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Posts under ‘Reuters’

BG chief welcomes $70 billion Shell offer with ‘mixed emotions’

  Ben van Beurden, CEO of Royal Dutch Shell, left, shakes hands with the Chairman of BG group Andrew Gould during the press conference announcing Royal Dutch Shell had agreed to buy British Gas for $70 Billion.  BG chief welcomes $70 billion Shell offer with ‘mixed emotions’ Tuesday May 5, 2015  (Reuters) – BG (BG.L) […]

Royal Dutch Shell Signs New Loan Deal To Finance BG Group plc Takeover

By: MICHEAL KAUFMAN: Published: May 2, 2015 at 10:22 am EST Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has entered an agreement for a bridge loan of $15.2 billion (10.07 billion GBP), the company said on Friday. The new credit facility will replace a $4.6 billion (3.025 billion GBP) interim loan, which was obtained last month from […]

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 […]

10th Anniversary of Domain Name Win Over Shell

10th Anniversary of Spectacular Domain Name Win Over Shell By John Donovan Ten years ago, in May 2005, Shell International Petroleum Company Limited served proceedings in New York against my late father Alfred Donovan, via The World Intellectual Property Organisation (WIPO) in an attempt to seize the top level (.com) domain name for its newly […]

Shell signs $15.3 billion bridge loan

(Reuters) – Royal Dutch Shell (RDSa.L) has agreed a 10.07 billion pound ($15.28 billion) bridge loan from a group of relationship banks backing its 47 billion pound takeover of smaller rival BG Group (BG.L), the company announced on Friday. The two-year loan replaces a 3.025 billion pound interim bridge loan that was provided in early […]

Shell Prepares Armada to Begin Arctic Exploration

Royal Dutch Shell is pushing ahead with plans to explore for oil in the Arctic Ocean near Alaska this summer despite opposition from environmental groups. The Anglo-Dutch oil major is preparing “an armada of 25 vessels” to begin a two-year program to explore two to three wells in the Chukchi Sea off the coast of Alaska, Chief Financial […]

Shell pushes on with Arctic exploration as it awaits U.S. permit

Business | Thursday Apr 30, 2015  Shell pushes on with Arctic exploration as it awaits U.S. permit (Reuters) – Royal Dutch Shell is pushing ahead with plans to explore for oil in the Arctic Ocean near Alaska this summer despite opposition from environmental groups. The Anglo-Dutch oil major is preparing “an armada of 25 vessels” […]

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 […]

Shell Accused Of Misleading Its Shareholders About The Risks Of Arctic Drilling

BY ELISE SHULMAN — GUEST CONTRIBUTOR POSTED 29 APRIL 2015 on thinkprogress.org Shell Accused Of Misleading Its Shareholders About The Risks Of Arctic Drilling If Royal Dutch Shell’s Arctic drilling program leads to a major spill, it could cost the oil company — and therefore its shareholders — an entire year’s worth of profit, according […]

Dutch parliament reverses burden of proof in gas damage claims

AMSTERDAM | BY TOBY STERLING:Tuesday 28 April 2015 Dutch parliament reverses burden of proof in gas damage claims (Reuters) – The Dutch parliament on Tuesday voted to reverse the burden of proof in disputes over damages to buildings caused by the production of gas at Groningen, Europe’s largest natural gas field, a potentially expensive decision. […]

Groups seek U.S. SEC probe of Shell Arctic drilling risk disclosures

WASHINGTON, APRIL 28, 2015 (Reuters) – An environmental group and a law clinic petitioned the U.S. Securities and Exchange Commission to investigate whether Royal Dutch Shell has adequately disclosed to investors the risks of oil exploration in the harsh Arctic waters, the groups said on Tuesday. The U.S. Interior Department is mulling whether Shell can […]

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 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 […]

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 […]

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 […]

A Dutch can of worms for Shell and Exxon

By John Donovan The financial repercussions from the Shell/Exxon induced earthquakes in the Groningen area of the Netherlands,  which are increasing in strength and frequency, is getting even more serious. Reuters is reporting that the estimated cost to reinforce more than 150,000 Dutch homes to withstand the earthquakes caused by extracting gas in the Groningen gas field has […]

Groningen quake zone: another shaker

Reinforcing homes in Dutch gas extraction quake zone estimated at 30 bln euros Mon Apr 20, 2015 9:01am EDT (Reuters) – The estimated cost to reinforce more than 150,000 Dutch homes to withstand earthquakes caused by extracting gas in the massive Groningen field was increased to at least 30 billion euros ($32 billion), the province […]

Total, BP say feel no M&A pressures after Shell deal

PARIS/LONDON | BY MICHEL ROSE AND DMITRY ZHDANNIKOV: Thursday 16 April 2015 (Reuters) – French oil major Total (TOTF.PA) and British rival BP (BP.L) are under no pressure to make acquisitions after the recent takeover of BG Group by Anglo-Dutch rival Shell (RDSa.L), they said on Thursday. Royal Dutch Shell (RDSa.L) unveiled plans last week […]

Shell, Greenpeace tussle in court over Arctic oil drilling

BY BARBARA LISTON: Thu Apr 16, 2015 7:03am EDT (Reuters) – Greenpeace volunteers who occupied a Shell Offshore oil drilling vessel en route to the Arctic Ocean last week acted dangerously and jeopardized company property and human life, according to arguments filed in Alaska federal court by Shell lawyers Jeffrey Leppo and Ryan Steen of Seattle. […]

Exxon-Shell gas venture may have to adjust Groningen output after court ruling

Exxon-Shell gas venture may have to adjust Groningen output after court ruling AMSTERDAM: Wed Apr 15, 2015 6:09am EDT (Reuters) – Gas production joint venture NAM is studying the impact of a court ruling that halted production at a small part of the massive Groningen gas field because of safety concerns, the Dutch government said […]

Shell sells 185 UK petrol stations as retail divestments continue

Mon Apr 13, 2015  (Reuters) – Shell (RDSa.L) has agreed to sell 185 service stations across Britain to two independent dealers, it announced on Monday, further reducing its presence in the European retail energy market. Shell announced downstream and retail divestments last year in countries including Italy, Norway and Germany as part of cost cuts […]

Shell-BG takeover to test China’s pledge on antitrust transparency

Shell-BG takeover to test China’s pledge on antitrust transparency HONG KONG | BY MICHELLE PRICE AND DENNY THOMAS: Fri Apr 10, 2015 (Reuters) – Royal Dutch Shell’s $70 billion bid for BG Group Plc will put to the test a pledge by China’s antitrust regime to be more transparent, after it faced strong criticism last year […]

Shell seeking to buy BG in first oil super-merger in over a decade

The collapse in global oil prices has sparked much speculation about mergers in the industry and BG has often been cited as a potential target. (Reuters) – Royal Dutch Shell (RDSa.L) is in advanced talks to buy BG Group (BG.L) in the first oil super-merger in more than a decade, seeking to extend its lead […]

Here’s why Obama is approving Arctic drilling again

WASHINGTON, APRIL 1 | BY TIMOTHY GARDNER (Reuters) – For a leader who has made fighting climate change a priority, President Barack Obama’s decision to approve Royal Dutch Shell’s return to oil and gas exploration off Alaska was seen by many environmentalists as a contradiction. On Tuesday, his administration upheld a 2008 Arctic lease sale, […]

Dutch court hears challenge over Groningen gas production

Dutch court refuses to halt Groningen gas production THE HAGUE, APRIL 1 By Toby Sterling (Reuters) – A Dutch judge on Wednesday refused to order a production halt at Europe’s biggest gas field, Groningen, where extraction is causing earthquakes, dealing a blow to opponents of government policy. Production from the field was temporarily reduced in […]

U.S. approval moves Shell a step closer to Arctic drilling

Tue Mar 31, 2015 3:40pm EDT U.S. approval moves Shell a step closer to Arctic drilling (Reuters) – The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas exploration in the Arctic since it suffered […]

Shell will resume drilling off Alaska coast: U.S. Arctic envoy

By David Ljunggren OTTAWA (Reuters) – Royal Dutch Shell will resume drilling off Alaska after suspending operations for two years in the wake of an accident, the special U.S. envoy to the Arctic said on Monday, but gave no details as to when. Shell has been moving oil rigs to Alaska as it awaits the […]

Motiva to integrate Norco, Convent refineries in Louisiana

26 March 2015 (Reuters) – Motiva Enterprises said on Thursday that operations at its Convent and Norco, Louisiana, refineries will be integrated to take advantage of increased production of lower-cost U.S. shale oil. Motiva, which is co-owned by Royal Dutch Shell Plc and Saudi Aramco, said the first step in the integration project is the […]

Nigeria: Shell completes $1.7 billion sale of Nigerian assets to Aiteo

Shell completes $1.7 billion sale of Nigerian assets to Aiteo ABUJA (Reuters) – Oil major Shell said on Wendesday it completed the sale of its 30 percent stake in the Nigerian oil block 29 and the Nembe Creek trunk line to Aiteo Eastern Exploration and Production Co for $1.7 billion. Total and Eni’s Nigerian arms […]

Shell gets cold feet on SA shale-gas

FROM TIMES LIVE – SUNDAY TIME SA: ARTICLE BY LONI PRINSLOO 15 March 2015 Shell gets cold feet on SA shale-gas Multinational oil and gas company Royal Dutch Shell is pulling its top shale-gas man out of South Africa, an indication that companies are growing increasingly frustrated with government delays over shale-gas legislation. This week, […]

Kashagan oil production to resume in 2017 – Shell

London, 13 March 2015 (Reuters) – Production from Kazakhstan’s giant Kashagan oilfield is expected to resume in 2017, more than three years after being suspended due to a pipeline leak, stake holder Royal Dutch Shell said. Operations at the major field, expected to reach production of 300,000 barrels of oil equivalent, started in September 2013 […]

Oil companies offer to cut 2015 spending in Iraq

* Iraq seeks to stem losses from falling oil prices * Calls on firms to reduce development costs * Baghdad seeks amended contracts to “share risk” * Says companies should maintain output despite changes MR_Story By Ahmed Rasheed BAGHDAD, March 12 ( Reuters ) – Oil companies have proposed millions of dollars of cuts in […]

Shell CEO’s total pay soars to $25.7 mln

Thu Mar 12, 2015 8:09am EDT (Reuters) – Royal Dutch Shell Chief Executive Ben van Beurden will earn a total 24.2 million euros ($26 million) for 2014, making him one of the highest-earning FTSE 100 bosses despite last year’s sharp fall in oil prices. Van Beurden’s total pay includes 5.6 million euros in salary, bonus […]

Exxon, Shell’s spending patterns may help them through oil price drop

* Two biggest oil firms have finished major projects * Exxon, Shell able to cut 2015 spending * All oil majors face 2015 negative cashflow * Set to increase borrowing easily to cover shortfalls By Ron Bousso and Dmitry Zhdannikov LONDON, March 10 (Reuters) – The world’s two biggest oil firms, Exxon Mobil Corp and […]

Shell has no timeline for Nigeria oil well restart after leak

Sat Mar 7, 2015 9:00am GMT LONDON (Reuters) – Shell has no timeline to restart the Seibou 2 wellhead in Nigeria that it closed in January after it leaked 550 barrels of crude oil, a spokeswoman said on Friday. The company said it closed the well, which is operated by Shell Petroleum Development Company of […]

Police block striking refinery workers from entering Shell Houston HQ

REUTERS ARTICLE PUBLISHED FRIDAY 6 MARCH 2015 Police block striking refinery workers from entering Shell Houston HQ (Reuters) – Police blocked several hundred striking laborers from entering Shell Oil Co’s downtown Houston headquarters during a protest on Friday to demand a new labor contract for U.S. refinery workers. Officers quickly moved to guard entrances to […]

Bells toll for Europe’s largest gas field

It accused the government and the field’s operators, Royal Dutch Shell and Exxon Mobil Corp, of ignoring the threat of earthquakes linked to the massive Groningen gas field for years. Toby Sterling | Reuters WESTERWIJTWERD, Netherlands – Dutch church bells that for centuries have tolled to warn of floods across the low-lying countryside are sounding […]

U.S. refinery strike widening to include largest refinery

HOUSTON Sat Feb 21, 2015 12:13am EST (Reuters) – The U.S. refinery strike was widening on Friday night as workers at the nation’s largest refinery gave notice of a walkout beginning at 12 a.m. (0600 GMT) on Saturday, the United Steelworkers union (USW) said. Shortly after talks between union and oil company representatives ended on […]

BP loses bid to cut maximum $13.7 billion Gulf spill fine

BY JONATHAN STEMPEL Thu Feb 19, 2015 9:04pm EST (Reuters) – A U.S. judge on Thursday rejected BP Plc’s (BP.L) attempt to reduce the maximum civil fine it could face for its role in the 2010 Gulf of Mexico oil spill, leaving it potentially liable to pay $13.7 billion under the federal Clean Water Act. […]