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Total overtakes Shell in North Sea where appetite for assets remains high

AUGUST 22, 2017 / 2:13 PM

LONDON (Reuters) – French oil major Total (TOTF.PA) has overtaken rival Royal Dutch Shell (RDSa.L) to become the second-largest producer in the North Sea with its acquisition of Maersk’s (MAERSKb.CO) Norwegian and UK producing assets.

The $7.45 billion deal by Total was welcomed by the market, with analysts saying it helped the French company rebalance its portfolio by adding assets in developed countries after going for projects in riskier places such as Iran and Russia. read more

Shell lifts its first crude cargo from Libya in five years: industry sources

DUBAI (Reuters) – Royal Dutch Shell has lifted a cargo of 600,000 barrels of crude oil from Libya’s Zueitina port, its first from the war-torn north African country in 5 years, two industry sources told Reuters on Saturday.

“Libya is a significant resource holder and Shell International Trading and Shipping Company Ltd (STASCO) has a history marketing Libyan crudes,” a Shell spokesperson said.

“We welcome new business opportunities with Libya’s National Oil Corporation (NOC). However, we don’t comment on specific trading deals,” the spokesperson added. read more

Oil producers signal offshore return in latest Gulf of Mexico auction

 Unused oil rigs sit in the Gulf of Mexico near Port Fourchon, Louisiana August 11, 2010. Lee Celano/File Photo

Royal Dutch Shell claimed the largest number of blocks, with 19 high bids valued at a combined $25.1 million.

Liz Hampton: AUGUST 16, 2017

HOUSTON (Reuters) – Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million (94.08 million pounds) on Wednesday, a nearly seven-fold increase from a year ago, as their return to deep water exploration gained momentum.

This compared with $18 million in high bids at the Bureau of Ocean Energy Management’s (BOEM) Outer Continental Shelf auction last summer. read more

Australia’s $180 bln LNG megaproject boom enters final stretch

Australia’s $180 bln LNG megaproject boom enters final stretch

* Shell, Inpex race to tap gas in adjacent fields

* Ichthys LNG targets first output by March 2018

* Prelude FLNG seen starting between April and July

* Australia on course to 88 mln T/yr LNG export capacity

By Sonali Paul

MELBOURNE, Aug 14 (Reuters) – The last massive component of Australia’s $180 billion liquefied natural gas construction boom arrived on Monday, stepping up a race between Anglo-Dutch giant Shell and Japan’s Inpex to start chilling gas for export in 2018.

Company reputations are at stake, as well as first access to overlapping gas fields and Australia leapfrogging Qatar as the world’s largest exporter of LNG.

The Ichthys Venturer, a floating production, storage and offloading facility, travelled 5,600 km (3,500 miles) from a South Korean shipyard and will be moored 220 km off Western Australia to handle condensate from the Ichthys field. read more

Brazil’s Cosan sees better ethanol returns as prices improve

AUGUST 10, 2017 / 5:02 PM

By Marcelo Teixeira

SAO PAULO, Aug 10 (Reuters) – Cosan SA Indústria e Comércio expects ethanol sales to yield better returns than sugar across some Brazilian states, a factor that may prompt one of the country’s largest energy and infrastructure companies to fine-tune its current output mix.

Raízen Energia, a 50-50 joint venture between Cosan and Royal Dutch Shell Plc that is the world’s No. 1 sugar producer, could adjust the amount of sugar and ethanol it produces if price conditions for the biofuel improves, Cosan’s investor relations head Paula Kovarsky said on a conference call on Thursday.

Raízen earmarked 57 percent of cane to sugar production in the second quarter, higher than the 55 percent it did a year ago. Simultaneously, Raízen has reduced sugar hedging on an annual basis on hopes of a mid-term recovery in international prices, she added. read more

Shell sees Brazil R&D investment this year at $38 mln

Shell sees Brazil R&D investment this year at $38 mln

SAO PAULO, Aug 9 (Reuters) – The Brazilian unit of Royal Dutch Shell Plc estimates it will invest around 120 million reais ($38 million) in research and development in the country this year, said André Araújo, head of Shell Brazil unit, on Wednesday.

(Reporting by Marta Nogueira and Alexandra Alper; Editing by Chizu Nomiyama)

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Gunvor offers E.Guinea funding help in bid for LNG

Gunvor offers E.Guinea funding help in bid for LNG

By Oleg Vukmanovic and Wendell Roelf

LONDON/CAPE TOWN, Aug 4 (Reuters) – Gunvor has offered to help Equatorial Guinea with financing as the Swiss commodity trader looks to edge out rivals bidding for supply from Africa’s first deepwater floating liquefied natural gas (FLNG) plant.

Gunvor, Vitol and Royal Dutch Shell have been shortlisted for an LNG off-take deal from the $2 billion Fortuna project with a decision expected this month.

Industry sources say Gunvor is looking to help state-run Sonagas finance a 30 percent stake in the project in return for selecting it to export gas from it. read more

Shell mulls German refinery upgrade to meet 2020 IMO sulphur rules

Shell mulls German refinery upgrade to meet 2020 IMO sulphur rules

AUGUST 4, 2017 / 3:22 PM

LONDON (Reuters) – Royal Dutch Shell is considering expanding the capacity of one of its German refineries to make oil products that meet an upcoming cap on the sulphur content of fuels used in shipping.

In the past few days, Rheinland refinery representatives met local officials and environmental groups to present preliminary plans for an investment at the plant’s 140,000-barrels-per-day Wesseling site, Shell said on the refinery’s website.

Shell is considering “a modernization of the residue processing unit at Rheinland refinery and to enhance the desulphurization plant there”, Shell told Reuters in an emailed statement. read more

Energy Shares Fall As OPEC Production Seen Picking Up – Energy Roundup

A fire outage at the largest oil refinery in Europe, a Royal Dutch Shell facility in the Netherlands, is ongoing, driving up prices of oil derivatives.

Dow Jones Newswires

Shares of energy producers ticked down as the price of oil foundered around the psychologically significant $50-a-barrel level. Among the data weighing on oil prices was a Reuters survey showing that OPEC production rose to its highest level in seven months last month. BP said it could now turn a profit with oil prices at these levels, saying its could break even with oil as low as $47 a barrel. BP swung to a second-quarter profit even as it absorbed further costs from the 2010 oil spill and as oil futures remained stuck in the $40s. A fire outage at the largest oil refinery in Europe, a Royal Dutch Shell facility in the Netherlands, is ongoing, driving up prices of oil derivatives. read more

Shell invests in Singapore solar firm Sunseap; eyes solar projects

Reuters Staff: AUGUST 1, 2017 / 11:18 AM

SINGAPORE (Reuters) – Royal Dutch Shell has invested in Singapore-based solar firm Sunseap Group for an undisclosed sum as part of a planned collaboration on solar projects in the Asia-Pacific region, the companies said on Tuesday.

Shell declined to reveal the amount invested by Shell Technology Ventures, the company’s corporate venturing arm.

Privately held Sunseap Group has about 160 megawatts of distributed solar contracts in Singapore, holds an electricity retailer license and has secured utility scale solar projects in the region, the two companies said. read more

European oil majors seek to harness U.S. offshore wind

Karolin Schaps and Susanna Twidale: AUGUST 1, 2017 / 10:34 AM

LONDON (Reuters) – Some European oil majors have made inroads into the emerging U.S. offshore wind energy market, aiming to leverage their experience of deepwater development and the crowded offshore wind arena at home.

Late entrants to the offshore wind game in Europe, which began with a project off Denmark 25 years ago and is now approaching maturity, they are looking across the Atlantic at what they view as a huge and potentially lucrative new market. read more

Shell plans 400 job cuts at Dutch projects and technology department

Royal Dutch Shell Plc plans to cut more than 400 jobs in the Netherlands, mainly at its major projects and energy technology operations, as the oil giant shifts its business model in response to lower oil prices, according to an internal document seen by Reuters.

The world’s second-largest oil company by market capitalization said in a statement responding to questions from Reuters that “approximately 400 (staff) are potentially at risk of redundancy during the last quarter of 2017/first half of 2018”. read more

Shell contains leak at Singapore refining-petrochemical site – spokeswoman

REUTERS Staff: JULY 31, 2017

SINGAPORE (Reuters) – Royal Dutch Shell (RDSa.L) has contained a leak at its Pulau Bukom refining and petrochemical complex in Singapore, and operations have not been affected, a company spokeswoman said on Monday.

The small leak occurred on Friday, the spokeswoman said, without revealing further details on the affected unit.

The Bukom site, Shell’s largest wholly-owned plant, has a 500,000 barrels per day (bpd) refinery and a steam cracker that produces more than 900,000 tonnes of ethylene a year. read more

Shell Plans 400 Job Cuts at Dutch Projects and Technology Department

LONDON — Royal Dutch Shell Plc plans to cut more than 400 jobs in the Netherlands, mainly at its major projects and energy technology operations, as the oil giant shifts its business model in response to lower oil prices, according to an internal document seen by Reuters.

The world’s second-largest oil company by market capitalization said in a statement responding to questions from Reuters that “approximately 400 (staff) are potentially at risk of redundancy during the last quarter of 2017/first half of 2018”. read more

Shell plans 400 job cuts at Dutch projects and technology department

“There will be fewer one-of-a-kind highly complex mega-projects and proportionately more simple to medium complex projects… This heralds a more ‘commoditised’ world for project delivery,” said the document, which was given to royaldutchshellplc.com, an independent website used by Shell staff, and seen by Reuters.

By Tom Bergin

LONDON, July 31 (Reuters) – Royal Dutch Shell Plc plans to cut more than 400 jobs in the Netherlands, mainly at its major projects and energy technology operations, as the oil giant shifts its business model in response to lower oil prices, according to an internal document seen by Reuters.

The world’s second-largest oil company by market capitalisation said in a statement responding to questions from Reuters that “approximately 400 (staff) are potentially at risk of redundancy during the last quarter of 2017/first half of 2018”. read more

Shell suspends Pernis refinery loadings after fire

RON BOUSSO: JULY 30, 2017 / 8:45 PM

LONDON (Reuters) – Royal Dutch Shell suspended loadings of oil products from its Pernis refinery in the Netherlands following a fire at the plant, the company said in a statement to traders on Sunday.

Shell shut down most of its production at Pernis, Europe’s largest refinery, after the fire at the 404,000 barrels per day plant late on Saturday caused a power outage.

The company said that no casualties were reported in the incident and the fire was under control, but it expected loadings to be suspended on Monday as well. read more

Shell Braces For ‘Lower Forever’ Oil As Profits Soar

Shell Braces For ‘Lower Forever’ Oil As Profits Soar

by  Reuters: Ron Bousso & Karolin Schaps: Thursday, July 27, 2017

LONDON, July 27 (Reuters) – Royal Dutch Shell is gearing up for a world of “lower forever” oil prices, its Chief Executive Ben van Beurden said on Thursday, after the company’s profits tripled in the second quarter.

The oil and gas industry has struggled with three years of weak prices while also facing the prospect of oil demand plateauing by the end of the next decade.

But Europe’s largest energy company was able to boost its profits more than expected, increase cash flow to $12.2 billion and reduce debt thanks to asset sales and as big savings introduced since the oil price collapse kicked in. read more

Shell gets everything right except producing oil

Andy Critchlow: JULY 27, 2017

LONDON (Reuters Breakingviews) – Royal Dutch Shell is great at producing profit, but less so at producing oil. The Anglo-Dutch energy giant has more than tripled its earnings in the second quarter, helped by the strong performance of its downstream refining business and recovering prices. With its debt falling too, the company is doing the right things for shareholders – except in the crucial area of pumping more fuel.

At first glance, Shell’s financial performance suggests that three years in the doldrums for big oil majors may have come to an end. On Thursday, the company reported an impressive 245 percent year-on-year rebound in clean earnings to $3.6 billion for the three-month period ending in June. Prices, which recovered from a slump last January below $30 per barrel, have helped, but there is more to it. read more

Shell sees oil demand peaking by late 2020s as electric car sales grow

By Ron Bousso and Karolin Schaps

LONDON, July 27 (Reuters) – The world’s oil consumption could peak as early as the end of the next decade as electric vehicles become more popular, Royal Dutch Shell Chief Executive Ben van Beurden said on Thursday.

The prospect of a decline in oil consumption after more than a century of growth as the world switches to burning cleaner fuels is gathering pace. On Wednesday Britain announced plans to ban diesel and gasoline vehicles by 2040, following a similar move by France. read more

Europe’s Oil Giants Recover From Three-Year Slump

LONDON/PARIS — Europe’s major oil and gas companies have turned a corner after a three-year slump, reporting strong growth in profits as cost cutting paid off and vowing to press on with saving more money amid a fragile recovery in oil prices.

Royal Dutch Shell, France’s Total and Norway’s Statoil reported sharp increases in cash flow from operations in the second quarter as profits beat analyst expectations, meaning they can all comfortably pay dividends and reduce debt. read more

Shell Profits Triple on Stronger Refining, Oil Prices

Shell CEO Ben van Beurden

LONDON — Royal Dutch Shell more than tripled its profits in the second quarter to beat forecasts boosted by strong refining operations and a rise in oil prices.

The Anglo-Dutch oil and gas company also reported a huge recovery in cash flow to $12.2 billion and a drop in debt as its cost reduction efforts in recent years paid off. It has sold some $25 billion of assets since acquiring BG Group last year.

The strong results came despite a dip in oil and gas production versus the previous quarter as a result of reduced output from a facility in Qatar. read more

EU warns U.S. it may respond swiftly to counter new sanctions on Russia

A list prepared by the EU executive, seen by Reuters, shows eight projects including those involving oil majors Anglo-Dutch Shell, BP and Italy’s Eni that risk falling foul of the U.S. measures. EU officials warn the U.S. measures would also hit plans for the LNG plant on the Gulf of Finland in which Shell is partnering with Gazprom.

Alissa de Carbonnel: 26 July 2017

BRUSSELS (Reuters) – The European Union warned on Wednesday that it was ready to act within days to counter proposed new U.S. sanctions on Russia, saying they would harm the bloc’s energy security.

Sanctions legislation overwhelmingly approved by the U.S. House of Representatives on Tuesday has angered EU officials: they see it as breaking transatlantic unity in the West’s response to Moscow’s annexation of Crimea from Ukraine in 2014 and its support for separatists in eastern Ukraine. read more

Shell, SoftBank Weigh Bids for Asia Renewables Firm Worth Up to $5 Bln – Sources

SINGAPORE — Royal Dutch Shell and SoftBank are among several global groups considering bidding for Equis Energy, Asia’s largest independent renewable energy producer valued at up to $5 billion (3.84 billion pounds), sources familiar with the matter said.

Japanese trading companies, global pension funds and buyout firms are also in the fray to buy Singapore-based Equis, the sources said, at a time when many Asian governments are expanding the use of renewable power and its costs are falling. read more

EU Divided on How to Answer New U.S. Sanctions Against Russia

BRUSSELS — European Commission preparations to retaliate against proposed new U.S. sanctions on Russia that could affect European firms are likely to face resistance within a bloc divided on how to deal with Moscow, diplomats, officials and experts say.

A bill agreed by U.S. Senate and House leaders foresees fines for companies aiding Russia to build energy export pipelines. EU firms involved in Nord Stream 2, a 9.5 billion euro ($11.1 billion) project to carry Russian gas across the Baltic, are likely to be affected. read more

After false dawn, Big Oil to double down on cost cuts

LONDON (Reuters) – After a brief respite at the start of the year, the world’s top oil and gas companies are set to double down on cost cutting as a recovery in crude prices after a three-year slump falters.

Corporate hopes were raised by a deal between members of the Organization of Petroleum Exporting Countries and other non-OPEC producers to cut production, which lifted oil prices above $58 a barrel in January, after they had slid to as low as $27 in 2016.

But Brent crude prices have since slipped back below $50 and banks have lowered price forecasts, amid surging output from the United States and other nations not bound by the global oil pact. read more

Idemitsu moves closer to Showa Shell deal after court nod to share sale

By Taiga Uranaka and Osamu Tsukimori

TOKYO, July 18 (Reuters) – Idemitsu Kosan Co said it would proceed with a $1.1 billion sale of new shares, after a court rejected the founding family’s petition to block the offering, potentially clearing the way for a takeover of Showa Shell Sekiyu.

The family has lodged an appeal with the Tokyo High Court, their lawyer said, calling the ruling “unjust”.

The descendents of the Idemitsu founder, Sazo Idemitsu, have been locked in a battle with the Japanese refiner’s management for more than a year over the proposed Showa Shell buyout. The new share sale would dilute the family’s stake and make it harder for them to oppose the deal. read more

Trump administration approves Eni plan to drill offshore Alaska

Royal Dutch Shell Plc quit its exploration quest offshore Alaska in 2015 after a ship it had leased suffered a gash in mostly uncharted waters…

WASHINGTON (Reuters) – Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years.

The Bureau of Ocean Energy Management approved the drilling plan of Eni US, a unit of Italy’s Eni on Wednesday as part of President Donald Trump’s plan to boost oil and gas drilling and make the country “energy dominant.” read more

Oil majors face downgrades if crude prices don’t pick up: S&P

JULY 12, 2017

LONDON (Reuters) – Big oil firms would face increased credit rating downgrade pressures if crude prices stayed below $50 a barrel on average until the end of 2018 and they did not compensate by cutting costs, S&P Global said on Wednesday.

S&P currently has downgrade warnings – or negative outlooks in rating agency parlance – on ExxonMobil XOM.n, Chevron Corp (CVX.N) and Total (TOTF.PA), while the other so-called ‘majors’ include Royal Dutch Shell (RDSa.L) and BP (BP.L). read more

Shell to exit upstream business in Ireland with $1.23 billion stake sale

(Reuters) – Royal Dutch Shell is to sell its 45 percent stake in the Corrib gas venture to a subsidiary of Canada Pension Plan Investment Board for up to $1.23 billion, marking the oil company’s exit from the upstream business in Ireland.

The deal includes an initial consideration of $947 million and additional payments of up to $285 million between 2018-2025, subject to gas price and production, Shell said in a statement on Wednesday.

The transaction will result in an impairment charge of around $350m, which will be taken in Q2, 2017, Shell said. read more

Shell Pakistan says to pay fine for tanker fire that killed 217

A Pakistani subsidiary of Royal Dutch Shell on Tuesday agreed to pay a fine of about 257 million rupees ($2.4 million) in compensation for a tanker truck explosion that killed more than 200 people last month.

The fiery blast on June 25 was one of the worst accidents in Pakistan’s history. A tanker carrying fuel rolled over in Punjab province and villagers rushed to collect leaking fuel.

Something then set off a fireball.

The regulator, the Oil and Gas Regulatory Authority (OGRA), held Shell Pakistan responsible for the accident in which 217 people died and 61 were injured. read more

Qatar LNG flows unaffected by crisis: Shell

COMMODITIES | Mon Jul 10, 2017 | 9:26am EDT

Qatari exports of liquefied natural gas (LNG) remain stable amid ongoing tension between the world’s biggest LNG exporter and its neighbors, an executive for Royal Dutch Shell said on Monday.

“LNG flows remain stable, cargoes are going into the market,” said Steve Hill, Executive Vice-President for Gas and Energy Marketing and Trading at Shell, one of the world’s biggest LNG traders.

“Qatar is a very credible and competent LNG producer,” Hill said at an industry event in Istanbul. read more

Shell Sees Rising Investment in Renewables

ISTANBUL — Royal Dutch Shell will be spending up to $1 billion a year by 2020 on projects within its new energies division, Chief Executive Ben van Beurden told an industry conference on Monday.

Shell set up the division to focus on renewable energy and new technologies to help lower carbon emissions.

“Shell is determined to find solutions and will be spending up to $1 billion (775.49 million pounds) a year on our new energies division by the end of the decade,” van Beurden told the conference. read more

After Iran move, Total seen in pole position to snap up Qatar gas deals

By | DOHA/LONDON:Mon Jul 10, 2017 | 8:13 AM BST

Total is well placed to take a lead role in helping Qatar expand output from the world’s largest gas field, largely thanks to its involvement in the Iranian side of the shared deposit, two sources familiar with Doha’s thinking said.

That puts the French oil major ahead of rivals like Exxon and Shell in the early running for developing the expansion, which the tiny Gulf state announced as it seeks to counter growing isolation caused by a regional diplomatic rift.

Total boss Patrick Pouyanne signed a deal this month to develop the South Pars field, as Iran’s part of the shared reserves are known, becoming the first oil major to return to the country since the lifting of sanctions. read more

Pakistan orders Shell subsidiary to pay at least $2 million for deadly tanker explosion

SLAMABAD, July 7 (Reuters) – Pakistan’s oil and gas regulator on Friday ordered the local subsidiary of Royal Dutch Shell to pay at least 210 million rupees ($1.99 million)in damages and compensation for tanker explosion that killed more than 200 people last month.

A copy of the report on the June 25 explosion held Shell Pakistan Ltd responsible for the massive blast in southern Punjab province after a tanker carrying gasoline for company rolled over. read more

Qatar signals LNG price war for market share in Asia

U.S. and European oil majors such as Royal Dutch Shell and Chevron have invested huge sums over the last decade – often more than they have spent on oil – in an attempt to dominate the LNG market, especially through mega-projects in Australia such as Chevron’s Gorgon or Shell’s Prelude.

By Henning Gloystein and Mark Tay | SINGAPORE

Qatar’s plan to boost liquefied natural gas (LNG) output by 30 percent is the opening shot in a price war for customers in Asia pitting the Gulf state against competitors from the United States, Russia and Australia.

Qatar, facing regional isolation in a diplomatic dispute with its Gulf neighbors, took energy markets by surprise on Tuesday when it said it would raise its LNG production to 100 million tonnes per year – equivalent to a third of current global supplies – within the next five to seven years. read more

Companies have to open up about climate risks – Shell CEO

Climate change poses one of the biggest long-term risks to the global economy and companies, including big oil and gas firms such as Shell, have to be open about how the risks will affect them, its chief executive said on Tuesday.

Shell, one of the biggest oil and gas producing firms in the world, is under growing pressure from some shareholders to improve its carbon footprint and sustainability credentials.

Shell said it assesses climate change risks internally but it has so far not disclosed in detail what financial impact climate-related risks could have. read more

Pakistan Investigating Shell Contractor’s Tanker Blast That Killed 209

Pakistan Investigating Shell Contractor’s Tanker Blast That Killed 209

By Saad Sayeed: July 4, 2017, at 9:15 a.m.

ISLAMABAD (Reuters) – Pakistan’s oil and gas regulator expects the first report this week on a road tanker explosion, involving a Shell Pakistan contractor, that killed 209 people, a spokesman for the regulatory authority said on Tuesday.

The June 25 explosion took place after the oil tanker went off road to avoid a collision outside the eastern city of Bahawalpur.

A large crowd of people gathered around the truck and many began collecting fuel in containers when the tanker exploded in a huge fireball. read more

Shell’s Floating LNG Facility Sets Sail From South Korea for Australia

LONDON — Royal Dutch Shell’s Prelude floating liquefied natural gas (FLNG) ship has left a shipyard in South Korea for its destination offshore northwest Australia, the company said on Thursday.

Shell’s $12.6 billion (9.72 billion pounds) Prelude project is expected to start operating next year, the company said, after long delays since the oil major first decided to go ahead with the project in 2011.

Once the facility arrives in Australia, it will be secured to the seabed by mooring chains before it can be connected to the gas field and start operating, Shell said. read more

Widows of executed Nigerian activists seek Shell apology, compensation

By Ron Bousso | LONDON

The widows of four of nine men executed by Nigeria’s military regime in 1995 have filed a civil lawsuit seeking compensation and an apology from Royal Dutch Shell (RDSa.L) for alleged complicity in a military crackdown, according to a writ filed in a court in The Hague.

The Nigerian military cracked down heavily on local opposition to oil production by a Shell joint venture in the Niger Delta in the early 1990s. The four widows allege that Shell provided support to the military in the crackdown that ultimately led to the executions of the men, known as the Ogoni 9. read more

Shell, Exxon to appeal latest Groningen gas production cap

Shell, Exxon to appeal latest Groningen gas production cap

AMSTERDAM, June 28 (Reuters) – A joint venture between Royal Dutch Shell and Exxon Mobil said on Wednesday it will file an appeal against a Dutch government plan to lower a production cap at the Groningen natural gas field by a further 10 percent.

The 50-50 Exxon-Shell joint venture, known as NAM, said it has been left in an impossible position by being told it may continue production — vital to supply homes with gas — without guarantees it is meeting safety standards. It also opposes the latest, lowered production cap. read more

Shell in clean energy race

It wants to be leader in the business and establish itself across full value chain of renewables, alternative energies

Royal Dutch Shell aims to be a leader in clean energy and sees an opportunity in using its global presence and established brand to scale up the new energies business quickly as and when. PHOTO: REUTERS

ROYAL Dutch Shell aims to be a leader in clean energy and sees an opportunity in using its global presence and established brand to scale up the new energies business quickly as and when.

The second largest-publicly traded oil company in the world also plans on establishing itself across the full value chain of renewables and alternative energies as it has done for oil, said a senior executive in the firm. read more

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. read more

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. read more

Global oil price falls to nine-month low as oversupply fears mount

A number of producers – notably Iraq, Saudi Arabia and Russia – have aggressively ramped up output

Oil prices held near multi-month lows on Wednesday as investors discounted evidence of strong compliance by OPEC and non-OPEC oil producers with a deal to cut a global output.

Global benchmark Brent LCOc1 was unchanged at $46.02 barrel at 0651 GMT after falling nearly 2 per cent in the previous session to its lowest settlement since November.

US crude futures CLc1 for August were trading up 4 cents at $43.55, after spending much of the day slightly lower and falling more than 2 per cent on Tuesday to the lowest since September. read more

Shell suspends some well operations in U.S. Gulf ahead of storm

Shell on Tuesday said it had suspended some well operations in the U.S. Gulf of Mexico ahead of a potential tropical storm, but that production was currently unaffected.

The company said personnel remain offshore but flights from heliports in central Louisiana have been suspended.

(Reporting by Liz Hampton; Editing by David Gregorio)

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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. read more

Total and Shell win block in Mexico shallow water oil auction

Mon Jun 19, 2017 | 4:07pm EDT

A consortium comprising France’s Total (TOTF.PA) and Royal Dutch Shell (RDSa.L) won the 15th shallow water oil and gas block put up for auction on Monday, the Mexican oil regulator said.

Block 15 lies off the southern Gulf coast state of Campeche, and includes estimated prospective resources of up to 496 million barrels of oil over an area of 375 square miles (972 sq km).

(Reporting by Adriana Barrera)

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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. read more

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. read more

Shell Says Not Experiencing Operational Disruptions in Qatar

LONDON — Royal Dutch Shell said on Wednesday its business is not experiencing any operational disruptions in Qatar in the wake of a decision by several Gulf countries to sever ties.

“Currently we are focused on running our Qatar business as usual and are not experiencing any operational disruption as a result of the current situation,” the Anglo-Dutch company said in a statement.

(Reporting by Ron Bousso, editing by David Evans)

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