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Shell writes off Groningen gas field on Dutch phase-out

Reuters Staff: APRIL 26, 2018 / 4:02 PM

LONDON (Reuters) – Royal Dutch Shell said on Thursday it would write down its reserves in the Groningen gas field, one of Europe’s largest, following the Dutch government’s decision to phase out production by 2030.

The Anglo-Dutch company holds a 50 percent stake in the field, which has seen production reduced in recent years following a series of damaging earthquakes. 

Shell said it expects to write off an estimated 0.5 to 0.65 billion barrels of oil equivalent in 2018. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

NAM carries out Japan lab experiment to measure earthquake impact on Groningen homes

Printed below is an English translation of information published on 18 April by Nederlandse Aardolie Maatschappij BV (NAM), a joint venture between Royal Dutch Shell and ExxonMobil each owning a 50% share in the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

Experiment with Groningen earthquake in Japan

2018-04-18

In Japan, an earthquake is imitated in the week of 7-11 May in the laboratory of NIED, the National Research Institute for Earth Science and Disaster Resilience. It is a large-scale scientific experiment of NAM with pulvarised rock, which has the same composition as the underground of the Groningen gas field.

Four men prepare the experiment in the Japanese laboratory of NIED

The experiment takes place in Tsukuba Science City, the science city about 50 kilometers northeast of Tokyo. Prof. dr. Chris Spiers of the University of Utrecht is in charge. Spiers is an authority in the field of laboratory experiments into compaction and earthquakes. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Groningen Earthquakes: Dutch Minister Wiebes discusses ‘other financial arrangements’ with Shell and Exxon

Wiebes discusses ‘other financial arrangements’ with Shell and Exxon

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

Because 300 billion to 500 billion cubic meters of gas will remain unproduced, this will result in a value destruction of € 50 billion to € 125 billion…

Louis Hoeks Carel Grol • Entrepreneurship

The endgame for gas extraction in Groningen has been deployed. After more than half a century of gas extraction, you need very different roles, very different agreements and also very different financial arrangements. We are all looking at that in connection with each other, ‘said Minister Eric Wiebes of Economic Affairs and Climate on Friday after the Council of Ministers.

Two weeks ago Wiebes announced that at the end of the next decade gas production in Groningen must be completely over. That was not a financial consideration, but it was about safety, according to the minister. He also said that it would be ‘up to me to ensure that there is no claim for the gas that is not won’. That could be a billion bill, since NAM has invested a lot and there are billions of gas left behind in the ground. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

SHELL, EXXON WANTS COMPENSATION FROM DUTCH GOV’T FOR GRONINGEN GAS LEFT UN-EXTRACTED: REPORT

Milieudefensie and Groningen residents dump fracking earthquake rubble in front of the Ministry of Economic Affairs in The Hague, 26 Oct 2017. Photo: @milieudefensie / Twitter

Shell and Exxon wants the government to pay them billions of euros in compensation for the gas that will not be extracted from Groningen now that the government is g, NOS reports. Groningen faces multiple earthquakes a year due to gas extraction in the province. The earthquakes leave homes and infrastructure damaged, and Groningen residents feeling unsafe. Following an  early this year, the state supervision on mines SodM called on the government to. The government gave heed. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell takes its turn in the climate change spotlight

Photo: Michael Macor, Staff / The Chronicle

What did you know and when did you know it? Those are the questions increasingly directed at Big Oil as concerns about global warming, rising sea levels and climate change grow. For a few years now, Exxon Mobil has faced a bombardment of allegations — which the Texas oil company denies — that it knew about climate change related to fossil fuels in the 1970s and buried the evidence. State investigations in New York and Massachusetts continue to focus on whether Exxon Mobil misled the public and the company’s investors. Now Exxon’s European counterpart, Royal Dutch Shell, is facing similar allegations that it was aware of the impact of fossil fuels on climate decades ago, but continued to produce and sell petroleum products. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell’s Climate Push Fails to Cut Emissions

Royal Dutch Shell Plc is demonstrating how tough it is for a massive, 100-year-old oil company to become a friend to the climate.

Shell’s greenhouse-gas emissions rose last year to the highest since 2014, it said Monday. The increase shows the challenge facing Chief Executive Officer Ben van Beurden as his company grows to meet burgeoning energy demand while investors demand a clear path toward a low-carbon future. 

“As living standards rise, energy demand could double over the course of the century,” Van Beurden said in Shell’s sustainability report. “The world is going to have to make meeting this demand part of the approach to cutting emissions.”  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

New Document Suggests Shell Knew About Climate Change 30 Years Ago

An internal Shell report from 1988 has revealed the supermajor was aware of the effect of its business on climate. The report, uncovered by Dutch journalist Jelmer Mommers from the De Correspondent news platform, has been published in the Climate Files and might just make life that much more difficult for the Anglo-Dutch company.

The document is an in-depth study of what was at the time called global warming with references to an earlier study and suggestions that the company was interested in researching climate change at least since 1981. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Earthquake damage: Groningen Gas production goes to zero

Printed below is an English translation of an article published on 29 March 2018 by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

‘A continuous gas extraction, flanked by a massive compensation, repair and reinforcement operation, is therefore not a sustainable situation’

Groningen Gas production goes to zero

Louis Hoeks Carel Grol • Economics & Politics: 29 March

The Netherlands is going to phase out gas production in Groningen, with a ceiling of 12 billion cubic meters per year as an intermediate step. The goal must be achieved by 2030 at the latest. That is what Prime Minister Rutte said on Thursday after the Council of Ministers.

Minister Eric Wiebes of Economic Affairs and Climate spoke in an explanation of ‘a turning point’. ‘It is technically possible to exhaust the gas bubble, but not socially acceptable. I fought for the Groningers. “

Uncertainty among residents

Groninger gas remains in the ground, says Wiebes. He estimates that 85 to 90% has been won by the time the extraction has stopped. The minister does not want to discuss the costs. According to him, this is due to minister Hoekstra van Financiën, who will report more about it in the Spring Memorandum. “This is not a day to talk about money,” says Wiebes. ‘The decision is not based on financial considerations, but on safety and security of supply.’ read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

NAM Groningen earthquakes creating avalanche of damage repair work

And employment in Groningen? ‘At the moment, a lot of extra people are working in the construction and installation sector for the damage repair’, says Luman. ‘This will continue to be the case in the near future.’

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele DagbladRoyal Dutch Shell and ExxonMobil each own a 50% share in NAM, the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

Gas never became Limburg coal for Groningen

Carel Grol • Entrepreneurship

Natural gas in Groningen is declining. Production is falling, as is employment. At the end of the next decade, the gas crane must be completely closed by order of The Hague. That will be quite noiseless in Groningen.

The Dutch Petroleum Company (NAM) came Thursday with a summary response to the government’s decision. ‘NAM is making preparations in its business operations for lower production in the coming gas years,’ said the company, which is 50% owned by Shell and 50% by Exxon. And yes, NAM realizes that gas extraction has ‘brought a lot of prosperity, but also has a downside’. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

After closing the NAM Groningen gas tap, a trajectory full of obstacles follows

Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad.

The whole process was given a new dynamic by the earthquake in Zeerijp on 8 January.

After closing the gas tap a trajectory full of obstacles follows

Louis Hoeks, Carel Grol • Economics & Politics

With seven-mile boots, Eric Wiebes steps through the Groninger gas file, culminating in the Cabinet decision that was made public on Thursday. By 2030, seven decades after the discovery of the first Groningen gas at Slochteren, the gas tap will close. ‘A turning point’, the Minister of Economic Affairs and Climate said correctly. “Historically,” MPs said, also from the opposition. Friend and foe were surprised by it. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Netherlands outlines plan to stop Groningen gas production by 2030

|By: , SA News Editor

The Dutch government says it will phase out gas production at the Groningen field by 2030 as part of efforts to reduce the danger caused by small but damaging earthquakes.

Production is set for 21.6B cm this year, already down from a peak of 53.8B cm in 2013, and is planned to fall to below 20B cm for the production year beginning October 2018 and to below 17.5B cm for the 2019 year, assuming average temperatures, then to 12B cm in the coming 4-5 years and to zero at the end of the 2020s. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Oil’s Seven Sisters Enter a ‘Golden Age’, Goldman Sachs Says

The world’s largest oil companies have survived a life-changing crisis, and are now poised to reap the rewards, Goldman Sachs Group Inc. said. Big Oil is in a sweet spot with rising oil prices and low operating costs, leaving them with the biggest cash-flow growth in two decades and boosting earnings, Goldman said in a report Monday. That will increase their attraction for investors after years of elevated spending followed by crude’s slump sent their weighting in global equity indexes to a 50-year low, according to the bank. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

In court, Big Oil rejected climate denial

In a California court case this week, Judge William Alsup asked the two sides to provide him a climate science tutorial. The plaintiffs are the coastal cities of San Francisco and Oakland. They’re suing five major oil companies (Chevron, ExxonMobil, Shell, ConocoPhillipsand BP) to pay for the cities’ costs to cope with the sea level rise caused by global warming. FULL ARTICLE

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell to sell West Qurna 1 oilfield stake to Japan’s Itochu for $406 million

 Reuters Staff: MARCH 23, 2018

(Reuters) – Oil major Royal Dutch Shell on Friday agreed to sell its entire stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu Corp for $406 million. The deal comes shortly after the Anglo-Dutch company agreed to exit the Majnoon oilfield, one of the largest fields in OPEC member Iraq, and hand over its operation to state-run Basra Oil Co (BOC) by end-June. Shell EP Middle East Holdings B.V. will sell the entire share capital of Shell Iraq B.V. (SIBV), which holds a 19.6 percent stake in the oilfield to a unit of Itochu, the Anglo Dutch company said. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

NAM places GPS antennas in Groningen gas field area to monitor earthquakes

Printed below is an English translation of information published today by Nederlandse Aardolie Maatschappij BV (NAM), a joint venture between Royal Dutch Shell and ExxonMobil each owning a 50% share in the company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions in damages to effected residences.

NAM will install 30 GPS antennas in the coming weeks and around the Groningen gas field. The soil subsidence of the Groningen gas field is monitored with the GPS antennas. The measurement data are used for the risk studies in the context of the earthquakes.
 
Measurements at one location make it possible to immediately compare soil subsidence results. Possible measurement differences are discussed with, among other things, State Supervision of Mines (SSM).
 
Placing the GPS antennas is part of the measurements made in the framework of the so-called Study and Data Acquisition Plan of NAM, part of the 2016 Winningsplan.
 
The GPS units are placed wherever possible within the enclosure of existing mining sites. The units must operate without being affected by vibrations, such as caused by local traffic.
 
Read more on NAM.nl for more information about placing the 30 GPS antennas. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan

U.S. judge to question Big Oil on climate change

David Levine: 21 MARCH 2018

SAN FRANCISCO (Reuters) – Five of the world’s biggest energy producers will be questioned by a federal judge on Wednesday about climate change science, part of a lawsuit that accuses the companies of misleading the public for years about their role in global warming. The cities of San Francisco and Oakland, California sued Chevron Corp (CVX.N), Exxon Mobil Corp (XOM.N), ConocoPhillips (COP.N), Royal Dutch Shell PLC (RDSa.L), and BP PLC (BP.L) last year, seeking an abatement fund to help the cities address flooding they say is a result of climate change. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, shellnews.net and cybergriping.com are all owned by John Donovan
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