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Posts on ‘June 9th, 2016’

Argentine energy minister hit by Shell shares controversy

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By: Associated Press | Published: June 9, 2016 9:40 AM

Argentina’s government is defending its energy minister who is facing growing criticism for continuing to own shares in Royal Dutch Shell, where he was an executive of the local branch.

Juan Jose Aranguren became energy minister in December. He reported about $1.1 million in Shell’s class A shares in a wealth statement that was released this week.

Cabinet chief Marcos Pena said Wednesday that ”the law is very clear” and there is no conflict of interest. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

North Sea oil: The £30bn break-up

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Kiran Stacey and Alan Livsey

Screen Shot 2016-05-21 at 10.18.28The Pioneering Spirit, a catamaran the length of five jumbo jets, will next year sidle up to Royal Dutch Shell’s Brent Delta oil platform in the North Sea, 115 miles north-east of the Shetland Islands.

In doing so, the ship will have undertaken the heaviest lift ever attempted in the North Sea. More significantly it will also have begun what is expected to be a wave of decommissioning across the North Sea, as oil companies struggling with low prices shut down production and pack up one of the UK’s most successful industries of the past 50 years. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Boom Town…Shell commits to build cracker plant in Beaver County

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Jun 8, 2016By Christian Morrow

After four years of will-they-or-won’t-they, Royal Dutch Shell has announced it will construct a multi-billion-dollar ethane cracker plant at the site of the former Horsehead zinc smelter in Center and Potter townships, Beaver County.

Project will employ thousands

The company announced it was going forward with the project June 7, much to the delight of Allegheny County Executive Rich Fitzgerald who released a statement thanking Shell and congratulating everyone involved in the process, from Governor Tom Wolf to the Marcellus Shale Coalition.

“The project is monumental; the building of this plant will be equivalent to the construction of 25 stadiums,” said Fitzgerald.

“This announcement accelerates our growth to a next level and will provide even more opportunities for our young people. This multi-billion investment will bring economic growth to our region now and for generations to come, and we thank Shell for their decision to invest here.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

What Caused Royal Dutch Shell’s Shares To Soar

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Arie Goren: Jun. 9, 2016 6:14 AM ET

Screen Shot 2016-05-21 at 10.18.28Summary

  • In its Tuesday, June 7, investor meeting, Shell offered a very encouraging update on the company’s strategy, which sets a clear course for stronger returns and free cash flow.
  • Oil prices have shown a significant rebound in the last five months. As such, we can expect much better results for Shell’s upstream operations in the forward quarters.
  • Investing in a supermajor integrated oil & gas company like Royal Dutch Shell will give investors a significant price appreciation when oil prices recover along very generous dividend yielding 7.1%.
  • In my view, we can learn from the company’s new strategy that the dividend is sustainable.

Shares of Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) soared in the last two days after its Chief Executive Officer Ben van Beurden provided on Tuesday, June 7, an update on the company’s strategy, that according to the company, sets a clear course for stronger returns and free cash flow. Shares of RDS.A have increased 6.43% in the last two days and shares of RDS.B have risen 6.58%.

Since the beginning of the year, RDS.A’s stock is already up 15.7% while the S&P 500 Index has increased 3.7% and the NASDAQ Composite Index has lost 0.7%. However, since the beginning of 2012, RDS.A’s stock has lost 27.5%. In this period, the S&P 500 Index has increased 68.5% and the Nasdaq Composite Index has risen 91%. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell relinquishes Canadian Arctic drilling rights

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Screen Shot 2016-05-21 at 10.18.28By Mike De Souza in News, Energy | June 8th 2016

One of the planet’s largest oil companies has just walked away from a large swath of oil and gas reserves in the Canadian Arctic. But it says it hasn’t given up altogether on the prospects of drilling for the fossil fuels in the pristine waters of the North.

Royal Dutch Shell announced it was relinquishing 30 of its oil and gas leases around Lancaster Sound – a region of the Arctic Ocean that the government and local Inuit groups have long tried to protect as a vital habitat for threatened mammals such as narwhals, beluga whales and polar bears. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Companies charged with workplace breaches following Corrib gas death

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Edwin McGreal: Belmullet: 08 JUNE 2016

Two companies have been sent forward to the Circuit Criminal Court in Castlebar on charges following a workplace accident which resulted in the death of a man working on the Corrib gas tunnel in 2013.

Twenty-six year old Lars Wagner was killed, in September 2013, while he was working on the construction of a tunnel for the Corrib gas project.

Mr Wagner, a German native, was working on boring a tunnel to carry the project’s gas pipeline under Sruwaddacon Bay to the Corrib gas refinery at Bellenaboy. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell to end longtime sponsorship with Houston Open

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By Associated Press:
June 8 at 7:20 PM

HOUSTON — Shell Oil Co. has decided not to extend its title sponsorship of the Houston Open after next year, ending the third-longest running title sponsorship on the PGA Tour.

Steve Timms, president and chief executive of the Houston Golf Association, said Shell’s decision to leave after 2017 was a function of its business environment and that the company wants to stay involved in some capacity.

“We’re proud as heck of what will be 26 years of a long-running sponsorship,” Timms said Wednesday. “This will present some opportunities for us. We’re confident in our property. We’re in a big market and we feel good about it.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell ‘fracked’ well in field that spilled oil into Gulf

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NEW ORLEANS — Fracking chemicals were used on at least one of the four Shell oil wells in an offshore field that leaked nearly 90,000 gallons of oil into the Gulf of Mexico last month, but those chemicals were likely long gone before the spill, federal regulators tell WWL-TV.

The government approved the use of a “frac pack” on Well No. 8 in Shell’s Glider Field, about 95 miles south of Port Fourchon, La., on Feb. 12, 2015, according to summaries of drilling permits archived on the federal Bureau of Safety and Environmental Enforcement website. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Follows Total in Buying Iranian Crude After Sanctions End

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  • Vessel with 1 million-barrel crude cargo booked for Europe

  • Total was first oil major to buy Iranian crude for region

Screen Shot 2016-06-08 at 19.11.36By Rupert Rowling, Angelina Rascouet and Julian Lee: June 8, 2016

Royal Dutch Shell Plc is set to ship a cargo of Iranian crude to Europe next month, becoming the second major oil company in the region after Total SA to resume oil trade after some sanctions on the Persian nation’s nuclear program were lifted in January.

Shell booked the Delta Hellas tanker to carry one million barrels of Iranian crude to Europe, loading July 1, according to lists of charters compiled by Bloomberg. Shell declined to comment on the booking.

Among oil majors, Total was the first to resume purchases of Iranian crude after the French oil company chartered a cargo in February. The first shipment to arrive in Europe was for the independent Spanish refiner Cia. Espanola de Petroleos, which unloaded on March 6. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell signals retreat from North Sea amid further cost cutting

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Screen Shot 2016-05-21 at 10.18.28By MARK WILLIAMSON: 8 June 2016

ROYAL Dutch Shell has given a further signal it will retreat from the North Sea as the company said it will continue with deep cuts in spending amid the crude price plunge.

Chief executive Ben van Beurden said the oil and gas giant will focus investment on the kind of big fields which will generate high returns over the long term and which the company has made clear are in short supply in the North Sea.

Shell is investing heavily in two giant fields West of Shetland with BP, which are due to come onstream in coming months and could be in production for years, but has nothing similar in the pipeline. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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