Head of US business says oil and gas output will act as ‘balance’ for deepwater projects

Anjli Raval in New Orleans

Growing oil and gas production from shale fields will act as a “balance” for deepwater projects, the new head of Royal Dutch Shell’s US business said, as the energy major strives for flexibility in the transition to cleaner fuels. Gretchen Watkins said drilling far beneath oceans in the US Gulf of Mexico, Brazil and Nigeria secured revenues for the longer-term, but tapping shale reserves in the US, Canada and Argentina enabled nimble decision-making. FULL FT ARTICLE read more

Katherine Blunt: Oct. 14, 2018

Shell’s petrochemicals unit recently installed a 285-foot cooling and condensation tower at its petrochemicals complex now under construction in Pennsylvania. Photo: Shell

Shell has completed a substantial step in the construction of its plastics production complex in Pennsylvania, a project expected to catalyze similar developments in the Northeast if the region continues to build the pipelines and storage needed to support a petrochemicals hub rivaling that along the U.S. Gulf Coast. read more

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

By Tsvetana Paraskova – Sep 26, 2018, 9:00 AM CDT

Brent Crude at $80 a barrel is not an “unreasonable” price of oil, and it will support investment in oil and gas infrastructure after the downturn, Shell’s chief executive Ben van Beurden told CNBC in an interview on Tuesday.

“We should be able to balance the market at that sort of oil price level, but of course bringing on new production is not a short-term event,” van Beurden said, noting that it takes years for the industry to bring new production online. read more

25 Sept 2018

• Royal Dutch Shell CEO Ben van Beurden says $80 oil is not “unreasonable” and will help fuel spending on oil and gas infrastructure after a period of underinvestment.
• The Trump administration’s steel quotas are beginning to impede some of Shell’s construction projects in the United States, van Beurden said.
• Shell has not yet canceled any construction due to the trade barriers, and it is driving down the cost of its offshore projects.

Tom DiChristopher | @tdichristopher

The Trump administration’s steel quotas present a challenge to building new oil and gas infrastructure in the United States, but rising crude prices help fuel investment, Royal Dutch Shell CEO Ben van Beurden tells CNBC.

International benchmark Brent crude hit a nearly four-year high above $81 a barrel on Monday as the market braces for U.S. sanctions on Iran that threaten to wipe about 1 million barrels a day off the market. Brent’s multiyear high came after OPEC, Russia and other oil producers declined to boost output to tackle rising prices. read more

By Kiel Porter and Kelly Gilblom: 20 September 2018, 21:38 BST

• Oil major seeks to sell its Caesar Tonga stake to Focus Oil
• Shell is nearing end of $30 billion divestment program

Royal Dutch Shell Plc, shedding assets to pay for its takeover of BG Group Plc, is in talks to sell its interest in a Gulf of Mexico oilfield to Focus Oil, according to people familiar with the matter.

The deal could value Shell’s stake in the Caesar Tonga field at about $1.3 billion, said the people, who asked to not be identified because the matter isn’t public. A deal hasn’t been completed and negotiations could still fall apart, they said. read more

Aug. 13, 2018 12:14 PM ET|By: Carl Surran, SA News Editor

By: Carl Surran, SA News Editor: 12 July 2018

Shell Subsidiary to Pay $3.8 Million for 2016 Gulf Spill

A subsidiary of Royal Dutch Shell has agreed to pay $3.8 million to the U.S. government to settle a lawsuit over a 2016 oil spill in the Gulf of Mexico.

NEW ORLEANS (AP) — A subsidiary of Royal Dutch Shell has agreed to pay $3.8 million to the U.S. government to settle a lawsuit over a 2016 oil spill in the Gulf of Mexico.

The May 11, 2016, spill of nearly 2,000 barrels (317974.6 liters) occurred about 97 miles (156 kilometers) off the Louisiana coast.

The New Orleans Advocate, citing court documents, reports that an investigation pointed to a leak in a piping system that is used to transport oil from a production well on the sea floor.

The settlement isn’t final. It must first be published in the Federal Register and have a 30-day public comment period before it can get final approval from a federal judge. read more

Shell To Hand Over $3.9M Over 2016 Gulf Oil Spill

By Michael Phillis

Law360 (July 5, 2018, 5:27 PM EDT) — Shell Offshore Inc. agreed to pay nearly $3.9 million in connection with a May 2016 spill of more than 80,000 gallons of oil in the Gulf of Mexico that occurred about 100 miles from the Louisiana coast, according to a consent decree filed Thursday in federal… SOURCE

Jun. 30, 2018 12:54 AM ET

Summary

• Renewal of assets with great focus on the future.
• Natural gas as energy source will continue to grow.
• Share buybacks and generous dividends.

Background

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has been actively focusing on what kind of business it wants to be involved in. Part of this activity is to change the composition of its assets. It has been selling plants and oil licenses, and invested where it wants to position the company.

Disposals have also been done to reduce the total debt level. Much of the debt came from the $35 billion acquisition of BG Group back in March of 2016.

Disposals

Early this year, Shell communicated that its plans were to leave oil and gas operations in as many as 10 countries and instead focus more heavily on gas-rich Australia and shale opportunities in the United States. read more

Jun. 5, 2018 1:09 AM ET

Summary

• Shell has made a huge bet on a deeply buried resource in the Gulf of Mexico.
• In this article we explain, why they continue to spend billions of dollars in Deepwater, when other companies have abandoned it.
• We also provide a range where we would consider adding to our Shell position.

FULL ARTICLE

Kaikias, an economically resilient, subsea development in the US Gulf of Mexico

HOUSTON, May 31, 2018 /PRNewswire/ — Shell Offshore, Inc. (Shell), a subsidiary of Royal Dutch Shell plc, announces today the early start of production – around one-year ahead of schedule – at the first phase of Kaikias, an economically resilient, subsea development in the US Gulf of Mexico with estimated peak production of 40,000 barrels of oil equivalent per day (boe/d).

Shell has reduced costs by around 30% at this deep-water project since taking the investment decision in early 2017, lowering the forward-looking, break-even price to less than $30 per barrel of oil. read more

Map showing the location of Shell’s Dover discovery and its proximity to Shell’s new Appomattox host in the U.S. Gulf of Mexico 

HOUSTON, May 24, 2018 /PRNewswire/ — Shell Offshore, Inc. (“Shell”) today announced a large, deep-water, exploration discovery in the Norphlet geologic play in the U.S. Gulf of Mexico with its Dover well (100% Shell). The Dover discovery is Shell’s sixth in the Norphlet and encountered more than 800 net feet of pay (244 meters). The discovery is located approximately 13 miles from the Appomattox host and is considered an attractive potential tieback. Shell’s Appomattox host has now arrived on location in the U.S. Gulf of Mexico and is expected to start production before the end of 2019. read more

Appomattox set sail from Ingleside, Texas, USA, to its final location in the Gulf of Mexico read more

Reuters Staff: May 10, 2018

(Reuters) – Royal Dutch Shell (RDSa.L) will sell its stake in Amberjack Pipeline Co to its master limited partnership Shell Midstream Partners LP (SHLX.N) for $1.22 billion, the U.S. pipeline operator said on Thursday.

Drop down deals – where a parent transfers assets to its master limited partnership (MLP) – are practiced widely by energy companies to boost the value of their midstream assets without losing ownership of critical infrastructure. read more

Workers at a project in Malaysia. Shell has operations in more than 70 countries: FLICKR

Emily Gosden: April 2018

Royal Dutch Shell reported its best quarterly profits in five years but disappointed investors yesterday by generating less cash than expected and failing to start promised share buybacks.

The Anglo-Dutch energy giant said that resurgent oil and gas prices helped deliver a 69 per cent surge in profits to $5.7 billion in the first quarter — the highest since the first quarter of 2013.

Underlying profits of $5.3 billion were fractionally ahead of market forecasts but cashflow was below expectations and Shell’s shares fell 0.73 per cent. read more

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

Nikkei staff writers: April 21, 2018 05:23 JST

TOKYO — An international consortium led by Royal Dutch Shell and includes China National Petroleum Corp., Korea Gas and Japanese trading house Mitsubishi Corp. is moving ahead on a long-stalled liquefied natural gas plant in Canada, as environmental concerns drive Asia toward cleaner energy sources.

Japanese plant engineering company JGC and American counterpart Fluor jointly won orders to design and build the project in the British Columbia community of Kitimat on Canada’s Pacific coast for an estimated $14 billion. read more

If that is the case, a Reuters analysis of the sale’s results shows reason to worry about demand in future offshore auctions.

The sale brought in $124.8 million, as just 1 percent of the 77 million acres (31.2 million hectares) offered found bidders. Reuters examined the acreage offered and leased, and nearly all the purchases show big drillers stuck closest to existing infrastructure, shunning the most far-flung areas.

While U.S. crude oil production reached a record last year at more than 10 million barrels a day, most new development is in onshore shale regions. The U.S. Interior Department has said it wants to open all U.S. coasts for drilling, including the Atlantic and Pacific. But the Gulf result indicates limited interest even in already-developed areas, never mind unexplored coasts. read more

By CLIFFORD KRAUSS: MARCH 21, 2018

HOUSTON — In a setback to Trump administration efforts to increase offshore oil production, the industry responded with only modest interest on Wednesday in a federal auction covering a record 77 million acres in the Gulf of Mexico.

Companies bid on only 1 percent of the acreage, and the winning bids yielded a mere $125 million for the government.

The results reflected broad uncertainty among oil executives that global oil prices can remain at current levels over $60 a barrel, as well as a general preference for drilling in onshore shale fields that require smaller investments and are less risky. read more

Summary

• Shell declared an income of $13.4 billion compared to $4.8 billion in 2016.
• Merger with BG was a game-changer for Shell.
• Shell has now positioned itself as an energy company that is ready to embrace new challenges.

Headquartered in the Hague, Netherlands, Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has established itself as one of the most prominent oil and gas companies in the world. Although the last few years have been tough for the energy giant, Royal Dutch Shell has now started making the right moves, which will reap benefits in near future.

In its recently published Annual report for 2017, Shell declared an income of $13.4 billion compared to $4.8 billion in 2016. Although it must be noted that high oil and natural gas prices contributed to this yearly gain, a year-on-year increase of 279% is commendable. read more

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

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

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

Royal Dutch Shell CEO Ben van Beurden speaks at the CERAWeek conference at the Hilton Americas, Wednesday, March 7, 2018, in Houston. Photo: Karen Warren, Houston Chronicle

Jordan Blum, Houston Chronicle: Updated 12:01 pm, Wednesday, March 7, 2018

Royal Dutch Shell Chief Executive Ben van Beurden said Wednesday that climate change is the biggest issue facing the energy sector, encouraging the European oil major to invest more in cleaner-burning gas and renewable energy.

Shell aims to cut its carbon footprint in half by 2050 while shifting its roughly 50-50 oil and gas balance to a portfolio that’s closer to 70 percent gas, van Beurden said at the CERAWeek by IHS Markit conference in Houston. Shell already is the world’s leader in liquefied natural gas.  read more

FILE PHOTO – 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. REUTERS/Bruno Kelly

Ron Bousso: 7 MARCH 2018

HOUSTON (Reuters) – A potential tariff on U.S. steel imports could affect Royal Dutch Shell’s (RDSa.L) plans to go ahead with a major oil field development in the Gulf of Mexico, a company executive said on Wednesday.

Wael Sawan, who heads Shell’s deepwater operations, said President Donald Trump’s intention to slap up to 25 percent tariffs on imported steel and aluminium could materially impact the value of the Vito development off the Louisiana coast, one of a handful of projects Shell is planning to greenlight this year. read more

Forecasters at Royal Dutch Shell, the Anglo-Dutch oil major, have predicted that global oil demand could peak within a decade as electric cars and other clean energy technologies gain larger market shares.

March 5, 2018 Updated: March 5, 2018 8:42pm

Houston’s energy industry, which drives the local economy, has much brighter days ahead as global oil demand climbs, shale production booms and U.S. crude grabs larger shares of global markets, according to forecasts, industry officials and analysts.

The United States is already pumping oil at record levels above 10 million barrels a day, surpassing Saudi Arabia, and may take over from Russia as the world’s production leader by the end of 2018. Over the next five years, daily U.S. production is expected to climb 3.5 million barrels, or 35 percent, to more than 13 million barrels, according to a forecast by the International Energy Agency, which monitors the global oil industry. read more

Shell’s oil and gas reserve life – the number of years it can sustain production at its current levels – has steadily declined in recent years despite the acquisition of BG Group

LONDON/HOUSTON (Reuters) – The gasps in the audience were clearly audible at the auction of Mexico’s oil blocks a month ago as Royal Dutch Shell’s hefty bids were announced one by one.

The Anglo-Dutch major knew something no one else did.

Six months earlier, its drilling rig had struck a giant oil reservoir, the Whale well, in the U.S. side of the Gulf of Mexico – just across the border from many of the Mexican blocks, which share a similar Paleogene-age geology.

Calculating that this significantly increased the chances of the Mexican blocks also containing treasure, Shell delayed the announcement of the discovery until the day of the auction, after bids had been submitted. read more

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

Source: Bureau of Safety and Environmental Enforcement

By Sara Sneath

NOLA.com | The Times-Picayune; 15 FEB 2018

For nearly 40 years, a 350-foot-tall metal frame in the Gulf of Mexico supported a platform that pumped oil and gas from the seafloor. The 3,000-ton structure was recently converted into an artificial reef off the coast of Louisiana, where it will serve as habitat for fish and other marine life.

Shell’s Cougar platform was installed in 1981 and produced about 31 million barrels of oil and gas over its lifetime, said Shell external relations advisor, Theodore Rolfvondenbaumen. The platform was recently decommissioned and the deck and topside were brought back to shore. The metal frame of the structure was donated to Louisiana’s Artificial Reef Program. read more

A pump jack in a Permian Basin oil field in West Texas. The area has been a focus of the shale drilling boom. Credit Spencer Platt/Getty Images North America

By CLIFFORD KRAUSS: JAN. 28, 2018

HOUSTON — A substantial rise in oil prices in recent months has led to a resurgence in American oil production, enabling the country to challenge the dominance of Saudi Arabia and dampen price pressures at the pump.

The success has come in the face of efforts by Saudi Arabia and its oil allies to undercut the shale drilling spree in the United States. Those strategies backfired and ultimately ended up benefiting the oil industry.

Overcoming three years of slumping prices proved the resiliency of the shale boom. Energy companies and their financial backers were able to weather market turmoil — and the maneuvers of the global oil cartel — by adjusting exploration and extraction techniques. read more

…these are also the same waters unsuccessfully explored by Royal Dutch Shell in 2015, after which the company halted Arctic operations for the foreseeable future.

Sam Ori , Contributor: JAN 8, 2018 @ 09:58 AM

Interior Secretary Ryan Zinke released the Trump Administration’s long-awaited offshore drilling proposal last week. Once enacted, the plan will replace the existing leasing schedule, which was designed by the previous administration and had been set to run through 2022. New administrations are free to scrap the hold-over plans of prior administrations, and anyone who followed the 2016 presidential campaign knew that President Trump had a dramatically different view of offshore energy development than his predecessor. read more

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

REUTERS STAFF: 18 DECEMBER 2017

HOUSTON (Reuters) – Three offshore oil workers filed a lawsuit against units of Royal Dutch Shell and Enbridge, seeking $1 million in damages for injuries they allegedly received during a Nov. 8 fire on a U.S. Gulf of Mexico production platform.

The suit, filed in Galveston County court in Texas on Dec. 5, claims safety lapses on Shell’s Enchilada platform caused severe injuries to the three. The complaint seeks more than $1 million in damages from Shell International Exploration and Production, Shell Offshore, and Garden Banks Gas Pipeline Co, a unit of Enbridge, which owns a gas pipeline connected to the platform. read more

Shell’s Enchilada platform, sitting atop Garden Banks Block 128 in the Gulf of Mexico off the Louisiana coast, caught fire early Wednesday (Nov. 8), injuring two workers. This map shows the location, outlined in yellow.

The lawsuit claims Shell and the pipeline operator were negligent or grossly negligent, failing to maintain a safe work environment…

Updated Dec 15, 9:54 PM; Posted Dec 15, 9:53 PM

By Jennifer Larino: [email protected] NOLA.com | The Times-Picayune

Three workers injured in a November fire on Shell’s Enchilada platform in the Gulf of Mexico are suing the oil and gas company in a Texas county court. The suit claims Shell, its Gulf of Mexico subsidiary and a pipeline operator “acted with flagrant and malicious disregard” for the health and safety of the workers leading up to the incident. read more

31 million barrels of oil later, new life for old rig

Royal Dutch Shell’s 36-year-old Cougar oil and gas platform. The bulk of the platform was converted into an artificial reef in November.

By Collin Eaton: December 15, 2017 Updated: December 16, 2017 12:17am

This location, however, will never produce oil. Instead, the 3,000-ton frame, from a retired platform operated by Royal Dutch Shell, will become home to barnacles, mussels, sponges and other aquatic invertebrates and a way station for migratory fish from red snapper to whale sharks seeking food and shelter. read more

Houston’s Shell Midstream Partners is going on a buying spree, acquiring $825 million worth of pipelines and terminals from its Royal Dutch Shell parent.

Written by Jordan Blum for the Houston Chronicle – 29/11/2017 12:53 pm

The deals designed to beef up the three-year-old Shell Midstream business give the Houston pipelines firm more ownership in Gulf Coast and Gulf of Mexico pipelines, as well as a slew of terminals from the Houston area to Washington state.

The drop-down acquisitions from the parent Shell and other Shell subsidiaries give Shell Midstream majority ownership of the Mars and Odyssey oil pipelines in the Gulf of Mexico. Shell Midstream already owned 49 percent stakes in the pipelines and the deal ups those stakes to at least 71 percent. read more

Bryan Sims: NOVEMBER 15, 2015

The figures include Shell’s Enchilada, Salsa and Augers platforms in the Gulf of Mexico, as well as Hess Corp’s (HES.N) Baldpate platform and Hess-operated Conger field, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE).

Shell holds a 37.5 percent share in the Conger field.

Hess temporarily abandoned production at its Baldpate, Conger and Penn State fields, according to the company, adding that production coming through its Garden Banks Gas Pipeline system will be closed until further notice. read more

The big picture: The giant of the Gulf

HALFWAY AROUND THE WORLD

In October, Ingleside, Texas, welcomed the hull of Shell’s Appomattox production platform, floating aboard a massive heavy-transport vessel, after its journey from halfway around the world. Construction of the host facility for Shell’s pioneering development will be completed in Ingleside after fabrication of the hull in South Korea. Shown here is the departure from South Korea.

BEHEMOTH ON THE SEA

A deepwater oil and gas development that will become Shell’s largest floating platform in the Gulf of Mexico, the sizeable host will tower 20 stories above the sea, float in 7,400 feet-deep waters (that’s five Empire State Buildings), span approximately three football fields across, and weigh more than the world’s largest naval aircraft carrier (125,000 metric tons). read more

Reuters Staff: NOVEMBER 14, 2017

LONDON (Reuters) – Royal Dutch Shell said on Tuesday that production at four oil platforms in the Gulf of Mexico has been shut in the wake of a Nov. 8 fire at its Enchilada platform.

“Production is shut in at the Shell-operated Enchilada and Salsa platforms, as well as the associated Hess-operated Conger field,” in which Shell has a 37.5 percent share, it said in a statement.

“In addition, Shell safely shut in all production operations at its Auger platform due to downstream constraints caused by this incident.” read more

Reuters Staff: NOVEMBER 13, 2017

(Reuters) – Royal Dutch Shell Plc said it was in the process of developing a plan for repairing the damaged parts at its Enchilada platform and re-deploying personnel following its shutdown after a fire last week.

“On Saturday November 11, an assessment team confirmed isolation of the platform from the 30-inch gas export pipeline and no presence of uncontained hydrocarbons,” a Shell spokesperson said.

The company has no timeline to resume normal operations at the platform, Shell added. read more

Reuters Staff November 13, 2017

(Reuters) – U.S. oil and gas producer Hess Corp said on Monday it had halted production at its Baldpate, Conger and Penn State fields due to a fire at Royal Dutch Shell’s Enchilada platform in the Gulf of Mexico.

Last week, Shell shut its Enchilada platform after a fire caused injuries to two people.

Production is also shut in at the Shell-operated Llano field, where Hess has a 50 percent stake, Hess said.

The fields produce about 30,000 barrels of oil equivalent per day. read more

Written by Alan Shields – 13/11/2017 6:00 am

Shell has stood down its emergency response activities over a fire on its Enchilada platform in the Gulf of Mexico.

On Saturday an assessment team confirmed the isolation of the platform from the 30-inch gas export pipeline which was thought to be at the centre of the blaze which broke out last week.

The team also found no presence of ‘uncontained’ hydrocarbons.

The supermajor is in the process of developing a plan for repairing the damaged portions of the asset and re-deploying personnel. read more

NEW YORK–(BUSINESS WIRE)–Hess Corporation (NYSE: HES) released a statement today about the impact on its operations resulting from a fire at the Shell Enchilada platform in the Gulf of Mexico. Shell advised in a statement on Nov. 12 that a plan for repairing the damaged portions of the asset is being developed. All production coming into the Garden Banks Gas Pipeline system also remains shut in until further notice.

Hess production is shut in at its Baldpate, Conger and Penn State Fields. Production is also shut in at the Shell-operated Llano Field (Hess 50 percent interest). Hess production at these fields is approximately 30 thousand barrels of oil equivalent per day. read more

By Trevor Sonnier: Published: November 10, 2017, 6:15 pm Updated: November 10, 2017, 6:20 pm

PORT OF IBERIA (KLFY) – Shell Oil is in the process of conducting one of its largest projects across the globe and a big part of that project was completed right here in Acadiana.

Dynamic Industries, a fabrication company operating in the Port of Iberia, has recently been building large modules for the past two years as part of a larger Shell Oil project.

“It’s part of Shell Oil’s Appomattox project, the largest project on earth for Shell Oil and it’s about a 17 billion dollar project,” says Craig Romero, Port Director. read more

Written by Reporter – 10/11/2017 9:09 am

Shell has no timeline for restarting normal operations on a platform which was shut down in the US Gulf of Mexico due to a fire, a news report said.

“Though the structure is visibly sound, crews will continue to determine the integrity of the platform and formulate a plan for damage repair,” the oil major told Reuters.

Shell added there was no oil in the water as a result of the incident.

The fire on the Enchilada facility involved a 30-inch gas export pipeline.

All 46 personnel working at the Enchilada facility were safely evacuated. Two Shell employees were injured. Both have been treated and released from the hospital. read more

By Adam Williams: 9 November 2017, 21:27 GMT: Updated on 10 November 2017, 05:01 GMT

As the price of oil rises, an international rush is on for Mexico’s untapped deep-water riches.

The who’s who of the oil world — led by Exxon Mobil Corp and Royal Dutch Shell Plc, the world’s two biggest drillers by market value — are lining up to bid in the country’s Jan. 31 deep-water auction. And the interest is international in scope, drawing Chevron Corp. from the U.S., the U.K.’s BP Plc, Norway’s Statoil ASA, France’s Total SA, Australia’s BHP Billiton Ltd, Russia’s Lukoil PJSC and China’s Cnooc Ltd, among others. read more

• Shell shuts Enchilada platform in Gulf of Mexico Wednesday
• U.S. drillers lift crude production to an all-time high: EIA

Crude went on a roller-coaster ride Wednesday as platform closures in the Gulf of Mexico led futures to spike, while the stubborn increase in U.S. supplies pulled prices back down.

Oil closed 0.7 percent lower in New York after alternating between gains and losses in the session. Multiple platforms in the Gulf of Mexico suspended operations after Royal Dutch Shell Plc shut its Enchilada-Salsa platform due to a fire. While the shutdowns caused shortages, the prevailing mood was set by a government report showing crude stockpiles unexpectedly rose last week, overseas demand shrank and U.S. output hit a record-high. read more

By Carlie Kollath Wells: [email protected]: NOLA.com | The Times-Picayune: 8 November 2017

Two people were injured Wednesday morning (Nov. 8) in a fire on a Shell oil platform in the Gulf of Mexico, the company said. The remaining 46 workers were safely evacuated.

A Shell spokesman said the fire happened at 1:30 a.m. Wednesday on its Enchilada platform at Garden Banks 128. Shell said it had identified the source of the fire and was “actively responding to the situation.” read more

Sarfaraz A. Khan: 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

Letter from Ayoka Lawani published by The Nation on 6 Nov 2017

SIR: Recently Queen Maxima of the Netherlands visited Nigeria. While there, according to reports, she spoke vigorously about the merits of mobile money. What she came to do on behalf of the UN is not the topic here.

It is who she is that should be the business of all Nigerians. She is married to King Wilhem Alexander of the Netherlands whose mother, former Queen Beartrix  ( who abdicated for Alexander in 2013) is the single largest shareholder of the Shell Company. This makes Queen Maxima a major owner of Shell. read more