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May, 2020:

Bloomberg: The World’s Most Controversial Gas Pipeline Is Nearing Its Endgame

May 13th, 2020
by John Donovan.
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The World’s Most Controversial Gas Pipeline Is Nearing Its Endgame

The almost 10 billion-euro ($11 billion) project is being financed by Royal Dutch Shell Plc… and…

Bloomberg News: Jonathan Tirone: May 13, 2020: 5:29 AM EDT: Last Updated May 13, 2020

(Bloomberg) — Construction of the world’s most controversial natural gas pipeline is about to enter the endgame of an energy dispute that’s pitted the U.S. against Russia and some of its closest trans-Atlantic allies, satellite images show.

The Nord Stream 2 pipeline, built to increase the flow of Russian gas into Europe’s biggest economy, was thwarted five months ago after U.S. President Donald Trump imposed sanctions that forced workers to retreat. Now, after a three-month voyage circumnavigating the globe, the Akademik Cherskiy, the Russian pipe-laying vessel that’s a prime candidate to finish the project, has anchored off the German port where the remaining pipeline sections are waiting to be installed. read more

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Bloomberg: Shell Gives Hope for Dividend Boost Once Oil Rout Is Over

May 13th, 2020
by John Donovan.
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By Laura Hurst: 13 May 2020, 14:10 BST: Updated on 13 May 2020, 16:42 BST

  • Company should be in ‘strong position’ to raise distributions
  • Finance chief cites potential to revive both dividend, buyback

Royal Dutch Shell Plc said it will be well placed to boost shareholder payouts once the oil market recovers, as it sought to appease investors after last month’s surprise dividend cut.

The Anglo-Dutch major tore up the industry’s financial playbook when oil’s collapse forced it to slash payouts. For decades, Big Oil had used its hefty balance sheet to borrow money when needed and keep investors sweet until the next upward cycle. But 2020’s unprecedented market rout has seen several large players — Exxon Mobil Corp. and Equinor ASA as well as Shell — freeze or reduce dividends. read more

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FORECOURTtrader.co.uk: Shell wants to be net-zero emissions business by 2050

May 13th, 2020
by John Donovan.
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Shell wants to be net-zero emissions business by 2050

12 May 2020

Shell aims to be a net-zero emissions energy business by 2050, or sooner if possible, as it focuses on its intention to “lead and thrive” through the transition to a low-carbon energy future.

In a recent Responsible Investment Annual Briefing, the company’s chief executive, Ben van Beurden, revealed an ambition to be net zero on all the emissions from the manufacture of all Shell products by 2050 at the latest. read more

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OilPrice.com: Has Demand For Oil Already Peaked?

May 13th, 2020
by John Donovan.
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By Nick Cunningham – May 12, 2020, 7:00 PM CDT

Oil prices continue to rise on the prospect of a rebound in fuel demand as economies begin to reopen.  But there is a large difference between oil demand rising from recent lows and actually growing relative to pre-COVID-19 trends. In other words, demand destruction on the order of nearly 30 million barrels per day (mb/d) may have been brief, but we are a long way from a 100-mb/d oil market.

In fact, some are wondering whether the world will ever get back to 100 mb/d of oil demand. Even oil executives have their doubts. Royal Dutch Shell’s CEO Ben van Beurden recently suggested that a rebound is unlikely, even looking out beyond 2020. “We do not expect a recovery of oil prices or demand for our products in the medium term,” he said. 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.

BusinessMagazine24.com: Eni finance boss Mondazzi under pressure over oil deals

May 12th, 2020
by John Donovan.
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Eni, the oil giant, will face shareholders at its annual general meeting in Rome this week amid growing resentment over the company’s performance and its involvement in a number of embarrassing scandals.

Scrutineer.biz, an activist investor website, has been following Eni’s troubles and we believe that chief financial officer Massimo Mondazzi has serious questions to answer over financial controls at Italy’s second-largest company.

This follows revelations that Eni has been caught in a number of scandals including unexplained deals with an oil trader and potential sanctions evasion. 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, Eni lead oil majors’ climate ambitions but still fall short -investors

May 12th, 2020
by John Donovan.
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Shell, Eni lead oil majors’ climate ambitions but still fall short -investors

Shadia Nasralla: MAY 12, 2020

* TPI prefers Eni for including third-party fuels, setting absolute carbon reduction target

* TPI says sector’s “net zero” carbon future not substantiated

* More details needed on offsetting, renewables plans

* OMV currently laggard among integrated energy groups

By Shadia Nasralla

LONDON, May 12 (Reuters) – None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday. read more

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COVID-19 Resilience Fund: Shell donates $3 million to help communities on the frontlines of the pandemic

May 11th, 2020
by John Donovan.
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COVID-19 Resilience Fund: Shell donates $3 million to help communities on the frontlines of the pandemic

Edinburgh, UK – Energy company Royal Dutch Shell (Shell) has announced a gift of $3 million to the global organization Mercy Corps’ COVID-19 Resilience Fund. This critical funding will help Mercy Corps respond to the COVID-19 pandemic, which will have a disproportionate impact on people who live in the fragile and conflict-affected places around the world.

Mercy Corps’ COVID-19 Resilience Fund will help provide essential aid to people and communities in order to protect themselves against the virus and to meet their basic needs. This includes providing communities with clean water, personal protective equipment (PPE) and cash to buy food for their families. It will also help communities recover economically and build resilience against future shocks. 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.

Oil Won’t Get a Post-Virus Lift From Public Transport

May 11th, 2020
by John Donovan.
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By David Fickling | Bloomberg: May 11, 2020 at 8:09 a.m. GMT+1 There’s one hope for oil market bulls facing into the abyss of the 9.3 million barrels-a-day demand slump from the spread of Covid-19: The aftermath will see a renaissance in car-driving.

“People will use public transport less” because of fears about picking up infection on crowded trains and buses, Cuneyt Kazokoglu, head of oil demand analysis at energy consultancy FGE, wrote in the Financial Times this month. “Increased reliance on cars once the lockdown measures ease will support petrol demand, potentially for years to come.”

There’s an intuitive logic to that proposition, and even signs that it might be backed up by data. Chinese cities are already seeing traffic jams on a par with pre-coronavirus times, according to data from TomTom International BV. With the pandemic still raging, the U.S. Energy Information Administration’s weekly petroleum status report has been showing a pick-up in gasoline consumption since its lows last month, though it’s still running 40% below where it was a year ago. 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.

MoneyWeek.com: Investors can no longer be sure of Shell

May 7th, 2020
by John Donovan.
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Oil giant Royal Dutch Shell, one of the market’s most reliable income providers, has cut its dividend for the first time in over 70 years. Matthew Partridge reports.

by: Dr Matthew Partridge: 7 MAY 2020

Last week Royal Dutch Shell cut its dividend for the first time since World War II, says Anjli Raval in the Financial Times. The payout for the first quarter was slashed from 47 cents to 16. No wonder. Not only did profits for the first three months of the year fall from $5.3bn last year to $2.9bn in 2020, but the oil major thinks that the situation will be “more severe” in the second quarter, with oil prices already down to $24 a barrel. The shares sank by 11% on the news.

The scale of the cut suggests that Shell believes that the crisis isn’t just a short-term event, but will cause “permanent change” in customers’ behaviour, say Anna Edwards and Laura Hurst on Bloomberg. The long-term impact on the way consumers work and travel “could be even more devastating for the industry” than the initial turmoil. Attitudes toward oil have been changing for some time “as the world shifts gradually toward cleaner forms of energy”. 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: Virus lockdowns pummel global gas demand, force LNG output cuts

May 7th, 2020
by John Donovan.
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Jessica Jaganathan, Scott DiSavino, Sonali Paul: MAY 7, 2020 SINGAPORE/NEW YORK/MELBOURNE (Reuters) – Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world’s biggest buyers of liquefied natural gas (LNG), pushing Asia’s spot prices to record lows and forcing some suppliers to start cutting output.

Economies worldwide have ground to a halt as virus containment measures have taken their toll, slashing gas demand for power generation, heating, cooking, vehicles and chemical manufacture. The world’s biggest LNG markets – Japan, China, South Korea and India – are all seeing a drop in demand.

Asia’s spot LNG prices LNG-AS dropped to $1.85 per million British thermal units (mmBtu) last week, the lowest ever, as cargoes have flooded the market. [LNG/]

“At prices in the $2/mmBtu range … some producers are getting close to not recovering cash costs of their operations. We are likely to see some producers start to ‘shut in’ (production),” said Alex Dewar, senior manager at the centre for energy impact at Boston Consulting Group (BCG). 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.

Avoid Shell Energy like the plague, they are taking advantage of people in lockdown

May 7th, 2020
by John Donovan.
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Featured below are extracts from negative customer reviews about Shell Energy posted during the last several days on Trustpilot.  Visit the Shell Energy page on Trustpilot to view all reviews in their entirety, positive and negative (and Shell Energy responses). Watch out for any fake reviews. Note the reoccurring themes in the negative reviews, including difficulty in communicating with the company. This article posted on 7 May 2020.

Avoid like the plague, they are taking advantage of people in lockdown

I was with the previous company before Shell took them over and had no problems with them, as soon as shell took over its been nothing but problems, for no reason my bill went from £ 75 to £92 and then 3 months later £102, i asked them to change my tariff to a cheaper one (£85) which all went through and i received confrontation. I checked the small print and there was 0 charge for changing tarriffs.
I got my bill today, not only has my bill stayed at £102 but theyve also charged me £100 for unknown “other charges and tarriff” upon looking at my bill the price p/kwh had DOUBLED in one month this has put me over £220 in arrears. And they do not want to help and say its what i owe so it must be paid even though they themselves dont know what the extra £100 charges are. It seems they are taking advantage of people being in lockdown and hiking there prices up
I have made a formal complaint to ofgem 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.

Poor choices and dud projects trigger calls for a Van Beurden succession plan?

May 6th, 2020
by John Donovan.
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Comment posted our article Shell Sells U.S. Appalachia Assets to National Fuel for $541 million

World-class investment case?

Shell apparently paid 4.7 USD billion in 2010 for the Marcellus shale and sells it now for 0.541 USD billion. 

How does this fit in with Shell’s strategy to provide a “world class investment case”? Some investors reacted sheepishly to the dividend haircut as a “sensible choice made by the Board”. Other investors see perhaps deeper underlying issues with Shell’s management choices and delivery performance, triggering calls for a Van Beurden succession plan.

Perhaps they see a longer legacy of poor choices and dud projects. (Shale, drilling in the Arctic, lacklustre exploration success, Prelude, BG acquisition, ….) 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 Sells U.S. Appalachia Assets to National Fuel for $541 million

May 5th, 2020
by John Donovan.
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NEWS PROVIDED BY Shell Oil Company: May 04, 2020, 16:20 ET

HOUSTON, May 4, 2020 /PRNewswire/ — Royal Dutch Shell plc, through its affiliate SWEPI LP (“Shell”), has reached an agreement with publicly listed U.S. energy company National Fuel Gas Company (NFG), and its subsidiaries, Seneca Resources Company, LLC, National Fuel Gas Midstream Company, LLC, and NFG Midstream Covington, LLC (together “National Fuel”), to sell its Appalachia shale gas position for $541 million, subject to closing adjustments. The transaction has an effective date of January 1, 2020. 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.

InvestorPlace.com: Shell Knows It’s a Zombie as Long as It Focuses on Fossil Fuels

May 5th, 2020
by John Donovan.
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The petroleum giant is adjusting to falling oil demand, cutting both its dividend and its capital budget

By Dana Blankenhorn, InvestorPlace Contributor May 4, 2020, 5:16 am EDT

The difference between Royal Dutch Shell and Exxon Mobil (NYSE:XOM) is that Shell knows it’s a zombie, something Exxon refuses to believe. Regardless of whether you trade the Dutch version of Shell stock (NYSE:RDS.A) or the British version (NYSE:RDS.B), you’re buying an fossil fuel company that is now promising to disappear.

Shell CEO Ben van Beurden put it this way: “There is an energy transition underway which may even pick up speed in the recovery phase of this crisis and we want to be well positioned for it.” 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 needs to consider Van Beurden succession

May 5th, 2020
by John Donovan.
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English translation of an article published today by the Dutch FT

Shell needs to consider Van Beurden succession

From our editor

CFO Jessica Uhl and CEO Ben van Beurden before the start of the Shell Shell shareholders’ meeting in Scheveningen last May. Photo: Piroschka van de Wouw / Reuters

In brief

  • Investors say in the Sunday Telegraph that Shell should reflect on the position of its top man.
  • The British newspaper published a story based on anonymous sources.
  • Shell is struggling: last week, the dividend was cut for the first time in decades.

One of Shell’s largest shareholders has suggested that the oil and gas company should start thinking about succeeding CEO Ben van Beurden, the day after Shell reduced its dividend for the first time since World War II. That writes the Sunday Telegraph. The British newspaper has spoken to two investors from the top 20 largest shareholders, one of which says it is time for a ‘changing of the guard’. 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 EVP Stephanie Boyde in ebullient mood, Shell pensioners are not 

May 4th, 2020
by John Donovan.
1 comment

John

I stumbled across this on Linked In this morning – Shell’s EVP for Remuneration Stephanie Boyde (apparently known affectionately as “Sheila”) celebrating her payroll team, her smiley personal leadership style plus the “that regular beam of sunshine that you regularly shine into our banks” in the form of payroll.

*(CLICK ON LINK TO SEE JUST HOW EBULLIENT – BEFORE THE VIDEO CLIP IS REMOVED?) 

https://www.linkedin.com/feed/update/

Given Shell pensioners have seen a TWO-THIRDS drop in income this week it seems somewhat insensitive to say the least… 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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