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Shell Philippines files for $629 million IPO, eyes November listing

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MANILA | BY NEIL JEROME MORALES AND ENRICO DELA CRUZBusiness | Tue Jul 26, 2016 5:08am EDT

Pilipinas Shell Petroleum Corp has filed for an initial public offering (IPO) of shares that may raise as much as 29.7 billion pesos ($629 million) in one of the Philippines’ largest stock market listings.

The unit of Royal Dutch Shell Plc (RDSa.L) plans to launch the IPO in October involving up to 330 million primary and secondary shares at up to 90 pesos per share, with a listing on the Philippine Stock Exchange tentatively set for Nov. 10.

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North Sea workers’ strike to ‘severely disrupt’ Shell operations – union

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Commodities | Mon Jul 18, 2016 6:10pm BST

* 24-hour strike on seven Shell platforms set for July 26

* To be followed by three-hour strikes in coming weeks

* Maintenance workers strike may not impact production

* Shell making contingency plans to ensure safety – source 

By Karolin Schaps

LONDON, July 18 A 24-hour strike of Wood Group oil and gas maintenance workers will “severely disrupt” operations at several Royal Dutch Shell platforms in the North Sea where they are employed, labour union Unite said on Monday.

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Wood maintenance workers back strike on Shell UK platforms

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Markets | Wed Jul 13, 2016 11:53am EDT

* Support for strike over pay and working conditions

* Shell platforms concerned include Brent, Shearwater

As many as seven of Royal Dutch Shell’s North Sea platforms could be hit by the first strike action in the basin in 10 years after Wood Group employees working on the facilities voted on Wednesday in favour of industrial action.

Wood Group workers are employed on Shell platforms to carry out maintenance work. A person familiar with the operations said this meant production from the platforms was unlikely to be affected by potential strikes in the short term.

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Shell’s LNG Canada venture again delays export terminal decision

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Screen Shot 2016-06-15 at 15.59.39Shell’s LNG Canada venture again delays export terminal decision

(Reuters) – Royal Dutch Shell Plc RDSa.L and its LNG Canada partners have once again pushed back the timing of a decision on building a British Columbia liquefied natural gas export (LNG) terminal, the latest setback for the Canadian province’s energy ambitions.

LNG Canada, whose participants also include PetroChina Co Ltd 601857.SS, Mitsubishi Corporation 8058.T and Kogas, cited global industry challenges, including capital constraints, for requiring more time prior to making a final investment decision.

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Shell wins tender to sell Nigerian crude cargo to Argentina -traders

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Mon Jul 11, 2016

HOUSTON, July 11 (Reuters) – Anglo-Dutch oil company Royal Dutch Shell was awarded a tender last week to sell 1 million barrels of Nigeria’s Bonny Light crude to a group of refining firms in Argentina, traders said on Monday.

Firms buying the cargo include Oil Combustibles, Axion Energy, Petrobras Argentina and Shell. The crude must be delivered on August 1-10 and it will be processed at several domestic refineries.

It was not immediately possible to know the price agreed for the cargo. Shell has a policy not to comment on such commercial issues.

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Shell CEO says interested in Yuzhno-Kirinskoye field – Vedomosti

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11 July 2016

MOSCOW (Reuters) – Royal Dutch Shell (RDSa.L) is interested to take part in developing Russia’s Yuzhno-Kirinskoye field, Chief Executive Ben van Beurden told Russia’s Vedomosti daily newspaper in an interview.

He added that expansion of the Sakhalin-2 LNG project in Russia’s Pacific Island of Sakhalin may need gas both from that field and from the Sakhalin-1 project.

(Reporting by Katya Golubkova; Editing by Dmitry Solovyov)

SOURCE

Small fire at Prelude LNG construction site in South Korea -Shell

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SYDNEY/SEOUL, July 8 (Reuters) – Shell said a small fire occurred at the construction site in South Korea for its huge floating Prelude liquefied natural gas (LNG) project, with work resuming immediately and an investigation underway.

The incident would not have an impact on the delivery schedule, according to a source in South Korea.

Shell has declined to reveal the timetable or the budget for Prelude, based on a giant processing vessel being built in Samsung Heavy Industries’ Geoje shipyard that will be towed to a gas field off the west Australia coast.

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Exclusive – Shell CEO warns Brexit could slow $30 billion asset sale plan

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Screen Shot 2016-06-30 at 18.15.43By Ron Bousso and Freya Berry: 08/07 11:41 CET

LONDON (Reuters) – Royal Dutch Shell’s chief executive, Ben van Beurden, has told investors that Britain’s decision to exit the European Union could slow its $30 billion (23 billion pounds) asset sale plan, especially in the North Sea which had struggled to attract buyers for years.

The comment, made during an investor and analyst event at the Wimbledon tennis tournament this week, came as Shell mandated Bank of America Merrill Lynch to find buyers for several key assets in the North Sea, including its stake in the lucrative Buzzard oilfield, hoping the sale would raise at least $2 billion.

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Greedy Shell Takes Redundant Employees Tax Breaks

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By John Donovan

Shell has resorted to taking tax breaks intended for redundant employees in order to help maintain its dividend and ensure that senior managers involved in the BG merger vanity project keep THEIR jobs.

Employees in the UK are taxed on redundancy payments over £30k.  However, HMRC provides an exemption for employees who have worked abroad allowing them to reclaim some or all of the tax.  Despite the fact that Shell UK redundancy terms have deteriorated over recent years and are now significantly less generous than their Dutch colleagues receive, Shell UK has decided that it is entitled to the overseas employment tax breaks not the employee.

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Shell seeks $2 billion from Aramco in Motiva joint venture breakup

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LONDON/HOUSTON | BY RON BOUSSO AND ERWIN SEBA: Mon Jul 4, 2016 3:25pm BST

Royal Dutch Shell (RDSa.L) has asked Saudi Aramco for up to $2 billion (£1.5 billion) as part of the breakup of their giant Motiva Enterprises refining joint venture in the United States, the latest stumbling point in a partnership fraught with tension.

The payment would be compensation for the Saudi company retaining a larger share of the nearly two decade-old JV. Its split was announced in March and is expected to be completed in October but disagreements over the payment could postpone the final date, sources close to the talks told Reuters.

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Motiva Convent refinery shelves gasoline unit overhaul -sources

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By Erwin Seba: Friday, 1 July 2016

HOUSTON, July 1 (Reuters) – Motiva Enterprises’ Convent, Louisiana refinery has shelved plans for a gasoline unit overhaul in October despite a six-to-nine-month delay in a planned revamp of the refinery, according to sources familiar with the company’s plans on Friday.

Earlier this year, Motiva began planning the October overhaul of the 92,000 barrel per day (bpd) fluidic catalytic cracking unit at the 235,000 bpd Convent refinery.

Instead, the FCCU will remain in operation until at least June 2017 when it will be permanently closed, said the two sources who were not authorized to speak to the media about the matter.

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BRIEF-Shell CEO says UK investment programme remains at $4 bln by 2018

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Screen Shot 2016-05-21 at 10.18.28June 30 (Reuters) –

* Shell CEO says will continue to invest in the UK despite Brexit vote

* Shell CEO says $4 billion investment programme in UK by 2018 will not change

(Reporting by Ron Bousso)

SOURCE

Indonesia’s Pertamina picks Shell to process Iraqi crude -official

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By Wilda Asmarini: Markets | Wed Jun 29, 2016 

Indonesia’s Pertamina has selected Shell to process a million barrels per month of Iraqi crude at a Singapore refinery, a senior official at the state-owned company said on Wednesday.

The quest for oil-processing capacity abroad is partly spurred by a lack of investor interest in building domestic refineries because of unfavourable investment conditions set by the government.

“We’ve selected Shell because they are the most competitive,” said Daniel Purba, senior vice president of Pertamina’s Integrated Supply Chain unit.

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Shell, BP defy market-sell off on dollar income, dividends

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Business | Mon Jun 27, 2016 7:26pm IST

** Royal Dutch Shell and BP defy a broad market sell-off after Britain’s vote to leave the EU

** Investors cite oil majors’ dollar dividends and income as key attraction points

** A weaker pound makes Shell and BP a cheaper alternative to U.S. peers Exxon Mobil and Chevron

** With dollar-based dividends, which both companies chose due to the underlying oil price, the depreciation of the pound offered automatic gains

** “The oil sector has been the perfect hedge against Brexit,” says Richard Hulf, co-manager of the Artemis Global Energy Fund, which holds shares in Shell and BP

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Dutch government lowers Groningen gas output cap to 24 bcm

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Reuters: Friday, June 24, 2016

THE HAGUE, June 24 The Dutch government said on Friday it would lower the cap on production at the Groningen gas field, which has supplied up to 10 percent of European demand, to 24 billion cubic metres a year for the next five years.

The decision to lower the ceiling from 27 bcm, beginning on Oct. 1, follows a recommendation by the Dutch National Mines Inspectorate.

The Dutch government has been steadily reducing output at Groningen, prompted by a spate of earthquakes linked to production that caused extensive property damage in the northern province.

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Shell says will work with UK, EU on Brexit implications

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Business | Fri Jun 24, 2016 3:07am EDT

Royal Dutch Shell (RDSa.L) said it will work with the British government and European institutions on any implications for its business from Britain’s decision to leave the European Union, a spokesman said on Friday.

Shell, which was in favor of Britain remaining part of the EU, said its priority was to continue supplying energy to customers in Europe and the United Kingdom.

“We will work with the UK government and European institutions on any implications for us,” a spokesman said.

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Dutch agency calls for further cut in Groningen gas production

Screen Shot 2016-06-22 at 10.29.52The agency declined to comment.

The Cabinet is expected to announce its production plans for the field for the period after Oct. 1, 2016 on Friday, after several cuts in the past year have left it at the rate of 27 bcm on an annualized basis.

The final decision will be based on the recommendations from the agency, Groningen’s operator NAM, a joint venture of Royal Dutch Shell and Exxon, and six other parties.

A majority of lawmakers Dutch parliament have called for production to be cut as far as possible to reduce earthquakes in the northern province caused by the gas extraction.

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Russia’s Gazprom eyes asset swap deals with Shell, OMV by year-end

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ST PETERSBURG, RUSSIA | BY DENIS PINCHUK AND DMITRY ZHDANNIKOVMon Jun 20, 2016 8:29am EDT

Russia’s state-controlled gas giant Gazprom (GAZP.MM) could gain control over some of the assets that Shell (RDSa.L) acquired earlier this year from BG group, a senior Gazprom executive said in an interview.

Gazprom’s Deputy Chief Executive Alexander Medvedev said the BG holdings could be included in an asset swap deal between Gazprom and Shell that was announced last year. He did not say what the BG holdings were or where they were located.

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Shell puts revamped shale arm at heart of growth drive

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Having turned round its North American shale business, Royal Dutch Shell (RDSa.L) is putting so-called unconventional energy at the heart of its growth plans, and believes lessons from the revamp can be applied across the company.

Greg Guidry, head of the Anglo-Dutch group’s unconventionals business, told Reuters a drive to slash costs and streamline decision-making had put his division largely on a par with leading rivals in terms of productivity and efficiency.

And now the rest of Shell could reap the benefits too.

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Report: Shell’s Martinez refinery could be sold

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By Sam Richards , [email protected]

Screen Shot 2016-05-21 at 10.18.28MARTINEZ — Two published reports Friday say the Shell Martinez Refinery is up for sale, prompted by what are expected to be crude oil prices rising faster than gas prices at the pump.

The reports, one of them from the international news agency Reuters, say the Netherlands-based global energy company Royal Dutch Shell is looking to shed some of its smaller, less profitable refineries ahead of the anticipated price hike for crude.

The Reuters story said Shell and at least three other major oil companies, including San Ramon-based Chevron, have seen dropping profit margins from their refining operations since a peak in 2015 and want to shed some lower-profit operations before crude oil prices rise much further from recent low levels.

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Global oil majors look to shed refineries as crude prices rebound

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NEW YORK | BY JESSICA RESNICK-AULTFri Jun 17, 2016

Global oil majors Chevron Corp and Royal Dutch Shell Plc are putting small refineries on the auction block as they look to trim lower-margin assets in the face of headwinds from rising crude oil prices.

Chevron, the second largest U.S. oil company, is soliciting interest in its Burnaby, British Columbia, refinery and gasoline stations, the company told Reuters. Shell is looking for buyers for its Martinez, California, refinery, two people familiar with the situation told Reuters. Shell declined to comment.

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Latin America must safeguard energy investors: industry leaders

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Thu Jun 16, 2016 5:48pm EDT

Latin America offers ample opportunities for the energy sector, but governments must make changes to protect investors from legal headaches, industry leaders at the World Economic Forum’s Latin America meeting in Colombia said on Thursday.

Judicial rulings regularly halt energy and mining operations in countries including Colombia, sparking worries that legal tangles would spook foreign investors as many Latin American countries battle high inflation and slowing economic growth.

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Western leaders, CEOs visit Russia amid sanctions fatigue

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Shell CEO Ben van Beurden bows to President Putin of Russia.

NATALIYA VASILYEVA, ASSOCIATED PRESS: June 15, 2016 Updated: June 16, 2016 1:29pm

Following a meeting with Putin, Royal Dutch Shell’s CEO Ben van Beurden and state-owned gas giant Gazprom announced plans to build an LNG plant in Russia together. France’s Total is working with Russia’s largely private gas producer on a liquefied natural gas project.

The fact that the CEOs of top American companies have in a sense defied their government shows that they put their business interests before any political considerations, analysts say.

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Gazprom, Shell to invest $13 bln in projects in Russia – Russian Energy Minister

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Shell CEO Ben van Beurden bows to Russian President Putin at the Kremlin: April 2014

Thu Jun 16, 2016

ST PETERSBURG, Russia, June 16 (Reuters) – Energy major Shell and Russia’s gas major Gazprom will jointly invest $13 billion in three projects in Russia, Russian Energy Minister Alexander Novak said on Thursday.

Novak said that Shell would take part in the development of Gazprom’s Yuzhno-Kirinskoye gas field offshore Russia’s Sakhalin island in the Pacific.

The two companies will also jointly invest in the Baltic Sea Liquefied Natural Gas plant and in the Sakhalin-2 LNG plant expansion.

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Gazprom, Shell sign memo on Baltic LNG project

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Shell CEO Ben van Beurden bows to President Putin

Thu Jun 16, 2016 8:11am EDT

Gazprom and Shell signed on Thursday a memorandum of understanding on construction of a liquefied natural gas (LNG) plant on the Russian coast of the Baltic Sea.

The memorandum says the companies will look into possibilities of building the LNG plant in the port of Ust-Luga with an annual capacity of 10 million tonnes.

Gazprom and Shell are already partners in Russia’s only LNG plant on the Pacific island of Sakhalin which has a capacity of 10 million tonnes per year.

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Russia’s Putin says Shell is long-term, reliable partner

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Screen Shot 2016-05-21 at 10.18.28Thu Jun 16, 2016 11:29am GMT

ST PETERSBURG, Russia, June 16 (Reuters) – President Vladimir Putin said on Thursday Royal Dutch Shell was a long-term and reliable partner for Russia.

Putin, who is attending the annual St Petersburg International Economic Forum, made his remarks after Shell CEO Ben van Beurden asked the Russian leader to help support the company’s Russian business.

Van Beurden said Shell had made a lot of progress in its Sakhalin-2 LNG project with Russian gas giant Gazprom.

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Russia’s Gazprom, Shell to sign deal on Baltic LNG project – Kremlin

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MOSCOW, June 14 (Reuters) – Russian gas giant Gazprom and oil major Shell will sign a deal on a planned Baltic liquefied natural gas (LNG) project on the sidelines of a forum in St. Petersburg later this week, Kremlin aide Yuri Ushakov told reporters on Tuesday.

He said the deal will be signed in the presence of Russian President Vladimir Putin, who will meet Shell’s Chief Executive Ben van Beurden at the forum.

Gazprom plans to build the plant, which may produce up to 20 million tonnes of LNG per year, by December 2021.

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Nigeria: Shell Loses 130,000 BPD Over Facility Shutdown

Screen Shot 2016-06-14 at 16.35.33Shell confirmed to Reuters that the pipeline suffered a leak but the company has not commented on the cause.

Also a source close to the matter informed Reuters that the line could be offline for at least a week, shutting down about 130,000 barrels per day of production.

The leak comes just as Shell finished repair work on the Nembe Creek Trunk Line. The Nembe line was shutdown in early May after a leak was discovered.

The TNP transports around 180,000 barrels of crude oil per day to the Bonny Export Terminal and is part of the gas liquids evacuation infrastructure that is critical for domestic power generation and liquefied gas exports.

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Coming wave of gas puts focus on finding new shores

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Screen Shot 2016-06-06 at 10.26.15LONDON | BY RON BOUSSO AND OLEG VUKMANOVIC: Sun Jun 12, 2016

Energy giants such as Royal Dutch Shell and Total are looking to build terminals and power plants in new markets to soak up the industry’s rapidly burgeoning supply.

Companies have invested billions in plants to produce liquefied natural gas (LNG) in places such as Australia and the United States.

But gas demand growth is slowing, prices are down and the LNG volumes companies are set to produce will exceed those even major buyers such as China and Japan can absorb.

That has turned attention to the downstream market and opportunities to create new markets from Ivory Coast to remote Indonesian islands by building gas-fired power plants, pipelines, regasification and storage terminals.

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Britain to shed a quarter of its oil jobs since price fell – industry

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Friday 10 June 2016

Screen Shot 2016-05-21 at 10.18.28LONDON (Reuters) – As many as 120,000 oil workers will have lost their jobs in Britain by the end of the year compared to mid-2014 when oil prices started declining and unleashed sector-wide cost cuts, the industry’s lobby group said on Friday.

Britain’s oil industry and indirectly related jobs like supply chain and services are estimated to fall to 330,000 by the end of the year, down from 450,000 in 2014, Oil and Gas UK said in a report.

Major British oil industry employers like Royal Dutch Shell (RDSa.L), BP (BP.L) and Chevron (CVX.N) have all announced substantial job cuts in order to rein in costs as revenues have been hit hard by weak oil prices.

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Shell resumes Iranian oil purchases

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Wed Jun 8, 2016 10:00am EDT

Royal Dutch Shell has resumed purchases of Iranian crude, becoming the second major oil firm after Total to restart trade with Tehran after the lifting of sanctions, trading sources said and ship tracking data showed.

Iran has been trying to claw back its market share since international sanctions were lifted in January and regaining a major buyer such as Shell will further aid its cause.

Shell declined to comment.

According to shipping data, Shell fixed Suezmax tanker Delta Hellas to bring 130,000 tonnes of Iranian crude from Kharg Island on July 8 to continental Europe.

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Shell to build Pennsylvania plastics plant in bid for market share

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HOUSTON, JUNE 7 | BY ERNEST SCHEYDER: Tue Jun 7, 2016

Royal Dutch Shell Plc said on Tuesday it will build a chemical plant in Pennsylvania, planning to use an inexpensive and abundant supply of natural gas to make plastics for the northern United States.

The multibillion-dollar plant’s construction will bring an infusion of cash and jobs to northern Appalachia, an area hard-hit by the collapse in the coal and steel industries. Personal and small business income in the region is roughly 25 percent lower than the rest of the United States.

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Shell to exit up to 10 countries after BG deal

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LONDON | BY RON BOUSSO AND KAROLIN SCHAPS: Tue Jun 7, 2016

Royal Dutch Shell (RDSa.L) will exit oil and gas operations in up to 10 countries in a drive to deepen cost cuts and narrow its focus following its $54 billion acquisition of BG Group.

Presenting its strategy following the close of that deal in February, the Anglo-Dutch company outlined plans to target annual spending of $25 billion to $30 billion until the end of the decade.

It lowered its planned 2016 capex to $29 billion in a third cut from an initial $35 billion.

Shell also raised its target for savings from the integration of BG to $4.5 billion, up $1 billion from previous guidance.

Chief Executive Officer Ben van Beurden hopes the new cuts will help boost Shell’s shares, which have underperformed rivals since the BG deal was announced in April 2015.

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Shell confirms signs of leak in Forcados export pipeline after attacks

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Business | Fri Jun 3, 2016 7:18pm BST

Shell Petroleum Development Company of Nigeria Ltd on Friday confirmed signs of a leak in the 48 inch Forcados export pipeline at a location between shoreline and the Forcados terminal in the western Niger Delta.

Its statement came after a reported attack on the pipeline in the early hours of Friday.

“We are yet to fully evaluate the potential impact and damage to the pipeline resulting from this latest incident. We have however mobilized appropriate oil spill response measures,” Shell said in a statement.

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Even for BP and Shell, North Sea remains a hard sell

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Markets | Thu Jun 2, 2016 7:39am EDT

* High costs, decommissioning hamper deals

* Shell not selling upstream assets at $48/bbl -CFO

* BP fails to sell stake in Forties pipeline -sources

By Ron Bousso

LONDON, June 2 When it comes to the North Sea, there is no such thing as an easy sale, even for oil giants Royal Dutch Shell and BP.

More than any other region in the world, the North Sea has suffered greatly over the past two years as a 60 percent drop in oil prices, high operating costs, dwindling reserves and a tough tax regime has hit operators hard.

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BP, Shell among bidders to run Qatar oil field – sources

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DOHA | BY TOM FINNBusiness | Wed May 25, 2016 5:20pm BST

Six international oil firms including BP and Royal Dutch Shell Plc have bid to operate Qatar’s largest offshore oil field, two people with knowledge of the matter told Reuters.

The other bidders are the field’s current operator Maersk, as well as Total SA, Chevron Corp and ConocoPhillips, said the people who spoke on condition of anonymity as the information was private.

The people said state-owned Qatar Petroleum (QP) would award the contract for the oil field, which is 80 kilometres (50 miles) off Qatar’s coast and currently produces around 300,000 barrels per day (bpd), in the second half of the year.

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Shell pipeline fixed after spill near Tracy, California – ABC News

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(Reuters) – A Royal Dutch Shell (RDSa.L) pipeline near Tracy, California has been repaired after spilling up to 21,000 gallons of oil, ABC News reported on its website on Tuesday.

Shell shut down its San Pablo Bay pipeline at Tracy, California last week after noticing very low suction and increased flow rate.

Shell did not give a timeline for the resumption of oil flow, according to the report.

(Reporting by Harshith Aranya in Bengaluru; Editing by Frances Kerry)

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Shell faces rising investor discontent over executive pay

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Screen Shot 2016-05-12 at 11.17.55By REUTERSPUBLISHED: 16:01, 24 May 2016

By Ron Bousso

THE HAGUE, May 24 (Reuters) – Investor discontent with Royal Dutch Shell over multi-million euro pay packages for its top executives rose sharply at this year’s annual shareholder meeting on Tuesday.

Although Shell’s shareholders approved the oil and gas group’s remuneration report, including chief executive Ben van Beurden’s 5.14 million euros ($5.74 million) package, 14.17 percent of investors opposed it, up from 3.84 percent last year.

Royal London Asset Management, which holds Shell shares worth nearly 1 billion pounds, said it was “disappointed” that van Beurden received very close to the maximum possible bonus in a year when the firm’s overall financial performance was weak.

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Shell shareholders vote in favour of CEO’s $5.8-million pay

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THE HAGUE — Reuters: Tuesday, May 24, 2016: 7:40AM EDT

Royal Dutch Shell shareholders on Tuesday voted overwhelmingly in favour of Chief Executive Officer Ben van Beurden’s 2015 remuneration of €5.14-million ($5.8-million U.S.).

His total package, including pension and tax equalization, was €5.58-million, down from 24.2 million the previous year, mainly due to a significant fall in pension which had been boosted in 2014 by van Beurden’s promotion to chief executive.

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Shell says oil sector needs to invest trillions even within climate limits

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By REUTERS: PUBLISHED: 12:47, 24 May 2016

THE HAGUE, May 24 (Reuters) – The oil and gas industry will need to invest up to $1 trillion per year even within the limits of the U.N.-backed goal of curbing global warming to 2 degrees, Royal Dutch Shell’s chief executive said on Tuesday.

“If collectively we find a way to stay within the 2 degree (Celsius limit), we will still need significant investment in oil and gas. I am not talking about a few millions, I am talking about up to a trillion dollars every year that industry has to invest just to stay within 2 degrees in oil and gas,” Ben van Beurden said at the company’s annual shareholder meeting in The Hague.

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Climate change puts trillions of dollars of financial assets at risk: study

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OSLO | BY ALISTER DOYLEMon Apr 4, 2016 4:40pm BST

Trillions of dollars of non-bank financial assets around the world are vulnerable to the effects of global warming, according to a study on Monday that says tougher action to curb greenhouse gas emissions makes sense for investors.

Rising temperatures and the dislocation caused by related droughts, floods and heatwaves will slow global economic growth and damage the performance of stocks and bonds, according to the report, led by the London School of Economics.

“It makes financial sense to a risk-neutral investor to cut emissions, and even more so to the risk-averse,” lead author Professor Simon Dietz, an environmental economist, told Reuters.

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Dutch pension fund PGGM critical of Shell ahead of annual meeting

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By REUTERSPUBLISHED: 18:56, 23 May 2016

AMSTERDAM, May 23 (Reuters) – Dutch pension fund PGGM, a major shareholder in Royal Dutch Shell, criticised the company’s climate change policy on Monday, a day before Shell’s annual meeting.

“We are not yet convinced Shell has sufficiently internalised the consequences of climate change in its strategy and future plans,” the fund said in a statement published on its website.

But PGGM said it would not vote in favour of a resolution put on the shareholder meeting’s agenda by activist group “Follow This” directing the oil giant to transform itself into a “sustainable energy” company.

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Nigeria’s Buhari orders heightened military presence in restive Niger Delta

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ABUJA/ONITSHA, NIGERIA | BY FELIX ONUAH AND ANAMESERE IGBOEROTEONWU

Nigeria’s President Muhammadu Buhari on Friday said he ordered a heightened military presence in the restive Niger Delta region to deal with a resurgence of attacks on oil and gas facilities, a day after yet another pipeline explosion.

British Foreign Minster Philip Hammond warned on Saturday military action would not end a wave of attacks in the southern swamps because it did not address rising anger among residents over poverty despite sitting on much of Nigeria’s oil wealth.

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Shell shareholders advised to oppose CEO’s pay

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Screen Shot 2016-05-12 at 11.17.55LONDON | BY RON BOUSSO: Tue May 17, 2016

Two investor advisory firms have recommended Royal Dutch Shell (RDSa.L) shareholders oppose the CEO’s 2015 remuneration, in the latest sign of rising discontent over pay amid falling oil prices.

Shell Chief Executive Ben van Beurden’s 2015 remuneration fell 8 percent to 5.135 million euros (£4 million) last year, when the company’s revenue dropped sharply due to low oil prices.

Proxy adviser Glass Lewis said in a report it remains “concerned by the disconnect between bonus payouts and financial performance, and the bonus scheme structure more generally”.

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Shell says Nigerian pipeline repair ‘not straightforward’ – paper

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Sun May 15, 2016 5:07pm BST

Royal Dutch Shell (RDSa.L) does not know when its Nigerian Forcados oil terminal will reopen as the repairs to an underwater pipeline damaged by a blast are not straightforward, its country head was quoted as saying on Sunday.

Shell shut the 250,000 barrel a day terminal in February after an attack on an underwater pipeline claimed by a militant group, part of a wave of attacks on oil facilities in the Niger Delta in the past three months.

Shell had initially declined to give details about the incident.

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Shell Oil Spill Dumps Thousands Of Barrels Of Crude Into Gulf Of Mexico

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The U.S. Bureau of Safety and Environmental Enforcement (BSEE) said a 2 mile by 13 mile (about 3 km by 21 km) sheen was visible in the sea about 97 miles off the Louisiana coast.

The sheen is near Shell’s Glider Field, a group of four subsea wells whose production flows through a subsea manifold to the Brutus platform, which sits in water with a depth of 2,900 feet (884 m).

In a statement, Shell spokesman Curtis Smith said a company helicopter observed the sheen on Thursday, and that the wells were under control after it isolated the leak and shut in production.

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Shell participates in bid for Dutch offshore wind farm

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Markets | Thu May 12, 2016 12:40pm EDT

By Toby Sterling and Thomas Escritt

May 12 Royal Dutch Shell is in a consortium bidding to build two 350 megawatt wind farms off the coast of the Netherlands, the oil company said on Thursday, delivering on a promise to invest more in wind energy.

Shell, bidding in the Dutch government tender together with energy company Eneco and contractor Van Oord NV, will use turbines built by Vestas if successful, the three companies in the consortium said in a statement.

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Pipeline explosion in Nigeria’s Delta behind shutdown of Shell’s Bonny Light exports: community leader

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Screen Shot 2016-05-09 at 15.25.56Wed May 11, 2016 12:50pm GMT

YENAGOA, Nigeria (Reuters) – An explosion has shut down an oil pipeline in Nigeria’s Delta, a community leader said on Wednesday, explaining why Shell has shut down its Bonny Light exports.

Shell said earlier a leak had shut down the exports, without giving details.

“There was a blast on the trunk line around Kalabari community of Rivers state,” said Nengi James, a community leader dealing with oil and gas companies operating in the region. “We don’t know the cause and who is behind the explosion.”

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Nigeria oil output set to fall to 22-yr low on pipeline outage

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YENAGOA, NIGERIA: Wed May 11, 2016

(Reuters) – Nigeria’s oil production is set to fall to its lowest in more than two decades after Royal Dutch Shell’s local operation said it had shut a major pipeline.

Nigeria’s oil output fell close to a 22-year low this month due to attacks on oil pipelines in the southern Niger Delta, home to much of the country’s oil and gas wealth, compounding the impact of low oil prices on Africa’s largest economy.

On Wednesday, Shell Petroleum Development Co (SPDC) said it declared force majeure on Bonny Light crude exports on Tuesday after closing the Nembe Creek Trunk line (NCTL) for repairs after a leak. NCTL carries all the country’s Bonny Light.

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Shell restarts some production at Alberta oil sands project

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Royal Dutch Shell Plc has restarted production at a reduced rate at its Albian oil sands mining operation in Alberta, it said on Monday, even as many energy companies remain offline after a major wildfire ravaged the area.

The company said it will fly in and fly out staff to help resume operations over the coming days and weeks. Locally based employees may choose to support operations only if they are willing and available, it said.

(Reporting by Jeffrey Hodgson; Editing by Sandra Maler)

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