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Posts Tagged ‘Chevron’

Shell’s U.S. shale output plans prioritize oil over natgas

Ron BoussoErnest Scheyder: 8 March 2018

HOUSTON (Reuters) – Royal Dutch Shell Plc (RDSa.L) is focused on increasing its U.S. shale operation’s oil production while slowing investment in lower-margin natural gas, an executive said on Thursday. The Anglo-Dutch company aims to boost its overall shale production by 200,000 barrels of oil equivalent per day (boe/d) to 500,000 boe/d between 2017 and 2020, mostly in the United States with some production in Argentina. FULL ARTICLE read more

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Shell mulls investment in new wave of LNG projects

Shell chief executive Ben van Beurden says the company is looking to finalize new investments, which may include the company’s LNG Canada project

Geoffrey MorganGEOFFREY MORGAN Published on: March 8, 2018 | Last Updated: March 8, 2018

HOUSTON – The head of Royal Dutch Shell Plc dropped a hint that it’s keen to invest in liquefied natural gas projects soon on Tuesday, a tantalizing prospect for Canadian gas producers desperate to access rapidly changing global energy markets. Shell chief executive Ben van Beurden did not specifically mention the company’s LNG Canada project in Kitimat, British Columbia when he addressed a room of oil and gas executives on Wednesday, but indicated the company is looking to finalize new investments. FULL ARTICLE read more

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Chevron expects LNG supply shortage by 2025

John Benny: 6 March 2018

(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

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How Shell hid a Whale before placing Mexican oil bet

Ron BoussoMarianna Parraga: MARCH 2, 2018

Shell’s oil and gas reserve life – the number of years it can sustain production at its current levels – has steadily declined in recent years despite the acquisition of BG Group

LONDON/HOUSTON (Reuters) – The gasps in the audience were clearly audible at the auction of Mexico’s oil blocks a month ago as Royal Dutch Shell’s hefty bids were announced one by one. The size of Shell’s cash payments – $343 million out of the total of $525 million that Mexico earned in the sale – far outstripped its competitors’ offers, guaranteeing that the company swept up nine of the 19 offshore blocks. The Anglo-Dutch major knew something no one else did. FULL ARTICLE read more

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In the deepwater versus shale oil contest, Shell backs both

Ron BoussoDmitry Zhdannikov: FEBRUARY 20,2018 LONDON (Reuters) – Royal Dutch Shell (RDSa.L) will expand deepwater output and turn a profit from its shale production in coming years as both together will help the oil major cope with a world of low crude prices, the head of its oil and gas production said on Tuesday.

Shell’s deepwater production in Brazil, Nigeria, the Gulf of Mexico is much bigger and more profitable, but the firm sees the nimble, fast-returns U.S. onshore shale as an engine for growth.

“We can see strong (shale) production growth, strong cash surpluses that gives us a balance in our portfolio where you can ramp investment up and down, you can moderate that, very unlike deepwater which is quite chunky,” Andy Brown told Reuters in an interview on the sidelines of the IP Week conference. read more

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Big Oil’s Global Warming Case Could Hinge on Jurisdiction

Borrowing from the playbook that won multibillion-dollar awards against Big Tobacco, five California cities and counties sued the oil giants last year, claiming they deceived the public for decades about the dangers of fossil fuel production.

 

SAN FRANCISCO (CN) — The fate of five lawsuits seeking to hold the world’s biggest oil companies liable for global climate change hinges on a murky jurisdictional question that could get some cases booted out of federal court.

For the past eight days, attorneys for more than a dozen oil companies urged two federal judges not to send lawsuits against them back to state court, where five California cities and counties sued Big Oil last year.

“The extraordinary nature of these claims encompasses conduct across the globe,” the oil companies’ attorney Theodore Boutrous said in court Thursday. “We think the federal courts need to hear this, because it’s uniquely federal.” read more

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

Big Oil takes stage for post-austerity beauty contest

Ron Bousso: 12 FEB 2018

LONDON (Reuters) – With years of austerity in their rear-view mirrors, the world’s biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil, the biggest publicly traded oil company, has largely disappointed with a weaker outlook. FULL ARTICLE

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

Ads will attack de Blasio’s lawsuits against oil companies

De Blasio announced last month that the city had filed a lawsuitagainst BP, Chevron, Conoco-Phillips, ExxonMobil and Royal Dutch Shell, claiming their fossil fuels produce 11 percent of the Earth’s global-warming gases.

The suit “seeks to shift the costs of protecting the city from climate-change impacts back onto the companies that have done nearly all they could to create this existential threat.”

City Hall spokesman Eric Phillips slammed the new campaign. read more

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Shell Commits to Expanding Gas Stations as Some Rivals Retreat

Istvan Kapitany, head of Shell’s global retail business

By Kevin Orland: 9 February 2018

(Bloomberg) — While many oil producers are stepping back from their retail operations, Royal Dutch Shell Plc is doubling down.

Shell, which has about 44,000 filling stations around the world, opened its first one in Mexico last year, the start of $1 billion in investments over the next decade. Shell also is ramping up spending in China, India, Indonesia and Russia, Istvan Kapitany, head of Shell’s global retail business, said in an interview in Calgary. read more

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Canadian shale boom triggers quakes in Alberta town as frackers rush to drill new wells

Communities like Fox Creek, Alberta, are feeling the economic benefits of the shale boom, along with fracking-linked earthquakes. 

Drilling has been so intense near Fox Creek, Alberta that it’s been linked to a series of earthquakes.Brennan Linsley/AP Photo

Bloomberg News: Robert Tuttle: February 9, 2018: 12:59 PM EST

In the Western Alberta town of Fox Creek, roughnecks shuffle through hotel lobbies, freight trucks choke slushy streets and, every once in a while, tremors shake the earth.

Welcome to Canada’s biggest shale boom. Chevron Corp., Royal Dutch Shell Plc, Encana Corp., Murphy Oil Corp. and XTO Energy Inc. are among those flocking to Fox Creek to stake their claim in the oil-rich Duvernay shale formation. 

Here, the prize is condensate, an ultra-light oil that’s perfect for diluting the heavy tar-sands crude for which Alberta is known. More locally produced diluent would be a plus for Canadian companies that now depend on the U.S. — and for communities like Fox Creek that are feeling the economic benefits along with fracking-linked earthquakes. More of both may be in the offing as drillers flock in Chevron’s wake into the Duvernay region. read more

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

Oil multinationals leave heavy years behind

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

Oil multinationals leave heavy years behind

Bert van Dijk • Entrepreneurship

Fossil fuel companies may be subject to fire from environmental organizations, ‘green’ shareholders, financial regulators and prosecuting climate lawyers, but financially speaking the big oil and gas multinationals are back on their feet after a number of difficult years.

That is the most important conclusion now that four of the ‘Big Five’ have published their annual results. Cost savings, higher oil prices and rising demand for oil and gas in the world led to a total of more than $ 115 billion in operating cash flow for Shell, ExxonMobil, BP and Chevron combined and more than $ 51 billion in profits last year. read more

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

BP announces North Sea discoveries with Shell, Chevron

Photo: JONATHAN NACKSTRAND, Stringer: Shell is a shareholder in the Elgin rig, shown here operating 150 miles from Aberdeen in the North Sea in 2012. Shell is selling stakes in 10 North Sea fields.

Jordan Blum, Houston Chronicle: Updated 7:01 am, Wednesday, January 31, 2018

BP said it made two successful discoveries in the North Sea – one of which is with fellow Big Oil giants Royal Dutch Shell and Chevron. BP said it struck oil in its Capercaillie prospect in the central North Sea east of Scotland, as well as the northwestern corner of the North Sea in the Achmelvich well, the latter of which is the partnership with Shell and Chevron. The discoveries lend optimism to a slowly rebounding offshore energy sector, especially in the North Sea that’s so critical for Europe’s oil supplies. 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 says to sell its stake in Thai Bongkot fields to PTTEP for $750 million

Chayut SetboonsarngFlorence Tan: 31 JAN 2018

BANGKOK/SINGAPORE (Reuters) – Royal Dutch Shell said on Wednesday that it will sell its stake in the Bongkot gas field and adjoining acreage offshore Thailand to PTT Exploration & Production PCL for $750 million before tax. The deal with PTTEP comes after Shell in October canceled a $900 million agreement to sell the same gas field stakes to Kuwait Foreign Petroleum Exploration Company (KUFPEC). “The two deal values are not comparable and we will not comment further on any commercial terms,” a Shell spokeswoman said in an e-mail when asked about the discrepancy between the price tags in the two sale accords. In a statement, Shell said, “This sale takes Shell a step closer to its divestment target of $30 billion” of non-core assets. The transaction is expected to be completed in the second quarter, both companies 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

Oil Boom Gives the U.S. a New Edge in Energy and Diplomacy

A pump jack in a Permian Basin oil field in West Texas. The area has been a focus of the shale drilling boom. Credit Spencer Platt/Getty Images North America

HOUSTON — A substantial rise in oil prices in recent months has led to a resurgence in American oil production, enabling the country to challenge the dominance of Saudi Arabia and dampen price pressures at the pump. The success has come in the face of efforts by Saudi Arabia and its oil allies to undercut the shale drilling spree in the United States. Those strategies backfired and ultimately ended up benefiting the oil industry. Overcoming three years of slumping prices proved the resiliency of the shale boom. Energy companies and their financial backers were able to weather market turmoil — and the maneuvers of the global oil cartel — by adjusting exploration and extraction techniques. 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

The top five oil and gas trends for 2018

COLE LATIMER: JANUARY 28 2018 – 4:23PM

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

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

Shell buying spree cranks up race for clean energy

People take pictures of a high-efficiency petrol-burning concept car as it is unveiled by Royal Dutch Shell during a ceremony in Beijing, China April 22, 2016. REUTERS/Damir Sagolj

Ron Bousso, Clara Denina: JANUARY 26, 2018

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) has spent over $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its carbon footprint. The scale of the buying spree pales in comparison to the Anglo-Dutch company’s $25 billion annual spending budget. But its first forays into the solar and retail power sectors for many years shows a growing urgency to develop cleaner energy businesses. 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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