25 Sept 2018

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

Tom DiChristopher | @tdichristopher

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

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

In Nigeria, Shell finds there’s no easy way out

25 Sept 2018

Royal Dutch Shell wants to shift its operations 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.

SOURCE

Sep. 24, 2018 6:06 PM ET| By: Carl Surran, SA News Editor

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

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

Olesya Astakhova

MOSCOW (Reuters) – Production of oil and natural gas at the Russian Pacific island of Sakhalin is expected to decline next year, the local government said in an emailed response to a Reuters query.

Sakhalin, which is also famous for producing seafood, derives most of its oil and natural gas from two offshore projects – Sakhalin-1, led by ExxonMobil, and Sakhalin-2, led by Russia’s Gazprom.

Sakhalin-1 shareholders also include Russia’s Rosneft, Japan’s Sodeco and India’s ONGC. Apart from Gazprom, Sakhalin-2 shareholders include Royal Dutch Shell, Mitsui and Mitsubishi. read more

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

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

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

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

Newly found documents from the 1980s show that fossil fuel companies privately predicted the global damage that would be caused by their products.

The documents make for frightening reading. And the effect is all the more chilling in view of the oil giants’ refusal to warn the public about the damage that their own researchers predicted. Shell’s report, marked “confidential,” was first disclosed by a Dutch news organization earlier this year. Exxon’s study was not intended for external distribution, either; it was leaked in 2015.

Nor did the companies ever take responsibility for their products. In Shell’s study, the firm argued that the “main burden” of addressing climate change rests not with the energy industry, but with governments and consumers. That argument might have made sense if oil executives, including those from Exxon and Shell, had not later lied about climate change and actively prevented governments from enacting clean-energy policies. read more

At approximately 5 a.m. on September 10, during heavy rains brought on by Tropical Storm Gordon, a methane gas pipeline run by Energy Transfer Partners in Beaver County was hit by a landslide and exploded. No lives were lost, but a home was destroyed, dozens were evacuated and several farm animals were killed in the blast.

The pipeline had been operating for one week.

Environmental groups in the Pittsburgh region say the incident raises significant questions about the long-term safety of pipelines and natural gas infrastructure all over Western Pennsylvania. read more

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

Shell targets lower methane emissions from oil and gas operations

Methane is released into the atmosphere mostly from the burning of excess gas, known as flaring, as well as through leaks in gas infrastructure such as wells, pumps and pipelines.

The gas has a bigger greenhouse impact than carbon dioxide, even though the oil and gas industry produces less methane and the gas also has a shorter lifetime.

The methane target will be measured against a baseline leak rate, which is currently estimated at range from 0.01 percent to 0.8 percent across the company’s oil and gas assets, it said. read more

Sep. 17, 2018 3:45 PM ET| By Carl Surran, SA News Editor

CAIRO, Sept 15 (Reuters) – Egypt has signed a deep-water oil and gas exploration deal with Royal Dutch Shell and Malaysia’s Petronas worth around $1 billion for 8 wells in the country’s West Nile Delta, the petroleum ministry said on Saturday.

The country also signed a second $10 million deal with Rockhopper, Kuwait Energy (IPO-KEC.L) and Canada’s Dover Corporation for exploration in the Western Desert, a ministry statement said.

Egypt aims to be a regional hub for the trade of liquefied natural gas (LNG) after a string of major discoveries in recent years including Zohr, which holds an estimated 30 trillion cubic feet of gas. read more

The Canadian Press:

VANCOUVER — Shell Canada Ltd. has given up its offshore exploration rights, clearing the way for the creation of Canada’s first protected marine area under the Canada Wildlife Act.

The company voluntarily released permits for about 50,000 square kilometres in an area off British Columbia’s coast to allow for the creation of the Scott Islands marine National Wildlife Area.

The company’s rights cover an area more than one-and-a-half times the size of Vancouver Island, which is hard to value, said Shell Canada president Michael Crothers, at a news conference on Thursday. read more

By Michael Ruffolo in News | September 13th 2018

The Canadian affiliate of one of the world’s largest oil companies, Royal Dutch Shell, is releasing 50,000 square kilometres of offshore exploration permits off the coast of British Columbia and promoting conservation.

Shell Canada president Michael Crothers made the announcement in Vancouver on Thursday alongside Fisheries, Oceans, and the Canadian Coast Guard Minister Jonathan Wilkinson, who said the area would become part of the new Scott Islands marine National Wildlife Area. read more

• Author: Nick Coleman
• Editor: Jonathan Fox
• Topic: Oil and Gas 2018 Outlook: EMEA
• 11 Sep 2018 | 11:49 UTC: London

• Added Brexit costs “completely” wrong direction
• Uncertainty puts industry at risk: OGUK
• Shell UK head hails “revitalized” strategy

London — Shell on Tuesday joined calls by the oil and natural gas industry for the UK to avoid a “no-deal” Brexit, with Shell country head Sinead Lynch warning that added costs in the form of barriers to trade and movement of talent would be “completely the wrong direction” to go in.

Industry group Oil & Gas UK warned Tuesday that uncertainty surrounding UK withdrawal from the EU, due on March 29, 2019, risked damaging confidence and impeding the industry’s recovery. read more

Ben Marlow, executive business editor: 9 SEPTEMBER 2018 • 8:39PM

Like a pair of mysterious soothsayers, Maarten Wetselaar and John Abbott are peering into the future. The world they see is almost unrecognisable from the one we inhabit today, and yet it is only just around the corner.

In the west, the petrol car has become obsolete. Lorries are powered by liquid natural gas. Freight liners criss-cross the oceans fuelled by hydrogen. Solar and wind provide the energy to our homes.

And the petrol station has been reimagined as an unlikely retail hotspot where people routinely gather to do their food shopping, pick up parcels, and sip artisan coffee. A convoy of vehicles are being rebooted at one of many charging points on the forecourt. read more

By Paul Burkhardt: 5 September 2018, 00:01 BST: Updated on 5 September 2018, 14:31 BST

• Rigs drilling in Africa’s waters have hit a two-year high

• Companies including Exxon, Shell, BP have accumulated acreages

Africa is entering the oil-hunt spotlight as drillers, flush with cash after crude’s recovery, are turning their attention back to the continent’s potentially vast resources.

The world’s biggest companies from Exxon Mobil Corp. to Royal Dutch Shell Plc and BP Plc are setting up camp across Africa. Armed with stronger balance sheets and higher crude prices the industry is on track to double drilling in African waters this year. Rising natural gas demand is adding to the attraction. read more

Gaurav Sharma: Contributor

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

‘A museum dedicated to science education should not be helping promote any company that is actively exacerbating this planetary emergency until they show a serious proactive drive to switch to renewables’

• Josh Gabbatiss Science Correspondent
• @josh_gabbatiss

Tens of thousands of people have urged the Manchester Museum of Science and Industry to drop Shell as a sponsor from an upcoming event.

The announcement that the museum’s new exhibition, “Electricity: the spark of life”, would be supported by the oil giant sparked controversy among local groups.

Specifically, they have highlighted the role that fossil fuels play in driving global climate change and the role that oil companies have played in the phenomenon.

A petition with over 57,000 signatures has been handed to the museum as the Manchester Science Festival, which includes the new exhibition. read more

Shell plans opening 1,200 retail stations in India in 10 years

Terming it as one of the “most largest expansions” ever planned by Shell, he said “each one of those stations can easily accommodate about 100 workers. Simply put, one lakh jobs will get created…”

These retail stations, in turn, will trigger several other jobs in terms of infrastructureNSE -2.22 % building to supply those stations with fuel and retail products, he said.

“The infrastructure creation for supplying fuels and lubricant products to these retail stations could easily generate thousands of jobs,” Prasad told here at an event organised by the company here. read more

Science and industry museum accused of hypocrisy for taking money from oil company read more

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

MARTIN BAILEY: 29th August 2018 09:59 GMT

Two of the major Dutch museums have just ended their collaboration with Shell, at a time of mounting protests over sponsorship by fossil fuel companies. Amsterdam’s Van Gogh Museum and the Mauritshuis in The Hague both terminated arrangements with the country’s largest oil and gas firm this summer.

A Mauritshuis spokesman says that it had a six-year partnership contract with Shell, which was due to end in July and was not renewed. Surprisingly, however, the latest annual report of the Mauritshuis states that support from Shell Nederland and two other partners is “crucial for the long-term future of the museum”. Shell has also been supporting technical research on paintings by Jan Steen, but this work is almost complete and is due to be published by the end of the year. read more

..reacting to the allegation of intimidation, Mr Bamidele Odugbesan, Media Relations Manager of Shell, denied use of force to compel the company’s host communities to sign the JIV report.

27 August 2018

The Joint Task Force (JTF) in the Niger Delta and oil major, Shell on Monday denied allegations of coercing the leadership of Aghoro 1 community in Bayelsa to sign a disputed report on oil spillage.

A disagreement in the areas impacted by an oil leak on the Trans Ramos Pipeline within Shell’s oilfield at Aghoro communities in Bayelsa has stalled the release of a Joint Investigation Visit (JIV) report of the oil spill.

Community leaders, who participated in the JIV to determine the cause of the spill reportedly refused to sign the report. read more

By atlanticenergy August 10, 2018 Green Energy

The world as we know it is not in great condition. Polar ice caps are melting and thus causing higher sea levels, temperatures are increasing, drought is on the rise, weather conditions have become very unstable and unpredictable, and there are many more changes taking place that we will get into as we go through this article.

Most people would argue that this is due to humanity’s major dependence on fossil fuels to produce energy; those being coal, oil, natural gas, and so on. But is there really a viable solution to this? Is there a clear winner in the solar vs coal debate? We think there is but it doesn’t come without its costs.  read more

Shell aims to establish a network of hydrogen filling stations in the Netherlands and expects to roll out four stations by 2020—two in Amsterdam, one in The Hague, and one in Pesse.

Last update: August 24, 2018
Author: PetrolPlaza Correspondent Daniel Infante Tuaño

The oil giant wants to play an active role in the Dutch energy transition and is also working on establishing a network of fast charging stations for electric vehicles, reports Gasworld.

To roll out the hydrogen stations, Shell is availing of a government scheme called the Demonstration Regulation for Climate Technologies and Innovations in Transport (DKTI Transport) of the Netherlands Enterprise Agency, which offers subsidies to low emission transport solutions.

In addition, Shell’s hydrogen stations are part of the extensive hydrogen project H2Benelux, a project co-financed by the ‘Connecting Europe Facility’ of the European Union. read more

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

By Zheng Xin | China Daily | Updated: 2018-08-23 09:12

Global energy giant Royal Dutch Shell Plc has announced plans to triple the number of gas stations it has in China to 3,500 by 2025, in response to the recent lifting of restrictions on foreign investment in the sector.

“Shell is already the leading international oil retailer in China, running 1,300 sites via strategic joint ventures and two wholly owned companies, and we aspire to triple the size of our network by 2025,” said John Abbott, downstream director, Royal Dutch Shell. read more

A Shell subsidiary said it would begin remediation efforts as soon as site assessments in the Niger Delta communities impacted by the spill are completed.

A subsidiary of Royal Dutch Shell closed an oil pipeline in the Niger Delta region while investigations into a Sunday crude oil release takes place. File Photo by Tife Owolabi/EPA

Aug. 20 (UPI) — An export pipeline in the Niger Delta remained closed after a subsidiary of Royal Dutch Shell said it was responding to a release of crude oil.

The subsidiary, Shell Petroleum Development Co. of Nigeria Ltd., said a multilateral investigation unit was reviewing what led to the Sunday releasefrom its Trans Ramos oil pipeline in the Niger Delta. Though no estimated spill volume was released, by the company, 95 percent of it was already recovered from two impacted communities in the region. read more

Shell says it recovers 95% spilled oil in Bayelsa, Delta communities

August 20, 2018: Agency Report

Shell Petroleum Development Company of Nigeria Limited (SPDC) says it has recovered more than 95 per cent of spilled oil from the recent incidents in Bayelsa and Delta states.

SPDC Media Relations Manager, Bamidele Odugbesan, made this known in a statement he issued on Sunday in Port Harcourt.

Mr Odugbesan said that recoveries were made on sections of the Trans Ramos Pipeline (TRP) in Aghoro community, Bayelsa and Odimodi community, Delta.

He said that the pipeline, which remained shut-in since the incidents, supplied crude to the SPDC Joint Venture-owned Forcados Oil Terminal in western Niger Delta for export. read more

Shell oil traders trade one Caribbean paradise for another

Julia Payne: AUGUST 17, 2018

LONDON (Reuters) – Royal Dutch Shell’s (RDSa.L) oil traders in the Caribbean island of Barbados are getting ready for a tough gig – they’re being moved to the Bahamas next month.

The relocation of the oil and gas company’s trading hub for Latin America will make travel to customers in the key region easier for its employees, a company spokeswoman said.

Graphic: reut.rs/2BjNlUz

“Shell Western Supply and Trading can confirm it is relocating from Barbados to the Bahamas, effective September 2018,” the spokeswoman said. read more

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

In spite of everything hurled by the North Sea and global market conditions across half a century, and despite predictions to the contrary, Shell remains a big player on the UK Continental Shelf.

Energy Voice interviewed Shell UK upstream vice president Steve Phimister aboard the Shearwater platform.

Written by Jeremy Cresswell – 15/08/2018 6:00 am

A characteristic throughout has been a quest to lead.

Driving Shell forward is VP Upstream President Steve Phimister who, by coincidence, was born the same year as Shell’s UKCS odyssey began 50 years ago.

The super-major has lived through boom times followed by harsh periods when commodity prices were in the basement and, from the late 1990s, speculation grew as to whether such companies had a future in the North Sea. read more

Aug. 14, 2018 6:19 PM ET| By: Carl Surran, SA News Editor

Shell hails bounceback towards deepwater drilling

Head of exploration says break-even prices are now $30 a barrel

Anjli Raval, Senior Energy Correspondent AUGUST 12, 2018

Royal Dutch Shell is doubling down on drilling for oil far beneath the oceans, as the energy group eyes a cash bonanza from traditional deepwater projects despite a growing focus on new US shale investments. Andy Brown, Shell’s head of exploration and production, said the industry was seeing a “bounceback” towards deepwater… FULL FT ARTICLE read more

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

* Lori Ryerkerk to leave company at end of Aug

* To be succeeded by Robin Mooldijk, head of Americas refining

* Ryerkerk oversaw major refining overhaul

LONDON, Aug 13 (Reuters) – The head of Royal Dutch Shell’s global refining operations Lori Ryerkerk will step down at the end of the month after five years in a job where she oversaw a vast overhaul of the business, according to an internal memo seen by Reuters.

Ryerkerk will be succeeded by Robin Mooldijk, who currently serves as Vice President Manufacturing Americas, responsible for the Anglo-Dutch company’s refining and chemical plants in the United States, Canada and Argentina. read more

Austrian oil company given permission by watchdog to takeover Shell’s NZ business

JOHN ANTHONY: August 11 2018

New Zealand’s competition watchdog has given approval for an Austrian oil and gas company to buy Royal Dutch Shell’s New Zealand assets.

The acquisition will result in OMV taking ownership of Shell’s entire New Zealand portfolio, including its stake in the Maui and Pohokura gas field joint ventures with Todd Energy and the associated production, pipeline and tank assets.

The sale, worth $794 million, marks the end of Shell’s association in New Zealand after more than 100 years. read more

Bomu-Lewe Incessant Crises: What Authorities Should Know

By: Nii Poi Vikem

After the discovery of crude oil in Oloibiri, Bomu was the next place crude oil was discovered in commercial quantity in Nigeria and it was the entry port for a multinational oil giant like Shell Petroleum Development Company, SPDC into the belly of Ogoniland and Nigeria.

This strategic economic significance has made Bomu the pride of Nigeria’s economic growth, though completely denied the appurtenances derivable from the major role it played and still plays in Nigeria’s economic indices. read more

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

Aug. 5, 2018 8:37 AM ET

Summary

• Shell daily production dipped slightly in Q-2, causing a miss of EPS by 0.15 share.
• Investors were not impressed and discarded the stock in droves.
• In late May it reached an all time high stock price. It has since back-tracked about 10% and we are dipping our toes in at present levels.
• Shell has been transforming it’s business model in recent years, and may now deserve a higher multiple.
• Further, the 25 billion dollar stock buy back will tend to put upward pressure on the share prices.

Introduction

We were a little shocked at Shell’s, (RDS.A,RDS.B) decline on it’s Q-2 earnings release. Any serious review of operations could have foretold it. When you sell off $30 bn worth of assets that produce oil, you’re going to see a decline of this type. I mean seriously, we’re talking about 40K BOPD essentially on a company that produces over 3.5mm BOPD.

Perhaps large investors were wondering if the company is allocating capital in sufficient amounts to maintain and grow production. When we look we see that the company has been investing at a consistent rate to maintain production longer term. read more

Written by Allister Thomas and Chris Jaffray – 03/08/2018

Shell has been fined £60,000 after a technician was severely injured by a gas cylinder on a North Sea platform.

The incident in November 2014 took place on the Brent Delta installation when a gas cylinder unexpectedly discharged, causing projectiles to strike a worker.

Aberdeen Sheriff Court heard today that technicians were required to replace a gas cylinder within a system used to extinguish fires on November 9, 2014.

One technician rolled what he thought was an empty cylinder and took off a protective cap, however the cylinder was in fact fully charged which caused an uncontrolled release of gas and a loud bang –  resulting in the technician dropping the cylinder which caused the valve to shear, with projectiles severely injuring a second technician. read more

“Recent quarterly results have come in below our expectations,” Morgan Stanley analysts said in a note

Morgan Stanley reckons portfolios could do with fewer Royal Dutch Shell PLC (LON:RDSB) shares, reducing its rating for the oiler to ‘equal weight’ from ‘overweight’.

The downgrade follows Shell’s quarterly results, which were out last week.

“Recent quarterly results have come in below our expectations,” Morgan Stanley analysts said in a note.

“FCF and gearing are still set to improve but no longer in a differentiated manner. Dividend growth is now lagging peers, and the buyback has started but at a lower-than-expected pace. read more

By Irina Slav – Aug 01, 2018, 9:30 AM CDT

Shell is close to making the final investment decision on the expansion of its deepwater Bonga field in Nigeria, S&P Platts reports, citing a statement from Shell Nigeria Exploration and Production Co.

The expansion, which will add some 1 billion barrels of crude to Nigeria’s oil reserves, has been slowed down by a legal dispute between Shell Nigeria and its partner, the Nigerian National Petroleum Corporation, regarding the production sharing contract for the Bonga field. read more

Pedro Fonseca: JULY 31, 2018

RIO DE JANEIRO (Reuters) – Brazil’s three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America’s largest oil producer.

The firms targeted by the probe are Petrobras Distribuidora SA (BRDT3.SA), a subsidiary of state oil company Petroleo Brasileiro SA (PETR4.SA); Ipiranga, a unit of Ultrapar Participações SA (UGPA3.SA); and Raízen, a Cosan SA (CSAN3.SA) and Royal Dutch Shell Plc (RDSa.AS) joint venture. read more

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

Shell, which has its headquarters in the Netherlands, does business in more than 70 countries:TORU HANAI/REUTERS

Emily Gosden, Energy Editor: 27 July 2018

Royal Dutch Shell launched a long-awaited $25 billion share buyback plan as it sought to shrug off disappointing second-quarter results.

The Anglo-Dutch energy group insisted it had had a “very good quarter” as profits excluding exceptional items rose to $4.7 billion, up from $3.6 billion a year earlier, aided by higher oil and gas prices.

The result was significantly below analysts’ expectations of almost $6 billion, however, because of factors including foreign exchange effects and rising operating costs. read more

By Liam Denning: 26 July 2018, 18:16 BST

You oil investors are one tough crowd. I mean, what do you want, really?

On Thursday morning in Europe, Royal Dutch Shell Plc finally came around and gave the masses what they had been shouting for: a $25 billion buyback program. The masses promptly dumped the stock. On Thursday morning in America, ConocoPhillips announced a slew of forecast-beating results, having recently boosted its own buyback program by $1 billion. But it also said it was raising its full-year investment budget by $500 million. Pearls were duly clutched and “sell” buttons pushed (the stock had moved into slightly positive territory as of writing this). read more

• Oil giant Royal Dutch Shell posted a 30 percent rise in net profit in the second quarter of 2018.
• Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $4.69 billion.
• Shell announced a $25 billion share buyback program.

Holly Ellyatt | @HollyEllyatt: 26 July 2018

Oil giant Royal Dutch Shell posted a 30 percent increase in net profit in the second quarter of 2018 and announced a $25 billion share buyback program.

Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in at $4.69 billion, up from $3.6 billion seen in the same quarter a year ago.

The earnings fell short of an analyst consensus of $5.967 billion, however, Reuters reported.

The company said the earnings “reflected increased contributions from Integrated Gas and Upstream, partly offset by lower earnings in Downstream.” read more

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