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Shell says can pump oil from Brazil’s pre-salt fields below $40/bbl

Simon WebbAlexandra Alper: OCTOBER 25, 2017

RIO DE JANEIRO (Reuters) – Royal Dutch Shell will participate in Brazil’s deepwater oilfield auction on Friday and is confident it can pump oil from the fields on offer for less than $40 a barrel, a top Shell executive said. Brazil will hold its first auction in four years for its pre-salt oilfields on Friday. The eight deepwater blocks on offer hold billions of barrels in reserves, and for the first time, Brazil will allow foreign oil firms to operate the fields in the region. Shell believes it could pump oil from the pre-salt fields below the company’s target breakeven cost of $40 per barrel, Wael Sawan, Executive Vice President for Shell’s deepwater division, told Reuters. The high quality of the reserves and the prolific output volume that the pre-salt wells can produce make them an attractive proposition, he said. FULL ARTICLE read more

Iraq may offer Total, Chevron terms different from Shell for Majnoon field development

OCTOBER 21, 2017

BAGHDAD (Reuters) – Iraq may offer Chevron (CVX.N) and Total (TOTF.PA) terms to develop the Majnoon oilfield different from those it had given to Royal Dutch Shell (RDSa.L), Iraqi Oil Minister Jabar al-Luaibi said on Saturday. Iraq will develop the Majnoon oil field in southern Iraqi by its own means until it can find a foreign partner, Luaibi told reporters, adding that no company has been selected yet. Luaibi said on Oct. 9 that Chevron and Total are among the companies that have expressed interest in developing Majnoon that Shell has said it wants to leave because of unfavourable changes to fiscal terms. Reporting by Ahmed Rasheed, writing by Maher Chmaytelli; Editing by Angus MacSwan. SOURCE read more

Shell buys NewMotion charging network in first electric vehicle deal

Karolin Schaps: OCTOBER 12, 2017 / 1:23 PM

AMSTERDAM (Reuters) – Royal Dutch Shell (RDSa.L) has agreed to buy Dutch-based NewMotion, the owner of one of Europe’s largest electric vehicle charging networks, marking the company’s first deal in electric mobility as demand for cleaner vehicles is expected to soar. Shell said NewMotion, which manages over 30,000 charging points for electric vehicles in Western Europe and offers access to thousands more, will operate in parallel to Shell’s program of rolling out fast charging points at its forecourts. “They’re complementary offers. One is fast charging on the go on the forecourt and the other is a slightly slower rate of charge at the workplace or at home. At this stage there are no plans to integrate the two,” Shell’s vice-president for new fuels, Matthew Tipper, told journalists. Shell is installing electric vehicle charging points at retail stations in Britain, the Netherlands, Norway and the Philippines. FULL ARTICLE read more

Statoil, Shell and Total to store CO2 offshore Norway

Oct. 2 (UPI) — Norwegian energy company Statoil said Monday it was leading a partnership aimed at advancing Paris climate efforts through carbon capture and storage. “Shell sees CCS as a transformative technology that can significantly reduce emissions from those industrial sectors that will continue to rely on hydrocarbons for decades to come,” added Monika Hausenblas, Shell’s executive vice president for environment and safety. FULL ARTICLE

Big Oil Becomes Greener With Cuts to Greenhouse Gas Pollution

The five biggest oil companies — Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., BP Plc and Total SA — collectively curbed their pollution by an average of 13 percent between 2010 and 2015, the report said. BP cut the most at 25.5 percent. Exxon, the largest emitter among listed companies, pushed it down by 14 percent. FULL ARTICLE

Kazakhstan may strike separate deal with OPEC on oil output curbs

By Mariya Gordeyeva: SEPTEMBER 7, 2017 / 2:28 PM

ASTANA, Sept 7 (Reuters) – Kazakhstan is aiming for a standalone deal with leading global oil producers on restraining its crude production due to a need to crank up output at its Kashagan field, a Kazakh official said on Thursday. The Central Asian nation increased oil and gas condensate output by 9.9 percent in January-July to 49.907 million tonnes, or 1.724 million barrels per day (bpd), exceeding its quota of 1.7 million bpd under a global supply pact. Kazakhstan has said it needs to adjust the terms of the deal as it expects to boost output later this year thanks to the giant Kashagan field. FULL ARTICLE read more

What You Missed in Royal Dutch Shell plc’s Quarterly Report

What Shell looks like now

There’s no question about how Royal Dutch Shell makes money. It is one of the world’s largest oil and natural gas drillers, with a large footprint in liquified natural gas. Oil and gas have been the driving force, broadly speaking, throughout all of the company’s over 100-years of existence. Investor questions generally focus on what management is doing to support and grow its core operations. FULL ARTICLE

Big Oil Follows Silicon Valley Into Backing Green Energy Firms

Major oil companies are joining Silicon Valley in backing energy-technology start-ups, a signal that that those with the deepest pockets in the industry are casting around for a new strategy. From Royal Dutch Shell Plc to Total SA and Exxon Mobil Corp., the biggest investor-owned oil companies are dribbling money into ventures probing the edge of energy technologies. The investments go beyond wind and solar power into projects that improve electricity grids and brew new fuels from renewable resources. read more

Shell Prepares For A Different Energy Reality

: 14 August 2017

Summary

  • This summer has seen the governments of several of the world’s major economies propose to eliminate internal combustion engine vehicles over the next 10-30 years.
  • At the same time, Royal Dutch Shell announced several major clean energy investments over the summer in anticipation of a drop-off in petroleum demand.
  • This article looks at how Shell’s clean energy investments fit into its energy profile forecasts compared to its peers. MAIN ARTICLE
  • read more

    Oil Companies at Last See Path to Profits After Painful Spell

    ABERDEEN, Scotland — This port city built of granite on the North Sea has taken a battering in recent years. Plunging oil prices hit the petroleum industry, which dominates the economy. Tens of thousands of jobs were slashed. Projects worth billions of dollars were sent back to the drawing board. Oil executives here now speak with a relief similar to survivors of a fierce storm. When oil prices fell, the industry scrambled to adjust. It initially relied on tried-and-true tactics: cutting jobs and investment. But then companies realized they had to go further, starting a far-reaching reworking of their businesses to embrace new technologies and construction methods to stretch each dollar just a little more. The result has been drastically lower operating costs and higher cash flows. Learning to live in a weaker oil price environment gives them upside if prices firm up. This shift was borne out in recent days as major oil companies, including Chevron, Exxon Mobil, Royal Dutch Shelland Total, reported much healthier results. FULL ARTICLE read more

    Europe’s Oil Giants Recover From Three-Year Slump

    After false dawn, Big Oil to double down on cost cuts

    The majors, often dubbed Big Oil, have already been through tough spending cuts since a collapse in crude prices since mid-2014 from above $100. They have shed thousands of jobs, scrapped projects, sold assets and squeezed service costs.

    FULL ARTICLE

    Oil Thieves Force Nigerian Pumping Station To Shutter

    Oil thieves are bringing Nigerian crude oil pumping stations to their knees, according to a new report from World Oil.

    FULL ARTICLE

    Nigeria Oil Thieves Keep a Lid on Output Even as Bombs Abate

    As much as 30 percent of the oil sent by pipelines through the swampy Niger River delta is stolen… The 60,000-barrel-a-day flow station, owned by Royal Dutch Shell Plc’s Nigerian unit and idle for most of June, illustrates the nation’s struggle to restore deliveries of its most vital resource. Even after the government quelled a militant uprising that sent production to a 30-year low last August, smaller-scale sabotage caused by people trying to steal oil remains rife.

    FULL ARTICLE BY PAUL WALLACE read more

    Shell News 17 July 2017

    Shell to operate fast charging at selected Shell stations in the Netherlands and in the United Kingdom: Automotive World: 17 July 2017 read more

    Shell News Update 5 July 2017

    Qatar signals LNG price war for market share in Asia: Reuters: 5 July 2017

    U.S. and European oil majors such as Royal Dutch Shell and Chevron have invested huge sums over the last decade – often more than they have spent on oil – in an attempt to dominate the LNG market, especially through mega-projects in Australia such as Chevron’s Gorgon or Shell’s Prelude.

    Oil majors lost $115 billion in market value since April: OilPrice.com: 5 July 2017

    ExxonMobil, Chevron, Total, Royal Dutch Shell, and British Petroleum are the five biggest players on the index, which includes 85 other majors. Together, they have lost $115 billion in market value since the beginning of April, Bloomberg reports, according to World Oil. read more

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