Royal Dutch Shell plc .com Rotating Header Image

Posts under ‘Reuters’

Oil market rebalancing could take until end 2017: Shell

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-08-29 at 22.25.22

Screen Shot 2016-08-29 at 22.28.14

Mon Aug 29, 2016 2:01pm EDT

By Karolin Schaps | STAVANGER, NORWAY

The huge global oil oversupply that has weighed on prices for the past two years may not clear until the second half of 2017, Shell’s chief energy adviser Wim Thomas told Reuters.

The potential return to the market of some 1.5 million barrels per day of supply from Libya and Nigeria and uncertainty about Iranian and Iraqi production levels could push a rebalancing further away than many in the oil industry are hoping.

read more

Shell CEO sees oil demand up by 1-1.5 mln barrels/day per year

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-08-29 at 18.12.46

Screen Shot 2016-07-29 at 16.46.22The CEOs of Shell and ConocoPhillips made the following comments to the ONS oil conference in Stavanger, Norway, on Monday:

* Shell CEO Ben van Beurden says sees increase in oil demand of 1-1.5 million barrels per day per year

* Shell CEO says sees future oil demand more dictated by consumer decisions rather than producers’ decisions

* ConocoPhillips CEO Ryan Lance says carbon price needs to be $100 or more to reach climate target

read more

Reuters: Partial restart of Motiva Convent hydrocracker seen by year-end

Screen Shot 2016-08-22 at 21.32.11

Aug 22 2016, 14:58 ET | By: Carl Surran, SA News Editor

Motiva Enterprises’ 235K bbl/day Convent, La., refinery plans a partial restart of the heavy oil hydrocracking unit by year-end, but full production is not expected to return before fall 2017 as repairs are made from the Aug. 11 fire, Reuters reports, citing Gulf Coast market sources.

In addition to extensive repairs required to return the 45K bbl/day hydrocracker, Motiva will revamp the unit during the shutdown for the planned linking of the Convent refinery with the company’s refinery in Norco, La., sometime next year, according to the report.

read more

Anger in the Delta keeps oil majors quiet – and Nigeria’s crude offline

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-08-21 at 09.55.50

Screen Shot 2016-08-21 at 10.01.07

By Libby George and Ulf Laessing | LONDON/LAGOS

Oil companies and even Nigerian officials are losing faith in a deal anytime soon with militants who have slashed the nation’s oil output, casting doubt on a production recovery in what is typically Africa’s largest oil exporter.

In the six months since the first major attack on Nigeria’s oil – a sophisticated bombing of the subsea Forcados pipeline – dozens of attacks have pushed outages to more than 700,000 barrels per day (bpd), the highest in seven years.

read more

Exxon, Motiva refineries continue reduced operations amid floods

Screen Shot 2016-08-19 at 09.24.26

Thu Aug 18, 2016 5:18pm EDT

Exxon Mobil Corp and Motiva Enterprises refineries continued to operate at reduced levels amidst flood waters in southern Louisiana, sources familiar with operations at each refinery said on Thursday.

An Exxon spokeswoman said the Baton Rouge Complex, which includes a 502,500 bpd refinery, continued to operate on Thursday, but declined to discuss the level of production or the status of specific units. The Baton Rouge refinery is the fourth largest in the United States.

read more

Motiva Convent refinery HCU surrounded by high water: sources

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-08-12 at 20.43.56

Screen Shot 2016-08-11 at 22.04.57

Fri Aug 12, 2016 3:06pm EDT

The fire-damaged hydrocracking unit at Motiva Enterprises’ [MOTIV.UL] 235,000 barrel per day (bpd) Convent, Louisiana, refinery was surrounded by high water on Friday from heavy rains overnight, sources familiar with plant operations said.

A Motiva spokeswoman on Friday did not discuss high water at the refinery in a email reply to questions from Reuters.

“Although the weather is challenging, the refinery is running and making product,” said Motiva spokeswoman Angela Goodwin.

read more

Motiva Convent refinery fire out, HCU heavily damaged -sources

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-08-12 at 08.01.08

Screen Shot 2016-08-11 at 22.04.57By Erwin Seba and Liz Hampton | HOUSTON: Thu Aug 11, 2016 6:41pm EDT

A blaze broke out on Thursday at Motiva Enterprises [MOTIV.UL] 235,000 barrel per day (bpd) Convent, Louisiana refinery, heavily damaging the structure of the heavy oil hydrocracker before being extinguished in the afternoon, sources familiar with plant operations said.

Motiva confirmed that the fire was extinguished and said there were no injuries.

Initial assessments by Motiva indicated that repairs to 45,000 bpd HCU, called the H-Oil unit, are expected to take between one and four months, the sources said. Little damage was seen to the unit’s reactors, they said.

read more

Exclusive: Iraq, oil companies agree to restart investment, boost output

Screen Shot 2016-08-04 at 09.29.49

Exclusive: Iraq, oil companies agree to restart investment, boost output

BAGHDAD/BASRA – | BY AHMED RASHEED AND AREF MOHAMMED: Business | Thu Aug 11, 2016 7:05am EDT

Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oil fields the firms are developing, allowing projects that were halted this year to resume and crude production to increase in 2017, Iraqi oil officials said.

The agreements, reached in July and August, effectively delay to the second half of the year projects that the three companies had planned to carry out in the first half, which had been suspended because of low oil prices.

read more

Idemitsu, Showa Shell shares slide after Idemitsu family moves to block deal

Screen Shot 2016-08-04 at 09.33.20

Markets | Wed Aug 3, 2016 11:53pm EDT

* Idemitsu family buys small stake in Showa Shell

* Purchase raises prospect of possibly expensive tender offer

* Fears grow that move may derail deal

* Shares in Showa Shell down 8 pct, Idemitsu down 7 pct 

By Makiko Yamazaki and Chang-Ran Kim

TOKYO, Aug 4 A move by Idemitsu Kosan Co Ltd’s founding family to block management’s plan to acquire smaller rival Showa Shell Sekiyu KK sent shares in the Japanese refiners tumbling on Thursday as concerns grew that the family might well succeed.

read more

Suspected militants attack Shell affiliated pipeline in Nigeria’s Delta

Screen Shot 2016-08-01 at 21.19.23

Screen Shot 2016-08-01 at 21.16.35

Screen Shot 2016-07-29 at 16.46.22Mon Aug 1, 2016 6:24am EDT

Suspected militants have attacked an oil pipeline operated by a local affiliate of Shell in Nigeria’s restive southern Niger Delta region, locals and a community group said on Monday.

Militants have attacked oil and gas facilities in the OPEC member’s energy hub over the last few months, cutting the country’s crude production — which stood at 2.2 million barrels per day (bpd) at the start of the year — by around 700,000 bpd.

Nobody has claimed responsibility for a blast at the Trans Ramos Pipeline near Odimodi, operated by Shell’s joint venture SPDC, which locals said happened in the early hours of Sunday shortly after 1:00 a.m. (08:00 EDT). Shell said the line was closed for repairs.

read more

Shell misses expectations with 70 percent earnings plunge

Screen Shot 2016-07-28 at 08.37.58By REUTERS: PUBLISHED: 08:16, 28 July 2016

By Karolin Schaps and Dmitry Zhdannikov

LONDON, July 28 (Reuters) – Royal Dutch Shell reported a more than 70 percent fall in quarterly profit on Thursday, well below analyst estimates, blaming weak oil prices, poor refining profits and higher charges resulting from its $54 billion acquisition of BG Group.

Shell’s current cost of supplies — its definition of net income — came to $1 billion in the second quarter, compared with analyst expectations of $2.2 billion and $3.8 billion achieved the same time last year.

read more

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

Screen Shot 2016-07-26 at 16.29.38

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.

read more

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

Screen Shot 2016-07-18 at 18.05.56

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.

read more

Wood maintenance workers back strike on Shell UK platforms

Screen Shot 2016-07-13 at 20.53.43

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.

read more

Shell’s LNG Canada venture again delays export terminal decision

Screen Shot 2016-06-27 at 19.04.46

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.

read more

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

Screen Shot 2016-07-12 at 08.27.53

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.

read more

Shell CEO says interested in Yuzhno-Kirinskoye field – Vedomosti

Screen Shot 2016-07-11 at 16.33.58

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

Screen Shot 2016-07-08 at 14.30.40

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.

read more

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

Screen Shot 2016-06-27 at 19.04.46

Screen Shot 2016-07-08 at 13.56.26

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.

read more

Greedy Shell Takes Redundant Employees Tax Breaks

Screen Shot 2016-07-06 at 13.31.01

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.

read more

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

Screen Shot 2016-06-27 at 19.04.46

Screen Shot 2016-07-04 at 20.03.58

Screen Shot 2016-07-04 at 20.02.21

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.

read more

Motiva Convent refinery shelves gasoline unit overhaul -sources

Screen Shot 2016-06-27 at 19.04.46

Screen Shot 2016-06-08 at 16.56.15

Screen Shot 2016-07-01 at 22.04.10

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.

read more

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

Screen Shot 2016-06-27 at 19.04.46

Screen Shot 2016-06-30 at 11.33.44

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

Screen Shot 2016-06-30 at 10.56.48

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.

read more

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

Screen Shot 2016-06-27 at 19.09.28

Screen Shot 2016-06-13 at 22.34.33

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

read more

Dutch government lowers Groningen gas output cap to 24 bcm

Screen Shot 2016-06-24 at 21.40.30

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.

read more

Shell says will work with UK, EU on Brexit implications

Screen Shot 2016-06-24 at 09.35.09

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.

read more

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.

read more

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

Screen Shot 2016-06-21 at 10.02.25

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.

read more

Shell puts revamped shale arm at heart of growth drive

Screen Shot 2016-06-20 at 08.28.35

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.

read more

Report: Shell’s Martinez refinery could be sold

Screen Shot 2016-06-18 at 08.01.09

Screen Shot 2016-06-18 at 08.02.12Screen Shot 2016-06-18 at 07.59.16

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.

read more

Global oil majors look to shed refineries as crude prices rebound

Screen Shot 2016-06-17 at 09.45.37

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.

read more

Latin America must safeguard energy investors: industry leaders

Screen Shot 2016-06-17 at 08.55.46

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.

read more

Western leaders, CEOs visit Russia amid sanctions fatigue

Screen Shot 2016-06-16 at 22.42.54

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.

read more

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

Screen Shot 2016-06-16 at 18.30.18

Screen Shot 2016-06-16 at 16.59.26

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.

read more

Gazprom, Shell sign memo on Baltic LNG project

Screen Shot 2016-06-16 at 17.02.29

Screen Shot 2016-06-16 at 16.59.26

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.

read more

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

Screen Shot 2016-05-26 at 09.26.29

Screen Shot 2016-06-16 at 13.33.46

Screen Shot 2016-06-16 at 13.29.23

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.

read more

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

Screen Shot 2016-05-26 at 09.26.29

Screen Shot 2016-06-14 at 16.41.35

Screen Shot 2016-06-14 at 16.44.45Tue Jun 14, 2016 1:32pm GMT

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.

read more

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.

read more

Coming wave of gas puts focus on finding new shores

Screen Shot 2016-06-12 at 08.46.57

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.

read more

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

Screen Shot 2016-05-26 at 09.26.29

Screen Shot 2016-06-10 at 11.09.13

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.

read more

Shell resumes Iranian oil purchases

Screen Shot 2016-06-09 at 01.50.07

Screen Shot 2016-06-08 at 19.11.36

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.

read more

Shell to build Pennsylvania plastics plant in bid for market share

Screen Shot 2016-06-07 at 23.22.55

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.

read more

Shell to exit up to 10 countries after BG deal

Screen Shot 2016-06-07 at 09.51.48

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.

read more

Shell confirms signs of leak in Forcados export pipeline after attacks

Screen Shot 2016-06-04 at 23.35.36

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.

read more

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

Screen Shot 2016-06-03 at 10.13.35

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.

read more

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

Screen Shot 2016-05-26 at 09.26.29

Screen Shot 2016-05-26 at 09.31.17

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.

read more

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

Screen Shot 2016-05-25 at 09.23.58

(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)

SOURCE

Shell faces rising investor discontent over executive pay

Screen Shot 2016-05-24 at 16.44.51

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.

read more

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

Screen Shot 2016-05-24 at 15.14.07

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.

This is a catch-all ASF view; only displays when an unsupported article type is put in an ASF drop zone

read more

%d bloggers like this: