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Posts Tagged ‘Ben van Beurden’

Shell and Petrobras sign technical cooperation agreement to strengthen deep water partnership

NEWS PROVIDED BY: Shell Oil CompanySep 11, 2017, 14:14 ET

RIO DE JANEIRO, Sept. 11, 2017 /PRNewswire/ — Royal Dutch Shell and Petrobras signed last week in The Hague, Netherlands, a Memorandum of Understanding (MoU) to establish a long-term mutual collaboration in developing pre-salt fields in Brazil. 

In true partnership spirit between two of the world’s largest energy companies, Shell will benefit from technical solutions, contract management expertise and cost efficient initiatives Petrobras applies to Brazil’s pre and post-salt projects. Shell will share with Petrobras its global deep water experience, especially on cost efficiency efforts and use of technology. The MoU also involves sharing best practices and learnings on safety and governance management, technical and operational solutions, contract management, logistics, wells construction and air transportation safety. The document was signed by Shell CEO Ben Van Beurden and Petrobras CEO Pedro Parente, during a visit by Petrobras’ executives to the Shell headquarters. FULL ARTICLE read more

The North Sea Oil Recovery Is Dead In The Water

At an oil industry conference in the North Sea’s oil capital, Aberdeen, the chief executives of BP and Royal Dutch Shell both offered bullish assessments for the turnaround underway off the coast of Scotland. BP’s Bob Dudley said the North Sea is “back to growth,” according to the FT. So, far from a boon for the country, the North Sea is in danger of becoming “a significant annual expenditure for government, rather than a provider of income” in the decades to come, according to a Wood Mackenzie assessment from earlier this year. FULL ARTICLE read more

Shell Is Nothing Short Of Exemplary

Earnings Forecast Focus: Sep. 5, 2017 6:49 PM ET

Summary

  • Shell CEO Ben van Beurden’s “lower forever” quote was aimed at operating costs and overall company culture. It does not reflect the CEO’s oil price outlook.
  • The company’s operational excellence has been nothing short of exemplary.
  • Scrip dividend will be removed when gearing is down to 20% from the current 25%.
  • At the current rate, it should take no more than twelve months to reduce the gearing to 20%.
  • Obviously, the dividend is safe. More importantly, this is an opportunity to buy a company with excellent leadership.
  • read more

    The North Sea must ‘earn its right to grow’, says Shell boss

    Jillian Ambrose: 

    The North Sea still has the support of supermajors BP and Royal Dutch Shell but the basin will need to earn its right to grow within a rapidly changing energy landscape, oil bosses have warned. Oil industry heavyweights have converged on Aberdeen this week for a conference focused on the future of the North Sea as oil majors shift their portfolios towards low cost oil, petroleum products, gas and even renewables. Ben Van Beurden, Shell’s chief executive, said the Anglo-Dutch group is still committed to the basin after its $3bn sell-off to private equity backed Chrysaor, but added that the North Sea needs to “earn its right to grow” amid “challenging times” for the oil and gas sector. FULL ARTICLE read more

    Shell’s Ben van Beurden: Oil vs Uber in the battle of reputations

    Written by

    But it wasn’t oil price, or strategy that landed him prime time interviews. Instead, it was the comment that his next car would be electric. “It wasn’t a planned remark, it just came out,” he said. “But it shows how charismatic renewables and electricity is at the moment, much more charismatic than gas and definitely much more charismatic than oil.” A perception that oil and gas have a shrinking role to play is one the industry needs to address head-on. “If you really want to be charismatic about what needs to happen in a big way you would focus on gas,” he said. And that includes an education around renewables. FULL ARTICLE read more

    Exclusive: Shell’s CEO – Oil slide is “biggest blessing”

    Written by

    Ben van Beurden’s rise to the top coincided with the oil price riding the crest of a wave.

    But for a man who assumed Shell’s chief executive role just months before it all came crashing down, he sums up the last three years as “a blessing”.

    “Less than a year into my new role, the oil price started going down and it’s been quite a journey, but if I look back on it I think this is probably the biggest blessing that I’ve had,” he said.

    “It has done two things. First of all it provided a tremendous amount of focus on the things that needed doing. I mean, there’s nothing like a crisis to focus on cost efficiency. read more

    Exclusive Interview: Ben van Beurden – No North Sea retreat

    Written by

    Ben van Beurden hailed the region’s “tremendous” progress.

    His commitment to the region comes after it sold more than half of its North Sea oil and gas fields for $3.8billion to Chrysaor.

    The sell-off included interests in the fields Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine, and a 10% stake in Schiehallion.

    Mr van Beurden insisted the shift in assets was about breathing new life into the portfolio Shell ring-fenced to keep.

    Speaking exclusively to Energy Voice from his Hague office, he said: “The North Sea has improved tremendously. “It’s one thing to say, look at what Shell’s selling. read more

    Oil giants donate $23 million for Harvey victims

    Harvey has soaked Texas with the heaviest rainfall in US history. Texas officials said more than 185,000 homes were damaged and 9,000 destroyed as 42,000 people remain in shelters amid overflowing rivers and reservoirs.

    “In the community, Shell staff have helped out so many in need that people are flagging down anybody wearing the company pecten symbol to say thank you,” Shell CEO Ben van Beurden wrote in a LinkedIn article on the storm. FULL ARTICLE

    What You Missed in Royal Dutch Shell plc’s Quarterly Report

    What Shell looks like now

    There’s no question about how Royal Dutch Shell makes money. It is one of the world’s largest oil and natural gas drillers, with a large footprint in liquified natural gas. Oil and gas have been the driving force, broadly speaking, throughout all of the company’s over 100-years of existence. Investor questions generally focus on what management is doing to support and grow its core operations. FULL ARTICLE

    Storm Harvey: Shell boss takes stock of disruption

    Rise of electric cars challenges the world’s thirst for oil

    by: , Energy Editor: 8 Aug 2017

    Ben van Beurden, chief executive of Royal Dutch Shell, made no attempt to disguise the challenge facing “Big Oil”. Companies must become more discriminating about which oilfields to develop, he said, with only the most low-cost and productive likely to remain competitive. “We have to have projects that are resilient in a world where demand has peaked and will be declining,” he said. “When will this happen? We do not know. But will it happen? We are certain.” FULL FT ARTICLE read more

    $45m claim against Shell Brunei involving another leak

    By John Donovan

    Amrtur Corporation, a supplier of drill pipes and other oil industry services, has sent a letter before action making a $45m claim against Shell’s Brunei business. The move is said to be triggered by cuts resulting from the fall in oil prices. According to a report in the FT: “Amrtur asserts it suffered lost revenues of B$61.2m ($45m) between 2012 and 2016 due to alleged breaches of its contracts with Brunei Shell Petroleum Company, the 50-50 partnership between the government and Royal Dutch Shell.” read more

    Retired Shell official accuses company of ‘more leaks than the White House’

    Bill Campbell, retired HSE GROUP AUDITOR, Shell International, comments on Paddy Briggs damning conclusion about Shell FAT CATS

    The Lonely Elephant

    Prelude may or may not turn out to be a white elephant but certainly from the leaked transformation documents it would appear it will be in any case a lonely elephant. 20 some years in gestation it appears that mega FLNG projects are out. As for the fat cats Paddy if Shell continues to leak (Pernis et al), more leaks than the White House, the fat cats may not be around. Are they taking their eye of the ball – who is running the business, with all this transformation stuff and reported loss of common sense and experience I read about on this website from current employees, it makes you think. read more

    Shell and BP’s commitment to North Sea oil ‘rock solid’

    Ben van Beurden, chief executive of Shell, has signalled that he too is once again viewing the North Sea as an investment opportunity, despite selling more than half of the group’s UK production to Chrysaor, a small UK company backed by US private equity funds, for up to $3.8bn in January. Last month, Mr van Beurden identified the Penguins field in the northern North Sea as among a handful of projects around the world that Shell would consider giving the green light to in the next 18 months. FULL FT ARTICLE read more

    SHELL JOBS UPHEAVAL

    By John Donovan

    Today we publish the opening pages of Shell’s internal consultative document which, although directed at Shell’s Dutch employees, includes a detailed description of Shell’s proposed global organisation changes.

    With regards to the Shell VP musical chairs analogy, a Shell Blog contributor has pointed out “50% of VPs would have to leave, and GM level even more.”

    The content of the Shell document is all valuable, commercially sensitive insider information, most definitely not meant for consumption by the public, Shell shareholders, or Shell’s competitors.  read more

    BP and Shell face huge challenge from switch to electric cars

    Emily Gosden, Energy Editor: 31 July 2017

    Oil investors are getting worried. Electric cars have accelerated on to the front pages. Sales are surging, carmakers are unveiling plans for all-electric models and this week Britain vowed to ban sales of petrol and diesel cars by 2040. Yet if Big Oil believes that death is about to pull up in a Tesla, it’s doing a good job of hiding it. On Thursday, Ben van Beurden, the boss of Royal Dutch Shell, welcomed Britain’s plans and declared that his next car would be electric. And earlier in the year Spencer Dale, BP’s chief economist, bluntly described the arrival of electric vehicles on the oil majors’ lawn as “not a game-changer”, adding that not even “enormous” growth in sales of such vehicles would make a big dent in global oil demand. As Big Oil evolves into Big Energy, the sight of Mr van Beurden behind the wheel of an electric vehicle might not seem so crazy, so long as he’s charging it up on a Shell forecourt. read more

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