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investors CHRONICLE: Shell’s LNG bet looks sound despite glut

Mark Robinson

When Royal Dutch Shell (RDSB) launched its £35.6bn bid for BG Group, it was easy to appreciate the strategic rationale. At a stroke, the Anglo-Dutch energy giant not only bolstered its reserves, but also shored-up its position in a global liquefied natural gas (LNG) market which had grown rapidly since the turn of the millennium.

Shell wasn’t alone in increasing its exposure to the sector, but investors may now be questioning whether long-term prospects in gas markets warrant the massive capital allocation. A supply glut, most noticeably in the US Permian basin, weighed on gas prices last year, and there are few signs of respite as new fields in Australia and Russia come online. read more

royaldutchshellplc.com and its 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.

Chron: ‘A sector in disarray’: Oil majors live beyond their means on investor payouts, study finds

“Investors are gradually moving away from energy stocks. A look behind the dividend payments of the leading companies helps explain why. For the core business of these companies, there is more money going out than coming in.” 

The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report.

The study from the Cleveland-based Institute for Energy Economics and Financial Analysis found that the five largest Big Oil majors — Exxon Mobil, Chevron, Royal Dutch Shell, BP and Total — spent $536 billion on shareholder dividends and stock buybacks since 2010 while bringing in just $329 billion in free cash flow. read more

royaldutchshellplc.com and its 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.

Andrew Gould

Extracts from a MySanAntonio.com article: “Oxy shores up board with former Schlumberger CEO”

Occidental Petroleum added to its board of directors Thursday with the appointment of a former chief executive of Schlumberger… Andrew Gould, who previously headed the world’s largest oilfield services firm until 2011…

As for Gould’s background, he led Schlumberger as the chairman and CEO from 2003 to 2011. He then chaired the United Kingdom’s BG Group until 2016 when it was bought by Royal Dutch Shell. The Anadarko sale was the biggest energy deal in the world since the BG deal. Gould is currently a board member with the state-owned energy giant Saudi Aramco. read more

royaldutchshellplc.com and its 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.

Allegations about BG Group ‘Chosen Few’ transferred into Shell

Postings on our Shell Blog making allegations about the so-called BG Group ‘Chosen Few’ transferred into Shell

LondonLad

2019/11/26 at 11:36 am

I can only assume from the continuous moaning from “Bonus Group” that he/she was not one of the “chosen few” from the BG group and hence the vindictiveness. Poor performance = limited or no job opportunities which applies to both Shell and ex-BG staff. As a share holder I wouldn’t want it differently.

Bonus Group

2019/11/27 at 12:30 pm

London Lad, Good to hear from you. I hope that you enjoyed your recent trip to Aberdeen. Having also been employed by Shell, I consider myself fortunate that I was not one of the ‘Chosen Few’. The ‘Chosen Few’ are the most corrupt of the corrupt and will fit in well with your ilk. In respect of the slur about my performance, BG were involved in what can only be described as a stupendous multi-billion dollar technical fraud against Petrobras based upon a corrupt workflow which was both Functionally Approved through their Assurance Team and signed-off by the relevant Discipline Functional Head. They refused to correct their workflow and that resulted in a technical fraud. They tried to make me complicit in this fraud, but I refused. That is called integrity, something which I have no doubt that you know little of. You clearly relish brushing shoulders with fraudsters and liars. read more

royaldutchshellplc.com and its 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.

The acceptance of the ‘Chosen Few’ from BG by Shell can only lead to further corruption

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Postings on our Shell Blog

Bonus Group

2019/11/22 at 11:59 pm

Further to Bogus Group’s post of Thursday 21st November. BG Group the failed Internet Cafe, cappucino and Belgian chocolate lifestyle company had an established reputation for: constructive dismissal, lack of transparency and corrupt ‘do as I say, not as I do’ line management. The acceptance of the ‘Chosen Few’ from BG by Shell into its upper echelons can only lead to further corruption. After all what was on the BG Portal in terms of Company Policy was of course also law, or at least that is what they would have you believe. As employers they were a complete disgrace and the company a complete shambles from top to bottom. Visitors to this site can look forward to more revelations of incompetence in due course as they unfold. read more

royaldutchshellplc.com and its 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.

LEXOLOGY: In-house lawyer prevented from relying on leaked email and overhead conversation

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Facts 

Mr Curless was a senior legal counsel at Shell International Limited from January 1990 until he was made redundant in January 2017. He suffers from Type 2 diabetes and obstructive sleep apnoea. He brought a claim against Shell for disability discrimination, victimisation and unfair dismissal.

In support of his claim, Curless relied on a leaked email from April 2018 sent by Shell’s managing counsel, Alex Ward, to Curless’s manager. In this email, Ward explained that Shell could use a planned reorganisation of its in-house legal team in order to terminate Curless’s employment. Ward added that this approach was worth considering so as to avoid the risk of “impasse and proceedings with ongoing employment with no obvious resolution”. Curless alleged that the emails showed that Shell’s redundancy process was a sham used to terminate his employment, and that he had been made redundant because he had raised his grievances internally about his disability discrimination and brought a claim in the Employment Tribunal. read more

royaldutchshellplc.com and its 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.

EnergyVoice.com: Court blocks use of pub chat and leaked email in Shell unfair dismissal claim

Court blocks use of pub chat and leaked email in Shell unfair dismissal claim

A former senior lawyer at Shell cannot use a leaked email or an overheard pub conversation in his discrimination claim, a court has ruled.

Michael Curless was senior legal counsel for the energy giant from 1990 until his termination in 2017, which Shell said was by reason of redundancy.

However Mr Curless, who suffers from obstructive sleep apnoea and type 2 diabetes, made an employment tribunal claim that he was the subject of “disability discrimination, victimisation and unfair dismissal” which Shell denies.

He also alleged that Shell used the planned reorganisation of its in-house legal department following its 2016 takeover of BG Group as a pretext for terminating his employment. read more

royaldutchshellplc.com and its 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.

The Sunday Times: Why oil giants still say it’s got to be gas

: October 20 2019, 12:01am, The Sunday Times EXTRACTS

Investors turn fossil fuels into dinosaurs

Bank of England governor Mark Carney sent shock waves through the City four years ago by warning that investors in fossil fuel companies faced “potentially huge” losses from vast reserves that could become “literally unburnable”.

Oil giants’ multibillion-pound bet — that gas will power the global economy into a low-carbon future — now looks risky. Royal Dutch Shell bet its future on gas in 2015 with its £47bn takeover of troubled rival BG, the rump of privatised British Gas. Shell lifer Ben van Beurden’s deal turned the Anglo-Dutch giant into the world’s biggest liquefied natural gas (LNG) company.

Fear among investors is evident in the oil giants’ share prices. read more

royaldutchshellplc.com and its 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.

Upstream Online: Shell learns from Prelude challenges?

Upstream Online: Shell learns from Prelude challenges

Shell is currently in the process of ramping up its Prelude floating liquefied natural gas development off Western Australia, but the ambitious project …

Extract ends

Printed below are extracts from recent postings on our Shell Blog relating to the above Upstream Online article and its interview with Shell VP Prelude, Bob Jager.

Posting on 19 August 2019

I would be interested to know the content of the article just published by Upstream Online about the Prelude FLNG problems?

What I do know is that Prelude is still having difficulties in with the processed volumes of any of the three streams of product, LNG, LPG and condensate.

I have been monitoring the Marine Traffic web site with Prelude as the target. The offtake tankers, LNG or condensate, can be seen hanging around but at a greater distance from Prelude making it not as easy to keep track of as in previous occasions. The latest LNG tanker, Symphonic Breeze, has been nearby for nearly a week waiting for its nominated cargo. The demurrage costs must be quite high by now as the “notice of readiness” will have been tabled on arrival. read more

royaldutchshellplc.com and its 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.

FT: Cash boost primes Shell for more spending

The Anglo-Dutch energy major has, like its peers, spent the last few years cutting costs as it recovered from the 2014 oil price crash. It has also sought to cut debt after its $53bn deal for BG Group in 2016. Shell, in strategy update on Tuesday, said it planned to invest $30bn per year between 2021-25, up from a prior range of $25—30bn.

READ MORE

royaldutchshellplc.com and its 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 News 17 Jan 2019: 4 articles

Angry Dutch citizens on Thursday will ask their country’s highest court to put an immediate end to gas production in the Groningen region due to the risk of life-endangering earthquakes. read more

royaldutchshellplc.com and its 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 News 2 November 2018

royaldutchshellplc.com and its 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 News 13 October 2018

royaldutchshellplc.com and its 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.

FULL HORROR OF THE SHELL BRENT BRAVO AUDIT NOTES

…if we continue operating Bravo in its current condition a major incident involving injury or fatality, and with the potential of Impairing the TR ;s inevitable. It may take a week or a year, it doesn’t matter. it will happen. You also need to consider your position. You are clearly working under instruction from Malcolm to keep a lid on this bag of worms, you should not be confident if the worst happens that the bold Malcolm will protect you. you will be hung out to dry to protect the golden boy’s progression up the ladder.

SHELL BLOG COMMENTS ON PUBLICATION OF BRENT BRAVO JAW-DROPPING AUDIT NOTES MADE IN 1999 BEFORE THE FATALITIES OCCURRED

FROM RETIRED OIM (addressed to Bill – Bill Campbell)

Bill, now the full horror of your findings during the Expro audit have been made available via Johns’ web site I wonder what kind of reaction, if any, will be generated. In retrospect and with hindsight, publishing earlier might have sealed Brinded’s demise sooner and he would never have risen to an apparent level of “the untouchable”.

The Italians hopefully will ensure he will be disgraced never to be any where near a responsible position again. read more

royaldutchshellplc.com and its 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 News 5 Sept 2018

By Vanand Meliksetian – Sep 04, 2018, 3:00 PM CDT

Royal Dutch Shell has invested significantly in LNG with its takeover of British Gas in 2016. The acquisition of BG for more than $50 billion provided the Dutch company with a head start during a period when prices were low. Shell’s capacity in the LNG industry is nearly double compared to its nearest competitor. The company’s value currently is $53 billion less than Exxon’s, the largest oil and gas company in the world. Before the deal, the difference was more than $150 billion. FULL ARTICLE read more

royaldutchshellplc.com and its 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.

EX SHELL MAN HITS OUT AT SHELL BG GROUP MERGER

POSTING ON OUR SHELL BLOG BY “EX SHELL MAN”

exshellman: on Aug 23rd, 2018 at 11:54 

After the Shell BG merger completed in 2016 , a lot of really good people lost their jobs, it was handled terribly by the HR dept and the so called ‘General Managers’ culled some of the best experts they had …in less than a year of the redundancies Shell were struggling and now with the lack of expertise…they have had to take in contractors to fill staff positions ..within a year of the redundancies … they could be liable if people took this issue up.. Also Shell were looking at hiring back some old boy network …who are now pensioners to come back in as managers to help out with the problems ..LOL . they have so much dead wood staff on their books and the company is ran like a club. read more

royaldutchshellplc.com and its 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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