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Posts Tagged ‘Oil Prices’

Shell News Tuesday 28 March 2017

Summary

  • The myth of a secure price range for OPEC in its battle against shale.
  • Why OPEC has painted itself into a corner, forcing it to extend lower output.
  • What’s far more important than OPEC and others’ cuts.
  • Cuts or not – low-cost shale producers like Shell will produce at a profit.

FULL ARTICLE

Shell News Stories Monday 27 March 2017

‘Biggest Oil Discovery In UK Waters This Century’: ClimateChangeDispatch

Hurricane Energy has made a further oil discovery west of the Shetland Islands days after Royal Dutch Shell and BP won exploration licences in an area the UK is counting on to breathe new life into its struggling oil and gas industry.

Shell and Anadarko mull clean break from Permian venture -executive: Reuters

LONDON/HOUSTON, March 27 (Reuters) – Royal Dutch Shell Plc and Anadarko Petroleum Corp may let a 10-year joint venture in the oil-rich Permian Basin of Texas expire and split their properties, hoping to speed up development, according to a senior Shell executive.

Why Are Shell And Toyota Backing Hydrogen Fuel Cell Vehicles?: OilPrice.com

Royal Dutch Shell sees that facing a lower-carbon transport future will need a “mosaic of fuels and engines,” but the energy conglomerate is leaning toward hydrogen as the alternative fuel of choice.

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Shell’s Nigerian Quagmire

Bearing in mind the avalanche of recent news stories about Shell’s Nigerian problems, it is interesting to reflect on the content of a 93-page report by WAC Global Services commissioned by Shell over a decade ago. I can only assume that no one at Shell bothered to pay attention to the warnings in the report arising from its evil activities feeding corruption, violence and pollution.

Some extracts

(Please note SCIN = SHELL COMPANIES IN NIGERIA)

From page 8

It is easy to conclude that any type of company or trade bringing resources to the Niger Delta will be confronted with the same problem. While this view is valid, it is also true that the manner in which the SCIN operates and it staff behaves creates, feeds into, or exacerbates conflict. After over 50 years in Nigeria, it is therefore reasonable to say that SCIN has become an integral part of the Niger Delta conflict system.

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Current Shell News Stories 23 March 2017

Trials and Tribulations of Royal Dutch Shell Plc

Links below to a selection of current news stories posted on
our sister website royaldutchshellgroup.com. They include, among other developments, news that Shell has lost another court case, this time at a cost of $254m.

There is also coverage of further litigation relating to Shell’s nefarious activities in Nigeria, with the latest events in the OPL 245 saga. 

And The Motley Fool poses a very important question: Can BP and Shell survive the coming oil price crash? 

Shell loses $254m court case: EnergyVoice.com 16 Feb 2017

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Royal Dutch Shell CEO: Dividends No Longer No.1 Priority

One of our regular contributors has picked up on a priority switch by Shell senior management which may frighten shareholders in Royal Dutch Shell Plc.

During an interview with Michelle Fox of CNBC earlier today, Ben van Beurden the Chief Executive Officer of the company said: In terms of debt paydown and covering of dividends two important priorities – Debt No 1, Dividend No 2. 

Michelle Fox asks… When you say Dividend is number two does this mean you could change the level going forward?  Mr Van Beurden made reassuring noises about the dividend but noticeably did not backtrack on his relegation of dividend payment levels to being a secondary priority

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A deserved shitstorm of Shell Nigerian litigation

A boatload of heavily armed Shell employees? Photograph: Veronique de Viguerie/Getty Images

Shell is facing what Americans might describe as a shitstorm of lawsuits arising from its Nigerian activities since the 1950’s. Litigation is current or pending in Nigeria, the USA, Italy, the UK and the Netherlands.

According to Wikipedia, shitstorm is a vulgar dysphemism for a chaotic and unpleasant situation. It does seem appropriate in a reputational nightmare of Shell’s own making. Related human rights allegations against Shell and the evil Nigerian regimes it has supported include torture, murder, toxic pollution, spying and corruption on a grand scale.

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Royal Dutch Shell PLC saddled with a mountain of debt


By John Donovan

The Wall Street Journal does not mince its words.

In an article published today, it says that Shell has saddled itself with a mountain of debt as a result of its takeover of the BG Group.

Article author Sarah Kent points out Shell’s  debt-to-equity ratio is far higher than its major rivals.

The same concern is expressed in a related Wall Street Journal article: Shell’s New Year Promise: Slimming Down

Although Shell promised to offload $30 billion of assets, it has thus far sold only $5 billion worth.

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Shell’s complicity in human rights abuses in the Niger Delta


By John Donovan

As we approach the start of 2017, Shell’s conduct in Nigeria is coming under intense scrutiny by prosecution authorities and is also the subject of civil litigation, both current and pending.

The charges include corruption, environmental contamination, and gross human rights abuses, including cruel, inhuman, and degrading treatment. 

Shell senior management cannot say that it was not warned. The following is an extract from a letter sent in February 2012 to Shell executives in London, Nigeria and Den Haag.

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After Alaska flop, Shell’s search for oil moves closer to home

By Ron Bousso | LONDON

In the waters off Malaysia, Royal Dutch Shell (RDSa.L) is finding gas quickly and cheaply to replenish depleting fields where only a few years ago geologists had lost hope of discovering any new reserves.

The Anglo-Dutch group is combining the latest technology with the wisdom of industry veterans to unlock new oil and gas deposits where it already operates, usually within 20 km (12 miles) of existing platforms.

The result has been a string of finds which, while modest in size, can generate cash rapidly to suit an era of drastically reduced exploration budgets across the energy industry.

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Oil stocks surge, BP and Shell both climb on back of OPEC pact

Written by Reporter – 12/12/2016 1:20 pm

Oil stocks topped the FTSE 100 on Monday after non-Opec producers agreed to curb production to help buoy floundering crude prices.

The UK’s blue chip index was down 0.1% at around 6946.53 points, but Royal Dutch Shell’s ’B’ shares rose 3% and BP jumped 2.4%.

Away from the top tier, Tullow Oil soared 9.6% and Premier Oil surged 9.9%.

Sterling was flat against the dollar at 1.256, but down 0.3% against the euro at 1.187.

Brent crude prices climbed more than 5% to around 57.03 US dollars per barrel (£45.33) in early trading, marking its highest level since July 2015.

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The Nigerian King and a very brazen bid to squeeze millions out of Shell over pollution

By Rachel Millard For The Daily Mail7 December 2016 

Residents of the communities in south-east Nigeria remember clearly the day oil giant Shell first arrived in the 1950s.

Children could hear the rumble of the trucks from a distance, so they’d wave at the drivers as they passed.

It still happened when King Emere Godwin Bebe Okpabi, community leader of the Ogale community in Ogoniland, was growing up in the 1960s.

The region, largely marshland and swamps, was poor but the British firm, with its modern technology and skilled engineers, seemed to represent a new era of prosperity. 

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