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Shell Atones for Its Past Sins

: Nov 28, 2017

It’s payback time for investors in Royal Dutch Shell Plc. Shareholders in the Anglo-Dutch oil company have had to endure receiving their dividends partly in stock throughout the industry price slump. This mild austerity is now ending. Shell is signalling that when it comes to spending its cash, shareholders will get first dibs. The move to a full cash dividend, announced on Tuesday, is only just affordable. Investors should feel lucky the dividend wasn’t cut. In the 12 months to Sept. 30, organic free cash flow of $17 billion wouldn’t have covered the full dividend bill plus interest on Shell’s $68 billion net debt. FULL ARTICLE read more

Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’

Norway’s proposal to sell off $35 billion in oil and natural gas stocks brings sudden and unparalleled heft to a once-grassroots movement to enlist investors in the fight against climate change. read more

Big Oil is under pressure, unloved and on sale

  • Norway wants to dump its stakes in oil and gas companies
  • Proposal adds to doubts over industry’s long-term outlook

Big Oil is under pressure, unloved and on sale.

Energy giants from Exxon Mobil Corp. to Royal Dutch Shell Plc are struggling back to their feet after a three-year oil slump, while also fighting to prove they can survive for decades to come amid an accelerating shift to clean energy. So getting dumped by the world’s biggest investment fund wouldn’t be welcome news.

Norway’s $1 trillion sovereign wealth fund said on Thursday that it wants to sell about $35 billion of shares in oil and gas companies to make the nation “less vulnerable” to a drop in crude prices. Global energy giants favored by long-term investors including Italy’s Eni SpA, PetroChina Ltd. and Russia’s Gazprom PJSC account for more than $20 billion of that total. read more

World’s Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.  

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks. The plan would entail the fund, which controls about 1.5 percent of global stocks, dumping as much as $40 billion of shares in international giants such as Exxon Mobil Corp. and Royal Dutch Shell Plc. The Finance Ministry said it will study the proposal and decide what to do in “fall of 2018” at the earliest. FULL ARTICLE read more

Woodside Falls Most in Year After Shell to Sell Stake

Shares falls as much as 3.5% in early Australia trading

Allan Gray Australia says it boosts stake in the LNG producer

Woodside Petroleum Ltd. fell the most in a year after Europe’s biggest oil company, Royal Dutch Shell Plc, said it would offloaded its entire holding in the Australian liquefied natural gas producer for $2.7 billion. Woodside shares fell as much as 3.5 percent in intraday trading on Tuesday to A$31.10 ($23.74), and changed hands at A$31.19 at 11:51 a.m. in Sydney. Shell said it would sell an 8.5 percent stake in Woodside at A$31.10 a share, a 3.5 percent discount to Woodside’s closing price on Monday. The Anglo-Dutch company then expanded that sale overnight to exit its remaining 4.8 percent holding. FULL ARTICLE read more

Shift to Hydrogen Could Meet 20% of World Energy Needs by 2050

Shell, Statoil and BMW among companies urging support for fuel

Transition requires investment of up to $25 billion a year

The most abundant element may supply almost a fifth of global energy by 2050 and eliminate enough emissions to cancel out all the pollution in the U.S., according to a group of industrial companies from Royal Dutch Shell Plc to Toyota Motor Corp. FULL ARTICLE

Why Energy Giants Will Continue to Dominate LNG Market

Trade in the $90 billion market for the superchilled gas is poised to double by 2040: Photographer: Tomohiro Ohsumi/Bloomberg

Total SA’s billion-dollar deal to buy liquefied natural gas assets from Engie SA shows how much size matters in the industry. 

After Royal Dutch Shell Plc’s takeover of BG Group Plc last year, industry consultant Wood Mackenzie Ltd. says the latest accord is evidence that the biggest energy companies with access to large volumes of diverse supplies will continue to dominate, even as commodity traders from Glencore Plc to Trafigura Group Pte are expanding.  read more

SHELL NEWS STORIES POSTED 10 NOVEMBER 2017

FIVE SHELL NEWS STORIES POSTED FRIDAY 10 NOVEMBER 2017

Shell confirmed to Reuters it had sought the change… Shell spokesman Frank van Hoorn said there was nothing secret or nefarious about Shell’s lobbying for the change…

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Oil majors BP and Shell are closing in on realising key objectives for production and fundraising, an analyst has said.

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Shell has no timeline for restarting normal operations on a platform which was shut down in the US Gulf of Mexico due to a fire, a news report said.

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Oil Tumbles as Surprise Stockpile Surge Outweighs Platform Woes

  • Shell shuts Enchilada platform in Gulf of Mexico Wednesday
  • U.S. drillers lift crude production to an all-time high: EIA

Crude went on a roller-coaster ride Wednesday as platform closures in the Gulf of Mexico led futures to spike, while the stubborn increase in U.S. supplies pulled prices back down. Oil closed 0.7 percent lower in New York after alternating between gains and losses in the session. Multiple platforms in the Gulf of Mexico suspended operations after Royal Dutch Shell Plc shut its Enchilada-Salsa platform due to a fire. While the shutdowns caused shortages, the prevailing mood was set by a government report showing crude stockpiles unexpectedly rose last week, overseas demand shrank and U.S. output hit a record-high. FULL ARTICLE read more

Shell to Seek Sale of Stake in $1.4 Billion Wind Farm

Royal Dutch Shell Plc and its partners Eneco Holdings NV and Mitsubishi Corp. are seeking to sell a stake in two Dutch offshore wind-farm projects that may cost $1.4 billion to develop, two people familiar with the plan said. The move would allow the companies to scale back financial exposure to the wind farms and redeploy the cash in new projects with the potential for higher returns. Shell has said only that it is trying to draw in additional investors, refusing to detail what that may entail. Its strategy is to focus on developing the early stages of gigantic wind farms and avoid holding the assets as long term operations, which offers a steady but slower payback. FULL ARTICLE read more

Iran Says OPEC Action on Output Cuts Must Address Libya, Nigeria

OPEC’s commitment to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh said. 

Compliance with the output cuts is “acceptable,” Zanganeh told reporters in Tehran. The Organization of Petroleum Exporting Countries should focus on “the situation with Libya and Nigeria,” he said, referring to the two countries exempted from capping production due to their internal strife. read more

Big Oil Becomes Greener With Cuts to Greenhouse Gas Pollution

The five biggest oil companies — Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., BP Plc and Total SA — collectively curbed their pollution by an average of 13 percent between 2010 and 2015, the report said. BP cut the most at 25.5 percent. Exxon, the largest emitter among listed companies, pushed it down by 14 percent. FULL ARTICLE

Shell Retail Looks to the Future With Car Charging, Clean Fuels

Rakteem Katakey, Javier Blas: BloombergSeptember 11, 2017

Royal Dutch Shell Plc wants 20 percent of income from its retail forecourts to come from vehicles that don’t burn diesel or gasoline, as the company anticipates an accelerating transition to clean energy over the coming decade. Shell set up its first hydrogen refueling station in the U.K. earlier this year and will install its first electric car charging point later this month, said John Abbott, the top executive of its downstream business, which includes refining, marketing, retail, trading and chemicals. By 2025, he expects these new operations supplying cleaner fuels, including natural gas, to make up a fifth of retail earnings. FULL ARTICLE read more

Shell Expects Australia Gas Shortage to Trigger Export Restriction

Shell has also formed a trading unit, Shell Energy Australia, that’s already active in the domestic gas market and plans to become involved in electricity to “make this market more competitive and connect supply and demand in the most efficient way possible,” Maarten Wetselaar, the company’s integrated gas and new energies director said at the same Wednesday event. FULL ARTICLE

Shell Invests to Boost Global Gas Demand

Europe’s biggest energy company is investing in projects to boost global gas demand and aims to continue feeding the market it’s nurturing with new liquefied natural gas export plants.

Royal Dutch Shell Plc is supporting the development of gas use in heavy transport such as shipping and is also helping smaller and less credit worthy customers begin importing LNG, Maarten Wetselaar, the company’s director of integrated gas and new energies, said at an event at Bloomberg’s Sydney office Wednesday. As new LNG customers enter the market, that will open a window for Shell and others to develop new low-cost export plants. “I want to create shorts that we can build projects against,” Wetselaar said. “As we develop the market, we’ll need new supply. We will build new LNG projects to serve that market, but as for where, I would be wrong to tell you.” FULL ARTICLE read more

Malcolm Brinded suffers fall out from OPL 245 scandal

By John Donovan

Former Royal Dutch Shell boss Malcolm Brinded has been replaced as a director of BBHP Billiton. His departure is a direct result of his key role in the OPL 245 corruption scandal and the consequential criminal prosecution underway in the Italian Courts. Brinded was involved in a string of scandals at Shell but thus far, has managed to escape retribution. 

A shake-up at the board of mining company BHP Billiton has been announced this morning. But it is the departures that are more interesting. The firm says that, “given his involvement in ongoing legal proceedings in Italy relating to his prior employment with Shell”, Malcolm Brinded has decided not to stand for re-election as a non-exec. FULL ARTICLE (RELATED: OPL 245: Shell email intercepts) read more

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