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Posts from ‘October, 2016’

Dutch companies want next government to focus on shift to clean energy

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screen-shot-2016-10-20-at-23-00-27Dozens of Dutch companies called on the country’s next government on Tuesday to establish an independent climate authority, environment minister and national investment bank to speed up the shift to clean energy.

The rare call for more government came from 39 companies, including oil giant Royal Dutch Shell, insurer Aegon and engineering consultancy Arcadis.

They argued that future Dutch leaders must adopt a comprehensive “climate law” after the general elections next March 15 that would establish bodies to oversee policies needed to meet targets set out in the 2015 Paris climate accord. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Malabu malady

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Extracts from “screen-shot-2016-10-24-at-13-41-15Malabu malady”

October 24, 2016

Dan Etete was the miserable fellow who as Minister of Petroleum Resources under the late junta Gen. Sani Abacha in 1998 awarded this massive oil block to his firm, Malabu Oil and Gas. But he was not alone, he had numerous other cronies, including Abacha’s son.

Shell Petroleum Development Company is the conniver-in-chief and perhaps the lead player in this graft theatre.

Today, a committee of the House of Representatives is reviewing the Malabu malfeasance. But Mr. Abubakar Malami, the Minister of Justice and Attorney-General of the Federation, says the matter is too complex if not confusing for his office to understand. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Among New LNG Sellers for Asia Gas Hub Contender Singapore

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By Ann KohSerene Cheong and Dan Murtaugh: Oct 24, 2016

Singapore, which is vying to become a regional center for the trading of liquefied natural gas in Asia, picked Royal Dutch Shell Plc and Pavilion Gas Pte Ltd. as its next suppliers of the fuel.

The companies will have exclusive rights to sell 1 million metric tons of LNG annually for up to 3 years, with imports beginning in 2017, the city-state’s Energy Market Authority said in a statement. The country will also consider spot purchases of the supercooled fuel and piped natural gas on a case-by-case basis, S. Iswaran, the Minister of Industry, said at the Singapore International Energy Week conference on Monday. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Singapore awards new LNG import licences to Pavilion Gas and Shell Eastern Petroleum

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By Ann Williams

SINGAPORE – Pavilion Gas and Shell Eastern Petroleum have won exclusive contracts to supply Singapore with its next tranche of liquefied natural gas (LNG), beating out Sembcorp Industries and BG Singapore Gas Marketing.

“These two companies were selected on the basis of the reliability, flexibility and competitive-pricing of their LNG supplies,” said Mr S. Iswaran, Minister for Trade and Industry (Industry). “They have also secured strong support from buyers.” read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Singapore awards LNG import licences to meet future demand

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* Pavilion Gas, Shell win Singapore LNG import licences

* Importers offer shorter term contracts, alternate indices

* Immediate rise in LNG demand unlikely – traders (Updates story with Shell’s comments, details)

screen-shot-2016-10-20-at-23-00-27By Mark Tay: SINGAPORE, Oct 24

Pavilion Gas and Shell Eastern Petroleum have been appointed as importers of liquefied natural gas (LNG) into Singapore, the trade minister said on Monday, as the city-state gears up to take more LNG.

Singapore, which relies almost exclusively on gas for electricity generation, currently takes the bulk of its gas via pipelines from Malaysia and Indonesia but is expected to boost LNG shipments in coming years. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s $30bn divestment programme: What we know so far

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Written by Mark Lammey – 22/10/2016 5:30 am

Oil and gas giant Shell plans to sell $30billion worth of assets from 2016 to 2018 to offset the cost of its $50billion takeover of BG Group, which was completed in February.

By the end of June, 2016, Shell had completed deals worth $1.5billion, according to its half-year results update.

Of that sum, $820million was generated by offloading interests in Shell Midstream Partners, while $560million came from the sale of property, plant and equipment and businesses. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

BRIEF-Brazil’s Cosan, Shell negotiate new Raizen ownership deal – paper

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screen-shot-2016-10-20-at-23-00-27Brazil’s Cosan SA and Royal-Dutch Shell are in advanced talks to define the ownership of their joint venture Raizen formed in 2011, according to a story published in the Valor Economico newspaper on Friday

* A new accord between the two stakeholders of the 50-50 joint venture Raizen has not be formalized

* Cosan did not comment on the report and Shell is in its quiet period ahead of earnings, the paper said

* The current accord between the parners gives both sides the right to buyout the other after the 10th and 15th year from the formation of Raizen read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Irish Supreme Court orders that Peter Sweetman must pay Shell’s costs in challenge to Corrib planning

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Here (Sweetman v Shell), the Supreme Court held that Part 2 of the Environmental (Miscellaneous Provisions) Act 2011 (Costs of Certain Proceedings to be Borne by Each Party in Certain Circumstances) (link) does not act retrospectively. Charleton J stated: This is because the award of costs is not essentially procedural. An expectation as to the recovery of costs affects both the decision to commence a case and the necessary and legitimate prediction that it would be funded if successfully prosecuted or successfully defended by the party required to answer a legal action. Laffoy J and Dunne J concurred.  read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Royal Dutch Shell – Additional Divestments In Order To Sustain The Dividend

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Oct. 21, 2016 10:17 AM ET

Summary

  • Shell is announcing further divestments, this time selling part of its shale operations in Canada.
  • These moves do little to address the giant debt load, although they allow for cash flow neutrality this year.
  • Asset sales, resulting in smaller operations, combined with shareholder dilution hurt the long term potential as management stubbornly tries to preserve the dividend.

Royal Dutch Shell (RDS.A) announced another round of divestments in order to keep leverage under control, even as oil prices have rebounded a bit in recent times. These modest divestments are countercyclical and hurt production quite a bit in relation to the proceeds. At best cash outflows come to a standstill this year following these moves, although they result in a smaller business going forward, while investors see dilution of the shareholder base in order to sustain the unsustainable dividend. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Survival in the harsh conditions of the oil downturn

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By Ed Crooks: October 21, 2016

The mood at the Oil and Money conference in London, the big energy event of the week, was a case of mixed emotions: cheer over signs of a near-term pick-up in the market, and concern over longer-term threats to demand.

The headlines were made on Wednesday by a clash between two of the biggest names in energy: Khalid al-Falih, energy minister of Saudi Arabia, and Rex Tillerson, chief executive of ExxonMobil. In his keynote speech, Mr al-Falih warned of the risk of “a shortage of supply” in future years because of plunging investment in oil production. Speaking minutes later, Mr Tillerson suggested he did not expect a collapse in supplies, because US shale provided “enormous spare capacity” to meet rising demand. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell divests non-core shale acreage in Western Canada for total consideration of US$1 billion

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Oct 20, 2016, 17:26 ET

CALGARY, Oct. 20, 2016 /PRNewswire/ – Royal Dutch Shell plc, through its affiliate Shell Canada Energy (“Shell”) today announced it has agreed to sell approximately 206,000 net acres of non-core oil and gas properties in Western Canada to Tourmaline Oil Corp. for a total consideration of approximately $1,037 million (C$1,369 million). The consideration is comprised of $758 million in cash and Tourmaline shares valued at $279 million. Subject to regulatory approvals the transaction is expected to close in the fourth quarter of 2016. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Court fixes date for FG’s suit against Shell over $406.7m crude oil theft

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Court fixes date for FG’s suit against Shell over $406.7m crude oil theft

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By NAN   |   20 October 2016   |   11:36 am

A Federal High Court in Lagos on Thursday fixed Dec. 8 for the hearing of a suit filed by the Federal Government against Shell Western Supply & Trading Ltd over alleged 406. 75 million crude oil theft.

The suit no. FHC/L/CS/336/16 was filed by FG’s Counsel, Prof. Fabian Ajogwu (SAN) before Justice Mojisola Olatoregun.

Defendants in the suit are Shell Petroleum Development Company of Nigeria Ltd and its subsidiary — Shell Western Supply & Trading Ltd. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell selling 16 upstream assets worth more than $500 mln

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cropped-Screen-Shot-2016-09-09-at-20.58.10.jpgRoyal Dutch Shell is currently offering 16 assets worth more than $500 million for sale as part of its vast $30 billion three-year asset sales programme, the oil and gas company’s head of upstream Andy Brown said on Wednesday.

The Anglo-Dutch company launched the programme to reduce its debt following the acquisition of BG Group earlier this year. Uncertainty over the future oil price has led to a sharp slowdown in deal making in the sector in recent years.

“There are 16 assets currently in the market that are above $500 million in value,” Brown told the Oil and Money conference in London. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Son of Nigeria’s Ken Saro-Wiwa dies

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screen-shot-2016-10-19-at-10-26-1719 October 2016

The son of renowned Nigerian environmental activist Ken Saro-Wiwa, who was executed more than 20 years ago, has died in London.

Ken Saro-Wiwa Jr, 47, passed away after suffering a stroke, his family say.

He was a journalist who became a presidential adviser.

The 1995 execution of his father by a military government for leading protests against environmental degradation caused by the oil industry sparked global outrage.

Saro-Wiwa Sr led the Movement for the Survival of the Ogoni People (Mosop), which accused oil multinational Shell of destroying the environment in his home region of Ogoniland in south-eastern Nigeria. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Fitch: Batteries could be key disruptor to oil industry in “investor death spiral”

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Oct 18 2016, 12:45 ET | By: Carl Surran, SA News Editor

Oil producers such as ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX) and Royal Dutch Shell (RDS.A, RDS.B) must prepare for radical change as adoption of new technologies like electric cars could happen faster than originally anticipated, according to a new report from Fitch Ratings.

“Widespread adoption of battery-powered vehicles is a serious threat to the oil industry,” and an acceleration of the electrification of transport infrastructure could create an “investor death spiral” as investors flee the oil patch, Fitch warns. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

How electric cars could smash BP plc and Royal Dutch Shell plc

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By Harvey Jones – Tuesday, 18 October, 2016

Investors in UK-listed oil giants (LSE: BP) and Royal Dutch Shell (LSE: RDSB) have been paying close attention to the oil price because they know that unless it climbs higher, their juicy 7%-plus dividend yields will be in jeopardy. However, they need to look to more distant horizons, because even if the oil price does climb a little higher this year, the long-term outlook is mixed.

Golden years

I’ve always thought ‘black gold’ to be a rather daft a description for oil, given that gold has few practical uses but the global economy runs on crude. However, that may not always be the case, due to the rise of electric vehicles and renewable energy. A new report from the World Energy Council suggests these two trends could hit demand for oil sooner and harder than expected. Oil consumption could actually start falling within the next 10 to 15 years and if correct, this would play havoc with the investment case for BP and Shell. read more

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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