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Posts on ‘March 18th, 2016’

Exclusive: After Motiva split, Saudi Aramco aims to buy more U.S. refineries – sources

Screen Shot 2016-03-18 at 21.04.31Ending an often rocky nearly 20-year relationship, Shell (RDSa.L) and Saudi Aramco [SDABO.UL] announced on Wednesday plans to break up Motiva Enterprises LLC [MOTIV.UL] after almost two decades, dividing its assets and leaving Aramco with one plant, the nation’s largest crude oil refinery, in Port Arthur, Texas.

Officials from Saudi Refining, the downstream arm of Aramco, told employees following the announcement that the state-owned firm was intent on buying more assets once the Motiva break-up is finished, according to five people who attended the briefing and asked not to be identified due to the sensitivity of the issue. read more

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Better news for oil

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Screen Shot 2016-03-16 at 22.36.32By Ed Crooks: Friday 18 March 2016

Oil continued to creep up this week with Brent going past $42 per barrel, its highest level since early December. Crude was a beneficiary of the wider upturn in markets, which pushed the S&P 500 index briefly back up above its level at the start of the year. The positive correlation between share prices and oil prices seems to be alive and well.

Suggestions that the US Federal Reserve is in no hurry to raise interest rates gave a boost to crude and other markets. Oil was also helped by reports that Opec ministers had at last agreed to hold a meeting with leading non-Opec producers such as Russia, in an attempt to make some progress with their much-discussed, little-implemented production freeze. 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 hospitality tour for EU diplomats branded ‘PR exercise’ by campaigners

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Arthur NeslenFriday 18 March 2016 

An email seen by the Guardian invites energy attaches from the EU’s 28 countries to visit the Shell technology Centre, take an ‘oil majors and oil paintings’ tour of the Van Gogh Museum, and have lunch with Shell’s president in the Netherlands.

Brook Riley, a spokesman for Friends of the Earth Europe said: “It is disgraceful to see Shell splurging profits from dirty, dangerous gas extraction on a blatant PR exercise, with the full support of the Dutch government. It is no wonder the EU’s energy plans are assuming zero improvements in efficiency or renewables. They are acting as though climate change does not exist.” read more

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Shell Reports Leak at Gasoline Unit of Deer Park Refinery

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Royal Dutch Shell PLC reported a leak at the gasoline-making unit of its Deer Park refinery in the Houston area.

“Personnel discovered a leak of naphtha from an elevated pipeline at the Catalytic Cracking Unit,” it said in a filing to the Texas Commission on Environmental Quality. 

It said the incident caused emissions that began Wednesday night and ended Thursday afternoon. 

The Deer Park refinery is a joint venture between Shell and Mexico’s national oil company Pemex.

Write to Dan Molinski at [email protected] 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

$2b Malabu oil block deal: Adoke’s accounts under probe

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Screen Shot 2016-03-18 at 11.23.39Posted By: Yusuf AlliMarch 16, 2016

The Economic and Financial Crimes Commission (EFCC) has started investigating the accounts and transactions of a former Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke(SAN).

Some past public officers are also being probed over the $2billion Malabu oil block deal.

It was learnt that the anti-graft agency is also trying to establish from Adoke’s bankers whether the ex-minister owns safe deposit boxes.

A similar anti-graft agency in The Hague, Netherlands was confirmed yesterday to have searched Adoke’s residence following collaboration with the EFCC. 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

Ex-Shell CEO joins Statoil’s board

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Van der Veer was the chief executive officer at Royal Dutch Shell from 2004-2009, when he retired. Van der Veer then continued as a non-executive director on the board of Shell until 2013. He started to work for Shell in 1971 and has experience within all sectors of the business. In addition, Van der Veer is the chair of the supervisory boards of ING Bank and Royal Philips Electronics and member of the supervisory board of Boskalis Westminster Groep, and has significant competence within corporate governance. read more

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Shell, PetroChina suffer $1.4bn Arrow Energy hit

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  • Matt Chambers
  • The Australian
  • March 18, 2016 12:00AM

Screen Shot 2016-02-17 at 08.47.47Oil giants Shell and PetroChina have been forced into a further $1.4 billion writedown on their Arrow Energy coal-seam gas joint venture in Queensland after drilling in the Bowen Basin failed to deliver expected results and has delayed the project. 

The writedowns, revealed in annual accounts filed with the Australian Securities & Investments Commission, came with an indefinite delay to the Bowen Basin project and 150 job losses at the joint venture company, which was formed in 2010 to acquire the then ASX-listed Arrow for $3.5bn. 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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