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Kitimat patiently waits for its gas boom as global LNG markets head towards balance

GEOFFREY MORGAN, FINANCIAL POST 21 Sept 2017

CALGARY – Despite multiple liquefied natural gas project cancellations recently on Canada’s West Coast in recent weeks, the mayor of Kitimat, B.C. is still confident at least one will be built in his town – and even some of the more pessimistic analysts are beginning to agree.

“We’re still extremely positive,” Kitimat mayor Phil Germuth said of the prospects for two LNG projects proposed in and around his northern B.C. town. He said preliminary site work is underway at both Chevron Corp.’s Kitimat LNG project and the Shell Canada Ltd.-led LNG Canada project. read more

Shell Canada shuts some gas operations due to southern Alberta wildfire

Nia Williams: SEPTEMBER 12, 2017 / 8:59 PM

CALGARY, Alberta (Reuters) – Shell Canada, a subsidiary of Royal Dutch Shell Plc (RDSa.L), is shutting some gas operations in its Waterton complex in southern Alberta as a precaution against an uncontrolled wildfire raging nearby, the company said on Tuesday.

The Waterton complex includes natural gas wells and a processing plant and has production capacity of nearly 179 million cubic feet per day.

So far the company has not shut its Waterton gas plant but is closely monitoring the situation, spokesman Cameron Yost said in a statement. 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

Canada’s Oil Industry Doomed If Prices Fall Lower

By Nick Cunningham – Aug 20, 2017, 6:00 PM CDT

Canada’s oil industry has faced a lot of strain lately. The list of oil majors selling off assets and withdrawing from high-cost oil sands is long. ConocoPhillips, Royal Dutch Shell, Marathon Oil, Murphy Oil and Statoil have sold upwards of $25 billion worth of oil sands assets this year. ExxonMobil also wrote down more than 3.5 billion barrels of oil reserves in Canada at the beginning of 2017. The companies viewed Alberta’s bitumen and heavy oil as no longer competitive in a $50 market, and many of them are focusing on other types of production, such as shale. read more

Shell launches pilot to test methane detection technology

Shell launches pilot to test methane detection technology

Image: Pilot testing new methane detection technology at Shell shale gas site. (Photo credit: Shell/Ian Jackson) (CNW Group/Shell Canada Limited).

EBR Staff Writer: Published 10 August 2017

Royal Dutch Shell has launched a methane detector pilot aimed at enabling early detection and repair of methane leaks to ultimately cut down on emissions during the production of natural gas.

The launch was done at a shale gas site of Shell in Canada near Rocky Mountain House in Alberta province.

Shell says that the pilot test is part of the Methane Detectors Challenge, a wider multi-stakeholder initiative which involves the Environmental Defense Fund (EDF), oil and gas firms, US government agencies and technology developers. The objective of the challenge is to assess next generation methane detection technologies. read more

LNG possibility lives on, even after death of Pacific NorthWest LNG

And two other large global energy players with regulatory approval from the B.C. and Canadian governments say they are trying to position themselves to be ready to make a decision on building their own billions-of-dollars of mega-projects in northwest B.C. to coincide with increased demand they forecast could kick in by the middle of next decade. Those projects are LNG Canada led by Royal Dutch Shell plc and Kitimat LNG, a 50-50 venture of Chevron and Australian-based Woodside Energy. read more

Shell Still Thinks Canadian LNG Project Could Be a Go

By Natalie Obiko Pearson:   

Royal Dutch Shell Plc said it hasn’t written off its Canadian liquefied natural gas project in Kitimat, British Columbia, yet as a global supply glut killed off a competing project earlier this week.

LNG Canada, which is also backed by Mitsubishi Corp., PetroChina Co. and Korea Gas Corp., is still weighing an investment decision that’s expected by early 2019, Shell’s Chief Executive Officer Ben Van Beurden said on a conference call Thursday.

“We need to get the timing properly right — we think we can,” he said. “If we look at an investment decision in the next 18 months or so, this is going to be a project that could start producing right at the moment when the spot market, the short-term market is getting very tight again.” read more

Shell nears finishing line with $30billion divestment programme

Shell nears finishing line with $30billion divestment programme

Shell has completed more than 80% of its $30billion divestment programme.

Written by

The supermajor announced this morning that it had shed assets worth $25billion as part of the reshaping of its portfolio.

This included the landmark North Sea deal with Chrysaor earlier this year, worth around $3.8billion.

It also comes following the $68.2billion merger with BG Group.

The supermajor also recently agreed to sell its stake in Irish gas project Corrib in a deal worth up to 1.23 billion US dollars (£956 million).

The firm said adjusted earnings rose from 1.05 billion US dollars (£800 million) to 3.6 billion US dollars (£2.7 billion), an increase of 245%. read more

Malaysia’s Petronas scraps $11.4-billion LNG project in B.C.

CALGARY and OTTAWA — The Globe and Mail

Published

Last updated

Malaysia’s Petronas has cancelled plans for an $11.4-billion liquefied natural gas terminal on the B.C. coast, a major blow to Canada’s efforts to become a global LNG supplier.

The move to scrap the Pacific NorthWest LNG plant, which had been slated for Lelu Island near Prince Rupert, comes after five years of study, a period in which LNG prices fell as other countries such as Australia and the United States started up multibillion-dollar facilities. read more

4 Things Royal Dutch Shell’s CFO Thinks You Should Know

Tyler Crowe: (TMFDirtyBird): 17 July 2017

We all knew that Royal Dutch Shell‘s (NYSE:RDS-A) (NYSE:RDS-B) management had big plans to transform the company post-BG Group merger, but I don’t think we anticipated it to happen this quickly. Not only has the company executed tens of billions in asset sales over the past several months, but the company’s cash flows from operations seem to suggest that management is wringing out a lot of inefficiencies that have plagued Shell’s returns for years. read more

Shell unloads its stake in Corrib

Development of the Corrib field sparked a series of confrontations between the Irish police and environmental demonstrators before the first gas was brought ashore two years ago: NIALL CARSON/PRESS ASSOCIATION

Royal Dutch Shell has sold its stake in the contentious Corrib gas project off the Republic of Ireland to a Canadian pension fund for up to $1.23 billion.

The Anglo-Dutch energy group agreed to sell its 45 per cent stake in Corrib, about 50 miles off Ireland’s northwest coast, to a subsidiary of the Canada Pension Plan Investment Board.

The latest deal in a $30 billion divestment programme comprises a $947 million payment up front and up to a further $285 million between 2018 and 2025, depending on gas prices and production. read more

Canadian pension fund bullish as Shell pulls plug on Corrib stake

Shell’s disillusionment with the Corrib investment, where protests and opposition delayed production by more than a decade…

13 July 2017

No doubt, Shell is glad to see the back of the Corrib natural gas field, even if it is on track to lose about €1 billion on 15 years of heavy investment in the controversial project.

The sale of its 45 per cent interest in the gas field off the Mayo coast to the Canada Pension Plan Investment Board (CPPIB) for €830 million is part of a $30 billion (€26.3 billion) asset sale programme by the Anglo-Dutch group as it seeks to cut its $90 billion debt pile following its takeover of smaller UK rival BG Group early last year. read more

Shell Signs Agreement for biofuel technology

CALGARY, June 27, 2017 /CNW/ – Royal Dutch Shell plc, through its subsidiary Shell International Exploration and Production B.V. (“Shell”), and SBI BioEnergy Inc. have reached an agreement granting Shell exclusive development and licensing rights for SBI’s biofuel technology. Edmonton-based SBI has a patented process that can convert a wide range of waste oils, greases and sustainable vegetable oils into lower carbon drop-ins for diesel, jet fuel and gasoline. Under the agreement, Shell and SBI will work together to demonstrate the potential of the technology and, if successful, scale up for commercial application. read more

Canada M&A Hits Decade-High as Foreign Owners Flee Oil Sands

Mergers and acquisitions in Canada are set for the strongest start in a decade as foreigners sell their oil sands investments. ConocoPhillips and Royal Dutch Shell Plc are leading the exodus amid a bear market for crude. However, Canadian producers are responding by pumping money into oil deposits in the remote boreal forests, which trail only Saudi Arabia and Venezuela in proved reserves but are more expensive to extract.

FULL ARTICLE

Hackers Hit 75% of Drillers as Sketchy Monitoring Is Blamed

Three out of four oil and natural gas companies fell victim to at least one cyber attack last year as hacking efforts against the industry become more frequent and sophisticated.

That’s the finding from a report released Monday by industry consultant Deloitte LLP. Technology advances, such as Royal Dutch Shell Plc’s recent control of operations in Argentina from an operating center in Canada, offer new openings for hackers, the authors wrote.

At the same time, older equipment that must be retrofitted for cybersecurity, including the pumps known as nodding donkeys, make it tougher to defend against sophisticated attacks. Less than half of drillers use any monitoring tools on their upstream operations networks, the report found. Of those, only 14 percent have fully operational security monitoring centers. read more

Shell says it will proceed with B.C. energy plans despite political uncertainty

DAN HEALING, THE CANADIAN PRESS 

CALGARY — Royal Dutch Shell will forge ahead with its energy development plans in British Columbia regardless of the uncertainty swirling around the province’s political future, says the company’s Canadian country chair.

Energy investments in B.C. have been cast into doubt after the May 9 provincial election that saw the Liberals win 43 seats and the NDP take 41— a situation that gives the Green party the balance of power with their three seats. read more

Shell Canada budget drops by half a billion dollars after oilsands sale

The Canadian Press Published Tuesday, June 6, 2017 2:22PM EDT

CALGARY – The president of Shell Canada says his capital budget will shrink by about half a billion dollars this year following the sale of most of its oilsands assets in a deal that closed last week.

Michael Crothers says it will be about $1.5 billion this year, down from over $2 billion in 2016, but the Canadian branch remains an important part of Royal Dutch Shell’s global operations.

He said in an interview the company’s sale of oilsands assets to Canadian Natural Resources (TSX:CNQ) means it will now concentrate on its shale oil and gas properties in B.C. and Alberta, along with its refining and chemical businesses near Edmonton and its proposed West Coast LNG project. read more

After oilsands divestments, Shell Canada refocuses on gas, chemicals and renewables

Geoffrey Morgan | June 6, 2017 4:27 PM ET
More from Geoffrey Morgan | @geoffreymorgan

Shell Canada President & Country Chair Michael Crothers during an interview in Calgary, Alberta: Photograph by Todd Korol for National Post

CALGARY – Shell Canada Ltd. will soon announce a project to turn vegetable products into diesel fuel in Alberta, as part of the company’s transition to produce less oil and more energy from natural gas, renewables and chemicals.

This follows Shell’s massive US$7.25-billion divestment of its oilsands assets, announced March 9. The company still plans to build an LNG terminal in British Colombia, but no timeline has been set. read more

Shell Canada statement on oil sands divestment

CALGARY, May 31, 2017 /CNW/ – A statement from Shell Canada President and Country Chair Michael Crothers on the completion of two previously announced agreements that will see Shell sell the majority of its oil sands interests and all of its in-situ interests in Canada:

“Shell has built safe, responsible and competitive oil sands mining and in-situ businesses in Alberta over the past decades thanks to the tireless work and dedication of our staff, contractors and joint venture partners; strong support from local communities, including our indigenous neighbours; and leadership from all levels of government. I am immensely proud of everything we have achieved together and of the legacy we leave to Canadian Natural. read more

Canadian Oil Sands Brace As Oil Majors Dump Shares

By Tsvetana Paraskova – May 30, 2017, 5:00 PM CDT

Royal Dutch Shell and ConocoPhillips struck deals in March to sell Canadian oil assets to two Canada-based producers. In both deals, parts of the consideration for the transactions were shares of the Canadian companies that Shell and ConocoPhillips received.

Although the share transactions are subject to lock-up periods of up to six months following the closing of the deals, Shell and ConocoPhillips are getting ready to sell those shares—possibly months after acquiring them—regulations and agreements permitting. read more

Shell, ConocoPhillips oil sands share selloff risks flooding market

By Nia Williams

CALGARY, Alberta, May 24 (Reuters) – Canadian equity markets risk being swamped with oil sands company shares this year as Royal Dutch Shell and ConocoPhillips prepare to offload C$6.8 billion ($5.1 billion) worth of stakes in two domestic producers, just months after acquiring them.

The two firms acquired shares in Canadian Natural Resources Ltd and Cenovus Energy as part of deals struck earlier this year to sell off oil sands assets.

Sources told Reuters on Tuesday that Shell has decided to sell its C$4.1 billion stake in CNRL while ConocoPhillips has said it is not a long term investor in Cenovus. read more

Shell to sell C$4.1 billion stake in Canadian Natural -sources

Shell to sell C$4.1 billion stake in Canadian Natural -sources

By John Tilak and David French: 23 May 2017

TORONTO/NEW YORK, May 23 (Reuters) – Royal Dutch Shell Plc has decided to offload a roughly C$4.1 billion ($3 billion) stake in Canadian Natural Resources Ltd (CNRL) that it acquired as part of a deal to retreat from Canada’s oil sands earlier this year, people familiar with the situation told Reuters.

Shell has been interviewing investment banks to hire a financial adviser for the share sale, four people said in the past week, declining to be named as the discussions are confidential. read more

Shell in deal with top university to influence its curriculum

by Emma Howard: MAY 16, 2017

Shell has a contractual agreement with a major Dutch university, which allows it to influence the curriculum and “the profile of its students”, according to documents seen by Energydesk.

The oil giant also paid Erasmus university hundreds of thousands of euros for conducting research into the business climate for multinationals in the Netherlands, invoices paid in 2008 and 2009 show.

The contract was signed in 2012 between Shell and the Rotterdam School of Management (RSM), an international business school which is based at Erasmus university in the Netherlands, where Shell is headquartered. read more

Why I’d Keep Selling Royal Dutch Shell Despite Q1 Profits Bounce

Royston Wild , CONTRIBUTOR: 4 May 2017

Royal Dutch Shell moved away from multi-month lows in Thursday business after announcing a sharp earnings bounceback during the first quarter of the year. The stock was last 1% higher from the midweek close.

Shell — which moved to its cheapest since late November in recent sessions — reported that earnings on a constant cost of supplies (or CCS) basis leapt 315% during January-March, to $3.4bn thanks to a steady recovery in the oil price.

In particular, Shell chief executive Ben van Beurden noted that ‘we saw notable improvements in Upstream and Chemicals, which benefited from improved operational performance and better market conditions.’ read more

Oil is going down but Royal Dutch Shell plc is on the up

Harvey Jones | Thursday, 23rd March, 2017

Brent crude is now only a splash above $50. West Texas Intermediate has dripped to around $48. Predictions that oil would hit $60 or $70 on last year’s OPEC and non-OPEC production cuts have been shown to be desperately optimistic, and oil looks a tough play right now.

Straight to Shell

The share price of Anglo-Dutch major Royal Dutch Shell (LSE: RDSB) flew upwards in the wake of the OPEC deal, hitting a 52-week high of 2,390p in early December. After management’s campaign of cost-cutting, non-core disposals and capex slashing, analysts reckoned it could break even at around $55-60, which would help to sustain its proud record of never having cut its dividend since the war. read more

Canadian Natural Resources Limited Got a Steal of a Deal

Matt DiLallo | March 14, 2017

Canadian Natural Resources Limited (TSX:CNQ)(NYSE:CNQ) made a big splash last week when it signed agreements to acquire several oil sands assets from Royal Dutch Shell plc (ADR) (NYSE:RDS.A)(NYSE:RDS.B) and Marathon Oil Corporation (NYSE:MRO).

Overall, the Canadian oil giant paid a massive $12.74 billion to bulk up its position in western Canada, which marked the largest acquisition in the company’s history. However, what was more impressive about the deal wasn’t the size of the purchase price, but the size of the discount the company got on the assets, which was well below the replacement cost. read more

Shell cancels Prince Rupert LNG project, to move forward on Kitimat project

Mar. 13, 2017 1:36 PM ET|By: Carl Surran, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) says it is ending development of its proposed Prince Rupert liquefied natural gas project in British Columbia but is still considering the potential of its other Pacific coast LNG option.

Prince Rupert LNG was part of a portfolio of projects acquired in the takeover of BG Group last year, but Shell says the project no longer stacks up against existing options.

Shell said it continues to actively move forward on the proposed Kitimat LNG Canada project in B.C. with its partners, even though last year it indefinitely deferred a final investment decision on it because of market conditions. read more

Shell’s sale of dirty tar sands assets cleans up debt and spruces image

Adam VaughanSaturday 11 March 2017 15.59 GMT

hen Shell sold most of its Canadian tar sands operations last week, the Anglo-Dutch oil company took a modest step towards making good on its promise to be part of the solution on global warming, rather than the problem. But the $7.25bn (£6bn) sale of the majority of its tar sands assets to an independent Canadian oil company is less about the company cleaning up its image than about cleaning up its debt.

FULL ARTICLE

Shell sells out of the oilsands. Was it climate or costs?

By Tracy Johnson, CBC News Posted: Mar 09, 2017 4:17 PM ET

Royal Dutch Shell’s deal to sell most of its stake in Alberta’s oilsands was in the works for more than a year, says the company’s chief executive Ben van Beurden.

“We said we would high-grade the portfolio,” he said at the CERAWeek energy conference in Houston.

“We would get out of positions where we do not have the scale or the capability, or that did not fit us in the longer run strategically. And the oilsands is one of them.” read more

Shell CEO’s plan for a smaller carbon footprint

Patti Domm: 9 March 2017

Royal Dutch Shell‘s announcement of the sale of $7.25 billion in Canadian oil sands assets Thursday is an important step to turning itself into a company of the future — with a broader mix of energy assets and a smaller carbon footprint.

Shell CEO Ben van Beurden said the company is committed to reshaping itself and believes that renewables and new energy will play a bigger role. The company is retaining just 10 percent of its Canadian sands assets.

“We are right in the middle of transforming the company into the company of the future,” he said at the CERAWeek conference in Houston, sponsored by IHS Markit. read more

Shell cuts debt with US$7.25 billion sale of Canada oil sands

9 March 2017

TORONTO (BLOOMBERG) – Royal Dutch Shell will sell almost all its production assets in Canada’s oil sands in a US$7.25 billion (S$10.24 billion) deal that cuts debt and reduces involvement in one of the most environmentally damaging forms of fossil-fuel extraction.

The company will sell all of its oil-sands interests apart from a 10 per cent stake in the Athabasca Oil Sands mining project, The Hague-based Shell said on Thursday (March 9). It will also continue as operator of the Scotford upgrader and Quest carbon capture and storage project. read more

In A 1991 Film, Shell Oil Issued A Stark Warning About Climate Change Risks

WASHINGTON — “Action now is seen as the only safe insurance.” 

That was among the many clear warnings that oil giant Shell issued in a film it produced about climate change more than 25 years ago. Many environmentalists, however, argue that the company has largely ignored its own alarm bells.

The 1991 film, “Climate of Concern,” resurfaced Tuesday on the Dutch online news outlet The Correspondent. It’s the latest in an ever-growing body of evidence that suggests the oil industry has long known about the climate risks associated with carbon dioxide emissions — and has actively worked to cover them up. read more

Shell Shuns New Oil-Sands Projects as Low Prices Force Cost Control

by Rakteem Katakey: 27 February 2017, 14:52 GMT

Royal Dutch Shell Plc is unlikely to take on new oil-sands projects as it maintains a grip on costs after crude’s crash forced competitors to write down Canadian reserves.

While Shell’s existing oil-sands operations generate strong cash flows, the expense of developing new projects discourages additional investments, Chief Executive Officer Ben Van Beurden said in an interview.

Oil sands, the reserves of heavy crude found primarily in northern Alberta, lured investors in the past decade as oil’s surge above $100 a barrel made the difficult extraction process economic. But they’ve fallen out of favor following the subsequent market collapse as companies dump expensive projects amid fears that competition from low-cost crude could strand costlier assets. read more

Alberta power company buys half-built Shell oil sands power plant

February 17, 2017

CALGARY, Alberta (Reuters) – Kineticor, a small privately held power producer, has partnered with one of Canada’s largest pension funds to buy a half-finished oil sands power plant in northern Alberta that was part of an abandoned Royal Dutch Shell (RDSa.L) project, the company said on Friday.

Alberta-based Kineticor said it had closed the acquisition of the partially constructed 690 megawatt cogeneration plant near Peace River that was part of Shell’s 80,000 barrel per day Carmon Creek project. read more

Statoil joins Shell and other foreign companies exiting Canadian projects

Posted by Mark Young:15 Feb 2017

Norway’s oil and gas powerhouse Statoil ASA has finalised its exit from the Canadian oilsands and is by no means alone in a list of high-profile internationally-based operators to agree a sale of Canadian upstream assets during the past 12 months.

Statoil (Oslo:STL) is selling its interest in the Kai Kos Denseh project to Athabasca Oil Corp. (TSX:ATH) for an initial Cdn$578 million. Analysis of this transaction can be found here.

Other significant sales agreed upon in 2016 by non-Canadian companies include: read more

3 big questions hanging over Royal Dutch Shell plc

The Motley Fool: 3 big questions hanging over Royal Dutch Shell plc

By The Motley Fool  Feb 14, 2017

A stagnating oil price has seen investor appetite for Royal Dutch Shell(LSE: RDSB) seep away from recent multi-year highs.

The crude colossus saw its share price strike its highest since November 2014 a month ago, but fresh fundamental fears have seen Shell — like many of its London-quoted peers — retrace more recently.

Shale producers returning

Arguably the biggest driver behind Shell’s decline has been a steady build in the US rig count.

With drillers across the Atlantic becoming ever-more-comfortable with oil prices anchored around the $50 per barrel mark, the number of units in operation has been steadily increasing since the autumn. read more

Shell names Yujnovich as chair, Smith to lead global trading

MATT CHAMBERS: Resources reporter Melbourne 4 Feb 2017

Shell Australia chairman Andrew Smith has been promoted to lead the oil major’s global trading business and will be replaced in April by the oil giant’s Canadian-based head of oil sands and former Rio Tinto executive Zoe Yujnovich.

Mr Smith, who has been at the helm of Shell Australia since 2013, has been promoted to lead Shell’s Singapore-based trading and supply business as executive vice- president.

During Mr Smith’s tenure, Shell has become the biggest producer of Australian LNG thanks to the Gorgon project in which it has a non-operating stake, and the acquisition of BG Group. Mr Smith played a key role in the deal. read more

Shell says renegotiating Permian JV with Anadarko

By Ron Bousso | LONDON

Royal Dutch Shell (RDSa.L) and Anadarko Petroleum (APC.N) are renegotiating their five-year-old joint venture in the Permian shale basin in Texas, Shell Chief Financial Officer Simon Henry said on Thursday.

The 50-50 JV in the Delaware basin, which expires this year, will likely see the operatorship of the asset “consolidated in a different way”, Henry said in an earnings presentation to analysts.

Henry also said that Shell’s position in the Haynesville basin to the east of the Permian, which it acquired through its takeover of BG Group last year, “won’t necessarily stay in our portfolio.” read more

Shell eyes investments in Alberta’s shale plays as oilsands turn into ‘cash engine, not a growth engine’

Jesse Snyder | February 2, 2017 7:49 PM ET

Royal Dutch Shell Plc said Thursday it will reduce capital expenditures in 2017 for the third straight year, while also outlining plans to boost production at one of its light oil assets in southern Alberta.

During a quarterly conference call with analysts, the Netherlands-based company laid out plans to invest in its liquids-rich Fox Creek, Alta., assets as part of a broader US$2-to- $3-billion strategy targeting its highest-return shale plays. read more

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

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

Nova Scotia offshore oil and gas ‘doesn’t look good’ after Shell seals 2 wells

By Michael Tutton, The Canadian Press Posted: Jan 18, 2017 5:12 PM

Shell’s decision to seal two exploration wells off Nova Scotia has set back the province’s dream of offshore riches, but analysts say it’s early days in what may prove to be a complex geological hunt.

Wade Locke, a resource economist at Memorial University says Shell’s confirmation this week it’s abandoning the Monterey Jack well, along with news its Cheshire deepwater well did not have commercial quantities of oil, are not confidence boosters. read more

Shell Canada sealing Monterey Jack well

After testing was conducted by the drill ship Stena IceMax, the Monterey Jack well site is going to be permanently capped. (Contributed)

JAMES RISDON: 13 Jan 2017

Drilling has wrapped up at Shell Canada’s Monterey Jack exploratory well site in the Shelburne Basin.

“(Shell Canada is) now taking steps to permanently seal the well in accordance with the Canada-Nova Scotia Offshore Petroleum Board’s regulatory requirements,” Cameron Yost, a spokesman for the oil company, said in an interview Friday. read more

Shell reprimanded for federal voting infractions at Fort McMurray mine

Shell reprimanded for federal voting infractions at Fort McMurray mine

Some workers at the Shell Albian Sands site were denied their right to vote on polling day

CBC News Posted: Jan 05, 2017 8:41 AM MT

Shell has been reprimanded by Elections Canada for failing to provide some of its Fort McMurray oilsands workers adequate time off to vote in the 2015 federal election.

The oilsands operator has signed a compliance agreement with Elections Canada, after a federal investigation determined that some workers who requested time off the job to go to the polls were denied.

On polling day, Oct. 19, the company declined employee requests for time off work, meaning some employees at the Shell Albian Sands Mine were denied their right to have three consecutive hours off the job for the purpose of casting a vote. read more

Canada to ban licensing of oil and gas drilling in Arctic

A boat crosses in front of the Transocean Polar Pioneer, a semi-submersible drilling unit that Royal Dutch Shell leases from Transocean Ltd., as it arrives in Port Angeles, Wash., aboard a transport ship after traveling across the Pacific before its eventual Arctic destination in an April 17, 2015 file photo. The federal government says it will ban offshore oil and gas licensing in Arctic waters, a measure to be reviewed every five years. 

The Canadian Press: DECEMBER 20, 2016 01:23 PM

CALGARY – The federal government announced Tuesday plans to ban offshore oil and gas licensing in the Arctic, citing the need to protect the environment from future energy development, but the move was largely dismissed by industry observers as a weak gesture that won’t harm their interests. read more

Obama Bans Drilling in Parts of the Atlantic and the Arctic

By CORAL DAVENPORT

President Obama announced on Tuesday what he called a permanent ban on offshore oil and gas drilling along wide areas of the Arctic and the Atlantic Seaboard as he tried to nail down an environmental legacy that cannot quickly be reversed by Donald J. Trump.

Mr. Obama invoked an obscure provision of a 1953 law, the Outer Continental Shelf Lands Act, which he said gives him the authority to act unilaterally. While some presidents have used that law to temporarily protect smaller portions of federal waters, Mr. Obama’s declaration of a permanent drilling ban on portions of the ocean floor from Virginia to Maine and along much of Alaska’s coast is breaking new ground. The declaration’s fate will almost certainly be decided by the federal courts. read more

Obama Said to Use 1953 Law to Permanently Block New Drilling Leases in Arctic, Atlantic

The Shell-contracted rigs Kulluk (left) and Noble Discoverer (right) set sail from Seattle in July 2012 for Royal Dutch Shell’s ultimately unsuccessful drilling campaign offshore Alaska in Summer 2012. Photo credit: Vigor Industrial

December 19, 2016 by Bloomberg

By Jennifer A. Dlouhy

(Bloomberg) — President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to two people familiar with the decision. read more

Shell Brings Christmas Magic To Fort McMurray Family

Shell Brings Christmas Magic To Fort McMurray Family

Sarah Rieger: Posted: 12/12/2016 6:15 pm EST

Shell Canada helped evacuate over 8,000 people from Fort McMurray’s wildfires in May. When the company heard about one family that still wasn’t back home, they decided to bring them some holiday cheer.

Mitzi Brydges and Adam Larocque were celebrating their youngest son’s second birthday when the wildfires hit their city and they were forced to flee. The family lost their home, and has been renting one in Beaumont, Alta. until they can rebuild. read more

Shell in talks to sell gas field offshore Ireland

screen-shot-2016-12-05-at-10-49-43

screen-shot-2016-11-09-at-20-26-36Written by Erikka Askeland – 05/12/2016 7:23 am

Shell is reported to be in talks to sells its stake in an Irish gas field to an Australian infrastructure fund.

Macquarie is understood to have approached the oil and gas giant over its 45% stake in Corrib, valuing it at around £1billion.

If a deal is struck, the sale will be part of Shell’s plan to offload $30billion of assets in the wake of its mega-merger with BG Group earlier this year.

It is uncertain what would happen to the operatorship of the field which started pumping gas at the end of last year. Other stakeholders in the field include Statoil and Canada’s Vermillion Energy. read more

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