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Posts from ‘January, 2020’

Shell shares sink as full-year net profit tumbles 23% on lower oil and gas prices

Sam Meredith @SMEREDITH19: PUBLISHED THU, JAN 30 20202:08 AM EST KEY POINTS
  • Net income attributable to shareholders on a current cost of supplies (CCS) basis and excluding identified items,  used as a proxy for net profit, came in at $16.462 billion for full-year 2019.
  • That compared with a profit of $21.404 billion for full-year 2018, reflecting a year-on-year drop of 23%.
  • The Anglo-Dutch energy giant warned last month that it would book additional charges against its income in the fourth quarter.

Oil giant Royal Dutch Shellreported a sharp fall in full-year net profit on Thursday, citing challenging macroeconomic conditions and lower oil and gas prices.

Net income attributable to shareholders on a current cost of supplies (CCS) basis and excluding identified items, which is used as a proxy for net profit, came in at $16.462 billion for the full-year 2019. That compared with a profit of $21.404 billion for full-year 2018, reflecting a year-on-year drop of 23%.

Analysts had expected full-year 2019 net income attributable to shareholders on a CCS basis, and excluding identified items, to come in at $17.770 billion, according to data from Refinitiv. 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.

Shell Oil sued for fiduciary breaches

ROBERT STEYER

Participants in a Shell Oil Co. 401(k) plan sued the company and plan fiduciaries alleging multiple violations of their fiduciary duties for selecting investment options, monitoring the plan, setting fees and dealing with the plan’s record keeper.

The participants also sued the record keeper, Fidelity Investments, plus its parent company, FMR LLC, and several other Fidelity units, claiming that Fidelity also violated guidelines outlined in the Employee Income Retirement Security Act. They accused Fidelity of exploiting its role as a record keeper to cross-sell products to participants that weren’t part of the Shell DC plan. 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.

Royal Dutch Shell Plc Director changes

| Source: Royal Dutch Shell

ROYAL DUTCH SHELL PLC

DIRECTOR CHANGES, APPOINTMENT OF DEPUTY CHAIR AND SENIOR INDEPENDENT DIRECTOR AND BOARD COMMITTEE CHANGES

Royal Dutch Shell plc (the “Company”) announces the following:

DIRECTOR CHANGE

Linda Stuntz, Non-executive Director, and Gerard Kleisterlee, Deputy Chair and Senior Independent Director, will not stand for re-election as Directors of the Company at the 2020 Annual General Meeting (AGM), having served as Directors for nine years. 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.

Malabu Oil deal: EFCC seeks arrest warrant to extradite ex-Minister Etete, others

JANUARY 29, 2020

Yusuf Alli, Managing Editor, Abuja

THE Economic and Financial Crimes Commission (EFCC) has asked the High Court of the Federal Capital Territory for a warrant of arrest to enable it extradite a former Minister of Petroleum Resources, Dauzia Loya (Dan) Etete and two others.

The others are Munamuna Seidougha and Amaran Joseph.

The anti-graft agency has preferred charges against the three suspects before the High Court over the $1.09billion Malabu Oil Block (OPL 245) Settlement Agreement.

The EFCC alleged that Rasky Gbinigie, Munamuna Seidougha (at large), Amaran Joseph sometime in 2013, in Abuja “dishonestly used as genuine the forged form CAC 7 and Board Resolution of Malabu Oil and Gas Limited and the letter of resignation of one Mohammed Sani, which they then knew to be forged documents, to open a bank account No. 2018288005 to receive $401,540,000.00 . 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.

Shell releases new details on Ascension chemical leak, some roads back open

January 24, 2020 12:10 PM: Source: WBRZ: By: WBRZ Staf

GEISMAR – An incident involving hazardous materials has prompted law enforcement to close off multiple intersections near a chemical plant in Ascension Parish.

The sheriff’s office says a situation at the Shell plant along LA 75 prompted them to shut down several roadways nearby. The department says the closures are precautionary, and there appears to be no off-site impact at this time.

A Shell spokesperson response stemmed from a hydrocarbon leak that was first noticed around 8 a.m. The plant’s deluge system was activated to reduce the vapors and a response team was immediately dispatched. 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.

Shell uses plastic waste to produce resin feedstocks

Shell uses plastic waste to produce resin feedstocks

by: Stephen Moore: January 21, 2020

Shell says that it has successfully made “high-end” chemicals using a liquid feedstock made from plastic waste using a pyrolysis process that is considered a breakthrough for hard-to-recycle plastics. The initiative advances Shell’s ambition to use one million tonnes of plastic waste a year in its global chemical plants by 2025.

Atlanta-based Nexus Fuels LLC recently supplied its first cargo of pyrolysis liquid to Shell’s chemical plant in Norco, Louisiana, where it was made into chemicals that are the raw materials for everyday items. Shell Chemicals manufactures ethylene, propylene, and butadiene at the site. 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.

Nord Stream 2 Pins Hope on Germany to Clear EU Gas Rule Hurdle

Nord Stream 2 Pins Hope on Germany to Clear EU Gas Rule Hurdle

Brian Parkin: Jan 21 2020, 9:30 AM

(Bloomberg) — Nord Stream 2 expects regulators to decide by May whether its contested natural gas pipeline linking Germany to Russia will be able to operate as planned.

Already suffering U.S. sanctions, the project led by Gazprom PJSC is pinning its hopes on Germany’s Bnetza regulator to help it clear hurdles erected by European Union competition authorities.

The consortium is being financed by Royal Dutch Shell Plc; Uniper SE and Wintershall AG in Germany; France’s Engie SA; and Austria’s OMV AG. 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.

‘Elevated flaring’ at Shell Norco plant — visible for miles — should end by midweek, company says

The unusually large streak of fire visible recently in the sky over St. Charles Parish should be gone within the next few days, according to a spokesman for Shell Oil Co.

For more than a week, the company’s Shell Norco complex has been in a state of “elevated flaring,” creating what at times has been a flare over its facility large enough that it can be seen for miles.

Shell has said the flaring — which can also be accompanied by loud rumbling noises — was necessary after the complex experienced a series of power dips as a line of storms moved through the area on Jan. 11. 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.

A firm believer in pushing Asian talent

By: | January 20, 2020

Royal Dutch Shell, to give it its full name, has more than 80,000 employees spread across the globe. A large chunk of that workforce is based here in Asia, an exciting and rapidly-growing collection of markets for Shell. Singapore is the regional headquarters for the oil company and Leslie Hayward is its head of HR.

Hayward oversees a region for Shell that employs around 13,000 people, and that’s excluding the huge markets of India and China. It’s a role he’s held for eight years, although he’s been working in HR at Shell for 30 years. He has two portfolios – Singapore and the region. The ‘’region’’ isn’t the typical APAC but covers Pakistan to Japan excluding India and China. Across this region, he manages about 90 people within various HR teams. In Singapore, he oversees 3,000 employees spread across in its west Singapore headquarters, and its plants in Bukom, Jurong Island and Tuas and terminal in Pandan. 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.

Exploring the option of geothermal for Port of Rotterdam, Netherlands

Research into the geothermal port of Rotterdam is entering the next phase, as reported by the Port of Rotterdam Authority.

Shell Geothermal BV and the Port of Rotterdam Authority are jointly investigating the options for geothermal energy in the western part of the port of Rotterdam. The two companies have received an exploration permit from the Ministry of Economic Affairs.

In recent years, the subsurface has been well mapped out, partly as part of the UDG green deal. Obtaining the exploration permit means that Shell and the Port Authority will have time in the coming years to further develop their plan with the aim of developing geothermal heat projects in the western part of the port. Over the next two years, the emphasis will be on making agreements with potential geothermal energy buyers, working out the costs, determining a possible location for a test drilling and figuring out what the infrastructure can look like. It is also essential that geothermal heat can compete with energy from other sources. For the time being, doing a (test) drilling is not yet an issue. 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.

Shell Launches In-Vehicle Payment Platform

HOUSTON — Shell Oil Co. is launching a nationwide in-vehicle payment platform. Shell-branded gas stations across the United States will now accept payment through Uconnect Market, Fiat Chrysler Automobiles’ (FCA) new in-vehicle commerce platform.

This makes Shell the only vendor in Uconnect Market that allows consumers to find the nearest gas station, purchase fuel and services and save money on Shell fuel purchases from the comfort of their vehicles, the company said.

Customers who fuel eligible Chrysler, Dodge, Jeep and Ram brand vehicles at participating Shell stations will be able to use Shell Pay & Save within Uconnect Market to pay for their fuel directly from their in-vehicle touchscreens, earn and redeem valuable Fuel Rewards savings and quickly get back on the road. 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.

Russia set for long-term partnership with OPEC, says Gazprom Neft

JANUARY 17, 2020

MOSCOW (Reuters) – Gazprom Neft, Russia’s third largest oil producer, believes Moscow’s cooperation with OPEC on output will continue into the long term, Deputy Chief Executive Vadim Yakovlev told reporters on Friday.

He praised the decision by OPEC and non-OPEC nations, a group known as OPEC+, to exclude Russian gas condensate from Moscow’s quotas under their latest agreement to curb output, a move that allows Gazprom Neft to expand its condensate production. 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.

Hydrogen lifts off: an old fuel showing new promise

At a service station just outside Gatwick, Royal Dutch Shell is experimenting with an alternative vision of the green motoring future. Beyond the main forecourt, where cars queue for petrol and diesel, lies another, smaller canopy that houses one of Britain’s first hydrogen refuelling pumps. While electric vehicles dominate the discussion about decarbonising transport, the term has become synonymous with batteries that must be plugged in and recharged.

Yet a significant number of heavyweight players — from carmakers such as Toyota, oil giants such as Shell and miners including Anglo American — are continuing to make a case for another type of electric vehicle, powered not by batteries but hydrogen. 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.

Shell-Gazprom Neft JV gets West Siberia license

JANUARY 17, 2020

MOSCOW (Reuters) – Shell and Russia’s Gazprom Neft have expanded their Russian joint venture by acquiring a license for exploration and production of conventional hydrocarbon reserves in West Siberia, the two companies said on Friday.

The JV, Salym Petroleum Development (SPD), will get the Salymsky 2 block in the Khanty Mansiisk Autonomous Region.

There are no field-specific infrastructure facilities at the site, the companies said.

“However, close proximity to the areas which are being developed by SPD will have a synergistic effect, allowing efficient use of the existing SPD production facilities,” they 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.

The Ecologist: ‘Shell is literally destroying our future’

Lucinda Cameron | 16th January 2020

Extinction Rebellion: The more successful fossil fuel companies like Shell are, the worse our future is going to be.

Climate change activists have blocked the entrance to the headquarters of oil giant Shell in Aberdeen.

Extinction Rebellion Scotland members began their protest at the premises on Altens Farm Road at 6.30am on Thursday and said they plan to stay there all day.

The group say they have secured the entrances with lock-on equipment and the main entrance with XR Scotland’s big purple boat, named Amal Gous.

Harm

They said they plan to shut the building down to disrupt business and hold Shell to account for its role in the climate crisis. 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.

Royal Dutch Shell signs MoU with China’s CNOOC to build polycarbonate plant

BEIJING/GUANGZHOU, Jan 16 (Reuters) – Royal Dutch Shell signed a memorandum of understanding (MoU) with China National Offshore Oil Corp (CNOOC) to build its first commercial-scale polycarbonate production plant in southern city of Huizhou in China.

Polycarbonate is a transparent and impact-resistant polymer, widely used to make vehicle headlights and LED spotlights.

“(Huizhou city government) is in touch with Shell and CNOOC for detailed investment and production plans,” said Liu Ji, mayor of Huizhou, on the sideline of a conference in Guangzhou on Thursday. 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.

Solar ‘Farms’ Will Capture Greenhouse Gases to Store in the Soil

PR NewswireJanuary 15, 2020

Partnership with regenerative agriculture enlists grassfed livestock to turn the dirt under solar panels and the surrounding land into a carbon sink

BLUFFTON, Ga., Jan. 15, 2020 /PRNewswire/ — What if renewable energy was not just sustainable but was also regenerative? This is the goal of a partnership between White Oak Pastures and Silicon Ranch Corporation, one of the nation’s largest independent solar power producers and the U.S. solar platform for Shell. In 2020 alone, this partnership will bring holistic planned livestock grazing and regenerative land management practices to nearly 2,400 solar farm acres in Southwest Georgia to create carbon sinks, restore biodiversity and soil health, and add to the environmental, social, and economic benefits of these clean energy projects. 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.

Shell Aims For Dominance In $325 Billion Aviation Fuel Market

Shell thinks aviation fuel will be one of the critical growth areas to explore, as ground vehicle transportation fuel and other segments are expected to decline over time. One of these expected growth segments will be sustainable aviation fuel (SAF), where a project with Lufthansa and World Energy is starting up in California.

Shell Aviation and Boston-based World Energy will help Lufthansa meet carbon emissions reduction targets by supplying the SAF on three routes operated by Deutsche Lufthansa and Swiss International Air Lines from San Francisco International Airport (SFO) to Frankfurt, Munich, and Zurich. The project is expected to supply up to one million gallons of SAF to Lufthansa over the duration of the agreement. 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.

Daimler gets closer to producing fuel cell bus

In Germany, Daimler formed a joint venture with Linde, Royal Dutch Shell and Total to develop a network of hydrogen fueling stations.

URVAKSH KARKARIA

LAS VEGAS — Daimler, the world’s largest truck manufacturer, could commercialize a hydrogen-powered city bus in the next two to three years, r&d boss Markus Schäfer told reporters at CES last week.

While electrification is sweeping the passenger-car side of the industry, fuel cells are a more promising option for larger vehicles because they have better energy density than battery-electric vehicles.

Lithium ion battery chemistry currently struggles to deliver the range long-haul trucks require, Schäfer 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.

Shell New Energies executive steps down

by Tom Russell in Corporate 10/01/2020

Mark Gainsborough, Executive Vice President at Shell New Energies, has revealed that he is stepping down from his role after being involved with the company for 39 years. Gainsborough is to be replaced from 1st April by Elisabeth Brinton, who has been serving as Global VP Strategy & Portfolio for Shell New Energies.

Mark Gainsborough commented on LinkedIn: “It is time for a transition of a different kind! After an amazing 39 years with Shell and almost four years leading our New Energies business, I will end my Shell career later this year. I’m looking forward to contributing to the energy transition in new ways in the next few years. Congratulations to Elisabeth Brinton, who takes the reins from April 1st, and a huge thank you to everyone for all we have achieved together.” 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.

U.S. refinery sales hit the brakes, with 5% of capacity on block

Jessica Resnick-Ault, Laura Sanicola: 10 JANUARY 2020 NEW YORK (Reuters) – From coast to coast, U.S. refineries are available for the taking, but nobody is buying.

With the news that Royal Dutch Shell Plc is looking to unload its Anacortes, Washington, facility, there are seven different U.S. refineries on the block now, accounting for about 5% of U.S. crude oil processing capacity, according to data compiled by Reuters.

Even with U.S. energy production at an all-time record, these properties, located from Washington state to Pennsylvania, are having trouble finding bidders because of unfavorable locales, worries about falling margins, and the coming restart of nearby facilities in the Caribbean that will add to competition, bankers and analysts 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.

Shell pays £0 corporation tax and plans huge hike in fossil output

Shell pays £0 corporation tax and plans huge hike in fossil output

Michael Johnson, Leeds Socialist Party:

Faced with increasing scrutiny worldwide, oil giant Shell has revealed it paid no UK corporation tax in 2018. This is despite Shell also earning nearly £557 million in pre-tax profits in the UK over that year, with global pre-tax profits being $35.6 billion.

This has come about due to Shell receiving huge tax refunds for decommissioning its North Sea oil platforms. To help balance the expenses of plugging and abandoning their (highly profitable) oil wells and removing their equipment, the government lets energy companies deduct costs from their taxable profits or claim back tax they had previously paid! 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.

Work resumes on Canada’s Coastal GasLink pipeline over indigenous opposition

Rod Nickel: JAN 7, 2020

Jan 7 (Reuters) – Construction of the C$6.6-billion Coastal GasLink pipeline in western Canada resumed on Tuesday, after an indigenous group that opposes the project had ordered its workers off their territory.

Coastal GasLink, to be operated by TC Energy Corp, will move gas from northeast British Columbia to the Pacific Coast, where the Royal Dutch Shell-led LNG Canada export facility is under construction.

While less contentious than oil pipelines, Coastal GasLink faces opposition from some leaders of the Wet’suwet’en people, who say the project interferes with their hunting and trapping rights. 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.

Extinction Rebellion protesters occupy Shell gas rig to stop it heading out to North Sea

Activists urge UK government to ‘tell the truth’ about impact of fossil fuel industry

Three members of Extinction Rebellion Scotland have climbed aboard the Valaris 122 rig in Dundee ( Extinction Rebellion Scotland )

Conrad Duncan: 6 JAN 2020

Climate activists have boarded a gas mining rig in Dundee in an attempt to stop it from heading out to the North Sea.

Extinction Rebellion (XR) Scotland has said three of its members had climbed aboard the Valaris 122 rig and intended to there for as long as possible to prevent it from operating.

The environmental group added that the trio had taken all necessary safety precautions and informed police of their “peaceful occupation”. 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.

EBN and Shell joining geothermal heat consortium in the Netherlands

EBN and Shell joining geothermal heat consortium in the Netherlands

FULL ARTICLE

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.

Shell Secures New Concession Deal for Egypt’s Red Sea

Zacks Equity Research: January 6, 2020

Royal Dutch Shell RDS.A along with another supermajor Chevron Corporation CVX and a state-owned entity Mubadala Petroleum clinched oil and gas exploration concessions in Egypt’s Red Sea. In its first ever round of licensing in the Red Sea, Egypt awarded Block 1 and Block 2 to Chevron and Shell, respectively. The third block was jointly conferred on Shell and Abu Dhabi’s Mubadala Petroleum.

The exploration concession wins were in line with Shell’s growth commitment to cement its position offshore Egypt, mainly in the marine concession and deep-water regions, thereby supporting the government’s energy hub vision and increasing the LNG value chain. 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.

Third man pleads guilty to role in Shell oil heist

Shaffiq Alkhatib: Court Correspondent: 3 Jan 2020

SINGAPORE – A former tanker captain linked to the largest gas oil theft that Singapore has ever seen has admitted to his role in the crime.

The Straits Times had earlier reported that 340,000 tonnes of gas oil worth over $200 million had been stolen over the years since 2014 from Shell’s refinery in Pulau Bukom, the largest petrochemical production and export centre in the Asia-Pacific region.

Nguyen Duc Quang, 48, received misappropriated gas oil worth more than US$7.3million (S$9.8 million) in all. 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.

Shell Midstream: Has Some Potential, But Still Has Problems

|

About: Shell Midstream Partners, L.P. (SHLX), Includes: RDS.A

: Macro, energy, alternative energy, contrarian

Summary

  • Shell Midstream’s performance was similar to what it had seen last quarter, although Hurricane Barry had a negative impact because of the shutdowns it caused.
  • The company’s onshore pipelines continue to perform well, with Zydeco a very notable example.
  • There is some very real growth potential offshore as Shell ramps up Appomattox and other companies in the region do the same and pump oil into the Mars pipeline.
  • The company generated an adequate distribution coverage, although it was not as high in this quarter as I would normally like to see.
  • The financial structure is still concerning, as it does not have sufficient assets to cover its debt.
  • 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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