Mar 8th, 2013
by John Donovan.

Thu Mar 7, 2013 4:40am EST
* High costs, low returns of Empty Quarter gas search
* Development terms the problem-sources
* Shell says talks with Saudi government continue
By Reem Shamseddine and Amena Bakr
KHOBAR/DUBAI, March 7 (Reuters) – Royal Dutch Shell is set to pull out soon from a joint venture that has searched for gas in Saudi Arabia’s Empty Quarter for years, due to disagreements with the government over terms, four industry sources familiar with the matter said.
The gas search has been a top priority for Saudi Arabia as it struggles to keep pace with rapidly rising domestic demand for energy, but the shale revolution has opened up more lucrative opportunities for energy companies elsewhere. read more
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Feb 27th, 2013
by John Donovan.

Associated Press: Published February 26, 2013
AMSTERDAM – Royal Dutch Shell says it has struck a deal with Spain’s Repsol SA to buy Repsol’s liquefied natural gas assets in Peru and Trinidad & Tobago in a deal worth $6.2 billion.
Shell said it would pay $4.4 billion in cash and assume $1.8 billion in Repsol debt and other obligations.
The deal also includes a gas-fueled power plant in Spain.
For Shell, Europe’s largest oil company, the deal builds on an already strong specialization in LNG. More than half of Shell’s production comes from natural gas, rather than oil, and it has stakes in LNG facilities across the world. read more
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Feb 26th, 2013
by John Donovan.

Dow Jones Newswires: Published February 25, 2013
Spain’s Repsol SA may announce this week the sale of several of its liquefied natural gas assets to Royal Dutch Shell PLC for a total between 1.50 billion euros ($1.98 billion) and EUR1.7 billion, reports Expansion, citing financial sources.
Repsol’s regasification plant in Canada will be excluded from the sale to Shell, as it is operating below its capacity and likely would force Repsol to make provisions on that asset, the paper adds.
Repsol’s other LNG assets are located in Peru, Trinidad and Tobago and Spain. read more
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Jan 29th, 2013
by John Donovan.

By MarketWatch Jan. 28, 2013
The board of Spain’s Repsol SA will analyze and likely approve at its meeting Wednesday the sale of the oil company’s liquefied natural gas assets to Royal Dutch Shell, reports Cinco Dias in its Tuesday Internet edition, citing people close to the operation.
The company was initially looking to raise some 3 billion euros ($4 billion), but the final figure could be much lower, in the ballpark of EUR2 billion, the paper adds, citing the same sources.
Repsol’s LNG assets are located in Peru, Trinidad and Tobago, Canada and Spain. read more
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Aug 5th, 2012
by John Donovan.

August 5, 2012
Downbeat quarterly earnings from Europe’s major energy companies are a reminder that the bumper returns of two years ago are a long way from returning, as the sector expends time and money trying to secure new oil and gas fields.
While the market was braced for a drop in profits from a year ago, given that crude prices averaged 7% less than in the corresponding period in 2011, the scale of the future challenge faced by companies like BP PLC, Royal Dutch Shell PLC, Total SA and Eni SpA was yet again in evidence, analysts said. read more
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Jul 25th, 2012
by John Donovan.

Top Houston companies by market value

Posted on July 25, 2012 at 6:40 am by Bloomberg
The world’s largest oil companies are poised to report a drop in second-quarter earnings after crude prices declined for the first time in three years.
Exxon Mobil Corp. (XOM), the world’s biggest oil company by market value, will probably say tomorrow net income dropped 13 percent from a year earlier to $9.3 billion dollars, based on the average of five analysts’ estimates compiled by Bloomberg. Royal Dutch Shell Plc (RDSA), Europe’s top oil producer, is expected to see profit decline 4 percent after adjusting for certain gains and losses. read more
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Dec 8th, 2011
by John Donovan.

By Katarzyna Klimasinska – Dec 7, 2011 11:08 PM GMT
Repsol YPF SA (REP), Royal Dutch Shell Plc (RDSA) and ConocoPhillips (COP) are among the high bidders for oil leases offered by the State of Alaska.
The state Department of Natural Resources sold leases today for 281,095 acres in the Beaufort Sea and 335,289 acres on the North Slope, to boost oil exploration and production and push more crude through the Trans Alaska Pipeline.
Repsol of Madrid, Spains largest oil company, bid $2.6 million for North Slope tracts and $376,256 for Beaufort leases. Shell of The Hague offered $2.6 million for access to the Beaufort Sea, where it has holdings purchased from the federal government in 2005. Conoco, based in Houston, will pay $2.7 million for access to North Slope lands, according to an interim sale report from the state. read more
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Dec 8th, 2011
by John Donovan.

Alex DeMarban | Dec 07, 2011
State officials called Alaska’s much-awaited oil and gas lease sale a qualified success on Wednesday, noting that 19 groups spent $21 million.
Still, the state must keep working to roughly double the flow of oil in the trans-Alaska pipeline and meet Gov. Sean Parnell’s goal of 1 million barrels a day, said Dan Sullivan, Natural Resources commissioner.
According to Sullivan, good news from Wednesday’s state lease sale includes:
Shell Oil snatched up 80,000 acres in state waters of the Beaufort Sea, some 60 miles west of their closest federal lease. If commercial quantities of oil and gas are found in that area in Harrison Bay, Shell might be able to build “synergies” by developing both state and federal areas, said Curtis Smith, spokesman for the oil giant in Alaska. read more
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Dec 8th, 2011
by John Donovan.
Curtis Smith, spokesman for Shell in Alaska, said the company continues to concentrate on its exploration plans in federal waters of the Beaufort and Chukchi Seas but is seeking to diversify its offshore operations.
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Dec 8th, 2008
by John Donovan.
Lukoil's Spanish ambitions probably derive in part from the same calculation that has underlain many companies' foreign expansion since the Yukos affair: that owning high-profile assets internationally is insurance against Kremlin assault.
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Nov 26th, 2008
by John Donovan.
Anglo-Dutch oil major Shell escaped a potential fine of 96 million euros because it blew the whistle first to the EU competition authorities.
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Oct 4th, 2008
by John Donovan.
A fine of more than £500m has been slapped on a group of leading energy companies including ExxonMobil and npower's parent, RWE, after the whistle was blown on a price-fixing cartel by Shell.
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Oct 2nd, 2008
by John Donovan.
Oct 2nd, 2008
by John Donovan.
The aggregate 676m penalty would have been even higher but for the fact that Shell eventually blew the whistle on the price-fixing deal. This earned it full immunity from any fine, which would otherwise have cost it close to 100m.
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Oct 2nd, 2008
by John Donovan.
The Commission made dawn raids on the companies three years ago after Shell, one of its members, blew the whistle on the illegal activities. Shell escaped a possible fine because it provided the Commission investigators with the initial vital information.
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Sep 28th, 2008
by John Donovan.
The national oil companies of Russia, China and India are all running the slide rule over a 5 billion euro stake that has been put up for auction in Repsol, the Spanish oil giant. European majors also known to be taking a look include Royal Dutch Shell, Total of France and Italys Eni.
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