Singapore — Shell will load the first condensate cargo from Australia’s Prelude FLNG project at end January, according to shipping reports and sources Thursday.
The condensate will be loaded in a 80,000 mt clip over January 31 to February 2, shipping reports showed.
A vessel has not been fixed for the cargo, and shipbrokers said Shell began looking for an Aframax tanker to load the cargo Thursday.
Shell did not immediately respond to an email query seeking comment.
The destination of the cargo is unclear, though trade sources have said that the oil major will likely use the cargo within its own network of splitters and refineries.read more
SINGAPORE (Reuters) – Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday.
“We continue to progress Prelude towards operations, with safety and quality being our main focus … We expect to see production around the end of the year,” she told Reuters in an emailed statement.
Prelude – which will process natural gas produced offshore northern Australia and export it as LNG – is expected to have an annual LNG production capacity of 3.6 million tonnes. It will also produce 1.3 million tonnes a year of condensate and 400,000 tonnes a year of liquefied petroleum gas (LPG).read more
Just over a month ago, in the context of informed speculation by retired Shell experts from snippets of information that have leaked out, I asked the question:
Speculation by retired Shell experts: Is all well with the Shell Prelude FLNG Project?
There have been past dire warnings about potential safety issues relating to the Shell Prelude FLNG Project, including from a knowledgable insider source, who supplied information and photographic evidence to support various allegations.
The LNG tanker Gallina visited Prelude in Mid April, and again in June, with transfer of LNG for purpose of cooling tanks etc, nothing unusual there other than it seems to be taking an awful long time.
Also here is a Project falling over itself in the early days to tell the world how wonderful things were going, but now there appears no update news at all on how the commissioning is going?read more
Natural gas as energy source will continue to grow.
Share buybacks and generous dividends.
Background
Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has been actively focusing on what kind of business it wants to be involved in. Part of this activity is to change the composition of its assets. It has been selling plants and oil licenses, and invested where it wants to position the company.
Disposals have also been done to reduce the total debt level. Much of the debt came from the $35 billion acquisition of BG Group back in March of 2016.
Disposals
Early this year, Shell communicated that its plans were to leave oil and gas operations in as many as 10 countries and instead focus more heavily on gas-rich Australia and shale opportunities in the United States.read more
Royal Dutch Shell Plc, BASF SE’s Wintershall unit, Uniper SE, OMV AG and Engie SA have agreed to provide Russia’s Gazprom PJSC with financing for the project.
Updated on
The U.S. stepped up its opposition to the Nord Stream 2 natural gas pipeline linking Russia and Germany, saying the project raises security concerns and that it could draw U.S. sanctions. The U.S. opposes the project because it will increase Europe’s reliance on Russia for gas supplies. It’s also worried the pipeline could open ways for Russia to install undersea surveillance equipment in the Baltic Sea, said Sandra Oudkirk, U.S. Deputy Assistant Secretary of State for Energy diplomacy.FULL ARTICLEread more
SINGAPORE (Reuters) – Shell and Inpex are on the final stretch of a years-long race to export gas from offshore northern Australia, where both have spent billions of dollars building the world’s biggest maritime vessels to grab a slice of Asia’s booming LNG market. Anglo-Dutch energy major Royal Dutch Shell and Inpex, Japan’s biggest oil and gas producer, are vying for first gas from two overlapping fields after delays and cost overruns that have plagued both projects. The pair have spent billions on offshore facilities, including Shell’s 490 meter (1,600 ft) long Prelude floating liquefied natural gas unit and Inpex’s Ichthys Explorer semi-submersible platform, both the world’s largest of their class. FULL ARTICLEread more
LONDON, March 28 (Reuters) – Royal Dutch Shell has filed a criminal complaint against a former senior employee over suspected bribes in the $390 million sale of an oilfield in Nigeria, where the company is already under investigation over a separate deal.
Dutch prosecutors confirmed they had received the complaint against Peter Robinson, a former vice president for sub-Saharan Africa. They said it would be included in an ongoing investigation into Shell and Italy’s Eni over the acquisition of a different Nigerian oilfield, known as OPL 245.read more
(Reuters) – Chevron Corp said on Tuesday it expected supply shortage in the global liquefied natural gas (LNG) market by around 2025, echoing comments made last month by top LNG trader Royal Dutch Shell.
Demand for natural gas, which burns cleaner than coal and oil, has surged as countries such as China look to curb environmental pollution.
Chevron, owner of the giant Gorgon and Wheatstone LNG projects in Australia, said it expects global demand to be nearly 600 million metric tonne per annum (mmtpa) by 2035, while supply could be just about half of that.read more
Royal Dutch Shell chief executive Ben van Beurden has declared that the energy giant’s confidence in the LNG market has been justified with no sign of the oversupply that others had warned of. “The LNG glut is conspicuously absent isn’t it, much to the surprise of those that thought this was inevitable,” Mr van Beurden told reporters at Shell’s fourth-quarter results briefing in London. FULL ARTICLEread more
This year will be the year of the oil and gas revival, as prices lift performance and major projects come online. The Department of Industry, Innovation and Science has forecast LNG exports to reach $35 billion in value 2018. This will be driven by Chevron’s second Wheatstone LNG train coming online in the second quarter of the year, Inpex’s Ichthys project ramping up production, and Shell’s floating LNG ship Prelude coming into full operation. FULL ARTICLE
THE Italian oil and gas firm that operates the Blacktip gas project, which supplies gas for Territory domestic power generation, has taken another significant step forward in its growth plans off Northern Australia. ENI has bought out Shell’s stake in the large undeveloped Evans Shoal gas field 300km northwest of Darwin in the Timor Sea’s Bonaparte Basin.FULL ARTICLE
Eni SpA (ENI.MI) said Thursday that it has acquired the 32.5% stake in an Australian gas field owned by Royal Dutch Shell PLC (RDSA.LN)’s subsidiary Shell Australia Proprietary Ltd.
Terms of the deal were not disclosed.
The Evans Shoal field is located around 300 kilometers northwest of Darwin, where the Darwin liquefied natural gas plant is operating. The field is estimated to have at least 8 trillion cubic feet of raw gas in place, Eni said. The acquisition doubles Eni’s stake in the field to 65%.
The Italian company also said that it has become the operator of the retention lease NT/RL7 located in the north Bonaparte Basin, offshore Northern Australia.read more
NAZI OBSESSION: What makes you think that anyone is interested in Shell's business dealings with the Germans several decades ago?
REPLY BY JOHN DONOVAN
Shell's historians must have thought someone would be interested or they would not have included dozens of pages filled with supporting evidence in "A History of Royal Dutch Shell" Volumes 1 & 2 published in 2007. Understandably, they spun the evidence in favour of their paying client, Shell. Another indication of interest is the many thousands of visitors to our new sister website shellnazihistory.com. Likewise, 17,918 blocked malicious login attempts on the new site with 1,696 blocked spam comments (by Akismet). All stats as of today, 13 July 2019. In addition to the public interest, clearly, there is evil intent towards the website. Wonder who that might be?
Bonus Group: In answer to uscitizen's post proclaiming the wonders of the acquisition of BG Group by Shell, it should be remembered 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. Sooner or later there must be another reserves recategorisation. The Brasil Asset is a prime candidate for this given that it is still staffed by ex-BG sycophants propping up the illusion. As highlighted by Bogus Group, it would seem that Knarr is the latest posthumous failure of BG Group. They were always over stating the value to the shareholders.
Bogus Group: In 2015 this prospect was given a production life of "at least 10 years"Did Shell expect such an early exit, or was this another BG Group recoverable miscalculation?https://www.upstreamonline.com/hardcopy/1805800/shell-to-pull-plug-at-knarr
uscitizen: Shell, the world’s second-largest listed oil and gas company after Exxon, cut costs heavily following its 2016 acquisition of BG Group for $53 billion and the 2014 oil crash.
Despite a slow and bumpy recovery in oil prices, it reported the largest profit among its peers last year and a jump in revenue from previous years.
Shell said its free cash flow - cash available for dividends and share buybacks - was set to rise to around $35 billion per year by 2025 based on a Brent crude oil price of $60 per barrel.
That compares with $28-33 billion in free cash flow it expects to deliver by the end of next year. Brent is currently trading just under $61 per barrel.
Shell, the world’s biggest dividend payer at $16 billion in 2018, expects to increase its dividend payouts to shareholders once it completes the $25 billion share buyback by the end of 2020 that it promised following the BG acquisition.
Shell last increased its quarterly dividend in the first quarter of 2014 to $0.47 per share.
uscitizen: All of the folks bashing Shell for the BG merger, I think we can now say this has been a very good financial move. Shell has overtaken Exxon and Integrated Gas is a big reason why. I am sure there are examples where some good people got pushed out, and I hate to hear that. However, lets not pull the wool over folks eyes and say this business decision was not sound.
Bonus Group: Further to yesterday's post.
Sound Energy plc
("Sound Energy" or the "Company")
Director/PDMR Shareholding
Sound Energy, the Moroccan focused upstream gas company, announces that it has been notified that Brian Mitchener, Executive Director, has today purchased 150,000 ordinary shares in the Company ("Ordinary Shares") at a price of 12.04 pence per Ordinary Share. As a result of this purchase, Mr Mitchener is interested in 150,000 Ordinary Shares, representing 0.0142% of the Company's issued ordinary share capital.
Bonus Group: UnSound Energy?
Readers may wonder why the darling of the AIM Market is now preparing itself for a sale of its Eastern Morocco acreage.
Perhaps, the answer may be found in the Annual Report 2018 available to download as a .PDF from the Sound Energy Website:
Page 49
Loss of Office and Change of Control Provisions
In the event of a change of control of the Company, the CEO, CFO and Exploration Director have the option to give notice and receive a lump sum equivalent to 18 months’ salary for the CEO, 12 months’ salary for the CFO and 8 months’ salary for the Exploration Director.All of the Company’s current share plans contain provisions relating to a change of control.
On a change of control, outstanding awards would normally vest and become exercisable, subject to the satisfaction of any performance conditions at that time.
Page 50
Summary Of Actual Remuneration (including Benefits in Kind and Performance Awards) Of Directors
Executive Directors
James Parsons £995,000
Brian Mitchener £323,000 (RSU Awards No. of Shares 862,682, Granted 26.04.18 Settlement date 01.01.21)
JJ Traynor £168,000 (RSU Awards No. of Shares 961,194, Granted 26.04.18 Settlement Date 01.01.21)
It should be remembered that Brian Mitchener is of the failed BG Group stable. It would seem that Bonus Group habits are hard to let g0!
Bogus Group: I concur with Bonus Group recollection of the tin pot, lacklustre, parvenu outfit. There was no place in BG Group for experienced professionals if they didn’t possess the sycophant tendencies required to stoke the egos of those deluded by corporate grandeur.
Large remuneration packages were not uncommon then too, the chief executive received circa £13mm (published) in bonuses throughout his 12 year tenure. During that period there were 26 fatalities, roughly £500k for each. That was more than distasteful.
Bonus Group: Today is the anniversary date of the agreement on terms of the takeover of BG Group (a tin pot, lacklustre, parvenu outfit) by Royal Dutch Shell plc in 2015. In consequence of BG Group's consistent failures to meet targets and the engineered predatory takeover by Royal Dutch Shell plc the careers and professional lives of many experienced Geoscientists and Engineers were brutally butchered, terminated, and cast aside like so much offal, so it is rather distasteful to see the size of Ben van Beurden's remuneration package being flaunted in the press by Royal Dutch Shell plc.
CEP Problems: It seems to be impossible right now to get any chance of landing a job inside Shell these days. Everytime people apply for jobs unless they have high potential or a diversity point they get rejections. I got told recently that the hiring manager was looking for someone with high potential. Don't these people realise that they also need QUALIFIED people to actually do the work. Ridiculous but it almost getting to age discrimination these days. Rant over.
Shell Canada Insider: SHELL CANADA
...they are wanting to sell their Alberta operations..... because there is no money left in it...they have syphoned it all off.....
I think also on 2010-2011 they had multiple explosions at their Caroline facility supposedly an employee during an explosion at the south compressor station had to be airlifted to hospital and was seriously injured.
The aer/ govt shut it down. it was closed for 6 months and half of the plant was decommissioned when it restarted.
That must have cost them millions of dollars.....there should be government records of this stuff....
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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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By John Donovan
Background
Royal Dutch Shell Plc, BASF SE’s Wintershall unit, Uniper SE, OMV AG and Engie SA have agreed to provide Russia’s Gazprom PJSC with financing for the project.
Henning Gloystein: APRIL 24, 2018
John Benny: 6 March 2018
GARY SHIPWAY, NT News:
By 
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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.