|Royal Dutch Shell CFO Simon Henry Sells Shares at Premium
Dow Jones News
Shell A (LSE:RDSA)
Intraday Stock Chart
Today : Monday 5 December 2016
Click Here for more Shell A Charts.
LONDON--Royal Dutch Shell PLC () said Monday its Chief Finance Officer Simon Henry has sold 50,000 shares at 21.63 pounds ($26.54) each, a 0.5% premium to Friday's closing price of GBP21.52.
Shares at 1225 GMT up or 0.3% at GBP21.58 valuing the company at GBP175.17 billion.
Write to Olga Cotaga at firstname.lastname@example.org, Twitter @OlgaCotaga
(END) Dow Jones Newswires
December 05, 2016 07:41 ET (12:41 GMT)|
|Oil prices rose for a third straight day on Friday, after OPEC's agreement to cut output for the first time in eight years.
U.S. crude futures rose 62 cents, or 1.21%, to $51.62 a barrel on the New York Mercantile Exchange, its highest settlement since July, 2015. Brent, the global benchmark, gained 52 cents, or 0.96%, to $54.46 on London's ICE Futures Exchange.
Crude prices have surged since the Organization of the Petroleum Exporting Countries agreed to pull back their output by 1.2 million barrels a day. "At this point I don't think too many people are willing to stand in front of it," said Ric Navy, senior vice president for energy futures at RJ O'Brien & Associates.
Oil's advances stalled overnight, however, with U.S. crude futures pulling back to $50.18 as investors took profits following the dramatic rally. But crude prices resumed their march higher later, as the market looked set to hold on to most of its recent gains.
U.S. crude futures gained 12.2% this week -- the largest weekly percentage gain since 2009. But market participants say crude's rally could be running out of steam.
"I think it's getting close to the end of its rope," said Mark Waggoner, president of Excel Futures. "I see it getting tired and falling back. I just don't see this as a game changer when they're pumping as much as they are."
The deal to cut production is expected to take effect in January, and participating oil-producing nations will reassess in six months with an option to extend the accord for another six months.
If the deal is fully observed, it could shift the market into a deficit as early as the first half of next year. Brent prices could move higher to average between $55 and $60 a barrel in 2017, said Simon Flowers, chief analyst at consultancy Wood Mackenzie. "However, this does depend on OPEC being very careful to meet the terms of the agreement," he cautioned.
Skepticism over members' compliance with production quotas remains, as members have cheated their quotas in the past by underreporting or producing beyond their allotted limits.
Moreover, the OPEC supply action could cause some oil producers to lose market share as oil producers who aren't participating in the deal ramp up their output.
"It is a dangerous game that Saudi Arabia is playing," said Michael Cohen, the head of energy commodities research at Barclays. "Should prices rise too high then the amount of shale oil that comes into the market will eventually start to cut into their market share."
The U.S. put three more oil rigs back to work in the latest week, bringing total active rigs to 477, the most since late January, according to Baker Hughes.
Gasoline futures gained 1.21 cents, or 0.78%, to $1.5591 a gallon. Diesel futures rose 1.02 cents, or 0.62%, to $1.6581 a gallon.
--Jenny W. Hsu and Dan Molinski contributed to this article.
Write to Alison Sider at email@example.com and Neanda Salvaterra at firstname.lastname@example.org
(END) Dow Jones Newswires
December 02, 2016 15:50 ET (20:50 GMT)|
|thanks for the info grumpies and guys
enjoy your weekend|
|Royal Dutch Shell plc Third Quarter 2016 Euro and GBP Equivalent Dividend Payments
What is wrong with just providing the link, along with a comment if desired. Why does the entire news release itself have to be reproduced on here?|
Royal Dutch Shell plc Third Quarter 2016 Euro and GBP Equivalent Dividend Payments
News provided by
Royal Dutch Shell plc
Dec 02, 2016, 12:31 ET
Share this article
THE HAGUE, Netherlands, December 2, 2016 /PRNewswire/ --
The Board of Royal Dutch Shell plc ("RDS") (NYSE: RDS.A) (NYSE: RDS.B) today announced the pounds sterling and euro equivalent dividend payments in respect of the third quarter 2016 interim dividend, which was announced on November 1, 2016 at US$0.47 per A ordinary share ("A Share") and B ordinary share ("B Share").
Dividends on A Shares will be paid, by default, in euro at the rate of €0.4413 per A Share. Holders of A Shares who have validly submitted pounds sterling currency elections by November 25, 2016 will be entitled to a dividend of 37.16p per A Share.
Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 37.16p per B Share. Holders of B Shares who have validly submitted euro currency elections by November 25, 2016 will be entitled to a dividend of €0.4413 per B Share.
This dividend will be payable on December 16, 2016 to those members whose names were on the Register of Members on November 11, 2016.
Taxation - cash dividend
Cash dividends on A Shares will be subject to the deduction of Dutch dividend withholding tax at the rate of 15%, which may be reduced in certain circumstances. Based on a policy statement issued by the Dutch Ministry of Finance on April 29, 2016 (which will be formalized in law), and depending on their particular circumstances, non-Dutch shareholders may be entitled to a full or partial refund of Dutch dividend withholding tax.
Furthermore, in April 2016, there were changes to the UK taxation of dividends. The dividend tax credit has been abolished, and a new tax free dividend allowance of £5,000 introduced. Dividend income in excess of the allowance will be taxable at the following rates: 7.5% within the basic rate band; 32.5% within the higher rate band; and 38.1% on dividend income taxable at the additional rate.
If you are uncertain as to the tax treatment of any dividends you should consult your own tax advisor.|
the grumpy old men
|Royal Dutch Shell PLC (RDSA) said it was reducing feeds and preparing to shut down a catalytic reforming unit at its Deer Park refinery near Houston so it can make a repair.
In a statement to the Texas Commission on Environmental Quality, the refinery said a leaky valve sprung Wednesday in its catalytic reforming unit 3, causing emissions that continued into Thursday.
"Pressure and feed are being reduced to the unit in order to minimize emissions and prepare for unit shutdown to repair or replace valve," it said.
Shell Deer Park is on the Houston Ship Channel, 20 miles east of downtown Houston. The refinery has a crude-oil capacity of about 340,000 barrels a day.
Write to Dan Molinski at email@example.com
(END) Dow Jones Newswires
December 01, 2016 23:26 ET (04:26 GMT)|
|Pounds sterling and euro equivalents announcement date December 2, 2016
December 16, 2016|
|The OPEC saga is still going on an I thought this would be a good chance to check the levels in the Co.
As you can see on the 4HR the chart is pretty bullish an may test the prev. value area of 2075 after breaking through the 2039 resistance level. Before reaching that target there is a downward trendline from the weekly chart that may cause some problems.
If the deal collapses then the supports of 1956.17 and 1929.80 will be in focus.
|broker update from GMP FirstEnergy Update:
|No Drop In Demand For Oil Over Next Decade, Says OPEC
Lisa Smith -
November 26, 2016
The world is going to guzzle even more oil, according to the latest five-year market outlook from the Organisation of Petroleum Exporting Countries (OPEC).
This is a U-turn from last year’s report which bemoaned a drop in demand.
OPEC reckons that businesses and consumers will want an extra million barrels a day by 2020, pushing demand up to 33.7 million barrels a day.
OPEC supplies around a third of the world’s oil. The organisation is a trade body for countries such as the Gulf States, African oil producers and others around the world, such as Venezuela.
The key oil big producers of the US and Russia are not represented by OPEC.
Modest increase in output
The increase in demand is modest – only 300,000 or so barrels a day than OPEC is pumping out of the ground today.
And the report predicts no growth until at least 2021.
OPEC refused to cut production as the price of oil slumped from more than $100 a barrel two years ago to around $48 a barrel today.
The move has triggered a glut, with oil stored in tankers taken out of mothballs as OPEC tried to muscle shale oil in the US and Canada out of the market.
OPEC also reports that demand for oil is expected to reach a peak in 2030 at 6.73 million barrels a day – well up from the 2015 forecast of 5.61 million barrels a day.
Demand to peak before supply
The research also predicts the OPEC share of the market will increase over the next decade as shale oil becomes too expensive to compete and drops out of contention.
The report also expects the price of oil to rise to around $60 a barrel by the end of 2020
However producer BP reckons demand will peak before supply due to efforts to bring more nuclear power online and an increase in supplies of natural gas and renewable energy.
“While the recent oil market environment has been one of oversupply, it is vital that the industry ensures that a lack of investments today does not lead to a shortage of supply in the future,” said OPEC Secretary-General Mohammed Barkindo.|
the grumpy old men
|Emily Gosden, Energy Editor
19 November 2016 • 7:36pm
Royal Dutch Shell is facing a High Court battle over alleged environmental damage from its oil pipelines in Nigeria, in a test case that could open the floodgates to more multinationals being sued in London courts.
The oil giant and its subsidiary, the Shell Petroleum Development Company of Nigeria (SPDC), are both being sued by two Nigerian communities, who are seeking about £100m in compensation after suffering repeated oil spills they claim came from SPDC pipelines in the Niger Delta.
A four-day hearing this week is due to consider whether the claims, brought by law firm Leigh Day on behalf of the Bille and Ogale communities, can be heard in the UK, where Royal Dutch Shell is incorporated.
The most addictive game of the year! The most addictive game of the year! Forge Of Empires
Finally You Can Track Your Car Using Your Smartphone! Finally You Can Track Your Car Using Your Smartphone! SMART DEVICE TRENDS
inRead invented by Teads
Shell has long faced criticism over its record in the Niger Delta, which has been ravaged by oil spills. The Anglo-Dutch energy giant has blamed sabotage and theft for much of the damage.
A Shell worker in Nigeria
A Shell worker in Nigeria Credit: AP
Two key points of dispute in this week’s hearing centre on what responsibility Royal Dutch Shell has for the activities of its subsidiaries, and whether the affected communities could get access to justice in Nigeria.
Leigh Day argues that Royal Dutch Shell exercises substantial control over SPDC, and has a duty to ensure that its operations do not result in pollution. It also suggests the Nigerian legal system is too fraught with difficulties to deliver justice.
But Shell counters that “allegations concerning Nigerian plaintiffs in dispute with a Nigerian company, over issues which took place in Nigeria, should be heard in Nigeria”.
It argues that Royal Dutch Shell is “an Anglo-Dutch-domiciled holding company without any employees” and a separate legal entity that should not be held liable for all the activities of more than 1,000 subsidiary companies worldwide.
Creeks and vegetations devastated as a result of spills in the Niger Delta
Creeks and vegetations devastated as a result of spills in the Niger Delta Credit: AFP
It is understood Shell will claim that allowing the Nigerians’ case against Royal Dutch Shell to proceed in the UK will open the floodgates to a wave of litigation against it and other multinationals. It is also expected to argue that any ruling that justice cannot be done in Nigeria risks being a damaging colonialist judgment on the country’s legal system.
The court could take several months to issue its verdict.
If it rules that the claims can proceed in London, the case itself would then test whether Shell can be held responsible for spills caused by sabotage to its pipelines, rather than by its own operational mistakes.
Leigh Day is arguing that Shell should be liable for failing to adequately protect its pipelines to prevent criminal damage. Daniel Leader, partner at the law firm, said: “It is clear to the claimants that Royal Dutch Shell is ultimately responsible for failing to ensure that its Nigerian subsidiary operates without causing environmental devastation.”
A spokesman for SPDC said: “Both Bille and Ogale are areas heavily impacted by crude oil theft, pipeline sabotage and illegal refining which remain the main sources of pollution across the Niger Delta.
“We are contesting the jurisdiction of the English court over these claims.”
Follow Telegraph Business|
|Global oil demand won't stop growing before 2040 despite pledges made at the Paris climate change summit last year to cap greenhouse-gas emissions, the head of the International Energy Agency said.
IEA Executive Director Fatih Birol's comments have added to a debate over when oil consumption—which has steadily grown for decades—will begin a sustained decline, a change known as peak demand. Royal Dutch Shell PLC's Chief Financial Officer Simon Henry caused a stir earlier this month when he said the company believes demand for oil could stop growing within the next two decades and as soon as five years.
Mr. Birol said demand will keep rising for longer because there are currently scant alternatives to oil for road freight, aviation and petrochemicals, despite increasing investment in renewable energy.
Even efficiency gains in petrol engines and an increase in the number of electric vehicles on the road won't be enough to halt a rise in oil demand, he added.
"The era of fossil fuels appears to be far from being over," Mr. Birol said.
Mr. Birol's remarks were made as the IEA publishes its annual report, forecasting global energy supply and demand to 2040.
Oil companies have started to look at a future in which consumer demand for their core product could stop growing due to climate policies and efficiency gains.
"We've long been of the opinion that demand will peak before supply," Mr. Henry of Shell told analysts this month. "And that peak may be somewhere between five and 15 years hence and it will be driven by efficiency and substitution."
Saudi Arabia, the world's largest exporter of crude oil, has begun preparing for a day when oil is no longer the dominant fuel. The kingdom is planning to publicly list a small piece of its giant state-run petroleum company, Saudi Arabia Oil Co., and use the money to invest in developing its economy away from crude.
However, Saudi Arabia hasn't put an estimate on the timing of peak demand.
Oil demand could peak by 2020 if a more stringent approach on climate change is taken, the IEA said, something that is looking increasingly unlikely after the election of Donald Trump in the U.S. The president-elect has called climate change a hoax and has said he would withdraw from the Paris deal.
Government officials from dozens of countries are working this month in Morocco to implement curbs on emissions agreed last year in Paris. Even if successful, that effort may not be enough to quickly slow down crude-oil consumption, Mr. Birol said.
"Today 81% of global energy comes from fossil fuels and in 2040, even if all the pledges are implemented, this share will go down to 74%.
Under the IEA's central scenario in its World Energy Outlook to 2040, global oil demand is set to grow almost 12% to 103.5 million barrels a day in 2040, compared with 92.5 million barrels a day in 2015.
Oil demand is set to fall more quickly in the Organization for Economic Cooperation and Development, a group of countries with advanced industrial economies, but this reduction is more than offset by increases elsewhere. India is set to become the leading source of growth, while China will overtake the U.S. to become the single largest consuming country in the early 2030s, the IEA said in the report.
Write to Selina Williams at firstname.lastname@example.org
(END) Dow Jones Newswires
November 16, 2016 04:25 ET (09:25 GMT)|
|Shell vs BP: which oil giant should you buy?
Experts are split over which stock has the best investment case Credit: Dave Thompson/PA Wire
14 November 2016 • 8:18am
In the hunt for income‑producing stocks, BP and Royal Dutch Shell are two obvious candidates.
Both have so far kept dividend promises made before the oil price crash, leading to hefty yields: 7pc for BP and 6.7pc at Shell. But which firm is better placed to sustain such attractive dividends?
At first glance, it can look like splitting hairs. Each is prioritising dividend payments, although there is little chance of dividend growth.
Stay alert, Trump shock may shake Asia Stay alert, Trump shock may shake Asia Nikkei Asian Review
Here's the REAL Reason Why Donald Trump is Winning Here's the REAL Reason Why Donald Trump is Winning Equedia
Both have taken significant action to cut costs and sell assets in response to the lower oil price.
They are also evenly matched on dividend cover, which is the ratio of a company's net profit to the amount promised in dividend payments.
In other words, it's a measure of a company's ability to pay a dividend from profits alone.
According to the latest figures, for 2016, Shell’s dividend cover is 0.5 and BP’s is 0.4, meaning neither is paying its dividend purely out of profit. Both have a forecast of 1 for next year, according to broker AJ Bell.
But there are key differences: Shell spent £40bn to buy BG Group, a rival firm, earlier this year, while the financial cost of the Deepwater Horizon accident was disastrous for BP.
Liz Dhillon, an analyst at investment manager Quilter Cheviot, prefers Shell.
She said: “I was positive on Shell’s takeover of BG. It has effectively bought future reserves, which all big companies are struggling to replace. I think it has sufficient flexibility in terms of costs and asset sales to maintain the dividend.”
Ms Dhillon said Shell’s “dividend first” policy might have to change if the oil price performed poorly, but “in a reasonably positive scenario I think the dividend is safe”.
She added: “I don’t dislike BP, and again don’t see much short-term threat to the dividend. My longer-term concerns are its focus on higher-risk areas such as Russia and the lack of growth in new exploration. It will need to spend more.”
BP also sold out of “an awful lot of potential growth” to meet the cost of the Deepwater Horizon disaster, Ms Dhillon said.
Eric Moore, manager of the Miton Income fund, holds both firms in the top 10 of his portfolio. He prefers BP, but said the yield figures for both companies implied that the market didn’t think either was sustainable.
“Generally, things that yield more than 6pc don’t do so for long,” he said.
“They are both reliant on the idea that oil goes back to $60 by the end of the decade. If you want to hang your hat on those yields, you can’t get away from that.”
His preference for BP stems from the timing of cost cutting and investment by each firm.
How to buy shares online Play! 02:17
“Shell spoke of a $70‑$110 range and kept spending assuming $100 oil. It has belatedly been cutting costs and canning projects, but its behaviour is cyclical, investing at the top and cutting at the bottom,” he said.
Mr Moore said he would like to see Shell investing now, while there are cheap assets and less competition for new oilfields. By comparison, he said BP had been making cuts and selling assets far earlier, putting it in a better position to invest now.|
|Shell Plans to Invest $10 Billion in Brazil Over Next Five Years
Dow Jones News
Shell A (LSE:RDSA)
Intraday Stock Chart
Today : Friday 11 November 2016
Click Here for more Shell A Charts.
By Paul Kiernan
RIO DE JANEIRO -- Oil major Shell is planning to continue investing heavily in Brazil as part of a bid to double its global deep water production by the early 2020s.
Shell plans to invest $10 billion in the South American nation over the next five years, Wael Sawan, the company's executive vice president for deep water, said in an interview this week. That would come on top of the more than $30 billion in capital the company says it has deployed in Brazil, where it operates 5,500 energy stations and acquired a large number of oil-and-gas assets earlier this year via its takeover of BG Group PLC.
"We are by far the largest foreign investor," Mr. Sawan said. "Every single year we will be investing around $2 billion."
Foreign oil firms have been eyeing Brazil with renewed interest in recent months since the impeachment of President Dilma Rousseff opened the door for an administration widely seen as more friendly to investors. The new president, Michel Temer, is pushing legislation aimed at encouraging investment in the oil sector as part of broader effort to dig Brazil out of its worst recession in at least a century.
Shell held a series of investor presentations in Brazil this week. Chief Executive Ben van Beurden met with Mr. Temer in Brasília on Thursday.
"We continue to be encouraged by what we hear, at the government level, at the ministerial level, what we read in the press, what we have in our meetings with government officials," Mr. Sawan said. "The fundamental view that foreign investment is good for the country, and specifically in the oil and gas sector...gives us confidence that we are welcome here."
Shell's roughly $50 billion acquisition of BG was driven in large part by its assets off the Brazilian coast. Mr. Sawan said these and other assets in Brazil should produce 400,000 barrels of oil per day in coming years, accounting for much of the 900,000 barrels per day of oil that Shell aims to produce in deep water starting around 2020.
Deep water output last year amounted to 450,000 barrels.
Company executives say Shell's 103-year presence in Brazil makes them comfortable with the country's often-challenging investment environment.
Shell was one of only a few foreign oil firms that bid on a massive offshore oil deposit named Libra that Brazil auctioned off in 2013, snapping up a 20% stake. That auction attracted relatively little interest from private companies because of rules obliging Brazilian state-run oil firm Petróleo Brasileiro SA to operate the oil field.
Brazil's Congress voted in October to ease restrictions on foreign investment on such oil fields, known as the pre-salt.
Write to Paul Kiernan at email@example.com
(END) Dow Jones Newswires
November 10, 2016 14:06 ET (19:06 GMT)|