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March, 2016:

Exclusive: After Motiva split, Saudi Aramco aims to buy more U.S. refineries – sources

Screen Shot 2016-03-18 at 21.04.31Ending an often rocky nearly 20-year relationship, Shell (RDSa.L) and Saudi Aramco [SDABO.UL] announced on Wednesday plans to break up Motiva Enterprises LLC [MOTIV.UL] after almost two decades, dividing its assets and leaving Aramco with one plant, the nation’s largest crude oil refinery, in Port Arthur, Texas.

Officials from Saudi Refining, the downstream arm of Aramco, told employees following the announcement that the state-owned firm was intent on buying more assets once the Motiva break-up is finished, according to five people who attended the briefing and asked not to be identified due to the sensitivity of the issue. read more

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Better news for oil

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Screen Shot 2016-03-16 at 22.36.32By Ed Crooks: Friday 18 March 2016

Oil continued to creep up this week with Brent going past $42 per barrel, its highest level since early December. Crude was a beneficiary of the wider upturn in markets, which pushed the S&P 500 index briefly back up above its level at the start of the year. The positive correlation between share prices and oil prices seems to be alive and well.

Suggestions that the US Federal Reserve is in no hurry to raise interest rates gave a boost to crude and other markets. Oil was also helped by reports that Opec ministers had at last agreed to hold a meeting with leading non-Opec producers such as Russia, in an attempt to make some progress with their much-discussed, little-implemented production freeze. read more

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Shell hospitality tour for EU diplomats branded ‘PR exercise’ by campaigners

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Arthur NeslenFriday 18 March 2016 

An email seen by the Guardian invites energy attaches from the EU’s 28 countries to visit the Shell technology Centre, take an ‘oil majors and oil paintings’ tour of the Van Gogh Museum, and have lunch with Shell’s president in the Netherlands.

Brook Riley, a spokesman for Friends of the Earth Europe said: “It is disgraceful to see Shell splurging profits from dirty, dangerous gas extraction on a blatant PR exercise, with the full support of the Dutch government. It is no wonder the EU’s energy plans are assuming zero improvements in efficiency or renewables. They are acting as though climate change does not exist.” read more

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Shell Reports Leak at Gasoline Unit of Deer Park Refinery

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Royal Dutch Shell PLC reported a leak at the gasoline-making unit of its Deer Park refinery in the Houston area.

“Personnel discovered a leak of naphtha from an elevated pipeline at the Catalytic Cracking Unit,” it said in a filing to the Texas Commission on Environmental Quality. 

It said the incident caused emissions that began Wednesday night and ended Thursday afternoon. 

The Deer Park refinery is a joint venture between Shell and Mexico’s national oil company Pemex.

Write to Dan Molinski at [email protected] read more

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$2b Malabu oil block deal: Adoke’s accounts under probe

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Screen Shot 2016-03-18 at 11.23.39Posted By: Yusuf AlliMarch 16, 2016

The Economic and Financial Crimes Commission (EFCC) has started investigating the accounts and transactions of a former Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke(SAN).

Some past public officers are also being probed over the $2billion Malabu oil block deal.

It was learnt that the anti-graft agency is also trying to establish from Adoke’s bankers whether the ex-minister owns safe deposit boxes.

A similar anti-graft agency in The Hague, Netherlands was confirmed yesterday to have searched Adoke’s residence following collaboration with the EFCC. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Ex-Shell CEO joins Statoil’s board

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Van der Veer was the chief executive officer at Royal Dutch Shell from 2004-2009, when he retired. Van der Veer then continued as a non-executive director on the board of Shell until 2013. He started to work for Shell in 1971 and has experience within all sectors of the business. In addition, Van der Veer is the chair of the supervisory boards of ING Bank and Royal Philips Electronics and member of the supervisory board of Boskalis Westminster Groep, and has significant competence within corporate governance. read more

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Shell, PetroChina suffer $1.4bn Arrow Energy hit

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  • Matt Chambers
  • The Australian
  • March 18, 2016 12:00AM

Screen Shot 2016-02-17 at 08.47.47Oil giants Shell and PetroChina have been forced into a further $1.4 billion writedown on their Arrow Energy coal-seam gas joint venture in Queensland after drilling in the Bowen Basin failed to deliver expected results and has delayed the project. 

The writedowns, revealed in annual accounts filed with the Australian Securities & Investments Commission, came with an indefinite delay to the Bowen Basin project and 150 job losses at the joint venture company, which was formed in 2010 to acquire the then ASX-listed Arrow for $3.5bn. read more

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Is Royal Dutch Shell Plc In Danger Of A Colossal Correction?

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Screen Shot 2016-02-17 at 08.47.47By Royston Wild – Thursday, 17 March, 2016

Shares across the mining and energy sectors have leapt broadly higher in recent weeks thanks to a robust recovery in commodity prices.

Fossil fuel leviathan Shell (LSE: RDSB) has been one of these beneficiaries. Since striking a 12-year trough of 1,277p per share back in January, the stock has leapt 33% to claw back above the 1,700p marker just this week.

Shell’s resurgence has been underpinned by a bounceback in the oil price. The Brent benchmark reclaimed the $40 per barrel marker earlier this month,  up from the multi-year lows of $27.67 hit at the start of 2016. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

US oil closes above $40 for first time since Dec. 3

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US oil closes above $40 for first time since Dec. 3

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17 March 2016

Oil prices hit 2016 highs on Thursday, with U.S. crude closing over $40, on optimism that major producers will strike an output freeze deal next month amid soaring gasoline demand in the United States.

A weaker dollar after a Federal Reserve policy decision on Wednesday that indicated two U.S. rate hikes this year instead of four also drew oil buyers using currencies such as the euro.

OPEC kingpin Saudi Arabia and non-OPEC producers led by Russia will meet on April 17 in the Qatar capital Doha, increasing the likelihood of the first global supply deal in 15 years. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Royal Dutch Shell and Saudi Aramco unwind US joint venture

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Screen Shot 2016-03-16 at 22.36.32Royal Dutch Shell and Saudi Aramco are unwinding their US refining and marketing joint venture as they pursue separate strategies for their operations. The deal will give the state-owned Saudi group full ownership of the largest refinery in North America.

The Motiva joint venture, which is owned 50/50 by the two companies and operates three refineries and a distribution and marketing business in the US, will be broken up and the assets distributed between them. read more

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Saudi Aramco, Shell to Break Up 18-Year U.S. Refining Marriage

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Screen Shot 2016-03-16 at 22.36.32By Joe Carroll and Wael Mahdi: Bloomberg.com: March 16, 2016

Royal Dutch Shell Plc and Saudi Arabian Oil Co. are ending an 18-year refining partnership as the Anglo-Dutch crude titan prepares to sell billions of dollars of assets and as Saudi Arabia’s national oil company eyes a possible initial public offering.

Shell will assume control of two Louisiana refineries operated by the Motiva Enterprises LLC joint venture, as well as nine fuel terminals and rights to Shell-branded markets in Florida, Louisiana and the U.S. Northeast, the companies said Wednesday in a statement. Aramco will retain the Motiva name and take ownership of the largest U.S. refinery, in Port Arthur, Texas, along with 26 terminals and exclusive license to sell fuel under the Shell brand across Texas and much of the U.S. Midwest and Southeast. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

FACTBOX-Motiva: How Saudi Aramco, Shell plan to divide up the assets

Screen Shot 2016-03-17 at 08.54.11Under the terms of a non-binding letter of intent, distribution terminals, retail assets, branded and commercial customer agreements will be divided by geography to ensure each partner has “an integrated and robust business,” a statement said.

Below are how the companies have split up the assets:

SHELL:

* 230,000 barrel-per-day Convent refinery located in St. James Parish, Louisiana;

* 235,000 bpd Norco refinery located in St. Charles Parish, Louisiana, where Shell already operates a chemicals plant; read more

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Saudi Aramco, Shell plan to break up Motiva, divide up assets

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“However, it is now time for the partners to pursue their independent downstream goals.”

Under the terms of a non-binding letter of intent, the Saudi state oil giant will take over the Port Arthur, Texas, refinery, the biggest in the United States, retain 26 distribution terminals as well as the Motiva name, according to a statement.

It will also have an exclusive license to use the Shell brand for gasoline and diesel sales in Texas, the majority of the Mississippi Valley, the Southeast and Mid-Atlantic markets, it said. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Saudi Refining, Inc. and Shell sign letter of intent to separate Motiva assets

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In the proposed division of assets, SRI will retain the Motiva name, assume sole ownership of the Port Arthur, Texas refinery, retain 26 distribution terminals, and have an exclusive license to use the Shell brand for gasoline and diesel sales in Texas, the majority of the Mississippi Valley, the Southeast and Mid-Atlantic markets.  Shell will assume sole ownership of the Norco, Louisiana refinery (where Shell operates a chemicals plant), the Convent, Louisiana refinery, nine distribution terminals, and Shell branded markets in Florida, Louisiana and the Northeastern region.  read more

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Shell Gamechanger – The Giant still wants Big Ideas

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Screen Shot 2016-03-16 at 16.03.37Shell Gamechanger – The Giant still wants Big Ideas (*Just make sure they don’t steal yours)

by Paul Sloane: March 16, 2016 

The Shell Gamechanger initiative was launched in 1996.  Its mission was to deliver innovative options that have the potential to drastically impact the energy future.  

Shell does not do crowdsourcing as such but it has four open innovation vehicles, External Technology Collaborations, Shell TechWorks, Shell Technology Ventures and Shell GameChanger. Initiatives like Shell LiveWire and Shell Ideas360 encourage entrepreneurship among a wider audience. Shell is now sponsoring XPRIZE, a global competition challenging teams to advance deep-sea technologies for ocean exploration.  read more

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Nigeria’s NNPC ‘failed to pay’ $16bn in oil revenues

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Tuesday 15 March 2016

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Nigeria’s state-owned oil company has failed to pay the government $16bn (£11bn) in a suspected fraud, according to an official audit.

The Nigerian National Petroleum Corporation (NNPC) provided no explanation for the missing funds, the auditor general told MPs.

Oil revenue accounts for two-thirds of the government’s funding.

President Muhammadu Buhari has promised to crack down on corruption since coming to office last May.

The NNPC has not commented on the auditor general’s findings.

The state oil giant has been mired in corruption allegations and losing money for many years.

Last month, the government announced that the NNPC would be broken up into seven different companies.

Nigeria’s former central bank governor Lamido Sanusi, now the Emir of Kano, was dismissed by the previous administration after saying that $20bn (£12bn) in oil revenue had gone missing in 2013. read more

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Shell worries about climate change, but decides to continue making it worse

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Screen Shot 2016-02-17 at 08.47.47By Katie Herzog on 14 Mar 2016

Shell Oil released its 2015 annual review last week, and the most surprising thing in it may be how concerned the company is with climate change. It’s hardly what you’d expect from Big Oil, and yet the words “climate change” occur 15 times in the 228 page report. While this may seem minor, it’s a hell of a lot more than climate change is discussed by most other oil monsters (Looking at you, Exxon). Shell, unlike many oil giants, actively acknowledges and even embraces climate action — at least, on paper. “It was encouraging to see governments reach a global climate agreement in Paris in December,” the report reads. “The agreement should now encourage countries to develop policies that balance environmental concerns with enabling a decent quality of life for more people.” read more

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Shell share price: Barclays sees group in strong position after BG deal

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by Mary MorleyTuesday, 15 Mar 2016

Royal Dutch Shell’s (LON:RDSA) recent acquisition of former London-listed peer BG Group will give it more levers to pull to weather the downturn in oil prices, analysts at Barclays have said. The bank, however, cautions that the enlarged group’s work is ‘far from over’.

Shell’s share price has been subdued in London this morning, having shed 0.48 percent to 1,658.50p as of 08:11 GMT, largely in line with losses in the broader market, with the benchmark FTSE 100 index having fallen 0.55 percent to 6,140.50 points. In the year-to-date, the energy group’s shares have added 8.65 percent, as compared with a 1.61-percent dip in the Footsie. read more

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Shell delivers more Brazil deep-water production from Parque das Conchas

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HOUSTON, Mar 14, 2016 (PR Newswire Europe via COMTEX) — Third phase of major deep-water project delivered, optimizing production capacity

HOUSTON, March 14, 2016 /PRNewswire/ — Shell and its joint venture announce the start of oil production from the third phase of the deep-water Parque das Conchas (BC-10) development in Brazil’s Campos Basin. Production for this final phase of the project is expected to add up to 20,000 barrels of oil equivalent per day (boe/d), at peak production, from fields that have already produced more than 100-million barrels since 2009. read more

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60 YEARS AFTER NIGERIA’S FIRST CRUDE: Oloibiri oil dries up, natives wallow in abject poverty

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Screen Shot 2016-02-17 at 08.47.47By Samuel Oyadongha & Emem Idio, Yenagoa: 13 MARCH 2016

Like the gold rush of California in 19th century America, the small settlement of Oloibiri, a district headquarters in Ogbia in the defunct Eastern Region, came into  limelight in second half of the 20th  century when workers of Shell Darcy converged on the  town in search of the black gold.

However, the explorers made history in June 1956 when they struck the black gold in swampy communities of Otuabagi/Otuogidi in the Oloibiri District of Ogbia, making the latter district the first in West Africa where crude oil was discovered in commercial quantity. Providence again ensured that the Ogbia kingdom produced the first minority President in history from the backwater of the Delta in the person of Dr. Goodluck Jonathan, an indigene of Otuoke. read more

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Should Shell have looked west for its Arctic Ocean fortune?

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That’s the hypothesis of David Houseknecht, one of the region’s foremost geologists and project chief for the U.S. Geological Survey’s Energy Resources Program for Alaska.

Other experts say the idea helps explain why public well results and rock chips have shown a large amount of gas in the reservoir but limited evidence of oil. Unlike Alaska politicians who jumped at the chance to blame federal regulations for Shell’s decision to abandon the Arctic, the scientists say the answer is simply a matter of geology — the oil just wasn’t there in big volumes.   read more

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How Saudi Arabia Turned Its Greatest Weapon on Itself

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By ANDREW SCOTT COOPER: A version of this op-ed appears in print on March 13, 2016

FOR the past half-century, the world economy has been held hostage by just one country: the Kingdom of Saudi Arabia. Vast petroleum reserves and untapped production allowed the kingdom to play an outsize role as swing producer, filling or draining the global system at will.

The 1973-74 oil embargo was the first demonstration that the House of Saud was willing to weaponize the oil markets. In October 1973, a coalition of Arab states led by Saudi Arabia abruptly halted oil shipments in retaliation for America’s support of Israel during the Yom Kippur War. The price of a barrel of oil quickly quadrupled; the resulting shock to the oil-dependent economies of the West led to a sharp rise in the cost of living, mass unemployment and growing social discontent. read more

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Time to End ‘Blood Oil’ Disaster in the Niger Delta

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By Richard SteinerProfessor and conservation biologist, Oasis Earth (www.oasis-earth.com): 10 MARCH 2016

The Niger Delta’s legendary “blood oil” disaster has persisted for decades, and is now deepening. Oil in the Delta fuels a dangerous mix of environmental devastation, a violent militancy that has killed thousands, human rights abuses, corporate greed and exploitation, epidemic corruption, massive oil theft, sabotage, repression, poverty, anger and despair. It is time to put an end to this ongoing atrocity, once and for all.

The 30,000 square mile Niger Delta — including rich coastal waters, islands, mangroves swamps, and rainforests — was once one of the most productive and diverse ecological habitats on Earth. But today, after 60 years of oil extraction, the region’s environment and society are devastated — a textbook example of the “oil curse.

The Delta is arguably the most severely oil-damaged environment anywhere in the world. A decade ago, our team of scientists conducting an oil damage assessment in the Delta estimated that each year, some 250,000 barrels (10 million gallons) of oil spill there, an amount comparable to that of the 1989 Exxon Valdez spill in Alaska — each year for 50 years. Oil operations have also caused extensive habitat degradation from road building, forest clearing, dredging and filling, thousands miles of pipelines, and chronic pollution from gas flaring and drilling wastes. read more

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Worst of oil rout ‘is over’, say analysts (as Shell begins £20bn asset sale)

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By CITY & FINANCE REPORTER FOR THE DAILY MAIL: 12 MARCH 2016

Oil analysts say the price of a barrel may have bottomed out – just as Shell started a £20billion assets sale.

The International Energy Agency said a slowdown in oil production could mean the worst of the rout in oil prices is over. In January prices plummeted to 12-year lows, falling below $27-per-barrel.

But in recent weeks there has been a modest recovery, with oil rising to $40 per barrel, and the IEA said this could be the light at the end of the tunnel. read more

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An oilman’s $7 billion refresher course in the economics of drilling and climate change

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To many analysts, it looked like Odum was pushed into leaving.

Steven Mufson March 11, 2016

Marvin Odum, president of Shell Oil, was attending a meeting of the parent company’s executive committee in Singapore when word trickled in that an exploration well drilled in Alaska’s Chukchi Sea — the crowning step in a multi-year $7 billion quest — was a dry hole.

Maybe not bone dry. In a recent interview, Odum wouldn’t say. But in the oil business glossary, a dry hole is one that can’t pay off commercially, and Shell’s hole definitely qualified. The parent company, Royal Dutch Shell, abruptly dropped any further drilling — a setback for the industry, though a relief for environmentalists.

For years, they had fought a vigorous, litigious and politically intense battle over the Chukchi. Meanwhile Shell, lured by potentially rich rewards, had overcome a couple of embarrassing rig mishaps at sea and patiently navigated the courts and the Obama administration’s permitting process. Now, geology had rendered its verdict. read more

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Market Report: Goldman Sachs joins supporters of Shell

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JAMIE NIMMO: Friday 11 March 2016

Goldman Sachs became the latest bulge-bracket broker to throw its weight behind Royal Dutch Shell shares after the oil giant’s mega-merger with BG.

The US bank added the supermajor to its hallowed Conviction Buy list, suggesting that more disciplined spending will help protect its rich dividend, which makes it a favourite for pensions and long-term savers.

The company is still set to splash out more than $30 billion (£21 billion) this year, joining only Petrochina above that level, but Goldman expects this budget to shrink from 2017. read more

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Brent crude climbs as International Energy Agency says oil may have bottomed out

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Nick FletcherFriday 11 March 2016 

Crude prices and commodity companies are climbing after the International Energy Agency said oil may have bottomed.

The organisation, which coordinates energy policies of industrialised countries, said output from non-Opec countries was beginning to fall quickly and production from Iran – which has only just returned to the export market following the lifting of sanctions – was not dramatic.

FULL ARTICLE

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Oil’s upwards rally

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By Ed Crooks: 11 March 2016

Oil this week continued its recent rally, with Brent crude clinging on above $40, but there was speculation that most of the gains of the past two months could be undone if Opec members and Russia failed to finalise their earlier conditional agreement to freeze production.

Reuters reported Opec sources as saying that a suggested meeting in Moscow on March 20 to confirm the deal was unlikely to take place. The critical factor is Iran; other countries say they will not meet to discuss joining the freeze unless Tehran agrees to sign up for it too. President Hassan Rouhani’s chief of staff told a conference in London that his country wanted to increase exports to regain its pre-sanctions market share before it would start talking about cuts. The same official, Mohammad Nahavandian, also sought to reassure international companies that the country would soon unveil new and improved contracts for investors in its oil and gas industry, even though the issue has raised concerns about attempts by foreign businesses to “loot Iran’s natural resources”. read more

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Shell names Lazard to advise on $30 billion asset sales

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LONDON | BY FREYA BERRY AND RON BOUSSO:

Business | Fri Mar 11, 2016 11:14am GMT

Royal Dutch Shell has appointed investment bank Lazard to advise it on a $30 billion (£21 billion) asset sale programme following its acquisition of BG Group last month, several banking and industry sources said on Friday.

The Anglo-Dutch company has also picked Bank of America Merrill Lynch and Morgan Stanley to work on proposed sales of assets, according to the sources, noting that more banks could yet be added to the line-up. read more

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Shell boss takes £300k pay cut after plummeting oil price led to 10,000 job cuts

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By EMILY DAVIES FOR THE DAILY MAIL: 11 March 2016

Shell’s boss has taken an 8 per cent pay cut after a year in which the firm was hit by plummeting oil prices and cut 10,000 jobs.

Chief executive Ben van Beurden’s salary fell from £4.4m in 2014 to £4.02m in 2015.

His total pay and benefits for the past year was £4.3m, a whopping fall from £18.7m in 2014 – though this huge pay packet was largely due to a one-off contribution to his pension following promotion to the top job.

Van Beurden’s pay is in sharp contrast to BP boss Bob Dudley who saw his 2015 pay rise almost a fifth to £13.8m – despite overseeing the company’s worst ever results with losses of £3.6bn. read more

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PIB, others threaten our operations in Nigeria – Shell

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Royal Dutch Shell Plc has said the passage of the Petroleum Industry Bill, which seeks to overhaul the Nigerian oil and gas industry, could take a huge toll on its current and future operations in the country.

The oil major stated this in its annual report for the year ended December 31, 2015, which was released on Thursday and obtained by our correspondent.

The PIB, which has been in the works since 2008 when it was first introduced to the National Assembly, suffered setbacks in the 6th and 7th National Assembly. It is expected to be re-packaged and submitted to the current legislature. read more

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Shell boss Ben van Beurden bags a bigger bonus despite falling oil price

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RUSSELL LYNCH: 10 MARCH 2016

Royal Dutch Shell boss Ben van Beurden got a bigger bonus in 2015 — up 6% to €3.5 million (£2.7 million) — even though a tumbling oil price sank the shares by 30% last year.

The chief executive landed an overall pay deal of £5.6 million — although this was lower than 2014, when his package was swollen to €24.2 million by tax handouts and pension payments on taking the helm at the oil major.

Shell’s latest annual report showed his 2015 basic pay up to €1.47 million, but his annual bonus rising from €3.3 million to €3.5 million for a year in which van Beurden masterminded the oil giant’s mega-merger with rival BG. read more

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Shell CEO van Beurden’s remuneration fell in 2015

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LONDON: Business | Thu Mar 10, 2016

Royal Dutch Shell (RDSa.L) Chief Executive Ben van Beurden’s total direct remuneration fell 8 percent last year to 5.135 million euros ($5.63 million), the company said in its annual report.

His total package, including pension and tax equalisation, was 5.576 million euros, down from 24.198 million euros in the previous year, mainly due to a significant fall in van Beurden’s pension which was positively affected in 2014 by promotion to chief executive. read more

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Nigerian Pipeline Bombed, Knocking Off 300,000 Barrels Per Day

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Screen Shot 2016-02-17 at 08.47.47By Nick Cunningham09 March 2016

A bombed pipeline could cut into oil exports from Nigeria for the next few months.

The Trans Forcados pipeline was struck by a bomb in February, causing Shell Petroleum Development Corporation, a subsidiary of the oil major Shell, to declare force majeure, as it was unable to export crude through the Forcados terminal.

The pipeline may not be repaired until May, according to head of Nigeria’s state-owned oil company Emmanuel Ibe Kachikwu. “I have been assured by Shell that in six to eight weeks, we will be back,” said Kachikwu. “The earliest the line could be back up with replacements and parts flown in [to Nigeria] is mid-May,” a source told the Financial Times. read more

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Tanzania: Dar Businessman Hounded From Gas Blocks Deal

Screen Shot 2016-03-10 at 08.50.18Tanzania Daily News: 9 March 2016

Extracts

The Fair Competition Commission (FCC) has refused to entertain the application by Moto Mabanga, a businessman questioning about the deal for merging interest rights in three gas blocks offshore in Mtwara Region by Royal Dutch Shell Plc (Shell) and BG Group Plc.

In its letter addressed to the businessman, the FCC, through the Director General, Dr Fredrick Ringo, stated that the Commission could not act on his application because it approved the transaction involving the two foreign companies since last year. read more

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Shell Seen as Best Oil Major Wager by Analysts After BG Deal

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Screen Shot 2016-02-17 at 08.47.47By Rakteem Katakey: Bloomberg.comMarch 9, 2016

Ben Van Beurden staked his reputation on Royal Dutch Shell Plc’s $53 billion acquisition of BG Group Plc as crude slumped. Analysts are rewarding the chief executive officer by putting the enlarged company in pole position to exploit a market upturn. 

Shell’s shares will rise about 12.2 percent in the next 12 months, the most among the world’s six biggest non-state oil companies, according to the target prices of analysts compiled by Bloomberg. More than 65 percent of analysts who cover Europe’s largest oil producer recommend buying the stock, the highest share among its peers. read more

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Nigerian FG splits NNPC into seven units, appoints heads

Screen Shot 2016-03-09 at 10.00.179 March 2016

President Muhammadu Buhari on Tuesday approved the immediate unbundling of the Nigerian National Petroleum Corporation, NNPC, into seven independent operational units.

The Minister of State for Petroleum Resources, Ibe Kachikwu, announced the split of the state-owned oil company in Abuja, Nigeria’s capital on Tuesday.

The new units are Upstream, Downstream, Gas & Power, Refineries, Ventures, Corporate Planning & Services and Finance & Accounts.

With the announcement of this new policy road map, the realigned NNPC comprises of five business-focused and two service driven units. read more

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Bombed pipeline to halt Nigeria’s crude oil output until May

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By Maggie Fick in Lagos and Anjli Raval in London

The damage caused by an attack on an underwater pipeline is set to halt flows of Nigeria’s Forcados crude oil to one of the country’s biggest export terminals until May.

Shell Petroleum Development Corporation , a Royal Dutch Shell subsidiary which operates the pipeline, declared force majeure on February 21, a week after the pipeline was hit by an explosion, causing a leak that forced it to halt loadings to the Forcados export terminal.

Repairs to the pipeline could take until May, Emmanuel Ibe Kachikwu, minister of state for petroleum and the head of Nigeria’s oil company, said in Abuja on Tuesday.

The bombing of the pipeline was the most sophisticated attack on Nigeria’s oil-producing Delta in years and raised fears that such sabotage could once again cripple output in Africa’s top oil producer.

“I have been assured by Shell that in six to eight weeks, we will be back,” said Mr Kachikwu. read more

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Shell says to start new exploration phase in BC-10 Brazil field

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Screen Shot 2016-02-17 at 08.47.47RIO DE JANEIRO: TUE Mar 8, 2016

Royal Dutch Shell will start in coming days a new exploration phase in the BC-10 project off the coast of Brazil, where it has already invested more than $1 billion, the company’s chief executive in the country said in a presentation.

Shell wants to keep investing in Brazil as the country has viable oil reserves despite recent market uncertainties, Shell Brazil CEO Andre Araujo said. read more

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South Africa to start shale gas exploration in next year

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Royal Dutch Shell, Falcon Oil & Gas and Bundu Gas & Oil are among five companies which have applied for exploration licenses being reviewed by South Africa’s Petroleum Agency, the regulator said on Tuesday.

The Petroleum Agency will submit its recommendations to the government by early May. The ministry of mineral resources will make the final decision on granting licenses.

“One area of real opportunity for South Africa is the exploration of shale gas,” a statement from cabinet ministers responsible for the economy said. read more

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South Africa looks to shale gas future

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Shell one of the early examiners of gas potential in a country plagued by an electricity crisis

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By Daniel J. Graeber: March 8, 2016

PRETORIA, South Africa, March 8 (UPI) — The South African government said Tuesday it was expecting to reap the rewards of shale natural gas, with exploration slated as early as 2017.

Royal Dutch Shell is among the early entrants into the South African shale sector, reviewing the prospects for gas in the country’s Karoo basin.

South African Minister of Rural Development and Land Reform Gugile Nkwinti told government officials in Pretoria shale gas exploration presents a real opportunity for economic growth in the country. read more

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Oklahoma Puts Limits on Oil and Gas Wells to Fight Quakes

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By MICHAEL WINESA version of this article appears in print on March 8, 2016

Facing a six-year barrage of increasingly large earthquakes, Oklahoma regulators are effectively ordering the state’s powerful oil-and-gas industry to substantially cut back the underground disposal of industry wastes that have caused the tremors across the state.

On Monday, the state Corporation Commission asked well operators in a Connecticut-size patch of central Oklahoma to reduce by 40 percent the amount of oil and gas wastes they are injecting deep into the earth. The directive covers 411 injection wells in a rough circle that includes Oklahoma City and points northeast.

It follows a February request that imposed a 40 percent cutback on injection wells in a similar-size region of northwest Oklahoma. read more

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Did Shell’s Failure to Disclose Climate Risks Break the Law?

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Screen Shot 2016-02-17 at 08.47.47Congressmen who have asked the Securities and Exchange Commission to investigate Exxon now request a similar probe of Shell.

BY DAVID HASEMYER, INSIDECLIMATE NEWSMAR 7, 2016

Three members of Congress have asked the Securities and Exchange Commission to investigate whether Shell Oil Co. violated securities laws by failing to adequately disclose material business risks from climate change.

Members of the House Oversight and Government Reform Committee, led by California Democrat Ted Lieu, said in a letter to the SEC that Shell understood the consequences of climate change and made business decisions based on that knowledge. 

“Yet, Shell funded and publicly engaged in a campaign to deceive the American people about the known risks of fossil fuels in causing climate change,” the lawmakers said in their letter to SEC Chairwoman Mary Jo White. read more

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Shell repays Iran 1.77 bln euros debt for oil deliveries

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By Ron Bousso

LONDON, March 7 Royal Dutch Shell has paid 1.77 billion euros ($1.94 billion) it owed the National Iranian Oil Company, settling debts after sanctions against the country were lifted in January.

The outstanding debt to Iran was a result of Iranian oil deliveries which Shell had been unable to pay for due to sanctions that were imposed on the country over its nuclear programme.

The Anglo-Dutch company resumed talks with Tehran on the debt after most Western sanctions were lifted in January as part of a deal with world powers. The payments were made over the past three weeks in euros as dollar transactions are still under U.S. sanctions. read more

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There’s a Cancer-Causing Chemical in My Drinking Water, But California Isn’t Regulating It

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Consumer Confidence Report Footnote

123 Trichloropropane has been detected in 29 wells in Fresno…. Some people who use water containing it over many years may have an increased risk of getting cancer, based on studies in laboratory animals.

Screen Shot 2016-03-07 at 21.15.23Wait…what? I have two little kids, and my family drinks the tap water. And it might cause cancer? I decided to fork out $200 to get mine tested. And to start digging into how 1,2,3-TCP got into the water.

Turns out, it’s not just Fresno. According to the State Water Resources Control Board, 1,2,3-TCP has been found in about a hundred public water systems across California, mostly in the Central Valley but also in counties like Santa Cruz, Monterey, Sacramento, and Los Angeles. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Canada offshore drill incident drops equipment to sea floor

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Screen Shot 2016-03-07 at 20.59.41By Brett Ruskin, CBC News: 7 MARCH 2016

Severe weather caused a piece of equipment to break off a ship being used by Shell Canada to drill an exploratory oil well off the coast of Nova Scotia.

An official with Shell Canada confirmed Monday that the incident occurred on Saturday, about 225 kilometres offshore at the Cheshire well. The well is part of the company’s Shelburne Basin venture exploration drilling project.

A spokesperson for Shell Canada said in an email that workers on the Stena IceMAX — referred to by the company as the rig — had disconnected from the well in preparation for severe weather that was approaching. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Hopes To Sell $30 Billion In Assets, But Timing Is Terrible

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Screen Shot 2016-02-17 at 08.47.47By Irina Slav: 06 March 2016

Royal Dutch Shell is planning to sell assets worth a staggering $30 billion in a bid to prop up its balance sheet, after completing the $53-billion acquisition of BG Group last month. The majority of these soon-to-be-offloaded assets are in the midstream and downstream operations of the company.

The plans were first mentioned by Shell’s chief executive during a conference call at the beginning of February. Two anonymous Bloomberg sources familiar with the divestment program stated that this divestment may include pipelines in the U.S., a stake in a gas project in Trinidad and Tobago, and interests that Shell holds in oil and gas fields in India. read more

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March 2016: Multiple news sources report that Nigerians have been given the go-ahead to sue Shell in UK court over oil spills

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By John Donovan

Multiple news sources have reported the latest legal proceedings brought against Shell in London on behalf of Nigerian communities. 

Parties pursuing litigation against Shell are frequently in contact with me seeking advice, inside information and internal evidence. I am always grateful in this regard for invaluable input from Shell insider sources, some of whom have provided information to me for over a decade. 

With regards to the latest litigation, suffice it to say that I was pleased to provide extensive assistance on a confidential basis to Leigh Day, the London law firm acting for their Nigerian clients.  read more

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Nigerian Federal Government slams oil firms, including Shell, with N2trn lawsuit over alleged oil fraud

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By Dimeji Akinloye: 4 March 2016

The federal government has reportedly filed lawsuits against multinational oil corporations – Shell, Chevron, Agip and other major oil companies for failing remit N2 trillion crude oil revenue.

The revenue not declared between 2011 and 2014, according to Ynaija, runs into over 57 million barrels of crude oil shipments.

As contained in the lawsuits, which were filed on Thursday, March 3, at a Federal High Court in Lagos, the decline in crude oil revenue recorded in 2014 “necessitated an intelligence based gathering of data, which showed that part of the reasons for the decline in the revenue from crude oil exploration was the refusal to declare and/or under-declaration of crude oil shipments”. read more

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Nigeria to Split Up National Oil Company

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By BENOIT FAUCON: March 4, 2016

Nigeria’s oil minister Emmanuel Ibe Kachikwu said Nigerian National Oil Co. will be broken up into 30 independent oil firms as the country’s government combats corruption and bureaucracy after the oil price crash. PHOTO: REUTERS

The previous administration of Goodluck Jonathan has been widely accused of bribery and misappropriation of funds in the oil sector. Former oil minister Diezani Alison-Madueke is being investigated on corruption allegations in Nigeria and the U.K. Through her lawyer, she has denied any wrongdoing. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.