News and information on Shell Plc
December 16, 2011, 2:21 AM EST
By James Paton
Dec. 16 (Bloomberg) — Arrow Energy Ltd., the natural gas producer owned by Royal Dutch Shell Plc and PetroChina Co., won approval from Australias Foreign Investment Review Board to buy Bow Energy Ltd. for A$535 million ($534 million).
The transaction was also cleared by Chinese authorities, Brisbane-based Bow said today in a statement. The decisions follow approval earlier this month by the Australian Competition & Consumer Commission.
By Tom Bergin
DOHA | Tue Dec 6, 2011 4:29am EST
(Reuters) – Royal Dutch Shell Plc has found shale gas in China, a development that could cap imports in a market natural gas producers are hoping will drive demand.
An official with Shell’s partner, PetroChina (601857.SS), a unit of the country’s top energy group, state-owned CNPC, said drilling results from two wells Shell drilled had been positive.
“Shell has two vertical wells and they got very good primary production,” Professor Yuzhang Liu, Vice president of Petrochina’s Research Institute of Petroleum Exploration and Development (RIPED), said in an interview at the sidelines of the World Petroleum Congress (WPC) in Doha.
The big question is: Can Shell keep riding this tiger? What prevents PetroChinas parent, CNPC, from exploiting the Western producer for what it wants and then tossing it aside or perhaps even taking it over?
November 16, 2011, 11:10 PM EST
By Stanley Reed and Dexter Roberts
The hilltop city of Yulin, about 500 miles southwest of Beijing, was once a strong point in the defensive wall that protected the Chinese heartland from the tribes to the north. An ancient fortress survives in the old part of the city, the Chinese characters for Suppress the Barbarians carved over its gate. Today, Yulins a boomtown in the oil- and gas-rich Ordos Basin. In the streets not far from the fortress walls, where men sell roasted goat heads from carts, young boys hand out brochures for apartment towers built for newly wealthy oil workers and coal miners. If fresh characters were carved into the old fortress gates now, they might say Resource Barbarians Welcome! Or they might simply be a pair of corporate logos: one for PetroChina (PTR), the publicly traded wing of CNPC, Chinas largest oil company, and a second for its foreign partner, Royal Dutch Shell, the second-largest Western oil company.
NOVEMBER 2, 2011, 4:52 A.M. ET
SYDNEYAustralia’s foreign-investment watchdog has pushed back by up to 90 days a decision on the takeover of coal-seam-gas developer Bow Energy Ltd. by a joint venture of Royal Dutch Shell PLC and PetroChina Co.
In a government notice to parliament, the Foreign Investment Review Board said it needed more time to decide whether to approve the 535 million Australian dollar (US$557 million) deal, which would enable Shell and PetroChina’s Arrow Energy venture to expand its proposed gas-export facility in Queensland state.
By James Paton – Aug 22, 2011 8:09 AM GMT+0100
Arrow Energy Ltd., owned by Royal Dutch Shell Plc (RDSA) and PetroChina Co., offered about A$520 million ($540 million) for Bow Energy Ltd. (BOW), seeking more resources to underpin a proposed liquefied natural gas project in Australia.
Arrow, a coal-seam gas explorer and producer in Queensland state, offered A$1.48 a share in cash, Brisbane-based Bow said today in a statement. Thats 67 percent more than Bows price of 88.5 cents in Sydney trading on Aug. 19. The shares surged 60 percent today to A$1.415 at the 4:10 p.m. close.
BEIJING -- PetroChina Co., China's biggest oil company, expects China's slumping prices will help it rein in costs and sees the global economic downturn as an opportunity for overseas mergers and acquisitions. Company executives said they are in talks with international oil majors including Anglo-Dutch Royal Dutch Shell PLC, Britain's BP PLC and U.S. major Chevron Corp., along with state-owned oil giants in Qatar and Venezuela. Shell, BP and Chevron declined comment on specific deals.
In late June, Shell signed a letter of intent with Qatar Petroleum International and PetroChina, China's top oil producer, to study a joint-venture refining and petrochemical complex. Qatar would supply the oil, Shell the technology and project-management expertise, and PetroChina distribution in the market.
PetroChina Co., the nation's biggest oil company, andRoyal Dutch Shell Plc started production at a well in Changbei gas field in the northwestern province of Shaanxi, according to parent China National Petroleum Corp.
PetroChina, Asia's top oil and gas producer and China's second-largest refinery, will own 51 percent in the proposed joint venture, while Shell and Qatar will each own 24.5 percent, said Shell and CNPC, parent of PetroChina.
Ten biggest (by market value) ExxonMobil, oil, $464bn Petrochina, oil, $407bn Gazprom, oil, $352bn General Electric, general industrial, $281bn China Mobile, mobile telecoms, $279bn Petrobras, oil, $278bn Microsoft, software, $265bn Industrial and Commercial Bank of China, banking, $252bn Royal Dutch Shell, oil, $252bn Wal-Mart, retailing, $227bn
By MATT POTTINGER
Staff Reporter of THE WALL STREET JOURNAL
August 15, 2005; Page C12
BEIJING — Its attempt to purchase Unocal has failed and its expansion strategy appears stuck.
So why is Cnooc performing so well on the stock market?
The share price of China’s No. 3 oil and natural gas producer touched an all-time high last week, closing Friday at HK$6.05 (78 U.S. cents) on the Hong Kong stock exchange. The stock has been buoyed by soaring crude-oil prices and by the removal of uncertainty surrounding Cnooc’s $18.5 billion bid for Unocal, analysts say. Cnooc withdrew the bid this month amid fierce opposition in the U.S. Congress, paving the way for rival bidder Chevron to acquire the El Segundo, California, oil company.
Monday 27 June 2005
By LESLIE P. NORTON
Emerging Markets
EVER SINCE ITS INITIAL public offering in 2001, China National Offshore Oil Corp., or Cnooc (ticker: CEO), has traded at a premium to the better- known PetroChina (PTR), notwithstanding billionaire Warren Buffett’s stake in the latter.
Growth prospects for Cnooc, which explores offshore for oil and gas, were perceived as superior. PetroChina was saddled with mature fields and difficult-to-extract reserves, as well as thousands of gas stations subject to price controls. The other Chinese oil stock, downstream play Sinopec (SNP), historically has traded at a discount to both.
Tue May 17, 2005
BEIJING (Reuters) – PetroChina and Royal Dutch/Shell said on Tuesday they would go ahead with the joint development of the China’s Changbei natural gas field, with Shell as the operator.
Development costs for the project over its full life cycle, including the drilling of around 50 wells over 10 years, central processing facilities and inter-field pipelines, are expected to reach around $600 million, the firms said in a joint statement.
The two have a production sharing contract for the field, which is spread across the Inner Mongolia autonomous region and Shaanxi province and has estimated reserves of 50 billion cubic metres.
17 May 2005
AMSTERDAM (AFX) – Royal Dutch/Shell Group and PetroChina Co Ltd said they have agreed to invest 600 mln usd developing the Changbei natural gas field in north China.
The field is located in Shaanxi Province and the Inner Mongolia Autonomous Region and is expected to deliver 3 bln cubic meters of gas per year by 2008, to the cities of Beijing, Shandong, Hebei and Tianjin.
Shell, which will be the operator of the project under a production sharing contract with PetroChina, today signed drilling and construction contracts for the field development.
By Enid Tsui in Hong Kong
Published: August 31 2004
Chen Tonghai, chairman of Sinopec, one of China’s big three oil companies, yesterday denied that his company had withdrawn from the controversial west-east gas pipeline project in China.
The statement, made at a press conference in Hong Kong, contradicted an August 5 filing by rival Petrochina, which claimed that the joint venture framework agreement signed by all potential investors in the project, including Royal Dutch/Shell and Exxon-Mobil, had been terminated.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
John Donovan, the website owner
This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. No advertising is accepted. It is an entirely free to use non-commercial website drawing attention to the negative side of Shell. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found here on WIKIMEDIA COMMONS. Use this link for Shell’s own website.
