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Big Oil is under pressure, unloved and on sale. 

  • Norway wants to dump its stakes in oil and gas companies
  • Proposal adds to doubts over industry’s long-term outlook

Big Oil is under pressure, unloved and on sale.

Energy giants from Exxon Mobil Corp. to Royal Dutch Shell Plc are struggling back to their feet after a three-year oil slump, while also fighting to prove they can survive for decades to come amid an accelerating shift to clean energy. So getting dumped by the world’s biggest investment fund wouldn’t be welcome news.

Norway’s $1 trillion sovereign wealth fund said on Thursday that it wants to sell about $35 billion of shares in oil and gas companies to make the nation “less vulnerable” to a drop in crude prices. Global energy giants favored by long-term investors including Italy’s Eni SpA, PetroChina Ltd. and Russia’s Gazprom PJSC account for more than $20 billion of that total. read more

Shell and AT&T Sign Global Networking Agreement

THE HAGUE, Netherlands, Nov. 16, 2017 /PRNewswire/ — AT&T* and Shell have signed an agreement for the provision of managed communications and network integration services for Shell globally. The agreement aligns with Shell’s strategy to transform its complex IT operations by adopting more market standard services and fosters the current relationship between the two companies for 5 ½ more years.

AT&T global integrated network solutions are available in countries that represent 99% of the world’s economy. Multinational businesses depend on AT&T’s advanced networking expertise to support their business around the globe. This is especially true for companies with a global footprint like Shell that includes many sites operating in difficult-to-access locations and/or under harsh weather conditions. read more

When Will Royal Dutch Shell Raise Its Dividend?

Aristofanis Papadatos: Nov 16, 2017

Summary

  • Royal Dutch Shell has not cut its dividend since World War II.
  • However, the company has paid the same dividend for 15 consecutive quarters.
  • Therefore, the big question is if and when its shareholders should expect the next dividend hike.

Royal Dutch Shell (RDS.A) (NYSE:RDS.B) offers a generous dividend yield, which currently stands at 5.9%. Nevertheless, the oil major has paid the same dividend for 15 consecutive quarters. Therefore, as most of its shareholders are holding the stock for its dividend, it is only natural that they wonder if and when they should expect the next dividend hike.

First of all, Shell has an enviable record in dividend payments to its shareholders. To be sure, the company has not cut its dividend since World War II. This achievement certainly confirms the exceptional business performance of the company. However, the company has markedly slowed its dividend growth rate during the last decade, as it has raised it by only 2.7% on average during this period. read more

Ohio officials visit Beaver County to learn about Shell cracker plant

Officials in Belmont County, Ohio, are eagerly awaiting a final investment decision on a cracker plant that could be built there but, in the meantime, they are learning everything they can from local officials who’ve already been through the process.

Officials in Belmont County, Ohio, are eagerly awaiting a final investment decision on a cracker plant that could be built there, but in the meantime, they are learning everything they can from local officials who’ve already been through the process. read more

World’s Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.  

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

“Our perspective here is to spread the risks for the state’s wealth,” Egil Matsen, the deputy central bank governor overseeing the fund, said in an interview in Oslo. “We can do that better by not adding oil-price risk.” read more

Norway shakes oil world by dumping investments

Norway is western Europe’s biggest oil producer and its giant sovereign wealth fund wants to reduce its exposure to oil which hit shares in BP and Royal Dutch Shell. Oil platforms in the Cromarty Firth, ScotlandANDREW MILLIGAN/PA

Norway’s giant sovereign wealth fund has unveiled plans to dump its entire holding in oil and gas companies in a $37 billion sell-off that was welcomed by campaign groups but put downward pressure on share prices. The $1 trillion fund, which manages the assets of the oil-rich nation, signalled its intent to prune its exposure to companies including BP and Royal Dutch Shell in a move aimed at making it less vulnerable to a permanent drop in the price of crude. SOURCE read more

Activist warns of cracker plant consequences

Mark Dixon discussed the hazards of having an ethane cracker plant close to Pittsburgh during a talk in the William Pitt Union Assembly Room Wednesday evening. (Photo by Issi Glatts | Staff Photographer)

Remy Samuels: Staff Writer: November 16, 2017

When Mark Dixon found out Shell Oil Company planned to build a petrochemical plant in nearby Beaver County, he immediately thought of the pollution and environmental devastation that would soon take place there.

“It really pissed me off,” Dixon said. read more

Shell to pay for cost of acquiring buffer property near cracker site

Shell Chemicals is in the process of paying for the acquisition of a piece of property that would serve as a buffer between the $6 billion ethane cracker plant in Potter Township and nearby industrial properties.

Jim Palmer, president of the Beaver County Corporation for Economic Development, said CED is acquiring about 54 acres that sit between the Shell site and the BASF and NOVA Chemicals properties.

The sale of the land, currently owned by the Lyondell Environmental Custodial Trust, is expected to close later this month. Palmer on Tuesday declined to disclose the sale price.

While Shell isn’t technically the buyer of the land, the company is underwriting the cost of CED acquiring the land. Under the agreement, CED will retain ownership but will sign a land covenant stating that no development of any kind can take place on the property. read more

One person injured after heavy oil leak at Shell Scotford northeast of Fort Saskatchewan

CATHERINE GRIWKOWSKY: 15 November 2017

One person was injured and the Shell Scotford site was evacuated for several hours after a heavy oil mixture leak on Wednesday afternoon.

The “hydrocarbon release” happened around 12:30 p.m. inside a processing unit at the Scotford Facility near Fort Saskatchewan, according to a statement sent by Tara Lemay on behalf of Shell. The all-clear was sounded at 6:30 p.m.

One person reported a minor injury and all non-essential personnel were moved off-site as a precaution, the statement said. All personnel were accounted for. read more

Employees relocated after ‘hydrocarbon release’ at Scotford upgrader outside Edmonton

Emergency crews were called to respond to a hydrocarbon release at a Shell Canada’s Scotford upgrader facility northeast of Fort Saskatchewan on Wednesday afternoon. Craig Ryan/ Global News

Emergency crews were called to respond to a hydrocarbon release at a Shell Canada facility northeast of Fort Saskatchewan on Wednesday afternoon.

The company said the incident unfolded at its Scotford upgrader facility which processes crude bitumen. Late Wednesday afternoon, Shell confirmed an alarm was sounded and personnel were “relocated away from the incident as a safety precaution.” read more

About 75,000 bpd of Gulf oil output still shut after Shell fire

Bryan Sims: NOVEMBER 15, 2015 HOUSTON (Reuters) – A combined 75,206 barrels per day (bpd) of oil and 215,122 million cubic feet per day of natural gas production are shut-in at four platforms in the wake of a Nov. 8 fire at Royal Dutch Shell’s (RDSa.L) Enchilada platform, according to U.S. government data.

The figures include Shell’s Enchilada, Salsa and Augers platforms in the Gulf of Mexico, as well as Hess Corp’s (HES.N) Baldpate platform and Hess-operated Conger field, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE).

Shell holds a 37.5 percent share in the Conger field.

Hess temporarily abandoned production at its Baldpate, Conger and Penn State fields, according to the company, adding that production coming through its Garden Banks Gas Pipeline system will be closed until further notice. read more

Shell’s Appomattox production platform

The big picture: The giant of the Gulf

10/12 INDUSTRY REPORT STAFF |

HALFWAY AROUND THE WORLD

In October, Ingleside, Texas, welcomed the hull of Shell’s Appomattox production platform, floating aboard a massive heavy-transport vessel, after its journey from halfway around the world. Construction of the host facility for Shell’s pioneering development will be completed in Ingleside after fabrication of the hull in South Korea. Shown here is the departure from South Korea.

BEHEMOTH ON THE SEA

A deepwater oil and gas development that will become Shell’s largest floating platform in the Gulf of Mexico, the sizeable host will tower 20 stories above the sea, float in 7,400 feet-deep waters (that’s five Empire State Buildings), span approximately three football fields across, and weigh more than the world’s largest naval aircraft carrier (125,000 metric tons). read more

Dutch PM to defend tax cut seen benefiting Shell, Unilever, British investors

Toby Sterlng, Bart H. Meijer: NOVEMBER 15, 2017

AMSTERDAM (Reuters) – Dutch prime minister Mark Rutte was in parliament on Wednesday for a second time to defend a tax cut that benefits Anglo-Dutch multinationals Royal Dutch Shell and Unilever, as well as British equity investors in general.

Rutte’s unexpected decision to scrap the 15 percent dividend withholding tax has played into resentment at firms that many politicians on the left already view as being taxed too lightly.

Populist Geert Wilders has loudly questioned why the Dutch should approve a measure that benefits foreigners. read more

UPDATE 2-Dutch court rejects government’s Groningen gas production plan

Wednesday’s decision was met with jubilation from Groningen citizens, many of whom have seen their houses damaged by the thousands of small earthquakes triggered by the gas extraction.

By Bart H. Meijer: NOVEMBER 15, 2017

THE HAGUE, Nov 15 (Reuters) – The highest Dutch administrative court has rejected the government’s plan to cap production at a major gas field that has caused damaging earthquakes, saying it might be possible to cut output further without endangering supplies.

The decision adds another chapter to the long fight over gas production in the northern Dutch province of Groningen, where citizens accuse the government of endangering their lives while protecting gas revenues. read more

Government’s Groningen gas production plan rejected by advisory council

Nov. 15, 2017 7:55 AM ET|By: , SA News Editor The Netherlands’ top administrative court rejects the government’s plan to cap production at the Groningen gas field and orders a new decision on how much gas can be extracted from the field where drilling has triggered minor earthquakes. The government had proposed capping production at 21.6B cm/year over the next five years, down from 24B cm in the production year just ended and 39.4B cm in 2015-16; the court orders the government to review its decision within the next 12 months, but production may be maintained at 21.6B cm for the year through Oct. 1, 2018. NAM, the joint venture between Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) that operates the Groningen field, says it is studying the ruling.

SOURCE

RELATED

DutchNews.nl: Gas group NAM says more serious earthquakes will hit Groningen: 1 October 2014

EnergyVoice.com: Quakes force Dutch lawmakers to cut gas production: 11 March 2015

Bloomberg: Dutch Quakes Toss Wrench Into Gears of Europe Gas Market: 10 March 2015

Devastating report of a scary scenario: 07 March 2015

Dutch government says sorry for quakes caused by Groningen gas field: 02 March 2015

Reuters: Bells toll for Europe’s largest gas field: 02 March 2015

Groningen Gas Field Shock: Risk of earthquakes at 4.6 on the Richter scale: 24 Feb 2015 read more

Shell Says Yes To Free Cash Flow, No To Debt

Callum Turcan: Nov 15, 2017

Summary

  • Royal Dutch Shell generates free cash flow in Q3.
  • Outlook for Q4, even in light of impending capex increase, looks bright due to Brent rallying.
  • Over $10 billion in net debt reduction since the end of Q3 2016.
  • Overview of Q3 results and what to expect going forward.

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has come a long way since it bottomed out in early-2016. Its latest earnings report reinforced the notion that when Brent is trading in the $50s, Shell’s cash flow position becomes balanced. Cash flow neutrality is the key breakeven point for the industry in the current environment, as oil & gas giants need to show that they can cover capital expenditures and large dividends through organic means at realistic prices. Let’s check out how Royal Dutch Shell did in a low $50s Brent world, with an eye on organic cash inflows and outflows. read more

Public Health Researcher Issues Dire Warning Over Proposed Ethane Cracker Plant

: 14November 2017

A public health researcher delivered a dire warning on Monday during a panel on the implications of the planned Royal Dutch Shell ethane cracker plant in Beaver County.

“When we allow industry to get way out in front of public health and environmental oversight, we end up counting bodies,” said Dr. Brian Schwartz of the Geisinger Center for Health Research in Montour County.

Schwartz studies how environmental changes caused by energy exploitation activities, such as fracking, affect public health. He made his comments during the “Shale and Public Health” conference at the University of Pittsburgh Graduate School Of Public Health, an event organized by the League of Women Voters of Pennsylvania. read more

Four Gulf of Mexico oil platforms shut after Enchilada fire: Shell

Reuters Staff: NOVEMBER 14, 2017

LONDON (Reuters) – Royal Dutch Shell said on Tuesday that production at four oil platforms in the Gulf of Mexico has been shut in the wake of a Nov. 8 fire at its Enchilada platform.

“Production is shut in at the Shell-operated Enchilada and Salsa platforms, as well as the associated Hess-operated Conger field,” in which Shell has a 37.5 percent share, it said in a statement.

“In addition, Shell safely shut in all production operations at its Auger platform due to downstream constraints caused by this incident.” read more

Woodside Falls Most in Year After Shell to Sell Stake

Shares falls as much as 3.5% in early Australia trading

Allan Gray Australia says it boosts stake in the LNG producer

Woodside Petroleum Ltd. fell the most in a year after Europe’s biggest oil company, Royal Dutch Shell Plc, said it would offloaded its entire holding in the Australian liquefied natural gas producer for $2.7 billion.

Woodside shares fell as much as 3.5 percent in intraday trading on Tuesday to A$31.10 ($23.74), and changed hands at A$31.19 at 11:51 a.m. in Sydney. Shell said it would sell an 8.5 percent stake in Woodside at A$31.10 a share, a 3.5 percent discount to Woodside’s closing price on Monday. The Anglo-Dutch company then expanded that sale overnight to exit its remaining 4.8 percent holding. read more

Shell to repair damaged portions at Enchilada platform, re-deploy personnel

Reuters Staff: NOVEMBER 13, 2017

(Reuters) – Royal Dutch Shell Plc said it was in the process of developing a plan for repairing the damaged parts at its Enchilada platform and re-deploying personnel following its shutdown after a fire last week.

“On Saturday November 11, an assessment team confirmed isolation of the platform from the 30-inch gas export pipeline and no presence of uncontained hydrocarbons,” a Shell spokesperson said.

The company has no timeline to resume normal operations at the platform, Shell added. read more

Hess shuts Gulf of Mexico assets after Enchilada fire

Reuters Staff November 13, 2017

(Reuters) – U.S. oil and gas producer Hess Corp said on Monday it had halted production at its Baldpate, Conger and Penn State fields due to a fire at Royal Dutch Shell’s Enchilada platform in the Gulf of Mexico.

Last week, Shell shut its Enchilada platform after a fire caused injuries to two people.

Production is also shut in at the Shell-operated Llano field, where Hess has a 50 percent stake, Hess said.

The fields produce about 30,000 barrels of oil equivalent per day. read more

Shell to begin drilling in Brazil’s Gato do Mato block in 2019

Alexandra Alper: NOVEMBER 13, 2017 RIO DE JANEIRO (Reuters) – Royal Dutch Shell Plc’s Brazil chief said on Monday that the oil major plans to begin drilling in 2019 in an offshore block in the coveted pre-salt layer that it won in an auction last month with France’s Total. “We already drilled in the area. We know how to do it. We have the experience. So it is just about putting in place everything that we already have in order to not waste time,” Andre Araujo, Shell’s Brazil unit head, told reporters on the sidelines of an event in Rio de Janeiro.

The block, South Gato do Mato, is adjacent to a prospect that Shell and Total are already exploring jointly. Shell is operator in both areas with an 80 percent stake.

Araujo said it was too soon to forecast when the first oil might be produced there, but reiterated that the company is committed to investing an average of $2 billion a year in Latin America’s top economy through 2020.

Shell won half the blocks awarded in Brazil’s deepwater auction in October in a historic opening of the pre-salt play to foreign operators. Billions of barrels of oil are trapped below thousands of feet of salt in the country’s Atlantic waters. read more

Why Energy Giants Will Continue to Dominate LNG Market

Trade in the $90 billion market for the superchilled gas is poised to double by 2040: Photographer: Tomohiro Ohsumi/Bloomberg 

Total SA’s billion-dollar deal to buy liquefied natural gas assets from Engie SA shows how much size matters in the industry. 

After Royal Dutch Shell Plc’s takeover of BG Group Plc last year, industry consultant Wood Mackenzie Ltd. says the latest accord is evidence that the biggest energy companies with access to large volumes of diverse supplies will continue to dominate, even as commodity traders from Glencore Plc to Trafigura Group Pte are expanding.  read more

Shell standing down emergency response over Gulf fire

Written by

Shell has stood down its emergency response activities over a fire on its Enchilada platform in the Gulf of Mexico.

On Saturday an assessment team confirmed the isolation of the platform from the 30-inch gas export pipeline which was thought to be at the centre of the blaze which broke out last week.

The team also found no presence of ‘uncontained’ hydrocarbons.

The supermajor is in the process of developing a plan for repairing the damaged portions of the asset and re-deploying personnel. read more

Hess Issues Statement on Impact from Incident at Shell Enchilada Platform in Gulf of Mexico

November 13, 2017 07:31 AM Eastern Standard Time

NEW YORK–(BUSINESS WIRE)–Hess Corporation (NYSE: HES) released a statement today about the impact on its operations resulting from a fire at the Shell Enchilada platform in the Gulf of Mexico. Shell advised in a statement on Nov. 12 that a plan for repairing the damaged portions of the asset is being developed. All production coming into the Garden Banks Gas Pipeline system also remains shut in until further notice.

Hess production is shut in at its Baldpate, Conger and Penn State Fields. Production is also shut in at the Shell-operated Llano Field (Hess 50 percent interest). Hess production at these fields is approximately 30 thousand barrels of oil equivalent per day. read more

Shell Brazil looking for partnerships in new energy

Reuters Staff: NOVEMBER 13, 2017

RIO DE JANEIRO, Nov 13 (Reuters) – Royal Dutch Shell PLC’s Brazil chief said on Monday the company is seeking partnerships in new energy.

Shell Brazil Chief Executive Andre Araujo made the remarks at an event in Rio de Janeiro. (Reporting by Alexandra Alper, writing by Jake Spring; Editing by Alden Bentley)

SOURCE

Shell to sell part of its Woodside Petroleum stake for $1.7 billion

Reuters Staff: NOVEMBER 13, 2017

LONDON/SYDNEY (Reuters) – Royal Dutch Shell is selling part of its stake in Australia’s largest independent oil and gas company, Woodside Petroleum Ltd, to equity investors for about $1.7 billion.

Shell, which has been slowly divesting its Woodside holding, said on Monday its Shell Energy Holdings Australia Limited (SEHAL) unit had struck a deal with two investment banks over the sale of 71.6 million Woodside shares for A$31.10 ($23.79) apiece. read more

Shell’s LNG Strategy A Great Complement To Overall Operations

Zoltan Ban: Nov 13, 2017

Summary

  • LNG is set to see robust growth on the back of growing global dependence on natural gas. The LNG industry will provide more supply security, which will be increasingly desired.
  • Shell has become a global leader in LNG, after the BG merger.
  • The advantage of investing in Shell as a way to play the LNG growth story is the fact that its downstream segment will act as a hedge in bad times.

Beyond the recent hype created by the Saudi events, there is a trend of steady and sustainable advance in the price of oil, which I believe is likely to continue for as long as the current global economic cycle that started with the 2009 economic recovery is going to persist. In fact, I believe that the trigger for the next economic downturn will be an oil price spike, perhaps very similar to what we saw in the 2007-2008 period. This is how I saw the situation play out back in late 2015, which is when I decided to buy Shell’s (RDS.A) (NYSE:RDS.B) stock, along with Chevron (CVX) and Suncor (SU). It is a long-term bet on a trend that I am certain will happen, although the timing of it was never something I was as certain of, which is why I opted to buy only solid names, with a diverse portfolio of projects. read more

Corporate ‘speech’ is drowning out citizen activists

By financial journalist LEWIS BRAHAM

At the more than 10-hour “public hearing” on the construction of the Shell petrochemical plant in Potter Township last December, I waited eight hours to speak for five minutes about the plant’s environmental risks. The meeting was so long and grueling that one of my colleagues at Allegheny County Clean Air Now collapsed and had to be helped by emergency medical technicians. She didn’t get to testify, nor did many local Beaver County residents who left in frustration before they had the chance. read more

Parts of multi-billion dollar Shell Oil project being constructed in Port of Iberia

Published: Updated:

PORT OF IBERIA (KLFY) – Shell Oil is in the process of conducting one of its largest projects across the globe and a big part of that project was completed right here in Acadiana.

Dynamic Industries, a fabrication company operating in the Port of Iberia, has recently been building large modules for the past two years as part of a larger Shell Oil project.

“It’s part of Shell Oil’s Appomattox project, the largest project on earth for Shell Oil and it’s about a 17 billion dollar project,” says Craig Romero, Port Director. read more

‘No timeline’ for resuming operations of Shell’s stricken Enchilada rig

Written by

Shell has no timeline for restarting normal operations on a platform which was shut down in the US Gulf of Mexico due to a fire, a news report said.

“Though the structure is visibly sound, crews will continue to determine the integrity of the platform and formulate a plan for damage repair,” the oil major told Reuters.

Shell added there was no oil in the water as a result of the incident.

The fire on the Enchilada facility involved a 30-inch gas export pipeline.

All 46 personnel working at the Enchilada facility were safely evacuated. Two Shell employees were injured. Both have been treated and released from the hospital. read more

Q3 round-up: BP ready to ‘flex’, Shell a good bet to reach divestment target

Written by

Oil majors BP and Shell are closing in on realising key objectives for production and fundraising, an analyst has said.

Speaking after the dust settled on the latest round of quarterly results updates, Iain Armstrong of Brewin Dolphin said Shell should have no problem reaching its divestment target of £23billion for 2016-18.

Shell chief financial officer Jessica Uhl said £15billion worth of asset sales could be chalked up to the divestment programme, which was put in place to help balance the books following the merger with BG Group. read more

As Oil Prices Rise, Global Majors Eyeing Mexico’s Deep Waters

By Adam Williams: 9 November 2017, 21:27 GMT: Updated on 10 November 2017, 05:01 GMT

As the price of oil rises, an international rush is on for Mexico’s untapped deep-water riches.

The who’s who of the oil world — led by Exxon Mobil Corp and Royal Dutch Shell Plc, the world’s two biggest drillers by market value — are lining up to bid in the country’s Jan. 31 deep-water auction. And the interest is international in scope, drawing Chevron Corp. from the U.S., the U.K.’s BP Plc, Norway’s Statoil ASA, France’s Total SA, Australia’s BHP Billiton Ltd, Russia’s Lukoil PJSC and China’s Cnooc Ltd, among others. read more

Dutch government under fire over tax cut favoured by big business

Shell confirmed to Reuters it had sought the change… Shell spokesman Frank van Hoorn said there was nothing secret or nefarious about Shell’s lobbying for the change…

Bart H. Meijer, Toby Sterling: 9 Nov 2017 AMSTERDAM, Nov 9 (Reuters) – The new Dutch government came under fire in parliament on Thursday for scrapping a 15 percent dividend withholding tax, after a national broadcaster NOS said Shell, Unilever, Akzo Nobel and Philips had lobbied for the change.

Shell confirmed to Reuters it had sought the change, while Philips denied it. Akzo Nobel declined to comment. Unilever would not say whether it asked for the change but it “welcomes measures that improve the business climate in countries where we operate.”

Prime Minister Mark Rutte has said the policy will help the country retain its appeal to foreign investors as it cuts other tax perks in response to concerns that Dutch tax policies have helped multinationals avoid paying fair taxes. read more

New North Sea field investment opportunities ‘on the horizon’, Shell boss says

Written by

Opportunities for new North Sea field investment are “beginning to appear on the horizon”, according to Shell UK’s commercial manager Ben Taylor.

The upstream commercial lead for the supermajor’s North Sea operations admitted that there are still many “challenges” facing the industry.

He cited the balancing act of juggling decommissioning older assets with maximising the remaining North Sea reserves as one such test for the sector.

But he said there should be optimism that a change of perception from within industry culture should lead to signs of renewed activity.

Speaking at a business breakfast in Aberdeen, Mr Taylor said: “When you talk across industry there’s an opportunity now for new field investment beginning to appear on the horizon. read more

Anger Seethes on Margins of Historic Oil Cleanup in Nigeria’s Delta

Bodo received support from British law firm Leigh Day, which negotiated a 55 million-pound pollution settlement with Shell in 2015.

Nearly a decade after two catastrophic oil spills in the Niger Delta, a comprehensive cleanup has finally been launched in the southern Nigerian region.

Oil companies and activists hope it will be a blueprint for wider rehabilitation, but other badly polluted communities are unhappy not to be included.

Earlier this month, crews of young men equipped with high-pressure hoses began to attack the crude oil that has blighted the creeks and mangrove swamps in the area where they live.

The workers from Bodo in Rivers State are beginning a three-year project that claims to mark a new approach to cleaning up the delta, the vast polluted swampland that pumps the oil vital to Africa’s largest economy. read more

Shell warned against resuming operations in Ogoni

By Jimitota Onoyume PORT HAR-COURT— 9 November 2017

THE people of Ogoni have again enjoined the Federal Government to ensure that oil giant, Shell Petroleum Development Company, SPDC, does not resume operations in the area.

National Coordinator, Ken Sarowiwa Associates, Chief Gani Tobpa, in a statement in Port Harcourt, Rivers State, also called on companies intending to operate OML 11 to disclose how they will protect Ogoni communities from another round of environmental pollution, adding that they should also indicate how they would create a robust economy for the people. read more

Shell’s LNG Bunker Barge Will Fuel Giant Cruise Ships

By MarEx 2017-11-08 19:53:39

Shell has reached an agreement with Carnival Corporation to provide bunkers for two new LNG-fueled cruise ships, which will be the first of their kind in North America and the largest of any kind in Carnival’s fleet.

The new partnership will provide a major customer for Shell USA’s LNG Bunker Barge, a Jones Act ATB unit that will be operated by Harvey Gulf under charter to Shell. The first-of-its kind vessel will refuel Carnival’s vessels at ports in the U.S. Southeast. Shell is replicating this strategy in Europe, where it has chartered a small LNG bunkering vessel from Victrol that will be based in Rotterdam. read more

A billion US dollars poured into Royal Dutch Shell

One of the two funds poured a billion US dollars into Royal Dutch Shell, the Anglo-Dutch oil and gas company. The Shell Technology Ventures Fund then invested in ‘production and exploration’ technologies, such as innovative oil rigs. The universities have faced protests from staff and students over their investments in fossil fuels in recent years.

Oxford and Cambridge Universities have made secret investments into offshore funds, it was revealed last night. read more

Oil Tumbles as Surprise Stockpile Surge Outweighs Platform Woes

  • Shell shuts Enchilada platform in Gulf of Mexico Wednesday
  • U.S. drillers lift crude production to an all-time high: EIA

Crude went on a roller-coaster ride Wednesday as platform closures in the Gulf of Mexico led futures to spike, while the stubborn increase in U.S. supplies pulled prices back down.

Oil closed 0.7 percent lower in New York after alternating between gains and losses in the session. Multiple platforms in the Gulf of Mexico suspended operations after Royal Dutch Shell Plc shut its Enchilada-Salsa platform due to a fire. While the shutdowns caused shortages, the prevailing mood was set by a government report showing crude stockpiles unexpectedly rose last week, overseas demand shrank and U.S. output hit a record-high. read more

Level 1 event prompts flaring at Shell Monday, ‘No health impacts,’ company says

November 8, 2017

MARTINEZ, Calif. – Shell Martinez Refinery experienced an unspecified “Level 1” event Monday afternoon, forcing the plant to use flaring to combust excess gas, refinery officials said.

Some residents were alarmed to see flames from the stacks, but Ann Notarangelo, external relations manager for Shell Martinez Refinery said the flaring was a proper approach.

“We experienced an operational issue this afternoon about 4:30 p.m.,” she said Monday. read more

Court of Appeal to hear Nigerian villagers’ pollution claims against Shell

November 8 2017

On 21 November 2017, the Court of Appeal will hear an appeal on behalf of over 40,000 villagers from the Ogale and Bille communities from the Niger Delta in the latest stage of their legal battle against the oil giant Shell.

The villagers claim that they have been severely impacted by years of oil pollution from pipelines owned by Shell and that both the London based parent company, Royal Dutch Shell Plc., and its Nigerian subsidiary, Shell Petroleum Development Company of Nigeria, are responsible for the pollution. read more

Anger seethes on margins of historic clean-up in Nigeria’s Delta

Libby George: November 8, 2017 PORT HARCOURT, Nigeria (Reuters) – Nearly a decade after two catastrophic oil spills in the Niger Delta, a comprehensive clean-up has finally been launched in the southern Nigerian region.

Oil companies and activists hope it will be a blueprint for wider rehabilitation but other badly polluted communities are unhappy not to be included.

Earlier this month, crews of young men equipped with high pressure hoses began to attack the crude oil that has blighted the creeks and mangrove swamps in the area where they live.

The workers from Bodo in Rivers State are beginning a three-year project that claims to mark a new approach to cleaning up the delta, the vast polluted swampland that pumps the oil vital to Africa’s largest economy. read more

Oil platform fire in Gulf of Mexico injures 2

Two people were injured Wednesday morning (Nov. 8) in a fire on a Shell oil platform in the Gulf of Mexico, the company said. The remaining 46 workers were safely evacuated.

A Shell spokesman said the fire happened at 1:30 a.m. Wednesday on its Enchilada platform at Garden Banks 128. Shell said it had identified the source of the fire and was “actively responding to the situation.” read more

Reuters: Shell to hand over Iraq’s Majnoon oilfield by next June

Nov. 8, 2017 11:33 AM ET|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) has agreed to exit Iraq’s Majnoon oilfield and hand over its operation to a state-run company by the end of June 2018, Reuters reports, citing two Iraqi oil officials.

The Iraqi officials reportedly said the deal was reached during a meeting between Shell and officials from state-run Basra Oil on Monday at the Majnoon oilfield, which currently produces ~235K bbl/day of oil.

According to the report, Shell will focus its efforts on the development and growth of Iraq’s Basra Gas Co., which is a joint venture between Shell, Mitsubishi and others. read more

Shell starts main construction on Pennsylvania petrochemicals complex

HOUSTON, Nov. 8, 2017 /PRNewswire/ — Shell Chemical Appalachia LLC (Shell) today announced the official start of the main construction phase of its major petrochemicals complex in Potter Township, Pennsylvania. This follows the successful completion of the site preparation and detailed design and engineering work. The final investment decision was taken in June 2016, with commercial production expected to begin early next decade.

The early works program has been a significant project. Work included building bridges, relocating a state highway, improving existing interchanges, repositioning a rail line, and preparing foundations for the new complex. The site is now ready for the main construction to start. read more

Shell Reports Emissions at Deer Park, Texas Facility

By Dan Molinski Dow Jones Newswires

Royal Dutch Shell PLC has reported above-normal emissions from its Deer Park, Texas, refining and chemical facility.

In a statement to the Texas Commission on Environmental Quality, Shell said that on Monday afternoon “a valve on the outlet of Coke Drum 5 failed, allowing the vessel to pressure up and relieve to the flare system. The pressure exceeded the capacity of the flare gas recovery system, allowing vents to be routed directly to the flare.” read more

Peak oil? Majors aren’t buying into the threat from renewables

Ernest Scheyder, Ron Bousso: NOVEMBER 8, 2017 HOUSTON/LONDON (Reuters) – Two decades ago, BP set out to transcend oil, adopting a sunburst logo to convey its plans to pour $8 billion over a decade into renewable technologies, even promising to power its gas stations with the sun.

That transformation – marketed as “Beyond Petroleum” – led to manufacturing solar panels in Australia, Spain and the United States and erecting wind farms in the United States and the Netherlands.

Today, BP (BP.L) might be more aptly branded “Back to Petroleum” after exiting or scaling back its renewable energy investments. Lower-cost Chinese components upended its solar panel business, which the firm shed in 2011. A year later, BP tried to sell its U.S. wind power business but couldn’t get a buyer. read more

Shell partially downmans Brent Bravo due to weather

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Oil major Shell has taken 60 people off the Brent Bravo platform in the North Sea.

The firm said that “poor weather” was impacting delivery of diesel.

This resulted in a partial downmanning as a “precautionary measure”, the operator said.

A spokesperson for Shell UK said: “Shell UK can confirm that 60 personnel from the Brent Bravo platform have returned to shore as a precautionary measure.

“Poor weather has impacted the delivery of diesel and we are working to reinstate supplies as soon as possible, weather permitting.” read more

Shell Gears Up For Peak Gasoline

By Jon LeSage – Nov 07, 2017, 3:00 PM CST

Royal Dutch Shell is hedging its bets over the next two decades with expectations that motor fuel consumption will be diminishing and other markets rising.

Since the oil price plummet it 2014, Shell has transitioned its business model over to refining oil, offering other refined oil products, and producing petrochemicals. The oil giant will produce well beyond gasoline to serve other growing economic sectors, and to offset the role EVs will play by the 2030s. read more

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