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SHELL NEWS UPDATE TUESDAY 4 APRIL 2017

Shell Confirms More Than 200 Workers to be Cut from Norwegian Operations: RIGZONE

Royal Dutch Shell plc has confirmed that more than 200 workers will be cut from its Norwegian operations.

Petronas May Consider Shell Site for Canadian LNG Project: BLOOMBERG

Malaysia’s Petroliam Nasional Bhd may be looking at building a $27 billion liquefied natural gas export terminal in northwestern Canada on the site of an abandoned Royal Dutch Shell Plc energy project, according to the company’s chief executive officer.

Despite cuts to jobs, spending, oil giants fail to cover costs: AUSTRALIAN BUSINESS REVIEW

The world’s biggest oil companies are struggling just to break even. Despite billions of dollars in spending cuts and a modest oil price rebound, ExxonMobil, Royal Dutch Shell, Chevron and BP didn’t make enough money last year to cover costs, according to a Wall Street Journal analysis.

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Shell News Monday 3 April 2017

Shell withdraws from Kakinada gas project: Business Standard

European oil and gas company Royal Dutch Shell has decided to discontinue its earlier proposal for a floating liquefied natural gas (LNG) import terminal off the Kakinada coast in Andhra Pradesh. The company said ample research had showed lack of adequate demand for liquid gas. “We have put a pause on that project. We worked closely with our partners and engineers and took it to the point where our engineering work was done and we were ready to go. We looked around (but) there was not enough demand. We cannot just spend hundreds of millions and do nothing.

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SHELL AND BP LIQUIDATING THEMSELVES

SHELL NEWS UPDATE 30 MARCH 2017

Trump’s climate change executive order won’t change coal’s fortunes, Shell chair says: CNBC

EXTRACT: President Donald Trump‘s effort to roll back Obama-era climate change policies will not do much to improve demand for coal at America’s power plants, Royal Dutch Shell Chairman Chad Holliday said Thursday.

FT: Shell’s top oil trader defends North Sea Brent activity: Seeking Alpha

EXTRACT: Royal Dutch Shell’s (RDS.A, RDS.B) VP of crude oil trading is out with a strong defense against accusations that the company’s activity in the North S
ea crude market has skewed the benchmark Brent contract that underpins global oil prices.

Big Oil Vows to Keep Dividends Up as Prices Falter: Bloomberg.com

EXTRACT: “BP and Royal Dutch Shell have unsustainable dividends,” Neil Woodford, head of investment at Woodford Investment Management Ltd. who manages about $20 billion, wrote in a blog.

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Royal Dutch Shell CEO: Dividends No Longer No.1 Priority

One of our regular contributors has picked up on a priority switch by Shell senior management which may frighten shareholders in Royal Dutch Shell Plc.

During an interview with Michelle Fox of CNBC earlier today, Ben van Beurden the Chief Executive Officer of the company said: In terms of debt paydown and covering of dividends two important priorities – Debt No 1, Dividend No 2. 

Michelle Fox asks… When you say Dividend is number two does this mean you could change the level going forward?  Mr Van Beurden made reassuring noises about the dividend but noticeably did not backtrack on his relegation of dividend payment levels to being a secondary priority

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Ben van Beurden admits earnings figures do not “look good” for investors

Royal Dutch Shell Plc has today announced its disappointing fourth-quarter figures. The Company turned in one of its worst performances in more than a decade.”

The Telegraph says that the company has dashed investor hopes for a resurgence in profits. It reports that “for the year as a whole Shell deepened its losses in its exploration and production business from $2.2bn to $2.7bn”.

CNBC says that Ben van Beurden, CEO of Royal Dutch Shell Plc has conceded that the earnings figures do not “look good” for investors. Their article headline says: Shell posts earnings of $3.5 billion in 2016; an 8% slide from $3.8 billion in 2015

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Oil stocks surge, BP and Shell both climb on back of OPEC pact

Written by Reporter – 12/12/2016 1:20 pm

Oil stocks topped the FTSE 100 on Monday after non-Opec producers agreed to curb production to help buoy floundering crude prices.

The UK’s blue chip index was down 0.1% at around 6946.53 points, but Royal Dutch Shell’s ’B’ shares rose 3% and BP jumped 2.4%.

Away from the top tier, Tullow Oil soared 9.6% and Premier Oil surged 9.9%.

Sterling was flat against the dollar at 1.256, but down 0.3% against the euro at 1.187.

Brent crude prices climbed more than 5% to around 57.03 US dollars per barrel (£45.33) in early trading, marking its highest level since July 2015.

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Shell Makes Cuts to Boost Returns

Allen Good7 December, 2016

With the BG acquisition in the books, Shell (RDSB) is embarking on the necessary steps to compete in a world of $60 a barrel oil.

Like the rest of the integrated group, Shell is working to reduce its cost base, which has become bloated during the past five years, by reducing headcount and improving its supply chain.

The integration of BG is integral to Shell’s efforts, as it holds the potential for $4.5 billion of cost-reduction synergies. Furthermore, the addition of BG’s low-cost production reduces Shell’s per-barrel operating cost, which ranked among the highest in its peer group. In total, Shell aims to reduce operating cost by 20% from 2014 levels by the end of 2016, with further reductions possible in later years.

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screen-shot-2016-12-05-at-16-34-00 By The Motley Fool  Dec 5, 2016

Today I’m looking at the critical reasons to sell out of Royal Dutch Shell (LSE: RDSB).

A drop in the ocean

The oil sector’s major players breathed a huge sigh of relief last week after OPEC — responsible for four-tenths of the world’s oil supply — confounded the expectations of many and agreed to cut its output.

Saudi Arabia brokered a deal that will see production fall by 1.2m barrels per day, to 32.5m barrels beginning in January. The news prompted Brent oil to top the $55 per barrel marker for the first time since the summer of 2016.

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Shell is ‘ripe to deliver’ and 2017 is an inflection year – broker

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Jamie Ashcroft: 01 Dec 2016

Royal Dutch Shell Plc’s (LON:RDSB) portfolio is ‘ripe to deliver’, according to JP Morgan, which rates the stock as ‘overweight’ and sees 2017 as an inflection year for the oil supermajor.

JP Morgan analyst Christyan Malek says investors should buy ahead of further capex cuts and free cash flow uplift.

In a note Malek said: “the recent Brazil field trip left us incrementally positive on scope to cut capex further in 2017-18 as economies of scale on cost improve and internal efficiencies take effect.

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Shell jobs axed as report warns on future for oil market

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Wednesday 16 November 2016

Shell is to axe its Glasgow operation with the loss of 380 jobs as a new report warns of a “boom/bust” cycle in the oil industry.

The cuts are in response to the low oil price – which is already hurting the Scottish economy amid thousands of job cuts in North Sea production.

Shell said the decision to close its finance operation in Glasgow, which will take place by 2018, came about as it was taking “difficult choices” in order to remain competitive.

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Trump’s victory could hurt Royal Dutch Shell plc’s future

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By The Motley Fool  Nov 14, 2016

Donald Trump’s views on climate change may provide a boost to oil production in the US. He stated in his campaign that the US was being disadvantaged by rules and regulations aimed to prevent (or at least slow down) climate change. This could signal a more positive attitude from the US government towards oil and gas companies over the medium term.

Although there’s no certainty that Trump will follow through on his campaign policies when he becomes President, it seems likely that he’ll be less positive about battling the effects of climate change than Barack Obama. This could be bad news for Shell(LSE: RDSB).

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