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Posts on ‘July 28th, 2017’

Shell Braces For ‘Lower Forever’ Oil As Profits Soar

Shell Braces For ‘Lower Forever’ Oil As Profits Soar

by  Reuters: Ron Bousso & Karolin Schaps: Thursday, July 27, 2017

LONDON, July 27 (Reuters) – Royal Dutch Shell is gearing up for a world of “lower forever” oil prices, its Chief Executive Ben van Beurden said on Thursday, after the company’s profits tripled in the second quarter.

The oil and gas industry has struggled with three years of weak prices while also facing the prospect of oil demand plateauing by the end of the next decade.

But Europe’s largest energy company was able to boost its profits more than expected, increase cash flow to $12.2 billion and reduce debt thanks to asset sales and as big savings introduced since the oil price collapse kicked in. read more

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Shell CEO Ben Van Beurden says his next car will be an electric Mercedes S500e


Jul 28 2017 at 9:03 AM

When the boss of Europe’s biggest listed oil company says his next car will be electric, it says a lot about the future of fossil fuels.

Royal Dutch Shell responded to the worst oil-price crash in a generation with its $US54 billion ($68 billion) takeover of BG Group, betting that demand for natural gas will rise as the world shifts to cleaner-burning fuels. Now chief executive officer Ben Van Beurden says the next thing he’ll buy is a car that doesn’t depend on either oil or gas to run. read more

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Shell eyes possible North Sea target – Penguins

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Chief executive Ben van Beurden said a number of final investment decisions are due to be made in the next 18 months.

And among the eight upstream projects is Shell’s Penguins developments in the northern North Sea comprising of several oil and gas fields in the northern end of the East Shetland Basin.

Although discovered in the 1970s, the cluster field has never been fully developed due to variety of factors including poor reservoir performance, lack of subsea technology, tricky geology involving faults and the large area involved. read more

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Shell backs gas export limits

: Resources reporter, Melbourne: 28 July 2017

Royal Dutch Shell chief executive Ben van Beurden has said he is very supportive of Malcolm Turnbull’s moves to impose export restrictions to increase domestic supply on the east coast, where Shell runs the Queensland Curtis LNG project.

But the oil major has revealed there have been some unspecified operational problems at QCLNG, which exports coal-seam gas from Gladstone.

Speaking on a second-quarter earnings call in London last night, Mr Van Beurden backed the Prime Minister’s intervention in the markets, which gives the government the power to restrict exports from any LNG project that is not a “net contributor” to domestic markets. 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

Shell preparing for world economy that shifts away from oil

By DANICA KIRKA Associated Press

Royal Dutch Shell is planning for the day when demand for oil starts fading as major economies move away from oil and increasingly turn to electric-powered cars, Chief Executive Ben van Beurden said Thursday.

Van Beurden welcomed recent proposals to phase out passenger vehicles powered by fossil fuels in Britain and France, saying they are needed to combat global warming. Shell is looking at “very aggressive scenarios” as it makes plans to remain competitive in a world that gets more of its energy from renewable sources and less from crude oil, or “liquids,” he said. 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

Shell Still Thinks Canadian LNG Project Could Be a Go

By Natalie Obiko Pearson:   

Royal Dutch Shell Plc said it hasn’t written off its Canadian liquefied natural gas project in Kitimat, British Columbia, yet as a global supply glut killed off a competing project earlier this week.

LNG Canada, which is also backed by Mitsubishi Corp., PetroChina Co. and Korea Gas Corp., is still weighing an investment decision that’s expected by early 2019, Shell’s Chief Executive Officer Ben Van Beurden said on a conference call Thursday.

“We need to get the timing properly right — we think we can,” he said. “If we look at an investment decision in the next 18 months or so, this is going to be a project that could start producing right at the moment when the spot market, the short-term market is getting very tight again.” 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

Shell to Shutter Convent Gasoline Unit in Early ’18-Sources

HOUSTON — Royal Dutch Shell Plc plans to begin permanently shuttering the gasoline-producing unit at its 227,586 barrel-per-day (bpd) Convent, Louisiana, refinery in January 2018, said sources familiar with the company’s plans on Thursday.

Shell has rescheduled planned repairs on the heavy-oil hydrocracking unit from spring 2018 to summer of that year, the sources said.

The company plans to overhaul the Convent refinery’s alkylation unit in October of this year, according to the sources. 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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