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Shell and Saudi Aramco in a Tug-of-War for Pavilion Energy

Posted by John Donovan: 5 March 24

Oh, what do we have here? The corporate gladiators, Shell and Saudi Aramco are sharpening their swords, ready to dive into the lavish feast of Pavilion Energy’s assets, served by Singapore’s very own Temasek. It’s a spectacle worthy of the Colosseum, as these energy behemoths get shortlisted to gobble up most of what Pavilion Energy has on offer, minus the gas pipeline business because, let’s be real, that’s just the side dish no one’s really eyeing at this banquet. read more

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Shell could start profit slowdown as Labour pushes to expand windfall tax

CITYA.M.

Shell could start profit slowdown as Labour pushes to expand windfall tax

: MONDAY 24 OCTOBER 2022 4:13 PM

The historic profit run from oil and gas titans is expected to slow down this week, when Shell unveils its latest results.

Producers are grappling with both inflation and suppressed demand amid growing expectations of a global recession.

Shell has warned ahead of its third quarter update this week that earnings will likely be dented by a sharp hike in refining costs and weaker natural gas trading.

In an update earlier this month, it revealed indicative refining margins dropped to $15 a barrel compared with $28 a barrel in the previous three months of trading.

The energy giant will update investors on its performance this Thursday, the first in a wave of results from oil and gas giants over the coming days.

Rivals BP, Chevron, Exxon Mobil, Equinor and Saudi Aramco will also announce their results over the coming days – offering markets a flurry of data on the latest conditions in the fossil fuel sector. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Forbes Global 2000: Shell Becomes Europe’s Top Public Company As Oil Price Boom Drives Profits

Forbes

Forbes Global 2000: Shell Becomes Europe’s Top Public Company As Oil Price Boom Drives Profits

David Dawkins: Forbes Staff: MAY 12, 2022

Petrol and energy giant Royal Dutch Shell has reclaimed its spot as Europe’s top-ranked public company on the Forbes Global 2000 ranking, pushing German car giant Volkswagen AG back down into second place.

The London-based Anglo-Dutch giant, with its distinctive yellow and red branding seen across Europe’s gasoline forecourts, is valued at $211 billion this year, a rise of nearly 40% over the year and over double the value of second-placed Volkswagen AG.

In May, Shell reported its highest ever quarterly profits for the first three months of 2022 at $9.13 billion, following a sharp rise in oil prices further heightened by Russia’s invasion of Ukraine in February and the punitive sanction regime placed on Russia thereafter. Having fallen to 324 on the list of 2000 listed companies last year, Shell has shaken off its pandemic blues and returned to the 16th spot globally in 2022. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Outlook darkens for North Sea oil and gas industry

Outlook darkens for North Sea oil and gas industry

TWO oil and gas majors provided votes of confidence in the North Sea last week but these may only provide cold comfort as the outlook for the sector gets ever bleaker.

On Tuesday BP underlined its belief in the exploration potential of the North Sea as it announced that it had returned to profit in the third quarter.

The giant included its successful bid for new North Sea exploration licences in a list of highlights for the three months to 30 September. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Open Letter from the CEOs of the Oil and Gas Climate Initiative

News provided by

Oil and Gas Climate Initiative

May 26, 2020, 08:03 ET

Focusing on what matters

LONDON, May 26, 2020 /CNW/ — The unprecedented challenges the world is facing force us all to sharpen our focus on what really matters. Our immediate priority, as CEOs, is to do everything we can so that our people and communities are safe and capable of confronting the pandemic effectively. We will work to help the world recover from the economic shock of this crisis that has undoubtedly hit some more than others yet impacts us all. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Reuters: Saudi Arabia buys stakes in four big European oil firms: source

Saudi Arabia buys stakes in four big European oil firms: source

Ron Bousso: APRIL 9, 2020

LONDON (Reuters) – Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has accumulated stakes in four major European oil companies, a source familiar with the transaction said.

The four are Royal Dutch Shell, France’s Total, Norway’s Equinor and Italy’s Eni, the source said, confirming a Wall Street Journal report.

The source did not confirm the combined value of the stakes, which the WSJ reported were worth $1 billion.

“The Saudis have been buying every day almost for the past few weeks, specially since the share prices of many of these companies were in correction territory and dividend yields were very high,” the source familiar with the transactions said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell joins other oil giants in slashing spending after coronavirus and ‘oil war’ between Russia and Saudi Arabia causes prices to collapse

Royal Dutch Shell has announced it is planning to save at least $8billion in the coming year following the huge fall in oil prices.

The world’s ninth-largest company by revenue says capital expenditures are to be scaled back by $5billion. At the same time, underlying operating costs will be cut by at least $3billion to help cope with the impact of the coronavirus.

It still plans to go ahead with their $10billion divestment programme but have cancelled the next tranche of their share buyback programme. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Telegraph: Could Big Oil’s well of cash finally dry up?

ROBIN PAGNAMENTA: 19 MARCH 2020

It is the biggest company in the FTSE 100 and its largest dividend payer – a cornerstone investment for millions of pension funds around the world.

Royal Dutch Shell has not cut dividend payments to shareholders for more than 70 years but a precipitous plunge in oil prices this month has left chief executive Ben van Beurden facing an agonising choice.

The oil price war launched by Russia and Saudi Arabia on March 9 and fuelled by a collapse in demand linked to coronavirus will damage the entire industry – but some producers are far better positioned than others to survive a lengthy downturn. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: Oil CEOs at Davos debate tougher CO2 cuts as pressure mounts

The bosses of some of the world’s biggest oil companies discussed adopting much more ambitious carbon targets at a closed-door meeting in Davos, a sign of how much pressure they’re under from activists and investors to address climate change.

The meeting, part of a World Economic Forum dominated by climate issues, included a debate on widening the industry’s target to include reductions in emissions from the fuels they sell, not just the greenhouse gases produced by their own operations, people familiar with the matter said on Wednesday. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Andrew Gould

Extracts from a MySanAntonio.com article: “Oxy shores up board with former Schlumberger CEO”

Occidental Petroleum added to its board of directors Thursday with the appointment of a former chief executive of Schlumberger… Andrew Gould, who previously headed the world’s largest oilfield services firm until 2011…

As for Gould’s background, he led Schlumberger as the chairman and CEO from 2003 to 2011. He then chaired the United Kingdom’s BG Group until 2016 when it was bought by Royal Dutch Shell. The Anadarko sale was the biggest energy deal in the world since the BG deal. Gould is currently a board member with the state-owned energy giant Saudi Aramco. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

THE TIMES: Saudis buy Shell stake in refinery

Saudi Arabia’s state oil group has agreed to pay almost £500 million to Royal Dutch Shell to buy it out of an oil refinery joint venture on the Gulf.

Saudi Aramco will buy Shell’s 50 per cent stake in the plant, ending a 30-year joint venture, as it expands its refining and petrochemical operations in a drive to become the world’s largest energy company.

Saudi Aramco is the world’s biggest oil company, pumping more than 10 million barrels per day last year. The acquisition, for $631 million, is due to complete later this year. read more

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ROYAL DUTCH SHELL NEWS 12 NOVEMBER 2018

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Royal Dutch Shell News 5 Sept 2018

By Vanand Meliksetian – Sep 04, 2018, 3:00 PM CDT

Royal Dutch Shell has invested significantly in LNG with its takeover of British Gas in 2016. The acquisition of BG for more than $50 billion provided the Dutch company with a head start during a period when prices were low. Shell’s capacity in the LNG industry is nearly double compared to its nearest competitor. The company’s value currently is $53 billion less than Exxon’s, the largest oil and gas company in the world. Before the deal, the difference was more than $150 billion. FULL ARTICLE read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell says fully committed to Iraq gas venture, plans ‘massive’ expansion

DUBAI (Reuters) – Royal Dutch Shell (RDSa.L) is fully committed to its gas joint venture in Iraq, after the energy major exited its oil assets in the OPEC country, and plans to boost its gas output there to 1.4 billion cubic feet (bcf) a day by 2020, a senior executive said. Iraq’s gas development plans have long focused on Basra Gas Co (BGC), a $17 billion, 25-year project in which Iraq has 51 percent, Shell 44 percent and Japan’s Mitsubishi Corp (8058.T) 5 percent. The project was designed to aggregate gas from fields in the south including West Qurna 1, operated by Exxon Mobil Corp (XOM.N); Zubair, operated by Italy’s Eni (ENI.MI); and Rumaila, developed by BP (BP.L). FULL ARTICLE read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Saudi Aramco signs preliminary gas deal with Shell

FILE PHOTO: Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed/File Photo

Reuters Staff: 8 MARCH 2018

LONDON/DUBAI (Reuters) – Saudi Aramco signed a memorandum of understanding (MoU) on Thursday to pursue international gas opportunities with Royal Dutch Shell (RDSa.L). That would include developments of gas upstream and liquefaction projects. The MoU signed in London between the two energy companies was during the visit of Saudi Crown Prince Mohammed bin Salman to the United Kingdom. Reporting by Dmitry Zhdannikov and Rania El Gamal; Editing by Mark Potter SOURCE read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Chemical plant at Norco stirred controversy decades before Clean Air Act allegations

Shell’s Norco Refinery

When Iris Carter heard that the Shell Chemical plant near her childhood home in Norco had been ordered to spend $10 million on pollution control equipment to resolve decades of allegations that the plant was violating the federal Clean Air Act, she felt a variety of emotions. She was frustrated, she said, and angry. But she wasn’t surprised. As Carter sees it, this should have happened more than 20 years ago, when she and her family first helped start a campaign to abandon an area she said had become too polluted to live in. “The stink in the air was so strong it knocked you back,” Carter, now 66, remembers. “It was terrible.” FULL ARTICLE read more

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