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Posts on ‘May 3rd, 2019’

Shell pursuing $1B exit from Indonesia LNG project – Reuters

May 3, 2019 9:04 AM ET|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) is moving to sell its stake in Indonesia’s $15B Abadi liquefied natural gas project, Reuters reports, part of its ongoing asset disposal program to raise cash to help pay for its $54B purchase of BG Group in 2015.

Shell hopes to raise ~$1B from the sale of its 35% stake in the Abadi project, according to the report.

Project construction was due to start in 2018 but was delayed in 2016 until at least 2020 after Indonesian authorities instructed a switch from an offshore to an onshore 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

Shell working hard on ‘best outcome’ for Brent decom, CFO says

Oil giant Shell yesterday cited a “strong start to 2019” and increased pre-tax profits as the reason for implementing a bullish share buyback programme.

The firm announced it intends to repurchase almost £20 billion shares by 2025, with the first tranche expected to see it re-aquire £2.1bn over the next three months.

Shell pre-tax profits rose to £7.2bn for Q1 if this year, compared to £6.3bn over the same period in 2018.

But, by Shell’s own preferred method of reporting it also experienced a 7% drop in statutory earnings and a 2% fall in underlying earnings.

Chief executive Ben van Beurden said the firm had delivered “robust results” despite challenging market conditions. 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 not ‘desperate’ to grow US shale despite Anadarko sale: CFO

London — Shell is keen to grow its US shale oil portfolio but does not feel pressured to chase new acquisitions, as Occidental and Chevron battle for control of Anadarko’s Permian-rich upstream assets, Shell Chief Financial Officer Jessica Uhl said Thursday.

Shell doesn’t “need” to do a US shale deal as it already has a strong US portfolio of shale and tight oil, which has further room for volume growth, Uhl said.

“We have significant growth capacity in our existing position and, in that sense, we are not desperate. We don’t need to find new shale exposure … but we like the business,” Uhl told analysts on an earnings call. 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 boss hails ‘huge step up’ in North Sea performance

By Mark Williamson: Group Business Correspondent

ROYAL Dutch Shell finance chief Jessica Uhl has hailed a “huge step up” in performance by the company in the North Sea and underlined the fact it sees big potential in the area.

Speaking after Shell became the latest giant to report a fall in profits amid renewed oil price volatility, Ms Uhl made clear the oil giant’s focus in the North Sea has shifted to growth after a period of retrenchment. 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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