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Posts from ‘June, 2016’

Saudi-Iran tensions threaten $5.4bn Japanese refinery merger

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  • MAYUMI NEGISHI
  • The Wall Street Journal
  • 12:00AM July 1, 2016

The battle for hegemony in the Middle East between Saudi Arabia and Iran threatens to up-end a $US4 billion ($5.4bn) merger in Japan.

The family of the late founder of Idemitsu Kosan is opposing a planned merger between the oil refiner — Japan’s second-largest behind JX — and Showa Shell Sekiyu, its smaller rival. Idemitsu has maintained close ties with Iran since the 1950s while Showa Shell is 15 per cent owned by Saudi Arabia’s state-owned Saudi Arabian Oil Co, known as Aramco.

The Idemitsu family said a merger would be “inappropriate” given the growing tensions between the two countries. The two Persian Gulf nations, which belong to rival sects of Islam, are jockeying for political influence in the region and have recently clashed over the question of a cap on crude output. read more

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

Shell CEO Urges European Governments to Keep Economy Steady After Brexit

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Ben Van Beurden, chief executive officer of Royal Dutch Shell PLC, is seen here in Perth, Australia in April 2016. Mr. Van Beurden urged Europe’s governments to keep the economy steady despite the turbulence created by the U.K.’s referendum. PHOTO: AARON BUNCH/BLOOMBERG NEWS

By SARAH KENT: June 30, 2016 5:49 a.m. ET

Speaking at a conference in London, Ben Van Beurden emphasized the benefits of a single market and free movement of people. “I hope that the future relationship between the U.K. and the rest of Europe will continue to provide conditions for economic growth,” he said. read more

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

BRIEF-Shell CEO says UK investment programme remains at $4 bln by 2018

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Screen Shot 2016-05-21 at 10.18.28June 30 (Reuters) –

* Shell CEO says will continue to invest in the UK despite Brexit vote

* Shell CEO says $4 billion investment programme in UK by 2018 will not change

(Reporting by Ron Bousso)

SOURCE

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

Shell boss keen to help UK with climate change, “when it makes business sense”

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Written by Mark Lammey – 30/06/2016 5:59 am

The boss of Royal Dutch Shell (LON: RDSB) wants the oil and gas giant to play a big part in the UK’s quest to meet climate change targets, “when it makes business sense”.

Shell chief executive Ben van Beurden also expects the UK’s energy demand to level off as the country becomes more fuel efficient.

“Social, political and geographical conditions differ from country to country,” Mr van Beurden will say today at the company’s Powering Progress Together Forum. “In other words, the energy transition is likely to play out in a different way and at a different pace in different places. read more

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

Royal Dutch Shell says UK energy demand set to fall in future

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Jessica Morris is City A.M.’s industrials reporter. Thursday 30 June 2016 12:06am

The boss of oil major Royal Dutch Shell is set to say that energy demand in the UK will fall, while urging the government to help meet the world’s climate change goals.

Ben van Beurden, chief executive of Shell, will tell an audience at a forum in London later today: “In the UK … demand for energy is likely to level off as a result of, for example, energy efficiency.

“But this does not mean the UK can sit back and relax. It has a legally binding commitment to reduce its carbon emissions by 80 per cent by 2050, from the 1990 level.” read more

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

Royal Dutch Shell’s Recovery Will Strengthen The Rally

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Jun. 29, 2016 4:22 PM ET|

Summary

Royal Dutch Shell’s upstream business has struggled on account of lower oil price realizations, but this is about to change going forward.

With Brent now hovering around $50, the average price of oil has improved in the second quarter and this will help Shell improve its realizations in the upstream.

Shell’s upstream performance could improve further as higher inventory drawdown on the back of weakening production and stronger demand will lead to higher prices. read more

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

Indonesia’s Pertamina picks Shell to process Iraqi crude -official

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By Wilda Asmarini: Markets | Wed Jun 29, 2016 

Indonesia’s Pertamina has selected Shell to process a million barrels per month of Iraqi crude at a Singapore refinery, a senior official at the state-owned company said on Wednesday.

The quest for oil-processing capacity abroad is partly spurred by a lack of investor interest in building domestic refineries because of unfavourable investment conditions set by the government.

“We’ve selected Shell because they are the most competitive,” said Daniel Purba, senior vice president of Pertamina’s Integrated Supply Chain unit. read more

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

EI appoints Malcolm Brinded as president elect

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Written by  OE Staff Date created Wednesday, 29 June 2016 

The Energy Institute (EI) has appointed former executive director for Shell Upstream International, and current chairman for the Shell Foundation Malcolm Brinded CBE FREng FEI as president-elect, in addition to the announcement of several other EI appointments.

Brinded, who joined the EI’s Council in 2013, will succeed Professor Jim Skea CBE FEI as EI President in 2017 for a two-year term. He was main board executive director of Royal Dutch Shell for a decade until retirement in April 2012. His last role in a 38-year career at Shell was as executive director for Upstream International. He was previously executive director for global exploration and production from 2004 to 2009, managing director of Royal Dutch Shell from 2002, and Shell UK chairman from 1999. He is currently chairman of the Shell Foundation, a non-executive director of Network Rail, CH2M HILL and BHP Billiton. read more

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

Shell exec expands on plan to build cracker plant in Beaver County

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Screen Shot 2016-05-21 at 10.18.28BY DAVID CONTI | Tuesday, June 28, 2016, 6:36 p.m.

Royal Dutch Shell’s decision to build a multibillion-dollar petrochemical plant in Beaver County came down to three key considerations: location, location and tax incentives.

Pennsylvania lies above the ethane the facility will consume, is close to most customers of the polyethylene it will produce, and offered the global energy giant a package of credits worth as much as $1.6 billion over 25 years.

“I can tell you, hand to my heart, that without these fiscal incentives, we would not have taken this investment decision,” Shell Appalachia Vice President Ate Visser told industry officials who gathered Downtown on Tuesday for the Northeast U.S. & Canada Petro­chemical Construction Conference. read more

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

Idemitsu, Showa Shell Fall as Merger at Risk Amid Opposition

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By Tsuyoshi Inajima: Emi Urabe and Stephen Stapczynski: June 29. 2016

  • Idemitsu founding family opposes merger with Showa Shell

  • Family owns 33.9% stake in Japan refiner Idemitsu: statement

Japanese refiners Idemitsu Kosan Co. and Showa Shell Sekiyu KK fell one day after descendants of Idemitsu’s founder said they oppose a merger between the two companies because of Showa Shell’s ties with Saudi Arabia.

Idemitsu in Tokyo fell as much as 10.4 percent to 2,063 yen as of 11:59 a.m. local time, the biggest intraday drop since March 2011. Showa Shell fell as much as 6.6 percent, extending a 10 percent decline on Tuesday after the family announced its opposition.

Idemitsu has maintained a close relationship with Iran and descendants of the company’s founder oppose a deal in part because of heightened tensions between Iran and Saudi Arabia, according to a statement from the Daiichi-Chuo Law Office, which is representing the family. The descendants own 33.9 percent of Idemitsu, which means they may be able to use veto power on the merger at a special shareholder meeting. read more

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

Royal Dutch Shell plc and Gemfields plc: the perfect resources partnership?

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By Peter Stephens – Wednesday, 29 June, 2016

With the price of oil having made a storming comeback since earlier this year, Shell (LSE: RDSB) now has a much brighter future than it did just a few months ago. Clearly, there are still challenges ahead for the oil major, with there being a very real possibility that the price of oil could come under further pressure. That’s especially the case if Brexit acts as a negative catalyst on global economic growth and demand for oil falls yet further.

However, even in such a situation, Shell remains an appealing play due to its size and scale. In fact, Shell would be likely to benefit from such a situation, since it could likely outlast most of its sector peers and emerge in a stronger position with greater market share when oil eventually recovers. read more

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

Japan’s Idemitsu denies report to dilute founding family stake

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Japan’s Idemitsu denies report to dilute founding family stake

TOKYO | BY OSAMU TSUKIMORI AND TAIGA URANAKA: Wed Jun 29, 2016

Japanese oil refiner Idemitsu Kosan Co denied it plans to issue new shares to dilute its founding family’s one-third ownership, after the family issued a threat to derail a $4 billion takeover of rival Showa Shell.

Idemitsu was responding to a Kyodo News report earlier on Wednesday that said the company planned to issues new shares to an unidentified third party. Kyodo did not cite a source for its information nor the size of the potential allotment. read more

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

Shell, BP defy market-sell off on dollar income, dividends

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Business | Mon Jun 27, 2016 7:26pm IST

** Royal Dutch Shell and BP defy a broad market sell-off after Britain’s vote to leave the EU

** Investors cite oil majors’ dollar dividends and income as key attraction points

** A weaker pound makes Shell and BP a cheaper alternative to U.S. peers Exxon Mobil and Chevron

** With dollar-based dividends, which both companies chose due to the underlying oil price, the depreciation of the pound offered automatic gains

** “The oil sector has been the perfect hedge against Brexit,” says Richard Hulf, co-manager of the Artemis Global Energy Fund, which holds shares in Shell and BP read more

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

Will Buhari’s Visit to Niger Delta Solve Shell and Chevron Problems?

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By Staff Writer on Jun 27, 2016

Screen Shot 2016-05-21 at 10.18.28Problems of international oil and gas companies, including Shell and Chevron Corporation (NYSE:CVX), in Nigeria might end in the near future as the militant group, Niger Delta Avengers, has asked the Nigerian President Muhammadu Buhari to visit the southern region of the Niger Delta. The group has asked the President to hold a referendum in the country and to assess how the multinationals and the government are adversely impacting the locals. The talks between the two parties are expected to bring an end to the political turmoil in the country, which has been haunting Africa’s biggest economy for the past few months. read more

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

Why Royal Dutch Shell plc’s share price could collapse 60%!

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…with the fossil fuel giant battling a gigantic $70bn debt pile as well as a sickly revenues outlook, I believe asset sales alone may not be enough to keep the balance sheet afloat, and that dividend cuts could still be on the cards.

By Royston Wild – Monday, 27 June, 2016

Despite the volatility smashing financial markets on Friday — Britain’s decision to exit the European Union caused the FTSE 100 to shunt 3.2% lower — oil sector shares proved to be extraordinarily robust.

Indeed, fossil fuel giant Shell (LSE: RDSB) saw its share price slip just 0.3% on the day. This is despite wide risk-aversion pushing Brent back below $50 per barrel, the crude benchmark shedding 5% of its value to rest at $48.50.

Steady… for the moment read more

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

Shell drops legal attempt to extend offshore lease terms in the Arctic

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Author: Yereth Rosen: 24 June 2016

Months after abandoning its plans for oil exploration in Arctic waters off Alaska, Royal Dutch Shell has dropped its legal effort to hold onto those offshore leases.

Shell notified the Interior Department it will no longer pursue its appeals of a decision that denied extension of the company’s oil leases in the Chukchi and Beaufort seas off Alaska. The department’s Board of Land Appeals on Thursday granted Shell’s request and dismissed the case. read more

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