Royal Dutch Shell Plc  .com Rotating Header Image

Posts under ‘Reuters’

Shell’s operations seen boosted by U.S. tax overhaul

Dec 27 (Reuters) – Royal Dutch Shell Plc said it expects recently enacted U.S. tax reform legislation to have a “favorable” impact on its operations. The change in U.S. tax legislation, which is a reduction to 21 percent from 35 percent, will affect Shell’s fourth-quarter 2017 results but added the “analysis of the actual impact is not yet complete.” The Anglo-Dutch company said it expects to provide details of the impact of the tax reform, which is effective from Jan. 1, in its fourth-quarter 2017 results. FULL ARTICLE read more

Italy judge orders Shell, Eni to stand trial on alleged corruption in Nigeria

MILAN, Dec 20 (Reuters) – An Italian judge has ordered oil majors Royal Dutch Shell and Eni to stand trial over alleged corruption in Nigeria with the CEO of Eni among past and present managers involved, legal sources said on Wednesday.

The judge set March 5 as the date for the trial to begin, the sources said.

All the parties involved have previously denied any wrongdoing.

The case revolves around the purchase in 2011 of Nigeria’s OPL-245 offshore oil block by Eni and Shell for about $1.3 billion. read more

Oil workers sue Shell over Gulf of Mexico platform fire

REUTERS STAFF: 18 DECEMBER 2017

HOUSTON (Reuters) – Three offshore oil workers filed a lawsuit against units of Royal Dutch Shell and Enbridge, seeking $1 million in damages for injuries they allegedly received during a Nov. 8 fire on a U.S. Gulf of Mexico production platform. The suit, filed in Galveston County court in Texas on Dec. 5, claims safety lapses on Shell’s Enchilada platform caused severe injuries to the three. The complaint seeks more than $1 million in damages from Shell International Exploration and Production, Shell Offshore, and Garden Banks Gas Pipeline Co, a unit of Enbridge, which owns a gas pipeline connected to the platform. read more

Oil stable on tighter market, but rising US output looms for 2018

BY HENNING GLOYSTEIN: DECEMBER 15, 2017

* OPEC-led supply cuts, Forties pipeline outage support crude

* But rising U.S. output, driven by shale, weighs on market

SINGAPORE, Dec 15 (Reuters) – Oil markets were stable on Friday as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further. U.S. West Texas Intermediate (WTI) crude futures were at $57.13 a barrel at 0119 GMT, up 9 cents from their last settlement. read more

Norway parties inclined to back fund’s plan to slash oil exposure -report

REUTERS STAFF: DECEMBER 12, 2017

OSLO, Dec 12 (Reuters) – Norway’s $1 trillion sovereign wealth fund, the world’s largest, will probably win backing from parliament for its proposal to cut most oil and gas stocks from its portfolio, business daily Dagens Naeringsliv reported on Tuesday. If adopted by parliament, the fund would over time divest billions of dollars from oil and gas stocks, which now represent 6 percent – or around $37 billion – of its benchmark equity index. The fund is among the top investors in a wide range of oil companies. At the end of 2016 it held 2.3 percent of Royal Dutch Shell, 1.7 percent of BP, 0.9 percent of Chevron and 0.8 percent of Exxon Mobil. FULL ARTICLE read more

Shell News 11 Dec 2017

Reuters: Shell says fire extinguished at Singapore refinery-petchem plant

FT: Corbyn backs call for MPs’ pension fund to divest fossil fuels: Labour leader and shadow chancellor have swung their support behind Divest Parliament, a group trying to force the Parliamentary Contributory Pension Fund to drop investments in fossil fuels, including a £5.6m stake in BP and £5m of shares in Royal Dutch Shell.

ExxonMobil, Chevron, Shell paid no tax in Australia for 2016

Chevron reported A$2.1 billion in income for 2016 and paid no tax, while Shell Energy Holdings Australia – a unit of Royal Dutch Shell (RDSa.L) – reported A$4.2 billion in income and A$97 million in taxable income, but paid no tax. FULL ARTICLE

Shell to take first LNG shipments from new U.S. Cove Point plant

Reuters Staff: DECEMBER 6, 2017 / 12:27 PM

LONDON, Dec 6 (Reuters) – Royal Dutch Shell will take the initial cargoes of liquefied natural gas (LNG) shipped from Dominion Energy’s new Cove Point export facility in Maryland after providing the plant’s feed gas supply, Dominion Energy said on Tuesday. So-called commissioning cargoes during the ramp-up phase of an LNG export plant can vary in quality and teething problems can prompt delays. Dominion said it began introducing feed gas supply into the plant on Tuesday. The gas is sourced from Shell North America, it said. Cheniere Energy brought online its Sabine Pass project in Louisiana last year. SOURCE read more

Law firm seeks criminal case against Shell and its CEO over Nigeria deal

Libby George: DECEMBER 5, 2017

LONDON (Reuters) – A Dutch law firm has asked the public prosecutor in the Netherlands to file a case against Royal Dutch Shell, its CEO and former executives of over what it says were criminal actions relating to a 2011 oilfield purchase in Nigeria.

The Dutch authorities are already investigating the oilfield deal, alongside Italian prosecutors, who want to take Shell and Italy’s Eni to trial over alleged corruption on the same oilfield.

Shell and Eni have denied any wrongdoing. Shell said on Tuesday it did not believe there was any basis to prosecute the company or any current or former employee. read more

Shell, PetroChina jv paves way towards big gas development in Australia

Reuters Staff: December 1, 2017

MELBOURNE (Reuters) – Royal Dutch Shell (RDSa.L) and PetroChina (601857.SS) have taken a big step towards a long awaited gas development in Australia, signing a 27-year deal to supply Shell’s Queensland Curtis Liquefied Natural Gas (QCLNG) project. The deal would bring to market about 5 trillion cubic feet of gas held by Shell and PetroChina’s Arrow Energy in the state of Queensland, Arrow said. FULL ARTICLE

China LNG imports set to hit record in Nov, push up prices

With Royal Dutch Shell’s Prelude floating LNG project in Western Australia and Ichthys, a massive project led by Japan’s Inpex in the north of Australia, about to be completed, Australia’s export capacity could hit 85 million tonnes next year, topping that of current leader Qatar. read more

China LNG imports set to hit record in Nov, push up prices

With Royal Dutch Shell’s Prelude floating LNG project in Western Australia and Ichthys, a massive project led by Japan’s Inpex in the north of Australia, about to be completed, Australia’s export capacity could hit 85 million tonnes next year, topping that of current leader Qatar. read more

Shell signals return to pure cash dividend, focus on renewables

FILE PHOTO: Ben van Beurden, chief executive officer of Royal Dutch Shell, speaks during a news conference in Rio de Janeiro, Brazil, February 15, 2016. REUTERS/Sergio Moraes /File Photo

Ron Bousso: NOVEMBER 18, 2017

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) will return to paying pure cash dividends and step up its investment in cleaner energy as it turns a corner after more than two years of cost cuts and disposals prompted by weak oil prices. Shell Chief Executive Officer Ben van Beurden sought to strike a balance between reassuring investors it can increase returns in its core fossil fuel business during an “era of volatility” in oil prices while preparing to step up investments in renewables. FULL ARTICLE read more

Pressured for profit, oil majors bet big on shale technology

Shell, in an initiative called “iShale,” has marshaled technology from a dozen oilfield suppliers, including devices from subsea specialist TechnipFMC Plc that separate fracking sand from oil and well-control software from Emerson Electric Co, to bring more automation and data analysis to shale operations.

Ernest Scheyder: NOVEMBER 28, 2017

HOUSTON (Reuters) – Shale oil engineer Oscar Portillo spends his days drilling as many as five wells at once – without ever setting foot on a rig. Part of a team working to cut the cost of drilling a new shale well by a third, Portillo works from a Royal Dutch Shell Plc office in suburban Houston, his eyes darting among 13 monitors flashing data on speed, temperature and other metrics as he helps control rigs more than 500 miles (805 km) away in the Permian Basin, the largest U.S. oilfield. FULL ARTICLE read more

Shell and carmakers aim to go the distance with highway charging

Ron Bousso: NOVEMBER 27, 2017

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) has partnered with top carmakers to deploy ultra-fast chargers on Europe’s highways, stealing a march on rivals in the race to remove one of the biggest obstacles facing the electric car sector. Shell’s agreement with IONITY – a joint venture between BMW (BMWG.DE), Daimler (DAIGn.DE), Ford (F.N) and Volkswagen (VOWG_p.DE) – will initially bring high-powered docks to 80 highway sites in 2019, it said in a statement. Power giants including France’s Engie (ENGIE.PA) and Germany’s E.ON (EONGn.DE), as well as niche players such as U.S. start-up ChargePoint, are all building vehicle-charging networks in Europe, but Shell says the IONITY technology is key to addressing the problem of journey distances. FULL ARTICLE read more

Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell

By Tsvetana Paraskova – Nov 22, 2017, 4:00 PM CST

In a bid to reduce gas flaring and pay off outstanding reparations for the 1990 invasion of Kuwait, Iraq has hired Japanese firm Toyo Engineering to help it build a gas pipeline to Kuwait, in what could be a blow to Shell’s gas ambitions in Iraq, industry sources tell Reuters. “Iraq is furious at Shell and prospects don’t look that great for the Basra gas company,” according to an Iraqi industry source. FULL ARTICLE

%d bloggers like this: