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Posts from ‘July, 2014’

Shell says its underperforming European refineries to get no mercy

Screen Shot 2014-02-10 at 16.29.29Extract from Reuters article published Thursday 31 July 2014

(Reuters) – Anglo Dutch oil company Royal Dutch Shell will show no mercy to underperforming oil refineries in Europe as it seeks to improve returns, its chief executive said on Thursday.

FULL ARTICLE

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

Sanctions: Bloomberg warns of ‘DefCon 5’ reprisal by Russia on Royal Dutch Shell

Screen Shot 2014-07-31 at 11.19.33

By John Donovan

This morning the oil giant Royal Dutch Shell Plc announced its second quarter results.

In subsequent news coverage, Bloomberg commentators said they were stunned by the lack of comment by Shell on the risk of reprisals by Russia to the recent announcement of EU sanctions targeting the Russian  oil and gas industry.

Ryan Chilcote of Bloomberg raised the prospect of what he described as a Def Con 5 reprisal by Putin seizing Shell assets – see screenshot.

Extract

July 31 (Bloomberg) — Bloomberg’s Ryan Chilcote reviews second-quarter results from Shell and looks at the potential negative impact of their exposure to Russia. He speaks on “The Pulse.” read more

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

Shell Profit Rises on Higher U.S. Oil and Gas Prices

Screen Shot 2014-02-10 at 16.29.29Extracts from a Bloomberg News article by Eduard Gismatullin published 31 July 2014

Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, said second-quarter earnings rose 33 percent on higher U.S. energy prices and increased production. Profit excluding one-time items and inventory changes gained to $6.1 billion from $4.6 billion a year earlier, The Hague-based Shell said today in a statement. Chief Executive Officer Ben van Beurden, who took over from Peter Voser at the start of the year, is accelerating asset sales and reviewing spending plans to win investor support. He needs a return to profit in the Americas’ operation, where the company is deploying about $80 billion. read more

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

Shell boosts FTSE 100 after earnings double

Screen Shot 2014-02-10 at 16.29.29Extracts from a MarketWatch article published 31 July 2014

LONDON (MarketWatch) — The U.K.’s benchmark’s stock index rose for the first time in two days on Thursday, getting a lift from shares of Royal Dutch Shell PLC after the oil giant’s earnings jumped in the second-quarter. The oil major said its second-quarter profit more than doubled as it benefited from higher liquid-petroleum prices and higher prices for specific products.

FULL ARTICLE

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

Woodside’s Buyback Deal With Shell at Risk of Being Blocked

Screen Shot 2014-02-10 at 16.29.29Extracts from a Bloomberg News article by James Paton dated 31 July 2014

Woodside Petroleum Ltd plan to buy back shares from Royal Dutch Shell Plc for $2.7 billion is at risk of being rejected by shareholders as it falls short of the votes needed to proceed. The buyback is part of Shell’s deal last month to raise $5 billion trimming most of its 23 percent stake in Australia’s second-largest oil producer. A no vote would leave Shell with a larger, unwanted stake, and add to Woodside’s frustrations after a plan to invest as much as $2.6 billion in an Israeli gas project collapsed, according to Macquarie Group Ltd. read more

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

Shell’s Pearl GTL: The Largest Gas-To-Liquids Plant In The World

Screen Shot 2014-02-10 at 16.29.29Extract from a Rigzone article published Wednesday 30 July 2014

In 2008, Shell announced it would partner with Qatar Petroleum and build Pearl GTL in order to produce cleaner-burning diesel and kerosene, base oils for top-tier lubricants, a chemical feedstock called naphtha (used to make plastics) and normal paraffin, which is used to produce detergents. Today, the plant in Ras Laffan Industrial City, 80km north of Doha, Qatar, is the largest gas-to-liquids plant in the world. 

FULL ARTICLE

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

Harry Brekelmans joins Royal Dutch Shell Plc Executive Committee

Screen Shot 2014-02-10 at 16.29.29Royal Dutch Shell plc today announced the appointment of Harry Brekelmans as Projects & Technology Director with effect from October 1, 2014.

In his new role, Harry will become a member of the Executive Committee and will take over from Matthias Bichsel who will be leaving the company after 34 years.

Harry is a Dutch national and currently Executive Vice President Operated, Upstream International. He joined Shell in 1990 and has held a variety of international management positions.

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

Royal Dutch Shell sees ‘robust’ profits rise

Screen Shot 2014-02-10 at 16.29.29BBC News article published 31 July 2014

Oil giant Royal Dutch Shell has described its performance as “robust” after its second-quarter profits more than doubled.

Shell said profits for the period rose to $5.15bn (£3bn) from $2.39bn a year earlier.

Stripping out the impact of one-off charges, underlying profits were still 33% higher at $6.13bn.

Chief executive Ben van Beurden hailed the company’s “recent improved performance”.

The results come in sharp contrast to Shell’s performance in the first three months of the year, when it reported a 44% drop in profits after writing down the value of refineries in Asia and Europe. read more

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

BP, Shell, Morgan Stanley seek end of oil price-fixing lawsuit

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Extracts from a Reuters article by Jonathan Stempel published Tuesday 29 July 2014

(Reuters) – BP Plc, Royal Dutch Shell Plc, Morgan Stanley and other companies urged a U.S. judge to dismiss nationwide litigation claiming they conspired for 12 years to fix prices of Brent crude oil, a benchmark for the cost of gasoline and heating oil.

In papers filed on Monday night in U.S. District Court in Manhattan, the defendants said there was no evidence they colluded to manipulate spot prices or intended to do so, in violation of U.S. commodity and antitrust laws.

They also said that because the alleged manipulation took place outside the United States and was governed by foreign law, U.S. courts had no authority to handle the case to begin with. read more

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

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

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Extracts from a highly informative MarineLink.com article by Patricia Keefe about the pioneering Shell FLNG Prelude project

Aptly named Prelude, at 488 meters long, 74 meters wide, and clocking in at 600,000 tonnes when fully ballasted, the FLNG facility, which is under construction at the Samsung Heavy Industries shipyard in South Korea, will be the largest object ever floated on the ocean. Bruce Steenson, Shell’s general manager of integrated gas programs and innovation, has been widely quoted as confirming that Shell is working on an even larger design. “That next one will be off the rails,” he told Reuters. Prelude will be sitting out in the middle of nowhere in cyclone alley central. Shell has no intentions of untethering the facility every time a bad wind blows and towing it to shore. Instead, a number of factors are supposed to ensure that Prelude sits tight in savage seas. read more

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

BP: Russian sanctions could hurt us

Screen Shot 2013-12-18 at 10.04.21Extract from a Guardian Business Blog article by Graeme Wearden published 29 July 2014

Oil giant BP has warned the City this morning that it could suffer if fresh sanctions are imposed on Russia.

In its latest results, BP cautioned that it would suffer an “”adverse impact” if Western powers hit Moscow with fresh economic restrictions — in response to the crisis in Ukraine.

FULL ARTICLE

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

Project Delays Will Cost These Oil Majors Billions

Screen Shot 2014-04-06 at 21.01.34Extracts from a Motley Fool article by Rupert Hargreaves published 28 July 2014

In total, Kashagan is now expect to cost a total of $136 billion, more than 140% above initial estimates. Production has been consistently delayed; the most recent delay, which occurred at the end of last year, concerns the project’s pipelines. At present, the project is being overseen by Italy’s Eni, although ExxonMobil is shortly set to take over. Shell, Eni, and Total all have a 16.8% stake in the project, and Morgan Stanley’s analysts believe that as a result of the delays, these three companies will have their 2016 net income estimates reduced by $500 million each. That is a large figure, even for these oil giants. read more

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

Oil prospectors shifting focus back to wealthy, more predictable countries

Screen Shot 2014-03-10 at 23.56.16Extracts from a Seeking Alpha article published 28 July 2014

Companies including Shell, Chevron and Exxon are diverting more and more funds to the world’s richest economies, as they grow tired of the risks of working in violent and corrupt places for the reward of finding oil and gas reserves that can be profitably exploited… The companies are pulling out of more conflict-torn and difficult regions: Shell since 2010 has sold $1.8B of its Nigerian assets and last year began talks to sell four oil production blocks and a pipeline there.

FULL ARTICLE read more

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

ROYAL DUTCH SHELL PLC AND RUSSIA: BUSINESS AS USUAL

By John Donovan

Shell CEO Ben van Beurden was straightforward in what he publicly stated at the 2014 AGM of Royal Dutch Shell Plc. He said that Shell puts the interests of its shareholders first, above any geopolitical considerations. That is his excuse for Shell’s dealings with evil regimes in Iran and Russia, irrespective of sanctions. You can tell all you need to know about Ben’s priorities from his failure to sign the document “SHELL BUSINESS PRINCIPLES” – it is still signed by his predecessor Peter Voser, who abandoned ship long ago.  read more

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

Oil majors BP and Shell may be ready for more mergers

Some of Shell’s big shareholders are said to be frustrated by the company’s continued spending on expensive far-flung projects that fail to yield healthy returns. Alongside its profit warning at the start of this year, Shell announced that it was halting a controversial exploration programme off the coast of Alaska because the costs had far outweighed the results. Some $4.5bn had been ploughed into exploring in the region since 2005. Rumours continue to swirl that an activist investor is circling Shell with a view to taking a stake and forcing it adopt a more radical strategy. read more

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

Shell vs. Bodo Community: British Court To Hear Evidence In Nigeria

Screen Shot 2014-02-10 at 16.29.29Extracts from an article by Tunde Oyedoyin published by The Guardian Nigeria on Friday 25 July 2014

A BRITISH court will temporarily sit in Nigeria next year in a bid to determine how much compensation Shell Nigeria should pay to the fishermen of the Bodo community, who were affected by the two massive oil spills that occurred in their area in 2008 and 2009.

Although the decision to hear evidence from the fishermen was taken during a previous sitting on June 20, when the case was heard again Friday in Courtroom 20 of the Technology and Construction Court (TCC), Chancery Lane, Mr. Justice Akenhead confirmed that he will be sitting in Port Harcourt for two weeks, beginning May 5, 2015. read more

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