Royal Dutch Shell Plc  .com Rotating Header Image

Posts Tagged ‘Oil Prices’

Shell prepares for major production cuts to refocus on green strategy

Shell prepares for major production cuts to refocus on green strategy

Kumutha Ramanathan: Contributor: Yahoo Finance UK

Royal Dutch Shell (RDSB.L) is looking to cut up to 40% off its costs related to producing oil and gas as it focuses on the renewable energy and power markets.

That’s according to a source who spoke exclusively to Reuters.

The project is known internally as Project Reshape and is expected to be completed by the end of this year, said Monday’s report. There will be three main divisions of the business that are impacted by the cuts and they will reportedly be in addition to a $4bn (£3.1bn) target set in the wake of the COVID-19 crisis. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Exclusive: Shell launches major cost-cutting drive to prepare for energy transition

Exclusive: Shell launches major cost-cutting drive to prepare for energy transition

LONDON (Reuters) – Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters.

Shell’s new cost-cutting review, known internally as Project Reshape and expected to be completed this year, will affect its three main divisions and any savings will come on top of a $4 billion target set in the wake of the COVID-19 crisis. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell cuts back on fracking to fund renewable energy drive

The international oil giant will cut about 40pc of overheads including staff…

Shell cuts back on fracking to fund renewable energy drive

The oil giant is seeking to free up investment for early-stage carbon capture and hydrogen projects

Falling oil and gas prices due to the pandemic have taken the shine off many assets and triggered heavy write-downs.

Shell is making deep cuts in its fracking business as it tries to free up cash to cope with the pandemic and invest in renewable energy. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Big Oil just isn’t as big as it once was

Big Oil just isn’t as big as it once was

ExxonMobil’s expulsion from the Dow Jones industrial average is just the latest sign that major oil companies aren’t as important to the economy as they used to be

By Dino Grandoni: September 4, 2020 at 12:00 p.m. GMT+1

A dozen years ago, ExxonMobil was the bluest of blue-chip companies. Raking in record-breaking profit, it spent every quarter of 2008 as the world’s most valuable publicly traded company.

Not anymore. The oil giant’s market value today is a third of what it was in 2008, when it was worth over $500 billion. That slide culminated last month with Exxon ending its 92-year run on the Dow Jones industrial average. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

An update on climate change litigation

An update on climate change litigation – no signs of cooling

Katharina Theil considers progress on legal moves around the world to bring companies to account for their contribution to climate change.

The COVID-19 pandemic has profoundly changed many aspects of our daily lives. However, one issue that remains firmly on the agenda is the urgent need for action to mitigate the worst consequences of climate change.

As the UK emerges from lockdown, the UK Committee on Climate Change has urged the Government to tackle the climate emergency in its attempt to revive the economy and has called for ‘a green, resilient COVID-19 recovery’. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Is Big Oil Still a Big Deal?

By Julian Lee | Bloomberg: August 30, 2020 at 7:36 a.m. GMT+1 From Monday there will be just one oil company in the Dow Jones Industrial Average — Chevron Corp. The removal of Exxon Mobil Corp. from the index after an uninterrupted presence since 1928 shouldn’t come as a surprise. It’s not the end of Big Oil, but it may signal the start of the beginning of the end.

It may seem odd to remove one of only two oil companies in the index at a time when the shale boom has transformed America’s role in the global market. After all, the U.S. now produces more oil and more natural gas than any other country. Last year’s domestic oil production was up by 125% from levels in 2010, while gas output has increased by 60%.

But those figures only tell part of the story, and not the most important part.

It’s not the first time that there’s only been one oil and gas company in the Dow. The last time was between 2000 and 2008, when Exxon was the sole industry representative. Before that you have to go back to the 1920s. For a brief period of two weeks in 1924, there were none at all. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Unpleasant surprises gush from Royal Dutch Shell

Ian Cowie: Oops, many of my share clangers have now turned into catastrophes

Ian Cowie: The Sunday Times. Page 13 of Business&Money section. 

EXTRACTS

Because this column aims to report the rough as well as the smooth of stock market investment, it’s important to ‘fess up to my failures frequently. Also, let’s be honest, some of you enjoy my losers more than my winners.

Sad to say, the coronavirus crisis has blighted many businesses, and investors in them. Please don’t laugh, but several shares I dubbed “Cowie’s Clangers” in earlier reports — because their price fell by more than 10 per cent after I invested — could now be called “Cowie’s Catastrophes”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Looney’s bombshell announcement

Peter Evans: Sunday August 23 2020: The Sunday Times Extracts

When BP’s chief executive, Bernard Looney, said he would cut the oil giant’s dividend in half earlier this month, he might have expected a backlash from the pension funds that rely on the £1.6bn quarterly payout. In the event, it caused little more than a ripple of interest. Nor was much attention paid to BP’s record $17.7bn (£13.5bn) loss, incurred over just three months and which compared with a profit of $1.8bn in the same period a year earlier.

Instead, the headlines were dominated by one of the most dramatic strategy shifts ever announced by a FTSE 100 company. BP, Looney said, would become a “very different energy company” as it increased tenfold its investment in low-carbon energy, while reducing oil and gas output by a billion barrels a day. much of the legacy oil business will be sold in the next five years and replaced by renewable energy generation. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Why Royal Dutch Shell Outperformed Expectations in Q2 2020

Why Royal Dutch Shell Outperformed Expectations in Q2 2020

Europe’s top oil company had a few tricks up its sleeve.

John Bromels John Bromels: (TMFTruth2Power): Aug 24, 2020  

It’s been a horrible earnings season for most top oil and gas companies. Oil supermajors ExxonMobilChevron, and  all did worse than expected in Q2 2020 as low oil prices forced drastic spending cuts and the coronavirus pandemic destroyed demand.

Bucking the trend was Royal Dutch Shell (NYSE:RDS.A)(NYSE:RDS.B), which managed to squeak out an adjusted profit of $0.16 per share, versus analysts’ expectations of a $0.31-per-share loss. As surprising as it was to see a profit — even on an adjusted basis — out of the oil industry, even Shell couldn’t pump oil profitably in Q2. Instead, it made money another way. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Big Oil Asset Write-Downs Are Not The End Of The Oil Age

Big Oil Asset Write-Downs Are Not The End Of The Oil Age

Tilak Doshi: Energy: Aug 23, 2020

Climate change activists have long lobbied for divestment from fossil fuel-producing companies. They have largely failed in this quest. This year, the steep falls in the value of the large oil and gas companies, however, occurred with a rapidity that astonished market watchers. Within weeks, the coronavirus pandemic and the oil market-share battle between Saudi Arabia and Russia launched after the collapse of the OPEC+ talks in early March led to unprecedented falls in Big Oil equity. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Europe’s Big Oil Companies Aim To Become Big Energy

Europe’s Big Oil Companies Aim To Become Big Energy

By Haley Zaremba – Aug 19, 2020, 12:00 PM CDT

Big Oil’s most profitable business is no longer oil. This attention-grabbing headline published by Oilprice.com earlier this month may be dramatic, but it’s not hyperbole – it’s the truth. “Even as oil demand and prices have recovered, the tried and true economic model is no longer a failsafe option for oil and gas companies,” reads the article. “Pumping crude just isn’t paying the bills.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Beginning Of The End Of Oil & Gas Exploration?

By Alex Kimani – Aug 17, 2020, 7:00 PM CDT

Booms and bust cycles are very much a part of investing in the fossil fuel sector. In previous energy downturns, prices frequently experienced serious slumps, but oil and gas companies mostly kept faith in their biggest asset: Oil and gas reserves buried deep in the groundBut things are markedly different this time around.

Faced with pandemic-driven demand destruction and a relentless call for climate-conscious and ethical investing, oil executives are resigning themselves to the uncomfortable fact that a significant amount of their vast oil and gas reserves will end up totally worthless. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil companies wipe $87bn off value of fossil fuel reserves as demand plunges during pandemic

With oil prices expected to stay low, big producers are grappling with lower profits and the prospect of a quicker transition to renewable energy

Ben Chapman @b_c_chapman: 18 August 2020

Seven of the world’s largest oil firms have wiped almost $90bn (£69bn) off the value of their fossil fuel reserves as the coronavirus pandemic sent demand plunging.

Royal Dutch Shell, BP, Total, Chevron, Repsol, Eni and Equinor have written down their oil and gas assets by $87bn over the past nine months, with $55bn coming in the latest financial quarter, analysis by climate think tank Carbon Tracker found. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Norway’s wealth fund lost $21 billion in first half of 2020

Norway’s wealth fund lost $21 billion in first half of 2020

Gwladys FoucheTerje Solsvik: AUGUST 18, 2020

OSLO (Reuters) – Norway’s $1.15 trillion sovereign wealth fund posted a loss of 188 billion Norwegian crowns ($21.27 billion) in the first half of 2020 as stocks and real estate holdings fell in value during the COVID-19 pandemic, it said on Tuesday.

The world’s largest sovereign wealth fund holds stakes in some 9,200 companies globally, owning 1.5% of all listed stocks. It also invests in bonds and real estate.

For a graphic on Top 10 sovereign wealth funds Top 10 sovereign wealth funds: read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell unit shuts Philippine refinery as pandemic slashes margins

Shell unit shuts Philippine refinery as pandemic slashes margins

FILE PHOTO: Residents transport commuters and soda bottles on tricycles past a Shell petrol station in Las Pinas, Metro Manila, January 26, 2016. REUTERS/Erik De Castro

Enrico Dela Cruz: AUGUST 13, 2020

MANILA (Reuters) – The Philippine unit of Royal Dutch Shell said on Tuesday it will permanently shut one of the country’s two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow, according to analysts. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Exclusive: BP poised to sell ‘stranded assets’ even if oil prices rally

Exclusive: BP poised to sell ‘stranded assets’ even if oil prices rally

By Ron Bousso and Dmitry Zhdannikov: AUGUST 7, 2020

…There will be no way back for the British energy company once it has offloaded its so-called stranded oil and gas assets.

LONDON (Reuters) – BP is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the COVID-19 crash because it wants to invest more in renewable energy, three sources familiar with BP’s thinking said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
%d bloggers like this: