In managing human resources, what may sometimes get overlooked is the human element. But Nitin Prasad, chairman of Shell in India, is not one to miss the larger picture.
Sample this. When asked what makes Shell one of the best employers in India, he says it’s the company’s 8,700 employees. Shell believes in collectively shaping a work environment that prioritises diversity and inclusion; promotes a culture of open innovation; observes equality for all genders and prioritises focus on ethical behaviour.read more
Royal Dutch Shell chief executive Ben van Beurden speaks at a full year results conference in London on January 31, 2019. – Royal Dutch Shell today said that net profit surged 80 percent to $23.4 billion in 2018, thanks to higher oil prices and cost: AFP/GETTY IMAGES
Ellen R. Wald:Senior Contributor:
In 2004, a mania grew in the financial and energy circles around the idea of peak oil. The notion that the world was running out of oil became a commonly held belief, which, in turn, helped push oil prices well above $100 per barrel.
Fifteen years later, peak oil is still talked about by some, but most industry insiders pay it no heed. Instead, over the last few years, the increasingly popular concept has been peak demand. Peak demand is the idea that the demand for oil will reach an apex and then start to decrease, especially as government regulations require more use of alternative energies and as battery-powered machines, like electric vehicles, will presumably become more popular.
Peak demand may or may come to pass—that is not the concern here. What we do know is that if the peak demand idea continues to gain popularity it will lead to a shortage of oil in the coming years and decades. The idea of peak demand threatens the global oil supply because it incentivizes and even excuses oil companies to stop exploring for and producing (E&P) more oil.read more
Royal Dutch Shell and Italy’s Eni have been embroiled in a legal battle since 2011 over an alleged $1.1 billion paid in bribes to Nigerian government officials, related to the acquisition of new off-shore drilling rights. Nigeria is now counter-suing for $1.14 billion (868 million British pounds) in a London court…
With the reelection of Muhammadu Buhari to the Nigerian presidency, Africa’s leading oil exporter faces a challenge as old as Nigeria itself: political corruption. This scourge shortchanges ordinary Nigerians and undermines the country’s development.
Royal Dutch Shell (NYSE:RDS-A) and Italy’s Eni (NYSE:E) have been embroiled in a legal battle since 2011 over an alleged $1.1 billion paid in bribes to Nigerian government officials, related to the acquisition of new off-shore drilling rights. Nigeria is now counter-suing for $1.14 billion (868 million British pounds) in a London court, claiming that Shell and Eni assisted “corrupt Nigerian government officials to breach fiduciary duties” in the deal. This scandal comes after a leaked 2013 report, which details how Nigeria’s National Petroleum Corporation (NNPC) owed the government $20 billion in revenue due to its failure to report its earnings. It seems there is no shortage of legal quagmires for Africa’s most populous nation.read more
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
Royal Dutch Shell took the top spot among oil and gas companies on the Forbes Global 2000’s list of the biggest and most powerful public companies, surpassing last year’s leader Exxon Mobil Corp. The Anglo-Dutch oil and gas giant ranked 11th among all companies on the list, up from 20th the previous year, mostly because of higher sales due to lofty commodity prices. Irving, Texas-based Exxon came in at 13th, the same as last year. The Forbes Global 2000 is determined by a composite score of equally weighted measures of revenue, profits, assets and market value. FULL ARTICLEread more
Trump’s withdrawal from the nuclear deal with Iran, which has pushed up the price of oil, thus benefiting Shell and other oil companies, threatens to put billions of dollars worth of trade in jeopardy.
Michael Lynch , CONTRIBUTOR: APR 3, 2018: Opinions expressed by Forbes Contributors are their own.
The internet is going gaga over Royal Dutch Shell’s new “Sky” scenario, which discusses the impact on the energy industry of efforts to limit climate change. Many treat the existence of such a scenario developed by a major oil company as evidence that a) an important oil industry player expects this to happen, b) projections of a severe climate policy future are validated. Writing as an aged methane emission, this is not really new. In the 1990s, Shell was cited by many environmental advocates for appearing to have sided with them. As Curtis and Romm said in 1996, “Imagine another world in which fossil-fuel use had begun a slow, steady decline; more than a third of the market for new electricity generation was supplied from renewable sources; the renewables industry had annual sales of $150 billion; and the fastest-growing new source of power was solar energy. An environmentalist’s fantasy, right? No, that’s one of two planning scenarios for three to four decades from now, developed by Royal Dutch/Shell Group, the world’s most profitable oil company, which is widely viewed as a bench mark for strategic planning.” FULL ARTICLEread more
Daniel Fisher: Writer and communications consultant and former senior editor with Forbes magazine; 21 March 2018
Five of the world’s largest oil and gas producers have filed a motion to dismiss a climate change lawsuit against them by the cities of Oakland and San Francisco even as they prepare to deliver an unusual “tutorial” on climate science to the federal judge overseeing the case. In a 45-page filing on Tuesday, Chevron, BP, ConocoPhillips, ExxonMobil and Royal Dutch Shell urged U.S. District Judge William Alsup to dismiss the lawsuit seeking billions of dollars to pay for costs associated with global warming. The oil companies argue the U.S. Supreme Court and the U.S. Court of Appeals for the Ninth Circuit have repeatedly rejected similar lawsuits against oil companies, the auto industry and electric utilities because Congress has given authority to regulate CO2 emissions exclusively to the Environmental Protection Agency. FULL ARTICLEread more
Oil giant Royal Dutch Shell’s trading arm Shell Trading International made a significant move into blockchain development on Thursday (18 January) by bagging a minority stake in London, U.K.-based start-up Applied Blockchain. In the simplest of terms, a blockchain is akin to a digitally distributed ledger that can be replicated and spread across many nodes in a peer-to-peer network, thereby minimising the need for oversight and governance of a single ledger. It is being actively pursued by several energy traders among others. Along with Shell Trading International, Caliberate Partners would also be taking a minority stake in the start-up founded in 2015 in London’s Level39 Fintech Accelerator. FULL ARTICLEread more
…these are also the same waters unsuccessfully explored by Royal Dutch Shell in 2015, after which the company halted Arctic operations for the foreseeable future.
Interior Secretary Ryan Zinke released the Trump Administration’s long-awaited offshore drilling proposal last week. Once enacted, the plan will replace the existing leasing schedule, which was designed by the previous administration and had been set to run through 2022. New administrations are free to scrap the hold-over plans of prior administrations, and anyone who followed the 2016 presidential campaign knew that President Trump had a dramatically different view of offshore energy development than his predecessor. FULL ARTICLEread more
With the growing inclination towards the use of cleaner and environment-friendly sources of energy, natural gas has emerged as a preferred choice of fuel worldwide. However, due to the challenges related to the transportation and storage of gas, the demand for liquefied natural gas (LNG) has grown faster than the demand for natural gas over the last decade. As a result, natural gas producers, particularly in the U.S., have been expanding their LNG operations to capitalize on the booming demand for the commodity. Royal Dutch Shell (NYSE:RDS.A) is one such integrated energy company that has been increasing its presence in the gas markets. In this note, we discuss how Shell’s integrated gas business will drive value for the company over in the long term. FULL ARTICLEread more
“Royal Dutch Shell PLC’s chief executive drew a collective gasp with his “lower forever” comment as one recent story put it.” Funny, in 2012 when I said at an OPEC conference that the price was likely to return to the $50-60 range, it was not even taken seriously enough for gasps: the moderator actually thought I was joking, and an oil company CEO replied, ‘Well, you hate to call someone an idiot’ apparently unaware I’ve been called much, much worse. FULL ARTICLE WITH CHARTSread more
Investors in the fossil fuel sector have finally had cause to celebrate this week after OPEC suggested that an output freeze could finally be in the offing.
The idea had initially been tabled at the start of the year as Saudi Arabia, Qatar, Venezuela and Russia got around the table. But Iran’s determination to get the pumps ramped back up to pre-sanction levels put the plan firmly on the backburner.
However, with Tehran’s reluctance to take part in a deal now apparently thawing, stock pickers have become more optimistic over the growth outlook for many of the oil industry’s major players.read more
With the ever-growing energy needs worldwide, the conventional sources of energy are likely to exhaust soon. Having explored the majority of the onshore reserves, oil and gas producers around the globe are now moving to offshore reserves, that are primarily formations in deep waters, containing thick layers of oil and gas in permeable rock. Consequently, Deepwater drilling, often used to categorize drilling in water depths of greater than around 400 meters, has become an attractive alternative to onshore drilling. In line with this growing trend, Royal Dutch Shell (NYSE:RDS.A) has categorized Deepwater as one of its growth priorities for the next five years. (Also Read: Shell’s Growth Priority Over The Next Five Years – Chemicals) In this note, we discuss the growth potential of the deepwater market, Shell’s positioning in this market, and its strategy going forward.read more
One Floating LNG Dream Sinks As Another Gets Ready To Float
Unfortunately for Shell it formally committed to the Prelude development in May, 2011, a time when oil was selling for around $120 a barrel, three-times the current price of around $41/bbl.
No-one blinked and share prices barely fluttered when a $40 billion plan by Australia’s Woodside Petroleum ngIf: ticker to develop a floating liquefied natural gas (LNG) project was torpedoed earlier today.
However, the knock-on consequences of sinking the Browse project will be felt most acutely at Europe’s biggest oil company, Royal Dutch Shell ngIf: ticker .
The immediate impact on Shell is that it has a 27% interest in the Woodside-led Browse LNG project, but it is also nearing completion of the world’s biggest floating LNG barge, the $12.6 billion Prelude project.read more
singapore love: Rumor on the street is the Shell Vito project is over a year behind schedule, AND Shell plans to double down and award Whale to the same contractors in the coming weeks.
Must be some serious love going on between the Singaporeans and Shell decision makers....
Bonus Group: To uscitizen,
BRAZIL:
'PS - Shell is investing 2 billion a year into Brazil and already paying off'. Assuming $2Bn (you did not quote currency), that would just about cover Shell's share of the costs of replicants, operating expenses and of course managers' BONUSES!
$2Bn would represent approximately 10% of Shell's income in 2018.
https://reports.shell.com/annual-report/2018/consolidated-financial-statements/statement-of-cash-flows.php
FPSO unit cost: our initial case ($91bn total capex) assumed a cost of $2.5 billion for each of 13 FPSO units. However, our research shows a wide range of possibilities for this cost depending on the vessel configuration; plus the fact that Brazilian shipyards should get better at building them so the cost could reduce over time. Also the project might choose to lease rather than buy the FPSOs outright, which could improve economics for the consortium depending on the lease terms.
http://openoil.net/wp/wp-content/uploads/2016/12/OO_br_Libra_narrative_1.0_161104.pdf
Bonus Group: To uscitizen,
BG GROUP ASSETS SOLD BY SHELL SUBSEQUENT TO TAKEOVER:
Petrobras and Total announced that they have finalized a decisive milestone in the realization of their Strategic Alliance, signed in March 2017, with the completion of the following transactions: Transfer from Petrobras to Total of 22.5% of the rights of the Iara area, which comprises the Sururu, Berbigão and Oeste de Atapu fields in Block BM-S-11A in the Santos Basin pre-salt, operated by Petrobras (42.5%) alongside Shell (25%) and Petrogal (10%). The consideration for the above transactions amounts to US$1.95 billion, including closing adjustments. This amount does not include US$ 400 million that can be triggered by Petrobras to carry a part of its investment share in the Iara development fields and contingent payments.
http://www.petrobras.com.br/en/news/petrobras-and-total-complete-the-transfer-of-rights-in-the-lapa-and-iara-concessions-as-part-of-their-strategic-alliance.htm
Royal Dutch Shell is nearing the sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor for $3 billion, banking sources said, marking a milestone in its drive to reduce debt after buying BG Group.
https://www.reuters.com/article/us-shell-m-a-northsea/shell-set-to-sell-3-billion-north-sea-assets-to-chrysaor-idUSKBN15B14M
Including this week’s US$750 million sale of an offshore shallow water gas field in Thailand.
https://www.jwnenergy.com/article/2018/1/shell-has-sold-us27-billion-assets-acquiring-bg-group-charts/
The deal covers Shell’s interests in the fields Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine, and a 10% stake in Schiehallion. Shell also announced on Tuesday that it had sold its stake in a Thai gas field for $900m to a subsidiary of the Kuwait Foreign Petroleum Exploration Company.
https://www.theguardian.com/business/2017/jan/31/shell-sells-north-sea-oil-gas-fields-chrysaor-linda-cook
TOTAL: $5.7Bn = 21% of $27Bn
uscitizen: Bonus group, Contradict myself - lol. Poor guy - like I said do your own research - tell us what you find, you will look like the irrational uneducated poster you are. PS - Shell is investing 2 billion a year into Brazil and already paying off. Do you ever look anything up?
Bonus Group: To US Citizen. Thank you for your post of September 9th 2019 20:12. Congratulations on also being an avid reader of this blog. You are correct in my post of June 26th 2019 23:05 I did say that '..Shell had a ‘fire sale’ of a plethora of BG ‘dross’ assets in order to raise $30Bn to disguise the amount by which they had overpaid for BG Group.' More correctly, Shell had a ‘fire sale’ including a plethora of BG ‘dross’ assets in order to raise $30Bn to disguise the amount by which they had overpaid for BG Group. This does not detract from the fact that Shell did have a 'fire sale' in order to raise $30Bn. By my estimation Shell over paid for BG Group by about 30%. The Christmas boxes were very large, but the presents were very small. You contradict yourself when you say that you will not do my homework for me, but then tell me that the split of the $30Bn assets sold was 80:20 Shell:BG. Is that correct? If so, thank you that just goes to show how worthless those BG assets were, but then that is what you can expect from a Cappuccino and Belgian chocolate lifestyle company. Any comments about what the Brazil Asset are up to these days?
uscitizen: To Bonus Group - the large percentage of assets sold by Shell were non BG assets. I will not do your homework for you, but the split is 80/20. A great example of why you do not take what this sites protagonists post as good information. But go ahead, say I am wrong and also posting garbage, do your research and tell me the number of BG asset sales vs the 30 billion Shell raised thru asset sales.
John Donovan: MESSAGE FROM JOHN FOR THE ATTENTION OF BOGUS GROUP. I have received the information you kindly sent and have replied by encrypted email.
Bill Campbell Prelude Comment: I might write in more detail but I find it rather ironic that it was this website that was telling the world 6 or so years ago that this installation did not have risk levels as low as claimed and one of the principal risk drivers was the compact nature of a hazardous substances plant with not enough space to swing a cat in. Unless you are not aware I wrote to Shell Australia at the time giving them data from 8 existing or planned onshore LNG plants which varied from 80 to 100 hectares or on average 20 to 22 times the footprint of Prelude, could they tell me as a stakeholder with shares in the Company how they arrived at their ridiculously low number but can guess I assume that a reasonable explanatory reply was not forthcoming, as sure as eggs are eggs if this plant is currently having problems or if it has problems or major accident events in future it will be due to the force fitting a complex plant, with risk levels much above which they have published, on a postage stamp of a footprint.
God willing they will never live to regret their fraudulent overly optimistic claims, risk is based on reality not wishful thinking.
Bill
Thanks. Problem is that it's behind a paywall and despite it being a great publication for the oil industry, none of us retired folk wants to invest in a subscription.
FURTHER REPLY FROM JOHN
I have received the further Prelude information you have kindly provided and have replied by encripted email.
Bonus Group: Further to Bogus Group's post yesterday. I am absolutely appalled that a Senior Executive of Royal Dutch Shell plc should spout so much nonsense concerning the Prelude installation. The statement is redolent of Malcolm Brinded and his 'Touch F*ck All' policy, which led to the deaths of Keith Moncrieff and Sean McCue on Brent Bravo on 11th September 2003. What is boring is the continuous misleading spin and blather from the top of this company and their lackadaisical approach to safety. 'Chronic Unease' is a well known expression in the Oil and Gas Industry, and that state of mind is far from boring or routine. In fact nothing is either boring or routine in Oil and Gas operations. Rob Jager moved last year to the post of VP Prelude after spending thirteen years as Country Chair and VP for Shell New Zealand/Shell Taranaki, after Shell announced the sale of its New Zealand interests in March 2018. Jager clearly previously has spent too much time being 'laid back' in the fantasy land of Lord of the Rings, marvelling at New Zealand's scenery and wondering who will be entertaining him for his next luxury seafood dinner accompanied by a glass of chilled expensive New Zealand Sauvignon Blanc.
Bogus Group: PLEASE SEE REPLY FROM JOHN WHICH FOLLOWS THE COMMENT FROM BOGUS GROUP
More on Prelude article in Upstream.
I’m stunned by what can only be described as idiotic statements. Nothing like the utopia of self-aggrandisement without verification. What is Jagers’ level of technical and operational capabilities? I recall similar rhetoric from BG Group charlatans, with the “best in class” mentality and use of the most overstated expression ever to be used outside the education sector, all aimed at pleasing their taskmasters.
Ramp-up of Prelude and what Jager hopes will be decades of “uneventful” and “boring” operation.
“This will be a state where little or nothing happens. We have few if any alarms, no surprises and where things are running like clock work and we are effectively in autopilot,” he said.
“We will know when we have succeeded in this ambition because Prelude will be recognised as the most boring asset in Shell global portfolio our people will refer to it as the safest and most desirable place to work, and when the rest of the industry is knocking on our door to find out how we have achieved such a best in class outcome, especially for a facility as complex and unique as Prelude.”
REPLY FROM JOHN
Hello, I would be grateful if you could send me a copy of the article via [email protected] using an anonymous email address. I would pass it on to retired Shell EP experts for their assessment.
This is not a Shell website. Click on Disclaimer link at top of page for more information.
OPL 245 CORRUPTION SCANDAL: LATEST NEWS
$1.3bn Malabu Oil Scandal: Italy Protests Swiss Delay in Releasing Evidence against Shell, Eni 22 Jun 2019 04:10 This Day Chika Amanze-Nwachuku with agency report
Italian prosecutors have expressed dissatisfaction about lengthy delays in obtaining evidence they have requested from Switzerland in the criminal charges against Royal Dutch Shell and Italy’s Eni with regard to …
FG names Shell, Eni executives in $1bn bribery case – The Punch 08 May 2019 11:43 Google ’Femi Asu with agency report
Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it believed a handful of executives, including Chief Executive …
FG files fresh charges against Shell executives, JPMorgan over Malabu Oil scandal 08 May 2019 10:01 Herald Sequel to the lawsuit filed last year against Royal Dutch Shell Plc, Eni and JP Morgan for being involved in a $1bn oil block bribery case, the Federal Government has submitted new case documents that indict their top executives.
FG said in the court files …
FG names Shell, Eni executives in $1bn bribery case 08 May 2019 08:09 Punch Newspapers ’Femi Asu with agency report
Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it believed a handful of executives, including Chief Executive …
Dutch Prosecutors to Arraign Shell over $1.3 billion Acquisition of OPL 245 02 Mar 2019 10:19 Biz Watch Nigeria Dutch Prosecutors to Arraign Shell over $1.3 billion Acquisition of OPL 245
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011.
Shell said in a …
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EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON. EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
Michael Lynch 
…these are also the same waters unsuccessfully explored by Royal Dutch Shell in 2015, after which the company halted Arctic operations for the foreseeable future.
Norway Faces Up to Big Oil’s Snub
Unfortunately for Shell it formally committed to the Prelude development in May, 2011, a time when oil was selling for around $120 a barrel, three-times the current price of around $41/bbl.
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EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.