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Posts under ‘Oil Prices’

Seattle ruling won’t derail Shell’s Arctic quest, executive vows

Seattle ruling won’t derail Shell’s Arctic quest, executive vows Posted on May 5, 2015 | By Jennifer A. Dlouhy HOUSTON — A ruling by the city of Seattle may throw a wrench into Shell’s Arctic drilling plans, but it won’t delay the company’s plans to bore two new wells in the Chukchi Sea this summer, […]

Refining Saves The Day For Exxon and Shell

By Andy Tully: Posted on Sun, 03 May 2015 The low oil prices that have been dogging the energy industry led to dramatically lower quarterly earnings for Royal Dutch Shell and Exxon Mobil, but the two giant companies did better than analysts had expected. Related: Key Signals That Oil Prices Are On The Up Profits for Shell, […]

Shell, Total align trading and refining units to drive profit growth

By Dmitry Zhdannikov and Ron Bousso: 1 May 2015 Shell, Total align trading and refining units to drive profit growth * Shell, Total restructure to combat falling oil prices * Refinery profits also under pressure from competition * Oil firms fighting off challenge from trading houses LONDON, May 1 (Reuters) – Top oil firms Royal […]

Energy earnings run dry in Americas

FT: Energy earnings run dry in Americas By Ed Crooks, Christopher Adams and David Crouch ExxonMobil and ConocoPhillips of the US on Thursday reported that they lost money on oil and gas production in their home country in the first quarter. Meanwhile, Royal Dutch Shell disclosed a $1.1bn loss at its upstream exploration and production […]

Shell cuts 2015 capex, sees downstream downturn

Shell cuts 2015 capex, sees downstream downturn London (Platts)–30 Apr 2015 * Capex reduced by more than $2 billion * Decision on Majnoon development pushed back to 2017 * CFO says refining margins already worsening Shell said Thursday it had reduced its expected 2015 capital expenditure to $33 billion from previous guidance of a little […]

Royal Dutch Shell profits slump as oil price slide puts energy giant on back foot ahead of mega-merger with BG

Earnings dropped steeply from $7.33billion last year to $3.25billion Company hopes oil prices will rise to $90 a barrel by 2018  By MARK SHAPLAND FOR THIS IS MONEY: 30 April 2015 Oil giant Royal Dutch Shell has reported a near 60 per cent slump in first quarter profits after it was hit by the fall […]

Shell’s first-quarter profits plunge 56% to $3.2bn

FT: Shell’s first-quarter profits plunge 56% to $3.2bn 30 April 2015 Christopher Adams, Energy Editor Royal Dutch Shell suffered a near 60 per cent slide in first-quarter profits, hit by plunging crude prices, but beat expectations as a strong contribution from its refining and trading business prevented a steeper fall. FULL FT ARTICLE Like this:Like […]

Royal Dutch Shell Plc CEO Statement

STATEMENT BY ROYAL DUTCH SHELL PLC CEO, BEN VAN BEURDEN: 30 April 2015 “Our results reflect the strength of our integrated business activities, against a backdrop of lower oil prices. Meanwhile, in what is clearly a difficult industry environment, we continue to take steps to further improve competitive performance by redoubling our efforts to drive […]

Shell Posts Rise in Profit Despite Sharp Revenue Decline

The Wall Street Journal: Shell Posts Rise in Profit Despite Sharp Revenue Decline Fall in revenue indicates impact of low oil prices By IAN WALKER and SARAH KENT April 30, 2015 LONDON— Royal Dutch Shell PLC on Thursday reported a 7% rise in first-quarter profit from a year earlier but also posted a steep fall […]

Shell profits beat expectations on refining boost

Shell profits beat expectations on refining boost: Business | Thu Apr 30, 2015 7:26am BST (Reuters) – Royal Dutch Shell on Thursday reported a lower than expected 56 percent drop in first quarter net income at $3.2 billion (2 billion pounds), as refining and trading profits offset a decline in earnings from oil and gas […]

Time, and oil prices, ticking for Shell-BG deal

LONDON | BY DMITRY ZHDANNIKOV, SINEAD CRUISE AND RON BOUSSO: Wed, 29 April 2015 “…its not inconceivable that BG shareholders could start to agitate for a higher bid or indeed a competing bid..” (Reuters) – Rising oil prices are putting Royal Dutch Shell (RDSa.L) under pressure to execute its landmark $70 billion deal to buy […]

US CLASS ACTION LAWSUIT AGAINST SHELL AND OTHERS FOR OIL PRICE FIXING

(NOW UPDATED WITH 98 PAGE DOCUMENT FILED 24 APRIL 2015 WITH THE U.S. COURTS) A 194 page Complaint filed in the US Courts two months ago confirms that investigations are underway by the U.S. Federal Trade Commission, the EU Commission and the UK Serious Fraud Office into an alleged oil price-fixing conspiracy involving Shell, BP, […]

Oil Prices Decline Forces Royal Dutch Shell And Total To Postpone West Africa Offshore Projects

Bidness Etc looks at Royal Dutch Shell and Total SA’s West Africa projects and why the projects are facing delays By: MICHEAL KAUFMAN: Apr 28, 2015 The decline in global oil prices has led to a downturn in the energy industry, with oil companies being forced to take drastic steps to address the situation. One of […]

Shell Faces Pressure to Disclose Priorities

Article by JUSTIN SCHECK published April 28, 2015 by The Wall Street Journal Investors this week will seek answers on cost-cutting, BG deal, Arctic drilling LONDON—When Royal Dutch Shell PLC reports quarterly earnings on Thursday, investors will be hoping for some detail on how the company plans to cut spending to weather today’s low oil prices—and simultaneously […]

UK warns off BP suitors now Shell unavailable as ‘white knight’

LONDON, APRIL 27 | BY DMITRY ZHDANNIKOV AND WILLIAM JAMES UK warns off BP suitors now Shell unavailable as ‘white knight’ (Reuters) – Britain’s warning to potential suitors of BP is a sign of the oil major’s vulnerability to a takeover bid and that a more politically palatable tie-up with Royal Dutch Shell no longer […]

UK government could step in to stop a BP takeover as rumours swirl off possible US interest in wake of Shell deal for BG Group

UK government could step in to stop a BP takeover as rumours swirl off possible US interest in wake of Shell deal for BG Group By LAURA CHESTERS FOR THE DAILY MAIL: 27 APRIL 2015 The British government could step in to protect oil giant BP from any potential takeover amid rumours US groups ExxonMobil […]

BG Deal to Test Shell’s Integration Skills

Article by JUSTIN SCHECK And SARAH KENT published April 26, 2015 by The Wall Street Journal BG Deal to Test Shell’s Integration Skills LONDON—With its $70 billion deal to buy BG Group PLC, Royal Dutch Shell PLC will attempt something altogether new for the 108-year-old energy giant: absorbing a huge company. FULL ARTICLE Like this:Like Loading…

UK government would oppose any takeover of BP says FT

UK government would oppose any takeover of BP -FT (Reuters) – Britain’s outgoing government has told BP Plc that it wants the company to remain a British industrial champion and it would oppose any takeover of the oil producer, the Financial Times reported. The message follows the $70 billion deal to acquire rival producer BG […]

Earnings slide at BP and Royal Dutch Shell as oil giants slash spending

By LAURA CHESTERS FOR THE DAILY MAIL: 27 April 2015 Crude oil prices hit a 2015 high this month but it is not enough to prevent disastrous first quarter results from BP and Royal Dutch Shell this week. The price of oil is still well below last summer’s highs of $115 a barrel at around $65 […]

Shell to suffer profits plunge on oil price collapse

An article by Christopher Williams published 26 April 2015 by The Sunday Telegraph Shell to suffer profits plunge on oil price collapse Dutch earthquake fears also trim gas production Shell is expected to reveal this week that the collapse in the price of oil has wiped off two thirds of its first quarter profits. The […]

Predators circle with BP still stuck in deep water

By Nick Fletcher published Sunday 26 April 2015 by The Observer/Guardian Predators circle with BP still stuck in deep water Meanwhile, BP could also be put on the spot about its commitment to being more open about its impact on climate change, after 98% of shareholders at its recent annual meeting called for more transparency. The company agreed […]

Shell takes hit of £3.2bn amid weak oil price as UK companies’ profit warnings go up

By JON REES, FINANCIAL MAIL ON SUNDAY: 26 April 2015 Shell is expected to report this week that the weak oil price wiped two-thirds off its earnings in the first three months of the year. The Anglo-Dutch oil giant, which has tabled a £46billion cash-and-shares deal to buy British gas explorer BG Group, is poised to […]

Oil firms face further cuts as low prices linger

Oil firms face further cuts as low prices linger Commodities | Fri Apr 24, 2015 12:23pm BST * Big oil using spending cuts to increase efficiency * Q1 earnings set to drop by more than 50 pct, tracking oil price * Strong refining margins set to continue By Ron Bousso LONDON, April 24 (Reuters) – […]

Shell to lay off staff, contractors in Norway

Shell to lay off staff, contractors in Norway Thu Apr 23, 2015 3:29pm GMT OSLO, April 23 (Reuters) – Oil producer Royal Dutch Shell will lay off 120 of its 900 workers in Norway and reduce its contractor force by 140 from 350, as low oil prices force it to cut costs, it said on […]

How The Majors Are Playing The Oil Price Slump

Article by Nick Cunningham published 22 April 2015 by OilPrice.com How The Majors Are Playing The Oil Price Slump The largest oil and gas companies are employing different strategies to weather the downturn and plan for the future. Each strategy has its risks, and not all may work out. Which companies will emerge stronger after […]

Shell, Exxon set the scene for future oil-price shock after $US114 billion cuts

Article by Bradley Olson published 22 April 2015 by The Sydney Morning Herald Shell, Exxon set the scene for future oil-price shock after $US114 billion cuts As the oil patch grows accustomed to a new world of $US50 to $US60 crude, it’s now looking ahead to a different but equally daunting sort of cliff. Oil companies […]

BP, Shell ship Canada crude cargoes from Texas to Europe: ClipperData

(Reuters) – BP Plc and Royal Dutch Shell each have shipped cargoes of Canadian crude oil out of the Texas coast this month, according to industry firm ClipperData, highlighting a once-rare journey that is expected to become more common. The two Aframax tankers loaded from Enterprise Products Partners LP’s export terminal in Freeport, Texas, according to the […]

‘Big Oil’ poring over troubled waters

‘Big Oil’ poring over troubled waters By Mark Robinson, 17 April 2015 The severity of crude oil’s collapse meant that its effects were always likely to be felt far beyond petrol station forecourts. Reduced assumptions on future pricing convinced oil and gas majors, already given over to renewed capital discipline, to also accelerate the reduction in […]

Oil CEO Wages Immune to Price Slump as Shareholders Vote on Pay

Article by Rakteem Katakey published 15 April 2015 by Bloomberg.com Ben van Beurden, Chief Executive Officer of Royal Dutch Shell Plc, pauses as the company announce their fourth-quarter results in London on Jan. 29. Photographer: Chris Ratcliffe/Bloomberg Oil’s plunge has forced the world’s biggest energy producers to lay off workers and stall projects. Their chief executive […]

SHELL TO ACQUIRE BG: IMPLICATIONS FOR THE NORTH SEA

14 April 2015 Shell announced an offer of a £47bn ($70bn) acquisition of BG in the second biggest oil and gas deal on record after Exxon and Mobil’s £51bn ($75.3bn) merger in 1998.  Shell and BG expect to make annual savings of £1.7bn ($2.5bn) and the combined company is estimated to be worth £180bn ($266bn). […]

Chevron A Safer Bet Than Shell

SeekingAlpha.com article published 13 April 2015 Chevron A Safer Bet Than Shell Shell has lost a huge amount of money in its shale bets in North America to the tune of $900 million alone in 2014. As a result, Shell is cutting spending by 20% to lower its North American shale exposure to try and […]

Shell Betting Its Future On LNG

Article By Nick Cunningham published Sun, 12 April 2015 by OilPrice.com Shell Betting Its Future On LNG Could the largest energy deal in over a decade begin a new wave of mergers and acquisitions? Is LNG really the future? How Will ExxonMobil Respond? And perhaps more importantly, does the mega-deal between Royal Dutch Shell (RDS.A) and BG […]

Kashagan to Start Production in 2017, Says Royal Dutch Shell Report

BY MICHELLE WITTE in BUSINESS on 13 APRIL ASTANA – Production at Kazakhstan’s giant Kashagan offshore oil field is expected to restart in 2017, Royal Dutch Shell stated in its 2014 annual report. “After the start of production from the Kashagan field in September 2013, operations had to be stopped in October 2013 due to […]

Oil price down, coffers full: now Big Petroleum is in the mood for mergers

The energy sector looks set for a round of mergers and acquisitions. Illustration: David Simonds for the Observer The world of Big Oil looks set for another round of mega-mergers and acquisitions after Shell set the ball rolling this week with its $70bn agreement to take over BG. FULL ARTICLE Like this:Like Loading…

Shell paid too much to buy BG Group

ARTICLE BY STEPHEN SIMKO, MORNINGSTAR PUBLISHED APR. 11, 2015 BY BUSINESS INSIDER On April 8, Royal Dutch Shell (RDS.A) (RDS.B) (RDSA) (RDSB) announced its intention to acquire BG Group (BRGYY) (BG.) in a $70 billion cash-and-stock deal that values BG’s equity at GBX 1,350 per share, or 11% above our GBX 1,200 fair value estimate for BG at […]

Following the Shell-BG deal, could Exxon bid for BP?

Article by Jim Armitage published by The Independent on Friday 10 April 2015 Following the Shell-BG deal, could Exxon bid for BP? Another day, another tide of speculation sweeps through the City investment banks about oil industry takeovers following Shell’s £47 billion bid for BG, the UK’s third largest energy supplier. Even that old saw […]

Royal Dutch Shell plc Shareholders Express Concern Over Dividends After BG Group Merger

By: MICHEAL KAUFMAN: Published: Apr 10, 2015 at 9:39 am EST A $70 billion merger deal between Royal Dutch Shell plc (ADR) (NYSE:RDS.A) and BG Group plc (ADR) (OTCMKTS: BRGYY) was finalized earlier during the week. Shell had paid a premium of 50% on BG Group’s share price on April 9. Many have commended the efforts […]

Shell May Need $100-per-Barrel Oil to Make BG Deal Work

Article by Tim Mullaney published 9 April 2015 by TheStreet.com Shell May Need $100-per-Barrel Oil to Make BG Deal Work NEW YORK (TheStreet) — How aggressive was Royal Dutch Shell’s (RDS.A – Get Report) $70 billion deal to buy British oil and gas producer BG Group (BRGYY)? So aggressive that oil may have to rebound […]

Shell expected to slash jobs and spending

By LAURA CHESTERS FOR THE DAILY MAIL Royal Dutch Shell is planning a £20bn sell-off of assets to create a leaner oil giant after its £47bn swoop for rival BG Group. Shell has snapped up BG to expand its liquefied natural gas business and Brazilian deepwater wells but the deal also creates a sprawling £200bn […]

Future of BP as independent company thrown into doubt by Shell’s takeover of BG

By PETER CAMPBELL FOR THE DAILY MAIL Future of BP as independent company thrown into doubt by Shell’s takeover of BG The future of BP as an independent company was thrown into doubt yesterday as analysts said BG’s takeover will prompt a wave of consolidation in the struggling sector. Firms across the industry have been […]