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Shell faces struggle over €3bn Eneco deal

The Sunday Telegraph understands that Shell is facing internal divisions over the deal and mounting political opposition.

Royal Dutch Shell has struck a stumbling block in its march into the European power sector over plans to pluck a Dutch utility from public ownership.

The Anglo-Dutch oil major is a front-runner in the €3bn (£2.64bn) race to snap up Eneco from the hands of 53 Dutch municipalities after the decision to privatise the green energy company. 

The group already partners with Eneco on wind power projects in Europe, which could pave the way for its next step into the power market after buying UK energy supplier First Utility for a rumoured £200m. read more

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

Shell ‘transformation’ doubles profits as oil recovery takes hold

Jillian Ambrose

Royal Dutch Shell has doubled its profits following the oil major’s worst financial year in over a decade as the oil market recovery takes hold. The Anglo-Dutch oil giant said the “transformation” following its 2016 mega-merger with BG Group and $30bn portfolio overhaul has reopened flows of cash back into the business as oil prices soared to over $65 a barrel last year, from under $30 a barrel at its lowest point in early 2016. Shell’s earnings on a ‘current cost of supply’ (CCS) basis, which is a standard oil industry measure, more than doubled from the previous year to reach $15.8bn (£11bn) for 2017. FULL ARTICLE read more

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

Shell earnings expected to hit £11bn after oil prices recover

Jillian Ambrose: 

Royal Dutch Shell is set to unveil its highest earnings since the oil market collapse this week, just one year after the oil major’s lowest profits in more than a decade.

The Anglo-Dutch oil group’s efforts to overhaul its portfolio during the depths of the oil market rout are expected to be turbo-charged by the recovery in oil prices to over $65 a barrel last year, from under $30 a barrel at their lowest point in early 2016.

Analysts predict the group’s earnings on a “current cost of supply” basis will be more than $15.7bn (£11bn) for 2017 from just $3.5bn (£2.5bn) the year before. The final quarter of last year is expected to generate higher earnings than the whole of 2016 at $4.2bn (£3bn), according to analyst consensus forecasts. read more

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

Shell plots move onto Uber’s ride-hailing turf with London licence application

Shell is seeking to cope with the threat from electric vehicles CREDIT: BLOOMBERG

Royal Dutch Shell is planning to crash London’s transport market with a new venture for the FTSE 100 energy giant that could create a fresh challenger to  Uber.

FarePilot, a Shell subsidiary, has applied for a private hire licence with Transport for London and has held initial conversations with drivers about a new service, The Telegraph understands.

It comes amid widespread upheaval in London’s taxi market and uncertainty over Shell’s future as petrol and diesel cars are phased out in favour of electric and hybrid vehicles. Last year, Uber was stripped of its private hire licence in a controversial move that threatens to banish its cars from London’s streets. read more

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

Barclays and Shell warn of huge hit to profits from Trump’s tax reform

Two of Britain’s biggest companies have warned that tax reforms in the US will result in a multi-billion pound hit to their earnings.

Barclays and Shell used the first day of trading since the festive break to signal the likely impact of the Tax Cuts and Jobs Act, which was signed into law in the US on Dec 22, as UK markets were shutting for the Christmas break.

The measure, enacted by President Donald Trump, will result in corporate tax rates falling from 35pc to 21pc, a move that the two FTSE 100 companies said they expected to be favourable in the long-term. read more

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

Oil giant Shell to buy ‘big six’ energy rival First Utility

Ben van Beurden, chief executive of Royal Dutch Shell, has said he intended to increase the company’s investments in new-energy businesses toward $2 billion a year. Credit Adrian Dennis/Agence France-Presse — Getty Images

Oil giant Shell to buy ‘big six’ energy rival First Utility: The Telegraph

Shell enters UK household energy market: BBC News

Shell buys UK independent energy supplier First Utility: Financial Times

Shell’s £500m deal to sell homes gas and electricity: Oil major buys Britain’s biggest independent power supplier: This is Money read more

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

Only collaboration will solve the global warming puzzle

BEN VAN BEURDEN: 30 NOVEMBER 2017

The world has a puzzle to solve, a jigsaw with a spectacular number of pieces to place. If it can succeed it will win a priceless prize: it will achieve the goal of the Paris Agreement, to limit global warming to under 2C. It is the puzzle of the energy transition.

Piecing together a solution is going to be tricky and we at Shell have been trying to make progress as a company. We have a way forward now and I am going to share it with you. But first, the jigsaw. read more

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

Shell signals an end to the oil downturn with return of all-cash payouts

Jillian Ambrose: 

Royal Dutch Shell has signalled the end of the three-year oil market downturn by restarting its all-cash shareholder payouts as its cash flow begins to boom. The oil major began paying out dividends in the form of shares in 2015, in the wake of the oil price crash and its $50bn takeover of BG Group. But chief executive Ben van Beurden said the Anglo-Dutch group was now confident that it could call an end its scrip dividend as its cost-cutting and divestment programme pays off. The leaner business will also enable Shell to double down on its investment in ‘new energies’ including low-carbon fuels and renewable electricity. FULL ARTICLE read more

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

Oil prices head towards $70 in the wake of Saudi purge

Jillian Ambrose: 

Global oil prices broke above two year highs and could climb higher to hit $70 a barrel in the wake of a shock anti-corruption purge of Saudi royals and senior officials.

Oil prices bounded to highs not seen since July 2015 at over $64 a barrel on Monday following a sweep of arrests targeting ministers, investors and members of the Saudi royal family on corruption charges over the weekend.

The shock crackdown also helped drive shares in Royal Dutch Shell to within a breath of its highest ever share price at £24.89 following the company’s rosy financial results last week. Before the oil price crash in late 2014 the company’s shares traded at a peak of £25.76. FULL ARTICLE read more

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

Oil rebound drives Shell to booming profits

Jillian Ambrose: 

Royal Dutch Shell became the latest major oil company to deliver better than expected earnings in recent months as the market recovery begins to gain traction.

The Anglo-Dutch oil giant reported $4.1bn (£3bn) in earnings for the last quarter on a current cost of supply basis, its standard measure of profitability. The sum comes in well above analyst forecasts that the group would make $3.6bn for the latest quarter.

Shell’s quarterly earnings are almost 50pc higher than in the same quarter last year, when they reached $2.8bn. read more

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

Shell director resigns amid Rio Tinto fraud allegations

director of Shell has resigned after being charged with fraud in relation to his former job at global miner Rio Tinto.

Guy Elliott said he would step down from his non-executive director role at Shell with immediate effect after US regulator the Securities and Exchange Commission charged him in relation to a botched coal deal while he was chief financial officer at Rio. Mr Elliott has been charged with fraud alongside Rio Tinto and its former chief executive Tom Albanese over allegations they hid the true value of coal assets in Mozambique following a disastrous acquisition. FULL ARTICLE read more

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

US shale to help power Shell’s multi-billion dollar chemicals drive

Jillian Ambrose: 

Royal Dutch Shell will begin construction of a new $10bn petrochemicals site in the gas-rich Marcellus shale basin in the US within the next ten weeks as part of a radical growth plan for its petrochemicals business.

The oil major told investors that global demand for petrochemicals – which are used to manufacture the raw materials used to make plastics, paints and textiles – is set to grow by around 50pc by the end of the decade, making it a key area for the company’s growth. read more

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

Shell plans UK’s first ‘no-petrol’ station as journey towards clean motoring continues

Jillian Ambrose: 

Royal Dutch Shell is preparing to open Britain’s first “no-petrol” service station in the capital next year as part of its drive towards cleaner motoring.

The forecourt is expected to offer motorists biofuels, electric vehicle charge points and hydrogen cell refuelling instead of traditional petrol and diesel pumps. Meanwhile, the buildings are due to be powered by ­renewable energy from solar panels on the forecourt roof.

Sources close to the Anglo-Dutch oil giant told The Telegraph that a central London site had been chosen, but the project was still at a very early stage. A spokesman for Shell declined to comment. read more

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

Shell/Petrobras: a partnership of corrupt oil giants

The Brazilian Petrobras Scandal: The Brazilian oil giant Petrobras is the largest company in the Southern Hemisphere. On November 14, 2014, a series of police raids netted politicians and Petrobras bigwigs who had paid $2 billion in bribes… Now we have news that Petrobras is linking up with Royal Dutch Shell, which is currently mired in a billion dollar scandal: OPL 245…

Shell and Petrobras sign technical cooperation agreement to strengthen deep water partnership

Posting on Shell Blog by Bogus Group

Shell MoU with Petrobras and their partnership to share experience on cost efficiency and use of technology.

Déjà vu springs to mind (Daily Telegraph 01 March 2012) on BG Group finance of $1.8bn from Brazilian Development Bank to fund interests offshore Brazil (was this the same interests that Chapman demanded his cohorts in Brazil disclose over estimated reserves?).

Daily Telegraph 14 May 2013 also noted Chris Finlayson rhetoric to “keep up the pace with huge discoveries” and focusing on “value over volume”, leaving the company “lean and agile”. read more

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

Big Oil to be usurped by gas in little more than a decade, experts warn

Jillian Ambrose: 

THE dominance of Big Oil will be usurped in less than two decades by the dawn of a golden age for natural gas lasting at least until the middle of the century. One of the world’s biggest risk assurance experts in the global energy ­industry has predicted that gas will emerge as the world’s most important source of energy by the mid 2030s ­after a slow descent for oil which will peak within ten years and the ongoing decline of coal. The fresh findings are reassuring for investors in oil supermajors BP and Royal Dutch Shell which have both ­begun to shift their portfolios towards gas exploration and production in the wake of the global oil price crash. FULL ARTICLE read more

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

The electric jolt that roused Big Oil

Jillian Ambrose: 

Identifying a tipping point is not always easy. But when one of the world’s most powerful oil bosses says he is in the market for an electric car, there can be little doubt. Ben van Beurden, the Royal Dutch Shell boss, last week delivered the clearest indication yet that the burgeoning electric vehicle industry is already hastening the decline of global oil demand. “When that will be is not certain. But that it will happen, we are certain,” he told investors. It was not so much a foil to the group trebling second quarter profits as a statement of intent: for “Big Oil” it is time to adapt or die, and Shell intends to adapt. READ MORE 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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