Royal Dutch Shell Group .com Rotating Header Image

January 22nd, 2017:

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

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.

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

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’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

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.

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

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.