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Posts on ‘February 16th, 2017’

Shell loses $254m court case

Written by Energy Reporter – 16/02/2017 6:02 am

Kuala Lumpur Regional Centre for Arbitration awarded MISC $254.4million in its ruling.

MISC had filed an arbitration proceeding against Sabah Shell in September last year. The firm sought resolution of contractual disputes covering claims for outstanding additional lease rates, payment for completed variation works and other associated costs.

“This adjudication decision is expected to have a positive impact on the earnings per share, gearing and net assets per share of MISC for the financial year ending 31 December 2017 onwards,” MISC 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.

Statoil joins Shell and other foreign companies exiting Canadian projects

Posted by Mark Young:15 Feb 2017

Norway’s oil and gas powerhouse Statoil ASA has finalised its exit from the Canadian oilsands and is by no means alone in a list of high-profile internationally-based operators to agree a sale of Canadian upstream assets during the past 12 months.

Statoil (Oslo:STL) is selling its interest in the Kai Kos Denseh project to Athabasca Oil Corp. (TSX:ATH) for an initial Cdn$578 million. Analysis of this transaction can be found here.

Other significant sales agreed upon in 2016 by non-Canadian companies include: 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 says receives indictment request in Nigeria oilfield dispute

Royal Dutch Shell (RDSa.L) said it received notice on Tuesday of a request for indictment related to a 2011 settlement of long-standing disputes over an offshore block in Nigeria (OPL 245) .

The tribunal of Milan has fixed the preliminary hearing for 20 April 2017, the company said in a statement. “We don’t believe a request for indictment is justified and we are confident that this will be determined in the next stages of the proceedings. We continue to take this matter seriously and co-operate with the authorities,” Shell added. Shell and Eni on Tuesday said they have asked a Nigerian court to lift a temporary forfeiture of assets and the transfer of operations of the OPL 245 field owned by Shell and Italy’s Eni (ENI.MI), among others, to the federal government. 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.

Can BP plc and Royal Dutch Shell plc survive the coming oil price crash?

By The Motley Fool  Feb 15, 2017

Last year’s surprise OPEC and non-OPEC oil production cuts were supposed to herald a new area of higher energy prices, but it hasn’t really happened. Oil bulls who predicted oil could hit $60 or $70 a barrel will have been disappointed, with the price stalling around $55. If the price can’t rise now, when will it rise? Or could it even crash?

Oil slip

Any further slippage would spell bad news for FTSE 100 giants (LSE: BP) and Royal Dutch Shell(LSE: RDSB). They are banking on a higher oil price to keep the cash flowing, and ensure their dividends are sustainable in the longer run. 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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