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Not dead yet

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By Ed Crooks: November 19, 2016

The last rites have been read over the Age of Oil a few times recently, but this week the International Energy Agency suggested there was still plenty of life left in it yet.

In its 2016 World Energy Outlook, the IEA argued that even if the Paris climate agreement were fully implemented, demand for oil would keep rising until at least 2040.

The message was reassuring for oil producers worried that “peak demand” might condemn them to stagnation or decline, or even put them out of business. There was colder comfort, however, in a warning from Wood Mackenzie that big oil companies risked being left behind in the transition to low-carbon energy.

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Dutch court hit with 25 appeals against Groningen production cap

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Written by Reporter – 18/11/2016 

A Dutch court has received 25 appeals against the government’s decision to cap production at the Groningen gas field to an annual figure of 24 billion cubic metres from protesters who do not think it goes far enough.

A number of groups in the region asked for a steeper reduction to prevent earthquakes, which have damaged thousands of structures in the northern province.

Groningen used to supply 10% of demand in the European Union.

But it has halved in the past two years after the Dutch Safety Board said the government was failing to protect citizens from earthquakes triggered by gas exploitation.

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Nigeria reaches a deal to pay $5.1 billion in unpaid bills to oil majors – minister

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By Felix Onuah

Nov 17 Nigeria has reached a deal to pay $5.1 billion in unpaid bills to oil majors including Royal Dutch Shell and Exxon Mobil, the minister of state for oil said on Thursday.

The Nigerian National Petroleum Corporation (NNPC), the OPEC member’s state oil firm, has amassed a total of $6.8 billion in unpaid bills up to December 2015, so-called cash calls, that it was obliged to pay under joint ventures with Western oil firms, with which it explores for and produces oil.

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Dutch groups demand tighter curbs on Groningen gas production

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screen-shot-2016-11-17-at-19-09-24A top Dutch court has received 25 appeals against the government’s decision to cap production at the Groningen gas field at an annual figure of 24 billion cubic metres from protesters who think it does not go far enough.

Several groups in the region had asked for a steeper reduction to prevent earthquakes, which have damaged thousands of structures in the northern province.

Output from Groningen, which once supplied 10 percent of demand in the European Union, has halved over the past two years after the Dutch Safety Board said the government was failing to protect citizens from earthquakes triggered by gas exploitation.

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Nigeria Reaches $5.1 Billion Debt Settlement With Oil Majors

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By Elisha Bala-Gbogbo and Rakteem Katakey: November 17, 2016

Nigeria reached a $5.1 billion settlement to reimburse foreign oil companies including Exxon Mobil Corp. and Royal Dutch Shell Plc for past operating costs.

The amount, less than the $6.8 billion previously discussed, will be settled through crude-oil sales over five years and will be interest free, Petroleum Minister Emmanuel Kachikwu told reporters in the capital, Abuja, Thursday.

“What we have been able to put together has enabled us to shave about $1.7 billion in savings for the federal government from the $6.8 billion that was owed,” he said. “The barrels to pay those will come from incremental barrels generated by the oil companies, not from the current 2.2 million-barrel-a-day production.

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How Royal Dutch Shell plc Has Changed in the Past Three Years

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SHELL EMPLOYEE AT WORK. IMAGE SOURCE: ROYAL DUTCH SHELL.  

By Reuben Gregg Brewer (ReubenGBrewer: Nov 17, 2016

Royal Dutch Shell plc (NYSE:RDS-A) (NYSE:RDS-B) is one of a small collection of international energy giants. That group, which includes companies like ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX), as a whole, is thought of as oil companies. But over the past few years, Royal Dutch Shell has taken steps to tip the balance toward natural gas, a key difference investors need to know about.

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Shell refinery faces another fine for 2015 emissions incident

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By KIMBERLY CAUVEL @Kimberly_SVH
: 17 November 2016

The Northwest Clean Air Agency has fined Shell Puget Sound Refinery near Anacortes $133,000 for emissions and related odors released from the refinery last year.

The air agency, which regulates air quality in Whatcom, Skagit and Island counties, announced the fine Wednesday.

According to a news release, the regional air agency received dozens of complaints in February 2015 about odors coming from the refinery, and found after investigating that the refinery had emitted various chemicals and “failed to meet general duties to follow good air pollution control practices.”

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Shell’s North Sea oil trading draws spotlight again this year

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screen-shot-2016-11-09-at-20-26-36* Shell builds large position in BFOE forward cargoes

* Crude price differentials, Brent market structure weak

* Shell’s Forties sales to Asia in Jan had supported Brent

By Alex Lawler and Amanda Cooper

LONDON, Nov 17 Royal Dutch Shell has snapped up a large volume of North Sea oil that helps set the global Brent benchmark, trade sources said, the second time this year that its trading activities have attracted the glare of the spotlight.

Shell, the world’s second-largest oil company, runs some of Europe’s biggest refineries, including the 404,000-barrels-per-day Pernis facility, and is one of the biggest traders in the North Sea crude market, the home of the Brent benchmark.

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Shell job shock adds to employment fears

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Greig Cameron, Scottish Business Editor: November 17, 2016

Shell has dealt a “devastating blow” to 380 finance workers in Scotland by announcing plans to cut jobs and move functions overseas.

The decision came as official figures showed that unemployment in Scotland had dropped again — although there are concerns about the strength of the labour market.

The oil giant said it intended to close its business operations site on Bothwell Street in Glasgow over the next 15 months. The work will be transferred to lower-cost countries, with the company having offices handling business operations in the Philippines, Malaysia, Poland, India and South Africa.

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Shell leases former Michael Baker headquarters

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screen-shot-2016-11-10-at-21-16-18Shell leases former Michael Baker headquarters

By Jared Stonesifer [email protected]

BRIGHTON TWP. — Shell Chemicals Co. has entered into a short-term lease of the old Michael Baker International headquarters on Dutch Ridge Road.

Shell spokesman Michael Marr said Wednesday the 76,000-square-foot building will be used to house employees during the five-year construction phase of a cracker plant in Potter Township. Those employees will be tasked with moving the site from a construction phase into an operational phase, Marr said.

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Does Shell have a secret growth business in the US?

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Philip Whiterow16 November 2016

Shell PLC (LON:RDSB) may be sitting on an undiscovered jewel with its onshore acreage in the US according to analysts at Deutsche Bank.

The German broker notes that prospects in the US Permian Basin are now changing hands for up to US$45 per acre, which puts a value of US$10bn on its 2bn barrel Delaware position.

That is three times Deutsche’s previous estimate, but rather than suggesting others in the industry were overpaying, as it had been, the broker concedes it may have missed a trick on the potential within Shell’s US tight oil assets.

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BvB has truly lost the plot

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It is amazing that these “difficult choices” are all falling at the door of the lowest paid employees of Shell and yet the vastly inefficient and “fat” middle and upper level management just seems to keep on expanding.

With such low activity levels due to the transition away from oil and gas, low oil price and smaller geographic focus of Shell one would have thought that these highly paid meeting organisers would face the chop rather than the people doing actual work.

It is sad to say but it seems BvB has truly lost the plot after such a promising start and now tries to dig himself out of his own hubris after so many poor choices prime of which is the overpaying for BG.

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Shell Tops Ranks Of Ideal Oil, Gas Employers

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By Irina Slav – Nov 15, 2016, 10:10 AM CST

Shell has emerged as the number-one employer in the energy industry, according to a Rigzone survey among 8,400 respondents in more than 100 countries. This is the first survey of this kind since the start of the price slump.

The top 10 of the best employers in the industry, according to the survey, is occupied by Big Oil and Big Oilfield Service, with Chevron at #2, Exxon at #3, and BP at #4. Halliburton was fifth, followed by Schlumberger, Aramco, Total, Baker Hughes, and Weatherford International at #10.

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Shell to axe 380 finance jobs in Glasgow in favour of cheaper offices overseas

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By Emily Gosden, energy editor: 16 NOVEMBER 2016 • 1:38PM

Royal Dutch Shell is to axe 380 jobs in Glasgow as it shuts its only UK finance operations office in favour of cheaper locations in Poland, India, South Africa, Malaysia and the Philippines.

The oil giant’s announcement that it plans to close its Bothwell Street office in the city as part of its cost-cutting drive brings the total number of jobs shed from its UK operations over the past 18 months to more than 1,350.

Staff in the Glasgow office, who undertake back-office administrative tasks such as processing invoices and managing travel and expenses, face “involuntary severance” as Shell moves their work to other offices in its “global Shell Business Operations network”.

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Shell jobs axed as report warns on future for oil market

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Wednesday 16 November 2016

Shell is to axe its Glasgow operation with the loss of 380 jobs as a new report warns of a “boom/bust” cycle in the oil industry.

The cuts are in response to the low oil price – which is already hurting the Scottish economy amid thousands of job cuts in North Sea production.

Shell said the decision to close its finance operation in Glasgow, which will take place by 2018, came about as it was taking “difficult choices” in order to remain competitive.

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Shell to cut 380 jobs in Glasgow finance office

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Rob Davies: Wednesday 16 November 2016

Oil giant Shell is to shift nearly 400 jobs overseas as it looks to shore up its finances against persistently low oil prices by hiring cheaper workers in the developing world.

The Anglo-Dutch supermajor told 380 staff at its finance operations in Glasgow that the office would be closed and they were facing “involuntary severance”.

FULL ARTICLE

Corrib gas sales surpass €335m

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The Irish Police are said to be in the pocket of Shell

The Irish Police are said to be in the pocket of Shell

Gordon Deegan:Wednesday, November 16, 2016

Sales of more than €1.2m a day are being generated from gas flowing from the Corrib field off the Mayo coast, new figures show.

Production started on the field at the end of last year and for the first nine months of this year, the Corrib partners — including Shell, Statoil, and Canadian company Vermilion Energy — recorded estimated revenues of $360m (€335m) from the production of gas from the field.

A new report from Vermilion — which has an 18.5% stake in the project — show that it, alone, has generated sales of $66.42m from the first nine months of production. According to Vermilion production volumes on the project reached full capacity at the end of second quarter of this year.

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40,000 Nigerians take Shell to UK court over oil spills

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Online Editor: November 16, 2016

UK based oil firm, Shell, is facing fresh environmental claims in a London high court from two Nigerian communities who have suffered pollution episodes following repeated large scale oil spills from the oil giant’s pipelines in the Niger Delta.  

This is according to a statement released Tuesday by Leigh Day, a London based law firm, which was signed by David Standard, its head of media relations.

The two separate legal actions are being brought by law firm Leigh Day who represented the Bodo Community against Shell in an unprecedented environmental claim resulting in Shell agreeing to pay compensation package of £55million to the Community and 15,600 Nigerian fishermen whose livelihoods had been destroyed by Shell’s oil pollution.   

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Shell vs BP: which oil giant should you buy?

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By James Connington14 NOVEMBER 2016 

In the hunt for income‑producing stocks, BP and Royal Dutch Shell are two obvious candidates.

Both have so far kept dividend promises made before the oil price crash, leading to hefty yields: 7pc for BP and 6.7pc at Shell. But which firm is better placed to sustain such attractive dividends?

At first glance, it can look like splitting hairs. Each is prioritising dividend payments, although there is little chance of dividend growth.

Both have taken significant action to cut costs and sell assets in response to the lower oil price.

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Shell share price: Group mulls sale of Norway oilfields

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screen-shot-2016-11-09-at-20-26-36by Tsveta ZikolovaMonday, 14 Nov 2016, 10:36 GMT

Royal Dutch Shell (LON:RDSA) is considering a sale of part or all of its $3-billion Norwegian business, The Sunday Times has revealed. The disposal would come with the Anglo-Dutch oil giant looking to pay down debt amid growing investor pressure, following the acquisition of former smaller London-listed rival BG Group.

Shell’s share price has been little changed in London this morning, having inched 0.28 percent higher to 1,954.50p as of 10:08 GMT. The stock, however, is underperforming the broader market rally, with the benchmark FTSE 100 index having soared 1.15 percent to stand at 6,807.63 points. The shares have added just under a fifth over the past year, and are up by some 28 percent in the year-to-date.

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Trump’s victory could hurt Royal Dutch Shell plc’s future

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By The Motley Fool  Nov 14, 2016

Donald Trump’s views on climate change may provide a boost to oil production in the US. He stated in his campaign that the US was being disadvantaged by rules and regulations aimed to prevent (or at least slow down) climate change. This could signal a more positive attitude from the US government towards oil and gas companies over the medium term.

Although there’s no certainty that Trump will follow through on his campaign policies when he becomes President, it seems likely that he’ll be less positive about battling the effects of climate change than Barack Obama. This could be bad news for Shell(LSE: RDSB).

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Japan’s Idemitsu to delay Showa Shell stake purchase from Shell

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By Kentaro Hamada and Chris Gallagher | TOKYO

Japanese oil refiner Idemitsu Kosan (5019.T) will again delay its planned purchase of Showa Shell Sekiyu (5002.T) shares from Royal Dutch Shell (RDSa.L) because a review by the Japan Fair Trade Commission is still under way.

Idemitsu said in a statement on Monday it will postpone the purchase to either December or January, from its originally planned closure by this month. The delay is another setback for Idemitsu in its attempt to take over Showa Shell, delayed after stiff opposition from Idemitsu’s founding family.

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Shell stand-off over New Zealand oil asset

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BRIDGET CARTER: Mergers & Acquisitions Editor, Sydney: @BridgetCarterNovember 14, 2016

Shell appears to be in a stand-off with Todd Energy over the future of its $1 billion-plus portfolio of oil exploration and production assets in New Zealand, according to sources.

Investment bank JPMorgan is understood to be working for the energy company, although no formal process has yet been launched, according to sources, despite suggestions that documents would start being sent out around August.

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Shell to sell off Norway oilfields

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Danny Fortson: November 13 2016,

Shell is considering a sale of part or all of its $3bn Norwegian business as Britain’s biggest company comes under growing investor pressure to pay down debt from its blockbuster takeover of rival BG.

The oil titan has lined up the investment bank Rothschild to conduct a review of the division, which operates several large fields in the Norwegian North Sea and has smaller stakes in many others.

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Billary

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Trump energised

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By Ed Crooks, November 11, 2016

“Between a battle lost and a battle won, the distance is immense and there stand empires,” said Napoleon. The same is true of elections.

Donald Trump may have come slightly behind Hillary Clinton in the popular vote for the presidency, but his convincing victory in the electoral college will give him the ability to reshape the energy industry in the US and around the world.

His hand will be strengthened by Republican control of Congress. Parts of Mr Trump’s agenda will face resistance in Congress, but his energy policy is unlikely to be one of those areas. His support for oil, gas and coal, his commitment to deregulation and his rejection of climate policy are all well aligned with mainstream Republican thinking.

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21st Anniversary Commemoration of Ogoni Martyrs

screen-shot-2016-10-19-at-10-26-17Text of a Statement By Legborsi Saro Pyagbara, President of MOSOP,  on the Occasion of the Memorial Service held  on November 11, 2016, in Bane, Ogoniland, for the 21st Anniversary Commemoration of Ogoni Martyrs and the passing away of Ken Wiwa Jr.

On 10th November 1995, the Ogoni nation suffered a devastating blow. The Nigeria government and Shell murdered nine Ogoni sons in cold blood for standing up for the truth and for justice. That action routed the world to see things for the first time in the way that we saw things. That singular action exposed the deep abyss of bestiality and brigandage in which Nigeria had sunk. That action signaled to the world that groups like the Ogoni people are imperiled and may not get justice, dignity and any sense of decency in this country called Nigeria. It demonstrated that the Nigeria system was not working for most of its people.

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LIVING IN TRUMPWORLD

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Comment from Bill Campbell on the Energy Voice Article: Shell stresses importance of stable regulatory environment post-Trump victory

Under Trump, with the senate and congress to support him, we can look forward soon to significant deregulation in the US effecting positively onshore fracking, tar sands development, offshore Deepwater in the Gulf and a boost perhaps to Alaska drilling. One assumes the Keystone pipeline will go ahead and perhaps pipelines running from central US to East Coast for new LNG Plants to supply a Europe hedging its bets over Russian gas availability with Europe’s ongoing problems with Putin, sanctions etc. A significant increase in US output, leading to increase in global supply over demand could dampen oil price. Shell seems to have divested assets recently in the US in some of these areas to offset BG takeover costs so uncertain whether Trumpworld will be good or bad for Shell.

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Shell to invest $10 billion as Brazil expands private role in oil industry

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screen-shot-2016-11-09-at-19-58-01Royal Dutch Shell Plc (RDSa.L) will invest $10 billion (8 billion pounds) in Brazil over five years now that the country has increased opportunities for foreign companies in its oil industry, its chief executive officer said on Thursday.

Already the largest foreign investor in Brazil, Shell is particularly encouraged by recent legislation that increases the role of private oil companies in the tapping of vast off-shore oil deposits in the subsalt layer, Chief Executive Officer Ben van Beurden said.

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Shell Plans to Invest $10 Billion in Brazil Over Next Five Years

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By PAUL KIERNAN: Nov. 10, 2016 1:51 p.m. ET

Shell plans to invest $10 billion in the South American nation over the next five years, Wael Sawan, the company’s executive vice president for deep water, said in an interview this week. That would come on top of the more than $30 billion in capital the company says it has deployed in Brazil, where it operates 5,500 energy stations and acquired a large number of oil-and-gas assets earlier this year via its takeover of BG Group PLC.

FULL ARTICLE

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Ten years since Garda baton charge on peaceful protestors

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The 10th of November 2006 was chosen by the Shell to Sea campaign as a suitable day of action as it marked the anniversary of the hanging of Ken Saro Wiwa and 8 other Ogoni activists who opposed Shell in Nigeria.

In 2007, following the baton charge and other incidents in which people were injured, GSOC sought to do a “policies and practices” investigation into the policing of Shell/Corrib protests. However, the then Minister for Justice Brian Lenihan denied GSOC permission to carry out this investigation. As the 2010 Frontline report stated this created “the impression that the State does not want the Garda Síochána held properly to account over the policing of the Corrib dispute”. [2]

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The Uncensored History of the Shell Brent Oil and Gas Field

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By John Donovan (updated 18 November 2016)

Energy Voice has announced that it has teamed up with Shell to “celebrate 40 years of Brent”.

A series of related “promoted” articles are being published. I take that as meaning Shell is paying for the articles. If this assumption is correct, the only history included will be of the whitewashed variety.

I doubt there will be any reference to the consequences of Shell’s appalling safety record on the Brent platforms, with falsified safety records, a “Touch F*** All” regime in regard to critical equipment maintenance, followed by the cover-up and the deaths on Brent Bravo, leading to a record-breaking fine. Will the unseaworthy lifeboats get a mention? Of course not. Shell continued to put production and profits before safety. Just read this index of related articles.

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Shell stresses importance of stable regulatory environment post-Trump victory

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Written by Mark Lammey – 09/11/2016 1:31 pm

Oil major Royal Dutch Shell has wished Donald Trump a successful presidency following his election win in the US.

Shell said it was looking forward to working with the new White House leadership.

It also vowed to keep advocating the importance of the energy sector to the US economy.

A spokesperson for Shell said: “We wish the President-elect success as he embarks on his transition and look forward to working with the new administration as they take office in January.

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Big Oil Looks Past Profit Crunch as Cash Flow Shows Recovery

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By Javier Blas: November 9, 2016

Ask any oil-company accountant, “what’s the difference between income and cash flow?” and they’re likely to say income makes the headlines, cash pays the bills.

It may be glib, but there’s a nub of truth there. Cash generation is the yardstick used to judge a company’s ability to invest and pay dividends, and it’s been growing at the biggest oil producers for three quarters in a row.

Last quarter the world’s largest listed energy companies — Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Total SA and BP Plc — reported cash from operations of almost $26 billion, up 67 percent from the previous three months and more than double the first-quarter amount, according to data compiled by Bloomberg.

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Nigerian militants blow up Shell oil export pipeline _ again

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screen-shot-2016-10-20-at-23-00-27Published November 09, 2016 Associated Press

WARRI, Nigeria –  Nigerian militants say they have again blown up an oil pipeline carrying crude for export from Shell’s Forcados terminal in the country’s south. It’s the third attack in eight days on the Trans Forcados pipeline network.

The first came just hours after President Muhammadu Buhari held inconclusive talks with stakeholders aimed at halting the sabotage. Militants and community leaders want development and a bigger share of revenues from oil that has massively polluted the southern Niger Delta.

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Shell says flow station on Nigerian Escravos oil line shut by protesters

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Activists in Port Harcourt, Nigeria protest to demand that Shell pay reparations and clean up its oil spills. Photo: © Amnesty International.

By Anamesere Igboeroteonwu and Libby George: Wednesday, 9 November 2016 15:57 GMT

ONITSHA/LONDON, Nigeria, Nov 9 (Reuters) – Royal Dutch Shell has shut down an Escravos crude oil flow station in Nigeria’s Niger Delta after villagers demanding aid staged a protest, the firm and residents said on Wednesday.

The oil major said the flow station on the pipeline operated by its joint-venture partner SPDC was no longer processing crude oil, but the impact on Escravos exports, which can run via other avenues, was not immediately clear.

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Shell says checking claim by Nigerian protesters of Escravos facility shutdown

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Screen Shot 2016-09-07 at 14.26.24Wed Nov 9, 2016 10:56am GMT

LAGOS Nov 9 (Reuters) – Royal Dutch Shell said on Wednesday it was checking a claim by a group of Nigerian protesters that they had shut down an Escravos oil facility in the Niger Delta operated by its joint-venture partner SPDC.

Shyne Edema, a youth leader in the restive region, said earlier his group was staging a protest at the facility, shutting down power and water supplies as well as crude production.

(Reporting by Libby George, Ananamesere Igboeroteonwu, Ulf Laessing and Alexis Akwagyiram; Editing by Adrian Croft)

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Ogoni monarch fingers Shell contractors as pipeline vandals

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By Austin Oyibode: 8 November 2016

Against the wide held view that youths of the Niger Delta are the arrow head of pipeline vandalism in the region, Chairman of Ogoni Traditional Rulers Council, HRM Timothy Suanu Bari Dam, has revealed that the contractors of Shell are the mastermind behind the massive destruction of pipelines in the devastated region.

Chief Bari Dam told NAIJ.com in Port Harcourt that he had personally confronted Shell in a recent meeting with company officials where he told them that contractors working for the oil firm and their close allies are the evil workers destroying the pipelines but leveling blame on youths of the Niger Delta. He said “I was in a stakeholders meeting with Shell and I told them that many of the pipeline vandalisation that is going on in Ogoni land is caused by them and their contractors. Those contracts are given to crooks, they pay money to some people and they allow the destructions go unhindered.

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FT: Western oil companies reach $5B deal with Nigeria

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Nov. 8, 2016 10:23 AM ET|By: Carl Surran, SA News Editor

Nigeria’s government has reached an outline settlement to resolve a dispute with western energy firms that would pay the companies $5B to cover exploration and production joint venture costs in the country, Financial Times reports.

Nigeria’s petroleum minister tells FT that Royal Dutch Shell (RDS.A, RDS.B), ExxonMobil (NYSE:XOM), Eni (NYSE:E), Chevron (NYSE:CVX) and Total (NYSE:TOT) accepted the settlement of costs incurred during 2010-15, and hopes a deal can be finalized by year-end.

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Western oil companies reach $5bn deal with Nigeria

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by: Anjli Raval and Maggie Fick in Lagos

Emmanuel Ibe Kachikwu, Nigeria’s minister of state for petroleum resources, told the Financial Times the settlement had been “accepted” by the five companies. It is hoped the deal can be finalised before the end of the year.

FULL FT ARTICLE

Award for deadly Corrib Gas Project

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Protesters campaigning against the controversial Corrib Gas Project in Ireland: Photo courtesy of Shell to Sea.com

By John Donovan

It does seem odd that The Corrib Onshore Gas Pipeline has been voted Engineering Project of the Year at this years Engineers Ireland Awards.

I say this bearing in mind the news just months ago that two of the construction firms involved in the project face trial over a workplace death that occurred. See the Irish Times report below.

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Corrib companies charged over gas tunnel death

Two construction firms face trial over fatal workplace incident at Co Mayo project

Lorna Siggins: Wed, Jun 8, 2016

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Irish Police, Shell, Corruption and Alcohol

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Regular visitors to this website will be aware of the admittance made by a Shell “Mr. Fixit” contractor on the Corrib Gas development in Ireland, that at Shell’s behest, they distributed bribes to smooth the path of the controversial project. On one occasion, €30,000 was splashed out on free booze for the Irish police (the Garda).

Interesting then to see a recent article published by The Irish Times, reporting  that a whistleblower – a serving police officer – has made bribery allegations implicating 50 Garda officers in a tale of corruption involving the pub trade. Cheers.

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This bad news should encourage you to avoid Royal Dutch Shell plc!

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By The Motley Fool  Nov 7, 2016

Deal in danger

My bearish view on Royal Dutch Shell (LSE: RDSB) hasn’t improved over the weekend, either, following news of fresh bickering between OPEC members.

On Monday, OPEC’s Mohammed Barkindo was forced to deny that the wheels are not falling off its much-lauded supply freeze agreement, with the group’s secretary general announcing that all 14 member states remain committed to the deal.

But rumours that Saudi Arabia vowed late last week to raise its own production, should members fail to rubber-stamp the deal this month, negates any suggestion of cross-cartel unity. Some members like Iran have been exempted from cutting, or even holding, their own production, causing other group members to publicly call for similar exemptions. The political and economic ramifications of getting an agreement over the line are clearly colossal.

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Royal Dutch Shell: The Comeback Is Here

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Alpha Investor: Sunday Nov 6, 2016

Summary

  • Shell posted a massive turnaround in its bottom line last quarter on the back of an improved production profile, lower costs, and higher price realizations.
  • Shell’s financial improvement is set to continue going forward as upstream oil price realizations will continue to improve on the back of a positive demand-supply environment in the oil industry.
  • Oil demand has exceeded supply by 500,000 bpd this year and the trend will continue as the likes of Russia, Saudi Arabia, and the U.S. continue to reduce output.
  • Shell’s focus on lowering both operating and capital costs will allow it to attain break-even point even if oil prices remain at $50/barrel, which will also improve cash flow.

On Tuesday last week, Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) reported impressive results for the third quarter. In fact, Shell was able to achieve a major turnaround in its bottom line performance, posting a profit of $1.4 billion as compared to a huge loss of $6.1 billion in the same quarter last year. This impressive turnaround in Shell’s bottom line was a result of an increase in production as compared to the prior-year period, driven by the acquisition of BG that led to a favorable production mix in the upstream segment.

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Oil chiefs under fire over ‘pathetic’ new climate investment fund

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Emily Gosden, energy editor: 4 NOVEMBER 2016 • 7:53PM

Oil giants including BP and Shell have been pilloried by climate campaigners after disclosing their annual contributions to a much-hyped new green investment fund would be less than BP chief Bob Dudley earned last year.

Mr Dudley and Royal Dutch Shell chief executive Ben van Beurden were among industry heavyweights who appeared at an event in London to announce plans by the Oil and Gas Climate Initiative (OGCI) to invest $1bn in “innovative low emissions technologies” over the next ten years.

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Hold the champagne

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screen-shot-2016-11-03-at-14-50-16By Ed Crooks, November 4, 2016

If you are looking forward to the oil industry recovery, you shouldn’t break out the champagne just yet.

Over the past eight days, the world’s largest listed oil companies have released third quarter earnings reports. From all of them, the message was that while the worst might be over, they were still facing a long hard road ahead.

The snap reactions from the stock market were mixed: positive for  ChevronRoyal Dutch ShellTotal and ConocoPhillips; negative for ExxonMobilBPEniStatoilPetrochina and Cnooc.

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Exclusive: Saudis threaten to raise oil output again as sparring with Iran returns

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By Rania El Gamal and Alex Lawler | DUBAI/LONDON

Old disputes between Saudi Arabia and rival Iran resurfaced at a meeting of OPEC experts last week, with Riyadh threatening to raise oil output steeply to bring prices down if Tehran refuses to limit its supply, OPEC sources say.

Clashes between the two OPEC heavyweights, which are fighting proxy wars in Syria and Yemen, have become frequent in recent years.

Tensions subsided, however, in recent months after Saudi Arabia agreed to support a global oil supply limiting pact, thus raising the prospect that OPEC would take steps to boost oil prices.

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Oil majors pledge $1 billion for technologies to fight climate change

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By Karolin Schaps and Ron Bousso | LONDON

Some of the world’s biggest oil companies, including Saudi Aramco and Royal Dutch Shell, pledged on Friday to invest $1 billion to help fight climate change as a global deal to wean the world off fossil fuels came into force.

The Oil and Gas Climate Initiative (OGCI), which also includes Total, BP, Eni, Repsol, Statoil, CNPC, Pemex [PEMX.UL] and Reliance Industries, has established the Climate Investments fund which will help develop carbon-reducing technologies over the coming ten years.

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Royal Dutch Shell’s Realistic View On Oil Shows Why It Is The Best Oil Major

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screen-shot-2016-10-20-at-23-00-27Nov. 4, 2016 4:19 AM ET

Summary

  • Royal Dutch Shell CFO Simon Henry just forecast that global demand for oil could peak within the next 5 to 15 years and then decline.
  • This is surprising coming from an oil company executive, and runs counter to typical industry projections such as ExxonMobil’s that demand will grow 20% by 2040.
  • Shell will shift their focus to natural gas, biofuels, and hydrogen, in order to be “the energy major of the 2050s”.
  • I like Shell’s perspective a lot: It gives them multiple paths to success. Of course they will still be just fine if oil demand does keep growing.
  • But if Shell is right, they will be ready and their management decisions over the next 5 to 15 years will be two steps ahead of everyone else’s.

On its earnings conference call this week, Royal Dutch Shell (NYSE: RDS.A) (NYSE: RDS.B) made a suprising commentary on its perspective for the global oil market over the next two decades: Its CFO Simon Henry forecast that global demand for oil could peak within the next 5 to 15 years and then decline.

Such an apparently pessimistic and bearish forecast is not what you usually expect to hear from a major oil company executive, to say the least. As the article pointed out, ExxonMobil’s (NYSE:XOM) annual outlook makes a more typical projection for the industry: about a 20% increase in global oil demand from 2014 to 2040.

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BP plc and Royal Dutch Shell plc aren’t out of the woods just yet

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By Ian Pierce – Friday, 4 November, 2016

It’s been a good few weeks for investors who kept faith in oil majors’ ability to survive slumping prices. First there was the OPEC supply cut agreement made in Algeria and then Q3 earnings season rolled around and included a slew of positive trading updates. (LSE: BP) posted a $1.6bn replacement cost profit, a 34% jump from last year’s number. And Shell (LSE: RDSB) earned $1.4bn on a current cost of supplies basis, a long way from the $6.1bn loss recorded this time last year.

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