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Shell, to Cut Carbon Output, Will Be Less of an Oil Company

By Nov. 28, 2017

Bowing to pressure from shareholders and the Paris international climate accord, Royal Dutch Shell pledged on Tuesday to increase its investment in renewable fuels and to cut its carbon emissions in half by 2050. Shell and other big oil companies have moved only sporadically over the last decade toward greater production of wind and solar energy. Now there are signs of a commitment to take climate change more seriously. In comments to investors, Ben van Beurden, Shell’s chief executive, said that from 2018 to 2020, the company’s new-energies division would spend up to $2 billion a year on renewable energy sources like wind, solar and hydrogen power and on electric-car charging stations. FULL ARTICLE read more

Shell Updates Company Strategy and Financial Outlook

NEWS PROVIDED BY: Royal Dutch Shell plc

THE HAGUE, Netherlands, November 28, 2017/PRNewswire/ —

  • Scrip dividend programme to be cancelled with effect from the fourth quarter 2017 dividend
  • Annual organic free cash flow outlook increased to $25 to $30 billionby 2020, at $60 per barrel (real terms 2016)
  • Company sets ambition to reduce the net carbon footprint of its energy products in step with societys drive to align with the Paris Agreement goals

Royal Dutch Shell plc (Shell) (NYSE: RDS.A) (NYSE: RDS.B) Chief Executive Officer, Ben van Beurden, today updated investors on the company’s strategy, setting out plans to grow returns and free cash flow, and outlining its ambition to reduce the net carbon footprint of its energy products.

“Our next steps as we re-shape Shell into a world-class investment aim to ensure that our company can continue to thrive, not just in the short and medium term but for many decades to come,” said van Beurden. “These steps build on the foundations of Shell’s strong operational and financial performance, and my confidence in our strategy and our ability to deliver on the promises we make.” read more

Shell investors reap dividends from oil revival

Royal Dutch Shell Malikai superlift at a deep-water project in Malaysia. The global business is in a healthier financial state than it has been recently and intends to resume cash dividends

Royal Dutch Shell is expected to signal its return to paying its entire dividend in cash this week, in the latest evidence of renewed confidence in the oil industry. The Anglo-Dutch group, the biggest listed oil company in Europe, makes a proportion of its payments to investors in the form of new shares rather than cash. READ MORE read more

Police corruption may bring down the Irish government

The Financial Times is reporting that “Ireland is facing a political crisis with opposition parties calling for the head of the deputy prime minister over an escalating policing scandal”. The deputy prime minister is Frances Fitzgerald, a person with whom I have corresponded on the same subject. Police (Gardai) corruption in Ireland. 

The article goes on to say: The prime minister faces a choice between allowing Ms Fitzgerald to be removed or leave, or continuing to support her and risking the collapse of deal with Fianna Fáil that underpins his minority government.

Calls for Fitzgerald’s resignation came after revelations she was aware of Gardai strategy to discredit Garda whistleblower Sgt Maurice McCabe.

“All this time, the Minister for Justice continued to state her full confidence in the Garda Commissioner who was responsible for this attempt to grievously undermine Sgt McCabe. read more

Unwelcome message for Ben van Beurden

Message for Ben van Beurden published today on our Shell Blog. Posted by “Minister for Shell Alcohol”

BVB …I know u visit this site regularly… Michiel Brandjes told me …Visit Sky News on the hour all day today and watch the Minister who covered for the corrupt cops in Mayo bring the government down ….as I told you she would ….apology any time soon …let us clear our name you know the drill ….OSSL

Message ends

Comment by John Donovan

The above message relates to Shell sponsored corruption of the Irish police force in relation to the Corrib Gas project. The Minister referred to in the message is Ms Frances Fitzgerald, T.D. – currently Deputy Prime Minister of Ireland whose actions in relation to corruption in the Irish police looks like they may bring down the whole Irish government. Later today I will publish my correspondence on Irish police corruption with the minister. 

It was at my instigation that the subject was first raised in the Irish Parliament.  read more

Gazprom and Shell Discuss LNG projects and Nord Stream 2

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in St. Petersburg today. read more

Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell

By Tsvetana Paraskova – Nov 22, 2017, 4:00 PM CST

In a bid to reduce gas flaring and pay off outstanding reparations for the 1990 invasion of Kuwait, Iraq has hired Japanese firm Toyo Engineering to help it build a gas pipeline to Kuwait, in what could be a blow to Shell’s gas ambitions in Iraq, industry sources tell Reuters. “Iraq is furious at Shell and prospects don’t look that great for the Basra gas company,” according to an Iraqi industry source. FULL ARTICLE

Bolivia says signs $1.6 bln in gas deals with Repsol, Petrobras, Shell

By Marianna Parraga: NOVEMBER 21, 2017

SANTA CRUZ, Bolivia, Nov 21 (Reuters) – Bolivia’s government on Tuesday signed natural gas development deals with Spain’s Repsol, Brazil’s Petrobras, Royal Dutch Shell and Pan American Energy that are expected to draw $1.6 billion in investment and boost output. The deals cover blocks in the Iniguazu, San Telmo Norte and Astillero gas areas. Repsol, Shell and Pan American Energy will participate in the Iniguazu consortium, while Petrobras will be a partner in the other two. FULL ARTICLE read more

Exclusive: Iraq looks to Kuwait gas pipeline to pay off reparations

FILE PHOTO: A worker walks at Nahr Bin Umar oil field, north of Basra, Iraq December 21, 2015. REUTERS/Essam Al-Sudani/File Photo Rania El Gamal, Osamu Tsukimori, Dmitry Zhdannikov

With Iraq refusing to agree on a gas price with Shell, the project has hit a major impasse, industry sources said. Talks have also been complicated by Shell pulling out of the Majnoon oil fields earlier this year. “Iraq is furious at Shell and prospects don’t look that great for the Basra gas company,” one Iraqi industry source said. FULL ARTICLE

Greg Hands used a meeting with a Brazilian minister to pass on oil companies’ concerns: Rex Features

Brazilian government later gave major drilling licenses to the two companies

Liam Fox’s Department for International Trade successfully lobbied the Brazilian government over environmental regulations on behalf of three major oil companies, an official document has revealed. Greg Hands, the international trade minister, reportedly made representations on behalf of BP, Shell and Premier Oil during a trip to Brazil in March. Details revealed in the cable were apparently released by mistake. Following a freedom of information request, the DIT sent Greenpeace the full cable, with sensitive passages highlighted instead of redacted. It later released a second version with the same passages blacked out. FULL ARTICLE read more

Analysis: Oil giants unlikely to share coal’s fate, for now

Ron Bousso, Simon Jessop, Susanna Twidale: NOVEMBER 17, 2017

The move by the $1 trillion fund, the world’s largest, rattled stock markets, exposing what is seen as one of the biggest threats to companies such as Royal Dutch Shell, Exxon Mobil and BP as the world shifts towards renewable energy such as wind and solar. FULL ARTICLE read more

World’s Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.  

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks. The plan would entail the fund, which controls about 1.5 percent of global stocks, dumping as much as $40 billion of shares in international giants such as Exxon Mobil Corp. and Royal Dutch Shell Plc. The Finance Ministry said it will study the proposal and decide what to do in “fall of 2018” at the earliest. FULL ARTICLE read more

UPDATE 2-Dutch court rejects government’s Groningen gas production plan

Wednesday’s decision was met with jubilation from Groningen citizens, many of whom have seen their houses damaged by the thousands of small earthquakes triggered by the gas extraction.

By Bart H. Meijer: NOVEMBER 15, 2017

THE HAGUE, Nov 15 (Reuters) – The highest Dutch administrative court has rejected the government’s plan to cap production at a major gas field that has caused damaging earthquakes, saying it might be possible to cut output further without endangering supplies.

The decision adds another chapter to the long fight over gas production in the northern Dutch province of Groningen, where citizens accuse the government of endangering their lives while protecting gas revenues. read more

Shell Says Yes To Free Cash Flow, No To Debt

Callum Turcan: Nov 15, 2017

Summary

  • Royal Dutch Shell generates free cash flow in Q3.
  • Outlook for Q4, even in light of impending capex increase, looks bright due to Brent rallying.
  • Over $10 billion in net debt reduction since the end of Q3 2016.
  • Overview of Q3 results and what to expect going forward.

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has come a long way since it bottomed out in early-2016. Its latest earnings reportreinforced the notion that when Brent is trading in the $50s, Shell’s cash flow position becomes balanced. Cash flow neutrality is the key breakeven point for the industry in the current environment, as oil & gas giants need to show that they can cover capital expenditures and large dividends through organic means at realistic prices. Let’s check out how Royal Dutch Shell did in a low $50s Brent world, with an eye on organic cash inflows and outflows. FULL ARTICLE WITH CHARTS read more

Woodside Falls Most in Year After Shell to Sell Stake

Shares falls as much as 3.5% in early Australia trading

Allan Gray Australia says it boosts stake in the LNG producer

Woodside Petroleum Ltd. fell the most in a year after Europe’s biggest oil company, Royal Dutch Shell Plc, said it would offloaded its entire holding in the Australian liquefied natural gas producer for $2.7 billion. Woodside shares fell as much as 3.5 percent in intraday trading on Tuesday to A$31.10 ($23.74), and changed hands at A$31.19 at 11:51 a.m. in Sydney. Shell said it would sell an 8.5 percent stake in Woodside at A$31.10 a share, a 3.5 percent discount to Woodside’s closing price on Monday. The Anglo-Dutch company then expanded that sale overnight to exit its remaining 4.8 percent holding. FULL ARTICLE read more

Why Energy Giants Will Continue to Dominate LNG Market

Trade in the $90 billion market for the superchilled gas is poised to double by 2040: Photographer: Tomohiro Ohsumi/Bloomberg

Total SA’s billion-dollar deal to buy liquefied natural gas assets from Engie SA shows how much size matters in the industry. 

After Royal Dutch Shell Plc’s takeover of BG Group Plc last year, industry consultant Wood Mackenzie Ltd. says the latest accord is evidence that the biggest energy companies with access to large volumes of diverse supplies will continue to dominate, even as commodity traders from Glencore Plc to Trafigura Group Pte are expanding.  read more

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