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July, 2017:

Shell Oil recently left the Corrib gas field with losses of 2 billion

Opinion: ‘Just one week after banning fracking, we started drilling for oil’

We need a just transition to a low carbon economy, not a sell-off of our future, write Sinead Mercier and Louise Michelle Fitzgerald.

IN AN ORWELLIAN twist of double-speak, on 11 July, just one week after onshore fracking was banned in Ireland, Minister of Communications, Climate Action and Environment Denis Naughten granted consent to Providence Resources PLC to commence drilling for oil in the Porcupine Basin off our south-west coast.

If catastrophic climate change is to be avoided, existing fossil fuels must be kept in the ground. Providence Resources states that they expect to find 5 billion barrels of oil.

As George Orwell wrote in 1984, “doublethink means the power of holding two contradictory beliefs in one’s mind simultaneously, and accepting both of them”. read more

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Shell among firms fined over Indian oilfield dispute, report says

Written by

The dispute over the Panna Mukta oil field when in favour of the Indian Government, the Economic Times reported, citing sources familiar with the matter.

Reliance Industries and Shell have appealed the decision in a UK court, the report said.

The arbitration panel sided with the government in ruling that profit from the fields should be calculated after deducting the prevailing tax of 33%, and not the 50% rate that existed earlier.

The decision will significantly increase the government’s share of profit petroleum. read more

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Idemitsu moves closer to Showa Shell deal after court nod to share sale

By Taiga Uranaka and Osamu Tsukimori

TOKYO, July 18 (Reuters) – Idemitsu Kosan Co said it would proceed with a $1.1 billion sale of new shares, after a court rejected the founding family’s petition to block the offering, potentially clearing the way for a takeover of Showa Shell Sekiyu.

The family has lodged an appeal with the Tokyo High Court, their lawyer said, calling the ruling “unjust”.

The descendents of the Idemitsu founder, Sazo Idemitsu, have been locked in a battle with the Japanese refiner’s management for more than a year over the proposed Showa Shell buyout. The new share sale would dilute the family’s stake and make it harder for them to oppose the deal. read more

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Lawsuits rise against Big Oil

While Washington dithers, the courthouse could become the next battleground against climate change. San Mateo and Marin counties, along with San Diego County’s Imperial Beach, filed lawsuits Monday against 37 oil, gas and coal companies, accusing them of ramping up extraction of fossil fuels for decades even though they knew the resulting carbon pollution would have devastating effects on the planet.

To anyone who followed the long legal fight against Big Tobacco, the arguments have a familiar ring. The plaintiffs claim the defendants: read more

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Shell, RIL, ONGC fined $3 billion in PMT oil field dispute: report

Mumbai: The government has ordered Reliance Industries (RIL), Royal Dutch Shell and Oil and Natural Gas Corp. (ONGC) to pay $3 billion in penalty following an arbitration award in the Panna Mukta Tapti (PMT) oil field dispute that went in favour of the government, Economic Times reported.

“The arbitration panel had upheld the government view that the profit from the fields should be calculated after deducting the prevailing tax of 33%, and not the 50% rate that existed earlier. This will significantly increase the government’s share of profit petroleum. The tribunal also upheld the government’s position that marketing margin should be included in the price of gas, which would also increase its share of profit petroleum as well as a royalty payment,” the ET report said. read more

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4 Things Royal Dutch Shell’s CFO Thinks You Should Know

Tyler Crowe: (TMFDirtyBird): 17 July 2017

We all knew that Royal Dutch Shell‘s (NYSE:RDS-A) (NYSE:RDS-B) management had big plans to transform the company post-BG Group merger, but I don’t think we anticipated it to happen this quickly. Not only has the company executed tens of billions in asset sales over the past several months, but the company’s cash flows from operations seem to suggest that management is wringing out a lot of inefficiencies that have plagued Shell’s returns for years. read more

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Shell to operate fast charging at selected Shell stations in the Netherlands and in the United Kingdom

Shell and Allego are working together to install and operate the first fast chargers for electric vehicles at selected Shell service stations. The project will include selected charging sites at Shell stations in the United Kingdom and in The Netherlands. The goal is that fast chargers are expected to be operational at all selected locations by the end of 2017. The first chargers are due to open in Greater London, Derby and the western part of the Netherlands (Randstad). read more

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Kazakhstan and Eurasia new oil consortium in a multi-billion Caspian project

LONDON (TCA) — In a move presented as glorious and spectacular, oil companies from Russia (Rosneft), China (CNPC), Kazakhstan (Kazmunaygas), Azerbaijan (SOCAR) and Italy (Eni) have teamed up to form a consortium for the exploration and exploitation of what is expected to be a new “giant” located in the very heart of the northern Caspian tectonic structure. The project, if successful and market demand to remain unchanged, should prolong the position of Kazakhstan as a global-scale oil supplier from 2040 till 2080. The Kazakhs are committed to contribute in the order of a billion greenbacks each year from now to the project. No overall picture of the total price tag has been presented so far. read more

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Shell’s textbook lesson on how to lose $1bn on a Mayo gas gusher

Don’t make the mistakes that Shell made in the early days in term of how it approached the concerns of the local community.

Richard Curran: 

The State could be a big loser from Shell’s heavy financial hit on the Corrib gas field. If tax losses racked up by Shell are carried over to the new owners, it will reduce the corporation tax receipts on what will be a profitable venture for some shareholders in the years ahead.

So how did Shell manage to lose nearly $1bn (€870m) on the enormous commercial gas find off the west coast? One easy but rather simplistic explanation is that the protests not only delayed the project but ended up costing Shell a fortune. But $1bn? Hardly. read more

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Shell to Sea protesters ought to pipe down

The Shell to Sea campaign, led and supported by the miffeds, and backed by variegated bands of republicans, faced down the gardai in protest after protest.

Four binary questions divide most western societies. Which is the more important: mercy or justice? Idealism or pragmatism? Truth or freedom? Diversity or unity?

If you answered “mercy, idealism, freedom and diversity” you probably supported the Shell to Sea campaign and are delighted that Royal Dutch Shell, having got its fingers burnt in Co Mayo, is now leaving. You also think that anti-wind farm protesters are reactionary luddites who don’t care about global warming. Also, you are probably female or a “feminist” male, work in the public sector and are a soft republican. We’ll call you M-I-F-D: “miffed”. read more

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Northern Panhandle Activity Picking Up in Wake of Shell’s Cracker Plans

Royal Dutch Shell is building a $6 million cracker in Monaca, Pennsylvania, and nearby businesses are already seeing positive effects

As signs go, Eagle Manufacturing‘s Joe Eddy sees plenty that tell him the Upper Ohio Valley’s economic fortunes are changing.

With one ethane cracker under construction in nearby Monaca, Pennsylvania, and another on the table in nearby Dilles Bottom, Ohio, Eddy says it’s no longer a question of “if” West Virginia’s Northern Panhandle will benefit, but when.

“This opportunity is generational; it’s the best opportunity we’ve had to see growth in the valley for 50 years,” Eddy said. “This type of growth has really never been afforded in the local area. It’s still a big story; it’s the best thing West Virginia has going for it.” read more

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Oil companies facing legal action after breakdowns, flaring and pollution

Rob Edwards: 16th July 2017

THE multinational oil companies that run the Mossmorran petrochemical complex in Fife are facing a legal crackdown for breaching pollution limits and endangering health after nine days of “unplanned” gas flares.

ExxonMobil and Shell are also being beset by demands for an independent inquiry into their ageing plants, which suffered a series of breakdowns last month. The worst incident resulted in a large pall of thick black smoke over Fife on June 18.

Both companies have been accused of “showing contempt for the community” by failing to turn up for a packed public meeting in Lochgelly Town Hall on July 5. Angry residents also attacked public agencies for failing to do enough to protect them from pollution, noise and vibrations. read more

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Scottish SPCA sells investments in oil company Shell

Scotland’s largest animal welfare charity has announced that it has sold its investments in an oil company that tests products on animals.

The Scottish SPCA move came after it faced public criticism for holding a £600,000 stake in Royal Dutch Shell.

Shell has admitted experiments on animals including rabbits, rodents, birds and fish.

The Scottish SPCA said it had sold the shares following “a full review” of its investment portfolio.

The charity had argued that most of its shares in Shell had been donated by supporters – but did admit to buying some shares back in 2005.

Figures published on Shell’s website show the firm was involved with laboratory experiments on more than 100,000 animals in 2015.

Critics had accused the charity of dragging its feet on the issue, which was brought to its attention by journalists in November last year. read more

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Appeals court says third-party companies are liable for compensation in offshore Shell drilling unit collision

Appeals court says third-party companies are liable for compensation in offshore Shell drilling unit collision

by Todd Barnett | Jul. 15, 2017, 8:00am

NEW ORLEANS — A federal appeals court recently ruled that two third-party companies involved in conducting an archaeological sonar survey near an offshore drilling unit in the Gulf of Mexico are not responsible for compensating the two companies found liable for the accident.

On June 21, the U.S. Court of Appeals for the Fifth Circuit affirmed a district court’s ruling that Integrity Fishers Inc. and Sea Eagle Fisheries Inc. are not responsible for compensating Tesla Offshore LLC and International Marine LLC, the parties found at fault in a collision that damaged a submerged mooring line attached to Shell Offshore’s Nautilus offshore drilling unit. read more

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How Europe’s Monster Gas Field Turned Into a Monster Headache

By Kelly Gilblom and Fred Pals: 13 July 2017

Judge to consider demands to close Europe’s largest gas field

Groningen has contributed almost 300 billion euros to budget

What was once a blessing is now an expensive curse

Officials are also considering criminal charges against NAM executives

Ebe Treffers’s dog was antsy for hours before the boom sounded and the house began to shake, scattering dishes across the kitchen floor.

Like other residents of the Groningen region near The Netherlands’ North Sea coast, the retired art teacher was used to the subtle tremors caused by decades of extraction at Europe’s largest gas field. But nobody was prepared for the magnitude 3.6 earthquake that struck after dark on Aug. 16, 2012, assured by both state and project officials that there was nothing to fear. read more

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Trump administration approves Eni plan to drill offshore Alaska

Royal Dutch Shell Plc quit its exploration quest offshore Alaska in 2015 after a ship it had leased suffered a gash in mostly uncharted waters…

WASHINGTON (Reuters) – Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years.

The Bureau of Ocean Energy Management approved the drilling plan of Eni US, a unit of Italy’s Eni on Wednesday as part of President Donald Trump’s plan to boost oil and gas drilling and make the country “energy dominant.” read more

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Corrib gas timeline: 20 years of protests and controversy

12 July 2017

Energy company Shell has sold its 45 per cent stake in the Corrib gas field to a unit of Canada Pension Plan Investment Board (CPPIB) in a deal worth $947 million (€830 million).

Below is a timeline of the controversial gas field’s past.

1996 – Corrib gas field discovery declared by Enterprise Energy Ireland Ltd, which submitted plans to pump it ashore and build an onshore refinery in north Mayo.

2001 – Government petroleum lease granted for Corrib field

April 2002 – Corrib acquired by Shell, which became lead developer with Norwegian company Statoil and Marathon. read more

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Critics argue for Groningen shutdown at Dutch court hearing

Jul. 13, 2017 2:59 PM ET|By: , SA News Editor

Angry Dutch residents living near the huge Groningen gas field told a hearing today at the Netherlands’ highest court that production should be totally stopped, accusing oil companies of causing minor earthquakes and the government of lying.

The Council of State is holding two days of hearings to consider appeals against a government plan to cut production at the field by an additional 10% starting Oct. 1.

Gas production company NAM, a joint venture between Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM), has accepted responsibility for damage caused by the quakes, for which it is paying more than €1B. read more

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Dutch court hearing pits Big Oil against Groningen locals

Bart H. Meijer: JULY 13, 2017 / 12:59 PM

THE HAGUE, July 13 (Reuters) – Angry Dutch residents living near the huge Groningen gas field demanded a total halt to production, accusing oil giants of causing house-damaging earth tremors and the government of lying at a hearing in the Netherlands’ highest court on Thursday.

Two days of proceedings at the Council of State is considering appeals against a government plan to curb production at the massive field by an additional 10 percent from Oct. 1. read more

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Shell unloads its stake in Corrib

Development of the Corrib field sparked a series of confrontations between the Irish police and environmental demonstrators before the first gas was brought ashore two years ago: NIALL CARSON/PRESS ASSOCIATION

Royal Dutch Shell has sold its stake in the contentious Corrib gas project off the Republic of Ireland to a Canadian pension fund for up to $1.23 billion.

The Anglo-Dutch energy group agreed to sell its 45 per cent stake in Corrib, about 50 miles off Ireland’s northwest coast, to a subsidiary of the Canada Pension Plan Investment Board.

The latest deal in a $30 billion divestment programme comprises a $947 million payment up front and up to a further $285 million between 2018 and 2025, depending on gas prices and production. read more

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Shell’s Corrib exit leaves energy giants up to €2.5bn in the red

13 July 2017

Energy groups behind the controversial Corrib gas field off the Mayo coast are as much €2.5 billion in the red on their investment, as Shell’s move to sell a stake to a Canadian state pension fund has left it with loss of up to €1 billion.

Shell, currently in the middle of selling up to $30 billion (€26.3 billion) of assets to cut its debt pile, has agreed to sell its 45 per cent stake to a unit of the Canadian Pension Plan Investment Board (CPPIB).

The deal could be worth as little as €830 million to Shell but its return may rise by up to €250 million over the next eight years subject to future gas prices and the field reaching certain production targets. This would also boost the value of the other investors’ stakes in the project. read more

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Shell secures more land for ethane pipeline

Mary Beth Eastman

Shell Pipeline Co. has acquired an additional six easements necessary for the company to build the 97-mile Falcon Ethane pipeline.

Since December, the company has acquired about 60 easements from Beaver County landowners, mostly in the southwestern in places including Raccoon, Greene and Independence townships.

The pipeline, which won’t be built until 2019, will transport more than 100,000 barrels of ethane and other natural gas liquids daily to Shell’s $6 billion cracker plant being built along the Ohio River in Potter Township. read more

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Losses on Corrib near €2bn as Shell sells up

Losses on Corrib near €2bn as Shell sells up

It had been beset by more than a decade of delays and rows with protesters before production began.

Gavin McLoughlin: 

The Corrib gas field has left Shell and its partners in the project with losses running to the best part of €2bn to date.

Shell announced yesterday it was exiting the project in a deal worth potentially as much as €1.08bn, selling its 45pc stake in the project to a Canadian pension fund, Canada Pension Plan Investment Board (CPPIB).

The deal – which is expected to complete next year – will see Shell take an impairment charge of around $350m (€307m) and write off $400m (€350m) in historical currency movements that have impacted on its valuation of the asset. read more

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Shell pays compensation to victims of Pakistani oil fire

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

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

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Canadian pension fund bullish as Shell pulls plug on Corrib stake

Shell’s disillusionment with the Corrib investment, where protests and opposition delayed production by more than a decade…

13 July 2017

No doubt, Shell is glad to see the back of the Corrib natural gas field, even if it is on track to lose about €1 billion on 15 years of heavy investment in the controversial project.

The sale of its 45 per cent interest in the gas field off the Mayo coast to the Canada Pension Plan Investment Board (CPPIB) for €830 million is part of a $30 billion (€26.3 billion) asset sale programme by the Anglo-Dutch group as it seeks to cut its $90 billion debt pile following its takeover of smaller UK rival BG Group early last year. read more

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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

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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

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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

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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

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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

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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

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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

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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

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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.

Aramco IPO: How It Will Stack Up Against Exxon & Shell

,

As Saudi Aramco’s much hyped IPO approaches, the company’s most recent annual review, released last week, provides insight into its strategic direction. Aramco has positioned itself to be accepted by investors as a major international oil company (IOC) and as a globally diversified energy enterprise with integrated downstream and sales operations around the world. Currently, Aramco is a national oil company (NOC), owned by the government. But upon its expected public offering of shares, it will join the ranks of other major IOCs. 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 Pakistan says to pay fine for tanker fire that killed 217

A Pakistani subsidiary of Royal Dutch Shell on Tuesday agreed to pay a fine of about 257 million rupees ($2.4 million) in compensation for a tanker truck explosion that killed more than 200 people last month.

The fiery blast on June 25 was one of the worst accidents in Pakistan’s history. A tanker carrying fuel rolled over in Punjab province and villagers rushed to collect leaking fuel.

Something then set off a fireball.

The regulator, the Oil and Gas Regulatory Authority (OGRA), held Shell Pakistan responsible for the accident in which 217 people died and 61 were injured. 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 Purchases Deep-Water Production And Storage Vessel

HOUSTON, ­­­­­­­July 11, 2017 /CNW/ — Shell Offshore, Inc. announces today that its affiliate, Shell E and P Offshore Services B.V., will exercise a contractual right to purchase the Turritella floating, production, storage and offloading (FPSO) vessel from SBM Offshore.  The vessel is contracted for the Stones deep-water development in the Gulf of Mexico, which began production last year.  Shell and SBM will work over the next several months to achieve a safe, smooth transition of the vessel operations. read more

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Energy transition chatter should go beyond Western viewpoints, says Shell CEO

Don’t be tone deaf to energy transition concerns of emerging economies, Ben van Beurden tells the World Petroleum Congress.

By in Istanbul, Turkey: July 11, 2017 08:02 BST

Discussions over the global energy mix and the transition to a low carbon global economy should not only focus on Western perspectives, according to Royal Dutch Shell’s chief executive officer Ben van Beurden.

Speaking at the 22nd World Petroleum Congress in Istanbul, Turkey, van Beurden said “too often” energy transition is considered from the perspective of the European or the North American end-user.

“And it is true, that these areas of the world have a historical responsibility for the greenhouse gases in our atmosphere which translates into a responsibility to act today. read more

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How Safe Is The Dividend Of Royal Dutch Shell?

How Safe Is The Dividend Of Royal Dutch Shell?

: July 10, 2017

Summary

*Royal Dutch Shell has not cut its dividend since World War II.

*However, its dividend growth rate has been lackluster at best during the last decade.

*Its dividend payout ratio is remarkably high while its net debt has almost doubled during the last 4 years.

*On the other hand, the company intends to sell $25 B of assets this and next year.

While Royal Dutch Shell (RDS.A) (NYSE:RDS.B) has retrieved half of its losses since it bottomed early last year, it is still 25% lower than its peak three years ago, just before the collapse of the oil price began. As the downturn in the oil market has already lasted longer than initially anticipated, with no light on the horizon yet, the shareholders of the stock are still in pain. Therefore, given that the generous dividend of the stock is the only consolation to the shareholders, it is important for them to evaluate how safe the dividend is. read more

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Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands

By Rakteem Katakey: July 11, 2017

(Bloomberg) — Royal Dutch Shell Plc, the oil company that spent more than $50 billion to buy natural-gas producer BG Group Plc, is looking to expand demand for the fuel in transport to ensure its output is consumed.

Shell is studying developing a global network of liquefied natural gas supply hubs for vehicles including ships, Steve Hill, executive vice president for gas and energy marketing and trading, said Monday at the World Petroleum Congress in Istanbul. 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 among top contributors to greenhouse emissions, report says

by

More than half of global industrial emissions can be traced back to just 25 corporate and state producing entities, the report says.

China, India and Russia’s coal industries and major oil and gas players like Saudi Aramco, Gazprom, ExxonMobil, BP and Shell are among those named in the paper from CDP, formerly the Carbon Disclosure Project.

The research found that 100 active fossil fuel producers were linked to 71% of global industrial greenhouse gases since 1988. read more

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‘Big oil’ dismisses predictions of collapse in demand

by: , Energy Editor: 10 July 2017

Saudi Aramco and Royal Dutch Shell acknowledged that a shift towards renewable energy — including battery-powered cars — was under way but said oil and gas would remain indispensable for decades to come. Ben van Beurden of Shell said the transition to low-carbon technologies would “take place over generations” rather than as a rapid “revolution”.

FULL FT ARTICLE

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Qatar LNG flows unaffected by crisis: Shell

COMMODITIES | Mon Jul 10, 2017 | 9:26am EDT

Qatari exports of liquefied natural gas (LNG) remain stable amid ongoing tension between the world’s biggest LNG exporter and its neighbors, an executive for Royal Dutch Shell said on Monday.

“LNG flows remain stable, cargoes are going into the market,” said Steve Hill, Executive Vice-President for Gas and Energy Marketing and Trading at Shell, one of the world’s biggest LNG traders.

“Qatar is a very credible and competent LNG producer,” Hill said at an industry event in Istanbul. read more

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Could Shell cut its dividend for the first time since World War II?

Tom Howard: 15:15 10 Jul 2017

Shell to cut divi for first time since 1930s?

Oil giant Royal Dutch Shell PLC (LON:RDSB) was the first to grab my attention because of its famous divi.

It hasn’t cut its dividend since at least the 1930 but low oil prices, and possibly expectations of a dividend cut, have weighed on the share price in recent months, and it currently has a yield of 7%.

That’s enough to (just) bring it into the bottom of the screen, which would suggest that a cut could be on the cards.

It’s a suggestion that has been mooted by analysts at Citigroup, who recently said that the whole oil industry is “surely going to have to address the high cost of dividends”, with BP PLC (LON:BP.) and Shell having “the biggest questions (to) answer”. read more

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Violence and peace in the Niger Delta

Monday, Jul 10, 2017

Disruption has been reduced in the oil-producing Niger Delta but violence continues to simmer and will continue to play a role in Nigerian politics, writes Ed Reed

What: Violence in the Delta has fallen since late 2016.

Why: Militants have secured a seat at the table, at state and federal levels.

What next: A degree of violence will continue but it is unlikely to return to 2016 levels in the near term.

Militancy in the Niger Delta dominated the country’s oil industry in 2016, driven by the Forcados closure, which took its toll on Royal Dutch Shell but also on smaller independents. Various groups played a part but the spotlight was dominated by the Niger Delta Avengers (NDA), driven by a media-savvy campaign. read more

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Shell Plans to Spend $1 Billion a Year on Clean Energy by 2020

Royal Dutch Shell Plc plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates.

“In some parts of the world we are beginning to see battery electric cars starting to gain consumer acceptance” while wind and solar costs are falling fast, Shell CEO Ben Van Beurden said in a speech in Istanbul on Monday. “All of this is good news for the world and must accelerate,” while still offering opportunities for producers of fossil fuels. 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.