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Posts under ‘Bloomberg’

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 […]

The dramatic consequences of plunging oil prices

“Brent futures are set to fall to as low as $31 a barrel by the end of the first quarter from about $48 now.”; “People know these prices are unsustainable,” he said, and they will lead to large-scale layoffs and cuts in maintenance spending, which will eventually sharply reduce overall output. BP’s announcement of layoffs was […]

Arctic Explorers Retreat From Hostile Waters With Oil Prices Low

From an article by Mikael Holter published 14 Jan 2015 by Bloomberg under the headline: “Arctic Explorers Retreat From Hostile Waters With Oil Prices Low” When Statoil ASA (STL) acquired the last of three licenses off Greenland’s west coast in January 2012, oil at more than $110 a barrel made exploring the iceberg-ridden waters an […]

Brace for $40-a-barrel oil

FROM AN ARTICLE BY GRANT SMITH PUBLISHED BY BLOOMBERG.COM ON 14 JAN 2015 UNDER THE HEADLINE: Oil at $40, and Below, Gaining Traction on Wall Street Extracts Brace for $40-a-barrel oil. The U.S. benchmark crude price, down more than $60 since June to below $45 yesterday, is on the way to this next threshold, said […]

Shell puts the brakes on

By John Donovan In response to the collapse in the price of oil, Shell and Qatar Petroleum have abandoned a $6.4 billion joint venture to build a petrochemical complex in the Ras Laffan Industrial City.  Extract from a Reuters Report:, Prices quoted by companies to build the huge complex showed the project was “commercially unfeasible, […]

Shell, Total Lead Energy Shares Lower – $45 a barrel

From an article by Alan Soughley published by BloombergBusinessweek 13 Jan 2015 under the headline:  “European Stocks Decline; Shell, Total Lead Energy Shares Lower” Extracts Royal Dutch Shell Plc and Total SA led energy-related companies lower… A gauge of energy stocks slid 1 percent today, for the worst performance of the 19 industry groups on […]

Oil prices renewed their declines on Monday, dropping below $49 a barrel

Article by Ron Bousso published 12 Jan 2015 by Reuters under the headline: “Oil prices extend falls; Goldman Sachs slashes forecasts” LONDON (Reuters) – Oil prices renewed their declines on Monday, dropping below $49 a barrel as Goldman Sachs slashed its short-term forecasts and Gulf producers showed no signs of cutting production. Both Brent and […]

Panic sets in: Shell Canada job cuts

From Business News Network: 9 Jan 2015 BNN Exclusive: Shell Canada lays off oil sands workers read moreLike this:Like Loading…

Market Collapse: 5 percent of Shell’s capital invested in money-losing projects?

From an article by Joe Carroll and Tara Patel published 6 Jan 2015 by BloombergBusinessweek under the headline: “Oilfield Writedowns Loom as Market Collapse Guts Drilling Values”  Shell, Europe’s largest energy producer, may have as much as 5 percent of its capital tied up in money-losing projects. Extracts Tumbling crude prices will trigger a flood […]

BP probes traders on rigging of £3 trillion-a-day market

Extracts from an energyvoice.com article dated 31 Dec 2014 News service Bloomberg said it had seen copies of messages sent to the oil giant’s staff from firms whose senior forex traders belonged to a chatroom known as “The Cartel”. Oil giant BP faces being drawn into the foreign exchange (forex) rigging scandal after it emerged […]

Oil prices down by almost 50%

From an article published by Bloomberg News Friday 2 Jan 2015 Oil dropped to the lowest in more than five and a half years amid growing supply from Russia and Iraq and signs of manufacturing weakness in Europe and China. Oil output in Russia and Iraq surged to the highest levels in decades in December, […]

Shell may exit Japan

According to a report in the Nikkei business daily Royal Dutch Shell will likely exit the oil-refining and sales business in Japan. Japan’s second-largest oil distributor Idemitsu Kosan is planning to acquire its smaller rival Shell Sekiyu in a deal worth an estimated $4.18 billion. Idemitsu and Shell are expected to sign a basic agreement as […]

Many predicting oil prices as low as $40 per barrel

With the oil market appearing set to endure worsening fundamentals over the next few years at least, shareholders could see dividends at Shell come under severe pressure once again. FROM AN ARTICLE BY ROYSTON WILD PUBLISHED BY THE MOTLEY FOOL ON MON 15 DEC 2014 Headline: Is Royal Dutch Shell Plc Really Robust Enough To […]