Royal Dutch Shell Group .com http://royaldutchshellgroup.com News and information on Royal Dutch Shell Group Sat, 21 Apr 2018 10:34:31 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.5 https://i2.wp.com/royaldutchshellgroup.com/wp-content/uploads/2016/09/cropped-Screen-Shot-2016-09-09-at-20.58.10-e1474903354499.jpg?fit=32%2C32 Royal Dutch Shell Group .com http://royaldutchshellgroup.com 32 32 68478824 Shell’s Profits Soar From Strong Asian Demand http://royaldutchshellgroup.com/2018/04/21/shells-profits-soar-from-strong-asian-demand/ http://royaldutchshellgroup.com/2018/04/21/shells-profits-soar-from-strong-asian-demand/#respond Sat, 21 Apr 2018 10:34:31 +0000 http://royaldutchshellgroup.com/?p=98051 Shell’s Profits Soar From Strong Asian Demand was first posted on April 21, 2018 at 11:34 am.
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By Tsvetana Paraskova – Apr 20, 2018, 10:00 PM CDT

Oil major Shell has snapped up over 8 million barrels of June-loading crude oil grades from the Middle East and Russia and has resold some of the cargoes in Asia, taking advantage of the strong Asian demand, Reuters reported on Friday, citing five trading sources.

Wider Brent premium over the Middle Eastern benchmark Dubai this month has made Atlantic crude oil supplies more expensive than the Middle Eastern and Russian supplies, which are priced off the Dubai benchmark.

According to two of Reuters’ sources directly involved in the trades, Shell has bought six cargoes of Qatar Marine, four cargoes of Upper Zakum, three cargoes of Russian Sokol, and at least one Banoco Arab Medium and one al-Shaheen cargo from various sellers.

The Anglo-Dutch oil major has resold one of the Qatar Marine cargoes to a customer in Thailand at a premium of more than US$0.20 per barrel to the official selling price (OSP) of the grade, compared to premiums of between US$0.10 and US$0.20 a barrel in previous deals, Reuters sources said.

Shell’s oil cargo acquisitions have reduced the spot availability, and for some of the crude grades, Shell is the only seller, according to Reuters’ sources.

Demand in Asia is strong, and some analysts believe that it’s stronger than expected, even though oil prices have risen.

According to Thomson Reuters Eikon trade data, Asia’s seaborne imports of crude oil will hit a recordin April, with China likely to import more than 9 million bpd this month, possibly setting a record. This robust demand, even amid the maintenance season, points to Chinese oil demand growth even stronger than expected.

Related: New Sanctions On Russia Could Lift Oil Prices Further

“Chinese demand points to strong growth,” Reuters quoted Goldman Sachs as saying in a note to clients. Demand growth may be “higher than currently estimated,” according to Goldman.

Some analysts in Asia don’t expect refineries across the region to reduce imports or cut refinery rates because of the high oil prices, but some traders expect major overhauls at some Chinese refineries in May and June.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Shell’s Profits Soar From Strong Asian Demand was first posted on April 21, 2018 at 11:34 am.
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Nigeria’s Buhari hints at $15 billion deal with Shell, says ‘we are not doing too badly’ http://royaldutchshellgroup.com/2018/04/19/nigerias-buhari-hints-at-15-billion-deal-with-shell-says-we-are-not-doing-too-badly/ http://royaldutchshellgroup.com/2018/04/19/nigerias-buhari-hints-at-15-billion-deal-with-shell-says-we-are-not-doing-too-badly/#respond Thu, 19 Apr 2018 14:28:43 +0000 http://royaldutchshellgroup.com/?p=98044 Nigeria’s Buhari hints at $15 billion deal with Shell, says ‘we are not doing too badly’ was first posted on April 19, 2018 at 3:28 pm.
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  • Nigeria’s President Muhammadu Buhari met with Shell on Wednesday as part of talks that could lead to a $15 billion investment in his country.
  • Oil accounts for approximately 35 percent of Nigeria’s gross domestic product, according to OPEC.

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Daniel Leal | Olivas-WPA Pool | Getty Images: Nigerian President Muhammadu Buhari at the Commonwealth Business Forum at the Guildhall on April 18, 2018, in London, England.

Nigerian President Muhammadu Buhari met with Shell on Wednesday as part of talks he said were to secure $15 billion of investment in his country.

“I saw Shell Group, they came here, they saw me, they are preparing to invest $15 billion in Nigeria… so really, we are not doing too badly,” Buhari said to applause at the Commonwealth Business Forum in London on Wednesday. He was speaking as part of a panel on the ease of doing business between Commonwealth countries.

Shell confirmed to CNBC that the meeting had taken place, but did not comment on the size of the specific investment.

A spokesperson said in a statement: “Nigeria is an important country for Shell. We see good opportunities there for potential investment,” referencing its Bonga offshore oil field and the expansion of liquefied natural gas as examples of this. “Both projects are subject to a future final investment decision and we continue to work with our partners and the government towards that in each case.”

Shell’s statement added: “The potential investments feature as options in our long-term plans and would fit within our capital spending range of $25 to $30 billion per year if we decide to go ahead with them.”

Oil price volatility has hit Nigeria’s economy — the largest on the African continent — hard. In 2016, the country suffered its first full-year recession in 25 years. Economic growth remains sluggish, expected by the International Monetary Fund (IMF) to be 2.1 percent for 2018, well below the emerging market average of 4.9 percent.

Oil accounts for approximately 35 percent of Nigeria’s gross domestic product, according to the Organization of the Petroleum Exporting Countries (OPEC), of which Nigeria is a member.

Buhari referenced that, as of October, Nigeria had risen 24 places in the World Bank’s Ease of Doing Business ranking to 145th out of a total of 190 economies.

“We acknowledge that much more is to be done,” he said. “We are now in the next stage, this is work in progress.”

SOURCE


Nigeria’s Buhari hints at $15 billion deal with Shell, says ‘we are not doing too badly’ was first posted on April 19, 2018 at 3:28 pm.
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Holding Onto Major Clients Is Now Tougher for WPP http://royaldutchshellgroup.com/2018/04/17/holding-onto-major-clients-is-now-tougher-for-wpp/ http://royaldutchshellgroup.com/2018/04/17/holding-onto-major-clients-is-now-tougher-for-wpp/#respond Tue, 17 Apr 2018 19:25:59 +0000 http://royaldutchshellgroup.com/?p=98039 Holding Onto Major Clients Is Now Tougher for WPP was first posted on April 17, 2018 at 8:25 pm.
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Martin Sorrell’s departure as chief executive officer of WPP Plc comes at a sensitive time for the world’s largest advertising company as it faces an intense period of fighting to keep major clients.

Here are some key accounts that WPP will want to defend from rivals such as Publicis Groupe SA and Omnicom Group Inc. after his departure:

4. Shell

Europe’s largest energy company Royal Dutch Shell Plc is reviewing its global creative and media account, held by WPP’s J. Walter Thompson and MediaCom for decades, according to The Drum. The account is worth more than $200 million, according to AdAge.

FULL ARTICLE


Holding Onto Major Clients Is Now Tougher for WPP was first posted on April 17, 2018 at 8:25 pm.
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Big Oil Bids to Burnish Credentials in War on Climate Change http://royaldutchshellgroup.com/2018/04/17/big-oil-bids-to-burnish-credentials-in-war-on-climate-change/ http://royaldutchshellgroup.com/2018/04/17/big-oil-bids-to-burnish-credentials-in-war-on-climate-change/#respond Tue, 17 Apr 2018 15:47:38 +0000 http://royaldutchshellgroup.com/?p=98033 Big Oil Bids to Burnish Credentials in War on Climate Change was first posted on April 17, 2018 at 4:47 pm.
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The world’s biggest oil companies, for long typecast as villains of climate change, are seeking to reinvent themselves as environmental pioneers.

“We’re not going to be sitting back and say let’s see what society does and we’ll follow that,” said Ben van Beurden, chief executive officer of Royal Dutch Shell Plc. “We’re more than prepared to be assertive and lean forward and say: ‘This is what it takes.”’

Irked by a shareholder resolution that would force Europe’s largest oil company to create specific emissions targets, the CEO took the unusual step of engaging with five reporters on Monday about Shell’s vision for a decarbonized world. Not only is Shell implementing its own, much stronger, measures to manage the energy transition, according to Van Beurden, but it can also drag the rest of the world along with it.

Proving to activists and shareholders that they care about the climate is becoming an essential preoccupation for oil majors. Hours after Van Beurden reached out, BP Plc hosted dozens of analysts, journalists, politicians and technocrats at its office to explain what it was doing about emissions.

BP wheeled out its entire executive team, with five giving speeches about what specifically they were doing about climate change. In the audience sat former CEO John Browne, who pioneered the company’s ill-fated “Beyond Petroleum”rebranding campaign.

Goals Commended

In search of wider affirmation, BP brought a climate scientist, Princeton University’s Stephen Pacala. He commended BP’s emissions goals and said fossil fuel companies would be an important part of the future. Environmentalist and CEO of The Nature Conservancy, Mark Tercek, added his praise via Skype.

Not everyone was convinced. Hours before the BP event, a former adviser to the company and head of an environmental think-tank told The Guardian that its targets were “lightweight PR” and “greenwashing.”

Still, the presentations show an oil industry that is far from a cabal of climate-change deniers.

A key test of the effectiveness of Big Oil’s new resolve will focus on its fight for a carbon price. When asked last year by a senior policymaker why Shell didn’t advocate for stronger carbon pricing, Van Beurden was surprised. His company had been doing so for decades.

“The real, honest, naked assessment is we have not been very successful” in getting the message out about carbon, he told reporters on Monday. “Apparently the message hasn’t reached them.”

SOURCE


Big Oil Bids to Burnish Credentials in War on Climate Change was first posted on April 17, 2018 at 4:47 pm.
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Royal Dutch Shell to resume deep-water exploration off Egypt http://royaldutchshellgroup.com/2018/04/17/royal-dutch-shell-to-resume-deep-water-exploration-off-egypt/ http://royaldutchshellgroup.com/2018/04/17/royal-dutch-shell-to-resume-deep-water-exploration-off-egypt/#respond Tue, 17 Apr 2018 15:06:34 +0000 http://royaldutchshellgroup.com/?p=98029 Royal Dutch Shell to resume deep-water exploration off Egypt was first posted on April 17, 2018 at 4:06 pm.
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Reuters Staff: APRIL 17, 2018

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

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

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

The field is owned by Egypt’s General Petroleum Corporation (EGPC), Malaysia’s Petronas and Shell.

(This version of the story has been refiled to fix dateline)

Reporting by Ahmed Ismail, writing by Amina Ismail; editing by Jason Neely

SOURCE


Royal Dutch Shell to resume deep-water exploration off Egypt was first posted on April 17, 2018 at 4:06 pm.
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