Aug 30th, 2016
by John Donovan.


Written by Mark Lammey – 30/08/2016 2:02 pm
An Aberdeen-based oil and gas industry expert has called on the UK Government to take an “ethical lead” on offshore decommissioning.
Alex Russell, professor of petroleum accounting at Robert Gordon University, said Shell’s plans to leave large amounts of infrastructure from its Brent field in the North Sea set a bad example for developing countries.
Prof Russell said the UK Government should order a complete clearance of the seabed now, instead of leaving future generations to deal with “unknown consequences”. read more
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Aug 30th, 2016
by John Donovan.


At the moment, there is a global glut of natural gas…
Natural gas is rapidly becoming one of the most traded global commodities, but that doesn’t mean it will have a global price, according to Royal Dutch Shell Plc.
While the fuel can be transported anywhere on liquefied natural gas carriers, it will probably remain regionally priced for the time being, with some contracts continuing to track oil, said Roger Bounds, senior vice president for global gas at Shell. Prices will depend on location, regulation and infrastructure, as some countries replace coal in electricity generation to cut carbon emissions. read more
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Aug 30th, 2016
by John Donovan.

Alex Russell and Peter Strachan: from Robert Gordon University
TUESDAY, AUGUST 30, 2016
Shell is preparing to start the decommissioning of its four gigantic oil platforms in the famous Brent field in the Scottish part of the North Sea – a huge undertaking. Unfortunately, write Professor Alex Russell of the Oil Industry Finance Association and Professor Peter Strachan of Robert Gordon University, the company plans to dismantle only the topsides of the platforms. It wants to leave the Eiffel-tower sized legs, including 64 giant storage cells at the base of these structures, in place. They will take hundreds of years to disintegrate. Russell and Strachan call on the UK government and other North Sea governments to call a halt to these plans. They also demand that the Scottish government will have a say in the project. read more
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Aug 30th, 2016
by John Donovan.

…analysts also say further deals may prove harder to clinch
Aug 30 2016, 11:47 ET | By: Carl Surran, SA News Editor
Analysts say Royal Dutch Shell’s (RDS.A, RDS.B) first oilfield sale after its BG Group acquisition bodes well for its sale talks in the North Sea, Gabon and New Zealand, signaling that buyers will meet the company’s expectations on value.
The $425M sale of the Brutus/Glider fields has an implied oil price of ~$60/bbl, more than $10/bbl above current prices, according to UBS analysts who say “we may now be entering a period where both buyer and seller can see acceptable relative value, unlocking the A&D [acquisition and divestiture] market.” read more
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Aug 30th, 2016
by John Donovan.


Anglo-Dutch oil major agrees to offload certain assets in Gulf of Mexico
by Tsveta Zikolova: Tuesday, 30 Aug 2016, 09:00 BST
Investment companies backed by some of the world’s biggest private equity groups have expressed interest in Royal Dutch Shell’s (LON:RDSA) North Sea assets, the Financial Times has reported. The Anglo-Dutch oil major has unveiled plans to sell some $30 billion worth of assets across its global portfolio over the next three years or so is it looks to shore up its balance sheet in the wake of its acquisition of BG Group which completed earlier this year. read more
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Aug 30th, 2016
by John Donovan.


By Daniel J. Graeber: Aug 30, 2016
HOUSTON, Aug. 30 (UPI) — In a deal that included $425 million in cash, Royal Dutch Shell said it sold off its entire stake in assets held in the U.S. waters of the Gulf of Mexico.
Shell said the sale of the 100 percent stake of three blocks known collectively as the Brutus/Glider assets to EnVen Energy Corp. was in line with the company’s divestment strategy. In July, the company’s chief executive officer, Ben van Buerden, said “significant and lasting changes” were underway as lower crude oil prices continued to present problems for the industry. read more
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Aug 30th, 2016
by John Donovan.


John Dagge, Herald Sun: August 30, 2016
SHELL Australia has blasted the Victorian government’s move to permanently ban fracking and extend a moratorium on conventional onshore gas development, saying it will result in higher energy bills.
Chairman Andrew Smith has also warned the decision will cost the state investment dollars and jobs and make it more difficult for manufacturers, already under pressure, to stay in business.
“Every Victorian household and business will now pay higher energy prices moving forward,” Mr Smith said. read more
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