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Shell undergoing massive sell off to fix its balance sheet

Mar 24th, 2014
by John Donovan.
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Screen Shot 2014-02-18 at 18.34.00Extracts from an article poublished Monday 24 March 2014 by MarketWatch under the headline: Ghana’s Jubilee Points to Best Offshore Acreage in the World

LONDON / ACCESSWIRE / March 24, 2014 / The oil industry hasn’t started off 2014 with a bang. The oil majors – ExxonMobil, Royal Dutch Shell, Chevron, BP – all posted disappointing fourth quarter numbers. Shell in particular is undergoing a massive sell off to fix its balance sheet. Why are these companies struggling, and why all the gloom in the oil sector? Higher costs are the major reason. The oil majors are not looking all that great in terms of an investment opportunity. read more

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Shell wants to invest more in China downstream gas

Jul 30th, 2012
by John Donovan.
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July 30, 2012, 6:39 a.m. EDT

By Wayne Ma

–Shell hopes to invest in China gas, both upstream and downstream

–Shell, Qatar, CNPC Taizhou refinery approval process is advancing

–Foreign companies may work with private China firms in second shale round

BEIJING–Royal Dutch Shell PLC RDS.B +0.82% hopes to boost investment not only upstream but also in the downstream gas sector in China, as it wants to profit from every link in the gas supply chain, the head of the company’s China unit said Monday. read more

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Shell, others to turn U.K. refinery into terminal

Jun 26th, 2012
by John Donovan.
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 June 26, 2012, 1:27 p.m. EDT

Shell, others to turn U.K. refinery into terminal

By Konstantin Rozhnov

Royal Dutch Shell PLC RDS.A +0.77% , Royal Vopak NV and Greenergy Ltd. have agreed to buy the majority of the assets of the Petroplus Holdings AG’s Coryton refinery in England to turn it into an import and distribution terminal to be managed by Vopak, the administrator of Petroplus’s U.K. subsidiaries, the companies and the U.K. government said Tuesday.

The sale will be completed within several months, once the current refinery closure process has been concluded, PricewaterhouseCoopers, the administrator, said in a statement. read more

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Shell’s revised Cove bid wins board approval

Apr 25th, 2012
by John Donovan.
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April 24, 2012, 10:32 p.m. EDT

By Alexis Flynn

— Shell’s recommended cash offer values Cove at GBP1.12 billion

— Cove is junior partner in a potentially huge natural gas field off Mozambique

— Rival bidder, Thailand’s PTT E&P, says it is considering its options

LONDON (MarketWatch) — Royal Dutch Shell PLC RDS.A +1.05% said Tuesday it had agreed a GBP1.12 billion all-cash deal to buy Cove Energy, a junior partner in a potentially huge natural-gas field off the Mozambique coast, leaving rival bidder PTT Exploration & Production PCL to consider its options. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Iran halts Greek oil sales, may cut Shell supply

Apr 7th, 2012
by John Donovan.
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Iran has stopped shipping oil to Greece and may halt supplies to Royal Dutch Shell PLC over unpaid bills…

April 6, 2012, 8:30 a.m. EDT

By Benoit Faucon

LONDON -(MarketWatch)- Iran has stopped shipping oil to Greece and may halt supplies to Royal Dutch Shell PLC over unpaid bills, Iran media said Friday, as the impact of sanctions widens.

The news suggests a decline in Iranian oil exports last month may accelerate as banking sanctions add to an upcoming European ban on Tehran oil. That could lead to upward pressure on oil prices, which have recently surged to a four-year high.

The Mehr news agency said that, due to unpaid bills, Iran stopped deliveries to Greek refiners Hellenic Petroleum and Motor Oil. Greece has long been the European Union country relying the most on Iranian oil–sometimes for as much as a third of its supplies. read more

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Shell still lifting Iran crude oil

Mar 14th, 2012
by John Donovan.
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March 14, 2012, 12:23 p.m. EDT

By Benoit Faucon

KUWAIT CITY -(MarketWatch)- Royal Dutch Shell PLC RDS.B -1.30% and Total SA TOT -2.68% are no longer lifting Iranian oil crude in Europe due to sanctions, the country’s oil minister said Wednesday.

Speaking to reporters on the side of an energy meeting here, Rostam Ghasemi said: “Shell and Total, they aren’t taking crude our crude in Europe because they are set to comply.”

Though Total has said it had stopped buying crude from Iran, Shell has said it continued lifting crude from the Islamic Republic until long-term contracts expire in a few weeks. read more

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Shell’s quarterly adjusted earnings up 18%

Feb 2nd, 2012
by John Donovan.
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Feb. 2, 2012, 2:39 a.m. EST

By Alexis Flynn

LONDON (MarketWatch) — Royal Dutch Shell PLC Thursday posted an 18% rise in adjusted profit for the fourth quarter, but Europe’s largest company by market capitalization still missed analyst expectations, as poor refining margins and lower natural gas demand crimped some of the benefits of higher crude prices.

“Our fourth quarter results were impacted by a sharp downturn in industry refining margins and North American natural gas prices,” said Chief Executive Peter Voser, adding that “the global economy and energy markets are likely to see continued high volatility.” read more

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Shell-PetroChina gas project hits record output

Jan 12th, 2012
by John Donovan.
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Jan. 11, 2012, 11:34 p.m. EST

By Wayne Ma

BEIJING -(MarketWatch)- The Changbei natural gas project owned by PetroChina Co. PTR +0.27% and Royal Dutch Shell PLC in northern China produced a record 3.5 billion cubic meters in 2011, the official Xinhua news agency reported late Wednesday.

The facility’s gas output was up slightly from 2010, when 3.48 billion cubic meters were produced.

The joint venture, located in Shaanxi province, has produced a total of 18.33 billion cubic meters since it began operations in 2005, Xinhua said, citing Tang Jiaqing, an official with the Changqing oil field, which operates the Changbei field. read more

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Conservationists Ask Christy Clark to Ban Coalbed Methane Drilling in BC’s Sacred Headwaters

Dec 5th, 2011
by John Donovan.
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Conservationists Ask Christy Clark to Ban Coalbed Methane Drilling in BC’s Sacred Headwaters, Once and For All

With moratorium set to expire in one year, the Sacred Headwaters offer a potential political win for BC’s Premier – or a potential PR nightmare for gas development.

VANCOUVER, BRITISH COLUMBIA, Dec 05, 2011 (MARKETWIRE via COMTEX) — There is one year remaining on the B.C. government’s moratorium on coalbed methane drilling in the Sacred Headwaters, and conservation groups ForestEthics and the Skeena Watershed Conservation Coalition are calling on Christy Clark to institute a permanent ban on drilling in the area.

The request comes as the groups are ramping up their campaign against Shell and the B.C. government, to protect the Sacred Headwaters. A lump of coal and giant greeting card were delivered this morning to Royal Dutch CEO, Peter Voser, at his office in the Hague, Netherlands, issuing a one year ultimatum for Shell to abandon its plans to drill in the headwaters, and reminding the company that 60,000 people have signed a petition opposing its plans. read more

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Dutch CEOs call for political action on euro

Dec 2nd, 2011
by John Donovan.
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By Archibald Preuschat

Dec. 2, 2011, 3:19 a.m. EST

AMSTERDAM (MarketWatch) — Chief executives of five Dutch companies, listed in the main benchmark AEX stock index, called in an open letter for political action to fight the debt crisis in the euro zone.

“It’s one minute to 12 and therefore most important that there will be active measures to fight the euro crisis as soon as possible,” the CEOs wrote in the open letter, which was published in Dutch paper Financieele Dagblad’s Friday edition. read more

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Shell’s second-quarter profit rises 55%

Jul 28th, 2011
by John Donovan.
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July 28, 2011, 3:06 a.m. EDT

By Alexis Flynn

LONDON -(MarketWatch)- Royal Dutch Shell PLC (RDSB.LN) Thursday posted a 56% rise in adjusted profit for the second quarter, buoyed by higher oil prices and the first contributions from its recently delivered flagship projects in Canada and Qatar.

“Our second quarter 2011 earnings were higher than year-ago levels, driven by increased energy prices and Shell’s operating performance,” said Chief Executive Peter Voser.

The Anglo-Dutch energy company said the clean current cost of supplies, a keenly-watched figure that strips out gains or losses from inventories and other non-operating items, was $6.55 billion in the three months ended June 30, compared with $4.20 billion in the second quarter of 2010. This was roughly in line with expectations of $6.54 billion in a Dow Jones Newswires poll of twelve analysts. read more

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Canary Wharf, Shell to revamp London site: report

Jul 24th, 2011
by John Donovan.
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July 24, 2011, 11:01 a.m. EDT

By London Bureau

LONDON (MarketWatch) — U.K. property developer Canary Wharf is poised to seal a landmark deal to transform the area round Royal Dutch Shell PLC’s (RDSA.LN) London office with financial backing from Qatar, The Sunday Times reports without citing sources.

Shell is expected to announce within a fortnight that it has picked Canary Wharf and Qatari Diar, the property arm of the emirate’s sovereign wealth fund, to transform more than five acres surrounding its tower on the south bank of the Thames. Canary Wharf and Qatar are believed to have offered up to GBP350 million for the deal, the report says. read more

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Shell plans $30 bln, 5 year Australia investment

Jul 8th, 2011
by John Donovan.
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July 8, 2011, 2:45 p.m. EDT

By London Bureau

LONDON (MarketWatch) — Anglo-Dutch oil giant Royal Dutch Shell PLC (RDSA.LN, RDSB.LN, RDSA, RDSB) plans to invest $30 billion in Australia over the next five years, Chief Executive Peter Voser said in an interview with Swiss newspaper Finanz und Wirtschaft to be published Saturday.

The country is a key part of Shell’s liquefied natural gas, or LNG, strategy. Shell aims to produce significantly higher volumes of LNG in coming years, including from the A$43 billion Gorgon project offshore Western Australia state, in which it has a 25% interest. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell aims to grow dividend but at ‘right time’

Jul 8th, 2011
by John Donovan.
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July 8, 2011, 2:42 p.m. EDT

By London Bureau

LONDON (MarketWatch) — Royal Dutch Shell PLC (RDSA, RDSA.LN) aims to grow its dividend as its cash flow increases, though this will be done in a measured way, said Chief Executive Peter Voser in an interview with Swiss newspaper Finanz und Wirtschaft to be published Saturday.

“We’re aiming at a rising dividend. However, we are active in a volatile business, and I don’t want a stop-and-go dividend policy,” said Voser, according to the paper. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Chevron sells Shell stake in Australia project

Apr 10th, 2011
by John Donovan.
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By John Letzing , MarketWatch

SAN FRANCISCO (MarketWatch) — Chevron Corp. said Sunday it has agreed to sell a stake in its proposed Wheatstone natural-gas project in Australia, a key means for the U.S. oil giant to address growing demand for energy resources in China and other parts of Asia, to Royal Dutch Shell PLC.

Under the terms of the deal, Shell will gain an 8% interest in Chevron’s  Wheatstone and Iago natural gas fields offshore of northwest Australia. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Essar Energy, Shell may sign U.K. refinery pact

Feb 18th, 2011
by John Donovan.
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Feb. 18, 2011, 2:08 a.m. EST

By Eric Yep

MUMBAI (MarketWatch) — India’s Essar Energy PLC (ESSR.LN) is likely to sign an initial agreement this week for a possible acquisition of Royal Dutch Shell PLC’s (RDSB.LN) Stanlow refinery in the U.K., a person with direct knowledge of the matter said Friday.

London-listed Essar Energy and Shell are in the final stages of discussions and will likely announce exclusive talks on the refinery sale this week, the person, who declined to be named, told Dow Jones Newswires. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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