Shares in Shell and BP still part of the scheme

Jon Stone Policy Correspondent @joncstone: 24 March 2020

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

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

MPs have however welcomed news in the fund’s latest filings that it is increasingly shifting its cash towards renewable energy – with five per cent of investments going to the green sector for the first time. read more

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

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

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

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

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

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

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

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

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

Jonathan Saul

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

A Shell spokeswoman declined to comment.

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

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

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

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

By Akin Akinwale: 8 March 2020

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

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

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

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

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

Shell to explore sale of two U.S. refineries

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

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

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

New York, NY—The International Institute for Conflict Prevention and Resolution (CPR), a global non-profit organization that advances dispute prevention and resolution practices and solutions, announced that Kimberly R. Phillips, General Counsel, Global Litigation, for Shell Oil Company has joined its Board of Directors. She was confirmed at a Board Meeting that took place just prior to CPR’s Annual Meeting in St. Petersburg, Florida in late February.

Kimberly is a seasoned legal professional with experience in both the private law firm and corporate legal environments. In her current General Counsel role, she leads a team of 125 lawyers and legal professionals, sitting in 14 countries, who are responsible for managing Shell’s disputes across the globe. She sits on the Global Legal Leadership Team and she also supports a Shell subsidiary business as a Board Director. read more

MARCH 2, 2020 / 5:02 PM

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

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

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

Check out our latest analysis for Royal Dutch Shell

Royal Dutch Shell Insider Transactions Over The Last Year

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

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

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

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

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

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

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

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

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

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

FEBRUARY 6, 2020

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

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

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

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

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

(Reporting By Jessica Resnick-Ault)

SOURCE

FEBRUARY 5, 2020

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

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

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

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

(Reporting By Jessica Resnick-Ault)

SOURCE

2 February 2020: Martinez Bay City News

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

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

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

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

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

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

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

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

• 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

JANUARY 29, 2020

Yusuf Alli, Managing Editor, Abuja

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

The others are Munamuna Seidougha and Amaran Joseph.

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

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

By: Justin Harper | January 20, 2020

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

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

HOUSTON — Shell Oil Co. is launching a nationwide in-vehicle payment platform. Shell-branded gas stations across the United States will now accept payment through Uconnect Market, Fiat Chrysler Automobiles’ (FCA) new in-vehicle commerce platform.

This makes Shell the only vendor in Uconnect Market that allows consumers to find the nearest gas station, purchase fuel and services and save money on Shell fuel purchases from the comfort of their vehicles, the company said.

Customers who fuel eligible Chrysler, Dodge, Jeep and Ram brand vehicles at participating Shell stations will be able to use Shell Pay & Save within Uconnect Market to pay for their fuel directly from their in-vehicle touchscreens, earn and redeem valuable Fuel Rewards savings and quickly get back on the road. read more

Extinction Rebellion: The more successful fossil fuel companies like Shell are, the worse our future is going to be.

Climate change activists have blocked the entrance to the headquarters of oil giant Shell in Aberdeen.

Extinction Rebellion Scotland members began their protest at the premises on Altens Farm Road at 6.30am on Thursday and said they plan to stay there all day.

The group say they have secured the entrances with lock-on equipment and the main entrance with XR Scotland’s big purple boat, named Amal Gous.

Harm

They said they plan to shut the building down to disrupt business and hold Shell to account for its role in the climate crisis. read more

Shell thinks aviation fuel will be one of the critical growth areas to explore, as ground vehicle transportation fuel and other segments are expected to decline over time. One of these expected growth segments will be sustainable aviation fuel (SAF), where a project with Lufthansa and World Energy is starting up in California.

Shell Aviation and Boston-based World Energy will help Lufthansa meet carbon emissions reduction targets by supplying the SAF on three routes operated by Deutsche Lufthansa and Swiss International Air Lines from San Francisco International Airport (SFO) to Frankfurt, Munich, and Zurich. The project is expected to supply up to one million gallons of SAF to Lufthansa over the duration of the agreement. read more

Jessica Resnick-Ault

With the news that Royal Dutch Shell Plc is looking to unload its Anacortes, Washington, facility, there are seven different U.S. refineries on the block now, accounting for about 5% of U.S. crude oil processing capacity, according to data compiled by Reuters.

Even with U.S. energy production at an all-time record, these properties, located from Washington state to Pennsylvania, are having trouble finding bidders because of unfavorable locales, worries about falling margins, and the coming restart of nearby facilities in the Caribbean that will add to competition, bankers and analysts said. read more

Zacks Equity Research: January 6, 2020

Royal Dutch Shell RDS.A along with another supermajor Chevron Corporation CVX and a state-owned entity Mubadala Petroleum clinched oil and gas exploration concessions in Egypt’s Red Sea. In its first ever round of licensing in the Red Sea, Egypt awarded Block 1 and Block 2 to Chevron and Shell, respectively. The third block was jointly conferred on Shell and Abu Dhabi’s Mubadala Petroleum.

The exploration concession wins were in line with Shell’s growth commitment to cement its position offshore Egypt, mainly in the marine concession and deep-water regions, thereby supporting the government’s energy hub vision and increasing the LNG value chain. read more

Shaffiq Alkhatib

SINGAPORE – A former tanker captain linked to the largest gas oil theft that Singapore has ever seen has admitted to his role in the crime.

The Straits Times had earlier reported that 340,000 tonnes of gas oil worth over $200 million had been stolen over the years since 2014 from Shell’s refinery in Pulau Bukom, the largest petrochemical production and export centre in the Asia-Pacific region.

Nguyen Duc Quang, 48, received misappropriated gas oil worth more than US$7.3million (S$9.8 million) in all. read more

Jan. 2, 2020 12:34 AM ET|

About: Shell Midstream Partners, L.P. (SHLX), Includes: RDS.A

Summary

December 29, 2019

CAIRO (Reuters) – Egypt said on Sunday that it awarded oil and gas exploration concessions in the Red Sea to Chevron (CVX.N), Royal Dutch Shell (RDSa.L) and Mubadala MUDEV.UL in an international tender.

Chevron was awarded the first block, Shell a second block, and a third block was awarded jointly to Shell and Mubadala with a total exploration area of around 10,000 square km (3,860 square miles) and with a minimum investment of $326 million, the petroleum ministry said in a statement. read more

By Nick Cunningham – Dec 22, 2019, 6:00 PM CST

On Friday, Royal Dutch Shell announced that it would take a $1.7-$2.3 billion write down for the fourth quarter, another financial blow to an industry dealing with oversupply and low prices.

The write down is the result of the bad “macro outlook,” Shell said in a press release, which refers to the slowdown in the global economy, weak demand growth and relatively low prices for gas, oil and for refining margins. “Additional well write-offs in the range of $100-200 million are expected compared to the fourth quarter 2018. No cash impact is expected,” Shell said in a statement. The company’s share price in London fell 1 percent on the news. read more

GlobeNewswire: Shell fourth quarter 2019 update note

December 20, 2019 02:02 ET | Source: Royal Dutch Shell

The Hague, December 20, 2019 – This is an update to the fourth quarter 2019 outlook provided in the third quarter results announcement on October 31, 2019. The impacts presented here may vary from the actual results and are subject to finalisation of the fourth quarter 2019 results which are scheduled to be released on January 30, 2020.

Unless otherwise indicated, presented earnings impacts relate to earnings on a current cost of supplies basis, attributable to shareholders, excluding identified items. read more

Two extracts from the CIOs featured in the CIO article.

Craig Walker, VP and global CIO, Shell Downstream

Shell Downstream’s VP and global CIO Craig Walker has helped the organisation along its digital journey, and he sees business models, customer connectivity, innovation and digitisation as the main accelerators for change.

“Our history for 100 or more years has been oil and gas, predominantly oil in the early days and then far more gas business,” Walker said. “But these days, we’re very much moving to be an energy business. read more

December 8, 2019

THE International Police (INTERPOL) has rejected the request of former Attorney-General and Minister of Justice Mohammed Bello Adoke for release from its custody in Abu Dhabi, United Arab Emirates (UAE).

It said it could not grant the request because it deals with states and not individuals. Adoke’s lawyers wrote the INTERPOL, seeking his release based on what they called the vacation, on October 25, of the warrant of arrest issued against him by Justice Danlami Senchi of the Federal Capital Territory (FCT) High Court in Abuja. read more

December 6, 2019

QUITO (Reuters) – Ecuador’s state-run oil company Petroecuador said on Friday it had awarded a unit of Royal Dutch Shell a contract to lift some 20.2 million barrels of Oriente-grade crude between 2020 and 2023.

Shell Western Supply and Trading beat out the other two bidders, Trafigura and Mitsubishi , by offering to pay a premium of 71 cents per barrel above the reference price for West Texas Intermediate crude.

Petroecuador expects the deal to bring in some $950 million. The Andean country produces some 545,000 barrels per day of crude. read more

Market analyst Kline & Company has once again named Shell as the leading global supplier of finished lubricants.

It is the 13th consecutive year that Shell has topped the Kline Global Lubricants Industry: Market Analysis and Assessment.

The 2019 report uses 2018 as the base year, and covers all leading lubricant-consuming country markets, market segments, product types, and formulations.

According to the report, Shell grew its leading global market share in 2018 relative to the year prior, while its competitors saw declines. read more

(Alliance News) – Royal Dutch Shell PLC is mounting an appeal after a judge in Nigeria made a GBP33 million damages award following an oil pipeline rupture half a century ago.

Bosses are preparing to challenge the 2010 ruling, made after a hearing in the Federal Court of Nigeria, in the Nigerian Supreme Court.

Detail of the appeal was outlined on Thursday in a ruling by a judge who considered issues in the case at a High Court hearing in London.

Judge Jason Coppel heard that a lesser ranking judge in London had earlier this year “registered” the Nigerian ruling in England. read more

Wednesday 04 December 2019

Energy company Shell has won a court order to prevent activists from boarding installations in the North Sea.

The company secured an interim interdict against Greenpeace at the Court of Session in Edinburgh on Wednesday.

“We wholeheartedly support the right to protest peacefully and safely.

“We’re pleased this decision recognises that the existing legal safety zone should be respected by campaigners.”

Shell said of the four Brent platforms, only one – Brent Charlie – is now manned, from which Shell staff could be required to give urgent assistance to any protesters in the event of an emergency but this would also put their teams at risk. read more

Shell, Mitsubishi, Trafigura Present Bids for Ecuador Oil Contract-Minister

By Reuters: Dec. 3, 2019

QUITO — Royal Dutch Shell, Mitsubishi Corp and Trafigura presented bids for a contract to lift some 20.2 million barrels of Ecuadorean crude between 2020 and 2023, the Andean country’s energy minister told reporters on Tuesday.

The country expects to pick a winner for the contract, which is expected to generate $950 million (£740.45 million) in export income for Ecuador, in the coming days, said the minister, Jose Agusto.

Ecuador invited some 51 companies to participate in the auction, the first of its kind in more than a decade. The price of the oil will be determined by a formula taking into account the price of the country’s oil sales on the spot market plus a premium. read more

Royal Dutch Shell is set to plug its last remaining Brent oil wells in the North Sea next year

By Sarah McFarlane: Dec. 2, 2019 6:06 am ET

The world’s most famous oil and gas field—and the backbone of global crude pricing—has dried up. Soon the Brent benchmark will have no Brent oil. Royal Dutch Shell PLC is expected next year to plug the last remaining Brent oil wells, located in the North Sea’s East Shetland Basin, about 115 miles northeast of Scotland’s Shetland Islands. The closures mark the end of an era, as the industry shifts its focus to smaller oil finds near existing infrastructure. FULL WSJ ARTICLE (PAYWALL) read more

UPDATE 1: Kazakh oilfield Kashagan halves output due to unplanned maintenance – sources

Tue, 26th Nov 2019 14:50

MOSCOW, Nov 26 (Reuters) – Oil and gas condensate output from Kazakhstan’s giant Kashagan project has more than halved from early November levels due to unplanned maintenance that started last week, two industry sources told Reuters on Tuesday.

Production at the facility stood at 184,000 barrels per day (bpd) as of Nov. 25, the sources said, down from 400,000 bpd at the start of the month.

The Kazakh energy ministry said last week that Kashagan was undergoing maintenance at a gas compressor unit, which was expected to last for seven days. read more

Shell to Continue Search in Renewables After Losing Eneco Tender

By Reuters

Nov. 25, 2019, 6:01 a.m. ET

LONDON — Royal Dutch Shell said on Monday it was disappointed to lose a tender for Dutch renewable energy business Eneco which went to a group led by Japan’s Mitsubishi Corp for 4.1 billion euros ($4.52 billion).

The Anglo-Dutch oil and gas company said in a statement it “will continue to look for opportunities in the energy transition” and aims to invest $2 to $3 billion per year from 2021 onwards.

(Reporting by Ron Bousso; editing by Jason Neely) read more

NOVEMBER 18, 2019

(Reuters) – A crude oil spill onto a barge docked at Royal Dutch Shell’s oil refinery at Puget Sound, Washington, late on Friday was contained on Saturday, the company said in a statement.

Twenty gallons of oil leaked onto the barge, out of which 5 gallons reached the waters of Fidalgo Bay, Shell said in another statement on Sunday. Clean-up operations were completed and all recoverable product was removed from the water, the company said.

The source of the crude spill was identified as a pressure relief valve on the barge and the source was secured, the company said earlier. read more

Oil supermajor Royal Dutch Shell has appointed investment bank Citi to run the $1 billion (£781.5m) sale of its oil and gas assets in Egypt’s Western Desert.

Sources told Reuters that the sale should be officially launched at the end of the month.

Shell announced plans for the sale, which includes a portfolio of 19 oil and gas leases with production of 100,000 barrels of oil per day, in October.

The company said that it was getting rid of the onshore assets so it could focus instead on developing its offshore footprint in the country. read more

Javier Blas and Alaric Nightingale, Bloomberg News: 15 Nov 2019

Royal Dutch Shell Plc has made US$1 billion from trading fuel oil this year, making it one of the standout winners from rules designed to make the shipping industry greener.
Shell said last month that it made substantial money in fuel-oil trading in the third quarter, but the company didn’t disclose the size of the profits. Shell traders celebrated hitting the $1 billion mark so far, likely the biggest by any one company in fuel oil this year, by ringing a bell on the company’s trading floor in London earlier this month, people familiar with the matter said. read more

By Kevin Orland: 14 November 2019, 12:00 GMT Updated on 14 November 2019, 16:38 GMT

*Shell Canada head Crothers points to LNG project, gas stations

*Company has no plans to divest remaining oil-sands stake

Royal Dutch Shell Plc is reassuring investors, workers, and anyone else who will listen that it’s the international oil major that’s staying in Canada as others pull up stakes.

Shell’s future in the country is largely as a natural gas producer and exporter focused on the $30 billion LNG Canada project, though the company is also committed to its local chemicals and retail businesses, Shell Canada head Michael Crothers said in an interview. read more

Nathalie Thomas in Edinburgh: 11 Nov 2019

At the vast Pernis refinery in Rotterdam, where Royal Dutch Shell processes 20m tonnes of crude oil a year, any glitches or unplanned downtime can be costly. The equipment and operating conditions at Europe’s largest refinery are monitored using 50,000 sensors that generate 100,000 measurements a minute. Last year Shell started using machine learning to better analyse and process that data. The model was designed to predict failures in control valves, and it allowed workers to carry out maintenance or adjust operating conditions as needed. Shell has since expanded the programme to 19 assets. read more

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SHELL RELATED EXTRACTS FROM AN ARTICLE BY JACOBIN PUBLISHED UNDER THE HEADLINE “THE NIGERIAN ACTIVIST WHOSE DEATH SHAMED SHELL”

AN INTERVIEW WITH ROY DORON / TOYIN FALOLA: 10 NOV 2019

Twenty-four years ago today, environmental activist Ken Saro-Wiwa was executed by the Nigerian state. His death brought international attention to the rapacious behavior of oil companies like Shell — and their complicity in the most violent forms of repression.

Born in 1941, Ken Saro-Wiwa came of age as Nigeria gained independence and became a lifelong advocate for the importance of minority rights within a unified national identity. A member of the Ogoni ethnic group, who at only half a million hold little sway in a country of two hundred million, Saro-Wiwa was central to mobilizing a popular movement that demanded accountability for companies like Shell that were extracting oil in the creeks of the Niger Delta. read more

Esther Kiobel: 2019

YOU AGAIN NOVEMBER 10

(A POEM IN MEMORY OF DR. BARINEM NUBARI KIOBEL):

BY ESTHER BARINEM-KIOBEL

I stare at your open mouth
I writhe in pain and lie speechless with despair as companion
I asked God why he forsook me
l went fainted for a while
My heart singing the melody of agony at your thought
I was revived by good people around me
They preached to me. I got strong and I got moving again
Oh! November 10! You again!
You can’t torment me
Because I sing of a hero
A rare gem whose blood was spilt to rescue his people
And never allowed cowardice to eat up his soul read more