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Posts under ‘Bloomberg’

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 […]

Exxon’s Dutch Gas Gag

Liam Denning: November 18, 2015 If you’ve never been to Groningen, it’s a pleasant college town in the northern Netherlands. It also happens to share its name with one of the world’s largest natural gas fields. Tourists are best advised to focus on the scenic bicycling routes. Exxon Mobil is more attuned to what lies […]

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

Anna Shiryaevskaya, Fred Pals and Kelly Gilblom: 18 November 2015: Final ruling Wednesday on output from EU’s biggest gas field Government plans to decide on future production in December A Dutch court will Wednesday decide on the future of Europe’s largest natural gas field as local residents seek to stop tremor-inducing production that’s damaging their houses. […]

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 […]

Shell Plans to Retain Four Senior BG Executives After Merger

By Javier Blas: November 16, 2015 BG COO Sami Iskander to join Shell as head of joint ventures Shell to retain head of BG trading business Steve Hill Royal Dutch Shell Plc plans to retain four senior executives from BG Group Plc after the merger between the two oil and gas groups completes next year, according […]

Shell share price: Company not giving up on oil sands

by Veselin Valchev: Wednesday, 11 Nov 2015 Royal Dutch Shell Plc (LON:RDSA) boss Ben van Beurden said last week that the withdrawal from the Carmon Creek thermal oil sands project in Alberta, Canada, does not mean that the Anglo-Dutch oil major has given up on oil sands in general. Shell’s chief executive noted that the company […]

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 […]

Shell Steams Ahead With BG Takeover With Promise of More Savings

Rakteem Katakey: November 3, 2015: Raises estimates of savings after combination to $3.5 billion Gas business becomes stand-alone unit under Maarten Wetselaar Royal Dutch Shell Plc said its record takeover of BG Group Plc will still deliver value to investors even in a prolonged oil-industry downturn and reshaped its business in preparation for the […]

Shell Reorganizes Natural Gas Business as BG Takeover Approaches

Rakteem Katakey: November 3, 2015: Maarten Wetselaar to lead stand-alone Integrated Gas business Marvin Odum to lead new Unconventional Resources unit Royal Dutch Shell Plc announced organizational changes in its business as it prepares for its biggest ever takeover amid what it expects to be a prolonged downturn in oil prices. Europe’s biggest oil […]

Shell Fails to Clean Four Nigeria Oil Spill Sites, Amnesty Says

Abandoned fishing boats in Ogoniland Photographer: Pius Utomi Ekpei/AFP via Getty Images Chris Kay: November 3, 2015: Nigerian regulator incorrectly said spill sites clean Shell says oil theft, illegal refining a persistent challenge Royal Dutch Shell Plc has failed to clean up four oil-spill sites in the crude-producing Niger River delta, three of which an under-resourced […]

Shell’s $7.4B loss raises stakes for CEO’s big deal

By Rakteem Katakey Bloomberg News: Oct 29 2015 Royal Dutch Shell’s worst loss in at least 16 years has further stoked concerns about the wisdom of buying BG Group. For now at least, investors are still giving Chief Executive Ben Van Beurden the benefit of the doubt. Europe’s biggest oil company said it will press ahead […]

Shell Leads $19 Billion of Gas, Oil Writedowns in Just One Week

Asjylyn Loder: 29 Oct 2015: Shell leads writedowns with $8.2 billion in impairments Predictions of future cash flow have fallen along with prices More than $19 billion in oil and gas writedowns have been reported in a single week as producers acknowledge what investors already knew. Royal Dutch Shell Plc leads the pack in recognizing […]

Shell Makes Biggest Net Loss in at Least a Decade on Price Slump

Rakteem Katakey: 29 October 2015 Company reports net loss after taking $7.9 billion charge Third-quarter adjusted profit drops 70% to $1.8 billion Royal Dutch Shell Plc reported its biggest net loss in at least a decade as it wrote down the value of assets and lowered its oil-price expectations. The company, which is buying BG […]

Shell Takes $2 Billion Charge to Quit Oil-Sands Project

David Marino: 27 October 2015 Company stops work at Carmon Creek facility in Alberta Halted oil-sands work follows Shell’s Arctic drilling exit Royal Dutch Shell Plc made its second major strategic change in two months, announcing it will take a $2 billion charge to exit an oil-sands project in Alberta. Shell is stopping construction on […]

Big Oil Is a Buy as Cutbacks Pave Way for Recovery

by Rakteem Katakey and Angelina Rascouet: Oct 20, 2015 Shell has highest percentage of buy ratings in three years Third-quarter earnings seen marking low point before rebound Energy companies are finally starting to come back into favor. After enduring the longest oil-price collapse in more than a decade, crashing profits and an investor exodus, Europe’s biggest producers are […]

Saudi Arabia’s Oil War With Russia

By Leonid Bershidsky: Oct 16, 2015 As President Vladimir Putin tries to restore Russia as a major player in the Middle East, Saudi Arabia is starting to attack on Russia’s traditional stomping ground by supplying lower-priced crude oil to Poland. At a recent investment forum, Igor Sechin, chief executive of Rosneft, Russia’s biggest oil company, […]

U.S. Cancels Remaining Arctic Oil Lease Sales Under Obama

Brian Wingfield and Joe Carroll: BLOOMBERG.COM: 17 October 2015 The U.S. Interior Department effectively halted drilling off Alaska’s coast for the remainder of President Barack Obama’s term by canceling two sales of Arctic oil and gas leases. The decision comes less than a month after Royal Dutch Shell Plc said it would indefinitely cease exploration […]

Big Oil’s Murky Climate

Big Oil truly is facing a conundrum of biblical proportions Liam Denning: October 16, 2015 Big Oil is getting religion — sort of. Ten major oil companies including Royal Dutch Shell, BP and Saudi Aramco declared on Friday that they totally get the climate change thing and would support measures aimed at preventing it.  […]

Shell Starts Nigeria Offshore Expansion of Up to 50,000 Barrels

Rakteem Katakey: 5 Oct 2015 Bonga phase 3 oil passes through floating production facility Shell has 55% of Bonga, Exxon 20%, Total, Agip 12.5% each Royal Dutch Shell Plc expanded oil production off Nigeria’s coast by starting the third phase of its Bonga field.  That phase has a peak production capacity of about 50,000 […]

Why Shell Quit Drilling in the Arctic

By Paul Barrett: BLOOMBERG.COM: 28 SEPT 2015: 6:12 PM BST Royal Dutch Shell’s abrupt announcement today that it would cease all offshore drilling in the Arctic is surprising for several reasons. One is the unusual degree of confidence the company expressed as recently as mid-August that it had identified 15 billion barrels of oil beneath the well […]

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 […]


18 September 2015 The short drilling season for oil exploration in U.S. Arctic offshore waters will reach one stopping point Sept. 28 and a complete halt Oct. 31 for Royal Dutch Shell Plc. The company has been drilling since July 30 at the Burger prospect in the Chukchi Sea north of Alaska. If oil is […]

EU Said to Ramp Up Oil-Benchmarks Probe With Evidence Request

Regulators may be moving toward sending antitrust complaint Probe began two years ago with raids on BP, Shell and Statoil By Gaspard Sebag and Javier Blas: BLOOMBERG.COM: 17 Sept 2015 Major oil companies including Royal Dutch Shell Plc and price publisher Platts were told by regulators to redact business secrets from documents obtained during antitrust raids in a […]

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 […]

Iraq Asks Oil Companies to Cut Spending After Drop in Prices

By Khalid Al Ansary: September 15, 2015 Iraq asked oil companies to reduce their 2016 spending plans in the country by Sept. 30, citing lower oil prices and government revenue. The reduced budgets shouldn’t affect 2015 production, Abdul Mahdy Al-Ameedi, director of licensing at Iraq’s oil ministry, said by phone Tuesday, citing a letter that the […]

Riled Locals Fight Output From Europe’s Largest Gas Field

Groningen gas field produces 61 percent of Dutch fuel Complainants say gas extraction has caused earthquakes By Kelly Gilblom: BLOOMBERG.COM: Sept 10, 2015 A Dutch court is set to hear arguments that production from Europe’s largest natural gas field should be suspended because of earthquakes linked to extraction. The Netherlands has progressively cut the amount of […]

Shell Cheapest in Six Years for Buyers Who Brave Takeover Doubts

“In the current oil situation, the market is also taking a view there’s a bit of risk that Shell could walk away,” By Rakteem Katakey: September 8, 2015 It’s the cheapest opportunity in six years to be a shareholder in Europe’s largest oil and gas company. BG Group Plc, the oil and gas producer Royal Dutch […]

Move Over Exxon, Russian Drillers Are Oil World’s Top Performers

By Stephen Bierman and Rakteem Katakey: Sept 8, 2015 At a time when the collapse in crude prices pushes Russia’s economy into a recession, the nation’s oil producers are managing to beat their western counterparts. On measures including cash flow, profit margins and share prices, OAO Rosneft, Lukoil PJSC — Russia’s two largest oil producers — and OAO […]

Market Rout

Oil’s slump has been brutal. More than half a trillion dollars of value has been wiped from the five biggest international oil companies — Exxon, Shell, Chevron, Total and BP — since mid-June last year. Rakteem Katakey: August 26, 2015: BLOOMBERG.COM Shares of the largest oil companies have slumped so low it suggests investors expect […]

Iran to Raise Oil Output ‘at Any Cost’ to Defend Market Share

U.S. benchmark West Texas Intermediate crude fell to less than $40 a barrel for the first time in more than six years in New York trading on Friday. Anthony Dipaola and Hashem Kalantari: BLOOMBERG.COM: 23 AUGUST 2015 Iran plans to raise oil production “at any cost” to defend the country’s market share and joins calls for […]

Shell Returns to Swiss Bond Market With Increased Debt Offering

AUG 17, 2015 – 17:00 (Bloomberg) — Royal Dutch Shell Plc sold bonds in the Swiss currency for the first time since 2006, increasing the offer to more than 1.3 billion francs ($1.3 billion) on strong demand. The oil giant issued 800 million francs of notes due in August 2023 and 525 million francs of […]

U.S. Puts Russian Gas Field Off Limits as Sanctions Tighten

The U.S. declared one of Russia’s largest offshore oil and natural gas fields off limits to American tools and expertise, potentially disrupting Royal Dutch Shell Plc’s plans… Stephen Bierman, Elena Mazneva and Joe CarrollL BLOOMBERG.COM: 7 AUGUST 2015 The U.S. declared one of Russia’s largest offshore oil and natural gas fields off limits to American tools […]

Why Native Alaskans Support Shell’s Arctic Drilling

by Paul Barrett: August 6, 2015: BLOOMBERG.COM Activists trying to stop Shell’s offshore oil drilling in the U.S.’s Arctic Ocean region invoke the interests of native Alaskans. “These communities depend on this environment for food and resources and have stewarded it for centuries,” Greenpeace says, as part of its “The People vs. Shell” campaign—what the group […]

Chevron Corporation, Royal Dutch Shell Plc & Other Oil Co.s Have Lost $1.3 Trillion Since Last Year

By: MICHEAL KAUFMAN: Aug 5, 2015 As the global benchmark of crude, Brent currently hovers around $50 per barrel. Meanwhile, the oil and gas industry has lost $1.30 trillion of its value this year, and this eroded value equals the annual gross domestic product (GDP) of Mexico. The combined market capitalization of 157 listed oil and […]

Inside Shell’s Extreme Plan to Drill for Oil in the Arctic

by Paul Barrett and Benjamin Elgin: 5 August 2015: BLOOMBERG.COM Protesters near the Polar Pioneer.: Photographer: Keri Coles/Greenpeace In a windowless conference room in Anchorage, a dozen Royal Dutch Shell employees report on the highest-profile oil project in the multinational’s vast global portfolio. Warmed by mid-July temperatures, Arctic ice in the Chukchi Sea, northwest of the Alaskan mainland, […]

Shell to Strengthen Russian Hand Through Gazprom Asset Swap

by Rakteem Katakey: August 3, 2015: BLOOMBERG.COM Royal Dutch Shell Plc will swap a stake in one of its international energy assets for part of Gazprom PJSC’s Sakhalin-3 project as Europe’s biggest oil company extends ties with Russia. The companies are discussing which asset would be offered to Gazprom, Shell Chief Executive Officer Ben Van Beurden […]

Shell Sells Japan Refiner Stake for $1.4 Billion to Idemitsu

by Tsuyoshi Inajima and Stephen Stapczynski: BLOOMBERG.COM: 30 JULY 2015 Royal Dutch Shell Plc agreed to sell a 33.24 percent stake in a Japanese refiner to Idemitsu Kosan Co. for about 169 billion yen ($1.4 billion). The deal for 125.3 million shares in Showa Shell Sekiyu KK is almost 23 percent more than the closing price Wednesday, […]

Shell to Cut 6,500 Jobs, Reduce Investment by $7 Billion

By Rakteem Katakey: July 30, 2015″ BLOOMBERG.COM Royal Dutch Shell Plc, the oil producer buying BG Group Plc for more than $70 billion, said it plans to cut 6,500 jobs this year and reduce capital investment by $7 billion. Shell is planning for a “prolonged downturn,” the company said Thursday in a statement. Its dividend commitment […]

Shell U.S. Unit May Drop ‘Oil’ From Name in Sign of Times

by Gerrit De Vynck: 9 July 2015 The U.S. unit of Royal Dutch Shell Plc may soon drop the word “oil” from its name in a move that would symbolize its transition to other sources of energy, an executive said. With Shell Oil Co.’s parent focusing more on natural gas and looking at other energy […]

BP Pays Record $18.7 Billion to Settle Claims in Gulf Oil Spill

By Margaret Cronin Fisk, Laurel Brubaker Calkins and Del Quentin Wilber: July 2, 2015 1:13 PM BST BP Plc will pay a record $18.7 billion to resolve claims by the U.S. and five states along the Gulf of Mexico related to the 2010 oil spill. The payments will be spaced out over as long as […]

Shell Executives Visit Tehran for Projects If Sanctions End

by Javier Blas 24 June 2015 Royal Dutch Shell Plc executives have visited Tehran to discuss possible partnerships, the latest sign that the largest oil companies are serious about returning to Iran once a deal on the country’s nuclear program is done. The meeting with Iranian officials covered its outstanding debt to National Iranian Oil Co. […]

How the European Oil Industry Decided to Save the Climate

By Javier Blas: June 23, 2015 By the time the convention chat turned into action, Royal Dutch Shell Plc, BP Plc, Total SA, Eni SpA, Statoil ASA and BG Group Plc published an unprecedented open letter on climate change. Breaking with their biggest U.S. competitors, they announced their support for efforts to put a cost […]

Shell Arctic Approval Near as Regulator Sees No Show Stopper article by Mark Drajem published 16 June 2015 Royal Dutch Shell Plc has received U.S. permission to disturb marine mammals as part of its plan to resume oil exploration off Alaska’s Arctic coast as it neared final sign-off from regulators to drill this summer. The last step in the process, approval of a specific drilling […]

Shell Gets U.S. Permit to Disturb Marine Life Off Alaska’s Coast article by Mark Drajem: June 16, 2015 Royal Dutch Shell Plc received U.S. approval to disturb marine mammals as part of its plan to resume oil exploration off Alaska’s Arctic coast. The National Oceanic and Atmospheric Administration issued an “incidental harassment authorization,” which allows noise from air guns, icebreaking, drilling and anchor handling. The June […]

U.S. Ousts Russia as Top World Oil, Gas Producer

Article by Rakteem Katakey published 10 June 2015 by The U.S. has taken Russia’s crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields. U.S. oil production rose to a record last year, gaining 1.6 million barrels a day, according […]

Groningen Gas Production Cut Due to Earthquakes

Article by Isis Almeida published 5 June 2015 by A proposed reduction in natural gas output at Groningen in the Netherlands, Europe’s biggest field, will probably be limited by the nation’s ability to convert imported fuel into the right quality for domestic use, GasTerra BV said. Groningen production needs to be about 33 billion cubic […]

Shell, BP Openly Admit Iran Interest on Possible Atomic Deal

Article by Javier Blas and Angelina Rascouet published 3 June 2015  by European oil majors are for the first time openly declaring interest in Iran in anticipation of a possible end to sanctions against the country over its nuclear program. Leaders of Royal Dutch Shell Plc, BP Plc and Total SA all said Wednesday they were ready […]

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 […]

Big Oil’s Plan to Become Big Gas

Article by Rakteem Katakey published 2 June 2015 by Shell CEO Ben Van Beurden…. said his company has changed from “an oil-and-gas company to a gas-and-oil company.” Oil companies that have pumped trillions of barrels of crude from the ground are now saying the future is in their other main product: natural gas, a fuel they’re […]

OPEC Seen Backing Saudi Arabia’s Plan to Keep Supplies Elevated

by Grant Smith and Maher Chmaytelli: 27 May 2015 When Saudi Arabia argues next week that OPEC should keep up production to fight the rise in U.S. shale oil, prices will be on its side. Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the […]