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Posts under ‘Bloomberg’

Nigeria Oil Thieves Keep a Lid on Output Even as Bombs Abate

As much as 30 percent of the oil sent by pipelines through the swampy Niger River delta is stolen… The 60,000-barrel-a-day flow station, owned by Royal Dutch Shell Plc’s Nigerian unit and idle for most of June, illustrates the nation’s struggle to restore deliveries of its most vital resource. Even after the government quelled a militant uprising that sent production to a 30-year low last August, smaller-scale sabotage caused by people trying to steal oil remains rife.

FULL ARTICLE BY PAUL WALLACE read more

Shell News 12 July 2017

Oil Majors Face Ratings Cuts Amid Weak Recovery, S&P Global Says: Bloomberg 12 July 2017

Exxon Mobil Corp., Chevron Corp. and other oil majors could see their credit ratings slashed again if they fail to cut costs and reduce their growing debt loads in the next year, according to an S&P Global Ratings report. READ MORE

Shell and other supermajors say ‘no plans’ for return of Super Pumas: EnergyVoice.com: 12 July 2017

The Anglo Dutch giant has confirmed that the aircraft, which were subject to a lengthy grounding following a fatal crash off Norway last year, does not feature in the future of the firm’s UK operations despite aviation watchdogs making moves to lift the flight ban. READ MORE read more

More Shell News 10 July 2017

Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020: Bloomberg: 10 July 2017

Royal Dutch Shell Plc plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates. READ MORE

Shell No.9 in Top 100 greenhouse gas emitters since 1988 read more

OIL PRICE NEWS

Crude Slump Wipes $113 Billion From Oil Drillers: Bloomberg: 30 June 2017

Oil companies have spent three years slashing spending and firing workers to protect profits, only to find their hard work blown away as prices entered another bear market.

Big Oil’s Costly Love Affair With the British Pensioner: Bloomberg 29 June 2017

Now, with oil prices falling back into a bear market, the dividend yields of several European integrated oil stocks have widened again.

Oil Snaps Longest Gain in a Month on Signs U.S. Supplies Rose: 28 June 2017 read more

Further Shell News Update 27 June 2017

Canada M&A Hits Decade-High as Foreign Owners Flee Oil Sands: Bloomberg: 27 June 2017

Mergers and acquisitions in Canada are set for the strongest start in a decade as foreigners sell their oil sands investments. ConocoPhillips and Royal Dutch Shell Plc are leading the exodus amid a bear market for crude.

Big Oil: Surviving at $40, Thriving at $60: Barron’s: 26 June 2017

The price of oil is rising today, but that hasn’t helped oil stocks like ExxonMobil (XOM), Chevron (CVX), Total (TOT), and Royal Dutch Shell (RDS.A), which remain little changed or under pressure. We expect companies to continue pulling on all operational and financial levers in order to adjust to the oil price reality… read more

Shell News Update 26 June 2017

Hackers Hit 75% of Drillers as Sketchy Monitoring Is Blamed: Bloomberg: 26 June 2017

Three out of four oil and natural gas companies fell victim to at least one cyber attack last year as hacking efforts against the industry become more frequent and sophisticated. That’s the finding from a report released Monday by industry consultant Deloitte LLP. Technology advances, such as Royal Dutch Shell Plc’s recent control of operations in Argentina from an operating center in Canada, offer new openings for hackers, the authors wrote.

China pumps cash into African floating LNG projects in strategic push: Reuters: 26 June 2017

The $12.6 billion Prelude project, which is due to start operating off Australia in 2018, is typical of those conceived during the era of high energy prices. read more

Shell News Update 23 June 2017

Ben van Beurden bows to Putin at an earlier meeting (On 18 April 2014) See article below – Shell firmly integrated in Russia…

Shell’s $1 Billion New Zealand Sale Said to Draw OMV, Vermilion: Bloomberg: 23 June 2017

Royal Dutch Shell Plc’s sale of its remaining New Zealand energy assets has drawn interest from companies including OMV AG and Vermilion Energy Inc., people with knowledge of the matter said.

Shell ‘shells out’ $75 a foot for pipeline easements: 23 June 2017

Court records suggest that Shell’s latest pipeline easement agreements in Pennsylvania will cost $75 a foot to carry ethane to its new ethane cracker facility.

Shell Company Firmly Integrated in Russian Economy, PM Medvedev Says: Sputnik: 22 June 2017

Earlier in the day, Russian President Vladimir Putin held a meeting with Royal Dutch Shell CEO Ben van Beurden to discuss the plans regarding the company’s future work in Russia, including the construction and financing of the Nord Stream 2 gas pipeline project. read more

Shell News Update 14 June 2017

Shell to cash in $10bn from divestments in second half: EnergyVoice.com: 14 June 2017

The Anglo-Dutch energy giant’s net debt currently stands about $72billion and Shell wants to shave off about $20billion to reduce gearing − the level of a company’s debt related to its equity capital − to around 20%. Shell is in the midst of a push to sell $30billion worth of assets between 2016 and 2018 to rebalance its books following its takeover of BG Group.

UK Government pays Shell £112m tax rebate despite oil giant making billions in profits: Independent: 14June 2017

Most of the payment from HM Revenue and Customs is a contribution towards Shell’s costs for decommissioning its North Sea oil and gas fields. It follows a similar payment of £85m in 2016. read more

Shell News Update Friday 9 June 2017

Shell: step up building huge North Sea offshore wind farms: DutchNews.nl: 9 June 2017

Wind energy not only has the potential to develop into the most important sustainable energy source, but it is also the cheapest means of generating power, according to Mark Gainsborough, head of Royal Dutch/Shell’s new energy division.

Energy Cos. Dodge Oil Price Manipulation Suits: LAW360: 8 June 2017

A New York federal judge on Thursday nixed multidistrict litigation complaints by derivatives traders and landowners alleging a slew of energy companies manipulated the price of North Sea Brent crude oil and Brent crude futures, saying they haven’t sufficiently linked the activity to any alleged economic harm they suffered. read more

Shell News Headlines Updated 26 May 2017

Energy-Generating Kites Backed by Shell Set for Test in Scotland: Bloomberg/Quint: 26 May 2017

Power-generating kites backed by Royal Dutch Shell Plc, Schlumberger Ltd. and EON SE will start tests in the U.K. this summer, with the aim of developing a technology that could eventually replace offshore wind turbines. Kite Power Systems, known as KPS, is working on a 17-meter device that flies on air currents high above the ground and generates power by pulling at a cable. It raised 5 million pounds ($6.4 million) from the three energy giants last December. “The reason we are interested in something like this is that it has potential to reduce the cost of offshore wind in the future,” said Geert van de Wouw, managing director of Shell Technology Ventures BV. read more

How Shell, Eni Got Enmeshed in $1 Billion Scandal

Royal Dutch Shell Plc and Eni SpA have become entangled in a $1.1 billion bribery scandal involving a field in Nigeria that could potentially hold enough crude to meet three months of the world’s demand. At least three countries are probing the companies, and Italian prosecutors have named Eni’s Chief Executive Officer Claudio Descalzi and Shell’s former head of exploration and production, Malcolm Brinded, among people who could be prosecuted. Nigeria’s anti-graft agency also filed charges against the companies in March. read more

Shell news update 4 May 2017

Shell Pumps a Torrent of Cash as Takeover, Cost Cuts Pay Off: Bloomberg.com: 4 May 2017

The Anglo-Dutch company’s performance helps validate Chief Executive Officer Ben Van Beurden’s $54 billion purchase of BG Group Plc — for which some shareholders complained he overpaid — and the deep spending cuts and asset sales he undertook to protect the balance sheet.

Nigeria: Despite Malabu Scandal, Shell, Eni Will Continue to Operate OPL 245 – Govt: Premium Times: 3 May 2017

The Federal Government says the Zabazaba deepwater project in Oil Prospecting Lease (OPL) 245 will continue in spite of controversies surrounding the oil block.

How Earthquakes Might Be Crimes in Netherlands: Bloomberg.com: 3 May 2017

Can a natural disaster be a crime? That’s the question in The Netherlands, where an investigation has been ordered into whether Royal Dutch Shell Plc and Exxon Mobil Corp. are criminally responsible for earthquakes triggered by production at Europe’s largest natural gas field, Groningen. Some of the earthquakes have been strong enough to damage homes… read more

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