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Posts Tagged ‘Oil Prices’

MORE SHELL NEWS 6 APRIL 2017

Shell sues former head of security for threatening to reveal secrets: HOUSTON CHRONICLE

The issue of confidentiality comes up most often when employees who feel wronged were former high-level executives privy to corporate secrets that they promised not to reveal…

Crockett Oaks III, a former FBI agent who led the U.S. security operations of Shell Oil Co…  Shell Oil, the U.S. subsidiary of Royal Dutch Shell, last week obtained a temporary court order blocking Oaks from revealing potentially damaging information about Shell’s…

Shell switches New Zealand holdings ahead of possible divestment: REUTERS

Royal Dutch Shell (RDSa.L) sold its stake in a New Zealand gas field while taking over the field’s operating company as part of a plan to possibly divest its holdings in the country later on, the company said Thursday.

Shell starts offloading its New Zealand assets: MARKETWATCH

WELLINGTON, New Zealand–Royal Dutch Shell PLC (RDSA) has taken a step toward an exit from its New Zealand assets with a deal to sell its 50% stake in a natural-gas field to its local venture partner, Todd Energy.

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SHELL NEWS UPDATE TUESDAY 4 APRIL 2017

Shell Confirms More Than 200 Workers to be Cut from Norwegian Operations: RIGZONE

Royal Dutch Shell plc has confirmed that more than 200 workers will be cut from its Norwegian operations.

Petronas May Consider Shell Site for Canadian LNG Project: BLOOMBERG

Malaysia’s Petroliam Nasional Bhd may be looking at building a $27 billion liquefied natural gas export terminal in northwestern Canada on the site of an abandoned Royal Dutch Shell Plc energy project, according to the company’s chief executive officer.

Despite cuts to jobs, spending, oil giants fail to cover costs: AUSTRALIAN BUSINESS REVIEW

The world’s biggest oil companies are struggling just to break even. Despite billions of dollars in spending cuts and a modest oil price rebound, ExxonMobil, Royal Dutch Shell, Chevron and BP didn’t make enough money last year to cover costs, according to a Wall Street Journal analysis.

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Shell News Monday 3 April 2017

Shell withdraws from Kakinada gas project: Business Standard

European oil and gas company Royal Dutch Shell has decided to discontinue its earlier proposal for a floating liquefied natural gas (LNG) import terminal off the Kakinada coast in Andhra Pradesh. The company said ample research had showed lack of adequate demand for liquid gas. “We have put a pause on that project. We worked closely with our partners and engineers and took it to the point where our engineering work was done and we were ready to go. We looked around (but) there was not enough demand. We cannot just spend hundreds of millions and do nothing.

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SHELL AND BP LIQUIDATING THEMSELVES

SHELL NEWS UPDATE 30 MARCH 2017

Trump’s climate change executive order won’t change coal’s fortunes, Shell chair says: CNBC

EXTRACT: President Donald Trump‘s effort to roll back Obama-era climate change policies will not do much to improve demand for coal at America’s power plants, Royal Dutch Shell Chairman Chad Holliday said Thursday.

FT: Shell’s top oil trader defends North Sea Brent activity: Seeking Alpha

EXTRACT: Royal Dutch Shell’s (RDS.A, RDS.B) VP of crude oil trading is out with a strong defense against accusations that the company’s activity in the North S
ea crude market has skewed the benchmark Brent contract that underpins global oil prices.

Big Oil Vows to Keep Dividends Up as Prices Falter: Bloomberg.com

EXTRACT: “BP and Royal Dutch Shell have unsustainable dividends,” Neil Woodford, head of investment at Woodford Investment Management Ltd. who manages about $20 billion, wrote in a blog.

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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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