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Shell to Sea activist Maura Harrington arrested in Mayo

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Friday 6 May 2016

SHELL TO SEA campaigner Maura Harrington has been arrested in Mayo and taken to Mountjoy Prison to serve time for an unpaid fine.

It is understood she was arrested this afternoon as she left a bank in Belmullet. She was taken to Belmullet garda station and then transported to the Dóchas Centre women’s prison at Mountjoy, where she is expected to spend ten days.

The activist was convicted last year in relation to the obstruction of a tunnel-boring machine at the Shell plant in Ballinaboy. A monetary penalty of €300 was imposed as part of her sentence, but she has refused to pay it.

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Not-so-Big Oil

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May 7th 2016

IT HAS been a grim decade for investors in international oil firms—among them, many of the world’s biggest pension funds. Even before oil prices started to fall in 2014, the supermajors threw money away on grandiose schemes: drilling in the Arctic and building giant gas terminals. Their returns have trailed those of other industry-leading firms by a huge margin since 2009.

In the past 18 months things have gone from bad to worse. The Boston Consulting Group, a consultancy, calls it the industry’s “worst peacetime crisis”. That is evident in first-quarter results released in the past week by Exxon Mobil and Chevron of America, and European rivals, Royal Dutch Shell, BP and Total, which bear the scars of a collapse in oil prices to below $30 a barrel in mid-February (see chart).

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Royal Dutch Shell Plc casts fresh doubt on B.C. LNG project due to funding

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Yadullah Hussain | May 5, 2016 6:37 PM ET

Royal Dutch Shell Plc. has cast doubts its liquefied natural gas export project in British Columbia will secure a final investment decision (FID) by the end of this year, further dashing the province ’s hopes of shipping LNG by 2020.

Shell’s LNG Canada in Kitimat is competing for funding dollars with two other company LNG projects, both in the United States, as well as with a chemicals plant in Pennsylvania, within the next 12 months, chief financial officer Simon Henry told investors during a conference call Wednesday.

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Shell cuts billions from spending plans

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Screen Shot 2016-04-20 at 13.50.03Robin Pagnamenta, Energy Editor: May 5 2016

Royal Dutch Shell has accelerated plans to shave billions more dollars from its capital spending this year, as it continues to digest its $54 billion acquisition of BG Group.

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More North Sea job cuts on the cards at Shell

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Screen Shot 2016-05-05 at 10.07.35BY MARK WILLIAMSON: Thursday 5 May 2016

ROYAL Dutch Shell’s finance chief, Simon Henry, has said there could be more job losses in its North Sea business amid the crude price plunge but the company has no plans to move activity from the Glasgow shared service centre where 450 people work.

As the oil and gas giant posted a 58 per cent fall in first quarter profits, to $1.6 billion (£1.1bn), Mr Henry said Shell wanted to take more cost out of its UK business despite shedding 500 North Sea jobs since the oil price started tumbling in 2014.

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Shell sees slower roll-out of floating LNG

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Mr Henry said Prelude “remains on track to deliver some material cash flow in 2018,” signalling the venture still has some way until start-up.

Angela Macdonald-Smith: Energy Reporter:May 5, 2016

Royal Dutch Shell acknowledges the roll-out of its floating LNG technology will occur much more slowly than anticipated a few years ago, leaving its ground-breaking Prelude venture in WA as potentially its sole FLNG venture for several years.

Shell had targeted a conveyor belt of huge FLNG vessels running of the production line in South Korea, being deployed at remote gas fields worldwide, with several in waters around Asia.

But three projects that could have used five new FLNG vessels have been halted in their tracks, leaving the $US12 billion Prelude venture Shell’s only one for the forseeable future. FLNG ventures planned by other companies in Australia have also fallen foul to cost and price issues.

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Shell’s BG Risk Starts to Pay as Output Added, Costs Slashed

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By Rakteem Katakey: May 4, 2016

Royal Dutch Shell Plc’s record $54 billion acquisition of BG Group Plc is starting to pay off as the assets give it higher production and cash flow, helping it beat analysts’ earnings estimates when it reported quarterly results Wednesday. 

While Europe’s biggest oil company benefits from BG’s assets, it’s cutting expenses quickly enough to ensure the takeover isn’t adding any new costs. Shell’s forecasts for capital spending and operating expenses this year are now at the same level they would have been even if it hadn’t bought BG, Chief Financial Officer Simon Henry said. A majority of the 16 percent increase in oil and gas output came from the acquisition.

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Shell finance chief refuses to rule out further North Sea job losses

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Screen Shot 2016-04-25 at 15.56.32Written by Phil Allan – 04/05/2016 12:34 pm

Shell’s finance chief has refused to rule out further job losses in the North Sea as the oil giant announced its earnings had dropped by $4billion dollars in the first quarter of 2016.

Chief financial officer Simon Henry said the voluntary redundancy packaged announced recently announced as a result of Shell’s acquisition of BG Group, may not be the last to affect the North Sea as the company continues to look at cut costs from its global operation.

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Shell cuts spending as profits fall

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The oil firm said it would reduce investment to $30bn from a planned $33bn, after coming under pressure from shareholders to cut costs.

Shell also said profits in the three months to March had fallen to $800m from $4.8bn a year earlier.

Oil prices have fallen sharply over the past 18 months.

On average, in the first three months of 2016 oil prices stood at about $35 a barrel, down from a peak of $115 a barrel in June 2014.

Excluding one-off items, Shell’s preferred measure of profit, earnings fell to $1.6bn from $3.8bn in the quarter.

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Shell profits tumble following BG merger

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By Jillian Ambrose4 MAY 2016 • 8:32AM

Shell posted a sharp fall in profits in its first set of results since merging with global gas giant BG Group, but nevertheless beat expectations against a backdrop of low oil prices.

The oil major reported first quarter profit of $455m, less than half the $942m posted in its results for the last three months of 2015 and a fraction of its $4.5bn for the same period last year.

On a cost of supplies basis, which the oil industry uses to account for fluctuations in the price of oil, Shell made $1.6bn over the first quarter of the year. This was better than analyst expectations of just over $1bn but still well below the $3.7bn in the first quarter of 2015.

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Shell cuts spending further after BG deal

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LONDON | BY RON BOUSSO AND KAROLIN SCHAPS:Wed May 4, 2016

Royal Dutch Shell (RDSa.L) on Wednesday cut its 2016 spending by another 10 percent after completing the $54 billion acquisition of BG Group, warning that low oil prices will continue to weigh.

In its first earnings results since the Feb. 15 deal that transformed it into the world’s top liquefied natural gas producer, Shell reported better-than-expected first-quarter results despite a 58 percent drop in profits.

Reflecting the deal, Shell said it sold 12.29 million tonnes of LNG in the first quarter, up 25 percent year on year. Shell’s overall oil and gas output rose 16 percent.

Shell, however, warned that low oil and gas prices, significant maintenance at production sites as well as “substantial redundancy and restructuring charges” will impact second-quarter earnings.

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Shell says Q1 oil and gas production rises 16 pct

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May 4, 2016

* First quarter 2016 unaudited results

* Cash flow from operating activities for Q1 2016 was $0.7 billion, which included negative working capital movements of $3.9 billion

* Total dividends distributed to shareholders in quarter were $3.7 billion, of which $1.5 billion were settled by issuing 65.7 million a shares under scrip dividend programme

* Gearing at end of Q1 2016 was 26.1% versus 12.4% at end of q1 2015

* Q1 2016 basic CCS earnings per share excluding identified items decreased by 63% versus Q1 2015.

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Shell Q1 earnings slump to $800m

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Royal Dutch Shell (LON:RDSA) has updated investors on its first-quarter performance this morning, unveiling a hefty drop in earnings, with the oil price rout weighing on the company’s results.

Highlights from Shell’s statement:

Following completion of the acquisition on February 15, 2016, BG Group plc (“BG”) has been consolidated within Royal Dutch Shell’s results. For all practical purposes, this includes February and March 2016, as the impact for the first half of February is deemed immaterial.

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Issues relating to Shell’s acquisition of BG Group Plc

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By John Donovan

Extract from an email received from a knowledgeable source who wishes to remain anonymous:

…your subscribers might be interested in the following:

The cost of Phase I in BG’s QGC LNG project was approximately £20bn. BG borrowed approximately 65% of this money by issuing Corporate Bonds to a level somewhere between £12Bn and £14Bn to fund this. Shell acquired this debt when it bought BG Group.

BG’s Western Delta Deep Marine gas fields in the western Nile Delta produce approximately 20,000BBL/Day of contaminated water. When the fields were operated by BG this water was driven by road tanker and dumped somewhere in the desert. Have Shell done anything to address this environmental issue?

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Shell’s blockbuster BG bid backfires as gas prices deflate

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Danny Fortson:    Published 1 May 2016

Nearly 300 staff gathered in the canteen of BG Group’s sprawling headquarters in Reading on Monday morning to hear what they had long been expecting: nearly all of them were being laid off or being forced to apply for new jobs.

Shell closed its blockbuster takeover of the gas giant in February. Huibert Vigeveno, a rising star within Shell charged with integrating the companies, announced that after an “office footprint review”, BG’s headquarters would shut.

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Profit fall leaves Shell struggling to justify BG deal

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Danny Fortson Published: 1 May 2016

Royal Dutch Shell is set to unveil a steep fall in profits this week, laying bare the challenge for chief executive Ben van Beurden to justify his £35bn takeover of rival BG.

Shell completed the blockbuster deal in February after investors voted it through. Despite counting six weeks of BG’s earnings, analysts expect Europe’s largest oil company to have earned just $1bn (£680m) in profits for the quarter. That compares with a surplus of $3.2bn for the same period a year ago.

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Gazprom and Shell address ongoing and future cooperation

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Screen Shot 2016-04-29 at 21.31.46Friday, Apr 29, 2016

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Shell, took place in St. Petersburg today.

The parties addressed the prospects for collaboration between the companies under the Agreement of Strategic Cooperation. An emphasis was placed on a potential asset swap.

The meeting also reviewed the ongoing front-end engineering design (FEED) process for the third production train of the LNG plant within the Sakhalin II project.

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FT Energy Source: Saudi Reform

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By Ed Crooks: April 29, 2016

When Saudi Arabia’s oil minister raises an eyebrow, the world pays attention. So when the kingdom launched a hugely ambitious economic reform programme this week, it naturally attracted enormous interest.

The FT in an editorial praised what it described as “a bold bid to transform Saudi Arabia’s economy”, but highlighted the challenges Deputy Crown Prince Mohammed bin Salman would face in making his vision a reality. Simeon Kerr and Anjli Raval described the plans as “highly ambitious – some would say unrealistic”.

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Shell To Hire 1,000 Professionals This Year At Bengaluru Centre

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by Ayushman Baruah: 28 April 2016

At a time when global oil prices are falling and the energy sector is going through macro-economic challenges, global oil & gas company Shell on Wednesday (27 April) announced the launch of its information technology (IT) centre in Bengaluru. The centre is expected to recruit close to 1,000 professionals by the end of 2016 and several thousand by 2020.

About 900 offers have already been made for the IT centre. Shell’s total headcount in India stands at 4,300 employees spread across its Projects & Technology and IT Centres based in Bengaluru, as well as their Business Operations Centre in Chennai.

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Samsung Heavy loses $4.6-billion FLNG order from Shell on oil drop

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Screen Shot 2016-04-20 at 13.50.03By KYUNGHEE PARK on 4/28/2016

SUNGNAM, South Korea (Bloomberg) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder, said an order to build three floating LNG production facilities was canceled after the energy development project was scrapped amid a plunge in oil prices.

The contract, valued at 5.27 trillion won ($4.6 billion), from Royal Dutch Shell was voided because of the current difficult market conditions, the Sungnam, South Korea-based company said in a regulatory filing Thursday. The shipbuilder won the deal in June on the condition that the project will start only after the client is ready to proceed.

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Shell cancels huge $4.6bn FLNG order at Samsung

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Shell starts jobs consultation with Australian employees

Screen Shot 2016-04-28 at 11.33.5828 April 2016

Oil major Shell said it has begun discussions with staff in Australia about job losses as part of plans to cut 10,000 roles globally.

The company previously announced the move following the merger with BG Group announced last year.

A spokesman for the company said: “Shell last week commenced conversations with employees about business efficiency and staffing levels – as a result of combining it with the previously BG-owned OGC – a process that will lead to job reductions.”

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Shell starts staff cut discussions with employees in Australia

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Business | Wed Apr 27, 2016 

Shell (RDSa.L) has started discussions with employees in Australia about job reductions, the company said on Wednesday, as part of plans to cut 10,300 jobs worldwide to lower costs.

“Shell last week commenced conversations with employees about business efficiency and staffing levels – as a result of combining it with the previously BG-owned QGC – a process that will lead to job reductions,” a spokesman said.

Shell is in the process of integrating assets it acquired as part of its $50 billion (£34.2 billion) takeover of gas producer BG Group, including BG’s Australian subsidiary QGC.

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Shell to axe jobs as cost-cuts hit home

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Shell last week informed local staff that it was starting a round of job cuts, with a large portion of workers within the company asked to re-apply for their current positions.

While no fixed target has been set, it is estimated that about 250 jobs around Australia are likely to go as a result of the changes.

The round of job cuts follows Shell’s recent takeover last year of BG Group. The redundancies will remove many of the overlapping roles inherited through the takeover.

Shell had already flagged that it would axe about 2800 jobs worldwide as a result of the BG takeover, as well as a further 7000 around the globe as part of its response to the plunge in oil and gas prices.

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Shell shuts down three offices and asks the 1,600 staff involved to move or consider voluntary redundancy

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Oil giant warned last year that merger with BG would hit workers hard 

Staff in Reading and Manchester have option move to London head office 

Plans to put all London and South East operations into central London 

Screen Shot 2016-04-25 at 15.56.32By MARK SHAPLAND FOR THIS IS MONEY25 April 2016

Oil giant Shell is pushing ahead with plans to cut jobs and close three offices following its billion dollar takeover of rival BG Group earlier this year.

The cost-cutting drive will trigger the closure of the former BG Group headquarters in Reading and company offices in Aberdeen and Manchester.

The 1,600 staff employed at the sites who do not want to relocate will be offered voluntary redundancy.  

The firm warned last year that the impact of its mega-merger with BG Group would hit workers hard. 

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Shell announces major office changes after BG takeover

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The company is cutting more than 10,000 jobs across the world, with 2,800 of those connected with the BG deal.

Shell plans to close the Thames Valley Park campus by the end of the year.

All Aberdeen-based onshore operations will move to Tullos, with BG’s offices at Albyn Place closing, as will Shell’s Brabazon House office in Manchester.

Shell said the decisions were subject to the outcome of staff consultation.

The company is also planning to open a voluntary redundancy arrangement at Thames Valley Park.

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Shell to close BG office in Aberdeen this year with job cuts expected

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Shell to close BG office in Aberdeen this year with job cuts expected

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ROYAL Dutch Shell has announced plans to close the BG North Sea head office in Aberdeen where around 300 people work in a move which is expected to lead to further job cuts in the city.

The Anglo Dutch oil giant will run the enlarged North Sea Business formed by the £35bn takeover of BG from its office in the Tullos area of Aberdeen.

Led by chief executive Ben van Beurden, Shell said all 300 BG staff will relocate to Tullos initially. They will be able to apply for redundancy under a voluntary severance programme which is expected to result in an undisclosed number of jobs being cut.

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Investors look beyond Big Oil’s worst quarter yet

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LONDON | BY KAROLIN SCHAPS AND RON BOUSSO: Sun Apr 24, 2016

The world’s top oil companies are set to report their worst quarterly results yet in the current downturn but a recent recovery in crude prices is raising hopes the market has bottomed out.

An ever intensifying oil supply glut took global prices to a near 13-year low of $27.10 a barrel on Jan. 20, exacerbating pressure on oil producers already grappling with a more than 70 percent slide in prices since mid-2014.

“The 1Q16 reporting period looks set to be even worse than what we thought was already an especially ugly 4Q15,” said Jason Gammel, equity analyst at Jefferies.

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Shell defies order to halt production at Nigeria facility – officials

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YENAGOA, NIGERIA | BY TIFE OWOLABI: Wed Apr 20, 2016

Royal Dutch Shell has failed to halt production at the Gbaran Ubie oil and gas facility in southern Nigeria, contravening a court order for the site to be sealed and raising the prospect of legal action, state government officials said on Wednesday.

A Reuters reporter spoke to workers at the plant who also said production had continued.

A Shell (RDSa.L) spokesman declined to comment.

The facility, in the oil-rich southern Niger Delta region, supplies the Bonny liquefied natural gas (LNG) export terminal and also helps generate electricity, which is scarce in Africa’s top oil producer and most populous nation.

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Update from NAM on Shell/Exxon induced Dutch Earthquakes

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By John Donovan: 19 April 2016

Printed below in italics is a Google translation of information published in Dutch today by NAM, the Shell/Exxon Joint Venture company.

It is about the earthquakes inadvertently generated by NAM gas production activity in and around the Groningen Gas field in the Netherlands.

The damage arising from the earthquakes, which are expected to increase in intensity, will cost untold billions to deal with.

Maintaining current production level of 27 billion m3

On April 19th NAM published its proposal for future gas production from the Groningen gas field. It is the first step in a stepwise decision-making process that should lead before October 1, 2016 to a final government decision on gas production from the Groningen gas field. Given the complexity and societal concern about the earthquake record, the Minister of Economic Affairs has decided on extensive consultation with authorities, experts and residents for gas production decision.

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Exclusive: How ChemChina tried to gatecrash Shell’s BG mega-deal

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Screen Shot 2016-03-15 at 10.28.52LONDON | BY DMITRY ZHDANNIKOV, FREYA BERRY AND RON BOUSSO: Business | Tue Apr 19, 2016

Chemical giant ChemChina approached BG Group with a possible bid late last year, just as Royal Dutch Shell was preparing to close a $52 billion deal to buy the British energy company, seven banking and industry sources with knowledge of the matter said.

Working with investment bank HSBC (HSBA.L), China’s most acquisitive company of the past year flew a delegation to Britain in December and approached BG Chairman Andrew Gould with plans for a full cash bid, two sources close to ChemChina said.

Shell and HSBC declined to comment. ChemChina did not immediately respond to requests for comment. Reuters could not reach Gould for comment.

That trip was eight months after Shell announced the energy sector’s largest deal in a decade and just weeks before the BG purchase received final anti-trust and shareholder clearances.

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Nick Goodway: Why do we pay Shell to extract our oil assets?

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By Nick Goodway: 19 April 2016

My eye was caught yesterday by a document from Royal Dutch Shell snappily entitled Report on Payments to Governments for 2015. (I know, I don’t lead a very exciting life.) This is one of the myriad new reports that corporates are forced to release each year in the interests of greater transparency and good governance.

But for once, alongside the hundreds of such reports I have binned, there was some interesting stuff here. In short, the report details how much Shell paid to each government in the countries in which it operates in terms of their share of production, royalties, taxes and fees.

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Shell moving some jobs from New Orleans to Houston

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By Jennifer Larino, NOLA.com | The Times-Picayune: 18 APRIL 2016

Shell will relocate some jobs from New Orleans to Houston as it moves forward with plans to cut its global workforce by 10,000 employees and contractors. The company started cutting jobs last year in response to low oil prices.

Details are sparse on how the global cuts affect the roughly 1,900 workers based in One Shell Square in downtown New Orleans. Shell says it does not provide layoff counts by region. Workers close to the situation have reported that jobs may be moving to Houston in addition to cuts. They asked not to be named to protect their jobs.

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Nigeria seals Shell’s Gbaran Ubie oil and gas facility on court order -statement

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Mon Apr 18, 2016 8:15pm GMT

YENAGOA, Nigeria, April 18 (Reuters) – A Nigerian state government has sealed the Gbaran Ubie oil and gas production facility owned by Royal Dutch Shell on court orders, it said in a statement on Monday.

“The Gbaran Ubie facility was developed by Shell… in Bayelsa State without a development permit,” the government, based in the Niger Delta, said.

(Reporting by Tife Owolabi; Writing by Ulf Laessing; editing by John Stonestreet)

© Thomson Reuters 2016 All rights reserved

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NIGERIA: MAJOR GAS FACILITY WON’T BE REPAIRED UNTIL MAY

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Screen Shot 2016-03-15 at 10.34.57BY CONOR GAFFEY ON 4/18/16 AT 12:32 PM

Power outages in Nigeria are likely to persist until May as oil and gas giant Shell struggles to repair a major facility damaged by militants.

Nigeria’s Vice President Yemi Osinbajo visited the Forcados Export Terminal in the southern Delta state over the weekend. The facility, which is run by a subsidiary of Royal Dutch Shell, known as the Shell Petroleum Development Corporation, was subject to an attack in February when an underwater pipeline was hit by an explosion.

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Project Prelude – A case study in the generation of real material debt

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Comment By Bill Campbell (Retired HSE Group Auditor Royal Dutch Shell International) on the article published in The Australian: “Shell chief Ben van Beurden backs FLNG program

Interesting use of terminology by BvB, real material cash, what other type is there rather than funny money.

Prelude dumped from super star gamechanger status to important tool, an aspirin rather than a panacea for all ills, has certainly generated, and it appears will continue to generate, something of a debt mountain for RDS. $15 billion and counting has been allocated to finance the venture outflowing since at least 2007/8 at commencement of conceptual and then detailed design. I may be wrong, but I thought the production start date was given at the time when the first metal was cut in the yards in 2010, as 2016 – now it will be a least 10 years till 2018 before the project will start generating revenue. Our esteemed contributor London Lad, who knows a thing or three about project economics, will confirm, if he feels so inclined, that the breakeven point in any project is determined by how quickly capital spending is halted and operational revenue creation is started. The viability of the project per se, as to whether it will ever add value or be a financial millstone, is determined when production eventually starts by the rate of return of the capital invested, and here BvB hopes for real material cash, and lots of it, and hopefully by 2018 the cash will start to flow. Anybody guess how long it will take for this Project to breakeven?

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Eyes on Doha

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By Ed Crooks: April 15, 2016

All eyes in the oil market this weekend will be on Sunday’s meeting in Doha, which will bring together leading producers including Russia and most – although perhaps not all – of the members of Opec. Expectations that the countries will agree to freeze production, encouraged this week by statements from Russian and Iraqi representatives, have helped drive Brent crude prices up more than 60 per cent from about $27 per barrel in January to around $44 today.  The heads of some of the world’s largest trading houses have concluded that for oil producers, the worst is probably now over.

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Shell’s UK boss says it will strike ‘innovative deals’ for its North Sea assets

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Written by Erikka Askeland – 15/04/2016 7:54 am

Oil giant Shell is running the rule over the potential sale of north Sea assets – but it is too early since its mega-merger with rival BG Group to have decided on a sale process.

But Paul Goodfellow, Shell’s upstream vice-president for the UK and Ireland, said the company may be looking at “innovative deals” like the sale of its Anasuria field.

Last year, Shell and its joint venture partner ExxonMobil struck a deal to sell its Anasuria cluster in the Central North Sea to a duo of Malaysia-based oil companies, Hibiscus Petroleum and Ping Petroleum, for close to £70million.

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Buhari urged to stop work on Egina FPSO

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A Lawyer, John Owubokiri, has urged President Muhammadu Buhari to order contractors handling the construction of the Total’s Egina floating production, storage and offloading (FPSO) vessel to stop work on the platform until all the legal issues are resolved.

Owubokiri, who is a principal partner, Owubokiri & Co, said Buhari recognises the rule of law and due process, therefore, flagrant disrespect of the law by the owners of the Egina project should be dealt with to deter future occurrence.

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Shell Australia chairman Smith urges LNG industry to drop ego and collaborate

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Angela Macdonald-SmithEnergy Reporter: 15 April 2016

Shell Australia chairman Andrew Smith is set to call on LNG industry leaders to drop their egos and get serious about collaboration to reduce costs, deliver better returns and improve competitiveness.

“We must put collaboration ahead of our industry’s natural desire to immortalise our own activities in concrete and steel,” Mr Smith will tell the LNG18 conference in Perth on Friday.

“Australia’s LNG industry will deliver greater economic value and better international competitiveness when we get better at the sharing of infrastructure on commercial terms.”

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Shell’s UK boss says North Sea oil is prize worth fighting for

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Written by Phil Allan – 14/04/2016

The head of Shell’s UK upstream operation said the North Sea oil industry is a “prize worth fighting for” in the years to come, but said more still needs to be done to ensure the long-term future of the sector.

Paul Goodfellow said many positive steps have been taken but industry, the Oil and Gas Authority and Westminster and Holyrood governments needs to continue to work together to transform the basin into highly competitive province.

Goodfellow said: “There’s too much at stake not to make this work.”

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Musings about the OPL 245 Shell/ENI corruption scandal and the sinking confidence in Prelude

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I would have thought that Simon Henry’s position as CFO should now be untenable, in view of the apparent lack of effective financial governance in Nigeria while he was CFO. 

By John Donovan

A large number of press articles have appeared recently mentioning Ben van Beurden. 

Since these articles are presumably fed to the press by Shell’s PR team, and Shell is not a one-man company, I checked to see whether other Shell directors have appeared recently in press releases.

The results are somewhat curious. For example, searching for Matthias Bichsel on Google News shows that articles were published about him at least weekly until October last year, but the articles then stopped abruptly. References to Simon Henry seem to have dried up a few weeks ago – until mid-March there were articles on Henry on an almost daily basis, but recently there has been nothing. Harry Brekelmans seems to have had a low profile since his appointment, so it is harder to see whether any change has occurred. Andy Brown has almost as many press articles as Ben van Beurden. 

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Enthusiasm cools for Prelude FLNG

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Chief executive Ben van Beurden said Prelude, Shell’s first attempt at FLNG, should generate “real material cash” in 2018.

But he steered clear of disclosing the construction progress and when the floater would leave its South Korean shipyard for the Browse Basin.

The gas world is watching Prelude’s progress, not least the Woodside Petroleum-led Browse joint venture (which includes Shell) which wants to use FLNG as the development option but is pondering technological advances beyond what Prelude is designed to achieve.

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Shell chief Ben van Beurden backs FLNG program

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  • THE AUSTRALIAN
  • APRIL 13, 2016 12:00AM

Matt ChambersResources reporter: Melbourne

Paul GarveyResources reporter: Perth

Shell chief Ben van Beurden has defended the company’s floating LNG program after the shelving of the Browse LNG project in ­Western Australia and calls from joint-venture partner Woodside Petroleum for Shell to use more advanced FLNG technology to ­reduce costs at the giant gasfields.

Shell is pioneering the use of floating LNG (FLNG) through the $US15 billion ($19.6bn) Prelude project, where the world’s largest vessel is being built to process gas from the Prelude field in the Browse basin.

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Shell CEO says may sell some North Sea assets to improve portfolio

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PERTH | BY SONALI PAUL: Tue Apr 12, 2016

Royal Dutch Shell could sell some of its older, lower grade North Sea assets to improve the quality of its portfolio, CEO Ben van Beurden said on Tuesday, part of a two-year program to help finance its purchase of gas major BG Group.

After completing the $52 billion acquisition of BG in February, Shell said it would sell $30 billion in assets between 2016 and 2018 to help finance the deal and to maintain its dividend following a sharp drop in oil prices since mid-2014.

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Angela Macdonald-Smith: Energy Reporter

Shell’s global chief executive Ben van Beurden has pointed to a “broad industrial logic” for the Gladstone liquefied natural gas ventures to find ways to work together more closely, signalling a potential restructuring ahead as the oil major seeks to commercialise its Arrow gas resource.

Mr van Beurden said Shell, which recently acquired the Queensland Curtis LNG project as part of its $70 billion takeover of BG Group, was “absolutely convinced” the group would find a way of developing Arrow gas, which is jointly owned by PetroChina.

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Shell to Chevron Awaiting Demand From LNG Market in `Pause Mode’

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James PatonRebecca Keenan and Dan Murtaugh: April 12, 2016

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The over-supplied LNG market is in hiatus as energy giants from Chevron Corp. to Royal Dutch Shell Plc and Woodside Petroleum Corp. await a surge of demand from countries seeking access to energy.

Liquefied natural gas producers are in “pause mode” as low prices have stalled development of new projects, Woodside Chief Executive Officer Peter Coleman said today at the LNG18 conference in Perth. That respite means that coming years demand will exceed supply, causing prices to rise back to higher levels, Shell CEO Ben Van Beurden said.

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Gas industry needs to work harder, innovate: Shell boss

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Screen Shot 2016-03-15 at 10.34.57Peter Klinger – The West Australian on April 12, 2016

Royal Dutch Shell chief executive Ben van Beurden will call for his industry to work harder at cutting costs to make sure the gas sector remains competitive with coal and the fast-growing renewable energy space.

Mr van Beurden, one of the biggest names to address the LNG18 conference in Perth, is expected to tell more than 2000 delegates today his industry needs to constantly innovate, from upstream to downstream activities such as shipping and regasification.

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Delays slow Prelude’s sail-away

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Screen Shot 2016-03-15 at 10.34.57Peter Klinger – The West Australian on April 12, 2016

Royal Dutch Shell’s floating LNG prototype is thought to be two years behind its original schedule, demonstrating the complexity of a new processing module the energy sector hopes will deliver the next generation of liquefaction production.

Prelude’s progress will be a topic of discussion at the LNG18 conference, which kicks off in Perth today and includes sector heavyweights such as Shell chief executive Ben van Beurden.

Shell has never revealed the timetable or budget for Prelude, based on a giant processing vessel built in South Korea to be towed to its namesake gas field off the Kimberley. The latest guidance from Shell is for “material cash in 2018” though that timetable could be challenged.

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Royal Dutch Shell plc: Reasons Behind Moody’s Downgrade

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By Micheal Kaufman on Apr 11, 2016

Moody’s Investor Service reduced Shell’s issuer rating and rating of its guaranteed debt from “Aa1” to “Aa2”, and affirmed company’s Prime-1 commercial paper. Both ratings were under review for a potential downgrade, which was initiated on January, 22, 2016. Since January, the firm expected that the global oil prices will remain weak over the medium term and hinted several downgrades in the upcoming few months.

Shell Finance Netherlands Bv, a subsidiary of Royal Dutch Shell – formed for the sole purpose of issuing debt – also had its issuer rating cut from “Aa1” to “Aa2”. Moreover, Shell’s US-based subsidiary, Shell Oil Company, also got its issuer rating cut from “Aa2” to “Aa3” and has been assigned a Negative outlook.

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