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Russia’s Pipeline Play Has Eastern Europe On Edge

By Gregory Brew – Jun 27, 2017, 4:00 PM CDT

Russia has been a major energy supplier to the European market for decades, and is looking to expand its dominance with a new pipeline that could feed natural gas directly to the continent’s biggest economy.

A deal on Nord Stream 2, a gas pipeline that will link the Ust-Luga area west of St. Petersburg directly with Germany, was signed by Russian energy giant Gazprom in late April. If completed, the pipeline would give Russia more than fifty percent of the Germany gas market and potentially increase its share of markets throughout Central and Western Europe. The pipeline is set to be completed in 2019 and is supported by joint-funding from five European energy companies, including Royal Dutch/Shell, Uniper and ENGIE.

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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.

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In Disaster’s Wake, BP Doubles Down on Deepwater Despite Surging Shale

Majors including Exxon Mobil Corp, Chevron Corp and Royal Dutch Shell have maintained Gulf operations but focused expansions on U.S. shale.

THUNDER HORSE OIL PLATFORM, Gulf of Mexico — About 300 BP workers commute 150 miles here by helicopter, from the Louisiana coast to a deep-sea drilling platform that can produce more oil in a day than a West Texas rig can pump in a year.

On the deck of Thunder Horse, they work two-week shifts, drink seawater from a desalination plant, and eat ribs and chicken ferried in by boat. On the ocean floor, robots provide remote eyes and arms as drills extract up to 265,000 barrels per day.

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China pumps cash into African floating LNG projects in strategic push

The $12.6 billion Prelude project, which is due to start operating off Australia in 2018, is typical of those conceived during the era of high energy prices.

By Oleg Vukmanovic and Colin Leopold | LONDON

China plans to pour almost $7 billion into floating liquefied natural gas (FLNG) projects in Africa, betting on a largely untested technology in the hope that energy markets will recover by the time they start production in the early 2020s.

Western banks are wary due to the depressed state of the shipping and gas markets, as well as the technical difficulties of pumping gas extracted from below the ocean floor, chilling it into liquid form on a floating platform and transferring it into tankers for export.

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Dutch Quakes Rattle Exxon, Shell — WSJ

Big gas field is causing tremors, exposing energy firms to criminal probe and rising bills

By Sarah Kent Dow Jones Newswires

GRONINGEN, The Netherlands — For decades, the giant Groningen gas field beneath the flat, green farmland in the north of this country counted among the greatest prizes for Exxon Mobil Corp. and Royal Dutch Shell PLC. Then the earthquakes started.

Shell and Exxon are pushing back through their joint venture, Nederlandse Aardolie Maatschappij BV or NAM.

NAM said it is considering formally contesting the government’s decision. It also expressed surprise at the Dutch court order to the prosecutor to open a criminal investigation this year…

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Quakes Giving Dutch Province ‘A Makeover We Don’t Want’

Quakes Giving Dutch Province ‘A Makeover We Don’t Want’

By Sarah Kent Dow Jones Newswires

GRONINGEN, The Netherlands — Irma de Joode was talking on the phone with her brother when she heard what sounded like rolls of thunder and felt her entire house jump beneath her feet. The Aug. 16, 2012, earthquake was the biggest ever to rock the flat, green plains of this northern Dutch province. The source was Europe’s biggest natural gas field. The earthquake was one of more than 300 temblors since 1991 that Royal Dutch Shell PLC, Exxon Mobil Corp. and the Dutch government acknowledge were caused by their activities at the Groningen gas field.

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Does sub-$50 oil mean Royal Dutch Shell plc’s dividend will be cut?

By  24 Jun 2017, 8:57

At the end of last year, when it looked as if OPEC was making a concerted effort to rein-in oil market oversupply, shares in Royal Dutch Shell(LSE: RDSB) charged to a 52-week high of just under 2,400p. Unfortunately, this rally didn’t last long. By the end of the first quarter, the shares had fallen by nearly 10% and have continued to slide as worries about a new oil glut have continued to grow. The falling oil price has reignited the argument about the sustainability of Shell’s dividend payout.

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Shell’s $1 Billion New Zealand Sale Said to Draw OMV, Vermilion

By Brett Foley , Perry Williams , and Scott Deveau
23 June 2017, 04:47 BST

Royal Dutch Shell Plc’s sale of its remaining New Zealand energy assets has drawn interest from companies including OMV AG and Vermilion Energy Inc., people with knowledge of the matter said.

Vermilion has been talking with potential financial partners about bidding together for Shell’s stakes in two New Zealand gas fields, one of the people said. Smaller local energy companies including Greymouth Petroleum Ltd. have also been considering teaming up with other investors for joint offers, the people said, asking not to be identified as details are private. The assets could fetch as much as $1 billion, the people said.

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Shell Company Firmly Integrated in Russian Economy, PM Medvedev Says

Russian Prime Minister Medvedev on Wednesday congratulated the Royal Dutch Shell company on the occasion of its 125th anniversary of working in Russia, and stressed that the company is deeply integrated in the Russian economy and is one of Russia’s main foreign investors.

23 June 2017

MOSCOW (Sputnik) — Earlier in the day, Russian President Vladimir Putin held a meeting with Royal Dutch Shell CEO Ben van Beurden to discuss the plans regarding the company’s future work in Russia, including the construction and financing of the Nord Stream 2 gas pipeline project.

“Today Shell is firmly integrated into our national economy and is one of our biggest foreign investors. Its companies and joint ventures are involved in various business areas: from exploration and production of mineral resources to the manufacture of fuel and lubricants and their sale at filling stations,” Medvedev wrote in a letter released by the government.

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India’s LNG-led gas market may grow over 6 times by 2030: Royal Dutch Shell

Shine Jacob  |  New Delhi  June 22, 2017 Last Updated at 15:47 IST

Global oil major says that India may see at least six times growth in by 2030 from the current levels. It adds that liquefied natural gas (LNG) may be the largest contributor to it. The prediction comes at a time when India is trying to increase the share of gas in the overall energy mix to over 15 per cent by 2030.

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Oil firms could waste trillions if climate targets reached: report

By Ron Bousso | LONDON

Oil giants including Exxon Mobil and Royal Dutch Shell risk spending more than a third of their budgets by 2025 on oil and gas projects that will not be feasible if international climate targets are to be met, a thinktank says.

More than $2 trillion of planned investments in oil and gas projects by 2025 risk becoming redundant if governments stick to targets to lower carbon emissions to limit global warming to 2 degrees celsius, according to a report by the Carbon Tracker thinktank and a group of institutional investors.

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Shell Nigeria considering investment in gas project in Niger Delta

Tue Jun 20, 2017 | 7:30am EDT: Shell is considering whether to invest in a gas project in Nigeria’s southern Niger Delta energy hub, the managing director of the local unit said on Tuesday. Osagie Okunbor, managing director of Shell Petroleum Development Company of Nigeria (SPDC), said the project under consideration would have a capacity of 300 million cubic feet and would be located in the city of Asa.

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Qatargas to deliver up to 1.1 mln tonnes of LNG per year to Shell


Ben van Beurden, Shell’s chief executive officer, said. “We look forward to working with Qatar Petroleum to increase the availability of LNG as a fuel for transport.”

Sat Jun 17, 2017 7:09am GM

DUBAI, June 17 (Reuters) – Qatargas said on Saturday it had signed a sales and purchase agreement with Shell for the delivery of up to 1.1 million tonnes of liquefied natural gas (LNG) per year for five years.

The agreement will start in January 2019 and will be for the supply of LNG from Qatar Liquefied Gas Company Limited (4) (Qatargas 4), a joint venture between Qatar Petroleum which holds 70 percent and Shell with the remaining 30 percent.

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European Commission approves Shell’s $3.8 billion North Sea sale

Friday 16 July 2017

The European Commission approved on Friday Royal Dutch Shell’s (RDSa.L) $3.8 billion sale of North Sea oil and gas assets to private equity-backed Chrysaor.

“The Commission concluded that the proposed acquisition would not raise competition concerns, because of its limited impact on the market structure,” the Commission said in a statement.

Shell welcomed the “important milestone” toward the completion of the deal which is expected in the second half of this year.

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Shell to cash in $10bn from divestments in second half

Written by

Biraj Borkhataria of RBC Capital Markets said the influx should go towards reducing the oil major’s debts and act as a clear catalyst for outperformance.

The Anglo-Dutch energy giant’s net debt currently stands about $72billion and Shell wants to shave off about $20billion to reduce gearing − the level of a company’s debt related to its equity capital − to around 20%.

Shell is in the midst of a push to sell $30billion worth of assets between 2016 and 2018 to rebalance its books following its takeover of BG Group.

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Shell found to be in civil contempt of court orders in relation to Rossport lands

Wednesday, June 14, 2017 – 05:46 pm

The Supreme Court has found Shell E & P Ireland was acting in civil contempt of court orders when it entered nine years ago onto commonage lands at Rossport located on the modified route for the Corrib gas onshore pipeline, writes Ann O’Loughlin.

A three judge Supreme Court yesterday (wed) overturned as “incorrect” a 2010 High Court finding that a November 2007 order of District Judge Mary Devins prohibiting Shell’s entry onto the commonage, except in accordance with the Gas Act 1976, did not prevent Shell entering onto the commonage after acquiring a 1/62nd share of the land.

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UK Government pays Shell £112m tax rebate despite oil giant making billions in profits

The UK Government handed Shell a £112m tax rebate last year, despite the oil giant making billions of pounds in profits.

Most of the payment from HM Revenue and Customs is a contribution towards Shell’s costs for decommissioning its North Sea oil and gas fields. It follows a similar payment of £85m in 2016.

The figures highlight how the North Sea has transformed from being a cash cow for the Government over four decades, to being a drain on the nation’s finances, as the remaining oil has become unprofitable to extract.

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Supreme Court rules Shell acted in contempt over Corrib land access

 14 June 2017: 19.15pm

The Supreme Court has found Shell E & P Ireland was acting in civil contempt of court orders when, nine years ago, it entered on to commonage lands at Rossport located on the modified route for the Corrib gas onshore pipeline.

A three-judge Supreme Court on Wednesday overturned as “incorrect” a 2010 High Court finding that a November 2007 order of District Judge Mary Devins prohibiting Shell’s entry onto the commonage, except in accordance with the Gas Act 1976, did not prevent Shell entering on to the commonage after acquiring a 1/62nd share of the land.

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Company fined €300,000 over death of worker at Corrib gas tunnel

14 June 2017

A GERMAN CIVIL engineering company has been fined €300,000 over the death of a contractor in 2013.

Wayss and Freitag Ingenieurbau AG contractor Lars Wagner, who worked for Herrenknecht AG, was killed on 8 September 2013 at the Mayo project.

He received fatal head injuries when a pipe he was working under collapsed on top of him as a result of an overpressure event in the pipe system.

The accident occurred in the gear chamber of a tunnel boring machine that was constructing the tunnel. Wagner was engaged in maintenance activity at the time of the accident.

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Gazprom and Shell CEO’s sign JV agreements

By New Europe Online/KG

Royal Dutch Shell and Russian gas monopoly Gazprom have signed two agreements on the Baltic liquefied natural gas (LNG) project.

Gazprom CEO Alexey Miller and Shell CEO Ben van Beurden signed the agreements at the St. Petersburg International Economic Forum 2017 on June 3.

The first agreement to sign a joint venture, which will secure financing for and carry out the design, construction and operation of the LNG plant in the Leningrad Region. Based on that concept, Gazprom and Shell will take further steps in the implementation of the Baltic LNG project.

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Shell diverts U.S. LNG cargo to Dubai after Qatari diplomatic row

Thu Jun 8, 2017

Royal Dutch Shell (RDSa.L) has sent a replacement cargo of liquefied natural gas (LNG) from the United States to Dubai, shipping data shows, after a diplomatic row disrupted typical trade routes from Qatar, the world’s biggest producer.

Shell has a deal to supply the Dubai Supply Authority (DUSUP) with LNG which it typically sources from Qatar because of its proximity.

But bans on Qatari vessels entering ports in the United Arab Emirates, imposed after top Arab powers severed diplomatic and transport links with Qatar on Monday, meant it had to source the LNG from elsewhere.

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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.

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Gazprom Neft and Shell

1 june 2017

Gazprom Neft and Shell have used the occasion of this year’s St Petersburg International Economic Forum to sign a Memorandum of Understanding. Vadim Yakovlev, First Deputy CEO, Gazprom Neft, and Olivier Lazar, Country Chair, Shell Russia, have both put their signatures to a document confirming both companies’ intention of promoting further cooperation.

Both sides have confirmed their intention of continuing negotiations on the Khanty-Mansiysky Oil and Gas Union’s provisional assessment of a range of non-shale oil deposits in Eastern Siberia, including the Achimovsky deposits in the Yamalo-Nenets Autonomous Okrug. In addition to this, Gazprom Neft and Shell have committed to undertake geological prospecting of license blocks in the Khanty-Mansiysk Autonomous Okrug, adjoining licence blocks owned by Salym Petroleum Development N.V.,* through that enterprise.

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Big payout for Shell and ExxonMobil from NAM holding

Big payout for Shell and ExxonMobil from NAM holding

NAM has €3.4bn earmarked for provisions on its balance sheet. A small portion of this, 15% or €495m, is reserved for claims made against the company for earthquake damage.

June 2, 2017

Shell and ExxonMobil, the two shareholders in Dutch gas production company NAM, split €496m in dividend payments in 2016. This was revealed in NAM’s first-ever published annual report on Friday, the Financieele Dagblad said. This marked the first time that it was made clear just how much the two oil giants earn from gas production in the Netherlands. NAM reported net revenues of €3.4bn in 2016.

But NAM released no comparable profit and sales figures for previous years. NAM’s profit is determined after a payment of about €3bn to the Dutch government.

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Shell announces cull

Written by

A north-east MSP called for “urgent government action” after oil giant Shell said yesterday it was axeing 90 onshore roles in Aberdeen.

Labour’s Lewis Macdonald said it highlighted a need for support to protect jobs and skills in the UK oil and gas industry amid “the ongoing impact of the downturn” caused by a sharp slump in oil prices.

“The failure of other parties to act makes the result of next week’s general election even more important,” he added.

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Shell: Executing On Its Plan But No Upside In The Stock Price

By : May 31, 2017

Royal Dutch Shell (RDS.A, RDS.B) suffered a dramatic drop in earnings and cash flow in 2015 and 2016, as crude oil prices fell from about $100 per barrel to about $50 barrel in the second half of 2014.

From $14.7 billion earnings in 2014, Shell’s earnings fell to $2.2 billion for 2015 and $4.8 billion in 2016. In response, Shell embarked on a strategic transformation of their entire company, of which the key cornerstones were:

  • Completion of the acquisition of BG;
  • Divestment of in assets;
  • Bringing new production online for ongoing projects;
  • Realizing operating cost reductions; and
  • Reducing debt.

My analysis of their financials show that while they are on track to achieve their plan, investors should not expect dividend increases through 2020. In this article, I will review the impact of the divestments on the balance sheet and the required run-rate free cash flow that Shell will need to deliver on its financial strategy. I conclude that the dividends are safe, but share price appreciation will be limited.

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Shell keeps exploration and production focus in Australia

John Culbertson: May 31, 2017

May 31 (UPI) — Royal Dutch Shell said Wednesday it was keeping its exploration and production portfolio in place in Australia, but stepping back from its aviation business.

Shell’s aviation subsidiary in Australia sold to independent Viva Energy Australia for $250 million in line with the Dutch supermajor’s efforts to streamline its portfolio. Shell keeps its brand name visible in the aviation refueling sector as Viva Energy remains the licensee of its fuels.

“Shell’s upstream operations in Australia, which include exploration, production and gas commercialization, are not impacted by this announcement,” the company stated.

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Shell buys Chevron’s Trinidad and Tobago subsidiary for $250M

|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) agrees to acquire Chevron’s (CVX -0.4%) subsidiary in Trinidad and Tobago for $250M.

The deal includes CVX’s Trinidad and Tobago’s interest in the 10T cf Loran Manatee cross-border gas field shared with neighboring Venezuela; CVX retains its interest in the block on the Venezuela side of the border.

Shell has been expanding its holdings in Trinidad and Tobago since its purchase of BG Group and is seeking to rival BP as the biggest player in the area.

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Market Realist Royal Dutch Shell articles 30 May 2017

Visit this webpage to view eleven Shell related articles, all by Michelle Rey, published by Market Realist on 30 May 2017.

Shell’s Brazilian Deep-Water Portfolio

Analyst Ratings for Shell: Why Most Rate It a ‘Buy’

How Shell’s Dividend Outflows Have Trended

Has Shell’s Leverage Trend Reversed?

Are Shell’s Cash Flows Getting Revitalized?

In Which Segment Has Shell’s Capex Plunged?

Shell’s Segmental Earnings in 1Q17: Upstream Swings to Profit

Shell’s Upstream Portfolio: Is it Poised to Grow?

How Shell’s Downstream Portfolio Is Evolving

How Widespread Are Shell’s Refined Product Markets?

The Surge of Shell’s Chemical Margin Markers in 1Q17

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Shell Todd seek consent to resume offshore drilling in Taranaki

Shell Todd seek consent to resume offshore drilling in Taranaki

By Mike Watson, May 30, 2017

Marine consents have been lodged by Shell Todd to use a mobile jack-up rig to resume drilling in the existing Maui natural gas field off the Taranaki coast.

The company lodged two consents with the Environmental Protection Agency to put in place and later remove a jack-up rig as part of its potential drilling programme in 2018-2019, a company spokeswoman said.

The rig will be positioned near the existing Maui A and B platforms between 35-50 kilometres offshore from the coastline.

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Gazprom, Shell review LNG opportunities

By Daniel J. Graeber: May 30, 2017

May 30 (UPI) — Russian energy company Gazprom said it signed agreements with Royal Dutch Shell that could expand on bilateral deals related to liquefied natural gas.

Gazprom Chairman Alexei Miller hosted delegates from Shell at his Moscow office to discuss future collaboration on projects covered under strategic cooperation agreements from 2015.

Gazprom holds a 50 percent stake in the Sakhalin liquefied natural gas project on Russia’s far eastern coast, while Shell controls a 27.5 percent stake. Japanese companies hold the remaining interest.

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Gazprom and Shell discuss joint prospects under Agreement of Strategic Cooperation

Royal Dutch Shell is a British-Dutch oil and gas company focused on hydrocarbon production, processing and marketing in over 90 countries worldwide.

Gazprom and Shell are jointly engaged in the Sakhalin II project, which includes Russia’s only active LNG plant. The Sakhalin II operator is Sakhalin Energy Investment Company Ltd. (Gazprom – 50 per cent plus one share, Shell – 27.5 per cent minus one share, Mitsui – 12.5 per cent, and Mitsubishi – 10 per cent). In 2015, Gazprom and Shell signed the Memorandum to construct the third production train of the LNG plant, as well as the Agreement of Strategic Cooperation providing for the expansion of the companies’ joint project portfolio, including a potential asset swap.

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Shell Starts Production At New FPSO In Pre-Salt Brazilian Field

By Zainab Calcuttawala – May 26, 2017, 10:00 PM CDT

Royal Dutch Shell’s Brazilian subsidiary BG E&P Brasil and partners began production in a deepwater field in the Santos Basin on Friday, according to a new report by World Oil.

The floating production storage and offloading vessel (FPSO) P-66 sits at a depth of 2,150 meters and can extract 150,000 barrels of oil and six million cubic meters of natural gas per day. The vessel is the first in a series commissioned by Petrobras to exploit the BM-S-11 block within a consortium.

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Saudi Aramco to spend $18 billion on growth in the Americas: Motiva

FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo

Saudi Aramco plans to spend $18 billion in the next five years to expand its operations in the Americas, focusing on its U.S. oil refining subsidiary Motiva Enterprises, Motiva said on Thursday.

Motiva [MOTIV.UL] called the $18 billion estimate “a general framework of opportunities” to increase refining capacity, branch into chemicals, and expand its commercial operations, marketing and branded presence in the next five years.

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Shell, Exxon may appeal over planned Groningen gas output cut

Shell, Exxon may appeal over planned Groningen gas output cut

AMSTERDAM, May 24 (Reuters) – A joint venture between Royal Dutch Shell and Exxon Mobil said on Wednesday it was considering appealing against a Dutch government plan to cut production at the Groningen gas field by 10 percent.

The Dutch state earlier on Wednesday confirmed it intended to go ahead with a tightening of output at the massive field from Oct. 1. It said interested parties had until July 7 to announce an appeal.

The 50-50 Shell-Exxon joint venture known as NAM, said in a reaction that the measure was “disproportionate” and ignored previously agreed safety norms, which do not call for such a large reduction.

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Shareholders criticise Shell over climate change commitments

Written by

Royal Dutch Shell has been rapped over its climate change commitments, with shareholders criticising its rejection of emissions targets that would bring it in line with the Paris climate accord.

Shareholders at the oil giant’s annual general meeting (AGM) at The Hague spent hours questioning Shell’s board members, who said that while the company supported the Paris agreement, setting company targets was “not in the best interest of the company”.

Shell chief executive Ben van Beurden said his company was making progress in lowering its emissions, but that achieving Paris Climate Agreement goals – which aim to limit global warming to below 2 degrees Celsius from pre-industrial levels – would require broader coordination, including active government support.

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GAS LEAK DRAMA ON SHELL RIG

20th May 2017,

A GAS LEAK sparked a major evacuation and shut down of a North Sea oil rig.

The gas detection alarm was sounded on Friday morning on Shell’s Brent Charlie platform, 115 miles north-east of Shetland.

The oil giants said all 176 people on board have been accounted for and a total of 31 non-essential workers were being evacuated from the platform as a precaution.

A Shell spokeswoman said: “Following a gas detection alarm, production was shut down and the platform called to muster. The source of the leak has been safely detected and isolated and a full investigation into the cause will be completed.

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Shell launches investigation after North Sea gas leak

Written by

The alarm was raised on Friday on the operator’s Brent Charlie.

The oil super major was forced to shutdown production after a gas detection alarm was triggered.

A total of 31 personnel were flown off the platform. The crew were largely associated with production, which remains suspended today.

Investigations into the cause of the isolated incident will be carried out for the remainder of the day.

The Brent field, operated by Shell, lies off the north-east coast of Scotland, midway between the Shetland Islands and Norway. It was discovered in 1991. The field’s lifespan was originally estimated to be only 25 years. To date, the Brent field has produced around three billion barrels of oil equivalent.

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A Look at the Gas Stations of Tomorrow

A concept Shell station has a restaurant and collection spot for online shoppers (left), deli (right), solar panels to help power the station, blue-topped chargers and fueling points for electric and hydrogen vehicles—and, yes, gas pumps at back right. PHOTO: SHELL

FULL ARTICLE

Performance of Corrib gas field ‘exceeding expectations’

Gordon Deegan: 

The performance of the Corrib gas field is exceeding expectations, with its promoters recording sales of (Canadian) $241.34m (€160m) in the first quarter of this year.

That is according to a new report by one of the Corrib partners, Canadian-based Vermilion, which recorded that between January and March this year the project exceeded expectations for “well deliverability and downtime”.

As a result of the strong performance, Vermilion has adjusted its field and well performance estimates “and now expects to maintain peak production through Q1 2018 and potentially into Q2 2018”.

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Three held in custody after anti-Shell protest at Van Gogh Museum

May 15 2017

Three activists are being held in custody three days after taking part in a protest at Amsterdam’s Van Gogh Museum to highlight its relationship with Dutch oil giant Shell.

Seven women were arrested for staging an unscheduled ‘performance’ in the foyer on Friday. The activists, barefoot and dressed in white, drank a black liquid from scallop shells. Police were called when they ignored requests to leave the building.

A member of the support team was arrested later in the day. Five of the demonstrators have since been released but remain suspects in the investigation. Police said the three others were being kept in custody because they refused to identify themselves.

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Top Shell lawyer says lower extraction costs helping oil industry cope with downturn

By in Houston, Texas, USA: 10 MAY 2017

A decline in extraction costs is helping the oil and gas industry weather turbulence, or what is often dubbed in the market as an ongoing ‘era of lower for longer oil prices,’ according to oil and gas giant Royal Dutch Shell’s top lawyer.

Speaking at global law firm Baker & McKenzie’s Annual Oil & Gas Institute, in Houston, US, on Wednesday (10 May), David Brinley, general counsel at Shell, said: “The oil and gas industry is probably at its most turbulent point in its history. Furthermore, the confluence of political, economic and social change is nothing like I have seen in my 27 years at Shell. However, it is fair to say the industry’s commitment to efficiencies is just getting interesting now.”

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Shell-BG Merger Benefits Becoming More Clear

: May 8, 2017

When I decided to position for a coming oil price recovery towards the end of 2015, I decided on buying Shell (NYSE:RDS.A), alongside Suncor (NYSE:SU) and Chevron (NYSE:CVX). My investment strategy always has a longer term horizon, therefore Shell was an obvious choice, given the very generous dividend. When deciding to hold a stock for a number of years, it really makes a difference, as long as the dividend is sustainable, of course.

There were other factors which I saw as positive long term prospects that makes Shell stock worth holding on to for a while. Shell’s leadership in the LNG sector, in large part thanks to the BG deal is one of the things that attracted me to the stock. As I stated many times before, I believe that natural gas will eventually become the number one energy source on the planet and as such it will have to become more flexible in terms of delivery. LNG shipments will most likely become a globally strategic industry, which is likely to grow a lot in coming years and decades.

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Royal Dutch Shell Takes a Big Step Forward in Its Post-BG Merger Plan This Quarter

 

Tyler Crowe: (TMFDirtyBird) May 5, 2017 at 10:33AM

The investment thesis for Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B)radically changed back in 2015, when the company acquired BG Group. The idea of combining these two companies held a lot of promise, but investors would only benefit if management could successfully integrate the company, divest itself of some lower-return businesses, and lower the debt load it took on to get the deal done.

It wasn’t an easy task, but Shell’s most recent couple of earnings reports suggest that management has pulled it off. Here’s a look at its latest earnings release and what management has done recently to get the company one step closer to realizing the potential of that investment thesis laid out a couple of years ago.

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New Shell finance boss says North Sea remains important to oil and gas giant

MARK WILLIAMSON: 5 MAY 2017

ROYAL Dutch Shell’s new finance chief has said the company will continue to invest in the North Sea where it is making good returns but declined to rule out selling off more UK assets.

Speaking after Shell posted a 140 per cent increase in first quarter profits, Jessica Uhl said the North Sea remains important to the firm although rationalisation moves will leave it with a much reduced presence in the area.

The oil and gas giant agreed in January to sell a portfolio of mature assets which account for around half its UK production to Chrysaor for up to $3.8 billion.

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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.’

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Shell’s Big Oil Squeeze

May 4, 2017

Royal Dutch Shell Plc is defying skeptics and showing that it can afford its dividend. Investors just need to believe it hasn’t made too many compromises to do so.

The Anglo-Dutch oil giant generated $9.5 billion of operating cash flow in the first quarter, ample to fund $4.3 billion of investment, $2.7 billion of cash dividend payments and an $850 million interest bill. It even managed to cut debt without the benefit of big asset sales.

This is the third consecutive quarter where Shell has shown it can live within its means. The accounting result was impressive too: $3.5 billion of net income, up from $1.5 billion in the fourth quarter. That’s well ahead of expectations, and without the distortion of lots of one-offs.

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Shell Pumps a Torrent of Cash as Takeover, Cost Cuts Pay Off

by Rakteem Katakey
4 May 2017, 07:14 BST
4 May 2017, 08:01 BST

Royal Dutch Shell Plc showed it has adapted to a world of lower oil prices, generating a surge in cash flow that allowed it to pay dividends while reducing debt.

The Anglo-Dutch company’s performance helps validate Chief Executive Officer Ben Van Beurden’s $54 billion purchase of BG Group Plc — for which some shareholders complained he overpaid — and the deep spending cuts and asset sales he undertook to protect the balance sheet.

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Shell’s first-quarter profit more than doubles

By Ron Bousso | LONDON

Royal Dutch Shell reported a sharp rise in net profit on Thursday, beating analyst forecasts and joining its peers as stronger oil prices and improved refining margins boosted revenue after nearly three years of downturn.

A billion dollars in cost savings and budget cuts made over the past three years, as well as around $20 billion of asset sales following the $54 billion acquisition of BG Group last February, also helped increase cash flow and boost profits.

After completing the integration of BG Group in the third quarter of last year, the company and investors are turning their focus to increasing revenue and reducing debt as oil prices appear to recover.

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How Earthquakes Might Be Crimes in Netherlands

Can a natural disaster be a crime? That’s the question in The Netherlands, where an investigation has been ordered into whether Royal Dutch Shell Plc and Exxon Mobil Corp. are criminally responsible for earthquakes triggered by production at Europe’s largest natural gas field, Groningen. Some of the earthquakes have been strong enough to damage homes in nearby farming communities. Though Groningen is a mainstay of the Dutch budget, its output is gradually decreasing to protect residents.

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