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Posts on ‘January 29th, 2018’

Shell shielded from Forties fallout by ‘internationalisation’, North Sea sales

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Shell is performing “extremely well” at a time when Brent crude is at its highest price for three years, the oil giant’s upcoming fourth quarter results will show.

The Anglo-Dutch major is in its strongest position for many years in terms of its cash generation thanks to its upstream and LNG businesses, analysts said.

RBC Capital Markets anticipates Shell’s fourth-quarter adjusted net income will more than double year-on-year. The company recorded adjusted earnings of £1.3billion in Q4 2016.

Analysts said Shell, whose shares are up about 10% over the last 12 months, had been boosted by the sale of assets and disciplined spending.

The company implemented a £21billion-plus divestment plan following its £47billion mega-merger with BG Group, which was completed in 2016.

As part of that programme, Shell sold about £3billion worth of North Sea assets to Chrysaor in 2017.

RBC analysts said the company would have cashed in £1.1billion in the fourth quarter from the proceeds of UK North Sea sales alone. 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

Why Canada is the next frontier for shale oil

FILE PHOTO: Four rigs drill at the Super Pad in Seven Generations Energy’s Kakwa River Project in northwest Alberta, Canada in a photo provided January 19, 2018. Seven Generations Energy Ltd/Handout via REUTERS

Nia Williams: 29 JAN 2018

CALGARY, Alberta (Reuters) – The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oil sands.

Now Canada is looking to its own shale fields to repair the economic damage.

Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations, which they say could rival the most prolific U.S. shale fields.

Canada is the first country outside the United States to see large-scale development of shale resources, which already account for 8 percent of total Canadian oil output. China, Russia and Argentina also have ample shale reserves but have yet to overcome the obstacles to full commercial development. 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

Nigeria: 5 Months After, Irate Residents Still Occupy Shell Flow Station

By Victor Edozie: 29 JAN 2018

Port Harcourt — Five months after it shut down Shell flow station at Belema, hundreds of indigenes of Kula are still occupying Shell flow at Belema in Akuku-Torlu Local Government Area of Rivers State.

The indigenes, drawn from Offoinama, Belema and Ngeje, occupied the flow station in August 2017 shortly after it was shut down by irate youths of the community.

A visit by our reporter to the flow station at the weekend revealed that hundreds of nursing mothers, men and youths are still occupying the facility. 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

MPs angry as Shell distances itself from NAM earthquake claims

There has been furious reaction after energy giant Shell distanced itself from possible claims for earthquake damages in Groningen province made against its subsidiary gas production company NAM.

MPs are calling for an emergency debate to discuss the issue, the Financieele Dagblad reported on Monday.

In addition, farmers in the earthquake-damaged province of Groningen are planning a demonstration Monday evening in Delfzijl, local paper Dagblad van het Noorden said. Farmers claim subsidence harms their crops and threatens their manure stores.

Moreover, many claim NAM does not have the money to settle the escalating claims which are certain to reach billions of euros.

The row was triggered on Saturday when Trouw said Shell was backing away from possible earthquake damages claims made again NAM, an assertion based on Shell Nederland’s annual report published in June 2017. 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

Oil Boom Gives the U.S. a New Edge in Energy and Diplomacy

A pump jack in a Permian Basin oil field in West Texas. The area has been a focus of the shale drilling boom. Credit Spencer Platt/Getty Images North America

HOUSTON — A substantial rise in oil prices in recent months has led to a resurgence in American oil production, enabling the country to challenge the dominance of Saudi Arabia and dampen price pressures at the pump.

The success has come in the face of efforts by Saudi Arabia and its oil allies to undercut the shale drilling spree in the United States. Those strategies backfired and ultimately ended up benefiting the oil industry.

Overcoming three years of slumping prices proved the resiliency of the shale boom. Energy companies and their financial backers were able to weather market turmoil — and the maneuvers of the global oil cartel — by adjusting exploration and extraction techniques. 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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