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Posts under ‘Bloomberg’

Dutch Court to Review Gas Output in Part of Groningen Field

By Isis Almeida and Elco Van Groningen: Published 21 May 2015 by Bloomberg.com A Dutch court will review natural gas production at a cluster of the Groningen field, Europe’s biggest, after earthquakes linked to extraction damaged buildings in the Netherlands’ most northern province. The Administrative Jurisdiction Division of the Council of State will review production at the […]

Obama Seeks Oil Demand, Climate Balance With Shell Arctic Permit

Article by Rakteem Katakey published 18 May 2015 by Bloomberg.com U.S. President Barack Obama is balancing the need to meet oil demand and concerns about climate change as his government considers final approvals for Royal Dutch Shell Plc’s Arctic drilling plans, according to a state department official. “If you go up to Alaska and speak to many […]

Oil Company Spooks: BP Appoints Britain’s Former Chief Spy to Board

14 MAY 2015 BP Plc, the former state-owned oil company with operations from Russia to Iraq, appointed the retired chief of Britain’s overseas spying network as a board member. John Sawers was head of the MI6 service until November 2014. Oil company involvement with spies is nothing new.  On 17 June 2001, The Sunday Times published […]

Why is Shell steaming toward risk with oil at $65 a barrel?

By Eric Roston published 16 May 2015 by Bloomberg.com In December 1979, in the wake of the Iranian revolution and the oil price shock, executives from the biggest energy companies converged on Fairbanks for an auction of leases to drill in Alaska’s Beaufort Sea. Oil was nearing a then-record $29 a barrel. “This is the hottest area in […]

Shell to Add Firepower to BG Assets in East Africa LNG Race

Article by Paul Burkhardt published 12 May 2015 by Bloomberg.com Royal Dutch Shell Plc’s $70 billion takeover of BG Group Plc will put Europe’s largest energy company in the middle of East Africa’s race to export natural gas and is set to boost the chances of Tanzania becoming a major supplier. The acquisition would include stakes in […]

BG Group’s profits gush ahead of forecasts

BG Group’s profits gush ahead of forecasts: 8 May 2015 UK energy company BG Group has reported forecast-busting quarterly earnings, as it prepares for a £55bn takeover by larger rival Royal Dutch Shell. SOURCE RELATED BG Group’s profits slide ahead of Shell deal: RTE NEWS: Friday 8 May 2015 British energy firm BG Group, facing a […]

Jim Chanos just delivered a presentation slamming a $70 billion energy deal people have been swooning over

Jim Chanos just delivered a presentation slamming a $70 billion energy deal people have been swooning over By Linette Lopez: 7 May 2015 Last month, when the news broke that Royal Dutch Shell was in talks to buy British energy company BG Group, the market gave it the normal golf clap that it gives to […]

Shell share price: boss to present BG merger case to China regulators

Article by Veselin Valchev published Wednesday, 06 May 2015 by invezz.com Shell share price: boss to present BG merger case to China regulators Ben van Beurden on tour to win authorities’ approval for £47bn deal Royal Dutch Shell Plc’s (LON:RDSA) chief executive Ben van Beurden is scheduled to visit China this week, in what analysts say is […]

Shell Chief Visits China to Win Backing for $70 Billion BG Deal

Article by Rakteem Katakey published 6 May 2015 by Bloomberg.com The biggest obstacle to Royal Dutch Shell Plc’s $70 billion offer for BG Group Plc probably lies in China. Shell Chief Executive Officer Ben Van Beurden visits the country this week to convince officials that the combination of two large oil and gas producers poses little risk […]

UK government could step in to stop a BP takeover as rumours swirl off possible US interest in wake of Shell deal for BG Group

UK government could step in to stop a BP takeover as rumours swirl off possible US interest in wake of Shell deal for BG Group By LAURA CHESTERS FOR THE DAILY MAIL: 27 APRIL 2015 The British government could step in to protect oil giant BP from any potential takeover amid rumours US groups ExxonMobil […]

BP Readies Defenses as Oil Industry Responds to Shell’s BG Raid

Article by Rakteem Katakey, Matthew Campbell and Dinesh Nair published 21 April 2015 by Bloomberg.com As the oil industry takes stock of Royal Dutch Shell Plc’s $70 billion move for BG Group Plc, one company has more to chew on than most. BP Plc, the U.K.’s most storied oil producer and prime mover in previous rounds of consolidation, is […]

Shell Learned Some ‘Expensive Lessons’ in Arctic, Jewell Says

Article by Harry Weber published April 20, 2015 by Bloomberg.com Royal Dutch Shell Plc learned “some very painful and expensive lessons about contractors” from its mishaps drilling in the Arctic in 2012, U.S. Interior Secretary Sally Jewell said. Shell learned how to better manage companies it relies on for critical aspects of its offshore drilling programs, Jewell […]

Shell Said to Hire Barclays to Arrange $15 Billion BG Loan

Article by Stephen Morris published 17 April 2015 by Bloomberg.com Royal Dutch Shell Plc hired Barclays Plc to help arrange a 10 billion pound ($15 billion) loan to help fund its purchase of BG Group Plc, two people with knowledge of the matter said. The short-term bridge facility will replace an existing 3 billion-pound loan provided […]

Oil CEO Wages Immune to Price Slump as Shareholders Vote on Pay

Article by Rakteem Katakey published 15 April 2015 by Bloomberg.com Ben van Beurden, Chief Executive Officer of Royal Dutch Shell Plc, pauses as the company announce their fourth-quarter results in London on Jan. 29. Photographer: Chris Ratcliffe/Bloomberg Oil’s plunge has forced the world’s biggest energy producers to lay off workers and stall projects. Their chief executive […]

Dutch Court Limits Loppersum Gas Output in Groningen Region

Article by Isis AlmeidaElco and Van Groningen published 14 April 2015 by Bloomberg.com Dutch court limits fracking on earthquake fears A Dutch court suspended gas production from the Loppersum area of the Groningen natural gas field, Europe’s biggest, as earthquakes linked to production damaged homes. Loppersum, which pumps less than 10 percent of the field’s output, may […]

Dutch Court to Rule on Gas Output From Europe’s Biggest Field

Article by Isis Almeida published 13 April 2015 by Bloomberg.com The Netherlands, the biggest gas producer in the European Union, said Feb. 9 it would limit output from the field during the first half of the year, sending prices up 13 percent that week. Unrelated to the court case, the government has also said it […]

Shell’s Huge Gas Bet Underscores Big Oil’s Push to Replace Coal

Article by Javier Blas and Rakteem Katakey published 10 April 2015 by Bloomberg.com BP Plc coined the slogan “Beyond Petroleum.” The new industry mantra might be “Beyond Oil and Into Gas.” Oh, and while we’re at it, “Down With Coal.” Consider Royal Dutch Shell Plc’s recent $70 billion acquisition of BG Group Plc — clearly a huge bet […]

Could Shell-BG Deal Revive Exxon-BP Merger?

By: MICHEAL KAUFMAN: Published: Apr 9, 2015 at 8:05 am EST Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has announced an agreement to acquire UK-based BG Group plc (ADR) (OTCMKTS:BRGYY) in a massive $70 billion deal. It is one of the biggest merger and acquisition deals in the oil sector for over a decade, and could become […]

Exxon, BP in Deal Spotlight After Shell Buys BG Group

Article by Tara Lachapelle and Brooke Sutherland published 8 April 2015 by Bloomberg.com Now that Royal Dutch Shell Plc has made its move for BG Group Plc, Exxon Mobil Corp. and BP Plc could contemplate deals — perhaps even with each other. Speculation of an Exxon-BP combination surfaced last year after oil prices declined sharply, increasing the appeal […]

Shell Will Buy BG for $70 Billion in Push for Gas Dominance

by Javier BlasRakteem Katakey for Bloomberg.com Royal Dutch Shell Plc agreed to buy BG Group Plc for about 47 billion pounds ($70 billion), making Europe’s largest oil company the pre-eminent player in global natural gas and adding fields in Brazil. The deal, the industry’s biggest in at least a decade, will push Shell further into producing, […]

Shell Gas Leak

By John Donovan Yesterday lunchtime, I got a whiff of what I now know to be the Shell takeover of BG Group.  The information was unclear and my Shell related source made it plain that it was a rumour emanating from a third party, but one with “good ears” and miscellaneous contacts.  The main thrust of […]

Buying BG Would Give Shell Answer to Stranded Australian Gas

Article by James Paton published 8 April 2015 by Bloomberg Royal Dutch Shell Plc is seeking an outlet for its natural gas reserves in Australia’s Queensland state. The proposed acquisition of BG Group Plc could provide one. If Shell buys BG, the combined company would surpass Chevron Corp. as the world’s second-largest oil and gas […]

Can Iran Attract Foreign Investments By Oil Majors Such As BP And Shell plc?

By: MICHEAL KAUFMAN: Published: Apr 1, 2015 at 8:34 am EST Recently, Iran has been exposed to numerous sanctions by the West over concerns that the country was developing a nuclear project. However, talks between the US and Iran have started over a new nuclear deal. If the deal is successful, then sanctions are expected to […]

Iran riches coveted by big oil after decades of conflict

Extracts from a Bloomberg article published 31 March 2015 Iran riches coveted by big oil after decades of conflict Now, as Iran and the US enter 11th hour negotiations to reach a nuclear deal and ease sanctions, the West Asian country is emerging again as a potential prize for western oil companies such as BP, […]

How Shell, BP, And Total SA, Can Profit From The Oil Price Crash

By: MICHEAL KAUFMAN: Published: Mar 30, 2015 at 9:26 am EST Despite largely unfavorable movement in crude oil price during the recent months, some of Europe’s biggest oil companies are finding support from trading desks as they face a prolonged slump, which has seen oil price hit six-year lows. In the three years before the summer […]

Shell and Eni Struggle To Control Oil Spills In Nigeria

By: MICHEAL KAUFMAN Published: Mar 20, 2015 at 9:35 am EST As reported by Bloomberg, Amnesty International has indicated that Royal Dutch Shell plc (ADR) (NYSE:RDS.A) and Eni SpA (ADR) (NYSE:E) are finding it difficult to control the oil spills in Nigeria. Amnesty International asserted that both companies have been involved in over 550 oil […]

Shell, Eni Making No Progress on Nigeria Oil Spills: Amnesty

(Bloomberg) — Royal Dutch Shell Plc is making no progress curbing oil spills in Nigeria and Eni SpA’s operations in the West African country are out of control, according to Amnesty International. The two companies reported more than 550 spills in the southern oil-rich Niger River delta last year, compared with an average of 10 […]

How Big Oil Is Profiting From the Slump

From an article by Javier Blas published 12 March 2015 by Bloomberg (Bloomberg) — Europe’s largest oil companies are gaining support from an unlikely source as they confront the industry’s worst slump since the financial crisis: lower oil prices. Although better known for their oil fields, refineries, and petrol stations, BP Plc, Royal Dutch Shell […]

Dutch Quakes Toss Wrench Into Gears of Europe Gas Market

Article by Isis Almeida published 10 March 2015 by Bloomberg Dutch Quakes Toss Wrench Into Gears of Europe Gas Market (Bloomberg) — Dutch communities rattled by earthquakes are upending Europe’s energy market. Towns in the northern province of Groningen sit atop the continent’s biggest gas field, where the Dutch government says exploration by Royal Dutch […]

More Steelworkers Cross Picket Lines as Refinery Strike Drags on

Article by Zain Shauk published 4 March 2015 by Bloomberg.com More Steelworkers Cross Picket Lines as Refinery Strike Drags on (Bloomberg) — Royal Dutch Shell Plc said more than 20 percent of about 800 union workers at its Deer Park refinery in Texas have crossed picket lines, undermining a strike that has entered its second month. […]

Shell unveils plan to replace union workers 2 days before talks

(Bloomberg) — Two days before contract negotiations are scheduled to resume between Royal Dutch Shell Plc and the United Steelworkers’ oil union, the company announced plans to run its second-largest U.S. refinery without union labor. Shell will have trained and deployed enough “relief workers” by mid-summer to keep the 327,000-barrel-a-day Deer Park refinery in Texas […]

New safety rules for offshore Arctic drilling proposed to avoid repeat of Shell disaster

New safety rules for offshore Arctic drilling proposed to avoid repeat of Shell disaster US officials want to make sure companies can handle a blow-out in remote and icy conditions – without inflicting an environmental disaster Suzanne Goldenberg in Washington The Obama administration proposed new rules for Arctic oil drilling on Friday in an attempt […]

Arctic Oil On Life Support

From an OilPrice.com article by Nick Cunningham published 1 Feb 2015 under the headline: “Arctic Oil On LifeSupport” Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost […]

Shell’s Draugen field at risk of being scrapped

Bloomberg article by Dinesh Nair and Jillian Ward published 2 Feb 2015 under the headline: “North Sea Oil Turns Buyer’s Market as Apache, BG Group Want Out” (Bloomberg) — Want to buy an oil well in U.K.’s North Sea? There are plenty available as some of the industry’s largest names try to sell aging, costly wells […]

Oil Workers in U.S. Begin First Large-Scale Strike Since 1980

From an article by Lynn Doan and Barbara Powell published on 1 Feb 2015 by Bloomberg under the headline: “Oil Workers in U.S. Begin First Large-Scale Strike Since 1980″ Shell activated a “contingency plan” (Bloomberg) — The United Steelworkers union, which represents employees at more than 200 U.S. oil refineries, terminals, pipelines and chemical plants, began […]

Shell, Exxon Sell North Sea Field to ONE After Oil-Price Rout

Article by Jillian Ward published 29 Jan 2015 by Bloomberg under the headline: “Shell, Exxon Sell North Sea Field to ONE After Oil-Price Rout” Extracts (Bloomberg) — Royal Dutch Shell Plc and Exxon Mobil Corp. have sold their stakes in the Sean field to Oranje-Nassau Energie BV for an undisclosed sum as drillers seek to […]

Shell Chief Pledges Everything to Maintain Its ‘Iconic’ Dividend

BLOOMBERG: Shell Chief Pledges Everything to Maintain Its ‘Iconic’ Dividend by Nidaa Bakhsh and Mark Barton (Bloomberg) — Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden pledged to do all he can to maintain payments to shareholders of Europe’s largest oil company after crude prices fell by more than half in the past six months. […]

Crude at $49: The New Reality for Big Oil Companies

FROM BLOOMBERG Crude at $49: The New Reality for Big Oil Companies by Joe Carroll (Bloomberg) — Financial results from a fourth quarter that saw the collapse of the crude market will provide a window into how the world’s biggest oil companies are adjusting to a new reality of slowing growth and low prices. Oil that […]

U.S. Seen Limiting Oil Drilling in Arctic, May Open Atlantic

26 JAN 2015 (Bloomberg) — The U.S. Interior Department will lay a framework as soon as Tuesday for oil exploration in the nation’s coastal waters in a five-year plan that is expected to withdraw areas off Alaska while possibly adding parts of the Atlantic. Republican Lisa Murkowski said the head of the offshore energy office […]

Shell stokes up its fire sale

Introduction by John Donovan Bloomberg is reporting that Shell has agreed to sell its stake in the Bijupira and Salema fields in Brazil. This development is no doubt in response to the collapse in oil prices and is stoking up the fire sale instituted by CEO Ben van Beurden when Shell announced a profits warning […]