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Posts on ‘April 19th, 2017’

Shell opens treatment plant in Argentina shale play

Royal Dutch Shell PLC inaugurated on Tuesday a treatment plant for shale oil and gas in Argentina’s Vaca Muerta shale play, one of the world’s largest.

The plant, announced in 2014, has a capacity to process up to 10,000 barrels per day from the Sierras Blancas, Cruz de Lorena and Coiron Amargo Sur Oeste blocks operated by Shell, the company said in a statement.

“(The plant) receives output from the wells of these blocks, processing the oil and gas to leave it ready for commercialization,” the statement said. read more

Shell hit with prohibition notice on Brent Charlie

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The Health and Safety Executive (HSE) said Shell had failed to put appropriate controls in place to protect workers from dangerous gases in one of the platform’s legs.

HSE said the company had identified the risks of exposure to hydrogen sulphide and hydrocarbon gas while accessing the column C1 leg.

But Shell did not adequately describe how control measures would be “organised, controlled, monitored or reviewed”, according to HSE.

The prohibition notice was served early in February. read more

Support grows for Australian cross-continent pipeline to combat gas shortages

Apr. 19, 2017 12:42 PM ET|By: , SA News Editor

Australia’s government may support construction of a 1K-mile gas pipeline likely to cost more than A$5B (US$3.8B), WSJ reports, amid growing concern about shortages of liquefied natural gas and blackouts on the country’s populous eastern seaboard.

Two senior ministers expressed support for a transcontinental pipeline as Prime Minister Turnbull met with major LNG exporters including Royal Dutch Shell (RDS.A, RDS.B), Exxon Mobil (NYSE:XOM) and Santos (OTCPK:STOSF) to discuss ways of getting more LNG into the domestic energy market. read more

Tanzania Drafts $30B LNG Export Project Deal

Tanzania’s government has prepared a draft agreement with international oil companies willing to take part in a $30-billion LNG export project, and has sent the draft for ministerial review, local media reported on Wednesday, citing a senior official at the Ministry of Energy and Minerals.

State-run Tanzania Petroleum Development Corporation (TPDC) is partnering with ExxonMobil, Statoil, Ophir, and Shell in developing an LNG project that would allow the country to export gas from its offshore resources. read more

Two oil giants could face trial in Italy over Nigerian deal

“Etete can smell the money. If, at 70 years old, he does turn his nose up at 1.2 billion he is completely certifiable.”

That’s a quote from a confidential email which is embarrassing the oil giant Shell. For years, Shell had strenuously denied that it knew anything about the involvement of convicted money launderer and former Nigerian oil minister Dan Etete in its purchase of the rights to one of Nigeria’s biggest oil fields.

But last week, the British environmentalist and anti-corruption organization, Global Witness, published confidential emails written by a Shell employee. This correspondence, which went right to the top of the Shell management hierarchy, proves that there was a direct link to the convicted Nigerian. After publication, Shell then decided that further clarification of its correspondence was needed. One had to negotiate with Etete “whether one wanted to or not,”  it said. read more

Oil majors BP and Royal Dutch Shell blighted by Citigroup rating downgrades

19 April 2017

In a note to clients, the US bank cut its stance on BP to ‘neutral’ and chopped its rating for Shell to ‘sell’ after scrutinising recent annual reports

Oil majors BP PLC (LON:BP.) and Royal Dutch ShellPLC (LON:RDSB) both fell back this morning under pressure from comment by Citigroup, which downgraded its ratings for both.

In a note to clients, the US bank cut its stance on BP to ‘neutral’ and chopped its rating for Shell to ‘sell’ after scrutinising recent annual reports. read more

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