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Shell writes off entire investment in troubled gas venture NAM

Thursday 26 April 2018

Shell has written off its entire $244m investment in gas production company NAM in a move seen as a further attempt to distance itself from the troubled company.

NAM is a 50-50 joint venture between Shell and ExxonMobil and faces huge damages claims because of the earthquakes in Groningen province which have been caused by the extraction of natural gas.

The one-off charge was booked in first-quarter earnings published on Thursday, according to the Financieele Dagblad. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

SHELL WRITES OFF NAM SHARES OVER GRONINGEN GAS EXTRACTION REDUCTION

By Janene Pieters on April 26, 2018 – 12:20

In its bookkeeping, Shell is reducing the value of its interest in NAM to zero in response to the Dutch government deciding to cin the coming years, RTL Nieuws reports.

Dutch petroleum company NAM is responsible for gas extraction in Groningen. NAM is owned half by Shell and half by ExxonMobil. Depreciating its shares in NAM is costing Shell 244 million dollars, according to RTL.  

The Dutch government concluded that safety in Groningen can only be guaranteed if the cause of the gas extraction earthquakes in the province is completely removed. The government therefore plans to reduce gas extraction in the province to 12 billion cubic meters by 2022 at the latest. From October 2022 gas extraction will be reduced to 7.5 billion cubic meters “and possibly considerably less”. And after that it will gradually be reduced to zero. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell writes off Groningen gas field on Dutch phase-out

Reuters Staff: APRIL 26, 2018 / 4:02 PM

LONDON (Reuters) – Royal Dutch Shell said on Thursday it would write down its reserves in the Groningen gas field, one of Europe’s largest, following the Dutch government’s decision to phase out production by 2030.

The Anglo-Dutch company holds a 50 percent stake in the field, which has seen production reduced in recent years following a series of damaging earthquakes. 

Shell said it expects to write off an estimated 0.5 to 0.65 billion barrels of oil equivalent in 2018. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell Gets Hit by the Taxman. Again.

Investors waiting for buybacks are going to need to be patient.

The oil price stages a dramatic recovery yet free cash flow at Europe’s biggest oil company goes nowhere. Royal Dutch Shell Plc retains a capacity to disappoint.

Shell has been dogged by doubts over whether it can afford to maintain its quarterly dividend. Late last year it sought to silence skeptics by moving to make the payout entirely in cash instead of partly in shares. Furthermore, it recommitted to a $25 billion share buyback program. It is clear that such an ambition exceeds current reality, judging by the business today. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

BRIEF-Shell CFO says on track for $25 bln share buybacks

REUTERS STAFF: APRIL 26, 2018

April 26 (Reuters) – Royal Dutch Shell Chief Financial Officer Jessica Uhl said in a conference call following first quarter 2018 results:

* SHELL CFO UHL SAYS “ON TRACK BUT NOT THERE YET” TO TRIGGER $25 BILLION BUYBACK PROGRAMME

* SHELL CFO UHL SAYS “QUESTION OF TIME, NOT INTENT” TO BEGIN BUYBACKS

* SHELL CFO UHL SAYS GAS TRADING “PARTICULARLY SOFT” IN FIRST QUARTER 2018 

* SHELL CFO UHL SAYS THERE IS STILL OPPORTUNITY TO FURTHER DRIVE DOWN OPERATING COSTS Further company coverage: ( read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell’s Profit Jump Isn’t Enough to Dispel Cash-Flow Worries

Photographer: Andrey Rudakov/Bloomberg

Royal Dutch Shell Plc rode the surge in oil prices to even greater heights, posting a profit not seen since the days of $100 a barrel, but investors continued to worry about the company’s cash flow.

Earnings at Europe’s largest energy company vaulted ahead of the upswing in crude to an average of $67 in the first quarter, reaping the benefits of years of cost cuts. Yet shares fell as analysts raised concerns about whether the company will be able to afford share buybacks. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell’s Earnings Have Gas, Could Be More Well-Oiled

Shell’s gas production was up nearly 10% on the year—from just a 2% rise the previous quarter. PHOTO: PATRICK HAMILTON/BLOOMBERG NEWS By Nathaniel Taplin: April 26, 2018 5:08 a.m. ET

Shell turned in a strong first-quarter 2018, thanks to higher oil prices and fat volume increases in natural gas. Gas production was up nearly 10% on the year—from just a 2% rise the previous quarter—and earnings jumped 67% to $5.9 billion, the highest for one quarter since 2013. That’s all great news for shareholders. The fly in the ointment, like the quarter before, is Shell’s declining output of liquid fuels—crude oil and natural gas-drilling byproducts such as ethane—which means that it can’t fully reap the benefits of rebounding oil prices… read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Higher oil and gas prices boost Royal Dutch Shell profits by 69%

The group was also helped by a strong performance from its liquefied natural gas businessSERGEI KARPUKHIN / REUTERS

Royal Dutch Shell has reported a 69 per cent rise in profits to $5.7 billion for the first quarter on the back of higher oil and gas prices.

The Anglo-Dutch oil group said it had also benefited from a particularly strong performance in its “integrated gas” business, which includes production and shipping of liquefied natural gas, and from improved profits from exploration and production.

Underlying profits, stripping out one-off items, rose 42 per cent to $5.3 billion, the highest quarterly profit since the third quarter of 2014 and marginally above analysts’ expectations. A slight decline in free cashflow compared with the same period a year ago appeared to unnerve investors, however, and Shell’s shares fell 2 per cent in early trading. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell profits soar on stronger oil prices

Ron Bousso: APRIL 26, 2018

LONDON, April 26 (Reuters) – Royal Dutch Shell on Thursday reported a 42 percent rise in profits in the first quarter of 2018, the highest in over three years, boosted by higher oil prices and beating analysts’ expectations.

Net income attributable to shareholders in the quarter, based on a current cost of supplies (CCS) and excluding identified items, rose to $5.322 billion from a year ago, compared with a company-provided analysts’ consensus of $5.277 billion.

A year ago, net income was $3.754 billion. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Argentina sale brings in $950m for Shell

Shell said that it was selling its downstream business in ­Argentina, which includes 645 petrol stationsMARCOS BRINDICCI/REUTERS

Emily Gosden: April 25. 2018

Royal Dutch Shell has agreed to offload its refining and marketing business in Argentina to its Brazilian joint venture for $950 million.

In the latest stage of a $30 billion divestment programme, the Anglo-Dutch energy group said that it was selling its downstream business in Argentina, which includes a refinery in Buenos Aires, 645 petrol stations and operations selling liquefied petroleum gas, marine and aviation fuels. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell Invests in the Vito Development in the Gulf of Mexico

Shell rendering of its Vito deep-water development in the U.S. Gulf of Mexico. Vito will feature a new, simplified host design and associated infrastructure.

HOUSTONApril 24, 2018 /PRNewswire/ — Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, today announces the final investment decision for Vito, a deep-water development in the U.S. Gulf of Mexico with a forward-looking, break-even price estimated to be less than $35 per barrel. This decision sets in motion the construction and fabrication of a new, simplified host design and subsea infrastructure. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell holds tight to shale basin in Argentina

The Dutch supermajor is selling off everything from its retail stations to a refinery in Argentina, but won’t give up its stake on the Vaca Muerta shale.

By Daniel J. Graeber: April 24, 2018

April 24 (UPI) — The Vaca Muerta shale formation in Argentina has substantial growth potential remaining, Shell said Tuesday after it unloaded its downstream business.

For close to $1 billion in cash, Royal Dutch Shell said it was selling off everything from its retail service stations to its refinery in Buenos Aires to Raízen, the third largest energy company in Brazil. After the close, Shell will still have a footprint in the downstream, or refinery side, of the energy sector in Argentina. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

BRIEF-Shell To Sell Its Downstream Business In Argentina To Raízen

Reuters Staff: APRIL 24, 2018

April 24 (Reuters) – Royal Dutch Shell PLC:

* SHELL – SHELL TO SELL ITS DOWNSTREAM BUSINESS IN ARGENTINA TO RAÍZEN

* SHELL – SALE INCLUDES BUENOS AIRES REFINERY, AROUND 645 RETAIL STATIONS, LPG, MARINE FUELS, AVIATION FUELS, BITUMEN, CHEMICALS AND LUBRICANTS BUSINESSES

FULL ARTICLE

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell, Inpex near finish line in race to export north Australian LNG

Henning Gloystein: APRIL 24, 2018

SINGAPORE (Reuters) – Shell and Inpex are on the final stretch of a years-long race to export gas from offshore northern Australia, where both have spent billions of dollars building the world’s biggest maritime vessels to grab a slice of Asia’s booming LNG market. Anglo-Dutch energy major Royal Dutch Shell and Inpex, Japan’s biggest oil and gas producer, are vying for first gas from two overlapping fields after delays and cost overruns that have plagued both projects. The pair have spent billions on offshore facilities, including Shell’s 490 meter (1,600 ft) long Prelude floating liquefied natural gas unit and Inpex’s Ichthys Explorer semi-submersible platform, both the world’s largest of their class. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell cannot dodge Class Action Over Pennsylvania Oil and Gas Lease Bonuses

By John Donovan

A Chief United States District Judge Joy Flowers Coni has ruled on the side of Pennsylvania landowners in a class action alleging a Royal Dutch Shell PLC U.S. subsidiaries SWEPI LP (formally known as Shell Western E&P) and Shell Energy Holding GP, LLC failed to pay contractual bonuses on oil and gas leases.

The class action is being prosecuted by Thomas J. Walney (“Walney”) and Rodney A. Bedow, Sr. (“Bedow”) on behalf of certain Pennsylvania landowners who executed gas and oil leases for the benefit of SWEPI LP. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Royal Dutch Shell Group .com Rotating Header Image Oil price rise sets up Shell for big profit

Shell reported underlying profits of $16 billion last yearDANIEL KALISZ/GETTY IMAGES

Emily Gosden, Energy Editor: April 23 2018

Royal Dutch Shell is expected to report its strongest quarterly results since 2014 this week.

Boosted by the rebound in oil prices, the Anglo-Dutch energy company is expected to announce underlying profits of $5.3 billion for the three months up to March, compared with $3.8 billion in the same period last year.

Such a result would be the first time that profits have topped $5 billion since the third quarter of 2014, when crude prices were just beginning to fall below $100 a barrel. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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