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Posts under ‘Andrew Brown’

Shell divests non-core shale acreage in Western Canada for total consideration of US$1 billion


Oct 20, 2016, 17:26 ET

CALGARY, Oct. 20, 2016 /PRNewswire/ – Royal Dutch Shell plc, through its affiliate Shell Canada Energy (“Shell”) today announced it has agreed to sell approximately 206,000 net acres of non-core oil and gas properties in Western Canada to Tourmaline Oil Corp. for a total consideration of approximately $1,037 million (C$1,369 million). The consideration is comprised of $758 million in cash and Tourmaline shares valued at $279 million. Subject to regulatory approvals the transaction is expected to close in the fourth quarter of 2016.

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Shell selling 16 upstream assets worth more than $500 mln



cropped-Screen-Shot-2016-09-09-at-20.58.10.jpgRoyal Dutch Shell is currently offering 16 assets worth more than $500 million for sale as part of its vast $30 billion three-year asset sales programme, the oil and gas company’s head of upstream Andy Brown said on Wednesday.

The Anglo-Dutch company launched the programme to reduce its debt following the acquisition of BG Group earlier this year. Uncertainty over the future oil price has led to a sharp slowdown in deal making in the sector in recent years.

“There are 16 assets currently in the market that are above $500 million in value,” Brown told the Oil and Money conference in London.

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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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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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Musings about the OPL 245 Shell/ENI corruption scandal and the sinking confidence in Prelude

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I would have thought that Simon Henry’s position as CFO should now be untenable, in view of the apparent lack of effective financial governance in Nigeria while he was CFO. 

By John Donovan

A large number of press articles have appeared recently mentioning Ben van Beurden. 

Since these articles are presumably fed to the press by Shell’s PR team, and Shell is not a one-man company, I checked to see whether other Shell directors have appeared recently in press releases.

The results are somewhat curious. For example, searching for Matthias Bichsel on Google News shows that articles were published about him at least weekly until October last year, but the articles then stopped abruptly. References to Simon Henry seem to have dried up a few weeks ago – until mid-March there were articles on Henry on an almost daily basis, but recently there has been nothing. Harry Brekelmans seems to have had a low profile since his appointment, so it is harder to see whether any change has occurred. Andy Brown has almost as many press articles as Ben van Beurden. 

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Shell announces senior staff and organisational changes in North America

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Royal Dutch Shell (Shell) today announced that after a 34-year career with the company, Unconventional Resources Director and U.S. Country Chair, Marvin Odum, will leave Shell at the end of March, 2016.

Concurrent with Marvin’s 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 organisation under Downstream Director, John Abbott; and the Shale Resources business will join the global Upstream organisation under Upstream Director, Andy Brown. As a result of these changes, The Unconventional Resources Directorate will cease to exist.

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As one of the many let go by Shell in the recent cull in November I was not impressed by the way senior leaders clung to their jobs.

This is now going to get even worse in my opinion as Shell announces more job losses.

Even the inmates will be turning on each other as there is nobody left in the asylum and yet strangely the senior leaders still remain in place.

The same senior leaders who got us into this mess seem to think they are the best to get Shell out of it. Good luck boys, its great watching from the outside for a change.

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