in the best-case scenario this isn’t a rebound—it’s just the first signs of one.

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Brexit and Brent

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Screen Shot 2016-05-30 at 15.37.19By Ed Crooks: June 24, 2016

In the market maelstrom that followed the UK’s referendum vote to leave the EU, the oil price took some collateral damage, with Brent crude dropping below $48 for the first time in a week. As the country sat up to watch the results come in, National Grid had to cope with the largest ever spike in night-time electricity demand.

The longer-term implications of Brexit for energy in the UK and Europe, like most other consequences of the decision, are highly uncertain. Politico and others sketched out some of the main issues, with news outlets taking a range of differing perspectives. Norton Rose Fulbright published an excellent primer, focusing on some of the key legal questions. BusinessGreen rounded up reaction from environmental campaigners and renewable energy businesses. Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change, suggested before the result was known that a vote for Brexit would mean the Paris agreement on tackling global warming would “require recalibration”.

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Shell says will work with UK, EU on Brexit implications

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Business | Fri Jun 24, 2016 3:07am EDT

Royal Dutch Shell (RDSa.L) said it will work with the British government and European institutions on any implications for its business from Britain’s decision to leave the European Union, a spokesman said on Friday.

Shell, which was in favor of Britain remaining part of the EU, said its priority was to continue supplying energy to customers in Europe and the United Kingdom.

“We will work with the UK government and European institutions on any implications for us,” a spokesman said.

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The sustainability of Royal Dutch Shell’s dividend

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It is not quite true to say that the stock market is relying on the Royal Dutch Shell dividend, but since the oil company accounts for over a tenth of the total dividends paid by UK companies, a cut would be quite a shock. The shock would be terminal for Ben van Beurden, since the Shell CEO would have broken the promise made during the takeover of BG Group.

FULL FT ARTICLE

Royal Dutch Shell Has Served Notice – The Deepwater Drillers Are In Big Trouble

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June 23, 2016

Screen Shot 2016-05-21 at 10.18.28Summary

  • Eighteen months ago Shell was considering exiting shale plays and focusing on its deepwater and LNG opportunities.
  • Shell’s recent analyst day presentations revealed a company that is shifting its long term focus towards shale.
  • We think that going forward the offshore drilling rig companies have major long term challenges and investors need to be aware that pre-crash cash flows aren’t coming back.

For the small sliver of global oil production that U.S shale oil actually represents it certainly has been a disruptive force.

Total shale production (there is no significant amount outside of the United States) is currently somewhere around 4.5 million barrels per day.

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That is not much more than four percent of total current production which checks in at over 96 million barrels per day.

After having a look at Shell’s (NYSE:RDS.A) 2016 capital markets day presentation we think shale oil is going to become even more disruptive going forward for a select group of companies.

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Shell’s Ambitious Plan To Topple Exxon

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By Rakesh Upadhyay – Jun 22, 2016, 5:17 PM CDT

Ben Van Beurden, Chief Executive Officer of Royal Dutch Shell has laid out an ambitious plan to overtake ExxonMobil as the number one oil company in the world.

Prior to the 1990s, Shell was the leader in total shareholder returns, however, its rivals went on a deal-making spree to gain the lead, while Shell shied away from making any acquisitions. Now, Mr. Beurden believes that Shell will be able to regain its lost glory post the acquisition of the BG group.

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Shell works to simplify organization to compete with independents

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By Mella McEwen [email protected]: 22 June 2016

Too big. Too rigid. Not nimble enough.

Those are reasons why integrated oil companies could have a difficult time competing with independents in the unconventional shale plays that have led to a resurgence in the nation’s oil and gas industry.

Royal Dutch Shell, however, disagrees with that reasoning and this week held an event to reaffirm its commitment to the shales business, including its holdings in the Permian Basin.

Shell officials discussed how its recent $70 billion acquisition of the BG Group has impacted its outlook. The event was a mixer at Shell’s Drilling Automation & Remote Technology (DART) Center located on its Houston campus and was webcast and available by telephone.

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Shell Canada approved to resume drilling off Nova Scotia

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By Brett Ruskin, CBC News Posted: Jun 22, 2016 

Nova Scotia’s offshore regulator has given Shell Canada permission to resume drilling the first of two exploratory wells, following an incident earlier this year which saw a two-kilometre-long pipe to fall to the ocean floor.

The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) said drilling can resume Wednesday, but Shell Canada faces new restrictions that will remain in place until the regulator completes further reviews.

Shell Canada’s contracted drill ship, the Stena IceMAX, will now have to disconnect from the sub-sea well head once waves reach five metres in height. Previously, the limit was eight metres.

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Dutch Winter Gas Rises to Six-Month High Before Output Decision

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Screen Shot 2016-06-22 at 10.28.33Netherlands may decide on Groningen field production on Friday

By Rob VerdonckFred Pals: June 22, 2016 – 11:17 AM BST

Dutch natural gas advanced to the highest since December before a government decision on production from Europe’s biggest field expected on Friday.

The winter contract, for the six months from October, gained as much as 5.1 percent, according to broker data compiled by Bloomberg. Dutch Economy Minister Henk Kamp expects the government to decide on output from the Groningen field on Friday, the ANP news agency reported late Tuesday after De Telegraaf newspaper said gas extraction linked to earthquakes would be curbed by another 11 percent.

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Dutch agency calls for further cut in Groningen gas production

Screen Shot 2016-06-22 at 10.29.52The agency declined to comment.

The Cabinet is expected to announce its production plans for the field for the period after Oct. 1, 2016 on Friday, after several cuts in the past year have left it at the rate of 27 bcm on an annualized basis.

The final decision will be based on the recommendations from the agency, Groningen’s operator NAM, a joint venture of Royal Dutch Shell and Exxon, and six other parties.

A majority of lawmakers Dutch parliament have called for production to be cut as far as possible to reduce earthquakes in the northern province caused by the gas extraction.

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Oil Explorers Embrace the Sharing Economy to Drill Cheaper Wells

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Screen Shot 2016-06-07 at 23.34.38By Rakteem KatakeyJune 22, 2016 — 12:01 AM BST

The biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible.

In this global effort, one of the world’s most expensive oil regions intends to lead the way. Last month companies operating in the North Sea started pooling spare parts and tools, and they are even sharing plans on how to drill wells so they can work faster and cheaper, said Paul Goodfellow, Royal Dutch Shell Plc’s vice president for the U.K. and Ireland.

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This is a big change from oil’s boom, when costs weren’t such an issue as long as $100-a-barrel crude kept flowing. As companies focus on adapting to prices closer to $50 by making their spending less wasteful, they also aim to boost profitability for years to come by keeping costs low as markets recover.

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Shell Sees Strong Potential for Permian Basin Assets

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Bruce Palfreyman, general manager of Shell’s Permian asset group, said the company believes it has the best position in the Delaware, part of the Permian Basin in West Texas, in terms of size and rock quality. The company holds 300,000 net acres in the Delaware through its joint venture with Anadarko Petroleum Corp., with more than 5,000 future well locations on a risk basis.

Shell acquired the acreage in 2012 from Chesapeake Energy, and has spent the past three years maturing and de-risking the acreage, Palfreyman told reporters during a media event Monday in Houston to outline Shell’s strategy on its unconventional oil and gas business. The company has pursued a high-grade strategy for its Permian acreage, selling off peripheral acreage. Shell’s position in the Delaware contains 2 billion barrels of oil.

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Russia’s Gazprom eyes asset swap deals with Shell, OMV by year-end

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ST PETERSBURG, RUSSIA | BY DENIS PINCHUK AND DMITRY ZHDANNIKOVMon Jun 20, 2016 8:29am EDT

Russia’s state-controlled gas giant Gazprom (GAZP.MM) could gain control over some of the assets that Shell (RDSa.L) acquired earlier this year from BG group, a senior Gazprom executive said in an interview.

Gazprom’s Deputy Chief Executive Alexander Medvedev said the BG holdings could be included in an asset swap deal between Gazprom and Shell that was announced last year. He did not say what the BG holdings were or where they were located.

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Shell puts revamped shale arm at heart of growth drive

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Having turned round its North American shale business, Royal Dutch Shell (RDSa.L) is putting so-called unconventional energy at the heart of its growth plans, and believes lessons from the revamp can be applied across the company.

Greg Guidry, head of the Anglo-Dutch group’s unconventionals business, told Reuters a drive to slash costs and streamline decision-making had put his division largely on a par with leading rivals in terms of productivity and efficiency.

And now the rest of Shell could reap the benefits too.

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Militancy: Shell Suspends Further Repairs, Clean Up

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Militants of the Movement for the Emancipation of the Niger Delta travelling between camps. Photograph: Veronique de Viguerie/Getty Images

June 19, 2016

Sopuruchi Onwuka

Screen Shot 2016-05-21 at 10.18.28Shell Petroleum Development Company (SPDC) Limited has declared suspension of further interventions in pipeline repairs and environmental remediation in Niger Delta following relentless attacks on facilities by militants in the region.

The decision which has grim implication on government revenue, according to the company, followed second attack on the company’s Forcados export pipeline just after repairs on the first damages by militants on the offshore section of the line.

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Carbon capture: UK pays firms £30m despite scrapping projects

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Terry Macalister Energy editor: Sunday 19 June 2016

The government has handed out almost £30m to Shell and other companies for work on carbon capture and storage (CCS) despite scrapping their projects that could have played a role in beating climate change.

The National Audit Office is already investigating the way CCS has been handled but a spokesperson for the Department of Energy and Climate change said the latest tranche of cash to Shell and Drax was necessary and the knowledge could be put to good use.

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Shell spends N39 billion on social investment in Nigeria in 2015 – Official

Screen Shot 2016-06-20 at 08.19.00June 19, 2016: Premium Times

The Managing Director, Shell Group of Companies in Nigeria, Osagie Okunbor, on Sunday said that the group spent no less than $195.5 million (N39 billion) on social investments in the country in 2015.

Mr. Okunbor, who is also Shell Country Chair, disclosed this in an interactive session with newsmen in Lagos.

He said the amount made Nigeria the largest concentration of social investments spending in the Shell Group.

He said that $145.1million of this amount was paid to the Niger Delta Development Commission (NDDC) as required by law.

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Report: Shell’s Martinez refinery could be sold

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By Sam Richards , [email protected]

Screen Shot 2016-05-21 at 10.18.28MARTINEZ — Two published reports Friday say the Shell Martinez Refinery is up for sale, prompted by what are expected to be crude oil prices rising faster than gas prices at the pump.

The reports, one of them from the international news agency Reuters, say the Netherlands-based global energy company Royal Dutch Shell is looking to shed some of its smaller, less profitable refineries ahead of the anticipated price hike for crude.

The Reuters story said Shell and at least three other major oil companies, including San Ramon-based Chevron, have seen dropping profit margins from their refining operations since a peak in 2015 and want to shed some lower-profit operations before crude oil prices rise much further from recent low levels.

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Shell Midstream Partners

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No. 10: Pipeline spinoff gets off to a robust start

Robert Grattan, Houston Chronicle: June 18, 2016

Royal Dutch Shell owns one of the United States’ essential pipeline networks, transporting oil and gas from the seafloor of the Gulf of Mexico to its refineries and beyond.

But for decades, that network was a secondary interest for investors, most of whom focused on Shell’s global drilling and refining operations. So in late 2014, Shell set out to push those pipelines out of the background by spinning off Shell Midstream Partners as a public company, in which Shell holds a controlling interest.

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Short term strength

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By Ed Crooks: June 17, 2016

This week has brought evidence of contrasting short-term and long-term trends in the oil market. In the short term, demand and supply are both turning out to be stronger than many had expected. The IEA revised up its forecast for oil demand growth this year in its monthly oil market report, but added that rising production would mean global oversupply could persist into 2017.

There are early indications of an upturn in activity in the US shale industry, still faint so far, but ominous for anyone relying on a sharp rebound in crude. And Iran said its oil production had reached 3.8m barrels per day, confirming the strong growth following the lifting of sanctions that was already visible last month. Iran’s oil exports have tripled since late 2015.

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Global oil majors look to shed refineries as crude prices rebound

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NEW YORK | BY JESSICA RESNICK-AULTFri Jun 17, 2016

Global oil majors Chevron Corp and Royal Dutch Shell Plc are putting small refineries on the auction block as they look to trim lower-margin assets in the face of headwinds from rising crude oil prices.

Chevron, the second largest U.S. oil company, is soliciting interest in its Burnaby, British Columbia, refinery and gasoline stations, the company told Reuters. Shell is looking for buyers for its Martinez, California, refinery, two people familiar with the situation told Reuters. Shell declined to comment.

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Latin America must safeguard energy investors: industry leaders

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Thu Jun 16, 2016 5:48pm EDT

Latin America offers ample opportunities for the energy sector, but governments must make changes to protect investors from legal headaches, industry leaders at the World Economic Forum’s Latin America meeting in Colombia said on Thursday.

Judicial rulings regularly halt energy and mining operations in countries including Colombia, sparking worries that legal tangles would spook foreign investors as many Latin American countries battle high inflation and slowing economic growth.

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Gazprom and Shell committed to broader cooperation in LNG sector

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Gazprom and Shell committed to broader cooperation in LNG sector

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Greenpeace image relating to Shell/Russia Arctic Drilling Plans

June 16, 2016, 17:30

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Shell, took place today at the St. Petersburg International Economic Forum 2016.

The parties discussed the progress of and prospects for strategic cooperation in the LNG sector, paying particular attention to the construction project for the third production train of the LNG plant on Sakhalin Island (Sakhalin II project). Design and FEED documentation are currently being prepared for the new production train.

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Western leaders, CEOs visit Russia amid sanctions fatigue

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Shell CEO Ben van Beurden bows to President Putin of Russia.

NATALIYA VASILYEVA, ASSOCIATED PRESS: June 15, 2016 Updated: June 16, 2016 1:29pm

Following a meeting with Putin, Royal Dutch Shell’s CEO Ben van Beurden and state-owned gas giant Gazprom announced plans to build an LNG plant in Russia together. France’s Total is working with Russia’s largely private gas producer on a liquefied natural gas project.

The fact that the CEOs of top American companies have in a sense defied their government shows that they put their business interests before any political considerations, analysts say.

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Militants Claim Responsibility for Another Attack in Nigeria

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By Staff WriterJun 16, 2016

Oil majors including Chevron Corporation (NYSE:CVX) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A) heaved a sigh of relief when militant group, Niger Delta Avengers (NDA) agreed to hold peace talks with the Nigerian government. However, the relief was short-lived when on Thursday the militant group claimed to have blown up another pipeline owned by the Nigerian National Petroleum Corporation (NNPC).

The attack comes as a great setback for oil producers and the Nigerian government as the militant group had agreed to hold talks with them, provided certain conditions were met. The NDA tweeted from one of its unverified accounts:

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Gazprom, Shell to invest $13 bln in projects in Russia – Russian Energy Minister

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Shell CEO Ben van Beurden bows to Russian President Putin at the Kremlin: April 2014

Thu Jun 16, 2016

ST PETERSBURG, Russia, June 16 (Reuters) – Energy major Shell and Russia’s gas major Gazprom will jointly invest $13 billion in three projects in Russia, Russian Energy Minister Alexander Novak said on Thursday.

Novak said that Shell would take part in the development of Gazprom’s Yuzhno-Kirinskoye gas field offshore Russia’s Sakhalin island in the Pacific.

The two companies will also jointly invest in the Baltic Sea Liquefied Natural Gas plant and in the Sakhalin-2 LNG plant expansion.

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Gazprom, Shell sign memo on Baltic LNG project

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Shell CEO Ben van Beurden bows to President Putin

Thu Jun 16, 2016 8:11am EDT

Gazprom and Shell signed on Thursday a memorandum of understanding on construction of a liquefied natural gas (LNG) plant on the Russian coast of the Baltic Sea.

The memorandum says the companies will look into possibilities of building the LNG plant in the port of Ust-Luga with an annual capacity of 10 million tonnes.

Gazprom and Shell are already partners in Russia’s only LNG plant on the Pacific island of Sakhalin which has a capacity of 10 million tonnes per year.

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Shell & Gazprom agree Baltic LNG project

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Screen Shot 2016-05-21 at 10.18.2816 June 2016 

Russia’s Gazprom and Anglo-Dutch energy major Shell have inked a letter of understanding to begin a liquefied natural gas project at the Russian port of Ust-Luga on the Baltic Sea.

CEOs Aleksey Miller and Ben van Beurden signed the agreement at the 20th International Economic Forum in St. Petersburg.

The project aims to diversify Gazprom’s LNG sales operations and to boost its LNG portfolio.

The enterprise will reportedly include a two-train LNG plant as well as a pipeline connected to the Gazprom network. The Baltic LNG Plant will have a capacity of about 10 million tons of gas annually with an option to expand to 15 million tons. The new plant will start operating in December 2021.

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Russia’s Putin says Shell is long-term, reliable partner

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Screen Shot 2016-05-21 at 10.18.28Thu Jun 16, 2016 11:29am GMT

ST PETERSBURG, Russia, June 16 (Reuters) – President Vladimir Putin said on Thursday Royal Dutch Shell was a long-term and reliable partner for Russia.

Putin, who is attending the annual St Petersburg International Economic Forum, made his remarks after Shell CEO Ben van Beurden asked the Russian leader to help support the company’s Russian business.

Van Beurden said Shell had made a lot of progress in its Sakhalin-2 LNG project with Russian gas giant Gazprom.

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Royal Dutch Shell plc (ADR) to Increase Exposure to LNG Market

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By Staff WriterJun 15, 2016

Royal Dutch Shell plc (ADR) (NYSE:RDS.A) plans to further strengthen its foothold in the liquefied natural gas (LNG) market, as according to Reuters, the company will sign the Baltic LNG project deal with Russian energy giant, Gazprom in the coming days. The multi-billion dollar deal with London-based BG Group has already increased the company’s exposure to the LNG segment.

According to news sources, Shell CEO, Ben van Beurden, will sign the deal at the International Economic Forum in St. Petersburg. Russian President, Vladimir Putin, is also expected to attend the meeting.

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Dividends higher than pension deficits at FTSE firms

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By Simon Read: Personal finance reporter: 15 June 2016

Some 35 of the biggest UK firms with pension deficits pay more in dividends than their shortfalls, analysis shows.

Pension firm AJ Bell calculated that 54 FTSE 100 companies had paid out £48bn to shareholders a year in the past two years.

That’s almost equal to the total £52bn recorded deficit of their combined pension schemes in 2014.

“The plights of BHS and Tata Steel have brought this into focus,” said Russ Mould, investment director of AJ Bell.

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Shell CEO Faces Long Haul in Bid to Pass Exxon as Top Oil Major

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By Rakteem Katakey: June 15, 2016

Royal Dutch Shell Plc Chief Executive Officer Ben Van Beurden spelled out his main goal last week — surpass Exxon Mobil Corp. to become the best-performing oil major. 

“I am determined to get us to that number one place,” he said after outlining the company’s long-term strategy in London. “I want to create a world class investment case for Shell and our shareholders.” 

There are signs Van Beurden is winning over some investors following his record $54 billion acquisition of BG Group Plc. Shell has closed the gap on Exxon for total shareholder returns, which accounts for share prices, dividend payouts and buybacks, after lagging behind for five years. Still, the Anglo-Dutch explorer trails its U.S. rival on a range of other metrics from return on capital and assets to cash flow.

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Royal Dutch Shell Should Acquire Noble Corporation

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The Value Portfolio: Jun. 15, 2016 2:04 AM ET

Summary

  • Royal Dutch Shell’s capital markets presentation shows the company’s impressive and growing deepwater ambitions.
  • The company is Noble Corporation’s largest customer and represents more than 60% of its backlog.
  • The acquisition of Noble Corporation will bring Royal Dutch Shell returns higher than the present returns it expects to get from deepwater drilling overall.

Introduction

Royal Dutch Shell (NYSE: RDS.A) (NYSE: RDS.B) is an Anglo-Dutch multinational oil & gas company headquartered in the Netherlands and incorporated in the United Kingdom. It is the second-largest publicly traded oil company in the world, with a market cap of just under $200 billion, second only to Exxon Mobil (NYSE: XOM) with a market cap of $378 billion.

Noble Corporation (NYSE: NE) is an offshore drilling contractor also incorporated in London, the United Kingdom. It is the successor of the Noble Drilling Corporation and operates by providing drilling rigs to various oil companies in exchange for contracts. However, since Noble Corporation does not have Royal Dutch Shell’s oil major status, the company has seen its stock price decimated since the start of the oil crash.

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As Shell thrives, Aranguren faces questions

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Tuesday, June 14, 2016

Energy giant Shell is already expanding its business in the sector’s marquee Vaca Muerta formation, echoing other private firms who have gained traction in the country’s oil sector following President Mauricio Macri’s arrival in office six months ago.

But each of Shell’s positive announcements in the country come with an almost automatic question mark — addressing the company’s relationship with its previous CEO and current Energy Minister Juan José Aranguren.

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Royal Dutch Shell, Chevron Corporation: Niger Delta Avengers Agree to Peace Talks

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By Staff WriterJun 14, 2016

Screen Shot 2016-05-21 at 10.18.28Finally, Royal Dutch Shell plc (ADR) (NYSE:RDS.A), Chevron and other oil and gas companies can heave a sigh of relief as the militant group, Niger Delta Avengers has agreed to consider peace talks with the Nigerian government. The group has said that it does not have new demands, as it just wants foreign oil and gas companies to leave the southern region of the Niger Delta and stop oil pollution.

The group said it wants “genuine attitude” by the government and a “conducive atmosphere” to carry out dialogue. This is definitely good news for the Nigerian economy and international energy companies which have suffered badly in the past few months. The Avengers started to attack oil infrastructure in February, when they blew up Shell’s Forcados terminal and under-water pipeline.

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Russia’s Gazprom, Shell to sign deal on Baltic LNG project – Kremlin

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Screen Shot 2016-06-14 at 16.44.45Tue Jun 14, 2016 1:32pm GMT

MOSCOW, June 14 (Reuters) – Russian gas giant Gazprom and oil major Shell will sign a deal on a planned Baltic liquefied natural gas (LNG) project on the sidelines of a forum in St. Petersburg later this week, Kremlin aide Yuri Ushakov told reporters on Tuesday.

He said the deal will be signed in the presence of Russian President Vladimir Putin, who will meet Shell’s Chief Executive Ben van Beurden at the forum.

Gazprom plans to build the plant, which may produce up to 20 million tonnes of LNG per year, by December 2021.

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Nigeria: Shell Loses 130,000 BPD Over Facility Shutdown

Screen Shot 2016-06-14 at 16.35.33Shell confirmed to Reuters that the pipeline suffered a leak but the company has not commented on the cause.

Also a source close to the matter informed Reuters that the line could be offline for at least a week, shutting down about 130,000 barrels per day of production.

The leak comes just as Shell finished repair work on the Nembe Creek Trunk Line. The Nembe line was shutdown in early May after a leak was discovered.

The TNP transports around 180,000 barrels of crude oil per day to the Bonny Export Terminal and is part of the gas liquids evacuation infrastructure that is critical for domestic power generation and liquefied gas exports.

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Much ado about ethane: Why Shell is interested in this gas that goes into many products

Screen Shot 2016-06-14 at 16.25.49By Anya Litvak / Pittsburgh Post-Gazette: June 14, 2016

Ethane, the gas around which Royal Dutch Shell has vowed to build a multibillion-dollar petrochemical mecca in Beaver County, has never been the star of the show.

Since the beginning of Marcellus Shale development a decade ago, ethane has swung between perk and burden. The hydrocarbon is recovered along with methane — the main ingredient of commercial natural gas — and either can be left in the gas stream to boost its energy content or be separated and sold to so-called cracker plants.

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Class action filed against Shell alleging day rate workers weren’t paid overtime

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Wadi Reformado Jun. 13, 2016

HOUSTON – A former well site foreman has filed suit against an oil company alleging he was not paid overtime.

James Reynolds filed a complaint on behalf of others similarly situated on May 6 in the Houston Division of the Southern District of Texas against Shell Oil Co. alleging violation of the Fair Labor Standards Act.

According to the complaint, the plaintiff alleges that between May 2011 and July 2015, he worked for more than 40 hours per workweek but was not paid any overtime compensation in violation of the FLSA.

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BP plc, Royal Dutch Shell: A Major Shift in Energy Industry on its Way

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By Gas By Staff WriterJun 13, 2016 at 11:34 am EST

As awareness about the hazardous effects of fossil fuels is increasing, and governments and environmentalist groups are encouraging the use of renewable energy sources, it seems as if a major change in global energy sector is on its way. Over the past few years, the global energy arena has witnessed a number of changes, as coal has lost its dominant position in the industry, while consumption of renewable energy sources has increased in power generation.

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Nigeria tells oil playboy: hand back our $1,8bn

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Danny Fortson: The Sunday Times: June 5, 2016

A COURT has frozen almost $1.8bn (£1.2bn) in assets owned by a pair of oil tycoons as Nigeria steps up its campaign to recoup tens of billions of dollars funnelled from state coffers under the regime of former president Goodluck Jonathan.

The order, handed down 10 days ago by the High Court in Lagos, offers a glimpse of the extraordinary lifestyle of KolaAluko, 46, and former business partner Jide Omokore. Both rose to fabulous wealth thanks to deals struck with Jonathan’s former oil minister, Diezani Alison-Madueke, who is also being investigated.

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Iran confirms oil shipment for Shell

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By Daniel J. Graeber     |   June 13, 2016

TEHRAN, June 13 (UPI) — A shipment of Iranian crude oil was sold to Royal Dutch Shell and talks are developing with other major oil companies, an Iranian official said Monday.

Royal Dutch Shell paid off its debt to its Iranian counterparts early this year, clearing the way for the company to resume its cooperation with Iran now that sanctions pressures are easing.

Shell Chief Executive Officer Ben van Buerden said in early February the company was eager to settle its debt to Iran as soon as legal mechanisms permit. At the time, the CEO said it was still too early to make any firm commitments in Iran.

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What the future of the petrol station looks like, from renewable energies to driverless cars

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Lauren Davidson12 JUNE 2016 • 11:44PM

It’s a wonder Istvan Kapitany, executive vice-president of retail at Royal Dutch Shell, gets any work done. The view from his office on the 22nd floor of Shell’s headquarters on the South Bank looks out over some of the most impressive landmarks in the capital, including the London Eye and the Palace of Westminster.

Though not at the top level just yet – the Shell Centre has 26 floors – Kapitany has certainly climbed his way through the ranks since joining Shell in 1987 as a petrol station manager in Hungary, his home country.

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Iran ousts director of state-run oil company

Screen Shot 2016-06-13 at 08.51.56By Benoit Faucon: Published: June 12, 2016 4:21 p.m. ET

Iran on Sunday replaced the head of its state-oil company, in a push to attract foreign companies.

Screen Shot 2016-05-21 at 10.18.28Iran has been quicker in resuming sales of its oil to companies in the European Union, after a three-year ban. Royal Dutch Shell recently loaded one Iranian crude oil shipment as a spot cargo, NIOC’s marketing chief Mohsen Ghamsari said in remarks posted on the company’s website. Shell last week declined to comment on market talk about the cargo, which would be the first for Shell from Iran since the lifting of the embargo.

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Shell, Total look to expand terminals and power plants in new markets

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Written by Reporter – 13/06/2016 6:00 am

Oil majors Shell and Total are said to be considering building terminals and power plants in new markets.

The move comes after companies have invested billions in plants to help produce liquefied natural gas (LNG) in place such as the US and Australia.

Laurent Vivier, president for the gas division of Total, said the company was ready to go downstream “as much as it takes” to unlock gas demand.

He said: “We need to be present in downstream ourselves, to create demand and unlock bottlenecks along the chain including regasification, pipeline and power plants.”

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Coming wave of gas puts focus on finding new shores

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Screen Shot 2016-06-06 at 10.26.15LONDON | BY RON BOUSSO AND OLEG VUKMANOVIC: Sun Jun 12, 2016

Energy giants such as Royal Dutch Shell and Total are looking to build terminals and power plants in new markets to soak up the industry’s rapidly burgeoning supply.

Companies have invested billions in plants to produce liquefied natural gas (LNG) in places such as Australia and the United States.

But gas demand growth is slowing, prices are down and the LNG volumes companies are set to produce will exceed those even major buyers such as China and Japan can absorb.

That has turned attention to the downstream market and opportunities to create new markets from Ivory Coast to remote Indonesian islands by building gas-fired power plants, pipelines, regasification and storage terminals.

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Shell set to retreat from North Sea in global asset shakeup

Screen Shot 2016-06-11 at 22.39.18The company has already cut hundreds of jobs from its UK workforce. In the clearest sign yet that Britain’s biggest company will turn its back on the “super mature” North Sea, Shell told investors its planned $30bn sales drive to tackle its debt burden will focus on mature assets in established oil regions.

Shell’s chief executive, Ben Van Beurden, laid out the company’s strategic plan for the rest of the decade, telling shareholders the group plans to leave between five and 10 mature oil regions, which equity analysts have interpreted as a “heavy hint” that UK assets will be included.

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