News and information on Shell Plc
By Lincoln Brown – Jun 24, 2016
Police in the area of Imo in Nigeria have confirmed that there has been an attack on a Shell Petroleum Development Company (SPDC) facility there. The attack, which was in the Ohaji/Egbema Local Government area took place early Thursday.
One source told the News Agency of Nigeria that the attack came at 5:30 in the morning and reported an explosion that created a great deal of flame. That source could not confirm if anyone was killed in the incident.
IMAGE SOURCE: GETTY IMAGES.
By Matthew Dilallo: 24 June 2016
What: Crude prices tumbled on Friday after Britain’s stunning decision to leave the European Union. By mid-afternoon, oil was down 4.5% and back below $50 a barrel. The sell-off washed over into oil stocks, with British giants BP (NYSE:BP) and Royal Dutch Shell (NYSE:RDS-A)(NYSE:RDS-B) both following crude downward by more than 5% as of 12:30 p.m. EDT.
Those moves, however, were tame compared to the sell-offs of other European oil stocks, with Statoil (NYSE:STO) and Total (NYSE:TOT) down nearly 6% and 9%, respectively. Even large independent U.S. oil companies were taking it on the chin, with ConocoPhillips (NYSE:COP) just one among the many oil stocks sliding in parallel with the price of crude.
Reuters: Friday, June 24, 2016
THE HAGUE, June 24 The Dutch government said on Friday it would lower the cap on production at the Groningen gas field, which has supplied up to 10 percent of European demand, to 24 billion cubic metres a year for the next five years.
The decision to lower the ceiling from 27 bcm, beginning on Oct. 1, follows a recommendation by the Dutch National Mines Inspectorate.
The Dutch government has been steadily reducing output at Groningen, prompted by a spate of earthquakes linked to production that caused extensive property damage in the northern province.
By James Burgess – Jun 15, 2016
Goldman Sachs has rejected analysts’ opinions that the global oil market is recovering, noting that while it expects a “modest” deficit in the coming months based on the slight rebound in oil prices, the market will again be in a state of surplus by early next year.
It may seem as if oil is recovering on the back of supply disruptions that have helped to chip away at the global glut and push prices close to $50, but Goldman says that in the best-case scenario this isn’t a rebound—it’s just the first signs of one.
By Ed Crooks: June 24, 2016
In the market maelstrom that followed the UK’s referendum vote to leave the EU, the oil price took some collateral damage, with Brent crude dropping below $48 for the first time in a week. As the country sat up to watch the results come in, National Grid had to cope with the largest ever spike in night-time electricity demand.
The longer-term implications of Brexit for energy in the UK and Europe, like most other consequences of the decision, are highly uncertain. Politico and others sketched out some of the main issues, with news outlets taking a range of differing perspectives. Norton Rose Fulbright published an excellent primer, focusing on some of the key legal questions. BusinessGreen rounded up reaction from environmental campaigners and renewable energy businesses. Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change, suggested before the result was known that a vote for Brexit would mean the Paris agreement on tackling global warming would “require recalibration”.
Business | Fri Jun 24, 2016 3:07am EDT
Royal Dutch Shell (RDSa.L) said it will work with the British government and European institutions on any implications for its business from Britain’s decision to leave the European Union, a spokesman said on Friday.
Shell, which was in favor of Britain remaining part of the EU, said its priority was to continue supplying energy to customers in Europe and the United Kingdom.
“We will work with the UK government and European institutions on any implications for us,” a spokesman said.
June 23, 2016
Summary
For the small sliver of global oil production that U.S shale oil actually represents it certainly has been a disruptive force.
Total shale production (there is no significant amount outside of the United States) is currently somewhere around 4.5 million barrels per day.
That is not much more than four percent of total current production which checks in at over 96 million barrels per day.
After having a look at Shell’s (NYSE:RDS.A) 2016 capital markets day presentation we think shale oil is going to become even more disruptive going forward for a select group of companies.
By Rakesh Upadhyay – Jun 22, 2016, 5:17 PM CDT
Ben Van Beurden, Chief Executive Officer of Royal Dutch Shell has laid out an ambitious plan to overtake ExxonMobil as the number one oil company in the world.
Prior to the 1990s, Shell was the leader in total shareholder returns, however, its rivals went on a deal-making spree to gain the lead, while Shell shied away from making any acquisitions. Now, Mr. Beurden believes that Shell will be able to regain its lost glory post the acquisition of the BG group.
By Mella McEwen [email protected]: 22 June 2016
Too big. Too rigid. Not nimble enough.
Those are reasons why integrated oil companies could have a difficult time competing with independents in the unconventional shale plays that have led to a resurgence in the nation’s oil and gas industry.
Royal Dutch Shell, however, disagrees with that reasoning and this week held an event to reaffirm its commitment to the shales business, including its holdings in the Permian Basin.
Shell officials discussed how its recent $70 billion acquisition of the BG Group has impacted its outlook. The event was a mixer at Shell’s Drilling Automation & Remote Technology (DART) Center located on its Houston campus and was webcast and available by telephone.
By Brett Ruskin, CBC News Posted: Jun 22, 2016
Nova Scotia’s offshore regulator has given Shell Canada permission to resume drilling the first of two exploratory wells, following an incident earlier this year which saw a two-kilometre-long pipe to fall to the ocean floor.
The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) said drilling can resume Wednesday, but Shell Canada faces new restrictions that will remain in place until the regulator completes further reviews.
Shell Canada’s contracted drill ship, the Stena IceMAX, will now have to disconnect from the sub-sea well head once waves reach five metres in height. Previously, the limit was eight metres.
Netherlands may decide on Groningen field production on FridayBy Rob Verdonck: Fred Pals: June 22, 2016 – 11:17 AM BST
Dutch natural gas advanced to the highest since December before a government decision on production from Europe’s biggest field expected on Friday.
The winter contract, for the six months from October, gained as much as 5.1 percent, according to broker data compiled by Bloomberg. Dutch Economy Minister Henk Kamp expects the government to decide on output from the Groningen field on Friday, the ANP news agency reported late Tuesday after De Telegraaf newspaper said gas extraction linked to earthquakes would be curbed by another 11 percent.
The agency declined to comment.
The Cabinet is expected to announce its production plans for the field for the period after Oct. 1, 2016 on Friday, after several cuts in the past year have left it at the rate of 27 bcm on an annualized basis.
The final decision will be based on the recommendations from the agency, Groningen’s operator NAM, a joint venture of Royal Dutch Shell and Exxon, and six other parties.
A majority of lawmakers Dutch parliament have called for production to be cut as far as possible to reduce earthquakes in the northern province caused by the gas extraction.
By Rakteem Katakey: June 22, 2016 — 12:01 AM BSTThe biggest oil-industry downturn in a generation has companies collaborating in ways they never thought possible.
In this global effort, one of the world’s most expensive oil regions intends to lead the way. Last month companies operating in the North Sea started pooling spare parts and tools, and they are even sharing plans on how to drill wells so they can work faster and cheaper, said Paul Goodfellow, Royal Dutch Shell Plc’s vice president for the U.K. and Ireland.
This is a big change from oil’s boom, when costs weren’t such an issue as long as $100-a-barrel crude kept flowing. As companies focus on adapting to prices closer to $50 by making their spending less wasteful, they also aim to boost profitability for years to come by keeping costs low as markets recover.
Bruce Palfreyman, general manager of Shell’s Permian asset group, said the company believes it has the best position in the Delaware, part of the Permian Basin in West Texas, in terms of size and rock quality. The company holds 300,000 net acres in the Delaware through its joint venture with Anadarko Petroleum Corp., with more than 5,000 future well locations on a risk basis.
Shell acquired the acreage in 2012 from Chesapeake Energy, and has spent the past three years maturing and de-risking the acreage, Palfreyman told reporters during a media event Monday in Houston to outline Shell’s strategy on its unconventional oil and gas business. The company has pursued a high-grade strategy for its Permian acreage, selling off peripheral acreage. Shell’s position in the Delaware contains 2 billion barrels of oil.
ST PETERSBURG, RUSSIA | BY DENIS PINCHUK AND DMITRY ZHDANNIKOV: Mon Jun 20, 2016 8:29am EDT
Russia’s state-controlled gas giant Gazprom (GAZP.MM) could gain control over some of the assets that Shell (RDSa.L) acquired earlier this year from BG group, a senior Gazprom executive said in an interview.
Gazprom’s Deputy Chief Executive Alexander Medvedev said the BG holdings could be included in an asset swap deal between Gazprom and Shell that was announced last year. He did not say what the BG holdings were or where they were located.
30 November 2023: Posted by John Donovan
The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more
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