MELBOURNE | BY SONALI PAUL: Business 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 […]
Posts Tagged ‘Arrow Energy’
To the relief of Shell, the Australian Competition and Consumer Commission waved through the mega-merger on Thursday… 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 […]
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 […]
Plan for equality on Shell merger 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 […]
Article by Angela Macdonald-Smith: Energy 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 […]
Angela 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 […]
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. Angela Macdonald-Smith: January 20, […]
10th Dec 2013 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 […]
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. Bob Lamont 26th Nov 2013 6:28 AM ARROW Energy’s major shareholders are Royal Dutch Shell and […]
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. By Andrew Callus LONDON Tue Nov 12, 2013 2:56pm GMT (Reuters) – The Arrow gas export project in Australia is […]
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, […]
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 […]
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 […]
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 […]
Paul Garvey From: The Australian June 06, 2012 12:00AM 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 […]
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 […]
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 Australias Foreign Investment Review Board to buy Bow Energy Ltd. for A$535 million ($534 million). The transaction was also cleared by Chinese authorities, […]
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 […]
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 […]
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 […]
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.
By James Paton – Aug 26, 2010 4:48 AM GMT+0100 Royal Dutch Shell Plc has brought the former manager of Sakhalin-2, Russias first liquefied natural gas project, to Australia to oversee development of a proposed venture that may cost more than $20 billion. Shell, OAO Gazproms partner in the $22 billion Russian project, assigned Hilary […]
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 companys stricken oil well on the Gulf of Mexicos floor, preventing any oil or gas from escaping the well. Behind the News Initially, the caps valves […]
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 […]
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. […]
April 30 (Bloomberg) — Royal Dutch Shell Plc and PetroChina Co. received approval from Australias Foreign Investment Review Board to acquire gas producer Arrow Energy Ltd. in a A$3.5 billion ($3.3 billion) transaction.
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- […]
By Ben Sharples April 6 (Bloomberg) — Royal Dutch Shell Plc said the companys 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 […]
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. […]
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 […]
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.
March 16, 2010 David Wighton: Business Editors 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? read more
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.
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 companys gas assets in Australias Queensland state, the Australian Financial Review reported, without saying where it got […]
Feb. 19 (Bloomberg) — Arrow Energy Ltd., Royal Dutch Shell Plcs coal-seam gas partner in Australia, won government approval to build a pipeline to the proposed Fishermans Landing liquefied natural gas plant in the state of Queensland.
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 Arrows gas, it would seem Shell is in the ideal position to dictate terms, given it is the logical party to commercialise the project.
Sept. 24 (Bloomberg) — Arrow Energy Ltd., Royal Dutch Shell Plcs 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.
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 […]
Aug. 17 (Bloomberg) — Arrow Energy Ltd., Royal Dutch Shell Plcs 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.
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 […]
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.
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 […]
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.
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.
Rumours have recently been circulating in Australia that either BG or Shell might make a bid for Santos, another company with interests in Queenslands coal bed methane with a market capitalisation of about A$10bn.
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.
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.
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.
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 Arrows 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.
Gordon Gray, an oil analyst for Collins Stewart, said that a big increase in Shell’s debt was inevitable while share buybacks were completely off the agenda. He predicted that Shell’s net debt would rise from $8 billion in 2008 to as much as $23.9 billion this year – from a gearing level of about 6 per cent of its equity to nearly 17 per cent. He projected that Shell’s net debt could peak next year at more than $30 billion, depending on how long oil prices remained depressed.