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A Glut of Refineries Is the Oil Industry’s Next Problem

A Glut of Refineries Is the Oil Industry’s Next Problem

New capacity in the developing world is making European plants that turn oil into gasoline and other products obsolete

By Rochelle Toplensky: Sept. 3, 2020 5:03 am ET

This year’s oil glut is already receding. It is a shame that can’t be said of the global glut of oil refineries, which is only getting worse.

Europe in particular has long had too many oil refineries, but the pandemic-induced fall in energy demand has ramped up pressure to resolve the problem. For the region’s big oil producers—already reeling after a flood of excess oil pushed some prices below zero in April—a few aging assets are likely in line for a makeover. Others could be destined for the scrap heap. read more

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

Big Oil’s Most Profitable Business Is No Longer Oil

Big Oil’s Most Profitable Business Is No Longer Oil

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

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

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

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

23/07/2020: Paris (AFP)

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

With combined emissions equivalent to that of Germany — the world’s fourth largest economy — both companies are likely to fall “well short” of their own sustainable investment targets, the Institute for Energy Economics and Financial Analysis (IEEFA) said. read more

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

Shell and Total join UK floating offshore wind syndicate

Shell and Total join UK floating offshore wind syndicate

By David McPhee: 22/06/2020

North Sea oil giants Shell and Total have joined a UK floating offshore wind consortium created to drive forward the technology.

The oil firms will work alongside offshore wind developers EDF Renewables, EDP Renewables, Equinor, ESB, Mainstream Renewable Power, ScottishPower Renewables and SSE Renewables as part of Offshore Renewable Energy (ORE) Catapult’s national Floating Offshore Wind Centre of Excellence (FOWCoE). read more

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

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

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

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

By Bloomberg: 09/06/2020

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

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

Chief Executive Officer Ben van Beurden responded by slashing spending and cutting Shell’s dividend for the first time since World War II. read more

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

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.

Coronavirus Outbreaks Threaten Oil Majors’ Biggest Projects

Coronavirus Outbreaks Threaten Oil Majors’ Biggest Projects

By Sarah McFarlane and Vipal Monga:

Oil majors including Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell PLC and Total SA are scrambling to cope with coronavirus outbreaks among their workers that could threaten the profitability of some of their largest projects.

FULL ACCESS SUBJECT TO SUBCRIPTION

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

Oil Majors Take On More Debt To Fund Dividends

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

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

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

Shell 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.

Shell and Total reject Chinese force majeure on liquefied natural gas contracts

Bloomberg News: China LNG Force Majeure Rejected (6:29 p.m. HK) 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 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

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

U.S. Sanctions On Russia’s Nord Stream 2 May Be Half-Hearted

Russia is not forcing Shell to buy its gas. Shell is also a big investor in solar power and is a 50% owner in offshore wind farms Atlantic Shores in New Jersey and the Mayflower Consortium in Massachusetts.

Kenneth Rapoza

Last week’s announcement from the White House of a cease and desist order for the foreign firms building the Russia-to-Germany natural gas line may come about a year too late.

Nord Stream 2 was always seen as a slap in the face to Ukraine, once a main route into Europe for Gazprom’s natural gas from Russia. But Russia and Ukraine have since gone their separate ways, pulled closer into Europe and the U.S.’s orbit by both Washington and Brussels, and now Russia has opted to look for alternatives. 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 Leads Big Oil in the Race to Invest in Clean Energy

By Timothy Abington and Kelly Gilblom: 4 September 2019, 07:00 BST: Updated on 4 September 2019, 11:11 BST

*European majors close many more deals than their U.S. rivals

*Digital and efficiency technologies become popular targets

Major oil companies are poised to do a record number of clean-energy deals this year, with Royal Dutch Shell Plc leading a group of European companies that are well ahead of their U.S. rivals.

The data compiled by BloombergNEF underscore the quickening pace of the transition to low-carbon energy among the world’s largest fossil fuel producers, and the scale of the trans-Atlantic divide. European majors closed seven times as many deals with renewable-electricity and storage companies as their U.S. counterparts since 2010. 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 Profit Misses as Slowing Economy Hurts Gas, Chemicals

Bloomberg: Shell Profit Misses as Slowing Economy Hurts Gas, Chemicals

By Kelly Gilblom: 1 August 2019, 07:15 BST Updated on 1 August 2019, 08:14 BST

Cash flow rises, but integrated gas adjusted profit falls 25%

Shell CEO says macroeconomic conditions were challenging

Royal Dutch Shell Plc got caught into the same earnings trap as many of its peers, reporting second-quarter earnings that fell well short of expectations as the slowing global economy hit everything from natural gas to chemicals.

Profit in Shell’s integrated gas division was down by 25%, but earnings were lower across all of its businesses, including upstream oil and gas production, and refining and chemicals.

“We’ve seen some very severe macroeconomic headwinds — probably most pronounced in our downstream business where we saw some weaker refining margins — but especially a much weaker trading environment for petrochemicals,” Chief Executive Officer Ben Van Beurden said in a Bloomberg TV interview on Thursday. “In our upstream, we’ve seen headwinds particularly in North American gas.” 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: Oil Giants Note — Nigeria Now Has a Chance to Open Its Fields

Bloomberg: Oil Giants Note — Nigeria Now Has a Chance to Open Its Fields

By Dulue Mbachu and Tope Alake: 16 July 2019, 05:00 BST

*Buhari’s parliamentary control could speed passage of reforms

*Oil majors want favorable fiscal terms to explore deep waters

Investors’ 11-year wait for the Nigerian government to open up Africa’s biggest crude industry may be over.

An overhaul of oil policy that’s been in the works for more than a decade is among a raft of laws President Muhammadu Buhari could steer through parliament in his second term to help drive investment in the oil-dependent economy. The delays cost an estimated $15 billion a year in lost funding for the industry over the past decade, according to the Petroleum Ministry. read more

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

Is Shell’s Latest Blockchain Venture A Gamechanger?

By Irina Slav– Jul 11, 2019, 3:00 PM CDT

Shell has furthered its stated commitment to cleaner electricity by investing in a U.S startup that has developed a blockchain-based platform for energy sharing.

The startup, LOW3 Energy, saidin a press release earlier this week that Shell Ventures and Japanese Sumitomo had made “major investments” in its platform, which “represents a landmark moment for LO3 Energy as we begin to scale our blockchain-based energy networks around the world,” according to chief executive Lawrence Orsini. 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 lead in bidding for Dutch Eneco increases as Enel, Total drop out: sources

Clara Denina, Stephen Jewkes, Toby Sterling: JUNE 24, 2019 / 4:43PM

LONDON (Reuters) – A domestic consortium set up by Royal Dutch Shell and pension fund manager PGGM has taken a bigger lead in the race for Dutch energy company Eneco as two other contenders have dropped out, sources close to the matter said.

French oil and gas company Total SA and Italy’s electricity giant Enel, which had teamed up with Dutch pension fund manager APG, have both withdrawn their non-binding offers, said the sources.

One of the sources added that APG was now looking for a new partner.

Infrastructure fund Macquarie and Japan’s biggest trading house Mitsubishi Corp are also still in the race for the company estimated by analysts to be worth about 3 billion euros ($3.4 billion), sources said. One said French nuclear energy utility EDF had also made a non-binding offer. 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 Giants Invest $110 Billion In New Fossil Fuels After Spending $1 Billion On Green PR

Exxon Mobil Corp., Royal Dutch Shell, Chevron, Total and BP together have spent more than $1 billion on public relations since the Paris Agreement.

The world’s five largest publicly traded oil companies are increasing their investments in oil and gas, putting a combined $110 billion in new fossil-fuel production.

Meanwhile, those firms are projected to spend just $3.6 billion on low-carbon investments, such as biofuels and renewables, according to a new analysis that Influence Map, a British nonprofit that analyzes corporate influence on climate policy, derived from industry data and numbers buried in company disclosures.

The reckless disparity comes just months after the United Nations warned that the world must rapidly phase out fossil fuel use over the next decade or face catastrophic global warming of at least 2.7 degrees Fahrenheit. 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 its first carbon reduction targets on output, consumption

Shell sets its first carbon reduction targets on output, consumption

Ron Bousso: March 14, 2019 HOUSTON (Reuters) – Royal Dutch Shell said on Thursday it planned to reduce carbon emissions from its oil and gas operations and product sales by 2 percent to 3 percent during the 2016-2021 period, the first time the company has issued carbon footprint targets. The targets, which will be linked to executive pay, aim to cut greenhouse gas emissions from its oil and gas extraction and refining as well for fuels and other products sold to millions of customers, known as Scope 3 emissions.

Rivals BP and Total have already set short-term targets on reducing carbon dioxide emissions, but those planned cuts are limited to their own operations and exclude Scope 3 emissions.

“Early 2019, it was decided to set a Net Carbon Footprint target for 2021 of 2-3 percent lower than our 2016 Net Carbon Footprint of 79 grams of CO2 equivalent per megajoule,” Shell said in its 2018 annual report, which was released on Thursday.

The targets will be linked to the remuneration of around 150 executives in 2019, and expanded to 16,000 employees next year. read more

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

Novatek, Shell see Russian gas keeping edge in Europe over U.S

Dmitry Zhdannikov: FEBRUARY 27, 2019 LONDON (Reuters) – Russian gas giant Novatek and oil major Shell said on Wednesday Russian gas would remain more competitive in Europe than U.S. gas, as Moscow pursues new mega projects that would be insulated from any new U.S. sanctions.

The United States has already imposed numerous sanctions against Russian individuals and companies over Moscow’s interference in Ukraine, alleged meddling in the 2016 U.S. presidential election, and accusations it was behind a nerve agent attack in Britain. Russia denies the allegations.

Washington is mulling new sanctions that could put further strain on Russia’s economy and companies. So far, there have been no sanctions affecting conventional or liquefied natural gas (LNG) production in 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.

Exclusive: Nigeria hits oil majors with billions in back taxes

FILE PHOTO: A view shows the Bonny oil terminal in the Niger delta which is operated by Royal Dutch Shell in Port Harcourt, Nigeria August 1, 2018. REUTERS/Ron Bousso/File Photo

RON BOUSSO: FEBRUARY 21, 2019

LONDON (Reuters) – Nigeria has ordered foreign oil and gas companies to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy.

In a letter sent to the companies earlier this year via a debt-collection arm of the government, Nigerian National Petroleum Corp (NNPC) cited what it called outstanding royalties and taxes for oil and gas production. 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, Total among the majors committed to developing Chinese acreage

China signaled its openness for business with a raft of deals that’ll give oil majors including Royal Dutch Shell Plc new opportunities to develop fields in partnership with the nation’s biggest offshore explorer.

Written by

China National Offshore Oil Corp. said in Beijing on Tuesday that it had inked oil and gas accords with nine firms. The signing ceremony followed President Xi Jinping’s address to party cadres marking 40 years of reform and broadly underlining the nation’s commitment to global trade.

The agreements cover 64,000 square kilometers in the Pearl River basin, to a depth of up to 3,000 meters. In addition to the Netherlands-based Shell, France’s Total SA and U.S.-based Chevron Corp. were also awarded parcels. All three majors hold existing production sharing contracts with CNOOC. The other firms involved are: ConocoPhillips, Equinor ASA, Husky Energy Inc., Kuwait Foreign Petroleum Exploration Co., Roc Oil Co., and SK Innovation Co. 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 CEOs Jostle for Global Natgas Crown Under Putin’s Gaze

Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden

By Elena Mazneva , Dina Khrennikova , and Jack Farchy

4 October 2018, 00:01 BST

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

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

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

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.

In Nigeria, Shell’s onshore roots still run deep

An overview of the Niger delta where signs of oil spills can be seen in the water in Port Harcourt, Nigeria August 1, 2018. Picture taken August 1, 2018. REUTERS/Ron Bousso

Ron Bousso: SEPT 23, 2018

BODO, Nigeria (Reuters) – Royal Dutch Shell wants to reweight its footprint in Nigeria to focus on oil and gas fields far offshore, away from the theft, spills, corruption and unrest that have plagued the West African country’s onshore industry for decades.

But for the company that pioneered Nigeria’s oil industry in the 1950s, the Niger Delta remains as important — and problematic — as ever.

While Shell has cut onshore oil production and sold some onshore assets, it continues to invest in others. In fact, onshore production has risen in recent years as a share of Shell’s output in Nigeria, an analysis of company data over the past decade shows. 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 changes offshore rotas in UK North Sea after strikes at Total

SEPTEMBER 18, 2018 / 10:33 AM

Shell changes offshore rotas in UK North Sea after strikes at Total

LONDON (Reuters) – Oil giant Shell (RDSa.L) will switch to a less tiring rota system for its offshore workers in the British North Sea, it said on Tuesday, as rival Total (TOTF.PA) has faced strike action over plans to have workers spend more days offshore.

Workers at three of Total’s offshore platforms in the British North Sea have staged strikes over the group’s plans to introduce a rota that would require them to stay offshore for three weeks and onshore for three weeks.

Fewer staff changeovers can increase efficiency and save transport costs. 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.

ExxonMobil Oil Reserves Trump Shell’s But Its $305B Revenue Beats That Of U.S. Rival

Gaurav Sharma: 

For ExxonMobil (NYSE:XOM) shareholders much of the current trading has felt decidedly lackluster. Upon the conclusion of the recent earnings season, most commentators agreed that neither it nor its Anglo-Dutch rival Shell (LON:RDSA) managed to captivate the market’s imagination.

Instead, that accolade went to BP (LON:BP) with its quadrupling of quarterly profits and a $10.5 billion signature acquisition of U.S. shale assets. Furthermore, an examination of annualized financials suggests Shell’s revenue, at $305.2 billion in 2017, capped that of ExxonMobil at $237.1 billion by some distance, even though the latter’s profits and market capitalization exceed that of its rival. 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.

European Firms Hit Hard By U.S. Sanctions On Iran

Along with Royal Dutch Shell, Total was among the first energy companies to halt crude oil purchases from the Islamic Republic, fearing repercussions if they failed to do so.

By Scott Belinksi – Sep 01, 2018, 10:00 AM CDT

As Iran is turning to the UN’s International Court of Justice to have the US-imposed sanctions against its oil suspended, the EU is preparing for the hit its economies will have to absorb once the full weight of Washington’s punitive measures comes into effect in the fourth quarter of this year. With these latest moves, American intentions are clear: cut off Iranian oil from the market entirely and reduce Tehran’s financial power. As oil prices rise, however, the White House’s policy looks set to hurt more countries than just Iran. Will Europe’s economies take the hit – or will they fight back? 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.

Will Royal Dutch Shell Follow Its Peers And Raise Its Dividend?

Aristofanis Papadatos: 25 August 2018

Summary

  • Royal Dutch Shell has not cut its dividend since World War II and is currently offering a 5.6% dividend yield.
  • The oil major has frozen its dividend for 18 consecutive quarters.
  • The big question is whether it will raise its dividend amid excessive free cash flows and a brightening outlook of the oil sector.

Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) is an oil giant that has benefited from the rally of the oil price in the last 12 months, just like its peers. However, the oil major has paid the same dividend for 18 consecutive quarters, as it froze its dividend at the onset of the downturn of the oil market that began in 2014. Therefore, the big question is whether the company will raise its dividend in the upcoming quarters.

Dividend record

Despite the downturn that began in 2014, Exxon Mobil (XOM), Chevron (CVX) and Total (TOT) have continued to raise their dividends, albeit at a low single-digit rate. BP (BP) followed the same path as Shell and froze its dividend for 15 consecutive quarters, but eventually raised it in the running quarter, thanks to the strength of the oil price and the brightening outlook of the oil market. Therefore, Shell is the only oil major that has kept its dividend flat for such a long period. 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 Major and Miner Ethics Scrutinized by Methodist Investors

By Elizabeth Burden and Thomas Biesheuvel
15 August 2018, 08:54 BST

*Methodist fund developing system analyzing company ethics
*Top mining and oil companies will be graded by end of 2018

Divestment may be too blunt an instrument to encourage the world’s biggest oil and mining companies to behave ethically: the Methodist Church is prepared to back those committed to mending their ways.

While the precise workings of its new “traffic light system” are still being debated, the Central Finance Board of the Methodist Church plans to determine by the end of the year whether BP Plc, Royal Dutch Shell Plc, Total SA and Equinor ASA have the ethical credentials to merit continued investor support. Those preferences will be denoted by red, amber and green categories, which will reflect a firm’s efforts and commitment to reducing greenhouse gas emissions, its asset mix, capital expenditure, climate strategy and governance. 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.

No luck for Shell in pioneer effort offshore Norway

Daniel J. Graeber: AUG. 8, 2018

Aug. 8 (UPI) — A division of Shell came up empty-handed when drilling into a frontier prospect in the Norwegian Sea, a national petroleum regulator announced Wednesday.

The Norwegian Petroleum Directorate, the nation’s energy regulator, reported that the regional subsidiary of the Dutch supermajor drilled a dry hole in its first effort in a wildcat area near the Ormen Lange field in the Norwegian Sea.

A wildcat well is one drilled into an area not previously known to contain hydrocarbons. The NPD said the drilling facility used in the effort will now move to another license area in the Norwegian Sea where a regional division of French supermajor Total will try its hand with a wildcat well. 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 make final investment call on Nigeria oilfield in 2019: official

Reuters Staff: JULY 31, 2018

ABUJA (Reuters) – Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield, a senior company official said on Tuesday.

The project, one of the country’s largest with an expected production of 180,000 barrels per day, will generate profit at below $50 a barrel, Bayo Ojuli, managing director of Shell Nigeria Exploration and Production Company, told reporters. 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 Starts Long-Awaited Buybacks Even as Profit Misses

By Kelly Gilblom: 26 July 2018, 07:21 BST. Updated on 26 July 2018, 08:40 BST

*Energy giant to buy back $2 billion of shares over 3 months

*Second-quarter profit misses even the lowest analyst estimate

Royal Dutch Shell Plc finally gave investors the share buybacks they’ve been demanding, even as profit fell short of expectations despite resurgent crude prices.

The Anglo-Dutch energy producer said Thursday that it is starting a $25 billion share-repurchase program, initially buying up $2 billion of stock over three months. That should soothe investors who have grown increasingly anxious about when they’ll see the reward for sticking with Shell through the biggest oil-industry downturn in a generation. read more

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Shell ramps up in Kitimat, raising Canada’s $30B LNG hopes

NATALIE OBIKO PEARSON, BLOOMBERG: July 9, 2018

A flurry of activity is raising optimism that Royal Dutch Shell Plc and its partners are ready to go ahead with the nation’s largest infrastructure project: a $40 billion liquefied natural gas terminal that could at last unlock energy exports to Asia.

The action is unmistakable in Kitimat, the Pacific coast city hugging a deep inlet that would be the closest launch point on the continent for LNG cargoes to Asia. The lights are on, shades open and SUVs parked outside a 49-unit apartment complex built to house Shell executives, which sat mostly darkened for the last two years. Local workers have left jobs at a Rio Tinto Plc smelter nearby to join contractors ramping up for the LNG project. Landlords are raising rents and houses are selling twice as fast as they used to in anticipation of a flood of workers coming to town. read more

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

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

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

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

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The World’s Largest Oil & Gas Companies 2018: Royal Dutch Shell Surpasses Exxon As Top Dog

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Royal Dutch Shell took the top spot among oil and gas companies on the Forbes Global 2000’s list of the biggest and most powerful public companies, surpassing last year’s leader Exxon Mobil Corp.

The Anglo-Dutch oil and gas giant ranked 11th among all companies on the list, up from 20th the previous year, mostly because of higher sales due to lofty commodity prices. Irving, Texas-based Exxon came in at 13th, the same as last year. read more

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Shell Tries to Market Some of Its Natural Gas as Clean Energy

By Mathew Carr, 1 June 2018

Royal Dutch Shell Plc is attempting to market some of its natural gas as clean energy, packaging it with credits for eco-friendly projects that offset pollution coming from the fuel.

The oil giant is offering business customers in Europe a combination of gas and certificates that show emissions are offset with financing for carbon-reduction projects. It’s testing markets in Germany, Italy, Spain and Britain to gauge demand for what credits to use, according to David Wells, head of Shell Energy Europe. read more

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Total warns of Iran pullout over US sanctions threat

in Paris and and in London: 16 May 2018

Royal Dutch Shell, the largest European oil and gas group, also struck a provisional agreement with Iran in 2016 to carry out studies in three of the country’s biggest oil and gasfields. However, that agreement represented a much less firm commitment than Total’s and Shell has not opened an office in Iran or moved staff there. The Anglo-Dutch group said on Wednesday that it was still assessing the implications of Mr Trump’s withdrawal. FULL FT REPORT read more

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Total, Shell in gas development deal with Oman

Two oil majors have struck a deal with Oman over the development of natural gas resources in the Middle Eastern state.

Written by

Total and Shell, as operator, will develop several natural gas discoveries located in the Greater Barik area on onshore Block 6 with respective shares of 25% and 75%.

They aim to produce of around 500million cubic feet of gas per day, rising to 1billion at a later stage.

Total will use its share to develop a regional hub for supplying LNG as a fuel to marine vessels.

Arnaud Breuillac, president, exploration and production at Total, said: “We are pleased to sign this MoU with the Sultanate of Oman that will give us access to new gas resources and the opportunity to develop an integrated gas project. read more

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Nigeria draft oil reforms seek to establish powerful industry regulator

FILE PHOTO: The Nigeria National Petroleum Corporation (NNPC) headquarters are seen in Abuja, Nigeria December 5, 2017. REUTERS/Afolabi Sotunde/File Photo

For decades, communities in the Niger Delta oil heartland have complained that spills and pollution have destroyed their land and killed off wildlife. Rights group Amnesty International accused international oil majors Royal Dutch Shell PLC and Eni SpA in March of negligence when addressing spills in Nigeria.

ABUJA (Reuters) – Nigeria’s government plans to create a powerful energy regulator with broad oversight of the oil and gas sector, according to draft versions of sweeping reforms known collectively as the Petroleum Industry Bill (PIB).

The draft laws, posted on the Nigerian legislature’s website on April 30, are the versions intended for the Senate, the upper house of parliament.

The PIB aims to improve transparency, attract investors, stimulate growth and increase government revenues.

After being debated for well over a decade, the unwieldly and contentious legislation was broken into sections to help it pass into law. read more

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Offshore industry ‘perilously close to disasters’ warning from HSE

The Health and Safety Executive has written to all oil and gas operators expressing concern about the number of gas releases in the industry.

The regulator said some had come “perilously close to disaster” and that more needed to be done to tackle them.

The HSE said a “lack of leadership” was often to blame for leaks, and called for firms to review their processes.

Operators have until July to respond with a summary of their planned improvements.

The HSE has written to operators ahead of the 30th anniversary of the Piper Alpha disaster. The platform exploded in July 1988, leaving 167 men dead. read more

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Shell’s Climate Liability Threat Goes Global

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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Oil’s Seven Sisters Enter a ‘Golden Age’, Goldman Sachs Says

The world’s largest oil companies have survived a life-changing crisis, and are now poised to reap the rewards, Goldman Sachs Group Inc. said.

Big Oil is in a sweet spot with rising oil prices and low operating costs, leaving them with the biggest cash-flow growth in two decades and boosting earnings, Goldman said in a report Monday. That will increase their attraction for investors after years of elevated spending followed by crude’s slump sent their weighting in global equity indexes to a 50-year low, according to the bank.  read more

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Auction of Oil Drilling Tracts in Gulf Draws Tepid Interest

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

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

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

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Lithium Seen as Lifeline for Oil Majors in Clean Energy Future

Lithium could be a lifeline for oil majors as the energy industry shifts toward lower-polluting alternatives to fossil fuels, said Jeff McDermott of Greentech Capital Advisors LLC.

“Their specialty is resource extraction,” McDermott, managing partner of the New York-based boutique investment bank advising energy companies and investors, said in an interview in London. “They should buy lithium miners, get involved in the upstream of core battery technology.”

This suggestion marks out one solution to the existential question some of the world’s biggest energy companies are facing about how to survive as governments clamp down on the fuels they produce. As the curbs on carbon emissions tighten, a key issue for fossil fuel producers are how much oil and gas demand is at risk. read more

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Nigeria State Oil Company Hasn’t Explained Missing Billions

An agency tasked with cleaning up Nigeria’s murky oil industry says even though financial accountability has improved the state oil company still hasn’t explained billions of dollars of missing revenue.

While energy producers have cooperated and complied with requirements to publish payments, the Nigeria Extractive Industries Transparency Initiative has struggled with the state-owned Nigerian National Petroleum Corp., Waziri Adio, executive secretary of the agency known as Neiti, said in a March 7 interview in Abuja, the capital. The state oil company hasn’t explained what it did with at least $22.7 billion earned from the sale of oil licenses and in dividends from its stake in Nigeria LNG Ltd. over a 15-year period, he said. read more

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Coal is out and oil is fading, making natural gas the fossil fuel of choice

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

Coal is too dirty. Oil is too messy. And renewables are too intermittent. But natural gas is just right.

Energy companies of every stripe have fallen in love with the stepchild of fossil fuels. No longer considered an annoying byproduct of oil drilling, natural gas’ multiple applications and relative cleanliness guarantee it a place in the future energy mix.

The CEO of French energy giant Total, Patrick Pouyanné, joked that he runs a gas and oil company, rather than oil and gas, during his appearance at CERAWeek by IHS Markit, the annual energy conference in Houston. Every major international energy company in the world is emphasizing gas over oil. read more

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Shell looks to meet growth in LNG trucking in Asia

SINGAPORE (Reuters) – Royal Dutch Shell is planning to build a truck loading facility at its Hazira liquefied natural gas (LNG) terminal on India’s west coast as it looks to meet demand from industrial users, a top company official said on Friday.

The facility, which could be ready by next year, will be used to supply industrial demand through trucking in places that can’t access supply from the grid, said Steve Hill, executive vice president at Shell Energy.

“It has a big potential growth … in India because energy supply reliability is a big issue in India,” he said at a media briefing in Singapore, referring to LNG being transported in trucks to industrial users.

“There hasn’t been as much supply infrastructure in place, but some of the import terminals are now putting the truck loading facilities in place so that’s opening up that option.”

Shell Gas B.V, a unit of Royal Dutch Shell Plc, holds a majority stake in the Hazira LNG Terminal and Port in a venture with a unit of France’s Total SA.

LNG trucking works well for locations off-grid, with China and India the two obvious markets, Hill said. read more

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Houston outlook bright with U.S. shale set to dominate global growth for years

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

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

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

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

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Big Oil CEOs Urge Norway to Throw a Lifeline to Carbon Capture

Saetre, Pouyanne & van Beurden in Oslo, Feb. 15 2018.: Photographer: Kyrre Lien/Bloomberg

Three of the world’s biggest oil companies called on Norway to help maintain funding for carbon capture and storage technology that is stagnating amid concerns about whether it can ever be cost-effective.

The chief executive officers of Royal Dutch Shell Plc, Total SA and Norway’s state-controlled Statoil ASA gathered on the sidelines of an energy conference in Oslo to make the case for a flagship Norwegian project, in which the companies plan to store CO2 emissions under the North Sea after they’ve been shipped and piped from onshore industrial plants. read more

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Hail shale, but deepwater oil fights back

Ron Bousso: 14 FEB 2018

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

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

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

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