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Gas producer NAM sees no need for further measures at Groningen field

Reuters Staff: 19 FEB 2018

AMSTERDAM, Feb 19 (Reuters) – Dutch gas company NAM on Monday said it sees no need for further measures at the Groningen field after a recent series of relatively small earthquakes in the region.

The Dutch gas sector regulator last week ordered a new review of production at the field in the north of the Netherlands, after three tremors with magnitudes of 1.7 to 2.2 between Feb. 8 and Feb. 11. 

After a 3.4 earthquake in January the Dutch government already said it would cut Groningen production by 44 percent as quickly as possible, while ordering the immediate shutdown of five production points in the earthquake-prone field. read more

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In the deepwater versus shale oil contest, Shell backs both

Ron Bousso, Dmitry Zhdannikov: FEBRUARY 20,2018 LONDON (Reuters) – Royal Dutch Shell (RDSa.L) will expand deepwater output and turn a profit from its shale production in coming years as both together will help the oil major cope with a world of low crude prices, the head of its oil and gas production said on Tuesday.

Shell’s deepwater production in Brazil, Nigeria, the Gulf of Mexico is much bigger and more profitable, but the firm sees the nimble, fast-returns U.S. onshore shale as an engine for growth.

“We can see strong (shale) production growth, strong cash surpluses that gives us a balance in our portfolio where you can ramp investment up and down, you can moderate that, very unlike deepwater which is quite chunky,” Andy Brown told Reuters in an interview on the sidelines of the IP Week conference. read more

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Shell names Jacek Dziembaj head of oil products trading -memo

Reuters Staff: FEBRUARY 19, 2018

* Royal Dutch Shell has appointed Jacek Dziembaj as head of oil products trading and supply, according to an internal announcement seen by Reuters.

* Dziembaj will be based in London and assume his new role from April 9.

* Dziembaj’s appointment follows the naming in December of Mark Quartermain as head of crude oil trading at the Anglo-Dutch company.

* Dziembaj has 26 years of experience in Shell, including working in the retail and lubricants businesses and most recently as vice president retail Europe/South Africa. read more

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Global dividends hit record of $1.25 trillion in 2017, more to come

Royal Dutch Shell kept its position as the world’s biggest dividend payer

Danilo Mason: FEBRUARY 19, 2018

MILAN (Reuters) – Global dividends rose 7.7 percent to an all-time high of $1.25 trillion (1 trillion euros) last year boosted by a buoyant world economy and rising corporate confidence, Janus Henderson (JHG.N) said on Monday, predicting another record year ahead.

The surge – the strongest since 2014 – was driven by increases in every region and almost every industry with record showings in 11 countries including the United States, Japan, Switzerland, Hong Kong, Taiwan and the Netherlands, the investment manager added. read more

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Nigerian court sets Malabu oilfield corruption case hearing for June 18

ABUJA, Feb 15 (Reuters) – A Nigerian court has set a hearing over a disputed 2011 oilfield deal for June 18, the country’s financial crimes watchdog said on Thursday, part of a string of international corruption probes into the purchase.

The case relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011.

At the core of the case is a $1.3 billion payment from Shell and Eni to secure the block from Malabu Oil and Gas, allegedly controlled by former Nigerian oil minister Dan Etete. read more

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Hail shale, but deepwater oil fights back

Ron Bousso: 14 FEB 2018

LONDON (Reuters) – Penguins, Royal Dutch Shell’s (RDSa.L) latest oil and gas development in a remote corner of the British North Sea, epitomizes the new doctrine for deepwater projects — keep it cheap and simple.

Shunned during the oil price crash of 2014-2016, deepwater projects are being embraced again, a challenge to the surge in onshore U.S. shale output.

Penguins, the first new major deepwater project this year, will rejuvenate the 44-year-old field by drilling 8 new wells 165 meters (541 feet) underwater and connecting them to a new production vessel. read more

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Appeal court rules Nigerians cannot pursue Shell spill claim in England

Libby GeorgeTife Owolabi: 14 FEB 2018 LONDON/YENAGOA, Nigeria (Reuters) – The Court of Appeal in London ruled on Wednesday that two Nigerian communities cannot pursue Royal Dutch Shell in English courts over oil spills in Nigeria’s Delta region.

The split decision upheld a High Court ruling last year that was a setback to attempts to hold British multinationals liable at home for their subsidiaries’ actions abroad.

The court rejected the appeal from law firm Leigh Day on behalf of Nigeria’s Bille and Ogale communities, and upheld a ruling that English courts do not have jurisdiction over claims against Shell’s Nigerian subsidiary Shell Petroleum Development Company (SPDC).

SPDC is jointly operated with the Nigerian government. read more

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Shell settles state, U.S. clean air violations at Louisiana plant

Reuters Staff: 12 FEB 2018

WASHINGTON (Reuters) – Royal Dutch Shell Plc’s Shell Chemical LP will install a $10 million pollution monitoring and control system at its Norco, Louisiana, chemical plant as part of a settlement over allegations it violated the Clean Air Act, the U.S. Department of Justice said on Monday.

In a statement, the department said Shell Chemical would also pay $350,000 in civil penalties as part of the consent decree. 

Writing by Susan Heavey; Editing by Jeffrey Benkoe read more

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Big Oil takes stage for post-austerity beauty contest

Ron Bousso: 12 FEB 2018

LONDON (Reuters) – With years of austerity in their rear-view mirrors, the world’s biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards.

Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil, the biggest publicly traded oil company, has largely disappointed with a weaker outlook.

Major oil companies slashed spending and cut costs after oil prices collapsed in 2014 and can now generate as much cash with crude at $50-$55 a barrel as they did when the price was around $100 earlier in the decade. read more

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Royal Dutch Shell: Q4 Earnings Results Show Reasons For Caution

8 FEB 2018

Summary

Analysts and the financial media were very excited about Royal Dutch Shell’s Q4 2017 results, but there is a lot to be concerned about here.

The company divested more than 250kboe/day in producing assets, which juiced its net income but hurt total production.

The company’s three-year RRR is only 78% with an 8.9-year reserve life. This needs to be corrected quickly if the company is to survive.

Royal Dutch Shell failed to generate sufficient cash to pay its shareholder distributions over the past few years but finally appears to have corrected this problem. read more

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Exclusive: Dutch energy firm Eneco’s shareholders seek sale to rival – sources

Power-generating windmill turbines are seen at the Eneco Luchterduinen offshore wind farm near Amsterdam, Netherlands September 26, 2017. REUTERS/Yves Herman

Clara DeninaToby SterlingDasha Afanasieva: 8 FEB 2018 LONDON/AMSTERDAM (Reuters) – The owners of Dutch energy firm Eneco oppose a stock market listing and instead want to pursue a private sale of the company to another industry player in coming months, according to two banking sources close to the matter.

Eneco’s shareholders, 53 municipal governments, voted in October to privatize the company. They have not said whether they favored an IPO of part of the firm or an outright sale that would allow them to completely exit a business which was forced to split off its lucrative grid operations last year.

The sources, who estimated Eneco was worth up to 4 billion euros ($4.9 billion), said the owners had decided on the latter option and wanted the sale process to be launched by the summer. read more

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North Sea Forties oil pipeline ramps up slowly after latest outage – sources

Royal Dutch Shell’s Shearwater platform was closed as of Thursday morning and expected to restart later in the day, a company spokesman said.

Reuters Staff: 8 FEB 2018

* Buzzard oilfield restarts, pumping below full rate-source

* Forties has temporary flow restriction-sources

* North Sea “becoming more like Libya”, says trader (Adds details on fields restarting, flow restriction, quotes)

By Alex Lawler and Amanda Cooper

LONDON, Feb 8 (Reuters) – Oil and natural gas flows along Britain’s biggest and most important oil pipeline, Forties, were ramping up slowly on Thursday as the system restarts after its second unplanned outage in two months, industry sources said. read more

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Shell Russian exec says impact of Western sanctions was minimal

Reuters Staff: FEBRUARY 7, 2018

ORZHOK, Russia, Feb 7 (Reuters) – International oil major Royal Dutch Shell’s Russian business felt minimal impact from Western sanctions on Russia, the branch’s head Sergey Starodubtsev said on Wednesday, adding the firm was fully compliant with international law.

Shell Neft, the Russian arm of the global oil company, plans to double the number of petrol stations in Russia, currently at 259, in the next four to five years, and sees fuel sales rising 8 percent to 12 percent this year, Vitaly Maslov, head of Shell’s Russian retail business, told reporters. read more

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Production of Nigeria’s Bonga oil ramping up after shutdown -Shell Nigeria

Reuters Staff: LONDON, Feb 5 (Reuters) –

* Production of Nigeria’s Bonga crude oil is “being ramped up gradually” after brief shutdown, a spokesman for Shell Nigeria Exploration and Production company (SNEPCo) said on Monday

* The company performed a “brief shutdown” from Jan. 16-28 for repairs on a piping system. It added that “further checks and ancillary repairs” mean that oil and gas production were gradually ramping up

* Traders told Reuters the maintenance had impacted oil loadings, and a list of vessel loadings showed the last cargo to load was the suezmax Sea Garnet on Jan. 17. The Narmada Spirit is expected to load early this week, according to loading plans seen by Reuters read more

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Shell poised to dethrone Exxon in oil titans’ cash clash

Ron Bousso: 1 FEB 2018 LONDON (Reuters) – Royal Dutch Shell could usurp its largest rival Exxon Mobil as the energy sector’s biggest cash generator after higher oil and gas prices combined with an improved performance lifted its 2017 revenue.Chief Executive Ben van Beurden has made no secret of his desire to challenge the dominance of the world’s largest listed oil company after its $54 billion purchase of BG Group in 2016 catapulted Shell into second place in terms of production.

The Anglo-Dutch company on Thursday reported a more than doubling of profit in 2017 to $16 billion, the highest since the start of the 2014 downturn as the effect of years of costs cuts and the integration of BG Group filtered through.

“We enter 2018 with continued discipline and confidence, committed to the delivery of strong returns and cash,” van Beurden said in a statement.

Shell’s shares were 1.1 percent lower at 0842 GMT, compared with a slightly positive open for the FTSE 100 index. read more

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Shell ahead in Mexico oil auction, wins five blocks

Adriana Barrera, Marianna Parraga JANUARY 31, 2018 / 3:31 PM

MEXICO CITY (Reuters) – Royal Dutch Shell (RDSa.L) won five of the first eight oil and gas blocks awarded in Mexico’s prized deep waters in the Gulf of Mexico, making the early running in the country’s biggest auction since the energy sector was opened to international oil firms.

The stakes are high for Mexican President Enrique Pena Nieto and his ruling party, which is keen to showcase the results of the liberalization ahead of a presidential election in July. read more

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Shell says to sell its stake in Thai Bongkot fields to PTTEP for $750 million

Chayut SetboonsarngFlorence Tan: 31 JAN 2018

BANGKOK/SINGAPORE (Reuters) – Royal Dutch Shell said on Wednesday that it will sell its stake in the Bongkot gas field and adjoining acreage offshore Thailand to PTT Exploration & Production PCL for $750 million before tax.

The deal with PTTEP comes after Shell in October canceled a $900 million agreement to sell the same gas field stakes to Kuwait Foreign Petroleum Exploration Company (KUFPEC).

“The two deal values are not comparable and we will not comment further on any commercial terms,” a Shell spokeswoman said in an e-mail when asked about the discrepancy between the price tags in the two sale accords. read more

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Dutch could cut Groningen gas output by a fifth- analysts

Reuters Staff: JANUARY 30, 2018 / 3:58 PM

* The Netherlands is most gas-reliant EU nation

* Groningen gas output already 60 pct below 2013 peak

* Government to cut production as much as possible

* Falling export obligations ease demand pressure

By Bart H. Meijer

AMSTERDAM, Jan 30 (Reuters) – The Netherlands can cut gas output from the Groningen field by roughly a fifth after this month’s tremors but it will need to fill some of the gap with increased imports to meet domestic needs and honour its export contracts, analysts say. read more

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Why Canada is the next frontier for shale oil

FILE PHOTO: Four rigs drill at the Super Pad in Seven Generations Energy’s Kakwa River Project in northwest Alberta, Canada in a photo provided January 19, 2018. Seven Generations Energy Ltd/Handout via REUTERS

Nia Williams: 29 JAN 2018

CALGARY, Alberta (Reuters) – The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oil sands.

Now Canada is looking to its own shale fields to repair the economic damage.

Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations, which they say could rival the most prolific U.S. shale fields.

Canada is the first country outside the United States to see large-scale development of shale resources, which already account for 8 percent of total Canadian oil output. China, Russia and Argentina also have ample shale reserves but have yet to overcome the obstacles to full commercial development. read more

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Shell buying spree cranks up race for clean energy

 

People take pictures of a high-efficiency petrol-burning concept car as it is unveiled by Royal Dutch Shell during a ceremony in Beijing, China April 22, 2016. REUTERS/Damir Sagolj

Ron Bousso, Clara Denina: JANUARY 26, 2018

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) has spent over $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its carbon footprint.

The scale of the buying spree pales in comparison to the Anglo-Dutch company’s $25 billion annual spending budget. But its first forays into the solar and retail power sectors for many years shows a growing urgency to develop cleaner energy businesses. read more

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Dutch gas regulator to publish Groningen recommendation on Feb. 1

AMSTERDAM, Jan 24 (Reuters) – The Dutch gas regulator will publish its recommendation for production at the Groningen gas field on Feb. 1, a spokeswoman said on Wednesday.

Regulator SodM was asked to provide advice on a new production cut after the northern Dutch region was hit by the strongest earthquake in years earlier this month.

Both the regulator and gas production company NAM, a joint venture between Royal Dutch Shell and Exxon Mobil , have said that production needs to be cut substantially from the current level of 21.6 billion cubic metres (bcm) per year to limit seismic risks in the region. read more

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Shell hires solar chief for Latam -source

Reuters Staff: JANUARY 22, 2018

SAO PAULO, Jan 22 (Reuters) – Anglo-Dutch oil company Shell has hired a former executive of U.S.-based First Solar to lead its solar energy business in Latin America, a source said on Monday, as the industry invests in renewable energy to address global concerns about carbon emissions.

Maria Gabriela da Rocha Oliveira, First Solar’s former senior manager of business development for Brazil and South America, will take on a similar role at Shell’s New Energies unit for the region, said the source, requesting anonymity to discuss the confidential matter. read more

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Nigeria sues JP Morgan for $875 million over Malabu oilfield deal

Late last year, a Milan judge ruled that Shell and Eni must stand trial in Italy…

Libby George, Julia Payne: 18 JAN 2018 LONDON (Reuters) – Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country’s former oil minister.

A spokeswoman for JP Morgan dismissed the accusation on Thursday, saying the firm “considers the allegations made in the claim to be unsubstantiated and without merit”.

The suit filed in British courts relates to a purchase of the offshore OPL 245 oilfield in Nigeria by oil majors Royal Dutch Shell and Eni in 2011.

At the core of the case is a $1.3 billion payment from Shell and Eni to secure the block that the lawsuit says was deposited into a Nigerian government escrow account managed by JP Morgan. read more

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Shady triangle: Southeast Asia’s illegal fuel market

FILE PHOTO: A bird’s-eye view of ships along the coast in Singapore July 9, 2017. REUTERS/Jorge Silva/File Photo
Henning Gloystein, John Geddie: JAN 18, 2018 SINGAPORE (Reuters) – An alleged oil heist in Singapore that has already led to 20 arrests, the seizure of at least one tanker and allegations that thieves siphoned thousands of tonnes of fuel from Shell’s biggest refinery is shining a spotlight on an illegal trade worth tens of billions of dollars worldwide. Working routes in a triangle of sea anchored by Thailand, Vietnam and Singapore and encompassing the oil facilities of Malaysia, the smugglers take advantage of a difficult-to-patrol sea and enticing black market prices, experts say.

The suspects in the latest case are accused of stealing oil from Royal Dutch Shell’s (RDSa.L) Pulau Bukom refinery, often during business hours, and distributing it around the region.

Several of the men charged worked for Shell. Employees of a major Singaporean fuel trading company and a London-listed business that inspects and certifies cargos have also been charged.

“Siphoning off fuel is a common thing in Southeast Asia. There is a huge black market for it,” said Ben Stewart, commercial manager of the shipping security firm Maritime Asset Security and Training, which has helped authorities in the region fight fuel theft and smuggling. read more

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Shell agrees on five-year solar energy deal in Britain

Reuters Staff: JAN 18, 2018

LONDON (Reuters) – Shell Energy Europe and British Solar Renewables (BSR) have agreed on a five-year supply deal for power generated from Britain’s second-largest solar power plant in Bradenstoke, BSR said in a statement.

The plant consists of 269,000 panels and has a 69.8 megawatt peak capacity. On an annual basis, it generates approximately 65 gigawatt-hours of solar energy, saving over 21,000 tonnes of CO2 a year, BSR said.

Shell Energy Europe, an energy marketing and trading division of Royal Dutch Shell, is present in 14 European power markets, which includes the offtake of renewable power from wind farms and solar parks in Britain and Europe. read more

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U.S. oil industry set to break record, upend global trade

Liz Hampton: 16 JAN 2018

HOUSTON (Reuters) – Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day – toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.

And this new record, expected within days, likely won’t last long. The U.S. government forecasts that the nation’s production will climb to 11 million barrels a day by late 2019, a level that would rival Russia, the world’s top producer. read more

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FACTBOX-Shell oil heist: the story so far

John Geddie, Fathin Ungku: JAN 16, 2018

SINGAPORE, Jan 16 (Reuters) – Singapore authorities say they have uncovered a complex, cross-border scheme to steal large quantities of oil from Shell’s biggest refinery.

Their investigations have so far entangled several international companies in incidents going back months. Fourteen men face charges, the latest of which were announced on Tuesday.

Police have also seized an oil tanker and millions of dollars in cash, and frozen suspects’ bank accounts. read more

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Shell ventures back into solar

Ron Bousso: 15 JAN 2018

LONDON (Reuters) – Royal Dutch Shell agreed on Monday to acquire a stake in a U.S. solar company, 12 years after exiting the sector, in the latest in a series of deals to grow beyond its core oil and gas business.

The Anglo-Dutch company also gave the green light for its first major new project in the North Sea in six years, signaling a cautious return to spending following three years of belt tightening in the face of lower oil prices.

Shell agreed to buy a 43.86 percent stake in Silicon Ranch Corporation from funds linked to Partners Group for up to $217 million. It follows on the heels of British rival BP, which last month also re-entered the solar sector with the $200 million investment in Lightsource. read more

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Shell agrees to sell its stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu

REUTERS STAFF: JANUARY 15, 2018 / 2:19 PM /

DUBAI (Reuters) – Royal Dutch Shell has agreed to sell its stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu, a Shell spokesman said on Monday.

“Itochu and Shell have reached agreement on the sale of Shell’s interest in the West Qurna 1 oilfield and are now working to secure all the necessary approvals from the government of Iraq,” the spokesman said. “Details of the discussions are commercially confidential.”

Iraq has approved the sale by Shell of its 20 percent stake in the West Qurna 1 oilfield to Itochu, a senior Iraqi oil official told Reuters last week. read more

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Shell OKs first UK North Sea project in six years

Ron Rousso: JAN 15, 2018

LONDON (Reuters) – Royal Dutch Shell gave the green light on Monday for an expansion of the Penguins oil and gas field in the UK North Sea, its first major new project in the ageing basin in six years.

Shell said the development, which includes the construction of a floating production, storage and offloading (FPSO) vessel, reaffirmed the Anglo-Dutch company’s commitment to the region after it sold around half of its assets there last year.

“Penguins demonstrates the importance of Shell’s North Sea assets to the company’s upstream portfolio,” said Andy Brown, director of Shell’s oil and gas production, known as upstream. read more

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Singapore files more charges against Shell oil theft suspects

Fathin Ungku: JAN 15, 2018

SINGAPORE (Reuters) – A Singapore court on Monday filed additional charges against nine men accused in a large-scale oil theft at Shell’s biggest refinery, the latest development in an extensive investigation in the city-state.

The nine Singaporean men, eight of whom were employees of the Singapore subsidiary of Royal Dutch Shell Plc, faced initial charges in court last week alongside two Vietnamese nationals, who are due at court on Tuesday.

At least one additional charge was brought against each of the Singaporean men on Monday, court documents showed. read more

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Singapore charges three more suspects in Shell refinery oil heist

Police have seized millions of dollars in cash…

JOHN GEDDIE: JAN 13, 2018

SINGAPORE (Reuters) – A Singapore court on Saturday charged three men suspected of involvement in large-scale oil theft at Shell’s biggest refinery, days after bringing charges against 11 under an extensive probe by authorities in the city state.

The Singapore subsidiary of Royal Dutch Shell Plc first contacted the authorities in August 2017 about theft at its Pulau Bukom industrial site, just south of the country’s main island.

Police have seized millions of dollars in cash and a small tanker in the sting operation involving simultaneous raids across Singapore, one of the world’s most important oil trading centers and a major refinery hub. read more

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Too hot to handle? Shell’s Gaza gas field sale hits problems

Ron Bousso: JAN 11, 2018

LONDON (Reuters) – It may prove to be Royal Dutch Shell’s hardest sell. The Anglo-Dutch group is struggling to find a buyer for its gas field off the Gaza Strip, even among energy companies long used to dealing with projects fraught with political and security risks.

At least one European company has shown interest in the undeveloped Gaza Marine field following a reconciliation deal in October between the two rival Palestinian factions, a source involved in the talks said. read more

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Saudi Aramco hires former Shell executive for chemicals business

REUTERS STAFF: JANUARY 10, 2018

KHOBAR, Saudi Arabia (Reuters) – State oil giant Saudi Aramco has hired Olivier Thorel, a former senior executive at Royal Dutch Shell, as executive director for its chemicals business, the company said on Wednesday.

Thorel started his post at Saudi Aramco on Jan. 1. He held various positions with Shell in downstream operations after joining the company in France in 1990, Aramco said in its weekly magazine the Arabian Sun.

Saudi Aramco is growing its investments in downstream including chemicals as part of its strategy to diversify by balancing out its upstream and downstream activities. read more

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Shell sells stake in Iraq oilfield to Japan’s Itochu: oil official

Aref MohammedJANUARY 10, 2018 / 2:06 PM 

BASRA, Iraq (Reuters) – Iraq has approved the sale by Royal Dutch Shell of the company’s 20 percent stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu Corp, a senior Iraqi oil official said on Wednesday.

The deal comes as the Anglo-Dutch company agreed to exit the Majnoon oil venture, one of the largest fields in OPEC member Iraq, and hand over its operation to the state-run Basra Oil Co. (BOC) by the end of June 2018.

“Shell sold its stake in West Qurna 1 to Itochu and the oil ministry approved it. We met with Itochu and discussed the required financial investments and operations at the field,” Ihsan Abdul Jabbar, the head of state-run BOC, told Reuters in an interview.  read more

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UPDATE 3-Singapore charges 11 men over Shell oil heist

By John Geddie and Henning Gloystein: JANUARY 9, 2018 / 3:11 AM

  • Police say 17 arrested for alleged oil theft, 11 charged

  • Shell is one of the biggest foreign investors in Singapore

  • Southeast Asia is seen as a hotspot of illegal oil trading (Adds details of times, location of incidents, maps)

SINGAPORE, Jan 9 (Reuters) – Eleven men were charged in a Singapore court on Tuesday over their part in an alleged oil theft at Shell’s biggest refinery, court documents showed.

Police in the island-state, Asia’s main oil trading hub, said earlier on Tuesday they had detained 17 men and seized millions of dollars in cash and a small tanker during their investigations into a theft at the Pulau Bukom industrial site.

Royal Dutch Shell Plc, which first reported the theft to authorities in August, said in a news release that the arrests included “a limited number of Shell employees” and that it anticipated “a short delay in the supply operations at Bukom.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Magnitude 3.4 tremor at Groningen gas field 

AMSTERDAM, Jan 8 (Reuters) – The Dutch minister for the economy said on Monday that output at the large Groningen gas field should be reduced “by as much as possible” during the current government term through 2021.

Eric Wiebes made the comment following a magnitude 3.4 tremor earlier on Monday that was the largest in recent years.

Dozens of earthquakes every year, resulting from decades of gas extraction, have caused damage to thousands of buildings and homes and prompted a dramatic shift in government policy now aimed at capping output. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

U.S. offers drillers nearly all offshore waters, but focus is on eastern Gulf

Ernest Sheyder and Valerie Volcovici

HOUSTON/WASHINGTON (Reuters) – President Donald Trump’s administration has proposed opening up nearly all of America’s offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico.

The industry’s focus on an area located near a sprawling network of existing platforms, pipes and ports could ease the path to new reserves, and assuage the drilling opponents near other places offered under the Interior Department’s proposed drilling plan issued last week, like California’s Pacific, the Atlantic and Arctic. read more

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Shell sells partial stake in Dutch wind farm to Germany’s Partners Group

JANUARY 8, 2018 / 8:03 AM

AMSTERDAM, Jan 8 (Reuters) – Swiss investor Partners Group Holding AG said on Monday it had taken a 45 percent stake in a 700 megawatt (MW) offshore wind project in the Netherlands, buying partial stakes from Shell, Mitsubishi and Eneco.

Terms of Partners Group’s participation in the “Blauwwind II” consortium were not disclosed.

Project leader Shell, which last month put together a 13-bank consortium to provide 1 billion euros in funding to build it, cut its stake to 20 percent from 40 percent. read more

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Quest for new oil discoveries still on back burner

Ron Bousso: January 4, 2018

LONDON (Reuters) – Despite the strongest start for oil prices in four years, the world’s top oil companies are hesitating to accelerate the search for new resources as a determination to retain capital discipline trumps the hope of making bonanza discoveries.

Exxon Mobil, Royal Dutch Shell, Total and their peers are set to cut spending on oil and gas exploration for a fifth year in a row in 2018, according to consultancy Wood Mackenzie (WoodMac), despite a growing urgency to replenish reserves after years of reining back investment. read more

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BP takes $1.5 billion charge over U.S tax changes, joining Shell

RON BOUSSO: JANUARY 2, 2018 / 7:34 AM LONDON (Reuters) – BP (BP.L) will take a one-off $1.5 billion charge in its 2017 fourth quarter earnings as a result of new U.S. corporate income tax rules, joining rival Royal Dutch Shell.

The British oil and gas company said on Tuesday the cut in U.S. corporate income tax from 35 percent to 21 percent was expected to positively impact its U.S. earnings in the long run.

But in the short term, lower tax rates would affect its deferred tax assets and liabilities, resulting in a one-off, non-cash charge of $1.5 billion to its fourth quarter results which are due to be announced on Feb. 8, it said.

“The ultimate impact of the change in the U.S. corporate income tax rate is subject to a number of complex provisions in the legislation which BP is reviewing,” BP said in a statement. read more

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Ineos sees Forties oil flows back to normal around new year

Reporting by Dmitry Zhdannikov and Julia Payne; Editing by Elaine Hardcastle and Mark Potter: December 28, 2017

LONDON (Reuters) – Britain’s biggest and most important oil and gas pipeline Forties should resume normal flows around the new year, slightly earlier than previously flagged, its operator Ineos said on Thursday.

Ineos had previously expected the pipeline, which suffered a rare unplanned shutdown because of a crack, to resume normal operations in early January.

The closure since Dec. 11 of the pipeline, which normally pumps about 450,000 barrels per day, and supply disruptions in Libya have helped push oil prices above $67 a barrel, their highest since mid-2015. [O/R] read more

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Shell’s operations seen boosted by U.S. tax overhaul

Dec 27 (Reuters) – Royal Dutch Shell Plc said it expects recently enacted U.S. tax reform legislation to have a “favorable” impact on its operations.

The change in U.S. tax legislation, which is a reduction to 21 percent from 35 percent, will affect Shell’s fourth-quarter 2017 results but added the “analysis of the actual impact is not yet complete.”

The Anglo-Dutch company said it expects to provide details of the impact of the tax reform, which is effective from Jan. 1, in its fourth-quarter 2017 results. read more

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Italy judge orders Shell, Eni to stand trial on alleged corruption in Nigeria

MILAN, Dec 20 (Reuters) – An Italian judge has ordered oil majors Royal Dutch Shell and Eni to stand trial over alleged corruption in Nigeria with the CEO of Eni among past and present managers involved, legal sources said on Wednesday.

The judge set March 5 as the date for the trial to begin, the sources said.

All the parties involved have previously denied any wrongdoing.

The case revolves around the purchase in 2011 of Nigeria’s OPL-245 offshore oil block by Eni and Shell for about $1.3 billion. read more

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Japan’s Idemitsu, Showa Shell to merge key operations next spring

DECEMBER 20, 2017

REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) – Japanese refiners Idemitsu Kosan and Showa Shell Sekiyu will combine management of their key businesses, an Idemitsu spokesman said on Tuesday, pursuing a merger bitterly opposed by a core investor – Idemitsu’s founding family.

Japan’s second- and fourth-biggest refiners will form an office next spring with a staff of about 300 to manage crude oil purchases, refining and sales, seeking to cut costs by 30 billion yen ($266 million) over three years, Idemitsu spokesman Akitaka Yoshino said, confirming a Nikkei newspaper report. read more

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Oil workers sue Shell over Gulf of Mexico platform fire

REUTERS STAFF: 18 DECEMBER 2017

HOUSTON (Reuters) – Three offshore oil workers filed a lawsuit against units of Royal Dutch Shell and Enbridge, seeking $1 million in damages for injuries they allegedly received during a Nov. 8 fire on a U.S. Gulf of Mexico production platform.

The suit, filed in Galveston County court in Texas on Dec. 5, claims safety lapses on Shell’s Enchilada platform caused severe injuries to the three. The complaint seeks more than $1 million in damages from Shell International Exploration and Production, Shell Offshore, and Garden Banks Gas Pipeline Co, a unit of Enbridge, which owns a gas pipeline connected to the platform. read more

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Oil stable on tighter market, but rising US output looms for 2018

BY HENNING GLOYSTEIN: DECEMBER 15, 2017

* OPEC-led supply cuts, Forties pipeline outage support crude

* But rising U.S. output, driven by shale, weighs on market

SINGAPORE, Dec 15 (Reuters) – Oil markets were stable on Friday as the Forties pipeline outage in the North Sea and the ongoing OPEC-led production cuts supported prices, while rising output from the United States kept crude from rising further.

U.S. West Texas Intermediate (WTI) crude futures were at $57.13 a barrel at 0119 GMT, up 9 cents from their last settlement. read more

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Norway parties inclined to back fund’s plan to slash oil exposure -report

REUTERS STAFF: DECEMBER 12, 2017

OSLO, Dec 12 (Reuters) – Norway’s $1 trillion sovereign wealth fund, the world’s largest, will probably win backing from parliament for its proposal to cut most oil and gas stocks from its portfolio, business daily Dagens Naeringsliv reported on Tuesday.

If adopted by parliament, the fund would over time divest billions of dollars from oil and gas stocks, which now represent 6 percent – or around $37 billion – of its benchmark equity index. read more

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Shell says fire extinguished at Singapore refinery-petchem plant

REUTERS STAFF: DECEMBER 11, 2017 

SINGAPORE, Dec 11 (Reuters) – Royal Dutch Shell said a fire at its Singapore refinery-petrochemical site was extinguished on Sunday and no one was hurt in the incident.

The fire occurred at one of its manufacturing units on Bukom Island at about 10 a.m. (0200 GMT) and was extinguished shortly after by the site’s firefighters, a company spokeswoman said in an e-mailed statement.

Shell was investigating the cause of the incident and did not expect any impact on its customers, she said. read more

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Shell to take first LNG shipments from new U.S. Cove Point plant

Reuters Staff: DECEMBER 6, 2017 / 12:27 PM

LONDON, Dec 6 (Reuters) – Royal Dutch Shell will take the initial cargoes of liquefied natural gas (LNG) shipped from Dominion Energy’s new Cove Point export facility in Maryland after providing the plant’s feed gas supply, Dominion Energy said on Tuesday.

So-called commissioning cargoes during the ramp-up phase of an LNG export plant can vary in quality and teething problems can prompt delays.

Dominion said it began introducing feed gas supply into the plant on Tuesday. The gas is sourced from Shell North America, it said. read more

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