News and information on Royal Dutch Shell Plc
Shell Sells Non-Core Canadian Shale Assets to Crescent Point Energy
CALGARY, AB, Feb. 17, 2021 /CNW/ – Royal Dutch Shell plc, through its affiliate Shell Canada Energy (“Shell”), has reached an agreement with publicly listed Canadian energy company Crescent Point Energy Corp. (“Crescent Point”) to sell its Duvernay shale light oil position in Alberta, Canada for a total consideration of US$707 million (C$900 million). The transaction has an effective date of January 1, 2021.
Big Oil’s future could be smaller than its past
Paul Takahashi, . 6, 2021
Oil companies have crisscrossed the world for more than a century, drilling on nearly every continent and in ever deeper oceans to prospect for fossil fuels that power the global economy.
While they did, the biggest six or seven companies collectively known as Big Oil reshaped international politics and economies, bending them to their will. Oil executives became statesmen in their own right, negotiating deals with foreign leaders to extract oil from the tar sands of Canada, the deserts of the Middle East, off the coasts of South America and Africa and in the shale formations of the U.S.
SHELL TAKES 40% STAKE IN MONTREAL WASTE-TO-CHEMICALS PLANT
By Mary Page Bailey |
The approximately C$875 million commercial-scale facility will be constructed in Varennes, Québec, and will produce low-carbon fuels and renewable chemicals products from non-recyclable waste using Enerkem’s proprietary technology. Commissioning of the first phase of the facility is scheduled for 2023. Critical investment in the plant comes from Shell, Enerkem, Suncor, Proman and Hydro-Québec, as well as from the Québec and Canadian governments.
Shell to close Singapore base oil unit in 2022
Published date: 23 December 2020
Shell plans to close the Group I base oil unit at its 500,000 b/d Pulau Bukom refinery in Singapore amid moves to scale back its fuel-based product slate at the plant.
The company said last month it planned to cut around 250,000 b/d of refining capacity in Singapore as part of its shift to lower-carbon alternatives.
It also plans to close the 380,000 t/yr base oil unit at the refinery from July 2022.
The shutdown would come just a year after the closure of Galp’s 110,000 b/d Porto refinery in Portugal next year. Galp announced that plan earlier this week. The refinery is home to a 185,000 t/yr Group I base oil unit.
Michael Crothers (CNW Group/Shell Canada Limited)
By John Donovan
Printed below is a press release announcing the retirement of Michael Crothers as Shell Canada Country Chair and the appointment of his successor, Susannah Pierce.
In August 2013, The Observer newspaper and Guardian Online published an article “Strange tale of Shell’s pipeline battle, the Gardaí and £30,000 of booze”
On the instructions of Shell E&P Ireland, an Irish Company called OSSL distributed bribes to the Irish Police and other parties in an attempt to smooth the path of the highly controversial Corrib Gas Project in Ireland.
New York Becomes The First State To Divest From Oil And Gas
The Empire State’s pension fund is the largest to dump fossil fuel investments ― ever, in the entire world.
New York state announced plans on Wednesday to eject oil and gas stocks from its $226 billion financial portfolio, becoming the first U.S. state and the biggest pension fund anywhere to divest from fossil fuels.
By 2025, the New York State Common Retirement Fund, which disburses some $1 billion in benefits to retirees each year, will sell off its “riskiest” oil and gas stocks, following a review. The state aims to completely eliminate carbon polluters from its portfolio by 2040.
Royal Dutch Shell: Energy Transition Woes
Michael Boyd: Energy Income Authority: Oct 8, 2020 High-quality income and growth plays in the energy space. SummaryI often get asked why I don’t cover the supermajors all that often on Seeking Alpha. The answer comes down to a rather simple reality: time invested versus potential gain. Anyone that has followed my long / short book knows that whatever I take a stake in, I know inside out. Quite frankly, the sprawling operations of most majors coupled with competing against institutionals that have enough research analysts on the payroll to pack a local gymnasium makes it a losing proposition – or at least in my view.
The international oil giant will cut about 40pc of overheads including staff…
Shell cuts back on fracking to fund renewable energy drive
The oil giant is seeking to free up investment for early-stage carbon capture and hydrogen projects
Falling oil and gas prices due to the pandemic have taken the shine off many assets and triggered heavy write-downs.
Shell is making deep cuts in its fracking business as it tries to free up cash to cope with the pandemic and invest in renewable energy.
Malabu Oil Deal: Canadian judge dismisses suit challenging Nigeria’s grounding of Etete’s jet
A Canadian judge on Thursday dismissed an application seeking leave to appeal the judgement that confirmed the grounding of a luxury private jet purchased by a former Nigerian oil minister, Dan Etete, with some of the alleged proceeds of the controversial $1.3 billion Malabu OPL245 oil deal.
The suit was filed before the court by Tibit Limited, an anonymously owned company incorporated in the British Virgin Islands (BVI), claiming ownership of the jet.
Shell Explores Sale of a Norwegian Natural Gas Business
Its shares are down 48% this year, giving the company a market value of around $115 billion.
Aaron Kirchfeld, Dinesh Nair and Laura Hurst: Bloomberg
(Bloomberg) — Royal Dutch Shell Plc said it’s considering a sale of a Norwegian natural gas supplier, as the energy major continues to selectively dispose of assets.
The company is exploring a disposal of its Gasnor unit, a spokesperson confirmed in response to Bloomberg queries. Shell has approached infrastructure funds and private equity firms about a deal, people with knowledge of the matter said, asking not to be identified as discussions are private.
By Alex Kimani – Aug 17, 2020, 7:00 PM CDT
Booms and bust cycles are very much a part of investing in the fossil fuel sector. In previous energy downturns, prices frequently experienced serious slumps, but oil and gas companies mostly kept faith in their biggest asset: Oil and gas reserves buried deep in the ground. But things are markedly different this time around.
Faced with pandemic-driven demand destruction and a relentless call for climate-conscious and ethical investing, oil executives are resigning themselves to the uncomfortable fact that a significant amount of their vast oil and gas reserves will end up totally worthless.
Aust 11, 2020
Employee fired for discussions with subordinate on conflict of interest and investigation, but conduct didn’t breach policies: Alberta court
A former Shell executive has won $800,000 after the oil company wrongfully dismissed her on trumped-up charges of breaching its conflict-of-interest policy and investigation processes.
EXCLUSIVE: Malabu Scandal: Nigeria grounds Dan Etete’s $57million jet in Canada
Nigeria has tracked down and grounded the luxury private jet purchased by its former oil minister, Dan Etete, with some of the alleged proceeds of the notorious $1.3 billion Malabu OPL245 oil deal.
Asset recovery lawyers acting for the Nigerian government swooped last week after the Bombardier 6000 jet, tail number M-MYNA, touched down at Montréal-Trudeau International Airport in Canada on Friday evening (29 May).
Shell, Total and Equinor give green light to major international CO₂ storage project
Bert van DijkShell, together with the French oil and gas group Total and the Norwegian Equinor, has made a final investment decision for a large CO₂ storage project in Norway. The companies want to build infrastructure to transport captured CO₂ from industrial factories in Europe to Norway and store them there in a reservoir under the bottom of the North Sea.
Equinor will lead the project, which will store 1.5 million tons of CO₂ annually. The parties announced this on Friday. It is one of the largest CO₂ storage projects in the world.
According to Shell Canada, free beverages and sandwiches are being offered to every healthcare professional that visits any of the 450 participating Shell service stations across Canada.
Locally, the Shell service stations in Fort St. John, on 100 Street and 96A Street, and in Dawson Creek, on 8th Street, will be taking part in the offer.
Shell says healthcare professionals include EMT staff, nurses and doctors, and can be identified by a uniform or badge, and each personnel will be limited to one offer per visit.
There’s a ton of awesome food and beverage promotions happening across the country for our local superheroes (AKA frontline medical staff).
One more recent deal comes to us from Shell, as the company announced it’s currently offering free sandwiches and drinks to healthcare professionals at participating gas stations across Canada.
All the frontline medical staff need to do is show their healthcare ID at participating stores, and the deal is done.
This offer is valid for a pre-packaged sandwich or other eligible sandwiches such as deli2go, and a hot beverage which includes all sizes of coffee, tea, and/or hot cappuccino. The promo is limited to one per visit per healthcare provider.
In BC, Shell will also be providing a free Nestle 591ml bottle of water to every healthcare professional.
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: It's all in the ground Simon! https://www.wsj.com/amp/articles/shell-exxon-look-to-profit-from-capturing-customers-carbon-emissions-11618824602
: ON HOW TO REVAMP NIGERIA’S UPSTREAM AND DOWNSTREAM OIL & GAS SECTOR With recent reports that the President Muhammadu Buhari-led Federal Executive Council (FEC) had approved a whopping $1.5 billion to rehabilitate the epileptic Port Harcourt refinery, I consider it a national tragedy and a shame of a nation that Nigeria, despite its over fifty decades of oil and gas exploration and production activities, has been exporting its hugely produced crude oil and natural gas at commercial quantity, and then import ‘refined petroleum products’ at higher costs to satisfy domestic demands. The said move, according to the government, is to ensure that the obsolete Port-Harcourt refinery, which last benefitted from a Turn-Around Maintenance (TAM) work in 2000, comes back to life, while also supposedly contributing to the development of Nigeria’s oil sector. We Mobilize Others To Fight For Individual Causes As If Those Were Our Causes https://ndpc-zik.org/publications/on-who-to-revamp-nigeria-upstream-and-downstream-oil-and-gas-sector COMPLETE COMMENTS
: "Under the Hammer", again!https://www.reuters.com/article/us-tunisia-oil/tunisia-faces-exodus-of-western-oil-giants-idUSKBN2BI1XF
: Serica finally kicks-off development on Columbus, years after BG 'kicked them in the teeth'. https://www.upstreamonline.com/field-development/serica-energy-kicks-off-development-drilling-at-north-sea-field/2-1-982427
: https://www.egypttoday.com/Article/3/48093/Shell-to-develop-Phase-9B-of-WDDM-within-2-months
: I have mentioned before how the contaminated produced water from Shell's Western Delta Deep Marine gas fields, acquired during the takeover of BG Group, used to be tankered and dumped in the desert.Khaled Gad, Shell's Onshore and Offshore Asset Manager in Egypt, should be able to answer the question as to what now happens to the produced water from Shell's assets in Egypt.
: Selling off parts of the BG millstone. See: https://www.upstreamonline.com/lng/shell-completes-2-5bn-australian-lng-asset-sale/2-1-980042
: Further to Bogus Group's post, very little at BG Group was proven. The majority of their work was of low integrity and dissolved at the slightest scrutiny. This was to be expected with a 'do as I say, not do as I do' Line Management.
: https://trinidadexpress.com/business/local/shell-takes-biggest-hit/article_ca33aea4-73d5-11eb-8a6e-ff41b564d669.html It's surely been proven that BG proven reserves were not actually proven and that Shell did inherit a 'pig in the poke'. The statement “Our preference is to deal with these arrangements, not in a clandestine way but there is a deeper confidentiality to it. We have these arrangements all over the world. We need to ensure that we maintain a degree of confidentiality but what I will confirm is that hundreds of millions of US dollars converts to billions of TT dollars and we have confirmed that Trinidad will benefit to billions,”beggars belief.
: It is not clear why the once upon a time VP Developments, Brazil is now VP Subsurface Excellence, given that the Brazil Asset under her stewardship spent at least five years down a giant rabbit hole using a corrupt workflow that resulted in a significant overbooking of reserves.
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