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Posts Tagged ‘Oil’

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

Ron Bousso, Shadia Nasralla: JULY 18, 2018

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

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

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

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

By: , SA News Editor: 12 July 2018

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

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    Oil Spill – Nigerian Communities/Shell Face-Off

    By Egufe Yafugborhi

    Port Harcourt — Communities in Bayelsa State impacted by May 17 oil spillage from Shell Petroleum Development Company’s, SPDC, Trans-Ramos Pipeline have vowed to disrupt repairs on the key asset over perceived biased Joint Investigation Visit, JIV.

    However, Bamidele Odugbean, in a Shell feedback, said it would be hasty and unfair for any party to question the JIV process that was yet to be concluded, adding that the issues with relief materials would be looked into.

    The representatives of the communities, which raised the concern, are Arthur Bendiwei, Egburu Dehmeon Wuka, Eric Paka and Moses for Agge; Egboru Asubor, Bunky England and Martins Tuduo, for Ekogbene and Monday Etoige and Oborowei Fred, for Kandaghan. read more

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    Nigeria says Shell signs $3.7B gas project agreement

    |By: , SA News Editor

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

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

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

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

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

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

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

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

    REUTERS STAFF: 10 JULY 2018

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

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

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

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

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    Japan oil refiners Idemitsu and Showa Shell to merge

    Japan oil refiners Idemitsu and Showa Shell to merge

    Deal proceeding after end of bitter dispute with founding family members who objected

    Merging Japan’s number two and number four oil refiners would create a group with $47bn in combined annual revenue © Bloomberg

    The merger of two of Japan’s leading oil refiners is set to go ahead after a two-year delay, ending a bitter dispute with founding family members who had sought to derail the deal. Under the original agreement reached in 2015, Royal Dutch Shell had planned to sell its 33 per cent stake in Showa Shell for $1.6bn to Idemitsu as part of efforts to reduce debt and streamline operations after its £35bn takeover of BG Group. FULL FT ARTICLE read more

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    Big Oil’s Next Major Move

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

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

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

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    Church of England to withdraw funds from polluting firms that fail to tackle climate change

    8 JULY 2018 • 7:00PM

    The Church of England is to withdraw funds from polluting firms that fail to tackle climate change.

    Companies including Shell and BP could face disinvestment from the church within five years if they do not fall in line with strict environmental measures.

    Its General Synod, meeting this weekend in York, voted to bring in the timetable to put more pressure on companies which fail to meet the aims of the Paris climate accords.

    The church pulled £12m in funds out of assets such as coal and tar sands oil following another Synod vote in 2015, but is still an investor in major fossil fuels companies.

    The church’s pension fund, worth £2bn, is understood to be in deficit, but a spokesman said it was on track to remove it.

    The decision came after the church was slammed by one of its bishops for failing to move with sufficient urgency. read more

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    $US150 a barrel? Shareholder greed could make oil prices double

    By Ben Sharples: Bloomberg News: 7 July 2018

    Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented crude price spike, according to Sanford C. Bernstein.

    Companies have been compelled to focus on boosting returns and shareholder distributions at the expense of capital expenditures aimed at finding new supplies, analysts including Neil Beveridge wrote in a note on Friday. read more

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    Shell Subsidiary to Pay $3.8 Million for 2016 Gulf Spill

    Shell Subsidiary to Pay $3.8 Million for 2016 Gulf Spill

    A subsidiary of Royal Dutch Shell has agreed to pay $3.8 million to the U.S. government to settle a lawsuit over a 2016 oil spill in the Gulf of Mexico.

    NEW ORLEANS (AP) — A subsidiary of Royal Dutch Shell has agreed to pay $3.8 million to the U.S. government to settle a lawsuit over a 2016 oil spill in the Gulf of Mexico.

    The May 11, 2016, spill of nearly 2,000 barrels (317974.6 liters) occurred about 97 miles (156 kilometers) off the Louisiana coast.

    The New Orleans Advocate, citing court documents, reports that an investigation pointed to a leak in a piping system that is used to transport oil from a production well on the sea floor.

    The settlement isn’t final. It must first be published in the Federal Register and have a 30-day public comment period before it can get final approval from a federal judge. read more

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    ‘Noisy democracies’ block climate progress for Shell

    Ben van Beurden, chief executive of Royal Dutch Shell, said governments need to lead if the world is to meet the goals of the Paris climate agreement: TIMES NEWSPAPERS LTD

    The boss of Royal Dutch Shell has said it is easier to make progress on climate change in countries such as China than in “noisy democracies” such as Britain.

    Ben van Beurden, chief executive, complained yesterday that the world was spending too much time and effort arguing about how to tackle global warming instead of taking action.

    “In places like China it works very well, governments work very gratefully with us and adopt really incredibly pragmatic and powerful policies, sensible, etc. Here, there are more participants in the debate, let me put it that way,” Mr Van Beurden said. read more

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    Shell boss Ben van Beurden will not set firm emission targets

    Royal Dutch Shell would be “foolhardy” to adopt firm targets for cutting its carbon emissions because it would open itself up to lawsuits, the company’s boss has said.

    The energy group has set an “ambition” to halve the carbon footprint of its energy products by 2050, which it says would put it in line with the Paris climate goals, but has resisted calls for binding commitments.

    Ben van Beurden, Shell chief executive, said that the group did not want to “put ourselves at the mercy of a legal challenge”. read more

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    Shell To Hand Over $3.9M Over 2016 Gulf Oil Spill

    Shell To Hand Over $3.9M Over 2016 Gulf Oil Spill

    Law360 (July 5, 2018, 5:27 PM EDT) — Shell Offshore Inc. agreed to pay nearly $3.9 million in connection with a May 2016 spill of more than 80,000 gallons of oil in the Gulf of Mexico that occurred about 100 miles from the Louisiana coast, according to a consent decree filed Thursday in federal… SOURCE

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    Shell CEO says ‘foolhardy’ to set carbon reduction targets

    Shell CEO says ‘foolhardy’ to set carbon reduction targets

    Ron Bousso: JULY 5, 2018

    LONDON (Reuters) – Royal Dutch Shell’s boss said it would be “foolhardy” for the oil and gas producer to set hard targets to reduce carbon emissions as it risked exposing the energy giant to legal challenges.

    The energy industry has struggled in recent years to find a clear path to secure its role as the world shifts from fossil fuels in order to meet the 2015 Paris climate agreement goals.

    Shell Chief Executive Officer Ben van Beurden last year set out ambitions last year to halve its carbon emissions by 2050, far exceeding rivals. But the Dutch CEO resisted calls by activists and some investors to set binding targets. read more

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    Royal Dutch Shell: Streamlining Assets

    Jun. 30, 2018 12:54 AM ET

    Summary

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

    Background

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

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

    Disposals

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

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    U.S. court dismisses climate change lawsuits against oil companies

    U.S. court dismisses climate change lawsuits against oil companies

    Reuters Staff: JUNE 26, 2018

    (Reuters) – A federal court in California dismissed climate change lawsuits by the cities of San Francisco and Oakland against five oil companies, saying the complaints required foreign and domestic policy decisions that were outside its purview.

    San Francisco and Oakland sued Chevron Corp, Exxon Mobil Corp, ConocoPhillips, Royal Dutch Shell Plc, and BP Plc last year seeking an abatement fund to help the cities address flooding they said was a result of climate change.

    Judge William Alsup of the U.S. District Court for the Northern District of California said in the ruling that the dangers raised by the complainants were real and worldwide, and both parties accepted the science behind global warming. read more

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    Opposition Lawmaker Demands Probe into Netherlands-Shell Tax Deal

    By Linda A. Thompson: June 27, 2018

    A Dutch opposition lawmaker is pushing the government to launch a parliamentary inquiry into Shell, calls that follow criticism of the oil giant’s past deals with the tax authority.

    Jesse Klaver, the leader of the Dutch Greens, is specifically focused on a 2004 tax ruling the tax authority issued to Royal Dutch Shell Plc. A parliamentary inquiry would be lawmakers’ only shot to question Shell executives about the deal, and would be the latest development in scrutiny of the company’s tax planning. read more

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    Judge tosses San Francisco-Oakland climate change lawsuit against big oil companies

    Judge tosses San Francisco-Oakland climate change lawsuit against big oil companies

    – Associated Press – Monday, June 25, 2018

    SAN FRANCISCO — A U.S. judge who held a hearing about climate change that received widespread attention ruled Monday that Congress and the president were best suited to address the contribution of fossil fuels to global warming, throwing out lawsuits that sought to hold big oil companies liable for the Earth’s changing environment.

    Noting that the world has also benefited significantly from oil and other fossil fuel, Judge William Alsup said questions about how to balance the “worldwide positives of the energy” against its role in global warming “demand the expertise of our environmental agencies, our diplomats, our Executive, and at least the Senate.” read more

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

    Ron Bousso, Shadia Nasralla: JUNE 25 2018

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

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

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

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    Shell to develop North Sea Fram gas field

    Shell to develop North Sea Fram gas field

    Monday 25 June 2018

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

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

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

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

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

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

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

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

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

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    Shell hoping impact of decommissioning project will be felt far beyond Brent

    Shell hoping impact of decommissioning project will be felt far beyond Brent

    In the year since the Brent Delta platform came ashore for dismantling, its past and present owners have found there isn’t much that can’t be reused or given away.

    The Brent Delta platform with the flare stack and most of the accommodation block dismantled.

    Written by  – 

    Bedding to an animal charity, mattresses and furniture to people in need, and emergency Marks and Spencer tinned food supplies to food banks – just about everything is of value to someone.

    Pumps are being refurbished and 4,400 tonnes of steel has been cut up into “coupons” ready to be sold.

    Current owner Able UK is even selling the sand it dug up when it was strengthening the quayside which would receive Brent Delta at its yard in Hartlepool. read more

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    Shell joins UK offshore wind partnership group

    Shell joins UK offshore wind partnership group

    Shell Global Solutions International BV has today joined the Offshore Wind Accelerator (OWA), the Carbon Trust’s collaborative research, development and demonstration programme.

    Written by

    The oil giant joins existing partners EnBW, E.ON, Equinor, Innogy SE, Orsted, ScottishPower Renewables/Iberdrola, SSE Renewables and Vattenfall Wind Power on the OWA roster.

    Set up in 2008, the Carbon Trust’s OWA programme is primarily structured around five research areas: Access Systems; Cable Installation, Electrical Systems; Wake Effects and Wind Resource; and Foundations.

    Dorine Bosman, VP Wind Development at Shell, said: “The Carbon Trust’s Offshore Wind Accelerator is a good example of the collaboration required between public and private sectors. The research and development programme will be key to delivering technical, commercial and financial innovations for large scale and sustainable offshore wind opportunities in the future.” read more

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    Nigeria: Court Orders Shell to Pay $3.6 Billion Fine Over Oil Spill

    Nigeria: Court Orders Shell to Pay $3.6 Billion Fine Over Oil Spill

    20 June 2018

    By Adelanwa Bamgboye

    Lagos — Justice Mojisola Olatoregun, sitting at a Federal High Court in Lagos has dismissed a suit by Shell Nigeria Exploration and Production Company Ltd challenging the imposition of $3.6billion fine on it by the Federal Government.

    The court resolved all the issues in the defendant’s favour and dismissed the suit.

    Shell sued the National Oil Spill Detection and Response Agency (NOSDRA), challenging its powers to impose levies or fines over oil spills.

    The plaintiff prayed the court to declare that NOSDRA cannot, in the light of Section 1, 3, 4, 5 and 6 of the 1999 Constitution, validly exercise any powers under Section 5, 6, 7 and 19 of the NOSDRA Act. read more

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

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

    BY SAHARA REPORTERS, NEW YORK JUN 20, 2018

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

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

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

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    Shell dumps interest in two Norwegian fields

    Shell dumps interest in two Norwegian fields

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

    By Daniel J. Graeber: June 20, 2018

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

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

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

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

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    DUTCH GOV’T UNDER FIRE OVER TAX DEAL WITH SHELL

    By Janene Pieters on June 18, 2018 

    The Tweede Kamer, the lower house of Dutch parliament, wants the government to explain a controversial deal that Shell made with the Dutch tax authorities in 2005. As a result of this deal, Shell’s British shareholders are exempt from dividend tax in the Netherlands, through which the Dutch treasury lost out on over 7 billion euros, newspaper Trouw reported on Saturday.

    The Kamer now wants to know whether this tax deal is allowed under Dutch law, and whether any politicians were involved in making it, according to newspaper AD. SP leader Lilian Marijnissen called it a “stinky” deal. GroenLinks wants a parliamentary inquiry into dividend tax. And the four coalition parties – VVD, CDA, D66 and ChristenUnie – jointly submitted questions to State Secretary Menno Snel of Finance.  read more

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    Shell May Be Rediscovering Its Swagger in Texas Shale Oil Country

    By Kelly Gilblom: 18 June 2018, 05:00 BST

    Shale oil hasn’t always been Royal Dutch Shell Plc’s best friend, but they’re working on the relationship.

    Shell is said to have bid, with partner Blackstone Group LP, on a portfolio of U.S. shale assets BHP Billiton Ltd. wants to sell for about $10 billion. If it wins, the Anglo-Dutch oil major could exceed its goal of doubling its American onshore output, according to JPMorgan Chase & Co.

    That would boost the unit’s free cash flow — currently on track to grow by $2 billion by 2025 — and turn around a shale portfolio that is currently “mid-lower ranked,” analysts from the bank including Christyan Malek said in a report. read more

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    Dutch ecologist party asks for investigation of Shell dividend tax payment

    Dutch ecologist party asks for investigation of Shell dividend tax payment

    Sat 16 June 2018

    The Dutch ecologist party, Groen Links, has asked parliament this Saturday to appoint a commission to investigate payment of taxes on dividends by multinational oil company Shell. According to newspaper Trouw, company has since 2005 avoiding this rate “with permission of Dutch Treasury, through Jersey, island of channel of La Mancha [a dependence British Crown]”. During those years, “Shell has distributed among its shareholders about 45 billion euros, of which 7 billion should have been entered in coffers of state.” Shell claims that it has not violated tax rules. read more

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    Forgotten no more: Shell Oil preserves slave cemeteries

    Forgotten no more: Shell Oil preserves slave cemeteries

    Associated Press

    by ASSOCIATED PRESS: Published: Thu, June 14, 2018 8:48 AM Updated: Thu, June 14, 2018 8:49 AM
    In this taken March 28., 2018 photo, shows the Bruslie Cemetery, a burial ground for slaves in New Orleans. The Shell Oil Company has spruced up, marked and blocked off tracts of its land in the Convent community west of New Orleans where archaeologists confirmed the presence of slave burial grounds in 2013. (AP Photo/Kevin McGill)
    CONVENT, La. (AP) — A major oil company is taking steps to honor once-forgotten slaves buried on its land west of New Orleans in an area where sugar plantations once abounded, an effort that some hope will grow into a larger movement to recognize and protect such cemeteries around the country.

    The Shell Oil Company marked, blocked off and spruced up the tracts near its Convent refinery west of New Orleans and held dedication ceremonies in March, about five years after archaeologists confirmed the presence of slave burial grounds in 2013. The company also has been working with the nearby River Road African American Museum to arrange commemorative events and accommodate visitors.

    It’s the latest example of the South’s decades-long path to acknowledging unsavory aspects of its history. read more

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    Italy’s top court rejects appeal to stymie Shell, Eni corruption trial

    REUTERS STAFF: JUNE 13, 2018 / 4:03 PM

    ROME (Reuters) – Italy’s Supreme Court threw out an appeal from Shell and four former Shell managers to stymie a corruption trial that has also involved Eni’s chief executive, legal sources said on Wednesday.

    The long-running graft case on alleged corruption in Nigeria, revolves around the 2011 purchase by Eni and Shell of Nigeria’s OPL-245 offshore oilfield for about $1.3 billion. The trial began last month, with the next hearing set for June 20. read more

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    Italy’s top court tosses appeal in Shell, Eni corruption trial

    |By: , SA News Editor

    Italy’s Supreme Court rejects an appeal from Royal Dutch Shell (RDS.ARDS.B) and four former Shell managers to reverse a trial on alleged corruption in Nigeria, which also has implicated Eni (NYSE:E) CEO Claudio Descalzi.

    The appeal hoped to reverse the trial to the preliminary hearing stage due to what it said were procedural errors, but the court ruled that the appeal was inadmissible.

    Nine current and former company executives or contractors, including Descalzi, are accused by Italian prosecutors of paying bribes to secure the license to explore Nigeria’s OPL-245 offshore oilfield, which holds ~9B barrels of oil but has never entered production. read more

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    Oil majors to bid on choice stakes in Brazil’s offshore

    Oil majors to bid on choice stakes in Brazil’s offshore

    RIO DE JANEIRO (Reuters) – Executives from oil majors were set to gather in Rio de Janeiro on Thursday to compete for stakes in Brazil’s pre-salt oil play, home to some of the world’s most alluring offshore geology, as rising oil prices boost appetite for expensive offshore projects.

    A record 16 companies, including Chevron Corp, BP Plc and Royal Dutch Shell Plc registered to bid for four blocks in the offshore Campos and Santos basins, part of the so-called fourth pre-salt auction on Thursday. read more

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    Shell says Nigeria attacks continue despite oil output recovery

    Nigeria’s oil wells may be flowing again, but the country’s largest operator says attacks continue to put a brake on output.

    Written by

    “Security in parts of the Niger delta remains a major concern with persisting incidents of criminality, kidnapping and vandalism as well as onshore and offshore piracy,” said Igo Weli, general manager for external relations at Royal Dutch Shell Plc’s local unit. The warning underlines the enduring threat of attacks even as production recovers from a major militant campaign in 2016.

    Shell declared force majeure on Bonny Light crude shipments last month following pipeline leaks, while loadings of Forcados exports were also delayed. Weli didn’t specifically link those incidents to his comments on vandalism. read more

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    Shell Makes A Big Bet On Deepwater, The Norphlet

    Jun. 5, 2018 1:09 AM ET

    Summary

    • Shell has made a huge bet on a deeply buried resource in the Gulf of Mexico.
    • In this article we explain, why they continue to spend billions of dollars in Deepwater, when other companies have abandoned it.
    • We also provide a range where we would consider adding to our Shell position.

    FULL ARTICLE

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    Shell Settles With Epa For Hazardous Waste ViolationsBay

    Shell Settles With Epa For Hazardous Waste ViolationsBay

    City News Service: Published 11:37 pm, Monday, June 4, 2018

    Shell Oil will pay a settlement to the U.S. Environmental Protection Agency for hazardous waste violations at a crude oil refinery near Martinez. The settlement will include a $142,664 civil penalty and $220,300 in equipment improvements. The initial EPA complaint included failure to manage and report hazardous waste materials…

    FULL ARTICLE

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    Pope to address oil majors in Vatican climate conference

    FILE PHOTO: Pope Francis arrives to lead the Wednesday general audience in Saint Peter’s square at the Vatican, May 23, 2018. REUTERS/Stefano Rellandini/File Photo Philip Pullela: June 1, 2018 VATICAN CITY (Reuters) – The Vatican will host executives of the world’s top oil companies for a conference next week on climate change and the transition away from fossil fuels, a Vatican source said on Friday.

    Pope Francis, who wrote a major document on protection of the environment from global warming in 2015, is expected to address the group on the last day of the June 8-9 conference.

    The conference, organized by Notre Dame University in the United States, is expected to be attended by the heads or senior executives of companies including ExxonMobil, Eni, BP, Royal Dutch Shell and Pemex, the source said.

    The oil and gas industry has come under increasing pressure from investors and activists to play a bigger role in reducing the emissions of greenhouse gasses in order to meet goals set out in a 2015 climate agreement signed in Paris. read more

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    Friends of the Earth says to sue Shell over climate change

    Reuters Staff: Tuesday 29 May 2018

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

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

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    WSJ: Pollution worsens around Shell oil spills in Nigeria

    |By: , SA News Editor

    A confidential study that Royal Dutch Shell (RDS.A, RDS.B) has been accused of trying to shield from public view showed worsening “catastrophic” pollution around oil spill sites in Nigeria, WSJ reports.

    At least one of the study’s authors has urged the findings to be widely distributed because they pointed to significant health risks to the local Bodo community in Nigeria but said that Shell had denied him permission to publish the study’s results in a scientific journal, according to the WSJ report. read more

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    Judge wants more info from big oil companies in climate change lawsuits

    May 25, 2018 12:42 PM ET|By: , SA News Editor

    A federal judge yesterday said he needed more information before deciding whether to dismiss lawsuits by the cities of San Francisco and Oakland alleging that Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Royal Dutch Shell (RDS.A, RDS.B), BP and ConocoPhillips (NYSE:COP) should pay to protect residents from the impacts of climate change.

    The judge also wants the companies to produce additional material backing up claims that they should not be a part of the case because the court lacked jurisdiction over them. read more

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    Brazil only gets bid from Shell for its pre-salt oil

    Reuters Staff: MAY 24, 2018

    By Luciano Costa

    SAO PAULO, May 24 (Reuters) – An auction of oil by the Brazilian government from coveted offshore pre-salt fields has only attracted the interest of one bidder, Royal Dutch Shell Plc , a person familiar with the matter said on Thursday.

    The auction, scheduled for May 30, is the first time the government will sell its share of oil in the pre-salt, where billions of barrels of crude are trapped beneath a thick layer of salt under the ocean floor. read more

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    Nigeria’s Bodo community claims win over Shell after latest UK court ruling

    REUTERS STAFF: MAY 24, 2018

    By Estelle Shirbon

    LONDON, May 24 (Reuters) – A British judge ruled on Thursday that Nigeria’s Bodo community, which has been involved in a protracted legal battle with Shell over the clean-up of two 2008 oil spills, should retain the option of litigation for another year.

    Lawyers for Bodo had accused Shell of trying to kill off the legal case by seeking a court order that would have meant the community had to meet onerous conditions before it could revive its litigation, which is currently on hold. read more

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    Shell Makes Large Heartland Discovery In Gulf Of Mexico

    Map showing the location of Shell’s Dover discovery and its proximity to Shell’s new Appomattox host in the U.S. Gulf of Mexico 

    HOUSTON, May 24, 2018 /PRNewswire/ — Shell Offshore, Inc. (“Shell”) today announced a large, deep-water, exploration discovery in the Norphlet geologic play in the U.S. Gulf of Mexico with its Dover well (100% Shell). The Dover discovery is Shell’s sixth in the Norphlet and encountered more than 800 net feet of pay (244 meters). The discovery is located approximately 13 miles from the Appomattox host and is considered an attractive potential tieback. Shell’s Appomattox host has now arrived on location in the U.S. Gulf of Mexico and is expected to start production before the end of 2019. read more

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    Climate Change Warriors’ Latest Weapon of Choice Is Litigation

    By Jeremy Hodges, Lauren Leatherby and Kartikay Mehrotra
    May 24, 2018

    In the global fight against climate change, one tool is proving increasingly popular: litigation.

    From California to the Philippines, activists, governments and concerned citizens are suing the biggest polluters and national governments over the effects of climate change at a break-neck pace.

    “The courts are our last, best hope at this moment of irreversible harm to our planet and life on it,” said Julia Olson, an attorney for Our Children’s Trust, a legal challenge center in the U.S. that is involved in climate change litigation across 13 countries, including the U.S., Pakistan and Uganda. read more

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    Nigeria: Shell’s Oil Spill Dispute With Nigerian Villagers Back in UK Court

    Nigeria: Shell’s Oil Spill Dispute With Nigerian Villagers Back in UK Court

    Lawyers for the Bodo community in Ogoniland of Rivers State, which was devastated by two major oil spills in 2008, went to court in London yesterday to fend off what they said was an attempt by Shell to kill off their litigation.

    This is coming as crude oil price rose briefly to $80 per barrel yesterday after the United States toughened its stance on Iran and Venezuela, key oil producers and members of the Organisation of Petroleum Exporting Countries (OPEC).

    The Bodo oil spills have been the subject of years of legal wrangling. read more

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    City heavyweights head for Putin’s business forum

    The chief executives of some of the biggest British-listed companies are set to travel to Russia this week for a business forum hosted by President Putin, despite simmering tensions over visas and US sanctions against the country.

    The oil bosses Bob Dudley, of BP, and Ben van Beurden, of Royal Dutch Shell, are scheduled to speak at the St Petersburg Economic Forum on Friday. Ivan Glasenberg, chief executive of Glencore, the mining and commodities group, and Xavier Rolet, former chief executive of the London Stock Exchange, are also due to take part. read more

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    Shell confirms award of 39 North Sea exploration blocks

    Shell confirms award of 39 North Sea exploration blocks

    Written by

    Oil giant Shell today confirmed it had acquired 39 North Sea exploration blocks as a part of the 30th Offshore Licencing Round.

    In a statement, Shell said that the 39 blocks break down as 11 operated and 28 non-operated blocks within the North Sea.

    Data from the Oil and Gas Authority (OGA) shows that Shell has acquired two operational blocks within the west of Shetland, five within the Central North Sea (North) and further four within the Central North Sea (South).

    A Shell spokesperson said “Shell UK can confirm that on 23 May 2018, we were awarded 39 exploration blocks, 11 operated and 28 non-operated, by the UK Oil and Gas Authority (OGA) in the 30th UK Licensing Round. The acreage was applied for on 21 November.” read more

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    Shell Sees Off Controversial Votes on Climate Change, CEO Pay

    Photographer: Andrey Rudakov/Bloomberg

    Kelly Gilblom: 22 May 2018, 14:48 BST

    Royal Dutch Shell Plc has seen off the two most debated issues at its shareholder meeting — the boss’s pay and responsibility in tackling climate change. But not without a degree of drama.

    The company won the backing of about 94 percent of shareholders to not set specific emission-reduction targets, with Chief Executive Officer Ben van Beurden saying it is taking “leadership” on the issue. However, while almost 75 percent of investors also approved the remuneration report, it faced stiffer resistance after an influential advisory firm asked them to reject the package. read more

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

    Large investors ask Shell to set targets to comply with Paris climate accord

    May 22, 2018

    A group of 26 large institutional investors have petitioned Shell to formulate concrete goals in its effort to address the terms of the Paris climate accord.

    The 26 investors, which have a total of $7.8trn under management, presented a statement to the Anglo-Dutch energy giant during Shell’s AGM in The Hague. The group of  26 includes HSBC Global Asset Management, AXA Investment Manager, Aegon, Calpers en MN.

    In its statement, the investors applauded Shell’s ambition to reduce its carbon footprint by 50% and called on other oil and gas companies to follow suit. read more

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