Royal Dutch Shell plc .com Rotating Header Image

Posts under ‘Shell’

Shell eyes next tender for Dutch North Sea wind farm

Screen Shot 2016-08-04 at 09.29.49

screen-shot-2016-09-08-at-20-10-33

Screen Shot 2016-08-29 at 22.18.50UTILITIES | Thu Sep 8, 2016 10:15am EDT

Royal Dutch Shell, which lost a bid to build a Dutch North Sea wind park in July, is interested in entering a second tender process opening next week, an official said on Thursday.

Marjan van Loon, Shell’s top executive in the Netherlands, told parliament on Thursday “the potential for wind energy in the Netherlands is really very attractive.”

A Shell spokesman could not confirm that Shell would bid on the 680 megawatt (MW) Borssele III and IV wind farms, but said it was studying the option.

read more

Shell and ExxonMobil apologise for Groningen earthquake problems

screen-shot-2016-09-08-at-14-31-10

Officials made the comments during a parliamentary hearing with Shell and ExxonMobil executives after being challenged by GroenLinks MP Liesbeth van Tongeren, broadcaster NOS reported.

‘We acknowledge that the people of Groningen are dealing with most of the problems caused by gas extraction, which we in the Netherlands can thank for our prosperity,’ Shell Nederland president Marjan van Loon said.

‘That is why the people of Groningen deserve our support. The NAM has expressed its regrets and I can fully support that. So I can say too, “I’m sorry, sorry”.’

read more

Report: Shell considering sale of 600 Argentina gas stations

screen-shot-2016-09-08-at-14-24-08

Sep 8 2016, 08:38 ET | By: Carl Surran, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) is considering selling ~600 gas stations in Argentina as part of a strategic review of its downstream assets in the country, Business Times reports.

Shell CEO Ben van Beurden said at a conference in New York yesterday that the company is in the middle of a strategic review of its downstream assets in Argentina as part of a $30B divestment program.

Shell has market share of 19% in Argentina for gas stations, making it the second biggest seller after state-owned YPF.

read more

Oil Under Pressure As Shell Lifts Force Majeure On Nigerian Exports

Screen Shot 2016-09-01 at 18.43.41

screen-shot-2016-09-08-at-11-53-07

Screen Shot 2016-08-29 at 22.18.50By Charles Kennedy – Sep 07, 2016, 11:20 AM CDT

At least one source of Nigerian oil exports is set to come back online after Royal Dutch Shell lifted its force majeure on Bonny Light crude exports.

The Nembe Creek Trunk Line was repaired and reopened, allowing Shell to resume exports of its oil, nearly a month after declaring force majeure. Nembe Creek is one of a handful of key pipelines that helps Nigeria brings its oil to the coast for export. The cause of the August outage was not reported on – the pipeline’s operator, Aiteo, said it was from a leak but did not disclose the cause.

read more

Shell CEO: Red lights on path to greener energy

screen-shot-2016-09-08-at-11-50-21

After all, keeping temperatures from rising to catastrophic levels will require the world to wean itself off fossil fuels and turn to cleaner forms of energy, hardly an appealing proposition to the financial wellbeing of oil producers.

But now the leader of one of the world’s biggest oil companies is telling his peers to accept the role unapologetically.

“When it comes to some of the beliefs about the challenge of the energy transition, which may be founded on less than solid fact, our industry should not shy away from being the contrarian in the room,” Ben van Beurden, the chief executive of Royal Dutch Shell, told an oil conference in Norway recently.

read more

Intelligent Energy 2016: Shell operating huge Groningen gas field from “control room of next week”

screen-shot-2016-09-08-at-11-42-23

Written by Mark Lammey – 08/09/2016 7:00 am

The thought of just two people operating one of the world’s largest gas fields might perplex some, but that’s just what’s happening in the Netherlands.

NAM, a joint venture between Shell and ExxonMobil, has been producing gas from the Groningen field since the early 1960s.

In the mid-1990s, NAM needed to replace older equipment and put in compressor modules to maintain pressure in the field.

The restoration programme led to a 50% reduction in headcount on the field as NAM brought in greater automation, according to Carl Schmitz, Shell’s current operations manager for Groningen.

read more

Noble Upstream snap-up Shell North Sea asset

screen-shot-2016-09-08-at-11-33-36

Written by Rita Brown – 08/09/2016 9:08 am

Noble Upstream has snapped-up one of Shell’s legacy North Sea assets.

The firm acquired a 7.59% non-operated interest in the Maclure oil and gas field from the oil giant.

Jeremy Huck, chief executive of Nobel Upstream, said: “We are very pleased that this important transaction in the North Sea has closed. Strong operational and economic performance this year has demonstrated that well-targeted investments in mature basins like the North Sea can deliver superior returns.

read more

Chevron Corporation, Royal Dutch Shell: Is the LNG Market Nearing Saturation?

screen-shot-2016-09-08-at-11-19-44

By Staff Writer on Sep 7, 2016 at 3:19 pm EST

In the past few years, the global energy market has undergone major changes. The usage of traditional energy resources has dropped significantly, while demand for cleaner, environmental-friendly energy sources has escalated. People are now increasingly becoming aware of the effects of greenhouse gases emissions from conventional energy sources, crude oil, and coal on our natural environment and most importantly, the ozone layer.

Last year, the Paris Agreement (COP21) was a major breakthrough for the renewable industry, as leaders from around 195 countries agreed to curb their carbon emissions. The energy producers aim to maintain the rise in global temperature to 2 degrees above pre-industrial levels in the coming few years. The agreement has provided a positive momentum to the green-tech resources as a number of international energy companies have now started to increase their exposure in the segment.

read more

Royal Dutch Shell plc Ramps up Production Despite Crude at $50 per Barrel

screen-shot-2016-09-08-at-11-08-48

By Staff Writer on Sep 7, 2016 at 11:30 am EST

The oil majors continue to overlook the low crude environment, which is expected to persist for longer, so much so that they have resorted to increasing their production at record-breaking highs. According to estimates by analysts, overall output from the seven largest energy giants globally is set to surge 9% between 2015 and 2018.

Energy giants are grappling with deteriorating balance sheet positions, even as prices continue to hover near $50 per barrel, dropping from $115 per barrel in June 2014. However, they continue to pump crude from plants sanctioned earlier.

read more

Shell’s North Sea exit could generate $1bn, says UBS

Screen Shot 2016-09-07 at 14.28.11

Screen Shot 2016-09-07 at 14.24.54

Screen Shot 2016-09-07 at 14.26.24

Jillian Ambrose7 SEPTEMBER 2016 • 1:27PM

Shell could be in line to make $1bn (£750m) in the next two years by selling off North Sea assets as part of a $30bn divestment drive, according to UBS.

The bank predicts that Shell’s North Sea retreat will begin with a “tidying up” of the oil major’s high-cost, legacy assets but that a sale of its attractive core projects could not be ruled out.

UBS oil analyst Jon Rigby said that sales of the oil giant’s older North Sea assets would only generate “a few hundred million dollars” unless the company opts for a more “radical” approach including ditching stakes in the core projects that make up its $7bn North Sea portfolio.

read more

Locals disappointed at sanction on Shell for gas flaring

Screen Shot 2016-09-07 at 08.55.48

Screen Shot 2016-09-07 at 08.56.43

Screen Shot 2016-09-06 at 11.15.18Shell to Sea says €1,000 fine equivalent to ‘65 seconds… of current Corrib sales revenue’

By Lorna Siggins

North Mayo residents living close to the Corrib gas refinery have expressed disappointment at the level of sanction imposed on Shell E&P Ireland over gas flaring last New Year’s Eve.

The multinational was fined €1,000 and ordered ordered to pay €15,000 in legal costs in relation to causing light and noise pollution from a gas flare during start-up testing at the Corrib gas terminal in Co Mayo on December 31st and January 1st.

The company pleaded guilty at Dublin District Court on Monday to breaching two parts of its industrial emissions licence, which had been awarded for project last year by the Environmental Protection Agency (EPA).

read more

Despite cuts, oil giants look to expand production

Screen Shot 2016-09-06 at 19.59.24

Ben Chapman: 6 Sept 2016

Never mind the drop in crude prices, huge spending cuts and thousands of job losses, the world’s top oil and gas companies are set to produce more than ever for some time.

While top oil companies struggle with slumping revenues following a price rout after years of spectacular growth, their production has grown as projects sanctioned earlier in the decade come on line. Overall production at the world’s seven biggest oil and gas companies is set to rise by around 9 per cent between 2015 and 2018, according to analysts’ estimates.

read more

Shell starts production at Stones in the Gulf of Mexico

Screen Shot 2016-09-06 at 12.42.24

“Stones is the latest example of our leadership, capability, and knowledge which are key to profitably developing our global deep-water resources,” said Andy Brown, Upstream Director, Royal Dutch Shell.  “Our growing expertise in using such technologies in innovative ways will help us unlock more deep-water resources around the world.”

Stones, which is 100% owned and operated by Shell, is the company’s second producing field from the Lower Tertiary geologic frontier in the Gulf of Mexico, following the start-up of Perdido in 2010.

read more

Saudi Aramco-Motiva in lead to buy Lyondell’s Houston refinery: sources

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-09-06 at 11.20.59

By Erwin Seba and Jessica Resnick-Ault | HOUSTON/NEW YORK

Saudi Aramco and its U.S. refining joint-venture Motiva Enterprises [MOTIV.UL] lead the race to buy LyondellBasell Industries Houston refinery, according to three sources familiar with the matter.

An announcement of the sale by Lyondell is expected this week, the sources said.

Lyondell spokesman Michael Waldron declined on Monday to discuss a sale of the refinery.

Reuters reported on Aug. 25 that Dutch chemical company Lyondell had retained Bank of America Merrill Lynch to help with a sale of the refinery.

read more

65 seconds of Shell/Corrib sales will pay €1,000 flaring fine

Screen Shot 2016-09-06 at 11.14.07

Screen Shot 2016-09-06 at 11.15.18News Release – Issued by Shell to Sea – Sept 6th, 2016 – For immediate release

— Shell fined EUR1,000 while making an estimated EUR240 million in Corrib sales so far this year —

Yesterday (5th September) at Dublin District Court, Shell were fined EUR1,000 after pleading guilty to causing light and noise pollution from gas flaring at Bellanaboy refinery last New Years Eve. The prosecution was brought by the Environmental Protection Agency (EPA) following complaints from people living around the Bellanaboy refinery.[1]

read more

Shell fined €1k and ordered to pay €15k in legal costs over gas flaring

Screen Shot 2016-09-05 at 15.43.45

LIKE THE SUN A still image taken from a recording shows the glow of the flaring at the Corrib Gas Terminal on January 31.

SHELL IRELAND HAS been fined €1,000 and ordered to pay €15,000 in legal costs for causing light and noise pollution from a gas flare during start-up testing at the Corrib gas terminal in Co Mayo.

The prosecution was brought by the Environmental Protection Agency (EPA) following complaints from people living around the Bellanaboy Bridge area in Co Mayo, the location of Shell’s terminal to bring in gas from the Corrib gas field 65 kilometres offshore.

Guilty plea

Shell E&P Ireland Ltd, which operates the controversial gas project, pleaded guilty at Dublin District Court today to breaching two counts of the Environmental Agency Protection Act during “flaring” tests on the night of New Year’s Eve.

read more

Why I’m expecting Royal Dutch Shell plc and BP plc to plummet!

Screen Shot 2016-08-17 at 13.35.03

Screen Shot 2016-09-02 at 18.13.19

By Royston WildThe Motley Fool: Friday, 2 September, 2016

Screen Shot 2016-09-02 at 18.15.08

Investor appetite for the oil segment has taken a knock in recent weeks as fears of a prolonged supply glut have weighed.

British majors Royal Dutch Shell(LSE: RDSB) and BP(LSE: BP) have seen their share prices slip 10% and 7% respectively during the past six weeks, for example. And I believe a sharper retracement could be just around the corner.

Stocks keep surging

Broker predictions that the oil market is set to balance later this year are being put under increased scrutiny as already-plentiful stockpiles continue to build.

read more

Malabu Oil Deal: New facts implicate more Nigerians

Screen Shot 2016-09-02 at 13.30.06

As part of their investigation, the Italian prosecutors in May 2014 asked the UK’s CPS to freeze $85m in assets related to a Nigerian company, Malabu Oil & Gas, that prosecutors say was involved in the sale, according to a copy of the official request sent by the Milan investigators and seen by Reuters.

In the letter, the Italian prosecutors alleged that Scaroni and Descalzi oversaw the payments to parties who helped secure the sale. In a second letter they alleged that some of the ultimate recipients of alleged bribes used the money to buy aircraft and armoured cars. “We are investigating many money transfers to many people in various countries who received sums that vary from millions of dollars to thousands of dollars,” the prosecutors said in the follow-up letter.

read more

Former Head of State, ex Senate President named in Malabu oil deal scam

Screen Shot 2016-09-02 at 13.16.27

Screen Shot 2016-09-02 at 13.15.27

Screen Shot 2016-09-02 at 13.19.1129 August 2016

Abuja – A former Head of State, a former Senate President, a former National Security Adviser (NSA), some senators, and some serving and former members of the House of Representatives have been named as beneficiaries of the $1.092b Malabu oil deal, Nation reports.

The names of the beneficiaries was revealed by a businessman, who is being grilled by the Economic and Financial Crimes Commission ( EFCC) over the deal.

Besides the businessman, the EFCC has grilled a former Permanent Secretary in the Federal Ministry of Finance, and some chief executives of some International Oil Companies (IOCs). The suspects remain unnamed because of what a source described as the “sensitivity” of the matter.

read more

Shell Midstream Partners – Reliable Yield During The Downturn

Screen Shot 2016-09-02 at 12.31.12

Screen Shot 2016-09-02 at 12.31.57

Screen Shot 2016-09-02 at 12.36.18

Shell Midstream Partners IPO – Bidness ECT

The Value Portfolio: Sept 2, 2016

Shell Midstream Partners (NYSE: SHLX) is a master-limited partnership formed by Royal Dutch Shell (NYSE: RDS.A) (NYSE: RDS.B). The company was formed for the purpose of purchasing midstream assets and renting them out for reliable fee-based income. This fee-based income provides investors with a secure dividend which currently amounts to more than 3% and has a strong history of growth.

Shell Midstream Partners has had a difficult time recently, though not as a difficult of a time as all the other oil companies. Since mid-2015, when other midstream companies such as Kinder Morgan (NYSE: KMI) began to take a big hit, Shell Midstream Partners has seen its stock price drop from almost $48 per unit to just over $30 per unit, a drop of almost 40%. This drop means that Shell Midstream Partners has seen its yield almost double to more than 3% per unit.

read more

Reopening of Forcados Terminal — Bad News for Crude Prices

Screen Shot 2016-07-06 at 08.16.50

Screen Shot 2016-09-02 at 08.44.31

Screen Shot 2016-09-02 at 08.45.39

Screen Shot 2016-09-02 at 08.50.39

Screen Shot 2016-08-29 at 22.18.50By Staff Writer on Sep 1, 2016 at 12:30 pm EST

After militant attacks on its oil facilities in Nigeria, as well as numerous pipeline outages, Royal Dutch Shell Plc’s Forcados pipeline in the West African country is at last ready to start deliveries this month.

According to Bloomberg, Kola Karim, CEO of Shoreline Group, an energy company that uses the terminal, said operations were expected to resume in the middle of September. A spokesman for the company declined to comment on the matter.

read more

Slashing Dividends: The Only Option Left For Big Oil?

Screen Shot 2016-09-01 at 18.43.41

Screen Shot 2016-09-01 at 19.49.56

Screen Shot 2016-09-01 at 19.52.34

By Nick Cunningham – Aug 31, 2016, 4:03 PM CDT

The oil majors will have an extraordinarily difficult time trying to maintain their hefty dividends in today’s oil market environment, and unless oil prices rebound substantially, companies may be forced to slash their payouts to shareholders.

The largest oil producers pay shareholders a combined $40 billion in dividends each year, a level that is not sustainable with oil prices at $50 per barrel, according to Chris Kettenmann of Macro Risk Advisors. “There’s massive risk to the dividend structure of these big oil companies over the next 12 months,” Kettenmann said on Bloomberg TV.

read more

Shell Becomes First Non-Bank to Join Mexico’s Oil Hedge

Screen Shot 2016-08-31 at 23.22.13

Screen Shot 2016-09-01 at 18.57.21

Screen Shot 2016-08-29 at 22.18.50By Javier Blas and Nacha Cattan: Sept 1, 2016 

Royal Dutch Shell Plc participated in protecting Mexico against low crude prices in 2017, according to four people with knowledge of the matter, the first time an oil company has taken part in the world’s largest commodities hedging program.

The Mexican government spent $1 billion buying put options — contracts that give it the right to sell at a predetermined price — to lock in an average price for its export basket of $38 a barrel for next year. Shell’s trading unit was one of the seven counterparties to the Mexican government, the people said, asking not to be identified because the information is private.

read more

Shell Looking Beyond Petroleum

Screen Shot 2016-09-01 at 18.43.41

Screen Shot 2016-09-01 at 18.44.31

Screen Shot 2016-09-01 at 18.45.16

There are many players looking to enter the oil markets thanks to the raft of deals available as the oil price crash appears to be over. For the oil majors, this will likely mean major opportunities to snap up unconventional producers and assets at low valuations. One “oil” major that may not be participating is Shell. The Anglo-Dutch oil giant is increasingly turning away from its roots in oil and moving towards natural gas as an alternative.

In the year 2000, 37 percent of Shell’s production was from natural gas. By 2015, that number had risen to 49 percent. For ExxonMobil, those figures were 40 percent in 2000 and 43 percent in 2015. For Chevron and BP, the 2000 figures were 27 percent and 40 percent respectively, and for 2015, it was 33 percent and 38 percent. Among oil majors, only ConocoPhillips has seen a comparable shift to gas going form 33 percent to 43 percent gas production between 2000 and 2015.

read more

SHELL CEO: REINVEST NATURAL GAS REVENUES IN RENEWABLE ENERGY

Screen Shot 2016-09-01 at 08.35.06

Screen Shot 2016-09-01 at 08.36.16

Screen Shot 2016-09-01 at 08.40.08Posted on Sep 1, 2016 by Janene Pieters

Marjan van Loon, CEO of Shell Nederland, wants to use natural gas revenues from Groningen for a “delta plan” for the transition to green energy and for the local economy, she said in an Interview with the Financieele Dagblad. Though she adds that the Netherlands must continue gas extraction for as long as possible.

According to Van Loon, the Netherlands can still earn billions of euros with the Groningen gas fields, but only if support from Groningen residents and safety are made priorities. Shell has a 50 percent share in NAM, which is responsible for gas extraction in Groningen.

read more

Motiva Expanding Fuel Portfolio to Include 76 Brand

Screen Shot 2016-09-01 at 08.32.57Screen Shot 2016-09-01 at 08.26.10

August 31, 2016, 04:22 pm

HOUSTON — Motiva Enterprises LLC has formed a 76 sales and marketing team to better capitalize on its long-term license for the brand.

The new team is a part of Motiva’s fuels, sales and marketing organization and will establish the go-to-market commercial strategy for the 76 brand in Motiva’s operating geography — which includes 26 Gulf and East Coast states and Washington, D.C.

According to Motiva, the relationship with Phillips 66 on the 76 brand complements the company’s long-standing relationship with Shell and the Shell brand. It also expands Motiva’s portfolio to meet the needs of its wholesalers.

read more

Shell’s Forcados Oil Pipeline Seen Restarting in September

Screen Shot 2016-08-31 at 23.22.13

Screen Shot 2016-08-31 at 23.21.18

Screen Shot 2016-08-29 at 22.18.50By Elisha Bala-Gbogbo and Paul BurkhardtAugust 31, 2016 

Royal Dutch Shell Plc’s Forcados pipeline in Nigeria will resume deliveries in September, according to an oil company that uses the line.

“We are hearing Forcados is due to return at the middle of next month,” Kola Karim, chief executive officer of Shoreline Group, said Wednesday by phone from London. “It has been a tough situation for us these past couple of months.”

The Forcados pipeline system is among oil infrastructure targeted by Nigerian militants this year. In February, Shell declared force majeure — a legal clause that allows it to stop shipments without breaching contracts — after militants blew up a line feeding the Forcados terminal, which typically exports about 200,000 barrels a day. Of that, Shoreline sends about 52,000 barrels a day.

read more

Scottish Oil Experts Scold Shell for Platform Abandonment Plans

Screen Shot 2016-07-01 at 23.22.31

Screen Shot 2016-08-31 at 23.17.11

Screen Shot 2016-08-29 at 22.18.50Two renowned oil industry experts from Scotland have vigorously criticized Shell’s plans to leave major parts of four platforms in the Brent field standing when it decommissions the aged field that gave the name to the most widely used international price benchmark.

Professors Alex Russell and Peter Strachan, respectively chairman of the Scottish Oil Association and researcher at the Robert Gordon University, noted in a paper that the concrete structures will take hundreds of years to disintegrate and represent a potential hazard that local people will have to pay for, rather than the field operator.

read more

Shell Sells Gulf Of Mexico Asset, But Faces A Tough Road Ahead

Screen Shot 2016-08-31 at 23.13.17Sarfaraz A. Khan: Aug. 31, 2016 3:20 PM ET

Summary

  • Royal Dutch Shell has agreed to sell its Brutus/Glider assets in the U.S. GoM to EnVen Energy for $425 million in cash.
  • The asset sale is a small step in the right direction which will improve Shell’s cash reserves.
  • The company, however, has made little progress toward achieving its target of selling $6Bn to $8Bn assets this year and $30Bn by 2018.

Royal Dutch Shell (RDS.A, RDS.B) has recently agreed to sell its Brutus/Glider assets in the U.S. Gulf of Mexico to Houston-based EnVen Energy for $425 million in cash. Shell was pumping 25,000 barrels of oil per day from these offshore properties, which was equivalent to 5.8% of the oil giant’s Gulf of Mexico production or less than 1% of its total production.

The asset sale is a small step in the right direction which will improve Shell’s cash reserves which stood at $15.2 billion at the end of June. Shell intends to sell $6 billion to $8 billion of assets this year. Overall, the company aims to dispose $30 billion of assets, spread in 5 to 10 countries and representing 10% of its production, by 2018. That will allow the company to reduce its debt which has ballooned following the $53 billion takeover of BG Group.

read more

Shell’s U.S deal to unlock global oil asset disposals

Screen Shot 2016-08-31 at 22.50.41

* Shell lines up large North Sea asset sale

* In talks to sell out of Gabon, NZealand, Thailand, Tunisia

* Gulf of Mexico deal sets deal value at $60/bbl

* Shell seeks to sell $6-$8 bln of assets in 2016

By Ron Bousso: Wed Aug 31, 2016

LONDON, Royal Dutch Shell’s first oil field sale after its $54 billion BG Group acquisition bodes well for its disposal talks in the North Sea, Gabon and New Zealand, according to sources, signalling buyers will meet its expectations on value.

The $425 million deal in the Gulf of Mexico is welcome news for the Anglo-Dutch oil and gas giant which has struggled to kick off its plan to dispose of $30 billion of assets by 2018 or so in order to pay for the February deal and maintain a generous dividend policy amid soaring debt.

read more

Motiva says Shell, Saudi Aramco to split assets on April 1, 2017

Screen Shot 2016-08-31 at 07.59.32

Screen Shot 2016-08-04 at 09.29.49

By Erwin Seba | HOUSTON: Wed Aug 31, 2016

Motiva Enterprises LLC [MOTIV.UL] said on Tuesday the division of its U.S. refining assets between Royal Dutch Shell Plc (RDSa.L) and Saudi Aramco IPO-ARMO.SE would take place on April 1, 2017, months later than originally expected.

The two Motiva partners announced last March they would divide their 20-year-old joint venture. The split, according to sources, had been expected to take place this October after completion of negotiations between Shell and Saudi Aramco over the division of assets and compensation due the partners.

read more

UK Government must take “ethical lead” on Shell’s Brent decommissioning plans

Screen Shot 2016-08-30 at 21.28.23Screen Shot 2016-08-30 at 21.25.46

Screen Shot 2016-08-29 at 22.18.50Written by Mark Lammey – 30/08/2016 2:02 pm

An Aberdeen-based oil and gas industry expert has called on the UK Government to take an “ethical lead” on offshore decommissioning.

Alex Russell, professor of petroleum accounting at Robert Gordon University, said Shell’s plans to leave large amounts of infrastructure from its Brent field in the North Sea set a bad example for developing countries.

Prof Russell said the UK Government should order a complete clearance of the seabed now, instead of leaving future generations to deal with “unknown consequences”.

read more

Shell Says While Gas Is the Future, It Won’t Be Traded Like Oil

Screen Shot 2016-08-15 at 17.50.25

Screen Shot 2016-08-30 at 21.16.58

At the moment, there is a global glut of natural gas…

Screen Shot 2016-08-29 at 22.18.50By Kelly Gilblom and Rakteem Katakey: August 30, 2016

Natural gas is rapidly becoming one of the most traded global commodities, but that doesn’t mean it will have a global price, according to Royal Dutch Shell Plc.

While the fuel can be transported anywhere on liquefied natural gas carriers, it will probably remain regionally priced for the time being, with some contracts continuing to track oil, said Roger Bounds, senior vice president for global gas at Shell. Prices will depend on location, regulation and infrastructure, as some countries replace coal in electricity generation to cut carbon emissions.

read more

Eiffel Towers in the North Sea – Shell’s decommissioning plans another Brent Spar PR disaster?

Screen Shot 2016-08-30 at 21.14.00

Alex Russell and Peter Strachan: from Robert Gordon University

TUESDAY, AUGUST 30, 2016

Shell is preparing to start the decommissioning of its four gigantic oil platforms in the famous Brent field in the Scottish part of the North Sea – a huge undertaking. Unfortunately, write Professor Alex Russell of the Oil Industry Finance Association and Professor Peter Strachan of Robert Gordon University, the company plans to dismantle only the topsides of the platforms. It wants to leave the Eiffel-tower sized legs, including 64 giant storage cells at the base of these structures, in place. They will take hundreds of years to disintegrate. Russell and Strachan call on the UK government and other North Sea governments to call a halt to these plans. They also demand that the Scottish government will have a say in the project.

read more

Shell’s U.S. oilfield sale may bode well for disposal program

Screen Shot 2016-08-30 at 21.00.43

…analysts also say further deals may prove harder to clinch

Aug 30 2016, 11:47 ET | By: Carl Surran, SA News Editor

Analysts say Royal Dutch Shell’s (RDS.A, RDS.B) first oilfield sale after its BG Group acquisition bodes well for its sale talks in the North Sea, Gabon and New Zealand, signaling that buyers will meet the company’s expectations on value.

The $425M sale of the Brutus/Glider fields has an implied oil price of ~$60/bbl, more than $10/bbl above current prices, according to UBS analysts who say “we may now be entering a period where both buyer and seller can see acceptable relative value, unlocking the A&D [acquisition and divestiture] market.”

read more

Shell share price: Private equity-backed firms eye group’s North Sea assets

Screen Shot 2016-08-30 at 20.49.27

Screen Shot 2016-08-30 at 20.50.04

Screen Shot 2016-08-29 at 22.18.50Anglo-Dutch oil major agrees to offload certain assets in Gulf of Mexico

by Tsveta ZikolovaTuesday, 30 Aug 2016, 09:00 BST

Investment companies backed by some of the world’s biggest private equity groups have expressed interest in Royal Dutch Shell’s (LON:RDSA) North Sea assets, the Financial Times has reported. The Anglo-Dutch oil major has unveiled plans to sell some $30 billion worth of assets across its global portfolio over the next three years or so is it looks to shore up its balance sheet in the wake of its acquisition of BG Group which completed earlier this year.

read more

Shell takes cash offer for Gulf of Mexico assets

Screen Shot 2016-08-30 at 20.47.03Screen Shot 2016-08-29 at 18.38.43

By Daniel J. Graeber: Aug 30, 2016

HOUSTON, Aug. 30 (UPI) — In a deal that included $425 million in cash, Royal Dutch Shell said it sold off its entire stake in assets held in the U.S. waters of the Gulf of Mexico.

Shell said the sale of the 100 percent stake of three blocks known collectively as the Brutus/Glider assets to EnVen Energy Corp. was in line with the company’s divestment strategy. In July, the company’s chief executive officer, Ben van Buerden, said “significant and lasting changes” were underway as lower crude oil prices continued to present problems for the industry.

read more

Shell Australia attacks Victoria’s ban on fracking, gas moratorium

Screen Shot 2016-08-30 at 20.40.02

Screen Shot 2016-08-30 at 20.35.00

John Dagge, Herald Sun: August 30, 2016 

SHELL Australia has blasted the Victorian government’s move to permanently ban fracking and extend a moratorium on conventional onshore gas development, saying it will result in higher energy bills.

Chairman Andrew Smith has also warned the decision will cost the state investment dollars and jobs and make it more difficult for manufacturers, already under pressure, to stay in business.

“Every Victorian household and business will now pay higher energy prices moving forward,” Mr Smith said.

read more

Oil market rebalancing could take until end 2017: Shell

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-08-29 at 22.25.22

Screen Shot 2016-08-29 at 22.28.14

Mon Aug 29, 2016 2:01pm EDT

By Karolin Schaps | STAVANGER, NORWAY

The huge global oil oversupply that has weighed on prices for the past two years may not clear until the second half of 2017, Shell’s chief energy adviser Wim Thomas told Reuters.

The potential return to the market of some 1.5 million barrels per day of supply from Libya and Nigeria and uncertainty about Iranian and Iraqi production levels could push a rebalancing further away than many in the oil industry are hoping.

read more

Shell Divests Gulf Of Mexico Assets For $425 Million Plus Royalty Interests

Screen Shot 2016-08-29 at 22.17.31

Screen Shot 2016-08-29 at 22.18.10

Screen Shot 2016-08-29 at 22.18.50AUG 29, 2016, 15:27 ET

HOUSTON, Aug. 29, 2016 /PRNewswire/ — Royal Dutch Shell plc, through its affiliate Shell Offshore Inc. (Shell), today announces it has an agreement to sell 100 percent of its record title interest in Gulf of Mexico Green Canyon Blocks 114, 158, 202 and 248, referred to as the Brutus/Glider assets, to EnVen Energy Corporation, through its affiliate EnVen Energy Ventures, LLC.  In line with Shell’s global divestment plans, this transaction includes $425 million in cash. 

read more

Shell’s Ben van Beurden calls on industry to be “contrarian in the room”

Screen Shot 2016-08-29 at 18.40.18Written by Rita Brown – 29/08/2016 12:27 pm

Shell’s chief executive Ben van Beurden called on the industry to be the “contrarian in the room” and speak the “undeniable truth” about energy’s future.

The company leader addressed the delegation at this year’s ONS, tackling climate change and the influence of the Paris climate agreement.

The chief executive opened by saying: “There is a classic story about one of the most famous Norwegians of all time, the playwright Henrik Ibsen. Lying on his sickbed, he overheard his nurse saying that he was a bit better that day.

read more

Oil giant Shell ‘very serious’ about pursuing offshore wind

Screen Shot 2016-08-29 at 18.31.35

By Darius Snieckus in Stavanger

Monday, August 29 2016

Oil giant Shell is gearing up to “actively compete” in the global offshore wind power market, following a U-turn in its strategic direction, its chief energy adviser said today.

ACCESS TO FULL ARTICLE SUBJECT TO SUBSCRIPTION

Joint-venture partners in Browse open to new options

Screen Shot 2016-08-29 at 18.22.59

BRIDGET CARTER, GRETCHEN FRIEMANN:

  • The Australian
  • 12:00AM August 30, 2016

The one thing that the Woodside Petroleum-led Browse project has never had much of is unity among the project partners. But that may quietly be changing.

DataRoom understands that the various joint-venture partners in Browse are open to new development options for the project, and that the pipeline option floated by Woodside last week is increasingly being seen by all the partners as the most sensible plan as it stands today.

Woodside chief Peter Coleman told journalists on Friday that the option of connecting Browse to the big but ageing North West Shelf liquefied natural gas plant via a massive 1000km subsea pipeline was back on the table.

read more

Shell CEO sees oil demand up by 1-1.5 mln barrels/day per year

Screen Shot 2016-08-04 at 09.29.49

Screen Shot 2016-08-29 at 18.12.46

Screen Shot 2016-07-29 at 16.46.22The CEOs of Shell and ConocoPhillips made the following comments to the ONS oil conference in Stavanger, Norway, on Monday:

* Shell CEO Ben van Beurden says sees increase in oil demand of 1-1.5 million barrels per day per year

* Shell CEO says sees future oil demand more dictated by consumer decisions rather than producers’ decisions

* ConocoPhillips CEO Ryan Lance says carbon price needs to be $100 or more to reach climate target

read more

Shell’s North Sea assets draw eye of private equity-backed groups

Screen Shot 2016-08-29 at 18.03.40

Screen Shot 2016-08-29 at 18.02.34

A significant downsizing…

Screen Shot 2016-08-22 at 08.09.54August 29, 2016

Investment companies backed by some of the world’s biggest private equity groups have expressed interest in North Sea assets being sold by Royal Dutch ShellShell insists it will not abandon the North Sea, where it has 33 platforms and interests in 65 fields. Further multibillion-dollar investment is planned in two big developments — Clair and Schiehallion — west of the Shetland Islands. However, Shell is looking to sell a range of older assets, as well as stakes in newer fields, in what would amount to a significant downsizing, according to people involved in the process.

read more

Is energy industry ready to join open source world?

Screen Shot 2016-08-27 at 16.35.03

By David Hunn: August 26, 2016

Landmark, a technology unit of the energy services company Halliburton, is betting that it is, unveiling a cloud-computing platform last week that will allow companies to collaborate on developing software to process the massive volumes of data they collect on everything from geology to seismology to chemistry to drilling to flows of oil and gas. The idea is that easy and open access to the code on which the platform is based will lead to faster and better analysis of the data and ultimately to innovations that allow the industry to extract more oil and gas at lower costs.

read more

Why I’ve sold all of my Shell and BP shares, by manager of £543 million

Screen Shot 2016-08-26 at 09.36.01

Screen Shot 2016-08-26 at 09.34.45

Screen Shot 2016-07-29 at 16.46.22Bailey concluded his comments with the remark that the Shell dividend is uncovered. That means the company is not generating enough cash to pay the dividend itself.

David Thorpe 25 Aug 2016

Stephen Bailey, who runs the Liontrust Macro Equity Income fund has revealed the reasons why he has sold all of his shares in Shell and BP.

He began selling his Shell shares about a year ago, and completed the sale, ‘during the month of August’ 2016.

Bailey commented, ‘A year ago we had 9 per cent of the fund in oil, now it’s zero. You have to look at the macro view on this, and be very concerned about the oil market. The big suppliers in the market can no longer be controlled by OPEC, the Saudis recently announced an initiative called project 2030 which is aimed at boosting other areas of the economy, and they are doing that because they expect to receive less revenue from fossil fuels in the future.’  

read more

Shell Can’t Duck Crude Manipulation Suit, Judge Told

Screen Shot 2016-08-25 at 09.06.27

By Kevin Penton

Law360, New York (August 24, 2016, 8:24 PM ET) —

Two Royal Dutch Shell PLC affiliates accused of manipulating crude market prices cannot use the Second Circuit’s recent nix of aluminum futures price-fixing claims to escape the allegations the pair face, landowner and derivatives trader plaintiffs told a New York federal court Wednesday.

The appeals court on Aug. 9 had ruled that manufacturers and buyers of aluminum products could not sue Goldman Sachs Group Inc., JPMorgan Chase & Co. and Glencore PLC, because the plaintiffs were not directly targeted in the alleged scheme to fix prices…

read more

Can OPEC save BP plc and Royal Dutch Shell plc?

Screen Shot 2016-08-17 at 13.35.03

Screen Shot 2016-08-25 at 07.25.27

By Ian Pierce – Thursday, 25 August, 2016

Oil majors must long for the halcyon days when a sustained period of low crude prices could be expected to send OPEC riding to the rescue with sweeping production cuts and a promise to boost global prices. Now, two years into a global supply glut that shows few signs of lifting, do oil majors need an OPEC to finally take action?

BP (LSE: BP) wouldn’t say no to the help. Interim results released last month saw underlying replacement cost profits, its preferred metric of profitability, slump 67% year-on-year. Add in a $2bn statutory loss for the period and net debt leaping to $30.9bn and worries have rightly begun to proliferate that dividends will be slashed sooner rather than later.

read more

Oil major debt climbs to record high as crude prices continue to wallow

Screen Shot 2016-08-24 at 22.42.36

Screen Shot 2016-08-24 at 22.43.32

Screen Shot 2016-07-30 at 15.21.34

Billy Bambrough is City A.M.’s deputy news editor. Wednesday 24 August 2016

Some of the biggest global oil majors are being weighed down by record levels of debt.

Exxon Mobil, Royal Dutch Shell, BP and Chevron hold a combined net debt of $184bn (£138bn) — more than double their debt levels in 2014, according to analysis by the Wall Street Journal.

The drop in the oil price has been blamed for the soaring debt levels. The price of a barrel of oil remains less than half of what it was in the summer of 2014.

The enduring low oil price and soaring debt levels have caused some investors to question whether the majors will be able to fork out for new investments and dividends in coming quarters.

read more

%d bloggers like this: