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LNG Terminal Poised to Boost Struggling Canadian Gas Producers

By Kristine Owram: 19 July 2018, 10:00 BST

A C$40 billion Canadian LNG project led by Royal Dutch Shell Plc appears to be ramping up, although a final decision hasn’t been announced. Scotiabank’s Jennifer Stevenson expects the project to go ahead, prompting investors to reevaluate struggling Canadian gas producers. FULL ARTICLE

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Shell’s top LNG trader to head up JERA/EDFT trading operations

REUTERS STAFF: THURSDAY JULY 19, 2018

LONDON, July 19 (Reuters) – Japan’s JERA Trading (JERAT) has hired Sarah Behbehani, the former head of short-term liquefied natural gas (LNG) trading at Royal Dutch Shell, as the world’s biggest buyer of the fuel bulks up in Asian trading.

Behbehani’s move comes a month after JERA absorbed the LNG trading business of EDF to create JERAT as it looks to break down restrictions on trading cargoes bought under long-term deals.

Industry sources said the trading manager, responsible for a team of eight, resigned from Shell this week and will start her new role in three months. read more

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Not dead yet: Home of Brent crude gets new lease of life

Ron Bousso, Shadia Nasralla: JULY 18, 2018

LONDON (Reuters) – Oil giant BP’s Eastern Trough Area Project off the coast of Scotland wasn’t supposed to be viable beyond 2018.

But government and industry working together have given ETAP a new lease of life that is being closely watched by countries and companies eyeing other ageing projects around the world.

When ETAP was launched 20 years ago today, some experts predicted the UK sector of the North Sea would cease most production by 2030. read more

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Russia’s grasp on EU gas tightens despite Trump slating Germany

Mr Trump last year signed a law giving him the right to impose sanctions on companies involved in the Nord Stream 2 pipeline project. Royal Dutch Shell, BASF’s Wintershall unit, Uniper, OMV and Engie have agreed to provide Russia’s Gazprom with financing for the €9.5bn pipeline and could be at risk of penalties.

Elena Mazneva, Margaret Talev and Naureen S Malik: 18 July 2018

US President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism of Germany he’d levied in Europe last week.

“We are going to be selling LNG and will have to be competing with the pipeline and I think we’ll compete successfully, although there is a little advantage locationally” because Russia is closer to buyers in Europe, Mr Trump told reporters at a news conference with Mr Putin after their meeting in Helsinki on Monday. read more

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Shell fined £40,000 for breaching pollution rules at Fife plant

Energy giant Shell has been fined £40,000 for breaching climate pollution rules at the Mossmorran Chemical plant in Fife.

Written by

The Scottish Environment Protection Agency  (SEPA) imposed the fine after Shell broke regulation on reporting emissions at the site between 2013 and 2015.

Shell operates a plant at the site in Fife to process thousands of tonnes of North Sea gas per day.

The company had under reported propane unit volumes by approximately 0.5% of total plant volumes over the three-year period.

EU rules mean the firm is obliged to report its climate pollution.

A note on the Sepa website states: “Failure to comply with condition 4 of a Greenhouse Gas Emissions Permit. read more

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LNG project in B.C. to hire mainly Canadian workers for $40-billion terminal construction

 VANCOUVER SUNDAY 15 JULY 2018

LNG Canada will hire primarily Canadian workers to build a planned terminal to export liquefied natural gas from Kitimat, B.C., newly released briefing notes for B.C.’s NDP minority government show.

The employment strategy is in sharp contrast to the abandoned plans by now-defunct rival Pacific NorthWest LNG, which would have use far more foreign workers for a site near Prince Rupert, according to the notes ministry officials prepared for Premier John Horgan and Energy Minister Michelle Mungall. read more

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U.S. issues sanctions warnings for firms invested in Nord Stream pipeline

|By: , SA News Editor

  • The U.S. warns Western companies invested in Russia’s Nord Stream 2 natural gas pipeline to Germany that they are at risk of sanctions.
  • The $11B project, led by Gazprom (OTCPK:OGZPY), would double capacity of the existing Nord Stream 1 pipeline under the Baltic Sea to Germany, bypassing traditional routes through Ukraine.
  • Pres. Trump sharply criticized Germany yesterday for being a “captive” of Russia because of its support for the pipeline.
  • A German business group says it is not up to the U.S. to dictate how German companies do business, that the country’s energy partnership with Russia had spanned decades with mutual benefits, and that gas imports from Russia are a competitively priced and reliable energy source.
  • Germany’s Uniper (OTC:UNPRF) and BASF’s (OTCQX:BASFY) Wintershall are among western partners involved in the project, as well as Royal Dutch Shell (RDS.A, RDS.B), Engie (OTCPK:ENGIY) and OMV (OTCPK:OMVJF).
  • Now read: Gazprom: From Russia With Love
  • read more

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    Chevron, Shell get first waivers to U.S. steel tariffs

    By: , SA News Editor: 12 July 2018

  • The Trump administration has granted the oil and gas sector its first exclusions from a 25% tariff on steel imports, after agreeing with Chevron (NYSE:CVX) and Royal Dutch Shell (RDS.A, RDS.B) that the specialty steel the companies were importing is not manufactured in the U.S.
  • The U.S. Commerce Department approved exclusions for 243 metric tons of steel casing and production tubing Shell said it would use when drilling wells in the Gulf of Mexico, and to CVX for 50 metric tons of corrosion resistant stainless steel tubing.
  • The exclusions mark a victory for the oil and gas industry, which is concerned that the tariffs could raise their costs; the Commerce Department has processed only 241 out of more than 20K steel tariff exclusion requests.
  • read more

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    Nigeria says Shell signs $3.7B gas project agreement

    |By: , SA News Editor

  • Royal Dutch Shell (RDS.A, RDS.B) reportedly has signed an agreement with Nigeria’s state-run oil company and two other groups to develop natural gas projects worth $3.7B, as part of the country’s efforts to deal with a looming domestic fuel shortage.
  • The seven projects would add 3.4B cf/day of natural gas to the Nigerian market to avoid a shortage that has been forecast for 2020, with gas produced under the projects used to produce a target amount of 15 GW of electricity by that year.
  • Nigeria is Africa’s top oil producer but has suffered a decline in oil and gas investments – despite the rebound in crude oil prices – due to a lack of government incentives and a delay in the approval of energy industry reform.
  • read more

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    The Pipeline Trump Says Risks Making Germany ‘a Captive of Russia’

    By Elena Mazneva and Laurence Arnold: 11 July 2018

    A planned natural-gas pipeline, Nord Stream 2, is the latest point of friction between U.S. President Donald Trump and German Chancellor Angela Merkel. At a summit meeting of North Atlantic Treaty Organization members, Trump said the pipeline risks making Germany “a captive of Russia.” He’s not the first American leader to criticize the pipeline project, and the U.S. isn’t alone in its disapproval.

    1. What is Nord Stream 2?

    It’s a planned new 1,230 kilometer (764-mile) undersea pipeline that will carry natural gas from fields in Russia to the EU network at Germany’s Baltic coast. It will double the capacity of an existing undersea route and cut Russia’s reliance on gas transit through Ukraine. (Russia has been locked in conflict with Ukraine since 2014, when a pro-Russian president there was forced from power and Russia seized the country’s Crimean Peninsula.) Russia’s Gazprom PJSC is overseeing the project with funding from five investors including Royal Dutch Shell Plc and Engie SA, which are providing half of the 9.5 billion-euro ($10.3 billion) in cost. read more

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    Hundreds of Norway oil workers go on strike, Shell shuts Knarr field

    Hundreds of Norway oil workers go on strike, Shell shuts Knarr field

    Gwladys Fouche, Lefteris Karagiannopoulos: JULY 10, 2018 OSLO (Reuters) – Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher.

    One union said hundreds more workers would join the strike on Sunday if an agreement over union demands for a wage increase and pension rights was not reached.

    Royal Dutch Shell (RDSa.L) said that due to the strike it was temporarily closing production at its Knarr field, which has a daily output of 23,900 barrels of mostly oil, but also natural gas liquids and natural gas.

    Shutting the field, whose owners are Idemitsu (5019.T), Wintershall [WINT.UL] and DEA, could take up to 36 hours, it said. read more

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    Shell shuts down Norway’s Knarr oil and gas field due to strike

    REUTERS STAFF: 10 JULY 2018

    OSLO (Reuters) – Royal Dutch Shell (RDSa.L) is shutting down production at its Knarr field in the North Sea after workers walked out on strike on Tuesday, the company said.

    “As a result of the strike, Knarr is closing its production in the Norwegian North Sea,” said Shell spokeswoman Kitty Eide. “We started shutdown operations this morning and to complete them can take up to 36 hours. As soon as the strike is over, we will restart production. No other fields or platforms that we are operator of are affected by the strike.”

    Production at Knarr is 3,800 standard cubic metres of oil equivalents. It produces mostly oil, with some natural gas liquids and gas production.

    The partners in the Knarr field are Japan’s Idemitsu (5019.T), Wintershall [WINT.UL] and DEA, according to data from the Norwegian Petroleum Directorate. read more

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    Shell ramps up in Kitimat, raising Canada’s $30B LNG hopes

    NATALIE OBIKO PEARSON, BLOOMBERG: July 9, 2018

    A flurry of activity is raising optimism that Royal Dutch Shell Plc and its partners are ready to go ahead with the nation’s largest infrastructure project: a $40 billion liquefied natural gas terminal that could at last unlock energy exports to Asia.

    The action is unmistakable in Kitimat, the Pacific coast city hugging a deep inlet that would be the closest launch point on the continent for LNG cargoes to Asia. The lights are on, shades open and SUVs parked outside a 49-unit apartment complex built to house Shell executives, which sat mostly darkened for the last two years. Local workers have left jobs at a Rio Tinto Plc smelter nearby to join contractors ramping up for the LNG project. Landlords are raising rents and houses are selling twice as fast as they used to in anticipation of a flood of workers coming to town. read more

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    Big Oil’s Next Major Move

    By Tim Daiss – Jul 08, 2018, 10:00 AM CDT

    Several oil majors, including Royal Dutch Shell and BP, are boosting their share of natural gas output. A Bloomberg report said these two oil companies, by increasing gas production, are trimming the lead between them and ExxonMobil, the world’s largest publicly traded oil company. ExxonMobil has a current market cap of $348 bn, while Shell has market cap of $317 bn, and BP at $156 bn.

    BP expects by 2020 to produce about 60 percent gas and 40 percent oil, a reversal from 2014 when it was the opposite – a pivot that many other oil companies will likely follow. ExxonMobil for its part currently produces about 55 percent oil and 45 percent gas and remains the largest natural gas producer in the US. Shell’s acquisition of UK-based BG Group for $50 bn in 2016 boosted the share of natural gas to 50 percent of its global fossil fuels output and made it the world’s largest natural gas trader. read more

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    The Netherlands Can’t Afford To Keep Its Natural Gas Promise

    By Vanand Meliksetian – Jul 03, 2018, 3:00 PM CDT

    The Netherlands has been the source of cheap energy for northwest Europe for the past decades. The discovery of the Groningen gas field, the 9th largest in the world, provided a reliable source of energy in a period when the oil market was rocked by embargos due to the Yom Kippur War in 1973. The future of the Dutch gas sector, however, looks bleak due to two important developments in 2018: a political decision to reduce production with a timeline to stop entirely until 2030 and a new climate agreement. The Netherlands is preparing to make major changes regarding the role of gas in people’s lives. read more

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    Groningen needs reinforcement: watchdog

    Groningen needs reinforcement: watchdog

    The repair and reinforcement of Dutch homes damaged by gas-extraction earthquakes in Groningen needed to be speeded up, the state supervisor on mines SoDM told economic minister Eric Wiebes.

    RTL Nieuws reported that SoDM found approximately 1,900 homes in the region that, if not reinforced quickly, would no longer meet official safety standards. The distinctly Dutch rules state the risk of someone dying in an earthquake must not be higher than the risk of someone drowning in a flood elsewhere in the Netherlands. read more

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    Royal Dutch Shell: Streamlining Assets

    Jun. 30, 2018 12:54 AM ET

    Summary

    • Renewal of assets with great focus on the future.
    • Natural gas as energy source will continue to grow.
    • Share buybacks and generous dividends.

    Background

    Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has been actively focusing on what kind of business it wants to be involved in. Part of this activity is to change the composition of its assets. It has been selling plants and oil licenses, and invested where it wants to position the company.

    Disposals have also been done to reduce the total debt level. Much of the debt came from the $35 billion acquisition of BG Group back in March of 2016.

    Disposals

    Early this year, Shell communicated that its plans were to leave oil and gas operations in as many as 10 countries and instead focus more heavily on gas-rich Australia and shale opportunities in the United States. read more

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    U.S. sanctions will not affect Nord Stream 2, German ministry says

    |By: , SA News Editor

  • Germany has been assured by the U.S. that any sanctions imposed on Russia will not affect construction of the Nord Stream 2 gas pipeline to bring Russian gas to Europe, says a spokesperson for Germany’s economy ministry.
  • The U.S. embassy in Berlin says there has been no change in policy, Reuters reports.
  • The Nord Stream 2 consortium, consisting of Russia’s Gazprom (OTCPK:OGZPY) and five European companies – Royal Dutch Shell (RDS.A, RDS.B), BASF’s (OTCQX:BASFY) Wintershall, Engie (OTCPK:ENGIY), OMV (OTCPK:OMVJF) and Uniper (OTC:UNPPY) – last month started preparatory work in the Greifswald bay off Germany’s Baltic coast on a new twin pipeline that will double Russia’s export capacity of 55B cm to Germany.
  • Separately, Gazprom CEO Alexei Miller says the company can set a new gas export record of nearly 200B cm this year, up nearly 3% Y/Y, breaking last year’s record volume of 194.4B cm of gas to Europe and Turkey.
  • read more

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    Shell gives go-ahead to third North Sea oil, gas project in 2018

    Ron Bousso, Shadia Nasralla: JUNE 25 2018

    LONDON (Reuters) – Royal Dutch Shell said on Monday it will develop the Fram gas field in the North Sea, its third project approval in the aging basin this year.

    Shell’s final investment decision (FID) on Fram follows the green light for the expansion of the Penguins field in January, and the 50-50 joint venture Alligin field in the west of Shetlands area which is operated by BP.

    The UK North Sea is one of the world’s oldest offshore basins whose production started in the 1970s and peaked in the late 1990s. It has enjoyed a modest production revival in recent years thanks to a wave of new projects coming on stream. read more

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    Shell approves second North Sea project this year

    Jun. 25, 2018 11:14 AM ET|By: , SA News Editor

    Royal Dutch Shell (RDS.A, RDS.B) approves its second North Sea project in six months, moving forward with development of the Fram natural gas field it considered uneconomical to produce six years ago.

    Shell, along with partner Exxon Mobil (XOM -1.7%), says it plans to produce as much as 13K boe/day from two wells in the Fram field by 2020, adding ~10% to the company’s current output in the U.K. North Sea.

    Steve Phimister, head of Shell’s U.K. exploration and production unit, says deep cost cuts following crude’s decline and connecting smaller oil and gas pools to bigger projects are allowing it to squeeze more out of an aging North Sea, and that the company may take several more investment decisions in the North Sea this year because of the improved economics. read more

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    Shell, Exxon not to seek compensation for end of Groningen gas production: government

    Shell, Exxon not to seek compensation for end of Groningen gas production: government

    Reuters Staff: Monday June 25, 2018

    AMSTERDAM (Reuters) – Energy companies Royal Dutch Shell and Exxon Mobil will not submit a claim for missed revenue due to the Dutch government’s decision to halt gas production at the Groningen field by 2030, the Dutch ministry of Economic Affairs said on Monday.

    “A lot of gas will be left in the ground,” Economy minister Eric Wiebes said at the presentation of his deal with the oil majors responsible for extracting Groningen gas.

    “That gas is the property of the oil companies, but they will not submit a claim and the government is not required to compensate them.” read more

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    Shell to develop North Sea Fram gas field

    Shell to develop North Sea Fram gas field

    Monday 25 June 2018

    Oil company Shell has given the final go-ahead to develop the Fram gas field in the North Sea.

    The field, 100 miles east of Aberdeen, is expected to produce about 41 million cubic feet of gas a day.

    It will be connected using subsea infrastructure to the neighbouring Shearwater platform.

    Steve Phimister, Shell’s vice president for upstream in the UK and Ireland, said reducing development costs had allowed investment in new projects.

    He said: “With our strong record of operational excellence and project execution, we will look to invest in further projects as we work to grow our business in the North Sea.” read more

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    Future of Big Oil Increasingly Shaped by the Fate of Global Gas

    By Kevin Crowley and Kelly Gilblom
    25 June 2018, 00:00 BST

    Big Oil’s fortunes are becoming tied more closely to natural gas than ever before.

    Majors including Royal Dutch Shell Plc and BP Plc have boosted their proportion of gas output in recent years, helping them trim Exxon Mobil Corp.’s lead as the world’s most valuable oil company. Meanwhile Chevron Corp. added two giant Australian liquefied natural gas projects and Exxon is punching back with two major projects of its own, in Papua New Guinea and Mozambique. read more

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    After Successful Talks With Buhari, Shell Gets Approval For N10bn Bonga Southwest Project

    After the discussions between Buhari and van Beurden, Minister of State for Petroleum Resources, Ibe Kachikwu, sent a letter to the Group Managing Director (GMD) of Nigeria’s state-owned oil company NNPC, Mikanti Baru, instructing the corporation and the Anglo-Dutch oil company to conclude arrangements for the start of the project.

    BY SAHARA REPORTERS, NEW YORK JUN 20, 2018

    After years of delay, Shell has received approval to begin the Bonga Southwest project, following discussions held in London between its CEO Ben Van Beurden and Nigeria’s President Muhammadu Buhari.

    The project, which was first scheduled for completion in 2014, is expected to add 225,000 barrels per day to Nigeria’s present production average of 1.8-2.00 million bpd.

    After the discussions between Buhari and van Beurden, Minister of State for Petroleum Resources, Ibe Kachikwu, sent a letter to the Group Managing Director (GMD) of Nigeria’s state-owned oil company NNPC, Mikanti Baru, instructing the corporation and the Anglo-Dutch oil company to conclude arrangements for the start of the project. read more

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    Shell dumps interest in two Norwegian fields

    Shell dumps interest in two Norwegian fields

    Shell adds $556 million toward its goal of divesting $30 billion in a streamlining effort.

    By Daniel J. Graeber: June 20, 2018

    June 20 (UPI) — Supermajor Royal Dutch Shell said Wednesday it sold off its entire stake in two fields in production off the Norwegian coast for $556 million.

    Shell’s subsidiary in Norway sold its entire 44.56 percent interest in the Draugen field and its 12 percent in the Gjøa to Norwegian energy company OKEA.

    OKEA CEO Erik Haugane in a statement on the deal said the agreement with Shell was a “high-quality acquisition.”

    His company estimates it will become the 19th largest producer offshore Norway with the deal. The Shell acquisition gives it a boost in net production of about 22,000 barrels of oil equivalent. read more

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    A Quick Snapshot Of Shell’s Integrated Gas Business

    A Quick Snapshot Of Shell’s Integrated Gas Business

    Buys, holds and hopes Opinions expressed by Forbes Contributors are their own.

     Trefis Team , Contributor

    Royal Dutch Shell’s (NYSE: RDS.A) Integrated Gas business accounts for 20% of the company’s value, according to our estimates. LNG price movement is closely related to that of crude oil prices. As such, the average price realization for LNG was lower in 2015 and 2016. However, a recovery in oil prices since the second half of 2017 led to better price realization for Shell in the recent quarters, and this has aided the segment growth. We expect a low single digit segment revenue growth in 2018, and beyond, led by an increasing demand for LNG. We have created an interactive dashboardhighlighting the company’s Integrated Gas business. You can adjust revenue drivers and margins for 2018 and 2019 to see how it impacts the company’s overall revenues, earnings, and price estimate. Below we discuss our expectations and forecasts for the segment. read more

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    Prelude FLNG Receives Cool-Down Cargo

    BY MAREX 2018-06-11 12:58:00

    Shell’s giant floating liquefied natural gas plant (FLNG), the Prelude, moved closer to production last week when she received a cool-down cargo from the LNG carrier Gallina.

    The 70,000 dwt Gallina transferred a load of LNG to the Prelude on Wednesday and Thursday as the plant prepares for commissioning. It was the first time that Prelude has had an LNG carrier alongside to test the plant’s sophisticated loading arms.

    Prelude is now testing its systems in preparation for first gas from Shell’s Prelude field, which holds an estimated three trillion cubic feet of natural gas (in combination with the adjacent Concerto field). Royal Dutch Shell hopes to begin generating revenue from the multi-billion-dollar project sometime this year. read more

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    Orbit Energy Ltd and Shell Energy Europe Ltd Announce Five-Year Agreement

    LONDON, June 11, 2018 /PRNewswire/ —

    Orbit Energy Ltd, an exciting new entrant to the Great Britain (GB) electricity and gas market, has agreed to an exclusive five-year deal with Shell Energy Europe Ltd for the supply of its power, gas and environmental products.

    This agreement allows Orbit Energy to hedge its commodity risk and secure competitive energy prices for its customers, enabling accelerated growth in 2018.

    “Adding Shell Energy Europe as our strategic trading partner allows us to provide stable prices and peace of mind to our customers from day one. This partnership is a critical milestone, one that will support sustainable growth through continuity of supply for all Orbit Energy customers”; said Tim Szakacs, Co-founder and CEO, Orbit Energy. read more

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    Dutch government proposes faster cuts in Groningen gas production

    |By: , SA News Editor

  • The Netherland’s Groningen gas field will produce less than 12B cm/year by October 2020, the country’s economic affairs minister says.
  • The purchase of nitrogen to mixed with imported gas could lead to a reduction in gas extraction of 1B-1.5B cm, the minister says in a letter to the Dutch parliament, adding that Groningen gas production could drop by another 7B cm once the nitrogen plant in Zuiderbroek is operational.
  • In March, Prime Minister Rutte said the government aimed to end all production in Groningen by 2030 due to earthquakes.
  • Gas company NAM, which runs the Groningen field, is a joint venture of Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM).
  • read more

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    Shell campaigner loses High Court case against Corrib gas pipeline

    Shell campaigner loses High Court case against Corrib gas pipeline

    MAURA HARRINGTON – Campaigner against the Shell Corrib gas project in Co Mayo. Alone, unrepresented, faced four senior counsel. 

    A campaigner against the Shell Corrib gas project in Co Mayo has lost her High Court bid to overturn a ministerial consent for a pipeline bringing gas to a refinery at Ballinaboy.

    Maura Harrington, who has opposed the project since 2001, has described it as “a land, sea and air attack on the place that is Erris”. read more

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    As Trump Riles Europe on Trade, Putin Offers More Natural Gas

    …the EU may protect the companies financing Nord Stream 2. Those include Royal Dutch Shell Plc…

    By William Wilkes and Ewa Krukowska
    4 June 2018, 05:00 BST

    As Donald Trump’s trade policy risk worsening economic conflict with Europe Union, Russia’s Vladimir Putin is strengthening ties with the region.

    Putin will mark 50 years of gas exports to Europe at an event in Vienna on Tuesday. A controversial 9.5 billion-euro ($11 billion) pipeline to feed more supplies from Siberia directly into Germany is progressing despite a U.S. sanctions threat. And Moscow-based Gazprom PJSC last month settled a seven-year-old pricing dispute with the European Union, enabling it to expand its market share. read more

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    Shell Tries to Market Some of Its Natural Gas as Clean Energy

    By Mathew Carr, 1 June 2018

    Royal Dutch Shell Plc is attempting to market some of its natural gas as clean energy, packaging it with credits for eco-friendly projects that offset pollution coming from the fuel.

    The oil giant is offering business customers in Europe a combination of gas and certificates that show emissions are offset with financing for carbon-reduction projects. It’s testing markets in Germany, Italy, Spain and Britain to gauge demand for what credits to use, according to David Wells, head of Shell Energy Europe. read more

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    Petronas Takes 25% Stake in Shell-Led Canadian LNG Project

    By Elffie Chew and Natalie Obiko Pearson: 31 May2018

    (Bloomberg) — Malaysia’s Petroliam Nasional Bhd. agreed to take a 25 percent equity stake in a proposed liquefied natural gas project in Canada led by Royal Dutch Shell Plc.

    The Canadian unit of Shell will hold a 40 percent stake, while subsidiaries of PetroChina Co. and Mitsubishi Corp. will have a 15 percent share each, according to a statement from Thursday from Petronas. A unit of Korea Gas Corp. will hold 5 percent. The announcement confirmed an earlier Bloomberg News report that a deal was imminent. read more

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    Malaysia’s Petronas buys 25 percent stake in LNG Canada project

    Shell will continue to be the biggest owner in LNG Canada, holding a 40 percent stake.

    Reuters Staff: MAY 31, 2018

    SINGAPORE (Reuters) – Malaysia’s state-owned oil and gas company Petroliam Nasional Bhd [PETR.UL] said on Thursday it is buying a 25 percent stake in a Canadian liquefied natural gas (LNG) export project, nearly a year after cancelling its own planned terminal.

    The company, known as Petronas, will buy an equity stake in LNG Canada, an export project led by Royal Dutch Shell located in Kitimat, British Columbia, said Petronas in a statement. The purchase is expected to close in the next few months, the company said. read more

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    Friends of the Earth says to sue Shell over climate change

    Reuters Staff: Tuesday 29 May 2018

    LONDON (Reuters) – Friends of the Earth plans to file a lawsuit against Royal Dutch Shell (RDSa.L), accusing the oil company of failing to act on climate change, the environmental activist group said on Tuesday.

    Shell has set out “ambitions” to halve carbon emissions by 2050 and expand in renewables, but the Anglo-Dutch company has come under pressure from investors and activists to reduce its carbon footprint and comply with the 2015 international Paris climate agreement. read more

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    Tanzanian MP Wants Shell-BG U.S.$500 Million Transaction Investigated

    Tanzanian MP Wants Shell-BG U.S.$500 Million Transaction Investigated

    Dodoma — Momba MP Mr David Silinde (Chadema) has asked the Parliament to form a special committee to investigate the transaction between Shell and BG over Tanzania’s gas blocks alleging that Shell did not pay capital gain tax.

    Debating the budget of the Ministry of Energy on Friday, Mr Silinde said the company should pay the tax estimated at $500 million.

    “There is a possibility that the transaction involved corruption. Hence, denies the country the revenue which could address different challenges in the energy sector,” said Mr Silinde. read more

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    Shell Spreads Its Bets Around as It Prepares for a Greener Future

    Shell closed a deal to buy First Utility, a British energy company that owns neither power plants nor gas pipelines, in March. CreditTom Jamieson for The New York Times

    By Stanley Reed

    COVENTRY, England — There seems to be little about the scrappy energy company in central England that would appeal to Royal Dutch Shell, the button-down oil giant.

    The little company, First Utility, is an upstart challenger. It offers friendly customer service, and low prices on electricity and natural gas. But it doesn’t own any power plants or gas pipelines; First Utility is a virtual energy company — the product of technological advancement and deregulation. read more

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    LNG Canada committed to starting construction on project in 2018: CEO

    Julie Gordon: MAY 15, 2018

    VANCOUVER (Reuters) – The chief executive of the LNG Canada project on British Columbia’s northern coast said on Tuesday that the company was committed to starting construction on the C$40 billion ($31.1 billion) liquefied natural gas export project this year.

    An investment decision on the terminal was delayed in 2016, due to sagging oil prices that hit cash flows, along with an unfavorable supply-demand outlook, but remains on track for 2018, Andy Calitz said at an LNG conference on Tuesday. read more

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    Total, Shell in gas development deal with Oman

    Two oil majors have struck a deal with Oman over the development of natural gas resources in the Middle Eastern state.

    Written by

    Total and Shell, as operator, will develop several natural gas discoveries located in the Greater Barik area on onshore Block 6 with respective shares of 25% and 75%.

    They aim to produce of around 500million cubic feet of gas per day, rising to 1billion at a later stage.

    Total will use its share to develop a regional hub for supplying LNG as a fuel to marine vessels.

    Arnaud Breuillac, president, exploration and production at Total, said: “We are pleased to sign this MoU with the Sultanate of Oman that will give us access to new gas resources and the opportunity to develop an integrated gas project. read more

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    Shell ‘cautiously optimistic’ about LNG Canada project, exec says

    |By: , SA News Editor

    Royal Dutch Shell’s (RDS.A, RDS.B) is “cautiously optimistic” about its proposed LNG Canada project in Kitimat, B.C., ahead of a potential final investment decision this year, says Shell Canada president Michael Crothers.

    “We’re getting cost estimates finalized [and working] on the economics,” Crothers says, noting the Shell-led partnership recently chose Fluor and Japan’s JGC for the project’s engineering, procurement and construction.

    “We don’t have a definitive time line for FID,” Crothers adds, “but we’re working through and managing these issues and making the project all the more affordable and competitive as we go.” read more

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    Shell to Sell Canadian Natural Resources Stake for $3.3 Billion

    Shell seeking to sell $30 billion in assets to cut debt

    A unit of Royal Dutch Shell Plc has agreed to sell its entire stake in oil sands producer Canadian Natural Resources Ltd. for about $3 billion, which will be used to reduce debt.

    Shell Gas BV will sell its 97.6 million shares in Canadian Natural for total pretax proceeds of $3.3 billion, and the transaction is expected to be completed by Wednesday, according to a statement from Hague-based Shell. The shares are being offered at $34.10 each, according to a person familiar with the matter, a 2.9 percent discount to its close Monday in New York. read more

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    Shell to sell stake in Canadian Natural for about $3.3 bln

    Reuters staff: Monday 8 May 2018

    May 7 (Reuters) – Royal Dutch Shell Plc’s Shell Gas B.V. unit said on Monday it was selling its entire stake in Canadian Natural Resources Ltd for $3.3 billion.

    Shell signed an underwriting agreement for the sale of its entire stake of 97.6 million shares in Canadian Natural, the company said in a statement.

    Last June, Shell had reported a stake of 8 percent in Canadian Natural.

    Shell decided to offload the roughly C$4.1 billion ($3.18 billion) stake in Canadian Natural Resources that it acquired as part of a deal to retreat from Canada’s oil sands, people familiar with the situation had told Reuters nearly a year ago. read more

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    Shell Isn’t Worried About Peak Demand But Asset Managers Are

    : April 30, 2018

    Summary

    • Royal Dutch Shell’s latest Energy Transition Report contains a demand outlook for oil and gas that is quite conservative compared to its industry peers.
    • The company’s demand outlook is higher than what will likely be possible if the Paris Climate Agreement’s emissions targets are to be achieved, however.
    • Almost 90% of respondents in a recent survey of major asset managers believe that climate risks will have a “significant” impact on oil and gas company valuations in the near-term.

    The release of two separate reports in as many weeks on how integrated oil and gas producers will manage an anticipated transition toward low-carbon energy is likely to leave investors in Royal Dutch Shell (RDS.A)(RDS.B) with some questions. The company released its new Energy Transition Report earlier this month, and the final product presents its strategy for maintaining its operations even as the world’s major economies (with the exception of the U.S.) work to meet their greenhouse gas emission reduction targets under the Paris Climate Agreement. The report’s relatively phlegmatic conclusion stands in stark contrast to the results of an annual survey by the UK Sustainable Investment and Finance Association that identified strong concern from asset managers on the same count. read more

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    Shell’s $14-billion contract for Kitimat project a sign B.C. may catch the second LNG wave

    Jesse Snyder: April 27, 2018 2:19 PM EDT

    The consortium behind LNG Canada named the prime contractors for its $40-billion export project on Friday, taking the development forward amid concerns that steep import tariffs on some steel components could still make the project untenable.

    In a decision the consortium called a “significant milestone,” LNG Canada said U.S.-based Fluor Corp. and Japan’s JGC Corp. would lead the $14-billion construction contract for the liquefied natural gas project in Kitimat on the B.C. West Coast. Construction of the facility would employ thousands of workers and take roughly five years to complete. read more

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    Shell writes off Groningen gas field on Dutch phase-out

    Reuters Staff: APRIL 26, 2018 / 4:02 PM

    LONDON (Reuters) – Royal Dutch Shell said on Thursday it would write down its reserves in the Groningen gas field, one of Europe’s largest, following the Dutch government’s decision to phase out production by 2030.

    The Anglo-Dutch company holds a 50 percent stake in the field, which has seen production reduced in recent years following a series of damaging earthquakes. 

    Shell said it expects to write off an estimated 0.5 to 0.65 billion barrels of oil equivalent in 2018. read more

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    SHELL WRITES OFF NAM SHARES OVER GRONINGEN GAS EXTRACTION REDUCTION

    By Janene Pieters on April 26, 2018 – 12:20

    In its bookkeeping, Shell is reducing the value of its interest in NAM to zero in response to the Dutch government deciding to cin the coming years, RTL Nieuws reports.

    Dutch petroleum company NAM is responsible for gas extraction in Groningen. NAM is owned half by Shell and half by ExxonMobil. Depreciating its shares in NAM is costing Shell 244 million dollars, according to RTL.  

    The Dutch government concluded that safety in Groningen can only be guaranteed if the cause of the gas extraction earthquakes in the province is completely removed. The government therefore plans to reduce gas extraction in the province to 12 billion cubic meters by 2022 at the latest. From October 2022 gas extraction will be reduced to 7.5 billion cubic meters “and possibly considerably less”. And after that it will gradually be reduced to zero. read more

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    Shell Invests in the Vito Development in the Gulf of Mexico

    Shell rendering of its Vito deep-water development in the U.S. Gulf of Mexico. Vito will feature a new, simplified host design and associated infrastructure.

    HOUSTON, April 24, 2018 /PRNewswire/ — Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, today announces the final investment decision for Vito, a deep-water development in the U.S. Gulf of Mexico with a forward-looking, break-even price estimated to be less than $35 per barrel. This decision sets in motion the construction and fabrication of a new, simplified host design and subsea infrastructure. read more

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    Shell, Inpex near finish line in race to export north Australian LNG

    Henning Gloystein: APRIL 24, 2018

    SINGAPORE (Reuters) – Shell and Inpex are on the final stretch of a years-long race to export gas from offshore northern Australia, where both have spent billions of dollars building the world’s biggest maritime vessels to grab a slice of Asia’s booming LNG market.

    Anglo-Dutch energy major Royal Dutch Shell and Inpex, Japan’s biggest oil and gas producer, are vying for first gas from two overlapping fields after delays and cost overruns that have plagued both projects. 

    The pair have spent billions on offshore facilities, including Shell’s 490 meter (1,600 ft) long Prelude floating liquefied natural gas unit and Inpex’s Ichthys Explorer semi-submersible platform, both the world’s largest of their class. read more

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    Long-stalled LNG plant revived as Asia ditches coal

    TOKYO — An international consortium led by Royal Dutch Shell and includes China National Petroleum Corp., Korea Gas and Japanese trading house Mitsubishi Corp. is moving ahead on a long-stalled liquefied natural gas plant in Canada, as environmental concerns drive Asia toward cleaner energy sources.

    Japanese plant engineering company JGC and American counterpart Fluor jointly won orders to design and build the project in the British Columbia community of Kitimat on Canada’s Pacific coast for an estimated $14 billion. read more

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    Royal Dutch Shell to resume deep-water exploration off Egypt

    Reuters Staff: APRIL 17, 2018

    ALEXANDRIA, Egypt (Reuters) – Royal Dutch Shell said it will resume deep-water exploration for oil and gas off Egypt’s Mediterranean coast, Executive Vice President Sami Iskander told a news conference on Tuesday.

    Egypt is looking to production from recently discovered fields to halt energy imports by 2019.

    A petroleum ministry official said last month that new production at Shell’s West Nile Delta field 9B is expected to reach 350-400 million cubic feet per day by 2019. read more

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