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Posts under ‘Australia’

Biggest Oil Deal’s Risk Narrows to Record as Shell Pushes Ahead

By Rakteem Katakey: 30 November 2015 BG’s shares are at smallest discount to Shell’s offer price Takeover received Australia antitrust approval this month BG Group Plc’s discount to Royal Dutch Shell Plc’s takeover offer is the narrowest since the transaction was announced in April as the likelihood increases that the biggest oil deal of the decade […]

Sources claim BG merger could be okayed by year-end

by Veselin Valchev: Monday, 30 Nov 2015, 10:13 GMT Royal Dutch Shell Plc (LON:RDSA) is on track to settle all mandatory regulatory approvals for the proposed merger with smaller rival BG Group before the end of the year, paving the way for the final shareholder verdict. According to sources close to the negotiations, both the Australian […]

Shell-BG deal to win green light

Questions have been raised about the growing gulf between the price of BG shares and Shell’s cash and stock offer, while some market sources have argued that the low oil price could force Shell to renegotiate the deal and reduce its bid. Regulators in China and Australia likely to support move to create Britain’s biggest […]

Complications Grow For Shell-BG Deal

Trefis Team, CONTRIBUTOR: NOV 27, 2015 …the Chinese authorities reviewing the proposed Royal Dutch Shell – BG Group merger are reportedly urging Royal Dutch Shell to dole out concessions on long-term liquefied natural gas supply contracts with the country. After getting an all-clear from the Australian completion authority last week, Shell now needs clearance from China and Australia’s […]

Some Thoughts On Royal Dutch Shell’s Dividend In 2016

Casey Hoerth, Casey’s Finance Journal (Blog) : Nov. 25, 2015  Summary Shell expects substantial cost savings and capex cuts in 2016. Dividend sustainability in 2016 will depend on Brent crude prices. At this time, I prefer companies that can actually acquire with oil at these prices. Back in April, I wrote that Royal Dutch Shell’s (NYSE:RDS.A) dividend, […]

China wants LNG supply concessions in return for BG merger approval, sources say

Beijing holding a “wonderful piece of leverage” by Veselin Valchev: Friday, 20 Nov 2015 Royal Dutch Shell Plc (LON:RDSA) might have to shell out in order to get regulatory approval from Chinese authorities for its proposed takeover of fellow UK energy giant BG Group. According to unnamed sources cited by Reuters, the Chinese ministry of commerce […]

Shell’s BG Deal Cleared by Australian Competition Regulator

By James Paton: November 18, 2015: Agreement on track to be completed in early 2016, Shell says Shell’s plan had faced concerns over gas supply in Australia Royal Dutch Shell Plc’s $70 billion deal to buy BG Group Plc was cleared by Australia’s competition watchdog despite concerns it could reduce natural-gas supply to local customers and […]

Australia watchdog clears Shell’s $70 billion bid for BG Group

MELBOURNE | BY SONALI PAUL: Business News | Thu Nov 19, 2015  Royal Dutch Shell (RDSa.L) cleared a major hurdle to its $70 billion (46 billion pounds) takeover of BG Group (BG.L) on Thursday, winning a green light from Australia’s competition watchdog, which said the deal would not change the dynamics of the domestic market. The […]

Shell plans to retain four senior BG executives after merger – memo

Business News | London Mon Nov 16, 2015 Royal Dutch Shell plans to retain four members of BG Group’s executive team after the companies’ planned merger next year, according to an internal memo seen by Reuters on Monday. The memo indicates that the planned $70 billion takeover of BG by Shell remains on track. Shell […]

ACCC under pressure as gas buyers push Shell gas concerns

by Angela Macdonald-Smith: Nov 12 2015 In a country touting itself as “open for business”, the national competition regulator looms as a major hurdle in what could be the world’s biggest energy merger this decade, Royal Dutch Shell’s $US70 billion ($99 billion) swallowing of BG Group. Despite Shell’s global chief Ben van Beurden claiming “massive support” from federal and state politicians for the merger, […]

Shell share price: Australia boss sees no competition issues with BG tie-up

by Veselin Valchev: Thursday, 12 Nov 2015 Andrew Smith, chairman of Royal Dutch Shell Plc’s (LON:RDSA) Australian unit said he sees no local competition issues with the oil major’s bid to acquire fellow British energy giant BG Group, in contrast with reservations expressed by the Aussie competition regulator last month. The Australian Competition and Consumer Commission […]

Shell Australia chairman Andrew Smith says LNG needed to develop Arrow gas

By Energy Reporter: Angela Macdonald-Smith: 12 Nov 2015 Shell Australia chairman Andrew Smith has insisted there are no issues of competition raised in eastern Australia with the oil giant’s planned $US70 billion ($98 billion) takeover of BG Group and that letting the deal proceed is the best way of ensuring the company’s undeveloped gas resources in […]

Pickard quits Shell

Peter Klinger: November 11, 2015 Ann Pickard, once dubbed the “bravest woman in oil and gas” before she transformed Royal Dutch Shell’s century old presence in Australia, has quit the Anglo-Dutch giant. However, the decision to retire from Shell will not spell the end of her exposure to oil and gas, and LNG in particular which […]

Plan for equality on Shell merger

Plan for equality on Shell merger Jane Harper: Herald Sun: November 8, 2015  A PEAK manufacturing group has urged the competition watchdog to place conditions on Royal Dutch Shell’s multibillion-dollar buyout of oil and gas heavyweight BG Group. The proposed $US70 billion ($99 billion) deal would be one of the biggest in the oil and […]

Angela Macdonald-Smith: November 4, 2015 Royal Dutch Shell remains unequivocally bullish on prospects for liquefied natural gas despite the current market glut, pointing to several options for new supply projects after its planned $US70 billion ($97 billion) takeover of BG Group and plenty of new markets opening up around the world. “The fundamentals of this market look […]

Shell’s £43bn gamble of a deal for BG is sliding out of reach

The big question facing Mr van Beurden, is whether he can pull off such an ambitious move. If not, his time at the helm will be shortlived. By Ben Marlow: 31 Oct 2015 Ben van Beurden must be sick of answering the same question but unless there is an unlikely sudden surge in the oil price […]

BG Group profits drop as it nears merger with Shell

By Jon Yeomans: 30 Oct 2015 BG Group, which is due to be taken over by Shell early next year, has reported a slump in profits as the low oil price continues to take a toll on producers. Net income at the Reading-based company fell 63pc to $280m (£182m) in the third quarter from $759m a […]

Shell boss confident of ‘good’ ruling from ACCC on BG takeover

Angela Macdonald-Smith: 30 October 2015 Royal Dutch Shell’s global chief executive Ben van Beurden says there is “massive support” from Australian federal and state governments for the oil giant’s $US70 billion ($98.6 billion) takeover of BG Group and is confident the national competition regulator will wave the deal through. Mr van Beurden said even though the decision from the Australian Competition and […]

Shell share price: Company’s problems extend beyond oil prices, analyst says

Big bets on shale “destroyed huge amounts of capital” and the company has few growth assets…the firm is far more likely to remain a laggard than become a leader among the oil majors for the rest of this decade… by Veselin Valchev: Tuesday, 27 Oct 2015 Royal Dutch Shell Plc (LON:RDSA) carries hefty baggage and even […]

Britain’s oil giants to post worst set of earnings since rout in price of crude began last year

By LAURA CHESTERS FOR THE DAILY MAIL: 25 October 2015 Britain’s oil giants will this week post their worst set of earnings since the rout in the price of crude began last year. Investors will also be looking for any update on Royal Dutch Shell’s £55bn takeover of rival BG Group amid fears Shell is overpaying. […]

Is Royal Dutch Shell plc (ADR), BG Group plc (BRGYY) Merger Under Threat?

By: Micheal Kaufman: Oct 22, 2015 Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) and BG Group plc.’s (ADR) (OTCMKTS:BRGYY) merger is faced with another setback, as the Australian antitrust regulator, Australian Competition and Consumer Commission (ACCC) now expects to make a decision by November 19. The commission announced on October 22, that the additional time will allow […]

Australia defers decision on Shell’s BG bid by a week to November 19

MELBOURNE: Thu Oct 22, 2015  Australia’s competition watchdog said it has postponed a final decision on Royal Dutch Shell’s (RDSa.L) $70 billion takeover of BG Group (BG.L) by a week to November 19, following an earlier deferral in September. The Australian Competition and Consumer Commission (ACCC) had said last month that market participants had expressed concerns […]

SBM Offshore wins Browse FLNG FEED

by  AOG Staff: Monday, 19 October 2015 SBM Offshore has been awarded the front-end engineering and design (FEED) contract for three large scale turret mooring systems associated with the proposed Browse floating liquefied natural gas (FLNG) development in Australia. The turrets are expected to be designed similar to and slightly larger in size than the Shell […]

Shell keeps Prelude under wraps

The Anglo-Dutch giant has never disclosed Prelude’s capital cost or start-up date Peter Klinger: October 13, 2015 Just a year out from market expectations of first gas, Royal Dutch Shell is giving nothing away about the pace of progress at its revolutionary Prelude floating LNG operation. Shell has sent out its regular update of the mega-project, […]

Shell-BG Deal Could Face Regulatory Sanctions, But Shell Will Do Everything It Can To Save Deal

Trefis Team, CONTRIBUTOR: 2 Oct 2015 Ever since announcing the $70 billion deal to acquire BG Group back in April, Royal Dutch Shell Plc. has been busy these last few months obtaining the required merger related approvals from various regulatory authorities. After obtaining the required clearances in Brazil, the U.S., and Europe, the process hit a […]

Shell CEO Ben van Beurden says carbon price needed to tackle climate change

“Shell’s track record on climate change does not inspire us with confidence…” By business reporter Michael Janda and staff: 2 Oct 2015 Shell’s global chief executive says an effective carbon price is needed to tackle climate change, whether through a trading or tax system. Speaking exclusively to ABC TV’s The Business, Ben van Beurden said […]

Shell boss confronts environmental, carbon challenges

On Monday, the oil and gas giant gritted its teeth and pulled out of one of the most ambitious, expensive and controversial exploration forays on the planet – Alaska. A project that could have delivered tens of billions of dollars instead delivered a dry well and, on Sunday, van Beurden and his team called it quits. […]

Market Skeptics Miss Out on $5.5 Billion From Biggest 2015 Deal

By Inyoung Hwang: BLOOMBERG.COM 22 Sept 2015 A fresh drop in in oil prices and political instability in Brazil is making investors miss out on about $5.5 billion in Royal Dutch Shell Plc’s pending takeover of BG Group Plc. BG closed on Monday at 990.4 pence, about 9.5 percent below Shell’s cash-and-stock offer. The difference in share […]

Shell Handed A Get-Out-Jail Card As Its $70 Billion Bid For BG Hits An Obstacle

Tim Treadgold, CONTRIBUTOR Shareholders in Royal Dutch Shell ngIf: ticker will be uncertain whether they should thank, or criticize, the Australian Government’s competition regulator for threatening the proposed $70 billion merger with rival oil and gas producer, BG Group ngIf: ticker . On one hand, a deal which could transform Shell is being threatened. On […]

Australia throws spanner in the works for Shell’s takeover of BG Group

by Sarah Spickernell Royal Dutch Shell’s takeover of rival BG Group has been postponed, after Australian regulators voiced concerns about the potential impact on domestic gas supplies.   In a statement today, Rod Sims, chairman of the Australian Competition and Consumer Commission (ACCC), claimed the deal was not in the best interests of Australian consumers, as […]

Australia delays decision on Shell bid for BG on gas supply concerns

Commodities | Thu Sep 17, 2015  * Regulator raises domestic gas supply, price concerns * ACCC to issue final decision on Nov. 12 * Shell says still expects to complete deal in Q1 2016  By Sonali Paul MELBOURNE, Sept 17 (Reuters) – Australia’s competition watchdog flagged concerns on Thursday that Royal Dutch Shell’s proposed $70 […]

Shell-BG Deal Poses Competition Concerns, Regulator Says

By James Paton Sept 17, 2015: BLOOMBERG.COM Royal Dutch Shell Plc’s $70 billion deal to buy BG Group Plc could reduce the supply of natural gas to local customers in Australia and boost prices, according to the nation’s competition regulator, which delayed a decision on the agreement until November. The transaction may decrease the incentive for Shell’s […]

Shell CEO says only ‘something cataclysmic’ could stop BG deal

Sep 9 2015, 14:43 ET | By: Carl Surran, SA News Editor Royal Dutch Shell (RDS.A, RDS.B) CEO Ben van Beurden has told investors privately that only “something cataclysmic” – i.e., “if people stopped using energy” – could derail the company’s planned takeover of BG Group (OTCPK:BRGXF, OTCQX:BRGYY), WSJ reports. The episode is among the […]

Regulatory worries, energy prices take shine off Shell-BG deal

…persistently low oil prices could yet lead Shell to rethink the deal are dampening sentiment. That has left BG shares trading at a discount to the Shell cash and share offer. LONDON | BY RONBOUSSO: Business News | Tue Sep 8, 2015 A look at valuations illustrates how regulatory concerns and stubbornly low energy prices have […]

Australia Defers Decision on Shell’s Takeover of BG

Australia and China are the two regulatory hurdles yet to be cleared after Europe’s highest antitrust regulator approved the deal unconditionally on Wednesday By ROBB STEWART: Sept. 2, 2015 MELBOURNE, Australia–Australia’s antitrust regulator has given itself more time to consider Royal Dutch Shell PLC’s planned takeover of U.K.-based oil-and-gas firm BG Group PLC. FULL ARTICLE

ACCC defers decision on Royal Dutch Shell’s $US70b BG Group takeover

BG’s Queensland Curtis LNG plant would be owned by Shell if the merger is approved. Photo: Bechtel Royal Dutch Shell Group will have to wait a bit longer for Australian regulatory clearance of its proposed $US70 billion ($99.4 billion) takeover of BG Group after the national competition authority delayed its decision on the deal. The decision, […]

Exclusive : BG puts Thai gas field stake worth $1.2 billion on sale – sources

HONG KONG/LONDON | BY DENNY THOMAS AND RON BOUSSO: TUESDAY Sept 1, 2015 BG Group plc, which is being acquired by Royal Dutch Shell plc, has put up for sale its 22.2 percent stake valued at around $1.2 billion in Thailand’s huge Bongkot offshore gas field, people familiar with the matter said. The move represents […]

How Chevron, Exxon and Shell Will Be Impacted By Australian Tax Legislation

By: MICHEAL KAUFMAN: Aug 17, 2015 In the past, Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM) and Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) have managed to charge high interest rates from their Australian subsidiaries for the funding of their $54 billion Gorgon project. The high interest payments allowed the oil majors to enjoy massive tax-free […]

Shell pumped $20 billion a year from motorists but paid no company tax

Michael West: 9 August 2015 For the third year on the trot, Shell service stations generated billions of dollars and revenue but not a cent in company tax. In fact the owners of the sunny yellow servos reported tax benefits in all three years despite total sales which may be in excess of $60 billion. This is an […]

Shell toughens local project hurdles

Matt Chambers: Resources Reporter: Melbourne: 31 July 2015 Oil major Shell has laid down tougher hurdles for its Australian projects including Browse LNG off Western Australia and Arrow coal-seam gas in Queensland. It has cut the oil price at which new projects need to go ahead and flagged a major LNG project ­pipeline overhaul if its planned […]

Royal Dutch Shell signals Browse FLNG go-ahead far from certain for 2016

By Angela Macdonald-Smith: Jul 30 2015 Royal Dutch Shell has signalled that a final go-ahead next year for the Browse floating liquefied natural gas project in Western Australia is far from a certainty given the cost challenges of the venture in the depressed oil price environment. Chief financial officer Simon Henry listed Browse among several large international […]

Not Deterred By Huge Risks, Shell Opts For Megaprojects

It is curious then that Royal Dutch Shell is not ready to give up on the huge complex oil project. It is only a few weeks away from starting to drill in the Chukchi Sea, a campaign that has cost the company somewhere in the neighborhood of $7 billion so far, with very little results […]

Logistics and Lizards Disrupt Chevron’s Project Off Australia

Chevron agreed to share the cost with Exxon Mobil, Shell and three Japanese power companies, Osaka Gas, Tokyo Gas and Chubu Electric Power. “This is probably the last of the megaprojects for the oil companies for a while…” By A. ODYSSEUS PATRICK: JULY 3, 2015 SYDNEY, Australia — Getting anything to Chevron’s gas-processing plant on Barrow Island […]

Shell awards contracts for its $40bn Browse project

Written by Rita Brown – 03/07/2015 Shell has awarded the Technip Samsung Consortium two contracts for its $40billion natural gas project in Australia. Shell’s Browse project covers the installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin. Shell, which has a 27% interest in the scheme, will […]

Warning on Shell megadeal

JOHN DAGGE: HERALD SUN: MELBOURNE: JUNE 24, 2015 ONE of Australia’s biggest plastic makers has added its voice to concerns about Shell’s planned takeover of BG Group, saying further consolidation in the gas industry will likely harm manufacturers.  Melbourne-based Qenos has also attacked Victoria’s ban on onshore oil and gas drilling, saying the restriction put at risk a […]

Gazprom set to build global strategic alliance with Shell

A Gazprom logo is displayed above its headquarters in Moscow. Gazprom is building a global strategic alliance with energy major Royal Dutch Shell that will include asset swaps and allow the Russian gas giant to penetrate new markets. The deal with Shell is a coup for Gazprom at a time when many Western companies are […]

Exclusive – Gazprom building global alliance with expanded Shell

  Exclusive – Gazprom building global alliance with expanded Shell The deal with Shell is a coup for Gazprom at a time when many Western companies are reducing their exposure to Russia because of Western sanctions over Moscow’s actions in Ukraine. Gazprom, which is under U.S. but not EU sanctions… Fri Jun 19, 2015 Gazprom […]

ACCC kicks of inquiry into Shell’s BG Group takeover

ACCC kicks of inquiry into Shell’s BG Group takeover Angela Macdonald-Smith: Energy Reporter:Published 12 June 2015 The national competition watchdog has kicked off an examination of Royal Dutch Shell’s proposed $90 billion takeover of BG Group, with the focus set to land on the impact of further consolidation on the east coast market where manufacturers are already struggling […]

Woodside muscling onto BG-Shell turf with global LNG push

Woodside muscling onto BG-Shell turf with global LNG push PARIS, JUNE 4 | BY OLEG VUKMANOVIC Australia’s Woodside Petroleum is expanding its liquefied natural gas (LNG) business and aims to build a global supply network ahead of an expected surge in trading of the fuel, its chief executive said in an interview. Peter Coleman said […]

Shell CFO Expects Oil Rebound as Shale Fails to Fill Supply Gap

Article by Firat Kayakiran and Jonathan Ferro published 3 June 2015 by Royal Dutch Shell Plc sees oil prices increasing because supply from shale drilling in the U.S. won’t be enough to meet increasing global demand. The industry needs to find an additional 4 million barrels to 5 million barrels a day of supply every year to […]