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Posts on ‘January 2nd, 2018’

BP takes $1.5 billion charge over U.S tax changes, joining Shell

RON BOUSSO: JANUARY 2, 2018 / 7:34 AM LONDON (Reuters) – BP (BP.L) will take a one-off $1.5 billion charge in its 2017 fourth quarter earnings as a result of new U.S. corporate income tax rules, joining rival Royal Dutch Shell.

The British oil and gas company said on Tuesday the cut in U.S. corporate income tax from 35 percent to 21 percent was expected to positively impact its U.S. earnings in the long run.

But in the short term, lower tax rates would affect its deferred tax assets and liabilities, resulting in a one-off, non-cash charge of $1.5 billion to its fourth quarter results which are due to be announced on Feb. 8, it said.

“The ultimate impact of the change in the U.S. corporate income tax rate is subject to a number of complex provisions in the legislation which BP is reviewing,” BP said in a statement. 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’s departure from Denmark’s refining business canceled

Shell says operations at a refinery in Denmark will continue under its logo after a 2016 agreement terminated without a sale. File photo by akiyoko/Shutterstock.

By Daniel J. Graeber  |  Jan. 2, 2018 at 7:20 AM

Jan. 2 (UPI) — A $30 billion divestment program will be completed this year even after an agreement to sell a Danish subsidiary dissolved, Royal Dutch Shell said Tuesday.

Shell said an agreement signed in late 2016 with refiner Dansk Olieselskab terminated without the sale completing and operations would continue as usual under the Dutch supermajor’s banner.

“Shell Group’s $30 billion divestment program remains on track to complete in 2018, with deals worth $23 billion completed, $2 billion announced and $5 billion in advanced progress,” the company said in a statement. 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

Norway Faces Up to Big Oil’s Snub

Norway is realizing it will have to do without the deep pockets of the biggest oil companies as it seeks to extend an era that has made it one of the world’s richest countries.

The most recent blow came when only 11 companies applied for new blocks in the Arctic Barents Sea, touted as the country’s most promising area for exploration. Chevron Corp. and ConocoPhillips were absent after bidding the last time, while Exxon Mobil Corp. and Total SA remained out of the race. Of the five super-majors, only Royal Dutch Shell Plc applied. 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

What 2018 May Mean For The Oil & Gas Industry

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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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