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Shell signs up Bureau Veritas for emissions fight

Shell signs up Bureau Veritas for emissions fight

Bureau Veritas has signed a global framework agreement with Shell to help reduce emissions from operations.

Shell has set a target of maintaining methane emissions intensity below 0.2% by 2025.

Bureau Veritas has said it will help Shell detect leaks across its assets. The Leak Detection and Repair (LDAR) process will allow Shell to monitor, quantify and control emissions in order to minimise its carbon footprint. 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.

Pandemic exposes cracks in oil majors’ bet on plastic

A massive Pennsylvania plastics project, owned by Shell, that President Donald Trump touted during a visit last year faces risks of oversupply and a low price outlook, an energy industry report said on Thursday.

Pandemic exposes cracks in oil majors’ bet on plastic

Joe Brock: JUNE 4, 2020

SINGAPORE (Reuters) – The energy industry’s bet that a petrochemicals boom would support decades of oil and gas sales growth is on shaky ground as an already saturated plastic market is hit by a coronavirus demand shock.

While soaring demand for personal protective equipment and takeaway food containers has boosted sales of some plastics, it is likely to be only a temporary spike, say analysts. 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.

Why I cut ‘severe’ dividend slasher Shell

Merchants (MRCH) fund manager Simon Gergel has cut the investment trust’s stake in Shell (RDSB) by a third in response to the oil company’s historic move to slash its dividend last month.

The Anglo-Dutch company cut its quarterly dividend by two thirds from 47 to 16 US cents at the end of April, as the coronavirus crisis precipitated the first such move since the second world war.

Shell’s decision shocked income fund managers two days after rival BP (BP) had chosen to maintain its own dividend. However, Gergel reiterated his view that the company’s changing plans were as much of a challenge to the investment case as the loss of income. 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.

OPL 245: How Italian Prosecutors Hid Vital Information from Judge

OPL 245: How Italian Prosecutors Hid Vital Information from Judge

By Davidson Iriekpen:

Facts have emerged that the lead Italian prosecutor in the criminal case involving Shell and ENI over the OPL 245 affair, Dr. Fabio De Pasquale, concealed a significant material fact from the Milanese court concerning the former Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Mohammed Bello Adoke, THISDAY has learnt.

In the transcripts of the hearing with Criminal Proceeding No. 54772/13 RGNR, the prosecution witness, Ferri Alessandro, had told the court that Adoke owned the property at No. 271, Cadastral Zone A06 Maitama, Abuja, for which he had collected a mortgage of N300 million from Unity Bank in 2011. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Malabu Oil Block: ex-minister Orubebe’s wife quizzed over N360m deals

Malabu Oil Block: ex-minister Orubebe’s wife quizzed over N360m deals

MAY 15, 2020

From Yusuf Alli, Abuja

Former Niger Delta Affairs Minister Godsday Orubebe’s wife Maureen, has been grilled by the Economic and Financial Crimes Commission (EFCC) over a N500 million deal linked to the $1.092 billion Malabu Oil Block scandal.

Mrs. Orubebe is also being investigated for alleged money laundering.

She was alleged to have bought three assets from the company of one of the suspects on trial over the Malabu Oil Block Settlement Agreement.

The assets were alleged to be part of those which over $523 million (out of $1.06b) was used for. 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.

Big Oil Earnings Battered By Virus, But Worst is Yet to Come

Big Oil Earnings Battered By Virus, But Worst is Yet to Come

Laura Hurst: May 11 2020, 4:31 AM

EXTRACTS

(Bloomberg) — Big Oil emerged from first-quarter earnings battered and bruised, but things are only going to get uglier.

Major oil and gas producers from Norway to the U.S. saw profit plunge in the opening three months of the year. Exxon Mobil Corp. reported its first loss in over 30 years, Royal Dutch Shell Plc cut its dividend for the first time since the Second World War.

Big Oil’s generous dividends have long been its main attraction to investors. But thanks to Shell Chief Executive Officer Ben van Beurden they are no longer sacrosanct, after he slashed his company’s payout by two thirds. 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.

Transition to low-carbon energy may accelerate after crisis – Shell

Shadia Nasralla, Ron Bousso: APRIL 30, 2020

LONDON, April 30 (Reuters) – The ongoing transition to low-carbon energy sources may accelerate as economies recover from the impact of the coronavirus crisis, the head of oil and gas company Royal Dutch Shell said on Thursday.

Chief Executive Ben van Beurden said while Shell was not ringfencing its low-carbon Integrated Gas and New Energies division from spending cuts to weather the crisis, those businesses would be shielded from the worst of the reductions.

“Where possible, we try to spare (New Energies) a little bit and that is basically because we still believe that there is an energy transition underway which may even pick up speed in the recovery phase of this crisis and we want to be well positioned for it,” he said after Shell announced first-quarter results. 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 cuts dividend for first time since WW2

30 APRIL 2020

The energy giant also suspended the next tranche of its share buyback programme.

The move came as it announced a 46% fall in first-quarter net income to $2.9bn (£2.3bn).

Chief executive Ben van Beurden warned of “continued deterioration in the macroeconomic outlook”.

He said Shell was taking “further prudent steps to bolster our resilience” and “underpin the strength of our balance sheet”.

Global demand for oil has all but dried up as lockdowns across the world have kept people inside. 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.

SEC drops inquiry into Shell-Eni OPL 245 deal, companies say

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

  • Royal Dutch Shell (RDS.A +0.9%) and Eni (E -0.8%) say the U.S. Securities and Exchange Commission has dropped its inquiry into their 2011 acquisition of the OPL 245 oil block offshore Nigeria.
  • The two companies are still on trial in Italy over allegations they bought OPL 245 knowing most of the $1.3B price would go to agents and middlemen in bribes.
  • Separately, Eni says CEO Claudio Descalzi and all senior managers will defer the collection of half of their 2020 long-term incentive plans until 2021, part of the company’s measures to reduce investment and operating costs.
  • For Descalzi, the deferral is equivalent to €735K, 15% of his total remuneration or 46% of his fixed remuneration.
  • Also, an agreement between Eni, Spanish gas firm Naturgy Energy and the Egyptian government to resolve a series of disputes over a shuttered gas plant in northern Egypt reportedly has fallen through.
  • The deal had been due to end Naturgy’s business interests in Egypt and dissolve a joint venture between Naturgy and Eni, while Eni and some Egyptian firms would have increased their holdings in the Damietta plant.        SOURCE
  • 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’s carbon emissions drop in 2019 to four-year low

    Ron Bousso: APRIL 8, 2020

    LONDON (Reuters) – Royal Dutch Shell’s greenhouse gas emissions declined in 2019 to their lowest in four years, according to data provided by the energy company.

    At the same time, burning of unused natural gas in Shell’s upstream oil and gas operations, a process known as flaring, rose last year by 13.5%, the data showed.

    The increase in flaring was due mostly to an “unanticipated spike” in flaring during the start-up of the giant offshore Prelude liquefied natural gas plant in Australia, it 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.

    Shell’s 2019 Greenhouse Gas Emissions Fell Due to Asset Sales

    Bloomberg News: Laura Hurst: April 7, 2020(Bloomberg)

    — Royal Dutch Shell Plc’s greenhouse gas emissions edged lower last year due to asset sales, while the amount of natural gas burned off wastefully from its facilities — known as flaring — increased.

    Shell’s direct emissions fell to 70 million tons of carbon dioxide equivalent in 2019 from 71 million a year earlier, it said Tuesday in a report. That’s the lowest since 2016.

    “The main reasons for the decrease were divestments (for example, in Argentina, Canada, Iraq, Malaysia, Norway and the U.K.),” the report said. “These decreases were partly offset by the startup of the Prelude floating liquefied natural gas facility in Australia.” 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 Post Q1 Charges Up To $800 Mln; Sees Uncertainty Due To COVID-19

    : MAR 31, 2020

    (RTTNews) – Royal Dutch Shell plc (RDS-B, RDSB.L, RDSA.L, RDS-A) Tuesday said it expects to record post-tax impairment charges in the range of $400 million to $800 million for the first quarter, based on changes to oil price outlook for 2020.

    In its first-quarter trading update, the company said it expects Integrated Gas production to be between 920 and 970 thousand barrels of oil equivalent per day. LNG liquefaction volumes are expected to be between 8.8 and 9.2 million tonnes.

    In the Upstream, production for the quarter is expected to be between 2,650 and 2,720 thousand barrels of oil equivalent per day. 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.

    MPs’ pension fund still investing in oil companies despite climate emergency

    Shares in Shell and BP still part of the scheme

    Jon Stone Policy Correspondent @joncstone: 24 March 2020

    The parliamentary pension fund for MPs is still investing in fossil fuels despite parliament declaring a climate emergency, new figures show.

    The fund is still heavily invested in Shell (£8m) and BP (£4.4m) despite over 350 current and former MPs backing a campaign to set a good example by diverting cash elsewhere.

    MPs have however welcomed news in the fund’s latest filings that it is increasingly shifting its cash towards renewable energy – with five per cent of investments going to the green sector for the first time. 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 plans to save $10bn in face of oil price crash and coronavirus pandemic

    Oil giant Royal Dutch Shell (RDSB.L) has announced plans to cut costs, slash planned spending, and abandon a share buyback, as businesses look to hold on to cash in response to the ongoing Covid-19 pandemic.

    Shell said on Monday it would cut operating costs by up to $4bn over the next 12 months and reduce planned spending by $5bn in 2020. The company is also abandoning a planned $1bn share buyback.

    Ben van Beurden, chief executive of Royal Dutch Shell, said the cash conservation measures were driven by the Covid-19 pandemic, which has led to a slump in demand for oil as the global economy grinds to a halt, and the oil price war between Saudi Arabia and 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.

    Majors look to store jet fuel at sea as air travel is drastically curbed

    Ron Bousso, Stephanie Kelly, Laura Sanicola: MARCH 18, 2020 LONDON/NEW YORK (Reuters) – Major oil companies including BP and Shell are preparing to store jet fuel at sea as the coronavirus outbreak disrupts airline activity globally, while refiners are shifting to diesel because of the poor margins associated with jet fuel production.

    Jet fuel demand has cratered as airlines suspend flights due to the coronavirus, which has infected more than 204,000 people and killed 8,710, prompting travel restrictions from governments around the world, including the United States. Market participants and refiners have had to scramble to adjust to incredibly low prices.

    Gulf Coast jet cash prices were at 26.50 cents per gallon below futures, the lowest seasonally since at least 2011, the earliest data available, Refinitiv Eikon data showed.

    Robert Campbell, head of oil products at consultancy Energy Aspects, estimates that demand for jet is down more than 20 percent from normal levels of about 8 million barrels per day. 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 Is Literally Burning Cash In The Permian

    By Alex Kimani – Mar 15, 2020, 10:00 AM CDT

    Global oil giants are facing ever-increasing public pressure and higher levels of scrutiny over their responsibility to curb harmful greenhouse emissions. Yet, in the sprawling oilfields of Texas, New Mexico and North Dakota, an industry-old practice of burning off unwanted natural gas has refused to die.

    The burning off (flaring), as well as the intentional release (venting) of natural gas, is proving to be a black eye that Permian producers just can’t get rid of. 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 PUBLISHES ANNUAL REPORT AND ACCOUNTS

    12-Mar-2020

    Royal Dutch Shell plc published its Annual Report and Accounts for the year ended December 31, 2019. The 2019 Annual Report and Accounts can be downloaded from www.shell.com/annualreport.

    In compliance with 9.6.1 of the Listing Rules, on March 12, 2020, a copy of the 2019 Annual Report and Accounts was submitted to the National Storage Mechanism. This document will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.

    Printed copies of the 2019 Annual Report and Accounts will be available from April 16, 2020, and can be requested, free of charge, at www.shell.com/annualreport. 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 tankers for oil floating storage after price collapse

    Jonathan Saul, Ron Bousso: MARCH 11, 2020 LONDON (Reuters) – Royal Dutch Shell is in talks to charter at least three supertankers to store crude oil at sea as traders brace for a sharp rise in global stocks after OPEC and its allies abandoned a production cut deal, shipping sources said on Wednesday.

    Shell has provisionally booked three 2 million barrel vessels, known as very large crude carriers (VLCCs), for storage options for at least three months, the sources said.

    A Shell spokeswoman declined to comment.

    Once the charters were fully negotiated, or fixed, they would be the first tankers to be used for floating storage after the recent fall in oil prices. [O/R]

    The shipping sources said at least one of the vessels had an option to store oil in the United States.

    Oil prices and the broader crude market pricing structure collapsed in recent days after OPEC and other major producing nations ended an output cut deal. 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.

    Nigeria: Court Garnishees First Bank Account With CBN Over Judgment Debt of N182.7 Billion

    The humongous amount represents the punitive measures slammed on Shell Petroleum Development Company (SPDC) Limited for devastating the community and its environs and ecosystem with oil spillage.

    By Akin Akinwale: 8 March 2020

    Justice Inyang Ekwo of the Federal High Court, Abuja, has made a garnishee order compelling the Central Bank of Nigeria (CBN) to pay the people of Ejama Community in Eleme Local Government Area of Rivers State a total sum of N182.7 billion. The amount is to be deducted from the account of First Bank of Nigeria Plc. in the custody of the CBN.

    Lawyers to Ejama community told THISDAY last night they have since served the CBN the garnishee order absolute.

    The humongous amount represents the punitive measures slammed on Shell Petroleum Development Company (SPDC) Limited for devastating the community and its environs and ecosystem with oil spillage. 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.

    Exxon, Shell Face Uphill Legal Battle Over Soured Nigerian Deal

    Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion dollar arbitration awards they secured against Nigeria’s state oil company.

    The companies accused the Nigerian National Petroleum Corp. of taking more crude than it was entitled to under four deals that were signed in 1993 to incentivise them to develop deep offshore blocks. Those projects today account for about 30% of the country’s 2 million barrels of daily output. 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 explore sale of two U.S. refineries

    Shell to explore sale of two U.S. refineries

    Mar. 6, 2020 6:30 PM ET|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

    Royal Dutch Shell (RDS.A, RDS.B) says it will seek to sell two U.S. refineries, in Alabama and Washington state, the latest step in the drive by European oil majors to reduce their refining footprints.

    The Mobile, Ala., facility has a crude capacity of 79K bbl/day and is oriented toward chemicals.

    A sale of the Puget Sound refinery in Anacortes, Wash., with a 145K bbl/day processing capacity, would limit Shell’s U.S. refining presence to the Gulf Coast, where its two main facilities are the Convent and Norco refineries in Louisiana. 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.

    Interview: Shell’s chief technology officer says energy transition must make ‘economic sense’

    Bringing about the energy transition needs to make “economic sense” and be socially and environmentally sustainable, according to Shell’s chief technology officer.

    Yuri Sebregts, the top scientist for the energy giant, said long-term solutions need to be “investible” and the move to a lower-carbon energy system “cannot happen based entirely on goodwill-funded developments”.

    The Shell boss, speaking to EV at the Baker Hughes conference in Florence last month, said Shell’s near-term goals are to invest $2-3 billion annually on development of low-carbon technologies which could make an 8-12% return on investment and later be scaled up. 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.

    Somalia agrees offshore oil exploration roadmap with Shell/Exxon: minister

    MARCH 2, 2020 / 5:02 PM

    CAPE TOWN (Reuters) – Somalia has agreed an initial roadmap with a Shell/Exxon joint venture to explore and develop potential offshore oil and gas reserves, the Ministry of Petroleum and Mineral Resources said on Monday.

    “I am delighted we have agreed an initial roadmap with the Shell/Exxon joint venture. This gives us confidence in (the)ability to further explore any offshore hydrocarbon potential,” minister Abdirashid Mohamed Ahmed said in a statement. 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.

    Trade Alert: The CEO & Director Of Royal Dutch Shell plc (AMS:RDSA), Ben Van Beurden, Has Just Spent US$217k Buying Shares

    Investors who take an interest in Royal Dutch Shell plc (AMS:RDSA) should definitely note that the CEO & Director, Ben Van Beurden, recently paid €22.74 per share to buy €217k worth of the stock. Although the purchase only increased their holding by 1.5%, it is still a solid purchase in our view.

    Check out our latest analysis for Royal Dutch Shell

    Royal Dutch Shell Insider Transactions Over The Last Year

    Notably, that recent purchase by Ben Van Beurden is the biggest insider purchase of Royal Dutch Shell shares that we’ve seen in the last year. So it’s clear an insider wanted to buy, even at a higher price than the current share price (being €20.48). Their view may have changed since then, but at least it shows they felt optimistic at the time. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher 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.

    Shell plans major drilling in Mexico, but oil may take years

    Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government.

    The global oil major plans to drill four wells this year, and a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign that will include 10 to 13 wells and cost from $800 million to $2.4 billion.

    Shell has a major position in Mexico’s deep-waters at a time when access is hard to come by. Mexico’s new government under Andres Manuel Lopez Obrador, also known as AMLO, has promised to reverse the neoliberal policies of his predecessor and has canceled further auctions and joint-venture opportunities with state owned Petroleos Mexicanos. read more

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    Big Oil Explores Adding More Cheap Ethanol to Gasoline in Iowa

    BP Plc and Royal Dutch Shell Plc are exploring adding more ethanol in gasoline in top corn state Iowa to take advantage of how cheap the biofuel has become.

    The oil majors are gauging driver interest at a small number of stations in 15% ethanol blends, up from the current state standard of 10%, after the Trump administration in May allowed an increase nationwide.

    Adding more ethanol to gasoline may help Midwest farmers who have been struggling to find markets for corn after biofuels demand plateaued last year. Ethanol futures slumped to the lowest in more than a decade in 2019, making it unprofitable to make the biofuel that accounts for about a third of demand for the U.S. corn crop. But cheap ethanol won’t save drivers much money: At current prices, filling up a Ford-F150 would only cost about a quarter less. read more

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    North Sea firms must dig deep to find diverse workforce, Shell top manager warns

    North Sea firms must dig deep to find diverse workforce, Shell top manager warns

    : 07/02/2020, 6:00 am

    North Sea firms must dig deeper into the talent pool to find “unicorns” within the workforce, a Shell plant boss warned yesterday.

    Teresa Waddington, natural gas liquids plant manager for Shell in Fife, said operators and contractors wanting to be diverse and inclusive should target people who might not ordinarily apply and were currently “invisible” to employers.

    She called on the north-east oil and gas sector to “redress the balance and really champion diversity”.

    She added: “As a manager I write a job description for a unicorn and then I pick from a stable of horses – that’s the reality of it.

    “A lot of people count themselves out when they don’t meet the unicorn job description in the first place. read more

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    Shell plans major Pernis oil refinery turnaround from early May

    FEBRUARY 6, 2020

    LONDON (Reuters) – Royal Dutch Shell said on Thursday it is planning a major maintenance turnaround at its Pernis oil refinery in the Netherlands starting on May 4.

    A video posted on the company’s Dutch website said the major maintenance will take place in May and June and involve cleaning towers and heat exchangers as well as replacing others.

    The major maintenance means Shell will not have to do another maintenance of the same scale for another 3 to 6 years at the refinery, which is Europe’s largest with a capacity to process 404,000 barrels per day of crude. read more

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    Oil and gas giant Shell restricts travel to Hubei Province on virus

    NEWS: FEBRUARY 5, 2020 / 4:57 PM /

    NEW YORK, Feb 5 (Reuters) – Royal Dutch Shell has banned business travel to and from China’s Hubei province due to the coronavirus, the company said in a statement.

    Shell has restricted non-essential business travel to mainland China, Hong Kong, Macau and Taiwan.

    (Reporting By Jessica Resnick-Ault)

    SOURCE

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    Shell boosts crude output in top U.S. shale field to 250,000 bpd

    FEBRUARY 5, 2020

    (Reuters) – Royal Dutch Shell, which plans billions of dollars in spending on shale drilling projects, boosted output in the top U.S. shale field to 250,000 barrels per day in December, the company’s Permian Basin head said on Wednesday.

    Shell plans to spend about $3 billion per year for the next five years on shale projects, said Amir Gerges, vice president of Permian assets for Shell, at the Argus Americas Crude Summit in Houston. Its Permian Basin production rose more than 100,000 barrels per day in the last year. read more

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    Oil and gas giant Shell restricts travel to Hubei Province on virus

    NEW YORK, Feb 5 (Reuters) – Royal Dutch Shell has banned business travel to and from China’s Hubei province due to the coronavirus, the company said in a statement.

    Shell has restricted non-essential business travel to mainland China, Hong Kong, Macau and Taiwan.

    (Reporting By Jessica Resnick-Ault)

    SOURCE

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    After 105 years, Martinez refinery no longer owned by Shell

    2 February 2020: Martinez Bay City News

    After 105 years of Shell ownership, the Martinez Refining Co., LLC is, as of Saturday, the new owner of the refinery on the Carquinez Strait just west of Interstate Highway 680.

    PBF Energy Inc., headquartered in New Jersey, will now operate the facility under the name Martinez Refining Co. LLC, and the $1 billion acquisition became official Saturday. The deal was struck in mid-2019.

    The Martinez refinery employs approximately 700 people. It produces gasoline, jet fuel, diesel fuel, petroleum coke, industrial fuel oils, liquefied petroleum gas, asphalt and sulfur. It also has a “coker” unit for processing heavy crude. read more

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    Equinor, Shell pay $177.5M each for stake in Argentina oil block

    Jan. 31, 2020 8:27 AM ET|About: Equinor ASA (EQNR)|By: , SA News Editor

    Equinor (NYSE:EQNR) and partner Royal Dutch Shell (RDS.A, RDS.B) say they have paid a combined $355M to jointly acquire Schlumberger’s (NYSE:SLB) 49% interest in Argentina’s onshore Bandurria Sur block.

    Each partner bought a 24.5% interest in the block that covers ~56K gross acres in the central area of the Vaca Muerta play.

    The two companies also reached a preliminary agreement with 51%-owner YPF to acquire an additional 11% interest, which would give Equinor and Shell each a 30% non-operated interest and YPF owning 40% interest and continuing as operator. read more

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    Shell boss highlights potential of North Sea and defends oil giant’s response to climate change

    ROYAL Dutch Shell boss Ben van Beurden has said he sees no reason for the oil giant to curb investment in the North Sea amid concern about climate change insisting it has a key role to play in tackling the problem.

    The Anglo-Dutch firm has come under attack from climate change campaigners who have disrupted operations off Scotland and blockaded the company’s North Sea headquarters in Aberdeen.

    However, Mr van Beurden said the transition to net zero carbon emissions could not be achieved without the expertise of oil and gas giants such as Shell.

    The company reckons it can support the development of clean energy systems while helping reduce emissions associated with the production and consumption of oil and gas that will be required to meet the needs of consumers and industry. read more

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    Shell finalizes sale of Martinez Refinery

    NEWS PROVIDED BY Shell : Feb 01, 2020, 03:17 ET

    HOUSTON, Feb. 1, 2020 /PRNewswire/ — Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell), a subsidiary of Royal Dutch Shell plc announced today that it has formally closed on the sale of Shell’s Martinez Refinery in California to PBF Holding Company LLC (PBF), a subsidiary of PBF Energy, Inc., in exchange for $1.2 billion which includes the refinery and inventory. The deal also includes crude oil supply and product offtake agreements, and other adjustments. read more

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

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

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

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

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

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    Shell Oil sued for fiduciary breaches

    ROBERT STEYER

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

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

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    Royal Dutch Shell Plc Director changes

    | Source: Royal Dutch Shell

    ROYAL DUTCH SHELL PLC

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

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

    DIRECTOR CHANGE

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

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

    JANUARY 29, 2020

    Yusuf Alli, Managing Editor, Abuja

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

    The others are Munamuna Seidougha and Amaran Joseph.

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

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

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

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

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

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

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

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

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

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

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

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    A firm believer in pushing Asian talent

    By: | January 20, 2020

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

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

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