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Shell resumes gas shipments from world’s largest floating structure

“Prelude has been a ‘white elephant’…

Shell resumes gas shipments from world’s largest floating structure

The restart of the huge Prelude facility — which at 488 metres is longer than four football fields — is a welcome boost for Shell as it coincides with a record surge in LNG prices fuelled by a cold snap in Asia. But construction challenges, cost overruns and technical problems with Prelude, as well as challenging market conditions, have prompted Shell and other producers to cancel other FLNG projects. “Prelude has been a ‘white elephant’ — we always felt it was a technology looking for a solution rather than the other way round,” said Neil Beveridge, an analyst at Bernstein. read more

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Shell to lay off nearly 700 workers in Louisiana after refinery closes

Shell to lay off nearly 700 workers in Louisiana after refinery closes

Jan. 4, 2021 Updated: Jan. 4, 2021 8:46 a.m. Royal Dutch Shell will lay off 698 workers as it closes its Convent refinery in Louisiana, part of a company effort to reduce carbon emissions.

The layoffs will begin in March and be completed by the end of August when the plant closes, according to information filed with the Louisiana workforce commission last month.

“The decision is part of the company’s global strategy to invest in a core set of uniquely integrated manufacturing sites that are also strategically positioned for the transition to a low-carbon future,” the Hague-based company said in November, when it began shutting down the refinery after failing to find a buyer for it. read more

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Shell Crown Prince: ‘We must show more predictable financial results’

Translation of an article published by the Dutch financial newspaper, the FD. 

Shell Crown Prince: ‘We must show more predictable financial results’

Shell has had a bad year. The global corona pandemic left a huge hole in the financial results. The oil and gas multinational had to write off more than $20 billion on oil and gas fields and announced it would cut thousands of jobs.

Bert van Dijk 31 Dec ’20

Huibert Vigeveno is in charge of all Shell refineries and petrol stations. These will play a key role in the coming years, expects the 51-year-old Dutchman, tipped as a successor to Shell CEO Ben van Beurden. About CO₂ emissions: ‘There is often a gap between what a company promises and what it actually does. With us it is the other way around. ‘ read more

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2020 Was One of the Worst-Ever Years for Oil Write-Downs

2020 Was One of the Worst-Ever Years for Oil Write-Downs

Royal Dutch Shell’s Prelude floating facility has struggled to deliver income. PHOTO: ROYAL DUTCH SHELL AUSTRALIA/REUTERS

By Collin Eaton and Sarah McFarlane: Dec. 27, 2020 9:00 am ET

The pandemic has triggered the largest revision to the value of the oil industry’s assets in at least a decade, as companies sour on costly projects amid the prospect of low prices for years.

Oil-and-gas companies in North America and Europe wrote down roughly $145 billion combined in the first three quarters of 2020, the most for that nine-month period since at least 2010, according to a Wall Street Journal analysis. That total significantly surpassed write-downs taken over the same periods in 2015 and 2016, during the last oil bust, and is equivalent to roughly 10% of the companies’ collective market value. read more

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Shell to Provide Over One Million Pieces of PPE to U.S. Communities

Shell to Provide Over One Million Pieces of PPE to U.S. Communities

NEWS PROVIDED BY Shell Oil Company Dec 22, 2020, 09:00 ET

HOUSTONDec. 22, 2020 /PRNewswire/ — As the number of COVID-19 cases surges across the country, Shell Oil Company (Shell) has announced it will contribute more than one million pieces of PPE to communities and medical care facilities from coast to coast. Extra face shields, non-medical masks and nitrile gloves are now arriving in some of the hardest hit areas of the country. read more

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Shell’s 2020 Write Downs Could Soar To $22 Billion

Shell’s 2020 Write Downs Could Soar To $22 Billion

By Charles Kennedy – Dec 21, 2020, 3:30 PM CST

Shell warned the market on Monday that it would book up to $4.5 billion more in post-tax charges in the fourth quarter, which would take the supermajor’s combined write-downs to over $22 billion in the year in which Big Oil significantly cut the value of their oil and gas assets.

Shell expects post-tax charges of between $3.5 billion and $4.5 billion in relation to impairments, asset restructuring, and onerous contracts in the fourth quarter, the company said in its Q4 2020 update note today. The charges will include partial impairment of the Appomattox asset in the U.S. Gulf of Mexico due to subsurface updates, charges in the oil products division, including such related to the announced transformation of the refinery portfolio, as well as charges from onerous contracts in the Integrated Gas division. read more

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Shell says assets could be worth $22bn less as Covid hits oil demand

Shell says assets could be worth $22bn less as Covid hits oil demand

Extracts

The oil company ended any hopes for a brighter end to 2020 for shareholders with the announcement of another write-down. Shell blamed the move on the weaker outlook for global oil demand owing to coronavirus restrictions on travel and poor economic growth.

It also said the fourth-quarter results for its oil products division, due in early February, would be significantly lower compared with the third quarter. read more

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Shell to write down assets again, taking cuts to more than $22 billion

Shell to write down assets again, taking cuts to more than $22 billion

In October, Shell, the world’s biggest LNG trader, wrote down the value of its LNG portfolio by just under $1 billion, focusing on its flagship Prelude project in Australia.

LONDON (Reuters) – Royal Dutch Shell on Monday said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook. 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 writes down up to $4.5 billion in oil and gas assets

Shell writes down up to $4.5 billion in oil and gas assets

Royal Dutch Shell said on Monday it will write down $3.5 to $4.5 billion in the value of oil and gas assets in 2021, the latest in a string of impairments this year as it adjusts to a weaker outlook.

In an update ahead of its fourth quarter results on February 4, Shell said the post-tax charge was due in part to impairments on its Appomattox field in the U.S. Gulf of Mexico, the closure of refineries and liquefied natural gas (LNG) contracts. read more

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Shell reports 61 new cracker plant covid cases this week

Sixty-one new COVID-19 cases were reported at Beaver County’s cracker plant this week, bringing the total number since March to 335.

CHRISSY SUTTLES | BEAVER COUNTY TIMES: 12 Dec 2020

POTTER TWP. — Coronavirus cases continue to grow at Shell Chemicals’ ethane cracker plant site as COVID-19’s third wave hammers the region.

Sixty-one new virus cases were reported at Beaver County’s petrochemical complex this week, bringing the total number since March to 335. Since mid-November, total cases have tripled. read more

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Shell begins permanent shutdown of Convent, Louisiana, refinery

Shell begins permanent shutdown of Convent, Louisiana, refinery

By : DECEMBER 2, 2020

HOUSTON (Reuters) – Royal Dutch Shell Plc began the permanent shutdown of its 211,146 barrel-per-day (bpd) Convent, Louisiana refinery, the company said on Tuesday.

Sources familiar with plant operations told Reuters the permanent shutdown of the refinery, which Shell has been unable to sell as fuel demand has been hammered in the COVID-19 pandemic, began on Monday night.

“We’re engaged in a phased shutdown of Convent and (will) take all of the time necessary to safely accomplish that,” said Shell spokesman Curtis Smith in an email on Tuesday. read more

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Shell Singapore to cut 500 jobs over three years amid Pulau Bukom reorganisation

Shell Singapore to cut 500 jobs over three years amid Pulau Bukom reorganisation

UMA DEVI: [email protected]: Twitter @UmaDeviBT: TUE, NOV 10, 2020 SHELL Companies, the local subsidiary of Royal Dutch Shell, is set to cut 500 jobs or about 38 per cent of its local workforce over the next three years as the group makes changes to its largest refinery, on Pulau Bukom.

A Shell spokesperson told The Business Times that the company will go from 1,300 staff to approximately 1,100 by the end of 2021, and down further to some 800 employees by the end of 2023.

The earliest staff movement related to the reorganisation will take place in the fourth quarter of 2021, added the spokesperson.

In a statement on Tuesday, Shell said Pulau Bukom will pivot from a crude-oil, fuels-based product slate towards new, low-carbon value chains. This is the company’s latest step towards its overarching ambition to be a net-zero emissions energy business by 2050. read more

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Will Shell’s share price ever recover?

Will Shell’s share price ever recover?

Edward Sheldon, CFA: ·

It’s fair to say 2020 has been a challenging year for Royal Dutch Shell (LSE: RDSB) investors. As a result of Covid-19, and the subsequent drop in demand for oil, Shell’s share price has plummeted. Year to date, shares in the FTSE 100 oil major are down about 50%.

Can Shell’s share price recover? I think it’s possible. That said, there are a few things that need to happen for the FTSE 100 oil stock to rebound. read more

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About 1,100 workers at Convent oil refinery will be seeking new jobs 

Shutdown of Shell refinery in Convent: Negotiations for job transfers and severance begin

By the end of 2022, Shell told investors it wants to cut up to 9,000 jobs in a corporate restructuring to save roughly $2.5 billion. It had 83,000 employees worldwide as of December 2019. So far, only 1,500 workers agreed to voluntary buyouts…

About 1,100 workers at the Convent oil refinery, a combination of company and contract workers ranging from plant operators to maintenance crews, will be looking for new jobs as rolling layoffs are expected in the coming months, but only about one-third of those workers are unionized. read more

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Shell Convent, LA, refinery will close amid to pandemic

Shell Convent, LA, refinery will close amid to pandemic

by Laura Sanicola: NOVEMBER 5, 2020

(Reuters) – Royal Dutch Shell RDSa.L said on Thursday it will shut down its refinery in Convent, Louisiana, the largest U.S. facility to close since the coronavirus pandemic first hit and devastated economic demand worldwide.

The shutdown, to occur this month, comes after Shell failed to find a buyer.

The refinery is the ninth in North America either to announce a shutdown or to be idled since the pandemic, which has delivered a heavy blow to fuel demand globally. The United States is the world’s largest fuel consumer. read more

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Shell’s climate change debacle on social media

WHAT SHELL’S CLIMATE CHANGE VP POSTED ON LINKEDIN

By John Donovan

As is plain from recently published news articles, Shell’s use of social media to initiate a discussion about climate change has spectacularly backfired.

The fall out is not limited to Twitter, Facebook and YouTube.

This morning, I spotted the following postings on linkedin.com by Shell’s Climate Change VP John MacArthur

John MacArthur• 3rd+Climate & Sustainability Leader ★ Fellow of the Royal Academy of Engineering ★ Chairman OGCI Climate Investments ★ Executive Coach1 day ago Even though the world is going through uncertain times, we know there is an urgent need to tackle climate change. That’s why, at Shell, our ambition is to be a net-zero emissions energy business by 2050, or sooner. We aim to meet our customers’ demand for cleaner energy, keeping in pace with society. #MakeTheFuture#climatechange#netzero2050

GREENWASHING?

So Shell will get out of the primary energy business? Please explain how the world will solve the energy needs over the next 30 years. Eliminating about 12000 mtoe to zero in about 12000 days means 1 nuclear installation per day or 1500 windmills. We need to stop burning fossil and save it for useful stuff. But to reorganise the world in 10 or 30 years just is not possible. With a concerted effort by the world leaders (when was the last time this was achieved?) it will take 2-3 generations and great care is to be taken not to send the poorest 30% of the population into even more dire circumstances. Fortunately we have the time as there is sufficient fossil fuel around. In the meantime I vote your statement as a greenwashing marketing one. But I wish you a fine day and look forward to your explanation!

read more

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