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Posts under ‘Exxon Mobil’

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 […]

Royal Dutch Shell plc and BG Group plc merger

By Brett Owens: Forbes.com: 6 Feb 2016 The Royal Dutch Shell plc ADR (RDS.A) and BG Group plc ADR (BRGYY) merger, which looked liked such a win-win for everyone has grown a bit complicated as the deal nears completion. The premium has shrunk, as have the benefits of the merger with prices under $90 a […]

The world’s most hated company: can NGOs help turn Shell’s reputation around?

While Shell’s plummeting profits are partially due to the falling price of oil, the years of negative publicity surrounding the company have likely also had an effect… Alison Moodie: Saturday 6 February 2016 14.00 GMT In mid-2015, Shell realized its project in the Chukchi Sea, off the coast of Alaska, was in trouble. After nearly a decade […]

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 […]

Shell shareholders vote in favour of £40bn BG takeover

By Jillian Ambrose: 12:35PM GMT 27 Jan 2016 Shell shareholders have given the nod to the £40bn takeover of BG Group by a strong majority. The 83pc vote in favour of the plans paves the way for the creation of Britain’s largest public company, pending a separate vote by BG shareholders on Thursday which is widely […]

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 the company most criticised by campaigners

Sunday 17 JAN 2016 German carmaker Volkswagen was one of the “most disliked” companies for pressure groups last year following its emissions scandal, a survey has found. Shell was the most criticised by campaigners, followed by Monsanto, which makes genetically modified food. Half of the top-10 most criticised companies on Sigwatch’s list were energy firms, […]

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 […]

Big Oil braced for global warming while it fought regulations

As many of the world’s major oil companies — including Exxon, Mobil and Shell — joined a multimillion-dollar industry effort to stave off new regulations to address climate change, they were quietly safeguarding billion-dollar infrastructure projects from rising sea levels, warming temperatures and increasing storm severity. By AMY LIEBERMAN AND SUSANNE RUST: DEC. 31, 2015 A […]

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 […]

Royal Dutch Shell makes deeper cuts

By Daniel J. Graeber: Dec. 23, 2015 THE HAGUE, Netherlands, Dec. 23 (UPI) — With the company expecting improved efficiency after merging with BG Group, Royal Dutch Shell said it plans to cut spending for next year more than expected. Shell published a prospectus and circular related to its $7 billion tie-up with BG Group, […]

The many reasons why Shell’s deal with BG will happen in 2016

How idiotic would its board look if it ditched its current bride at the altar, only to see her hook up with a rival in a few months’ time? Jim Armitage: Wednesday 23 Dec 2015 It will be the first big test of 2016: will Shell press on with its takeover of BG when the […]

Oil price slide unlikely to scuttle Shell’s takeover of BG

…rejection of the takeover could entail losses all round, making it more painful for those with shares in both companies. BG shares would likely collapse… LONDON | BY RON BOUSSO, KAROLIN SCHAPS AND SINEAD CRUISE: Thu Dec 17, 2015 Royal Dutch Shell’s takeover of BG Group may look less attractive after the slide in oil prices […]

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 […]

Royal Dutch Shell, Exxon Mobil and Glencore: Energy companies risk wasting trillions on uneconomic projects

By Jessica Morris: 25 November 2015 Energy companies risk wasting $2.2 trillion (£1.46 trillion) on uneconomic projects over the next 10 years, according to a new report. Think tank the Carbon Tracker Initiative’s (CTI) report how fossil fuel firms risk destroying investor returns says energy companies’ focus on fossil fuels at the expense of emerging clean technologies […]

Some Thoughts On Royal Dutch Shell’s Dividend In 2016

Casey Hoerth, Casey’s Finance Journal (Blog) : Nov. 25, 2015  Summary Shell expects substantial cost savings and capex cuts in 2016. Dividend sustainability in 2016 will depend on Brent crude prices. At this time, I prefer companies that can actually acquire with oil at these prices. Back in April, I wrote that Royal Dutch Shell’s (NYSE:RDS.A) dividend, […]

Gas Field quakes hit Dutch dykes

Senay Boztas AMSTERDAM: 22 Nov 2015: Sunday Times THE Dutch are being forced to earthquake-proof their dykes after a spate of tremors blamed on the effects of extracting gas from the vast field running beneath the country. Although Holland lies far from any big geological fault lines, half a century of exploitation of the Groningen field […]

Shell to decide on Ormen Lange subsea compression in 2016

STAVANGER, NORWAY: Business News | Thu Nov 19, 2015 Shell plans to decide next year whether to resume installing subsea compressors at its giant Ormen Lange field offshore Norway, a company’s senior executive said on Thursday, after stopping the project last year to save costs. “We still expect in the course of 2016 that we will […]

Safety risks prompt Dutch court to order cuts at Groningen gas field

Sectors | Wed Nov 18, 2015 4:33pm IST By Anthony Deutsch and Toby Sterling A Dutch court on Wednesday ordered more cuts in gas production at Groningen, Europe’s largest gas field, saying the government had given too little consideration to the stronger and more frequent earthquakes extraction had caused. Output at the field, the world’s […]

Dutch court orders more cuts in gas production

Wednesday 18 November 2015 [JURIST] The Dutch Council of State [official website, in Dutch] on Wednesday ordered [judgment, in Dutch; press release, in Dutch] more cuts in gas production. The court came to this decision after stronger and more frequent earthquakes occurred in the Netherlands as a result of extraction. The Groningen [BBC backgrounder], the […]

Shell finds 100 million oil barrels in deep-water Gulf discovery

Posted on November 18, 2015 | By Collin Eaton HOUSTON — Probing one of its recent discoveries in deep waters of the Gulf of Mexico, Royal Dutch Shell found 100 million barrels of oil equivalent buried at its Kaikias field, nearby three of its massive production facilities and a network of subsea pipes, the company […]

Dutch Court to Rule on Gas Output From Europe’s Biggest Field

Anna Shiryaevskaya, Fred Pals and Kelly Gilblom: 18 November 2015: Bloomberg.com Final ruling Wednesday on output from EU’s biggest gas field Government plans to decide on future production in December A Dutch court will Wednesday decide on the future of Europe’s largest natural gas field as local residents seek to stop tremor-inducing production that’s damaging their houses. […]

An Oil-Soaked Globe as Production Keeps Climbing and Demand Falls

A version of this article appears in print on November 14, 2015, on page B1 of the New York edition HOUSTON — Such is the state of the oil industry these days that there is sometimes nowhere to put the oil. Off the coast of Texas, a line of roughly 40 tankers has formed, waiting […]

Ineos agrees shale gas deal with Shell and ExxonMobil

A deal to supply energy giants Shell and ExxonMobil with American shale gas from the Ineos plant at Grangemouth has been hailed a “landmark agreement”. The Fife Ethylene Plant (FEP) in Mossmorran will receive the ethane from US shale gas, which is obtained using the controversial hydraulic fracturing “fracking” technique, from the middle of 2017. […]

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 […]

Exxon Mobil Investigated for Possible Climate Change Lies by New York Attorney General

Mr. Schneiderman’s decision to scrutinize the fossil fuel companies may well open a new legal front in the climate change battle. The Exxon inquiry might expand further to encompass other oil companies… By JUSTIN GILLIS and CLIFFORD KRAUSS: NOV. 5, 2015 The New York attorney general has begun an investigation of Exxon Mobil to determine whether 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 […]

BP plc, Royal Dutch Shell And Others Declare Joint Action On Climate Change

By: Micheal Kaufman: Oct 16, 2015  Global warming over the past few years has become a major issue. Companies around the world keep on pumping and burning record levels of conventional fossil fuels. Burning of fossil fuels leads to carbon emissions, which are highly detrimental for the environment. Activists have now have taken a stern hand […]

New Concern Over Quakes in Oklahoma Near a Hub of U.S. Oil

By MICHAEL WINES: OCT. 14, 2015 A sharp earthquake in central Oklahoma last weekend has raised fresh concern about the security of a vast crude oil storage complex, close to the quake’s center, that sits at the crossroads of the nation’s oil pipeline network. The magnitude 4.5 quake struck Saturday afternoon about three miles northwest of […]

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 […]

Shell and Exxon’s €5bn problem: gas drilling that sets off earthquakes and wrecks homes

Groningen has been one of Europe’s richest gas fields for 30 years, and thousands of people say their homes have been damaged by the tremors that drilling sets off. Now a class action may finally bring them compensation – and force a rethink of European energy security Highlights from an article by Lucas Amin Published Saturday, […]

Shell Starts Nigeria Offshore Expansion of Up to 50,000 Barrels

Rakteem Katakey: Bloomberg.com: 5 Oct 2015 Bonga phase 3 oil passes through floating production facility Shell has 55% of Bonga, Exxon 20%, Total, Agip 12.5% each Royal Dutch Shell Plc expanded oil production off Nigeria’s coast by starting the third phase of its Bonga field.  That phase has a peak production capacity of about 50,000 […]

Shell-BG Deal Could Face Regulatory Sanctions, But Shell Will Do Everything It Can To Save Deal

Trefis Team, CONTRIBUTOR: 2 Oct 2015 Ever since announcing the $70 billion deal to acquire BG Group back in April, Royal Dutch Shell Plc. has been busy these last few months obtaining the required merger related approvals from various regulatory authorities. After obtaining the required clearances in Brazil, the U.S., and Europe, the process hit a […]

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, […]

Shell/Exxon NAM JV cuts 2000 jobs due to low oil price and liability for Dutch earthquakes

“Thousands of buildings have been damaged in earthquakes caused by the ground settling after the gas has been removed. ‘NAM has continued to drill in Groningen even though it is well aware of the risks, and has put dozens of lives in danger…” By John Donovan: Saturday 19 Sept 2015 A spokesperson for the Dutch […]

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 […]

Iraq Asks Oil Companies to Cut Spending After Drop in Prices

By Khalid Al Ansary: September 15, 2015 Iraq asked oil companies to reduce their 2016 spending plans in the country by Sept. 30, citing lower oil prices and government revenue. The reduced budgets shouldn’t affect 2015 production, Abdul Mahdy Al-Ameedi, director of licensing at Iraq’s oil ministry, said by phone Tuesday, citing a letter that the […]

Groningen gas production challenged in Dutch court

THE HAGUE, SEPT 10 | BY TOBY STERLING (Reuters) – A Dutch high court on Thursday began hearing complaints from groups seeking to reduce or stop gas production at the Groningen gas field, Europe’s largest, to reduce the danger of earthquakes. No date has been set for a ruling by the Council of State, but […]

Riled Locals Fight Output From Europe’s Largest Gas Field

Groningen gas field produces 61 percent of Dutch fuel Complainants say gas extraction has caused earthquakes By Kelly Gilblom: BLOOMBERG.COM: Sept 10, 2015 A Dutch court is set to hear arguments that production from Europe’s largest natural gas field should be suspended because of earthquakes linked to extraction. The Netherlands has progressively cut the amount of […]

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 […]

Move Over Exxon, Russian Drillers Are Oil World’s Top Performers

By Stephen Bierman and Rakteem Katakey: Sept 8, 2015 At a time when the collapse in crude prices pushes Russia’s economy into a recession, the nation’s oil producers are managing to beat their western counterparts. On measures including cash flow, profit margins and share prices, OAO Rosneft, Lukoil PJSC — Russia’s two largest oil producers — and OAO […]

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 […]

SHELL AND EXXON TO COMPENSATE DUTCH EARTHQUAKE VICTIMS

By: MICHEAL KAUFMAN: Sep 3, 2015 A Dutch court has ruled that Nederlandse Aardolie Maatschaapij BV (NAM), a joint venture of Exxon Mobil Corporation (NYSE:XOM) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A), must compensate those affected by the earthquakes near the Groningen gas field, one of the biggest natural gas reserves in the world. The Dutch […]

Shell, Exxon Ordered to Pay Groningen Earthquake Compensation

By MAARTEN VAN TARTWIJK: Sept. 2, 2015  AMSTERDAM—A Dutch court ruled Wednesday that Royal Dutch Shell PLC and Exxon Mobil Corp must compensate homeowners for a drop in house prices caused by earthquakes linked to production at the Groningen gas field. The ruling could open the door to a wave of compensation claims against the energy […]

Dutch Court Says Gas Producer Must Compensate Homeowners in Quake Zone

By REUTERS SEPT. 2, 2015 AMSTERDAM — A court in the Netherlands ruled on Wednesday that a natural gas company, a joint venture by Royal Dutch Shell and Exxon Mobil, must compensate homeowners for declines in the value of their properties because of earthquakes linked to production at the Groningen field. The ruling by the court […]

BG says European Commission signs off on Shell bid

Wed Sep 2, 2015 BG Group Plc (BG.L) said the European Union’s antitrust regulators had approved Royal Dutch Shell Plc’s (RDSa.L) $70 billion takeover bid for the oil and gas producer. The deal, which will help Shell compete better with world No. 1 oil major ExxonMobil (XOM.N), has already received the green light from regulators […]

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 […]

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