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Posts on ‘September 7th, 2016’

Shell’s North Sea exit could generate $1bn, says UBS

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Jillian Ambrose7 SEPTEMBER 2016 • 1:27PM

Shell could be in line to make $1bn (£750m) in the next two years by selling off North Sea assets as part of a $30bn divestment drive, according to UBS.

The bank predicts that Shell’s North Sea retreat will begin with a “tidying up” of the oil major’s high-cost, legacy assets but that a sale of its attractive core projects could not be ruled out.

UBS oil analyst Jon Rigby said that sales of the oil giant’s older North Sea assets would only generate “a few hundred million dollars” unless the company opts for a more “radical” approach including ditching stakes in the core projects that make up its $7bn North Sea portfolio. read more

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Locals disappointed at sanction on Shell for gas flaring

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Screen Shot 2016-09-06 at 11.15.18Shell to Sea says €1,000 fine equivalent to ‘65 seconds… of current Corrib sales revenue’

By Lorna Siggins

North Mayo residents living close to the Corrib gas refinery have expressed disappointment at the level of sanction imposed on Shell E&P Ireland over gas flaring last New Year’s Eve.

The multinational was fined €1,000 and ordered ordered to pay €15,000 in legal costs in relation to causing light and noise pollution from a gas flare during start-up testing at the Corrib gas terminal in Co Mayo on December 31st and January 1st.

The company pleaded guilty at Dublin District Court on Monday to breaching two parts of its industrial emissions licence, which had been awarded for project last year by the Environmental Protection Agency (EPA). 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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