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Nigeria arrests militant behind oil attacks

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The Department of State Service (DSS) said it arrested a man named Jones Abiri who uses the alias General Akotebe Darikoro.

The arrest took place on Thursday in Yenagoa in southern Nigeria, amid “ongoing tactical operations to degrade the capabilities and hideouts of criminal gangs” in the country.

The DSS claimed the militant confessed to attacking pipelines operated by Agip — the Nigerian subsidiary of Italy’s Eni — and Anglo-Dutch oil group Shell.

Several recent attacks, including assaults on pipelines operated by Shell and Agip, have been claimed by a militant group named the Niger Delta Avengers (NDA).

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Santa Cruz County prosecutors win judgment against Shell Oil gift cards

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Screen Shot 2016-06-30 at 18.15.43By Stephen Baxter, Santa Cruz Sentinel: 07/23/2016 

SANTA CRUZ — The Santa Cruz County District Attorney’s Office and prosecutors from six other counties won a $762,500 false advertising judgment against Shell Oil’s fuel rewards program on Thursday.

The lawsuit alleged that Shell failed to adequately disclose that discounts from fuel rewards cards and gift cards could not be combined, said Santa Cruz County prosecutor Douglas Allen. Second, it alleged that not all Shell gas stations honored the cards and the company failed to redeem gift cards with balances of less than $10. It also “falsely advertised that certain gift cards could ‘be used like cash’ when Shell knew or should have known some stations were charging customers the credit price for gasoline when purchasing with a gift card,” Allen said.

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2 Red Flags on Royal Dutch Shell’s Cash Flow Statement

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Reuben Gregg BrewerJul 22, 2016 at 1:16PM

Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B) has been hit just as hard by the oil industry downturn as any other oil major. So far, though, it’s managed to keep its dividend intact. Still, the company’s cash flow statement bears watching, because keeping that dividend going is getting harder to pull off. Here are two red flags to watch on Royal Dutch Shell’s cash flow statement.   

Cash flow, not earnings

Shell’s earnings cratered following the mid-2014 oil price drop, going from around $3.00 a share in 2014 to just $0.60 or so last year. (Note that the U.S. traded ADRs represent two shares of Shell stock, so these figures and all of the other per share numbers in the text, which are based on one share of stock, may be half of what you expect to see if you own the ADR.) In the first quarter of this year, the integrated oil giant only earned about a dime a share. Clearly, things aren’t going well for Shell’s business right now. That’s understandable, since oil and natural gas prices play a big part in the company’s results, but there are implications to the bottom-line decline.  

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Next Week Is as Good as It Gets for Big Oil

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ByRakteem Katakey and Joe Carroll: 22 July 2016

Several majors expected to post highest earnings in 3 quarters

Strong performance may not last as oil seen easing back to $40

For oil companies, the second quarter might be as good as it gets.

Shares gained more than in any other industry, thanks to crude rising from a 12-year low. Profits were the best in at least three quarters for majors including Royal Dutch Shell Plc, Chevron Corp. and BP Plc, helped by cost cuts, analysts say. The rest of the year might not be as rosy as supply holds near record levels.

The combined market value of the world’s oil companies shrank by $2 trillion in the past two years following crude’s collapse. While analysts agree the worst of the oversupply is over, BNP Paribas SA and JBC Energy GmbH are among those forecasting a slide back to $40 a barrel as output rebounds in Canada, Iran, Nigeria and the U.S., hurting producers whose investment cuts have put future growth in doubt.

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Shell, Philippines’ $1.2B Tax Dispute Heads To World Bank

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By Bryan Koenig

Law360, Washington (July 21, 2016, 6:30 PM ET) — A Royal Dutch Shell PLC unit on Wednesday took its $1.2 billion tax recalculation dispute with the Philippines’ Commission on Audit over the gas-to-power Malampaya project the company operates to a World Bank arbitration dispute body.

The International Centre for Settlement of Investment Disputes records show that Shell Philippines Exploration BV initiated the arbitration proceedings, registered Wednesday, against the Republic of the Philippines over the taxation of a hydrocarbon concession.

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Shell to cut jobs in the Gulf of Mexico amid weak oil prices

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By Jennifer Larino, NOLA.com | The Times-Picayuneon July 21, 2016 at 3:55 PM, updated July 21, 2016 at 4:00 PM

Shell plans to cut, consolidate or relocate more than 150 offshore jobs in the Gulf of Mexico as part of an effort to shave 2,200 positions across its global operations this year. The restructure offshore follows job cuts at the company’s New Orleans office amid weak oil prices.

Shell has decided to move forward with “structural changes and personnel reductions” after reviewing its deepwater Gulf of Mexico operations, spokeswoman Kimberly Windon said in a statement emailed to NOLA.com | The Times-Picayune. Shell informed employees of its decision Thursday afternoon (July 21).

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Doesn’t this all seem rather improper?

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GRAY, LOUISIANA (PRWEB) JULY 20, 2016

Danos announces the hiring of Tom Broom as executive account manager. In this role, Broom will be responsible for overseeing and maintaining Danos’ long-term relationship with Shell.

“Tom is a perfect fit for Danos, said Executive Vice President Paul Danos. “His experience in the industry and long career with Shell make him the ideal person to oversee this relationship that has endured for 45 years.”

In 2015, Broom retired from Shell after a 35-year-career, most recently serving as director of coastal issues for Shell Exploration & Production Company. In that role he served as the inaugural director of a 25-person international team focused on collaborating with internal and external stakeholders on coastal management issues. Prior to that position he oversaw workforce development and construction risk mitigation and managed operations training for the United States, Canada and Brazil. He also supervised the daily operations of Shell’s Robert Training and Conference Center, the company’s primary operations training facility.

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Is Gas The Future? Shell Seems To Think So

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By Gregory Brew – Jul 20, 2016

The world’s second largest private oil company sees a new future, and it’s not in oil.

Shell has made a concerted effort to shift the bulk of its business from oil-related projects to natural gas, LNG and renewables. Coming on the heels of its February purchase of BG Group (a $54 billion acquisition), Shell has organized a division focused solely on renewable energy. It announced new investment for its LNG facility on Curtis Island in Australia, where natural gas has enjoyed $180 billion in new capital. It has emerged as a stronger voice on global climate change than its competitor ExxonMobil and the company’s website proposes a number of “Shell Scenarios” that could allow for a growing energy market while creating less CO2.

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Why Big Oil Is Still A Good Bet For Investors

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Screen Shot 2016-06-30 at 18.15.43By Michael McDonald – Jul 20, 2016, 2:23 PM CDT

Investors getting cold feet about the spiking price of Big Oil stocks over the last year may risk missing out on further gains, according to one top ranked analyst. Doug Terreson of Evercore, one of the top ranked oil analysts according to Institutional Investor magazine, is recommending that investors stick with integrated oil majors like Royal Dutch Shell, Chevron, and Exxon despite the run up in their prices.

Terreson’s thesis is that many of the catalysts for positive price performance remain in place. In particular, integrated oil companies have effectively reduced operating capital costs permanently, which lowers their breakeven expense to produce oil. The retort to this point of course is that Big Oil stocks may have cut costs but frackers have been much more successful than integrated majors in cutting their costs as a percentage of pre-crash production cost.

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Royal Dutch Shell: Huge Dividend And Long-Term Growth Ahead

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Wayne Duggan: 20 July 2016

A number of British stocks have been hit hard since the referendum vote to leave the EU, but Royal Dutch Shell (RDS.A, RDS.B) is not one of them. Shares are now up 0.3% since the Brexit vote after initially falling more than 8% during the knee-jerk market sell-off.

With the possibility that the Brexit could severely impact British GDP growth in coming years, RDS.B offers a unique opportunity to invest in a company within a sector that is in a global upswing, a company that has significant international exposure and a company that is committed to maintaining the single largest dividend payment in the MSCI World Index.

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Intrigue Over Alleged Shell Employee Fatality At Falk Prime Atlantic, in Nigeria?

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I have searched the web but, strangely, cannot find any information about the incident which one would have thought would have been widely reported. The nearest I got was your website and as you appear very knowledgeable about what goes on in Shell then I thought it might be worth contacting you. I have a professional interest in the incident and its background as there are many unanswered questions apart from the obvious attempts to keep it secret.

For example what was OPITO’s role, why are Royal Dutch Shell so agitated by the affair (to the extent they are insisting on draconian global safety measures  for all OPITO approved training establishments), why was no action taken against the training centre etc?

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JOHN DONOVAN SAR APPLICATION LETTER TO SHELL INTERNATIONAL LIMITED UNDER THE DATA PROTECTION ACT 1998

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LINK TO ARTICLE

Screen Shot 2016-07-20 at 10.23.39JOHN DONOVAN SAR APPLICATION LETTER TO SHELL INTERNATIONAL LIMITED UNDER THE DATA PROTECTION ACT 1998

19 July 2016

Mr. Gary Thomson SI-LSC/K
Shell International Limited
40 Bank Street
London E14 5NR

Dear Mr Thomson

Data Protection Act 1998 – Subject Access Request (SAR)

Thank you for your email dated 19 July 2016.

Please find enclosed completed application forms together with a postal order for £10 made out to Royal Dutch Shell Plc.

I obtained it before finding out that the fee can now instead be paid to a charity.

As you are aware, I operate royaldutchshellplc.com – a website focussed on the activities of Shell.

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The Future of Big Oil? At Shell, It’s Not Oil

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Screen Shot 2016-07-20 at 07.42.44The energy giant is shifting to gas as the industry adapts to climate change.

By Matthew CampbellRakteem Katakey and James Paton: 20 July 2016

At Australia’s Curtis Island, you can see Big Oil morphing into Big Gas. Just off the continent’s rugged northeastern coast lies a 667-acre liquefied natural gas (LNG) terminal owned by Royal Dutch Shell, an engineering feat of staggering complexity. Gas from more than 2,500 wells travels hundreds of miles by pipeline to the island, where it’s chilled and pumped into 10-story-high tanks before being loaded onto massive ships. “We’re more a gas company than an oil company,” says Ben van Beurden, Shell’s chief executive officer. “If you have to place bets, which we have to, I’d rather place them there.”

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Royal Dutch Shell: Does Everything Come Down to Oil Price Recovery?

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By Staff Writer on Jul 19, 2016 at 9:07 am EST

World’s leading integrated oil and gas company, Royal Dutch Shell plc (ADR) (NYSE:RDS.A), concluded a deal to acquire BG not too long ago. The move was widely perceived as an aggressive step to become a dominant supplier of liquefied natural gas (LNG) across the globe. The deal is expected to help Shell diversify its operations and enable it to benefit from cost synergies in the years to come.

The merger came at a time when oil prices were on a downward trajectory, with the step expected to drive the company out of the downturn. Oil prices that were once above $110 per barrel have now plunged below $50. Last year, when the Dutch company announced the deal, many mergers and acquisition pundits criticized Shell’s willingness to pay 50% premium in a depressed crude oil environment.

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How Lower Oil Prices, Brexit Are Impacting North Sea Operations

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By Muhammad Ali Khawar on Jul 19, 2016 at 7:35 am EST

Thanks to Brexit vote, the oil and gas markets are experiencing significant level of uncertainties. With UK now stepping out of the European Union, many oil and gas companies have reduced operations as they feel that demand may not be as robust as it used to be.

The North Sea is one of the highest cost regions in the world. With the recent development in the UK market, companies fear higher costs, which can derail operations in the region. As reported by Bloomberg, Wood Mackenzie, a consulting firm, has indicated that around 30% of the fields in the region are operating at a loss.

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Nigeria: Militants Bomb Shell Pipeline in Delta

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By Sylvester Idowu: 19 July 2016

Warri — Daring militants Monday blasted an oil pipeline belonging to the Shell Petroleum Development Company (SPDC) in Batan community in Warri South West Local Government area of Delta State.

Security sources told THISDAY that the incident occurred at SPDC Camp Five at about 1 a.m. with a huge fire enveloping the site of the attack.

“Suspected militants attacked the SPDC pipeline in Batan at about 1 a.m. with dynamites. As I am speaking, the place is engulfed with fire but efforts are being made to put it off,” one security source said.

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American Gas Will Be First to Pass Through Expanded Panama Canal

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Naureen Malik: July 19, 2016

Shell set to send tanker carrying U.S. LNG through canal

BP scheduled to send second tanker through the following day

The first cargo of liquefied natural gas set to pass through the newly expanded Panama Canal locks will be American.

Royal Dutch Shell Plc’s Maran Gas Apollonia vessel is scheduled to pass through the canal linking the Atlantic and Pacific oceans on July 25 after loading LNG from the U.S. Gulf Coast, according to the Panama Canal Authority, which oversees the locks’ operations. BP Plc’s British Merchant LNG tanker is expected to become the second to pass through the canal the following day and a third tanker is slated for early August, the agency said in a statement late Monday.

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Niger Delta Avengers Blow Up Shell Facility Again

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BY THE PUNCHJUL 18, 2016

Militant group, the Niger Delta Avengers, has once again attacked a crude oil trunkline belonging to the Shell Petroleum Development Company of Nigeria in Batan, Warri South West Council Area of Delta State.

It was gathered that the militants blew up the trunkline at 12:05am on Monday morning.

The fresh attack happened around Camp Three, few kilometres away from the spot where the militants had attacked oil installations early this month.

It took soldiers over five hours to locate the spot of the incident and confirm the attack.

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North Sea workers’ strike to ‘severely disrupt’ Shell operations – union

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Commodities | Mon Jul 18, 2016 6:10pm BST

* 24-hour strike on seven Shell platforms set for July 26

* To be followed by three-hour strikes in coming weeks

* Maintenance workers strike may not impact production

* Shell making contingency plans to ensure safety – source 

By Karolin Schaps

LONDON, July 18 A 24-hour strike of Wood Group oil and gas maintenance workers will “severely disrupt” operations at several Royal Dutch Shell platforms in the North Sea where they are employed, labour union Unite said on Monday.

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Barron’s: Shell is “the world’s best big oil stock”

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Jul 18 2016, 11:44 ET | By: Carl Surran, SA News Editor

Royal Dutch Shell (RDS.A +0.2%) appears barely affected by a Barron’s cover story this weekend which calls it “the world’s best big oil stock,” whose makeover could lift shares by more than 20% in a year even without a rise in oil prices.

Barron’s Jack Hough says Shell’s cost cuts and divestments look like more like a “recommitment to capitalism” rather than just an austerity drive, and has increased confidence in the company’s lofty 6.6% dividend yield.

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Getting Ready for Another Round of Commodity Market Downturn

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By Staff Writer on Jul 18, 2016 at 7:30 am EST

Crude oil prices have dropped below the $50 per barrel mark yet again after hitting their highest level in 2016 last month. US crude benchmark, West Texas Intermediate (WTI) is trading at $45.97 per barrel while Brent is trading at $47.69 per barrel in European Markets today. The global crude oil benchmark reached as high as $52.51 per barrel earlier in June.

Although oil prices have recovered some momentum after touching 12-year lows of $27 per barrel earlier in 2016, it still has a lot of ground to gain before reaching summer-2014 levels. Oil market showed some positive gains in June when oil prices crossed the psychological barrier of $50 per barrel. However, it was short-lived as it is currently trading below $48 per barrel.

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Shell with a full tank of debt

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By JACK HOUGH: JULY 16, 2016

A dash of desperation is working wonders for module article chiclet Royal Dutch Shell. The price of Brent crude oil has fallen by half in two years, pulling Shell’s cash flow from operations well below what it typically needs to pay its dividend and fund exploration. Meanwhile, the purchase of United Kingdom gas specialist BG Group, completed in February, left Shell with a full tank of debt.

Something had to give. Investors braced for a dividend cut, which is why the American depositary receipts (ticker: RDS.B) started the year priced low enough to yield 8%. But rather than reduce its payout, Shell slashed spending on projects and sold low-return businesses. Last month, it announced a capital plan through 2020 that calls for more asset sales and a limit on capital spending.

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Royal Dutch Shell Vs BP plc: Who’s Better Equipped to Tackle the Downturn?

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By Muhammad Ali Khawar on Jul 15, 2016 at 10:04 am EST

Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) finally closed its $52 billion merger with BG group in February. The deal is considered as one of the largest mergers in the oil and gas sector and is expected to help Shell diversify its operations and benefit from cost synergies.

The Shell-BG merger comes at a time when oil prices have plummeted significantly. Oil prices that once traded over $110 per barrel have now tumbled to as low as $50 per barrel. Last year, when Shell approached BG for the first time, many criticized the deal especially because of the 50% premium Shell was willing to pay in a depressed crude environment.

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Shell chair Andrew Smith vows to rein in costs as downturn bites

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ANDREW BURRELL: July 15, 2016

Shell Australia chairman Andrew Smith says the downturn in the oil and gas industry has strengthened his resolve to rein in costs as he seeks to integrate the company — the nation’s biggest foreign investor — with the Queensland assets of BG Group.

“You have to treat every dollar like it’s your own,” Smith tells The Deal, published in The Australian today, as he reflects on his 30-year career and the massive changes that have hit Shell and the petroleum industry. His mantra even extends, Smith’s colleagues reveal, to their boss’s insistence a few years ago that newspaper subscriptions be pared back in the company’s Melbourne office.

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Group braced for North Sea strike action

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Trade unions have accused the Anglo-Dutch oil major of recruiting ‘scab labour’ after advertisements appeared on job agency websites offering maintenance work on week-by-week contracts.

by Mary MorleyThursday, 14 Jul 2016, 09:09 BST

Royal Dutch Shell (LON:RDSA) is bracing for a strike on seven of its North Sea platforms after almost half of the workers voted in favour of industrial action. The dispute comes with energy companies struggling to keep the region competitive in the face of falling output and weak oil prices.

Shell’s share price has surged in London this morning, having jumped 1.27 percent to 2,114.50p as of 08:40 BST, outperforming the benchmark FTSE 100 index which currently stands 0.65 percent higher at 6,713.49 points. The group’s shares have gained just under 15 percent over the past year, and are up some 38 percent in the year-to-date.

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Shell UK VP says oil major “disappointed” over North Sea strike action

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Written by Niamh Burns – 13/07/2016 3:54 pm

The vice president of Shell’s UK and Ireland Upstream operations has said the oil major is “disappointed” after both Unite and RMT unions voted in support of strike action.

The move could mark the first industrial action of its kind in a generation.

It comes after more than 200 workers were balloted on whether they would support either strike action or action short of a strike.

Wood Group has also said it is “disappointed” by the decision of its staff.

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Shell, NNPC/NPDC And Niger Delta Cleanup: Who Owns OML 11 In Ogoniland?

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Shell, NNPC/NPDC And Niger Delta Cleanup: Who Owns OML 11 In Ogoniland?

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BY IFEANYI IZEZE: JUL 13, 2016

What is wrong with our government people that each time they act, you only see a bunch of tactless or outrightly naive actions? How do you reconcile that with the United Nation Environmental Programme (UNEP) – sponsored Ogoni clean-up exercise still neither here nor there despite the ceremonial flag-off by President Mohammadu Buhari, a government-owned oil company Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), could be moving ahead to re-enter the crisis area for oil production? Is the government feigning ignorance of the fact that re-commencement of oil exploitation activities or even the talk of it at this time in Ogoniland would undoubtedly incite protest against whoever is scheming to come in to mine oil?

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Wood maintenance workers back strike on Shell UK platforms

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Markets | Wed Jul 13, 2016 11:53am EDT

* Support for strike over pay and working conditions

* Shell platforms concerned include Brent, Shearwater

As many as seven of Royal Dutch Shell’s North Sea platforms could be hit by the first strike action in the basin in 10 years after Wood Group employees working on the facilities voted on Wednesday in favour of industrial action.

Wood Group workers are employed on Shell platforms to carry out maintenance work. A person familiar with the operations said this meant production from the platforms was unlikely to be affected by potential strikes in the short term.

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S&P trims rating on oil major

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by Tsveta ZikolovaWednesday, 13 Jul 2016, 14:09 BST

Standard & Poor’s has trimmed its rating on Royal Dutch Shell (LON:RDSA), the Financial Times has reported. The move has been prompted by the group’s £35-billion takeover of former smaller London-listed peer BG Group completed earlier this year.

Shell’s share price has been little changed in today’s session, having lost 0.07 percent to stand at 2,106.00p as of 13:25 BST. The shares are marginally underperforming the broader London market, with the benchmark FTSE 100 index having inched 0.12 percent higher to 6,688.62 points. Shell’s shares have gained nearly 16 percent over the past year, and are up just under 38 percent in the year-to-date.

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Shell North Sea strike: What we know so far

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Written by Niamh Burns – 13/07/2016 7:43 am

Oil workers could strike today for the first time in a generation after talks broke down between unions and Wood Group.

The move comes after oil major Shell found itself at the centre of the workforce dispute which has paved the way for industrial action.

BREAKING: RMT workers vote in support of strike action.

Unions decided to ballot their workers in May after initial talks regarding 30% pay cuts to eight of Shell’s North Sea platforms, including the Brent field, failed to provide a solution. It’s the third pay cut since 2014.

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Offshore workers vote backs strike action

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13 July 2016

Members of two unions at oil and gas company Wood Group have voted in favour of going on strike.

Unite and the RMT have been in dispute with the firm over what the trade unions have described as a “swingeing” proposed pay cut.

Unite’s ballot had a turnout of 86.6% and 99.1% voted for strike action, while 98.5% of the RMT’s turnout of 67% also backed taking the same action.

Wood Group said it was “extremely disappointed” by the results.

It said it has addressed every significant concern and a resolution to the dispute would safeguard jobs.

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Corrib flaring before court

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LIKE THE SUN A still image taken from a recording shows the glow from the flaring at the Corrib Gas terminal on New Year’s Eve.

EPA confirms issuing of summons

Áine Ryan: 12 JULY 2016

SHELL E&P Ireland will appear before Dublin Metropolitan District Court on September 5 next over an intense flaring incident at the controversial Corrib refinery on December 31 last, The Mayo News can confirm. The EPA (Environmental Protection Agency) has confirmed it issued a summons to Shell last week after a six-month investigation into what locals described as a ‘frightening’ event.  They said it lasted 30 to 40 minutes, lit up the sky and was seen from as far away as Achill and Foxford. The fire from the giant chimney stack was accompanied by a ‘low, loud rumble like a supersonic boom’, according to local witnesses

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S&P cuts Shell rating on BG takeover

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12 July 2016

Shell’s credit rating has been cut by S&P because of its £35bn takeover of rival BG Group.

The rating agency said on Tuesday evening it would cut the international oil company from A+ to A.

S&P said in a statement:

The downgrade reflects our view that, despite management’s commitment to reduce debt after the $54 billion acquisition of BG Group, Shell’s credit metrics and discretionary cash flow will remain materially below levels commensurate with the previous ‘A+’ rating in 2016 and 2017, as we expect continuing low oil and gas prices.

Earlier this year, Fitch reduced its credit rating for Shell from AA to AA-.

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Shell’s New Sensors Could Reduce Exploration Costs Dramatically

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By Irina Slav – Jul 12, 2016, 1:04 PM CDT

Searching for oil and gas is an activity with uncertain success—an activity with a bit less uncertainty were it not for 3D seismic surveying. And this uncertainty could be reduced even further, thanks to technological advancements that Shell is currently testing.

Seismic surveying is the first step in any oil and gas exploration project. It’s an expensive undertaking that requires scattering thousands of sensors on the ground and then analyzing the data they register about the subterranean rock makeup that may or may not include oil and gas-bearing formations.

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Militants claim attack on Exxon as Shell shuts Nigerian pipeline

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Agence France-Presse : Jul 12, 2016 @ 12:05 PM

The Niger Delta Avengers (NDA) group said it had bombed an ExxonMobil facility in southern Nigeria just as Shell announced closure of a key oil pipeline, in the latest blow to output.

“At about 7:30 pm (1830 GMT) the Niger Delta Avengers blow up ExxonMobil Qua Iboe 48″ crude oil export pipeline,” the NDA, which has been blamed for a string of attacks on key oil and gas facilities since February, said in a statement late Monday.

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Shell’s LNG Canada venture again delays export terminal decision

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Screen Shot 2016-06-15 at 15.59.39Shell’s LNG Canada venture again delays export terminal decision

(Reuters) – Royal Dutch Shell Plc RDSa.L and its LNG Canada partners have once again pushed back the timing of a decision on building a British Columbia liquefied natural gas export (LNG) terminal, the latest setback for the Canadian province’s energy ambitions.

LNG Canada, whose participants also include PetroChina Co Ltd 601857.SS, Mitsubishi Corporation 8058.T and Kogas, cited global industry challenges, including capital constraints, for requiring more time prior to making a final investment decision.

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Shell-Led Group Delays Decision on Canada Gas Export Plan

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By Natalie Obiko Pearson and Rebecca Penty: July 11, 2016

LNG Canada cites industry challenges, capital constraints

Project says it can’t confirm when it plans final decision

Royal Dutch Shell Plc and its partners delayed for the second time this year a final investment decision on a terminal to export liquefied natural gas from Canada’s Pacific Coast to Asian markets.

LNG Canada, which is also backed by Mitsubishi Corp., PetroChina Co. and Korea Gas Corp., cited “global industry challenges, including capital constraints” in announcing the postponement in a statement on Monday.

“Participants have determined they need more time prior to taking a final investment decision,” the joint venture said. “At this time, we cannot confirm when this decision will be made.”

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Shell wins tender to sell Nigerian crude cargo to Argentina -traders

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Mon Jul 11, 2016

HOUSTON, July 11 (Reuters) – Anglo-Dutch oil company Royal Dutch Shell was awarded a tender last week to sell 1 million barrels of Nigeria’s Bonny Light crude to a group of refining firms in Argentina, traders said on Monday.

Firms buying the cargo include Oil Combustibles, Axion Energy, Petrobras Argentina and Shell. The crude must be delivered on August 1-10 and it will be processed at several domestic refineries.

It was not immediately possible to know the price agreed for the cargo. Shell has a policy not to comment on such commercial issues.

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BG Houston Office to Close; Lay Off 154 Workers

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According to a letter sent to the Texas Workforce Commission, BG, which became a wholly owned subsidiary of Shell February 15, 2016, will permanently close its Houston office and lay off 154 employees. The majority of employees, 118, will be laid off August 31 and the remaining 36 employees will be let go September 30.

Employees do not have bumping rights and BG will offer severance benefits and outplacement services to laid-off employees.

In January, Shell CEO Ben van Beurden said the acquisition would result in a total workforce reduction of 10,000 workers across both companies. Shell has also stated the company will close BG’s head office located near London by the end of the year, Reuters reported. In addition, Shell will close BG’s Aberdeen office and its Brabazon House office in Manchester by the end of 2017.  

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Shell braces for North Sea strike action

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Jillian Ambrose: 11 JULY 2016

Shell is bracing itself for major strike action on its North Sea platforms after talks between workers and oilfield services company Wood Group broke down ahead of a union ballot.

Wood Group’s oil workers will vote on whether to take action over tougher offshore working schedules and lower pay, in what could be the first wave of strikes for the North Sea in a generation.

Trade unions Unite and RMT are balloting 200 of around 450 oil workers working across Shell’s platforms in the Brent oilfield, and on Wednesday will decide whether almost half the workforce will down tools.

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Shell CEO says interested in Yuzhno-Kirinskoye field – Vedomosti

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11 July 2016

MOSCOW (Reuters) – Royal Dutch Shell (RDSa.L) is interested to take part in developing Russia’s Yuzhno-Kirinskoye field, Chief Executive Ben van Beurden told Russia’s Vedomosti daily newspaper in an interview.

He added that expansion of the Sakhalin-2 LNG project in Russia’s Pacific Island of Sakhalin may need gas both from that field and from the Sakhalin-1 project.

(Reporting by Katya Golubkova; Editing by Dmitry Solovyov)

SOURCE

Nigeria: 300 Shoreline Communities Accuse Shell of ‘Divide and Rule Tactics’

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By Emma Amaize: 11 JULY 2016

Over 350 shoreline communities in Delta, Ondo and Bayelsa states affected by the Shell Nigeria Exploration and Production Company, SNEPCO, Bonga oil spill of December 2011, weekend, accused the oil multinational of using divide and rule tactics against the people.

The victims in a statement by Chief Awe Daniel, Warri South, Delta State, and nine others, said: “They, SNEPCo and Shell Petroleum Development Company of Nigeria Limited, SPDC, have continued their attempt to divide the Niger Delta people in the bid to cheat and conquer the people of the region.”

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Nigeria: Ogonis Allege Plot By Shell, NPDC to Sabotage Clean-Up Exercise

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Leadership (Abuja): 11 July 2016

By Anayo Onukwugha

The people of Ogoni ethnic nationality in Rivers State have alleged that the planned resumption of oil exploration activities in the area may be a plot by the Shell Petroleum Development Company (SPDC) and the Nigeria Petroleum Development Company (NPDC) to derail the clean up of the polluted Ogoni environment.

This is as they expressed concern over the slow pace of implementation of the report of the United Nations Environment Programme (UNEP) in Ogoniland and called the Federal Government to speedily put into place the governance structures for the implementation of the report on Ogoniland without further delay.

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Bonga spill: Shell compensation not transparent, say communities

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Some victims of the 2011 Bonga oil spill in the Niger Delta have accused Shell Nigeria Exploration and Production Company (SNEPCo) and Shell Petroleum Development Company of Nigeria Limited (SPDC) of underhand practices in the payment of compensation.

They said the oil firm sought to avoid its obligations by describing the spillage as a ‘mystery spill’ and afterward signed a General Memorandum of Understanding (GMoU) with unauthorised representatives of the 350 impacted communities.

In a statement signed by six representatives of South Ijaw, Ekeremor and Brass Local Government Areas (LGA) they alleged that the firm convinced the unauthorised representatives that the compensation would be converted to infrastructure “with ten percentage of the infrastructure money to go to the GMoU members as administrative cost.”

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Only 25% of Nigeria’s gas reserves is utilised, says Shell chief

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Only 25 per cent of the country’s gas reserves is being utilised, the Managing Director of Shell Petroleum Development Company (SPDC) and Country Chair of Shell Companies in Nigeria, Mr. Osagie Okunbor, has said.

He spoke at the Nigerian Gas Association’s Business Forum in Lagos.

Okunbor, who represented Oil Producers Trade Section (OPTS) Chairman, Clay Neff listed some of the problems of the sector’s development to include gas producers debts, poor gas infrastructure, insufficient funding and lack of a conducive business environment.

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UPDATE 1-Shell takes sacked UK workers overseas service tax breaks

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Tom Bergin

(Adds employee reaction, website link)

LONDON, July 7 (Reuters) – Royal Dutch Shell has changed its redundancy terms so it can claim tax refunds that some UK workers would otherwise have been able to claim on redundancy payments, internal documents seen by Reuters show.

The move comes as the Hague-based oil giant is slashing 5,000 jobs this year following the collapse in oil prices and its merger with smaller UK rival BG Group.

The UK government allows employees who have worked part of their career overseas to reclaim some, or in some cases all, of the tax due on severance payments.

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Shell takes sacked UK workers overseas service tax breaks

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Royal Dutch Shell has changed its redundancy terms so it can claim tax refunds that some UK workers would otherwise have been able to claim on redundancy payments, internal documents seen by Reuters show. Copies of one presentation have been published on Shell protest site: http://royaldutchshellplc.com/

By REUTERS: PUBLISHED: 17:30, 8 July 2016

By Tom Bergin

LONDON, July 7 (Reuters) – Royal Dutch Shell has changed its redundancy terms so it can claim tax refunds that some UK workers would otherwise have been able to claim on redundancy payments, internal documents seen by Reuters show.

The move comes as the Hague-based oil giant is slashing 5,000 jobs this year following the collapse in oil prices and its merger with smaller UK rival BG Group.

The UK government allows employees who have worked part of their career overseas to reclaim some, or in some cases all, of the tax due on severance payments.

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US oil leadership questioned

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By Ed Crooks: 8 July 2016

The most eye-catching story of the week was the estimate from Rystad Energy that the US holds the world’s largest oil reserves. As the table in Rystad’s press release shows, that calculation relies heavily on “undiscovered fields” in the US that have yet be found. In terms of proved reserves in existing fields, Saudi Arabia still has more than twice as much oil as the US, according to Rystad’s estimates. John Kemp of Reuters discussed the meaning of the varying figures for Saudi Arabia’s reserves, concluding: “No-one really knows how much more oil can be recovered from beneath the Saudi desert and adjoining areas in the Gulf.”

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Shell depriving ex-workers of tax breaks on redundancy pay – report

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Written by Mark Lammey – 08/07/2016 11:33 am

Shell (LON: RDSB) will scoop up the tax breaks on redundancy payments that had been available to departing workers, a news report said yesterday.

So-called foreign service relief allows UK workers who have spent parts of their careers abroad to reclaim some of the tax due on severance pay, but Shell has moved to claim the money instead, Reuters reported.

According to the report, which cites internal documents from Shell, the company introduced the policy on April 1.

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Small fire at Prelude LNG construction site in South Korea -Shell

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SYDNEY/SEOUL, July 8 (Reuters) – Shell said a small fire occurred at the construction site in South Korea for its huge floating Prelude liquefied natural gas (LNG) project, with work resuming immediately and an investigation underway.

The incident would not have an impact on the delivery schedule, according to a source in South Korea.

Shell has declined to reveal the timetable or the budget for Prelude, based on a giant processing vessel being built in Samsung Heavy Industries’ Geoje shipyard that will be towed to a gas field off the west Australia coast.

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