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Posts on ‘September 9th, 2015’

Yes, ExxonMobil Could Buy Chevron

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Screen Shot 2015-09-09 at 18.40.05By Ben Levisohn: Sept 9, 2015

Oppenheimer’s Fadel Gheit and Luis Amadeo contend it’s just a matter of time before ExxonMobil (XOM) goes on a shopping spree–and argue that it’s theoretically possible Chevron (CVX) could be a target.

They explain:

Lower oil and gas prices for longer could accelerate industry consolidation, which could benefit large financially strong companies like ExxonMobil. The current market value of ExxonMobil’s 3.8 billion treasury shares is $278 billion, which is 72% above the market value of Royal Dutch Shell (RDS.A), and almost double the market value of Chevron. Theoretically, if government regulators approve, ExxonMobil can acquire any of its large rivals at a 40% premium. Such a merger could reduce combined CAPEX by more than 20% and operating costs by more than 40% while sharply reducing its net debt ratio. It would also significantly boost shareholder value for both companies. read more

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Shell CEO Says Only ‘Something Cataclysmic’ Could Stop BG Merger

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Screen Shot 2015-09-09 at 18.26.32By SHAYNDI RAICE And SARAH KENT: Sept. 9, 2015 

LONDON—Royal Dutch Shell CEO PLC Ben van Beurden has told investors privately that only “something cataclysmic” could derail the company’s $70 billion takeover of BG Group PLC, according to a person familiar with the matter.

FULL ARTICLE

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California Appeals Court Allows Shell $90M Oil Contamination Settlement

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Shell’s $90M Oil Harm Deal Nears Win Over Dole Challenge

By Daniel Siegal

Law360, Los Angeles (September 8, 2015, 9:57 PM ET) — A California appeals court indicated Tuesday it will allow Shell Oil Co.’s $90 million settlement with nearly 1,500 Los Angeles-area residents over oil waste buried under homes built by a Dole Food Co. subsidiary, tentatively rejecting Dole’s argument that the deal unfairly exposes it to excessive liability. 

The appeal stems from Shell’s attempt to exit a sprawling legal battle over oil contamination affecting 1,491 residents of the Carousel housing development built by developer and Dole subsidiary Barclay-Hollander-Curci on land it acquired from Shell in the city… read more

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Shell confirms has canceled Westward Ho pipeline project

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Screen Shot 2015-07-31 at 19.22.09HOUSTON | BY KRISTEN HAYS: Tue Sep 8, 2015

Royal Dutch Shell shelved its Louisiana-to-Texas Westward Ho pipeline after years of delays, reductions in scope and after other new pipelines began flowing, a spokeswoman confirmed on Tuesday.

“After a thorough review and as a result of changing market conditions, Shell Pipeline Company LP has decided to not proceed with the proposed Westward Ho Pipeline project,” spokeswoman Kimberly Windon said.

Proposed in 2011 at a top capacity of 900,000 barrels per day, Shell said Westward Ho would move Gulf of Mexico and imported crudes from the St. James, Louisiana oil hub to Houston. The leg between Nederland, Texas and Houston would move up to 500,000 bpd, and the entire project was targeted to start in late 2015. 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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