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Shell: Fire Forces Closure of Key Oil Pipeline in Nigeria

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Shell says a fire has forced it to close a key oil pipeline feeding Nigeria’s strategic Bonny Export Terminal, which militants attacked last week.

The ongoing challenges are losing oil multinationals billions of dollars in what used to be Africa’s biggest petroleum producer.

SBM Intelligence risk analysts estimate that renewed militant attacks, low oil prices and weak refinery margins have cost Dutch-British Shell and U.S.-based Chevron and ExxonMobil $7.1 billion in the first half of the year, representing about 70 percent of earnings.

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Shell unit at Bukom site experiences ‘upset’

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Boats sail past Pulau Bukom on June 8, 2016.PHOTO: REUTERS

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SINGAPORE (REUTERS) – A unit at Royal Dutch Shell’s manufacturing site at Pulau Bukom in Singapore experienced an “operational upset” on Tuesday resulting in flaring with dark smoke, a spokeswoman said.

“This has since subsided after the affected unit was stabilised,” she said.

There was no fire as a result of the flaring and the rest of the site is operating normally, she added.

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Explosion And Fire Rock Shell Facility In Ogoniland

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cropped-Screen-Shot-2016-09-09-at-20.58.10.jpgBY SAHARA REPORTERS, NEW YORK: 26 SEPT 2016

A trunk line carrying crude oil in the Goi community in the Ogoniland area of Rivers State became engulfed in dark plums of smoke and flames on Monday morning. The trunk line belongs to the Shell Petroleum Development Company.

Celestine Akpobari, an environmental activist who visited the site, said the inferno occurred just a few meters away from a military surveillance post. According to her, the fire immediately followed the sound of an eruption affecting the Agbada/Bomu trunk line.

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Nigeria: MEND, Clark Condemn Bombing of Shell’s Bonny Pipeline

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By Chiemelie Ezeobi and Sylvester Idowu: 26 Sept 2016

The Movement for the Emancipation of the Niger Delta (MEND) and Ijaw leader, Chief Edwin Clark, yesterday condemned in strong terms, the renewed hostilities by the Niger Delta Avengers (NDA).

The group at the weekend claimed responsibility for the bombing of Bonny pipeline in Rivers State.

MEND also dissociated itself from the ‘holier than thou’ and arrogant attitude of the Pan-Niger Delta Group over the proposed Niger Delta Summit convened by the federal government.

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Shell to support low carbon tech companies with £350k funding

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Written by Mark Lammey – 26/09/2016 4:30 am

Shell will fork out £350,000 this year to support pioneering UK companies which develop low carbon technology.

The Shell Springboard scheme will hand £150,000 to a national champion and £40,000 each to five regional winners.

The victors will also get advice from academics, investors and policy makers, as well as access to Shell exhibitions and workshops.

The application period closes on October 28 and the winners will be announced in spring 2017.

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Shell Nigeria refuses to confirm oil militants’ attack

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Published September 26, 2016 Associated Press

WARRI, Nigeria –  Shell Nigeria is refusing to confirm a report by Niger Delta militants that they have bombed its Bonny oil pipeline in the south, crippling its exports.

Friday night’s bombing breaks a month-long ceasefire between militant groups and the government and comes days after repairs from an earlier attack had allowed exports to resume.

Shell spokesman Precious Okolobo says he cannot comment on the incident.

The Niger Delta Avengers say its attack is “only a wake-up call” responding to a clampdown by security forces that it says violated the ceasefire. The military has reported arresting at least two Avenger commanders last week.

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Shell To Pay $20M For False Calif. Oil Cleanup Claims

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screen-shot-2016-09-09-at-20-58-10Jody Godoy

Law360, New York (September 23, 2016, 4:53 PM EDT)

Shell Oil Co. has agreed to pay $20 million to settle claims by California’s water quality regulator and a whistleblower that the company had billed a state fund for cleanup work already covered by insurance proceeds, the agency said on Friday.

Shell will pay the State Water Resources Control Board $11.3 million to drop administrative proceedings over 100 claims to a cleanup fund for leaky underground storage tanks. The agency said Shell was able to get repaid through insurance or litigation, but had omitted that fact…

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Brent Spar: The sea is not a dustbin

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Blogpost by Rex Weyler – 23 September 2016

In August 2016, Prestel Books published Photos That Changed the World, including this image of the Greenpeace Brent Spar campaign, captured by David Sims on 16 June 1995.

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The story begins in the 1950s, when Royal Dutch Shell found oil near Groningen, in Permian sandstone linked to North Sea formations. By 1971, Shell had located the giant Brent oilfield in the North Sea, 220km east of Shetland, England. The Brent field produced a valuable, low sulphur crude, and set the standard for the European, or “Brent”, oil price.

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Shell leaves literal and symbolic void downtown

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Next year will mark the end of an era as Royal Dutch Shell largely abandons its iconic tower and consolidates workers on the west side of town in its Woodcreek complex in the Energy Corridor and the Shell Technology Center a few miles south of Woodcreek. Only Shell’s energy trading team will remain downtown.

The move – largely to cut costs in the ongoing oil bust – continues the exodus of Big Oil from downtown Houston. Exxon Mobil moved out last year when it built its massive new campus by Spring. Of Houston’s 10 largest energy employers, just Chevron and CenterPoint Energy remain downtown.

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Many Irish names feature in Bahamas registry

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Extracts from an article by Colm Keena published by The Irish Times on 22 Sept 2016

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screen-shot-2016-09-23-at-21-22-23Shell E&P Ireland Offshore Inc associated with Corrib gas project

Two companies registered in the Bahamas and used by Dublin property investor Paul Fenelon for investments in the UK are among companies of Irish interest on the Corporate Registry of the Bahamas.

The registry, normally difficult to access, is being made publicly available by the International Consortium of Investigative Journalists (ICIJ), of which The Irish Times is a media partner.

Shell E & P Ireland Offshore Inc, a company with an address in Nassau, has had a number of Irish directors over the years, starting in 2000.  The company is associated with the Corrib gas project in Co Mayo.

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Shell Oil to pay California $20 million over false claims

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BY DALE KASLER: [email protected]: 23 Sept 2016

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Shell and its Equilon Enterpises LLC affiliate were essentially caught double-billing the state fund

Shell Oil Co. and an affiliate have agreed to pay $20 million to California officials over false claims the companies submitted to a state-run underground storage tank cleanup fund, California officials said Friday.

As part of the settlement, state officials permanently rejected cleanup claims from Shell and the affiliate totaling as much as $150 million.

Andrew DiLuccia, a spokesman for the State Water Resources Control Board, said Shell and its Equilon Enterpises LLC affiliate were essentially caught double-billing the state fund. “They were getting reimbursement for cleanup costs from an insurer,” he said.

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Dutch government confirms cut in Groningen gas output

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Screen Shot 2016-09-01 at 08.40.08By REUTERSPUBLISHED: 23 September 2016

AMSTERDAM, Sept 23 (Reuters) – Gas extraction from the northern Groningen gas field will be held at 24 billion cubic metres per year for the coming five years, Dutch Prime Minister Mark Rutte said on Friday.

The decision made on Friday by Rutte’s government cemented a preliminary plan to cut output to minimise the risk of earthquakes resulting from production at Groningen, which once supplied 10 percent of the gas used in the European Union.

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Shell’s 70-year dividend record at risk

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By Lee Wild | Thu, 22nd September 2016

Running an income fund has been fairly straightforward for the past few years. Drug giants like GlaxoSmithKline (GSK) and AstraZeneca (AZN) have kept up shareholder returns and the telecoms sector has offered rich pickings. So have BP (BP.) and Royal Dutch Shell (RDSB). However, income plays are becoming more expensive, and now we’re hearing that Shell’s dividend record is in serious danger.

Shell has not cut the dividend since the Second World War; it’s a fact we love to repeat whenever the conversation turns to the oil sector and dividends. And, despite a 55% rally since late January, the shares still offers a prospective dividend yield of 7.3%.

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Exclusive: Maersk Oil eyes Shell’s North Sea assets ahead of spin-off

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screen-shot-2016-09-09-at-20-58-10By Ron Bousso and Jonathan Saul | LONDON

A.P. Moller-Maersk (MAERSKb.CO) is in talks to buy a portfolio of North Sea assets from Royal Dutch Shell (RDSa.L) as the Danish group considers adding scale to its oil and gas business ahead of a planned spin off, banking sources said.

Maersk announced on Thursday a major overhaul that will see it focus on its core transport and logistics businesses, while looking at options for its energy division within 24 months that could include a joint venture, merger or listing.

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Shell says Norco, Louisiana chemical plant upset triggers flaring

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screen-shot-2016-09-09-at-20-58-10Thu Sep 22, 2016 | 5:53pm BST

Royal Dutch Shell Plc (RDSa.L) said flaring on Thursday at the Norco, Louisiana manufacturing complex shared with the Motiva Enterprises [MOTIV.UL] refinery was due to an upset in the company’s chemical plant.

The refinery and chemical plant share the safety flare system at the complex and when the flare goes off it is sometimes reported as being due to a malfunction at the refinery.

(Reporting by Erwin Seba; Editing by Chizu Nomiyama)

SOURCE

Low oil forces Shell Houston reshuffle

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Written by Rita Brown – 21/09/2016 7:00 am

screen-shot-2016-09-09-at-20-58-10Shell has made plans to move the bulk of its staff out of its historic Houston base.

The company informed staff that more than 3,400 workers would be relocated from its base in the Houston Central Business District to its facilities on the west side of the city.

Shell’s base, known as One Shell Plaza, was completed in 1971. At the time it was the tallest tower in the city. A spokesperson confirmed that only staff in trading will remain at site, which makes up part of the downtown Houston skyline.

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Shell drops first deepwater well off Nova Scotia due to lack of oil

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screen-shot-2016-09-09-at-20-58-10By: Staff The Canadian Press Published on Wed Sep 21 2016

HALIFAX — Shell has plugged the first of its deepwater exploration wells off Nova Scotia, saying it didn’t find enough oil to make it worth proceeding.

The well is located about 250 kilometres offshore of Halifax on the Scotian shelf.

The company says in a news release that the work on the Cheshire well was completed last week.

It says it has started working on a second exploration well, Monterey Jack, at a location about 120 kilometres southwest of the Cheshire location.

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Namesake tenant departing One Shell Plaza

screen-shot-2016-09-21-at-07-24-51The move will affect 3,400 employees when it takes place early next year as part of “an effort to meet the ever changing market conditions and optimize resources for future opportunities,” Shell said in a statement Tuesday. Employees will move to the company’s Woodcreek facility and Shell Technology Center on the west side of town.

Those who work for Shell’s downtown trading operations will stay put, although the company said it eventually plans to have all of its Houston-based staff in company-owned facilities on the west side.

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5 Oil Majors, One Big Nigeria Lawsuit

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September 20, 2016, 4:48 P.M. ET

By Dimitra DeFotis

Allegedly illegal Nigerian oil exports valued at $12.7 billion are at the heart of a lawsuit the country has filed against units of Chevron (CVX), Royal Dutch Shell (RDSA), Total (TOT) ENI (E) and Petroleo Brasileiro (PBR).

The case points to outsiders’ shipments to the United States between 2011 and 2014, but is likely to expose domestic corruption as well. Militants have crippled Nigeria’s oil production this year, a recurring theme over recent decades. Lagos hearings, which begin next week, come as the country struggles with the affects of policy stagnation, currency devaluation, inflation and low oil revenue.

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Shell moving out of downtown complex but to remain in Houston

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Tue Sep 20, 2016 | 8:49pm BST

Shell Oil Co, the U.S. arm of Royal Dutch Shell Plc, plans to move most of the operations at its company’s downtown headquarters to new offices on the city’s west side, Shell announced to employees on Tuesday.

Only Shell Oil’s U.S. trading floor with remain in Shell Plaza after the first quarter of 2017, the company said in a statement.

Shell follows ExxonMobil Corp, which relocated 10,000 employees from offices across Houston, including downtown, to a custom-built complex 25 miles (40 km) north of the city in 2015.

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Nigeria sues oil companies for $12.7B over “illegal” oil exports

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Sep 20 2016, 15:19 ET | By: Carl Surran, SA News Editor

Nigerian officials say the government is suing several major oil companies for $12.7B of oil that allegedly was exported illegally to the U.S. during 2011-14.

The Federal High Court in Lagos begins hearings next week in cases filed against Nigerian subsidiaries of Chevron (NYSE:CVX), Royal Dutch Shell (RDS.A, RDS.B), Eni (NYSE:E), Total (NYSE:TOT) and Petrobras (NYSE:PBR).

The officials say the government alleges that the companies did not declare more than 57M barrels of crude oil shipments.

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Shell cuts 225 jobs in Norway

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Written by Niamh Burns – 20/09/2016 9:46 am

Oil major Shell has cut 225 positions from its operations in Norway following its takeover of BG Group.

The company said in May it would be making around 140 employees redundant with staff able to apply for severance packages.

According to reports in Norwegian media, 145 employees have lost their jobs while another 110 members of staff will also go.

A spokesman for the company said while some workers had taken voluntary redundancy, Shell would need to look at making additional job cuts.

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Shell Australia’s giant Prelude floating LNG project likely to come on stream in 2017

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20 September 2016

Royal Dutch Shell is building the world’s largest floating liquefied natural gas (FLNG) project, which has the potential to transform the way natural gas resources are developed. It is designed to recover resources offshore that would otherwise be too costly or difficult to develop without the need to lay pipelines and build processing plants on land. In this article, Hazardex takes a look at the latest developments in this ground-breaking project.

The Prelude natural gas field was discovered by Shell in the Browse Basin off north Western Australia in 2007 with an additional field, Concerto, discovered nearby in 2009. Combined, these gas fields have around 3 trillion cubic feet of liquids-rich gas. The Australian Government gave the Prelude FLNG project environmental approval on November 12, 2010, and Shell took the final investment decision (FID) on May 20, 2011.

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Shell Canada investigates after electrical explosion occurs at Edmonton-area refinery

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screen-shot-2016-09-09-at-20-58-10By Phil Heidenreich: 19 Sept 2016

Shell Canada said three of its employees are back at work and doing well after experiencing an “unexpected electrical arc flash” at the company’s Scotford oil refinery and chemical plant Sunday.

In a statement to Global News, Shell Canada said the workers were taken to the company’s health centre as a precaution and “cleared for full duty later that evening.” The company said it’s now investigating what caused the incident.

The U.S. Department of Labor defines an arc flash as a “phenomenon where a flashover of electric current leaves its intended path and travels through the air from one conductor to another or, or to ground.” It said the when arc flashes occur with people nearby, “the results are often violent” and can lead to serious injury or death.

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Shell and BP have lost billions – now the low price of crude is hurting other firms too

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By LAURA CHESTERS FOR THE DAILY MAIL19 September 2016

Oil is slowly climbing back to $50 a barrel as a deal between Saudi Arabia and Russia and an agreement on production in Venezuela helped to stabilise prices.

The production agreements could finally give some assurances to dozens of companies who have suffered since crude slumped from $114 a barrel in 2014 to $28 early this year.

Oil supermajors such as BP and Shell have been high-profile casualties, losing billions in profits.

They’ve written off billions of pounds and have had to slash tens of thousands of jobs as they change their businesses to cope with the reduced profits.

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What Is Really Pushing Oil Prices Down?

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Gaurav Agnihotri: 19 Sept 2016

Oil prices fell last week after the IEA and OPEC reported in their respective oil market reports that the supply-demand rebalancing of oil will take longer than market expectations. The WTI (WTI) and Brent were down by almost 2% and were trading at $43.3 and $45.77 at the time of writing this article. Even the U.S rig count increased for the 12th week in a row. Oil prices are going down as markets have realized that global oil supplies are only going to increase in the coming time. “It really looks similar to the period of the early 1990s, when we were at $20 oil. Is $45 to $50 the new $20? I am not ready to say we are in this new equilibrium environment, but it sure does feel like we’re moving in that direction,” said the head of commodities research at Goldman Sachs (NYSE:GS), Jeff Curie. It must be noted that investment firms such as Goldman Sachs have started lowering their 2017 forecast for oil prices. Let us look at those factors that are putting downward pressure on oil.

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What Royal Dutch Shell Is Doing To Solve LNG’s Biggest Challenge

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By Gary Bourgeault: 19 Sept 2016

There is one basic thing Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) needs to do to take full advantage of its LNG strategy, and that is to boost demand by increasing the number of fueling stations in the markets they’re competing in.

It has been marketing its LNG brand for some time, but it hasn’t had the desired impact in the short term because the infrastructure isn’t in place to respond to demand. If it can’t service demand than marketing efforts are underwhelming to say the least.

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Links to over 240 articles by a host of different publishers including the FT, Wall Street Journal, Reuters etc., all containing references to RoyalDutchShellPlc.com or its founders

screen-shot-2016-09-19-at-15-34-38Links to over 240 articles by a host of publishers including the FT, Wall Street Journal, Reuters, Dow Jones Newswires, Bloomberg, New York Times etc., containing references to this website, or its founders Alfred and John Donovan (photo right).

Includes newspaper and magazine articles, and newsletters. All in date order.

WALL STREET JOURNAL ARTICLE: “Shell Wages Legal Fight Over Web Domain Name”: 2 June 2005

BLOOMBERG ARTICLE: “Shell in Legal Battle Over Name of Web Site, Journal Reports“: 2 June 2005

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Dutch parliament orders annual check on Groningen gas production

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Thu Sep 15, 2016 4:51pm BST

The Dutch parliament adopted a motion on Thursday ordering the government to evaluate every year whether gas production at the country’s Groningen field can be reduced further.

Output from Groningen, Europe’s largest gas field, has halved over the past two years after the country’s Safety Board said the government was failing to protect citizens from earthquakes triggered by gas exploitation.

In June, the government capped production at 24 billion cubic meters (bcm) annually for the coming five years but the motion adopted Thursday opens the door to further reductions.

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Royal Dutch Shell: An Unsustainable Dividend

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Jesse Moore: Sept 15, 2016

Summary

  • Shell is funding its dividend and capital expense programs through a combination of debt and asset sales.
  • Those assets are operating, economic assets that provide long-term value to the company under its assumptions.
  • Shell has one year of leeway at current prices to fund its dividend after that rising debt will put too much pressure on the companies balance sheet.
  • Since I have a negative outlook on prices till at least 2018, I expect a Shell dividend cut in the first half of 2017.
  • Adding to the long list of resource companies with debt-funded dividends, we have Royal Dutch Shell (RDS.A, RDS.B). With a current yield of nearly 8%, and assuming you knew nothing about oil and gas, you could reasonably conclude this company is in peak operating condition. Unfortunately for investors, that story would be far from true.

Capital Expense – Free Cash Gap Growing

Many Shell investors focus on the stability of the dividend as a hallmark of the stock. Those investors are seemingly immune to what the balance sheet, cash flow statement tell us. As the company has pushed towards gas and is being pushed by its investors towards renewables, the capital expense bills have piled up. Throughout the oil downturn, Shell has hardly reduced capital expense in line with free cash flow – a result of long-term project planning that cannot be reined in.

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Shell leaves refinery business in Denmark

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By Daniel J. Graeber     |   Sept. 15, 2016 at 8:36 AM

COPENHAGEN, Denmark, Sept. 15 (UPI) — For about $80 million in capital, Royal Dutch Shell said Thursday it was keeping its upstream Danish interests in check, but unloading a refinery operation.

Shell said it reached an agreement with a Danish company to sell its refinery operations, which includes the Fredericia refinery that has the capacity to handle 70,000 barrels of product per day. The Dutch supermajor said its exploration and production interests in Denmark would not be impacted by the transaction.

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SHELL: STRICTLY PRIVATE AND CONFIDENTIAL?

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EMAIL FROM JOHN DONOVAN TO SHELL: 15 SEPT 2016

From: John Donovan <[email protected]>

Subject: STRICTLY PRIVATE AND CONFIDENTIAL?

Date: 15 September 2016 at 12:51:41 BST

To: [email protected]

Cc: Michiel Brandjes <[email protected]>

To Mr. Gary P. Thomson SI-LSC/KCompany Secretarial Advisor 

Corporate Secretariat 

London 

Dear Mr. Thomson

Thank you for your email dated 26 July 2016 and your subsequent letter dated 30 August 2016, the content of both stated by you to be “Strictly private and confidential”.

An attachment was marked as being “Confidential”.

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Will Saudi Aramco Be Able To Lay Its Hands On Houston Refinery?

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By Tsvetana Paraskova – Sep 14, 2016, 3:52 PM CDT

At a time when U.S. and Saudi relations are strained, the Saudi Arabian Oil Company is reportedly leading in a race to buy a large refinery in Houston.

Certainly, politics and geopolitics cannot stay out of such move by the Saudi company, but it seems that Aramco has solid business reasons, as well as political ones, to bid for the Houston Refinery, which Dutch chemicals company LyondellBasell Industries NV (NYSE:LYB) is reportedly putting up for sale.

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Shell brings final of six wells online at Corrib

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Written by Niamh Burns – 15/09/2016 6:00 am

The final of six wells at Shell’s Corrib project on the West cost of Ireland has now been brought online.

The move comes more than a week after Shell was fined over a flaring incident on New Year’s Eve last year.

According to Vermilion, which owns an 18.5% stake in the field, production ramp-up has exceeded expectations and production volumes have now reached full capacity.

In its quarterly results Vermilion said: “Irish production continued to ramp up during the quarter, with better than expected well deliverability and minimal downtime at Corrib since start up on December 30th, 2015.”

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Noy faces graft suit over Shell

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screen-shot-2016-09-09-at-20-58-10By Rio N. Araja: September 15, 2016

FORMER President Benigno Aquino III is facing graft charges before the Office of the Ombudsman for allegedly failing to collect P100 billion in taxes from Pilipinas Shell Petroleum Corp.  for gasoline shipments in 2004 to 2009.

Also charged were ex-Finance secretary Cesar Purisima, PSPC chairman and president Edgar Chua, ex-vice president for communications Robert Kanapi and country tax manager Nigel Avila.

The complainants–ex-Customs commissioner Napoleon Morales, former district collector Juan Tan and Headlines News Today publisher Lourdes Aclan–accused Aquino, Purisima and the other respondents of violating the Anti-Graft and Corrupt Practices Act and the Tariff and Customs Code.

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First carbon capture project in oilsands passes one million tonne milestone

screen-shot-2016-09-14-at-18-38-44The company, which developed the $1.35-billion Quest project with the help of $745 million from the Alberta government and $120 million from Ottawa, says the project is operating ahead of schedule and under budget.

“There isn’t a metric that hasn’t finished very strongly in green,” said Zoe Yujnovich, executive vice-president for heavy oil at Shell.

“I don’t think we can say that about many projects.”

The Quest project is designed to capture about a third of the emissions from Shell’s Scotford Upgrader near Fort Saskatchewan, Alta., turn that into a near-liquid, and then pump it over two kilometres underground into porous rock formations.

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Shell safety chief urges industry not to get bogged down in KPIs

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Written by Mark Lammey – 14/09/2016 7:22 am

The oil and gas industry is in danger of getting bogged down in key performance indicators (KPIs), a safety chief from Shell said yesterday.

Norbert van Beelen, Shell’s vice president of wells safety and environment, said that while it was important to measure performance, companies were wasting time gathering superfluous metrics.

He said: “We need to manage it because KPI is becoming an industry on its own.

“Certain metrics are needed so we understand where we are going, but there needs to be a purpose. We need to be deliberate about what we are choosing.

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Big Oil’s New Focus on Natural Gas

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By SARAH KENT: Sept. 13, 2016 10:02 p.m. ET

Royal Dutch Shell ’s truck filling station at Rotterdam’s Waalhaven harbor in the Netherlands isn’t your typical fueling spot. Alongside the diesel pumps are fuel tanks with a special nozzle used to pump liquefied natural gas—an experiment that Shell is hoping can help it stay ahead of shifting trends in energy consumption.

Shell’s LNG fueling stations in Waalhaven and elsewhere are just one piece in a grand strategy to build new markets for the company’s growing natural-gas business—and get a jump on the competition.

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How Will Shell’s Upstream Production Change In The Next Five Years?

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screen-shot-2016-09-09-at-20-58-10September 13, 2016, 03:26:57 PM EDT By Trefis Team, Trefis

Before the commodity downturn began in 2014, Royal Dutch Shell (NYSE:RDSA), one of the world’s largest integrated energy company, grew its production at a steady rate. However, the oil slump took a toll at the company’s price realizations, forcing it to restrict its capital expenditure, and in turn its production. As a result, Shell’s upstream production has remained flat over the last five years. As the outlook for commodity markets remains uncertain, we expect Shell’s upstream production to be weak even in the remaining half of 2016.

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Groningen gas demand seen falling sharply

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Screen Shot 2016-09-01 at 08.40.08Groningen gas demand seen falling sharply

The Netherlands has been forced to scale back production at Groningen, which once supplied 10% of European Union gas requirements, to 24B cm/year due to damage from earthquakes.

Sep 13 2016, 08:31 ET | By: Carl Surran, SA News Editor

Demand for gas from the Groningen field in the Netherlands will fall sharply from 2020 as production is reduced, Economy Minister Kamp says in a letter to the Dutch parliament.

The Netherlands has been forced to scale back production at Groningen, which once supplied 10% of European Union gas requirements, to 24B cm/year due to damage from earthquakes.

Groningen is operated by a joint venture between Royal Dutch Shell (RDS.A, RDS.B) and ExxonMobil (NYSE:XOM).

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Argentina’s Energy Minister Sold Shell Shares After Pushback

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By Carolina MillanSeptember 13, 2016

Tax declarations show he owns $1 million worth of Shell shares

Aranguren was chief executive officer of Shell Argentina

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Argentina’s Energy and Mining Minister, Juan Jose Aranguren, has sold his shares of Royal Dutch Shell Plc following criticism from anti-graft authorities, President Mauricio Macri said.

Aranguren, formerly the chief executive officer of Shell Argentina, sold his shares in the company, Macri said in an interview with Bloomberg TV on Tuesday. Earlier, the minister was excused from all dealings with Shell in Argentina, according to a decree published in the official gazette. The minister, who owned $16 million pesos ($1 million) shares in the company according to reports of his tax documents for 2015, received a non-binding recommendation on Monday from the anti-graft office to sell his stock.

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FTSE 100 edges higher but BP and Shell slip on oil glut fears

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Nick FletcherTuesday 13 September 2016 11.18 BST

Oil shares are among the biggest fallers after crude prices slid further in the wake of a downbeat report from the International Energy Agency. The agency said the oil market would be oversupplied until at least the first six months of 2017, given a sharp slowdown in demand and rising stocks. A month ago it predicted suppy and demand would be broadly in balance for the rest of the year, and inventories would fall sharply.

Chris Beauchamp, chief market analyst at IG, said:

The IEA has joined OPEC in pouring more cold water on the oil price this morning. After OPEC flipped its prediction of dwindling non-OPEC supply in 2017, instead warning that it was set to rise due to a major new oilfield in Kazakhstan coming online, the IEA has issued a stark warning that the pickup in demand seen in the first half of the year has completely evaporated. It has cut its demand forecasts for the second half and the whole of 2017 and is now predicting the glut will remain in the global market for the whole of next year. Oil prices are down this morning, although the real capitulation could come towards the end of the month if OPEC and Russia fail to agree a supply freeze

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Shell gets go-ahead for frontline robot to monitor Kazakh site

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Andrew Ward, Energy Editor: September 13, 2016

Royal Dutch Shell has developed a robot to monitor equipment and carry out safety checks at a remote facility in Kazakhstan — marking one of the most sophisticated examples of robots replacing humans on the front lines of the oil industry.

Shell said the Sensabot was undergoing final testing in the Netherlands before being deployed to Kazakhstan. The group plans to roll it out to other remote oilfields, as well as potential roles in refineries, chemical plants and LNG terminals.

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Dutch see demand for Groningen gas down sharply from 2020

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Screen Shot 2016-09-01 at 08.40.08Demand for gas from Groningen will “fall sharply from 2020” as production at the northern Dutch field is reduced, Economy Minister Henk Kamp said in a letter to parliament released on Tuesday.

The Netherlands has been forced to scale back production by roughly half at Groningen, which once met 10 percent of European Union gas requirements, to 24 billion cubic meters per year due to damage from earthquakes.

Citing a June study by Gasunie, Kamp said a 480 million euros gas conversion facility in Zuidbroek was no longer needed due to falling exports.

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Argentina energy minister asked to sell stock in Shell

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screen-shot-2016-09-09-at-20-58-10By ASSOCIATED PRESSPUBLISHED: 20:54, 12 September 2016 

BUENOS AIRES, Argentina (AP) — Argentina’s anti-corruption office is asking the country’s energy minister to sell his stock in Royal Dutch Shell, where he was an executive of the local branch.

Juan Jose Aranguren became energy minister in December. He has faced growing criticism for continuing to own a reported $1.1 million in Shell’s class A shares.

The head of Argentina’s anti-corruption office said Monday that Aranguren should get rid of his stock or set up a blind trust to handle his finances.

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Shell begins production at world’s deepest underwater oilfield

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Simon BowersSunday 11 September 2016 17.15 BST

Royal Dutch Shell has started production at the world’s deepest underwater oil and gas field, 1.8 miles beneath the sea surface in the Gulf of Mexico.

The latest costly addition to Shell’s production capacity comes despite Van Beurden’s repeated pledges on climate change. In May, he said: “We know our long-term success … depends on our ability to anticipate the types of energy that people will need in the future in a way that is both commercially competitive and environmentally sound.”

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OPL 245: Murky saga of an ex-minister and ‘siphoned-off’ oil millions

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Even by Nigerian standards, the alleged siphoning off of $1 billion (£750 million) from a $1.3 billion international investment in a lucrative oil block through “fees” to a former oil minister’s company and assorted middlemen has been shocking. 

Jonathan Fisher QC called it “grand corruption”. High Court Judge Mr Justice Edis declared: “Given the large sums of money involved that are effectively paid to a former minister to a bank account in the Middle East, the whole exercise is backed by murky instructions.”

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9th Circ. Rejects Shell’s Overcharges

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Friday, September 09, 2016

SAN FRANCISCO (CN) — Shell and others came a step closer Thursday to reimbursing Californians $200 million for overcharges during the 2000 electricity crisis, when the Ninth Circuit rejected their challenge.

Upholding a 2013 finding by the Federal Energy Regulatory Commission, the appeals court cited “substantial evidence” that the power companies inflated electric rates by violating the FERC’s export tariff rules.

Power companies repeatedly got around regulators during the crisis, through bags of tricks, including “kilowatt washing”: claiming to buy electricity in California at regulated rates, then shipping it out of state, and repurchasing it at unregulated, emergency prices. Since electricity is simply a directed flow of electrons, and electrons cannot be traced, there was no way to prove whether the companies were doing that or not.

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Shell Retail adds new life into POS

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SEPTEMBER 9, 2016 | BY DEENA M. AMATO-MCCOY

The fuel retail industry may innovate at a snail’s pace, but Shell Retail is bucking the trend.

Following a year-long proof-of-concept, the gasoline and convenience store retailer is embarking on an iPad-based point-of-sale (POS) deployment at dedicated locations. The robust cloud-based system is designed to centrally manage fuel stations and markets more effectively; ensure compliance with data security standards, and most importantly, improve the customer experience through the point-of-purchase.

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This 89-Year-Old Scion’s Defiance Threatens a $1.7 Billion Merger

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By Stephen Stapczynski and Tsuyoshi Inajima: Sept 8, 2016

Screen Shot 2016-08-29 at 22.18.50In Japan’s carefully-choreographed, corporate world, public power struggles are generally frowned upon. Shosuke Idemitsu, 89, apparently doesn’t roll that way.

At an Idemitsu Kosan Co. shareholder meeting in June, investors were expected to vote in favor of reappointing directors who are supporting the government-backed, $1.7 billion merger with rival Showa Shell Sekiyu K.K. that’s scheduled to close by April of 2017.

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