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Posts on ‘January 29th, 2015’

Shell resumes Arctic drilling but cuts $15bn from global investment

Screen Shot 2015-01-29 at 15.57.27Royal Dutch Shell is reviving plans to drill for oil in Arctic in a move likely to intensify its battle with environmentalists.

The Anglo-Dutch giant’s chief executive Ben van Beurden accepted that Arctic drilling “divides society”, but said the world needs new sources of oil.

Greenpeace said Shell was taking a “massive risk” in a “pristine” region.

Shell also announced a $15bn (£9.9bn) cut in global spending, and profit figures that disappointed investors.

The cut in investment – spread over three years – comes after a fall in the oil price. Although the price is expected to remain lower in the medium term, Mr van Beurden said: “We are taking a prudent approach here and we must be careful not to over-react to the recent fall in oil prices.

“Shell is taking structured decisions to balance growth and returns.”

Shell also said profits for the last three months of 2014 had risen to $4.2bn compared with $2.2bn in the same period a year earlier. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Ben Van Beurden Ringing NYSE Bell on Monday?

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Hi John,

I am an ex-Shell employee and appreciate your site very much. I still keep in touch with friends at Shell, and one of them is traveling to New York this weekend ahead of the NYSE bell ringing ceremony on Monday. My friend was told that BVB and Marvin Odum would both be in attendance. Apparently this event has been described as celebrating the launch of SHLX (Shell Midstream Partners LP) on the NYSE, however I am wondering if it could be about something bigger since Ben and Marvin are both going to be there. (Perhaps a merger Monday BP takeover?) Do you have any ideas? read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell wants to resume drilling in Arctic this summer

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Screen Shot 2013-11-01 at 09.31.18By Karolin Schaps and Ron Bousso

Jan 29 (Reuters) – Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

Remote and costly to develop, the Arctic is estimated to contain 20 percent of the world’s undiscovered hydrocarbon resources and despite fierce opposition, plans for drilling north of the Arctic Circle are under way in the United States, Russia and Norway.

Shell, Europe’s largest energy firm, is intent on restarting its Arctic drilling campaign in Alaska’s Chukchi Sea this summer. It was suspended in early 2013 following the grounding of a drilling rig. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell Chief Pledges Everything to Maintain Its ‘Iconic’ Dividend

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BLOOMBERG: Shell Chief Pledges Everything to Maintain Its ‘Iconic’ Dividend

by Nidaa Bakhsh and Mark Barton

(Bloomberg) — Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden pledged to do all he can to maintain payments to shareholders of Europe’s largest oil company after crude prices fell by more than half in the past six months.

“We have a very long-term dividend policy and I’m not minded to change that,” Van Beurden said in an interview today with Bloomberg Television. “The dividend is an iconic item at Shell and I will do everything to protect it.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Royal Dutch Shell Reports 57 Percent Drop in Net Income

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Screen Shot 2015-01-12 at 08.45.23LONDON — Jan 29, 2015, 3:42 AM ET: By DANICA KIRKA Associated Press

Royal Dutch Shell PLC, Europe’s largest oil company by market value, said Thursday that fourth quarter net income fell 57 percent to $773 million and that it would cap spending this year in response to falling oil prices.

Shell is one first big producers to report earnings since the recent plunge in oil prices, so the results are likely to set the tone for its peers. The price of Brent crude dropped about 50 percent last year.

Fourth quarter earnings on current cost of supplies basis, which excludes the impact of changes in the oil price on inventory, rose 93 percent to $4.2 billion. For the year, such earnings rose 14 percent to $19 billion. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Plan to allow Shell oil drilling fleet in Seattle draws ire

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Screen Shot 2014-04-04 at 09.49.25BY PHUONG LE ASSOCIATED PRESS: 01/28/2015 9:43 PM: SEATTLE

A plan to allow Royal Dutch Shell PLC to use Seattle’s waterfront as a homeport for its Arctic drilling fleet is drawing opposition from environmental groups that say it’s not consistent with the region’s environmental goals.

Several state and national groups, and local city leaders on Wednesday urged the Port of Seattle to halt lease negotiations that would allow Shell to use 50 acres of port property across from downtown Seattle.

Shell could house about two dozen vessels, including exploration drill rigs, ice breakers, tugs and barges at the site in the winter when they’re not exploring for oil off Alaska’s coast.

Port commissioners this month approved moving forward with a short-term lease with Foss Maritime, whose clients include Shell. The port is renovating the terminal to handle bigger ships and was looking for interim uses that could bring revenue. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell to cut spending by $15 bln over next 3 years

Screen Shot 2015-01-12 at 08.45.23Jan 29 (Reuters) – Oil major Royal Dutch Shell said on Thursday it would curtail spending by $15 billion over the next 3 years while keeping dividends stable in a bid to calm investors amid plunging oil prices.

Europe’s largest oil company by market value kept its fourth-quarter dividend stable versus the previous quarter at $0.47 per share and pledged to pay the same amount in the first quarter of 2015.

The company reported fourth-quarter 2014 earnings on a current cost of supplies basis at $4.2 billion, compared with $2.2 billion a year earlier, meeting expectations.

Oil prices have fallen by almost 60 percent since June because of weak global demand and a boom in U.S. shale production. OPEC in November decided not to cut output in a move the group of oil producing nations hopes will force higher cost producers to trim production. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oil tumbles; U.S. crude prices near six-year low on record stockpiles

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Goldman Sachs analysts said in a Tuesday note that they expected U.S. crude, also known as WTI, to remain near $40 a barrel in the first half of this year

REUTERS

By Barani Krishnan

NEW YORK (Reuters) – Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after the government reported record-high inventories in the United States that raised anxieties about the global oil glut that had pressured the market since last summer.

The U.S. Energy Information Administration (EIA) said domestic crude oil stocks rose by almost 9 million barrels last week to reach nearly 407 million, their highest since the government began keeping records in 1982. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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