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Asia will drive growth for Shell, says CEO

Nov 1st, 2011
by John Donovan.
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Devjyot Ghoshal

Energy-hungry Asia will remain the major growth driver for Shell, though the region’s appetite may diminish slightly next year owing to global uncertainties, the Dutch oil and gas major’s chief executive officer, Peter Voser, said on Monday.

“I think Asia-Pacific for us is the key growth region. We see a lot of growth, and, hopefully, enough growth, that can actually drive the worldwide economy coming out of Asia-Pacific,” Voser said on the sidelines of the Singapore International Energy Week. read more

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Can BP’s investors give oil giant the time to learn from Shell’s mistakes?

Jul 30th, 2011
by John Donovan.
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Results clouded by rivals and identity crisis! Titanic court battle looms for oil company! Executives may face charges!

By Rowena Mason: 9:33PM BST 30 Jul 2011

If those headlines were meant for readers in 2011, the subject could be only one sorry corporate story: BP and its $40bn (£24bn) Gulf of Mexico oil disaster.

However, the real answer lies six years earlier in another just as painful oil scandal that hit BP’s nearest rival, Royal Dutch Shell. This was the heated reaction to news that Shell had over-stated its oil reserves by a third in the years leading to 2004.

Downgrade after downgrade kept hitting the company’s share price until matters came to a head over an email from Shell’s head of exploration to the chief executive. read more

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The black gold Shell sold for peanuts

Jul 28th, 2011
by John Donovan.
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From a Shell retiree

Hello John

You may want to have a look here:

http://www.cairnindia.com/IR/Pages/QuarterResult.

A few years ago Shell got rid of this acreage for peanuts because it was not worth having.

Cairn thought differently….

Extracts from related articles:

(1): Its site in Rajasthan, India, bought from Shell for next to nothing, has turned into a significant oil find. More recently, Cairn has negotiated a deal with India’s Oil & Natural Gas Corporation (ONGC) that allows it to participate in a joint venture to build a major refinery in Rajasthan. Given India’s growing power, this is likely to become a rather valuable asset. read more

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Shell changes talent mix to meet energy market challenges

Jun 11th, 2011
by John Donovan.
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Skilled recruitment continued as 7,000 people laid off

Royal Dutch Shell has continued recruiting despite laying off up to 7,000 staff in the past few years as it continuously “reprofiles” its talent mix, its HR chief HR has said.

Hugh Mitchell (right), Shell’s chief HR and corporate officer, told the Economist’s Talent Management Summit yesterday that as demand for energy increases worldwide, employers in the sector face a “phenomenal” skills challenge.

New energy demands from countries such as China and India are putting more pressure on the industry to get the right talent, he told delegates at the London event. read more

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Royal Dutch Shell Sells Refinery, Other Assets To Essar For $1.3B

Mar 29th, 2011
by John Donovan.
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MARCH 29, 2011

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA.LN) Tuesday announced it has signed a sales and purchase agreement for its 270,000 barrel-per-day Stanlow refinery in the U.K. and certain associated local marketing businesses with Essar Oil Ltd. for $1.3 billion.

MAIN FACTS:

-The proposed sale covers oil products, chemicals manufacturing and access rights to certain distribution terminal assets, plus the commercial fuels bulk fuels and local marine fuels businesses associated with the refinery. read more

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Shell poised to sell Stanlow oil refinery to Indians in £700m deal

Mar 20th, 2011
by John Donovan.
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By Tom Mcghie
Last updated at 10:15 PM on 19th March 2011

Attractive prospects: Stanlow oil refinery in Cheshire has huge storage depots

Shell is to sell its Stanlow oil refinery, the second-biggest in Britain, to fledgling Indian energy giant Essar Energy in a deal worth more than £700 million.

The refinery on the 1,900-acre site in Ellesmere Port, Cheshire, will be sold for £217 million while the oil and petrol in the refinery will be sold off separately for nearly £500 million.

When the deal is completed all 960 workers will be retained and, in an unusual concession by an employer, will be able to keep their generous and increasingly rare final salary pension scheme. read more

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Essar Energy, Shell may sign U.K. refinery pact

Feb 18th, 2011
by John Donovan.
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Feb. 18, 2011, 2:08 a.m. EST

By Eric Yep

MUMBAI (MarketWatch) — India’s Essar Energy PLC (ESSR.LN) is likely to sign an initial agreement this week for a possible acquisition of Royal Dutch Shell PLC’s (RDSB.LN) Stanlow refinery in the U.K., a person with direct knowledge of the matter said Friday.

London-listed Essar Energy and Shell are in the final stages of discussions and will likely announce exclusive talks on the refinery sale this week, the person, who declined to be named, told Dow Jones Newswires. read more

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Essar Oil to buy Shell UK unit for $350-400 mln – sources

Feb 17th, 2011
by John Donovan.
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By Indulal P.M.

MUMBAI | Thu Feb 17, 2011 11:09am IST

(Reuters) – Indian refiner Essar Oil is set to buy Royal Dutch Shell’s Stanlow refinery in the United Kingdom for about $350 million to $400 million, two sources with direct knowledge of the development told Reuters.

The two companies have agreed on the terms and an announcement is expected soon, said the sources, who declined to be named as they were not authorised to speak to the media before an official announcement. read more

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Shell Said to Offer Gazprom Assets to Gain LNG Plant Expansion

Feb 8th, 2011
by John Donovan.
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By Anna Shiryaevskaya – Feb 7, 2011 9:00 PM GMT+0000

Royal Dutch Shell Plc may offer OAO Gazprom assets in Asia in exchange for a deal to expand Russia’s only liquefied gas export plant, part of talks on a wider global alliance, said people with knowledge of the negotiations.

Shell wants to add a third liquefied natural gas production unit at the $22 billion Sakhalin-2 venture north of Japan, raising output 50 percent. The Hague-based company is selecting overseas assets to win support from Gazprom, said three people, declining to be identified because the plans are private. Shell may gain access to new offshore blocks to supply the plant. read more

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Essar finalises to buy Shell’s UK refinery for $350 mn

Jan 20th, 2011
by John Donovan.
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19 Jan, 2011, 03.17PM IST, Darshan Mehta,ET

MUMBAI: Essar Oil has finalised the acquisition of Shell’s Stanlow refinery in UK for $350 million dollars, a source close to the deal told ET NOW. The Stanlow refinery is part of the Royal Dutch Shell group with a capacity of 2.37 lk barrels per day. The deal will be announced in the first week of February.

As per the deal, Essar will pay $50 million on signing of the deal, another $100 mn on closing of the deal and $100 mn dollars each in the next 2 years after closing the deal. With crude prices over $91 per barrel, the refining business is becoming more attractive and the sector as such is seeing a turnaround on higher energy demand. European companies are selling their non profitable plants to cut expenses and they fit into Indian refiners global strategy of expansion. read more

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Essar bids for Shell’s Stanlow refinery -union rep

Dec 21st, 2010
by John Donovan.
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Reuters Africa

Tue Dec 21, 2010 1:17pm GMT

* Essar makes bid, given deadline to make firm offer

* Shell will withdraw plant from sale if no deal

* Shell continues to withdraw from European refining

By Tom Bergin

LONDON, Dec 21 (Reuters) – Royal Dutch Shell Plc has told employees at its Stanlow refinery that India’s Essar group has made a “credible” bid for the plant, a union official said.

A Shell spokesman confirmed that the Anglo-Dutch oil giant was in talks with Essar and had given the group until the end of February to come up with a firm bid. read more

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Essar Energy Still In Talks With Shell To Buy Europe Refineries

Aug 19th, 2010
by John Donovan.
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THE WALL STREET JOURNAL

AUGUST 19, 2010

LONDON (Dow Jones)–India’s Essar Energy PLC (ESSR.LN) is still in talks with oil major Royal Dutch Shell PLC (RDSB.LN) to buy refineries in Europe, Essar’s vice chairman Prashant Ruia said Thursday.

“Our discussions with Shell are still very much on,” Ruia told reporters on a conference call.

Shell entered talks with Essar over the sale of the three refineries–Stanlow in the U.K. and the Heide and Harburg refineries in Germany–late last year. read more

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Cairn Energy’s $8.5 billion Mid-Life Crisis

Aug 17th, 2010
by John Donovan.
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Cairn bought the exploration licenses in Rajasthan from Royal Dutch Shell, who believed the properties contained no oil, in 1997 for just $7 million.

THE WALL STREET JOURNAL

By James Herron

Instead of settling into the respectable middle tier of global oil producers as its major oil discoveries in Rajasthan, India, gradually come onstream, the U.K.-listed Cairn Energy has decided to do the oil industry equivalent of selling the Volvo, buying a Harley and cruising off into the sunset.

Cairn Energy will sell the bulk of its stake in Cairn India, which owns and operates the Rajasthan fields, to metals and mining company Vedanta Resources. Cairn Chief Executive Sir Bill Gammell leaves behind dreary subjects like pipeline maintenance and enhanced oil recovery and will instead focus his company’s resources on the exciting business of exploring for new fields. read more

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The giant oil field in India sold for a song by Shell

Aug 15th, 2010
by John Donovan.
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“…sold for a song by accident-prone Royal Dutch Shell yielded Cairn one of the country’s largest-ever finds and catapulted it into the FTSE 100.”

SUNDAY TELEGRAPH

Cairn shareholders set for £1bn windfall when Indian oil fields are sold to Vedanta

Shareholders in Cairn Energy are in line for a windfall of at least £1bn, with the oil explorer close to completing a £5bn deal to sell its giant Indian oil fields to Vedanta Resources.

By Rowena Mason
Published: 10:58PM BST 14 Aug 2010

The Greenland explorer may confirm the move to sell a 51pc stake to London-listed Vedanta as early as today, after last-minute talks throughout the day yesterday.

Sir Bill Gammell, the chief executive of Cairn, would receive a minimum of £2m from his 0.2pc stake in the explorer if the pay-out were as low as £1bn.

Most investors expect the amount of money given back to them to run into multiple billions, however. The final cash return has not yet been finalised. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan. There is also a Wikipedia segment.

Anger grows across the world at the real price of ‘frontier oil’

Jun 20th, 2010
by John Donovan.
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guardian.co.uk home

The Observer home

Far from the Gulf of Mexico, campaigners are accusing energy companies of destroying land and livelihoods in the search for increasingly scarce resources

A woman hurries away from the heat of a gas flare near a flow station belonging to Shell in Warri, Nigeria. Photograph: George Osodi/AP

Richard Wachman and John Stibbs Sunday 20 June 2010

The eyes of the world are on BP after the disaster that left oil spewing into the Gulf of Mexico at the rate of 50,000 gallons a day. But campaigners accuse Big Oil of an appalling track record elsewhere in the world, saying it leaves a trail of devastation in its wake.

From Nigeria to Kazakhstan in Central Asia, and Colombia and Ecuador in South America, the oil majors stand accused of a blatant disregard for local communities and the environments in which they operate. read more

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Shell to Seek 800 Million-Euro Offers for LPG Unit

Feb 23rd, 2010
by John Donovan.
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BusinessWeek Logo

By Anne-Sylvaine Chassany and Fred Pals

Feb. 23 (Bloomberg) — Royal Dutch Shell Plc, which is seeking to focus on exploration and production, may sell its liquefied petroleum gas distribution unit, four people with knowledge of the plan said.

Shell hired Credit Suisse Group AG to manage a sale of the division, which is valued at more than 800 million euros ($1.1 billion), said three of the people, who declined to be identified because the talks are private. The company sent information last week to potential bidders including private equity firms, they said. Rainer Winzenried, a spokesman for The Hague-based Shell, declined to comment. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan. There is also a Wikipedia segment.
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