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Posts on ‘March 13th, 2018’

WSJ: Shell in talks on $30B gas supply deal for its Egypt facility

Mar. 13, 2018 5:54 PM ET|By: , SA News Editor

  • Royal Dutch Shell (RDS.A, RDS.B) is in talks over a 15-year deal worth up to $30B to buy natural gas from offshore Israeli and Cypriot fields, liquefy it in Egypt and then transport it to Europe and beyond, WSJ reports.
  • The potential deal is the latest evidence that the eastern Mediterranean Sea’s extensive reserves of natural gas may be nearing the reach of the world’s big oil companies; gas reserves in the waters off Israel, Cyprus and Egypt total an estimated 125T cf, according to energy consultant Wood Mackenzie.
  • U.S. diplomacy has worked for years to try to knit together the economies of once-hostile nations such as Israel, Egypt and Jordan, and developing the eastern Mediterranean as a natural gas hub to lessen Europe’s dependence on Russian energy; a breakthrough occurred last month when Noble Energy and its partners signed a $15B deal to supply gas from two Israeli gas fields to an Egyptian firm.
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    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Despite Alberta’s warnings, oil majors Shell and BP are falling in love with carbon capture technology all over again

    Geoffrey Morgan: March 13, 2018

    HOUSTON — Major oil companies Royal Dutch Shell Plc and BP Plc are taking another hard look at carbon capture storage much to the alarm of Alberta which sank more than a billion dollars in the technology but was heavily criticized for pursuing an expensive method to rein in carbon emissions.

    “I’m fairly surprised,” Alberta Energy Minister Marg McCuaig-Boyd said of the widespread enthusiastic touting of CCS investments at CERA Week, an important Houston energy conference organized by IHS Markit at the beginning of March. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    BSEE: Burial of Subsea Well Led to Oil Spill

    BY MAREX 2018-03-09 20:02:00

    The U.S. Bureau of Safety and Environmental Enforcement (BSEE) has released its final report on the 2016 leak at Shell’s Glider field in the Gulf of Mexico, which resulted in the release of an estimated 80,000 gallons of oil.

    The leak resulted from a fracture in a load limiting joint on the field’s well #4 jumper. The load limiting joint is a pipe fitting that is designed to fail in a known manner when placed under excessive stress, thereby preventing damage to complex, hard-to-repair parts of the subsea production system. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Nigeria State Oil Company Hasn’t Explained Missing Billions

    An agency tasked with cleaning up Nigeria’s murky oil industry says even though financial accountability has improved the state oil company still hasn’t explained billions of dollars of missing revenue.

    While energy producers have cooperated and complied with requirements to publish payments, the Nigeria Extractive Industries Transparency Initiative has struggled with the state-owned Nigerian National Petroleum Corp., Waziri Adio, executive secretary of the agency known as Neiti, said in a March 7 interview in Abuja, the capital. The state oil company hasn’t explained what it did with at least $22.7 billion earned from the sale of oil licenses and in dividends from its stake in Nigeria LNG Ltd. over a 15-year period, he said. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Kazakhstan offers stake in state oil firm to Shell: sources

    FILE PHOTO: Workers carry out maintenance at an oil well on oilfields operated by a subsidiary of the KazMunayGas Exploration Production JSC in Kyzylorda region, southern Kazakhstan, January 21, 2016. REUTERS/Shamil Zhumatov /File Photo   Mariya Gordeyeva, Raushan Nurshayeva: 13 MARCH 2018  STANA (Reuters) – Kazakhstan’s sovereign wealth fund has offered Royal Dutch Shell (RDSa.L) the chance to buy a significant minority stake in national oil company KazMunayGaz KMGZ.KZ (KMG) to make its planned flotation more attractive to foreign investors, two sources familiar with the talks told Reuters.

    State-owned KMG is the central Asian nation’s third largest oil producer and has stakes in all major Kazakh projects including the giant Kashagan oil field. It is Shell’s partner in several joint ventures.

    Samruk-Kazyna, the Kazakh sovereign fund, plans to float KMG next year as part of the government’s privatization program.

    The fund owns a 90 percent stake in the company and Kazakhstan’s central bank holds the remaining 10 percent.

    The central bank took a stake after effectively printing $4 billion to help KMG pay off its debt after the oil price crash.

    A source close to KMG said Shell has been offered the chance to buy a stake of up to 20 percent, which could include the central bank’s stake. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    BP, Shell React to Superbrands Recognition

    by  Andreas Exarheas | Rigzone Staff Tuesday, March 13, 2018

    BP plc and Royal Dutch Shell plc have reacted to the results of the latest UK Superbrands rankings, which saw both companies crowned as one of the top 20 UK business and consumer Superbrands of 2018.

    “We are proud to be included in the Superbrands list,” BP Director of Brand, Duncan Blake, told Rigzone.

    “Our industry is changing rapidly and ensuring that consumers understand how BP is participating in the transition to a lower-carbon future is something we will continue to work for,” he added. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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