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Posts from ‘April, 2018’

Shell says fully committed to Iraq gas venture, plans ‘massive’ expansion

DUBAI (Reuters) – Royal Dutch Shell (RDSa.L) is fully committed to its gas joint venture in Iraq, after the energy major exited its oil assets in the OPEC country, and plans to boost its gas output there to 1.4 billion cubic feet (bcf) a day by 2020, a senior executive said. Iraq’s gas development plans have long focused on Basra Gas Co (BGC), a $17 billion, 25-year project in which Iraq has 51 percent, Shell 44 percent and Japan’s Mitsubishi Corp (8058.T) 5 percent. The project was designed to aggregate gas from fields in the south including West Qurna 1, operated by Exxon Mobil Corp (XOM.N); Zubair, operated by Italy’s Eni (ENI.MI); and Rumaila, developed by BP (BP.L). 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

Shell Isn’t Worried About Peak Demand But Asset Managers Are

: April 30, 2018

Summary

  • Royal Dutch Shell’s latest Energy Transition Report contains a demand outlook for oil and gas that is quite conservative compared to its industry peers.
  • The company’s demand outlook is higher than what will likely be possible if the Paris Climate Agreement’s emissions targets are to be achieved, however.
  • Almost 90% of respondents in a recent survey of major asset managers believe that climate risks will have a “significant” impact on oil and gas company valuations in the near-term.
  • read more

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

    Shell spying and surveillance operations

    Guardian Newspaper article 5 November 2015

    Extracts from the ebook “John Donovan, Shell’s Nightmare” (now available on Amazon websites globally)

    The extract below makes a reference to “Mr Hoots”, an American associated with the U.S. Intelligence community who became involved in the Shell/Donovan litigation, while falsely claiming to be on a journalistic assignment on behalf of Business Week magazine. It seemed obvious from his extensive activities on the case that an unknown party with very deep pockets was funding his false flag mission.

    Extracts from pages 108 & 109

    Mr. Hoots came to the UK specifically to gather information about my case against Shell and incurred substantial costs. He never approached Shell to find out their side of the story, only my solicitor, my witnesses and me. He never published an article. He used false pretences when speaking to all of us and gained access to an array of documents. I later found out that his modus operandi was entirely in keeping with the common method of operation by undercover agents engaged in corporate espionage. read more

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

    HISTORICAL OVERVIEW OF THE OGONI CRISIS BY AMNESTY INTERNATIONAL

    On 10 November 1995, nine men from Ogoniland, a small area within Nigeria’s oil-producing Niger Delta region, were hanged by the military authorities, after a blatantly unfair trial. Their bodies were then dumped in unmarked graves. One of them was the outspoken and acclaimed writer Kenule (Ken) Saro-Wiwa… The other men executed that day were Dr Barinem Kiobel, a former government official, and seven members and supporters of MOSOP… 

    Extracts from pages 17, 18 & 19 of an Amnesty International document headed: “A CRIMINAL ENTERPRISE? SHELL’S INVOLVEMENT IN HUMAN RIGHTS VIOLATIONS IN NIGERIA IN THE 1990s”

    EXTRACT BEGINS

    On 10 November 1995, nine men from Ogoniland, a small area within Nigeria’s oil-producing Niger Delta region, were hanged by the military authorities, after a blatantly unfair trial. Their bodies were then dumped in unmarked graves. One of them was the outspoken and acclaimed writer Kenule (Ken) Saro-Wiwa, who had gained worldwide recognition for his leadership of a campaigning organization, the Movement for the Survival of the Ogoni People (MOSOP). This had drawn attention to the ecological devastation caused by decades of oil production, and the lack of economic development, in Nigeria’s oil-producing areas. The other men executed that day were Dr Barinem Kiobel, a former government official, and seven members and supporters of MOSOP: Saturday Dobee, Paul Levula, Nordu Eawo, Felix Nuate, Daniel Gbokoo, John Kpuinen and Baribor Bera. 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 $14-billion contract for Kitimat project a sign B.C. may catch the second LNG wave

    Jesse Snyder: April 27, 2018 2:19 PM EDT

    The consortium behind LNG Canada named the prime contractors for its $40-billion export project on Friday, taking the development forward amid concerns that steep import tariffs on some steel components could still make the project untenable.

    In a decision the consortium called a “significant milestone,” LNG Canada said U.S.-based Fluor Corp. and Japan’s JGC Corp. would lead the $14-billion construction contract for the liquefied natural gas project in Kitimat on the B.C. West Coast. Construction of the facility would employ thousands of workers and take roughly five years to complete. read more

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

    Shell praises oil and gas operations run from Aberdeen

    26 April 2018

    ROYAL Dutch Shell finance chief Jessica Uhl has hailed a big increase in profitability in the North Sea and underlined the oil and gas giant’s commitment to the area. As Shell posted a 42% increase in first quarter profits to $5.3bn (£3.8bn) from $3.8bn, helped by the rise in oil and gas prices, Ms Uhl indicated the North Sea has played a big part in the growth story. “We’re seeing a really fantastic performance from our assets in the North Sea,” she told reporters. 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

    Shell puts buybacks on hold despite rising profit

    Workers at a project in Malaysia. Shell has operations in more than 70 countries: FLICKR

    Emily Gosden: April 2018

    Royal Dutch Shell reported its best quarterly profits in five years but disappointed investors yesterday by generating less cash than expected and failing to start promised share buybacks.

    The Anglo-Dutch energy giant said that resurgent oil and gas prices helped deliver a 69 per cent surge in profits to $5.7 billion in the first quarter — the highest since the first quarter of 2013.

    Underlying profits of $5.3 billion were fractionally ahead of market forecasts but cashflow was below expectations and Shell’s shares fell 0.73 per cent. read more

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

    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, shellnazihistory.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, shellnazihistory.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, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

    Offshore industry ‘perilously close to disasters’ warning from HSE

    The Health and Safety Executive has written to all oil and gas operators expressing concern about the number of gas releases in the industry.

    The regulator said some had come “perilously close to disaster” and that more needed to be done to tackle them.

    The HSE said a “lack of leadership” was often to blame for leaks, and called for firms to review their processes.

    Operators have until July to respond with a summary of their planned improvements.

    The HSE has written to operators ahead of the 30th anniversary of the Piper Alpha disaster. The platform exploded in July 1988, leaving 167 men dead. read more

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