News and information on Royal Dutch Shell Plc
Shell, Petrobras units probed for Brazil price-fixingRIO DE JANEIRO (Reuters) – Brazil’s three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday…
Shell to make final investment call on Nigeria oilfield in 2019: official
HOUSTON, Oct. 10, 2017/PRNewswire/ — Shell Gas BV, Shell Brazil Holding BV and Integral Investments BV (“Shell”) today announce they have signed an agreement with Cosan Ltd. to execute an existing Put Option Agreement, which allows Shell to sell all of its 16.8% interest in Companhia de Gas de São Paulo (“Comgás”) to Cosan Ltd. Under the agreement, Shell will exchange its ~21.8 million common shares in Comgás for Cosan S.A. Indústria e Comércio (“Cosan SA”) shares plus cash.
RIO DE JANEIRO, Sept 15 (Reuters) – Brazil’s Raízen, the world’s largest sugar producer, is trying to cut production costs to remain profitable amid depressed international prices, Chief Executive Luis Henrique Guimarães said on Friday.
Raízen, a 50-50 joint venture between Cosan SA Indústria e Comércio and Royal Dutch Shell Plc, plans to crush up to 63 million tonnes of cane in the current crop season, more than 10 percent of total Brazilian cane output.
(Reporting by Rodrigo Viga Gaier; Writing by Marcelo Teixeira; Editing by Paul Simao)
Shell MoU with Petrobras and their partnership to share experience on cost efficiency and use of technology.
Déjà vu springs to mind (Daily Telegraph 01 March 2012) on BG Group finance of $1.8bn from Brazilian Development Bank to fund interests offshore Brazil (was this the same interests that Chapman demanded his cohorts in Brazil disclose over estimated reserves?).
Daily Telegraph 14 May 2013 also noted Chris Finlayson rhetoric to “keep up the pace with huge discoveries” and focusing on “value over volume”, leaving the company “lean and agile”.
HOUSTON, Mar 14, 2016 (PR Newswire Europe via COMTEX) — Third phase of major deep-water project delivered, optimizing production capacity
HOUSTON, March 14, 2016 /PRNewswire/ — Shell and its joint venture announce the start of oil production from the third phase of the deep-water Parque das Conchas (BC-10) development in Brazil’s Campos Basin. Production for this final phase of the project is expected to add up to 20,000 barrels of oil equivalent per day (boe/d), at peak production, from fields that have already produced more than 100-million barrels since 2009.
Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) and BG Group plc.’s (ADR) (OTCMKTS:BRGYY) merger is faced with another setback, as the Australian antitrust regulator, Australian Competition and Consumer Commission (ACCC) now expects to make a decision by November 19. The commission announced on October 22, that the additional time will allow a more detailed review of the proposed acquisition.
The ACCC, earlier in September, had indicated that it will disclose its decision on the merger after two months. However, the regulatory authority has now decided to delay it by another two weeks. The delay in September had come amid ACCC’s concerns of Shell and BG’s overlapping businesses in Eastern Australia, which may limit competition.
A fresh drop in in oil prices and political instability in Brazil is making investors miss out on about $5.5 billion in Royal Dutch Shell Plc’s pending takeover of BG Group Plc.
BG closed on Monday at 990.4 pence, about 9.5 percent below Shell’s cash-and-stock offer. The difference in share prices in the deal — the largest in the energy sector in at least a decade — is wider than the average for other global acquisitions bigger than $10 billion, data compiled by Bloomberg show.
Friday, 7 August 2015
Royal Dutch Shell is considering investing billions in Brazil, set to become a focal point after the planned acquisition of BG Group, even as it prepares to sell huge chunks of its business to pay for the $70bn (£45.11bn) deal.
Despite a broad drive to cut spending in the face of persistently low oil prices, chief executive Ben Van Beurden remains steadfast in his plans to buy BG, which will transform Shell into the world’s biggest liquefied natural gas (LNG) supplier.
THE HAGUE, July 24, 2015 /PRNewswire/ —
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Royal Dutch Shell plc (“Shell”) (NYSE: RDS.A) (NYSE: RDS.B) today announced that its recommended combination with BG Group plc (“BG”) has received unconditional merger clearance from the Brazilian competition authority (CADE), satisfying the first of the pre-conditions to the combination. Other pre-conditions include merger clearances in Australia, China and Europe.
As Royal Dutch Shell seeks to finalise its £55bn takeover of smaller UK-based rival BG Group, it will be closely watching the situation at Petrobras, Brazil’s state-controlled oil company that is engulfed in scandal.
By Mario Sergio Lima and Rachel Gamarski published by Bloomberg.com 23 April 2015Royal Dutch Shell Plc, poised to become Brazil’s biggest oil producer after Petroleo Brasileiro SA, said the state-run driller will emerge strengthened from a corruption scandal and the industry’s biggest debt load.
Speaking to reporters in Brasilia after meeting with President Dilma Rousseff, Chief Executive Officer Ben Van Beurden said Brazil probably will account for 20 percent of Shell’s output by the end of the decade after its planned $70 billion purchase of BG Group Plc. The Hague-based company would consider further growth opportunities in the country if they arise, he said.
Shell’s Brazil strategy factors in Petrobras scandal -CEOThu Apr 23, 2015 7:04pm BST
(Reuters) – Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell’s CEO said on Thursday.
Chief Executive Ben van Beurden said oil production from Brazil’s offshore subsalt region will remain profitable, and predicted that oil prices will rise from the low levels of the past six months.
Van Beurden briefed Brazilian President Dilma Rousseff for 1-1/2 hours on Thursday on his company’s operations in Brazil, where Shell is set to become the second-largest oil producer following its April 8 agreement to purchase rival BG Group.
14 April 2015
Shell announced an offer of a £47bn ($70bn) acquisition of BG in the second biggest oil and gas deal on record after Exxon and Mobil’s £51bn ($75.3bn) merger in 1998. Shell and BG expect to make annual savings of £1.7bn ($2.5bn) and the combined company is estimated to be worth £180bn ($266bn). The transaction will create the largest independent LNG producer in the world forecast to produce nearly a fifth of global LNG supply in 2017-18. The other major prize for Shell is BG’s Brazilian oil portfolio of mean total reserves and resources amounting to 6 billion boe and gross production expected to peak at 2.6 million boepd.
Article By Nick Cunningham published Sun, 12 April 2015 by OilPrice.comCould the largest energy deal in over a decade begin a new wave of mergers and acquisitions? Is LNG really the future? How Will ExxonMobil Respond? And perhaps more importantly, does the mega-deal between Royal Dutch Shell (RDS.A) and BG Group (LON: BG) portend the end of the bear market for oil?
Shell announced on April 8 that it agreed to buy BG Group for an eye-popping $70 billion.
The move was surprising, in the sense that a lot of companies in recent years have reined in their spending on high-cost projects outside of North America. Shell, in the midst of its own two-year $15 billion divestment campaign to shed unwanted assets, was thought to be trying to make itself leaner and meaner. Having passed on the U.S. shale revolution, it is interesting that Shell’s big splash once again avoided North America.
Royal Dutch Shell’s swoop on BG Group will face a series of hurdles including competition fears and questions over the ownership of some of its newly acquired assets.
The £47billion acquisition of BG will make Shell the largest foreign oil company in Brazil – but there are concerns about its assets in the South American nation.
One of Shell’s main reasons to pounce on BG was its large holdings in Brazil. But many of the assets there are owned through joint ventures, which gives the partners first refusal to buy BG’s share in the projects if it is taken over.
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: If Prelude is planning to complete a swivel swap out or repair, it is at least 3 months of work. But that is for a typical NS FPSO, the massive Prelude unit is one of a kind. And no spares were manufactured with 2 production paths. (Operating one at temporary high rates could be done.) Based on the news reports it sounds like both production swivels have failed or have leakage into the secondary containment system. Possibly due to the delays in operation? But this is just one piece of the puzzle. Putting the entire upstream processing facility, gas conditioning, liquefaction, storage and export on one site is just asking for problems. You can not comply with NFPA 59A separation distances...
: Prelude again
Wonder if the Shell Australia Chairman is still pleased with the “progress being made”.
Bill
: https://www.energyvoice.com/oilandgas/271096/petrofac-new-ceo-asfari-retire/ The revolving door continues to spin, BG Group / Shell ‘executive’ demonstrates cronyism is alive and flourishing. Yes, this was the COO that believed corporate projects could be controlled under (what was eventually validated to be flawed) the Value Assurance process, while he sampled corporate hospitality and champagne at Wimbledon.
: More on Shell's fumblings: https://seekingalpha.com/amp/article/4378196-royal-dutch-shell-energy-transition-woes
: Looking at the senior executive org charts revealed last week, seems there is not a lot of “Reshape” at that level... Looks like the worker bees will be sacrificed again...
: Looks like Stacey Orlandi never stays long enough in one job for very long. I suppose long enough to be seen and then off to the next one. I wonder what she left behind for others to clear up? Neither did Walter or Malcolm and see where that got us.
The point I find difficult to swallow is her role as Refinery Manager. After two years in procurement in an office somewhere she spends a year as a production Manager and then become THE refinery manager of the Cherry Point Refinery, capable of refining 250k barrels a day plus converting Diesel from biomass etc, a large and complex plant.
Anyway, we shall see.
: Bogus Group, hopefully the Executives will be 'executed' and we will be saying 'goodbye' to these worthless, low integrity, sociopaths to whom probity is alien.
: Does the statement “It is very painful to know that you will end up saying goodbye to quite a few good people. I know I, and many others in Shell, will be saying goodbye to people we know well and really like and who have great loyalty to the company” mean that executives will be saying goodbye to good people, or good people will be saying goodbye to executives?
: More on Shell's proposed Upstream cost cutting. https://oilprice.com/Energy/Energy-General/Shell-May-Cut-Upstream-Oil-Operations-By-40.amp.html
: Perhaps time to clear out the Brazil Asset? https://uk.mobile.reuters.com/article/amp/idUSKCN26C0GI
: USA USA USA. BG Group was an Internet Cafe and Cappuccino Lifestyle company that could not get its ducks lined up in a row for the simple reason that it didn't know what a duck is. In consequence, its goose was cooked.
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