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Massive losses should be a warning to big oil that its bonanza is over

Feb 7th, 2021
by John Donovan.
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Massive losses should be a warning to big oil that its bonanza is over

Covid has battered the industry, and the race for renewables is speeding up. We are at a tipping point

Sun 7 Feb 2021 07.00 GMT

The final months of 2020 were a tough end to a tough year, according to BP’s chief executive. But Bernard Looney’s verdict on the worst financial year in the industry’s history is a devastating understatement. It was a period marked by thousands of job cuts, battered dividend policies and record multibillion-dollar losses. 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.

Big Oil’s future could be smaller than its past

Feb 7th, 2021
by John Donovan.
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Big Oil’s future could be smaller than its past

Paul Takahashi, Staff writer: Feb. 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. 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.

Debt-laden oil majors retreat amid rally

Feb 6th, 2021
by John Donovan.
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Debt-laden oil majors retreat amid rally

Laura Hurst and Kevin Crowley, Bloomberg Feb. 5, 2021Updated: Feb. 5, 2021 7:57 a.m. The wreckage of 2020 still looms large in the boardrooms of Big Oil as executives last week laid out deep spending cuts and plans to repay stubbornly-high debt even as crude rallies to the highest in more than a year.

Royal Dutch Shell on Thursday added itself to the growing list of supermajors to post disappointing fourth-quarter results. Like many of its peers, the Anglo-Dutch company reported weak cash flow and net income that fell short of expectations.

The earnings came as an unpleasant surprise to investors that had been expecting a tailwind after crude recovered from last year’s historic lows. But with Covid-19 lockdowns still depressing fuel sales and refining margins, the industry’s focus is on playing defense rather than on taking advantage of a rally that’s pushing Brent crude toward $60 a barrel. 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.

BP, Exxon And Shell – Giants Or Dinosaurs In The Making?

Feb 5th, 2021
by John Donovan.
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BP, Exxon And Shell – Giants Or Dinosaurs In The Making?

IAM Newswire: Thu, February 4, 2021, 4:31 PM

Chevron (NYSE: CVX) kicked off the earnings season last Friday, disappointing Wall Street with its third straight quarterly loss and showing just how brutal the oil price war was.

This week, Exxon Mobile Corporation (NYSE: XOM) and BP p.l.c. (NYSE: BP) this Tuesday. Royal Dutch Shell (NYSE: RDS-A)(NYSE: RDS-B) took Thursday’s stage and Total (NYSE: TOT) will report on February 9th. 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 targets power trading and hydrogen in climate drive

Feb 1st, 2021
by John Donovan.
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Shell targets power trading and hydrogen in climate drive

By Ron Bousso: FEBRUARY 1, 2021: 8 MIN READ

LONDON (Reuters) – Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company sources said.

Shell and its European rivals are seeking new business models to reduce their dependency on fossil fuels and appeal to investors concerned about the long-term outlook for an industry under intense pressure to slash greenhouse gas emissions. 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.

INSIGHT-BP’s oil exploration team swept aside in climate revolution

Jan 25th, 2021
by John Donovan.
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INSIGHT-BP’s oil exploration team swept aside in climate revolution

by Reuters: Monday, 25 January 2021 12:00 GMT

* BP slashes size of exploration team in transition plan

* Company hits brakes on search for new oil and gas

* Geologists and scientists diverted to renewable division

* GRAPHIC: BP’s slowing exploration https://tmsnrt.rs/3sHB82x

By Ron Bousso

LONDON, Jan 25 (Reuters) – Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of oil. 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.

Big Oil hits brakes on search for new fossil fuels

Jan 25th, 2021
by John Donovan.
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Big Oil hits brakes on search for new fossil fuels

By Ron Bousso: JANUARY 25, 2021

LONDON (Reuters) – Top oil and gas companies sharply slowed their search for new fossil fuel resources last year, data shows, as lower energy prices due to the coronavirus crisis triggered spending cuts.

Acquisitions of new onshore and offshore exploration licences for the top five Western energy giants dropped to the lowest in at least five years, data from Oslo-based consultancy Rystad Energy showed.

The number of exploration licensing rounds dropped last year due to the epidemic while companies including Exxon Mobil, Royal Dutch Shell and France’s Total also reduced spending, Rystad Energy analyst Palzor Shenga said. 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: What It Will Take To Be Investible Again

Jan 21st, 2021
by John Donovan.
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Conclusion: I Regard Shell As Uninvestable

Shell: What It Will Take To Be Investible Again

: Long Only, Deep Value, Growth, Foreign Companies: JAN 19, 2021

Summary

  • Shell’s dividend cut and unpredictability last year cost it a lot of shareholder confidence.
  • I outline three metrics I think show whether it’s investable again.
  • On all three metrics, I continue to see it as uninvestable with confidence.

U.K.-based oil major Shell (RDS.A, OTCPK:RYDAF) didn’t have a great time of it last year when it came to shareholder relations. With its mammoth dividend cut and poor signaling thereof before it was made, a lot of shareholders ditched the holding. I sold my entire stake and reinvested the proceeds in more Exxon Mobil (XOM).

Below, I outline what I think are the key challenges to Shell being investable at this point. 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.

The Shell Petroleum Development Company of Nigeria Limited completes sale of interest in Oil Mining Lease 17 in Nigeria

Jan 15th, 2021
by John Donovan.
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The Shell Petroleum Development Company of Nigeria Limited completes sale of interest in Oil Mining Lease 17 in Nigeria

Jan 15, 2021

The Shell Petroleum Development Company of Nigeria Limited (SPDC), has completed the sale of its 30% interest in Oil Mining Lease (OML) 17 in the Eastern Niger Delta, and associated infrastructure, to TNOG Oil and Gas Limited, a related company of Heirs Holdings Limited and Transnational Corporation of Nigeria Plc (Transcorp), for a consideration of $533m. A total of $453m was paid at completion with the balance to be paid over an agreed period. 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.

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

Dec 27th, 2020
by John Donovan.
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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

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 to close Singapore base oil unit in 2022

Dec 23rd, 2020
by John Donovan.
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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. 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.

New York Becomes The First State To Divest From Oil And Gas

Dec 11th, 2020
by John Donovan.
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New York Becomes The First State To Divest From Oil And Gas

09/12/2020 13:10 GMT | Updated 09/12/2020 14:54 GMT

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. 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.

The islands that are deep wells of profit for European oil giant Royal Dutch Shell Plc

Dec 10th, 2020
by John Donovan.
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Special Report: How oil majors shift billions in profits to island tax havens

Shell and other oil majors are avoiding hundreds of millions of dollars in taxes in countries where they drill by shifting profits to thinly staffed insurance and finance affiliates based in tax havens… Shell denied that its arrangements constituted tax avoidance… Shell booked $1.3 billion in 2018 and 2019 profits through Bermuda-based banking and insurance subsidiaries that together employed three people… 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.

A NEW BLUEPRINT FOR OIL AND GAS BRIBERY: Carlyle – Shell Oil ties run deep  

Dec 8th, 2020
by John Donovan.
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Javier Ferrandis

Javier Ferrandis: Researcher: Published December 8, 2020

Extracts from an extensive article by former Shell Petroleum Economist Javier Ferrandis:

The CARLYLE-MUBADALA ALLIANCE: A NEW BLUEPRINT FOR OIL AND GAS BRIBERY

Information about the nine-year period Javier Ferrandis spent at Shell can be found at the foot of this article.

I would argue in this article that the overvalued and questionable purchase of Abu Dhabi’s Mubadala owned CEPSA by the Carlyle group in 2019 was part of a USA government-sponsored bribery operation connected to the transfer of large Oil & Gas concessions in the United Arab Emirates (UAE) into the hands of Chinese National Oil Companies and other oil companies based in countries that collaborated with the 1MDB operation and that happen to be main recipients of UAE crude oil exports. The timing of the 1MDB operation and specifically the purchase of Coastal Energy by Abu-Dhabi owned CEPSA and the 1MDB Chinese middleman Jho Low was chosen to coincide exactly with the historic expiration of the 75 years old Abu-Dhabi oil concessions. 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.

The new black gold? Big Oil bets on retail networks in an electric era

Dec 4th, 2020
by John Donovan.
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The new black gold? Big Oil bets on retail networks in an electric era

Subway and McDonald’s, the world’s two biggest food chains, both have fewer outlets than Shell… Shell’s retail division, known as “marketing”… has the world’s biggest network of filling stations…45,000 retail sites over more than 80 countries…Shell plans to expand its retail network by more than 20% to 55,000 sites worldwide by 2025

Ron Bousso: 3 December 2020 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.

Oil Majors Are Paying The Price For Investing In Renewables

Nov 20th, 2020
by John Donovan.
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Oil Majors Are Paying The Price For Investing In Renewables

By Alex Kimani – Nov 19, 2020, 7:00 PM CST

Big Oil has been frequently lambasted for trying to burnish its green credentials through half-hearted investments in renewables. That might have been true for much of the past decade, but it appears to be changing as the oil and gas majors have started putting down big money into clean energy. For instance, European oil majors including BP Plc. (NYSE:BP), Royal Dutch Shell (NYSE:RDS.A), Eni SpA (NYSE:E), Total SA (NYSE:TOT), and Norwegian national oil company Equinor ASA (NYSE:EQNR) have already invested billions of dollars in renewable energy and made big clean energy commitments.Yet, Big Oil just can’t seem to catch a break, with stocks of oil and gas companies that are investing heavily in renewables being punished by the markets. 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.
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