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Posts under ‘Reuters’

Not dead yet: Home of Brent crude gets new lease of life

Ron BoussoShadia Nasralla: JULY 18, 2018

LONDON (Reuters) – Oil giant BP’s Eastern Trough Area Project off the coast of Scotland wasn’t supposed to be viable beyond 2018. But government and industry working together have given ETAP a new lease of life that is being closely watched by countries and companies eyeing other ageing projects around the world. When ETAP was launched 20 years ago today, some experts predicted the UK sector of the North Sea would cease most production by 2030. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Russia’s grasp on EU gas tightens despite Trump slating Germany

Mr Trump last year signed a law giving him the right to impose sanctions on companies involved in the Nord Stream 2 pipeline project. Royal Dutch Shell, BASF’s Wintershall unit, Uniper, OMV and Engie have agreed to provide Russia’s Gazprom with financing for the €9.5bn pipeline and could be at risk of penalties.

Elena MaznevaMargaret Talev and Naureen S Malik: 18 July 2018

US President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism of Germany he’d levied in Europe last week. “We are going to be selling LNG and will have to be competing with the pipeline and I think we’ll compete successfully, although there is a little advantage locationally” because Russia is closer to buyers in Europe, Mr Trump told reporters at a news conference with Mr Putin after their meeting in Helsinki on Monday. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell shuts down Norway’s Knarr oil and gas field due to strike

REUTERS STAFF: 10 JULY 2018

OSLO (Reuters) – Royal Dutch Shell (RDSa.L) is shutting down production at its Knarr field in the North Sea after workers walked out on strike on Tuesday, the company said.

“As a result of the strike, Knarr is closing its production in the Norwegian North Sea,” said Shell spokeswoman Kitty Eide. “We started shutdown operations this morning and to complete them can take up to 36 hours. As soon as the strike is over, we will restart production. No other fields or platforms that we are operator of are affected by the strike.”

Production at Knarr is 3,800 standard cubic metres of oil equivalents. It produces mostly oil, with some natural gas liquids and gas production.

The partners in the Knarr field are Japan’s Idemitsu (5019.T), Wintershall [WINT.UL] and DEA, according to data from the Norwegian Petroleum Directorate. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell CEO says ‘foolhardy’ to set carbon reduction targets

Shell CEO says ‘foolhardy’ to set carbon reduction targets

Ron Bousso: JULY 5, 2018

LONDON (Reuters) – Royal Dutch Shell’s boss said it would be “foolhardy” for the oil and gas producer to set hard targets to reduce carbon emissions as it risked exposing the energy giant to legal challenges.

The energy industry has struggled in recent years to find a clear path to secure its role as the world shifts from fossil fuels in order to meet the 2015 Paris climate agreement goals.

Shell Chief Executive Officer Ben van Beurden last year set out ambitions last year to halve its carbon emissions by 2050, far exceeding rivals. But the Dutch CEO resisted calls by activists and some investors to set binding targets. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell-Partners consortium ready to build Dutch offshore wind farm

Shell-Partners consortium ready to build Dutch offshore wind farm

Reuters Staff: JUNE 28, 2018

AMSTERDAM (Reuters) – A consortium led by Swiss investor Partners Group and Royal Dutch Shell said it has secured financing for the building of a 1.3 billion euros ($1.5 billion) wind farm in the Dutch part of the North Sea.

Shell and consortium partners Eneco, Van Oord and Mitsubishi/DGE were awarded the “Borssele 3 and 4” project in December 2016, at what at the time was the Netherlands’ lowest-ever strike price of 54.50 euro cents per megawatt-hour.

Building of the wind farm, which will have the capacity to power around 825,000 households, will start in the fourth quarter of 2019, with production expected to begin in 2021. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

U.S. court dismisses climate change lawsuits against oil companies

U.S. court dismisses climate change lawsuits against oil companies

Reuters Staff: JUNE 26, 2018

(Reuters) – A federal court in California dismissed climate change lawsuits by the cities of San Francisco and Oakland against five oil companies, saying the complaints required foreign and domestic policy decisions that were outside its purview. San Francisco and Oakland sued Chevron Corp, Exxon Mobil Corp, ConocoPhillips, Royal Dutch Shell Plc, and BP Plc last year seeking an abatement fund to help the cities address flooding they said was a result of climate change. Judge William Alsup of the U.S. District Court for the Northern District of California said in the ruling that the dangers raised by the complainants were real and worldwide, and both parties accepted the science behind global warming. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell, Exxon not to seek compensation for end of Groningen gas production: government

Shell, Exxon not to seek compensation for end of Groningen gas production: government

Reuters Staff: Monday June 25, 2018

AMSTERDAM (Reuters) – Energy companies Royal Dutch Shell and Exxon Mobil will not submit a claim for missed revenue due to the Dutch government’s decision to halt gas production at the Groningen field by 2030, the Dutch ministry of Economic Affairs said on Monday.

“A lot of gas will be left in the ground,” Economy minister Eric Wiebes said at the presentation of his deal with the oil majors responsible for extracting Groningen gas.

“That gas is the property of the oil companies, but they will not submit a claim and the government is not required to compensate them.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Malaysia’s Petronas buys 25 percent stake in LNG Canada project

Shell will continue to be the biggest owner in LNG Canada, holding a 40 percent stake.

Reuters Staff: MAY 31, 2018

SINGAPORE (Reuters) – Malaysia’s state-owned oil and gas company Petroliam Nasional Bhd [PETR.UL] said on Thursday it is buying a 25 percent stake in a Canadian liquefied natural gas (LNG) export project, nearly a year after cancelling its own planned terminal. The company, known as Petronas, will buy an equity stake in LNG Canada, an export project led by Royal Dutch Shell located in Kitimat, British Columbia, said Petronas in a statement. The purchase is expected to close in the next few months, the company said. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Friends of the Earth says to sue Shell over climate change

Reuters Staff: Tuesday 29 May 2018

LONDON (Reuters) – Friends of the Earth plans to file a lawsuit against Royal Dutch Shell (RDSa.L), accusing the oil company of failing to act on climate change, the environmental activist group said on Tuesday.

Shell has set out “ambitions” to halve carbon emissions by 2050 and expand in renewables, but the Anglo-Dutch company has come under pressure from investors and activists to reduce its carbon footprint and comply with the 2015 international Paris climate agreement. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Nigeria’s Bodo community claims win over Shell after latest UK court ruling

REUTERS STAFF: MAY 24, 2018

By Estelle Shirbon

LONDON, May 24 (Reuters) – A British judge ruled on Thursday that Nigeria’s Bodo community, which has been involved in a protracted legal battle with Shell over the clean-up of two 2008 oil spills, should retain the option of litigation for another year.

Lawyers for Bodo had accused Shell of trying to kill off the legal case by seeking a court order that would have meant the community had to meet onerous conditions before it could revive its litigation, which is currently on hold. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

German solar battery maker sonnen secures Shell cash to expand

Vera Eckert: May 23, 2018

FRANKFURT (Reuters) – German solar battery maker sonnen has secured 60 million euros ($71 million) in funds from Shell Ventures and existing shareholders to expand at home and abroad. Shell Ventures, a unit of the Anglo-Dutch oil major that has been boosting its investments in solar and other renewables, was a lead investor in the latest funding round, sonnen Chief executive Christoph Ostermann told Reuters. “With this money, we can get started on important investment plans, especially in the United States and Australia,” he said, adding that existing shareholders also contributed extra cash. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell’s oil spill dispute with Nigeria’s Bodo villagers back in UK court

Estelle Shirbon: MAY 22, 2018

LONDON (Reuters) – Lawyers for the Bodo community in Nigeria’s oil-producing Niger Delta, which was devastated by two major oil spills a decade ago, went to court in London on Tuesday to fend off what they said was an attempt by Shell to kill off their litigation.

The Bodo oil spills have been the subject of years of legal wrangling. In 2015, Shell accepted liability for the spills, agreeing to pay 55 million pounds ($83 million at the time) to Bodo villagers and to clean up their lands and waterways. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell shareholders adopt CEO pay by 75 percent majority

FILE PHOTO: Ben van Beurden, CEO of Royal Dutch Shell company, speaks during a meeting with Russian President Vladimir Putin in Moscow, Russia June 21, 2017. REUTERS/Sergei Karpukhin

Reuters Staff: May 22, 2018

THE HAGUE (Reuters) – Royal Dutch Shell (RDSa.L) shareholders on Tuesday approved the 2017 management remuneration, including Chief Executive Officer Ben van Beurden’s 8.9 million euro ($10.51 million) package, by a majority of 75 percent.

The 2016 remuneration resolution won the support of more than 92 percent of shareholders. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Investors turn up heat on Shell over climate targets

Ron Bousso: MAY 22, 2018

THE HAGUE (Reuters) – Top investors in Royal Dutch Shell on Tuesday stepped up pressure on the oil and gas giant to commit to hard targets to reduce greenhouse gas emissions to battle climate change.

Shell has set out “ambitions” to halve carbon emissions by 2050 and expand in renewables energy, which Chief Executive Officer Ben van Beurden said were ground breaking for the oil industry.

To view a graphic on Shell emissions, click: reut.rs/2Iya7Hf

“Nobody else comes close, it is seriously ambitious,” van Beurden said of Shell’s plan at the company’s annual general meeting in The Hague. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

LNG Canada committed to starting construction on project in 2018: CEO

Julie Gordon: MAY 15, 2018

VANCOUVER (Reuters) – The chief executive of the LNG Canada project on British Columbia’s northern coast said on Tuesday that the company was committed to starting construction on the C$40 billion ($31.1 billion) liquefied natural gas export project this year. An investment decision on the terminal was delayed in 2016, due to sagging oil prices that hit cash flows, along with an unfavorable supply-demand outlook, but remains on track for 2018, Andy Calitz said at an LNG conference on Tuesday. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell, Eni trial on Nigeria corruption re-adjourned to June

Reuters Staff: MAY 14, 2018

MILAN (Reuters) – The trial of top executives from oil majors Eni (ENI.MI) and Shell (RDSa.L) over alleged corruption in Nigeria kicked off on Monday with a brief procedural hearing and a decision to re-adjourn next month.

At the next hearing, set for June 20, the Milan court said it would assess requests from third parties, including a series of international non-profit organizations, to join the case.

At Monday’s hearing Domenico Cartoni Schittar, a lawyer representing the Nigerian government, said he was stepping down from his role.  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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