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Putin, Ukraine and Royal Dutch Shell

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Sir Henri was fanatically anti-Soviet as a result of the confiscation of Shell oil fields in Russia. Might be best if Ben does not mention this past history to his new chum, Vlad the Bad, who is rather keen to restore the Soviet empire. “Had Putin asked ‘and now you kiss my ass’, I am sure van Beurden would have complied.”

18 April 2014

By John Donovan

There are a number of news reports about a meeting earlier today between President Putin and Royal Dutch Shell CEO Ben van Beurden, in which the sensitive subject of Ukraine was discussed.

Interesting to note that the same subject was also discussed at a high level by Shell in the 1930’s, on that occasion with Hitler, who like Putin, also had territorial ambitions. 

Printed below are extracts from a book, “Hitler As Frankenstein” by Johannes Steel (born Herbert Stahl,1908-1988), the son of a German-Dutch landowner. When the Nazis took power in Germany he fled to the USA working as a journalist for the New York Post. Because of his prescience, which included predicting World War 2, he became widely followed as a popular radio commentator in the U.S. during the war. (Information taken from Wikipedia) read more

Phillips 66, Shell Purchase Majority of U.S. Reserve Oil Sale

Screen Shot 2014-02-10 at 16.29.29Extracts from an article by Dan Murtaugh published 17 March 2014 by BloombergBusinessweek

Phillips 66 and Royal Dutch Shell Plc walked away with about 3.3 million barrels of the 5 million that the Energy Department sold in what will be the first release from the U.S. Strategic Petroleum Reserve since 2012. Phillips 66 purchased 2.04 million barrels at an average price of $100.23 a barrel. Shell bought 1.22 million for $97.53.

FULL ARTICLE

Seplat Sees No Oil Theft in Nigeria, Where Shell Lost $1 Billion

Extracts from a Bloomberg article by

Screen Shot 2014-02-10 at 16.29.29Seplat Petroleum Development Co., the Nigerian oil producer raising $500 million from investors, said it had “absolutely no” theft in Nigeria, where Royal Dutch Shell Plc lost almost $1 billion due to sabotage in 2013. Seplat in July 2010 bought three licenses from Shell onshore Niger Delta, which had been idled for about 18 months, and is bidding for stakes in two more, said Chairman A.B.C. Orjiako. The company developed the “Seplat model” of engagement with communities by hiring locals to provide services and oilfield security, he said. “We haven’t employed the thieves and criminals, but we made things difficult for them to operate in the area,” Orjiako said in a phone interview March 11. “Today we are very happy to see that Seplat has absolutely no incidents or disruptions due to community unrest.” read more

Glencore-Macquarie Said to Exit Race for Shell Australia Assets

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February 12, 2014

Screen Shot 2013-12-22 at 19.09.52Macquarie Group Ltd. (MQG) and Glencore Xstrata Plc (GLEN) dropped out of bidding for Royal Dutch Shell Plc (RDSA)’s Australian oil refinery and filling stations, according to four people with knowledge of the matter. The assets Shell is selling include storage terminals, filling stations and an oil refinery in Geelong, south of Melbourne. Shell is stepping up asset sales after new Chief Executive Officer Ben van Beurden promised last month to cut capital spending following the company’s first profit warning in a decade. read more

BP Fourth-Quarter Profit Drops

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February 04, 2014

Screen Shot 2014-01-30 at 00.47.49BP follows Royal Dutch Shell Plc (RDSA) and Exxon Mobil Corp., the two biggest oil companies by market value, in reporting lower earnings as the cost of drilling rises, refining profits slump and oil prices stagnate.

Shell and BG Group Plc (BG/) both issued profit warnings for the fourth quarter. BG today reported the first loss since 2000 on output disruptions from Egypt and higher exploration costs. Shell said last week it will accelerate asset sales to offset investment after capital spending reached a record in 2013. read more

Shell Said to Seek Buyers for $1 Billion Stake in Ho-Ho Pipeline

Screen Shot 2013-11-13 at 07.38.22Royal Dutch Shell Plc (RDSA) is seeking to sell a stake in its Houston-to-Houma crude oil pipeline, which Europe’s largest oil company recently reversed and renamed, people familiar with the matter said. Shell is working with Barclays Plc (BARC) to solicit offers for a stake of as much as $1 billion…  Shell on Jan. 17 warned fourth-quarter earnings fell to the lowest level since 2009 due to rising losses in the Americas and deteriorating refining markets.

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By Matthew Monks January 27, 2014

Royal Dutch Shell Plc (RDSA) is seeking to sell a stake in its Houston-to-Houma crude oil pipeline, which Europe’s largest oil company recently reversed and renamed, people familiar with the matter said.

Shell is working with Barclays Plc (BARC) to solicit offers for a stake of as much as $1 billion in the conduit, which is known as the Ho-Ho system and valued at about $3 billion in its entirety, said one of the people, asking not to identified because the matter is not public. read more

Alaska Coastal Oil Drilling Challenge Revived by U.S. Court

Screen Shot 2013-11-01 at 09.31.18Alaskan coastal drilling by oil companies including ConocoPhillips (COP:US) and Royal Dutch Shell Plc (RDSA) may be further delayed after a U.S. court revived conservation group claims that the government acted illegally in opening almost 30 million acres on the continental shelf to energy exploration.

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By Karen Gullo January 22, 2014

Alaskan coastal drilling by oil companies including ConocoPhillips (COP:US) and Royal Dutch Shell Plc (RDSA) may be further delayed after a U.S. court revived conservation group claims that the government acted illegally in opening almost 30 million acres on the continental shelf to energy exploration.

Sierra Club and other organizations sued the government after the $2.6 billion sale of development leases for the Chukchi Sea off the northwest coast of Alaska in 2008, saying the amount of oil from the leases was far higher than the 1 billion barrels the U.S. Interior Department had estimated in an an environmental review. read more

Shell Profit Slumps

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Friday January 17, 2014

Royal Dutch Shell Plc (RDSA) said profit plunged because of deteriorating refining markets and mounting losses in the Americas, surprising investors with an early earnings report that wiped out $10 billion in shareholder value.

“It’s a shock,” Jason Kenney, an analyst at Banco Santander SA in Edinburgh, said today by telephone. Shell had “to pre-announce to get the market to reality, but even so it’s a very weak set of results.” read more

Highlights of Marcellus Shale news in 2013

The biggest question mark for 2014 is whether Shell Oil Co. will continue to explore the possibility of building a huge natural gas processing plant in western Pennsylvania. In March 2012, Shell chose a possible site about 35 miles north of Pittsburgh for the so-called ethane cracking, or cracker, plant. Shell’s option to buy the site expires at the end of the year, but it could easily be renewed. Shell spokesperson Kimberly Windon said last week there’s no update on the plant.

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PITTSBURGH (AP) — The natural gas industry and environmentalists in Pennsylvania both had reasons to cheer and jeer in 2013 over the boom in Marcellus Shale natural gas drilling.

Environmentalists were heartened by a state Supreme Court ruling at the end of the year that rejected significant portions of industry-friendly legislation. The state’s highest court ruled that Gov. Tom Corbett’s administration had gone too far in passing a law that gives the industry the right to operate almost anywhere it wants to, even if local municipalities object. read more

Oil Probe Document Disclosure Won’t Be Delayed

Screen Shot 2013-05-17 at 01.06.41Crude oil traders including Morgan Stanley and Royal Dutch Shell Plc lost a bid to temporarily block disclosure of millions of trading records and other documents from a six-year U.S. probe while an appeals court hears the case. The files include e-mails, depositions, trading records and audio files.

Screen Shot 2012-11-19 at 09.32.24 By Bob Van Voris: December 10, 2013 Crude oil traders including Morgan Stanley (MS:US) and Royal Dutch Shell Plc (RDSA) lost a bid to temporarily block disclosure of millions of trading records and other documents from a six-year U.S. probe while an appeals court hears the case.The federal appeals court in New York today denied the request, lifting a temporary stay on the disclosure entered Nov. 20. The court today also denied the oil traders’ request that it hear their appeal on an expedited basis.U.S. District Judge William H. Pauley on Oct. 25 ordered the documents, originally gathered by the Commodity Futures Trading Commission as part of a probe begun in December 2007, to be given to a group of private plaintiffs claiming price-fixing in the crude-oil market. Pauley restricted access to the most sensitive material.The files include e-mails, depositions, trading records and audio files.The CFTC on May 24, 2011, accused Parnon Energy Inc., which is controlled by billionaire John Fredriksen, of manipulating the prices of West Texas Intermediate crude. Two days later, a private plaintiff sued Parnon, seeking to represent a class of everyone who traded in WTI derivative contracts from Dec. 1, 2007, until at least May 31, 2008.

Pauley hasn’t yet ruled whether he’ll let the case proceed as a class action.

The case is In Re Crude Oil Commodity Futures Litigation, 11-cv-03600. The CFTC case is U.S. Commodity Futures Trading Commission v. Parnon Energy Inc., 11-cv-3543, U.S. District Court, Southern District of New York (Manhattan). The appeal is U.S. Commodity Futures Trading Commission v. Parnon Energy Inc., 13-04206, Second U.S. Circuit Court of Appeals (Manhattan).

To contact the reporter on this story: Bob Van Voris in federal court in Manhattan at [email protected] read more

Raizen Energia Ethanol Sales Hurt by U.S. Cuts: Corporate Brazil

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December 04, 2013

Raizen Energia SA, Brazil’s biggest ethanol exporter, is the sugar-cane processor most at risk from a U.S. plan to cut biofuel mandates, threatening the South American country’s $6.4 billion export market.

The joint venture between oil producer Royal Dutch Shell Plc (RDSA) and Cosan SA Industria & Comercio produced 2.32 billion liters (612.1 million gallons) of ethanol in the 12 months through March. More than half was exported and most of that was shipped to the U.S., according to Salim Morsy, a New York-based analyst with Bloomberg New Energy Finance. read more

Canada’s Tar Sands Oil Boom Yields Toxic Wastewater Lakes

Companies including Syncrude Canada, Royal Dutch Shell and ExxonMobil affiliate Imperial Oil are running out of room to store the contaminated water that is a byproduct of the process used to turn bitumen—a highly viscous form of petroleum—into diesel and other fuels. By 2022 they will be producing so much of the stuff that a month’s output of wastewater could turn New York’s Central Park into a toxic reservoir 11 feet deep…

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 By  

Canada is blessed with 3 million lakes, more than any country on earth—and it may soon start manufacturing new ones. The oil sands industry is in the throes of a major expansion, powered by C$20 billion ($19 billion) a year in investments. Companies including Syncrude Canada, Royal Dutch Shell (RDS/A), and ExxonMobil (XOM) affiliate Imperial Oil are running out of room to store the contaminated water that is a byproduct of the process used to turn bitumen—a highly viscous form of petroleum—into diesel and other fuels. By 2022 they will be producing so much of the stuff that a month’s output of wastewater could turn New York’s Central Park into a toxic reservoir 11 feet deep, according to the Pembina Institute, a nonprofit in Calgary that promotes sustainable energy. read more

Shell’s LNG-Producing Monster Ship, Prelude

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On Geoje Island, off the coast of South Korea, as many as 5,000 workers have been building the largest vessel ever constructed. With a deck the size of seven football fields and containing three times as much steel as the Golden Gate Bridge, the Prelude will spend years anchored above a natural gas field off Australia, pumping fuel from under the seabed and turning it into a liquid that can be shipped to Asian customers.

Led by Royal Dutch Shell (RDS/A), the project could transform the global gas industry. Until now, liquefied natural gas projects, which chill the fuel until it turns into a liquid that can be transported on tankers, have relied on giant onshore plants. Putting an LNG facility on top of a ship will open up dozens of fields once considered too remote or too small to be viable. “It’s a very crucial technology,” says Shell Chief Executive Officer Peter Voser, who rates approving the project as the single most important decision he’s made while running the Anglo-Dutch company. “This will be a solution that works for many, many fields.” read more

Platts System Could Be ‘Prone’ to Collusion, EU Official Says

Screen Shot 2013-05-17 at 01.06.41Platts’s oil-price reporting system “could be prone to collusion or distortion,” according to the European Union official in charge of the benchmark probe that led to raids on the premises of BP Plc, Royal Dutch Shell Plc and Statoil ASA. The EU probe is still examining two areas of concern — abuse of dominance and unlawful collusion, Gauer said.

Shell Said to Seek $6 Billion Credit Line Amid Lower Loan Costs

Jonathan French, a London-based spokesman for Shell, confirmed the company’s existing credit line expires in 2015. He declined to comment on the new debt facility.

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November 14, 2013

Royal Dutch Shell Plc (RDSA) is seeking a $6 billion credit line to replace an existing loan as banks cut borrowing costs for Europe’s largest companies to the lowest in more than five years.

Europe’s largest oil and gas producer is offering to pay an interest margin of 12.5 basis points, or 0.125 percentage point, more than the benchmark rates on the five-year loan, according to three people with knowledge of the matter, who asked not to be identified because the terms are private. Barclays Plc is helping to arrange the financing for the company based in The Hague. read more

Voser Says Shell to Quicken Disposals to Offset Spending: Energy

Screen Shot 2013-11-13 at 07.38.22Royal Dutch Shell Plc is gearing up to sell about $15 billion of assets as Europe’s largest oil company accelerates disposals to offset the cost of projects from Australia to Canada. While Voser didn’t put a figure on disposals, Shell needs to raise at least $15 billion over the next two years to meet its financial targets, according to data compiled by Bloomberg.

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November 12, 2013

Royal Dutch Shell Plc (RDSA) is gearing up to sell about $15 billion of assets as Europe’s largest oil company accelerates disposals to offset the cost of projects from Australia to Canada.

Asset sales will allow Shell’s net capital investment, spending on projects adjusted for acquisitions and disposals, to fall from this year’s record $45 billion, Chief Executive Officer Peter Voser said in an interview. A raft of new projects coming on stream gives room to sell oil and natural gas fields, he said. read more

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