Posts on ‘May 19th, 2015’

Posted on May 19, 2015 | By Jordan Blum

Shell agrees to sell its French LPG business

Royal Dutch Shell has agreed to sell its liquefied petroleum gas subsidiary in France for more about $520 million as the Dutch energy supermajor continues its efforts to sell off its LPG businesses worldwide.

Shell, which is increasingly focusing on oil and liquefied natural gas with its planned acquisition of BG Group, said it is in exclusive talks to sell its subsidiary, France-based Butagaz LPG, to Ireland-based DCC Group, which largely focuses on LPG distribution throughout Europe.

Shell said it has a binding offer of 464 euros, or roughly $520 million, and that the detail should be finalized this year. read more

Shell vows to explore Arctic despite Seattle protests

BY RON BOUSSO: Tue May 19, 2015

Royal Dutch Shell will press on with a campaign to explore the Arctic for oil this summer despite protests in the port city of Seattle, chief executive officer Ben van Beurden said on Tuesday.

Hundreds of environmental activists have fanned out across the Seattle Bay in recent days to disrupt the Anglo-Dutch company’s rigs from entering the port en route to the Chukchi Sea off Alaska, saying drilling in the remote Arctic waters could lead to an ecological catastrophe.

Van Beurden however dismissed claims that Shell’s was using Seattle’s port illegally. read more

SHELL DOESN’T HAVE A CLUE ABOUT THE ENERGY OF THE FUTURE, NOT A CLUE!!

SOLAR IS THE ENERGY OF THE FUTURE.

PRODUCING ENERGY FROM OIL IS STONE AGE TECHNOLOGY. A SOLAR ENERGY REVOLUTION IS WELL UNDER WAY NOW.  YOU ARE RUNNING OUT OF TIME. INVEST NOW IN SOLAR AND WIND ENERGY PRODUCTION. OH, AND GET YOUR RIG THE HELL OUT OF SEATTLE. YOU ARE NOT WANTED THERE!!

AND ONE MORE THING, IF SHELL HAD ANY BRAINS, YOU WOULD AT LEAST BE BUYING STOCKS IN THE TESLA CORPORATION. read more

Article by Phuong Le, The Associated Press, Published Tuesday, May 19, 2015

Royal Dutch Shell undaunted by Seattle port backlash

SEATTLE — Neither a protest by hundreds of demonstrators nor a permit violation notice from the city will halt Royal Dutch Shell’s use of a Seattle seaport terminal as it prepares for exploratory oil drilling in the Arctic Ocean, spokesmen say.

The violation notice issued Monday by the Seattle Department of Planning and Development said use of Terminal 5 by a massive floating drill rig was in violation of the site’s permitted use as a cargo terminal. The 400-foot Polar Pioneer and its support tug Aiviq must be removed from the terminal or Shell’s host, Foss Maritime, must obtain an appropriate permit, the city indicated. read more

Shell CEO: ‘carbon bubble’ campaigners ‘ignore reality’

By Andrew Critchlow, Commodities editor: 19 May 2015

Ben van Beurden, chief executive of Royal Dutch Shell has given a robust defence of the fossil fuel industry saying that “carbon bubble” critics “ignore reality”.

The head of the UK’s largest oil company told shareholders that the world faces an energy crisis unless investment into producing fossil fuels is maintained. This is because of there is likely to be a dramatic increase in demand as three billion people emerging from poverty over the next few decades. read more

By McKENZIE FUNKMAY: 18 May 2015

Shell Oil’s Cold Calculations for a Warming World

“Shell screwed up,” said Ken Salazar, the interior secretary at the time.

Last week, when the Obama administration gave tentative approval to Shell Oil’s plan to return to the Arctic after its disastrous attempt to find oil there in 2012, I found myself thinking of a conversation I had several years ago with a man named Jeremy Bentham. A theater-loving Englishman, Bentham leads Shell’s legendary team of futurists, whose methods have been adopted by the Walt Disney Company and the Pentagon, among others.

The scenario planners, as they call themselves, are paid to think unconventional thoughts. They read fiction. They run models. They talk to hippies. They talk to scientists. They consult anyone who can imagine surprising, abrupt change. The competing versions of the future — the scenarios — that result from this process are packaged as stories and given evocative titles: “Belle Époque,” “Devolution,” “Prism.” Then the oil company readies itself, as best it can, for all of them. read more

Article by: Carl Surran, SA News Editor, Seeking Alpha: 18 May 2015

Energy groups ax $100B in total spending after oil rout

• More than $100B of spending on at least 26 major projects by the world’s energy companies has been slowed, postponed or canceled in the wake of plunging oil prices, including Royal Dutch Shell (RDS.A, RDS.B), BP, ConocoPhillips (NYSE:COP) and Statoil (NYSE:STO), according to a Financial Times analysis.
• One of the biggest developments to be shelved, Shell’s Arrow liquefied natural gas plant in Australia, accounted for almost a quarter of the planned spending reduction.
• Western Canada is suffering the most from the retrenchment, with nine Canadian oil sands projects pulled back, each ranging from $1B-$10B in planned expenditure, the analysis says.
• According to Morgan Stanley, which looked at capex guidance for 2015 from more than 120 companies, investment is expected to drop by a quarter this year to $389B from $520B.

SOURCE

Latest on Royal Dutch Shell plc (RDS.A: Get latest price)

Shell might have to sell BG “cash-cow” in Kazakhstan read more

Rose Hackman in New York: Monday 18 May 2015

At least 200 Seattle environmental protesters blocked the entrance to a terminal in Seattle’s port on Monday where a massive Royal Dutch Shell drill rig is temporarily resting on its way to explore for oil in Alaska this summer.

The 400ft long, 355ft tall Shell rig, named Polar Pioneer, has witnessed at least three staged environmental protests since it arrived since it arrived in the port of Seattle on Thursday afternoon.

FULL ARTICLE

The real story behind Shell’s climate change rhetoric

Terry Macalister: 17 May 2015 

…we reveal Shell’s pursuit of ever riskier reserves is at odds with its own forecasts for dangerous global warming

“Meanwhile, a recent, seismic corporate event put even greater distance between Van Beurden’s words and reality.”

FULL ARTICLE