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Posts Tagged ‘Gas’

Norway shakes oil world by dumping investments

Norway is western Europe’s biggest oil producer and its giant sovereign wealth fund wants to reduce its exposure to oil which hit shares in BP and Royal Dutch Shell. Oil platforms in the Cromarty Firth, ScotlandANDREW MILLIGAN/PA

Norway’s giant sovereign wealth fund has unveiled plans to dump its entire holding in oil and gas companies in a $37 billion sell-off that was welcomed by campaign groups but put downward pressure on share prices. The $1 trillion fund, which manages the assets of the oil-rich nation, signalled its intent to prune its exposure to companies including BP and Royal Dutch Shell in a move aimed at making it less vulnerable to a permanent drop in the price of crude. SOURCE read more

UPDATE 2-Dutch court rejects government’s Groningen gas production plan

Wednesday’s decision was met with jubilation from Groningen citizens, many of whom have seen their houses damaged by the thousands of small earthquakes triggered by the gas extraction.

By Bart H. Meijer: NOVEMBER 15, 2017

THE HAGUE, Nov 15 (Reuters) – The highest Dutch administrative court has rejected the government’s plan to cap production at a major gas field that has caused damaging earthquakes, saying it might be possible to cut output further without endangering supplies.

The decision adds another chapter to the long fight over gas production in the northern Dutch province of Groningen, where citizens accuse the government of endangering their lives while protecting gas revenues. read more

Shell Says Yes To Free Cash Flow, No To Debt

Callum Turcan: Nov 15, 2017

Summary

  • Royal Dutch Shell generates free cash flow in Q3.
  • Outlook for Q4, even in light of impending capex increase, looks bright due to Brent rallying.
  • Over $10 billion in net debt reduction since the end of Q3 2016.
  • Overview of Q3 results and what to expect going forward.

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has come a long way since it bottomed out in early-2016. Its latest earnings reportreinforced the notion that when Brent is trading in the $50s, Shell’s cash flow position becomes balanced. Cash flow neutrality is the key breakeven point for the industry in the current environment, as oil & gas giants need to show that they can cover capital expenditures and large dividends through organic means at realistic prices. Let’s check out how Royal Dutch Shell did in a low $50s Brent world, with an eye on organic cash inflows and outflows. FULL ARTICLE WITH CHARTS read more

Woodside Falls Most in Year After Shell to Sell Stake

Shares falls as much as 3.5% in early Australia trading

Allan Gray Australia says it boosts stake in the LNG producer

Woodside Petroleum Ltd. fell the most in a year after Europe’s biggest oil company, Royal Dutch Shell Plc, said it would offloaded its entire holding in the Australian liquefied natural gas producer for $2.7 billion. Woodside shares fell as much as 3.5 percent in intraday trading on Tuesday to A$31.10 ($23.74), and changed hands at A$31.19 at 11:51 a.m. in Sydney. Shell said it would sell an 8.5 percent stake in Woodside at A$31.10 a share, a 3.5 percent discount to Woodside’s closing price on Monday. The Anglo-Dutch company then expanded that sale overnight to exit its remaining 4.8 percent holding. FULL ARTICLE read more

Why Energy Giants Will Continue to Dominate LNG Market

Trade in the $90 billion market for the superchilled gas is poised to double by 2040: Photographer: Tomohiro Ohsumi/Bloomberg

Total SA’s billion-dollar deal to buy liquefied natural gas assets from Engie SA shows how much size matters in the industry. 

After Royal Dutch Shell Plc’s takeover of BG Group Plc last year, industry consultant Wood Mackenzie Ltd. says the latest accord is evidence that the biggest energy companies with access to large volumes of diverse supplies will continue to dominate, even as commodity traders from Glencore Plc to Trafigura Group Pte are expanding.  read more

Shell’s LNG Strategy A Great Complement To Overall Operations

Zoltan Ban: Nov 13, 2017

Summary

  • LNG is set to see robust growth on the back of growing global dependence on natural gas. The LNG industry will provide more supply security, which will be increasingly desired.
  • Shell has become a global leader in LNG, after the BG merger.
  • The advantage of investing in Shell as a way to play the LNG growth story is the fact that its downstream segment will act as a hedge in bad times.
 FULL ARTICLE

RESTRICTED: Not to be circulated outside Shell

 

EMAIL SENT BY JOHN DONOVAN TO SHELL 13 NOVEMBER 2017

From: John Donovan <[email protected]>
Subject: LEAKED ICO QUARTERLY COMPETITIVE REVIEW: Q3 2017
Date: 13 November 2017 at 12:43:37 GMT
To: [email protected]
Cc: “[email protected]” <[email protected]>

Hello Ms Asselin

I am in possession of a leaked 19 page document published by Shell yesterday 12 November 2017 entitled ICO QUARTERLY COMPETITIVE REVIEW: Q3 2017.

I note that it bears the warning:
“RESTRICTED: Not to be circulated outside Shell.

Your name appears as the lead contact. read more

Shell to Divest Interest in Woodside Petroleum for $1.7bn

by  Andreas Exarheas: Rigzone Staff: Monday, November 13, 2017

Royal Dutch Shell plc revealed Monday that it will sell part of its stake in Woodside Petroleum Limited to equity investors for around $1.7 billion.

The company’s subsidiary, Shell Energy Holdings Australia Limited (SEHAL), has entered into an underwriting agreement with two investment banks for the sale of 71.6 million shares in Woodside, representing 64 percent of its interest in the company and 8.5 percent of the issued capital, at a price of A$31.10 per share, resulting in total pre-tax proceeds of approximately $1.7 billion (A$2.2 billion). read more

Parts of multi-billion dollar Shell Oil project being constructed in Port of Iberia

Published: Updated:

PORT OF IBERIA (KLFY) – Shell Oil is in the process of conducting one of its largest projects across the globe and a big part of that project was completed right here in Acadiana. Dynamic Industries, a fabrication company operating in the Port of Iberia, has recently been building large modules for the past two years as part of a larger Shell Oil project. “It’s part of Shell Oil’s Appomattox project, the largest project on earth for Shell Oil and it’s about a 17 billion dollar project,” says Craig Romero, Port Director. FULL ARTICLE read more

Shell warned against resuming operations in Ogoni

By Jimitota Onoyume PORT HAR-COURT— 9 November 2017

THE people of Ogoni have again enjoined the Federal Government to ensure that oil giant, Shell Petroleum Development Company, SPDC, does not resume operations in the area. National Coordinator, Ken Sarowiwa Associates, Chief Gani Tobpa, in a statement in Port Harcourt, Rivers State, also called on companies intending to operate OML 11 to disclose how they will protect Ogoni communities from another round of environmental pollution, adding that they should also indicate how they would create a robust economy for the people. “Ken Saro Wiwa Associates condemns in strong terms the continued romance among the Federal Government, Nigerian National Petroleum Corporation, NNPC, and SPDC with respect to oil exploration activities in OML 11. We call on the Federal Government to revoke the Oil Mining Lease given to SPDC. FULL ARTICLE read more

Shell’s LNG Bunker Barge Will Fuel Giant Cruise Ships

By MarEx 2017-11-08 19:53:39

Shell has reached an agreement with Carnival Corporation to provide bunkers for two new LNG-fueled cruise ships, which will be the first of their kind in North America and the largest of any kind in Carnival’s fleet. The new partnership will provide a major customer for Shell USA’s LNG Bunker Barge, a Jones Act ATB unit that will be operated by Harvey Gulf under charter to Shell. The first-of-its kind vessel will refuel Carnival’s vessels at ports in the U.S. Southeast. Shell is replicating this strategy in Europe, where it has chartered a small LNG bunkering vessel from Victrol that will be based in Rotterdam. FULL ARTICLE read more

Level 1 event prompts flaring at Shell Monday, ‘No health impacts,’ company says

November 8, 2017

MARTINEZ, Calif. – Shell Martinez Refinery experienced an unspecified “Level 1” event Monday afternoon, forcing the plant to use flaring to combust excess gas, refinery officials said. Some residents were alarmed to see flames from the stacks, but Ann Notarangelo, external relations manager for Shell Martinez Refinery said the flaring was a proper approach. FULL ARTICLE

Oil platform fire in Gulf of Mexico injures 2

Two people were injured Wednesday morning (Nov. 8) in a fire on a Shell oil platform in the Gulf of Mexico, the company said. The remaining 46 workers were safely evacuated. A Shell spokesman said the fire happened at 1:30 a.m. Wednesday on its Enchilada platform at Garden Banks 128. Shell said it had identified the source of the fire and was “actively responding to the situation.” FULL ARTICLE read more

Shell expands marine LNG bunkering network with U.S.-based LNG barge

HOUSTON, Nov. 7, 2017 /PRNewswire/ — Shell Trading (US) Company announced today it has finalized a long-term charter agreement with Q-LNG Transport, LLC for an LNG bunker barge with the capacity to carry 4,000 cubic meters of LNG fuel.  As the first of its kind to be based in the United States, the ocean-going LNG bunker barge will supply LNG to marine customers along the southern East Coast of the U.S. and support growing cruise line demand for LNG marine fuel. FULL ARTICLE read more

Shell Prelude FLNG named as FieldComm Group 2017 Plant of the Year

06 November 2017

The Shell Prelude Floating Liquefied Natural Gas (FLNG) plant/ship of Royal Dutch Shell, which will be located in the Timor Sea off the North West coast of Australia, has been named as the FieldComm Group 2017 Plant of the Year.

Having recently completed the journey to its final destination, 200-km off the Australian mainland, it will be connected to Deepwater gas wells and is scheduled to begin regular operations in 2018. The 488m x 71m vessel’s 14 production facilities, rising eight stories above the deck will extract and process around 3.6 million tonnes per year of liquefied natural gas (LNG) during its 25-year lifespan. FULL ARTICLE

Royal Dutch Shell takes cashflow crown off Exxon Mobil

Royal Dutch Shell has taken Exxon Mobil’s cashflow crown, a year after completing the biggest deal in its history.

Europe’s largest energy company vaulted ahead on this closely watched indicator of financial health in the first nine months of 2017 as assets acquired from BG Group from Brazil to Australia churned out cash. For the year as a whole, Shell is on course to surpass its larger US rival on the measure for the first time in about two decades.

Shell generated $28.38 billion (€24.34bn) of cashflow from operations in the first nine months of the year, compared with $23.52 billion (€20.18bn) from Exxon. Chief executive Ben Van Beurden has already spelled out that his main long-term goal was overtaking Exxon to become the best-performing oil major. read more

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