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Posts on ‘January 11th, 2016’

Top Investor Votes Both Ways On Shell Deal

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By Mark Kleinman, City Editor: 11 JAN 2016

A leading City investor is to vote some of its shares in favour of Shell’s £36bn takeover of BG Group, despite its public opposition to one of the oil industry’s biggest-ever deals.

Sky News has learnt that Standard Life Investments will vote its roughly 1.3% stake in BG in support of the tie-up at an extraordinary shareholder meeting later this month.

The decision will follow a vocal effort by Standard Life Investments’ top fund manager, David Cumming, to encourage Shell to renegotiate the terms of the deal. read more

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Oil price to slide towards $20 a barrel, warns Morgan Stanley

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Worst oil bust in 45 years brings US crude below $31 a barrel

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HOUSTON — The oil bust that has cost the United States roughly 70,000 energy jobs has become more severe than any downturn in 45 years, Morgan Stanley said Monday, as crude prices fell a sixth day.

Crude prices tumbled below $32 a barrel on Monday, and over the past 19 months have plunged further and for a longer time than even the 1986 oil bust that deeply bruised the Texas economy. Morgan Stanley says the five major downturns since 1970 no longer can be a credible guide as the oil market enters “uncharted territory.” read more

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Extract from an email sent by OSSL today to Ben van Beurden concerning Shell bribery and corruption in Ireland

Extract from an email sent by OSSL today to Ben van Beurden concerning Shell bribery and corruption in Ireland, as admitted by OSSL, the firm that worked for Shell. This is stated as a fact not an allegation.

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Shell’s key shareholder advisory group gives support for BG Group bid as oil giant predicts oil price will double

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By EMILY DAVIES FOR DAILY MAIL: 11 January 2016

Shell’s mega bid for rival BG Group has received crucial backing in the US as the oil giant’s boss predicts the price of oil could double.

Glass Lewis, which gives guidance to US investors, has said it supports the £36billion offer that Royal Dutch Shell made in April last year.

Shell chief executive Ben van Beurden has shunned suggestions the deal is unwise due to sinking oil prices, currently around $33 per barrel, and has predicted prices will double.

He said: ‘The oil prices we are seeing today are not sustainable and are going to settle at higher levels over the next few decades than the low $60s that we require to make this deal a good deal.’ read more

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SHELL BOSS: The oil slump won’t last

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Will Martin: 11 JAN 2016

The CEO of Shell has made a pretty bullish call on the price of oil just weeks before the company tries to complete its merger with BG Group in one of the biggest oil deals in history.

Speaking with the Sunday Times ahead of a vote by shareholders on the proposed $51 billion (£35 billion) deal, Ben van Beurden said that he couldn’t see today’s oil prices lasting and that he reckoned things would pick up in the coming years (emphasis ours):

“The oil prices we are seeing today are not sustainable and are going to settle at higher levels,” he said, “and higher, in my mind, over the next few decades than the low $60s that we require to make this deal a good deal.” 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 boss bets oil price will double

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Van Beurden told The Sunday Times this weekend he was “very, very confident” it would bounce back.

“The oil prices we are seeing today are not sustainable and are going to settle at higher levels,” he said, “and higher, in my mind, over the next…

FULL ARTICLE

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Deal or No Deal? The Numbers That Matter for Shell’s BG Takeover

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Screen Shot 2015-12-23 at 09.03.45…investors have questioned whether Shell is paying too much after oil prices slumped to the lowest in almost 12 years.

By Rakteem Katakey: JAN 11, 2016

Royal Dutch Shell Plc is a month away from completing its biggest acquisition, which would vault it over Chevron Corp. to become the world’s second-biggest non-state oil company.

The takeover of BG Group Plc would raise Shell’s market value close to $175 billion, boost flagging reserves and production, add to cash flow and bolster its ability to pay dividends, the company says. Yet investors have questioned whether Shell is paying too much after oil prices slumped to the lowest in almost 12 years. 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-BG DEAL PAYS OUT $600 MILLION IN TAX, FEES

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JANUARY 8TH, 2016

The UK finance ministry stands to make close to $300 million and banks, law firms and other advisers will receive as much again, if the Shell-BG takeover gets the go- ahead later this month.

There are less than three weeks to go until the Anglo-Dutch major’s general meeting on January 27th when shareholders vote on the takeover. BG’s own shareholders will vote a day later.

The deal is now worth about $53 billion, down from the initial $70 billion, thanks ultimately to low oil prices. Of that roughly 1% goes in payments, including the UK government’s 0.5% in Stamp Duty. 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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