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Shell Has Best Shale Strategy Of All Oil Majors

Summary

*While Chevron, Exxon, Occidental and other oil majors are eagerly ramping up shale acquisitions and production, Shell has been more reserved in this regard.

*Shale resources may help companies improve on upstream production volumes and reserves, but profitability is questionable, leading to potentially net negative trade-off for investors.

*The ethane plant in Pennsylvania is an example of Shell wisely making use of lower natural gas prices, rather than being on the upstream side, losing money.

Much has been made lately of the deep dive into shale that the likes of oil majors such as Chevron (NYSE:CVX) and Exxon (NYSE:XOM) decided to take in the past few years. A fight over Anadarko (NYSE:APC) between Chevron and Occidental (NYSE:OXY) was perhaps the most emblematic symbol of this industry-changing trend. Analysts and investors quickly jumped to the conclusion that it is imperative for all oil majors to jump in and compete with each other on acquiring and developing shale assets. Exxon and Chevron are currently planning to increase shale production to 1 mb/d each. Shell (NYSE:RDS.A) (NYSE:RDS.B) has been more timid in this regard, and given the profitability profile of the overall shale industry, I am fully satisfied with its position in this regard. Shell’s downstream investments, such as the Pennsylvania ethane plant, meant to take advantage of low shale prices, seems to make far more sense than rushing to produce the low-priced natural gas. Nor does it seem all that wise to rush to produce shale oil, which requires extremely high capital expenses to produce. Some investors may believe that it is more important to maintain reserves and production by diving into the shale patch. I personally think that it is not worth diluting Shell’s overall profitability profile by producing shale oil and gas for the sake of maintaining the company’s overall production numbers. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Zacks: Groningen Gas Field to be Phased Out 8 Years Before Schedule

Zacks Equity Research: September 11, 2019

The government of the Netherlands recently stated that gas production from the Groningen field, once biggest in Europe, will be gradually phased out by mid-2022 (eight years earlier than planned) to lower the risk and damages from the earthquakes caused by drilling. Nederlandse Aardolie Maatschappij BV or NAM, a joint venture between Royal Dutch Shell PLC RDS.A and Exxon Mobil Corporation XOM is the operator of the field.

Earlier-than-planned halt of the Groningen gas field resulted from the frequently felt earth tremors with 3.4 magnitude earthquakes hitting the region in January 2018 as well as earlier in 2019, thereby coercing a dip in the extraction levels and a vow by the government to stop production as early as possible. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Saying goodbye to Groningen gas much faster than expected

The anger among Groningers was great after two earthquakes last spring. It fueled the fear of new cracks and subsidence, while in some cases the old damage was not even repaired by the syrupy claim settlement and reinforcement operation.

Printed below is an English translation of an article published 10 Sept 2019 by the Dutch FT, Financieele Dagblad. NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

Saying goodbye to Groningen gas much faster than expected

Bas Knoop In short

The cabinet wants to stop gas extraction in Groningen much faster than planned. Not in 2030, but already in 2022.

Next year gas extraction will fall to 11.8 billion cubic meters, just below the ‘safe’ level of 12 billion cubic meters.

In order to accelerate the gas extraction, nitrogen is added to imported high-calorific gas. Nine large industrial users are no longer allowed to use Groningen gas from October 2022.

Due to the lower gas extraction, the natural gas revenues for the cabinet will fall by €400 million next year. A new gas deal with Shell and ExxonMobil is being prepared. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Netherlands to halt Shell/Exxon Groningen gas production by 2022

Bart H. Meijer: SEPTEMBER 10, 2019

* Gas production at Groningen field to end by 2022

* To end 8 years earlier than initially planned

* Groningen production capped at 11.8 bcm in 2019/2020

* To be kept operational until 2026 at latest in case of exceptional demand (Adds detail)

By Bart H. Meij

er

AMSTERDAM, Sept 10 (Reuters) – The Netherlands will halt production at Groningen, Europe’s largest onshore natural gas field, by 2022, eight years earlier than initially planned, the Dutch government said on Tuesday. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Reuters: Big Oil undermines U.N. climate goals with $50 billion of new projects: report

Reporting by Ron Bousso, additional reporting by Jennifer Hiller in Houston; Editing by Susan Fenton and Louise Heavens: Sept 6, 2019

LONDON (Reuters) – Major oil companies have approved $50 billion of projects since last year that will not be economically viable if governments implement the Paris Agreement on climate change, think-tank Carbon Tracker said in a report published on Friday.

The analysis found that investment plans by Royal Dutch Shell (RDSa.L), BP (BP.L) and ExxonMobil (XOM.N) among other companies will not be compatible with the 2015 Paris Agreement, which aims to limit global warming to 1.5 degrees Celsius. read more

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Petrochemical giant Shell exploring options to reduce ground flaring at Mossmorran

Shell is in “commercially sensitive” talks to find a solution to continuous flaring at its Mossmorran plant.

The petrochemical giant, which operates Fife Natural Gas Liquids (NGL) Plant alongside Fife Ethylene Plant (FEP), run by ExxonMobil, said it is trying to stem a flow of ethane which needs to be burned off by ground flares at the site.

Since the failure of two of its three boilers in mid-August, the ExxonMobil plant has been shut down. However, the Shell plant is still running.

Shell’s Fife NGL Plant produces hydrocarbons for industry including ethane, which is piped to FEP to be processed. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Danish pension fund dumps oil majors on climate change concerns

The $20 billion fund says oil companies including ExxonMobil and Royal Dutch Shell are not doing enough to meet goals set out in the Paris Agreement. But the fund has ruled out a blanket ban on fossil fuel companies.

5 Sept 2019

A Danish pension fund has said it would sell its stake in major oil companies as their business models are incompatible with the goals set out in the Paris climate agreement.

MP Pension, a $20 billion (€18 billion) pension for Danish M.A’s, M.Sc.’s and Ph.D’s who are employed in public sector universities and upper secondary schools, said it would dump its stakes in 10 of the world’s largest oil companies, including ExxonMobil, BP, Chevron, PetroChina, Rosneft and Royal Dutch Shell. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

REUTERS: Exxon, Shell cannot revive $1.8 billion Nigerian arbitration award – U.S. judge

Exxon, Shell cannot revive $1.8 billion Nigerian arbitration award – U.S. judge

5 Sept 2019

By Jonathan Stempel

NEWYORK (Reuters) – A U.S. judge on Wednesday rejected Exxon Mobil Corp’s <XOM.N> and Royal Dutch Shell Plc’s <RDSa.L> effort to revive a $1.8 billion arbitration award against Nigeria’s state-run oil company, which stemmed from a dispute over a 1993 contract to extract oil near the African country’s coastline.

U.S. District Judge William Pauley in Manhattan cited public policy and due process considerations in deciding not to enforce the October 2011 award against Nigerian National Petroleum Corp (NNPC), which was subsequently set aside by courts in Nigeria. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell’s woeful August risks run as  2nd-largest oil major

Shell had it worst. Its B shares in London have plunged more than 12% last month, a decline not seen since the 2008 financial crisis, which has knocked almost £26bn ($32bn) off its market value. That’s put chief executive officer Ben van Beurden’s dream of being No 1 in the industry by every measure even further out of reach. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Reuters: Dutch to end Groningen gas production quicker than predicted -minister

AMSTERDAM, Aug 27 (Reuters) – The Dutch government will end production at the vast Groningen natural gas field sooner than previously announced, Dutch Economy Minister Eric Wiebes said on Tuesday.

“I expect the Groningen field to no longer be necessary very soon”, Wiebes said in an interview on Dutch public radio.

“Things are moving very fast, a lot faster than anyone would have predicted some time ago.”

Output at Europe’s largest onshore gas field, operated by Royal Dutch Shell Plc and Exxon Mobil Corp, has been slashed in recent years as tremors blamed on drilling have damaged buildings and sparked unrest in the region. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Bloomberg: Big Money Starts to Dump Stocks That Pose Climate Risks

Climate-Action 100+, a group of money managers overseeing more than $33 trillion, works to influence the largest corporate emitters of greenhouse gases. So far the organization has persuaded Royal Dutch Shell Plc to set short-term climate targets and publish a report on its lobbying of governments.

Bloomberg: Big Money Starts to Dump Stocks That Pose Climate Risks

After years of meetings and shareholder resolutions, some funds are starting to simply divest from coal and oil stocks.

By Kelly Gilblom: 7 August 2019, 05:01 BST

Earlier this year, one of Meryam Omi’s deputies at Legal & General Investment Management sat down with board members and managers from Exxon Mobil Corp. to discuss how the oil giant could address climate change. LGIM, which manages about $1.3 trillion, is one of Exxon’s top 20 shareholders.

The Exxon delegation listened, but it didn’t accept the suggestions, says Omi, LGIM’s head of sustainability and responsible investment strategy. Around the same time, Exxon persuaded the U.S. Securities and Exchange Commission to block a shareholder resolution that pushed the oil giant to do more to address climate risks. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

After Being Harassed And Pushed Out Of A Shell Oil Refinery, This Woman Pushed Back

Ciara Newton had her dream job at a Shell refinery. But she was fired after enduring months of harassment, including sexist comments from supervisors and a lewd sticker.

Zahra Hirji: BuzzFeed News Reporter: Reporting From Oakland, California
Last updated on August 6, 2019, at 1:14 p.m. ET
Posted on August 6, 2019, at 8:30 a.m. ET

OAKLAND, California — She walked toward the witness stand at eight months pregnant, her slow steps echoing in the cavernous federal courtroom.

Two years earlier, she had been fired from her dream job at a Shell refinery after enduring months of harassment — sexist comments from two male supervisors, reprimands for documenting her coworkers’ mistakes, a lewd sticker on her desk. She got the termination notice just days before the end of her job’s nine-month probation period. The fallout was devastating. She lost the loan needed to buy her recently widowed mother’s house, spiraled into depression and anxiety, and ended up working at an airline two hours from her home for half the pay. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell’s profits slump to 30-month low on weak oil, gas prices

Shell’s profits slump to 30-month low on weak oil, gas prices

Ron Bousso: AUGUST 1, 2019 / 7:33 AM

LONDON (Reuters) – Royal Dutch Shell’s second quarter profits slumped to a 30-month low due to lower oil and natural gas prices and refining margins, falling far short of forecasts.

The Anglo-Dutch company reported on Thursday a rise in cash generation – a sign of improving operations – but the drop in profit dents a steady recovery since the end of 2016.

Shell, the world’s second-largest publicly-traded energy company, joins rivals Total and Norway’s Equinor in reporting weak results for the quarter. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Greta Thunberg welcomes oil chief’s ‘greatest threat’ label

The criticism of striking students by the trillion-dollar Organization of the Petroleum Exporting Countries (Opec) highlights the growing reputational concerns of oil companies as public protests intensify along with extreme weather. Mohammed Barkindo, the secretary general of Opec, said there was a growing mass mobilisation of world opinion against oil, which was “beginning to … dictate policies and corporate decisions, including investment in the industry”. READ MORE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Dutch advisory body wants more info on Groningen closure

The government decided to cut production after residents blamed hydraulic fracturing for damage to buildings in the area. It was decided earlier to schedule the field’s closing for 2030 while progressively reducing production, after a 3.4 magnitude earthquake occurred near the field last year. The field is operated by Nam, a joint venture established by oil supermajors Royal Dutch Shell and ExxonMobil.

July 5, 2019

Dutch advisory body Council of State’s Administrative Jurisdiction Division (Adj) Wednesday requested from the government further explanation for the closing of a major onshore field, Kallanish Energy learns.

The Groningen field is the largest in Europe. The government decided to cut production after residents blamed hydraulic fracturing for damage to buildings in the area.

It was decided earlier to schedule the field’s closing for 2030 while progressively reducing production, after a 3.4 magnitude earthquake occurred near the field last year. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Fossil Fuel Industry Is Quietly Undermining Global Climate Talks

Fossil fuel industry giants such as ExxonMobil and Royal Dutch Shell are maintaining an outsized presence at global climate discussions, working to undermine scientific consensus and slow policy progress, according to findings released Wednesday…

Delegates from major oil companies have influenced international accords for decades.

By Luke McGrath: 24 June 2019, 10:00 BST

Fossil fuel industry giants such as ExxonMobil and Royal Dutch Shell are maintaining an outsized presence at global climate discussions, working to undermine scientific consensus and slow policy progress, according to findings released Wednesday by an environmental monitoring organization.

The Climate Investigations Center (CIC) report claims that fossil fuel trade associations have sent more than 6,400 delegates to climate talks since 1995, including delegates from Shell, BP and ExxonMobil. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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