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Posts Tagged ‘Arrow Energy’

Shell, PetroChina suffer $1.4bn Arrow Energy hit

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  • Matt Chambers
  • The Australian
  • March 18, 2016 12:00AM

Screen Shot 2016-02-17 at 08.47.47Oil giants Shell and PetroChina have been forced into a further $1.4 billion writedown on their Arrow Energy coal-seam gas joint venture in Queensland after drilling in the Bowen Basin failed to deliver expected results and has delayed the project. 

The writedowns, revealed in annual accounts filed with the Australian Securities & Investments Commission, came with an indefinite delay to the Bowen Basin project and 150 job losses at the joint venture company, which was formed in 2010 to acquire the then ASX-listed Arrow for $3.5bn.

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Australia watchdog clears Shell’s $70 billion bid for BG Group

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MELBOURNE | BY SONALI PAULBusiness News | Thu Nov 19, 2015 

Royal Dutch Shell (RDSa.L) cleared a major hurdle to its $70 billion (46 billion pounds) takeover of BG Group (BG.L) on Thursday, winning a green light from Australia’s competition watchdog, which said the deal would not change the dynamics of the domestic market.

The acquisition will make Shell the world’s top liquefied natural gas (LNG) trader, although it still needs approval from China and Australia’s Foreign Investment Review Board to go ahead as planned in early 2016.

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ACCC clears Shell’s $98b takeover of BG Group

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To the relief of Shell, the Australian Competition and Consumer Commission waved through the mega-merger on Thursday…

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Angela Macdonald-Smith: Energy Reporter

East coast gas buyers left disappointed by the competition regulator’s unconditional approval for Royal Dutch Shell’s $US70 billion ($98 billion) takeover of BG Group have turned their attention to the Foreign Investment Review Board as they look for conditions to be put around the deal.

To the relief of Shell, the Australian Competition and Consumer Commission waved through the mega-merger on Thursday, which will align the oil giant’s undeveloped gas in Queensland – held in the Arrow venture with PetroChina – with BG’s $28 billion LNG export project in Gladstone.

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Shell Australia chairman Andrew Smith says LNG needed to develop Arrow gas

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By Energy Reporter: Angela Macdonald-Smith: 12 Nov 2015

Shell Australia chairman Andrew Smith has insisted there are no issues of competition raised in eastern Australia with the oil giant’s planned $US70 billion ($98 billion) takeover of BG Group and that letting the deal proceed is the best way of ensuring the company’s undeveloped gas resources in Queensland reach buyers.

“What this market needs is more gas to be developed into the market,” Mr Smith said.

“By approving the combination that will allow for the earliest introduction of Arrow’s resource base into the east coast market,” he said, without pre-empting the November 19 decision due on the deal from the Australian Competition and Consumer Commission, which voiced reservations about it in September.

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Plan for equality on Shell merger

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Plan for equality on Shell merger

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Jane Harper: Herald Sun: November 8, 2015 

A PEAK manufacturing group has urged the competition watchdog to place conditions on Royal Dutch Shell’s multibillion-dollar buyout of oil and gas heavyweight BG Group.

The proposed $US70 billion ($99 billion) deal would be one of the biggest in the oil and gas sector’s history.

The Australian Competition and Consumer Commission is due to announce its decision on November 19, but has raised concerns about the potential impact on gas supply.

Manufacturing Australia has made fresh calls for the ACCC to lay down parameters to ensure gas is made available to domestic and international customers in a “transparent and equal” manner.

Manufacturing Australia said it feared the merger would undermine efforts to reform what it said was presently a dysfunctional gas market.

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Shell’s Simon Henry won’t rule out write-down on Arrow LNG in Queensland

Simon Henry, CFO, Royal Dutch Shell Plc

Simon Henry, CFO, Royal Dutch Shell Plc

Article by Angela Macdonald-SmithEnergy Reporter, The Sydney Morning Herald: 1 May 2015

Royal Dutch Shell has declined to rule out a write-down of its multibillion-dollar investment in its Arrow Energy natural gas venture in Queensland, depending on decisions taken to develop the gas after the oil major’s $US92 billion ($116.62 billion) takeover of BG Group.

Chief financial officer Simon Henry told investors in London that the Arrow venture, owned equally by Shell and PetroChina, needed to think about “the best way forward to monetise” Arrow gas and create value from its position. 

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Struggling Shell defers Arrow LNG project again

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Screen Shot 2013-12-22 at 19.09.52Angela Macdonald-Smith: February 1, 2014

Royal Dutch Shell has ruled out any commitment this year to the development of its Arrow liquefied natural gas venture in Queensland and signalled a more rigorous approach to other new projects in Australia, where it is also considering big asset sales.

Global chief executive Ben van Beurden would not comment on whether Shell’s remaining $7.4 billion stake in Woodside Petroleum would be among the $US15 billion ($17 billion) of divestments targeted for 2014-15.

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Shell’s Arrow Energy to slash hundreds of jobs

Screen Shot 2014-01-16 at 16.48.42Royal Dutch Shell’s Arrow Energy coal seam gas venture in Queensland is set to cut potentially hundreds of jobs as speculation mounts that the proposed LNG project will be a casualty of reined-in spending by the oil major. One source said up to 600 jobs would go, representing half of the workforce.

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Angela Macdonald-Smith: January 20, 2014

Royal Dutch Shell’s Arrow Energy coal seam gas venture in Queensland is set to cut potentially hundreds of jobs as speculation mounts that the proposed LNG project will be a casualty of reined-in spending by the oil major.

One source said up to 600 jobs would go, representing half of the workforce. Another put the figure at 400 jobs out of the 1200 employed at the venture, which is half-owned by PetroChina.

The statement comes amid media reports that managers in Arrow were travelling to regional centres in Moranbah and Dalby to kick off the job reductions.

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Arrow Energy gas plant gets the green light from government

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WITH four strokes of his pen, Federal Environment Minister Greg Hunt has given approval to a suite of enormously expensive and controversial projects planned for Central Queensland and the Great Barrier Reef.

Mr Hunt approved two major projects from the Shell-owned Arrow Energy, allowing it to build a $15 billion dollar  plant on Curtis Island to convert coal seam gas to liquefied natural gas.

The final approval allows Shell, through Arrow to connect that factory to the mainland via an 9.45km underwater pipeline.

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Worrying signs over the viability of Arrow LNG’s project

ARROW Energy’s major shareholders are Royal Dutch Shell and PetroChina. There are some disturbing signals coming from them that may see plans for the construction of a fourth LNG plant on Curtis Island go the way of the dodo.

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  •  Bob Lamont
  • 26th Nov 2013 6:28 AM

ARROW Energy’s major shareholders are Royal Dutch Shell and PetroChina. There are some disturbing signals coming from them that may see plans for the construction of a fourth LNG plant on Curtis Island go the way of the dodo.

Just remember these words from an Arrow Energy spokesman reported in a national daily: “Arrow has previously stated that it is results and value-focused and not schedule driven.”

After state approval, a Federal Government decision has been put off until December.

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Arrow LNG a likely target in Shell spending rethink

The Arrow gas export project in Australia is a likely casualty of a tighter spending regime at Royal Dutch/Shell as the company’s new boss considers feeding output earmarked for it into a rival plant instead.

LONDON Tue Nov 12, 2013 2:56pm GMT

(Reuters) – The Arrow gas export project in Australia is a likely casualty of a tighter spending regime at Royal Dutch/Shell (RDSa.L) as the company’s new boss considers feeding output earmarked for it into a rival plant instead.

Industry sources say the move could be among the first actions of Ben van Beurden. He inherits a recent promise to invest with care when he takes over as chief executive on January 1, and is due to outline his strategy on March 13.

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Shell says to invest $30 billion in Australia over five years

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BRISBANE | Mon May 27, 2013 3:19am BST

(Reuters) – Royal Dutch Shell plans to invest $30 billion in Australia over the next five years, the firm’s outgoing chief executive Peter Voser said in a speech at an industry conference on Monday.

Voser, who built the oil company into a leader in liquefied natural gas, announced his retirement earlier this month.

Shell has invested in gas projects in Australia and its Arrow LNG project is one of four gas export plants that was planned for Queensland’s Curtis Island, but the project is widely expected to be abandoned in favour of selling its gas resources to rival projects.

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Shell May Delay Australia’s Arrow LNG Project to 2014, CEO Says

By Bloomberg News – Nov 20, 2012 10:07 AM GMT

Royal Dutch Shell Plc (RDSA), the world’s biggest liquefied natural gas supplier, may delay until 2014 a decision on its Arrow LNG venture that’s forecast to cost $20 billion amid rising expenses for energy projects in Australia.

“We are in preparation of a potential final investment decision of that project somewhere in the 2013/14 time frame,” Peter Voser, Shell’s chief executive officer, said at a media briefing in Beijing today.

Costs for LNG plants are surging in Australia as it moves to challenge Qatar as the world’s biggest exporter of the fuel amid rising demand in Asia. Arrow Energy Ltd., owned by Shell and PetroChina Co. (857), said in March that it planned to decide in late 2013 whether to develop the LNG export project on Queensland state’s Curtis Island.

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Shell may feed Arrow gas into rivals’ Australian LNG plants

Tue Nov 20, 2012 2:35am EST

* Final investment decision likely delayed for Arrow LNG

* Shell may sell gas to rivals’ LNG plants

* Cost blowout still an issue -source

* Decision not to move forward with plant would be prudent -analysts

By Rebekah Kebede and Sonali Paul

PERTH/MELBOURNE, Nov 20 (Reuters) – Royal Dutch Shell may delay a final decision on whether to push ahead with its Arrow liquefied natural gas plant in Australia as it considers feeding its gas into other LNG projects in the area due to rising costs.

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Arrow Energy CEO Says Queensland LNG Invest Decision Due 2013

By Ross Kelly Published October 18, 2012 Dow Jones Newswires

MORANBAH, Australia–Royal Dutch Shell PLC (RDSB) and PetroChina Co. (PTR) are on course to approve construction of a multibillion dollar gas-export project in eastern Australia next year, shrugging off fears that cost pressures or a supply glut will delay the venture.

“Momentum on the LNG project is really very strong,” said Andrew Faulkner, chief executive of Arrow Energy, which Shell and PetroChina acquired in a 3.4 billion Australian dollar (US$3.53 billion) transaction in 2010.

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High costs slow Shell’s Arrow LNG project

HIGH cost pressures faced by the oil and gas industry have been reflected in Royal Dutch Shell’s contrasting approach to two separate liquefied natural gas developments, with Shell chief executive Peter Voser signalling that progress at the company’s huge Arrow LNG project in Queensland would not be rushed.

In contrast, Mr Voser indicated the revolutionary $12 billion Prelude floating LNG project, the first of its kind, was progressing unaffected by cost pressures because most of the upfront investment was incurred in Korea.

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Shell says Arrow Gladstone LNG plant still on

Reuters

10:02 p.m. CDT, May 13, 2012

ADELAIDE (Reuters) – Royal Dutch Shell still plans to build a liquefied natural gas (LNG) plant at the Australian port of Gladstone as part of its Arrow LNG development despite reports of rising costs, Shell Australia chairwoman Ann Pickard said on Monday.

Earlier this month, a source close to Arrow LNG, a joint venture between Shell and PetroChina , said costs may rise as much as 50 percent from initial estimates, which could force the companies to delay development.

“Obviously Shell has its own numbers, Arrow has its numbers, and PetroChina, our 50 percent partner, have their own numbers. From a Shell perspective, the project looks fine to me, but we are pretty conservative on our numbers. I don’t see any blowout or increases,” Pickard told reporters on the sidelines of an oil and gas industry conference in Adelaide.

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Shell’s Arrow Energy Cleared by Australia, China to Purchase Bow

December 16, 2011, 2:21 AM EST

By James Paton

Dec. 16 (Bloomberg) — Arrow Energy Ltd., the natural gas producer owned by Royal Dutch Shell Plc and PetroChina Co., won approval from Australia’s Foreign Investment Review Board to buy Bow Energy Ltd. for A$535 million ($534 million).

The transaction was also cleared by Chinese authorities, Brisbane-based Bow said today in a statement. The decisions follow approval earlier this month by the Australian Competition & Consumer Commission.

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Arrow Wins Bow Energy After Boosting Offer to A$535 Million

By James Paton

Sept. 26 (Bloomberg) — Arrow Energy Ltd., owned by Royal Dutch Shell Plc and PetroChina Co., agreed to buy Bow Energy Ltd. after sweetening its offer to A$535 million ($516 million), gaining resources for a natural gas project in Australia.

The coal-seam gas explorer and producer in Queensland state increased its cash offer to A$1.52 a share from A$1.48, Brisbane-based Bow said in a statement today. That’s 72 percent more than the stock’s price of 88.5 cents in Sydney trading before Arrow made its initial offer on Aug. 22.

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Shell, PetroChina Unit Arrow Bids $540 Million for Australia’s Bow Energy

By James Paton – Aug 22, 2011 8:09 AM GMT+0100

Arrow Energy Ltd., owned by Royal Dutch Shell Plc (RDSA) and PetroChina Co., offered about A$520 million ($540 million) for Bow Energy Ltd. (BOW), seeking more resources to underpin a proposed liquefied natural gas project in Australia.

Arrow, a coal-seam gas explorer and producer in Queensland state, offered A$1.48 a share in cash, Brisbane-based Bow said today in a statement. That’s 67 percent more than Bow’s price of 88.5 cents in Sydney trading on Aug. 19. The shares surged 60 percent today to A$1.415 at the 4:10 p.m. close.

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Toxins confirmed in Australia coal-seam gas wells

Reuters Africa

Wed Nov 17, 2010 9:59pm GMT

SYDNEY Nov 18 (Reuters) – An Australian coal-seam gas company owned by Royal Dutch Shell and PetroChina Co Ltd has confirmed the presence of toxins in three wells in an Australian project.

Arrow Energy said in a statement released to the Australian stock exchange on Thursday that trace amounts of so-called BTEX group chemicals, which include benzene, had been found in the wells in Bowen Basin coal fields of northern Queensland state.

Arrow Energy is leading the development of a project that aims to turn coal-seam gas into liquefied natural gas for export, at an estimated cost of $10 billion for the first phase.

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Shell-PetroChina Takeover of Arrow Means $308 Million Profit for New Hope

The takeover of gas producer Arrow Energy Ltd. by Royal Dutch Shell Plc and PetroChina Co. will generate a A$326 million ($308 million) profit for shareholder New Hope Corp., giving the coal miner more cash for acquisitions.

Shell Moves Sakhalin LNG Manager to Australia to Lead $20 Billion Project

Bloomberg

By James Paton – Aug 26, 2010 4:48 AM GMT+0100

Royal Dutch Shell Plc has brought the former manager of Sakhalin-2, Russia’s first liquefied natural gas project, to Australia to oversee development of a proposed venture that may cost more than $20 billion.

Shell, OAO Gazprom’s partner in the $22 billion Russian project, assigned Hilary Mercer to the Queensland venture, Ann Pickard, chairman of the company’s Australian unit, said in an interview. Shell and PetroChina Co. this week completed the purchase of Arrow Energy Ltd., gaining gas for an LNG venture that may produce 16 million metric tons of fuel a year.

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‘The Well From Hell’

THE NEW YORK TIMES

Published: July 24, 2010

Derick E. Hingle/Bloomberg News

LOCKED DOWN TIGHT

The News BP and the government decided to leave the cap closed on the company’s stricken oil well on the Gulf of Mexico’s floor, preventing any oil or gas from escaping the well.

Behind the News Initially, the cap’s valves were closed as a test to see if the well was intact below the sea floor, and the plan was to reopen them afterward to relieve the pressure, with escaping oil collected at the surface. Methane gas was found seeping up two miles away, but scientists concluded it was a natural occurrence. With the well apparently holding tight under the pressure, Thad W. Allen, the retired Coast Guard admiral in charge of the federal response, approved keeping the cap closed.

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Arrow approves takeover by Shell-PetroChina

REUTERS

SYDNEY | Wed Jul 14, 2010 5:59am BST

SYDNEY (Reuters) – Arrow Energy (AOE.AX) shareholders approved a $3.05 billion takeover by Royal Dutch Shell (RDSa.L) and PetroChina’s (0857.HK) on Wednesday, clearing the way for a final legal go-ahead due later this week.

Shareholders voted to demerge Arrow’s international assets into Dart Energy, a newly listed entity, and to sell the bulk of the company, including the coveted coal-seam gas assets to a consortium of Shell and PetroChina in an agreed deal.

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Shell: No Change To Proposed A$3.44B Offer For Arrow Energy

THE WALL STREET JOURNAL

MAY 4, 2010

SYDNEY (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) said Wednesday there has been no change to it and PetroChina Corp.’s (PTR) A$3.44 billion takeover offer for Arrow Energy Ltd. (AOE.AU).

“There’s been no change to the proposed offer following FIRB (Foreign Investment Review Board) approval,” a Shell spokesman said.

“Shell continues to look at the impact of the government proposal across all of our Australian investments,” the spokesman said, referring to the resource super profits tax announced this week by the Australian government.

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Shell, PetroChina Bid for Arrow Energy Wins Approval

April 30 (Bloomberg) -- Royal Dutch Shell Plc and PetroChina Co. received approval from Australia’s Foreign Investment Review Board to acquire gas producer Arrow Energy Ltd. in a A$3.5 billion ($3.3 billion) transaction.

ACCC Clears Shell, PetroChina Offer for Arrow Energy

BusinessWeek Logo

By James Paton

April 14 (Bloomberg) — The Australian Competition and Consumer Commission cleared Royal Dutch Shell Plc and PetroChina Co.’s A$3.5 billion ($3.3 billion) bid to acquire Arrow Energy Ltd. after a monthlong review of the proposed transaction.

“Taking into account the significant competing gas suppliers and abundant gas reserves that would remain post- acquisition, the ACCC considered that the proposed acquisition was unlikely to substantially lessen competition in any relevant market,” the Australian regulator said on its Web site.

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Shell, PetroChina Still Await Approval for Arrow Deal

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By Ben Sharples

April 6 (Bloomberg) — Royal Dutch Shell Plc said the company’s joint A$3.5 billion ($3.2 billion) bid with PetroChina Co. to acquire Arrow Energy Ltd. is yet to be approved by the Australian government, denying a press report.

“We continue to work through the government approval process,” Phil Connole, Melbourne-based spokesman for Shell, said by telephone today. The Australian Financial Review reported earlier that backing from the nation’s Foreign Investment Review Board for the transaction had been secured.

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Shell and China’s CNPC sign 30-year gas discovery deal

BBC NEWS

Royal Dutch Shell has strengthened its ties in China with a 30-year deal to explore for natural gas in the country.

The Anglo-Dutch energy giant will partner China National Petroleum Corporation (CNPC) in the project.

The deal follow’s this week’s joint bid with PetroChina, owned by CNPC, for Australia’s Arrow Energy gas company.

Shell has been expanding its search for gas assets rapidly, and the deal secures the company a strong presence in resource-hungry China.

Under the agreement, which still needs clearance from the Beijing government, Shell and CNPC will initially search for gas in a 4,000 sq km area in the Sichuan province.

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Arrow to soon respond on Shell, PetroChina offer: source

REUTERS

(Reuters) – Australia Arrow Energy Ltd (AOE.AX) has opened its books to Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK) for them to conduct due diligence for their joint takeover offer worth at least A$3.3 billion ($3.03 billion) sources said on Wednesday.

One of the sources said Arrow is expected to make a response on the offer within days. ($1=1.088 Australian Dollar)

(Reporting by Fayen Wong; Editing by Michael Perry)

REUTERS SOURCE ARTICLE

Shell may have to raise bid for Arrow Energy

A stream of analyst comments and silence on the offer from the Australian coal-seam gas group has fuelled expectations that Arrow will reject the bid and the two parties will have to come in with a higher – and hostile – offer. Last week, Shell and PetroChina offered A$4.45 in cash for each Arrow share, plus a share in a new, international Arrow entity.

So far so good as Shell is giving a shaking

Times Online

March 16, 2010

David Wighton: Business Editor’s commentary

He arrived with a bang and within weeks had axed 5,000 jobs. But eight months after taking over the helm at Royal Dutch Shell, is Peter Voser making progress turning around the supertanker?

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Shell May Need to Increase Arrow Bid, Bernstein Says

March 9 (Bloomberg) -- Royal Dutch Shell Plc and PetroChina may need to increase their bid for Arrow Energy Ltd. by as much as 18 percent to A$3.9 billion ($3.5 billion) based on similar transactions in Australia, Sanford C. Bernstein & Co. said.

Shell May Offer A$3.3 Billion for Arrow Energy

Bloomberg.com: Shell May Offer A$3.3 Billion for Arrow Energy, Review Says

By Gavin Evans

March 8 (Bloomberg) — Royal Dutch Shell Plc has offered about A$3.3 billion ($3 billion) for Arrow Energy Ltd. to take control of the company’s gas assets in Australia’s Queensland state, the Australian Financial Review reported, without saying where it got the information.

Shell is offering about A$4.50 a share for its Brisbane- based partner in a coal seam gas project in Queensland, the newspaper said. Arrow wouldn’t comment on the offer, which may have been made Friday, the Review said. Arrow Energy shares closed at A$3.48 on March 5, valuing it at A$2.6 billion.

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Arrow Wins Approval for A$550 Million Queensland Gas Pipeline

Feb. 19 (Bloomberg) -- Arrow Energy Ltd., Royal Dutch Shell Plc’s coal-seam gas partner in Australia, won government approval to build a pipeline to the proposed Fisherman’s Landing liquefied natural gas plant in the state of Queensland.

Shell’s 30 per cent stake in restless Arrow Enegy

It is one thing to own the right to mine the gas, but it is a different issue to actually get it to the market and, as far as Arrow’s gas, it would seem Shell is in the ideal position to dictate terms, given it is the logical party to commercialise the project.

Shell Partner Arrow Targets 10-Fold Gain in Gas Output by 2015

Sept. 24 (Bloomberg) -- Arrow Energy Ltd., Royal Dutch Shell Plc’s Australian coal-seam gas partner, will start drilling in Indonesia and may expand in Europe and Southern Africa as it pursues a 10-fold jump in production by 2015.

Arrow Energy Finalizes Sale Of 12% Of Tipton West To Shell

THE WALL STREET JOURNAL

AUGUST 18, 2009, 9:43 P.M. ET

MELBOURNE (Dow Jones)–Arrow Energy Ltd. (AOE.AU) said Wednesday that the company has completed the sale of a 12% stake in the Tipton West Joint Venture to a unit of Royal Dutch Shell PLC (RDSA), subject to approvals.

Shell paid Brisbane-based Arrow A$49.5 million, half of the purchase price of A$99 million, to obtain a further 12% of the joint venture, with the balance payable after third party and regulatory approval, the company said in a statement.

Shell also will reimburse Arrow for 30% of any future contingent payments, or up to A$21 million, that the company makes to Beach Petroleum Ltd. (BPT.AU) under the terms of the Arrow/Beach Tipton West sale agreement, Arrow said.

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Arrow Energy Shares Rise After Report of Shell Bid

Aug. 17 (Bloomberg) -- Arrow Energy Ltd., Royal Dutch Shell Plc’s Australian partner in coal-seam gas production, rose in Sydney after the Sunday Telegraph reported that Shell made a A$3 billion ($2.5 billion) offer for the company.

Shell Offered $2.5 Billion for Arrow Energy, Telegraph Reports

BLOOMBERG

By Claudia Carpenter

Aug. 16 (Bloomberg) — Royal Dutch Shell Plc made an A$3 billion ($2.5 billion) bid for Arrow Energy Ltd., and the talks ended “in stalemate,” the Sunday Telegraph reported, without saying where it got the information.

Shell may return with a “revised approach,” according to the newspaper.

Shell spokeswoman Catherine Aitkin in The Hague declined to comment on the report to Bloomberg News. Calls made outside business hours to the office of Gareth Quinn, a Brisbane-based spokesman for Arrow, weren’t answered. E-mailed requests for comment weren’t responded to.

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Arrow Energy Has Talks On Possible Takeover

Arrow and Shell have both said previously that they've held talks about Arrow selling more gas to Shell. It would hardly be surprising if a potential takeover transaction came up in conversation.

FT Royal Dutch Shell related articles published 13 August 2009

Shell joins carbon capture plant race

By Fiona Harvey, Environment Correspondent

Published: August 13 2009 03:00 | Last updated: August 13 2009 03:00

Royal Dutch Shell will today enter the government-sponsored race to build a carbon capture and storage plant in the UK – becoming the only major oil company to do so.

It will join the consortium led by Scottish Power…

Arrow Energy

By Xi Chen in Hong Kong

Published: August 13 2009 07:46 | Last updated: August 13 2009 07:46

Arrow Energy, a partner of Royal Dutch Shell in gas exploration in Australia, rose 8.2 per cent amid market speculation that the company is in discussion of a potential takeover offer. From “Asian stocks lifted by Fed comments” (Subscription)

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Shell Pressing On With Gladstone LNG, Open To Consolidation

SYDNEY (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) says it's open to consolidation with rival liquefied natural gas projects in Queensland state but is pressing ahead with plans for a terminal on its own.

Arrow to Buy Beach Gas Asset for Up to A$400 Million

April 3 (Bloomberg) -- Arrow Energy Ltd., the Australian coal-seam gas producer, agreed to buy Beach Petroleum Ltd.’s stake in a gas venture for as much as A$400 million ($287 million) after failing in a bid for Pure Energy Resources Ltd.

BG succeeds in bid for Pure Energy

Rumours have recently been circulating in Australia that either BG or Shell might make a bid for Santos, another company with interests in Queensland’s coal bed methane with a market capitalisation of about A$10bn.

BG wins control of Australia’s Pure in gas push

The bid for Pure initially pitted BG against its larger rival, Royal Dutch Shell, which already has a joint venture with Arrow developing coal bed methane in Australia and elsewhere. However, Shell undermined Arrow's chances of winning Pure when it said last month that, in the absence of a higher offer, it would sell its own 11 per cent stake to BG.

BG Group Has Majority Control of Pure Energy

Rival bidder Arrow Energy, which is Royal Dutch Shell's Australian joint-venture partner, holds about 20% of Pure and hasn't said whether it will sell its stake into BG's bid.

BG takes majority control of Pure Energy

Rival bidder Arrow Energy, which is Royal Dutch Shell's Australian joint venture partner, holds about 20pc of Pure and hasn't said whether it will sell its stake into BG's bid.

BG Group wins control of Pure Energy

The bid for Pure initially pitted BG against its larger rival Royal Dutch Shell, which is a joint venture partner of Arrow in developing coal bed methane in Australia and around the world. However, Shell undermined Arrow’s chances of winning Pure when it said last month that it would sell its 11 per cent stake to BG, in the absence of a higher offer.
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