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Posts under ‘Chevron’

As Big Oil shrinks, boards plot different paths out of crisis

* Companies seek to safeguard growth for when market recovers * U.S. firms abandon deepwater projects for shale oil fields * Britain’s BP bets on Egyptian gas, Shell on major acquisition By Ron Bousso and Terry Wade LONDON/HOUSTON, Feb 7 As oil and gas companies cut ever-deeper into the bone to weather their worst downturn […]

Corporate earthquakes

By Ed Crooks: February 5, 2016 Earnings reports from the largest listed oil companies have this week given a series of seismograph readings on the upheaval in the crude market. The implications for investors, employees and suppliers are grim. Worse, those earnings were all recorded in a period when oil and gas prices were significantly […]

For Oil Companies, It’s a Year of Slashing Costs and Jobs

This year will be another hard one for the oil majors as they cut spending. Over the past several weeks, the world’s biggest oil companies have posted earnings that show just how brutal it is these days to be an oil major. The industry is going through the biggest downturn since the 1990’s. Following a […]

Will 2016 Be Royal Dutch Shell’s Worst Year Yet?

There is a lot of pessimism regarding shares of Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B). Despite strong cash flow results behind its less-than-stellar earnings results, shares of Shell have been sinking faster than its Arctic drilling rigs (too soon?). Over the past 18 months, the company has lost more than half of its market capitalization while […]

Does the Shell/BG Group Deal Make Sense With Oil at These Levels?

On April 8, 2015, Royal Dutch Shell (NYSE:RDS-B) announced the terms of an agreement to buy BG Group for 383 pence in cash (or $5.51 per share) and 0.4454 Shell B Shares. If shareholders of both companies approve the deal when they vote on Jan. 28 and 29, the combined company will become the largest publicly […]

Oil Giants Start Losing Safety Net as Refining Margins Squeezed

Rakteem Katakey and Firat Kayakiran: Bloomberg.com: 19 JAN 2016 Refining profits that buttressed earnings for Exxon Mobil Corp. and Royal Dutch Shell Plc as crude prices plunged are now slumping, further pressuring all of the world’s biggest oil companies as they move into 2016. Global refining margins, the estimated profit from turning oil into gasoline and diesel, fell […]

Shell’s Earnings to Show Depth of Rout as Oil Extends Losses

Shell will on Wednesday become the first major oil producer to announce annual earnings as it enters the final stages of its plan to buy BG Group Plc in the industry’s biggest deal in years. Investors will scrutinize those preliminary numbers for signs Europe’s largest oil company is doing enough to justify the acquisition as […]

Shell in bed with the President of Argentina?

Dear John, It has taken some time to send you my promised request for information, but I’m now fulfilling my commitment.  I’m an Argentinian independent journalist. Usually, I write on international Politics, and in this job I regularly check your site. In recent times, however, I note the absence of references to the enormous political […]

Is Royal Dutch Shell A Buy At 52-Week Lows?

Extracts from an article by Mihir Mehta: 11 Jan 2016 Summary Shell has had a bad start to 2016 and is trading close to its 52-week low, but investors should not consider this as an opportunity despite a strong balance sheet. Shell’s strong balance sheet is overshadowed by the fact that its gross margin has […]

Royal Dutch Shell Looks To Curtail Capital Spending On Current Down Cycle In Global Oil Prices

Trefis Team Contributor: DEC 30, 2015  Oil & Gas companies across the globe are choosing to curtail capital expenditures even though it might mean the loss of growth in future production. Royal Dutch Shell Plc. is also adopting this strategy and recently announced that it is revising its capital spending estimates for 2016. This announcement is the […]

Shell Philippines says will exhaustively challenge 53.14 billion peso tax claim

MANILA | BY NEIL JEROME MORALES: Fri Dec 18, 2015 The Philippine unit of Royal Dutch Shell (RDSa.L) will exhaust all legal means, including international arbitration, to challenge a 53.14 billion peso (£751.8 million) tax claim against its Malampaya natural gas project, a company official said on Friday. Shell Philippines Exploration B.V, is the operator […]

Shell Has Underperformed, But It Could Be The Only Oil Major That Emerges Bigger From The Downturn

…the company’s profits plummeted 70% from last year to $1.77 billion… Sarfaraz A. Khan: Sunday, Dec 6, 2015 Summary The oil major Royal Dutch Shell is closing in on its biggest-ever merger with the UK based oil and gas producer BG Group. Shell has been the worst performing stock in its peer group and now […]

BP plc, Royal Dutch Shell and Others up in Arms against Coal

By Micheal Kaufman on Dec 2, 2015 Environmentalists are winning the race against energy companies, as the world tries to adopt environmental-friendlier ways of energy generation. World leaders from over 19 countries and prominent personalities such as Bill Gates and Mark Zuckerberg are at the UN Climate Summit in Paris, which has been ongoing from […]

Lorraine Mitchelmore is stepping down as the head of Shell Canada. But she’s not going quietly.

NOVEMBER 18, 2015 10:20 AM Extracts Shell has reduced greenhouse gas emissions by 20 per cent per barrel from its oilsands business in the past five years, through many small efforts, including making more efficient use of its trucks. Yet that hasn’t stopped Shell from being a target and paying a high price for the […]

Shell vessel heads to deep Gulf waters amid region’s uncertainty

Posted on November 13, 2015 | By Collin Eaton HOUSTON — Royal Dutch Shell’s newest oil-production vessel began a 15,000-mile journey this week from a Singapore shipyard to the world’s deepest underwater oil field, tasked with adding more crude to a worldwide oil glut that could upend industry plans to venture deeper offshore. The $1 […]

Oil giants ‘face cascade of claims’

Robin Pagnamenta Energy Editor: November 7, 2015 An investigation by New York’s attorney-general into ExxonMobil’s record on climate science could trigger a “cascade” of similar claims against other oil companies, including Britain’s BP and Royal Dutch Shell, legal experts have warned. Prosecutors might seek to investigate other companies that helped to fund organisations that queried climate […]

Shell says $60-$80 carbon price needed to justify carbon storage

Nov 6 2015, 16:59 ET | By: Carl Surran, SA News Editor Royal Dutch Shell (RDS.A, RDS.B) unveils a $1.3B carbon capture storage project for Alberta, but says future efforts to curb greenhouse gases will continue to need financial support from governments. Shell CEO Ben van Beurden says carbon capture and storage projects need a […]

Shell Canada carbon capture likely last to get Alberta subsidies

CALGARY, ALBERTA | BY MIKE DE SOUZA: Commodities | Thu Nov 5, 2015 9:01pm GMT Royal Dutch Shell’s launch on Friday of Canada’s first oil sands project to capture and bury carbon emissions – assisted by generous public subsidies – will likely be the last to get such funding, the Alberta government said this week. The […]

Big Oil Gears Up For $60 Break-even Price As Profits Sink

Gaurav Sharma: OCT 31, 2015 The latest quarterly results season is receding into the accounting archives, with BP, Royal Dutch Shell, Chevron and the keenly anticipated numbers of Exxon Mobil now with us. That lower oil prices continue to dent profits at the world’s biggest oil companies is no longer news. Figures on their often unloved […]

Shell share price: Company’s problems extend beyond oil prices, analyst says

Big bets on shale “destroyed huge amounts of capital” and the company has few growth assets…the firm is far more likely to remain a laggard than become a leader among the oil majors for the rest of this decade… by Veselin Valchev: Tuesday, 27 Oct 2015 Royal Dutch Shell Plc (LON:RDSA) carries hefty baggage and even […]

Shell had to write-down some of its shale assets in the U.S., after spending $24 billion on a bet that failed to pay off, with company executives regretting ever having made the investment. By James Stafford: Wed, 14 October 2015 A new report finds that the largest oil companies are set to cut spending on exploration […]

Western oil groups warn Nigeria against overhaul of contracts

Western oil executives are warning Nigeria against major changes to commercial contracts that could lead to the government taking a bigger share of revenues from the country’s deepwater fields, FT reports. The decision – which the government says will affect Royal Dutch Shell (RDS.A, RDS.B), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Eni (NYSE:E) and others “in […]

Royal Dutch Shell’s Arctic Bucket Of Ice Has Melted, Yield Is Now North Of 8%

Sep. 29, 2015 Summary * The Burger J well test results were a dud, no major reserves found. * Shell puts Arctic drilling on hold indefinitely, which further reduces future capex. * Dividend yield tops the 8% mark. Royal Dutch Shell (RDS.A / RDS.B) was always upbeat about the prospects of drilling in the Arctic, […]

Cash-strapped Nigeria to renegotiate contracts with oil majors

By: Carl Surran, SA News Editor: Sept 16, 2015 Nigeria’s state oil company says it plans to renegotiate production sharing agreements with oil majors including Royal Dutch Shell (RDS.A, RDS.B), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM) and Eni (NYSE:E), as the country has been hit hard by the plunge in global oil prices. “Some of the […]

Yes, ExxonMobil Could Buy Chevron

By Ben Levisohn: Sept 9, 2015 Oppenheimer’s Fadel Gheit and Luis Amadeo contend it’s just a matter of time before ExxonMobil (XOM) goes on a shopping spree–and argue that it’s theoretically possible Chevron (CVX) could be a target. They explain: Lower oil and gas prices for longer could accelerate industry consolidation, which could benefit large financially […]

How to Invest in Arctic Developments After Obama’s Alaska Trip

Arctic developments have great potential, but are they worth the risks? By Debbie Carlson: Sept. 7, 2015 As climate change melts some of the Arctic’s permafrost, natural resource companies and shippers are eyeing the potential to develop a region that is receiving renewed public attention from President Barack Obama’s trip to Alaska. According to global management […]

Court Says Chevron Can Be Pursued in Canada Over Ecuadorean Damage

By IAN AUSTEN and CLIFFORD KRAUSS: A version of this article appears in print on September 5, 2015, on page B2 of the New York edition The Supreme Court of Canada ruled on Friday that a group of Ecuadoreans can use an Ontario court in an attempt to collect billions of dollars from Chevron for environmental […]

Exxon Mobil Corporation, Chevron Corporation, BP And Royal Dutch Shell Face Challenging Dividend Environment

Bidness Etc sheds light on the challenges for companies like Exxon, Chevron, BP, Royal Dutch Shell, and Total SA in sustaining dividend payouts amidst depressed crude oil prices By: MICHEAL KAUFMAN: Sep 1, 2015  Crude prices have dropped more than 50% since the highs of June last year, following weak Chinese demand and a global supply […]

Market Rout

Oil’s slump has been brutal. More than half a trillion dollars of value has been wiped from the five biggest international oil companies — Exxon, Shell, Chevron, Total and BP — since mid-June last year. Rakteem Katakey: August 26, 2015: BLOOMBERG.COM Shares of the largest oil companies have slumped so low it suggests investors expect […]

Royal Dutch Shell Is Now A 7.54% Dividend Yield Monster

Aug. 24, 2015 6:45 PM ET Summary Stock market downturn takes Shell’s dividend yield to an astonishing 7.54%. The dividend looks reasonably safe. High initial yield but little growth expected in coming years. Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) doesn’t need an introduction. This Anglo-Dutch multinational is one of the largest, integrated oil & gas majors […]

Oil Companies Sit on Hands at Auction for Leases

By CLIFFORD KRAUSS: AUG. 20, 2015 PAGE B1 IN NEW YORK EDITION HOUSTON — With oil prices collapsing and companies in retrenchment, a federal auction in the Gulf of Mexico on Wednesday attracted the lowest interest from producers since 1986. It was the clearest sign yet that the fortunes of oil companies are skidding so fast […]

How Chevron, Exxon and Shell Will Be Impacted By Australian Tax Legislation

By: MICHEAL KAUFMAN: Aug 17, 2015 In the past, Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM) and Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) have managed to charge high interest rates from their Australian subsidiaries for the funding of their $54 billion Gorgon project. The high interest payments allowed the oil majors to enjoy massive tax-free […]

To please investors, Big Oil makes deepest cuts in a generation

August 7, 2015 Oil companies are making the largest cost cuts in a generation to reassure investors. They’re risking their own future growth. From Chevron Corp to Royal Dutch Shell, producers are firing thousands of workers and cancelling investments to defend their dividends. Cutbacks across the industry total $US180 billion so far this year, the most […]

Chevron Corporation, Royal Dutch Shell Plc & Other Oil Co.s Have Lost $1.3 Trillion Since Last Year

By: MICHEAL KAUFMAN: Aug 5, 2015 As the global benchmark of crude, Brent currently hovers around $50 per barrel. Meanwhile, the oil and gas industry has lost $1.30 trillion of its value this year, and this eroded value equals the annual gross domestic product (GDP) of Mexico. The combined market capitalization of 157 listed oil and […]

Inside Shell’s Extreme Plan to Drill for Oil in the Arctic

by Paul Barrett and Benjamin Elgin: 5 August 2015: BLOOMBERG.COM Protesters near the Polar Pioneer.: Photographer: Keri Coles/Greenpeace In a windowless conference room in Anchorage, a dozen Royal Dutch Shell employees report on the highest-profile oil project in the multinational’s vast global portfolio. Warmed by mid-July temperatures, Arctic ice in the Chukchi Sea, northwest of the Alaskan mainland, […]

Oil companies’ grim outlook weigh on investors’ sentiment

By Bloomberg | 4 August 2015 NEW YORK: The world’s biggest oil companies are painting a grim picture of the future and speculators are listening. Hedge funds reduced bullish bets to the lowest level in five years as oil capped the worst month since the financial crisis. The net-long position in West Texas Intermediate contracted 7 […]

BG Group Profits Crash By 65%

By LAURA CHESTERS FOR DAILY MAIL The oil price rout found new victims on both sides of the Atlantic yesterday as BG Group and Chevron revealed profits had tanked. BG, which is in the process of being sold to Royal Dutch Shell, reported a 65 per cent fall in second quarter profit to £275.5million, while […]

Logistics and Lizards Disrupt Chevron’s Project Off Australia

Chevron agreed to share the cost with Exxon Mobil, Shell and three Japanese power companies, Osaka Gas, Tokyo Gas and Chubu Electric Power. “This is probably the last of the megaprojects for the oil companies for a while…” By A. ODYSSEUS PATRICK: JULY 3, 2015 SYDNEY, Australia — Getting anything to Chevron’s gas-processing plant on Barrow Island […]

Royal Dutch Shell stock has fallen by over 26% in the last year

By: MICHEAL KAUFMAN: Published: Jun 10, 2015  The stock for Royal Dutch Shell Plc. (ADR) (NYSE:RDS.A) has fallen by over 26% in the last one year. The S&P 500 during the same period rose by 6.71%. The decline in the stock prices of energy companies has been a norm. Over the last one year, crude oil […]

Saudi Arabia Lets The World Drown In Oil

Article by Nathan Vardi: Forbes Staff: Friday 5 June 2015 To the surprise of nobody, Saudi Arabia and the other OPEC member states decided in Vienna on Friday to maintain production targets of 30 million barrels a day, making sure the world remains flooded with oil. The fact that OPEC—particularly the core countries of Saudi Arabia, […]

BG deal disguises a hole in Shell’s financial projections

The market is having one of its periodic anxiety attacks about Big Oil.  BG deal disguises a hole in Shell’s financial projections and the dividend is not sustainable. Shell shares have slumped by 14%. sort of yield may not come again. FULL FT ARTICLE:  5 June 2015 (WITH WORKING LINKS)

European Big Oil Opens Schism on Climate With U.S. Rivals

Article by Tara Patel and Javier Blas published 1 June 2015 by Bloomberg.com  The heads of Europe’s largest oil and gas companies joined together for the first time to call for governments to agree on carbon pricing at a United Nations climate summit, opening a schism with their American rivals. “It’s clear that the subject isn’t viewed in the […]

Royal Dutch Shell, BP plc Seek UN Support Over Carbon Pricing

By: MICHEAL KAUFMAN: Published: Jun 1, 2015 Major oil exploration and production companies in Europe are coming together to seek the United Nations’ support for the first time, in putting forward a plan that will apply brakes to global warming. As pressure mounts on oil companies over concerns of climate change, company executives have moved […]

Big Data In Big Oil: How Shell Uses Analytics To Drive Business Success

By Bernard Marr:  26 May 2015 The oil and gas industries are facing major challenges – the costs of extraction are rising and the turbulent state of international politics adds to the difficulties of exploration and drilling for new reserves. In the face of big problems, its key players are turning to Big Data in the hope […]

Oil company bosses’ bonuses linked to $1tn spending on extracting fossil fuels

Bosses at the world’s big five oil companies have been showered with bonus payouts linked to a $1tn (£650bn) crescendo of spending on fossil fuel exploration and extraction over nine years, according to Guardian analysis of company reports. FULL ARTICLE

Why Shell’s $73 Billion Merger Could be Cheating Dividend Investors

By Adam Galas: May 21, 2015 Royal Dutch Shell‘s (NYSE: RDS-A  ) $73 billion buyout of BG Group (NASDAQOTH: BRGYY  ) would be the second-largest oil merger in history, but long-term Shell investors should be asking whether the company overpaid. In examining the terms of the deal, and what Shell plans to do with BG’s assets, I think […]

Shell BG £55bn merger could still fall apart.

By Rupert Hargreaves – Wednesday, 13 May, 2015 BG (LSE: BG) and Royal Dutch Shell’s (LSE: RDSB) mega-merger is the largest deal the oil & gas sector has seen for some time. However, the combination isn’t a done deal just yet.  There are still many kinks to iron out, and the deal has to get the green light […]

Jim Chanos just delivered a presentation slamming a $70 billion energy deal people have been swooning over

Jim Chanos just delivered a presentation slamming a $70 billion energy deal people have been swooning over By Linette Lopez: 7 May 2015 Last month, when the news broke that Royal Dutch Shell was in talks to buy British energy company BG Group, the market gave it the normal golf clap that it gives to […]

Will Royal Dutch Shell Be Able To Successfully Integrate BG Group plc In Its Fold?

Bidness Etc takes a look at challenge facing Shell as it incorporates BG Group in its fold By: MICHEAL KAUFMAN: Published: Apr 27, 2015 at 1:45 pm EST Royal Dutch Shell plc (ADR) (NYSE: RDS.A) $70 billion acquisition of BG Group plc (ADR) (OTCMKTS: BRGYY) is a first of such magnitude for the Hague-based oil company. […]

UK government could step in to stop a BP takeover as rumours swirl off possible US interest in wake of Shell deal for BG Group

UK government could step in to stop a BP takeover as rumours swirl off possible US interest in wake of Shell deal for BG Group By LAURA CHESTERS FOR THE DAILY MAIL: 27 APRIL 2015 The British government could step in to protect oil giant BP from any potential takeover amid rumours US groups ExxonMobil […]

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