Royal Dutch Shell Plc  .com Rotating Header Image

Posts Tagged ‘Russia’

Putin Swoop on Gas Plant Risks Forcing Foreign Partners Out

yahoo!finance

Putin Swoop on Gas Plant Risks Forcing Foreign Partners Out

(Bloomberg) — President Vladimir Putin signed a decree to transfer rights to the Sakhalin-2 natural gas project to a new Russian company, a move that could force foreign owners including Shell Plc to abandon their investment in the facility.

The decree cites threats to Russia’s national interests and economic security, according to a statement dated June 30, issued by the Kremlin and signed by Putin. Stakeholders have one month to say whether they’ll take a holding in the new company, and those who opt out may not be fully compensated, the statement said.

The move could prove complicated for Shell, which holds a 27.5% stake in the liquefied natural gas facility in Russia’s far east. The energy giant announced it would exit the project after Russia invaded Ukraine, and also said it wouldn’t commit to any new investments in the country.

Chief Executive Officer Ben van Beurden said earlier this week that Shell is making progress selling its stake, which Wood Mackenzie estimates is worth $4.1 billion. China’s key state-run energy companies are in talks with Shell to buy its stake in the project, people familiar with the details said in April.

Shell is aware of the decree and is assessing its implications, the company said in a statement.

The world is already grappling with surging fuel prices as Putin steps up the use of gas as a weapon, and any effort by Moscow to take over energy assets could rile markets further. Most western energy firms are trying leave Russian projects, but are struggling to find willing buyers. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Kremlin orders seizure of gas facility which Shell has 27 per cent stake in worth £3.4bn

CITYA.M.

Kremlin orders seizure of gas facility which Shell has 27 per cent stake in worth £3.4bn

Russia’s President Vladimir Putin has ordered the seizure of a gas facility in the county which UK firm Shell has a 27 per cent stake in.

The Kremlin signed a decree to take control of rights of the Sakhalin-2 plant, which will be transferred into Russian hands.

This comes as Moscow continues to come under severe economic pressure with sanctions, while countries including the UK, Germany and other EU states have been urged to stop buying fuel from Russia, amid its war against Ukraine. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Russia moves to take control of Sakhalin-2 oil and gas project

BBC News

Russia moves to take control of Sakhalin-2 oil and gas project

1 JULY 2022

Russia has moved to take over a major oil and gas project in which Shell has a 27.5% stake.

Russian President Vladimir Putin signed a decree on Thursday to take charge of the Sakhalin-2 project.

The move could force Shell and Japan’s Mitsui and Mitsubishi to abandon their investments as the economic fallout of the Ukraine war spreads.

Oil giant Shell said: “We are aware of the decree and are assessing its implications.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell Chief Paints Bleak Picture on Global Energy Supply

Shell Chief Paints Bleak Picture on Global Energy Supply

The world is heading for a “turbulent period” as tightening supplies of liquefied natural gas and oil exacerbate a global energy crunch, Shell Plc Chief Executive Officer Ben van Beurden said.

Bloomberg News: Jun 29, 2022: Sharon Cho, Stephen Stapczynski and Laura Hurst

(Bloomberg) — The world is heading for a “turbulent period” as tightening supplies of liquefied natural gas and oil exacerbate a global energy crunch, Shell Plc Chief Executive Officer Ben van Beurden said.

Speaking in Singapore, the CEO painted a bleak picture of an energy supply that will struggle to replace large swathes of Russian oil and gas that still flow into Europe. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell says Prelude LNG shipments disrupted until at least mid-July

FINANCIAL POST

Shell says Prelude LNG shipments disrupted until at least mid-July

REUTERS: Jun 28, 2022

SYDNEY/MELBOURNE — Shell Plc said on Wednesday liquefied natural gas (LNG) shipments from its Prelude floating LNG facility off northwest Australia will be disrupted until at least mid-July due to work bans by unions fighting for better pay.

“We have issued a notice to customers that cargoes will be impacted until at least mid-July due to the industrial action,” a Shell spokesperson said in an emailed comment.

The loading disruption at the 3.6 million tonnes-a-year Prelude floating LNG facility comes just three months after Prelude resumed shipping LNG following a four-month shutdown due to a major power failure.

Workers on Prelude began 12 days of industrial action on June 10 over a pay dispute. They are set to vote on a new offer from Shell on July 7. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s Jackdaw gas field given go-ahead by regulators

BBC NEWS

Shell’s Jackdaw gas field given go-ahead by regulators

By Justin Rowlatt: Climate editor:

June 1st, 2022

The development of a major North Sea gas field has been approved by regulators.

The Jackdaw field, east of Aberdeen, has the potential to produce 6.5% of Britain’s gas output.

The regulatory approval comes as the UK government seeks to boost domestic energy output following Russia’s invasion of Ukraine.

Shell’s proposals were initially rejected on environmental grounds in October. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Gazprom cutting gas supplies to Shell affects small volumes in Germany-regulator

yahoo!finance

Gazprom cutting gas supplies to Shell affects small volumes in Germany-regulator

Wed, June 1, 2022, 8:02 AM

FRANKFURT, June 1 (Reuters) – Gazprom’s decision to cut off gas supplies to Shell Energy only affects small volumes in Germany, the country’s network regulator said, adding they could be replaced from other sources.

“Security of supply is currently guaranteed. According to our information, only small quantities are affected, which can be procured elsewhere. We are monitoring the situation very closely,” the Bundesnetzagentur said. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Gazprom cuts gas supply to Orsted and Shell Energy

REUTERS

Gazprom cuts gas supply to Orsted and Shell Energy

June 1, 2022

June 1 (Reuters) – Russian gas producer Gazprom (GAZP.MM) has cut off gas supplies to Denmark’s Orsted (ORSTED.CO) and to Shell Energy (SHEL.L) for its contract to supply gas to Germany, it said on Wednesday, citing the companies’ failure to make payments in roubles.

Reporting by Reuters and by Christoph Steitz in Frankfurt, Stine Jacobsen in Copenhagen Editing by Jason Neely and David Goodman SOURCE
shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Europe lurches closer to energy crisis as Kremlin cuts off gas supply to Shell

The Telegraph

Europe lurches closer to energy crisis as Kremlin cuts off gas supply to Shell

British company loses access to Russian fuel following refusal to pay in roubles

Europe lurched closer to an energy crisis on Tuesday after the Kremlin cut off gas supplies to major buyers including Shell.

Russia’s state-owned gas supplier, Gazprom, said supplies to Shell in Germany as well as to Ørsted in Denmark will be cut off on Wednesday after they refused to bow to Putin’s demands to pay in roubles. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell refuses to set up Gazprom account as it continues Russian withdrawal

CITYA.M.

Shell refuses to set up Gazprom account as it continues Russian withdrawal

:

Energy giant Shell has confirmed it will not set up a rouble account, under new terms demanded by Kremlin-backed giant Gazprom.

This means it will no longer be contracting Russian gas to fulfil its contracts to European households, including its customers in Germany.

A Shell spokesperson told City A.M.: “Shell has not agreed to new payment terms set out by Gazprom, including the creation of K accounts. We will work to continue supplying our customers in Europe through our diverse portfolio of gas supply. Shell continues to work on a phased withdrawal from Russian hydrocarbons, in compliance with applicable laws and regulations.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Exclusive-Shell in talks with Indian consortium to sell Russian LNG plant stake -sources

Reuters

Exclusive-Shell in talks with Indian consortium to sell Russian LNG plant stake -sources

LONDON (Reuters) -Shell is in talks with a consortium of Indian energy companies to sell its stake in a major liquefied natural gas plant in Russia, three sources told Reuters, highlighting India’s willingness to step into the space left by Western companies following Moscow’s invasion of Ukraine.

The world’s third-largest oil importer and consumer has already stepped up purchases of Russian supplies since the conflict began in February, taking advantage of big discounts at a time when global oil prices have surged.

The sources said Shell has recently entered into talks with a group of Indian companies, including ONGC Videsh and Gail, over its 27.5% stake in the Sakhalin-2 LNG plant on Russia’s eastern flank.

Shell declined to comment. ONGC, Gail and other state-run Indian companies did not respond to Reuters’ request for comment.

The talks follow the British company’s plans to exit all its Russian operations, amid an exodus of Western companies from the country in response to sanctions over the Ukraine conflict. India has not explicitly condemned Moscow’s actions there.

India has snapped up cheap Russian oil, taking its share of Russian oil exports to around 10% from zero since the start of this year, according to the International Energy Agency. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell: ‘We understand worry for millions – but windfall tax creates uncertainty’

CITYA.M.

Shell: ‘We understand worry for millions – but windfall tax creates uncertainty’

 and : FRIDAY 27 MAY 2022

Shell has slammed the government’s windfall tax, saying while it “understands the worry for million” about the cost of living it will creates “uncertainty” about investment.

This follows Chancellor Rishi Sunak announcing a so-called Energy Profits Levy, a 25 per cent surcharge on North Sea oil and gas sector profits, which could last for up to three years.

The Treasury expects the tax will raise around £5bn over the next 12 months – which will help fund a £15bn package to save the country’s most vulnerable households £1,200 this year.

After BP said the tax may force it to reconsider its UK investment plans, Shell is the latest energy giant to come out against the levy.

A spokesperson told City A.M. : “We understand the worry for millions of people about how high energy costs are challenging their household budgets – and the need for support to help make ends meet.” read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

I worked at Shell for 33 years – the government is wrong on North Sea oil

SOURCE MSN/Independent

I worked at Shell for 33 years – the government is wrong on North Sea oil

By Grahame Buss: 27 May 2022

I was a principal scientist for the oil company Shell, for which I worked for 33 years. I have a degree in aeronautical engineering and a PhD in fluid mechanics.

I recently read a letter from the business and energy secretary, Kwasi Kwarteng, in which he tries to justify government plans to encourage investment in new North Sea oil and gas. He says it would “protect Britain’s energy security” and smooth the “transition to cheap, clean, home-grown energy”, as well as cutting energy bills.

But expanding North Sea oil will do none of those things, for several reasons.

We don’t own the oil and gas, which we give away to energy companies together with substantial subsidies. They sell the oil and gas to the highest bidder on international markets, keep all the revenue, and are currently making eye-watering profits on which they pay almost no tax. Almost 80 per cent of UK production of crude oil is exported and plays no part in our domestic energy security.

We don’t own the companies that exploit this oil and gas. According to one study, more than a third of the licence blocks in the North Sea now have a private or state-backed controlling interest, with fossil fuel firms from China, Russia and the Middle East playing an increasingly dominant role. As well as being unaccountable to UK shareholders, these businesses have no strategic interest in UK energy security or in keeping bills low for UK households. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell signs agreement to sell retail and lubricants businesses in Russia

Shell signs agreement to sell retail and lubricants businesses in Russia

May 12, 2022

Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij – subsidiaries of Shell plc – have signed an agreement to sell Shell Neft LLC, which owns Shell’s retail and lubricants businesses in Russia, to PJSC LUKOIL.

The deal includes 411 retail stations, mainly located in the Central and Northwestern regions of Russia, and the Torzhok lubricants blending plant, around 200 kilometres north-west of Moscow. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell sells Russian retail business to Lukoil

REUTERS

Shell sells Russian retail business to Lukoil

May 12 (Reuters) – Russia’s second-largest oil producer Lukoil (LKOH.MM) will buy Shell’s (SHEL.L) Russian retail and lubricants businesses, the companies said on Thursday, as the British oil major moves ahead with its exit from the country following its Ukraine invasion.

The deal includes 411 retail stations, mainly located in the Central and Northwestern regions of Russia, and the Torzhok lubricants blending plant, Shell said in a statement.

“The acquisition of Shell’s high-quality businesses in Russia fits well into Lukoil’s strategy to develop its priority sales channels, including retail, as well as the lubricants business,” said Maxim Donde, a vice-president with Lukoil.

Neither Shell, nor Lukoil would not comment on the value of the deal, which still requires the approval of Russia’s anti-monopoly authorities. read more

“Under this deal, more than 350 people currently employed by Shell Neft will transfer to the new owner of this business,” Shell said. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Dan Loeb adds to Shell stake despite doubling down on break-up calls

CITYA.M.

Dan Loeb adds to Shell stake despite doubling down on break-up calls

: SUNDAY 08 MAY 2022 12:29 PM

Activist investor Daniel Loeb has revealed he has added to his stake in energy giant Shell despite doubling down on calls for a shake-up to the energy major’s corporate structure.

Loeb, who revealed in October that his hedge fund Third Point had taken $750m stake in Shell, told his investors last week that he had upped his stake in the firm and had held discussions with the firm’s bosses. read more

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