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Shell leaves One Shell Plaza HQ after 45 years

Shell leaves One Shell Plaza HQ after 45 years

By Sebastian HerreraDecember 7, 2016

In the coming months, roughly 3,400 Shell Oil Co. employees will be moving from the oil giant’s downtown headquarters into its Energy Corridor campus as Shell looks to eventually house all of its Houston-based employees on the west side.

The move is indicative of an energy industry downturn in Houston that has led oil companies to slash thousands of jobs and consolidate office space to meditate costs.

Shell will leave its One Shell Plaza headquarters, a 50-story skyscraper, after 45 years.

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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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Oil prices shed early gains amid doubts over OPEC output cut

By Jane Chung and Keith Wallis | SEOUL/SINGAPORE

Oil prices erased early gains to trade almost flat in Asian session on Thursday on mixed U.S. crude stocks data and doubts over OPEC’s implementation of an output cut, although a weaker dollar aided sentiment.

International Brent crude futures were trading up 2 cents at $53.02 a barrel at 0807 GMT. Prices fell to $52.81 a barrel earlier in the session.

U.S. benchmark West Texas Intermediate crude was up 3 cents at $49.80 a barrel after dropping to $49.61 earlier.

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OPEC, U.S. begin ‘cat and mouse’ oil game as producers pounce on hedges

By Amanda Cooper and Catherine Ngai | LONDON/NEW YORK

As far as one of the world’s biggest commodities traders, Glencore’s chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of “a cat and mouse game” between OPEC and its U.S. shale rivals in the coming year.

A 16 percent price rally over the past week has delivered U.S. frackers a golden opportunity to hedge – or sell forward – their production for 2017 and beyond, to shore up their coffers against possible future price falls.

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Shell Makes Cuts to Boost Returns

Allen Good7 December, 2016

With the BG acquisition in the books, Shell (RDSB) is embarking on the necessary steps to compete in a world of $60 a barrel oil.

Like the rest of the integrated group, Shell is working to reduce its cost base, which has become bloated during the past five years, by reducing headcount and improving its supply chain.

The integration of BG is integral to Shell’s efforts, as it holds the potential for $4.5 billion of cost-reduction synergies. Furthermore, the addition of BG’s low-cost production reduces Shell’s per-barrel operating cost, which ranked among the highest in its peer group. In total, Shell aims to reduce operating cost by 20% from 2014 levels by the end of 2016, with further reductions possible in later years.

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Shell Expected to Sign Iran Oil Deal Despite Uncertainty Over Trump

Update: Shell Signs Preliminary Iran Oil Deal Despite Uncertainty Over Trump

By BENOIT FAUCON and SARAH KENT: U

LONDON— Royal Dutch Shell PLC on Wednesday said it had signed a memorandum of understanding with Iran’s state oil company to explore future ventures, signaling that giant energy companies won’t be deterred by President-elect Donald Trump’s pledge to undo the Iran nuclear deal.

Shell is the largest company to wade back into Iran since the U.S. and other world powers lifted sanctions in January in exchange for Tehran’s agreement to strict limits on its nuclear program. The British-Dutch firm follows Total SA of France, which last month signed a $4.8 billion deal to develop a large gas field in Iran and is negotiating for an oil deal now.

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Shell, Total to sign oil deals with Iran

Dec. 7, 2016 5:48 AM ET| By: Yoel Minkoff, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) and Total (NYSE:TOT) will signinitial agreements today to develop oil and gas fields in Iran, in the first European petroleum deals in the country since sanctions eased earlier this year.

But the plans open both companies to potential risks from the incoming Trump administration.

Though Total is French and Shell is jointly headquartered in London and The Hague, both companies have substantial American operations.

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Shell and Total Said to Sign Initial Oil Deals With Iran

by Hashem Kalantari , Sam Wilkin , and Golnar Motevalli

December 7, 2016 — 2:12 AM EST: Updated December 7, 2016 — 9:39 AM EST

Royal Dutch Shell Plc signed an agreement to assess three of Iran’s largest oil and gas fields as OPEC’s third-biggest producer looks to boost output with the help of international companies.

Shell signed a memorandum of understanding to evaluate the Azadegan and Yadavaran oil fields near the Iraqi border, and the Kish gas deposit in the Persian Gulf, Gholam-Reza Manouchehri, deputy director of the National Iranian Oil Co., said at a signing ceremony in Tehran on Wednesday.

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Shell finance chief takes some chips off the table

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Royal Dutch Shell’s finance boss took advantage of the jump in the company’s share price immediately following OPEC’s decision to cut its output to sell some of his holdings in the oil producer.

According to a statement issued by the company, Simon Henry unloaded 50,000 B-shares at an individual price of 2163p, allowing him to pocket £1,081,500.

On 11 November, and in remarks to The Wall Street Journal, the firm´s executive vice president for deep-water, Wael Sawan, said Shell would invest $10bn more in the country, on top of the $30bn already deployed in South America´s largest economy.

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screen-shot-2016-12-05-at-16-34-00 By The Motley Fool  Dec 5, 2016

Today I’m looking at the critical reasons to sell out of Royal Dutch Shell (LSE: RDSB).

A drop in the ocean

The oil sector’s major players breathed a huge sigh of relief last week after OPEC — responsible for four-tenths of the world’s oil supply — confounded the expectations of many and agreed to cut its output.

Saudi Arabia brokered a deal that will see production fall by 1.2m barrels per day, to 32.5m barrels beginning in January. The news prompted Brent oil to top the $55 per barrel marker for the first time since the summer of 2016.

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Mitsui buys 20 percent stake in Shell’s offshore oil fields in Gulf

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05 December 2016

TOKYO (Reuters) – Japanese trading house Mitsui & Co <8031.T> said on Monday it has agreed to buy a 20 percent stake in four blocks in the U.S. offshore oil and gas fields in the Gulf of Mexico from Royal Dutch Shell Plc for an undisclosed amount.

The move follows Mitsui’s other investment decisions earlier this year including co-development of the Greater Enfield oil reserves off Western Australia and an $8 billion (6.29 billion pound) expansion of the Tangguh liquefied natural gas project in Indonesia which is led by BP , taking advantage of the recent drop in commodity prices.

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Shell’s Woodside stake sale on cards as oil prices rally

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BRIDGET CARTERMergers & Acquisitions Editor Sydney: December 5, 2016

Following Archer Daniels Midland’s sale of its GrainCorp stake on Friday, the next big block trade to watch out for is a $3 billion-odd sale by Shell out of Woodside Petroleum.

Shell has an interest of close to 14 per cent in the business, and the oil price rally last week that triggered a run on Woodside’s shares has many watching the situation.

In 2014, Shell sold a 19 per cent interest in Woodside for $41.35 per share through Citi and Goldman Sachs, and four years earlier, it offloaded a 10 per cent stake at $42.23 in a deal underwritten by UBS.

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Shell launches investigation after North Sea exploration well triggers alarm

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Written by Rita Brown – 04/12/2016 3:54 pm

Shell has launched an investigation after it was forced to shut down and evacuate personnel from its Shearwater platform in the North Sea.

The oil major was drilling, what was thought to an exploration well, when the activity triggered an alarm.

Shell decided to evacuate all non-essential personnel and shut down operations.

A spokeswoman said: “Shell UK can confirm that production on our Shearwater platform was shut down on the evening of Friday 2nd December as a precaution due to an alarm being triggered during work on a new well. There has been no loss of containment. The coastguard and regulator were informed and the situation is being closely monitored. A precautionary downman took place on Saturday returning 62 non-essential personnel safely to Aberdeen. The platform remains shutdown in the meantime.”

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Kashagan oil field allegations ignored by Shell exec Andy Brown?

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By John Donovan

Printed below are extracts from a communication received from a Shell Civil Engineer who, until recently, worked on the construction of the ill-fated Kashagan oil field.

He says his dire warnings in regard to construction issues were escalated to Shell top management, including Andy Brown, but were ignored.

He has also raised the subject of Shell depriving sacked workers tax breaks on redundancy pay. A policy he describes as theft.

The same source supplied related, apparently authentic, Shell emails.

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Ogoni king: Shell oil is killing my people

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screen-shot-2016-12-03-at-21-12-03John VidalSaturday 3 December 2016 19.45 GMT

The stakes are high…

If the London judge hearing the preliminary arguments finds for the king then, in around one year’s time, Shell will have to defend itself in the British courts. The result could be a massive clean-up of Ogale, possibly millions of dollars’ damages and other polluted communities bringing their cases to Britain.

FULL ARTICLE

Torres AES Awarded Multi-Year Supplier Contract for Shell’s Security Operations

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December 3, 2016Monika Donimirska

screen-shot-2016-12-03-at-18-33-37Torres Advanced Enterprise Solutions (Torres) was today awarded a multi-year select supplier contract with Shell International B.V. (Shell) to provide long-term, full-spectrum security services for their operations in South America. Specific countries of focus will be Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Peru and Venezuela. The contract, which was decided after an extensive selection process in which Shell vetted twenty-one multinational security companies, was awarded to Torres based upon its quality service record and competitive pricing. Torres successfully completed the technical evaluation process and commercial pricing rounds before being awarded the contract.

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Opec bends the markets

screen-shot-2016-12-03-at-08-16-41By Ed Crooks, December 2, 2016

In 451 CE, the great Roman general Flavius Aetius rallied a motley army of imperial troops and barbarian allies, and halted the advance of Attila’s Huns at the Catalaunian Plains in Gaul, buying the empire some time and temporarily interrupting its long-term decline. This week’s Opec meeting in Vienna had something of the same feel about it.

Opec’s power peaked in the 1970s, and the US shale oil revolution of the past half-decade has threatened to consign the cartel’s influence to history. But by agreeing a deal to cut production on Wednesday, the Opec ministers showed that if they all acted together they could still bend the oil markets to their will, at least for a while.

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Workers at Shell refinery threaten to shut half of plant

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Written by Mark Lammey – 02/12/2016 3:44 pm

Shell is embroiled in a pay dispute with workers at its Pernis oil refinery in the Netherlands.

A spokesman for the FNV union told Reuters that employees were ready to close half of the on December 7 because Shell only wants to give them a raise of 1%.

Workers are believed to be holding out for a 1.5% pay rise.

A Shell spokeswoman was cited as saying: “The unions indicated that they intend to continue activities [as early as next Wednesday]. Should this be the case, they will have a financial consequence. We are confident that we are going to reach a solution.”

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Shell report hints giant pipe on sea floor off Nova Scotia will be abandoned

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Riser crumpled to ocean floor eight months ago during drilling for exploratory oil well

By Brett Ruskin, CBC News Posted: Dec 02, 2016 12:08 PM AT

A new report commissioned by Shell Canada shows it would be safer and easier for the company to abandon a multi-million-dollar two-kilometre pipe at the bottom of the ocean, instead of retrieving it.

The huge pipe — called a “riser” — crumpled to the sea floor eight months ago off Nova Scotia’s coast.

The riser had been used by the Stena IceMAX, a specialized ship hired by Shell Canada, to drill an exploratory well to search for oil.

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We Must Harness the Power of Carbon Capture

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Ben Van Beurden

Van Beurden is the CEO of Royal Dutch Shell

“To make investments in clean energy technologies more attractive, governments must set an effective price on CO2 emissions”

Nobody can predict the future, but it is highly likely that global energy demand will grow for decades to come. There will be more people on this planet, more people will be living in cities, and more people will be seeking a better life. “A better life” in this context does not mean a tv in every room or a new smartphone every year. It does mean adequate housing, healthcare, sanitation, and modern transport.

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Shell ties in bonuses to reinforced emissions strategy

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By Ron Bousso and Karolin Schaps | LONDON

Royal Dutch Shell plans to link part of its executive bonuses to greenhouse gas emissions and conduct more active screening of future investments to further efforts to reduce the energy group’s carbon footprint, its CEO told Reuters.

The new initiative by the Anglo-Dutch group comes in response to mounting pressure from investors to adapt to an expected flattening in oil consumption within as little as five years and international plans to phase out fossil fuels by the end of the century to combat global warming.

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Shell is ‘ripe to deliver’ and 2017 is an inflection year – broker

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Jamie Ashcroft: 01 Dec 2016

Royal Dutch Shell Plc’s (LON:RDSB) portfolio is ‘ripe to deliver’, according to JP Morgan, which rates the stock as ‘overweight’ and sees 2017 as an inflection year for the oil supermajor.

JP Morgan analyst Christyan Malek says investors should buy ahead of further capex cuts and free cash flow uplift.

In a note Malek said: “the recent Brazil field trip left us incrementally positive on scope to cut capex further in 2017-18 as economies of scale on cost improve and internal efficiencies take effect.

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Shell studying acquisitions in the green energy sector

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screen-shot-2016-11-09-at-19-58-01Written by Reporter – 30/11/2016 2:02 pm

Shell said it is studying acquisitions in the green energy sector.

It comes amid shareholder pressure to look at a strategy beyond fossil fuels.

The oil major currently has a market value of $200billion and produces 2% of the world’s oil and gas.

Chief executive Ben Van Beurden said: “The idea you can just be a very clever observer and step in when the moment is right, forget about it.

“I am convinced that in this space we will play an active role, a leafing role and we will plan acquisitions in it.”

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Leaner and meaner: U.S. shale greater threat to OPEC after oil price war

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By Catherine Ngai and Ernest Scheyder

NEW YORK/HOUSTON In a corner of the prolific Bakken shale play in North Dakota, oil companies can now pump crude at a price almost as low as that enjoyed by OPEC giants Iran and Iraq.

Until a few years ago it was unprofitable to produce oil from shale in the United States. The steep slide in costs could encourage more U.S. shale output if OPEC members cut supplies, undermining the producer group’s ability to boost prices. OPEC ministers meet Wednesday to weigh output cuts to end a two-year glut that has pressured global oil prices.

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Shell studies green energy deals to prepare for future after oil

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By Karolin Schaps and Ron Bousso | LONDON

Royal Dutch Shell, the world’s second-biggest publicly listed oil company, is studying acquisitions in the green energy sector, its CEO told Reuters, as it bows to shareholder demands for a strategy beyond fossil fuels.

Shell, which has a market value of $200 billion, produces two percent of the world’s oil and gas but rapid technological change coupled with policies to protect the climate have kick-started a shift in energy markets that has put enormous pressure on oil companies to plan for a time after fossil fuels.

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Shell in talks over Gabon sale as seeks to hit divestment target

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By Ron Bousso | LONDON

Royal Dutch Shell is in advanced talks with a party interested in buying its onshore operations in Gabon as part of a $30 billion divestment plan following its purchase of BG Group, which was completed in February..

Shell had informed its staff of the discussions on Thursday, a spokesman for the firm told Reuters on Friday.

The oil and gas group, which plans to exit operations in 5 to 10 countries, has made relatively slow progress in its divestments as uncertainty over oil’s outlook has dampened buyer enthusiasm for deals at the prices it is targeting. So far this year, Shell has sold or agreed to sell around $6 billion of assets.

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Market keeps watching brief on Shell’s Woodside stake

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by Sarah Thompson Anthony Macdonald Joyce Moullakis

With December’s silly season now underway, brokers are left with precious few trading days to launch any significant placements and block trades.

But one stake remains at the top of every firm’s watchlist: Shell’s 13.3 per cent stake in Woodside Petroleum.

Firstly, there’s a motivated seller. The oil giant’s chief financial officer Simon Henry classified the $3.4 billion stake as “available for sale” when he informed investors in August of a change in how Shell classifies its stake in the Australian oil and gas producer.

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Shell Considering Dumping Its Iraqi Oil Fields

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By Julianne Geiger – Nov 28, 2016, 2:24 PM CST

Royal Dutch Shell is considering exiting its positions in Iraqi oil fields, according to industry sources cited by Reuters.

Shell, which declined to comment, is the world’s top liquefied natural gas producer, and is only exiting its oil field assets in Iraq, not its gas field assets. Iraq accounted for 4.4 percent of Shell’s total oil and gas production in 2015.

The fields in question are the Majnoon field, in which Shell holds a 45 percent interest, and the West Qurna field. Majnoon produces an average of 200,000 barrels per day, according to Shell’s website.

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Opec cuts neither dead nor alive

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By Ed Crooks November 28, 2016

Opec’s possible production cut is the oil market equivalent of Schrödinger’s cat: neither dead nor alive. When they met in Algiers in late September, Opec ministers agreed the need to reduce output, but left the allocation of the cuts between individual members to be finalised later. If they cannot agree on that, the deal will die. At their meeting in Vienna on Wednesday, the ministers will have to open the box, and we will find out whether or not the agreement is still breathing.

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Shell CEO expects no valuation hit from climate accord

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Royal Dutch Shell expects to pump out all the fossil fuel reserves listed on its balance sheet, its chief executive said, dismissing concerns that production limits in the wake of the Paris climate accord could hit the energy giant’s valuation.

In an interview with Dutch newspaper Het Financieele Dagblad, Ben van Beurden said the issue of “stranded” reserves – deposits in the ground that cannot be used because of carbon emissions limitations – would have no impact on balance sheets.

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Kazakh President Says Partners in Shell Oil Field Face Tax Claim

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Nariman Gizitdinov and Torrey Clark: November 24, 2016 — 6:42 AM EST

Kazakhstan’s authorities are looking at whether the Karachaganak oil and gas venture, which includes Royal Dutch Shell Plc and Eni SpA, has unpaid taxes.

“The tax authorities have tax issues — they didn’t pay,” President Nursultan Nazarbayev said in an interview on Tuesday in Astana, without elaborating. He also confirmed the government is now seeking to change how revenue from the field is shared with the companies, which is allowed by the terms of the contract.

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Pleased to assist Leigh Day in Suing Shell says John Donovan

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The High Court in London today began hearing the latest case against Royal Dutch Shell brought by the London law firm Leigh Day on behalf of Nigerian claimants.

Thousands of farmers and fishermen located in the Niger River Delta region who have suffered from oil spills and related toxic pollution. 

Leigh Day approached me last year making “an impassioned appeal” for my help, after first contacting me via Greenpeace.

This is not an unusual occurrence. Many parties contemplating or involved in litigation against Shell contact me after becoming aware of my Shell related website activities and a decades-long history of dealing with Shell, including its army of lawyers (over a thousand) and spooks (Shell Global Security and their external spy firm Hakluyt).

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Shell seeks to block Nigeria pollution claims in London court

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By AFPPUBLISHED: 18:20, 22 November 2016

Anglo-Dutch oil giant Shell on Tuesday urged a High Court judge in Britain to block pollution claims brought against it by more than 40,000 Nigerians, demanding the case be heard in Nigeria instead.

Lawyers for the claimants are demanding action from Shell to clean up oil spills that have devastated their Niger Delta communities for decades.

But Royal Dutch Shell lawyer Peter Goldsmith told High Court of England and Wales judge Peter Fraser that the cases concerned “fundamentally Nigerian issues”, and shouldn’t be heard in London.

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Polluted water in hand, Nigerian king takes Shell to court in London

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By Editor   |   22 November 2016  

King Emere Godwin Bebe Okpabi holds up a plastic bottle containing contaminated water from his community in Nigeria, proof of oil pollution that he blames on Royal Dutch Shell — and on which he hopes a London court will deliver justice.

“My people are drinking this water,” said the tribal king of the Ogale community in the oil-rich Niger Delta.

Okpabi has flown to London for a High Court hearing on Tuesday in which lawyers for more than 40,000 Nigerians are demanding action from Shell to clean up oil spills that have devastated their communities for decades.

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Villagers take Shell to High Court over Niger oil spills

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The cases are being brought by Leigh Day, which was previously successful in agreeing a £55 million compensation package with Shell to another Nigerian community: GEORGE ESIRI/REUTERS

Neil Johnston: November 21, 2016

A legal battle between Shell and two Nigerian communities who claim that the company caused repeated oil spills will reach the High Court this week.

Tomorrow a four-day hearing will begin to decide whether British courts can hear the legal claims on behalf of 40,000 Nigerians against the oil giant and a subsidiary which operated in the Niger Delta.

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Legal claim brought against Shell for alleged environmental damage in Nigeria could open floodgates

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screen-shot-2016-11-09-at-19-58-01By CITY & FINANCE REPORTER FOR THE DAILY MAILPUBLISHED: 21:51, 20 November 2016 

A legal claim brought against Royal Dutch Shell for alleged environmental damage in Nigeria could open the floodgates to more multinational firms being pursued in UK courts.

Two communities are seeking £100m in compensation from the oil giant and its Nigerian subsidiary after suffering repeated oil spills.

A four-day hearing this week will decide whether the case against Shell should be heard in London, where the company is incorporated, or Nigeria. Lawyers representing the communities claim the Nigerian legal system is too uncertain to deliver justice.

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Shell fights lawsuits over Nigeria environmental record

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screen-shot-2016-11-19-at-17-13-56SARAH KENT: November 21, 2016

Royal Dutch Shell is fighting lawsuits this week in London and The Netherlands over its environmental record in Nigeria, highlighting the quagmire of problems the energy company faces there as it tries to pivot away from the West African nation.

The oil-rich Niger Delta has generated billions of dollars for Shell over the past 60 years, but the company’s operations have been plagued by sabotage, theft and oil spills that ravaged the local environment.

Though Nigeria was one of its most prolific regions for crude production in 2015, Shell has sold off tracts of onshore oilfields. Its new focus — sealed with the mammoth $US50 billion acquisition of BG Group this year — is deepwater wells off the coasts of the US and Brazil and a historic shift toward natural gas that puts it at the forefront of oil companies offering a more climate-friendly image to investors.

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Minnow set to seal Shell deal

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Danny Fortson: November 20 2016, 12:01am

A small, private oil company is nearing a deal to buy nearly $2bn (£1.6bn) worth of Shell’s North Sea oil fields.

Chrysaor was one of several suitors to have lodged bids for the assets that the FTSE 100 giant put on the block after its blockbuster takeover of rival BG.

It is understood that the company, which is run by former Amerada Hess executive Phil Kirk and chaired by Francis Gugen, founder of beleaguered shale gas developer iGas, is closing in on a deal. Chrysaor is likely to buy most, but perhaps not all of the North Sea fields Shell is hoping to unload, according to industry sources.

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Shell case may launch wave of lawsuits

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By Emily Gosden, energy editor: 19 NOVEMBER 2016 

Royal Dutch Shell is facing a High Court battle over alleged environmental damage from its oil pipelines in Nigeria, in a test case that could open the floodgates to more multinationals being sued in London courts.

The oil giant and its subsidiary, the Shell Petroleum Development Company of Nigeria (SPDC), are both being sued by two Nigerian communities, who are seeking about £100m in compensation after suffering repeated oil spills they claim came from SPDC pipelines in the Niger Delta.

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Another Nigerian oil scam

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$15b Indian loan: Little meat in the bone

By Sonny Atumah

It  appears the proposed Nigeria US$15 billion facility from India may be a loansharking. The loan would be repaid with long term contract to supply crude oil to Indian Public Sector Undertakings, PSU (government owned corporations) that are mostly engaged in refining of petroleum products and in petrochemicals. The deal may also be in refining, executing City Gas Distribution, CGD, and Liquefied Petroleum Gas, LPG infrastructure projects by Indian PSUs.

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu with his Indian counterpart in charge of Petroleum and Natural Gas, Shri Dharmendra Pradhan are putting thoughts on paper in a memorandum of understanding, MOU to be firmed up at the PETROTECH 2016, the 12th biennial International Oil and Gas Conference and Exhibition at the Vigyan Bhavan in the Indian National Capital Territory, Delhi from December 5-7, 2016.

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Shell Fights Lawsuits Over Environmental Record in Nigeria

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By SARAH KENT: Nov. 19, 2016 7:00 a.m. ET

LONDON— Royal Dutch Shell PLC is fighting lawsuits this coming week in London and the Netherlands over its environmental record in Nigeria, highlighting the quagmire of problems the energy company faces there as it tries to pivot away from the West African nation.

The oil-rich Niger Delta has generated billions of dollars for Shell over the past 60 years, but the company’s operations have been plagued by sabotage, theft and oil spills that ravaged the local environment.

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Shell’s debts rise as it misses asset-sales target

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PUBLISHED NOV 19, 2016, 5:00 AM SGT

LONDON • Royal Dutch Shell is more than US$4 billion (S$5.71 billion) short of its asset-sales target for the year, prompting credit ratings agencies to warn that its record debt will not start shrinking soon enough.

Shell piled up borrowings following its biggest acquisition, the purchase of BG Group, and needs to hit disposal targets to help pay for it and stave off rating reviews, according to the agencies. The company sold US$1.7 billion of assets in the first nine months of this year, according to a Nov 1 statement, well short of its US$6 billion to US$8 billion guidance.

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Obama administration bans Arctic offshore oil drilling through 2022. But will Trump reverse it?

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By William Yardley: 18 Nov 2016

The Obama administration said Friday it was banning offshore oil drilling in the Arctic through 2022, a move that prompted widespread praise from conservation groups but raised questions over how long the decision will stand just two months before President-elect Donald Trump takes office.

A new five-year leasing program prohibits any drilling in the Beaufort and Chukchi seas — an environmental battleground in recent years —and also blocks expansion in the Atlantic and Pacific oceans, while allowing some new leasing in the Gulf of Mexico.

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Not dead yet

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By Ed Crooks: November 19, 2016

The last rites have been read over the Age of Oil a few times recently, but this week the International Energy Agency suggested there was still plenty of life left in it yet.

In its 2016 World Energy Outlook, the IEA argued that even if the Paris climate agreement were fully implemented, demand for oil would keep rising until at least 2040.

The message was reassuring for oil producers worried that “peak demand” might condemn them to stagnation or decline, or even put them out of business. There was colder comfort, however, in a warning from Wood Mackenzie that big oil companies risked being left behind in the transition to low-carbon energy.

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Nigeria reaches a deal to pay $5.1 billion in unpaid bills to oil majors – minister

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By Felix Onuah

Nov 17 Nigeria has reached a deal to pay $5.1 billion in unpaid bills to oil majors including Royal Dutch Shell and Exxon Mobil, the minister of state for oil said on Thursday.

The Nigerian National Petroleum Corporation (NNPC), the OPEC member’s state oil firm, has amassed a total of $6.8 billion in unpaid bills up to December 2015, so-called cash calls, that it was obliged to pay under joint ventures with Western oil firms, with which it explores for and produces oil.

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How Royal Dutch Shell plc Has Changed in the Past Three Years

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SHELL EMPLOYEE AT WORK. IMAGE SOURCE: ROYAL DUTCH SHELL.  

By Reuben Gregg Brewer (ReubenGBrewer: Nov 17, 2016

Royal Dutch Shell plc (NYSE:RDS-A) (NYSE:RDS-B) is one of a small collection of international energy giants. That group, which includes companies like ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX), as a whole, is thought of as oil companies. But over the past few years, Royal Dutch Shell has taken steps to tip the balance toward natural gas, a key difference investors need to know about.

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Shell’s North Sea oil trading draws spotlight again this year

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screen-shot-2016-11-09-at-20-26-36* Shell builds large position in BFOE forward cargoes

* Crude price differentials, Brent market structure weak

* Shell’s Forties sales to Asia in Jan had supported Brent

By Alex Lawler and Amanda Cooper

LONDON, Nov 17 Royal Dutch Shell has snapped up a large volume of North Sea oil that helps set the global Brent benchmark, trade sources said, the second time this year that its trading activities have attracted the glare of the spotlight.

Shell, the world’s second-largest oil company, runs some of Europe’s biggest refineries, including the 404,000-barrels-per-day Pernis facility, and is one of the biggest traders in the North Sea crude market, the home of the Brent benchmark.

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Does Shell have a secret growth business in the US?

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Philip Whiterow16 November 2016

Shell PLC (LON:RDSB) may be sitting on an undiscovered jewel with its onshore acreage in the US according to analysts at Deutsche Bank.

The German broker notes that prospects in the US Permian Basin are now changing hands for up to US$45 per acre, which puts a value of US$10bn on its 2bn barrel Delaware position.

That is three times Deutsche’s previous estimate, but rather than suggesting others in the industry were overpaying, as it had been, the broker concedes it may have missed a trick on the potential within Shell’s US tight oil assets.

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40,000 Nigerians take Shell to UK court over oil spills

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Online Editor: November 16, 2016

UK based oil firm, Shell, is facing fresh environmental claims in a London high court from two Nigerian communities who have suffered pollution episodes following repeated large scale oil spills from the oil giant’s pipelines in the Niger Delta.  

This is according to a statement released Tuesday by Leigh Day, a London based law firm, which was signed by David Standard, its head of media relations.

The two separate legal actions are being brought by law firm Leigh Day who represented the Bodo Community against Shell in an unprecedented environmental claim resulting in Shell agreeing to pay compensation package of £55million to the Community and 15,600 Nigerian fishermen whose livelihoods had been destroyed by Shell’s oil pollution.   

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Shell vs BP: which oil giant should you buy?

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By James Connington14 NOVEMBER 2016 

In the hunt for income‑producing stocks, BP and Royal Dutch Shell are two obvious candidates.

Both have so far kept dividend promises made before the oil price crash, leading to hefty yields: 7pc for BP and 6.7pc at Shell. But which firm is better placed to sustain such attractive dividends?

At first glance, it can look like splitting hairs. Each is prioritising dividend payments, although there is little chance of dividend growth.

Both have taken significant action to cut costs and sell assets in response to the lower oil price.

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