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Shell shifts focus to chemicals and refining

Anglo-Dutch energy giant Royal Dutch/Shell is shifting its focus toward downstream operations like refining and chemicals and away from traditional upstream activities like exploring for oil and gas, the Financieele Dagblad said on Wednesday.

This shift is likely to become even clearer when the company publishes its second quarter figures on Thursday, the paper said.

Shell’s investment in exploration slumped to $157m in the first quarter of 2017 from an annual quarterly average of between $500m to $600m in recent years, the paper points out.  This is partly due to the group’s recent acquisition of the BG Group which has large deep-sea reserves off the coast of Brazil. read more

Shell News Update 29 May 2017

Leave oil rigs in the North Sea, say conservationists: The Guardian: Monday 29 May 2017

Conservationists want oil companies and regulators to consider leaving more old rigs in the North Sea rather than removing them, with the savings paid into a fund to protect sealife.

Gazprom and Shell discuss joint prospects under Agreement of Strategic Cooperation: EIN News: 29 May 2017

In 2015, Gazprom and Shell signed the Memorandum to construct the third production train of the LNG plant, as well as the Agreement of Strategic Cooperation providing for the expansion of the companies’ joint project portfolio, including a potential asset swap.

Shell, partners start deepwater production at new FPSO in Brazil: 29 May 2017

KUALA LUMPUR (May 29): Petroliam Nasional Bhd (Petronas) has given the greenlight to Royal Dutch Shell PLC for the sale of the latter’s 50% stake in the 2011 North Sabah enhanced oil recovery production sharing contract (PSC) to Hibiscus Petroleum Bhd’s indirect unit SEA Hibiscus Sdn Bhd. 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

Shell is ‘ripe to deliver’ and 2017 is an inflection year – broker

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Jamie Ashcroft: 01 Dec 2016

Royal Dutch Shell Plc’s (LON:RDSB) portfolio is ‘ripe to deliver’, according to JP Morgan, which rates the stock as ‘overweight’ and sees 2017 as an inflection year for the oil supermajor.

JP Morgan analyst Christyan Malek says investors should buy ahead of further capex cuts and free cash flow uplift.

In a note Malek said: “the recent Brazil field trip left us incrementally positive on scope to cut capex further in 2017-18 as economies of scale on cost improve and internal efficiencies take effect. read more

Shell studying acquisitions in the green energy sector

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screen-shot-2016-11-09-at-19-58-01Written by Reporter – 30/11/2016 2:02 pm

Shell said it is studying acquisitions in the green energy sector.

It comes amid shareholder pressure to look at a strategy beyond fossil fuels.

The oil major currently has a market value of $200billion and produces 2% of the world’s oil and gas.

Chief executive Ben Van Beurden said: “The idea you can just be a very clever observer and step in when the moment is right, forget about it.

“I am convinced that in this space we will play an active role, a leafing role and we will plan acquisitions in it.” read more

Shell to invest $10 billion as Brazil expands private role in oil industry

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screen-shot-2016-11-09-at-19-58-01Royal Dutch Shell Plc (RDSa.L) will invest $10 billion (8 billion pounds) in Brazil over five years now that the country has increased opportunities for foreign companies in its oil industry, its chief executive officer said on Thursday.

Already the largest foreign investor in Brazil, Shell is particularly encouraged by recent legislation that increases the role of private oil companies in the tapping of vast off-shore oil deposits in the subsalt layer, Chief Executive Officer Ben van Beurden said. read more

Shell Plans to Invest $10 Billion in Brazil Over Next Five Years

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By PAUL KIERNAN: Nov. 10, 2016 1:51 p.m. ET

Shell plans to invest $10 billion in the South American nation over the next five years, Wael Sawan, the company’s executive vice president for deep water, said in an interview this week. That would come on top of the more than $30 billion in capital the company says it has deployed in Brazil, where it operates 5,500 energy stations and acquired a large number of oil-and-gas assets earlier this year via its takeover of BG Group PLC.

FULL ARTICLE read more

Big Oil Slowly Adapts to a Warming World

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By CLIFFORD KRAUSSNOV. 3, 2016

In a warming world, Big Oil doesn’t look quite so big anymore.

A global glut of oil and natural gas has sent prices tumbling over the last two years, and profits are evaporating. Improving auto fuel efficiency standards threaten to depress oil consumption eventually, and fleets of electric vehicles are gradually emerging in China and a few other important markets.

Perhaps most troubling for oil companies over the long term is the goal — agreed to last December by virtually every country in the world at a climate conference in Paris — of staving off a rise in average global temperatures of more than 2 degrees Celsius above preindustrial levels. read more

BRIEF-Brazil’s Cosan, Shell negotiate new Raizen ownership deal – paper

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screen-shot-2016-10-20-at-23-00-27Brazil’s Cosan SA and Royal-Dutch Shell are in advanced talks to define the ownership of their joint venture Raizen formed in 2011, according to a story published in the Valor Economico newspaper on Friday

* A new accord between the two stakeholders of the 50-50 joint venture Raizen has not be formalized

* Cosan did not comment on the report and Shell is in its quiet period ahead of earnings, the paper said

* The current accord between the parners gives both sides the right to buyout the other after the 10th and 15th year from the formation of Raizen read more

Shell Pledges More Investments In Brazil

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Royal Dutch Shell CEO tells President Temer the country is expected to be one of the top investment focuses for the multinational in the coming years. 

Beurden stated that Shell’s partnership with Petrobras in the pre-salt projects remain a priority for the multinational, despite the negative news in the international media about the corruption scandal in the Brazilian company.

By Lise Alves on September 28, 2016

SÃO PAULO, BRAZIL – Reiterating that there is a favorable investment climate in Brazil, the president of petroleum giant Royal Dutch Shell, Ben Van Beurden, told Brazil’s President Michel Temer of the company’s interest in maintaining and increasing investments in the country.

“We have plans for a future together. We came here to talk about the confidence we have in the country and some points that can be improved,” Beurden told journalists after attending meetings with President Temer and Petrobras CEO, Pedro Parente on Tuesday. read more

Shell Divests Gulf Of Mexico Assets For $425 Million Plus Royalty Interests

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Screen Shot 2016-08-29 at 22.18.50AUG 29, 2016, 15:27 ET

HOUSTON, Aug. 29, 2016 /PRNewswire/ — Royal Dutch Shell plc, through its affiliate Shell Offshore Inc. (Shell), today announces it has an agreement to sell 100 percent of its record title interest in Gulf of Mexico Green Canyon Blocks 114, 158, 202 and 248, referred to as the Brutus/Glider assets, to EnVen Energy Corporation, through its affiliate EnVen Energy Ventures, LLC.  In line with Shell’s global divestment plans, this transaction includes $425 million in cash.  read more

Doesn’t this all seem rather improper?

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GRAY, LOUISIANA (PRWEB) JULY 20, 2016

Danos announces the hiring of Tom Broom as executive account manager. In this role, Broom will be responsible for overseeing and maintaining Danos’ long-term relationship with Shell.

“Tom is a perfect fit for Danos, said Executive Vice President Paul Danos. “His experience in the industry and long career with Shell make him the ideal person to oversee this relationship that has endured for 45 years.”

In 2015, Broom retired from Shell after a 35-year-career, most recently serving as director of coastal issues for Shell Exploration & Production Company. In that role he served as the inaugural director of a 25-person international team focused on collaborating with internal and external stakeholders on coastal management issues. Prior to that position he oversaw workforce development and construction risk mitigation and managed operations training for the United States, Canada and Brazil. He also supervised the daily operations of Shell’s Robert Training and Conference Center, the company’s primary operations training facility. read more

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