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This Big Oil Company Has More Cash Than It Knows What to Do With

November 04, 2018, 07:19:00 AM EDT By Tyler Crowe,

This past quarter,  Royal Dutch Shell ‘s (NYSE: RDS-A) (NYSE: RDS-B) results showed the company can fund just about anything it wants right now. A large capital expenditure program? Yup. Pay down some debt? Sure! Fund its dividend? Of course! How about a $2 billion share repurchase program on top of all of that? Why not! The reason it is able to do this is that the company is generating an almost unfathomable amount of cash right now. Shell’s management said this was the most cash it has pulled in since the second quarter of 2008 when oil prices were in the $110-to-$120-per-barrel range. read more

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Shell to invest up to $2 bln annually to explore, produce oil in Brazil through 2025 -report

OCTOBER 18, 2018 / 3:03 PM

RIO DE JANEIRO, Oct 18 (Reuters) – Royal Dutch Shell plans to invest $1 billion to $2 billion annually in oil exploration and production in Brazil through 2025, Brazilian newspaper Valor Economico reported on Thursday.

The investment will be made regardless of the outcome of presidential election Oct. 28, Wael Sawan, executive vice president for Shell’s deepwater division, said in an interview with Valor.

Shell is the no. 2 oil producer in Brazil, where oil majors have spent top dollar in recent months to lock in stakes in its prolific offshore pre-salt play, where billions of barrels of oil lie beneath a thick layer of salt under the ocean. read more

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Shell celebrates 40 years of deep-water innovation

NEW ORLEANS, Oct. 15, 2018 /PRNewswire/ — Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, today marks 40 years since it pioneered the modern deep-water era, celebrating a legacy of innovation that continues as part of the company’s growth strategy.

Shell currently has deep-water projects and exploration opportunities in the U.S., Brazil, Nigeria, Malaysia, Mexico, Mauritania, and in the Western Black Sea. That global presence began with a 1970s prospect, 105 miles southeast of New Orleans in the Gulf of Mexico. read more

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Oil CEOs Jostle for Global Natgas Crown Under Putin’s Gaze

Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden

By Elena Mazneva , Dina Khrennikova , and Jack Farchy

4 October 2018, 00:01 BST

  • Pouyanne responds to Shell investment in Canadian LNG project
  • Russia is now largest source of Total’s oil and gas output

Two oil company bosses shared a stage with one of the most powerful men in the market, and all they wanted to do was brag about natural gas.

Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden hailed his $31 billion liquefied natural gas venture in Canada, the biggest new project since 2013. Very nice, but not as competitive as low-cost Russian supplies, said Total SA boss Patrick Pouyanne. read more

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Shell Adds Material Acreage To Its Deep-water Position In Brazil

RIO DE JANEIRO, Sept. 28, 2018 /PRNewswire/ — Shell Brasil Petróleo Ltda, a subsidiary of Royal Dutch Shell plc (“Shell”), and its bid consortium member Chevron Brasil Óleo & Gás Ltda (“Chevron”), today won a 35-year production sharing contract for the Saturno pre-salt block located off the coast of Brazilin the Santos Basin. Shell will pay its share of the total signing bonus for the block, equating to approximately USD $390 million [R$ 1,562 billion]. read more

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Oil industry group pledges to cut methane emissions

By: , SA News Editor

  • The Oil and Gas Climate Initiative, which U.S. giants Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) joined just last week, commits to cutting methane emissions to an intensity of 0.25% of all fossil fuel the group of 13 member companies produces by 2025.
  • The pledge could be cut further to 0.2% intensity, which would echo targets set individually by group members BP, Royal Dutch Shell (RDS.A, RDS.B) and XOM to reduce methane emissions.
  • “Our aim is to work towards near zero methane emissions from the full gas value chain in support of achieving the goals of the Paris [Climate] Agreement,” the heads of the OGCI members say.
  • The OGCI represents nearly a third of global oil and gas production and also includes France’s Total (NYSE:TOT) as well as national oil companies of China, Mexico, Brazil and Saudi Arabia.
  • read more

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    Shell Brazil evaluating potential purchase of Eletrobras assets

    REUTERS STAFF: AUGUST 22, 2018

    RIO DE JANEIRO (Reuters) – Royal Dutch Shell’s (RDSa.AS) Brazil chief said on Wednesday that the company is evaluating the assets of Centrais Eletricas Brasileiras SA’s (ELET6.SA) that are being put up for sale as part of the state-owned utility’s debt reduction and privatization plans. Andre Araujo also told reporters that the company was considering participating in an upcoming Brazilian government auction for projects in the wind energy sector. read more

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    Shell, Petrobras units probed for Brazil price-fixing

    Pedro Fonseca: JULY 31, 2018

    RIO DE JANEIRO (Reuters) – Brazil’s three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America’s largest oil producer.

    The firms targeted by the probe are Petrobras Distribuidora SA (BRDT3.SA), a subsidiary of state oil company Petroleo Brasileiro SA (PETR4.SA); Ipiranga, a unit of Ultrapar Participações SA (UGPA3.SA); and Raízen, a Cosan SA (CSAN3.SA) and Royal Dutch Shell Plc (RDSa.AS) joint venture. read more

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    Oil majors to bid on choice stakes in Brazil’s offshore

    Oil majors to bid on choice stakes in Brazil’s offshore

    RIO DE JANEIRO (Reuters) – Executives from oil majors were set to gather in Rio de Janeiro on Thursday to compete for stakes in Brazil’s pre-salt oil play, home to some of the world’s most alluring offshore geology, as rising oil prices boost appetite for expensive offshore projects.

    A record 16 companies, including Chevron Corp, BP Plc and Royal Dutch Shell Plc registered to bid for four blocks in the offshore Campos and Santos basins, part of the so-called fourth pre-salt auction on Thursday. read more

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    Brazil only gets bid from Shell for its pre-salt oil

    Reuters Staff: MAY 24, 2018

    By Luciano Costa

    SAO PAULO, May 24 (Reuters) – An auction of oil by the Brazilian government from coveted offshore pre-salt fields has only attracted the interest of one bidder, Royal Dutch Shell Plc , a person familiar with the matter said on Thursday.

    The auction, scheduled for May 30, is the first time the government will sell its share of oil in the pre-salt, where billions of barrels of crude are trapped beneath a thick layer of salt under the ocean floor. read more

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    Argentina sale brings in $950m for Shell

    Shell said that it was selling its downstream business in ­Argentina, which includes 645 petrol stationsMARCOS BRINDICCI/REUTERS

    Emily Gosden: April 25. 2018

    Royal Dutch Shell has agreed to offload its refining and marketing business in Argentina to its Brazilian joint venture for $950 million.

    In the latest stage of a $30 billion divestment programme, the Anglo-Dutch energy group said that it was selling its downstream business in Argentina, which includes a refinery in Buenos Aires, 645 petrol stations and operations selling liquefied petroleum gas, marine and aviation fuels. read more

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    Shell Invests in the Vito Development in the Gulf of Mexico

    Shell rendering of its Vito deep-water development in the U.S. Gulf of Mexico. Vito will feature a new, simplified host design and associated infrastructure.

    HOUSTON, April 24, 2018 /PRNewswire/ — Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, today announces the final investment decision for Vito, a deep-water development in the U.S. Gulf of Mexico with a forward-looking, break-even price estimated to be less than $35 per barrel. This decision sets in motion the construction and fabrication of a new, simplified host design and subsea infrastructure. read more

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    Shell holds tight to shale basin in Argentina

    The Dutch supermajor is selling off everything from its retail stations to a refinery in Argentina, but won’t give up its stake on the Vaca Muerta shale.

    By Daniel J. Graeber: April 24, 2018

    April 24 (UPI) — The Vaca Muerta shale formation in Argentina has substantial growth potential remaining, Shell said Tuesday after it unloaded its downstream business.

    For close to $1 billion in cash, Royal Dutch Shell said it was selling off everything from its retail service stations to its refinery in Buenos Aires to Raízen, the third largest energy company in Brazil. After the close, Shell will still have a footprint in the downstream, or refinery side, of the energy sector in Argentina. read more

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    Shell expands operated footprint in Brazil with new deep-water blocks

    RIO DE JANEIRO, March 29, 2018 /PRNewswire/ — Shell Brasil Petroleo, a subsidiary of Royal Dutch Shell plc (“Shell”), today won four additional deep-water, exploration blocks in the Campos and Potiguar basins, bringing its total operated presence offshore Brazil to 18 blocks. In the 15th deep-water bid round organized by the Brazilian National Petroleum Agency (ANP), Shell secured one exploration block on its own and three in joint-bids with Chevron Brazil, Petrobras, and Petrogal Brasil. Of the newly acquired blocks today, Shell will operate two.  read more

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    Shell interested in fresh natural gas projects in Brazil: executive

    Reuters Staff: MARCH 20, 2018

    RIO DE JANEIRO (Reuters) – Anglo-American oil giant Royal Dutch Shell is interested in new natural gas projects in Brazil, the company’s chief executive for Brazil said at an event in Rio de Janeiro on Tuesday.

    “We are interested. Natural gas is strategic for the company,” Andre Araujo said.

    Reporting by Marta Nogueira

    SOURCE

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    Royal Dutch Shell Management Presents Its “World-Class Investment Case”

    Management thinks the things it has done in recent years will set it up to deliver huge returns for shareholders.

    Tyler Crowe (TMFDirtyBirdMar 19, 2018  It’s hard for a $250-billion-plus business to change its stripes, but Royal Dutch Shell’s(NYSE:RDS-A) (NYSE:RDS-B) has done a rather incredible job over the past few years transforming the company into one of the most compelling investments in the integrated oil and gas industry.Now that Shell has weathered the storm of low oil prices and is back to generating returns, management has plans both within and without the oil industry to preserve what it calls a “world-class investment case.” Here are several quotes from the company’s most recent earnings conference call that highlight some of the efforts Shell is taking to both grow the business and make the stock a better investment.

    Diversifying the business away from oil

    One thing that is becoming a larger fixture of every investor conference call for Shell and other big oil companies is touting one’s alternative energy strategy. Shell is around the middle of the pack when it comes to shifting away from oil and gas, but CEO Ben van Beurden was quick to point out some of the investments the company made recently as well as the framework for its alternative investment strategy.

    So we expect our capital investment in New Energies to be $1 billion to $2 billion on average per year until the end of the decade. But as it is dependent on both organic and inorganic investment opportunities, this might be a little bit more or a little bit less depending on the year. But that’s, of course, without changing the overall group capital investment budget for that year. read more

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    Shell Takes Major Steps Toward Energy Diversification

    By David Messler – Mar 05, 2018, 12:00 PM CST

    Shell has spent the last three years reinventing itself for the energy future it sees in the coming decades. A few years back, Shell was a company struggling to find its footing. Exploration success was declining, as was daily liquids production. From the graph below you can see that the lack of success in exploration was starting to equate to reduced production. An oil company’s life can be measured in production, and they were not replacing the oil being produced. read more

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    Brazil sugar mills start genetically-modified cane plantation

    Among its main shareholders are BNDESPar, the investment arm of Brazil’s development bank, Copersucar, the world’s largest sugar merchant, and Raízen, a joint venture between Cosan SA Indústria e Comércio and Royal Dutch Shell Plc. 

    José Roberto Gomes: 2 MARCH 2018 

    PIRACICABA, Brazil, March 2 (Reuters) – Brazilian sugar mills looking to grow the world’s first variety of genetically modified (GM) sugarcane have planted an initial area of 400 hectares (988 acres), according to the research firm behind the project.

    Developed by Centro de Tecnologia Canavieira (CTC) with Bt (Bacillus thuringiensis) genes that make it resistant to the cane borer, around 100 mills are working with the GM cane, company Chief Executive Gustavo Leite told Reuters. read more

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    In the deepwater versus shale oil contest, Shell backs both

    Ron Bousso, Dmitry Zhdannikov: FEBRUARY 20,2018 LONDON (Reuters) – Royal Dutch Shell (RDSa.L) will expand deepwater output and turn a profit from its shale production in coming years as both together will help the oil major cope with a world of low crude prices, the head of its oil and gas production said on Tuesday.

    Shell’s deepwater production in Brazil, Nigeria, the Gulf of Mexico is much bigger and more profitable, but the firm sees the nimble, fast-returns U.S. onshore shale as an engine for growth.

    “We can see strong (shale) production growth, strong cash surpluses that gives us a balance in our portfolio where you can ramp investment up and down, you can moderate that, very unlike deepwater which is quite chunky,” Andy Brown told Reuters in an interview on the sidelines of the IP Week conference. read more

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    Hail shale, but deepwater oil fights back

    Ron Bousso: 14 FEB 2018

    LONDON (Reuters) – Penguins, Royal Dutch Shell’s (RDSa.L) latest oil and gas development in a remote corner of the British North Sea, epitomizes the new doctrine for deepwater projects — keep it cheap and simple.

    Shunned during the oil price crash of 2014-2016, deepwater projects are being embraced again, a challenge to the surge in onshore U.S. shale output.

    Penguins, the first new major deepwater project this year, will rejuvenate the 44-year-old field by drilling 8 new wells 165 meters (541 feet) underwater and connecting them to a new production vessel. read more

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    Shell collaborates with Oath to launch next phase of its “Make the Future” campaign

    SINGAPORE – Media OutReach – 12 February 2018 – Today, Oath announces a global deal with Mediacom and Shell to take the energy brand’s “Make the Future” campaign into its next phase. The new phase brings the content of its “On Top of the World” music video to life through a crafted WebGL “Globe” activation, created by Oath’s RYOT Studio global solutions team in collaboration with UNIT9: allowing people to explore the five cleaner energy projects featured within the music video through its interactive design. The music video itself features five global artists and celebrates five cleaner energy solutions supported by Shell across four continents that are helping provide access to cleaner energy and support local communities.  This content will reach Oath’s millennial and mobile audiences across five markets (US, UK, Brazil, Singapore, and India) using Tumblr and its Yahoo Gemini and BrightRoll premium video distribution and syndication channels, driving audiences to the interactive “Globe” to explore the content. read more

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    Shell made mistake by pulling out of Guyana basin

    BY BERT WILKINSON: 31 JAN 2018

    Now that Guyana’s oil and gas basin has been deemed as one of the hottest and most exciting prospects in the world, Shell Oil has to be regretting its decision to withdraw as an investment partner with United States giant ExxonMobil, which has so far drilled six successful wells offshore Guyana worth about 3.2 billion barrels of oil, officials said Monday, Jan. 29.

    Minister of Natural Resources Raphael Trotman said Exxon’s mid 2015 “world class” oil and gas find has clearly taken away all the fears and apprehensions about wasting investor dollars exploring offshore Guyana and Shell is one company which has missed out on the chance to cash in on one of the world’s largest oil finds in more than a decade. Exxon plans to begin producing about 120,000 barrels of oil daily in early 2020. This will make Guyana the largest producer in the Caribbean Community. The others are Trinidad, Suriname and Barbados. read more

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

    Written by

    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

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    Shell Is Closing In on Exxon’s Crown

    Even in the dynamic world of business, some things always hold true: the Big Mac outsells the Whopper, Google gets more searches than Bing, and Exxon Mobil Corp. is the world’s biggest public oil company. Or perhaps not.

    Royal Dutch Shell Plc is the closest it’s ever been to attaining the long-coveted prize of overtaking its American rival. While the Anglo-Dutch oil major still has some work left to snatch Exxon’s crown, Chief Executive Officer Ben van Beurden has made getting to the top his restless mission.

    “At the moment we are number two and we are closing in on number one,” he said this month. “We almost have the tiger by the tail.”

    That van Beurden thinks his goal is even in sight shows the risk he took in doing the industry’s biggest deal in decades is starting to pay off. Meanwhile, the strategy charted by Exxon’s former CEO Rex Tillerson has left the American major slightly adrift, according to investors.

    “Ben doesn’t just talk the talk, he walks the walk now,” Richard Hulf, co-manager in Artemis Global Energy Fund, part of a London investment management group that owns both Exxon and Shell shares. “Shell’s got a bit better and Exxon is at a weak point in its cycle.”

    The narrowing gap is likely to show through when both companies post earnings next week. Analysts estimate Shell will report $16 billion of profit in 2017 helped by the acquisition of BG Group Plc. Exxon is forecast to report $15.7 billion of earnings, dropping behind its European rival for the first time in at least two decades. Shell is also likely to have churned out more cash from operations than Exxon last year.

    It’s the $53 billion BG deal that’s really made a difference. When oil’s crash started in the middle of 2014, just months into Van Beurden’s tenure as Shell’s boss, he saw an opportunity. BG’s oil projects in Brazil and gas in Australia were just starting up, easing uncertainty on future growth. Rumored for years to be a suitor, van Beurden finally made the move for the British company.

    The deal immediately put Shell in an exclusive club with Exxon, placing it on a plane above its European rivals Total SA and BP Plc. Some use the phrase ultra-major to differentiate the industry’s big two from the pack – at least until Saudi Aramco’s giant IPO, slated for the end of this year.

    It wasn’t all plain sailing. As oil prices continued to slide in 2014, many analysts thought the price tag was excessive, forcing Shell to borrow too much. Van Beurden was staking his reputation on the deal and he pressed on, seeking to create what he often calls a “world-class investment case.” The company was forced to cut costs, sell assets and rein in spending to keep borrowing under control.

    Still, in the two years since the BG deal closed, Shell’s B shares in London, the most widely traded, have returned more than five times Exxon’s, reversing the performance of the previous two years and providing superior returns for shareholders.

    “Strategically BG was the right deal,” said Iain Pyle, the investment director for U.K. equities at the investment unit of Standard Life Aberdeen Plc, among the largest Shell shareholders. “The only question about it at the time was the price they paid and the stress they put on the balance sheet to do the deal.”

    In the start of 2015, before Shell announced the BG deal, Exxon’s market value was about $180 billion more than Shell’s and it had just reported an annual profit $10 billion higher.

    Since then, Exxon has struggled to keep the business growing. Exxon’s production in the third quarter was 1.8 percent lower than a year ago while Shell’s rose 1.7 percent. The American company’s oil and gas reserves have also dropped (though this may change this year as it books reserves from a  giant discovery  off the coast of Guyana in South America.) The gap in the two companies’ market value has more than halved to about $73 billion.

    Shell’s record takeover fueled speculation Exxon would snap up a big rival to maintain its world-leader status, but it’s recent deal history hasn’t been a resounding success.

    The $35-billion purchase of American shale gas company XTO in 2010 came shortly before gas prices plummeted. It also struck a deal with Rosneft PJSC to explore and develop giant offshore fields in Russia in 2011, right before they became locked behind a wall of U.S. sanctions. These left its “upstream portfolio disadvantaged,” Credit Suisse said. read more

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    Shell Takes a Last Exit From Mideast Oil — WSJ

    By Sarah Kent and Benoit Faucon

    LONDON — Royal Dutch Shell PLC is giving up on its last oil fields in Iraq, leaving the world’s second-biggest oil company with a dwindling footprint in the Middle East — a region it helped build into a petroleum powerhouse.

    Shell said Monday it is selling for an undisclosed amount a stake in the West Qurna 1 oil field in Iraq to Japan’s Itochu Corp., the latest step in a gradual retreat from the region. The company is also expected to give up its holding in Iraq’s Majnoon oil field later this year, though it will retain its natural-gas interests in the country. read more

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    U.S. offers drillers nearly all offshore waters, but focus is on eastern Gulf

    Ernest Sheyder and Valerie Volcovici

    HOUSTON/WASHINGTON (Reuters) – President Donald Trump’s administration has proposed opening up nearly all of America’s offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico.

    The industry’s focus on an area located near a sprawling network of existing platforms, pipes and ports could ease the path to new reserves, and assuage the drilling opponents near other places offered under the Interior Department’s proposed drilling plan issued last week, like California’s Pacific, the Atlantic and Arctic. read more

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    Bolivia says signs $1.6 bln in gas deals with Repsol, Petrobras, Shell

    By Marianna Parraga: NOVEMBER 21, 2017

    SANTA CRUZ, Bolivia, Nov 21 (Reuters) – Bolivia’s government on Tuesday signed natural gas development deals with Spain’s Repsol, Brazil’s Petrobras, Royal Dutch Shell and Pan American Energy that are expected to draw $1.6 billion in investment and boost output.

    The deals cover blocks in the Iniguazu, San Telmo Norte and Astillero gas areas. Repsol, Shell and Pan American Energy will participate in the Iniguazu consortium, while Petrobras will be a partner in the other two. Several units of Bolivia’s state-run YPFB will participate in all the projects. read more

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    Tory ministers lobbied Brazil on behalf of Shell and BP, Government accidentally reveals

    Greg Hands used a meeting with a Brazilian minister to pass on oil companies’ concerns: Rex Features

    Brazilian government later gave major drilling licenses to the two companies

    Liam Fox’s Department for International Trade successfully lobbied the Brazilian government over environmental regulations on behalf of three major oil companies, an official document has revealed.

    Greg Hands, the international trade minister, reportedly made representations on behalf of BP, Shell and Premier Oil during a trip to Brazil in March.

    He asked the Brazilian government to help British companies secure deals to drill in the pre-salt region of Brazilian waters, according to a British diplomatic cable obtained by Greenpeace. read more

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    UK trade minister lobbied Brazil on behalf of oil giants

    A telegram obtained by Greenpeace shows that Greg Hands met a Brazilian minister to discuss relaxation of tax and environmental regulation. Greenpeace accused the department of acting as a “lobbying arm of the fossil fuel industry”. read more

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    Shell to begin drilling in Brazil’s Gato do Mato block in 2019

    Alexandra Alper: NOVEMBER 13, 2017 RIO DE JANEIRO (Reuters) – Royal Dutch Shell Plc’s Brazil chief said on Monday that the oil major plans to begin drilling in 2019 in an offshore block in the coveted pre-salt layer that it won in an auction last month with France’s Total. “We already drilled in the area. We know how to do it. We have the experience. So it is just about putting in place everything that we already have in order to not waste time,” Andre Araujo, Shell’s Brazil unit head, told reporters on the sidelines of an event in Rio de Janeiro.

    The block, South Gato do Mato, is adjacent to a prospect that Shell and Total are already exploring jointly. Shell is operator in both areas with an 80 percent stake.

    Araujo said it was too soon to forecast when the first oil might be produced there, but reiterated that the company is committed to investing an average of $2 billion a year in Latin America’s top economy through 2020.

    Shell won half the blocks awarded in Brazil’s deepwater auction in October in a historic opening of the pre-salt play to foreign operators. Billions of barrels of oil are trapped below thousands of feet of salt in the country’s Atlantic waters. read more

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    Shell Brazil looking for partnerships in new energy

    Reuters Staff: NOVEMBER 13, 2017

    RIO DE JANEIRO, Nov 13 (Reuters) – Royal Dutch Shell PLC’s Brazil chief said on Monday the company is seeking partnerships in new energy.

    Shell Brazil Chief Executive Andre Araujo made the remarks at an event in Rio de Janeiro. (Reporting by Alexandra Alper, writing by Jake Spring; Editing by Alden Bentley)

    SOURCE

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    Royal Dutch Shell: The Cash Machine

     Nov. 6, 2017 12:35 PM ET

    Summary

    • Royal Dutch Shell has reported nearly 50% increase in profits following improvement in energy prices which fueled a turnaround of its upstream division.
    • In the first three quarters of 2017, Royal Dutch Shell generated $15.42 billion of free cash flows (ex. working cap. changes), surpassing even the industry’s cash flow king Exxon Mobil.
    • Oil prices have climbed to almost $61 a barrel and could stay at this level in the future, which could give a major boost to Shell’s earnings and cash flows.

    Royal Dutch Shell (RDS.A, RDS.B) is a well-oiled cash flow machine. In fact, it generates more free cash flows than any other oil majors, and this was evident from the latest quarterly results. The Anglo-Dutch oil giant could get even better in 2018 on the back of improvement in oil prices. The company’s shares will likely move higher while its valuation might also improve.

    Latest Earnings

    Royal Dutch Shell has recently released blowout quarterly results in which it posted significantly higher profits following a strong performance from its upstream, downstream and integrated gas divisions. The company reported an adjusted net profit (attributable to shareholders on a current cost of supplies (CCS) basis) of $4.1 billion, up 47% from the same quarter last year. That blew past the company-provided analysts’ estimate of $3.6 billion. The profits at the upstream segment ballooned from just $4 million a year earlier to $562 million. The profits at the downstream and integrated gas segments rose 28.4% and 37.7% to $2.67 billion and $1.28 billion respectively. read more

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    Royal Dutch Shell takes cashflow crown off Exxon Mobil

    Royal Dutch Shell has taken Exxon Mobil’s cashflow crown, a year after completing the biggest deal in its history.

    Europe’s largest energy company vaulted ahead on this closely watched indicator of financial health in the first nine months of 2017 as assets acquired from BG Group from Brazil to Australia churned out cash. For the year as a whole, Shell is on course to surpass its larger US rival on the measure for the first time in about two decades.

    Shell generated $28.38 billion (€24.34bn) of cashflow from operations in the first nine months of the year, compared with $23.52 billion (€20.18bn) from Exxon. Chief executive Ben Van Beurden has already spelled out that his main long-term goal was overtaking Exxon to become the best-performing oil major. read more

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    Shell, BP, Exxon big winners in historic Brazil oil auction

    Oct. 27, 2017 5:45 PM ET|About: BP p.l.c. (BP)|By: , SA News Editor

  • Brazil auctioned off six of eight exploration blocks in today’s historic opening of its coveted pre-salt offshore oil region to foreign operators, exceeding the government’s expectations with commitments for 6.15B reais ($1.88B) in signing bonuses.
  • Royal Dutch Shell (RDS.A, RDS.B) was especially active, winning stakes in half the blocks awarded and bolstering its position as the largest foreign operator in Brazil’s offshore oil sector, second only to state-run Petrobras (NYSE:PBR); Shell believes it can pump oil from the pre-salt fields at below $40/bbl.
  • BP took two blocks, including the Peroba block, which is estimated to contain 5.3B barrels of oil; it won as part of a consortium that included PBR and a Chinese group.
  • Exxon Mobil (NYSE:XOM) grabbed the Norte de Carcará block – which holds an estimated 2.2B barrels of oil, in a consortium with Statoil (NYSE:STO), which says it also sold a stake in a nearby block to XOM for $1.3B.
  • Brazil Pres. Temer says the auction will generate investments of more than 100B reais ($30B) in the country by the winning oil companies.
  • read more

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    Shell, Exxon win blocks in Brazil’s pre-salt oil auction

    OCTOBER 27, 2017

    RIO DE JANEIRO (Reuters) – Oil majors Royal Dutch Shell RDSA.L and Exxon Mobil (XOM.N) won blocks in Brazil’s coveted pre-salt oil region in an auction on Friday.

    Shell was part of consortia that won two of the four blocks on offer in the first part of an eight block auction. 

    Exxon, in a consortium with Norway’s Statoil (STL.OL) and Portugal’s Petrogal, a unit of Galp Energia (GALP.LS), won another. There were no bids for the fourth block. 

    Another four blocks will be auctioned later on Friday. The eight blocks on offer contain a total of more than 12 billion barrels of estimated oil reserves. read more

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    Brazil vs. Mexico: Latin America’s fight for Big Oil’s money

    “Both are attractive. Both have real potential,” said Wael Sawan, Shell’s executive vice president for deepwater. “We have as a company, I think as an industry, scarce capital resources to be able to make the investments that the particular projects in deep water require.”

    OCTOBER 27, 2017

    After two waves of resource nationalism that left few openings in Latin America for energy giants such as Exxon Mobil Corp (XOM.N), Royal Dutch Shell Plc (RDSa.L) and Total (TOTF.PA), the tables are turning.

    Governments throughout the continent are enacting reforms and changing contract terms to lure oil firms that have slashed spending as they adapt to lower crude prices. Global policy changes to address climate change have given an added sense of urgency to governments in the region and worldwide that are sitting on oil and gas reserves. They want to pump it before it becomes less valuable. read more

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    Brazil judge suspends pre-salt oil auctions set for Friday

    OCTOBER 27, 2017

    BRASILIA, Oct 26 (Reuters) – A federal judge in the Brazilian state of Amazonas issued an injunction on Thursday ordering the suspension of the billion-dollar auctions of pre-salt oil and gas rights scheduled for Friday.

    The injunction was sought by the leftist Workers Party and could easily be overturned if appealed, as is often the case in Brazil.

    Major oil firms are vying for the blocks in Brazil’s offshore pre-salt area, where billions of barrels of oil are trapped under a layer of salt. read more

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    Shell says can pump oil from Brazil’s pre-salt fields below $40/bbl

    Wael Sawan, Executive Vice President for Shell’s deepwater division, poses for a picture before an interview for Reuters during an oil conference in Rio de Janeiro, Brazil October 24, 2017. Picture take October 24, 2017. REUTERS/Bruno Kelly

    Simon WebbAlexandra Alper: OCTOBER 25, 2017

    RIO DE JANEIRO (Reuters) – Royal Dutch Shell will participate in Brazil’s deepwater oilfield auction on Friday and is confident it can pump oil from the fields on offer for less than $40 a barrel, a top Shell executive said.

    Brazil will hold its first auction in four years for its pre-salt oilfields on Friday. The eight deepwater blocks on offer hold billions of barrels in reserves, and for the first time, Brazil will allow foreign oil firms to operate the fields in the region. read more

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    Shell divests its interest in Comgas for a headline of US$380 million

    HOUSTON, Oct. 10, 2017 /PRNewswire/ — Shell Gas BV, Shell Brazil Holding BV and Integral Investments BV (“Shell”) today announce they have signed an agreement with Cosan Ltd. to execute an existing Put Option Agreement, which allows Shell to sell all of its 16.8% interest in Companhia de Gas de São Paulo (“Comgás”) to Cosan Ltd. Under the agreement, Shell will exchange its ~21.8 million common shares in Comgás for Cosan S.A. Indústria e Comércio (“Cosan SA”) shares plus cash. read more

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    Puerto Rico’s Colonial Legacy Doomed It To Dirty Electricity — And Now Darkness

    A class-action lawsuit filed in 2015 accused PREPA of more than $1 billion in fraud, claiming it had taken kickbacks from oil suppliers including Brazil’s Petrobras and Royal Dutch Shell.

    By Alexander C. Kaufman: 28 Sept 2017

    Puerto Rico plunged into darkness last week after the second major hurricane in a month crippled its aging, debt-laden electric utility. The island is projected to be without power for six months or more, as people swelter and lifesaving medical equipment saps generators in what House Speaker Paul Ryan declared “a humanitarian crisis” on Tuesday.

    But it’s not just old, storm-vulnerable transmission lines that need to be replaced.

    Forty-seven percent of the power the troubled Puerto Rico Electric Power Authority generates is from burning oil ― one of the most polluting and least efficient sources of electricity. An additional 51 percent of Puerto Rico’s energy blend comes from a mix of coal and natural gas. Just 2 percent was drawn from renewable sources last year. read more

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    Brazil’s Raízen trying to cut sugar production costs -CEO

    RIO DE JANEIRO, Sept 15 (Reuters) – Brazil’s Raízen, the world’s largest sugar producer, is trying to cut production costs to remain profitable amid depressed international prices, Chief Executive Luis Henrique Guimarães said on Friday.

    Raízen, a 50-50 joint venture between Cosan SA Indústria e Comércio and Royal Dutch Shell Plc, plans to crush up to 63 million tonnes of cane in the current crop season, more than 10 percent of total Brazilian cane output.

    (Reporting by Rodrigo Viga Gaier; Writing by Marcelo Teixeira; Editing by Paul Simao) read more

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    Shell to invest $2 billion per year in Brazil through 2020

    SEPTEMBER 14, 2017 / 5:25 PM

    SAO PAULO (Reuters) – The Brazilian unit of Royal Dutch Shell PLC will invest $2 billion per year in the country through 2020, Flávio Rodrigues, the unit’s director of government relations and regulatory affairs, said at an industry event on Thursday.

    The investment plan does not include potential bids for oil exploration areas, he said, which the government will auction off in September and October.

    On average, the oil company produced 325,000 barrels of oil equivalent per day (boepd) in the first quarter, Rodrigues added.  read more

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    Royal Dutch Shell sees Brazilian counterpart as natural partner

    Dutch supermajor signed a memorandum of understanding to strengthen cooperation for deepwater activity.

    Shell said a memorandum of understanding with a Brazilian company is symbolic of a true partnership for deep waters. Photo courtesy of Royal Dutch Shell.

    By Daniel J. Graeber: Sept. 12, 2017

    Sept. 12 (UPI) — Royal Dutch Shell said it formed a “true partnership of spirit” with a Brazilian company working in tough conditions in the country’s deep waters.

    Shell said it signed a memorandum of understanding with Petroleo Brasileiro, the Brazilian company known also as Petrobras, meant to strengthen cooperation in deep waters.

    “In true partnership spirit between two of the world’s largest energy companies, Shell will benefit from technical solutions, contract management expertise and cost efficient initiatives Petrobras applies to Brazil’s pre and post-salt projects,” Shell’s statement read. “Shell will share with Petrobras its global deep water experience, especially on cost efficiency efforts and use of technology.” read more

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    Shell and Petrobras sign technical cooperation agreement to strengthen deep water partnership

    NEWS PROVIDED BY: Shell Oil CompanySep 11, 2017, 14:14 ET

    RIO DE JANEIRO, Sept. 11, 2017 /PRNewswire/ — Royal Dutch Shell and Petrobras signed last week in The Hague, Netherlands, a Memorandum of Understanding (MoU) to establish a long-term mutual collaboration in developing pre-salt fields in Brazil.

    In true partnership spirit between two of the world’s largest energy companies, Shell will benefit from technical solutions, contract management expertise and cost efficient initiatives Petrobras applies to Brazil’s pre and post-salt projects. Shell will share with Petrobras its global deep water experience, especially on cost efficiency efforts and use of technology. read more

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    Brazil’s Cosan sees better ethanol returns as prices improve

    AUGUST 10, 2017 / 5:02 PM

    By Marcelo Teixeira

    SAO PAULO, Aug 10 (Reuters) – Cosan SA Indústria e Comércio expects ethanol sales to yield better returns than sugar across some Brazilian states, a factor that may prompt one of the country’s largest energy and infrastructure companies to fine-tune its current output mix.

    Raízen Energia, a 50-50 joint venture between Cosan and Royal Dutch Shell Plc that is the world’s No. 1 sugar producer, could adjust the amount of sugar and ethanol it produces if price conditions for the biofuel improves, Cosan’s investor relations head Paula Kovarsky said on a conference call on Thursday.

    Raízen earmarked 57 percent of cane to sugar production in the second quarter, higher than the 55 percent it did a year ago. Simultaneously, Raízen has reduced sugar hedging on an annual basis on hopes of a mid-term recovery in international prices, she added. read more

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    Shell sees Brazil R&D investment this year at $38 mln

    Shell sees Brazil R&D investment this year at $38 mln

    SAO PAULO, Aug 9 (Reuters) – The Brazilian unit of Royal Dutch Shell Plc estimates it will invest around 120 million reais ($38 million) in research and development in the country this year, said André Araújo, head of Shell Brazil unit, on Wednesday.

    (Reporting by Marta Nogueira and Alexandra Alper; Editing by Chizu Nomiyama)

    SOURCE

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    Shell shifts focus to chemicals, refining: Financieele Dagblad

    Anglo-Dutch energy giant Royal Dutch/Shell is shifting its focus toward downstream operations like refining and chemicals and away from traditional upstream activities like exploring for oil and gas, the Financieele Dagblad said on Wednesday.

    This shift is likely to become even clearer when the company publishes its second quarter figures on Thursday, the paper said.

    Shell’s investment in exploration slumped to $157m in the first quarter of 2017 from an annual quarterly average of between $500m to $600m in recent years, the paper points out.  This is partly due to the group’s recent acquisition of the BG Group which has large deep-sea reserves off the coast of Brazil. read more

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    Shell Purchases Deep-Water Production And Storage Vessel

    HOUSTON, ­­­­­­­July 11, 2017 /CNW/ — Shell Offshore, Inc. announces today that its affiliate, Shell E and P Offshore Services B.V., will exercise a contractual right to purchase the Turritella floating, production, storage and offloading (FPSO) vessel from SBM Offshore.  The vessel is contracted for the Stones deep-water development in the Gulf of Mexico, which began production last year.  Shell and SBM will work over the next several months to achieve a safe, smooth transition of the vessel operations. read more

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    Market Realist Royal Dutch Shell articles 30 May 2017

    Visit this webpage to view eleven Shell related articles, all by Michelle Rey, published by Market Realist on 30 May 2017.

    Shell’s Brazilian Deep-Water Portfolio

    Analyst Ratings for Shell: Why Most Rate It a ‘Buy’

    How Shell’s Dividend Outflows Have Trended

    Has Shell’s Leverage Trend Reversed?

    Are Shell’s Cash Flows Getting Revitalized?

    In Which Segment Has Shell’s Capex Plunged?

    Shell’s Segmental Earnings in 1Q17: Upstream Swings to Profit

    Shell’s Upstream Portfolio: Is it Poised to Grow?

    How Shell’s Downstream Portfolio Is Evolving

    How Widespread Are Shell’s Refined Product Markets?

    The Surge of Shell’s Chemical Margin Markers in 1Q17 read more

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    Shell, partners start deepwater production at new FPSO in Brazil

    Published 29 May 2017

    Shell and partners have commenced deep-water production at the FPSO P-66 in Lula South, in the Brazilian pre-salt of the Santos Basin.

    Shell holds 25% stake in the consortium while Brazilian oil firm Petrobras is the operator of the Lula oil field located in the BM-S-11 block with 65% stake.

    The remainder stake of 10% is held by Galp through its subsidiary Petrogal Brasil.

    P-66 is currently positioned in water depth of 2,150m and has the ability to process up to 150,000-barrels of oil and 6-million cubic meters of natural gas per day, stated Shell. read more

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