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Posts Tagged ‘China’

China May Be Among World’s Top Gas Markets by 2020, Shell Says

By Bloomberg News

March 20 (Bloomberg) — China may become of the world’s biggest natural gas markets by 2020 as the country seeks to reduce its carbon intensity by increasing the use of cleaner burning fuel, Royal Dutch Shell Plc Chief Executive Officer Peter Voser (above) said today at a forum in Beijing.

Shell is working together with PetroChina Co., the nation’s largest oil producer, to seek new energy sources in China, Voser said, according to a Web cast of the conference on the Web site of the official People’s Daily in the Chinese language.

To contact the reporter on this story: Ying Wang in Beijing at ywang30@bloomberg.net

Last Updated: March 20, 2010 04:10 EDT

BLOOMBERG ARTICLE

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

PetroChina Confirms Joint Bid With Shell For Arrow; No Details

THE WALL STREET JOURNAL

MARCH 7, 2010, 9:01 P.M. ET

BEIJING (Dow Jones)–PetroChina Co (PTR) has just launched a bid with Royal Dutch Shell PLC (RDSA) for Australian energy producer Arrow Energy (AOE.AU), Jiang Jiemin, chairman of PetroChina confirmed Monday.

The joint bid was in its early stages and there was no timetable for the process, he said.

He declined to give details, such as the percentage share of PetroChina and Shell.

Jiang was speaking on the sidelines of China’s National People’s Congress, the nation’s annual legislative session, which ends March 14.

-Wan Xu contributed to this article; Dow Jones Newswires; 8610-84007799; wan.xu@dowjones.com

WSJ ARTICLE

Shell to axe another 1,000 jobs and close last UK refinery

Oil firm will sell 15% of refinery operations and slow down tar sands projects as fourth-quarter profits fall by 75%

Click to continue reading “Shell to axe another 1,000 jobs and close last UK refinery”

Shell Sells 3 Nigeria Oil Blocks To Local Companies

LONDON (Dow Jones)–The Nigerian joint venture company operated by Royal Dutch Shell PLC (RDSB.LN) agreed Friday to sell its 30% interest in three oil production licenses that have been shut down since 2008 to a consortium led by local companies for an undisclosed sum, the venture said in a statement.

Click to continue reading “Shell Sells 3 Nigeria Oil Blocks To Local Companies”

Yar’Adua’s absence stalls Nigerian oil reforms

While stressing Nigeria’s importance, Shell chief executive Peter Voser earlier this month played down its significance to the company’s global activities. “Nigeria is still a heartland for Shell, but we no longer depend on it for our growth aspirations. This gives us more flexibility in deciding when and how to develop oil and gas resources in Nigeria,” he said. – Sapa-AFP

Click to continue reading “Yar’Adua’s absence stalls Nigerian oil reforms”

Endless Oil

Not many people think of the Netherlands as oil country, but a billion-barrel field lies under a nine-mile strip of grazing land along the Dutch-German border. When oil prices cratered in the 1990s, Royal Dutch Shell and ExxonMobil shut the Schoonebeek field down. Company executives reckoned that its thick, hard-to-extract crude wasn’t worth the trouble, even though only about 25% of Schoonebeek’s oil had been produced. The main evidence of the town’s petroleum past was an old-fashioned bobbing oil pump, known as a nodding donkey, which still stands in a parking lot near a bakery. Now higher prices and technological advances are spurring a new joint venture of Shell, Exxon, and the Dutch government to pump Schoonebeek’s reserves once more.

Click to continue reading “Endless Oil”

Chinese in £3bn battle to buy Shell assets in Nigeria

Two Chinese government-controlled companies are among front-runners in a £3 billion battle for control of oil assets in Nigeria that have been put up for sale by Royal Dutch Shell.

Click to continue reading “Chinese in £3bn battle to buy Shell assets in Nigeria”

Kuwait says has alternatives for China refinery- oil min

KUWAIT, Dec 13 (Reuters) – Kuwait has an “alternative” investor for its joint venture China refinery with Sinopec (600028.SS) if Royal Dutch Shell (RDSa.L) pulled out from the project, the country’s oil minister said on Sunday.

Click to continue reading “Kuwait says has alternatives for China refinery- oil min”

Shell pulls out of $9bn refinery plan in China

Financial Times

By Ed Crooks, Energy Editor

Published: December 4 2009 20:49 | Last updated: December 4 2009 20:49

Royal Dutch Shell has pulled out of a proposed $9bn (£5.5bn) refinery project in China, in a sign of the difficulties faced by western oil companies seeking to profit from the country’s rapidly rising demand for energy.

Peter Voser, Shell’s chief executive, talked recently about how the company was seeking to shift its portfolio of refineries “from west to east”.

It has been pulling back in Europe, selling three refineries in France and entering talks with Essar of India to sell three more, two in Germany and one in the UK.

FULL FT ARTICLE (SUBSCRIPTION)