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More North Sea job cuts on the cards at Shell

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Screen Shot 2016-05-05 at 10.07.35BY MARK WILLIAMSON: Thursday 5 May 2016

ROYAL Dutch Shell’s finance chief, Simon Henry, has said there could be more job losses in its North Sea business amid the crude price plunge but the company has no plans to move activity from the Glasgow shared service centre where 450 people work.

As the oil and gas giant posted a 58 per cent fall in first quarter profits, to $1.6 billion (£1.1bn), Mr Henry said Shell wanted to take more cost out of its UK business despite shedding 500 North Sea jobs since the oil price started tumbling in 2014.

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Shell sees slower roll-out of floating LNG

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Mr Henry said Prelude “remains on track to deliver some material cash flow in 2018,” signalling the venture still has some way until start-up.

Angela Macdonald-Smith: Energy Reporter:May 5, 2016

Royal Dutch Shell acknowledges the roll-out of its floating LNG technology will occur much more slowly than anticipated a few years ago, leaving its ground-breaking Prelude venture in WA as potentially its sole FLNG venture for several years.

Shell had targeted a conveyor belt of huge FLNG vessels running of the production line in South Korea, being deployed at remote gas fields worldwide, with several in waters around Asia.

But three projects that could have used five new FLNG vessels have been halted in their tracks, leaving the $US12 billion Prelude venture Shell’s only one for the forseeable future. FLNG ventures planned by other companies in Australia have also fallen foul to cost and price issues.

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Royal Dutch Shell closes some Canadian ops as wildfire consumes 1600 buildings

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by Topher Seguin

A massive wildfire that has forced the evacuation of all 88,000 residents of the western Canadian city of Fort McMurray and burned down 1,600 structures has the potential to destroy much of the town, authorities said.

Fort McMurray had been largely emptied of its residents by Wednesday afternoon, officials said, despite fuel shortages, snarled traffic and a highway closed by the flames in the northeastern part of the province of Alberta, the heart of Canada’s oil sands region.

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Oil giants should ditch high-cost projects, thinktank says

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Terry Macalister Energy editor: Thursday 5 May 2016

These leading energy companies including Exxon Mobil should ditch high-cost projects in deep water and Canadian tar sands to concentrate on cheaper schemes that make money at low crude prices, says the report, Sense and Sensitivity, by the Carbon Tracker Initiative.

The report follows shareholder resolutions calling on oil companies to undertake “stress tests” on operations in the face of stronger carbon regulation and weakening fossil fuel demand as countries move to lower-carbon economies.

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Fort McMurray Fire: Shell Turns Oilsands Camp Into Shelter For Evacuees

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CP  |  By The Canadian Press: 05/04/2016 1:02 pm EDT

Screen Shot 2016-04-20 at 13.50.03CALGARY — The wildfire raging through the heart of Canada’s oilsands capital dealt a blow Wednesday to crude perations, with Shell Canada closing a major mining facility north of Fort McMurray, Alta.

The company temporarily shut down production at its Albian Sands mining operations located about 70 kilometres north of the city.

Shell said it made the decision to focus on getting employees and their families out of the region while also freeing up room at its 2,000-person work camp for some of the 80,000 people who were ordered evacuated Tuesday from Fort McMurray.

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Shell’s BG Risk Starts to Pay as Output Added, Costs Slashed

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By Rakteem Katakey: May 4, 2016

Royal Dutch Shell Plc’s record $54 billion acquisition of BG Group Plc is starting to pay off as the assets give it higher production and cash flow, helping it beat analysts’ earnings estimates when it reported quarterly results Wednesday. 

While Europe’s biggest oil company benefits from BG’s assets, it’s cutting expenses quickly enough to ensure the takeover isn’t adding any new costs. Shell’s forecasts for capital spending and operating expenses this year are now at the same level they would have been even if it hadn’t bought BG, Chief Financial Officer Simon Henry said. A majority of the 16 percent increase in oil and gas output came from the acquisition.

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Shell finance chief refuses to rule out further North Sea job losses

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Screen Shot 2016-04-25 at 15.56.32Written by Phil Allan – 04/05/2016 12:34 pm

Shell’s finance chief has refused to rule out further job losses in the North Sea as the oil giant announced its earnings had dropped by $4billion dollars in the first quarter of 2016.

Chief financial officer Simon Henry said the voluntary redundancy packaged announced recently announced as a result of Shell’s acquisition of BG Group, may not be the last to affect the North Sea as the company continues to look at cut costs from its global operation.

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Shell cuts spending as profits fall

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The oil firm said it would reduce investment to $30bn from a planned $33bn, after coming under pressure from shareholders to cut costs.

Shell also said profits in the three months to March had fallen to $800m from $4.8bn a year earlier.

Oil prices have fallen sharply over the past 18 months.

On average, in the first three months of 2016 oil prices stood at about $35 a barrel, down from a peak of $115 a barrel in June 2014.

Excluding one-off items, Shell’s preferred measure of profit, earnings fell to $1.6bn from $3.8bn in the quarter.

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Shell profits tumble following BG merger

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By Jillian Ambrose4 MAY 2016 • 8:32AM

Shell posted a sharp fall in profits in its first set of results since merging with global gas giant BG Group, but nevertheless beat expectations against a backdrop of low oil prices.

The oil major reported first quarter profit of $455m, less than half the $942m posted in its results for the last three months of 2015 and a fraction of its $4.5bn for the same period last year.

On a cost of supplies basis, which the oil industry uses to account for fluctuations in the price of oil, Shell made $1.6bn over the first quarter of the year. This was better than analyst expectations of just over $1bn but still well below the $3.7bn in the first quarter of 2015.

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Shell cuts spending further after BG deal

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LONDON | BY RON BOUSSO AND KAROLIN SCHAPS:Wed May 4, 2016

Royal Dutch Shell (RDSa.L) on Wednesday cut its 2016 spending by another 10 percent after completing the $54 billion acquisition of BG Group, warning that low oil prices will continue to weigh.

In its first earnings results since the Feb. 15 deal that transformed it into the world’s top liquefied natural gas producer, Shell reported better-than-expected first-quarter results despite a 58 percent drop in profits.

Reflecting the deal, Shell said it sold 12.29 million tonnes of LNG in the first quarter, up 25 percent year on year. Shell’s overall oil and gas output rose 16 percent.

Shell, however, warned that low oil and gas prices, significant maintenance at production sites as well as “substantial redundancy and restructuring charges” will impact second-quarter earnings.

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Shell says Q1 oil and gas production rises 16 pct

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May 4, 2016

* First quarter 2016 unaudited results

* Cash flow from operating activities for Q1 2016 was $0.7 billion, which included negative working capital movements of $3.9 billion

* Total dividends distributed to shareholders in quarter were $3.7 billion, of which $1.5 billion were settled by issuing 65.7 million a shares under scrip dividend programme

* Gearing at end of Q1 2016 was 26.1% versus 12.4% at end of q1 2015

* Q1 2016 basic CCS earnings per share excluding identified items decreased by 63% versus Q1 2015.

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Shell Q1 earnings slump to $800m

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Royal Dutch Shell (LON:RDSA) has updated investors on its first-quarter performance this morning, unveiling a hefty drop in earnings, with the oil price rout weighing on the company’s results.

Highlights from Shell’s statement:

Following completion of the acquisition on February 15, 2016, BG Group plc (“BG”) has been consolidated within Royal Dutch Shell’s results. For all practical purposes, this includes February and March 2016, as the impact for the first half of February is deemed immaterial.

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North Sea helicopter crash: Shell cancels all CHC flights in Norway

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Screen Shot 2016-04-20 at 13.50.03Written by Niamh Forrest – 03/05/2016 7:42 am

Oil major Shell has cancelled all flights to its two fields in the Norwegian Sea.

The company has taken the decision after 13 people were killed on a flight returning from Statoil’s Gullfaks B platform on Friday.

The move will affect journeys to its Draugen and Knarr fields.

It’s understood the operator has said it is “too early” at this stage to determine how long the decision will stay in place.

A spokesman for the company said:“Shell has with sadness followed the reports of the tragic event outside Bergen in Norway. Our thoughts and condolences go out to the families and colleagues of the victims. We are confident that every measure will be taken to reveal the cause of the accident and to ensure the safety of the people of our industry.

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Gas station prompts outrage with sign: ‘Closed on Sundays so we can prep for the crusade’

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By Andrew Blake – The Washington Times: Monday, May 2, 2016

Signage outside a Nashville gas station drew mixed reactions from customers over the weekend, including from some who reportedly accused the establishment of hate speech.

Nashville’s WSMV News on Sunday reported that a Shell station was turning heads as a result of a couple of different digital messages that had been programed to appear on signage beneath the price of gas.

“Closed on Sundays so we can prep for the crusade,” read one of the slogans that appeared on the sign. “Seven years of Obama and we can’t figure out which restroom to use,” read another.

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Nigeria demands N884b compensation from Shell

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Akin Kuponiyi  

Screen Shot 2016-04-20 at 13.50.03President Muhammadu Buhari has authorised that the government of the Federal Republic of Nigeria and Attorney General of Federation and Minister for Justice alongside National Oil Spill Detection and Response Agency (NOSDRA) for the country  and on behalf of 350 communities in Delta and Bayelsa states affected by Bonga Oil spills of December 20,2011, to commence legal action against  Shell Nigeria Exploration and Production Company,

The country is  demanding for N884Billion as compensation for oil spillage that destroyed the affected communities.

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Shell gets go ahead for Draugen wells

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Screen Shot 2016-04-20 at 13.50.03Written by Phil Allan – 02/05/2016 12:20 pm

Shell has received consent to use two subsea wells on the Draugen field in the Norwegian Sea.

Norway’s Petroleum Safety Authority has given Shell consent to commission the last two wells, designated G2 and G3 after the company began its programme to drill four subsea wells on the field in 2013. The first two came on stream in 2014.

The PSA consent also covers underwater equipment, subsea pumps and equipment on board the Draugen facility linked to these wells.

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Shell completes sale of Dansk Fuels in Denmark

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Screen Shot 2016-04-20 at 13.50.03Written by Niamh Forrest – 02/05/2016 12:04 pm

Oil major Shell said it has completed the sale of Dansk Fuels in Denmark to Couche-Tard for $300million.

The company said Dansk Fuels comprises Shell’s retail, commercial fuels and commercial fleet and aviation business.

It will be owned by Circle K Denmark which was formerly Statoil Fuel and Retail, a subsidiary of Couche-Tard.

The move comes after Shell signed an agreement to divest the business in March last year.

The completion of the transaction follows regulatory approval from the European Commission.

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Issues relating to Shell’s acquisition of BG Group Plc

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By John Donovan

Extract from an email received from a knowledgeable source who wishes to remain anonymous:

…your subscribers might be interested in the following:

The cost of Phase I in BG’s QGC LNG project was approximately £20bn. BG borrowed approximately 65% of this money by issuing Corporate Bonds to a level somewhere between £12Bn and £14Bn to fund this. Shell acquired this debt when it bought BG Group.

BG’s Western Delta Deep Marine gas fields in the western Nile Delta produce approximately 20,000BBL/Day of contaminated water. When the fields were operated by BG this water was driven by road tanker and dumped somewhere in the desert. Have Shell done anything to address this environmental issue?

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Shell’s blockbuster BG bid backfires as gas prices deflate

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Danny Fortson:    Published 1 May 2016

Nearly 300 staff gathered in the canteen of BG Group’s sprawling headquarters in Reading on Monday morning to hear what they had long been expecting: nearly all of them were being laid off or being forced to apply for new jobs.

Shell closed its blockbuster takeover of the gas giant in February. Huibert Vigeveno, a rising star within Shell charged with integrating the companies, announced that after an “office footprint review”, BG’s headquarters would shut.

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Profit fall leaves Shell struggling to justify BG deal

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Danny Fortson Published: 1 May 2016

Royal Dutch Shell is set to unveil a steep fall in profits this week, laying bare the challenge for chief executive Ben van Beurden to justify his £35bn takeover of rival BG.

Shell completed the blockbuster deal in February after investors voted it through. Despite counting six weeks of BG’s earnings, analysts expect Europe’s largest oil company to have earned just $1bn (£680m) in profits for the quarter. That compares with a surplus of $3.2bn for the same period a year ago.

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North Sea worker strikes loom as contracts tighten

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Jillian Ambrose: 1 MAY 2016

The North Sea sector could face the first wave of workers strikes in a generation as union tensions rise in response to longer hours and lower pay for the embattled workforce.

This weekend members of Unite are weighing up whether to accept tougher contract terms from Wood Group, one of the North Sea’s largest oilfield services firms, after the group met with unions on Friday.

A strike across Wood Group’s workforce could impact projects across the North Sea including decommissioning work on the giant Brent oilfield operated by oil giant Shell, where workers have already threatened to down tools over Wood Group’s plans for tougher contracts.

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Museums face ethics investigation over influence of sponsor BP

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Screen Shot 2016-04-20 at 13.50.03In May last year Shell was accused of putting pressure on the Science Museum to influence a climate change exhibition it was sponsoring. The charge was denied by the company and the museum but within six months the partnership had been scrapped.

The Museums Association is investigating claims that some of Britain’s most revered cultural institutions have broken its code of ethics in the way they dealt with one of their commercial sponsors, BP.

The move follows the release of internal documents seen by the Guardian that appear to show the British Museum, National Portrait Gallery and other institutions bending to accommodate the demands of the oil company.

In May last year Shell was accused of putting pressure on the Science Museum to influence a climate change exhibition it was sponsoring. The charge was denied by the company and the museum but within six months the partnership had been scrapped.

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Goodbye Marvin Odum

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Screen Shot 2016-02-24 at 17.16.30Marvin Odum, unconventional resources director and U.S. country chair for Royal Dutch Shell, left the company. He joined Shell as an engineer in 1982. Concurrent with his departure, and in a move that will simplify Shell’s structure, the Athabasca Oil Sands Project and the Scotford Upgrader in Canada will join the global Downstream organization under Downstream Director John Abbott.

In addition, the Shale Resources business will join the global Upstream organization under Upstream Director Andy Brown. As a result of these changes, the unconventional resources director position is eliminated.

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Gazprom and Shell address ongoing and future cooperation

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Screen Shot 2016-04-29 at 21.31.46Friday, Apr 29, 2016

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

The parties addressed the prospects for collaboration between the companies under the Agreement of Strategic Cooperation. An emphasis was placed on a potential asset swap.

The meeting also reviewed the ongoing front-end engineering design (FEED) process for the third production train of the LNG plant within the Sakhalin II project.

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FT Energy Source: Saudi Reform

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By Ed Crooks: April 29, 2016

When Saudi Arabia’s oil minister raises an eyebrow, the world pays attention. So when the kingdom launched a hugely ambitious economic reform programme this week, it naturally attracted enormous interest.

The FT in an editorial praised what it described as “a bold bid to transform Saudi Arabia’s economy”, but highlighted the challenges Deputy Crown Prince Mohammed bin Salman would face in making his vision a reality. Simeon Kerr and Anjli Raval described the plans as “highly ambitious – some would say unrealistic”.

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VW and Shell try to block EU push for electric cars

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Arthur NeslenThursday 28 April 2016 

VW and Shell have united to try to block Europe’s push for electric cars and more efficient cars, saying biofuels should be at heart of efforts to green the industry instead.

The EU is planning two new fuel efficiency targets for 2025 and 2030 to help meet promises made at the Paris climate summit last December.

But executives from the two industrial giants launched a study on Wednesday night proposing greater use of biofuels, CO2 car labelling, and the EU’s emissions trading system (ETS) instead.

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Shelter-in-place order for Corunna a ‘precaution’

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Screen Shot 2016-04-28 at 20.41.15Shell’s refinery at Corunna manufactures gasoline, solvents, chemicals and other products. The World Health Organization says human exposure to benzene has been associated with a range of acute and long-term adverse health effects and diseases, including cancer and aplastic anemia.

By Paul Morden, Sarnia Observer: Thursday, April 28, 2016

A phone call from a neighbour of Shell’s refinery in Corunna alerted the company to an incident that resulted in a shelter-in-place advisory being issued Wednesday evening for a section of the St. Clair Township community.

It also led to emergency sirens sounding in Sarnia, and the activating of a community network notification system that sent out thousands of messages to Sarnia-Lambton residents.

Shell spokesperson Kristina Zimmer said that at approximately 4 p.m. Wednesday, “ A resident that lives on Curran Avenue had smelled this abnormal odour, and had called the site to notify us.”

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Shell chairman joins new climate group involving NGOs

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Pilita Clark, Environment Correspondent: April 28, 2016

The chairman of Royal Dutch Shell, Charles Holliday, has joined executives from BHP Billiton and other big energy companies on a new body exploring whether some of the fossil fuels that businesses such as theirs produce should stay in the ground.

The chief executive of Germany’s RWE, Peter Terium, has also joined the Energy Transitions Commission, which was set up by certain energy companies, investors and non-governmental organisations…

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Shell To Hire 1,000 Professionals This Year At Bengaluru Centre

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by Ayushman Baruah: 28 April 2016

At a time when global oil prices are falling and the energy sector is going through macro-economic challenges, global oil & gas company Shell on Wednesday (27 April) announced the launch of its information technology (IT) centre in Bengaluru. The centre is expected to recruit close to 1,000 professionals by the end of 2016 and several thousand by 2020.

About 900 offers have already been made for the IT centre. Shell’s total headcount in India stands at 4,300 employees spread across its Projects & Technology and IT Centres based in Bengaluru, as well as their Business Operations Centre in Chennai.

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Samsung Heavy loses $4.6-billion FLNG order from Shell on oil drop

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Screen Shot 2016-04-20 at 13.50.03By KYUNGHEE PARK on 4/28/2016

SUNGNAM, South Korea (Bloomberg) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder, said an order to build three floating LNG production facilities was canceled after the energy development project was scrapped amid a plunge in oil prices.

The contract, valued at 5.27 trillion won ($4.6 billion), from Royal Dutch Shell was voided because of the current difficult market conditions, the Sungnam, South Korea-based company said in a regulatory filing Thursday. The shipbuilder won the deal in June on the condition that the project will start only after the client is ready to proceed.

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Shell cancels huge $4.6bn FLNG order at Samsung

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Shell starts jobs consultation with Australian employees

Screen Shot 2016-04-28 at 11.33.5828 April 2016

Oil major Shell said it has begun discussions with staff in Australia about job losses as part of plans to cut 10,000 roles globally.

The company previously announced the move following the merger with BG Group announced last year.

A spokesman for the company said: “Shell last week commenced conversations with employees about business efficiency and staffing levels – as a result of combining it with the previously BG-owned OGC – a process that will lead to job reductions.”

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Dalhousie Dean of Science feared oil company’s revenge over divestment

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By Charles Mandel in News, Energy | April 27th 2016

For years, Royal Dutch Shell has tried to portray itself as one of the good guys in the battle against climate change. It recently completed improvements to an oil upgrader in Fort Saskatchewan, near Edmonton, to capture up to a third of its greenhouse gas emissions – equivalent to removing the annual pollution of about 250,000 cars.

On its website, the company posts stories about how to achieve a low-carbon-future and sponsors a fuel efficient vehicle in the eco-marathon.

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Shell starts staff cut discussions with employees in Australia

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Business | Wed Apr 27, 2016 

Shell (RDSa.L) has started discussions with employees in Australia about job reductions, the company said on Wednesday, as part of plans to cut 10,300 jobs worldwide to lower costs.

“Shell last week commenced conversations with employees about business efficiency and staffing levels – as a result of combining it with the previously BG-owned QGC – a process that will lead to job reductions,” a spokesman said.

Shell is in the process of integrating assets it acquired as part of its $50 billion (£34.2 billion) takeover of gas producer BG Group, including BG’s Australian subsidiary QGC.

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Shell to axe jobs as cost-cuts hit home

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Shell last week informed local staff that it was starting a round of job cuts, with a large portion of workers within the company asked to re-apply for their current positions.

While no fixed target has been set, it is estimated that about 250 jobs around Australia are likely to go as a result of the changes.

The round of job cuts follows Shell’s recent takeover last year of BG Group. The redundancies will remove many of the overlapping roles inherited through the takeover.

Shell had already flagged that it would axe about 2800 jobs worldwide as a result of the BG takeover, as well as a further 7000 around the globe as part of its response to the plunge in oil and gas prices.

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Multinationals already working the angles on ‘Google Tax’

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“We are aware of taxpayers seeking to use artificial and contrived interim arrangements with the sole aim of avoiding a potential MAAL liability from January 1, 2016,” the ATO said in a taxpayer alert.

In 2014 Shell Australia paid $534 million in finance costs on $12.7 billion of debt owed to offshore Shell companies. But its submission to the Senate tax inquiry showed that while it paid that $169 million interest to a Bermuda associate, the biggest cost was $260.7 million paid to a Shell company in Luxembourg for cross-currency interest rate swap costs.

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Shell shuts down three offices and asks the 1,600 staff involved to move or consider voluntary redundancy

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Oil giant warned last year that merger with BG would hit workers hard 

Staff in Reading and Manchester have option move to London head office 

Plans to put all London and South East operations into central London 

Screen Shot 2016-04-25 at 15.56.32By MARK SHAPLAND FOR THIS IS MONEY25 April 2016

Oil giant Shell is pushing ahead with plans to cut jobs and close three offices following its billion dollar takeover of rival BG Group earlier this year.

The cost-cutting drive will trigger the closure of the former BG Group headquarters in Reading and company offices in Aberdeen and Manchester.

The 1,600 staff employed at the sites who do not want to relocate will be offered voluntary redundancy.  

The firm warned last year that the impact of its mega-merger with BG Group would hit workers hard. 

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Shell to close three UK offices housing 1,600 staff

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Nick FletcherMonday 25 April 2016 13.56 BST

Royal Dutch Shell is closing three UK offices, affecting 1,600 employees, including BG’s headquarters in Reading, after its £35bn takeover of the oil and gas company earlier this year.

It has also begun a voluntary redundancy programme as part of a plan to cut 10,300 jobs across the merged group, comprising 7,500 from the original Shell business, as it attempts to cope with the recent plunge in oil prices, and another 2,800 following the merger with BG.

FULL ARTICLE

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Shell Outlines BG Consolidation Plans

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April 25, 2016 7:24 a.m. ET

LONDON— Royal Dutch Shell PLC will offer a new voluntary severance program for employees and plans to close a number of U.K. offices in the wake of its roughly $50 billion acquisition of BG Group PLC, the company said Monday.

The Anglo-Dutch oil giant has proposed plans to consolidate its London operations in central London and close its Thames Valley Park campus by the end of the year. The company also intends to close BG’s offices in Aberdeen by the end of 2016 and Shell’s Manchester offices by the end of 2017.

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Shell announces major office changes after BG takeover

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The company is cutting more than 10,000 jobs across the world, with 2,800 of those connected with the BG deal.

Shell plans to close the Thames Valley Park campus by the end of the year.

All Aberdeen-based onshore operations will move to Tullos, with BG’s offices at Albyn Place closing, as will Shell’s Brabazon House office in Manchester.

Shell said the decisions were subject to the outcome of staff consultation.

The company is also planning to open a voluntary redundancy arrangement at Thames Valley Park.

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Shell to close BG office in Aberdeen this year with job cuts expected

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Shell to close BG office in Aberdeen this year with job cuts expected

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ROYAL Dutch Shell has announced plans to close the BG North Sea head office in Aberdeen where around 300 people work in a move which is expected to lead to further job cuts in the city.

The Anglo Dutch oil giant will run the enlarged North Sea Business formed by the £35bn takeover of BG from its office in the Tullos area of Aberdeen.

Led by chief executive Ben van Beurden, Shell said all 300 BG staff will relocate to Tullos initially. They will be able to apply for redundancy under a voluntary severance programme which is expected to result in an undisclosed number of jobs being cut.

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Shell to close BG head quarters near London by year end

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As part of the 10,300 job cuts it has already announced, 2,800 will come from the integration of BG and 7,500 from its existing staff and direct contractor base.

Business | Mon Apr 25, 2016 

Royal Dutch Shell (RDSa.L) will close the head office of BG Group, the gas producer it agreed to acquire for $50 billion in February, by the end of the year, it said on Monday, as part of a plan to save costs and cut 10,300 jobs worldwide.

The oil major will also offer voluntary redundancy packages to staff at the BG headquarters in Reading, near London, and to Shell staff in the UK.

This follows a similar announcement made to Dutch staff earlier this month.

The oil company is under intense pressure to rein in costs as a slump in oil prices has hit its profits.

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SHELL ACCUSED OF BLACKMAILING GRONINGEN ON EARTHQUAKE SAFETY, REPAIRS

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by Janene Pieters: 25 April 2016Screen Shot 2016-04-19 at 20.31.49

A lobbying document Shell caused some serious irritation among Dutch parliamentarians. The oil and gas giant writes that the reduction in gas extraction in Groningen threatens the “economic base” of the plan to strengthen homes in the earthquake zone. Unacceptable blackmail, according to SP province director Eelco Eikenaar.

Shell lobbyists visited a number of parliamentarians over the past weeks, according to the Financieele Dagblad. The company is trying to convince parliament not to further reduce gas extraction in Groningen, otherwise there will be no money for reinforcing buildings in the province. Gas extraction in the earthquake prone province is currently capped at 27 billion cubic meters a year, but there are parties who want to reduce it further.

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Shell expected to confirm today where North Sea HQ will be post BG takeover

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Shell expected to confirm today where North Sea HQ will be post BG takeover

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Written by Erikka Askeland – 25/04/2016 7:37 am

Oil giant Shell is expected to tell staff in Aberdeen today that its North Sea headquarters will be based at Tullos in the wake of its takeover of rival BG Group.

The firm, which completed its multi-billion pound mega-merger with BG in April, will move around 200 former BG staff to its existing premises in the south of the city from their base on Albyn Terrace.

The decision is set to see BG’s former offices – a trio of linked granite-built townhouses at the heart of Aberdeen’s west end – go up for grabs in a market where demand for offices is falling as a result of the oil price crash.

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Investors look beyond Big Oil’s worst quarter yet

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LONDON | BY KAROLIN SCHAPS AND RON BOUSSO: Sun Apr 24, 2016

The world’s top oil companies are set to report their worst quarterly results yet in the current downturn but a recent recovery in crude prices is raising hopes the market has bottomed out.

An ever intensifying oil supply glut took global prices to a near 13-year low of $27.10 a barrel on Jan. 20, exacerbating pressure on oil producers already grappling with a more than 70 percent slide in prices since mid-2014.

“The 1Q16 reporting period looks set to be even worse than what we thought was already an especially ugly 4Q15,” said Jason Gammel, equity analyst at Jefferies.

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Oil prices drop faster than companies can cut costs

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Bloomberg News: SATURDAY, APRIL 23, 2016

The world’s biggest oil companies, set to report their worst quarterly earnings in more than a decade, are finding that their cost-cutting efforts haven’t matched the decline in crude prices over the past two years.

While producers have been deferring projects, eliminating jobs and freezing salaries, the process will take three years to complete, according to Barclays oil sector analyst Lydia Rainforth. In the meantime, profits are being hammered.

“A lot of work still needs to be done on costs,” she said. “It’s a reflection of how much costs had piled up and how long a process this is.”

For producers from Royal Dutch Shell to Chevron, reeling under the threat of credit-rating downgrades, slashing costs is the surest way of protecting balance sheets. Still, reversing course is proving painful after $100 oil persuaded companies to pump money into expensive areas in search of new deposits, hire more people and rent rigs and services at record rates. Productivity suffered.

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Is this the city car of the future? Shell reveals bizarre bug eyed vehicle with a flip up front

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Screen Shot 2016-04-23 at 07.27.30Shell’s city concept car uses a third less energy compared to the average car, as it gets 107 miles per gallon and is only 1.5m high, 2.5m long and 1.3m wide – making parking in the city a breeze. One unique feature to this futuristic car is that there are now doors that open out, in order for riders to get inside they have to pull the top up and climb in

By STACY LIBERATORE FOR DAILYMAIL.COM: 23 April 2016

In about 50 years, three-quarters of the world is expected to live in cities, while the number of cars on the road will double.

While most manufacturers are developing electric solutions, unsurprisingly Shell has designed a vehicle that they say ‘is intended to inspire thinking about maximizing personal mobility, while minimizing energy use’.

Shell’s city concept car uses a third less energy compared to the average, as it gets 107 miles per gallon and is only 1.5m high, 2.5m long and 1.3m wide – making parking in the city a breeze.

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The new oil order

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Apr 23rd 2016

FOR generations, oil and stability have gone hand in hand in Saudi Arabia. The puritanically conservative kingdom has used its oil wealth to buy loyalty at home and friends abroad. But since King Salman came to the throne last year, his 30-year-old son, Muhammad, has injected unpredictability into the Middle East.

Critics consider the deputy crown prince a hothead, whose dangerous obsession with Iran, Saudi Arabia’s rival, is feeding sectarianism and fraying relations with America. At home, though, the impetuousness of Muhammad bin Salman may be just what Saudi Arabia needs to start weaning itself off oil, the price of which has fallen sharply over the past 18 months. A big test comes on April 25th, when the prince is due to unveil the kingdom’s long-delayed “Vision” reform plan.

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Bulgaria anti-monopoly watchdog raids more oil firms in fuel inquiry

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Commodities | Fri Apr 22, 2016

Bulgaria’s anti-monopoly watchdog said it had raided the offices of Eco Petroleum, part of Hellenic Petroleum, and Shell Bulgaria, owned by Royal Dutch Shell, as part of an investigation into possible cartel agreements.

The inquiry follows complaints by Bulgarians over high fuel costs despite a plunge in global oil prices and a call by Prime Minister Boiko Borisov for the competition authority to hasten checks on the fuel sector.

“Employees of the Commission for Protection of Competition are carrying out surprise checks on site at the offices of Eco Bulgaria and Shell Bulgaria,” the commission said in a statement on Friday.

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Oil washout

Screen Shot 2016-04-22 at 21.42.31Ed Crooks: 22 April 2016

They wanted a freeze, but all they got was a wash-out. The 18 oil-producing countries that met in Doha on Sunday were supposed to finalise an agreement to hold production at January’s levels, but instead the meeting broke up in acrimony and recriminations. John Kemp at Reuters suggested Saudi Arabia was turning the “oil weapon” on its rival Iran.

The FT’s Roula Khalaf wrote that the failure of the talks highlighted the rise of Mohammed bin Salman, Saudi Arabia’s 30 year-old deputy crown prince. His growing influence and the waning authority of veteran oil minister Ali al-Naimi add a new element of unpredictability to Saudi policy.  Bloomberg Business Week had a long and fascinating interview with Prince Mohammed. As President Barack Obama visited Saudi Arabia, David Gardner wrote that the kingdom’s 70-year bargain with the US, promising security in return for a steady flow of oil, was becoming frayed.

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