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Posts Tagged ‘Woodside Petroleum’

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 sell Australian aviation fuels unit to Viva Energy

Shell to sell Australian aviation fuels unit to Viva Energy

by Angela Macdonald-Smith: 19 December 2016

Royal Dutch Shell has struck a $US250 million ($343 million) deal to sell its local aviation fuels division to Viva Energy in a further slimming down of its downstream operations in Australia.

The sale follows the oil giant’s $2.9 billion divestment of its other refining and fuels activities to Viva in 2014 and comes amid heightened speculation that Shell is getting set to offload its remaining stake in Woodside Petroleum.

The deal, expected to formally close by md-2017, will see the Shell brand still used for the aviation refuelling business under a licensing deal similar to the arrangement Viva has to use the logo for its petrol retailing business. Regulatory approvals still need to be secured. read more

Shell’s Woodside stake sale on cards as oil prices rally


BRIDGET CARTERMergers & Acquisitions Editor Sydney: December 5, 2016

Following Archer Daniels Midland’s sale of its GrainCorp stake on Friday, the next big block trade to watch out for is a $3 billion-odd sale by Shell out of Woodside Petroleum.

Shell has an interest of close to 14 per cent in the business, and the oil price rally last week that triggered a run on Woodside’s shares has many watching the situation.

In 2014, Shell sold a 19 per cent interest in Woodside for $41.35 per share through Citi and Goldman Sachs, and four years earlier, it offloaded a 10 per cent stake at $42.23 in a deal underwritten by UBS. read more

Market keeps watching brief on Shell’s Woodside stake


by Sarah Thompson Anthony Macdonald Joyce Moullakis

With December’s silly season now underway, brokers are left with precious few trading days to launch any significant placements and block trades.

But one stake remains at the top of every firm’s watchlist: Shell’s 13.3 per cent stake in Woodside Petroleum.

Firstly, there’s a motivated seller. The oil giant’s chief financial officer Simon Henry classified the $3.4 billion stake as “available for sale” when he informed investors in August of a change in how Shell classifies its stake in the Australian oil and gas producer. read more

Shipping to become ‘major new sector’ for LNG: Shell


by Angela Macdonald-Smith: 2 November 2016

Demand for LNG as a ship fuel has emerged as a much needed new source of growth in the oversupplied market, with oil giant Royal Dutch Shell giving a bullish assessment of the impact of tighter international rules on maritime emissions.

Shell’s head of integrated gas Maarten Wetselaar told investors in London that between shipping and trucking, the transport sector had become “a major new sector” for the LNG market.

The shipping market and the heavy trucking market together represent about 750 million tonnes of potential LNG demand, about three times the current global LNG supply, Mr Wetselaar said. He signalled that last week’s announcement of new rules on emissions from shipping had made Shell more positive on demand from the sector, noting it was an area where the competition was oil rather than cheap coal. read more

Shell quiz: when is a stake ‘held for sale’ on sale?

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  • The Australian
  • 12:00AM August 2, 2016

BRIDGET CARTERMergers & Acquisitions Editor: Sydney

GRETCHEN FRIEMANNMergers & Acquisitions Editor: Sydney

It’s unlike the CFO of an oil major to be imprecise when it comes to accounting classifications of assets.

Unless maybe he doesn’t mind causing a bit of mischief for a joint venture partner with whom relationships have been less than rosy of late.

Shell finance director Simon Henry set the hares running last week during a second-quarter earnings call when he declared the company’s 13.3 per cent stake in Woodside Petroleum had been reclassified first as “held available for sale” and then “held as an asset for sale”. read more

Royal Dutch Shell stake in Woodside Petroleum ‘held for sale’

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by Angela Macdonald-Smith: July 29 2016

Royal Dutch Shell looks to be heading for an exit from Woodside Petroleum sooner rather than later, after reclassifying its remaining $3 billion stake in the Australian oil and gas producer as an “asset for sale”.

The move appears to be driven by technical reasons because of Shell’s reduced representation on Woodside’s board. But at the same time it may signal a firmer intention to dispose of the circa 13 per cent stake, which Shell has for some time declared as a non-strategic holding. read more

Doubts about $3bn Shell-Woodside block trade

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Bridget CarterMergers and Acquisitions Editor, Sydney

Gretchen FriemannMergers & Acquisitions Editor, Sydney

There was fresh talk in the market last week that a $3 billion block trade by Shell selling out of Woodside Petroleum could be imminent.

However, there were a number of analysts who dismissed the speculation, which they said would have been largely fuelled by the recent rise in the oil price.

They said a more likely deal was an exit by Spark Infrastructure from the $6bn Duet Group, and it could happen sooner rather than later. read more

Samsung Heavy loses $4.6-billion FLNG order from Shell on oil drop

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Screen Shot 2016-04-20 at 13.50.03By KYUNGHEE PARK on 4/28/2016

SUNGNAM, South Korea (Bloomberg) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder, said an order to build three floating LNG production facilities was canceled after the energy development project was scrapped amid a plunge in oil prices.

The contract, valued at 5.27 trillion won ($4.6 billion), from Royal Dutch Shell was voided because of the current difficult market conditions, the Sungnam, South Korea-based company said in a regulatory filing Thursday. The shipbuilder won the deal in June on the condition that the project will start only after the client is ready to proceed. read more

Shell to Chevron Awaiting Demand From LNG Market in `Pause Mode’

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James PatonRebecca Keenan and Dan Murtaugh: April 12, 2016

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The over-supplied LNG market is in hiatus as energy giants from Chevron Corp. to Royal Dutch Shell Plc and Woodside Petroleum Corp. await a surge of demand from countries seeking access to energy.

Liquefied natural gas producers are in “pause mode” as low prices have stalled development of new projects, Woodside Chief Executive Officer Peter Coleman said today at the LNG18 conference in Perth. That respite means that coming years demand will exceed supply, causing prices to rise back to higher levels, Shell CEO Ben Van Beurden said. read more

Australian Energy Giant Woodside Delays Large Offshore L.N.G. Project

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By STANLEY REED: A version of this article appears in print on March 24, 2016, on page B2 of the New York edition

Woodside Petroleum and its partners, including the energy giants Royal Dutch Shell and BP, have decided to delay indefinitely the development of a huge liquefied natural gas project off Western Australia, the company said on Wednesday.

The decision to postpone the project, called Browse, comes as L.N.G. prices in Asia have fallen by around two-thirds since 2014. The slump is attributed to a supply glut set off largely by a building boom and by lower-than-expected demand from major customers like China. read more

Shell awards contracts for its $40bn Browse project

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Written by Rita Brown – 03/07/2015

Shell has awarded the Technip Samsung Consortium two contracts for its $40billion natural gas project in Australia.

Shell’s Browse project covers the installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin.

Shell, which has a 27% interest in the scheme, will use its floating liquefied natural gas (FLNG) technology to leveraging the site’s 15.4 trillion-cubic-feet of gas.

The Technip Samsung Consortium will manage the front-end engineering design (FEED) elements of the Browse FLNG project, taking into account the composition of the gas, local weather conditions and factors specific to each of the three fields. read more

Shell’s Simon Henry won’t rule out write-down on Arrow LNG in Queensland

Simon Henry, CFO, Royal Dutch Shell Plc

Simon Henry, CFO, Royal Dutch Shell Plc

Article by Angela Macdonald-SmithEnergy Reporter, The Sydney Morning Herald: 1 May 2015

Royal Dutch Shell has declined to rule out a write-down of its multibillion-dollar investment in its Arrow Energy natural gas venture in Queensland, depending on decisions taken to develop the gas after the oil major’s $US92 billion ($116.62 billion) takeover of BG Group.

Chief financial officer Simon Henry told investors in London that the Arrow venture, owned equally by Shell and PetroChina, needed to think about “the best way forward to monetise” Arrow gas and create value from its position.  read more

Royal Dutch Shell News Roundup 25 August 2014


Jeroen van der Veer, the former Royal Dutch Shell CEO who evaded responsibility for his role in the cover-up of the Shell reserves fraud, claims that the sanctions against Russia are not working and are counter-productive. This analysis comes from the man who badly misjudged the Putin regime in 2006 and as a result, ended up meekly surrendering Shell’s majority stake in the Sakhalin 2 project. 


The British government has just introduced a rule requiring oil, gas and mining companies registered in the UK to disclose all payments made to the governments of countries in which they operate. The new rule, which comes into force in 2015, is designed to result in greater transparency, something alien to oil companies such as Shell. Problems may arise in relation to Nigeria where Shell has a decades long history of corruption involving a succession of odious regimes. read more

Woodside’s Buyback Deal With Shell at Risk of Being Blocked

Screen Shot 2014-02-10 at 16.29.29Extracts from a Bloomberg News article by James Paton dated 31 July 2014

Woodside Petroleum Ltd plan to buy back shares from Royal Dutch Shell Plc for $2.7 billion is at risk of being rejected by shareholders as it falls short of the votes needed to proceed. The buyback is part of Shell’s deal last month to raise $5 billion trimming most of its 23 percent stake in Australia’s second-largest oil producer. A no vote would leave Shell with a larger, unwanted stake, and add to Woodside’s frustrations after a plan to invest as much as $2.6 billion in an Israeli gas project collapsed, according to Macquarie Group Ltd. read more

Woodside Chairman Defends $2.7 Billion Buyback Deal With Shell

Screen Shot 2014-02-10 at 16.29.29Extracts from a BloombergBusinessweek article by James Paton and Rebecca Keenan published 23 July 2014

Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, defended a plan to buyback about $2.7 billion of stock from Royal Dutch Shell Plc (RDSA) amid concern investors may reject the deal.

Woodside’s buyback is part of last month’s $5 billion deal in which Shell, Europe’s largest oil company, will trim its 23 percent stake in the Australian company. It’s possible that Woodside investors voting on the transaction Aug. 1 will block the buyback, according to Macquarie Group Ltd. read more

Are Asset Sales the Answer for Royal Dutch Shell plc?

Screen Shot 2014-06-23 at 11.37.41Extracts from a Motley Fool article by Arjun Sreekumar published 23 June 2014

On Monday, Shell announced the sale of a 19% stake in Woodside Petroleum, a deal that is expected to raise $5 billion. On Wednesday, the company announced that it had filed a registration statement with the U.S. Securities and Exchange Commission related to the proposed IPO of its pipeline subsidiary, which could raise up to $750 million. Due largely to ill-timed investments in U.S. shale, continued security issues at its Nigerian operations, and its beleaguered drilling program in Alaska’s Chukchi Sea, Shell’s return on capital employed, or ROCE, averaged under 15% from 2008 to 2012. Sales of under performing downstream and upstream North American assets are providing much-needed cash and should help the company gradually improve its return on capital. Overall, the combination of asset sales, reduced spending, and higher cash flow should allow Shell to grow its dividend at a stronger pace over the next few years, assuming commodity prices remain high and assuming that the oil giant can bring new projects online on time and on budget. read more

Shell to sell most of stake in Australia’s Woodside for $5.7 billion

Screen Shot 2014-06-17 at 08.37.28Extracts from a Reuters article by Sonali Paul published Tuesday 17 June 2014

(Reuters) – Royal Dutch Shell launched a long-anticipated sale of most of its stake in Australia’s Woodside Petroleum Ltd on Tuesday, looking to reap about $5.7 billion as it moves to focus on developing its own gas assets in Australia. The selldown, which reduces Shell’s holding to 4.5 percent from 23.1 percent, removes uncertainty that has weighed on Woodside’s share price since Shell sold a third of its stake in 2010 and flagged it was not a long term holder.  The sale, which came the week Woodside’s stock hit a three-year high, had been expected this year after Shell Chief Executive Ben van Beurden took the helm in January outlining plans to sell $15 billion worth of assets. read more

Bears move in on Woodside

Screen Shot 2014-02-10 at 16.29.29Extracts from a Sydney Morning Herald article by Angela Macdonald-Smith published 29 May 2014 read more

Woodside Scraps $2.6 Billion Israeli Gas Deal as Talks Fail

Extract from a BloombergBusinessweek article by James Paton published 20 May 2014

Woodside Petroleum Ltd. (WPL), Australia’s second-biggest oil and gas producer, scrapped an agreement to buy a quarter of Israel’s largest natural gas field for as much as $2.6 billion after talks to complete the deal collapsed.


Woodside CEO Seeks Shell Exit Decision on $6.6 Billion Stake

Extract from Bloomberg News article by James Paton Feb 20, 2014 5:53 AM GMT

Screen Shot 2013-12-22 at 19.09.52Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, pressed Royal Dutch Shell Plc (RDSA) to take action on its A$7.3 billion ($6.6 billion) stake in the company, saying investors want “certainty.” 

Shell’s move to accelerate asset sales to free cash for new projects is seen as increasing the likelihood the Anglo-Dutch company will finally divest its remaining stake in Woodside. The company is trying to win investors’ confidence after its fourth-quarter profit fell to the lowest since 2009.  read more

Woodside may ditch Shell stake

Melbourne Herald Sun Article by John Dagge: 19 Feb 2014

Screen Shot 2014-02-19 at 13.18.45WOODSIDE Petroleum says it has not consulted major shareholder Shell about its foray into Israel — an international push which analysts say complicates the oil giant’s relations with key Arabic customers. Woodside’s move to take a slice of Israel’s Leviathan field — one of the largest offshore gas finds of the past decade — has raised speculation Shell will look to offload its 23 per cent stake in the company to avoid conflicts with major oil producers. Key oil producers and Shell clients, such as Saudi Arabia, have a trading and investment boycott on Israel. read more

Struggling Shell defers Arrow LNG project again

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Screen Shot 2013-12-22 at 19.09.52Angela Macdonald-Smith: February 1, 2014

Royal Dutch Shell has ruled out any commitment this year to the development of its Arrow liquefied natural gas venture in Queensland and signalled a more rigorous approach to other new projects in Australia, where it is also considering big asset sales.

Global chief executive Ben van Beurden would not comment on whether Shell’s remaining $7.4 billion stake in Woodside Petroleum would be among the $US15 billion ($17 billion) of divestments targeted for 2014-15. read more

Royal Dutch Shell to sell North Sea fields as it shifts $15bn assets

ROYAL Dutch Shell could look to sell $15bn worth of assets over the next two years including some North Sea fields, a media report said yesterday, expanding on its existing guidance that divestments would accelerate this year.

Shell, whose new chief executive Ben van Beurden took over two weeks ago, will sell some of its North Sea oil fields as well as parts of its refining portfolio and some early-stage projects, reported the Financial Times, citing a person close to the company.

The oil company, the world’s number-three among investor-controlled energy firms, declined to comment on the report.

Shell and its peers in the industry are facing increasing investor pressure to hold down spending as costs rise and prospects for oil prices wane. read more

Insider rumours circulating that Shell may divest Shell Oil Co

Screen Shot 2014-01-04 at 14.31.56By John Donovan: According to a Shell insider source, rumours are circulating that Royal Dutch Shell Plc may divest Shell Oil Company in order to generate money. And presumably to get rid of the difficult USA influence.  Since Saudi Aramco are joint owners on a 50-50 basis with Shell in Motiva Enterprises, operating three US refineries and 7,700 Shell branded gasoline stations, the Saudis would be the most logical buyer, perhaps followed by Chevron.  read more

Shell eyes $7.4bn Woodside selldown

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ROYAL Dutch Shell’s new chief executive, Ben van Beurden, could move within weeks to order a sale of the oil giant’s unwanted $7.4 billion stake in Woodside Petroleum, a move likely to attract interest from some of the world’s biggest sovereign wealth funds.

More than three years after Shell sold down an initial $3.3bn stake in Woodside, speculation is building that Mr van Beurden, who formally took over from Peter Voser yesterday, will move to sell the remainder of its 23.1 per cent interest in the Perth-based oil and gas producer. read more

Woodside stake may be split if Shell sells out

Bankers say the holding is an obvious selloff candidate for incoming Chief Executive Ben van Beurden, who takes the job on January 1 and will offer strategy pointers on January 30 along with fourth-quarter results.

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LONDON Wed Dec 25, 2013 8:09am GMT

(Reuters) – Royal Dutch Shell’s (RDSa.L) 23.1 percent stake in Australian oil and gas group Woodside Petroleum (WPL.AX) is seen as more likely to be split up and/or sold to institutional shareholders than to go in one piece to a strategic buyer, bankers said.

The holding, worth about $6.4 billion (3.9 billion pounds) and left over from Shell’s abortive attempt to acquire Woodside in 2001, has long been viewed as non-core to Shell.

This year, the Anglo-Dutch company promised to accelerate asset sales to reflate a narrowing cushion between cash inflow and investment spending. read more

Shell Exiting Woodside Opens Door to China Bids: Real M&A

Royal Dutch Shell Plc’s (RDSA) long-awaited sale of its $6.4 billion stake in Woodside Petroleum Ltd. may open the door for Asian buyers to grab a slice of Australia’s second-largest oil and gas producer, or even the whole company.

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By Angus Whitley and James Paton Dec 15, 2013 7:00 PM GMT

Royal Dutch Shell Plc’s (RDSA) long-awaited sale of its $6.4 billion stake in Woodside Petroleum Ltd. may open the door for Asian buyers to grab a slice of Australia’s second-largest oil and gas producer, or even the whole company.

Shell, which said last month it was entering “a divestment phase,” may exit its 23 percent holding in Woodside as soon as 2014 as its importance to Europe’s largest oil company fades, said Nomura Holdings Inc. While Shell may opt to sell the stock back to Woodside and institutional investors, China’s Cnooc Ltd. and China Petroleum & Chemical Corp. might pursue the stake or a full takeover, Morningstar Inc. said. read more

Floating LNG Figures Fly in Face of Woodside Cost Claims

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23 October 2013

The Western Australian government’s economic and industry standing committee said the return on investment achieved via the use of FLNG would be between 12.5 to 13 per cent, conferring an edge of as little as one percentage point compared to the 11.5 percent ROI for onshore processing.

Fran Logan, deputy chairman of the committee, told a hearing in Perth that the figures came from an unreleased submission prepared by “a major organisation” involved with Browse, most likely either lead developer Woodside Petroleum, or joint-venture partner Shell, which already has extensive experience in the development of floating LNG facilities. read more

Woodside’s Partners Back Plan for Browse Gas Project With Shell

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By James Paton: September 02, 2013

Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil producer, said its partners in the Browse project support a plan to use Royal Dutch Shell Plc (RDSA)’s floating liquefied natural gas technology.

Woodside expects to consider starting engineering and design work on the LNG venture in 2014, the Perth-based company said today in a statement. PetroChina Co., BP Plc (BP/), Shell, Mitsui & Co. and Mitsubishi Corp. (8058) are partners.

The offshore option will cost an estimated $46 billion over the life of the Browse project, compared with about $70 billion for an onshore development on the coast of Western Australia, Mark Greenwood, a Sydney-based analyst at Citigroup Inc., said today by phone. read more

Woodside Awaits Israel Court Decision Before Completing Gas Deal

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By James Paton: August 21, 2013

Woodside Petroleum Ltd. (WPL), Australia’s second-biggest oil producer, is waiting for an Israeli court decision later this year before completing a deal to invest in the Leviathan natural gas project.

Israeli’s high court is expected Sept. 17 to consider whether the cabinet’s gas export plan, which affects the Leviathan project, needs to be approved by the parliament, Woodside Chief Executive Officer Peter Coleman told analysts today on a call. A court decision after the hearing is expected in the second half of 2013, he said. read more

Approval for $40bn gas giant at James Price Point ‘unlawful’

  • From: The Australian
  • August 20, 2013 12:00AM

THE development of vast natural gasfields off Western Australia’s Kimberley coast has suffered a setback after the state’s Supreme Court found the environmental approvals for a critical gas-processing hub north of Broome were unlawful.

In an embarrassment for the Barnett government, Chief Justice Wayne Martin yesterday ruled the environmental approvals needed to build a gas hub for Woodside Petroleum’s $40 billion-plus Browse Basin project at James Price Point should be set aside because of conflicts of interest among the environmental watchdog’s board members. read more

Woodside offshore gas push blow to Barnett

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COLIN Barnett’s push to create thousands of construction jobs by keeping the huge Browse gas project onshore has suffered another blow after Woodside Petroleum said it wanted to develop the project using radical floating LNG technology.

Woodside and its joint venture partners are now expected to formally commit within months to using FLNG for the Browse gas fields.

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Woodside to Recommend Floating LNG to Develop its Browse Project

Screen Shot 2013-03-05 at 14.17.28 By James PatonAug 20, 2013 1:12 AM GMT+0100

Woodside Petroleum Ltd. (WPL), Australia’s second-biggest oil producer, will recommend using Royal Dutch Shell Plc (RDSA)’s floating liquefied natural gas technology to its partners to develop the Browse project.

The selection of floating LNG requires the approval of the Browse partners, including BP Plc (BP/), PetroChina Co. and Shell, Perth-based Woodside said today in a statement.

“A compelling case has emerged for floating LNG as the best option for early commercialization” of Browse, off the West Australian coast, Chief Executive Officer Peter Coleman said in the statement. read more

Premier renews attack on FLNG

Premier Colin Barnett has renewed his attack on Royal Dutch Shell’s “unreliable” floating gas processing technology, claiming its susceptibility to cyclones is worrying customers in Asia.

Screen Shot 2013-06-19 at 22.29.32 Peter Kerr, The West Australian June 19, 2013, 7:17 am

Premier Colin Barnett has renewed his attack on Royal Dutch Shell’s “unreliable” floating gas processing technology, claiming its susceptibility to cyclones is worrying customers in Asia.

In a remarkable intervention during Parliament’s Question Time yesterday, Mr Barnett also showed he had refused to accept the loss of a land-based LNG hub at James Price Point. He issued a veiled threat that he would strip Woodside Petroleum and its Browse Basin partners of their State-based gas retention leases next year if they pursued FLNG. read more

Unionists protest against potential loss of jobs

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Hundreds of unionists gathered outside Parliament House in Perth to protest against the potential loss of jobs in the gas industry.

They have blocked all the entrances stopping MPs and staff from entering the carpark.

The Australian Metal Workers Union say a decision by Woodside and Shell to use floating LNG platforms rather than onshore gas processing hubs will cost thousands of jobs.

Woodside recently shelved plans to build a $45 billion gas hub at James Price Point, north of Broome.

It is believed the company is investigating the use of floating LNG technology to process gas from the Browse Basin. read more

Shell pushes floating technology as James Price Point alternative

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WHILE Woodside Petroleum chief executive Peter Coleman declined to publicly debate the prospects of the three stated alternatives to a $45 billion Browse LNG development at James Price Point because it is a joint venture decision, Royal Dutch Shell, his biggest shareholder and the biggest indirect shareholder in the Browse project, was not so circumspect.

Shell, which owns 27 per cent of the Browse project and 23 per cent of Woodside, was quick to declare its preference for development of the project’s big offshore gasfields was through a floating LNG project using Shell technology. read more

Is Shell STILL anti-Semitic?

“So is Shell STILL anti-Semitic, or is it simply because doing business with Israel would upset the rulers of Saudi Arabia, yet another tyrannical regime in bed with Shell? One Country swims in oil. The other doesn’t. Perhaps that has something to do with it?”

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By John Donovan

In March 2011 we published an article under the headline: Is Royal Dutch Shell STILL anti-Semitic?


A Shell insider asked if we were aware that “there is one country in the world that Shell will not do business with?”

This was a reference to Israel. The insider explained events that had led them to ponder the question in our headline.

We suspected that Shell was a racist company. We did not know that it was still anti-Semitic, if that is the case. Israel is not included in the global list of Countries on where Shell does business. I cannot find any reference by Shell to Israel on Shell’s website. There is no reference to anti-Semitism in its Business Principles. It seems to be a taboo subject? read more

Shell Leads LNG Competitors Out to Sea With Biggest Ship: Energy

By Eduard Gismatullin and James Paton on September 19, 2012

For more than a decade, the world’s biggest liquefied natural gas producers led by Royal Dutch Shell Plc (RDSA) plotted how to move their $170 billion industry onto barges at sea to tap remote fields. Now they’re finally doing it.

Shell will forge the hull of a floating LNG plant in South Korea by year-end that will be the world’s largest vessel, weighing six times the biggest aircraft carrier, a Nimitz-class warship. Some 5,000 workers will build the factory to produce LNG off Australia’s northwest coast in a $13 billion project that also will shield Shell from escalating costs it would have to pay at the country’s onshore plants. read more

Royal Dutch Shell flags Australian cost pressure

By Ross Kelly

SYDNEY–A senior Royal Dutch Shell PLC RDS.B -0.08% executive said Wednesday the cost of building energy projects in Australia is becoming “very worrisome” as the European oil giant prepares to decide whether it will spend billions more dollars in the resource-rich nation.

Shell has already committed almost US$30 billion to Australian gas-export projects being built over the next five years. The company’s Australian head, Ann Pickard, said the figure is poised to become US$50 billion if final decisions are made on other projects that Shell has on the drawing board. read more

Exxon, Shell See U.S.-Led Gas Boom Boosting Worldwide Growth

By Dinakar Sethuraman, Rakteem Katakey and Yee Kai Pin on June 05, 2012

Exxon Mobil Corp. (XOM) (XOM), the world’s biggest energy company, and Royal Dutch Shell Plc (RDSA) said a U.S.- led transformation of the natural-gas market will boost the global economy even as oil becomes more expensive.

“Natural gas is quickly becoming a key enabler of economic growth and environmental progress around the world,” Rex W. Tillerson, chief executive officer of Exxon, said at a conference today in Kuala Lumpur. “We are living at a historic moment in the evolution of energy markets. How we respond will shape the quality of life for generations to come.” read more

Shell CEO Sees No Urgency to Sell $6 Billion Woodside Stake

By James Paton on June 05, 2012

Royal Dutch Shell (RDSA) Plc, Europe’s largest oil company, sees no urgency over what to do with its $6 billion stake in Australia’s Woodside Petroleum Ltd. (WPL), Chief Executive Officer Peter Voser said today.

“We are under no urgency or pressure to do anything,” Voser told reporters today in Kuala Lumpur, where he’s attending an industry conference. “Woodside has an interesting growth model in terms of projects and has strategic value.”

Woodside, Australia’s second-largest oil and gas producer, has slumped in Sydney trading since The Hague-based Shell sold 10 percent of the company at A$42.23 a share in November 2010. Shell still owns 23 percent of the Perth-based company, valued at A$6.1 billion ($6 billion) today. Woodside rose 4 percent today to A$32.10 at 2:24 p.m. in Sydney. read more

Australia’s Woodside not looking to buy back Shell stake

MELBOURNE | Mon May 28, 2012 2:34am BST

(Reuters) – Woodside Petroleum (WPL.AX), Australia’s largest oil and gas company, said it is not considering buying back Royal Dutch Shell’s (RDSa.L) 24 percent stake in the company, despite a recent share price drop.

Chief Executive Peter Coleman said the company would consider share buybacks if it was considering returning capital to shareholders, but said Shell had not approached it to buy back the stake.

“I don’t see us specifically targeting Shell’s equity in that instance,” Coleman told analysts and investors at a briefing. read more

Shell to sell 24% stake in Woodside

The share price of oil and gas firm Woodside dipped on Friday after oil major Shell announced it would sell its stake in the Australian company.

By: Esmarie Swanepoel

3rd February 2012

PERTH ( – The share price of oil and gas firm Woodside dipped on Friday after oil major Shell announced it would sell its stake in the Australian company.

Royal Dutch Shell CFO Simon Henry said overnight that its 24.27% stake in Woodside no longer fitted the company’s long-term plans, and would be sold when the time and price was right.

The oil and gas major said that divestments were expected to reach between $2-billion and $3-billion in 2012.

In its upstream portfolio, Shell was expecting some 250 000 barrels of oil equivalent a day of asset sales and licence expiries over the 2012/17 timeframe, and assuming that these impacts played out, oil and gas production was expected to average some four-million barrels of oil equivalent a day in 2017/18, an increase of some 25% from the 2011 levels of 3.2-mllion barrels of oil a day. read more

Woodside Petroleum: To Shell or Not to Shell?

NOVEMBER 8, 2011

By Gillian Tan

It’s been a year to the day since Royal Dutch Shell blindsided Australia’s largest oil and gas company Woodside Petroleum by selling down a 10% stake for A$3.3 billion (US$3.4 billion).

Appeasing Woodside, Shell promised to hold onto its remaining 24.27% interest for a year unless a takeover offer or a strategic buyer surfaced.

Given that no industry interest arose even when stock fell to a three-year low below A$30 (US$31.08), analysts believe the only way Shell can divest is to return to the market. read more

Shell goes with refining flow – all downhill

Illustration: Simon Letch

Wednesday, April 13, 2011

The news that Royal Dutch Shell has bitten the bullet on its oil refining plant in NSW, Clyde Refinery, should come as no surprise. The economics of refining fuel are not what they used to be.

For Shell in particular its move to pull back from this business is in keeping with a worldwide spring cleaning exercise that has resulted in it selling down its stake in Woodside Petroleum. The sale of the remainder of this 24 per cent stake is inhibited only by its ability to find an appropriate buyer and an attractive price. read more

Shell plays tough with BHP over Woodside deal

Woodside liquefied natural gas platform in the Timor Sea Source: The Australian

Matt Chambers April 11, 2011

ROYAL Dutch Shell is playing hardball on a possible sale of its 24 per cent stake in Woodside Petroleum to BHP Billiton, its local chief declaring yesterday that Shell was in “no hurry” to do a deal.

Speaking on the sidelines of a conference in Perth last night and ahead of this week’s annual Australian Petroleum Production & Exploration Association meeting, Shell Australia chair Ann Pickard moved to hose down reports out of London at the weekend that a sale of its stake in the Perth-based oil and gas company was imminent. read more

Shell to use Woodside stake sale to fund its own projects

February 23, 2011

SHELL Australia chairwoman Ann Pickard says the Anglo-Dutch giant is selling down its major stake in Woodside Petroleum so it can use the money to develop its own suite of projects in Australia.

But Ms Pickard yesterday brushed off questions about whether Shell would soon sell its remaining $8 billion Woodside shareholding to a strategic investor after its shock move last November to reduce its stake from 34 per cent to 24 per cent.

The sale angered Woodside chief executive Don Voelte and chairman Michael Chaney because they were not given advance notice. read more

Shell: Prelude FLNG Go-Ahead ‘Next Few Months,’ More Planned

FEBRUARY 22, 2011

PERTH (Dow Jones)–Royal Dutch Shell PLC (RDSA) said Tuesday that it expects to sign off on its first floating liquefied natural gas project within months, and plans to build at least six FLNG plants around the globe.

Shell hopes to take a “final investment decision in the next few months” on the company’s multibillion-dollar Prelude FLNG project offshore northwestern Australia, Shell Australia Chairman Ann Pickard, told a business event in Perth. read more

Royal Dutch Shell discusses plans for 24% stake in Woodside Petroleum

21 Feb 2011

Woodside: despite the sell-offs chief executive Don Voelte maintains relations are still good between the two companies

Anglo-Dutch oil giant Royal Dutch Shell is in talks with Woodside Petroleum about what it plans to do with its remaining 24% stake in the company after catching Australia‘s largest oil and gas producer on the hop last November when it sold off a big chunk of the company.

Shell sold a £1.67 billion stake – equivalent to a third of its holding, last year, reportedly angering Woodside‘s board and triggering speculation that Woodside could fall to a takeover. read more

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