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Shell, Total representatives arrive in Tehran

Jan 16th, 2016
by John Donovan.
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Shell, Total representatives arrive in Tehran

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TEHRAN, Jan. 16 (MNA) – Representatives of several world’s oil giants have traveled to Iran on the verge of the removal of international sanctions.

A few days before the cancellation of international sanctions against Iran, a number of the largest oil companies including the Anglo-Dutch Royal Dutch Shell company and France’s Total Corporation have sent representatives to Iran in order to negotiation with Iranian oil authorities.

Accordingly, the visiting representatives are scheduled to hold talks with the officials of National Iranian Oil Company (NIOC) as well as National Iranian Tanker Company (NITC) on Sunday discussing venues for boosting bilateral ties. read more

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Oil prices will get worse before they get better: Analysts

Jan 14th, 2016
by John Donovan.
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By Tom DiChristopher: 13 Jan 2016

After U.S. crude prices broke below $30 per barrel for the first time in 15 years, the market is asking how low oil futures can go? Most analyses see it rebounding in the back half of 2016, but crude faces significant headwinds in the coming months, experts told CNBC.

On Monday, Morgan Stanley joined Goldman Sachs in saying oil prices could dip to $20, and a number of major banks cut their crude cost outlook this week. Standard Chartered even raised the specter of $10 oil.

Oil as low as $20 — and perhaps even lower — is indeed possible, said Matt Smith, ClipperData’s director of commodity research. read more

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NIOC, Shell reach final agreement on debt settlement

Jan 4th, 2016
by John Donovan.
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TEHRAN, Jan. 04 (MNA) – Iran’s NIOC and Anglo-Dutch Shell have reached the final agreement on how to settle the outstanding 2.3-billion-dollar debt.

Upon conducting several negotiations between officials of the National Iranian Oil Company (NIOC) and the Anglo–Dutch Royal Dutch Shell, the two sides eventually reached a consensus of how to pay off the unpaid debt worth 2.3 billion dollars.

Seyed Mohsen Ghamsari, Executive Director for International Affairs at National Iranian Oil Company, confirmed the reaching of an accord with the Shell oil company adding “the resumption of Iran’s crude oil sales to the company remains subject to the payment of previous debts.” read more

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Oil Prices Could Collapse To $20

Dec 28th, 2015
by John Donovan.
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By Tyler Durden

Extracts from extracts…

Could oil prices collapse to $20? 

The short answer is ‘yes.’

We believe that crude oil prices could fall further unless global oil production is reduced. As shown in Table 2, we estimate that the global oil market could be oversupplied by roughly 920,000 bpd in 2016. The key assumptions are year-over-year growth in global demand of 1.2 million bpd, Saudi Arabia, Iraq and Libya hold production at current levels, Iran ramps up production at moderate pace over the course of the year and the U.S. rig count remains at current levels. read more

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Oil Majors Queue in Iran as $30 Billion of Projects in Play

Nov 28th, 2015
by John Donovan.
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by Golnar Motevalli, Anthony Dipaola and Hashem Kalantari: November 28, 2015: Bloomberg.com

  • Shell, Total, Lukoil interested in specific Iranian fields

  • Iran seeks to sign first oil development deal in March, April

Total SA, Royal Dutch Shell Plc and Lukoil PJSC are among international companies that have selected oil and natural gas deposits to develop in Iran as the holder of the world’s fourth-largest crude reserves presents $30 billion worth of projects to investors.

Total is one of the companies that have been in the forefront of discussions and Eni SpA is also looking to invest, Oil Minister Bijan Namdar Zanganeh said. Shell, Total and Lukoil all specified fields they would be interested in developing in Iran, Ali Kardor, deputy director of investment and financing at National Iranian Oil Co. said in an interview in Tehran. read more

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Shell joins queue of investors waiting on Iran oil contracts

Nov 23rd, 2015
by John Donovan.
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Robin Pagnamenta read more

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Shell and BP make new inroads in Iran

Oct 3rd, 2015
by John Donovan.
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Saeed Kamali Dehghan and Terry Macalister

Friday 2 October 2015 20.30 BST

The possibility of a major British oil company regaining access to one of the world’s great hydrocarbon markets rose on Friday with officials in Tehran saying Shell would be allowed to build 100 petrol stations in Iran.

FULL ARTICLE

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TEHRAN, Oct. 3 (MNA) – A number of senior executives of the Anglo-Dutch Shell Oil Company have travelled to Iran to meet and talk with the officials at the National Iranian Oil Company (NIOC).

Accordingly, the senior managers of Royal Dutch Shell Company, commonly known as Shell, are scheduled to stay in Tehran for four days to meet and talk with authorities of NIOC, Oil Ministry’s officials as well as some investors in the private sector. read more

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Iran to allow construction of 100 Total and Shell gas stations

Sep 19th, 2015
by John Donovan.
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18 Sept 2015

Total and Shell have been given the green light to build 100 gas stations across Iran in the near future, after approval by government officials. This will be the first time foreign branded gas stations will operate in the country.

The 100 gas stations, which also received the approval from Bijan Haj Mohammad Reza, the chairman of the trade union of Iran’s filling station, will spread across different Iranian regions, according to Iranian news website Oilnews.

“For the first time Iran’s Petroleum Ministry will give permission for the construction of gasoline stations under any brand in the country,” he said. read more

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Iraq Asks Oil Companies to Cut Spending After Drop in Prices

Sep 15th, 2015
by John Donovan.
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By Khalid Al Ansary: September 15, 2015

Iraq asked oil companies to reduce their 2016 spending plans in the country by Sept. 30, citing lower oil prices and government revenue.

The reduced budgets shouldn’t affect 2015 production, Abdul Mahdy Al-Ameedi, director of licensing at Iraq’s oil ministry, said by phone Tuesday, citing a letter that the ministry sent to companies. Iraq is now producing more than 3 million barrels a day, he said.

“We’ve asked them in a letter we sent them to take into consideration the drop in oil prices and the low revenues of the government that may not cover their investments,” al-Ameedi said. “There was a stipulation that this investment reduction must not affect oil output from the fields that was in the 2015 schedule.” read more

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Shell CEO: The World Will Need More Oil

Sep 8th, 2015
by John Donovan.
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By Julia Limitone: Published September 08, 2015

During an interview with FOX Business Network’s Maria Bartiromo, Royal Dutch Shell’s (RDS.A) CEO Ben van Beurden said the company is responding with “vigor and determination” to cope with lower oil prices.

“We started off the slide in oil prices with a low gearing 12.4%. Since then, we have been cutting our operating costs, our capital spent quit considerably — $4 billion OPEX, $7 billion capital costs — that’s about a year of dividends that we have saved in a year’s time,” he said. read more

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BG Group share price: Gap between market valuation and Shell offer widens

Aug 27th, 2015
by John Donovan.
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…the growing gap between the offer value and the market value indicates increasing investor anxiety over the merger, thus markets are beginning to question the deal’s prospects of success…

by Veselin Valchev: 26 Aug 2015

BG Group Plc’s (LON:BG) share price is sliding further away from the proposed offer by larger London-listed energy peer Royal Dutch Shell, signalling fading investor confidence that the deal will complete as planned, the Financial Times reported earlier this week.

BG’s share price had slipped 1.38 percent to 947.30p as of 14:01 BST today, underperforming the FTSE 100 which was flat. This compares with Shell’s proposed price of about 1,106p (383p in cash plus 0.4454 Shell B shares per BG share), equating to a discount of about 14.4 percent. At one point on ‘Black Monday’, traders cited by FT said that the spread widened to as much as 17 percent. read more

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Opec powerless to halt oil price slide, warns former group president

Aug 24th, 2015
by John Donovan.
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Opec veteran says that current oil prices slump has exceeded the worst expectations of the group

By Andrew Critchlow, Commodities editor: 24 Aug 2015

Opec is powerless to arrest the slide in oil prices unless producers outside the group such as Russia match any cuts in output, according to a former president of the group.

‘Black Monday’: £91bn wiped off FTSE 100 as China fears spark global markets crash

With oil prices plummeting due to global oversupply, the Organisation of the Petroleum Exporting Countries (Opec) would be unable to stabilise the market on its own, Abdullah bin Hamad Al-Attiyah told The Telegraph on Monday. The group – which is mainly comprised of Middle Eastern and South American oil producers – would need agreement from other oil-producing nations. read more

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Iran to Raise Oil Output ‘at Any Cost’ to Defend Market Share

Aug 23rd, 2015
by John Donovan.
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Screen Shot 2015-08-04 at 22.49.59U.S. benchmark West Texas Intermediate crude fell to less than $40 a barrel for the first time in more than six years in New York trading on Friday.

Anthony Dipaola and Hashem Kalantari: BLOOMBERG.COM: 23 AUGUST 2015

Iran plans to raise oil production “at any cost” to defend the country’s market share and joins calls for an emergency OPEC meeting to help shore up crude prices.

“We will be raising our oil production at any cost and we have no other alternative,” said Oil Minister Bijan Namdar Zanganeh, according to his ministry’s news website Shana. “If Iran’s oil production hike is not done promptly, we will be losing our market share permanently.”

Iran had the second-biggest output in the Organization of Petroleum Exporting Countries before U.S.-led sanctions banning the purchase, transport, finance and insuring of its crude began July 2012. Oil producers such as BP Plc and Royal Dutch Shell Plc have expressed interest in developing its reserves, the world’s fourth-biggest, once sanctions are removed. 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.

People will remember Shell Oil as a symbol of planet-destroying greed

Aug 7th, 2015
by John Donovan.
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Bill McKibben: Thursday, August 6, 2015 

Shell Oil’s icebreaker Fennica is apparently on its way to the Arctic, ending a dramatic week-long siege that saw activists dangle from bridges and blockade the Portland harbor with kayaks, and a federal court threaten environmentalists with heavy fines.

Amid the drama of the action, and the drama of the courtroom, and the outpouring of thanks for activists from Greenpeace, Rising Tide, 350PDX and others, one more thing is worth remembering: There is no more contemptible company on earth than Shell Oil. 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.

Shell, Eni say look to return to Iran

Aug 1st, 2015
by John Donovan.
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Fri Jul 31, 2015

Royal Dutch Shell and Italy’s largest oil producer Eni say they are looking to return to projects in Iran’s upstream oil and gas sectors. 

“For us, (Iran) is a huge gas province so it would be good to be there — in conventional gas — at the right terms,” Shell’s financial chief Simon Henry said in London.

The company has a history of activities in Iran’s upstream projects, including in South Pars, but the firm pulled out of the world’s largest gas field’s Phase 13 development in 2008.    read more

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Iran releases list of oil money debtors

Jul 26th, 2015
by John Donovan.
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The oil major Royal Dutch Shell owes Tehran $2.8 billion while it made a net loss of $6 million trading Iranian oil in 2012.

TEHRAN, Jul. 26 (MNA) – Iran’s Central Bank and National Oil Company released the list of companies and refineries owing oil dues to Iran.

During the period US and European sanctions prevented international banks from transferring money to the Islamic Republic, billions of Iran’s oil revenues were frozen in banks overseas.

In a joint statement released by the Central Bank of Iran (CBI) and the National Iranian Oil Company (NIOC) the oil giants and refineries owing to Iran were listed, in which some Greek refineries, British-Dutch-owned Shell refineries, BP, South Korean Petrochemical and Polymer Company, along with Indian refineries top the list of Iran’s oil debtors. 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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