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Posts on ‘April 30th, 2015’

Shell cuts 2015 capex, sees downstream downturn

Screen Shot 2015-04-30 at 09.37.24Shell cuts 2015 capex, sees downstream downturn

London (Platts)–30 Apr 2015

* Capex reduced by more than $2 billion
* Decision on Majnoon development pushed back to 2017
* CFO says refining margins already worsening

Shell said Thursday it had reduced its expected 2015 capital expenditure to $33 billion from previous guidance of a little more than $35 billion as the company continues to adjust its business to the lower oil-price environment.

Shell, releasing its first-quarter results, also said it continued to reduce its operating costs and capital spending, with Q1 operating expenditure down by $1.1 billion year on year. 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 profits slump as oil price slide puts energy giant on back foot ahead of mega-merger with BG

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Earnings dropped steeply from $7.33billion last year to $3.25billion

Company hopes oil prices will rise to $90 a barrel by 2018 

By MARK SHAPLAND FOR THIS IS MONEY: 30 April 2015

Oil giant Royal Dutch Shell has reported a near 60 per cent slump in first quarter profits after it was hit by the fall in oil and gas prices.

Earnings dropped steeply from $7.33billion ($4.6billion) last year to $3.25billion – though the figure was better than City forecasts of about $2.5billion. 

The price of a barrel of Brent crude has fallen by half since last year after peaking at about $115 a barrel in the summer of 2014.

The company, which earlier this month announced a £55billion agreed offer for UK-based BG Group, said it expects oil prices to rise to $90 a barrel by 2018 – justifying the 50 per cent premium it bid to buy its rival.   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 pushes on with Arctic exploration as it awaits U.S. permit

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Screen Shot 2015-03-02 at 19.49.45Business | Thursday Apr 30, 2015 

Shell pushes on with Arctic exploration as it awaits U.S. permit

(Reuters) – Royal Dutch Shell is pushing ahead with plans to explore for oil in the Arctic Ocean near Alaska this summer despite opposition from environmental groups.

The Anglo-Dutch oil major is preparing “an armada of 25 vessels” to begin a two-year program to explore two to three wells in the Chukchi Sea off the coast of Alaska, Chief Financial Officer Simon Henry said on Thursday.

“We are currently on track. Some of the permits are issued at the last moment,” he told reporters. 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

Judge extends TRO after hearing on Greenpeace injunction

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Screen Shot 2015-04-14 at 09.05.35BY TIM BRADNER, ALASKA JOURNAL OF COMMERCE: PUBLISHED 29 APRIL 2015

Judge extends Temporary Restraining Order after hearing on Greenpeace injunction

Shell’s court battle to obtain a preliminary injunction against Greenpeace USA continued in U.S. District Court Judge Sharon Gleason’s court in Anchorage April 28.

Gleason is considering whether to issue an order that would keep Greenpeace protestors at a certain distance from vessels Shell hopes to use for its 2015 Arctic offshore drilling.

After the hearing, Gleason extended the temporary restraining order against Greenpeace covering two drill rigs and a heavy lift vessel; that order issued April 11 expired April 28 and she extended it to May 9 or until she rules on Shell’s request for an injunction that would cover all 27 vessels being mobilized for its Arctic exploration this summer. 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’s first-quarter profits plunge 56% to $3.2bn

Screen Shot 2015-04-30 at 09.37.24FT: Shell’s first-quarter profits plunge 56% to $3.2bn

30 April 2015

Christopher Adams, Energy Editor

Royal Dutch Shell suffered a near 60 per cent slide in first-quarter profits, hit by plunging crude prices, but beat expectations as a strong contribution from its refining and trading business prevented a steeper fall.

FULL FT ARTICLE

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 Plc CEO Statement

FAT CAT PAY

FAT CAT PAY

STATEMENT BY ROYAL DUTCH SHELL PLC CEO, BEN VAN BEURDEN: 30 April 2015

“Our results reflect the strength of our integrated business activities, against a backdrop of lower oil prices. Meanwhile, in what is clearly a difficult industry environment, we continue to take steps to further improve competitive performance by redoubling our efforts to drive a sharper focus on the bottom line in Shell.

Part of this sharper focus is the sale of non-strategic assets. Asset sales total over $2 billion so far this year, as we successfully reduced our onshore footprint in Nigeria. 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 Posts Rise in Profit Despite Sharp Revenue Decline

The Wall Street Journal: Shell Posts Rise in Profit Despite Sharp Revenue Decline

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Fall in revenue indicates impact of low oil prices

By IAN WALKER and SARAH KENT

April 30, 2015

LONDON— Royal Dutch Shell PLC on Thursday reported a 7% rise in first-quarter profit from a year earlier but also posted a steep fall in revenue, giving investors a glimpse of the impact weak oil prices are having on the business.

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Write to Ian Walker at [email protected] and Sarah Kent at [email protected]

SOURCE

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 profits beat expectations on refining boost

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Screen Shot 2015-04-03 at 09.56.31Shell profits beat expectations on refining boost:

Business | Thu Apr 30, 2015 7:26am BST

(Reuters) – Royal Dutch Shell on Thursday reported a lower than expected 56 percent drop in first quarter net income at $3.2 billion (2 billion pounds), as refining and trading profits offset a decline in earnings from oil and gas output.

Shell maintained a dividend of 47 cents per share and said it would use its planned $70 billion acquisition of smaller British rival BG Group to further optimise its asset base.

Profits from refining and trading rose to $2.65 billion in the first quarter of 2015 from $1.575 billion a year earlier, offsetting a sharp drop in oil and gas production earnings to $675 million from $5.7 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
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