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Netherlands To Shut Down Europe’s Largest Gas Field

OILPRICE.COM

Netherlands To Shut Down Europe’s Largest Gas Field

The Dutch government plans to close the Groningen gas field this year despite Europe’s precarious supply position. Groningen is the largest gas field in Europe.

The field is dangerous, a government official from the Hague told the Financial Times, and the government has no plans to boost production from it.

“We won’t open up more because of the safety issues,” Hans Vijbrief told the FT. “It is politically totally unviable. But apart from that, I’m not going to do it because it means that you increase the chances of earthquakes, which I don’t want to be responsible for.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s Prelude FLNG Restarts First Cargo Since Fire

The most recent incident happened only a year after a similar fire forced the vessel to go down for nearly five months.

Shell’s Prelude FLNG Restarts First Cargo Since Fire

Shell SHEL recently announced the restart of liquefied natural gas LNG cargoes from its Prelude floating LNG FLNG facility offshore Australia, following a temporary fire-related technical outage in December.

According to Shell, the fire was promptly put out and the area was declared safe; it also stated that no one was hurt and all of the facility’s workers were safe and well.

Following a small fire at the 3.6M metric tons/year facility, Prelude, the largest floating plant for natural gas liquefaction in the world, had paused its gas production last month due to an ongoing investigation. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

theguardian.com/uk

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

The fossil fuel firm Shell has set aside more than $450m (£367m) to invest in carbon offsetting projects, and plans to spend the equivalent of half the current market for nature offsets every year, the Guardian can reveal.

But a joint investigation by the Guardian, Die Zeit and Source Material into Verra, the world’s leading carbon standard for the rapidly growing $2bn voluntary offsets market, has found, based on analysis of a significant percentage of the projects, that more than 90% of their rainforest offset credits – among the most commonly used by companies – are likely to be “phantom credits” and do not represent genuine carbon reductions. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Prelude Fires

RIGZONE

Prelude FLNG Loads Out First Cargo Since Fire

by Bojan Lepic| Rigzone Staff| Wednesday, January 18, 2023

Even though Shell has not confirmed any restart on its massive Prelude FLNG, Reuters reported that the Methane Becki Anne LNG tanker has begun loading.

The Methane Becki Anne was the first LNG tanker to berth at Shell’s Prelude floating LNG site off Western Australia since it was shut down after a fire.

According to Reuters, the LNG carrier vessel berthed at the Prelude plant on January 17, Refinitiv ship-tracking data showed. Refinitiv’s data also showed that LNG has already begun loading. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s Prelude FLNG in Australia Still Offline After December Fire

naturalgasintel.com

Shell’s Prelude FLNG in Australia Still Offline After December Fire

BY : January 12, 2023 Royal Dutch Shell plc’s Prelude floating LNG (FLNG) vessel offshore Western Australia remains offline more than three weeks after another fire broke out on board. 

Shell said a small fire was detected on Dec. 21 in a turbine enclosure and quickly extinguished. However, liquefied natural gas production was suspended pending an investigation, the company said. 

“We are working methodically through the stages in the process to recommence production with safety and stability foremost in mind,” a Shell spokesperson told NGI. 

The company also is working with regulators to restart operations, but there is no timeline.  read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Oil giant Shell to pay tax in UK for first time in six years amid huge profits

Daily Record

Oil giant Shell to pay tax in UK for first time in six years amid huge profits

The firm made 9.5 billion dollars in profit in just three months last year.

By Rory Cassidy: Daily Record Reporter: 22:18, 6 JAN 2023

Oil giant Shell is set to pay tax in the Uk for the first time in six years.

The firm, which last paid money to HMRC in 2017, will fork out after making huge global profits last year. The energy firm said it expected to “take a hit” of around $2bn (£1.7bn) on profits in the UK and the European Union in the final three months of the year. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell to take $2 billion fourth-quarter tax hit after new EU, UK levies

cnbc

Shell to take $2 billion fourth-quarter tax hit after new EU, UK levies

KEY POINTS

  • Shell expects a fourth-quarter tax hit of $2 billion, following additional levies in the U.K. and European Union.

  • The company expects “significantly higher” results from its liquefied natural gas trading performance in the fourth quarter, compared with July-September.

  • Shell will release its final fourth-quarter results on Feb. 2.

Oil and gas major Shell said Friday it expects to take a $2 billion hit for the fourth quarter as a result of new taxes in the European Union and U.K.

“The Q4′22 earnings impact of recently announced additional taxes in the EU (the solidarity contribution) and the deferred tax impact from the increased UK Energy Profits Levy is expected to be around $2 billion,” the company said in a trading update.

The EU agreed in September that oil and gas companies will pay a levy on surplus profits made in 2022 or 2023. The “solidarity contribution” will see firms pay 33% of profits above their average taxable profits. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell suspends production at Prelude FLNG after fire breaks out

Report: Output from Shell’s Prelude FLNG Shut Again

BY Bartolomej Tomic, managing editor of Offshore Engineer.

December 22, 2022

Shell has stopped production at its Prelude floating LNG plant off Western Australia after a fire.

A Shell spokesperson told Reuters on Thursday that the fire at the giant FLNG unit “was rapidly extinguished.”

The 488-meter-long, Shell-operated, Prelude FLNG unit forms part of an offshore development that produces natural gas from the remote namesake field, located approximately 475 km north-northeast of Broome in Western Australia. The Prelude is the world’s largest FLNG unit. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Ben van Beurden on The Sunday Times Business Person of the Year 2022 Shortlist

The Sunday Times Business Person of the Year 2022: The shortlist

The Sunday Times

In a year buffeted by war, falling markets and government upheaval, we present the shortlist for the business person who has stood out above the rest

Ben van Beurden, Shell

The Dutchman will call time on a 40-year career at Shell in 2023, having spent nine years in the hot seat. He gambled early in his tenure on the £36 billion takeover of gas giant BG Group, relocated Shell’s head office to London, and cut its dividend when the oil price tanked during Covid. But the company has surged this year on the back of higher oil prices stoked by the Ukraine war. Van Beurden, 64, leaves Shell in a fitter state and with plans to embrace green energy — read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell injects $1.5 bln into UK retail power business to help it weather volatility

REUTERS

Shell injects $1.5 bln into UK retail power business to help it weather volatility

Reuters: Ron Bousso: Dec 08, 2022

LONDON — Shell has injected nearly $1.5 billion into its British energy retail business this year to help it weather huge volatility in power prices that caused the collapse of several rival UK power utilities, Shell Energy said in a filing on Thursday.

Britain’s power utilities have been rocked by huge fluctuations in energy prices since the end of 2021 due to a shortage in natural gas supplies, which was exacerbated after Russia sharply reduced supplies to Europe following its invasion of Ukraine in February.

Shell Energy’s operating loss rose to 102.4 million pounds in 2021 from 83.6 million pounds a year earlier, according to the company’s financial results, released on Thursday.

The loss was “principally driven by market conditions. In particular, the unprecedented rise in energy prices in the latter part of 2021 adversely impacted financial performance, including increased costs as a result of supplier failures in the market and the inability to pass on higher energy costs,” according to the results filing. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Buys Nature Energy in $2 Billion Push Into Biogas

Shell Buys Nature Energy in $2 Billion Push Into Biogas

Shell Plc will buy Nature Energy Biogas A/S from hedge fund Davidson Kempner Capital Management for nearly $2 billion as the oil major expands its transition from fossil fuels.

Bloomberg News: William Mathis:

Publishing date: Nov 28, 2022

(Bloomberg) — Shell Plc will buy Nature Energy Biogas A/S from hedge fund Davidson Kempner Capital Management for nearly $2 billion as the oil major expands its transition from fossil fuels.

Biogas is chemically the same as conventional natural gas, but is made from decomposing organic material like agricultural waste. It’s a platform primed for growth, with the US, through the Inflation Reduction Act, and the European Union both identifying the renewable fuel as a way to boost energy supplies and cut emissions in the coming years. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell to acquire renewable natural gas producer Nature Energy

Shell to acquire renewable natural gas producer Nature Energy

Nov 28, 2022

Shell Petroleum NV, a wholly owned subsidiary of Shell plc (Shell), has reached an agreement with Davidson Kempner Capital Management LP, Pioneer Point Partners and Sampension to acquire 100% shareholding of Nature Energy Biogas A/S (Nature Energy) for nearly USD $2 billion (€ 1.9 billion). The acquisition will be absorbed within Shell’s current capital range, which remains unchanged.

Based in Denmark, Nature Energy is a producer of Renewable Natural Gas (RNG) from agricultural, industrial, and household wastes. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Hellish working conditions on board world’s biggest offshore gas site, Prelude

Hellish working conditions on board the world’s biggest offshore gas site, Prelude

The Sydney Morning Herald

‘Forensic, fair and fascinating’: WAtoday wins at media awards

By Daile Cross

Using information gathered through his unrivalled industry contact list, WAtoday business journalist Peter Milne exposed the hellish working conditions on board the world’s biggest offshore gas site, Prelude.

On Saturday night his exclusive reporting saw him win best Business, Economics or Finance report at the annual WA Media Awards, the state’s pre-eminent journalism awards. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Oil And Gas Giant Shell Signs Two-Year Sponsorship With Bitcoin Magazine

BITCOIN MAGAZINE

Oil And Gas Giant Shell Signs Two-Year Sponsorship With Bitcoin Magazine

Written by  for Bitcoin Magazine

Shell (NYSE: SHEL), one of the world’s largest oil and gas companies, has signed a two-year partnership with Bitcoin Magazine to sponsor the 2023 and 2024 Bitcoin Conferences.

Representatives from Shell will speak on the mining stage about improving the energy costs of bitcoin mining using the company’s own lubricant and cooling solutions.

Shell announced last August that it would be expanding into immersion cooling solutions to fuel its data centers. In the release, Shell explained that data centers, such as those used to mine bitcoin, account for 1% of global energy consumption, of which one-third of that comes from cooling solutions. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell CEO Confident on Long-Term LNG Demand

Shell CEO Confident on Long-Term LNG Demand

Shell Plc remains confident on the long-term outlook for LNG demand, especially in Europe, despite recent supply constraints, the company’s CEO Ben van Beurden and CFO Sinead Gorman concurred during a virtual webcast with various media outlets.

Shell’s LNG trading and optimization was “impacted by a combination of seasonality and supply constraints, where the business is geared towards supplying the northern hemisphere during the winter,” the company revealed in its third-quarter results.

Van Beurden continues to see LNG as a long-term growth segment with typical growth of 4% per annum and thinks the figure could be higher given higher energy consumption in Europe. In parallel with higher energy demand, the company has boosted its positioning in LNG in projects in Qatar from the North Field South and North Field East developments to Mexico, the executive said. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s Flagship LNG Trading Division Made Big Loss In Q3

OILPRICE.COM

Shell’s Flagship LNG Trading Division Made Big Loss In Q3

  • Reuters: Shell’s giant LNG trading division made $1 billion loss in Q3.

  • Gas trading divisions by Shell’s peers performed much better.

  • Nevertheless, Shell was still able to post its largest quarterly profit at $9.45B from $4.13B during last year’s corresponding period.

Shell Plc’s (NYSE: SHEL) flagship LNG trading division reported a loss of nearly $1B, sources have revealed to Reuters. The loss is attributed to serious whiplash after the company’s LNG traders were caught flat-footed by the surge in natural gas prices following Russia’s gas supply cuts to Europe. The latest revelation is, however, hardly surprising given that Shell has issued a weak update issued earlier in October. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.