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Shell shareholders reject emissions target proposal

By Karolin Schaps | THE HAGUE

Royal Dutch Shell (RDSa.L) shareholders on Tuesday widely rejected a proposal by an environmental group calling for the oil company to set and publish annual targets to reduce carbon emissions.

The vote is a setback for climate activists who are increasing pressure on global oil companies, including U.S. firms Exxon Mobil (XOM.N) and Chevron (CVX.N), to become more ambitious in helping combat climate change.

Around 94 percent of Shell shareholders who cast a vote decided against resolution 21, according to final results reported following the company’s annual general meeting (AGM) in The Hague. Roughly 5 percent of voters abstained.

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Nigerian oil workers extend Exxon Mobil strike to Chevron, Agip and Shell

May 16 Nigerian workers from an oil labour union have extended a strike to oil majors Chevron, Shell and Eni subsidiary Agip in protest over the sacking of members from Exxon Mobil Corp, the union’s general secretary said on Tuesday.

Lumumba Okugbara, of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), said union representatives would meet Exxon Mobil management on Tuesday for talks. Members of the union began a strike at Exxon Mobil last week.

(Reporting by Anamesere Igboeroteonwu; Writing by Alexis Akwagyiram; Editing by Mark Potter)

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Shell proposes adding Russian oil to Brent benchmark

The suggestion marks a shift from two years ago when Shell said adding Urals would not be “worth the trouble”.

May 10, 2017, 05:38:00 AM EDT By Reuters

LONDON, May 10 (Reuters) – Royal Dutch Shell <RDSa.L> on Wednesday urged oil pricing agency S&P Global Platts <SPGI.N> to protect the dated Brent crude benchmark from declining North Sea supply by including other grades, such as Russian Urals, in its price-setting process.

The suggestion marks a shift from two years ago when Shell said adding Urals would not be “worth the trouble”. The benchmark, based on light North Sea crude grades, is used to price about two-thirds of the world’s oil but a decline in North Sea output has led to concerns that physical volumes could become too thin and prone to large price swings.

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Reuters: Shell testing Nigeria’s Forcados oil pipeline for restart

|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) is testing Nigeria’s Trans Forcados crude export pipeline for a potential restart, with the Astro Perseus tanker expected to load the first cargo by the weekend, Reuters reports.

Forcados had produced 200K-240K bbl/day before attacks damaged the pipeline in February 2016 and again in October.

A full resumption of Forcados could complicate matters for OPEC, which meets later this month to determine whether to extend production cuts beyond June, or potentially deepen them; Libya and Nigeria were exempt from the original cuts.

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Japanese oil refiners Idemitsu, Showa Shell sign alliance deal

Japanese oil refiners Idemitsu Kosan Co Ltd and Showa Shell Sekiyu KK said on Tuesday that they have signed a deal to form a business alliance ahead of Idemitsu’s takeover of Showa Shell.

Under the deal, the companies will cooperate more closely on crude purchases and transportation as well as production plans, they said in a statement.

The closer cooperation will result in cost savings of at least 25 billion yen (170.5 million pounds) within three years.

The companies said they will still achieve costs savings of 50 billion within five year of the full integration of the two business. The full merger has been delayed indefinitely due to opposition from Idemitsu’s founding family.

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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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Shell Convent refinery HCU restart stopped due to leak: sources

Royal Dutch Shell Plc halted the restart of the heavy oil hydrocracking unit (HCU) at its 235,000 barrel per day (bpd) Convent, Louisiana, refinery on Tuesday due to a leak, sources familiar with plant operations said.

A Shell spokesman said operations were stable on Tuesday at the Convent refinery.

The refinery began restarting the 45,000 bpd hydrocracker, called the H-Oil Unit, over the weekend. Shell was planning to return the unit to operation by the end of this week.

Shell became the sole owner of the Convent refinery on Monday when it and previous refinery co-owner Saudi Aramco divided the assets of their Motiva Enterprises LLC [MOTIV.UL]joint-venture.

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Arrow Energy wins Australian gas pipeline license, but plan on hold

MELBOURNE, May 1 (Reuters) – Arrow Energy, owned by Royal Dutch Shell <RDSa.L> and PetroChina <601857.SS>, has been granted a license to build a natural gas pipeline in Australia’s Queensland state that could contribute to easing the country’s gas supply crunch.

Queensland issued the pipeline license last Friday, a spokesman for the state’s Department of Natural Resources and Mines said on Monday.

The 420-km (260-mile) pipeline is designed to carry gas from a coal seam gas project in Queensland’sBowen Basin to the Gladstone area. There has been no final decision yet on the pipeline because the coal seam project has not been developed.

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Bar, business groups back Cravath on fighting disclosure of Shell documents

By Jan Wolfe

The New York City Bar Association has joined the U.S. Chamber of Commerce in backing law firm Cravath Swaine & Moore in its appeal of an order to turn over documents belonging to client Royal Dutch Shell plc in a possible overseas lawsuit accusing the oil giant of facilitating human rights violations.

The New York City Bar Association filed an amicus brief in support of Cravath on Tuesday in the U.S. 2nd Circuit Court of Appeals, urging the court to reverse a ruling that the law firm produce Shell documents to Esther Kiobel, a Nigerian woman seeking to sue Shell in the Netherlands after she was previously blocked from doing so in the U.S.

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Shell says Motiva assets still set to be divided May 1

Shell Oil Co, the U.S. arm of Royal Dutch Shell Plc, on Thursday reaffirmed the target date to split up the Motiva Enterprises [MOTIV.UL] refining joint venture with co-owner Saudi Aramco [IPO-ARMO.SE] would be May 1.

Shell and Saudi Aramco in March 2016 announced the plan to divide up the nearly 20-year-old venture, which runs three refineries and other assets. The date of the split has been pushed back twice since the announcement.

As part of the deal, Saudi Aramco will make a $2.2 billion balancing payment to Shell. Of that total, Aramco will only have to pay about $700 million in cash to Shell, with the remainder satisfied by Aramco assuming most of Shell’s half of the $3.2 billion debt held by Motiva.

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Shell opens treatment plant in Argentina shale play

Royal Dutch Shell PLC inaugurated on Tuesday a treatment plant for shale oil and gas in Argentina’s Vaca Muerta shale play, one of the world’s largest.

The plant, announced in 2014, has a capacity to process up to 10,000 barrels per day from the Sierras Blancas, Cruz de Lorena and Coiron Amargo Sur Oeste blocks operated by Shell, the company said in a statement.

“(The plant) receives output from the wells of these blocks, processing the oil and gas to leave it ready for commercialization,” the statement said.

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Shell says Nigerian oil theft volume fell nearly 80 pct in 2016

Reuters | Apr 12, 2017, 04.10 PM IST

April 12 (Reuters) – ** Shell said the volume of oil stolen from its joint-venture operations in Nigeria fell to 5,600 barrels of oil per day (bpd) in 2016, the company said in its annual sustainability report

** This represents a 77.6-percent fall from 25,000 bpd in oil thefts in 2015 partly due to better air and ground surveillance and anti-theft mechanisms installed on equipment

** Shell said its Nigerian subsidiary Shell Petroleum Development Company (SPDC) had removed more than 880 theft points since 2012

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Shell says it knew some payments for Nigeria oilfield would go to Malabu

By Libby George | LONDON: Royal Dutch Shell (RDSa.L) has said it knew that some of the payments it made to Nigeria for the rights to an oilfield would go to Malabu Oil and Gas, a company associated with a former Nigerian oil minister and convicted money launderer.

Shell spokesman Andy Norman said the group had known the Nigerian government “would compensate Malabu to settle its claim on the block”. Shell previously had said only that its payments from the 2011 deal went to the Nigerian government.

In an email to Reuters, Norman said that while Shell knew that former oil minister Dan Etete was “involved” with Malabu, it had not confirmed that he controlled the company.

Etete was convicted of money laundering in a separate case in France in 2007.

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Shell switches New Zealand holdings ahead of possible divestment

By Charlotte Greenfield | WELLINGTON

Royal Dutch Shell (RDSa.L) sold its stake in a New Zealand gas field while taking over the field’s operating company as part of a plan to possibly divest its holdings in the country later on, the company said Thursday.

Shell has sold its 50 percent stake in the Kapuni Gas Field, New Zealand’s second-largest, for an undisclosed price and has increased its holding to 100 percent in the joint venture that operates the field, Shell Todd Oil Services (STOS), it said in a statement.

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Shell to fuel world’s first LNG-powered Aframax oil tankers

Published April 5, 2017, 10:01 PM

By Reuters 

Dubai – A unit of Royal Dutch Shell will fuel the world’s first LNG-powered Aframax crude oil tankers under a deal signed with Russian shipping company SCF Group (Sovcomflot).

Shippers are looking to liquefied natural gas (LNG) to help them meet stricter emissions regulations in 2020.

Oil tankers are “another marine segment embracing the benefits of LNG fuel,” Maarten Wetselaar, Shell’s integrated gas and new energies director, said in an announcement released on Monday.

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LNG producers turn to trading, risk taking to maintain market share

* Large volume, long-term contracts now “more difficult” -Shell

* JERA, Total sign deal with flexible volumes, spot prices

* Woodside, Shell see big opportunity in small-scale LNG

By Osamu Tsukimori

CHIBA, Japan, April 5 Producers of liquefied natural gas (LNG), having shot themselves in the foot with oversupply, and facing calls for flexibility and greater competition from other fuels are taking on more risk and learning to trade, just like any other commodities dealers.

That’s a big change for a market long dominated by large producers such as Royal Dutch Shell and BP which provide major importers with fixed volumes under multi-decade contracts linked to the price of oil.

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Shell’s Wetselaar says LNG contract destination clauses “not really crucial”

CHIBA, April 4 (Reuters) – Royal Dutch Shell’s integrated gas and new energies director, Maarten Wetselaar, said on Tuesday that destination clauses in long-term liquefied natural gas (LNG) supply contracts that have linked suppliers and customers for decades are “not really crucial”. “They’re not really crucial in contracts anyway, once you’ve delivered LNG into a tank, it is quite expensive to get it out again and ship it to someone else,” Wetselaar said, speaking on the sidelines of a gas conference in Chiba, Japan.

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Shell shuts Bonny Light oil export line to remove theft points

By ReutersPUBLISHED: 12:13, 31 March 2017 | UPDATED: 13:58, 31 March 2017

LONDON, March 31 (Reuters) – The Nigerian subsidiary of Royal Dutch Shell Plc said it had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil, in order to remove theft points.

The managing director of Shell Petroleum Development Company (SPDC) said the company was working to “remove a significant number of oil theft connections and repair any leaks on the pipeline.”

The line, operated by Aiteo, is one of two along with the Trans Niger Pipeline that carries Bonny Light crude oil to the export terminal. Exports of roughly 232,000 barrels per day (bpd) were planned in April, according to loading programmes, but it was not immediately clear how much of this would be impacted by the pipeline shutdown.

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Shell plans to double Hazira LNG plant capacity – India head

By REUTERSPUBLISHED: 13:13, 31 March 2017

By Arathy S Nair and Tanvi Mehta

March 31 (Reuters) – Royal Dutch Shell Plc plans to double the capacity of its liquefied natural gas import facility at Hazira on India’s west coast to 10 million tonnes a year, a top company executive said on Friday.

Shell Gas B.V, a unit of Royal Dutch Shell Plc, owns a 74 percent stake in Hazira LNG Ltd, while Total Gaz Electricite France, a unit of France’s Total SA, holds the rest.

“We’ve done all the work, now it’s sort of taking a look at when is the right timing in terms of demand that’s available,” Nitin Prasad, chairman of Shell Companies in India, told Reuters, without giving a timeline for the expansion.

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Shell and Anadarko mull clean break from Permian venture -executive

By REUTERSPUBLISHED: 06:03, 27 March 2017

By Ron Bousso and Ernest Scheyder

LONDON/HOUSTON, March 27 (Reuters) – Royal Dutch Shell Plc and Anadarko Petroleum Corp may let a 10-year joint venture in the oil-rich Permian Basin of Texas expire and split their properties, hoping to speed up development, according to a senior Shell executive.

The divorce and re-parceling of acreage would let each company drill and develop new wells at its own pace in the Permian, which has become the U.S. oil industry’s hottest development area for its low operating costs as crude prices hover under $50 per barrel.

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Shell sells onshore Gabon oil assets to Carlyle for $587 mln

By REUTERSPUBLISHED: 10:08, 24 March 2017

By Ron Bousso

LONDON, March 24 (Reuters) – Carlyle Group has bought Royal Dutch Shell’s onshore assets in Gabon for $587 million as the world’s largest private equity fund expands in the global oil and gas sector.

For Shell, the deal marks a further step in a $30 billion asset disposal programme to help cut debt after its $54 billion acquisition of BG Group last year. The Anglo-Dutch oil company has sold assets for more than $15 billion since 2016.

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Shell gets access to oil hub in Panama: sources

By Elida Moreno and Marianna Parraga | PANAMA CITY/SAN ANTONIO

Royal Dutch Shell agreed to lease capacity at a large oil terminal in Panama that has been used by U.S. refiner Tesoro Corp, sources involved in the deal told Reuters, gaining much-needed storage for its crude operations.

The facility, designed for storage and transshipment of oil, is owned by Petroterminal de Panama and provides up to 14 million barrels of storage capacity, a pipeline network that connects the Atlantic and Pacific oceans, and docks for very large tankers.

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Shell to drill new wells by end-2018 to shore up Australia gas supply

Royal Dutch Shell said on Tuesday it will drill 161 new gas wells at its Queensland operations by the end of 2018, helping to underpin its promise to continue supplying 10 percent of the domestic gas market to help prevent a shortage.

The project at its QGC operations in the Surat Basin in southeast Queensland has been planned for some time as existing wells decline, with the new wells due to be drilled this year and next. The wells will help sustain Shell’s 75 petajoules of gas supplies a year to eastern Australia’s gas market.

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Fire extinguished at Motiva Convent refinery; no injuries

Saturday, March 18, 2017 9:26 p.m. EDT

HOUSTON (Reuters) – A fire was extinguished at Motiva Enterprises’ 235,000 barrel per day (bpd) Convent, Louisiana, refinery on Saturday with no injuries, a company spokeswoman said in a statement.

Two sources familiar with plant operations said the fire broke out shortly before noon on the 45,000 bpd heavy oil hydrocracker, called the H-Oil Unit, which was being restarted to full production for the first time since a fire last August.

Motiva’s spokeswoman, Angela Goodwin, did not identify the unit involved in the fire.

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Nigerian court overturns seizure of oilfield from Shell and Eni

Nigerian court overturns seizure of oilfield from Shell and Eni

By ReutersPUBLISHED: 09:48, 17 March 2017 | UPDATED: 10:18, 17 March 2017

ABUJA, March 17 (Reuters) – A Nigerian court on Friday overturned a request by Nigeria’s financial crimes agency to seize an oilfield from Royal Dutch Shell and Eni.

In January, a court had ordered the seizure of the OPL 245 oil block and transfer of operations to the federal government on the request of the Economic and Financial Crimes Commission (EFCC).

Oil companies Shell and Eni had filed motions to dispute this.

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Australia hauls in gas majors to avert local shortage

By Sonali Paul | SYDNEY

Australia’s top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, agreed to boost supply to the country’s domestic market to help avert an energy shortage following crisis talks with Prime Minister Malcolm Turnbull.

Australia is on track to become the world’s largest exporter of liquified natural gas (LNG), yet its energy market operator has warned of a domestic gas crunch from 2019 that could trigger industry supply cuts and broad power outages.

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Nigerian court adjourns Shell, ENI dispute until March 17

By Camillus Eboh

ABUJA, March 13 (Reuters) – A Nigerian court case in which Royal Dutch Shell and Italy’s Eni are seeking to have a government seizure of a long-disputed oilfield lifted has been adjourned until March 17, a judge said on Monday.

The court in January ordered the temporary seizing of assets and the transfer of operations of the OPL 245 field owned by Shell and Eni, among others, to the federal government on request of the EFCC financial crime agency.

The inquiry is investigating whether the $1.3 billion purchase of OPL 245 involved “acts of conspiracy, bribery, official corruption and money laundering”, court papers seen by Reuters in January showed.

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Shell updates Brent oil trading terms to add Troll to benchmark

Royal Dutch Shell (RDSa.L) has updated the terms which govern Brent oil trade to allow for the addition of a fifth crude oil grade into the basket used to assess the global oil benchmark.

Oil pricing agency S&P Global Platts (SPGI.N) plans to add Norway’s Troll crude to the four already used to assess Brent from January 2018. This will join Brent, Forties, Oseberg and Ekofisk, or BFOE as they are known.

With effect from Friday, Shell updated its “SUKO 90” terms and conditions on its website to add Troll to the existing four crudes, and so bring them into line with the plans of Platts.

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Despite sanctions relief, Shell still cool on Iranian oil buys

By Dmitry Zhdannikov | LONDON

Royal Dutch Shell has bought only three cargoes of Iranian oil since sanctions were eased a year ago, a small fraction of what it used to buy and an indication of the legal difficulties and high prices that still hamper the trade.

The Anglo-Dutch firm did not give a reason for the drop in purchases, which were disclosed in its annual report, and the company declined to comment further.

But oil trading sources say Iranian oil is often too expensive and in any case remaining sanctions make dealing with the Islamic Republic a legal minefield.

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Shell’s CEO Van Beurden total pay jumps in 2016

Royal Dutch Shell (RDSa.L) said on Thursday its chief executive Ben Van Beurden saw his total pay jump 60 percent in 2016 to 8.263 million euros from 5.135 million a year earlier mainly due to deferred bonuses and share plans.

Van Beurden’s salary was little changed at 1.460 million euros and his bonus fell to 2.4 million euros from 3.5 million, however, from the company’s long-term incentive plan and deferred bonuses he received 4.381 million euros, up from 163,000 a year earlier.

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Shell accelerates plan to boost U.S. shale output -exec

* Shell to boost shale output by 140,000 bpoed by 2020

* Shell shale output profitable at average oil price $40/bbl

* Argentina shale development decision in 18 months

By Ron Bousso and Ernest Scheyder HOUSTON, March 7 (Reuters) – Royal Dutch Shell is ramping its North American shale output earlier than planned to lock in quick returns from what has become one of its most profitable businesses, the head of Shell’s unconventional energy business said. The Anglo-Dutch company plans to make shale oil and gas in the United States, Canada and Argentina a key engine of growth in the next decade, targeting output of around 500,000 barrels of oil equivalent per day (boepd), Greg Guidry told Reuters in an interview.

A drive to cut the cost of producing oil and gas from U.S. shale deposits has proven so effective that Shell has accelerated development plans, Guidry said on the sidelines of the CERAWeek industry conference in Houston.

It aims to boost output by 140,000 boepd over the next three years in the Permian basin in West Texas and the Duvernay region in Canada, said Guidry, an executive vice president.

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Nigeria files new charges against Shell, Eni, others over 2011 oilfield purchase – court documents

Nigeria’s financial crime watchdog has filed new corruption charges against Royal Dutch Shell PLC, Eni SpA and others regarding the $1.3 billion purchase of a long-disputed oilfield in 2011, according to court documents released on Thursday.

The charges of conspiracy to commit a felony and official corruption were made after an investigation by Nigeria’s Economic and Financial Crimes Commission (EFCC) found new evidence, Jonson Ojogbane, an EFCC senior prosecutor named in the documents, told Reuters by telephone.

Shell and Eni did not immediately respond to requests for comment.

The case is the latest of several inquiries, following those by Dutch and Italian authorities, into the 2011 purchase of Nigerian oil prospecting licence OPL 245 block, which could hold up to 9.23 billion barrels of oil, according to industry figures.

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Nigerian court to rule on March 13 on Shell, ENI dispute with authorities

“acts of conspiracy, bribery, official corruption and money laundering.”

By Camillus Eboh | ABUJA

Feb 27 A Nigerian court will rule on March 13 on a request by Royal Dutch Shell and Italy’s Eni to lift the temporary seizing of a long-disputed oilfield, a judge said on Monday.

The court last month ordered the temporary seizing of assets and the transfer of operations of the OPL 245 field owned by Shell and Eni, among others, to the federal government on request of the country’s financial crime agency EFCC.

The case is the latest of several inquiries, following those by Dutch and Italian authorities, into the 2011 purchase of the OPL 245 block, which could hold up to 9.23 billion barrels of oil, according to industry figures.

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YPF, Shell sign deal for Vaca Muerta pilot project

Argentina’s state-run oil company YPF SA said it reached a preliminary deal with Royal Dutch Shell Plc on Thursday to develop oil and gas assets in the Vaca Muerta shale field, involving a $300 million investment from Shell.

Both companies will take a 50 percent stake in the Bajada de Añelo field to develop a pilot program, which will be operated by Shell, YPF said in a statement. The agreement is subject to approval by provincial authorities, and Shell’s investment will come in two phases, YPF said.

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Shell says new LNG buyers want shorter, smaller contracts

Shell says new LNG buyers want shorter, smaller contracts

By Reuters20 February 2017

LONDON, Feb 20 (Reuters) – Royal Dutch Shell, the world’s biggest liquefied natural gas (LNG) trader following its takeover of BG Group last year, said new LNG customers that will drive demand are looking for shorter and smaller contracts.

Shell expects much of new LNG demand to come from countries that want to replace declining domestic gas production — which has already happened in Egypt and Pakistan — and those countries that are looking at LNG to complement pipeline and domestically produced gas, like China or Morocco.

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

February 17, 2017

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

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

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Shell says receives indictment request in Nigeria oilfield dispute

Royal Dutch Shell (RDSa.L) said it received notice on Tuesday of a request for indictment related to a 2011 settlement of long-standing disputes over an offshore block in Nigeria (OPL 245) .

The tribunal of Milan has fixed the preliminary hearing for 20 April 2017, the company said in a statement. “We don’t believe a request for indictment is justified and we are confident that this will be determined in the next stages of the proceedings. We continue to take this matter seriously and co-operate with the authorities,” Shell added. Shell and Eni on Tuesday said they have asked a Nigerian court to lift a temporary forfeiture of assets and the transfer of operations of the OPL 245 field owned by Shell and Italy’s Eni (ENI.MI), among others, to the federal government.

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Rio Tinto recruits three energy executives to board

Euronews/Reuters: Rio Tinto recruits three energy executives to board, including Simon Henry

By Karolin Schaps: REUTERS 10/02/201

LONDON (Reuters) – Rio Tinto has appointed three former senior managers from the energy industry to its board as non-executive directors, including Shell’s departing CFO Simon Henry, the mining company said on Friday.

Henry, who is stepping down as Chief Financial Officer at Shell after seven years on March 9, will join Rio Tinto on July 1. Former Centrica chief executive Sam Laidlaw and ex-Sasol CEO David Constable will take up their non-executive posts immediately, Rio Tinto said.

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Italy prosecutors ask Eni CEO to be sent to trial over Nigeria – sources

REUTERS: Italy prosecutors ask Eni CEO to be sent to trial over Nigeria – sources

Wed Feb 8, 2017 | 6:36pm GMT

Italian prosecutors have asked for the CEO of state-controlled oil major Eni (ENI.MI), Claudio Descalzi, to stand trial over alleged corruption in Nigeria, judicial sources said on Wednesday.

The prosecutors also asked for 10 other people, including former Eni CEO Paolo Scaroni, to be sent for trial along with the Eni and Royal Dutch Shell (RDSa.L) companies, the sources said.

Scaroni was not immediately available for comment. No comment was immediately available from Shell.

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Shell expects to split Motiva assets with Saudi Aramco in Q2

Mon Feb 6, 2017

HOUSTON Shell Oil Co, the U.S. unit of Royal Dutch Shell Plc, said on Monday it expects to divide the refineries and other assets of the Motiva Enterprises [MOTIV.UL] joint venture with co-owner Saudi Aramco in the second quarter of 2017.

“We are pleased with the progress we have made to date, and anticipate completion of the transaction in Q2 2017,” Shell spokesman Ray Fisher said in an email. “The April 1 date is a target that the internal project teams are working toward.”

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Shell looking to sell stake in Danish venture

By Ron Bousso and Clara Denina | LONDON

Royal Dutch Shell is seeking to sell its stake in the Danish Underground Consortium (DUC), an offshore oil and gas joint venture, in what would mark the company’s effective exit from Denmark, three banking sources said.

The stake is valued at up to $1 billion, according to two sources.

Bank of America Merrill Lynch (BAML) is running the sale process, the sources said.

Shell owns a 36.8 percent stake in DUC alongside operator A.P. Moller-Maersk, which has 31.2 percent, Chevron which holds 12 percent, and Danish state-run Nordsøfonden which has a 20 percent stake.

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Shell nears deals to sell $5 bln of assets -CFO

By Karolin Schaps and Ron Bousso | LONDON

Royal Dutch Shell (RDSa.L) is close to selling assets totaling $5 billion to cut debt following its acquisition of BG Group, the oil major said on Thursday as it reported its lowest full-year earnings in more than a decade.

Dealmaking in the oil and gas sector has been muted for more than two years due to collapsing oil prices, but as crude prices recover buyers and sellers are starting to agree on price tags.

For Shell, disposals of $3 billion in the fourth quarter helped shave $4.5 billion off its net debt and increase cashflow by 8 percent in the last three months of the year, Europe’s largest oil and gas company said.

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Shell sells Thailand gas field stake to Kuwait’s Kufpec for $900 million

Royal Dutch Shell (RDSa.L) said on Tuesday it would sell its stake in Thailand’s Bongkot gas field to Kuwait Foreign Petroleum Exploration Company for $900 million (719.5 million pounds).

The move is the latest stage of the Anglo-Dutch company’s push to reduce debt after buying smaller rival BG Group for $70 billion, bringing its total divestments since April 2015 to 8.7 billion.

The transaction will include Shell’s 22.2-percent equity stake in the Bongkot field and adjoining acreage off the coast of Thailand consisting of Blocks 15, 16 and 17 and Block G12/48, Shell said in a statement.

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Shell to sell North Sea assets to Chrysaor for $3.8 billion

By Ron Bousso | LONDON

Royal Dutch Shell (RDSa.L) has agreed to sell a package of oil and gas fields to private equity-backed Chrysaor for $3.8 billion, giving the Anglo-Dutch group a major boost in its drive to reduce debt following the acquisition of BG Group.

The deal, which accounts for more than half of Shell’s production in the North Sea, will breathe new life into the ageing North Sea where production has steadily declined since the late 1990s and where oil majors such as Shell and BP have struggled to generate profits.

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Shell set to sell $3 billion North Sea assets to Chrysaor

By Ron Bousso and Clara Denina | LONDON

Royal Dutch Shell (RDSa.L) is nearing the sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor for $3 billion, banking sources said, marking a milestone in its drive to reduce debt after buying BG Group.

Chrysaor, a North Sea-focused oil company backed by private equity fund EIG Partners, will acquire from Shell a mix of older fields, new developments and infrastructure in a move analysts say could breathe new life into one of the world’s oldest offshore basins where production has been in a steady decline since the late 1990s.

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Nigeria court orders temporary transfer of Shell, Eni oilfield

Fri Jan 27, 2017 7:18am GMT

ABUJA (Reuters) – A Nigerian court has ordered the temporary forfeiture of assets and the transfer of operations of a long-disputed oilfield owned by Shell and Eni, among others, to the federal government, court papers released on Thursday showed.

The court orders will last until Nigeria’s anti-corruption agency concludes an investigation into how the current owners acquired oil prospecting licence (OPL) 245, the papers said.

This is the latest of many inquiries, including by Dutch and Italian authorities, into the 2011 purchase of the OPL 245 block which could hold up to 9.23 billion barrels of oil, according to industry figures.

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Court rules villagers cannot sue Shell in London over Nigerian oil spill

By Karolin Schaps | LONDON

Oil major Royal Dutch Shell cannot be sued in London courts over Nigerian oil spill allegations, the High Court ruled on Thursday, dealing a setback to attempts to hold multinationals liable at home for subsidiaries’ activities.

If the High Court had ruled in favor of the two groups, other claimants against British-based multinationals could have been emboldened to pursue legal action through the British courts, some legal experts had said.

Villagers from the Bille and Ogale communities in Nigeria’s oil-rich Delta region were trying to pursue oil spill allegations against the company’s Nigerian subsidiary Shell Petroleum Development Company of Nigeria (SPDC) in British courts.

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Shell Prelude LNG over-promise and under-delivery

Extracts from a Reuters/Nasdaq article Australia’s Ichthys LNG dealt blow as major contractor pulls plug”  dated 25 Jan 2017.

Australia’s$200 billion LNG production ramp-up is one of the biggest increases in supply the industry has ever seen, and it will lift Australia over Qatar as the world’s biggest exporter of the fuel.

Even so, most of Australia’s LNG projects currently under construction, including Chevron’s huge Gorgon facility and Royal Dutch Shell’s floating Prelude production vessel, are having trouble keeping within budget and sticking to schedules, and more delays are expected.

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Shell, Phillips 66 buy 6.4 mln bbls of oil from U.S. emergency reserve

Oil companies Shell and Phillips 66 together bought 6.4 million barrels of oil last week from the Strategic Petroleum Reserve (SPR), according to a Department of Energy document released on Tuesday.

Shell bought 6.2 million barrels of oil and Phillips 66 bought 200,000 barrels on Jan. 18, said the department document, seen by Reuters.

The federal government held the sale to fund a revamp of the emergency oil stash, which is stored in salt caverns in Louisiana and Texas along the Gulf Coast. The Department of Energy had said it would sell up to 8 million barrels as part of its modernization program.

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Shell Exploration Boss To Step Down

January 23, 2017

LONDON (Reuters) – Royal Dutch Shell’s head of exploration Ceri Powell will step down next month, capping three years in office marked by sharp cutbacks in the company’s search for new oil and gas reserves amid the industry’s deep downturn since mid-2014.

Powell, a geologist who joined Shell in 1990, will depart on February 13 and become managing director of Brunei Shell Petroleum the following month, according to a Shell spokeswoman.

Powell will be replaced by upstream strategy vice president Marc Gerrits, who started his career in Shell in 1986 as an exploration geologist in Australia.

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