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Shell shielded from Forties fallout by ‘internationalisation’, North Sea sales

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Shell is performing “extremely well” at a time when Brent crude is at its highest price for three years, the oil giant’s upcoming fourth quarter results will show. The Anglo-Dutch major is in its strongest position for many years in terms of its cash generation thanks to its upstream and LNG businesses, analysts said. RBC Capital Markets anticipates Shell’s fourth-quarter adjusted net income will more than double year-on-year. The company recorded adjusted earnings of £1.3billion in Q4 2016. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell buying spree cranks up race for clean energy

People take pictures of a high-efficiency petrol-burning concept car as it is unveiled by Royal Dutch Shell during a ceremony in Beijing, China April 22, 2016. REUTERS/Damir Sagolj

Ron Bousso, Clara Denina: JANUARY 26, 2018

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) has spent over $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its carbon footprint. The scale of the buying spree pales in comparison to the Anglo-Dutch company’s $25 billion annual spending budget. But its first forays into the solar and retail power sectors for many years shows a growing urgency to develop cleaner energy businesses. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell Is Closing In on Exxon’s Crown

Even in the dynamic world of business, some things always hold true: the Big Mac outsells the Whopper, Google gets more searches than Bing, and Exxon Mobil Corp. is the world’s biggest public oil company. Or perhaps not.

Royal Dutch Shell Plc is the closest it’s ever been to attaining the long-coveted prize of overtaking its American rival. While the Anglo-Dutch oil major still has some work left to snatch Exxon’s crown, Chief Executive Officer Ben van Beurden has made getting to the top his restless mission. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Big Oil flush with cash again, but no party yet

Ron Bousso: 24 JAN 2018

LONDON (Reuters) – The world’s top oil companies are expected to generate more cash in 2018 than at any other time this decade after three painful years of cuts, but it isn’t party time yet.

The shift in sentiment has been rapid as crude prices have risen by more than 50 percent over the past six months to reach $70 a barrel, a level not seen since the crash year of 2014, thanks to global supply cuts led by OPEC.

Only a year ago, many investors still fretted over the sustainability of the sector’s lavish dividend payouts in a weak energy market. Now the focus on company boards is gradually switching from slashing jobs and investment to boosting shareholders’ returns and growth. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell’s Trading Arm Bags Stake In London-Based Blockchain Start-Up

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Oil giant Royal Dutch Shell’s trading arm Shell Trading International made a significant move into blockchain development on Thursday (18 January) by bagging a minority stake in London, U.K.-based start-up Applied Blockchain. In the simplest of terms, a blockchain is akin to a digitally distributed ledger that can be replicated and spread across many nodes in a peer-to-peer network, thereby minimising the need for oversight and governance of a single ledger. It is being actively pursued by several energy traders among others. Along with Shell Trading International, Caliberate Partners would also be taking a minority stake in the start-up founded in 2015 in London’s Level39 Fintech Accelerator. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell and BP to Buy Libyan Oil as Country Recovers

Royal Dutch Shell Plc and BP Plc agreed annual deals to buy Libyan crude, underscoring how the North African country’s recovering production and improving security are enticing some of the world’s largest oil companies. Shell’s deal with Libya’s National Oil Corp. was the first of its kind since 2013 and Europe’s biggest oil company will load its first cargo under the contract within days, according to people familiar with the matter, who asked not to be identified because they’re not authorized to talk to the media. BP, which didn’t have a term deal in 2017, also reached an agreement for this year, the people said. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Royal Dutch Shell one of the companies with biggest pensions deficit

After Carillion how many firms can the pensions lifeboat rescue? 

The Pension Protection Fund can absorb the firm’s liabilities but the spotlight is now on others with big pension deficits

The companies with the biggest deficits, according to a report last year from pension consultants LCP, are Royal Dutch Shell, BP, BT and BAE Systems. The four FTSE 100 companies each had a deficit of more than £6bn in 2016. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

New York City sues Shell, ExxonMobil, and other oil majors over climate change

Each of the first six months of 2016 set a record as the warmest respective month globally. Credit: NASA/GISS

 January 10 2018

The New York City government is suing the world’s five largest publicly traded oil companies, seeking to hold them responsible for present and future damages to the city from climate change. The suit, filed Tuesday against BP, Chevron, Conoco-Phillips, ExxonMobil and Royal Dutch Shell, claims the companies together produced 11 percent of all of global warming gases through the oil and gas products they have sold over the years. It also charges that the companies and the industry of which they are part have known for some time about the consequences but sought to obscure them. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Big Oil Finds Hurdles Buried in Trump’s ‘America-First’ Tax Plan

For Big Oil, the U.S. tax overhaul is turning out to be a mixed bag, especially for companies that drill overseas. Two weeks after President Donald Trump and congressional Republicans passed a sweeping rewrite of the tax code that cuts corporate rates, drillers are finding other changes that are less of a boon. BP Plc and Royal Dutch Shell Plc offered a preview recently, saying they may write off as much as $4 billion in tax assets as a result.

Caps on debt-interest payments and cuts to deductions from previous years’ losses may hurt companies building capital-intensive projects with borrowed money. And other provisions, including time limits on expensing exploration, could hem in drillers with long-term projects, including Exxon Mobil Corp. and Chevron Corp. That may also give an edge to domestic shale production. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

U.S. offers drillers nearly all offshore waters, but focus is on eastern Gulf

Ernest Sheyder and Valerie Volcovici

HOUSTON/WASHINGTON (Reuters) – President Donald Trump’s administration has proposed opening up nearly all of America’s offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico. “The eastern Gulf of Mexico could be very attractive to industry because of the proximity to existing infrastructure in the central and western Gulf of Mexico,” the National Ocean Industries Association, which represents the offshore oil and gas industry, said in a statement. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell hit with HSE improvement notice at St Fergus

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Energy giant Shell has been ordered to improve its safety procedures at the St Fergus plant near Peterhead.

The UK Health and Safety Executive (HSE) said the company had failed to made “adequate arrangements” to ensure that “emergency shutdown and emergency depressurisation valve actuators” were maintained in an “efficient state and effective working order”.

HSE initially gave Shell until December 21 to comply with the improvement notice, but the deadline has now been extended to February 28.

A spokeswoman for Shell said: “We can confirm that we have been issued with an improvement notice on 23rd November 2017 in relation to the maintenance of emergency shutdown valves at our St Fergus plant in North East Scotland. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

BP takes $1.5 billion charge over U.S tax changes, joining Shell

RON BOUSSO: JANUARY 2, 2018 / 7:34 AM LONDON (Reuters) – BP (BP.L) will take a one-off $1.5 billion charge in its 2017 fourth quarter earnings as a result of new U.S. corporate income tax rules, joining rival Royal Dutch Shell. Shell (RDSa.L) said last week it would incur a one-off charge of $2-$2.5 billion, although the new legislation would have a “favorable” impact on earnings. FULL ARTICLE
royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Ineos sees Forties oil flows back to normal around new year

Reporting by Dmitry Zhdannikov and Julia Payne; Editing by Elaine Hardcastle and Mark Potter: December 28, 2017

LONDON (Reuters) – Britain’s biggest and most important oil and gas pipeline Forties should resume normal flows around the new year, slightly earlier than previously flagged, its operator Ineos said on Thursday. Ineos had previously expected the pipeline, which suffered a rare unplanned shutdown because of a crack, to resume normal operations in early January. On Wednesday, Royal Dutch Shell said it had restarted fields that link up the Forties pipeline. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Production Halted At 2 North Sea Platforms After Main Pipeline Shutdown

Fun Trading: 18 Dec 2017

Summary

  • Shell announced that production from the Shearwater and Nelson platforms in the central North Sea had been suspended due to Forties pipeline shutdown.
  • Forties pipeline is a vital artery of the North Sea production. Production loss is estimated at about 400K Boep/d which is significant and may boost oil prices for weeks.
  • This situation could be considered as a net positive for Shell and other oil majors.

FULL ARTICLE

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Oil stable on tighter market, but rising US output looms for 2018

BY HENNING GLOYSTEIN: DECEMBER 15, 2017

* OPEC-led supply cuts, Forties pipeline outage support crude

* But rising U.S. output, driven by shale, weighs on market

SINGAPORE, Dec 15 (Reuters) – Oil markets were stable on Friday as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further. U.S. West Texas Intermediate (WTI) crude futures were at $57.13 a barrel at 0119 GMT, up 9 cents from their last settlement. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Norway parties inclined to back fund’s plan to slash oil exposure -report

REUTERS STAFF: DECEMBER 12, 2017

OSLO, Dec 12 (Reuters) – Norway’s $1 trillion sovereign wealth fund, the world’s largest, will probably win backing from parliament for its proposal to cut most oil and gas stocks from its portfolio, business daily Dagens Naeringsliv reported on Tuesday. If adopted by parliament, the fund would over time divest billions of dollars from oil and gas stocks, which now represent 6 percent – or around $37 billion – of its benchmark equity index. The fund is among the top investors in a wide range of oil companies. At the end of 2016 it held 2.3 percent of Royal Dutch Shell, 1.7 percent of BP, 0.9 percent of Chevron and 0.8 percent of Exxon Mobil. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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