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Posts from ‘January, 2017’

What Shell Could Unload Next As Part Of Its $30B Divestiture Program

By Claire Poole: CONTRIBUTOR: 31 JAN 2017

Royal Dutch Shell plc (NSYE:RDS.A) has been on a divestiture spree after its debt-laden $50 billion purchase of BG Group plc last year, the latest being its sale of some of its oil and gas properties in the North Sea to private equity-backed Chrysaor Holdings Ltd. for $3.8 billion as well as its stake in a Thailand field to Kuwait Petroleum Corp. for $900 million. The sales — which follow the recent unloading of assets in Saudi Arabia, Japan and Australia  – are nudging it toward 40% of the $30 billion divestiture goal it hopes to reach by the end of next year. What could be next? read more

Shell’s North Sea Retreat

By Chris Hughes: Jan 31, 2017

Royal Dutch Shell Plc is selling more than half of its North Sea oil production. It may be a big pullback from Britain for the Anglo-Dutch oil major. But it’s clear the assets are better off with new owners and Shell is better off with the cash.

Running North Sea fields makes more sense for small firms that specialize in extracting every last bit of oil from mature acreage, leaving giants like Shell to focus on bigger, riskier projects elsewhere. The acquirer here, Chrysaor Holdings Ltd., is backed by U.S. investment fund EIG Global Energy Partners and run by seasoned North Sea experts. The chair is former Shell executive Linda Cook. Clearly for Shell this was a trusted buyer. read more

Shell Sells $4.7 Billion of Fields as Disposal Push Accelerated

Royal Dutch Shell Plc, looking to pare debt swollen by last year’s acquisition of BG Group Plc, accelerated its drive to shed assets on Tuesday by agreeing to the sale of fields in the North Sea and Thailand for as much as $4.7 billion.

The disposals include the sale of about half the company’s North Sea oil and gas assets for as much as $3.8 billion to Chrysaor Holdings Ltd., Shell said. Earlier Tuesday, the company agreed to sell its stake in an offshore Thai gas field to a unit of Kuwait Petroleum Corp. for $900 million. read more

Corruption Currents: Nigeria to Charge Shell, Eni in Oil-Graft Scandal

By SAMUEL RUBENFELD: Jan 30, 2017 5:41 pm ET

Bribery:

Nigeria seized an oil block and will prosecute petroleum giants Royal Dutch Shell PLC and Eni in a $1.2 billion corruption scandal that has drawn investigators from several countries. Shell declined to comment, and Eni denied wrongdoing. (AP)

SOURCE

Shell and Total set to provide electric car charging ports at UK and Dutch garage forecourts

Written by Energy reporter – 30/01/2017 1:47 pm

Oil supermajors Royal Dutch Shell and Total are preparing to introduce battery charging points at European petrol stations as the the energy giants respond to rising sales of electric cars.

A selection of Shell’s filling stations across the UK and Netherlands will be the first to offer the service later this year, according to the Financial Times.

Total is said to be working on a similar move in a bid to capitlise on the emerging electric car market. read more

Shell sells Thailand gas field stake to Kuwait’s Kufpec for $900 million

Royal Dutch Shell (RDSa.L) said on Tuesday it would sell its stake in Thailand’s Bongkot gas field to Kuwait Foreign Petroleum Exploration Company for $900 million (719.5 million pounds).

The move is the latest stage of the Anglo-Dutch company’s push to reduce debt after buying smaller rival BG Group for $70 billion, bringing its total divestments since April 2015 to 8.7 billion.

The transaction will include Shell’s 22.2-percent equity stake in the Bongkot field and adjoining acreage off the coast of Thailand consisting of Blocks 15, 16 and 17 and Block G12/48, Shell said in a statement. read more

Shell to sell North Sea assets to Chrysaor for $3.8 billion

By Ron Bousso | LONDON

Royal Dutch Shell (RDSa.L) has agreed to sell a package of oil and gas fields to private equity-backed Chrysaor for $3.8 billion, giving the Anglo-Dutch group a major boost in its drive to reduce debt following the acquisition of BG Group.

The deal, which accounts for more than half of Shell’s production in the North Sea, will breathe new life into the ageing North Sea where production has steadily declined since the late 1990s and where oil majors such as Shell and BP have struggled to generate profits. read more

Nigeria: Ijaw Youths Warn Shell Over Planned Relocation of Headquarters to Lagos

By Julius Osahon: 30 Jan 2017

Yenagoa — The Ijaw Youth Council (IYC) has condemned and described as insensitive and provocative the plan by Anglo-Dutch multinational oil company, Shell to move its corporate headquarters from Port Harcourt, in the Niger Delta region to Lagos, south west Nigeria.

The body warned the oil giant to halt what they described as its evil and anti-Niger Delta plan or be ready to completely move out of its offshore oil platforms located in EIA and Bonga.

A statement by IYC spokesman, Barrister Eric Omare, said it was disheartening that while critical stakeholders are making frantic efforts to restore peace to the volatile region, the company was making plans to worsen the security situation. read more

Shell, BP results preview: Look past top line figures to find positive story, analyst says

Written by Mark Lammey – 30/01/2017 7:48 am

Investors monitoring the fourth quarter results of Shell and BP must look beyond the top line figures to get a good reading of the firms’ vital signs.

Iain Armstrong, divisional director at Brewin Dolphin, said the fourth quarter was notoriously hard to predict as oil and gas deliveries tended to be down.

Mr Armstrong said the two majors’ headline figures could be disappointing, unless strong demand from China gives them a boost.

He also said Shell should be in a position to sell more of its North Sea assets, thanks to improved oil prices and the BG Group acquisition showing signs of fruition. read more

Shell is expected to report huge annual profit gains as oil prices recover

Recovering oil prices mean Shell will bag a huge profit compared with last year’s (Source: Getty)

Courtney Goldsmith: 29 Jan 2017

Royal Dutch Shell’s annual profits are expected shoot up following last year’s dramatic 80 per cent decline as oil prices continue to inch up.

The oil giant is forecasted to post a profit of $8.17bn (£6.51bn), more than double its profit of $3.8bn the previous year, the Telegraph reported.

The Anglo-Dutch business is also expected to announce the latest development in its drive to ditch $30bn worth of assets following its £35bn takeover of BG Group. Shell is predicted to report the $3bn sale of its North Sea oil and gas assets – almost half of its total assets worth $7bn in the North Sea – to a private-equity-backed explorer. read more

Shell to install chargers for electric cars on European forecourts

by: Andrew Ward, Energy Editor: 29 Jan 2017

Royal Dutch Shell is preparing to introduce battery charging points at some European petrol stations… Shell’s filling stations in Britain and the Netherlands — the Anglo-Dutch group’s home markets — will be the first to offer the service later this year, according to John Abbott, its director of downstream business.

FULL ARTICLE SUBJECT TO SUBSCRIPTION

Shell bounces back as oil price enjoys a slick resurgence

Shell bounces back as oil price enjoys a slick resurgence

Jillian Ambrose28 JANUARY 2017 • 7:00PM

Royal Dutch Shell is poised to lead a comeback this week as it reveals annual profits have more than doubled on the back of the recovering oil price.

The Anglo-Dutch oil giant is expected to post bumper profits of $8.17bn (£6.91bn), a huge jump on the $3.8bn it reported at the depths of the market downturn.

Alongside the profit boom, Shell is expected to announce the $3bn sale of its North Sea oil and gas assets to a private-equity-backed explorer. read more

Nigeria Seizes $1.2 Billion Oil Bloc in Shell, Eni Scandal

Nigeria Seizes $1.2 Billion Oil Bloc in Shell, Eni Scandal

By MICHELLE FAUL, ASSOCIATED PRESS

JOHANNESBURG — Jan 27, 2017, 7:31 AM ET

Nigeria is seizing back one of Africa’s richest oil blocs and will prosecute petroleum giants Shell and Eni in a $1.2 billion corruption scandal that has drawn investigators from the United States, Italy, France, Switzerland and Holland, according to a Nigerian Federal High Court document.

The court on Thursday ceded control of Oil Prospecting License 245 to the government while the West African country’s Economic and Financial Crimes Commission investigates and prosecutes suspects in the “Malabu Oil scam,” according to a statement from the commission. read more

Nigeria Tells Shell, Eni to Temporarily Cede Oil Field Control

by Yinka Ibukun and Elisha Bala-Gbogbo: 27 January 2017

A Nigerian court has ordered Royal Dutch Shell Plc and Eni SpA to cede control of a jointly owned oil license to the government amid an investigation into how they purchased the asset.

The companies’ control of Oil Prospecting License 245 is suspended pending “investigation and prosecution of suspects” including companies and individuals accused of possible “acts of conspiracy, bribery, official corruption and money laundering,” according to documents from the Federal High Court in Abuja. read more

Shell set to sell $3 billion North Sea assets to Chrysaor

By Ron Bousso and Clara Denina | LONDON

Royal Dutch Shell (RDSa.L) is nearing the sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor for $3 billion, banking sources said, marking a milestone in its drive to reduce debt after buying BG Group.

Chrysaor, a North Sea-focused oil company backed by private equity fund EIG Partners, will acquire from Shell a mix of older fields, new developments and infrastructure in a move analysts say could breathe new life into one of the world’s oldest offshore basins where production has been in a steady decline since the late 1990s. read more

Malabu fraud: Why Nigerian Government retrieved OPL 245 from Shell, Eni

Malabu fraud: Why Nigerian Government retrieved OPL 245 from Shell, Eni

January 27, 2017Idris Akinbajo

Nineteen years after it was first awarded to a controversial firm, OPL 245 has reverted back to the federal government.

The block, considered the richest in Africa, is estimated to contain over 9 billion barrels of crude and even larger volume of gas reserves.

For comparison, at Nigeria’s current OPEC oil output quota of 2.2 million barrels per day, OPL 245 alone can provide all Nigeria’s oil production needs for over 11 years.

Formed on April 20, 1998, Malabu was awarded the block 9 days later by the Sani Abacha government, PREMIUM TIMES investigations revealed. read more

‘How Etete, Adoke, Shell defrauded Nigeria through Malabu oil deal’

Posted By: Eric Ikhilae, Abuja: January 27, 2017

The Economic and Financial Crimes Commission (EFCC) gave details yesterday of how some highly placed Nigerians, including ex-ministers and multinational oil companies allegedly defrauded the country of billions of dollars through the now notorious Malabu oil deal.

The commission also revealed how former Attorney General of the Federation (AGF) Mohammed Adoke allegedly aided the payment of $1.2b bribe to ex-Petroleum Resources Minister Dan Etete, using his position in the President Goodluck Jonathan. read more

Nigeria court orders temporary transfer of Shell, Eni oilfield

Fri Jan 27, 2017 7:18am GMT

ABUJA (Reuters) – A Nigerian court has ordered the temporary forfeiture of assets and the transfer of operations of a long-disputed oilfield owned by Shell and Eni, among others, to the federal government, court papers released on Thursday showed.

The court orders will last until Nigeria’s anti-corruption agency concludes an investigation into how the current owners acquired oil prospecting licence (OPL) 245, the papers said.

This is the latest of many inquiries, including by Dutch and Italian authorities, into the 2011 purchase of the OPL 245 block which could hold up to 9.23 billion barrels of oil, according to industry figures. read more

Debevoise acts opposite Leigh Day on another pollution claim against Shell

Extracts from article published 26 Jan 2017

The Nigerians, represented by Leigh Day partners Daniel Leader and Martyn Day, will take the verdict to the Court of Appeal and expect it to be heard in the next six to ten months.

Leader said: ‘I am confident this will be overturned on appeal. ‘It is our view that the judgment failed to consider critical evidence which shows the decisive direction and control Royal Dutch Shell exercises over its Nigerian subsidiary,’ he added.

FULL ARTICLE read more

UK Court Shuts Down Nigeria Oil Spill Case Against Shell

Oil major Royal Dutch Shell (RDS.A) cannot be sued in London over Nigerian oil spills, the High Court ruled Thursday, heading off any future attempts to request British multinationals to take responsibility at home for their subsidiaries’ actions abroad.

The High Court adjudicated that the parent company has no legal responsibility for alleged pollution of fishing areas and farmland by its subsidiary in Nigeria.

“It was agreed by both parties that if my judgment was such that there was no arguable duty of care on the part of RDS to the claimants under English law, then there would not be any cause of action in common law under the law of Nigeria,” reads the conclusion of the judgment. read more

UK: Shell ruling gives green light for corporations to profit from abuses overseas

26 Jan 2017

A UK High Court ruling that two Niger Delta communities devastated by oil spills cannot have their claims against Shell heard in the UK could rob them of justice and allow UK multinationals to commit abuses overseas with impunity, Amnesty International said today.

The High Court ruled today that Royal Dutch Shell cannot be held responsible for the actions of its Nigerian subsidiary Shell Petroleum Development Company of Nigeria Ltd. This is despite the company having profited from decades of abuses and environmental destruction in the Niger Delta. The communities are expected to appeal. read more

Court rules villagers cannot sue Shell in London over Nigerian oil spill

By Karolin Schaps | LONDON

Oil major Royal Dutch Shell cannot be sued in London courts over Nigerian oil spill allegations, the High Court ruled on Thursday, dealing a setback to attempts to hold multinationals liable at home for subsidiaries’ activities.

If the High Court had ruled in favor of the two groups, other claimants against British-based multinationals could have been emboldened to pursue legal action through the British courts, some legal experts had said.

Villagers from the Bille and Ogale communities in Nigeria’s oil-rich Delta region were trying to pursue oil spill allegations against the company’s Nigerian subsidiary Shell Petroleum Development Company of Nigeria (SPDC) in British courts. read more

UK court to rule if Nigeria Shell claims can proceed

By AFP PUBLISHED: 04:02, 26 January 2017

More than 40,000 Nigerians will on Thursday discover if London’s High Court can rule on their pollution claims against Anglo-Dutch oil giant Shell over spills in the Niger Delta.

Lawyers for the claimants are demanding action from Shell to clean up spills that have devastated their communities for decades, but the multinational argues that the claims should be heard in Nigeria.

The firm’s lawyer Peter Goldsmith told judge Peter Fraser during a hearing in November that the cases concerned “fundamentally Nigerian issues”, and shouldn’t be heard in London. read more

Downstream keeps cash flowing to protect Shell’s dividend

EXTRACT

The latest disposal came on Sunday with the $820m sale of Shell’s stake in a Saudi Arabian petrochemicals joint venture to Saudi Basic Industries. This followed a $1.4bn withdrawal last month from the Showa Shell refining joint-venture in Japan. A further break-up is being negotiated with Saudi Aramco over their Motiva US refining JV.

Kazakhstan, Shell-Eni group continue talks over tax dispute

January 26, 2017

ASTANA (Reuters) – Kazakhstan has agreed to continue talks about a tax dispute with the Karachaganak consortium of oil majors led by Shell (RDSa.L) and Eni (ENI.MI) despite beginning arbitration proceedings, the Kazakh Energy Ministry said on Thursday.

Quoting minister Kanat Bozumbayev, a ministry spokesman said the sides had agreed in December to extend talks by nine months and Kazakhstan might stop the arbitration if it was satisfied with the consortium’s offer. read more

Shell Prelude LNG over-promise and under-delivery

Extracts from a Reuters/Nasdaq article Australia’s Ichthys LNG dealt blow as major contractor pulls plug”  dated 25 Jan 2017.

Australia’s$200 billion LNG production ramp-up is one of the biggest increases in supply the industry has ever seen, and it will lift Australia over Qatar as the world’s biggest exporter of the fuel.

Even so, most of Australia’s LNG projects currently under construction, including Chevron’s huge Gorgon facility and Royal Dutch Shell’s floating Prelude production vessel, are having trouble keeping within budget and sticking to schedules, and more delays are expected. read more

29 MORE reasons to sell BP plc and Royal Dutch Shell plc

By The Motley Fool  Jan 26, 2017

Those hoping that OPEC’s decision to finally curtail production at November’s Doha summit would go some way to balancing the oil market would no doubt have gasped at the latest US rig count data on Friday.

According to drill checkers Baker Hughes, the number of oil rigs up and running in the States rose by 29 during the seven days to January 20, taking the total to 551.

This was the largest one-week jump since April 2013 and means that the rig count has risen during 10 of the last 11 weeks. Meanwhile, the number of US rigs in operation now stands at a 14-month peak. read more

Shitstorm of Nigeria related litigation hits Shell

Shell is facing what Americans might describe as a shitstorm of lawsuits arising from its Nigerian activities since the 1950’s. Litigation is current or pending in Nigeria, the USA, Italy, the UK and the Netherlands.

READ ARTICLE

Canada Pension Said to Join Bid for Shell’s North Sea Assets

Canada Pension Plan Investment Board has joined a group that’s in advanced talks to buy a package of Royal Dutch Shell Plc’s U.K. North Sea assets for more than $2 billion, people familiar with the matter said.

Canada’s largest pension fund has joined Washington-based EIG Global Energy Partners and North Sea-explorer Chrysaor Holdings Ltd. to bid for the operations, said the people, who asked not to be identified because the matter is private.

The sale is a key part of Shell’s plans to divest about $30 billion in assets through 2018 to help offset the $54 billion acquisition of BG Group, which increased debt and lowered its credit rating. Chief Executive Officer Ben van Beurden has vowed to boost savings following a two-year slump in crude oil prices. read more

‘It’s payback time,’ says Nigerian king suing Shell

James Rothwell25 JANUARY 2017 

Nigerian tribal king has accused oil giant Shell of pocketing “blood money” after leaking pipelines allegedly polluted his community’s drinking water with deadly diseases.

Emere Godwin Bebe Okpabi, who is the leader of Nigeria’s Ogale people, has taken the Royal Dutch Shell company to the High Court in London as he says they are responsible for the “devastating” pollution.

The court will rule on whether the case is under the UK’s jurisdiction on Wednesday.  read more

Shell, Phillips 66 buy 6.4 mln bbls of oil from U.S. emergency reserve

Oil companies Shell and Phillips 66 together bought 6.4 million barrels of oil last week from the Strategic Petroleum Reserve (SPR), according to a Department of Energy document released on Tuesday.

Shell bought 6.2 million barrels of oil and Phillips 66 bought 200,000 barrels on Jan. 18, said the department document, seen by Reuters.

The federal government held the sale to fund a revamp of the emergency oil stash, which is stored in salt caverns in Louisiana and Texas along the Gulf Coast. The Department of Energy had said it would sell up to 8 million barrels as part of its modernization program. read more

UK: Shell ruling could give green light to corporations for abuses abroad

Spokespeople available for interview

On Thursday 26 January the UK High Court will rule on whether two Niger Delta communities whose environment and livelihoods were destroyed by oil spills can have their claims against Shell heard in the UK. The case could set a precedent for holding other UK-based multinationals to account for abuses committed overseas.

“This ruling will have wide-ranging implications for corporations based in the UK that abuse human rights abroad. If the court rules that the communities cannot have their case heard in the UK it would effectively be a green light for UK multinationals to profit from human rights abuses and environmental destruction around the world,” said Audrey Gaughran, Director of Global Issues at Amnesty International. read more

Exploration boss discovers new role in risk-averse Shell

Emily Gosden, Energy Editor: January 24, 2017

Royal Dutch Shell’s exploration chief is to step down after seven years, as the energy company cuts back on drilling new wells.

Ceri Powell, the highest ranking woman at Shell pending the elevation of Jessica Uhl to chief financial officer, is to take up a new role as managing director of Brunei Shell Petroleum in March.

A geologist who grew up in Pembrokeshire and who joined Shell in 1990, Ms Powell, 53, has twice been named on Fortune’s 50 most powerful women in business list. She is to be replaced as Shell’s executive vice-president of exploration next month by Marc Gerrits, another company veteran who is at present vice-president of upstream strategy. read more

Chemicals ‘growth engine’ at Shell despite Saudi divestment – company

23 January 2017 

LONDON (ICIS)–Royal Dutch Shell’s chemicals business will continue to be a “growth engine” for the company despite the $820m disposal in its Saudi joint venture with SABIC, a spokesperson for the UK-Netherlands energy major said on Monday.

Shell announced late on Sunday it was divesting its 50% stake at SADAF, a 37-year old joint venture with the Saudi petrochemicals major.

The SADAF joint venture, at Jubail Industrial City, has six petrochemical plants with a total output of more than 4m tonnes/year, according to Shell, including production plants of ethylene and styrene with output capacities of 366,000 tonnes/year and 400,000 tonnes/year, respectively, according to Shell’s 2015 financial report.   read more

Shell Gabon employees end strike after deal

By AFP   |   23 January 2017   |   11:00 am

Shell Gabon’s 400 staff have returned to work, ending an 11-day walkout after a deal was reached with management over the planned sale of the business, union sources said Monday.

“Work has resumed at all sites operated by Shell Gabon,” after the government helped mediate a deal regarding workers’ compensation, said the ONEP union which had originally organised the open-ended strike.

Royal Dutch Shell, one of the two historic operators alongside French group Total, is selling its Gabon oil assets. read more

Shell continues evolution by parting with Saudi corporation

By Daniel J. Graeber: Jan. 23, 2017

Royal Dutch Shell said its move to sell off its share in a petrochemical joint venture with a Saudi partner is part of its effort to retool its regional focus.

Shell sold its stake in a joint venture effort to Saudi Basic Industries Corp. for $820 million in a move that solidifies the Dutch supermajor’s shifting priorities in the wake of last year’s acquisition of BG Group.

The agreement marks the end of a joint venture agreement that was set to expire in 2020. read more

Shell Exploration Boss To Step Down

January 23, 2017

LONDON (Reuters) – Royal Dutch Shell’s head of exploration Ceri Powell will step down next month, capping three years in office marked by sharp cutbacks in the company’s search for new oil and gas reserves amid the industry’s deep downturn since mid-2014.

Powell, a geologist who joined Shell in 1990, will depart on February 13 and become managing director of Brunei Shell Petroleum the following month, according to a Shell spokeswoman.

Powell will be replaced by upstream strategy vice president Marc Gerrits, who started his career in Shell in 1986 as an exploration geologist in Australia. read more

Shell’s North Sea deal expected within weeks ahead of M&A boom

Jillian Ambrose22 JANUARY 2017 • 8:00PM

Shell’s plans to sell off UK oil assets are expected to move ahead within weeks ahead of an M&A boom for the North Sea.

City sources have said that private-equity backed investment funds are expected to close in on asset sales from supermajor Shell as well as French energy giant Engie amid rising investor confidence in the oil market recovery.

In the wake of the oil price crash early last year industry experts predicted that cash strapped oil companies would streamline their portfolios by selling off assets to bargain hungry funds, but deals have been slow to emerge due to market volatility. read more

Sabic Buys Out Shell in Saudi Petrochemical for $820 Million

Saudi Basic Industries Corp., the Middle East’s biggest petrochemicals producer, agreed to buy out Royal Dutch Shell Plc’s 50 percent stake in a Saudi joint venture for $820 million.

The Saudi Petrochemical Co. venture, known as SADAF, is ending earlier than the planned 2020 expiration, the Hague-based Shell said in an e-mailed statement Sunday. SADAF in Jubail, Saudi Arabia, has six petrochemicals plants with total production of about 4 million metric tons a year, it said.

Shell’s acquisition of BG Group Plc last year has turned its attention to restructuring its business and focusing on existing assets, and is sending “mixed signals about its desired role” in the Middle East, Arab Petroleum Investments Corp., the investment banking arm of Organization of Arab Petroleum Exporting Countries, said in a report last week. Shell in 2015 ended plans to build a $6.5 billion petrochemical plant in Qatar and last year exited a natural gas exploration venture in Abu Dhabi. read more

Saudi’s SABIC to acquire remaining 50 percent of Shell venture for $820 million

Saudi Basic Industries Corp (SABIC) 2010.SE has signed an agreement to acquire the 50 percent that it does not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell (RDSa.L), for $820 million, SABIC said on Sunday.

“As per the partnership agreement between the two companies that stipulates the right of SABIC to renew or end the partnership by the end of 2020…SABIC decided to acquire the full stake of Shell, which is 50 percent,” it said. read more

Ethane Production Is Still Climbing

CASEY JUNKINS: Business/Energy Writer: [email protected]

DILLES BOTTOM — U.S. ethane production is growing so fast that federal officials can barely keep track of it, as last year’s projection of 1.4 million barrels per day by 2017 is now trumped by new prognostications of 1.7 million daily barrels by 2018.

As the new U.S. Energy Information Administration numbers indicate, the need for drillers to disperse this liquid continues to climb, which leads Cal Dooley, president and CEO of the Washington, D.C.-based American Chemistry Council, to believe this creates an environment in which the need for ethane crackers grows. read more

Chapter in the book UNITED STATES TRADEMARK LAW about RoyalDutchShellPlc.com

UNITED STATES TRADEMARK LAW

ENTIRE CHAPTER 11

royaldutchshellplc.com is a Royal Dutch Shell gripe site and blog operated by Alfred and John Donovan, who engaged in several marketing campaigns with Shell during the 1980s and early 1990s. The father and son duo believe Shell violated intellectual property agreements and filed several law suits against Shell prior to starting several websites critical of Shell, including royaldutchshellplc.com. The site has been oft quoted in news sources and is known for its activities as an Internet leak and forum for Shell whistleblowers. read more

Royal Dutch Shell: A Lot Of Debt

Brandon Dempster: Jan 19, 2017

Royal Dutch Shell (RDS.A, RDS.B) has a sizeable debt wall ahead of them. With nearly $20 billion in debt due over the next five years, this company is going to have to be firing on all cylinders in order to not just meet these principal repayments, but to generate enough cash flow to fund the sizeable dividend, boost capital expenditure per the company’s Q3 2016 guidance, and still remain in positive free cash flow territory. It’s important that investors take a tough look at the debt due this year and understand the company’s current liquidity position. read more

Shell, Statoil make shortlist for US offshore wind licence

Written by Mark Lammey – 19/01/2017 6:00 am

The US Government said yesterday that it had cleared Shell and Statoil to bid for an offshore wind farm licence off North Carolina later this year.

The 122,405 acre Kitty Hawk licence will be offered in a commercial wind lease sale on March 16, the US Interior Department said yesterday.

Shell and Statoil are among nine companies to have made the shortlist.

Last month, Statoil said it had won an offshore wind lease off New York with a $42million bid. read more

FT article mentions Royal Dutch Shell spy firm Hakluyt

Fear the secret agent less than the accountant

Extracts from an article by John Gapper

Intelligence has its uses in business, if filtered and edited for plausibility and reliability. Even if information cannot be published or produced in court, it can help a board of directors decide whether to buy a company or enter partnership with an entrepreneur in Russia and other opaque markets.

This is the speciality of consultants such as Hakluyt in London and Veracity in New York – the market Orbis has tried to enter. Hakluyt was founded 20 years ago by former UK intelligence officers, although it now employs others including former management consultants and financial journalists. read more

3 ex-Shell execs file perjury charge vs 2 ex-Customs officials

THREE former executives of Pilipinas Shell Petroleum Corp., including the past chairman of all Shell companies in the country, have filed a criminal complaint against a former customs commissioner and two others for lying under oath.

Former Customs Commissioner Napoleon L. Morales, former Port of Batangas Collector Juan N. Tan and one Lourdes M. Aclan of Batangas were alleged to have committed four counts of perjury, a criminal offense punishable by imprisonment.

“In a desperate attempt to give a semblance of validity to what is otherwise a frivolous and baseless complaint, the respondents deliberately and willfully made blatantly false statements which are material to sustain their trumped up charges,” said complainants Edgar O. Chua, who previously led Pilipinas Shell, and former company executives Nigel T. Avila and Roberto S. Kanapi. read more

Ralph Orton Glendinning, founder of Glendinning Co

Ralph Orton Glendinning (right)

November 19, 1923 – January 5, 2017 (Age 93)

Hobe Sound, Florida

Extract from his Obituary 

Ralph Orton Glendinning was Promoted to Glory on January 5, 2017. He was born in Rahway, New Jersey on November 19, 1923 to John Edmond Glendinning and Mildred Potter Rowe Glendinning. He was an amazing self-made man with numerous accomplishments and interests. After one year of college at Rensselaer Polytechnic, where he attended on a scholarship, WW11 started and he enlisted in the navy. After some training, he switched to the Marines becoming a combat pilot on the aircraft carrier Bunker Hill from which he flew 87 missions, including the invasions of Iwo Jima and Okinawa. His plane was hit by enemy fire on a raid over Tokyo, and he crashed off the coast of Japan with a leaky life raft. A plane from his squadron dropped a raft, and the first wave brought it to him. During his time in the raft, he made a promise to God that, if he would save him, he would spend his life helping others. God granted his wish, and he fulfilled that promise for his remaining life. read more

Halliburton to drill wells for Shell, doubling Iraq’s Majnoon oil field output: sources

Shell has signed a $210 million contract with Halliburton to drill 30 wells in Iraq’s Majnoon oil field, two oil sources said on Thursday.

The agreement will double the field’s production after three years, the sources said.

Shell, the operator of the giant Majnoon field in southern Iraq, could not be reached immediately for comment.

Majnoon’s output should rise to about 400,000 barrels per day in three years, from 220,000 bpd now, according to the sources.

(Reporting by Aref Mohammed and Saif Hameed; writing by Maher Chmaytelli; Editing by Susan Fenton) read more

Shell, BP to reveal Q4 income surges, analyst says

Written by Mark Lammey – 19/01/2017 7:22 am

Oil majors Shell and BP are expected to reveal large increases in fourth quarter earnings next month, an analyst said yesterday.

Biraj Borkhataria of RBC Capital Markets estimated BP would record a net income of $1billion in Q4, up from $200million the previous year.

Mr Borkhataria said the firm’s production would edge up during the quarter due to lower seasonal turnaround and maintenance activities, though downstream margins will be under pressure. read more

Potter Township gives final approval for Shell cracker plant

By Anya Litvak / Pittsburgh Post-Gazette: 18 Jan 2017

Potter supervisors approved a permit Wednesday for Shell Chemical Appalachia to build a sprawling petrochemical complex within its borders, capping more than a month of tension among people who live near the plant site in Beaver County

The supervisors voted unanimously to approve a conditional use permit for the company during a standing-room-only meeting that saw both supporters and opponents speaking their minds in one-minute increments before the vote. read more

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