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Posts on ‘June 30th, 2016’

Saudi-Iran tensions threaten $5.4bn Japanese refinery merger

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  • MAYUMI NEGISHI
  • The Wall Street Journal
  • 12:00AM July 1, 2016

The battle for hegemony in the Middle East between Saudi Arabia and Iran threatens to up-end a $US4 billion ($5.4bn) merger in Japan.

The family of the late founder of Idemitsu Kosan is opposing a planned merger between the oil refiner — Japan’s second-largest behind JX — and Showa Shell Sekiyu, its smaller rival. Idemitsu has maintained close ties with Iran since the 1950s while Showa Shell is 15 per cent owned by Saudi Arabia’s state-owned Saudi Arabian Oil Co, known as Aramco.

The Idemitsu family said a merger would be “inappropriate” given the growing tensions between the two countries. The two Persian Gulf nations, which belong to rival sects of Islam, are jockeying for political influence in the region and have recently clashed over the question of a cap on crude output. 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 CEO Urges European Governments to Keep Economy Steady After Brexit

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Ben Van Beurden, chief executive officer of Royal Dutch Shell PLC, is seen here in Perth, Australia in April 2016. Mr. Van Beurden urged Europe’s governments to keep the economy steady despite the turbulence created by the U.K.’s referendum. PHOTO: AARON BUNCH/BLOOMBERG NEWS

By SARAH KENT: June 30, 2016 5:49 a.m. ET

Speaking at a conference in London, Ben Van Beurden emphasized the benefits of a single market and free movement of people. “I hope that the future relationship between the U.K. and the rest of Europe will continue to provide conditions for economic growth,” he said. 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.

BRIEF-Shell CEO says UK investment programme remains at $4 bln by 2018

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Screen Shot 2016-05-21 at 10.18.28June 30 (Reuters) –

* Shell CEO says will continue to invest in the UK despite Brexit vote

* Shell CEO says $4 billion investment programme in UK by 2018 will not change

(Reporting by Ron Bousso)

SOURCE

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 boss keen to help UK with climate change, “when it makes business sense”

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Written by Mark Lammey – 30/06/2016 5:59 am

The boss of Royal Dutch Shell (LON: RDSB) wants the oil and gas giant to play a big part in the UK’s quest to meet climate change targets, “when it makes business sense”.

Shell chief executive Ben van Beurden also expects the UK’s energy demand to level off as the country becomes more fuel efficient.

“Social, political and geographical conditions differ from country to country,” Mr van Beurden will say today at the company’s Powering Progress Together Forum. “In other words, the energy transition is likely to play out in a different way and at a different pace in different places. 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.

Royal Dutch Shell says UK energy demand set to fall in future

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Jessica Morris is City A.M.’s industrials reporter. Thursday 30 June 2016 12:06am

The boss of oil major Royal Dutch Shell is set to say that energy demand in the UK will fall, while urging the government to help meet the world’s climate change goals.

Ben van Beurden, chief executive of Shell, will tell an audience at a forum in London later today: “In the UK … demand for energy is likely to level off as a result of, for example, energy efficiency.

“But this does not mean the UK can sit back and relax. It has a legally binding commitment to reduce its carbon emissions by 80 per cent by 2050, from the 1990 level.” 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.

Royal Dutch Shell’s Recovery Will Strengthen The Rally

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Jun. 29, 2016 4:22 PM ET|

Summary

Royal Dutch Shell’s upstream business has struggled on account of lower oil price realizations, but this is about to change going forward.

With Brent now hovering around $50, the average price of oil has improved in the second quarter and this will help Shell improve its realizations in the upstream.

Shell’s upstream performance could improve further as higher inventory drawdown on the back of weakening production and stronger demand will lead to higher prices. 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.

Indonesia’s Pertamina picks Shell to process Iraqi crude -official

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By Wilda Asmarini: Markets | Wed Jun 29, 2016 

Indonesia’s Pertamina has selected Shell to process a million barrels per month of Iraqi crude at a Singapore refinery, a senior official at the state-owned company said on Wednesday.

The quest for oil-processing capacity abroad is partly spurred by a lack of investor interest in building domestic refineries because of unfavourable investment conditions set by the government.

“We’ve selected Shell because they are the most competitive,” said Daniel Purba, senior vice president of Pertamina’s Integrated Supply Chain unit. 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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