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Nigeria Moves Closer to Energy Overhaul With New Oil Bill

Nigeria’s House of Representatives passed a bill governing the country’s energy sector after the Senate did so in May, taking Africa’s top oil producer one step closer to a much-awaited overhaul of the key industry.

The Petroleum Industry Governance Bill now awaits President Muhammadu Buhari’s signing to become law.

The bill will “promote openness and transparency in the industry by clarifying the rules, processes, and procedures that govern the oil and gas sector,” Senate President Bukola Saraki said in a statement Thursday. “After nearly two decades of back-and-forth, near-misses and ‘near-passages’, the 8th National Assembly finally reached a milestone.” read more

Shell and BP to Buy Libyan Oil as Country Recovers

Royal Dutch Shell Plc and BP Plc agreed annual deals to buy Libyan crude, underscoring how the North African country’s recovering production and improving security are enticing some of the world’s largest oil companies.

Shell’s deal with Libya’s National Oil Corp. was the first of its kind since 2013 and Europe’s biggest oil company will load its first cargo under the contract within days, according to people familiar with the matter, who asked not to be identified because they’re not authorized to talk to the media. BP, which didn’t have a term deal in 2017, also reached an agreement for this year, the people said. read more

Why the Dutch are Missing Out on the Global Natural Gas Glut

The world may never have produced more natural gas, but that’s little comfort for the Dutch government as it seeks to replace flows from Europe’s biggest field.

Lawmakers in the Netherlands on Tuesday will discuss options to supply their pipeline network, which was built around the relatively poor-quality gas from the Groningen deposit. More than a half century of production there triggered earthquakes, forcing the scaling back of output.

Progressive Decline

Annual gas output from the Groningen gas field under new rules read more

Shell Bolsters Renewables Bet With Stake in U.S. Solar Company

Royal Dutch Shell Plc is investing in a U.S. solar energy developer, continuing its recent expansion into the electricity business.

The Anglo-Dutch oil and gas producer will acquire a 44 percent stake in Nashville’s Silicon Ranch Corp., which owns and operates about 100 solar facilities across the U.S. The investment could be as high as $217 million in cash, depending on the company’s performance, making Shell the largest shareholder, according to a statement.

Shell has been growing its foothold in the power business as it prepares for a carbon-constrained world, including an agreement to purchase the U.K’s seventh-largest utility in December. Rivals BP Plc and Total SA have also expanding into offshore wind and solar in the past few years, reflecting changing government incentives and customer demands. read more

Shell Braces for Change by Expanding Its Foothold in Electricity

“The era of oil and gas and petrochemicals is not over, but the era of electric transport is also coming in,” van Beurden said.

Royal Dutch Shell Plc is taking small steps toward a future dominated by electric cars, renewable energy and carbon constraints, demonstrating its intent not to remain solely an oil and gas company.

The energy giant agreed last month to purchase First Utility Ltd., the U.K.’s seventh-largest power provider. Its offshore-wind partnership with Eneco may expand further, with newspaper Telegraaf reporting on Friday that Shell is considering buying the Dutch utility outright.

Big Oil entering the heavily regulated European power market isn’t a natural fit today. Yet it makes sense for a future in which consumers want charging points alongside gasoline pumps at fueling stations, and iPhone apps and smart home devices generate vast amounts of energy-use data that itself becomes a valuable commodity. read more

Big Oil Finds Hurdles Buried in Trump’s ‘America-First’ Tax Plan

For Big Oil, the U.S. tax overhaul is turning out to be a mixed bag, especially for companies that drill overseas.

Two weeks after President Donald Trump and congressional Republicans passed a sweeping rewrite of the tax code that cuts corporate rates, drillers are finding other changes that are less of a boon. BP Plc and Royal Dutch Shell Plc offered a preview recently, saying they may write off as much as $4 billion in tax assets as a result.

Caps on debt-interest payments and cuts to deductions from previous years’ losses may hurt companies building capital-intensive projects with borrowed money. And other provisions, including time limits on expensing exploration, could hem in drillers with long-term projects, including Exxon Mobil Corp. and Chevron Corp. That may also give an edge to domestic shale production. read more

Norway Faces Up to Big Oil’s Snub

Norway is realizing it will have to do without the deep pockets of the biggest oil companies as it seeks to extend an era that has made it one of the world’s richest countries.

The most recent blow came when only 11 companies applied for new blocks in the Arctic Barents Sea, touted as the country’s most promising area for exploration. Chevron Corp. and ConocoPhillips were absent after bidding the last time, while Exxon Mobil Corp. and Total SA remained out of the race. Of the five super-majors, only Royal Dutch Shell Plc applied. read more

The Year We Lost God But Gained OilCoin

Royal Dutch Shell Plc’s CEO Ben Van Beurden was creating a stir of his own by talking about “lower-forever” oil prices. 

: Dec 28, 2017

God didn’t die in 2017, but he did throw his hands up.

Andy Hall, the oil trader blessed with that nickname, caused a stir this summer by closing down his main hedge fund after long arguing for oil prices to rally and reportedly suffering big losses.

Hall didn’t declare oil was dead; indeed, he warned his withdrawal could be a contrarian signal (which turned out to be prescient).

Hall’s capitulation was a warning of a different kind. And while it may be mere coincidence, the appearance of something called OilCoin four months after God bowed out is a fitting coda. read more

All That New Shale Oil May Not Be Enough as Big Discoveries Drop

Three years after causing an oil-price crash, the shale boom may not be enough to meet rising global demand because the industry has cut back so sharply on higher-risk mega-projects.

Discoveries of new reserves this year were the fewest on record and replaced just 11 percent of what was produced, according to a Dec. 21 report by consultant Rystad Energy. While shale wells are creating a glut now, without more investment in bigger, conventional supply, the world may see output deficits as soon as 2019, according to Canadian producer Suncor Energy Inc. read more

Kuwait Signs LNG Import Deal With Shell, Has `Pressing’ Gas Need

Kuwait Petroleum Corp. signed a 15-year liquefied natural gas import deal with Royal Dutch Shell Plc to help the oil exporting nation meet growing domestic energy demand.

The sales purchasing agreement with Shell International Trading Middle East Ltd. will start in 2020, the companies said Sunday in an emailed statement. Shell has supplied Kuwait with the super-cooled fuel since 2010 and declined to say how much gas is covered under the new contract. While KPC is working to boost local natural gas production, Kuwait has a “pressing requirement” to secure natural gas supplies in the meantime, they said. read more

Eni, Shell to Face Trial in Italy in $1 Billion Bribery Case

The Anglo-Dutch company, whose former upstream director Malcolm Brinded is among those facing trial, acknowledged in April that it was aware of the destination of part of the payments…

Eni SpA and Royal Dutch Shell Plc and senior executives will face trial over a $1.1 billion bribery scandal in Nigeria, an Italian judge ruled on Wednesday.

The trial will start on March 5 in Milan, judge Giusy Barbara told reporters. The long-awaited decision, initially expected several months ago, will not only affect the two companies but 11 individuals including Eni Chief Executive Officer Claudio Descalzi.

The case is related to the acquisition of a deepwater oil-prospecting license by Eni and Shell in the Gulf of Guinea in 2011. Prosecutors allege that the two companies’ payment of almost $1.1 billion into a Nigerian government escrow account was later distributed as payoffs. While energy producers have come under scrutiny for bribery and corruption in the past, a trial centered around the sitting CEO of an oil major is rare. read more

Insidious Gas Leaks Are Casting Doubts Over Shell’s Clean Credentials

Methane seepage may make natural gas more polluting than coal

Gas focus, expansion of shale reinforce need for reliable data

After spending $50 billion on the world’s biggest bet on natural gas, Royal Dutch Shell Plc is at the forefront of Big Oil’s efforts to clean up its act. But what if the constant, insidious leaks of gas into the atmosphere actually make the fuel more polluting than coal? 

Methane, the main component in natural gas, can seep into the air at various points between extraction and delivery. Trapping more heat than carbon dioxide, it’s a potent contributor to global warming. Yet credible data on the volumes released is scarce, and that’s spurring pressure from investors.

“This is such an important issue,” said Tim Goodman, a director at asset manager Hermes EOS who has urged oil companies to address climate matters in their quarterly updates. “The less methane is lost to the environment, the less dirty methane and natural gas is, and the longer gas might be a viable fuel.” read more

Electric Cars’ Race to Nowhere

: Dec 19, 2017

Once upon a time, it was only Elon Musk making shoot-for-the-stars statements about the glittering future of electric cars. Now, even the most sober of his rivals are getting in on the act. Chongqing Changan Automobile Co. and BAIC Motor Corp., China’s fourth- and fifth-largest automakers, announced in October and this month that they’ll end deliveries of petroleum-powered cars by 2025. A target for hybrids and electric vehicles to be 90 percent of Geely Automobile Holdings Ltd.’s sales by 2020 is still on track, according to a company presentation last week, despite making up about 1.5 percent of the total in the first half. read more

Shell Atones for Its Past Sins

: Nov 28, 2017

It’s payback time for investors in Royal Dutch Shell Plc. Shareholders in the Anglo-Dutch oil company have had to endure receiving their dividends partly in stock throughout the industry price slump. This mild austerity is now ending. Shell is signalling that when it comes to spending its cash, shareholders will get first dibs.

The move to a full cash dividend, announced on Tuesday, is only just affordable. Investors should feel lucky the dividend wasn’t cut. In the 12 months to Sept. 30, organic free cash flow of $17 billion wouldn’t have covered the full dividend bill plus interest on Shell’s $68 billion net debt. read more

Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’

Norway’s proposal to sell off $35 billion in oil and natural gas stocks brings sudden and unparalleled heft to a once-grassroots movement to enlist investors in the fight against climate change.

The Nordic nation’s $1 trillion sovereign wealth fund said Thursday that it’s considering unloading its shares of Exxon Mobil Corp., Royal Dutch Shell Plc and other oil giants to diversify its holdings and guard against drops in crude prices. European oil stocks fell.

Norges Bank Investment Management would not be the first institutional investor to back away from fossil fuels. But until now, most have been state pension funds, universities and other smaller players that have limited their divestments to coal, tar sands or some of the other dirtiest fossil fuels. Norway’s fund is the world’s largest equity investor, controlling about 1.5 percent of global stocks. If it follows through on its proposal, it would be the first to abandon the sector altogether. read more

Big Oil is under pressure, unloved and on sale. 

  • Norway wants to dump its stakes in oil and gas companies
  • Proposal adds to doubts over industry’s long-term outlook

Big Oil is under pressure, unloved and on sale.

Energy giants from Exxon Mobil Corp. to Royal Dutch Shell Plc are struggling back to their feet after a three-year oil slump, while also fighting to prove they can survive for decades to come amid an accelerating shift to clean energy. So getting dumped by the world’s biggest investment fund wouldn’t be welcome news.

Norway’s $1 trillion sovereign wealth fund said on Thursday that it wants to sell about $35 billion of shares in oil and gas companies to make the nation “less vulnerable” to a drop in crude prices. Global energy giants favored by long-term investors including Italy’s Eni SpA, PetroChina Ltd. and Russia’s Gazprom PJSC account for more than $20 billion of that total. read more

World’s Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.  

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

“Our perspective here is to spread the risks for the state’s wealth,” Egil Matsen, the deputy central bank governor overseeing the fund, said in an interview in Oslo. “We can do that better by not adding oil-price risk.” read more

Woodside Falls Most in Year After Shell to Sell Stake

Shares falls as much as 3.5% in early Australia trading

Allan Gray Australia says it boosts stake in the LNG producer

Woodside Petroleum Ltd. fell the most in a year after Europe’s biggest oil company, Royal Dutch Shell Plc, said it would offloaded its entire holding in the Australian liquefied natural gas producer for $2.7 billion.

Woodside shares fell as much as 3.5 percent in intraday trading on Tuesday to A$31.10 ($23.74), and changed hands at A$31.19 at 11:51 a.m. in Sydney. Shell said it would sell an 8.5 percent stake in Woodside at A$31.10 a share, a 3.5 percent discount to Woodside’s closing price on Monday. The Anglo-Dutch company then expanded that sale overnight to exit its remaining 4.8 percent holding. read more

Shift to Hydrogen Could Meet 20% of World Energy Needs by 2050

Shell, Statoil and BMW among companies urging support for fuel

Transition requires investment of up to $25 billion a year

The most abundant element may supply almost a fifth of global energy by 2050 and eliminate enough emissions to cancel out all the pollution in the U.S., according to a group of industrial companies from Royal Dutch Shell Plc to Toyota Motor Corp.

Fuel-cell vehicles running on hydrogen, extracted from water using wind and solar power, may be used to power everything from cars to factories, according to the Hydrogen Council, a group that also includes the German automaker BMW AG, the mining giant Anglo American Plc and the French energy company Engie SA. The group estimated hydrogen has the potential to reduce carbon dioxide emissions by about 6 gigatons a year, more than the 5.5 gigatons the U.S. released in 2016. read more

Why Energy Giants Will Continue to Dominate LNG Market

Trade in the $90 billion market for the superchilled gas is poised to double by 2040: Photographer: Tomohiro Ohsumi/Bloomberg 

Total SA’s billion-dollar deal to buy liquefied natural gas assets from Engie SA shows how much size matters in the industry. 

After Royal Dutch Shell Plc’s takeover of BG Group Plc last year, industry consultant Wood Mackenzie Ltd. says the latest accord is evidence that the biggest energy companies with access to large volumes of diverse supplies will continue to dominate, even as commodity traders from Glencore Plc to Trafigura Group Pte are expanding.  read more

As Oil Prices Rise, Global Majors Eyeing Mexico’s Deep Waters

By Adam Williams: 9 November 2017, 21:27 GMT: Updated on 10 November 2017, 05:01 GMT

As the price of oil rises, an international rush is on for Mexico’s untapped deep-water riches.

The who’s who of the oil world — led by Exxon Mobil Corp and Royal Dutch Shell Plc, the world’s two biggest drillers by market value — are lining up to bid in the country’s Jan. 31 deep-water auction. And the interest is international in scope, drawing Chevron Corp. from the U.S., the U.K.’s BP Plc, Norway’s Statoil ASA, France’s Total SA, Australia’s BHP Billiton Ltd, Russia’s Lukoil PJSC and China’s Cnooc Ltd, among others. read more

Oil Tumbles as Surprise Stockpile Surge Outweighs Platform Woes

  • Shell shuts Enchilada platform in Gulf of Mexico Wednesday
  • U.S. drillers lift crude production to an all-time high: EIA

Crude went on a roller-coaster ride Wednesday as platform closures in the Gulf of Mexico led futures to spike, while the stubborn increase in U.S. supplies pulled prices back down.

Oil closed 0.7 percent lower in New York after alternating between gains and losses in the session. Multiple platforms in the Gulf of Mexico suspended operations after Royal Dutch Shell Plc shut its Enchilada-Salsa platform due to a fire. While the shutdowns caused shortages, the prevailing mood was set by a government report showing crude stockpiles unexpectedly rose last week, overseas demand shrank and U.S. output hit a record-high. read more

Royal Dutch Shell takes cashflow crown off Exxon Mobil

Royal Dutch Shell has taken Exxon Mobil’s cashflow crown, a year after completing the biggest deal in its history.

Europe’s largest energy company vaulted ahead on this closely watched indicator of financial health in the first nine months of 2017 as assets acquired from BG Group from Brazil to Australia churned out cash. For the year as a whole, Shell is on course to surpass its larger US rival on the measure for the first time in about two decades.

Shell generated $28.38 billion (€24.34bn) of cashflow from operations in the first nine months of the year, compared with $23.52 billion (€20.18bn) from Exxon. Chief executive Ben Van Beurden has already spelled out that his main long-term goal was overtaking Exxon to become the best-performing oil major. read more

The World’s Hidden Gas Giant

The world’s biggest new gas giant has been hiding in plain sight.

Despite some of the world’s largest reserves of natural gas, PetroChina Co. is still predominantly viewed through the lens of crude oil. That’s overdue a change.

Oil production in the nine months through September fell 5.2 percent while natural gas climbed 4.5 percent, the Beijing-based company said Monday. Based on those numbers, third-quarter oil production of 224.3 million barrels represented less than 60 percent of the total when set against natural gas output of about 152.1 million barrels of oil equivalent. read more

Big Oil Is Investing Billions to Gain a Foothold in Clean Energy

The world’s biggest oil companies are closing more clean energy deals as pressure to diversify their businesses mounts and growth accelerates among green technologies.

Oil majors more than doubled the number of acquisitions, project investments and venture capital stakes, to 44 in 2016 from 21 the year before, according to research published Tuesday by Bloomberg New Energy Finance. In the last 15 years, they’ve completed 428 transactions and spent $6.2 billion building stakes in clean energy companies. read more

You Can Now Charge Electric Cars at Shell in the U.K.

Royal Dutch Shell Plc opened its first rapid charging point for electric cars at gasoline stations in the U.K., the latest sign that oil majors are waking up to the disruption plug-in vehicles could have on their industry.

The new Shell Recharge service is available at three sites in London, Surrey and Derby. It will expand to seven other locations in London and Reading by the end of the year, according to an emailed statement.

Britain has more than 8,000 retail stations, and those are closing at a rate of about 100 per year and and may number 6,000 by 2035 as electric cars spread, according to analysis by the oil-industry researcher Wood Mackenzie. In a race to lead the world in battery powered cars, the U.K. has also said it may require motorway service areas and large gasoline stations to install electric vehicle recharging points. It’s also said it will ban the sale of new vehicles that take diesel fuel by 2040. read more

Slowing Demand Growth to Push Big Oil From Cars to Chemicals

Global oil demand growth will slow to a crawl and gasoline use will peak within the next decade, prompting the world’s biggest energy companies to accelerate the shift to natural gas and chemicals, according to consultant Wood Mackenzie Ltd.

Major crude producers will have to adapt to significant changes in the coming years, but their businesses can grow. Oil consumption will keep expanding until at least 2035 as the petrochemical industry, which provides the building blocks to manufacture everything from plastics to pesticides, makes up for the contraction in some transport fuels, Wood Mackenzie said in a report on Monday. read more

Shell has seen the future – and it’s several shades of green

Ben Van Beurden, chief executive officer of Royal Dutch Shell, sees a future dominated by gas and renewables, with gas the clear winner. Photo: Bloomberg

By Ben Marlow: 

If there is one subject that divides energy producers it’s the question of when oil demand will peak.

Indeed, it is such a controversial topic that some senior figures like Saudi Arabia’s Energy Minister, Khalid al-Falih, prefer not to discuss it at all.

He claims talk of peak demand is dangerous. It threatens to reduce vital investment, “compromising” energy security, al-Falih said earlier this year.

John Watson, boss of American oil giant Chevron, recently dismissed the idea of peak demand as “wishful thinking”. read more

Shell to Seek Sale of Stake in $1.4 Billion Wind Farm

Royal Dutch Shell Plc and its partners Eneco Holdings NV and Mitsubishi Corp. are seeking to sell a stake in two Dutch offshore wind-farm projects that may cost $1.4 billion to develop, two people familiar with the plan said.

The companies are looking to reduce their ownership in the Borssele III and IV wind farms by as much as 45 percent, according to the people who asked not to be named because they aren’t authorized to speak about it publicly. The fourth partner, infrastructure contractor Van Oord NV, is keeping its share of the project. read more

Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market

Step aside OPEC, diesel is now driving up oil prices.

With industrial activity surging worldwide, the fuel — known in the industry as ultra-low sulfur diesel or ULSD — is enjoying strong demand, accelerating total oil consumption growth in 2017 well above the 10-year average. 

And just as demand rose faster than expected, diesel supply was hit, prompting a rapid tightening. First in Europe: the Pernis refinery, owned by Royal Dutch Shell Plc and considered one of the region’s diesel machines, suffered a fire in July and shut down for several weeks. And then in the U.S., where hurricane Harvey in late August temporarily knocked out a dozen refineries, disrupting both domestic supplies and distant export markets.

“The oil market is currently driven by four letters: It’s ULSD, not OPEC,” said Olivier Jakob, managing director of consultant Petromatrix GmbH. read more

Statoil Vies for a Stake in Abu Dhabi’s Offshore Oil

Statoil ASA is among producers involved in discussions with the Abu Dhabi National Oil Co. about joining offshore production in the emirate, according to a Norwegian diplomatic dispatch.

“All the major oil companies, including Statoil, are positioning themselves for a cooperation with Adnoc in the offshore segment,” Norway’s embassy in Abu Dhabi wrote in a message to the Foreign Ministry in Oslo dated Aug. 17, which was obtained by Bloomberg through a freedom-of-information request. read more

Iran Says OPEC Action on Output Cuts Must Address Libya, Nigeria

OPEC’s commitment to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh said. 

Compliance with the output cuts is “acceptable,” Zanganeh told reporters in Tehran. The Organization of Petroleum Exporting Countries should focus on “the situation with Libya and Nigeria,” he said, referring to the two countries exempted from capping production due to their internal strife. read more

Economic storm on the horizon

The rise of battery-powered cars threatens disaster for Houston’s oil and gas economy.

Halfway around the globe, a storm is brewing that will pose a greater threat to our oil and gas industry than Hurricanes Harvey or Ike, or even a massive storm surge right up Houston Ship Channel.

The danger: China wants to stop buying gasoline. Specifically, at an automotive conference in Tianjin, the nation’s vice minister of industry and information technology stated that the government is planning on a total phaseout of vehicles powered by fossil fuels. This announcement follows similar plans from Britain and France to ban sales of diesel and gasoline cars by 2040. That’s decades away, but the world is undeniably moving towards a future where the internal combustion engine is a thing of the past. read more

Big Oil Becomes Greener With Cuts to Greenhouse Gas Pollution

It’s no secret that oil majors are among the biggest corporate emitters of pollution. What may be surprising is that they’re reducing their greenhouse-gas footprints every year, actively participating in a trend that’s swept up most corporate behemoths.

Sixty-two of the world’s 100 largest companies consistently cut their emissions on an annual basis between 2010 and 2015, with an overall 12 percent decline during that period, according to a report from Bloomberg New Energy Finance released ahead of its conference in London on Monday. read more

Oil Majors Cut Greenhouse Gas Pollution

By Foster Wong: 18 September 2017

Big Oil had started fighting climate change before President Donald Trump took office read more

Shell Retail Looks to the Future With Car Charging, Clean Fuels

A Mirai hydrogen fuel powered automobile, manufactured by Toyota Motor Corp., sits on the forecourt at Royal Dutch Shell Plc’s first U.K. hydrogen refueling station in Cobham, U.K., on Wednesday, Feb. 22, 2017. Shell, crafting a strategy to wean itself off oil, is expanding its operations in the refueling market for hydrogen cars. Photographer: Chris Ratcliffe/Bloomberg Rakteem Katakey, Javier Blas: BloombergSeptember 11, 2017

Royal Dutch Shell Plc wants 20 percent of income from its retail forecourts to come from vehicles that don’t burn diesel or gasoline, as the company anticipates an accelerating transition to clean energy over the coming decade. 

Shell set up its first hydrogen refueling station in the U.K. earlier this year and will install its first electric car charging point later this month, said John Abbott, the top executive of its downstream business, which includes refining, marketing, retail, trading and chemicals. By 2025, he expects these new operations supplying cleaner fuels, including natural gas, to make up a fifth of retail earnings. read more

Shell Expects Australia Gas Shortage to Trigger Export Restriction

The world’s second-biggest liquefied natural gas exporting nation will probably curb shipments next year to avoid a domestic shortfall of the fuel, according to the Australian head of Royal Dutch Shell Plc.

The Australian Energy Market Operator will probably declare a shortage for eastern states in the next two to four weeks, Shell Australia Chairwoman Zoe Yujnovich said at a Bloomberg event Wednesday in Sydney. That would trigger the country’s domestic gas security mechanism, a policy announced in June that could limit LNG exports from plants that draw more gas from local markets than they supply. read more

Shell Invests to Boost Global Gas Demand

Europe’s biggest energy company is investing in projects to boost global gas demand and aims to continue feeding the market it’s nurturing with new liquefied natural gas export plants.

Royal Dutch Shell Plc is supporting the development of gas use in heavy transport such as shipping and is also helping smaller and less credit worthy customers begin importing LNG, Maarten Wetselaar, the company’s director of integrated gas and new energies, said at an event at Bloomberg’s Sydney office Wednesday. As new LNG customers enter the market, that will open a window for Shell and others to develop new low-cost export plants. read more

Shell Joins Solar Push in Coal Country of World’s Top Exporter

Royal Dutch Shell Plc is investigating a solar power project in an Australian region better known for its fossil fuels, particularly coal.

The company is studying the feasibility of a solar development on its land in the Western Downs area of Queensland, which is subject to a final investment decision, a spokeswoman said by email. Though Shell’s statement didn’t elaborate on timing or size, the regional council this week said it had approved construction of the 250-megawatt Delga Solar Farm project proposed by Shell at Woleebee, near Wandoan. read more

Shell to Mull Buying Israeli, Cyprus Gas for Egypt Plant

Royal Dutch Shell Plc is seeking creative solutions to bring gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas-producing hub.

Shell is in talks to buy natural gas from Israel’s Leviathan field, combine it with output from Cyprus’s Aphrodite field, in which it owns a 35 percent stake, and pump it to a liquefied natural gas plant in Egypt, according to people with knowledge of the matter. Talks are at an early stage and some of Aphrodite’s gas could be sold locally, said the people, who asked not to be named because the discussions are private. read more

Shell Loads Oil in Libya for the First Time in Five Years

Royal Dutch Shell Plc, the world’s largest oil trader, is said to have loaded its first crude from Libya in five years over the weekend, adding to evidence of the OPEC nation’s comeback.

The cargo on Saturday is for 600,000 barrels of crude from the Zueitina port, according to two people familiar with the matter who asked not to be identified because the information is private. A Shell spokesperson declined to comment on the shipment, but said the company’s Shell International Trading & Shipping “has a history marketing Libyan crudes. We welcome new business opportunities with Libya’s National Oil Corp.” read more

Big Oil Follows Silicon Valley Into Backing Green Energy Firms

Oil majors quietly investing into new technology start-ups

‘Disruptive power’ from small companies prompts Shell to move

Major oil companies are joining Silicon Valley in backing energy-technology start-ups, a signal that that those with the deepest pockets in the industry are casting around for a new strategy.

From Royal Dutch Shell Plc to Total SA and Exxon Mobil Corp., the biggest investor-owned oil companies are dribbling money into ventures probing the edge of energy technologies. The investments go beyond wind and solar power into projects that improve electricity grids and brew new fuels from renewable resources. read more

Equis Is Said to Seek Binding Bids for $4 Billion Power Assets

Equis Energy, the Singapore-based developer of power projects, has asked for binding bids for its $4 billion renewable energy business by late September, people with knowledge of the matter said.

A consortium led by I Squared Capital is among suitors chosen to proceed in the bidding for the portfolio of Asia Pacific assets, according to the people. The infrastructure investment firm is partnering with Thai utility Electricity Generating Pcl and Japanese trading house Mitsubishi Corp., the people said, asking not to be identified because the information is private. read more

Oil Poised for Weekly Loss Amid Weaker Demand Outlook

IEA sees OPEC’s commitment to clearing global glut fading Agency reduced demand estimates for this year and 2018

Royal Dutch Shell Plc has restarted four units at its Pernis refinery and more will be brought online in the coming days, according to an environmental regulator.

Oil slipped, heading for the biggest weekly loss in a month, as the outlook for demand dimmed amid an already shaky market.

Futures dropped 0.8 percent in New York Friday, poised for a weekly decline of 2.8 percent. The International Energy Agency reduced demand estimates for OPEC crude this year and in 2018, and said there are doubts about the group’s commitment to cutting production, according to its monthly report released Friday. Even a pledge by Saudi Arabia and Iraq to strengthen their commitment to the curbs and maintain balance in world crude markets isn’t helping to prop up prices. read more

Shell Is Said to Aim for Full Restart of Pernis by End of August

Royal Dutch Shell Plc is aiming to return its Pernis refinery in Rotterdam to full operations by the end of this month, according to a local resident who was briefed on the matter by the company.

The company held a meeting for about 200 local residents late Wednesday, giving a first indication of when Europe’s largest refinery would resume normal operations after a fire in late July halted both crude units. The company said earlier this week that the first supporting units had been brought back online, without elaborating on the resumption of operations. read more

Shell restarting Europe’s biggest oil refinery

Written by

European diesel prices slumped as traders anticipated more fuel supply.

Shell is trying to restart a crude distillation unit at the Pernis refinery in Rotterdam.

A Shell spokesperson said: “Shell Pernis shut down most of its units on July 30 due to a power outage.

We are currently restarting a number of units as part of the phased restart of the full complex. Complete restart will take place in a structured and controlled way. Flaring and noise will be part of recommissioning. We will do our utmost to minimize impact for residents. read more

Europe’s Biggest Oil Refinery Plans to Restart Key Unit

By Bill Lehane: 8 August 2017, 13:21 BST

  • Shell to try Pernis crude-unit restart, person familiar says

  • Diesel prices slump as traders anticipate increased supply

Royal Dutch Shell Plc will attempt on Friday to restart one of two crude units at Europe’s biggest oil refinery that were halted by a fire late last month, a person with knowledge of the matter said. European diesel prices slumped as traders anticipated more fuel supply.

Shell will try to restart a crude distillation unit at the Pernis refinery in Rotterdam, the person said, asking not to be identified because the matter isn’t public. A spokesman for the company declined to comment. Diesel futures extended their decline by as much as 0.9 percent in less than an hour after the planned restart became known, and were trading at $480 a metric ton at 12:27 p.m. in London, ICE Futures Europe data showed. read more

Shell and BP’s commitment to North Sea oil ‘rock solid’

Shell and BP’s commitment to North Sea oil ‘rock solid’

Majors’ cost reductions have narrowed gap in competitiveness with other parts of world

Ben van Beurden, chief executive of Shell, has signalled that he too is once again viewing the North Sea as an investment opportunity, despite selling more than half of the group’s UK production to Chrysaor, a small UK company backed by US private equity funds, for up to $3.8bn in January. Last month, Mr van Beurden identified the Penguins field in the northern North Sea as among a handful of projects around the world that Shell would consider giving the green light to in the next 18 months. FULL FT ARTICLE

Who needs oil at $100? Majors making cash at $50: Goldman

BloombergUpdated: Aug 03, 2017, 08.55 AM IST

Integrated giants like BP and Royal Dutch Shell have adapted to lower prices by cutting costs and improving operations, analysts at the bank including Michele Della Vigna said in a research note on Wednesday.

European majors made more cash during the first half of this year, when Brent averaged $52 a barrel, than they did in the first half of 2014 when prices were $109. Back then, high oil prices had caused executives to overreach on projects, leading to delays, cost overruns and in inefficiency, Goldman said. read more

Shale drillers show few signs of slowing as profits expand

Shale drillers show few signs of slowing as profits expand

The optimism from the U.S. shale fields followed quarterly reports last week that showed major international producers including Exxon Mobil Corp. and Royal Dutch Shell Plc are also learning to make money at $50 a barrel…

Alex Nussbaum and Joe Carroll, Bloomberg: Published 6:46 am, Wednesday, August 2, 2017

The shale surge that’s tied down global oil prices shows no signs of abating, as four of the biggest U.S. drillers said they’re not backing away from lofty production targets for 2017.

In second-quarter earnings reports, EOG Resources Inc., Devon Energy Corp., Newfield Exploration Co. and Diamondback Energy Inc. all outlined goals on Tuesday that would help push U.S. output toward a record 10 million barrels a day next year. Even Pioneer Natural Resources Co., which trimmed the top end of its forecast due to delays in the Permian shale basin, still expects to increase oil and natural gas volumes by 16 percent at year’s end. read more

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