Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘January 20th, 2014’

Shell to Sell Stake in Australian Gas Field

Screen Shot 2013-01-23 at 13.17.19“All too often, Shell’s answer to an issue or problem is that the market is being too short term; that Shell takes the long term view, and that in the long term, the company’s approach will be proved right,” Lucas Herrmann, an analyst at Deutsche Bank in London, wrote in a note to clients on Monday. “Sadly, we would argue that the weight of evidence is, if anything, against the company.’’: Mr. Rats estimates that Shell will have to sell $14 billion worth of assets over the next two years to keep its commitments on reining in capital spending. He forecasts that it will sell oil fields in the North Sea, where it owns a smorgasbord of stakes in oil and natural gas fields; in Nigeria, where Shell’s production has been cut by unrest; and in North America, where the company has been losing money.

Screen Shot 2013-01-24 at 21.49.23

By STANLEY REED: JAN. 20, 2014

LONDON — Royal Dutch Shell said on Monday that it would sell its minority interest in an Australian liquefied natural gas project to the Kuwait Foreign Petroleum Exploration Company for about $1.1 billion.

The sale is likely to be one of many in the oil industry this year, as companies try to raise cash for other projects or to finance share buybacks and higher dividends.

Even though global oil prices are relatively high, with Brent crude trading at about $106 a barrel, profit at many oil companies has been disappointing and the stock performance of some companies, including Shell, has been lackluster. Shares of Shell were slightly lower on Monday afternoon in London. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Feds ask Shell for assurances on Arctic drilling

Screen Shot 2013-11-01 at 09.31.18WASHINGTON — Federal regulators scrutinizing Shell’s bid to resume Arctic drilling next summer are pressing the company for more evidence it has fixed the problems that plagued its last search for black gold in the region.

Screen Shot 2013-09-25 at 00.00.59

Posted on January 16, 2014 at 5:19 pm by Jennifer A. Dlouhy

WASHINGTON — Federal regulators scrutinizing Shell’s bid to resume Arctic drilling next summer are pressing the company for more evidence it has fixed the  problems that plagued its last search for black gold in the region.

In November, Shell Oil formally asked the Interior Department’s Bureau of Ocean Energy Management for permission to finish drilling one exploratory well and bore four others at its Burger prospect in Alaska’s Chukchi Sea, using a newly leased drillship to replace the Kulluk conical drilling unit that ran aground in 2012. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Announces Sale of Wheatstone LNG Stake in Australia

Screen Shot 2013-01-14 at 08.32.03

January 20, 2014, 3:29 a.m. ET

THE HAGUE, the Netherlands, January 20, 2014 /PRNewswire/ —

Royal Dutch Shell plc (“Shell”) (NYSE: RDS.A)(NYSE: RDS.B) today announced it has agreed to sell its 8% equity interest in the Wheatstone-Iago Joint Venture and 6.4% interest in the 8.9 million tonnes per annum Wheatstone liquefied natural gas (LNG) project in Western Australia for a cash consideration of US$1,135 million to the Kuwait Foreign Petroleum Exploration Company (KUFPEC), subject to closing. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Tehran officially invites Shell, BP to invest in Iranian oil projects

Screen Shot 2014-01-20 at 13.58.14

By Rahim Zamanov – Trend: Baku, Azerbaijan, Jan. 17

Iranian Oil Minister Bijan Namdar Zanganeh has formally invited giant British oil companies, Royal Dutch Shell and British Petroleum, to take part in the country’s oil and gas projects, Iranian Mehr News Agency reported on Jan. 17.

The British companies say they will return to Iranian projects once the sanctions imposed on the country’s oil and gas sector are completely lifted.

Shell and BP are on top of the list of Iran’s oil debtors, according to Mehr News Agency. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s higher risk for lower returns

Screen Shot 2014-01-20 at 13.50.30

Stephen Bartholomeusz: 20 January 2014

Shell had previously flagged a major spring cleaning program under which it plans to sell at least $US15 billion of assets over the next couple of years, with its residual 23 per cent stake expected to be offloaded imminently.

Its Geelong refinery and potentially its retail business are also up for grabs and today, perhaps in keeping with a more cost and capital-conscious approach, the Shell-PetroChina Arrow Energy joint venture cut more than 200 jobs. The prospect of the joint venture proceeding with its proposed coal seam gas-fed LNG plant at Gladstone – where three other $20 billion-plus plants are well underway – is fading fast. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The destabilisation of Royal Dutch Shell gathers pace

Screen Shot 2014-01-20 at 15.21.18While speculation still swirls about the unexpected early exit by Peter Voser and the abrupt departure by Peter Rees, we can now add the name of Andy Brown to the mystery about the seismic developments and uncertainty that has engulfed Royal Dutch Shell Plc. 

By John Donovan 

Three weeks ago I published an article under the headline Voser wisely abandons an unstable ship.

I listed some of the factors that led me to make that assessment.

Since then the destabilisation of Royal Dutch Shell has gathered pace with the profits warning that shocked the markets on Friday. 

Today, Shell made an announcement about Andy Brown, the third exit (in his case extended medical leave after heart surgery) from the committee of executive directors in as many weeks.

While speculation still swirls about the unexpected early exit by Peter Voser and the abrupt departure by Peter Rees, we can now add the name of Andy Brown to the mystery about the seismic developments and uncertainty that has engulfed Royal Dutch Shell Plc.  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s Arrow Energy to slash hundreds of jobs

Screen Shot 2014-01-16 at 16.48.42Royal Dutch Shell’s Arrow Energy coal seam gas venture in Queensland is set to cut potentially hundreds of jobs as speculation mounts that the proposed LNG project will be a casualty of reined-in spending by the oil major. One source said up to 600 jobs would go, representing half of the workforce.

Screen Shot 2014-01-20 at 14.39.44

Angela Macdonald-Smith: January 20, 2014

Royal Dutch Shell’s Arrow Energy coal seam gas venture in Queensland is set to cut potentially hundreds of jobs as speculation mounts that the proposed LNG project will be a casualty of reined-in spending by the oil major.

One source said up to 600 jobs would go, representing half of the workforce. Another put the figure at 400 jobs out of the 1200 employed at the venture, which is half-owned by PetroChina.

The statement comes amid media reports that managers in Arrow were travelling to regional centres in Moranbah and Dalby to kick off the job reductions. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s Oil Production Director Andy Brown Takes Medical Leave

Screen Shot 2013-10-01 at 07.56.54“First Voser, then Rees and now Brown…would the last one to leave the CMD please remember to turn out the lights?”: “Just read the news on your site! What is happening??? Never heard any rumour he was not well. And to quote Yogi Berra: ‘It ain’t over till it’s over’…. Who is next?”

Screen Shot 2013-12-11 at 00.15.23

By Eduard Gismatullin January 20, 2014

Royal Dutch Shell Plc (RDSA), the biggest oil company in Europe, said its production director Andy Brown is taking leave to recuperate from recent medical treatment.

Maarten Wetselaar, executive vice president for integrated gas projects, will be acting upstream chief in addition to his duties until Brown returns, The Hague-based Shell said today in a statement without indicating when that might be.

Brown, at Shell for about 30 years, became head of upstream operations in 2012. He has led the Pearl gas-to-liquids project in Qatar, the Anglo-Dutch company’s most expensive, and was responsible for the Qatargas-4 liquefied natural gas venture. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
%d bloggers like this: