Royal Dutch Shell Group .com Rotating Header Image

Posts from ‘January, 2016’

Six British multinationals ‘did not pay any UK corporation tax in 2014’

Screen Shot 2016-01-31 at 16.13.54

CHLOE FARAND: 31 JAN 2016

Lloyds, brewer SABMiller and drugs company AstraZeneca were also among the six multinationals not to have paid any corporation tax in 2014, reports the Sunday Times

The same year, the six British companies made a combined global profit of £30bn. 

Shell used a complex corporate structure, a company branch in Switzerland, with hardly any tax rates, and tax havens such as Bermuda to reduced its tax payments. 

In 2014, it paid no UK corporation tax but made a global profit of £19.87bn writes the Sunday paper. 

read more

Shell and BP brace for profit massacre

Screen Shot 2016-01-31 at 09.04.41

THE carnage unleashed by the crash in crude prices will be laid bare this week when Britain’s biggest energy companies unveil plunging profits, billions in write-downs and confirm thousands of job losses.

FULL ARTICLE

Zero tax bill for UK big six

Screen Shot 2016-01-31 at 08.54.55

AT LEAST six of Britain’s 10 biggest multinationals — including Shell, British American Tobacco (BAT) and Lloyds Banking Group — paid no UK corporation tax in 2014 despite combined global profits of more than £30bn.

The oil giant Shell is just one of the multinationals with an outpost in Zug, a Swiss canton with rock bottom rates. From there, it licenses its trademarks around the world.

FULL ARTICLE

Now gas joins oil on the way down

Screen Shot 2016-01-31 at 08.42.36

Shareholders in Royal Dutch Shell waved through the oil giant’s controversial £36bn takeover of BG Group last week despite concerns that the 40% plunge in the oil price since the deal was announced last year meant the chief executive, Ben van Beurden, was vastly overpaying.

The Dutchman’s bet that the crude price will double from its current $36 a barrel is certainly ballsy. 

FULL ARTICLE

Shell shares won’t run better just because BG’s been added to the tank

Screen Shot 2016-01-17 at 15.22.54

Screen Shot 2016-01-31 at 08.30.26Shell shares won’t run better just because BG’s been added to the tank

By Ian McVeigh: 31 Jan 2016

Screen Shot 2016-01-31 at 08.31.55Shell’s bid for BG received an 83pc vote in favour from its shareholders.

For some time it has been apparent that Shell was irrevocably set on this course in spite of the collapse of the oil price. The image of a supertanker unable to stop inevitably springs to mind. I am sure BG shareholders can’t believe their luck. Their shares would be around half the current level without Shell’s bid.

For the fund management industry the vote in favour is hardly likely to go down as one of its finest moments, though a 17pc “no” vote is relatively large in such circumstances.

read more

Pension funds at risk as BP and Shell’s near £10bn profits slump sparks dividend payouts fears

Screen Shot 2016-01-31 at 08.19.30

By JON REES FOR THE MAIL ON SUNDAY31 January 2016

Britain’s biggest oil groups will this week report a near £10billion slump in profits as the calamitous effect of the low oil price takes its toll on the blue chip giants.

Both BP and Shell are expected to see their full-year profits for 2015 slashed by about 40 per cent leading to fears that they will struggle to maintain their dividend payouts to shareholders.

BP is predicted to report profit for the year of $6.8billion (£4.8billion) down from $12.1billion previously, while Shell is set to report profit down to $10.7billion (£7.5billion) from $19billion.

read more

Why Royal Dutch Shell Plc Shares Could Easily Topple Another 15%!

Screen Shot 2016-01-25 at 20.54.49

Screen Shot 2016-01-30 at 10.28.15

By Royston Wild | Fool.co.uk: Friday 29 JAN 2016

Shares in fossil fuel giant Shell (LSE: RDSB) have enjoyed a solid bump higher in recent days following a meaty bounce in the oil price.

Crude values have shot skywards following chatter that an accord could be struck between OPEC and Russia to curtail production. The Brent benchmark has gained $5 since Monday and is now back above $35 per barrel, reaching levels not seen since the start of January.

Shell has subsequently seen its stock price appreciate 7% during the course of the week, adding to chunky gains seen in the prior 7-day period.

read more

Did Shell Shareholders Just Seal Their Fate?

Screen Shot 2016-01-30 at 10.17.42

Alex Dumortier: (TMFAleph1): Jan 29, 2016 at 1:08PM

U.S. stocks are higher in early afternoon trading on Friday, with the Dow Jones Industrial Average (DJINDICES:^DJI) and the S&P 500 (SNPINDEX:^GSPC) up 1.76% and 1.72%, respectively, at 1 p.m. EST. Royal Dutch Shell plc’s ADRs (NYSE: RDS-A), up 0.58%, are underperforming the broad market, but are roughly in line with the sector, with the FTSE Global Energy Index up 0.34% at 12:04 p.m. EST.

On Wednesday, shareholders of Royal Dutch Shell overwhelmingly approved the acquisition of BG Group plc, with 83% of votes cast in favor of the mammoth deal. If you ask this columnist, the uncertainty regarding whether it will ultimately produce an acceptable return for shareholders does not warrant that level of support.

read more

What goes down

Screen Shot 2016-01-29 at 15.55.24

Screen Shot 2016-01-29 at 16.15.25

By Ed Crooks: January 29, 2016

The week has been a reminder that oil prices can go up as well as down. By Thursday night, Brent crude was 25 per cent higher than its low point eight days earlier. At a little under $34 per barrel, though, oil is still at a level that makes the great majority of US shale developments uneconomic. As I wrote in the FT on Saturday, it is pointing towards a radical shake-out in the shale industry.

Concerns about the huge financial strain that $30 crude imposes on oil producers and oilfield services companies has driven the value of junk-rated US energy debt down to its lowest level for more than two decades, at an average of just 56 cents on the dollar.  Markets have also become increasingly concerned about the domino effect from weak oil prices hitting other sectors, such as manufacturing. On balance, however, David Sheppard and Neil Hume argued in the FT, cheap oil is still better for the world economy than expensive oil.

read more

9 Billion Barrels Of Crude At Risk In Massive Nigerian Oil Shakeup

Screen Shot 2016-01-29 at 15.47.29

…not only could Shell and Eni lose the block, but they could also face billions of dollars in fines for allegedly bribing corrupt public officials and private citizens.

By Julianne Geiger: Jan. 29, 2016

Supermajors Royal Dutch Shell (RDS.A, RDS.B) and Italian Eni (NYSE:E) could be facing the loss of one of the biggest offshore oil exploration blocks in Nigeria, putting an estimated 9 billion barrels of crude oil at risk.

As the new Nigerian government launches a rampaging anticorruption campaign, local media are reporting government recommendations to reclaim block OPL 245 from oil giants Shell and Eni.

Nigerian Justice Minister and Attorney General Abubakar Malami is behind the recommendation, and is a key figure advising the government on the case.

read more

Final approval for Shell mega-merger as BG Group shareholders vote in favour of the £36bn deal

Screen Shot 2016-01-29 at 08.01.06

By LAURA CHESTERS FOR THE DAILY MAIL: 29 JAN 2016

One of the largest takeovers in history finally got the go-ahead yesterday after BG Group shareholders followed those at Royal Dutch Shell in approving the £36billion deal.

At a meeting in London, 99.53 per cent of BG shareholders voted in favour, a day after 83 per cent of Shell investors approved the deal that was first announced last April.

Shell chief executive Ben van Beurden said: ‘BG adds attractive deep water and integrated gas positions and will act as a catalyst for accelerating the reshaping of our business. 

read more

Final green light for Shell-BG takeover

Screen Shot 2016-01-28 at 15.04.44

By Jillian Ambrose: 2:19PM GMT 28 Jan 2016

BG Group shareholders have voted through Shell’s £40bn takeover bid by an overwhelming majority.

The widely expected final nod for the landmark energy merger was voted through with 99.55pc of BG investors in favour, ending a controversial nine month campaign by Shell to cement its new strategic direction.

The tie-up received an 83pc approval vote from Shell shareholders on Wednesday, despite early fears that the deal was overpriced due to the collapse of oil prices since the bid was made last April.

read more

Nigerian President Steps Up Fight Against Shell/ENI Corruption

Screen Shot 2016-01-28 at 15.54.30By Andrew Oota, Bayo Oladeji, Bode Gbadebo, By George Agba, By Jonathan Nda-Isaiah:Jan 28, 2016 

In his quest for more potent laws against money laundering and to rev up the fight against corruption, President Muhammadu Buhari yesterday presented two bills before the Senate for amendment.

They are the Money Laundering Prevention and Prohibition Bill 2016 and the Mutual Legal Assistance in Criminal Matters Bill 2016.

The president, in a letter to the Senate president, Bukola Saraki, which was read on the floor of the Senate, sought expeditious consideration of the two bills for more potent war against financial crimes in the country.

read more

9 Billion Barrels Of Crude At Risk In Massive Nigerian Oil Shakeup

Screen Shot 2016-01-28 at 14.23.38Screen Shot 2016-01-28 at 14.20.50

9 Billion Barrels Of Crude At Risk In Massive Nigerian Oil Shakeup

By Julianne Geiger: 27 January 2016 

Supermajors Shell and Italian Eni could be facing the loss of one of the biggest offshore oil exploration blocks in Nigeria, putting an estimated 9 billion barrels of crude oil at risk.

As the new Nigerian government launches a rampaging anticorruption campaign, local media are reporting government recommendations to reclaim block OPL 245 from oil giants Shell and Eni.

Nigerian Justice Minister and Attorney General Abubakar Malami is behind the recommendation, and is a key figure advising the government on the case.

At issue is how Shell and Eni landed the block in the first place—a controversial deal that is now being investigated in the UK, Italy and Nigeria.

If newly elected Nigerian President Muhammadu Buhari agrees with Malami’s recommendation, not only could Shell and Eni lose the block, but they could also face billions of dollars in fines for allegedly bribing corrupt public officials and private citizens.

read more

Shell gets green light for merger with BG Group to create world’s biggest liquefied gas trader

Screen Shot 2016-01-28 at 09.16.18

By LAURA CHESTERS FOR DAILY MAIL: 28 JAN 2016

Royal Dutch Shell’s mega-merger with gas giant BG Group looked set to be approved yesterday, creating the world’s biggest liquefied gas trader and boosting bankers’ bonuses.

The £35billion deal got the go-ahead from Shell investors yesterday with 83 per cent of those voting backing the deal.

Today BG group will announce the result of its shareholder vote. For the deal to go ahead more than 75 per cent must approve it.

The completion of the deal – expected next month – will see a windfall of £106million of fees for various advisors on the deal including £76million to be shared by top investment banks including Bank of America Merrill Lynch, Goldman Sachs and Rothschild.

read more

Shell/BG vote is a bet on oil prices bouncing back

Screen Shot 2016-01-07 at 22.31.30Screen Shot 2016-01-28 at 08.18.02

Screen Shot 2016-01-13 at 08.05.25By Andy Critchlow January 27, 2016

Shell Chief Executive Ben van Beurden can breathe easier after shareholders backed his big gamble on oil prices rebounding. Only 17 percent of investors voted against his $50 billion takeover of BG Group on Jan. 27. Cost savings estimated at $3.5 billion will help assuage some worries, and paying partly in shares insulates some of the market effect, but the $60 oil Van Buerden says is needed for the deal to create economic value still looks far away.

read more

Will 2016 Be Royal Dutch Shell’s Worst Year Yet?

Screen Shot 2016-01-27 at 21.13.07

There is a lot of pessimism regarding shares of Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B). Despite strong cash flow results behind its less-than-stellar earnings results, shares of Shell have been sinking faster than its Arctic drilling rigs (too soon?).

Over the past 18 months, the company has lost more than half of its market capitalization while its largest peers, ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX), have seen more modest declines.

Unlike ExxonMobil and Chevron, which are continuing with business as usual with their development plans and slowing capital budgets, Shell is also in the middle of a transformative acquisition that could shape the company’s future for decades. With that added uncertainty of what Shell will look like post BG Group merger, and oil prices in the $30 per barrel range, some investors may be wondering if 2016 will be a rough one to be a shareholder.

read more

Why the Shell-BG mega-deal was risky for the City as well as the oil giants

Screen Shot 2016-01-27 at 21.02.45

By Ashley Armstrong7:17PM GMT 27 Jan 2016

It has taken nearly 10 months, five competition regulators and 40 approvals from other global authorities. But Shell’s chief executive Ben van Beurden’s white-knuckle ride is finally drawing to a close.

On Wedensday, van Beurden won overwhelming support for the £40bn takeover from his shareholders. However, his celebrations may well be drowned out by raucous hedge funds who are cheering what one called “a very profitable trade”.

At Shell’s highly-anticipated shareholder vote in The Hague, the mood was serene, with van Beurden and chairman Charles Holliday warmly greeting shareholders, safe in the knowledge that the level of proxy vote support meant the decision was never in doubt.

read more

Shell Needs to Repay Investors Who Backed Its Biggest Ever Wager

Screen Shot 2016-01-27 at 20.37.29

Screen Shot 2016-01-20 at 08.29.05By Rakteem Katakey: Bloomberg.com: 27 JAN 2016 – 5.06 PM GMT

Royal Dutch Shell Plc is under pressure to reward the faith of the more than 80 percent of shareholders who shrugged off the risks from slumping oil prices to back its record acquisition of BG Group Plc. 

That won’t be easy: the rout in crude has cut the value of Europe’s biggest oil company to the lowest in more than 10 years and raised investor concerns that its dividend is unsustainable.

Chief Executive Officer Ben Van Beurden, who expended a lot of political capital convincing investors that BG will help Shell ride the downturn, has to deliver promised benefits from liquefied natural gas to deepwater oil production as billions of dollars of cash flow is choked off.

read more

Shell shareholders vote for BG Group takeover despite opposition

Screen Shot 2016-01-27 at 17.07.44

Terry Macalister Energy editor: Wednesday 27 January 2016 14.25 GMT

At a specially convened general meeting in The Hague on Wednesday, 83% of Shell shareholders voted for the acquisition, despite claims that the Anglo Dutch group was paying too much for its rival during a period of collapsing oil prices.

The reputation of Ben van Beurden, the Shell chief executive, was challenged by the deal, which was opposed by large sections of the City as well as leading shareholders such as Standard Life.

read more

Shell Shareholders Approve Acquisition of BG Group

Screen Shot 2016-01-27 at 16.43.31

Screen Shot 2016-01-26 at 08.12.50Shell Shareholders Approve Acquisition of BG Group

By STANLEY REEDJAN. 27, 2016

LONDON — In one of the first major deals struck as oil prices plummeted, Royal Dutch Shell shareholders on Wednesday approved the acquisition of the BG Group, the Britain-based oil and gas producer, for about $50 billion.

Analysts had expected major oil companies like Shell and ExxonMobil to take advantage of low prices to acquire rivals or smaller companies to strengthen their position, but there have been few big moves so far, perhaps because of the steepness of the drop in oil prices, which have fallen since the summer of 2014 to around $30 a barrel from more than $100 dollar a barrel.

read more

Shell shareholders vote in favour of £40bn BG takeover

Screen Shot 2016-01-27 at 14.24.09

By Jillian Ambrose: 12:35PM GMT 27 Jan 2016

Shell shareholders have given the nod to the £40bn takeover of BG Group by a strong majority.

The 83pc vote in favour of the plans paves the way for the creation of Britain’s largest public company, pending a separate vote by BG shareholders on Thursday which is widely expected back the plans.

The vote, at an extraordinary meeting in the Hague, concludes a nine month gauntlet of global regulatory hurdles, since when plunging oil prices have raised serious concerns that Shell’s offer was overpriced.

read more

Shell shareholders approve $50 billion BG takeover

Screen Shot 2016-01-07 at 22.31.30

Screen Shot 2016-01-27 at 14.09.30

Screen Shot 2015-12-23 at 09.03.45THE HAGUE | BY KAROLIN SCHAPSWed Jan 27, 2016 1:56pm GMT

Royal Dutch Shell (RDSa.L) shareholders approved its $50 billion takeover of BG Group (BG.L) on Wednesday, clearing the last main hurdle to creating the biggest liquefied natural gas (LNG) trader in the world.

BG shareholders are also expected to approve one of the biggest deals in the energy sector in the past decade at a meeting on Thursday, a vote that would allow the two oil and gas companies to merge on Feb. 15.

Few investors have openly challenged the deal’s strategic benefits for Shell. But with oil languishing near $30 a barrel and only a slow recovery forecast, some had questioned the viability of a deal that would increase Shell’s debt burden.

read more

Shell shareholders back takeover of BG Group

Screen Shot 2016-01-27 at 12.57.21

Screen Shot 2016-01-27 at 12.58.24

Screen Shot 2015-12-23 at 09.03.45Investors in Royal Dutch Shell on Wednesday gave a green light to the group’s £35bn takeover bid for rival producer BG Group, making it a near certainty that the biggest energy deal in more than a decade will go ahead. However, a sizeable minority, some 17 per cent, were opposed.

Blundering Shell E&P Ireland Director John Egan Resigns

Screen Shot 2016-01-27 at 11.19.20

Screen Shot 2016-01-27 at 11.06.28By John Donovan

I am aware of speculation over the claimed resignation of John Egan, as a director of Shell E&P Ireland.

It is, in fact, true.

The proof is provided below.

For a number of years, Egan has been the Communications supremo at Shell E&P Ireland, the main partner in the Corrib Gas Project, which has been surrounded by accusations of corruption from the outset.

Ironically, in view of his conduct, Egan claims expertise in reputation restoration.

On New Years Eve, Shell warned nearby residents about gas flaring at the newly commissioned onshore processing plant at Bellanaboy.

read more

Corrib Gas: Was it worth it? Yes.

Screen Shot 2016-01-24 at 20.31.27

Corrib Gas: Was it worth it? Yes.

Screen Shot 2016-01-27 at 09.46.05

Brendan Cafferty: 27 JAN 2016

As the gas starts to flow a member of the pro gas lobby reflects on the controversy

Who is to blame for the delay?

The gas was due ashore in 2002 at a cost of €800 million. It finally arrives at the start of 2016 at a cost of €3.5 billion-€4 billion. Planning such a huge project was, of course, protracted, with EPA and An Bord Pleanála hearings. Kevin Moore, the board’s planning inspector, did at the outset recommend that planning not be granted for the terminal at Ballinaboy, but the board of An Bord Pleanála did not agree with him – something that is not unusual.

read more

Investors brace for BG merger vote

Screen Shot 2016-01-26 at 22.38.09

by Veselin ValchevTuesday, 26 Jan 2016, 08:42 GMT

Royal Dutch Shell Plc (LON:RDSA) shareholders are due to vote on the £31 billion acquisition of smaller energy rival BG Group tomorrow, and all uncertainty in regards to the vote’s success seem to have evaporated.

A slew of highly influential investors and advisers have publicly backed the merger, which opponents have slammed as “value destructive” for Shell shareholders.

The only major investor to publicly come out against the acquisition is Standard Life, which argued that the slumping oil price has eroded the appeal of the merger. However, Standard Life also noted that it would vote for the deal with its BG Group holding at the respective vote on Thursday, the day after Shell votes.

read more

Oil prices to stay near current level throughout 2016, World Bank says

Screen Shot 2016-01-20 at 08.25.27

Oil prices to stay near current level throughout 2016, World Bank says

Screen Shot 2016-01-26 at 22.27.19

Phillip Inman Economics correspondent: Tuesday 26 January 2016 18.08 GMT

The World Bank has slashed its forecast for oil prices this year, saying the cost of a barrel of crude will stay near its current lows for the rest of 2016.

The Washington-based institution said a glut of oil that sent prices crashing by almost half last year and another 27% this month will continue to dominate the market for the next year.

read more

Corrib gas a ‘template’ for ‘how not to undertake a development’

Screen Shot 2016-01-26 at 09.51.00

Lorna Siggins: 26 JAN 2016

The Corrib gas project is a template for “how not to undertake a development”, according to a new planning approach published by the British Institution of Civil Engineers.

Although the gas project has secured its final Government approval from Minister for Energy Alex White, the prospect of further legal challenges and the large Garda presence at an “invitation-only” opening reflects the fact that it still does not have community consent.

Two of the report’s four authors say that had both Shell and Government agencies adopted a more democratic approach, they could have avoided cost overruns, including “the loss of at least €600 million loss to the tax payer”, and could also have “avoided the serious ensuing conflict with the local community”.

read more

Oil price falls again as Shell shareholders prepare to vote on mega-merger with BG Group

Screen Shot 2016-01-05 at 10.04.42

Screen Shot 2016-01-26 at 08.33.01

The price tumbled as much as 3 per cent during trading yesterday when it emerged Iraq had produced a record high of oil and may even raise output further.

The news comes as the market is already braced for more supply from Iran after sanctions were lifted. 

Tankers have begun to leave Iran’s ports and it agreed its first deal with a European company last week with Greece’s refinery Hellenic Petroleum. 

Some analysts expect Iran to increase production to between 3million and 4million barrels a day. Iraq’s fields produced more than 4.1million barrels a day.

read more

Shell, Eni In Fresh Trouble As Nigeria Begins Moves To Withdraw OPL 245

Screen Shot 2016-01-26 at 08.24.06The retrieval of the controversial oil bloc, estimated to contain about 9 billion barrels of crude, as well as placing heavy fines on the oil giants, is contained in a far-reaching recommendation by the office of the Director of Public Prosecution, DPP, Mohammed Diri.

The recommendation was at the instance of the Attorney General of the Federation and Minister of Justice, Abubakar Malami, who is set to advise the federal government on how to proceed on a controversial deal that is being investigated by authorities in four different countries.

read more

After The Big Short, here’s The Big Long: Shell-BG

Screen Shot 2016-01-26 at 08.13.47

By Nancy Hulgrave: 26 JAN 2016

“The Big Short” landed in UK movie theaters this weekend. The film adaptation of Michael Lewis’ best-selling novel tells the story of Wall Street outsiders who made a fortune predicting the subprime mortgage crisis and subsequent financial crash.

If you watch the film — and you’re not too busy deciding whether it’s Ryan Gosling, Brad Pitt or Christian Bale you wish you were sharing popcorn with (don’t worry boys, you get Margot Robbie in a bubble bath — you’ll probably spend the two-odd hours wondering what the next big short might be and how you can profit.

read more

Climate Deal’s First Big Hurdle: The Draw of Cheap Oil

Screen Shot 2016-01-26 at 08.04.15

By CLIFFORD KRAUSS and DIANE CARDWELLA version of this article appears in print on January 26, 2016, on page A1 of the New York edition

Barely a month after world leaders signed a sweeping agreement to reduce carbon emissions, the global commitment to renewable energy sources faces its first big test as the price of oil collapses.

Buoyed by low gas prices, Americans are largely eschewing electric cars in favor of lower-mileage trucks and sport utility vehicles. Yet the Obama administration has shown no signs of backing off its requirement that automakers nearly double the fuel economy of their vehicles by 2025.

read more

Does the Shell/BG Group Deal Make Sense With Oil at These Levels?

Screen Shot 2016-01-25 at 21.08.04

On April 8, 2015, Royal Dutch Shell (NYSE:RDS-B) announced the terms of an agreement to buy BG Group for 383 pence in cash (or $5.51 per share) and 0.4454 Shell B Shares. If shareholders of both companies approve the deal when they vote on Jan. 28 and 29, the combined company will become the largest publicly traded LNG producers in the world, with more than double the reserves of ExxonMobil (NYSE:XOM). And it would catapult Shell into becoming the world’s second-largest non-state oil company in the world from a market cap perspective, ahead of Chevron (NYSE:CVX). 

read more

How Far Will BP plc And Royal Dutch Shell plc Fall If The Oil Price Reaches $20 A Barrel?

Screen Shot 2016-01-25 at 20.54.49

Screen Shot 2016-01-25 at 20.55.55

The share prices of these giants could halve… My investment advice for both companies is unequivocal. STEER. WELL. CLEAR.

By Prabhat Sakya – Monday, 25 January, 2016

Isn’t it interesting how, whenever there’s any news, we tend to jump on the negative side rather than the positive? As a commuter, I drive many thousands of miles every year. That’s why it’s great for me that the oil price is falling. And alongside the hundreds of pounds I’m saving on my daily commute, I’ll save a pretty penny on my heating bills over the next few years. Cheap fuel allows the global economy to run more cheaply, and that benefits consumers around the world.

read more

Oil prices in reverse amid Opec call

Screen Shot 2015-12-11 at 22.40.14

Screen Shot 2016-01-25 at 20.47.43

Screen Shot 2015-12-28 at 09.10.45

Oil prices tumbled again on Monday, eroding last week’s gains, as Opec called for co-operation from oil-producing nations outside the cartel.

Brent crude fell 4.1% to $30.86 a barrel following a 10% rise on Friday, while US oil shed 4.7% to $30.68.

The slide came as the head of Opec called for all oil-producing nations to work together.

Abdullah al-Badri said both Opec and non-Opec oil producers needed to tackle oversupply to help prices rise.

“It is vital the market addresses the issue of the stock overhang. As you can see from previous cycles, once this overhang starts falling then prices start to rise,” he told a conference in London.

read more

Shell re-opens Nigeria’s Trans Niger Pipeline shut since Nov

Screen Shot 2016-01-07 at 22.31.30

Screen Shot 2015-11-20 at 08.55.47Shell re-opens Nigeria’s Trans Niger Pipeline shut since Nov

LONDON Jan 25 (Reuters) – Royal Dutch Shell said on Monday that is had re-opened a key oil pipeline in Nigeria that had been shut since late November.

The Trans Niger Pipeline, or TNP, which carries Bonny Light crude oil to the export terminal had re-opened “in recent days,” a Shell spokeswoman said by email.

The pipeline remained closed while the company investigated an incident on Nov. 22 in which four contractors died during an operation to remove crude oil theft points.

The closure of the pipeline had led to loading delays of up to 10 days, according to traders.

read more

Shell’s BG Arbitrage Fades as Investors Look Set to Back Deal

Screen Shot 2016-01-25 at 13.01.36

Screen Shot 2015-12-23 at 09.03.45By Rakteem Katakey and Ryan ChilcoteBloomberg.com: 25 JAN 2016

Royal Dutch Shell Plc is on the brink of completing its biggest acquisition as shareholders look set to back its purchase of BG Group Plc.

Risks to the deal completing have almost disappeared. The discount of BG’s shares to the offer price narrowed to a record low of 2.2 percent on Monday after some of Shell’s top shareholders and advisory firms backed the transaction this month. It was at 12.5 percent on Dec. 21.

Screen Shot 2016-01-25 at 19.38.51

Shell’s acquisition, the industry’s biggest in at least a decade, came under scrutiny after oil prices fell by half from about $60 a barrel the day before it was announced in April. The slump, which Shell Chief Executive Officer Ben Van Beurden expects to be prolonged, previously kept BG’s discount to the offer from narrowing as some investors questioned whether Europe’s biggest oil company was paying too much. That’s changing as shareholders come round to Shell’s view on the long-term rationale of the purchase.

read more

Shareholder green light expected for Shell BG merger

Screen Shot 2016-01-25 at 09.10.00

MARTIN FLANAGAN: Monday 25 January 2016

Major investors are expected to back Shell’s troubled £36 billion takeover of rival BG Group this week despite reservations that the plunging oil price has made the deal less attractive than when first unveiled last year.

David Cumming, head of equities at Edinburgh-based Standard Life Investments, has been one of the most high-profile opponents of the merger, calling it “value destructive for Shell shareholders”.

Some other institutional investors also have concerns about the terms of the deal in the current depressed climate for the oil industry, and it is thought the Shell shareholder vote on Wednesday and BG vote on Thursday could be close.

read more

Shell, Eni in fresh trouble as Nigeria begins moves to withdraw OPL 245 from Malabu, Dan Etete

Screen Shot 2016-01-25 at 08.23.11

By Idris Akinbajo and Joshua Olufemi: 25 JAN 2016

The Nigerian government is set to retrieve one of Africa’s richest oil blocs from oil giants, Shell and Eni, PREMIUM TIMES has learnt.

Not only will the two oil giants lose OPL 245, should President Muhammadu Buhari approve the recommendations, they will also be fined billions of dollars for illegal activities, including paying money to fraudulent public officials and private citizens in order to secure the bloc.

The retrieval of the controversial oil bloc, estimated to contain about 9 billion barrels of crude, as well as placing heavy fines on the oil giants, is contained in a far-reaching recommendation by the office of the Director of Public Prosecution, DPP, Mohammed Diri.

read more

20 years after gas discovery, Corrib opens in north Mayo

Screen Shot 2016-01-24 at 20.38.25

Lorna Siggins: 24 JAN 2016

The €3.5 billion Corrib gas development is due to be opened by Minister of State for Natural Resources Joe McHugh on Monday, almost 20 years after the gas discovery was reported off the north Mayo coast.

Taoiseach Enda Kenny had been earmarked for the invitation-only event, but will be at Downing Street in London. Corrib shareholders Shell, Statoil and Vermillion are hosting a plaque unveiling and lunch in Belmullet, almost 15km from the gas refinery.

While much of the town’s focus is currently on sale of the €13.7 million winning Lotto ticket in Carey’s newsagent, the project opening represents a significant milestone.

read more

Shell’s white elephant?

Screen Shot 2016-01-24 at 12.02.42

Sunday 24 January 2016 09.00 GMT

Oil workers in Aberdeen will be watching events in the Hague this coming Wednesday as closely as anyone.

They will be hoping that some miracle occurs so that Dutch and other international investors in Shell suddenly swing against the £35bn merger with rival BG that is coming up for a final vote.

Ben van Beurden, the Shell chief executive, will almost certainly win the day and that could result in many Scottish oil workers being sacrificed in a blitz of job cuts needed to justify the tie-up.

read more

Shell’s plan to take over BG is still in the pipeline

Screen Shot 2016-01-20 at 08.25.27

Screen Shot 2016-01-24 at 11.47.11

Screen Shot 2015-12-23 at 09.03.45Sunday 24 January 2016 08.59 GMT

It’s nine months since Shell announced it was buying BG Group in an agreed £47bn deal and almost everything has changed. Back in April, the oil price appeared to be recovering from its fall below $50 a barrel but the price has since plunged below $30. The International Energy Agency warned last week it could fall further in a world “awash” with oil.

Shell and BG shareholders vote on the takeover this week but, despite the industry’s dire state, they will approve the deal, now worth £35bn to reflect Shell’s depressed share price. This is partly due to faith in the ability of Shell’s chief executive, Ben van Beurden, to make it work. It’s also because most big shareholders don’t want to rock the boat in public with a company as powerful as Shell. Only Standard Life has broken ranks by declaring it would vote against.

read more

Shareholders smile on Shell-BG tie-up

Screen Shot 2016-01-11 at 14.40.44

Screen Shot 2016-01-24 at 11.40.25

Screen Shot 2016-01-20 at 08.29.05Dominic O’Connell Published: 24 January 2016

ROYAL DUTCH SHELL is expected to seal its takeover of rival oil and gas producer BG this week, with shareholders of both companies likely to vote in favour of the tie-up.

The deal, the largest in oil and gas for a decade, will create a British giant, bringing together companies with market values of £89bn (Shell) and £33.5bn (BG).

Some Shell investors have criticised the deal and vowed to vote against it, saying the tumbling oil price has made it unattractive. Shell’s boss Ben van Beurden has said oil needs to be above $60 a barrel over 20 to 30 years for the deal to pay off. Brent crude closed last week at $32.18 a barrel.

read more

Shell-BG deal set to get the green light this week

Screen Shot 2016-01-24 at 08.37.13

By GEOFF HOSun, Jan 24, 2016

Since the Anglo-Dutch oil giant unveiled its recommended takeover offer for BG last April, the price of crude oil has continued its descent and is now 41 per cent lower than when the deal was announced.

Screen Shot 2016-01-24 at 08.40.14On Friday the price of Brent crude oil closed at $31.18 (£21.86).

The collapse in the price of oil has led a number of Shell’s key investors, such as Standard Life Investments, to question whether or not it should proceed.

Despite their concerns, a number of them also own shares in BG and are believed to be prepared to approve the deal, reasoning that the two firms would be stronger together.

read more

Shell’s £36bn bid for BG is set to get boost from Brazil

Screen Shot 2016-01-23 at 22.57.16

By Jon Rees For The Mail On Sunday: 24 JAN 2016

Shell’s bid to acquire BG Group has been given a boost by news from Brazil that a much feared tax hike will be avoided.

Fears of a larger tax bill on oil groups operating in Brazil had caused some investors to oppose the £36billion takeover of BG, which will create a group with major assets in the South American country.

Brazil’s National Energy Policy Council will this week announce that it will continue with the same way of calculating royalties due from oil and gas.

read more

BG investors should approve the Shell takeover even as the oil price languishes

Screen Shot 2016-01-23 at 22.46.29

By Joanne Hart for The Mail on Sunday: 24 JAN 2016

It is crunch time for investors in BG Group. Last April, it unveiled a recommended £47billion takeover by Royal Dutch Shell. This week, more than nine months later, both firms are asking shareholders to approve the deal.

It has been an eventful gestation period. The oil price has virtually halved and Shell shares have moved in tandem, sliding from 2208p to 1388p.

The slump is important because the Shell offer is a mix of cash and stock – 383p in cash and 0.4454 Shell B shares for every BG share.

read more

BG GROUP BEING TAKEN OVER BY A COMPANY WITH A TOXIC NAZI HISTORY: SHELL

Screen Shot 2016-04-18 at 18.08.56

PROOF IS PROVIDED IN THE BOOK THAT THE NAZIS ATTEMPTED TO SEIZE CONTROL OF ROYAL DUTCH SHELL. I HAVE THE PERMISSION OF THE UK NATIONAL ARCHIVE TO PUBLISH THE EVIDENCE.

By John Donovan

In a matter of days, I will be publishing an e-book entitled “Sir Henri Deterding and the Nazi History of Royal Dutch Shell.”

Publication is timed to coincide with another momentous episode in the history of Royal Dutch Shell –  the vote on the Shell BG Group merger.

SUMMARY OF MAIN CONTENT

In the years leading up to WW2, the Dutch founder of the Royal Dutch Shell Group, Sir Henri Deterding became an ardent Nazi. He financially backed the Third Reich and met directly with Hitler on behalf of Royal Dutch Shell.

read more

Shell confident of backing for BG takeover as crucial vote looms

Screen Shot 2016-01-23 at 20.43.08By Jillian Ambrose, Ben Martin: 7:00PM GMT 23 Jan 2016

A host of the world’s largest investors are expected to back Shell’s troubled multi-billion pound takeover of BG Group this week.

Shell and BG shareholders will vote on Wednesday and Thursday to approve the deal, which has been called into question by the plunge in the oil price. David Cumming, head of equities at Standard Life Investments, has been the most vocal opponent of the takeover, branding it “value destructive for Shell shareholders”.

read more

John Donovan

John Donovan, Co-founder Royal Dutch Shell Plc.com

John Donovan has a relationship with Shell stretching back decades. He was the co-founder of a sales promotion company, Don Marketing, that worked closely with Shell on an international basis.

A 30-minute video from the 1980’s featuring promotional games devised by Don Marketing for Shell can be seen on YouTube.

Shell Promotional Games: Introduced by John Donovan.”

Screen Shot 2016-01-23 at 21.12.05

He has become widely known as an expert source on Royal Dutch Shell with unprecedented access to Shell insiders and for the last decade, has operated a unique non-profit website – royaldutchshellplc.com – focussed on Shell’s activities.

read more

%d bloggers like this: