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July 12th, 2017:

Little surprise in north Mayo over Shell sale of Corrib share

Barrington’s report highlighted Shell’s policy of employing former public officials, former gardaí and former journalists – “giving rise to the appearance that Shell is seeking to influence those who regulate them”.

Lorna Siggins: 12 July 2017

Royal Dutch Shell’s proposed sale of its major share in the Corrib gas field came as little surprise to residents in Erris, Co Mayo whose views are still divided on the multibillion euro project.

After years of acrimony and protest the first delivery of gas from the field was taken in December 2015 and the project was formally opened the following month. This was some 20 years after the gas discovery was reported off the north Mayo coast.

Rossport farmer Wilie Corduff, who was one of five men jailed indefinitely over opposition to the project’s high pressure pipeline route, said the decision by Shell came “16 years too late, as the damage to the community is done”. read more

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Under the Hood of Shell’s $100 Million Loyalty Program

Shell Oil CMO Dan Little. Credit: Shell Oil.

By . Published on .

Did you know that Shell Oil is the only major fuel brand that still operates in all 50 states? The company boasts 14,000 sites across the country, in fact. But the proprietary gas stations of big box retailers and grocery stores have become formidable competitors in the last 20 years, and now account for about half of the market, increasing the pressure on Shell to drive loyalty.

“Forty-two percent of all U.S. drivers frequent or come to Shell,” says Dan Little, the company’s chief marketing officer. “But when it gets to loyalty, which is a measurement of frequency, we’re pretty much middle of the pack versus the other majors.” Little and his team hope to change this statistic with an innovative, many-pronged approach to building consumer loyalty. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Royal Dutch Shell: Talking The Talk, But Walking The Walk?

: July 12, 2017

Summary

  • CEO Ben van Beurden reinforces Shell’s readiness to play its part in achieving Paris agreement targets, but execution on this goal unclear.
  • Shell to acquire Texas company MP2 Energy, which has renewable energy and demand response focus.
  • Shell endorses Task Force on Climate-related Financial Disclosures report.

There is massive change happening in the transition from fossil fuels to renewable energy in the power and transport industries. While the major oil and gas companies have acknowledged the change, apart from Total (NYSE:TOT) there is little indication that other oil companies Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX) or BP (NYSE:BP) have concrete plans to change quickly. Here I consider whether Royal Dutch Shell (NYSE:RDS.A)(NYSE:RDS.B) is getting serious about the change.

All of the oil and gas majors are under pressure, but Shell is particularly challenged as its debt has blown out due the acquisition of BG Group for $50 billion. A key part of the next steps involves debt reduction through divestment. The BG investment could prove problematic as the world is awash with new LNG projects coming on stream. For the last 3 quarters it could pay its high dividend (6.9%) from free cash flow, but this was in an environment where the Brent price was $54/barrel. This can’t continue if the oil price stays where it is now. So it is a pretty challenging time for Shell. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil majors face downgrades if crude prices don’t pick up: S&P

JULY 12, 2017

LONDON (Reuters) – Big oil firms would face increased credit rating downgrade pressures if crude prices stayed below $50 a barrel on average until the end of 2018 and they did not compensate by cutting costs, S&P Global said on Wednesday.

S&P currently has downgrade warnings – or negative outlooks in rating agency parlance – on ExxonMobil XOM.n, Chevron Corp (CVX.N) and Total (TOTF.PA), while the other so-called ‘majors’ include Royal Dutch Shell (RDSa.L) and BP (BP.L). read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Latest: Shell offers to pay victims of Pakistan oil fire

ISLAMABAD — The Latest on efforts to compensate the victims of an oil tanker fire in Pakistan last month that killed 215 people (all times local):

4:30 p.m.

A subsidiary of Royal Dutch Shell says it will pay compensation to the victims of an oil tanker fire in Pakistan last month that killed 215 people, without specifying the exact amount.

After the fuel tanker crashed and started leaking on the side of a highway, hundreds of people from a nearby village rushed to the scene to collect the fuel. They were engulfed in flames when the spill ignited. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell offers to compensate victims of Pakistan oil fire

A subsidiary of Royal Dutch Shell said Wednesday it will pay compensation to the victims of an oil tanker fire in Pakistan last month that killed 215 people, after Pakistan’s oil and gas regulator threatened legal action.

After the fuel tanker crashed and started leaking on the side of a highway, hundreds of people from a nearby village rushed to the scene to collect the fuel. They were engulfed in flames when the spill ignited.

Pakistan wants Shell to pay $2.4 million, or $9,500 to the heirs of each person killed. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Sells Irish Gas Field Stake for $1.2 Billion to Canada Pension Fund

LONDON—Royal Dutch Shell PLC has sold its stake in a controversial Irish gas field for up to $1.23 billion to one of Canada’s biggest pension funds, but the deal will result in a $350 million impairment charge, the company said Wednesday.

Shell the development of the Corrib gas field, located in the Atlantic Ocean about 52 miles off the coast of rural County Mayo.The field began pumping in 2015 after years of delays. WSJ ARTICLE

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell to exit upstream business in Ireland with $1.23 billion stake sale

(Reuters) – Royal Dutch Shell is to sell its 45 percent stake in the Corrib gas venture to a subsidiary of Canada Pension Plan Investment Board for up to $1.23 billion, marking the oil company’s exit from the upstream business in Ireland.

The deal includes an initial consideration of $947 million and additional payments of up to $285 million between 2018-2025, subject to gas price and production, Shell said in a statement on Wednesday.

The transaction will result in an impairment charge of around $350m, which will be taken in Q2, 2017, Shell said. read more

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Prelude

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Shell sells Corrib stake to Canadian pension fund for €1.08bn

By Joe Brennan

Royal Dutch Shell has sold its 45 per cent interest in the Corrib gas field to a unit of Canada Pension Plan Investment Board (CPPIB) in a deal worth up to $1.23 billion (€1.08 billion), as the group continues to sell off non-core assets.

The deal includes an initial consideration of $947 million and additional payments of up to $285 million over the next eight years, subject to gas price and production. It is subject to partner and regulatory consents and is expected to be completed in the second quarter of 2018. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Pakistan threatens action against Shell over tanker fire

By THE ASSOCIATED PRESS: ISLAMABAD — Jul 12, 2017, 3:22 AM ET

Pakistan says it is considering legal action against a subsidiary of Royal Dutch Shell after the company refused to pay $2.4 million in compensation to the victims of a tanker fire last month that killed 215 people.

Imran Ghazanvi, a spokesman for Pakistan’s oil and gas regulator, said Wednesday that a probe found the company responsible for the disaster. After the fuel tanker crashed and started leaking, hundreds of people from a nearby village who had rushed to collect the fuel were engulfed in flames when it ignited. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil Majors Face Ratings Cuts Amid Weak Recovery, S&P Global Says

Exxon Mobil Corp., Chevron Corp. and other oil majors could see their credit ratings slashed again if they fail to cut costs and reduce their growing debt loads in the next year, according to an S&P Global Ratings report.

The world’s largest drillers failed to take advantage of high prices during the boom years before 2014 to repay debt, according to the report published on Tuesday. Instead they embarked on costly investments in new projects and dividends, leaving them unprepared for the painful downturn that ensued. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell and other supermajors say ‘no plans’ for return of Super Pumas

Oil supermajors including Shell have no plans to return controversial Super Puma helicopters to service in the North Sea.

Written by

The Anglo Dutch giant has confirmed that the aircraft, which were subject to a lengthy grounding following a fatal crash off Norway last year, does not feature in the future of the firm’s UK operations despite aviation watchdogs making moves to lift the flight ban.

It comes just a day after fellow supermajor BP revealed it will not consider a return the aircraft to service until a root cause of the Norway crash, which killed 13 people last April, has been identified. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.