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Posts Tagged ‘Gas’

The Pipeline Trump Says Risks Making Germany ‘a Captive of Russia’

By Elena Mazneva and Laurence Arnold: 11 July 2018

A planned natural-gas pipeline, Nord Stream 2, is the latest point of friction between U.S. President Donald Trump and German Chancellor Angela Merkel. At a summit meeting of North Atlantic Treaty Organization members, Trump said the pipeline risks making Germany “a captive of Russia.” He’s not the first American leader to criticize the pipeline project, and the U.S. isn’t alone in its disapproval. FULL ARTICLE

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If Putin Sakhalin2 blackmail tactics were applied in Groningen Gas debacle negotiations

Below is an English translation of a Dutch article published by the NRC last night. It suggests that Shell and Exxon are getting away with very good terms in regards to the financial fallout from the Groningen earthquake damage debacle. Basically Shell and Exxon are cleverer than the negotiators of the Dutch government. The article author Menno Tamminga makes the comparison ‘how would Putin have handled this’? With referral to Putin blackmail tactics used against Shell in the Sakhalin2 debacle. read more

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Shell shuts down Norway’s Knarr oil and gas field due to strike

REUTERS STAFF: 10 JULY 2018

OSLO (Reuters) – Royal Dutch Shell (RDSa.L) is shutting down production at its Knarr field in the North Sea after workers walked out on strike on Tuesday, the company said.

“As a result of the strike, Knarr is closing its production in the Norwegian North Sea,” said Shell spokeswoman Kitty Eide. “We started shutdown operations this morning and to complete them can take up to 36 hours. As soon as the strike is over, we will restart production. No other fields or platforms that we are operator of are affected by the strike.”

Production at Knarr is 3,800 standard cubic metres of oil equivalents. It produces mostly oil, with some natural gas liquids and gas production.

The partners in the Knarr field are Japan’s Idemitsu (5019.T), Wintershall [WINT.UL] and DEA, according to data from the Norwegian Petroleum Directorate. read more

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Shell ramps up in Kitimat, raising Canada’s $30B LNG hopes

NATALIE OBIKO PEARSON, BLOOMBERG: July 9, 2018

A flurry of activity is raising optimism that Royal Dutch Shell Plc and its partners are ready to go ahead with the nation’s largest infrastructure project: a $40 billion liquefied natural gas terminal that could at last unlock energy exports to Asia.

The action is unmistakable in Kitimat, the Pacific coast city hugging a deep inlet that would be the closest launch point on the continent for LNG cargoes to Asia. The lights are on, shades open and SUVs parked outside a 49-unit apartment complex built to house Shell executives, which sat mostly darkened for the last two years. Local workers have left jobs at a Rio Tinto Plc smelter nearby to join contractors ramping up for the LNG project. Landlords are raising rents and houses are selling twice as fast as they used to in anticipation of a flood of workers coming to town. read more

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Big Oil’s Next Major Move

By Tim Daiss – Jul 08, 2018, 10:00 AM CDT

Several oil majors, including Royal Dutch Shell and BP, are boosting their share of natural gas output. A Bloomberg report said these two oil companies, by increasing gas production, are trimming the lead between them and ExxonMobil, the world’s largest publicly traded oil company. ExxonMobil has a current market cap of $348 bn, while Shell has market cap of $317 bn, and BP at $156 bn.

BP expects by 2020 to produce about 60 percent gas and 40 percent oil, a reversal from 2014 when it was the opposite – a pivot that many other oil companies will likely follow. ExxonMobil for its part currently produces about 55 percent oil and 45 percent gas and remains the largest natural gas producer in the US. Shell’s acquisition of UK-based BG Group for $50 bn in 2016 boosted the share of natural gas to 50 percent of its global fossil fuels output and made it the world’s largest natural gas trader. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Groningen Earthquake Victim Compensation

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Three quarters of Groningen victims accept NAM offer

Louis Hoeks • Economics & Politics

Of all 6199 Groningers with outstanding reports about earthquake damage to their homes, almost 74%, 4562 people, accepted the offer from the Nederlandse Aardolie Maatschappij (NAM) for compensation. In almost 10% of cases, the proposal was rejected and almost 17% have not yet responded. This is apparent from a letter that Dutch Minister Eric Wiebes of Economic Affairs and Climate sent to the House of Representatives on Thursday.

These are claims for compensation that were submitted before 1 April 2017 and therefore do not fall under the damage protocol presented on 31 January of this year. “We are unhappy that some people have rejected NAM’s offer,” said Wiebes Thursday in a parliamentary debate. The minister spoke with NAM, together with Commissioner of the King René Paas. read more

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The Netherlands Can’t Afford To Keep Its Natural Gas Promise

By Vanand Meliksetian – Jul 03, 2018, 3:00 PM CDT

The Netherlands has been the source of cheap energy for northwest Europe for the past decades. The discovery of the Groningen gas field, the 9th largest in the world, provided a reliable source of energy in a period when the oil market was rocked by embargos due to the Yom Kippur War in 1973. The future of the Dutch gas sector, however, looks bleak due to two important developments in 2018: a political decision to reduce production with a timeline to stop entirely until 2030 and a new climate agreement. The Netherlands is preparing to make major changes regarding the role of gas in people’s lives. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Question-mark over NAM Groningen Earthquake Damage Guarantees

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Nijboer wants reaction from cabinet to NAM guarantees

Carel Grol • Entrepreneurship

Member of Parliament Henk Nijboer (PvdA) wants a response from the government to the message in the FD that Shell and ExxonMobil offer limited security with the NAM agreement. Lawyer and professor Steef Bartman of Leiden University wrote in an opinion piece in this newspaper on Monday, in which he wondered whether NAM can fulfill its obligation to damage and strengthen at any time.

A week ago Minister Eric Wiebes of Economic Affairs concluded a deal with Shell and ExxonMobil. The oil companies said they stood surety for ‘Groningen’. However, a number of provisions leave room for Shell and ExxonMobil to renegotiate in the future the guarantees issued and the financial distribution of gas revenues. read more

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Royal Dutch Shell: Streamlining Assets

Jun. 30, 2018 12:54 AM ET

Summary

  • Renewal of assets with great focus on the future.
  • Natural gas as energy source will continue to grow.
  • Share buybacks and generous dividends.

Background

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has been actively focusing on what kind of business it wants to be involved in. Part of this activity is to change the composition of its assets. It has been selling plants and oil licenses, and invested where it wants to position the company.

Disposals have also been done to reduce the total debt level. Much of the debt came from the $35 billion acquisition of BG Group back in March of 2016.

Disposals

Early this year, Shell communicated that its plans were to leave oil and gas operations in as many as 10 countries and instead focus more heavily on gas-rich Australia and shale opportunities in the United States. read more

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U.S. sanctions will not affect Nord Stream 2, German ministry says

|By: , SA News Editor

  • Germany has been assured by the U.S. that any sanctions imposed on Russia will not affect construction of the Nord Stream 2 gas pipeline to bring Russian gas to Europe, says a spokesperson for Germany’s economy ministry.
  • The U.S. embassy in Berlin says there has been no change in policy, Reuters reports.
  • The Nord Stream 2 consortium, consisting of Russia’s Gazprom (OTCPK:OGZPY) and five European companies – Royal Dutch Shell (RDS.ARDS.B), BASF’s (OTCQX:BASFY) Wintershall, Engie (OTCPK:ENGIY), OMV (OTCPK:OMVJF) and Uniper (OTC:UNPPY) – last month started preparatory work in the Greifswald bay off Germany’s Baltic coast on a new twin pipeline that will double Russia’s export capacity of 55B cm to Germany.
  • Separately, Gazprom CEO Alexei Miller says the company can set a new gas export record of nearly 200B cm this year, up nearly 3% Y/Y, breaking last year’s record volume of 194.4B cm of gas to Europe and Turkey.
  • read more

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    Shell’s festival of unbelievable bullshit

    By Darren Cullen, artist and writer

    When a corporation’s business model revolves around destroying the possibility of human life on earth, sometimes people think that’s not a good thing and they ask if they could maybe not do that. But there’s something about the billions of dollars a corporation can make from engineering the apocalypse that makes it want to not stop, and makes it want to do it more. So instead of not killing everyone, corporations like Shell turn to advertising to make killing everyone seem actually kind of cool. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Gas production at Groningen field falling faster than planned

    |By: , SA News Editor

  • Production at the Groningen natural gas field will come in lower than expected this year as the Dutch government works to end production completely by 2030 in an effort to limit seismic risks in the region.
  • Output will have fallen to 19B-20B cm in the year ending October 2018, the Dutch gas sector regulator says, below the original cap of 21.6B cm set for the year and down from 24B cm last year.
  • The Groningen field is a joint venture of Royal Dutch Shell (RDS.ARDS.B) and Exxon Mobil (NYSE:XOM)
  • read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    False impression given over Shell/Exxon Groningen deal with Dutch Government?

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

    Shell and Exxon pay much less to Groningen funds

    Ulko Jonker, Carel Grol • Economics & Politics

    The State pays almost 90% of the € 1 billion fund for Groningen and the oil companies Shell and ExxonMobil only pay € 135 million on balance. This is confirmed by the Ministry of Finance, after questions from the FD. At the presentation of the deal between the State on the one hand and Shell and Exxon on the other, about the end of the gas production in Groningen, the impression was still created that each accounted for half.

    On Monday, the agreement was signed between the Ministry of Economic Affairs and Shell and ExxonMobil, each with a 50% stake in NAM. They will refrain from claims against the State, and would deposit € 500 million into a fund for Groningen. That was the result of ‘tough negotiations’, as Rolf de Jong, CEO of ExxonMobil Benelux put it. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell and ExxonMobil waive gas claims against Dutch State

    Groningen Earthquake Damage: ‘Due to the declining gas extraction and the increased costs of damage and reinforcement, the current so-called payment scheme is no longer tenable’

    Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladNAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

    Shell and ExxonMobil waive gas claims against State

    From our editor • Economics & Politics

    Shell and ExxonMobil, each with an interest of 50% in NAM, will waive a claim against the State for the gas that remains in the ground after the extraction has ended. Furthermore, the two oil companies offer guarantees that NAM can and will always pay for earthquake damage and the reinforcement of buildings.

    This is evident from the agreement in broad lines that Minister Eric Wiebes of Economic Affairs and Climate has concluded Monday with Shell and ExxonMobil about gas extraction from the Groningen field. It is expected that around 450 billion cubic meters of gas will remain in the ground after the extraction. At the current gas price, this represents a value of around € 70 billion. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell approves second North Sea project this year

    |

    By: , SA News Editor

    Royal Dutch Shell (RDS.ARDS.Bapproves its second North Sea project in six months, moving forward with development of the Fram natural gas field it considered uneconomical to produce six years ago. Shell, along with partner Exxon Mobil (XOM -1.7%), says it plans to produce as much as 13K boe/day from two wells in the Fram field by 2020, adding ~10% to the company’s current output in the U.K. North Sea. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Shell, Exxon not to seek compensation for end of Groningen gas production: government

    Shell, Exxon not to seek compensation for end of Groningen gas production: government

    Reuters Staff: Monday June 25, 2018

    AMSTERDAM (Reuters) – Energy companies Royal Dutch Shell and Exxon Mobil will not submit a claim for missed revenue due to the Dutch government’s decision to halt gas production at the Groningen field by 2030, the Dutch ministry of Economic Affairs said on Monday.

    “A lot of gas will be left in the ground,” Economy minister Eric Wiebes said at the presentation of his deal with the oil majors responsible for extracting Groningen gas.

    “That gas is the property of the oil companies, but they will not submit a claim and the government is not required to compensate them.” read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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