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March, 2020:

Reuters: Shell cuts 2020 spending by $5 billion, suspends share buyback

Mar 23rd, 2020
by John Donovan.
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REUTERS: Ron Bousso: MARCH 23, 2020

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) will lower spending by $5 billion and suspended its vast $25 billion share buyback plan in an effort to weather the recent collapse in oil prices, it said on Monday.

The Anlgo-Dutch oil major said it would reduce capital expenditure to $20 billion or below from a planned level of about $25 billion while seeking to reduce operating costs by an additional $3 billion to $4 billion over the next 12 months.

The cuts are expected to boost Shell’s cash generation by between $8 billion and $9 billion on a pre-tax basis. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell acts to reinforce business resilience and financial strength

Mar 23rd, 2020
by John Donovan.
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Shell acts to reinforce business resilience and financial strength

Mar 23, 2020

As the COVID-19 virus spreads across the world – seriously impacting people’s health, our way of life and global markets – Shell is putting the safety and health of our people and customers first, along with the safe operations of all our businesses.

At the same time, we are taking decisive action to reinforce the financial strength and resilience of our business so that we are well-positioned for the eventual economic recovery.

“As well as protecting our staff and customers in this difficult time, we are also taking immediate steps to ensure the financial strength and resilience of our business,” said Ben van Beurden, Chief Executive Officer of Royal Dutch Shell. “The combination of steeply falling oil demand and rapidly increasing supply may be unique, but Shell has weathered market volatility many times in the past.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Times: Shell cuts spending by $9bn to counter oil price collapse

Mar 23rd, 2020
by John Donovan.
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Shell cuts spending by $9bn to counter oil price collapse

Emily Gosden, Energy Editor:

Royal Dutch Shell is to stop buying back shares and slash spending by up to $9 billion this year in response to the collapse in oil prices.

The Anglo-Dutch energy giant said that it would suspend its share buyback programme after the current $1 billion tranche is completed.

It said that it aimed to reduce underlying operating costs by $3 billion to $4 billion over the coming 12 months and would reduce its capital spending to $20 billion or less, down from $25 billion planned.

Ben van Beurden, Shell chief executive, said that he was “taking immediate steps to ensure the financial strength and resilience of our business”. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Reuters: Shell lowers 2020 capex, suspends share buyback

Mar 23rd, 2020
by John Donovan.
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March 23 (Reuters) – British oil major Shell joined other companies in the sector in lowering capital expenditure for the current year by about $5 billion and suspended the next tranche of its share buyback plan to weather a hit from the recent oil price crash.

The company said it would reduce 2020 cash capital expenditure to $20 billion or below from a planned level of around $25 billion, adding that the initiatives would contribute $8 billion-$9 billion to free cash flow on a pre-tax basis. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Why consolidation will be key for oil companies

Mar 22nd, 2020
by John Donovan.
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Robin Mills: March 22, 2020 EXTRACTS

Oil companies are survivors: Shell, BP and ExxonMobil each date back more than a century. After surviving wars, pandemics, depressions, gluts and nationalisations, they had begun to grapple with a new existential challenge: how to transform themselves in the era of climate change. Now the coronavirus crisis threatens to derail the big oil companies’ emerging plans.

Consolidation is inevitable, in the style of welding together two car wrecks to make a half-viable vehicle. Very cheaply, a supermajor could build a business to rule all shale – but it would be a huge gamble. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Energy update on the impact of COVID-19 (coronavirus) 

Mar 20th, 2020
by John Donovan.
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We’re closely following government advice on COVID-19 (coronavirus) as the situation develops. We want to make sure we continue to give our customers all the support they need, while still protecting the wellbeing of both our staff and customers.

You can manage your account as normal by logging in or using our app. Where possible, please do this in the first instance.

If you’re in need of urgent support, you can call us on the relevant number below. It might take a little longer for us to answer, but we’ll make sure you speak to a member of our team. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Worker quarantined on Shell’s Brent Charlie while BP flies a suspected coronavirus case to shore

Mar 19th, 2020
by John Donovan.
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A worker who has shown symptoms of the coronavirus has been placed into quarantine on Shell’s Brent Charlie platform in the North Sea.

The energy giant said the man has been placed in isolation and that arrangements are being made to fly him back to shore.

A spokesman said: “We can confirm that a colleague on Brent Charlie has been isolated as a precautionary measure, after showing symptoms which may indicate coronavirus.

FULL ARTICLE

RELATED

North Sea ‘chaos’ as more suspected Covid-19 cases spring up

A trade union official has said the North Sea is firmly in the grip of coronavirus “fear” and lamented a perceived lack of leadership. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Amnesty International: KEY FACTS ABOUT SHELL IN NIGERIA

Mar 19th, 2020
by John Donovan.
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Nigeria is Africa’s largest oil producer.4

Its industry is based in the Niger Delta, in the south of the country, where Shell first found oil in commercially viable quantities near the village of Oloibori in 1956, when Nigeria was still a British colony.5

The Niger Delta has since become Africa’s most valuable oil-producing region.

The industry is run by joint ventures between the Nigerian government and multinational companies. Shell has always been the most important of these. Shell runs its oil operations in Nigeria through its subsidiary, Shell Petroleum Development Company (SPDC). It is a major shareholder and the operator of the country’s largest joint venture, which produces almost 40 percent of Nigeria’s oil.6 read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Telegraph: Could Big Oil’s well of cash finally dry up?

Mar 19th, 2020
by John Donovan.
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ROBIN PAGNAMENTA: 19 MARCH 2020

It is the biggest company in the FTSE 100 and its largest dividend payer – a cornerstone investment for millions of pension funds around the world.

Royal Dutch Shell has not cut dividend payments to shareholders for more than 70 years but a precipitous plunge in oil prices this month has left chief executive Ben van Beurden facing an agonising choice.

The oil price war launched by Russia and Saudi Arabia on March 9 and fuelled by a collapse in demand linked to coronavirus will damage the entire industry – but some producers are far better positioned than others to survive a lengthy downturn. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell To Temporarily Shut Down Construction At Cracker Plant

Mar 18th, 2020
by John Donovan.
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Andy Sheehan: March 18, 2020 at 3:59 pm

MONACA, Pa. (KDKA) – Union officials say Shell is temporarily shutting down construction at the Beaver County cracker plant after workers raised concerns related to the potential spread of coronavirus.

On Wednesday, Beaver County Commissioners called on Shell to shut down construction at the multi-billion-dollar cracker plant. Workers had complained of crowded buses and unsanitary conditions.

Workers at the construction site have been reporting a lack of progress on a laundry list of concerns related to the potential spread of COVID-19. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: Big Oil’s Big Crisis: Saving Sacred Dividends From Collapse

Mar 18th, 2020
by John Donovan.
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Laura Hurst and Kevin Crowley: Bloomberg: March 18, 2020 (Bloomberg) — To understand the crisis engulfing the world’s largest oil companies, just look at their dividend yields. Exxon Mobil Corp., for decades considered one of the bluest of blue-chip stocks, is paying investors 10%. For Royal Dutch Shell Plc, the Anglo-Dutch giant that hasn’t cut payments to shareholders since the Second World War, its 12-month dividend is equivalent to 14% of its current share price. BP Plc offers a yield of 12.4%, and France’s Total SA 11%. Yields at those levels typically suggest one thing: a significant risk that shareholders may not get the money they’ve been promised.

No Big Oil executive would ever accept that’s true — at least for now. Even as management teams confront both the catastrophic demand destruction wrought by the spread of coronavirus and an oil-price war between Saudi Arabia and Russia, they’re determined to keep paying.

“Nobody wants to be the CEO who cuts the dividend,” said Noah Barrett, a Denver-based energy analyst at Janus Henderson Group Plc, which manages about $375 billion. “They understand that any company that cuts, its shareholders will flow into competitors and be very, very hesitant to ever come back.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Malabu Scandal – Nigeria Loses Bid to Postpone London Trial

Mar 18th, 2020
by John Donovan.
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The Nigerian government on Monday lost a bid to postpone a massive claim against oil giants, Eni and Shell, in a London court.

Royal Dutch Shell and Eni’s bid to block a $1.1 billion civil claim over corruption allegations in Nigeria will go ahead next month, Mark Pelling, a judge in a London court ruled on Monday.

The court ruled that it should not wait for a connected Italian ruling.

Nigeria wanted the April court date postponed until January 2021, when a connected criminal case in Milan will have concluded. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Great Covid-19 Panic Buy

Mar 18th, 2020
by John Donovan.
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This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Ken Saro-Wiwa’s Exoneration Will Be Critical to Resolve the Ogoni Problem – MOSOP

Mar 17th, 2020
by John Donovan.
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Says Ogoni Demands for Self Determination is Justifiable

The Movement for the Survival of the Ogoni People (MOSOP) has again called for the exoneration of the nine innocent Ogoni activists killed on November 10, 1995 by the Nigerian government.

In an interview with Voice of America”s James Butty in Washington DC president of MOSOP, Fegalo Nsuke said one critical aspect of the Ogoni problem that must be addressed is the exoneration of the nine Ogoni activists executed by the Nigerian government on November 10, 1995

Listen to the VOA interview available here read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Workers At Beaver Co. Shell Cracker Plant Say Construction Site Is Unsanitary Amid Coronavirus Outbreak

Mar 17th, 2020
by John Donovan.
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By Andy Sheehan

BEAVER COUNTY (KDKA) — Over the last few days, KDKA has received questions about the Shell Cracker plant that is under construction in Beaver County.

The coronavirus has not slowed construction at the multibillion-dollar cracker plant as thousands of workers continue to speed the project towards completion.

But those same workers say the site is riddled with unsanitary conditions and standard social distancing protocols are being ignored.

In more than a dozen emails to KDKA, workers raised concerns about being transported to the site on crowded buses and called daily to mandatory mass meetings. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell E&P purges contempt in Erris land proceedings

Mar 16th, 2020
by John Donovan.
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MONDAY, MARCH 16, 2020

Shell E&P purges contempt in Erris land proceedings

Shell E&P Ireland – the former operator of the Corrib Gas project – has been deemed to have purged its contempt of a district court order.

Civil proceedings initiated by Monica Muller, Rossport South, North Mayo against Shell E&P Ire­ land Ltd. Corrib House. 52 Lower Leeson St. Dublin 2 were concluded in Ballina District Court last Fri­day when Judge Fiona Lydon found, in accordance with a Su­preme Court ruling, that the de­fendant company had been in contempt of a court order when it entered commonage lands at Ros­sport and Muingnabo without notification in 2007 and 2008. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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