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Royal Dutch Shell News 15 August 2018

In spite of everything hurled by the North Sea and global market conditions across half a century, and despite predictions to the contrary, Shell remains a big player on the UK Continental Shelf.

Energy Voice interviewed Shell UK upstream vice president Steve Phimister aboard the Shearwater platform.

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A characteristic throughout has been a quest to lead.

Driving Shell forward is VP Upstream President Steve Phimister who, by coincidence, was born the same year as Shell’s UKCS odyssey began 50 years ago.

The super-major has lived through boom times followed by harsh periods when commodity prices were in the basement and, from the late 1990s, speculation grew as to whether such companies had a future in the North Sea.

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By: , SA News Editor

 

  • Royal Dutch Shell (RDS.ARDS.B) and Mexico’s Pemex extend their Deer Park refining joint venture in Texas with a 10-year agreement to 2033.
  • The deal reduces the joint venture supply of Maya to 70K bbl/day while shifting the crude to a fixed $59.35/bbl for 10 years beginning in 2023, which allows for more crude options at the 340K bbl/day refinery and some stability for a formula-priced feedstock rocked by wild swings in West Texas Sour prices, Argus reports.
  • Pipeline bottlenecks connecting Permian light sweet production to larger markets have helped to depress prices for the sour crude; a fixed Maya price of $59.35/bbl would mark a nearly 3% discount from prices so far this year.

Full Article

 

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