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Posts under ‘Reuters’

Dutch Court Says Gas Producer Must Compensate Homeowners in Quake Zone

By REUTERS SEPT. 2, 2015 AMSTERDAM — A court in the Netherlands ruled on Wednesday that a natural gas company, a joint venture by Royal Dutch Shell and Exxon Mobil, must compensate homeowners for declines in the value of their properties because of earthquakes linked to production at the Groningen field. The ruling by the court […]

BG says European Commission signs off on Shell bid

Wed Sep 2, 2015 BG Group Plc (BG.L) said the European Union’s antitrust regulators had approved Royal Dutch Shell Plc’s (RDSa.L) $70 billion takeover bid for the oil and gas producer. The deal, which will help Shell compete better with world No. 1 oil major ExxonMobil (XOM.N), has already received the green light from regulators […]

Exclusive : BG puts Thai gas field stake worth $1.2 billion on sale – sources

HONG KONG/LONDON | BY DENNY THOMAS AND RON BOUSSO: TUESDAY Sept 1, 2015 BG Group plc, which is being acquired by Royal Dutch Shell plc, has put up for sale its 22.2 percent stake valued at around $1.2 billion in Thailand’s huge Bongkot offshore gas field, people familiar with the matter said. The move represents […]

Brazil regulator tells Shell, partners to develop two oilfields as one

RIO DE JANEIRO | BY MARTA NOGUEIRA: 18 Aug 2015 Brazil’s National Petroleum Agency (ANP) ruled that Royal Dutch Shell (RDSa.L) and its Qatari and Indian partners need to treat oil and gas fields in the Parque das Conchas area as a single deposit, Shell said, a move that could increase taxes on output. Shell […]

Royal Dutch Shell in framework LNG deal with private Chinese firm

18 August 2015 BEIJING: Royal Dutch Shell has entered a framework deal with a Chinese energy firm to jointly purchase and distribute liquefied natural gas, Shell said on Tuesday, a rare cooperation between a global energy company and a local private player. Shell signed the non-binding framework agreement with Guanghui Energy Co Ltd, which is […]

U.S. gives Shell final nod to drill for oil in Arctic

Markets | Mon Aug 17, 2015 By Timothy Gardner Aug 17 (Reuters) – The Obama administration granted Royal Dutch Shell final clearance on Monday to resume drilling for oil and gas in the environmentally fragile Arctic Ocean for the first time since 2012, a move green groups vowed to fight. The U.S. Department of the […]

U.S. Coast Guard sees added burden in Shell’s Arctic quest

The U.S. Coast Guard Legend-class national security cutter USCGC Waesch In 2012, the last time the company explored in the Arctic, Coast Guard helicopters had to rescue 18 Shell workers from an out-of-control oil rig in stormy seas, one of several mishaps the company suffered that year. The rig ran aground and had to be scrapped. […]

U.S. sanctions put Gazprom-Shell alliance plans in jeopardy

MOSCOW | BY DENIS PINCHUK AND KATYA GOLUBKOVA: Mon 10 August 2015 Royal Dutch Shell’s (RDSa.L) plans to build a strategic alliance with Russia’s Gazprom (GAZP.MM) could be in jeopardy after the United States added one of Gazprom’s biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement […]

New head of Nigeria’s state oil company sacks top management

By Julia Payne Aug 5 (Reuters) – The new head of Nigeria’s state oil firm dismissed senior managers after a government directive, the company said on Wednesday, barely a day after President Muhammadu Buhari appointed him as managing director. “All of the executive directors were let go … Buhari wanted a clean slate,” one of […]

Shell eyes new Brazilian assets ahead of BG deal

Commodities | Fri Aug 7, 2015  * Shell earmarks up to $5 bln for further acquisitions * Oil majors to focus on Brazil‘s oil, LNG after BG deal * Shell to sell $30 bln in assets by 2018 By Ron Bousso LONDON, Aug 7 (Reuters) – Royal Dutch Shell is considering investing billions in Brazil, […]

Oil sinks below $50

Oil dives 5 percent to six-month low under $50 on China worry Markets | Mon Aug 3, 2015 4:21pm EDT Oil prices lurched 5 percent lower on Monday to their lowest since January, taking global benchmark Brent below $50 a barrel as weak factory activity in China deepened a commodity-wide rout. Growing concerns over excess […]

Shell to cut jobs, spending to cope with lower oil prices

LONDON | BY RON BOUSSO AND KAROLIN SCHAPS: 30 July 2015 Royal Dutch Shell on Thursday reported a 37 percent drop in second quarter profits and said it would cut 6,500 jobs this year and reduce spending further to deal with an extended period of lower oil prices. The Anglo-Dutch oil and gas company also said […]

Oregon ‘kayaktivists’ to protest Shell Arctic oil search

PORTLAND, ORE., JULY 28 | BY SHELBY SEBENS Protesters began gathering in a riverside park in Portland Tuesday evening, planning to drop kayaks in the water to protest Wednesday’s scheduled launch of a ship to be used by Royal Dutch Shell for Arctic oil exploration. Following the lead of protesters in Seattle who tried to […]

More and bigger drilling-linked earthquakes rattle Oklahoma

By Heide Brandes: 28 July 2015 OKLAHOMA CITY (Reuters) – Several earthquakes shook Oklahoma on Monday as the state experiences a sharp increase in the frequency of tremors linked to wastewater disposal from gas and oil drilling, including from fracking, state and federal officials said. Three of Monday’s quakes measured above a magnitude 4.0, with […]

Brazil clears $70 bln BG-Shell merger, BG says

Markets | Fri Jul 24, 2015 5:53pm EDT BG Group Plc on Friday confirmed that it has received final unconditional clearance from Brazilian competition authority CADE for its acquisition by bigger rival Royal Dutch Shell. The clearance of the $70 billion merger follows the 15-day period during which the preliminary approval granted by CADE on […]

U.S. says Shell is not yet allowed to drill in Arctic oil zone

The Department of the Interior conditionally granted Shell permits for oil exploration in the Chukchi Sea off Alaska. Timothy Gardner: Jul 22, 2015  WASHINGTON (Reuters) – The U.S. Interior Department on Wednesday granted Royal Dutch Shell <RDSa.L> two final permits to explore for crude in the Arctic this summer, but said the company cannot drill into […]

S&P cut its rating on Shell after big BG merger

Standard & Poors cut its rating on Royal Dutch Shell Plc (RDSa.L) by one notch to ‘AA minus’ from ‘AA’, citing a weaker financial risk profile, mainly due to soft oil prices, and continuing substantial capital expenditures. The rating agency said the outlook on the company is negative reflecting possible adverse effects on credit metrics […]

FT: Shell Expected to Reduce Capex for the Year

by  Reuters| Monday, July 20, 2015 (Reuters) – Royal Dutch Shell, which is all set to acquire rival BG Group Plc, may cut its capital expenditure for the year by several billion dollars from the previously announced $33 billion figure, the Financial Times reported on Sunday, citing sources. A substantial cut to this year’s capital investment […]

Shell expects oil price recovery to take several years

Ron Bousso, Karolin Schaps and Dmitry Zhdannikov, Reuters LONDON (Reuters) – Royal Dutch Shell expects oil prices to recover gradually over the next five years, with progress slowed by persistent global oversupply and receding Chinese demand growth. The Anglo-Dutch energy giant is betting on crude rising to $90 a barrel by 2020, a key assumption […]

Royal Dutch Shell plc Confirms Deal With Morgan Stanley: Shares Up 2%

By: MICHEAL KAUFMAN: Jul 11, 2015 Royal Dutch Shell plc (NYSE:RDS.A) plans to establish a strong footing in the natural gas sector. In April 2015, the company finalized its $70-billion deal with BG Group plc (OTCMKTS:BRGYY). If approved by the regulatory authorities, the merger will give Shell access to BG Group’s valuable assets in Brazil and […]

Following Explosion, Shell Moerdijk Criticised by Dutch Safety Board

Enhanced Google Translation of a Reuters report published in Dutch on 9 July 2015 Shell has therefore not fulfilled the high expectations of safety management within the company. Shell Moerdijk should be more critical of security risks in the company. Thus concludes the Safety Board in a report on the explosion at the company’s plant on […]

Brazil clears Shell’s $70 bln purchase of BG

Brazil clears Shell’s $70 bln purchase of BG By Ron Bousso and Stephen Eisenhammer (Reuters) – Brazil gave the green light to oil major Royal Dutch Shell to buy smaller rival BG, advancing the $70 billion merger — the largest of the past decade — closer to completion in early 2016. Shell is set to […]

Shell’s ice management vessel damaged in Alaska

Wed Jul 8, 2015 12:46am IST Royal Dutch Shell Plc’s icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company’s plan to resume drilling in the Arctic later this month. Shell said in June it plans to restart drilling for oil in the […]

U.S. activists to protest against Shell Arctic oil rig

U.S. activists to protest against Shell Arctic oil rig SEATTLE: 30 June 2015 U.S. environmental activists said they planned to protest on Tuesday against the launch of the second of two oil rigs central to Shell’s plans to drill for oil in the Arctic. The Washington state activists, who have staged frequent demonstrations over the […]

Shell says could begin Arctic oil exploration off Alaska in late July

Shell says could begin Arctic oil exploration off Alaska in late July SEATTLE/WASHINGTON | BY ERIC M. JOHNSON AND TIMOTHY GARDNER: Mon Jun 29, 2015 Royal Dutch Shell could begin drilling for oil in the Arctic off Alaska as early as the third week in July, when it expects sea ice to begin clearing, a […]

Shell Executives Visit Tehran for Projects If Sanctions End

by Javier Blas 24 June 2015 Royal Dutch Shell Plc executives have visited Tehran to discuss possible partnerships, the latest sign that the largest oil companies are serious about returning to Iran once a deal on the country’s nuclear program is done. The meeting with Iranian officials covered its outstanding debt to National Iranian Oil Co. […]

Shell’s Arctic plan counters U.S. walrus protections -green groups

“There does not appear to be any way that the federal government can allow Shell to proceed as the company has planned…” 23 June 2015 WASHINGTON (Reuters) – Green groups urged the U.S. Department of Interior on Tuesday to revoke the agency’s conditional approval of Royal Dutch Shell’s 2015 Arctic oil exploration plan, saying it […]

Gazprom-Shell Partnership Flies In The Face Of Sanctions

Charles Kennedy: Mon, 22 June 2015 Russian energy giant Gazprom is building up a global portfolio with a western oil major. Gazprom and Royal Dutch Shell are teaming up on several energy projects that will benefit both. The two energy companies have agreed to build an expansion of the Nord Stream Pipeline, a major natural gas […]

Gazprom set to build global strategic alliance with Shell

A Gazprom logo is displayed above its headquarters in Moscow. Gazprom is building a global strategic alliance with energy major Royal Dutch Shell that will include asset swaps and allow the Russian gas giant to penetrate new markets. The deal with Shell is a coup for Gazprom at a time when many Western companies are […]

Gazprom, Shell agree to expand Sakhalin-2 project

Gazprom, Shell agree to expand Sakhalin-2 project Thu Jun 18, 2015 (Reuters) – Russian gas producer Gazprom and Royal Dutch Shell have signed an agreement to expand the Sakhalin-2 LNG project, Gazprom said in a statement on Thursday. The Sakhalin-2 project, Russia’s sole LNG plant, has a current annual capacity of around 10 million tonnes. […]

Shell-led Canadian LNG deal gets environmental approvals

Shell-led Canadian LNG deal gets environmental approvals Thursday Jun 18, 2015 By Julie Gordon (Reuters) – Canada’s environment ministry said on Wednesday it approved a Royal Dutch Shell Plc-led liquefied natural gas export terminal on British Columbia’s coast, contingent on the project meeting 50 environmental, social and operational conditions. In her decision, federal Environment Minister […]

Low oil price hits $200 billion in mega-projects

* Ernst and Young say more project delays likely * Say at least 24 projects worth more than $1 bln put on ice By Ron Bousso LONDON, June 16 (Reuters) – Deepwater oil projects and complex gas facilities worth around $200 billion have been cancelled or put on hold worldwide in recent months due to […]

Shell, Japan firms may get stake in Gazprom’s Baltic LNG: Report

Shell, Japan firms may get stake in Gazprom’s Baltic LNG: Report By Reuters | 17 Jun, 2015 MOSCOW:Russian gas company Gazprom may offer up to 49 percent in its Baltic LNG project to a strategic partner and the most likely candidates are Royal Dutch Shell or a consortium of Japanese firms, Russia’s Kommersant newspaper said […]

Shell-BG $70 billion deal crosses key milestone with U.S. clearance

Shell-BG $70 billion deal crosses key milestone with U.S. clearance LONDON | BY RON BOUSSO: Tuesday Jun 16, 2015  U.S. regulators have given the green light for Royal Dutch Shell’s (RDSa.L) proposed $70 billion acquisition of British rival BG Group (BG.L), the first clearance for the biggest deal in the energy sector in over a decade. […]

Shell gets environmental ok for Canada offshore drilling project

Shell gets environmental ok for Canada offshore drilling project Markets | Mon Jun 15, 2015  Canada’s environment ministry on Monday said it had approved an East Coast offshore drilling project led by Royal Dutch Shell Plc, saying the exploration project was “not likely to cause significant adverse environmental effects.” The approval is contingent on the […]

Shell removing non-essential workers from Gulf of Mexico

Shell removing non-essential workers from Gulf of Mexico Markets | Sun Jun 14, 2015 9:50pm EDT (Reuters) – Leading Gulf of Mexico oil producer Shell Oil Co, the U.S. arm of Royal Dutch Shell Plc , said it was removing non-essential workers from offshore platforms as a precautionary measure ahead of a low-pressure storm system […]

Arctic drilling opponents hanging from Shell ship in Washington state

Arctic drilling opponents hanging from Shell ship in Washington state Seattle, June 12, 2015 Two activists strapped themselves on Friday to the anchor chain of a Shell Royal Dutch Shell vessel docked in Washington state that will be part of a fleet sent north to Alaska to resume drilling for oil and gas in the […]

First vessel in Shell’s Arctic drilling fleet heads for Alaska

First vessel in Shell’s Arctic drilling fleet heads for Alaska SEATTLE, JUNE 11 | BY VICTORIA CAVALIERE The first vessel in Royal Dutch Shell’s Arctic drilling fleet has embarked from Washington state to Alaska ahead of its planned resumption of oil and gas exploration in the remote region this summer, the company said on Thursday. […]

U.S. appeals court rejects challenge to Shell spill plans in Alaska

U.S. appeals court rejects challenge to Shell spill plans in Alaska Business News | Thu Jun 11, 2015 3:47pm BST A divided federal appeals court rejected an effort by environmental groups to void a U.S. agency’s approval of two oil spill response plans by Royal Dutch Shell Plc (RDSa.L) related to the company’s oil leases […]

Shell considers pulling plug on final Ukraine exploration well

Shell considers pulling plug on final Ukraine exploration well Commodities | Thu Jun 11, 2015 12:11pm BST Oil major Shell is considering withdrawing from its last exploration well in Ukraine as the project has been on hold for nearly a year due to the conflict between pro-Russian separatists and Ukrainian forces. Shell said it has […]