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The Big Oil Side Hustle: Where ‘Renewable’ Money Is Really Going

The Big Oil Side Hustle: Where ‘Renewable’ Money Is Really Going

By Alex Kimani – Oct 20, 2020, 6:00 PM CDT

In 2016, Shell set an ambitious goal to invest $4bn to $6bn in clean energy projects by 2020, though the Guardian recently reported that it was unlikely to meet that target. So, why is Big Oil still dragging its feet…

Every time an oil and gas major announces a major foray into renewable energy, the skeptics come out like clockwork and lambast the sector for merely trying to burnish its green credentials. 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.

Oil Majors Stuck Between A Rock And A Hard Place

Oil Majors Stuck Between A Rock And A Hard Place

By Andreas De Vries – Oct 18, 2020, 6:00 PM CDT

Extracts

The past few years have been historic for as far as crude oil forecasts are concerned. Back in 2015 the view that crude oil demand could peak during the 2020s or 2030s was still met with disbelief (and some ridicule…). Economic growth had been pushing crude oil demand up ever year for decades already, so why would things become different, so the reasoning went. Today, however, essentially all major energy forecasters, including BPShellTotalDNV-GL, the IEA and even OPEC, have come round and acknowledge Peak Oil Demand as a realistic possibility. 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.

Gas company NAM to cut hundreds of jobs as prices drop and production is squeezed

Gas company NAM to cut hundreds of jobs as prices drop and production is squeezed

October 15, 2020

Dutch gas company NAM is cutting its workforce by hundreds of jobs as gas prices fall and production is cut back.

Over the next six months, 200 to 300 of the permanent workforce of 1,300 will be able to take advantage of a voluntary redundancy scheme and a further 300 contract workers will be let go, regional paper Dagblad van het Noorden said.

Director Johan Atema told the paper that the company had been hit by falling gas prices. ‘We are supplying almost as much gas as last year, but our income has halved,’ he said. ‘Then you are talking about a crisis situation.’ 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.

TIMELINE-Twists and turns in Russia’s Nord Stream 2 gas pipeline to Germany

TIMELINE-Twists and turns in Russia’s Nord Stream 2 gas pipeline to Germany

By Reuters Staff: OCTOBER 7, 2020

Oct 7 (Reuters) – Poland has fined Russia’s Gazprom more than $7.6 billion for building the Nord Stream 2 gas pipeline without Warsaw’s approval, its watchdog said on Wednesday.

Russia’s bid to double its gas export capacity across the Baltic Sea has prompted opposition, including U.S. sanctions, stalling completion of the $11 billion pipeline.

In addition to Europe’s increased reliance on Russian gas, opponents are wary of Moscow’s motives as the pipeline will allow it to curb gas transit via Ukraine, cutting off a source of revenue for Kiev. 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 adopts new commercialisation and generation structure in Brazil

Shell adopts new commercialisation and generation structure in Brazil

October 7 (Renewables Now) – Oil and gas major Royal Dutch Shell Plc (AMS:RDSA) has adopted a new structure in Commercialisation and Electric Generation in Brazil.

Shell Brasil will follow a business strategy that focuses on the generation and storage of renewable energies and natural gas, as well as on the commercialisation and optimisation, and sales to end consumers of company-branded integrated energy solutions. The director of New Energies of Shell Brasil, Guilherme Perdigao Nascimento, will lead this business. 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 backs hydrogen for shipping’s decarbonization

Shell backs hydrogen for shipping’s decarbonization

London — Energy group Shell has revealed plans to back hydrogen fuel cells on the road to shipping’s 2050 decarbonization goals, tagging LNG bunkers as the bridging fuel between that and conventional oil-based bunker fuels.

“We believe liquid hydrogen to be advantaged over other potential zero-emissions fuels for shipping, therefore giving a higher likelihood of success,” it said in its latest report, ‘Decarbonising Shipping: Setting Shell’s Course.’ 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.

LNG Canada construction delay creates cost uncertainty, clouds world supply

LNG Canada construction delay creates cost uncertainty, clouds world supply

Corey Paul: 2 Oct, 2020

Two years after a Royal Dutch Shell PLC-led consortium gave the commercial go-ahead for the massive LNG Canada export terminal in British Columbia — dubbed the single largest private sector investment in Canadian history — construction delays have clouded the LNG supply picture and raised the prospect of cost overruns.

The project was likely about four months behind schedule in February because of factors that included delays in engineering and making equipment for the terminal off-site, according to analysts at the investment research firm Webber Research & Advisory. Now the project is probably around six months behind, which is enough to suggest the potential for significant cost overruns and pressure on a planned expansion, the firm 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.

Big Oil’s $110 billion asset sale target could prove big ask

Big Oil’s $110 billion asset sale target could prove big ask

By Ron Bousso: October 1, 2020

LONDON (Reuters) – Leading energy companies are hoping to sell dozens of oil and gas fields and refineries worth more than $110 billion to curb both their ballooning debt and their carbon footprints.

But with the outlook for oil and gas prices uncertain because of the coronavirus pandemic and a shift to cleaner energy, finding buyers and striking deals might prove tricky.

“This is not a very good time to sell assets,” Total CEO Patrick Pouyanne said while presenting the French giant’s strategy to switch to renewables on Wednesday. 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.

FROM LEADER TO LAGGARD

FINANCIAL TIMES

Shell slims down to shape up for the energy transition

…the Anglo-Dutch group has been forced into previously unthinkable moves, change and scrutiny of its capital allocation plans mount, is scrambling to come up with an updated plan. In the meantime, it is cutting costs and streamlining.

On Wednesday it offered a glimpse into Project Reshape, its organisational restructuring in which up to 9,000 jobs will be cut from its 83,000-strong workforce to save $2.5bn a year.

All Shell is thinking about is how do we maintain our position as a market leader in every sense — from climate action to staying competitive in the oil and gas space,”one company insider said. “The fear is that we go from being a leader to a laggard. 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.

Australia trims 2020-21 LNG export forecasts on COVID-19, production issues

Australia trims 2020-21 LNG export forecasts on COVID-19, production issues

Sydney — Australia has cut forecasts for the country’s LNG exports for 2020-2021 (July-June) by some 6% to 75.6 million mt, citing the expected impacts of both the COVID-19 pandemic and domestic technical issues.

If realized, the forecast for the current fiscal would see volumes fall by 3.7 million mt year on year. They are expected to recover in 2021-2022 to 80.1 million mt, the Department of Industry, Science, Energy and Resources said Sept. 28 in a report. 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. and European Oil Giants Go Different Ways on Climate Change

U.S. and European Oil Giants Go Different Ways on Climate Change

While BP and other European companies invest billions in renewable energy, Exxon and Chevron are committed to fossil fuels and betting on moonshots.

By Sept. 21, 2020, 5:00 a.m. ET 

HOUSTON — As oil prices plunge and concerns about climate change grow, BP, Royal Dutch Shell and other European energy companies are selling off oil fields, planning a sharp reduction in emissions and investing billions in renewable energy.

The American oil giants Chevron and Exxon Mobil are going in a far different direction. They are doubling down on oil and natural gas and investing what amounts to pocket change in innovative climate-oriented efforts like small nuclear power plants and devices that suck carbon out of the air. 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.

Kosmos Energy to sell some exploration assets to Shell

COMMODITIES: SEPTEMBER 9, 2020 / 8:01 AM

Kosmos Energy to sell some exploration assets to Shell

(Reuters) – Oil and gas producer Kosmos Energy said on Wednesday it agreed to sell certain exploration assets in Africa and South America to a unit of Royal Dutch Shell for up to $200 million.

Shell will acquire the company’s participating interest in blocks offshore São Tomé and Príncipe, Suriname, Namibia and South Africa, Kosmos said in a statement.

Kosmos said it plans to use up to one-third of the initial sale proceeds of $100 million to test two high-quality infrastructure-led exploration prospects in the Gulf of Mexico. 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 begins restart of Prelude FLNG after seven-month suspension

Shell begins restart of Prelude FLNG after seven-month suspension

|About: Royal Dutch Shell plc (RDS.A)| By: , SA News Editor 

  • Royal Dutch Shell (RDS.A -0.1%) says it has begun restarting operations at its 3.6M mt/year Prelude floating liquefied natural gas facility offshore Western Australia, which has been offline since February due to technical problems.
  • The suspension of cargo loadings at Prelude followed an order from Australia’s upstream regulator to carry out additional work following three safety incidents at the plant between September and January.
  • The regulator recently accepted Shell’s proposal to develop the 2.2T cf Crux gas field in the Browse basin offshore Western Australia, which is expected to provide backfill gas for Prelude.
  • In April, Shell delayed a final investment decision on Crux and other projects until next year because of weaker global LNG demand and lower oil prices.
  • 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.

    Libra Consortium takes final investment decision on Mero-3 FPSO in Brazil’s pre-salt

    Libra Consortium takes final investment decision on Mero-3 FPSO in Brazil’s pre-salt

    RIO DE JANEIROAug. 25, 2020 /PRNewswire/ — Shell announced today a final investment decision taken by the Libra Consortium, operated by Petrobras, to contract the Mero-3 floating production, storage and offloading (FPSO) vessel to be deployed at the Mero field within the offshore Santos Basin in Brazil.

    This is the third production system to be deployed in the Mero field, with final investment decisions to contract the Mero-1 and Mero-2 FPSOs already taken.  Each unit has a daily operational capacity rate of 180,000 barrels of oil equivalent, with production coming online over the next four years. The Pioneiro de Libra FPSO (50,000 barrels of oil equivalent/day) has been producing at Mero since 2017 and is a key source of information for the consortium to aid further development and productivity of the field, reservoir and wells. 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 to begin seismic work on North Sea gas discoveries next year

    Shell to begin seismic work on North Sea gas discoveries next year

    :

    It comes as the energy giant took over operatorship of the licences from Egdon Resources, farming in with 70% interest in both.

    Under the deal, Shell will pay 85% of the costs for acquiring and processing the 3D seismic survey, which needs to completed by May 31 2021 under the terms of the licenses.

    Shell will meet these costs up to $5million, at which point Egdon will be responsible for 30% of survey. 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.

    INSIGHT- In the run-up to U.S. election, drilling lobby promotes natural gas as ‘clean’

    INSIGHT- In the run-up to U.S. election, drilling lobby promotes natural gas as “clean”

    By Valerie Volcovici, Andrew R.C. Marshall and Matthew Green: AUGUST 18, 2020

    WASHINGTON/LONDON, Aug 18 (Reuters) – America’s biggest oil and gas lobby group is ramping up its advertising spending ahead of the November election to persuade voters that natural gas is a climate-friendly fuel, according to ad buying data.

    The campaign by the American Petroleum Institute (API), targeted at younger voters and some tight congressional races, is part of a global battle by the drilling industry to assuage growing fears over the role of natural gas in driving climate change. 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.

    LNG revenues smashed on price slump

    LNG revenues smashed on price slump

    Angela Macdonald-Smith, Senior resources writer:12 Aug 2020

    Australia’s revenues from LNG exports slumped a massive 52 per cent in July compared with a year earlier as export prices followed crude oil prices into the basement, cementing prospects for a big dip in export earnings from the commodity this financial year.

    LNG export revenues for the country were likely about $1.98 billion last month, sinking from north of $4 billion a year earlier, according to an analysis released on Wednesday by consultancy EnergyQuest. 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.

    Big Oil’s Most Profitable Business Is No Longer Oil

    Big Oil’s Most Profitable Business Is No Longer Oil

    It’s been a rough year for oil, to say that least. And the worst isn’t over yet. Even though oil demand, and therefore oil prices, have been slowly recovering, that upward trajectory is now running out of steam and we’re headed toward a slump amidst what will almost certainly be a yearslong recession in the wake of the economic fallout from the devastating spread of the novel coronavirus. 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 to change-up FIFO roster at Australian operations

    Shell to change-up FIFO roster at Australian operations

    Paul Hunt: Senior Journalist: Oil & Gas, Policy. 07 August 2020

    SHELL is urging its staff to move to a new fly-in, fly-out, roster, a move that has been described by unions as “unsafe.”

    Currently FIFO staff work three weeks on, four weeks off, then three weeks on and five weeks off but under the new proposed agreement, employees would simply do a four week on, four week off roster.

    In a power-point presentation leaked to Energy News this week, Shell Australia said a new roster was needed due to interstate travel restrictions, and the combined impact of a 14-day quarantine requirement for FIFO staff. 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 gets green light for huge Crux backfill project

    Shell gets green light for huge Crux backfill project

    SHELL Australia has been granted approval by the national oil and gas regulator for development of its massive Crux field offshore Western Australia, though the company earlier flagged a delay to the development thanks to pandemic and oil price concerns.

    Paul Hunt: Senior Journalist: Oil & Gas, Policy. 05 August 2020

    The 2 trillion cubic feet Crux gas field project will be the source of backfill for the Prelude floating LNG vessel, which has not sent a cargo since February.

    The development will consist of five subsea production wells tapping into the northern Browse Basin, which will then be tied back to an unmanned platform. 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 Signs Charter Contracts for Six Newbuild LNG Carriers

    Shell Signs Charter Contracts for Six Newbuild LNG Carriers

    BY THE MARITIME EXECUTIVE 08-03-2020 04:29:49

    Shell Tankers (Singapore) Private Limited (“Shell”) has agreed long-term charter contracts for six newbuild liquefied natural gas (LNG) carriers.

    Shell has signed separate agreements for two LNG ships each with affiliates of Knutsen LNG, Korea Line Corporation, and ICBC Financial Leasing and institutional investors advised by J.P. Morgan Asset Management.

    The state-of-the-art 174,000 cbm LNG ships will be built by Hyundai Heavy Industries and Hyundai Samho Heavy Industries. They will all be equipped with efficient dual-fuel X-DF engines, boil-off management plants, air lubrication systems and shaft generators for auxiliary power. The design and addition of energy efficiency technologies will give these ships the best emissions performance in their class. 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 avoids loss with strong trading, wipes $17 billion off assets

    Shell avoids loss with strong trading, wipes $17 billion off assets

    Ron BoussoShadia Nasralla: JULY 30, 2020

    LONDON (Reuters) – Royal Dutch Shell (RDSa.L) avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a pessimistic outlook for oil and gas prices.

    Shell had warned last month it was set to slash the value of its oil and gas assets by up to $22 billion as the coronavirus crisis hollowed out energy demand.

    “Shell has delivered resilient cash flow in a remarkably challenging environment,” CEO Ben van Beurden said in a statement 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.

    Energy majors ‘spend 90%’ on fossil fuels despite climate pledges

    Energy majors ‘spend 90%’ on fossil fuels despite climate pledges

    23/07/2020: Paris (AFP)

    Energy giants Shell and Total continue to invest 90 percent of their capital on planet-warming fossil fuels despite promises to slash their greenhouse gas emissions, according to an industry analysis seen exclusively by AFP.

    With combined emissions equivalent to that of Germany — the world’s fourth largest economy — both companies are likely to fall “well short” of their own sustainable investment targets, the Institute for Energy Economics and Financial Analysis (IEEFA) 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 eyes $2.2 billion divestment from giant Indonesia gas project

    Shell eyes $2.2 billion divestment from giant Indonesia gas project

    Shell is pushing ahead with plans to divest its share of the giant Abadi LNG project in the Masela Block offshore Indonesia. Its 35% stake is valued at $2.2 billion, data from Rystad Energy shows. But, despite the block’s close proximity to Asian demand markets, it will be tough to find buyers for one of the world’s largest undeveloped gas resources, potentially leaving the project in limbo.A spokesperson for Indonesian upstream regulator SKK Migas told local media on 6 July that the Anglo-Dutch supermajor had decided to exit the proposed project due to the low oil price environment and development delays caused by the COVID-19 pandemic.

    Similar rumours about Shell’s exit emerged in early 2019, but Inpex, the Japanese operator of the Masela Block, subsequently won approval for a new development plan, including additional fiscal incentives to enhance the project’s economics, Andrew Harwood, Asia Pacific research director at Wood Mackenzie, told Energy Voice.

    However, “there is more substance behind the news this time, with Shell’s recent decision to write-down the value of its upstream portfolio perhaps signaling a wider portfolio review,” added Harwood. 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.

    US sanctions trying to stop Nord Stream 2 are unacceptable – German Foreign Office

    1 JUL, 17:49

    US sanctions trying to stop Nord Stream 2 are unacceptable – German Foreign Office

    Minister of State at the Federal Foreign Office Niels Annen pointed out that, in addition to German, French, Dutch, and Austrian companies, as well as services, in particular, certification and supervision, may be at risk of restrictive measures

    BERLIN, July 1. /TASS/. Possible new US sanctions against Nord Stream 2 are aimed at halting the project’s implementation, which complies with EU legislation, and therefore unacceptable, Minister of State at the Federal Foreign Office Niels Annen said on Wednesday.

    “It would block a commercial project, which is being implemented on the basis of EU law,” he said. “The position of the German government on this issue is unequivocal: extraterritorial sanctions are a blatant interference with EU sovereignty. It is obvious that the US side is trying to unilaterally stop the project,” Annen said. He pointed out that, in addition to German, French, Dutch, and Austrian companies, as well as services, in particular, certification and supervision, may be at risk of restrictive measures. 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.

    Coronavirus Takes a Toll on Shell Imposing $15-$22B Write-Offs

    Coronavirus Takes a Toll on Shell Imposing $15-$22B Write-Offs

    Zacks Equity Research: Zacks Royal Dutch Shell RDS.A recently provided an update on second-quarter 2020 guidance, envisioning its post-tax impairment charges between $15 billion and $22 billion. This hefty write-down comes as the coronavirus and associated demand deceleration wipe billions off the oil and natural gas asset value. Recently, Shell’s continental rival BP plc BP management confirmed that it anticipates taking impairments to the tune of $17.5 billion in the second quarter of 2020.

    What Does the Record Write-Down Imply?

    The energy industry, grappling with the twin demerits of oversupply and low pricing, expects the weak macro environment to persist. Companies like Shell and BP are carrying assets on their balance sheets that were purchased/developed at a time when commodity prices were materially higher than the current figures. As the market deteriorates, the operators are ultimately forced to take write-offs. 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.

    OPL 245: Fresh Charges Against Malabu Oil and Gas Limited

    EFCC drops Adoke from key OPL 245 case, files fresh charges against Malabu

    The Economic and Financial Crimes Commission (EFCC) has arraigned Malabu Oil and Gas Limited on fresh charges of money laundering in the OPL 245 deal of 2011.

    July 02, 2020

    Malabu, alongside Aliyu Abubakar, a businessman, and six other companies were arraigned on a 48-count charge before Iyang Ekwo, judge of a federal high court in Abuja.

    The companies listed in the charge are: A-Group Construction Company Limited, Rocky Top Resources Limited, Mega Tech Engineering Limited, Novel Properties and Development Company Limited, and Carlin International Nigeria Limited. 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 secures biogas supply as part low-carbon shift

    Shell secures biogas supply as part low-carbon shift

    JUNE 30, 2020 / 8:35 PM

    COPENHAGEN (Reuters) – Royal Dutch Shell said on Tuesday it has agreed to buy renewable gas, known as biomethane, from Denmark’s Nature Energy, in what the smaller company termed the largest deal of its kind.

    The gas will be supplied to Europe’s pipeline network from July 1. The size and financial details of the contract were not disclosed.

    In April, Shell laid out the oil and gas sector’s most extensive strategy yet to reduce greenhouse gas emissions to net zero by 2050. 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.

    Big Oil’s Nightmare Is Coming True

    By Nick Cunningham – Jun 30, 2020, 5:00 PM CDT

    Royal Dutch Shell said that it could cut the value of its oil and gas assets by as much as $22 billion, as it takes a dim view of the state of the oil market. The move adds more evidence to the notion that a huge slice of oil reserves will wind up as stranded assets.  Shell cut its Brent oil prices forecast from $60 per barrel to $35 for this year, and lowered its 2021 and 2022 forecasts to $40 and $50 per barrel, respectively, down from $60 previously. The lower outlook reflects the expected damage to the oil market due to the coronavirus and the negative impacts on the global economy, Shell 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.

    Big Oil’s Long Bet on Hydrogen Offers a Climate Lifeline

    Big Oil’s Long Bet on Hydrogen Offers a Climate Lifeline

    Bloomberg News: Will Mathis and Akshat Rathi: June 25, 2020 6:06 AM EDT: Last Updated June 25, 2020 8:48 AM EDT

    (Bloomberg) — On particularly cold winter days, the vast majority of the U.K.’s energy comes from burning natural gas. That arrangement will have to change radically–and soon–if the country is to hit its legally mandated target of net-zero emissions by 2050. As other countries adopt similar targets to align with the Paris climate agreement, they too will have to find an alternative to natural gas. That leaves fossil fuel companies with a ticking clock.

    Hydrogen burns cleanly, leaving only water behind. That’s made it an attractive alternative fuel source–not just for governments looking to satisfy climate mandates, but also for oil companies trying to ensure their continued relevance. Oil-and-gas majors such as Shell, Equinor, and BP have spent tens of millions of dollars on pilot projects. Now in the face of record-low oil prices, frozen international travel, and growing shareholder unease over greenhouse gas emissions, investing in hydrogen has taken on a new urgency. 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 Foresees LNG Market Rebounding From Coronavirus Lows

    Zacks Equity Research: Zacks

    Shell Foresees LNG Market Rebounding From Coronavirus Lows

    Shell & LNG

    Shell became the largest LNG producer in the world following the acquisition of BG Group Plc in 2016, which boosted its portfolio of supply contracts and stakes in LNG plants around the world. In fact, in the recently-released quarterly report, Shell’s earnings per ADS of 74 cents outperformed the Zacks Consensus Estimate of 51 cents on higher LNG sales volumes.

    Coronavirus Hurts LNG Volumes

    Over the past few months, the oil and gas industry has been in shambles, thanks to the coronavirus pandemic that shook most sectors until now. Global fuel demand is visibly dented in the aftermath of large-scale travel bans imposed globally. As a result, the outlook for all the industries in the energy sector business is downbeat. 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 boss ‘bothered’ by depiction of firm as ‘unwelcome player’ in energy transition

    Shell boss ‘bothered’ by depiction of firm as ‘unwelcome player’ in energy transition

    Royal Dutch Shell Plc had been turning out about 2.7 million barrels of oil each day until the novel coronavirus took hold of the world.

    By Bloomberg: 09/06/2020

    Demand for oil, the company’s core product, dropped almost a third in April, and the price of West Texas Intermediate briefly dipped into negative numbers for the first time.

    It’s not easy to run an oil major when people suddenly stop needing oil.

    Chief Executive Officer Ben van Beurden responded by slashing spending and cutting Shell’s dividend for the first time since World War II. 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 Energy debuts new ‘carbon neutral’ tariffs

    Nature based solutions: Shell Energy debuts new ‘carbon neutral’ tariffs

    Energy giant launches new carbon offset tariffs, as polling shows majority of public think lockdown has made them more aware of climate impacts

    James S Murray:

    Shell Energy Retail has this week launched two new ‘carbon neutral’ energy tariffs for British households, combining its existing 100 per cent renewable power offer with a promise to offset emissions from heating and cooking through investment in nature-based 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.

    Oil Firms Raise $171 Billion in Debt as Virus Hits Fuel Demand

    Bloomberg News: Jacqueline Poh: May 29, 2020: 10:51 AM EDT

    Bloomberg) — Oil and gas companies worldwide have raised $171 billion of debt from the loan and bond markets since March after the coronavirus pandemic hit demand for fuel.

    The $171 billion tally is equivalent to the volume of bonds sold for the industry in the whole year of 2019. The debt pile is set to grow further with almost $120 billion of borrowings due by the end of the year that will need to be either repaid or refinanced. Of that amount, $43 billion is in bonds and $76 billion in loans. 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, XOM to seek arbitration against Netherlands: report

    Shell, XOM to seek arbitration against Netherlands: report

    May 29, 2020

    Shell and ExxonMobil will file an arbitration claim against the Netherlands government over compensation for the early closure of gas field, according to Global Arbitration Review (GAR).

    The companies operate the Groningen gas field through NAM — a 50-50 Dutch joint venture. Production from the onshore gas field causes earthquakes affecting local communities, which has prompted the government to shut it down early.

    NAM is working with the Dutch government and other stakeholders to fulfill its obligations to residents of the area, which include compensation for damage caused by the earthquakes. 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 Offers Staff Voluntary Severance Pay

    Shell Offers Staff Voluntary Severance Pay

    As the price of a Brent barrel is trading at nearly half of what it was at the beginning of the year, Royal Dutch Shell Plc (NYSE: RDS.A) is planning on offering some staff voluntary severance, according to Bloomberg sources.

    In a note to its staff, Shell CEO Ben van Beurden said that the Dutch oil major was working to become leaner and more resilient, according to the Bloomberg sources who saw the correspondence. 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, Pieridae to try again after Alberta regulator blocks license transfers

    Shell, Pieridae to try again after Alberta regulator blocks license transfers

    May 15, 2020 4:58 PM ET|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

  • A controversial license transfer deal between Royal Dutch Shell (RDS.A, RDS.B) and Pieridae Energy (OTC:PTOAF) over aging assets in Alberta that failed to win approval from the province’s energy regulator say they will try again.
  • The regulator yesterday refused to allow licenses for sour gas wells, pipelines and other facilities to be transferred to Pieridae Energy from Shell Canada, saying the deal appeared to reduce Shell’s responsibility for cleaning up the sites, adding that the extent of contamination at the hundreds of facilities is unknown.
  • Shell says it will look for a way to transfer the licenses to Pieridae and keep the cleanup liabilities.
  • 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.

    Germany denies Nord Stream 2 pipeline waiver of EU rules

    The regulator said the Nord Stream 2 consortium – which also includes Uniper, Wintershall-Dea, Royal Dutch Shell, OMV and Engie – did not qualify for an exemption…

    Vera Eckert: MAY 15, 2020

    FRANKFURT (Reuters) – Germany’s energy regulator on Friday declined to grant a waiver of European Union gas directives to the operators of the Nord Stream 2 pipeline, dealing a fresh blow to the project to carry gas from Russia to Germany under the Baltic Sea.

    Nord Stream 2, designed by Russia’s Gazprom to increase direct shipments to Europe, is far behind schedule and has faced political opposition from Washington, as well as from Ukraine and Poland through whose territory Russian gas is shipped to consumers in western Europe. 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 poised for investment in Nigeria LNG venture

    Shell poised for investment in Nigeria LNG venture

    |About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

    Royal Dutch Shell (RDS.A, RDS.B) says all conditions have been met for the final investment decision on a new liquefied natural gas processing unit at Nigeria LNG, including a formal commitment from the groups expected to provide financing for the project.

    Nigeria LNG is a joint venture, with 49% owned by Nigerian National Petroleum, 26% by Shell, 15% by Total (NYSE:TOT) and 10% by Eni (NYSE:E).

    Once operational, the new unit Train 7 will add 8M metric tons/year of capacity to the Bonny Island facility, taking the total to ~30M mt/year. 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.

    Alberta Energy Regulator blocks sale of Shell assets over clean-up concerns

    Alberta Energy Regulator blocks sale of Shell assets over clean-up concerns

    The Canadian Press: May 14, 2020

    CALGARY — Alberta’s energy regulator has cited clean-up concerns in blocking the sale of sour gas wells, pipelines and other facilities from an energy giant to a much smaller company.

    In a decision released Thursday, the regulator said Calgary-based Pieridae Energy’s attempted purchase of the southern Alberta assets from Shell Canada goes against the intent of environmental laws.

    The issue was seen as a test case of the regulator’s determination to avoid clean-up costs for energy facilities falling to the taxpayer. 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.

    Sakhalin-2 LNG postpones part of maintenance to 2021 -source

    Sakhalin-2 LNG postpones part of maintenance to 2021 -source

    Russia’s Sakhalin-2 liquefied natural gas (LNG) plant will postpone some annual maintenance work to 2021 due to logistic difficulties over the spread of the coronavirus, a source familiar with the plans told Reuters on Tuesday.

    Russia’s second-largest LNG plant after Novatek-led Yamal LNG had initially planned to complete the work this summer.

    However, the source said the maintenance would be done gradually, at one of two lines and start in June. The first stage of the maintenance would last about a month, the source 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.

    Yes, oil is dead. Just read the writing on the wall.

    May 12th 2020

    It has been an interesting week. On the morning of May 6, I held a press conference in West Block before the weekly in-person session of Parliament opened. I spoke about how virtual Parliament is working, and Green recommendations to make it work better.

    When we got to questions, the first one was CBC’s Julie Van Dusen. She asked about a possible bailout to Big Oil. And I explained that the evidence was coming in thick and fast that oil’s day was done. And she zeroed in on: “Are you saying oil is dead?” 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.

    Oil Majors Take On More Debt To Fund Dividends

    By Nick Cunningham – May 04, 2020, 5:00 PM CDT

    Exxon posted its first quarterly loss in more than 30 years. But even as debt mounts and questions arise about peak oil demand, the oil supermajor nevertheless vowed to protect its dividend while also aiming to grow indefinitely into the future. Exxon lost $610 million in the first quarter, down from a profit of $2.4 billion a year earlier. Worse, the period only included a few weeks of oil prices at catastrophically low levels. As a result, the second quarter is bound to lead dramatically worse numbers. 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 Has A Dire Warning For Oil Markets

    By Alex Kimani – May 04, 2020, 3:00 PM CDT

    After months of a deep and harrowing slide, fuel demand across the world is finally starting to sputter back to life. Traffic data, pipeline flows, and sales at gas stations in the Texas City of San Antonio, Beijing, and Barcelona all suggest that the oil demand slump may have already bottomed out. But don’t rush to pop the champagne corks just yet.  Indications so far are that the road to full recovery is going to be harder than climbing out of a subterranean pit, with many oil traders predicting that it might be a year or more before demand returns to pre-crisis levels. 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.

    Bloomberg: The Next Chapter of the Oil Crisis: The Industry Shuts Down

    Bloomberg News: Javier Blas: April 26, 2020

    (Bloomberg) — Negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil. The next chapter in the oil crisis is now inevitable: great swathes of the petroleum industry are about to start shutting down.

    The economic impact of the coronavirus has ripped through the oil industry in dramatic phases. First it destroyed demand as lockdowns shut factories and kept drivers at home. Then storage started filling up and traders resorted to ocean-going tankers to store crude in the hope of better prices ahead. 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 Sets Bolder Emissions Goal Even as Virus Hits Oil

    Royal Dutch Shell Plc plans to eliminate all net emissions from its own operations and the bulk of greenhouse gases from fuel it sells to customers by 2050.

    The energy giant is following in the footsteps of its peers BP Plc and Repsol SA, which have already set similar targets. Shell’s move indicates that, despite the turmoil caused in the industry by the coronavirus, major oil and gas companies aren’t abandoning the transition to cleaner energy. 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.

    China’s GCL, Shell sign preliminary deal on LNG trading joint venture

    SINGAPORE, April 14 (Reuters) – GCL Oil& Natural Gas Co Ltd has entered a framework agreement with Royal Dutch Shell to explore setting up a joint venture based in eastern China to market and trade liquefied natural gas (LNG), the privately owned Chinese company said on Tuesday.

    The proposed JV would secure LNG supplies from Shell and market the fuel to a receiving terminal which GCL is planning in Jiangsu province, GCL said in a statement.

    A Shell spokeswoman confirmed 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.

    Shell offers LNG cargoes for five years from 2021 in unusual move: traders

    APRIL 13, 2020 / 7:53 AM /

    SINGAPORE (Reuters) – Shell has, in an unusual move, offered liquefied natural gas (LNG) cargoes for loading from 2021 onwards for a period of at least five years through a tender, three traders said on Monday.

    The firm has issued a five-year strip tender offering four cargoes a year from 2021 onwards with an option to extend for another five years, two of them said.

    The tender closes on May 18, they added.

    The cargoes are likely for loading from Australia, one of them 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 nets $110m North Sea tax refunds

    8 April 2020

    ROYAL Dutch Shell received around $110 million (£87m) more back from the UK Government in respect of its oil and gas exploration and production activity than it paid in taxes last year, the company has revealed.

    In a report on the payments it made to governments in 2019 the oil giant disclosed that it received tax rebates in respect of its UK North Sea business totalling $116 million. These dwarfed the $6.5m that the company paid in fees.

    The report highlights the value of the tax relief provided to firms in respect of the costs of decommissioning North Sea facilities. 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.

    Is Gazprom’s LNG Megaproject Doomed To Fail?

    Viktor Katona: Oilprice.com April 4, 2020

    The gas giant Gazprom is no longer in the spotlight after the US Treasury sanctioned Rosneft, the Russian national oil company, most probably triggering the collapse of the OPEC+ agreement and bringing about an unexpectedly low pricing environment for March 2020 within both the oil and gas segments. Having launched Power of Siberia to China, Gazprom is now intent on bringing Nord Stream-2 online before the end of the year, moving its own pipe-laying vessel from the Russian Far East to the Baltic region to deliver on all its major promises from the 2010s. Yet there is one project that has had significant problems starting up, combining in itself all the deficiencies of modern-day Russia. 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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