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Shell approves second North Sea project this year

Jun 25th, 2018
by John Donovan.
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Jun. 25, 2018 11:14 AM ET|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) approves its second North Sea project in six months, moving forward with development of the Fram natural gas field it considered uneconomical to produce six years ago.

Shell, along with partner Exxon Mobil (XOM -1.7%), says it plans to produce as much as 13K boe/day from two wells in the Fram field by 2020, adding ~10% to the company’s current output in the U.K. North Sea.

Steve Phimister, head of Shell’s U.K. exploration and production unit, says deep cost cuts following crude’s decline and connecting smaller oil and gas pools to bigger projects are allowing it to squeeze more out of an aging North Sea, and that the company may take several more investment decisions in the North Sea this year because of the improved economics. read more

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Italy’s top court rejects appeal to stymie Shell, Eni corruption trial

Jun 13th, 2018
by John Donovan.
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REUTERS STAFF: JUNE 13, 2018 / 4:03 PM

ROME (Reuters) – Italy’s Supreme Court threw out an appeal from Shell and four former Shell managers to stymie a corruption trial that has also involved Eni’s chief executive, legal sources said on Wednesday.

The long-running graft case on alleged corruption in Nigeria, revolves around the 2011 purchase by Eni and Shell of Nigeria’s OPL-245 offshore oilfield for about $1.3 billion. The trial began last month, with the next hearing set for June 20. read more

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Italy’s top court tosses appeal in Shell, Eni corruption trial

Jun 13th, 2018
by John Donovan.
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|By: , SA News Editor

Italy’s Supreme Court rejects an appeal from Royal Dutch Shell (RDS.A, RDS.B) and four former Shell managers to reverse a trial on alleged corruption in Nigeria, which also has implicated Eni (NYSE:E) CEO Claudio Descalzi.

The appeal hoped to reverse the trial to the preliminary hearing stage due to what it said were procedural errors, but the court ruled that the appeal was inadmissible.

Nine current and former company executives or contractors, including Descalzi, are accused by Italian prosecutors of paying bribes to secure the license to explore Nigeria’s OPL-245 offshore oilfield, which holds ~9B barrels of oil but has never entered production. read more

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Dutch government proposes faster cuts in Groningen gas production

Jun 8th, 2018
by John Donovan.
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|By: , SA News Editor

  • The Netherland’s Groningen gas field will produce less than 12B cm/year by October 2020, the country’s economic affairs minister says.
  • The purchase of nitrogen to mixed with imported gas could lead to a reduction in gas extraction of 1B-1.5B cm, the minister says in a letter to the Dutch parliament, adding that Groningen gas production could drop by another 7B cm once the nitrogen plant in Zuiderbroek is operational.
  • In March, Prime Minister Rutte said the government aimed to end all production in Groningen by 2030 due to earthquakes.
  • Gas company NAM, which runs the Groningen field, is a joint venture of Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM).
    • read more

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    Shell Makes A Big Bet On Deepwater, The Norphlet

    Jun 5th, 2018
    by John Donovan.
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    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

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    WSJ: Pollution worsens around Shell oil spills in Nigeria

    May 26th, 2018
    by John Donovan.
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    |By: , SA News Editor

    A confidential study that Royal Dutch Shell (RDS.A, RDS.B) has been accused of trying to shield from public view showed worsening “catastrophic” pollution around oil spill sites in Nigeria, WSJ reports.

    At least one of the study’s authors has urged the findings to be widely distributed because they pointed to significant health risks to the local Bodo community in Nigeria but said that Shell had denied him permission to publish the study’s results in a scientific journal, according to the WSJ report. read more

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    Judge wants more info from big oil companies in climate change lawsuits

    May 26th, 2018
    by John Donovan.
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    May 25, 2018 12:42 PM ET|By: , SA News Editor

    A federal judge yesterday said he needed more information before deciding whether to dismiss lawsuits by the cities of San Francisco and Oakland alleging that Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Royal Dutch Shell (RDS.A, RDS.B), BP and ConocoPhillips (NYSE:COP) should pay to protect residents from the impacts of climate change.

    The judge also wants the companies to produce additional material backing up claims that they should not be a part of the case because the court lacked jurisdiction over them. read more

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    Shell Isn’t Worried About Peak Demand But Asset Managers Are

    Apr 30th, 2018
    by John Donovan.
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    : April 30, 2018

    Summary

    • Royal Dutch Shell’s latest Energy Transition Report contains a demand outlook for oil and gas that is quite conservative compared to its industry peers.
    • The company’s demand outlook is higher than what will likely be possible if the Paris Climate Agreement’s emissions targets are to be achieved, however.
    • Almost 90% of respondents in a recent survey of major asset managers believe that climate risks will have a “significant” impact on oil and gas company valuations in the near-term.

    The release of two separate reports in as many weeks on how integrated oil and gas producers will manage an anticipated transition toward low-carbon energy is likely to leave investors in Royal Dutch Shell (RDS.A)(RDS.B) with some questions. The company released its new Energy Transition Report earlier this month, and the final product presents its strategy for maintaining its operations even as the world’s major economies (with the exception of the U.S.) work to meet their greenhouse gas emission reduction targets under the Paris Climate Agreement. The report’s relatively phlegmatic conclusion stands in stark contrast to the results of an annual survey by the UK Sustainable Investment and Finance Association that identified strong concern from asset managers on the same count. read more

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    Shell’s Climate Liability Threat Goes Global

    Apr 17th, 2018
    by John Donovan.
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    : Apr. 16, 2018 12:44 PM ET

    Summary

    • A Netherlands environmental NGO has threatened to bring yet another climate change lawsuit against Royal Dutch Shell if it does not fundamentally change its business operations.
    • While multinational corporations are constantly being threatened with legal action, this specific one is unique.
    • It has the hallmarks of recent climate lawsuits against Shell in the U.S., but would be based in a court system that has mandated stricter climate policy before.

    Can non-shareholder private entities force oil and gas companies to accept lower returns on capital? Investors in Royal Dutch Shell (RDS.A) (RDS.B) will receive an answer to this question if an environmental NGO moves forward with a threatened lawsuit in the Netherlands that would require the company to do exactly that.

    Notably, Shell recently committed to reducing its greenhouse gas emissions by 50% through 2050 via billions of dollars of investments in renewable energy capacity. The NGO in question, Friends of the Earth Netherlands (aka Milieudefensie), deems this effort insufficient and insists that the company must abandon its oil and gas reserves and be “net zero” (i.e., no net emissions of greenhouse gases) by that date instead. While Shell’s investors largely shrugged off the threat (see figure), if they even noticed it at all, the development represents the opening of a new front in the lawsuits being waged by U.S. municipalities against the company and its Big Oil competitors. read more

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    Shell CEO asks investors to reject shareholder vote on emissions

    Apr 17th, 2018
    by John Donovan.
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    Apr. 16, 2018 11:41 AM ET|By: , SA News Editor

    Royal Dutch Shell (RDS.A, RDS.B) urges shareholders to oppose a resolutionfrom activist investors that would hold the company to firm targets for cutting carbon emissions, even as it reiterates its commitment to fighting climate change.

    Climate activist Follow This is offering a resolution for Shell’s May 22 annual general meeting urging the company to set more aggressive targets aligned with the Paris climate deal goal of limiting global warming to “well below” 2 degrees Celsius.

    “We will not be tied to an approach that potentially moves too quickly or too slowly to this transition,” says CEO Ben van Beurden. “If society finds a way to go faster, we will go faster… but we cannot do it single-handedly.” read more

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    Netherlands outlines plan to stop Groningen gas production by 2030

    Mar 29th, 2018
    by John Donovan.
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    |By: , SA News Editor

    The Dutch government says it will phase out gas production at the Groningen field by 2030 as part of efforts to reduce the danger caused by small but damaging earthquakes.

    Production is set for 21.6B cm this year, already down from a peak of 53.8B cm in 2013, and is planned to fall to below 20B cm for the production year beginning October 2018 and to below 17.5B cm for the 2019 year, assuming average temperatures, then to 12B cm in the coming 4-5 years and to zero at the end of the 2020s. read more

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    Shell outlines radical scenario for world that has cured climate change

    Mar 27th, 2018
    by John Donovan.
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    |By: , SA News Editor

  • Royal Dutch Shell (RDS.A, RDS.B) today outlined a scenario by 2070 that includes the use of far less oil as cars become electric, development of a major carbon storage industry and a transportation shift toward a reliance on hydrogen as an energy carrier.
  • Shell’s Sky scenario is designed to imagine a world that complies with the goals of the Paris climate agreement, managing to hold global warming to “well below” a rise of 2 degrees Celsius above pre-industrial levels; the world’s consumption of oil would rise through 2025 before starting to decline in the 2030s and fall below current levels in 2040.
  • The company stresses that Sky is only a scenario – a possible future dependent upon many assumptions – not a reality that definitely will be realized.
    • read more

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    FT: Shell likely to face activist challenge to shift away from fossil fuels

    Mar 26th, 2018
    by John Donovan.
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    |By: , SA News Editor

  • Royal Dutch Shell (RDS.A, RDS.B) likely will face a shareholder resolution calling at its May annual meeting for a radical shift away from fossil fuels, highlighting mounting pressure on big oil companies over global warming, Financial Times reports.
  • Shell has gone further than most peers by announcing last November a goal to reduce its carbon footprint by 50% by 2050, but climate activists are disputing its claim that its goal is in line with the Paris agreement.
  • “The ambitions announced by Shell are inconsistent with the Paris agreement, in particular when taking into account expected global energy demand growth,” according to Follow This, the shareholder group that has submitted a resolution calling for more aggressive targets.
  • Activists say Shell’s goal for a 50% reduction actually would be 25% in absolute terms if the company maintains its share of a global energy market that is forecast to grow by 50% by 2050.
    • read more

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    Royal Dutch Shell Is Making The Right Moves At The Right Time

    Mar 19th, 2018
    by John Donovan.
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    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

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    Selection of Shell related news stories 16 March 2018

    Mar 16th, 2018
    by John Donovan.
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    Shell to exit New Zealand after more than 100 years: Financial Times 16 March 2018
    Royal Dutch Shell is quitting New Zealand after more than 100 years: Verdict 16 March 2018
    Shell pares New Zealand portfolio with $578M asset sale: Seeking Alpha 15 March 2018
    Shell to sell remaining NZ assets to OMV for US$578 million: Scoop 16 March 2018
    Shell close to easing out Petronas to clinch Hong Kong’s LNG import deal:THEStarONLINE Friday 16March 2018
    Royal Dutch Shell boss handed €900,000 pay rise – to an annual package of around €9m: Independent.ie 15 March 2018
    Shell CEO’s pay in 2017 rises to 8.9 million euros: Reuters 15 March 2018

    Royal Dutch Shell boss handed near-£800,000 pay rise read more

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    WSJ: Shell in talks on $30B gas supply deal for its Egypt facility

    Mar 13th, 2018
    by John Donovan.
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    Mar. 13, 2018 5:54 PM ET|By: , SA News Editor

  • Royal Dutch Shell (RDS.A, RDS.B) is in talks over a 15-year deal worth up to $30B to buy natural gas from offshore Israeli and Cypriot fields, liquefy it in Egypt and then transport it to Europe and beyond, WSJ reports.
  • The potential deal is the latest evidence that the eastern Mediterranean Sea’s extensive reserves of natural gas may be nearing the reach of the world’s big oil companies; gas reserves in the waters off Israel, Cyprus and Egypt total an estimated 125T cf, according to energy consultant Wood Mackenzie.
  • U.S. diplomacy has worked for years to try to knit together the economies of once-hostile nations such as Israel, Egypt and Jordan, and developing the eastern Mediterranean as a natural gas hub to lessen Europe’s dependence on Russian energy; a breakthrough occurred last month when Noble Energy and its partners signed a $15B deal to supply gas from two Israeli gas fields to an Egyptian firm.
    • read more

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    BP, Shell execs report surprise production boost from mature wells

    Mar 10th, 2018
    by John Donovan.
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    |About: BP p.l.c. (BP)|By: , SA News Editor

  • BP CEO Bob Dudley has spent 38 years in the oil business, and he says has never seen anything like what happened with the company’s mature oil fields last year – their production increased.
  • Results across the industry were not as spectacular as BP’s but still impressive, executives and officials at the CERAWeek conference said this week; the International Energy Agency reported production from mature fields fell 5.7% last year, the smallest decline in at least a decade.
  • The findings are a surprise because the oil industry cut spending dramatically during the three-year downturn, but the need to stretch each dollar spent is exactly why major oil firms are getting more from those fields, says Wael Sawan, executive VP for deepwater at Royal Dutch Shell (RDS.A, RDS.B), which also reported improved results at its legacy wells.
  • “Companies are focusing on the basics, so there was a massive re-focus on existing wells,” Sawan tells Bloomberg. “It’s the cheapest and most profitable barrel that companies can access.”
    • read more

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    Shell’s Negative Outlook On Oil Yields Positive Strategy For Company

    Feb 28th, 2018
    by John Donovan.
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    : 28 FEB 2018

    Summary

    • Shell’s long term vision of oil prices is rather negative, leading to moves to cut reliance on high-cost projects.
    • Natural gas on the other hand is seen as a growth industry for the longer term, which is why it invests in upstream, as well as downstream & LNG.
    • While I think Shell’s views on oil prices going forward is overly negative, I do think that prices will be volatile, so it is the right strategy.

    Perhaps nothing highlights Shell’s (RDS.A) (NYSE:RDS.B) current leadership mindset more than its decision to sell its oil sands interests for net $7.25 billion last year. It is a mindset borne out of the belief at the top of this company’s leadership structure that there is a strong probability that oil prices will stay weak for perhaps decades to come, as demand destruction due to environmental concerns, as well as technological change will perhaps cause a peak in demand as soon as a decade from now. I personally do not share this view, yet as an investor in this company I am glad that it is making some of the structural changes that Shell is currently undertaking, because I do believe that it will transform it into one of the better energy companies out there. It will not only thrive during the good times, but it will also prove to be resilient during the bad. read more

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    Shell makes another bet on renewables, backs California-based Inspire

    Feb 14th, 2018
    by John Donovan.
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    |By: , SA News Editor read more

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    Shell settles clean air violations at Louisiana plant

    Feb 12th, 2018
    by John Donovan.
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    |By: , SA News Editor

    Royal Dutch Shell’s (RDS.A, RDS.B) Shell Chemical LP will install and operate a $10M pollution monitoring and control system at its Norco, La., chemical plant as part of a settlement over allegations it violated the Clean Air Act, the Department of Justice says.

    The pollution controls are estimated to reduce air emissions of volatile organic compounds by ~159 tons/year and cut other harmful air pollutants, including benzene, by 18 tons/year.

    Shell Chemical also will pay $350K in civil penalties as part of the consent decree. read more

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    Royal Dutch Shell: Q4 Earnings Results Show Reasons For Caution

    Feb 8th, 2018
    by John Donovan.
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    8 FEB 2018

    Summary

    Analysts and the financial media were very excited about Royal Dutch Shell’s Q4 2017 results, but there is a lot to be concerned about here.

    The company divested more than 250kboe/day in producing assets, which juiced its net income but hurt total production.

    The company’s three-year RRR is only 78% with an 8.9-year reserve life. This needs to be corrected quickly if the company is to survive.

    Royal Dutch Shell failed to generate sufficient cash to pay its shareholder distributions over the past few years but finally appears to have corrected this problem. read more

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    Royal Dutch Shell PLC Q4 2017 Earnings Conference Call February 1, 2018 9:00 AM ET

    Feb 2nd, 2018
    by John Donovan.
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    Royal Dutch Shell PLC (NYSE:RDS.A) Q4 2017 Earnings Conference Call February 1, 2018 9:00 AM ET

    Executives

    Ben van Beurden – CEO and Director

    Jessica Uhl – CFO and Executive Director

    Analysts

    Michele Vigna – Goldman Sachs Group

    Jason Gammel – Jefferies LLC

    Christyan Malek – JPMorgan Chase & Co.

    Theepan Jothilingam – Exane BNP Paribas

    Iain Reid – Macquarie Research

    Lydia Rainforth – Barclays PLC

    Oswald Clint – Sanford C. Bernstein & Co.

    Jason Kenney – Grupo Santander

    Thomas Adolff – Crédit Suisse AG

    Jonathon Rigby – UBS Investment Bank read more

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    The Royal Dutch Shell Of The 2020s – A Royally Good Investment

    Jan 24th, 2018
    by John Donovan.
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    : Jan 23, 2018

    Summary

    • Royal Dutch Shell took advantage of the market downturn to acquire BG Group. That let the company grow by 50%, something that has supported production significantly.
    • Royal Dutch Shell anticipates cash flow of $25-30 billion by 2020, and that could grow to almost $50 billion with recovering oil prices. That will result in significant reward to shareholders.
    • I think LNG will be an especially rewarding opportunity for Royal Dutch Shell going forward. That could help the company’s cash flow to grow even further.

    Royal Dutch Shell (NYSE:RDS.A) (NYSE: RDS.B) has been on a tear recently, growing to a $300 billion oil giant, making it the second-largest publicly traded oil company in the world. Yet the company isn’t done. A combination of the company’s integration of its more than $50 billion acquisition of BG Group, at an opportune time, combined with the company’s strong portfolio and its growth potential makes the company a royally good investment.

    BG Group Combination

    The company’s acquisition of BG Group, at a time when the oil markets were dropping, was viewed with various opinions. Many wanted the company to not issue shares when prices were low and preserve cash. However, the company paying for roughly 40% of the acquisition with cash minimized the dilution to shareholders. And it enabled the company to gain access to strong assets at a great time. read more

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    Shell signs five-year supply deal with U.K.’s second largest solar plant

    Jan 19th, 2018
    by John Donovan.
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    |By: , SA News Editor

  • Royal Dutch Shell (RDS.A, RDS.B) signs a five-year agreement with British Solar Renewables for power generated by the U.K.’s second largest solar power plant.
  • Shell will receive the whole output of the Bradenstoke plant, which has a peak capacity of 69.8 MW and produces an average of 65 GWh/year; financial details are not provided.
  • Shell says the deal fits firmly into its New Energy Business strategy, which focuses on power and new fuels.
  • It is Shell’s second solar deal of the week, after announcing plans to buy a 43.8% stake in U.S.-based Silicon Ranch Corp.
  • SOURCE
    • read more

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    Further production cut eyed for Groningen after tremor

    Jan 10th, 2018
    by John Donovan.
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    |By: , SA News Editor

    Dutch gas company NAM says it will propose reducing production at the Groningen gas field following an earthquake on Monday that was the largest in recent years.

    NAM, a Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) joint venture that operates the Groningen field, says it will propose a shutdown of some production clusters, leading to a lower production volume overall.

    The Dutch government has cut gas production several times in recent years from 39.4B cm in 2015-16, as decades of gas extraction have led to dozens of earthquakes every year in the Groningen region; the new government already agreed to cut output to ~20B cm by 2021 from a current 21.6B cm. read more

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    Production Halted At 2 North Sea Platforms After Main Pipeline Shutdown

    Dec 18th, 2017
    by John Donovan.
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    Fun Trading: 18 Dec 2017

    Summary

    • Shell announced that production from the Shearwater and Nelson platforms in the central North Sea had been suspended due to Forties pipeline shutdown.
    • Forties pipeline is a vital artery of the North Sea production. Production loss is estimated at about 400K Boep/d which is significant and may boost oil prices for weeks.
    • This situation could be considered as a net positive for Shell and other oil majors.

    Investment Thesis:

    Royal Dutch Shell (RDS.A) (RDS.B), BP P.l.c (BP), and Exxon Mobil (XOM) are the most reliable long-term oil companies and should be part of your main oil portfolio. However, this special status comes with the shareholders’ obligation to follow tightly what is going on with the company on the day-to-day news which may eventually change the future outlook — in this case with a potential production cut. This is exactly what I intend to discuss today. read more

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    Shell’s Energy Transition Speeds Up

    Dec 18th, 2017
    by John Donovan.
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    : 18 Dec 2017

    Summary

    • Royal Dutch Shell doubled down on its previously-announced investments in clean energy earlier this month when its CEO told investors that it has raised this to $2 billion next year.
    • The company also announced its intention to reduced its greenhouse gas emissions by 50% through 2050.
    • While the success of Shell’s proposed energy transition remains uncertain, its plans reflect recent developments in the energy markets and multinational policymaking.

    Last July the multinational petroleum and gas giant Royal Dutch Shell (RDS.A)(RDS.B) announced its intention to spend $1 billion a year on clean energy investments through its New Energy division. As I highlighted the following month, this decision was set against a busy backdrop of involvement by the company in the Climate Leadership Council, which (unsuccessfully) urged the Trump administration to keep the U.S. in the Paris Climate Accord, and investments in renewable electricity capacity. Those maneuvers, it turns out, were just the opening moves. As reported by The New York Times last week, Shell’s transition from a fossil fuel producer to a broader energy provider is rapidly accelerating. read more

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    Royal Dutch Shell’s Deepwater Strength

    Nov 30th, 2017
    by John Donovan.
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    Dividend Stream: Nov. 30, 2017

    Summary

    • Royal Dutch Shell held its annual analyst day earlier this week.
    • Management expects to generate at least $25 billion in excess cash flow by 2019.
    • Despite rising share prices, Shell can still be picked up here.
    • This idea was discussed in more depth with members of my private investing community, Streaming Income.

    The recovery in oil and gas is in full swing. While benchmark crude oil prices have gone up across the board, Brent is now $63 per barrel, the catalyst for this recovery comes more in the fact that oil producers have done such a good job in bringing costs down.

    Nowhere is that more starkly noticeable than in offshore, deepwater drilling, where dayrates for state-of-the-art rigs have gone from as high as $700,000 three years ago to just $250,000 or so. As onshore rig counts creep higher, cost inflation is once again becoming a fact of life in select onshore shale plays. With deepwater drilling, however, there are still many rigs ‘stacked’ in harbors across the world just waiting to come out and get activated, thereby keeping development and operational costs down. read more

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    WSJ: Oil companies, automakers seek lifeline for internal combustion engine

    Nov 21st, 2017
    by John Donovan.
    1 comment

    Nov. 20, 2017 12:42 PM ET|By: , SA News Editor

    Exxon Mobil (NYSE:XOM), BP, Royal Dutch Shell (RDS.A, RDS.B) and other oil companies are spending millions of dollars per year working with automakers including Ford (NYSE:F) and Fiat Chrysler (NYSE:FCAU) to improve the internal combustion engine and help it compete with electric vehicles, WSJreports.

    The companies are hoping new, thinner lubricants will help squeeze even more efficiency out of traditional car engines, allowing them to comply with stricter environmental rules and remain relevant as new technologies such as zero-emission electric vehicles emerge. read more

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    Reuters: Two Alberta oil sands upgraders warning of volume cuts

    Nov 21st, 2017
    by John Donovan.
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    |By: , SA News Editor

    Two oil sands upgraders in Alberta – Royal Dutch Shell (RDS.A, RDS.B) and Suncor Energy’s (NYSE:SU) Syncrude – are warning customers about cuts to synthetic crude output in November because of upsets at the plants, Reuters reports.

    Shell Canada is telling customers that synthetic crude volumes from its 255K bbl/day Scotford upgrader may be lowered this month and possibly next month because of a valve leak, and the Syncrude oil sands project, which has capacity to produce nearly 350K bbl/day, also is telling customers it will cut synthetic crude volumes by ~5% in November, according to the report. read more

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    When Will Royal Dutch Shell Raise Its Dividend?

    Nov 17th, 2017
    by John Donovan.
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    Aristofanis Papadatos: Nov 16, 2017

    Summary

    • Royal Dutch Shell has not cut its dividend since World War II.
    • However, the company has paid the same dividend for 15 consecutive quarters.
    • Therefore, the big question is if and when its shareholders should expect the next dividend hike.

    Royal Dutch Shell (RDS.A) (NYSE:RDS.B) offers a generous dividend yield, which currently stands at 5.9%. Nevertheless, the oil major has paid the same dividend for 15 consecutive quarters. Therefore, as most of its shareholders are holding the stock for its dividend, it is only natural that they wonder if and when they should expect the next dividend hike.

    First of all, Shell has an enviable record in dividend payments to its shareholders. To be sure, the company has not cut its dividend since World War II. This achievement certainly confirms the exceptional business performance of the company. However, the company has markedly slowed its dividend growth rate during the last decade, as it has raised it by only 2.7% on average during this period. read more

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    Government’s Groningen gas production plan rejected by advisory council

    Nov 15th, 2017
    by John Donovan.
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    Nov. 15, 2017 7:55 AM ET|By: , SA News Editor The Netherlands’ top administrative court rejects the government’s plan to cap production at the Groningen gas field and orders a new decision on how much gas can be extracted from the field where drilling has triggered minor earthquakes. The government had proposed capping production at 21.6B cm/year over the next five years, down from 24B cm in the production year just ended and 39.4B cm in 2015-16; the court orders the government to review its decision within the next 12 months, but production may be maintained at 21.6B cm for the year through Oct. 1, 2018. NAM, the joint venture between Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) that operates the Groningen field, says it is studying the ruling.

    SOURCE

    RELATED

    DutchNews.nl: Gas group NAM says more serious earthquakes will hit Groningen: 1 October 2014

    EnergyVoice.com: Quakes force Dutch lawmakers to cut gas production: 11 March 2015

    Bloomberg: Dutch Quakes Toss Wrench Into Gears of Europe Gas Market: 10 March 2015

    Devastating report of a scary scenario: 07 March 2015

    Dutch government says sorry for quakes caused by Groningen gas field: 02 March 2015

    Reuters: Bells toll for Europe’s largest gas field: 02 March 2015

    Groningen Gas Field Shock: Risk of earthquakes at 4.6 on the Richter scale: 24 Feb 2015 read more

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    Shell Says Yes To Free Cash Flow, No To Debt

    Nov 15th, 2017
    by John Donovan.
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    Callum Turcan: Nov 15, 2017

    Summary

    • Royal Dutch Shell generates free cash flow in Q3.
    • Outlook for Q4, even in light of impending capex increase, looks bright due to Brent rallying.
    • Over $10 billion in net debt reduction since the end of Q3 2016.
    • Overview of Q3 results and what to expect going forward.

    Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) has come a long way since it bottomed out in early-2016. Its latest earnings report reinforced the notion that when Brent is trading in the $50s, Shell’s cash flow position becomes balanced. Cash flow neutrality is the key breakeven point for the industry in the current environment, as oil & gas giants need to show that they can cover capital expenditures and large dividends through organic means at realistic prices. Let’s check out how Royal Dutch Shell did in a low $50s Brent world, with an eye on organic cash inflows and outflows. read more

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    Shell’s LNG Strategy A Great Complement To Overall Operations

    Nov 13th, 2017
    by John Donovan.
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    Zoltan Ban: Nov 13, 2017

    Summary

    • LNG is set to see robust growth on the back of growing global dependence on natural gas. The LNG industry will provide more supply security, which will be increasingly desired.
    • Shell has become a global leader in LNG, after the BG merger.
    • The advantage of investing in Shell as a way to play the LNG growth story is the fact that its downstream segment will act as a hedge in bad times.

    Beyond the recent hype created by the Saudi events, there is a trend of steady and sustainable advance in the price of oil, which I believe is likely to continue for as long as the current global economic cycle that started with the 2009 economic recovery is going to persist. In fact, I believe that the trigger for the next economic downturn will be an oil price spike, perhaps very similar to what we saw in the 2007-2008 period. This is how I saw the situation play out back in late 2015, which is when I decided to buy Shell’s (RDS.A) (NYSE:RDS.B) stock, along with Chevron (CVX) and Suncor (SU). It is a long-term bet on a trend that I am certain will happen, although the timing of it was never something I was as certain of, which is why I opted to buy only solid names, with a diverse portfolio of projects. read more

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    Reuters: Shell to hand over Iraq’s Majnoon oilfield by next June

    Nov 8th, 2017
    by John Donovan.
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    Nov. 8, 2017 11:33 AM ET|By: , SA News Editor

    Royal Dutch Shell (RDS.A, RDS.B) has agreed to exit Iraq’s Majnoon oilfield and hand over its operation to a state-run company by the end of June 2018, Reuters reports, citing two Iraqi oil officials.

    The Iraqi officials reportedly said the deal was reached during a meeting between Shell and officials from state-run Basra Oil on Monday at the Majnoon oilfield, which currently produces ~235K bbl/day of oil.

    According to the report, Shell will focus its efforts on the development and growth of Iraq’s Basra Gas Co., which is a joint venture between Shell, Mitsubishi and others. read more

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    Shell Swallows BG Group Whole Hog, Rolls Up Cash Flow

    Nov 6th, 2017
    by John Donovan.
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    Ray Merola: Nov. 6, 2017

    Summary

    • Shell is enjoying a remarkably successful corporate resurgence.
    • Legacy BG Group opex and capex has been absorbed entirely without a loss of combined hydrocarbon volumes.
    • Cash is king.
    • Debt is trending down.  The dividend is well-covered.  Returns are solid, and improving.
    • I remain constructive on RDS stock.

    I’ve been pounding my fist on the table for Royal Dutch Shell (RDS.A) (RDS.B) for a couple of years now. It’s been that one, “fat pitch” worth waiting upon; these don’t come along very often. Since the end of 2015, ADR shares offered investors ~54% total return, or an 80% gain since the stock bottomed in January 2016.

    The 3Q report included the hallmarks of recent previous quarters: linked-quarter revenue growth, continued strong cash flow, improving return-on-capital, reduced gearing, steady production, and ample dividend coverage. Details are found here. read more

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    Royal Dutch Shell: The Cash Machine

    Nov 6th, 2017
    by John Donovan.
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     Nov. 6, 2017 12:35 PM ET

    Summary

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

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

    Latest Earnings

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

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

    Oct 28th, 2017
    by John Donovan.
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    Oct. 27, 2017 5:45 PM ET|About: BP p.l.c. (BP)|By: , SA News Editor

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

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    Why Shell Investors Shouldn’t Ignore The Ongoing Security Situation In Nigeria

    Oct 4th, 2017
    by John Donovan.
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     Oct. 4, 2017 5:28 AM ET

    Summary

    • Attacks on oil & gas infrastructure in Nigeria pose a serious risk to Royal Dutch Shell.
    • Looking at Shell’s footprint in the country.
    • How it has been impacted so far.

    Royal Dutch Shell plc (NYSE:RDS.A) (NYSE:RDS.B) is a big player in Nigeria, a country that has been dealing with increases in civil unrest and sporadic violence over the past few years, particularly from the Niger Delta Avengers group that wants a larger portion of the oil & gas tax revenue to go to the Niger Delta region. This is on top of Nigeria’s ongoing fight against the Boko Haram insurgency in the northern parts of the country. The ongoing security situation is a major risk for Shell’s Nigerian operations, especially as the Niger Delta Avengers have shown the ability to repeatedly target bottlenecks like pipelines and force a lot of output offline. Let’s dig in by first going over what’s at stake for Shell. read more

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    Shell’s Floating LNG Endeavor Is About To Begin

    Oct 2nd, 2017
    by John Donovan.
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     Oct. 2, 2017 5:45 AM ET

    Summary

    • Shell’s floating liquefied natural gas project, the Prelude FLNG venture, will come online within a year.
    • Cash flow generation expected to begin in 2018, two years later than initially planned.
    • Going over the details of Royal Dutch Shell’s Prelude FLNG development.

    Royal Dutch Shell plc (NYSE:RDS.A) (NYSE:RDS.B) is getting closer and closer to finally completing its Prelude FLNG project off the northwestern coast of Australia. FLNG stands for floating liquefied natural gas, a marine vessel that can commercialize gas finds that are too small to justify building a new onshore LNG facility to develop. Let’s dig in.

    FLNG overview

    The purpose of turning gaseous methane into liquid form is that LNG takes up 1/600th of the space as a liquid, making exports economically viable. By cooling the natural gas down to negative 260oF, Shell can economically supply gas to consumers all over the world. The real genius of FLNG vessels is the ability to fit a processing plant on a ship in a fraction of the space that conventional processing facilities take up, along with Shell’s Dual Mixed Refrigerant unit that can cool the gas down. read more

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    Shell plans $1B/year toward electric vehicle charging, energy management

    Sep 29th, 2017
    by John Donovan.
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    |By: , SA News Editor

  • Royal Dutch Shell (RDS.A, RDS.B) is working on developing new energy technologies such as smart electric vehicle charging and models to reduce customers’ energy use, says Mark Gainsborough, head of the company’s New Energies division.
  • Goldman Sachs has predicted that oil demand could peak as early as 2024 due to the rollout of electric vehicles and rising fuel prices, and Shell says it plans to invest up to $1B/year through the New Energies division by the end of the decade as it seeks to ramp up involvement in technologies that are changing the market.
  • Gainsborough says Shell already has started to provide fast-charging for electric vehicles at its gasoline stations and is working on developing “smart charging” to help even out demand on the electricity grid.
    • read more

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    Shell’s Little Talked About Permian Position

    Sep 27th, 2017
    by John Donovan.
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    : 27 Sept 2017

    Summary

    • Royal Dutch Shell bought into the Permian back in 2012.
    • An overview of its JV with Anadarko Petroleum Corporation.
    • Where its acreage is located.
    • Operatorship controversy and probable split from Anadarko.
    • What to expect going forward.

    Back in 2012, Royal Dutch Shell plc (NYSE:RDS.A) (NYSE:RDS.B) teamed up with Anadarko Petroleum Corporation (NYSE:APC) to develop the Permian Basin. Royal Dutch Shell plc purchased all of Chesapeake Energy Corporation’s (NYSE:CHK) 50% stake in the joint venture for just under $2 billion, a steal compared to where prices are today. Centered in the prolific Delaware Basin, this part of the Permian is home to some of the most economical unconventional horizons in the world, including the Leonard/Avalon, Bone Spring, and Wolfcamp plays. Let’s dig in. read more

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    Why $55 Brent Is Big News For Shell

    Sep 21st, 2017
    by John Donovan.
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    : Sept 21, 2017

    Summary

    • Checking out high-yielding Royal Dutch Shell plc.
    • Brent bouncing up to over $55/barrel is big news that I think has been under-reported in the financial media.
    • Overview of Shell’s finances and significance of higher Brent prices.

    In light of material increases in realized upstream prices and an improving downstream sector, Royal Dutch Shell plc’s (NYSE:RDS.A) (NYSE:RDS.B) financials have shown tremendous improvement this year. The worst of the downturn is behind the oil sector, but keep in mind crude prices remain range-bound. That being said, with Brent (global oil benchmark) back over $55/barrel (high end of the range), things are looking brighter and brighter for Royal Dutch Shell every day. Especially when it comes to fully covering Royal Dutch Shell plc Class A and Class B shares’ lofty 6+% yields. Let’s dig in. read more

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    New Gulf of Mexico fields bolster new and existing assets

    Sep 20th, 2017
    by John Donovan.
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    : Sep. 20, 2017 7:05 AM ET: EXTRACTS FROM THE ARTICLE: “Williams’ Long-Term Gulf Of Mexico Upside”

    Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) is developing the Appomattox and the Vicksburg fields with the first stage of development expected to recover 650 million barrels of oil equivalent. That includes 596 million barrels of crude and 396 billion cubic feet of natural gas, with a planned peak production rate of 175,000 BOE/d. Two tie-back opportunities, the Gettysburg and Rydberg fields, could be developed through future development schemes. read more

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    Shell Is Nothing Short Of Exemplary

    Sep 6th, 2017
    by John Donovan.
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    Earnings Forecast Focus: Sep. 5, 2017 6:49 PM ET

    Summary

    • Shell CEO Ben van Beurden’s “lower forever” quote was aimed at operating costs and overall company culture. It does not reflect the CEO’s oil price outlook.
    • The company’s operational excellence has been nothing short of exemplary.
    • Scrip dividend will be removed when gearing is down to 20% from the current 25%.
    • At the current rate, it should take no more than twelve months to reduce the gearing to 20%.
    • Obviously, the dividend is safe. More importantly, this is an opportunity to buy a company with excellent leadership.

    Royal Dutch Shell’s (RDS.A) (RDS.B) transformation under CEO Ben van Beurden has been truly remarkable. The relatively new CEO has put his mark on the company. He has shown that Shell, under his leadership, has the ability to navigate the downturn with relative ease. Not only that, he has shown the ability to transform a company when most other companies are busy trying to survive. While I won’t be spending much time on the dividend safety, as that has been made clear over and over again, it is safe to say that the 6.6% yield is beyond safe. Investors now have the opportunity to purchase a 6.6% yield with additional capital appreciation should oil rebound. read more

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    Royal Dutch Shell In The Clear

    Aug 24th, 2017
    by John Donovan.
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    : Aug 23, 2017

    Summary

    • Shell’s latest quarter was marked by successful cost reductions and acquisition-related synergies.
    • Shell seems to be able to meet its cash flow obligations without much trouble.
    • I recommend Shell for income investors, but with a few caveats.

    Back on May 24th I “sounded the all clear” on Royal Dutch Shell (RDS.A) (NYSE:RDS.B). Shell, I felt, would henceforth be able to pay its dividends and capital expenditure from operational cash flow. Shell’s latest quarter was another continuation of that, with ongoing synergies from the huge BG Group acquisition two years ago and also continued opex savings. Shell’s pro-forma workforce is about 30% smaller than it was in the beginning of 2016, and while that may not be good for employees who were laid off, it is a reflection of impressive modernization and productivity gains from the company itself. read more

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    Shell Prepares For A Different Energy Reality

    Aug 14th, 2017
    by John Donovan.
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    : 14 August 2017

    Summary

    • This summer has seen the governments of several of the world’s major economies propose to eliminate internal combustion engine vehicles over the next 10-30 years.
    • At the same time, Royal Dutch Shell announced several major clean energy investments over the summer in anticipation of a drop-off in petroleum demand.
    • This article looks at how Shell’s clean energy investments fit into its energy profile forecasts compared to its peers.

    This summer has been filled with the sort of headlines that can give strategic planners in the petroleum & gas sector heartburn. One-upping Germany’s earlier non-binding pledge to ban new internal combustion engine [ICE] vehicles by 2030, the government of France’s new centrist president Emmanuel Macron announced in early July that the country will end sales of ICE vehicles by 2040. This move, which is part of that country’s efforts to comply with its greenhouse gas emission reduction target under 2015’s Paris Climate Agreement, would eliminate gasoline- and diesel-only engines and is aimed at reducing the country’s air pollution as it is at mitigating climate change. Britain intends to do the same by 2050. Even China and India, which have long been posited as important future sources of petroleum demand, are moving to electrify their vehicle fleets: China recently announced that it wants 25% of the country’s vehicles to be “alternative fuel” by 2025, while India is drafting plans to electrify all of its vehicles by 2030. read more

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    Shell considers upgrade at Germany’s largest refinery

    Aug 8th, 2017
    by John Donovan.
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    |By: , SA News Editor:

    Royal Dutch Shell (RDS.A, RDS.B) says it is considering expanding capacity at its 140K bbl/day refinery at Wesseling, Germany, which together with the former Godorf refinery near Cologne-Godorf form its 325K bbl/day integrated Rheinland refinery, the largest in Germany.

    Shell says an expansion would be part of a series of measures aimed enabling production of fuels that will conform to the International Maritime Organization’s more stringent maximum permitted sulfur levels for marine fuels taking effect in 2020.

    The company has not disclosed a time frame for when it might make a decision about the possible expansion.

    SOURCE

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    Shell Set To Play A Major Role In The Global Gas Market

    Aug 4th, 2017
    by John Donovan.
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    Zoltan Ban: Aug. 3, 2017 6:55 PM ET

    Summary

    – Shell profits down compared with the previous quarter, which is in part a reflection of the lower oil prices.

    – While the shorter-term results were affected by the falling oil price, the long term strategy of becoming a leading and dominant player in LNG remains intact.

    – Global energy trends continue to suggest that LNG is a good long-term bet, given economic as well as environmental considerations.

    While Shell (RDS.A) did report a second quarter net operating profit of $1.55 billion compared with $3.5 billion in the previous quarter, it should be noted that when looking at the different sectors, it is the downstream segment which has been helping it stay above water this year. The upstream segment seems to be struggling within the context of the current oil & gas price environment, same as we can expect the global oil & gas industry to do overall. read more

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    Russian pipeline projects likely to go ahead despite sanctions, analysts say

    Aug 4th, 2017
    by John Donovan.
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    Aug. 3, 2017 11:49 AM ET|By: , SA News Editor

    New U.S. sanctions will make it harder and more expensive for Russia to build the Nord Stream 2 and TurkStream gas export pipelines to Europe, but analysts say the two Gazprom-led (OTCPK:OGZPY) projects are unlikely to be stopped.

    But the sanctions bill, which had the overwhelming support of the U.S. Congress before it was signed by Pres. Trump, throws into doubt the €4.75B pledged by European companies including Royal Dutch Shell (RDS.A, RDS.B), Engie (OTCPK:ENGIY) and OMV (OTCPK:OMVJF) to help fund Nord Stream 2 and could threaten other projects. read more

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