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Posts Tagged ‘Woodside Petroleum’

Woodside Chairman Defends $2.7 Billion Buyback Deal With Shell

Screen Shot 2014-02-10 at 16.29.29Extracts from a BloombergBusinessweek article by James Paton and Rebecca Keenan published 23 July 2014

Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, defended a plan to buyback about $2.7 billion of stock from Royal Dutch Shell Plc (RDSA) amid concern investors may reject the deal.

Woodside’s buyback is part of last month’s $5 billion deal in which Shell, Europe’s largest oil company, will trim its 23 percent stake in the Australian company. It’s possible that Woodside investors voting on the transaction Aug. 1 will block the buyback, according to Macquarie Group Ltd. read more

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Are Asset Sales the Answer for Royal Dutch Shell plc?

Screen Shot 2014-06-23 at 11.37.41Extracts from a Motley Fool article by Arjun Sreekumar published 23 June 2014

On Monday, Shell announced the sale of a 19% stake in Woodside Petroleum, a deal that is expected to raise $5 billion. On Wednesday, the company announced that it had filed a registration statement with the U.S. Securities and Exchange Commission related to the proposed IPO of its pipeline subsidiary, which could raise up to $750 million. Due largely to ill-timed investments in U.S. shale, continued security issues at its Nigerian operations, and its beleaguered drilling program in Alaska’s Chukchi Sea, Shell’s return on capital employed, or ROCE, averaged under 15% from 2008 to 2012. Sales of under performing downstream and upstream North American assets are providing much-needed cash and should help the company gradually improve its return on capital. Overall, the combination of asset sales, reduced spending, and higher cash flow should allow Shell to grow its dividend at a stronger pace over the next few years, assuming commodity prices remain high and assuming that the oil giant can bring new projects online on time and on budget. read more

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Shell to sell most of stake in Australia’s Woodside for $5.7 billion

Screen Shot 2014-06-17 at 08.37.28Extracts from a Reuters article by Sonali Paul published Tuesday 17 June 2014

(Reuters) – Royal Dutch Shell launched a long-anticipated sale of most of its stake in Australia’s Woodside Petroleum Ltd on Tuesday, looking to reap about $5.7 billion as it moves to focus on developing its own gas assets in Australia. The selldown, which reduces Shell’s holding to 4.5 percent from 23.1 percent, removes uncertainty that has weighed on Woodside’s share price since Shell sold a third of its stake in 2010 and flagged it was not a long term holder.  The sale, which came the week Woodside’s stock hit a three-year high, had been expected this year after Shell Chief Executive Ben van Beurden took the helm in January outlining plans to sell $15 billion worth of assets. read more

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Bears move in on Woodside

Screen Shot 2014-02-10 at 16.29.29Extracts from a Sydney Morning Herald article by Angela Macdonald-Smith published 29 May 2014 read more

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Woodside Scraps $2.6 Billion Israeli Gas Deal as Talks Fail

Extract from a BloombergBusinessweek article by James Paton published 20 May 2014

Woodside Petroleum Ltd. (WPL), Australia’s second-biggest oil and gas producer, scrapped an agreement to buy a quarter of Israel’s largest natural gas field for as much as $2.6 billion after talks to complete the deal collapsed.

FULL ARTICLE

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Woodside CEO Seeks Shell Exit Decision on $6.6 Billion Stake

Extract from Bloomberg News article by James Paton Feb 20, 2014 5:53 AM GMT

Screen Shot 2013-12-22 at 19.09.52Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, pressed Royal Dutch Shell Plc (RDSA) to take action on its A$7.3 billion ($6.6 billion) stake in the company, saying investors want “certainty.” 

Shell’s move to accelerate asset sales to free cash for new projects is seen as increasing the likelihood the Anglo-Dutch company will finally divest its remaining stake in Woodside. The company is trying to win investors’ confidence after its fourth-quarter profit fell to the lowest since 2009.  read more

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Woodside may ditch Shell stake

Melbourne Herald Sun Article by John Dagge: 19 Feb 2014

Screen Shot 2014-02-19 at 13.18.45WOODSIDE Petroleum says it has not consulted major shareholder Shell about its foray into Israel — an international push which analysts say complicates the oil giant’s relations with key Arabic customers. Woodside’s move to take a slice of Israel’s Leviathan field — one of the largest offshore gas finds of the past decade — has raised speculation Shell will look to offload its 23 per cent stake in the company to avoid conflicts with major oil producers. Key oil producers and Shell clients, such as Saudi Arabia, have a trading and investment boycott on Israel. read more

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Struggling Shell defers Arrow LNG project again

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Screen Shot 2013-12-22 at 19.09.52Angela Macdonald-Smith: February 1, 2014

Royal Dutch Shell has ruled out any commitment this year to the development of its Arrow liquefied natural gas venture in Queensland and signalled a more rigorous approach to other new projects in Australia, where it is also considering big asset sales.

Global chief executive Ben van Beurden would not comment on whether Shell’s remaining $7.4 billion stake in Woodside Petroleum would be among the $US15 billion ($17 billion) of divestments targeted for 2014-15. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Royal Dutch Shell to sell North Sea fields as it shifts $15bn assets

ROYAL Dutch Shell could look to sell $15bn worth of assets over the next two years including some North Sea fields, a media report said yesterday, expanding on its existing guidance that divestments would accelerate this year.

Shell, whose new chief executive Ben van Beurden took over two weeks ago, will sell some of its North Sea oil fields as well as parts of its refining portfolio and some early-stage projects, reported the Financial Times, citing a person close to the company.

The oil company, the world’s number-three among investor-controlled energy firms, declined to comment on the report.

Shell and its peers in the industry are facing increasing investor pressure to hold down spending as costs rise and prospects for oil prices wane. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Insider rumours circulating that Shell may divest Shell Oil Co

Screen Shot 2014-01-04 at 14.31.56By John Donovan: According to a Shell insider source, rumours are circulating that Royal Dutch Shell Plc may divest Shell Oil Company in order to generate money. And presumably to get rid of the difficult USA influence.  Since Saudi Aramco are joint owners on a 50-50 basis with Shell in Motiva Enterprises, operating three US refineries and 7,700 Shell branded gasoline stations, the Saudis would be the most logical buyer, perhaps followed by Chevron.  read more

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Shell eyes $7.4bn Woodside selldown

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ANDREW BURRELL AND PAUL GARVEY: JANUARY 02, 2014

ROYAL Dutch Shell’s new chief executive, Ben van Beurden, could move within weeks to order a sale of the oil giant’s unwanted $7.4 billion stake in Woodside Petroleum, a move likely to attract interest from some of the world’s biggest sovereign wealth funds.

More than three years after Shell sold down an initial $3.3bn stake in Woodside, speculation is building that Mr van Beurden, who formally took over from Peter Voser yesterday, will move to sell the remainder of its 23.1 per cent interest in the Perth-based oil and gas producer. read more

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Woodside stake may be split if Shell sells out

Bankers say the holding is an obvious selloff candidate for incoming Chief Executive Ben van Beurden, who takes the job on January 1 and will offer strategy pointers on January 30 along with fourth-quarter results.

Screen Shot 2013-01-29 at 14.38.10

LONDON Wed Dec 25, 2013 8:09am GMT

(Reuters) – Royal Dutch Shell’s (RDSa.L) 23.1 percent stake in Australian oil and gas group Woodside Petroleum (WPL.AX) is seen as more likely to be split up and/or sold to institutional shareholders than to go in one piece to a strategic buyer, bankers said.

The holding, worth about $6.4 billion (3.9 billion pounds) and left over from Shell’s abortive attempt to acquire Woodside in 2001, has long been viewed as non-core to Shell.

This year, the Anglo-Dutch company promised to accelerate asset sales to reflate a narrowing cushion between cash inflow and investment spending. read more

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Shell Exiting Woodside Opens Door to China Bids: Real M&A

Royal Dutch Shell Plc’s (RDSA) long-awaited sale of its $6.4 billion stake in Woodside Petroleum Ltd. may open the door for Asian buyers to grab a slice of Australia’s second-largest oil and gas producer, or even the whole company.

Screen Shot 2013-12-11 at 00.15.23

By Angus Whitley and James Paton Dec 15, 2013 7:00 PM GMT

Royal Dutch Shell Plc’s (RDSA) long-awaited sale of its $6.4 billion stake in Woodside Petroleum Ltd. may open the door for Asian buyers to grab a slice of Australia’s second-largest oil and gas producer, or even the whole company.

Shell, which said last month it was entering “a divestment phase,” may exit its 23 percent holding in Woodside as soon as 2014 as its importance to Europe’s largest oil company fades, said Nomura Holdings Inc. While Shell may opt to sell the stock back to Woodside and institutional investors, China’s Cnooc Ltd. and China Petroleum & Chemical Corp. might pursue the stake or a full takeover, Morningstar Inc. said. read more

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Floating LNG Figures Fly in Face of Woodside Cost Claims

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23 October 2013

The Western Australian government’s economic and industry standing committee said the return on investment achieved via the use of FLNG would be between 12.5 to 13 per cent, conferring an edge of as little as one percentage point compared to the 11.5 percent ROI for onshore processing.

Fran Logan, deputy chairman of the committee, told a hearing in Perth that the figures came from an unreleased submission prepared by “a major organisation” involved with Browse, most likely either lead developer Woodside Petroleum, or joint-venture partner Shell, which already has extensive experience in the development of floating LNG facilities. read more

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Woodside’s Partners Back Plan for Browse Gas Project With Shell

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By James Paton: September 02, 2013

Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil producer, said its partners in the Browse project support a plan to use Royal Dutch Shell Plc (RDSA)’s floating liquefied natural gas technology.

Woodside expects to consider starting engineering and design work on the LNG venture in 2014, the Perth-based company said today in a statement. PetroChina Co., BP Plc (BP/), Shell, Mitsui & Co. and Mitsubishi Corp. (8058) are partners.

The offshore option will cost an estimated $46 billion over the life of the Browse project, compared with about $70 billion for an onshore development on the coast of Western Australia, Mark Greenwood, a Sydney-based analyst at Citigroup Inc., said today by phone. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Woodside Awaits Israel Court Decision Before Completing Gas Deal

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By James Paton: August 21, 2013

Woodside Petroleum Ltd. (WPL), Australia’s second-biggest oil producer, is waiting for an Israeli court decision later this year before completing a deal to invest in the Leviathan natural gas project.

Israeli’s high court is expected Sept. 17 to consider whether the cabinet’s gas export plan, which affects the Leviathan project, needs to be approved by the parliament, Woodside Chief Executive Officer Peter Coleman told analysts today on a call. A court decision after the hearing is expected in the second half of 2013, he said. read more

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