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Posts under ‘Gas’

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 […]

Almost all of BG employees, even senior management expect to be let go

EXTRACTS FROM ANONYMOUS POSTINGS ON WEBSITE: thelayoff.com UNDER THE HEADING: EXTRACTS It’s Official SHELL to layoff 6500 employees Also this 6500 number doesn’t count the contractors and BG employees. Almost all of BG employees, even senior management expect to be let go. Anonymous127132 20 days ago (Sun 07/12/15 07:47:56 UTC) Shell Houston Secret Reductions While Shell […]

Shell toughens local project hurdles

Matt Chambers: Resources Reporter: Melbourne: 31 July 2015 Oil major Shell has laid down tougher hurdles for its Australian projects including Browse LNG off Western Australia and Arrow coal-seam gas in Queensland. It has cut the oil price at which new projects need to go ahead and flagged a major LNG project ­pipeline overhaul if its planned […]

Shell, Eni say look to return to Iran

Fri Jul 31, 2015 Royal Dutch Shell and Italy’s largest oil producer Eni say they are looking to return to projects in Iran’s upstream oil and gas sectors.  “For us, (Iran) is a huge gas province so it would be good to be there — in conventional gas — at the right terms,” Shell’s financial […]

Shareholders should demand that Shell’s activities in the Arctic be stopped

By a Regular Contributor Hopefully, Shell will soon accept that in the US Arctic their position is now untenable… If RDS wants to cut capex (and exposure), FLNG is a good place to start, as Simon Henry suggested yesterday. The Arctic should be next.  The Arctic is rapidly acquiring a similar profile to the Brent […]

Royal Dutch Shell signals Browse FLNG go-ahead far from certain for 2016

By Angela Macdonald-Smith: Jul 30 2015 Royal Dutch Shell has signalled that a final go-ahead next year for the Browse floating liquefied natural gas project in Western Australia is far from a certainty given the cost challenges of the venture in the depressed oil price environment. Chief financial officer Simon Henry listed Browse among several large international […]

Shell to cut jobs, spending to cope with lower oil prices

LONDON | BY RON BOUSSO AND KAROLIN SCHAPS: 30 July 2015 Royal Dutch Shell on Thursday reported a 37 percent drop in second quarter profits and said it would cut 6,500 jobs this year and reduce spending further to deal with an extended period of lower oil prices. The Anglo-Dutch oil and gas company also said […]

More and bigger drilling-linked earthquakes rattle Oklahoma

By Heide Brandes: 28 July 2015 OKLAHOMA CITY (Reuters) – Several earthquakes shook Oklahoma on Monday as the state experiences a sharp increase in the frequency of tremors linked to wastewater disposal from gas and oil drilling, including from fracking, state and federal officials said. Three of Monday’s quakes measured above a magnitude 4.0, with […]

Big oil to sharpen focus on costs after $200bn of cuts

Europe’s biggest oil companies have to find deeper cuts as oil prices expected to weigh on earnings By Andrew Critchlow, Commodities editor: 27 July 2015 Three of Europe’s biggest oil companies will report weaker earnings this week and the City is looking for guidance on how to mitigate a sustained slump in Brent crude prices […]

British energy giants set to axe costs in a bid to cope with falling gas and oil prices

BG could reveal a 75 per cent fall in profit to £200million By LAURA CHESTERS FOR THE DAILY MAIL: 26 July 2015 The falling price of oil and gas continues to take its toll on energy firms as British Gas-owner Centrica, BP and Royal Dutch Shell are set to reveal increased cost cutting to cope. The […]

Brazil clears $70 bln BG-Shell merger, BG says

Markets | Fri Jul 24, 2015 5:53pm EDT BG Group Plc on Friday confirmed that it has received final unconditional clearance from Brazilian competition authority CADE for its acquisition by bigger rival Royal Dutch Shell. The clearance of the $70 billion merger follows the 15-day period during which the preliminary approval granted by CADE on […]

Shell-BG merger approved by Brazil

THE HAGUE, July 24, 2015 /PRNewswire/ — NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION Royal Dutch Shell plc (“Shell”) (NYSE: RDS.A) (NYSE: RDS.B) today announced that its recommended combination with BG […]

Shell’s Positioning For Better Russia And Iran Relations Is Part Of Its Global Gas Strategy

Zoltan Ban: 23 July 2015 Summary Shell has been showing long-term interest in moving more towards natural gas for a while, with natural gas production surpassing its oil production in 2013. Aside from its major acquisition of BG group, it is forming an alliance with Gazprom and is looking to be among the first in […]

Here’s Why Royal Dutch Shell plc Was Downgraded By S&P

According to S&P, the softness in crude oil prices and significant capital expenditures, despite recent spending cuts, have weakened Shell’s financial risk profile, which is reflected in the ratings downgrade. By: MICHEAL KAUFMAN: Jul 22, 2015  Standard & Poor’s (S&P) has downgraded the credit rating of European oil major Royal Dutch Shell plc (ADR) (NYSE:RDS.A) […]

Shell accused of providing £25,000 in alcohol to police

Richard Hartley-Parkinson for Metro.co.uk Wednesday 22 Jul 2015 Shell has been accused of supplying £25,000 in alcohol to Irish police officers by two suppliers to an Irish gas project. Desmond Kane and Neil Rooney both claimed in court that they were told by someone from Shell E&P Ireland to buy the alcohol, according to the Irish Journal. […]

S&P cut its rating on Shell after big BG merger

Standard & Poors cut its rating on Royal Dutch Shell Plc (RDSa.L) by one notch to ‘AA minus’ from ‘AA’, citing a weaker financial risk profile, mainly due to soft oil prices, and continuing substantial capital expenditures. The rating agency said the outlook on the company is negative reflecting possible adverse effects on credit metrics […]

Shell asked for £25,000 worth of alcohol to be delivered to gardaí in Mayo, court told

The detailed claims were made in a Mayo court last week. TWO FORMER SUPPLIERS to the Corrib gas project told a jury they supplied £25,000-worth of alcohol to gardaí in 2007 on behalf of Shell E&P Ireland. The allegations were made by Desmond Kane and Neil Rooney, co-owners of OSSL, which had previously supplied personal […]

Men tell court they supplied alcohol to Belmullet Gardaí for Shell

EXTRACTS Under oath, Mr Neil Rooney claimed that the first delivery of alcohol to Belmullet Garda Station was made in 2005, and that in 2007, he was asked by Conor Byrne, a Senior Pipeline Engineer with Shell, to make a large delivery. Mr Rooney, from Downpatrick, Co Down, said he went to the north and […]

Investors Are Underestimating Royal Dutch Shell Plc’s Deal To Buy BG Group plc

By Rupert Hargreaves – Monday, 20 July, 2015 Large-cap FTSE 100 blue chips like Royal Dutch Shell (LSE: RDSB) are considered to be relatively safe investments. Unfortunately, Shell has been trying to go against this belief over the past year. During the past 12 months Shell has taken on three high-risk projects, all of which could cripple the company if […]

Shell to cut capital expenditure to adjust books for plunge in oil prices

By Jerin Mathew: July 20, 2015 Anglo-Dutch energy major Royal Dutch Shell plans to cut its 2015 capital expenditure, as the company looks to balance its accounts in light of a 50% decline in oil prices since June 2014. The Financial Times reported that Shell’s CEO Ben van Beurden is expected to outline the cut […]

Royal Dutch Shell expects to save “billions” through BG Group deal

Royal Dutch Shell has told investors that the massive £55bn takeover of BG Group will produce “billions” in savings. Projected savings from cost reductions verifiable under takeover rules, such as merging headquarters, come to about £1bn, but the company has said that savings are actually likely to be a “multiple” of this, because of “value […]

Shell expects oil price recovery to take several years

Ron Bousso, Karolin Schaps and Dmitry Zhdannikov, Reuters LONDON (Reuters) – Royal Dutch Shell expects oil prices to recover gradually over the next five years, with progress slowed by persistent global oversupply and receding Chinese demand growth. The Anglo-Dutch energy giant is betting on crude rising to $90 a barrel by 2020, a key assumption […]

Here’s How Shell Can Restart Its Tar Sands Projects In Canada

By: MICHEAL KAUFMAN Exploring for new oil has now become a difficult task for the oil majors. Oil and gas are now mostly situated in the deep-waters, Canadian tar sands and the Arctic waters where the cost of exploration and production is very high. These high costs coupled with the lower crude oil prices make […]

Royal Dutch Shell plc Confirms Deal With Morgan Stanley: Shares Up 2%

By: MICHEAL KAUFMAN: Jul 11, 2015 Royal Dutch Shell plc (NYSE:RDS.A) plans to establish a strong footing in the natural gas sector. In April 2015, the company finalized its $70-billion deal with BG Group plc (OTCMKTS:BRGYY). If approved by the regulatory authorities, the merger will give Shell access to BG Group’s valuable assets in Brazil and […]

Trial shown footage of protesters at Shell compound

Footage appeared to show some protesters and security officers involved in scuffles The jury in the trial of two Shell protesters were shown video footage of the protest where up to 70 protesters entered a Shell compound in north Mayo. The video footage was captured by CCTV at the compound and by security officers policing […]

Shell U.S. Unit May Drop ‘Oil’ From Name in Sign of Times

by Gerrit De Vynck: 9 July 2015 The U.S. unit of Royal Dutch Shell Plc may soon drop the word “oil” from its name in a move that would symbolize its transition to other sources of energy, an executive said. With Shell Oil Co.’s parent focusing more on natural gas and looking at other energy […]

Brazil clears Shell’s $70 bln purchase of BG

Brazil clears Shell’s $70 bln purchase of BG By Ron Bousso and Stephen Eisenhammer (Reuters) – Brazil gave the green light to oil major Royal Dutch Shell to buy smaller rival BG, advancing the $70 billion merger — the largest of the past decade — closer to completion in early 2016. Shell is set to […]

Putin to blame for MH17 shootdown, but Dutch oil interests (SHELL) will thwart any prosecution

“The Dutch have a company that everybody knows, called Royal Dutch Shell, and Russia has some projects that Shell could make lots of money from,” Koshiw says. Royal Dutch Shell is teaming up with Russian Gazprom on several projects despite Western sanction on Russia, and at the beginning of 2015 they signed a memorandum to build […]

Not Deterred By Huge Risks, Shell Opts For Megaprojects

It is curious then that Royal Dutch Shell is not ready to give up on the huge complex oil project. It is only a few weeks away from starting to drill in the Chukchi Sea, a campaign that has cost the company somewhere in the neighborhood of $7 billion so far, with very little results […]

In the Race to Control the Arctic, the U.S. Lags Behind

BY BOB REISS 7/6/15 It was just after Christmas 2012, and the Kulluk, a 250-foot-high, floating oil-drill rig, swung like a metronome in gale-force winds blowing through the Gulf of Alaska. The tug that had been towing the rig bobbed helplessly in 50-foot waves, her four diesel engines flooded with seawater as the rig’s skeleton […]

World’s Largest Turret Mooring Ready for Prelude

By Wendy Laursen 2015-07-05  Drydocks World has marked a major milestone by completing the world’s largest turret mooring system. At almost 100 meters high, weighing over 11,000 tons and with a diameter of 26 meters, the turret will ensure Shell’s Prelude floating liquefied natural gas (FLNG) facility can operate safely in the most extreme weather […]

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 […]

EPA turns down oral hearing request on Corrib gas project licence

EPA turns down oral hearing request on Corrib gas project licence Lorna Siggins: Friday, 3 July 2015 The Environmental Protection Agency (EPA) has turned down requests for an oral hearing into a revised licence sought by Shell E&P Ireland for the Corrib gas project in north Mayo. The revised licence covering atmospheric and marine emissions […]

Shell awards contracts for its $40bn Browse project

Written by Rita Brown – 03/07/2015 Shell has awarded the Technip Samsung Consortium two contracts for its $40billion natural gas project in Australia. Shell’s Browse project covers the installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin. Shell, which has a 27% interest in the scheme, will […]

The lessons for all from the Corrib Gas project in North Mayo

The lessons for all from the Corrib Gas project in North Mayo Major infrastructure that is years behind schedule and massively over budget Wednesday, 1 July 2015 The Corrib Gas project represents a cautionary example of how large industrial developments should not be handled by governments or multinational companies. A lack of consultation and sensitivity […]

Irish Company Freely Admits Distributing Bribes On Behalf of Shell

PHOTO CAPTION FROM RECENT IRISH TIMES ARTICLE: Bríd McGarry, a Mayo landowner, and Mary Corduff, wife of jailed farmer Willie Corduff, after five Mayo farmers were jailed in 2005 for refusing to give an undertaking not to obstruct the construction of the Corrib gas pipe line. Photograph: Alan Betson/The Irish Times Printed below is a […]

Shell says could begin Arctic oil exploration off Alaska in late July

Shell says could begin Arctic oil exploration off Alaska in late July SEATTLE/WASHINGTON | BY ERIC M. JOHNSON AND TIMOTHY GARDNER: Mon Jun 29, 2015 Royal Dutch Shell could begin drilling for oil in the Arctic off Alaska as early as the third week in July, when it expects sea ice to begin clearing, a […]

Corrib gas cost overruns deprive State of €600m in tax

Corrib gas cost overruns deprive State of €600m in tax The €2.4 billion cost overrun is largely as a consequence of opposition to the project, which was stimulated in part by poor management of it at its outset. Peter Murtagh: Tuesday 30 June 2015 The huge cost overrun on Corrib gas, the single most expensive […]

Royal Dutch Shell Seeks Funding For Carbon Capture Project

By: MICHEAL KAUFMAN: Jun 29, 2015  Global warming concerns have been receiving more and more media attention, as major oil companies also plan to address the issue, considering its potentially adverse effect on the environment. Goldeneye, an abandoned offshore natural gas production platform that is connected to the Scottish coast via a 100 kilometer long pipeline, […]

UK fracking application rejected

An application to start fracking at a site on the Fylde coast in Lancashire has been rejected by councillors. Energy firm Cuadrilla wanted to extract shale gas at the Little Plumpton site between Preston and Blackpool. Lancashire County Council rejected the bid on the grounds of “unacceptable noise impact” and the “adverse urbanising effect on […]