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Obama Said to Use 1953 Law to Permanently Block New Drilling Leases in Arctic, Atlantic

The Shell-contracted rigs Kulluk (left) and Noble Discoverer (right) set sail from Seattle in July 2012 for Royal Dutch Shell’s ultimately unsuccessful drilling campaign offshore Alaska in Summer 2012. Photo credit: Vigor Industrial

December 19, 2016 by Bloomberg

By Jennifer A. Dlouhy

(Bloomberg) — President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to two people familiar with the decision.

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Shell’s CFO Pick Leaves Most Analysts Asking Simply ‘Who?’

by Rakteem Katakey: 15 December 2016, 16:47 GMT

Royal Dutch Shell Plc’s appointment of Jessica Uhl as finance chief on Thursday posed one simple question for many of the analysts who follow Europe’s largest oil company: “Who?”

The 48-year-old U.S. citizen, currently head of finance for Shell’s Integrated Gas unit — a key cash cow since this year’s acquisition of BG Group Plc — will take over from Simon Henry in March. Having been at the oil major for 12 years, exclusively in finance, she has “in-depth knowledge” to execute its cash-generation plans, according to Shell.

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Shell and Total Said to Sign Initial Oil Deals With Iran

by Hashem Kalantari , Sam Wilkin , and Golnar Motevalli

December 7, 2016 — 2:12 AM EST: Updated December 7, 2016 — 9:39 AM EST

Royal Dutch Shell Plc signed an agreement to assess three of Iran’s largest oil and gas fields as OPEC’s third-biggest producer looks to boost output with the help of international companies.

Shell signed a memorandum of understanding to evaluate the Azadegan and Yadavaran oil fields near the Iraqi border, and the Kish gas deposit in the Persian Gulf, Gholam-Reza Manouchehri, deputy director of the National Iranian Oil Co., said at a signing ceremony in Tehran on Wednesday.

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Shell to Start Feeling Norway Heat on Ormen Lange Gas Project

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By Mikael Holter: November 30, 2016 

Norway expects Royal Dutch Shell Plc to go forward with a shelved project to boost recovery of natural gas at the Ormen Lange field and warned it will start pushing the company for progress from next year.

“A clear message to Shell is that we expect that it seizes the opportunities that exist at Ormen Lange and comes to a decision to take this forward,” Bente Nyland, the head of the Norwegian Petroleum Directorate, said in an interview in Oslo on Wednesday. “There are a lot of resources at Ormen and we have to get them out.”

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Kazakh President Says Partners in Shell Oil Field Face Tax Claim

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Nariman Gizitdinov and Torrey Clark: November 24, 2016 — 6:42 AM EST

Kazakhstan’s authorities are looking at whether the Karachaganak oil and gas venture, which includes Royal Dutch Shell Plc and Eni SpA, has unpaid taxes.

“The tax authorities have tax issues — they didn’t pay,” President Nursultan Nazarbayev said in an interview on Tuesday in Astana, without elaborating. He also confirmed the government is now seeking to change how revenue from the field is shared with the companies, which is allowed by the terms of the contract.

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Shell’s debts rise as it misses asset-sales target

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PUBLISHED NOV 19, 2016, 5:00 AM SGT

LONDON • Royal Dutch Shell is more than US$4 billion (S$5.71 billion) short of its asset-sales target for the year, prompting credit ratings agencies to warn that its record debt will not start shrinking soon enough.

Shell piled up borrowings following its biggest acquisition, the purchase of BG Group, and needs to hit disposal targets to help pay for it and stave off rating reviews, according to the agencies. The company sold US$1.7 billion of assets in the first nine months of this year, according to a Nov 1 statement, well short of its US$6 billion to US$8 billion guidance.

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Nigeria Reaches $5.1 Billion Debt Settlement With Oil Majors

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By Elisha Bala-Gbogbo and Rakteem Katakey: November 17, 2016

Nigeria reached a $5.1 billion settlement to reimburse foreign oil companies including Exxon Mobil Corp. and Royal Dutch Shell Plc for past operating costs.

The amount, less than the $6.8 billion previously discussed, will be settled through crude-oil sales over five years and will be interest free, Petroleum Minister Emmanuel Kachikwu told reporters in the capital, Abuja, Thursday.

“What we have been able to put together has enabled us to shave about $1.7 billion in savings for the federal government from the $6.8 billion that was owed,” he said. “The barrels to pay those will come from incremental barrels generated by the oil companies, not from the current 2.2 million-barrel-a-day production.

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Big Oil Looks Past Profit Crunch as Cash Flow Shows Recovery

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By Javier Blas: November 9, 2016

Ask any oil-company accountant, “what’s the difference between income and cash flow?” and they’re likely to say income makes the headlines, cash pays the bills.

It may be glib, but there’s a nub of truth there. Cash generation is the yardstick used to judge a company’s ability to invest and pay dividends, and it’s been growing at the biggest oil producers for three quarters in a row.

Last quarter the world’s largest listed energy companies — Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Total SA and BP Plc — reported cash from operations of almost $26 billion, up 67 percent from the previous three months and more than double the first-quarter amount, according to data compiled by Bloomberg.

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Shell, Total CEOs Question Solar in Room Full of Solar Investors

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By Anna Hirtenstein: 3 November 2016

When executives from some of the world’s biggest oil companies question the ability of solar energy to make money in a roomful of renewables investors, awkwardness ensues.

That’s what happened Thursday at the Energy for Tomorrow conference in Paris, where the chief executive officers of Royal Dutch Shell Plc and Total SA said solar power isn’t profitable.

“Growth of renewables has been remarkable but capacity of industry to make money in that segment has been remarkably absent,’’ Shell CEO Ben van Beurden said during a panel discussion. “The 10 largest solar companies collectively never paid a cent of dividends.’’

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Shell thinks demand for oil could peak in five years

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Written by Bloomberg – 02/11/2016 4:16 pm

Royal Dutch Shell Plc, the world’s second-biggest oil company by market value, thinks demand for oil could peak in as little as five years.

“We’ve long been of the opinion that demand will peak before supply,” Chief Financial Officer Simon Henry said on a conference call on Tuesday. “And that peak may be somewhere between 5 and 15 years hence, and it will be driven by efficiency and substitution, more than offsetting the new demand for transport.”

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Shell’s Record BG Deal Starts to Pay Off as Production Surges

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screen-shot-2016-11-01-at-16-01-19By Rakteem Katakey: November 1, 2016

Royal Dutch Shell Plc’s biggest takeover, the subject of intense investor scrutiny during crude’s collapse, is starting to pay off as Europe’s largest oil company chalks up its highest profit in five quarters.

The cash now generated by BG Group Plc — acquired by Shell for $54 billion in February — outstrips its spending, while production has risen by about a third in two years, Shell Chief Financial Officer Simon Henry said Tuesday. The integration of its assets has been completed “well ahead of time,” he said.

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Shell’s $78 Billion Escape Act

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screen-shot-2016-10-06-at-13-11-55By Chris HughesNov 1, 2016 8:38 AM EDT

Eight months on from the $64 billion acquisition of BG Group and Royal Dutch Shell PLC’s finances seem to be under greater strain than ever. The Anglo-Dutch oil major’s net borrowings stand at $78 billion and indebtedness is a smidgen below management’s self-imposed ceiling. Even as the benefits of buying BG are starting to show, the takeover has trapped Shell in austerity measures for the foreseeable future. The good news is that progress is likely to be visible, and that provides a useful story for the shares.

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