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Posts on ‘January 10th, 2018’

Further production cut eyed for Groningen after tremor

|By: , SA News Editor

Dutch gas company NAM says it will propose reducing production at the Groningen gas field following an earthquake on Monday that was the largest in recent years.

NAM, a Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) joint venture that operates the Groningen field, says it will propose a shutdown of some production clusters, leading to a lower production volume overall.

The Dutch government has cut gas production several times in recent years from 39.4B cm in 2015-16, as decades of gas extraction have led to dozens of earthquakes every year in the Groningen region; the new government already agreed to cut output to ~20B cm by 2021 from a current 21.6B cm. read more

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New York City sues 5 major oil companies, claiming they contributed to global warming

The ExxonMobil refinery seen at dusk in St. Bernard Parish, La.

(Gerald Herbert / AP)

Associated Press

New York City is suing five major oil companies, claiming they have contributed to global warming.

Mayor Bill de Blasio says the city will be seeking billions in the lawsuit to recoup money spent by the city for resiliency efforts related to climate change.

The defendants in the city’s federal lawsuit are BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell.

A BP spokesman declined comment. A Shell spokesman said climate change is a complex issue that should not be addressed by the courts. The other three did not immediately comment. read more

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Shell (RDS.A) to Divest Coal Gasification Technology Unit

January 10, 2018, 10:06:00 AM EDT By Zacks Equity Research

Integrated oil and gas company , Royal Dutch Shell plc RDS.A recently agreed to divest its coal gasification technology business and patent portfolio for liquids gasification to Air Products and Chemicals, Inc. APD , an industrial gas provider. The financial terms of the deal, which will close in the upcoming months, are yet to be disclosed.

The technology being sold is clean, efficient and reliable and is used to convert low-value refinery residues and asphaltenes into synthesis gas or syngas.  Moreover, Shell also established a strategic alliance with Air Products with the target to render solutions to the liquids gasification market. The solution range incorporates engineering, procurement, construction activities, plant operations and technology licensing. read more

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Saudi Aramco hires former Shell executive for chemicals business

REUTERS STAFF: JANUARY 10, 2018

KHOBAR, Saudi Arabia (Reuters) – State oil giant Saudi Aramco has hired Olivier Thorel, a former senior executive at Royal Dutch Shell, as executive director for its chemicals business, the company said on Wednesday.

Thorel started his post at Saudi Aramco on Jan. 1. He held various positions with Shell in downstream operations after joining the company in France in 1990, Aramco said in its weekly magazine the Arabian Sun.

Saudi Aramco is growing its investments in downstream including chemicals as part of its strategy to diversify by balancing out its upstream and downstream activities. read more

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Shell sells stake in Iraq oilfield to Japan’s Itochu: oil official

Aref MohammedJANUARY 10, 2018 / 2:06 PM 

BASRA, Iraq (Reuters) – Iraq has approved the sale by Royal Dutch Shell of the company’s 20 percent stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu Corp, a senior Iraqi oil official said on Wednesday.

The deal comes as the Anglo-Dutch company agreed to exit the Majnoon oil venture, one of the largest fields in OPEC member Iraq, and hand over its operation to the state-run Basra Oil Co. (BOC) by the end of June 2018.

“Shell sold its stake in West Qurna 1 to Itochu and the oil ministry approved it. We met with Itochu and discussed the required financial investments and operations at the field,” Ihsan Abdul Jabbar, the head of state-run BOC, told Reuters in an interview.  read more

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Shell develops solar power plant at its Moerdijk chemicals site in the Netherlands

By PennEnergy Editorial Staff Source: Shell

The Netherlands – Shell is developing a solar power plant at its Moerdijk chemicals site, with construction planned to begin in 2018. The project will provide an approximate peak capacity of 20MW of renewable power. The power produced from the solar plant will be incorporated in the energy consumption of Shell Moerdijk. The power produced in the installation is the equivalent of the power consumption of approximately 7,000 Dutch households.

“Developing this solar power plant in Moerdijk fits within Shell’s ambition to play an active role in the Dutch energy transition,” says Marjan van Loon, president-director Shell Nederland. “We are eager to limit emissions through energy efficiency improvements of our processes and investments in new energy activities at the same time. Other examples of Shell’s work in the Netherlands energy transition include offshore wind in the North Sea, electric mobility at our retail sites and residual heat from Shell Pernis.” 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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