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Is Gazprom’s LNG Megaproject Doomed To Fail?

Viktor Katona: Oilprice.com April 4, 2020

The gas giant Gazprom is no longer in the spotlight after the US Treasury sanctioned Rosneft, the Russian national oil company, most probably triggering the collapse of the OPEC+ agreement and bringing about an unexpectedly low pricing environment for March 2020 within both the oil and gas segments. Having launched Power of Siberia to China, Gazprom is now intent on bringing Nord Stream-2 online before the end of the year, moving its own pipe-laying vessel from the Russian Far East to the Baltic region to deliver on all its major promises from the 2010s. Yet there is one project that has had significant problems starting up, combining in itself all the deficiencies of modern-day Russia. 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.

NIGERIAN FARMERS ENVIRONMENTAL CASES AGAINST SHELL

Thousands of barrels of oil spouted out of the broken pipeline at Bodo for 10 weeks before Shell finally clamped it on 7 November 2008. © CEHRD

Pastor Christian Kpandei contemplates the damage done to his fish farm in Bodo, Nigeria, May 2011. The farm flourished before the August 2008 oil spill, but the pollution destroyed his fish farm, leaving him and his workers without a regular income. © Amnesty International

3.2.1 FOUR FARMERS’ CASES

The first of the pollution-related cases marked the first time that any Dutch company had been sued in the Dutch court for the operations of its subsidiaries overseas.

In 2008, four Nigerian farmers (Eric Barizaa Dooh, Fidelis Ayoro Oguru, Alali Efanga and Friday Alfred Akpan), along with Milieudefensie, the Dutch section of Friends of the Earth, filed claims against RDS and SPDC.44

They are seeking to obtain compensation for alleged damage to fish ponds and land caused by oil spills from two underground pipelines and an oil well operated by Shell in the villages of Goi, Ikot Ada Udo and Oruma between 2004 and 2007.45 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.

CNBC: Royal Dutch Shell reskills workers in artificial intelligence as part of huge energy transition

Susan Caminiti@SUSANCAMINITI KEY POINTS
  • Royal Dutch Shell is collaborating with Udacity to digitally train its workers in artificial intelligence.
  • This began long before the coronavirus pandemic and the company continues to use this training method.
  • The digital workforce skilling platform may become the training method of choice for a growing number of companies who need to keep employees up to speed in the weeks and months ahead.

Working at Royal Dutch Shell’s Deepwater division in New Orleans gives Barbara Waelde a front-row seat to how the right data can unlock crucial information for the oil giant. So when her supervisor asked her last year if she was interested in a program that could sharpen her digital and data science capabilities, Waelde, 55, jumped at the chance.

Since she began her online coursework, the seven-year Shell veteran has learned Python programming, supervised learning algorithms and data modeling, among other skills. 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 surges as $12B credit facility boosts dividend hopes

|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

Royal Dutch Shell (RDS.A +5.6%) opens with strong gains after saying it expects only a “relatively minor” impact from the coronavirus on overall demand for its oil products during Q1.

Shell sees oil products sales volumes at 6M-7M bbl/day for the quarter, compared with 6.5M bbl/day in the year-earlier period, with Q1 upstream oil and gas production estimated at 2.65M-2.72M boe/day, with margins affected by the weak environment.

The company says it has secured a new $12B credit facility as it seeks to safeguard dividends, which follows a $10B facility obtained in December, combining to boost available liquidity to more than $40B. 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.

Friday, 3rd April, Global Witness online event: The Oil Heist of the Century…

MESSAGE FROM GLOBAL WITNESS REGARDING SHELL/ENI OPL 245 CORRUPTION CASE

An online event this Friday

On Friday, Global Witness is hosting a virtual event, The Oil Heist of the Century: Journey around the world in search for truth and accountabilityas part of the Skoll World Forum alongside our partners Olanrewaju Suraju the Chair of the Nigerian NGO Human and Environmental Development Agenda (HEDA) and Antonio Tricarico a Director of Italian NGO Re:Common.

The event will take place on Friday 3rd April at 4pm BST, 5pm CET, 4pm WAT.

We will tell the story of infamous Shell and Eni corruption case that Global Witness and partners has been investigating and exposing for many years. It will take you on a journey around the world from an oil field in Nigeria via London and Abuja to a courthouse in Milan. 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 pulls out of U.S. Lake Charles LNG project, Energy Transfer delays FID

UPDATE 2-Shell pulls out of U.S. Lake Charles LNG project, Energy Transfer delays FID

Ron Bousso, Shradha Singh: MARCH 30, 2020 

* Energy Transfer delays FID from late 2020 to early 2021

* Shell relinquishes 50% stake amid spending cuts

* Decision comes after collapse in oil prices 

By Ron Bousso and Shradha Singh

March 30 (Reuters) – Royal Dutch Shell Plc pulled out of a major liquefied natural gas (LNG) export plant under development in Louisiana following the recent crash in oil and natural gas prices that has forced the company to make deep spending cuts.

Energy Transfer LP, which was developing the project with Shell, said it remains focused on the commercial development of Lake Charles and is working toward making an early 2021 final investment decision (FID) to build the plant. 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.

Amnesty International: Environmental cases against Shell

Oil pollution in Kegbara-Dere (K-Dere) community in Ogoniland, Rivers State, Niger Delta, Nigeria. This community has experienced multiple oil spills since Shell started operations there in the 1960s. September 2015. © Michael Uwemedimo/cmapping.net
Shell’s pipelines in Ogoniland are old and poorly maintained. There have been several spills and in 2009 there was a huge fire, at the Bomu Manifold, at K. Dere, Rivers state. September 2015. © Michael Uwemedimo/cmapping.net
Dead periwinkles covered in oily mud from Bodo creek, Nigeria, May 2011. There were two massives spills in August 2009 from a poorly maintained Shell pipeline. © Amnesty International
Signboard warning people not to enter stream that has been contaminated by oil spills, Ogale, Rivers State, Nigeria. Every year there are hundreds of spills in the Niger Delta, and clean-up is often slow and ineffective. © Amnesty International

3.2 ENVIRONMENTAL CASES (Pages 16, 17, 18 & 10)

There are three separate legal proceedings taking place against Shell in Dutch and British courts relating to oil pollution. This has devastated the Niger Delta.

Data from Shell’s own spill incident reports reveal that from 2011-18 the company reported a huge number of spills – 1,010 – along the network of pipelines and wells that it operates.25 Spills have a variety of causes – from third-party tampering, to operational faults and corrosion of aged facilities. Shell blames most spills on theft and pipeline sabotage, and are not due to its own negligence.26 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.

MOSOP call for the Exoneration of Ken Saro-Wiwa and Others

The Ogoni Case is a Simple Demand for Basic Rights and Justice – MOSOP

Call for the Exoneration of Ken Saro-Wiwa and Others

The Movement for the Survival of the Ogoni People (MOSOP) says all the Ogoni people want in Nigeria is respect for the rights of the people and justice. President of MOSOP, Fegalo Nsuke made this known yesterday in Port Harcourt in a speech to mark the 24th anniversary of the U.N Secretary General’s fact-finding mission to Ogoni which noted that the Special Tribunal which ordered the murder of Ken Saro-Wiwa had no jurisdiction to try Saro-Wiwa and the others.

Nsuke said it was shameful that Nigeria’s response to a simple and justifiable demand for basic rights and justice by the Ogoni people in Nigeria was repression by state security forces and the hounding by Shell through its agents which led to the death of thousands of innocent Ogonis. 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.

Energy companies slash another $19 billion as oil price remain near 20-year lows

Photo of Sergio Chapa March 24, 2020 Updated: March 24, 2020 7:02 a.m.

Eleven energy companies over the past several days said they would cut a combined $18.6 billion dollars from their budgets as oil prices remain near 20-year lows, setting the stage for tens of thousands additional layoffs.

West Texas Intermediate crude closed at $23.36 per barrel Monday, a price not seen since March 2002 as Russia and Saudi Arabia flood global markets and the coronavirus pandemic crushes demand.

Energy companies big and small — including Conoco Phillips, Exxon Mobil, Marathon Oil, Hess and Halliburton — have responded by slashing spending for new projects and operations, halting stock buy back programs, putting deals on hold and selling assets. 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.

OilPrice.com: Prepare For The Next Wave Of Oil Bankruptcies

Alex Kimani: Oilprice.com March 24, 2020

Last year, the energy industry was rocked by record bankruptcies and write-downs that did not spare even the oil majors. According to Energy and Restructuring law firm Hayes and Boone’s, a grand total of 50 energy companies filed for bankruptcy last year, including 33 oil and gas producers, 15 oilfield services companies and two midstream companies.

Meanwhile, Chevron Corp., Schlumberger, and Royal Dutch Shell announced multi-billion dollar asset impairments citing unfavorable macro outlook. 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.

Reuters: Big Oil may have to break dividend taboo as debt spirals, investors say

PUBLISHED WED, MAR 25 20205:14 AM EDT

KEY POINTS
  • The world’s biggest oil and gas firms should break an industry taboo and consider cutting dividends as they weather the fallout from the pandemic, investors say.
  • Investors prefer the dividend cut to companies taking on any more debt to maintain payouts.
  • The top five so-called oil majors have avoided reducing dividends for years to keep investors sweet and added a combined $25 billion to debt levels in 2019 to maintain capital spending, while giving back billions to shareholders.

The world’s biggest oil and gas firms should break an industry taboo and consider cutting dividends, rather than taking on any more debt to maintain payouts as they weather the fallout from the coronavirus pandemic, investors say.

The top five so-called oil majors have avoided reducing dividends for years to keep investors sweet and added a combined $25 billion to debt levels in 2019 to maintain capital spending, while giving back billions to shareholders. 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.

British Parliament pension fund cuts fossil fuel investments

Parliament’s pension fund has made record investments in renewable energy and cut its exposure to fossil fuel companies to bring MPs’ pensions in line with the government’s climate action targets.

The move is a victory for the 360 serving and former MPs who have been pushing for the pension fund’s investments to fall in line with the government’s climate agenda.

The annual report showed that the fund has decreased its investment in BP by almost two-thirds in the past year, to £4.4m, and cut its holdings in Shell by a quarter, to £8m. 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 joins other oil giants in slashing spending after coronavirus and ‘oil war’ between Russia and Saudi Arabia causes prices to collapse

Royal Dutch Shell has announced it is planning to save at least $8billion in the coming year following the huge fall in oil prices.

The world’s ninth-largest company by revenue says capital expenditures are to be scaled back by $5billion. At the same time, underlying operating costs will be cut by at least $3billion to help cope with the impact of the coronavirus.

It still plans to go ahead with their $10billion divestment programme but have cancelled the next tranche of their share buyback programme. 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.

Litigation: KIOBEL AND OTHERS V SHELL

Esther Kiobel and Victoria Bera sit with their lawyer as a Dutch court hears the first arguments in an historic case against Shell, in which the oil giant stands accused of instigating a raft of horrifying human rights violations committed by the Nigerian government against the Ogoni people in the 1990s, on February 12, 2019 in The Hague, Netherlands. © Pierre Crom/Getty Images

 KIOBEL AND OTHERS V SHELL

Shell’s operations in the Niger Delta were first, and most effectively, put under the spotlight in the 1990s by Ken Saro-Wiwa, an acclaimed Nigerian writer. Saro-Wiwa led a community organisation in his home area, Ogoniland, called the Movement for the Survival of the Ogoni People (MOSOP). MOSOP said that while outsiders had grown rich on the oil that was pumped from under their soil, pollution from oil spills and gas flaring had, “led to the complete degradation of the Ogoni environment, turning our homeland into an ecological disaster.”10 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.

Reuters: Shell cuts 2020 spending by $5 billion, suspends share buyback

REUTERS: Ron Bousso: MARCH 23, 2020

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) will lower spending by $5 billion and suspended its vast $25 billion share buyback plan in an effort to weather the recent collapse in oil prices, it said on Monday.

The Anlgo-Dutch oil major said it would reduce capital expenditure to $20 billion or below from a planned level of about $25 billion while seeking to reduce operating costs by an additional $3 billion to $4 billion over the next 12 months.

The cuts are expected to boost Shell’s cash generation by between $8 billion and $9 billion on a pre-tax basis. 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 acts to reinforce business resilience and financial strength

Shell acts to reinforce business resilience and financial strength

Mar 23, 2020

As the COVID-19 virus spreads across the world – seriously impacting people’s health, our way of life and global markets – Shell is putting the safety and health of our people and customers first, along with the safe operations of all our businesses.

At the same time, we are taking decisive action to reinforce the financial strength and resilience of our business so that we are well-positioned for the eventual economic recovery.

“As well as protecting our staff and customers in this difficult time, we are also taking immediate steps to ensure the financial strength and resilience of our business,” said Ben van Beurden, Chief Executive Officer of Royal Dutch Shell. “The combination of steeply falling oil demand and rapidly increasing supply may be unique, but Shell has weathered market volatility many times in the past.” 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.
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