Oct 31st, 2015
by John Donovan.




The big question facing Mr van Beurden, is whether he can pull off such an ambitious move. If not, his time at the helm will be shortlived.
Ben van Beurden must be sick of answering the same question but unless there is an unlikely sudden surge in the oil price – and therefore the fortunes of the world’s energy giants –the boss of Shell is likely to be quizzed on the same issue many more times in the coming months.
What people want to know is, will the UK oil major press ahead with its mammoth £43bn takeover bid for BG Group despite the dramatic slump in the oil price?
• BG Group profits drop as it nears merger with Shell
The fall from highs of more than $100 a barrel in mid-2014 to as low as $43 has unleashed havoc across the energy industry, forcing the majors to rein in costs at lightning speed as they desperately try to prop up profits and keep paying dividends to investors. read more
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Oct 31st, 2015
by John Donovan.
Oct 30th, 2015
by John Donovan.


The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Liquefied natural gas is taking the shine off Shell’s $70 billion takeover of BG Group. When the Anglo-Dutch major launched its deal in April, LNG was one of the main ways it justified the deal to investors. That line of argument doesn’t look so convincing now.
BG’s third-quarter results, released on Oct. 30, showed marketing and shipping of LNG taking a big hit. Despite the company revising higher its earnings expectations for the segment in 2015, revenue slumped 65 percent year-on-year, against a 9 percent top-line fall for the overall group. read more
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Oct 30th, 2015
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By Rakteem Katakey Bloomberg News: Oct 29 2015
Royal Dutch Shell’s worst loss in at least 16 years has further stoked concerns about the wisdom of buying BG Group. For now at least, investors are still giving Chief Executive Ben Van Beurden the benefit of the doubt.
Europe’s biggest oil company said it will press ahead with its largest-ever acquisition even as the worsening outlook for energy prices contributed to asset writedowns of almost $8 billion.
Van Beurden said in July that BG Group’s assets including Australian natural gas plants and Brazilian oil fields would add to Shell’s cash flow with crude at $67 a barrel in 2016, a position he declined to repeat Thursday. read more
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Oct 30th, 2015
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-
Shell leads writedowns with $8.2 billion in impairments
-
Predictions of future cash flow have fallen along with prices

More than $19 billion in oil and gas writedowns have been reported in a single week as producers acknowledge what investors already knew.
Royal Dutch Shell Plc leads the pack in recognizing that drilling prospects are worth a lot less than they used to. The producer announced its worst loss in 16 years on Thursday, including $8.2 billion in impairments. Southwestern Energy Co., Whiting Petroleum Corp. and Anadarko Petroleum Corp. have likewise written off acreage value.
For investors, those charges aren’t much of a surprise after oil tumbled 44 percent in the past year, dragging stock prices along with it. Shell has declined 15 percent in the past 12 months, Whiting is down 73 percent and Anadarko fell 26 percent. read more
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Oct 30th, 2015
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By SELINA WILLIAMS: 30 Oct 2015
Shell Chief Executive Ben van Beurden said Thursday that the BG deal, which remains on track for completion in early 2016, was a springboard for the Anglo-Dutch energy giant to focus on fewer and more profitable areas, such as deep water and integrated gas.
Shell’s comments came as BG reported a fall in its underlying earnings…
FULL ARTICLE
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Oct 30th, 2015
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BG Group, which is due to be taken over by Shell early next year, has reported a slump in profits as the low oil price continues to take a toll on producers.
Net income at the Reading-based company fell 63pc to $280m (£182m) in the third quarter from $759m a year earlier. Nonetheless, this beat expectations, with some analysts pencilling in a result closer to $200.5m.
Including impairments, disposals and foreign exchange movements caused by the falling value of the dollar, BG recorded a loss of £101m. read more
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Oct 30th, 2015
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Angela Macdonald-Smith: 30 October 2015
Royal Dutch Shell’s global chief executive Ben van Beurden says there is “massive support” from Australian federal and state governments for the oil giant’s $US70 billion ($98.6 billion) takeover of BG Group and is confident the national competition regulator will wave the deal through.
Mr van Beurden said even though the decision from the Australian Competition and Consumer Commission on the deal had been put back twice, he was “confident that they will come back with a good and prudent ruling”. read more
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Oct 29th, 2015
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There is blood in the water at Royal Dutch Shell
By HELEN THOMAS: Oct. 29, 2015
There is blood in the water at Royal Dutch Shell. The wound will take some time to heal. The U.K. oil and gas company Thursday posted a huge third-quarter loss, dragged down by impairments of $8.2 billion in its upstream business. Just less than half the charges owed to Shell reducing its view of longer-term oil and gas prices by an unspecified amount. The remainder was write-offs resulting from its decision to cease drilling in the Arctic and call a halt to a Canadian oil sands project. read more
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Oct 29th, 2015
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By a regular contributor


Only one member of the EC is directly involved in North American activities, Marvin Odum.
Perhaps worth noting is that investment decisions on the scale of the recent Shell write-offs would have required approval by the entire EC in the Hague long before BvB was around. Few of the EC members who made those decisions are still present.
It seems strange that so many of the huge projects which have been abandoned are in North America, and serious questions need to be asked about why approval was given by the EC for these huge projects. Only one member of the EC is directly involved in North American activities, Marvin Odum. read more
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Oct 29th, 2015
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Oct 29th, 2015
by John Donovan.


Royal Dutch Shell’s share price tumbled this morning after it revealed a third quarter loss of $7.4bn (£4.8bn) as the company gets to grips with the falling oil price.
The figures
The Anglo-Dutch oil giant posted its dramatic loss on the back of nearly $8bn-worth of exceptional items. Adjusted net income fell to $1.77bn, missing expectations that had put the figure at $2.92bn.
Shell posted a CCS earnings loss of $6.12bn, 216 per cent lower than the same time last year.
Cash flow from operating activities for the third quarter 2015 was $11.2bn, down from $12.8bn for the same quarter last year. Meanwhile gearing has increased to 12.7 per cent, up from 11.7 per cent at the same point in 2014. read more
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Oct 29th, 2015
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By STANLEY REED: OCT. 29, 2015
LONDON — Lower petroleum prices took a big toll on Royal Dutch Shell in the third quarter.
The company reported a loss of $7.4 billion, compared with a profit of $4.5 billion in the quarter a year earlier. Adjusted for inventory changes and one-time items — a more closely watched measurement — earnings fell 70 percent to $1.8 billion.
The company took about $7.9 billion in write-offs for its recently halted exploration venture off Alaska, a canceled heavy-oil project in Canada and other operations. read more
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Oct 29th, 2015
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Business News | Thu Oct 29, 2015 7:18am GMT
Royal Dutch Shell (RDSa.L) on Thursday reported a sharp drop in third-quarter profits on the back of low oil prices and a hefty $8.2 billion (5.4 billion pounds) charge which included write-offs in Alaska and Canada.
Shell’s current cost of supplies (CCS) earnings excluding identified items, the company’s definition of net income, fell to $1.8 billion from $5.85 billion a year earlier and from $3.835 billion in the previous quarter. read more
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Oct 29th, 2015
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- Company reports net loss after taking $7.9 billion charge
- Third-quarter adjusted profit drops 70% to $1.8 billion
Royal Dutch Shell Plc reported its biggest net loss in at least a decade as it wrote down the value of assets and lowered its oil-price expectations.
The company, which is buying BG Group Plc in the industry’s largest deal this year, reported a third-quarter net loss of $7.42 billion, compared with a profit of $4.46 billion a year earlier. It took charges totaling $7.89 billion following its withdrawal from Alaskan offshore exploration and a Canadian oil-sands project.
Profit adjusted for one-time items and inventory changes dropped 70 percent to $1.8 billion, The Hague-based Shell said Thursday in a statement. That missed the $2.92 billion average estimate of 17 analysts surveyed by Bloomberg. read more
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Oct 28th, 2015
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CALGARY, ALBERTA: Tue Oct 27, 2015
Royal Dutch Shell Plc will not continue construction of its 80,000 barrel per day Carmon Creek thermal oil sands project in northern Alberta because of the lack of infrastructure to move Canadian crude to market, the company said on Tuesday.
Shell said the decision to halt the project was also the result of “current uncertainties” and chief executive Ben van Beurden said the company was having to manage costs in today’s low oil price environment. read more
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Oct 28th, 2015
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By STANLEY REED: OCT. 27, 2015
LONDON — The British oil giant BP said on Tuesday that its profit was down sharply in the third quarter as depressed oil prices took a heavy toll.
The company, saying it expects prices to stay low for years, indicated that it would continue to cut costs and limit its investments in searching for and developing new oil and gas fields.
“We are now in action to rebalance our financial framework in this new price environment,” BP’s chief executive, Robert W. Dudley, said in a statement.
The company said its profit in the quarter was $46 million, compared with $1.3 billion a year earlier. Profit on the basis of underlying replacement cost, a more widely used figure, fell to $1.8 billion for the quarter from $3 billion a year earlier. read more
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Oct 28th, 2015
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Posted on October 27, 2015 | By Collin Eaton
HOUSTON – Royal Dutch Shell says it will stop building a large Canadian oil sands project after low crude prices pushed it out of the company’s shortlist of profitable projects.
It’s the second large project Shell has canceled since August, when it ditched a $7 billion effort to drill for oil in the Arctic Ocean north of Alaska. Shell said Tuesday its Carmon Creek project in Alberta, which was expected to pump 80,000 barrels of crude a day, was sanctioned in late 2013 when oil prices were still hovering around $100 a barrel. read more
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Oct 28th, 2015
by John Donovan.
Oct 28th, 2015
by John Donovan.


Shell runs several pension schemes with different features and benefits depending on if you worked for the firm before 2009, still work with the company or have left.
If you belong to the Shell Overseas Contributory Pension Fund and were an employee on or before December 31, 2008 and have a salary of more than £30,000 a year, you are contributing 6%.
Shell pays the ‘balance of cost’ which makes up the difference of the amount you should receive as benefits less your contributions and any investment growth. read more
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Oct 27th, 2015
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David Marino: 27 October 2015
-
Company stops work at Carmon Creek facility in Alberta
-
Halted oil-sands work follows Shell’s Arctic drilling exit
Royal Dutch Shell Plc made its second major strategic change in two months, announcing it will take a $2 billion charge to exit an oil-sands project in Alberta.
Shell is stopping construction on the 80,000 barrel-a-day Carmon Creek facility, the company said in a statement on its website Tuesday. The charge will be recorded in third-quarter earnings, which are due to be released Thursday.
The cancellation comes a month after Shell said it would stop drilling in the Arctic, where it spent $7 billion searching for oil. Shell is among several companies pulling back spending as oil prices linger below $50 a barrel, less than half of their 2014 high. read more
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Oct 27th, 2015
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Written by Phil Allan – 27/10/2015 11:28 am
The boss of Shell’s UK upstream business said the oil and gas industry was still in the “dark ages” when it came to collaboration.
Paul Goodfellow said companies working in the North Sea need to learn from other industries on how to work together.
The Shell boss looked to examples both in Scotland and the US of how collaboration could be driven across the sector.
Goodfellow, who took up his new role earlier this year, pointed to both Aberdeen City and Aberdeenshire Councils in Europe’s ‘oil capital’ and further a field to the shale industry in America. read more
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Oct 27th, 2015
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Xinhua News Agency: Oct 27, 2015
KIEV, Oct. 27 (Xinhua) — Ukrainian Energy Minister Volodymyr Demchyshyn confirmed here Tuesday that Royal Dutch Shell plc, the Anglo-Dutch multinational oil and gas company, had completed a procedure of withdrawal from a shale gas exploration project in eastern Ukraine.
“Shell has withdrawn from the treaty. The operations on the Yuzovska field are frozen,” Demchyshyn told reporters during a media conference.
He said that Shell has pulled out of the project, whose total cost has been estimated by the government at 3.95 billion U.S. dollars, because of “unfavorable conditions on the global energy markets.” read more
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Oct 27th, 2015
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Big bets on shale “destroyed huge amounts of capital” and the company has few growth assets…the firm is far more likely to remain a laggard than become a leader among the oil majors for the rest of this decade…
Royal Dutch Shell Plc (LON:RDSA) carries hefty baggage and even if oil prices were to recover back to $100 per barrel, it would not solve all the firm’s problems, argued senior Morningstar analyst Stephen Simko.
Big bets on shale “destroyed huge amounts of capital” and the company has few growth assets, Simko said.
The notable exception is the potential addition of BG Group’s Brazilian operations, should the proposed merger complete successfully. BG’s interests in the Santos Basin are estimated to hold more than three billion barrels of recoverable oil resources and are projected to break even at only $30-35 per barrel. read more
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Oct 26th, 2015
by John Donovan.



By LAURA CHESTERS FOR THE DAILY MAIL: 25 October 2015
Britain’s oil giants will this week post their worst set of earnings since the rout in the price of crude began last year.
Investors will also be looking for any update on Royal Dutch Shell’s £55bn takeover of rival BG Group amid fears Shell is overpaying.
Shell, BG and BP will all post third-quarter earnings this week with the City expecting an average of a 60 per cent collapse in profits, according to experts at Morgan Stanley, suggesting the industry is facing its worse downturn in a decade. read more
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Oct 26th, 2015
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Photo Credit: www.alamy.com: Dark days: The price of a barrel of Brent crude has plunged from more than $100 a barrel in the summer of last year to $48 a barrel today
By JON REES, FINANCIAL MAIL ON SUNDAY: 24 October 2015
BP and Shell will this week report billions of pounds wiped off their profits as the effect of the low oil price coupled with expensive exploration failures hammer two of Britain’s biggest companies.
The City expects BP, under chief executive Bob Dudley, to report an underlying profit fall of 60 per cent to £800 million on Tuesday when it unveils results for the three months to the end of September, compared with a profit of £2 billion for the same period last year. read more
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Oct 26th, 2015
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ROYAL Dutch Shell and BP are set to blame the weak oil price for dramatic falls in third-quarter pre-tax profits and revenues, analysts say.
By GEOFF HO: Sun, Oct 25, 2015
The price of crude oil has nearly halved over the past 12 months because of a Saudi Arabia-led effort by the Opec cartel to crush competition from US shale oil operators.
On Tuesday, BP is expected to say its third-quarter profits have slumped 57.5 per cent to $2.2billion (£1.4billion), with revenues down 47.6 per cent to $49.2billion (£31.9billion), even though analysts believe that its refining, processing and retail divisions have performed well.
On Thursday, arch rival Shell is also likely to produce a weak set of results. read more
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Oct 26th, 2015
by John Donovan.



Company has “ample room to weather the storm”
On Thursday, Royal Dutch Shell Plc (LON:RDSA) is expected to post a 55 percent drop in quarterly earnings to £2.65 billion for the three months ended September 30, analysts’ consensus holds.
The slump due to the significantly lower oil price year-on-year will be exacerbated by Shell’s withdrawal from its costly Alaskan adventure. While not specifying the extent of the expected impact, the company noted last month that its Arctic position is worth about $3 billion (£1.97 billion), while it also has about $1.1 billion in “future contractual commitments”. To date, Shell has spent about $7 billion towards furthering its Arctic ambitions. read more
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Oct 26th, 2015
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Even when oil prices were $100 a barrel, Shell’s (RDSB) portfolio was strewn with problems. Huge bets on shale destroyed huge amounts of capital, and the company’s upstream resource base has few growth options with strong economics, the low-cost Brazilian oil it is acquiring from BG (BG.) is the one major exception.
The company’s chronically poorly performing downstream also has been a consistent drag on returns on capital. Even though significant restructuring actions have begun under new CEO Ben van Beurden, the recent collapse in oil prices adds considerable pressure that we think the company will struggle mightily to overcome. After all, Shell’s issues of poor execution and capital efficiency predate even ex-CEO Peter Voser, who was responsible for a lot of the poor recent strategic choices. read more
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Oct 26th, 2015
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Transocean and Royal Dutch Shell struck an agreement to delay the delivery of two new ultradeep-water drillships as the offshore drilling industry cools amid a global downturn in oil prices.
The Swiss-based offshore drilling contractor announced early Monday that it would push back the operating and delivery contracts of the Deepwater Pontus and Deepwater Poseidon by one year each.
Drillships are used to hunt for new oil and gas in waters deep offshore. With oil prices refusing to budge above $50 a barrel for months, oil companies have throttled expensive offshore exploration projects as they wait for crude to rebound. read more
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Oct 26th, 2015
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Results this week could give more detail on savings to protect dividend payments
Britain’s oil giants are preparing to make further cuts to their investment plans in the face of plummeting crude prices.
Shell, like many oil explorers, has already slashed spending and jobs to counteract the effects of a 40pc slump in oil prices in the past year, with the price sliding as low as $43 a barrel from highs of more than $110 in 2014.
However, Shell is this week expected to unveil a new round of cuts alongside its third quarter results, which are set to show a 38pc slump in sales to $67bn (£43.7bn) and a 54pc drop in adjusted earnings. read more
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Oct 26th, 2015
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By SARAH KENT and JUSTIN SCHECK: Oct. 25, 2015
At Shell, Chief Executive Ben van Beurden has said he was “pulling out all the stops” to protect the dividend. At the same time, he has flagged the potential for even deeper cuts at his company, based in The Hague.
“I think in the end, the success of companies like us is going to be determined by our ability to drive down cost,” Mr. van Beurden said in a June interview. If they can’t do that, people “will not like to invest in us.” read more
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Oct 26th, 2015
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EXTRACTS
BP and Shell are set to unveil a drop of more than half in their third-quarter profits this week, raising new questions about their ability to retain dividends and avoid further job losses.
Shell has recently carried out its own cost reductions by trimming jobs in Aberdeen and by mothballing its drilling operations off Alaska for the foreseeable future.Specu lation continues, however, about dividend cuts. read more
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Oct 26th, 2015
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Shell’s Chairman Chad Holliday at Fortune’s Brainstorm E
Photo: Stuart Isett—Fortune Brainstorm E
Shell chairman Chad Holliday made news at Brainstorm E, held Sept. 28 and 29, by announcing the creation of a new commission to help the U.S. move to a zero-carbon economy. Why would one of the world’s largest oil and gas companies want to decarbonize? Holliday argued that the U.S. needs to find ways to provide energy to a growing global population without damaging the environment beyond repair: “Shell believes society needs to be net zero carbon by the end of this century.”
He also stressed that fossil fuels will remain part of the mix with the help of, say, carbon-capture technologies. The new Energy Transitions Commission, whose members include Statoil STOHF -1.89% , Dow Chemical DOW 0.28% , and GE GE 0.25% , will act, he said, as a trusted source of information for leaders trying to make their countries and companies more sustainable. —Brian Dumaine read more
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Oct 22nd, 2015
by John Donovan.



Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) and BG Group plc.’s (ADR) (OTCMKTS:BRGYY) merger is faced with another setback, as the Australian antitrust regulator, Australian Competition and Consumer Commission (ACCC) now expects to make a decision by November 19. The commission announced on October 22, that the additional time will allow a more detailed review of the proposed acquisition.
The ACCC, earlier in September, had indicated that it will disclose its decision on the merger after two months. However, the regulatory authority has now decided to delay it by another two weeks. The delay in September had come amid ACCC’s concerns of Shell and BG’s overlapping businesses in Eastern Australia, which may limit competition. read more
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Oct 22nd, 2015
by John Donovan.



MELBOURNE: Thu Oct 22, 2015
Australia’s competition watchdog said it has postponed a final decision on Royal Dutch Shell’s (RDSa.L) $70 billion takeover of BG Group (BG.L) by a week to November 19, following an earlier deferral in September.
The Australian Competition and Consumer Commission (ACCC) had said last month that market participants had expressed concerns the takeover may hurt gas supply competition in eastern Australia if Shell’s Arrow Energy were to sell its gas into BG’s Queensland Curtis liquefied natural gas plant for export. read more
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Oct 22nd, 2015
by John Donovan.



22 October 2015
The Ilaje coastal communities in Ondo state have alleged that oil giant, Shell Petroleum Development Company (SPDC) allegedly excluded them from the ongoing discussions and compensation agreement it reached with the communities that were affected in the oil spill from the Bonga oil field in 2011.
They have therefore appealed to President, Muhammadu Buhari to intervene in the matter to ensure their inclusion in all discussions with regards to payment of compensation.
The communities, have however, threatened a legal action against Shell Nigeria Exploration and Production Company, (SNEPCO),a subsidiary of SPDC, should the oil firm continues to exclude them from the compensation agreement reached between it and the communities and over the Bonga oil Spill of 2011. read more
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Oct 21st, 2015
by John Donovan.



By Denis Cuff [email protected]: 20 Oct 2015
MARTINEZ — The Shell oil refinery has agreed to pay $208,000 in air pollution penalties to settle complaints of 12 violations in 2013, the Bay Area Air Quality Management District announced Monday.
The refinery violations included discharging excessive quantities of nitrogen oxides and carbon monoxide, a release of hydrogen sulfide from a biotreatment pond, and Shell’s failure to maintain a minimum moisture content in coke, a refinery byproduct, at a handling area, the air district reported. read more
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Oct 21st, 2015
by John Donovan.


By MAUREEN FARRELL:20 Oct 2015
Noted short seller James Chanos says the effects from the precipitous drop in oil prices are just beginning to be felt.
North American oil and gas exploration and production companies are in trouble, he said, and the pain isn’t going to stop with their shareholders.
Separately, Mr. Chanos walked through his bearish theses on three companies — Royal Dutch Shell PLC, Cheniere Energy, Inc., and SolarCity Corp.
FULL ARTICLE
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Oct 21st, 2015
by John Donovan.
Oct 20th, 2015
by John Donovan.


Shell’s timeline to cap a blowout is still between 12 and 13 days
20 October 2015
The Canada-Nova Scotia Offshore Petroleum Board has authorized a Shell Canada Ltd. drilling plan in the Shelburne Basin that allows the company between 12 and 13 days to contain subsea blowouts, but one environmental group is concerned the capping stack won’t be housed here.
The timeframe is an improvement over the original 21-day plan, but still falls short of the U.S. requirement of 24 hours for drilling in the waters off Alaska. Shell Canada would also have to deploy a second capping stack as a contingency plan. read more
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Oct 20th, 2015
by John Donovan.


I’m a sub sub contractor making a living with a few men
Shell just terminated a main contractor on their projects. They lost money, time, reputation. Today I was told by my subcon who had a contract with Punj Lloyd that Shell terminated that contract and closed the site and thus my contract is now terminated. It’s not just me but hundreds of subcon and sub sub cons plus over thousand employees
Why Shell is having issues? Big ego and big I am god I do no wrong attitude. All the contractors and sub sub already inform Shell Punj Lloyd can’t make it but in order to cut cost they use Punj Lloyd and Soo many issues hide under the rug (of course now audit by Shell, Shell will say it’s above board- then why delay and quality bad?) read more
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Oct 20th, 2015
by John Donovan.

- Shell has highest percentage of buy ratings in three years
- Third-quarter earnings seen marking low point before rebound
Energy companies are finally starting to come back into favor.
After enduring the longest oil-price collapse in more than a decade, crashing profits and an investor exodus, Europe’s biggest producers are regaining fans as analysts bet earnings bottomed last quarter and will now start to recover.
While Total SA, the region’s second-biggest oil company, will probably post the worst quarterly performance since 2009, it also has the highest proportion of buy ratings in a year, according to analysts surveyed by Bloomberg. Despite similarly bleak forecasts, Royal Dutch Shell Plc, Europe’s No. 1, has the biggest share of buy recommendations since mid-2012 while BP Plc has the most since February. read more
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Oct 20th, 2015
by John Donovan.



DAVID HOWELL, EDMONTON JOURNAL: 19 Oct 2015
Fort Saskatchewan — More than 100,000 tonnes of compressed carbon dioxide have been sequestered deep underground during startup testing of Shell Canada’s $1.35-billion Quest carbon capture and storage project.
“We’re not quite at commercial operations — we’re expecting that in the near future — but in that (testing) process we are proving that we can safely inject that CO2 underground,” Quest lead Tim Wiwchar said in an interview this week. read more
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Oct 19th, 2015
by John Donovan.


By Siseko Njobeni: 19 October 2015
The Department of Environmental Affairs has issued an environmental authorisation for Shell South Africa Upstream B V’s proposed exploration drilling in the Orange Basin Deep Water Licence Area, off South Africa’s west coast.
This gives Shell permission to drill up to two offshore exploration wells in the northern portion of the licence area, which covers about 37 290km². Successful exploration of gas will be a major step towards the diversification of South Africa’s energy mix. read more
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Oct 19th, 2015
by John Donovan.



Monday 19 October 2015
Almost 40 security staff at the Corrib Gas Terminal in north Mayo have begun industrial action in a dispute over payments and terms of employment.
The personnel involved in the one-day stoppage at the Bellanaboy facility are all members of SIPTU.
Those taking part in the dispute are employed by the Senaca Group, a security services firm, which is contracted by Shell E&P Ireland to safeguard its operations in Co Mayo.
SIPTU has said the workers are taking the action after a number of contracts were terminated and working hours were unilaterally reduced in recent weeks. read more
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Oct 19th, 2015
by John Donovan.



by AOG Staff: Monday, 19 October 2015
SBM Offshore has been awarded the front-end engineering and design (FEED) contract for three large scale turret mooring systems associated with the proposed Browse floating liquefied natural gas (FLNG) development in Australia.
The turrets are expected to be designed similar to and slightly larger in size than the Shell Prelude FLNG turret that SBM Offshore was awarded in 2011, and whose last module was recently successfully delivered from the construction yard in Dubai. Integration with the Prelude facility in Korea is currently ongoing. read more
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Oct 19th, 2015
by John Donovan.



The US Interior Department announced on Friday that it will cancel the auction of 2016 and 2017 natural gas and offshore oil leases in the Arctic Ocean. The auction was scheduled under the Department’s current five-year Chukchi Sea leasing program for 2012–2017. The division cited low crude oil prices and lack of interest from oil companies as the main reason behind its decision.
This news comes a few weeks after Royal Dutch Shell plc (ADR) (NYSE:RDS.A) withdrew its Arctic drilling plan. The oil giant had spent $7 billion for the Arctic campaign. It said last month that it has dropped its exploration and production (E&P) activities in the Burger prospect of the Chukchi Sea, as it found few traces of oil and natural gas in the region. The company was not satisfied with the drilling results; it had initially expected huge amount of oil traces in the Ocean. Shell has dropped all future plans of Arctic drilling for the foreseeable future. read more
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Oct 19th, 2015
by John Donovan.



Jake Bacon, reporter / Tuesday 6 October 2015
A father-of-two claims he was refused more than £10-worth of fuel at a Shell petrol station in Sidcup after staff ‘thought he wasn’t going to pay.’
Daniel Tredget, 24, from Sidcup, was filling up his Vauxhall Zafira with petrol at the Shell Blendon garage in Blackfen Road when he claims the pump was suddenly switched off.
The Park Mead resident was driving back from the cinema just after 10pm on September 22 and wanted to fill up £70-worth of fuel but was reportedly thwarted at £9.10 by an employee. read more
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Oct 18th, 2015
by John Donovan.

Interior: No more new Arctic oil leases for remainder of Obama’s presidency
WASHINGTON — The Obama administration is canceling its plans to sell oil drilling rights in the Arctic Sea through 2017, a remarkable turnaround since expanding drilling by approving new drilling permits for Shell Oil earlier this year.
But Royal Dutch Shell’s decision last month to suspend its oil exploration in offshore Alaskan waters — citing disappointing results from a well in the Chukchi Sea — prompted the Interior Department to cancel further oil leases.
“In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half,” said Secretary of the Interior Sally Jewell. read more
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