News and information on Shell Plc
By Andy Tully: Posted on Tue, 19 May 2015
Royal Dutch Shell’s $70 billion purchase of BG Group may not be as attractive as it once seemed.
According to BG’s 2014 annual report, if British-based BG were to be taken over by another company, the government of Kazakhstan would have the right to buy BG’s 29.25 percent share in a valuable Kazakh gas field, which so far has represented some 15 percent of the company’s total production and 9 percent of the $19 billion in revenue it made last year.
By Nariman Gizitdinov – Jan 11, 2012 6:00 PM GMT
The Kazakh government is considering a request from Exxon Mobil Corp., Royal Dutch Shell Plc (RDSA) and other partners to raise the budget for the first phase of the Kashagan oil project by 20 percent to $46 billion, according to a person with knowledge of the matter.
The international oil companies, which include Eni SpA (ENI) and Total SA (FP), will bear the extra cost themselves, the person said, declining to be identified as the information isnt public. Kazakhstans state energy company, which also has a stake, will reimburse them with barrels of oil for its share once output starts, he said.
By Richard Orange, Almaty, Kazakhstan
5:40AM BST 01 Jul 2011
Kazakh oil minister Sauat Mynbayev has repeatedly threatened the consortium of oil companies with heavy financial penalties if it misses the 2013 final deadline.
The partners, including Shell, Total, ExxonMobil, Eni and Kazakh state oil company KMG, have repeatedly missed start dates beginning as far back as 2005.
A last-ditch plan to meet the 2013 deadline involved pumping at least 50,000 barrels per day of oil directly onshore, bypassing an unfinished processing plant on an artificial island.
U.S. oil group Chevron developing Kazakhstan's biggest oil deposit, said on Friday it had received a note from the authorities accusing it of neglecting Kazakh as a language of business communication.
A recent settlement decided that Total will provide the first managing director of the newly established North Caspian Operating Company. The decision ended more than a year of dispute between the project's international oil company partners - most notably ExxonMobil of the US, and Total, Royal Dutch Shell and Eni of Europe - and the Kazakh government.
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