Shell Share Discussion Threads

[ariane] 24/3/2018 11:26

By Oliver Griffin

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (March 24, 2018).

Royal Dutch Shell PLC (RDSB.LN) said Friday that it has agreed to sell its entire stake in the West Qurna 1 oil field, Iraq, for $406 million to Itochu Corp. (8001.TO).

The oil-and-gas company said that its Shell MP Middle East Holdings BV subsidiary will sell its entire stake in Shell Iraq BV--holder of a 19.6% stake in the West Qurna 1 oil field--to Itochu.

Itochu will also assume $144 million of debt as part of the transaction, Shell said, adding that the sale forms part of its $30 billion divestment program.

Shell said that the sale is expected to complete in the next few days, and the deal has a backdated sale date effective from Dec. 31, 2015.

Write to Oliver Griffin at [e-mail]



(END) Dow Jones Newswires

March 24, 2018 02:47 ET (06:47 GMT)

[ariane] 24/3/2018 10:37

Qatar Petroleum signs Guiding Principles to reduce methane emissions; first in Middle East

24 Mar 2018 - 13:09
Qatar Petroleum signs Guiding Principles to reduce methane emissions; first in Middle East
Saad Sherida Al-Kaabi, Qatar Petroleum President & CEO, signing the Guiding Principles document
The Peninsula

Doha: Qatar Petroleum signed a set of Guiding Principles on reducing methane emissions across the natural gas value chain stretching from production to the final consumer.

Saad Sherida Al-Kaabi, Qatar Petroleum President & CEO, signed the Guiding Principles document at a special ceremony in Doha attended by Royal Dutch Shell CEO Ben van Beurden, whose company is a signatory to the principles.

With this signing, Qatar Petroleum becomes the first Middle East national oil company to join the wider efforts by the global energy industry to ensure that natural gas continues to play a critical role in helping meet future energy demand while addressing climate change.

Since natural gas consists mainly of methane, a potent greenhouse gas, its role in the transition to a low-carbon future will be influenced by the extent to which methane emissions are reduced.

Al-Kaabi reaffirmed Qatar Petroleum’s continued commitment to the further reduction of methane emissions and said “this was part of our wider environmental responsibility enshrined in our corporate values and operational standards.”

Commenting on the signing, Al-Kaabi said “As the world’s leading liquefied natural gas producer, we have always held on to the highest of environmental standards and practices, including building the Jetty Boil-Off Gas Recovery Project, one of the largest environmental investments in the world and the biggest of its kind.”

“By signing the Guiding Principles on reducing methane emissions across the natural gas value chain, we are sending a stronger message of our continued commitment to be a responsible environmental steward by running our operations safely while minimizing environmental impacts. We take this responsibility seriously and we are pleased to join our international industry peers in adopting the guiding principles to help achieve global climate goals,” Al-Kaabi concluded.

On this occasion, Mark Radka, Head of the United Nations Environment Program’s Energy and Climate Branch, had earlier commended the Guiding Principles and said “Numerous studies have shown the importance of quickly reducing methane emissions if we’re to meet growing energy demand while achieving climate change and clean air goals. We’re delighted that Qatar Petroleum has has joined this effort as they provide an excellent framework for cutting methane emissions across the entire natural gas value chain and reporting on the reductions achieved.”

The Guiding Principles were developed in collaboration with the Columbia University, the Environmental Defense Fund, the International Energy Agency, the International Gas Union, the Oil and Gas Climate Initiative, the Climate Investment Funds, the Rocky Mountain Institute, the Sustainable Gas Institute, the Energy and Resources Institute, the University of Texas at Austin, and UN Environment.

The principles aim to continually reduce methane emissions, advance strong performance across gas value chains, improve accuracy of methane emissions data, advocate sound policies and regulations on methane emissions, and increase transparency.

Current signatories to the Guiding Principles are BP, Eni, ExxonMobil, Gazprom, Repsol, Shell, Statoil, Total and Wintershall.

[waldron] 24/3/2018 07:00

well spotted hoggy

cheers

enjoy your spring weekend





EDIT WHO THE HELL IS SHIRLEY

PREFER SHELLY

CHUCKLE

TAKE CARE

[2hoggy] 23/3/2018 23:10

usa producing 10 billion barrels a day in that article is a bit far fetched shirley!!!

[waldron] 23/3/2018 17:01

BP
462.45 -0.18%



Shell A
2,199 -0.23%



Shell B
2,248.5 -0.07%



Total
45.805 -0.97%

[fjgooner] 23/3/2018 12:17

And Shell's share price is nice and low due to the current global market issues - against rising oil prices that are set to cap off a superb Q1 with an average just above $67 for the quarter - giving us an unbelievably good time to re-invest our dividends. Hoping for sub £22.50 to still be available next week. :)

It feels like this stock is getting wound really tightly and is set to spring strongly when the global issues subside.

So I still expect to see RDSB at £26 by or immediately after 2018Q1 results and far higher than that by year end.

Grabbing the bargains while the sale is still on ... :)

Happy days.

FJ

[ariane] 23/3/2018 10:00

DIVI Payment date March 26, 2018

[waldron] 23/3/2018 08:21

BP
462 -0.28%



Shell A
2,202.5 -0.07%


Shell B
2,244 -0.27%



Total
46.01 -0.53%

[la forge] 22/3/2018 21:11

Shell wooed by British Columbia with tax cuts for LNG project
By Natalie Obiko Pearson on 3/22/2018

VANCOUVER (Bloomberg) -- British Columbia Premier John Horgan lightened the tax burden on proposed liquefied natural gas projects as his government seeks to convince Royal Dutch Shell Plc to move ahead with a C$40 billion ($31 billion) development in the western Canadian province.

The province will eliminate an extra tax ranging from 3.5% to 5% of net income that the previous government imposed on LNG projects, Horgan told reporters in Victoria on Thursday. New projects will also pay lower electricity rates in line with other industrial users, he said.

In B.C., manufacturers are exempt from sales taxes on production machinery and equipment. The new framework will extend that exemption to LNG projects, but the lost revenue will be subject to repayment once the project is up and running, according to a government statement.

Horgan said the new terms were justified because under the existing framework, not a single project was likely to get built.

“After five years of talking about one, two, three, five LNG facilities, there are zero,” Horgan said. With the changes, “we may get one.”

Shell and its partners Mitsubishi Corp., PetroChina Co. and Korea Gas Corp. are expected to make a final investment decision this year on whether to build an export facility in Kitimat in northern B.C. The project would allow Canadian gas to be shipped to Asian markets and could eventually reach 26 million tons a year in capacity.

Horgan set a Nov. 30 deadline for Shell and its partners to formally greenlight the project.

The previous Liberal government under former Premier Christy Clark had set up a C$100-billion “prosperity fund” to collect taxes from an LNG industry it expected would grow to more than 20 developments. Not a single major one has moved forward and five have been canceled since then amid a global supply glut of LNG.

[waldron] 22/3/2018 17:04

BP
463.3 -1.99%



Shell A
2,204 -0.56%



Shell B
2,250 -0.44%


Total
46.255 -0.64%

[waldron] 22/3/2018 15:33

Shell A
2,200 -0.74%


Shell B
2,240.5 -0.86%

[sarkasm] 22/3/2018 11:08

BLOOMBERG


Shell Mulls 15-Year Deal for Israeli, Cypriot Gas, Partner Says
By Yaacov Benmeleh
21 mars 2018 à 14:36 UTC+1

Gas would be sent to Shell’s LNG plant on Egyptian coast
Deal could help promote eastern Mediterranean as new gas hub

Royal Dutch Shell Plc is weighing a 15-year contract to buy natural gas for its liquefied natural gas plant in Egypt from offshore fields in Cyprus and Israel.

Shell is in talks to purchase 6 billion cubic meters of natural gas a year from the Aphrodite field, located in Cypriot waters, according to Delek Drilling LP’s annual report Wednesday. A potential deal also could include gas from the neighboring Leviathan reservoir, Israel’s largest pool, which is expected to start production by the end of 2019.

The Hague-based Shell would earmark the Israeli and Cypriot gas for its LNG plant in Idku, Egypt. The Egyptian facility has a maximum annual capacity of 12 billion cubic meters, Delek said. Representatives for Shell did not immediately respond to a request for comment.

A deal with Shell would bolster the case made by Israel and its neighbors that the eastern Mediterranean can be an energy hub. Partners in the Israeli fields Leviathan and Tamar have already signed export deals with Jordan and Egypt worth more than $25 billion.

The Tel Aviv Oil & Gas Index rose as much as 1.1 percent on the news. The gauge traded 0.8 percent higher to 1,012.13 at 2:52 p.m. local time.

Houston-based Noble Energy Inc. owns 35 percent of Aphrodite and Delek 30 percent; Shell owns the rest. The cost to develop the Aphrodite field will be $2.5 billion to $3.5 billion, though that doesn’t include the cost of building a pipeline to transport the gas, Delek said in the report.

Delek also holds a 45.3 percent stake in Leviathan, while Noble holds 39.7 percent. Ratio Oil Exploration 1992 LP owns the remainder. The two sites lie just 20 miles apart.

— With assistance by Kelly Gilblom

[sarkasm] 22/3/2018 11:07

Mubadala unit, partners to invest over $1bn in Malaysian gas field
Mubadala Petroleum says it has reached final investment decision for the Pegaga gas field development
Dr Bakheet Al Katheeri, CEO of Mubadala Petroleum.
By Staff writer
[arabianbusiness]
Thu 22 Mar 2018 01:26 PM

Mubadala Petroleum and its partners Petronas Carigali and Sarawak Shell Berhad have reached the final investment decision for the Pegaga gas field development in Block SK 320, offshore Malaysia.

The project will now proceed to the construction and installation stage, state news agency WAM reported on Wednesday.

Mubadala Petroleum is the operator of Block SK 320 with 55 percent interest, while Petronas Carigali holds 25 percent and Sarawak Shell Berhad 20 percent.

Mubadala Petroleum and its partners are expected to invest in excess of $1 billion into the development with first gas expected by third quarter of 2021.

Dr Bakheet Al Katheeri, CEO of Mubadala Petroleum, said: "The Pegaga gas project is Mubadala Petroleum’s first development in Malaysia and represents an important milestone for us to have brought Pegaga from discovery to the point of sanction with the support from Petronas and our partners. Our efforts will now be directed to working closely with our partners and contractors to deliver Pegaga into production on budget and time but most importantly safely."

Mubadala Petroleum has been present in Malaysia since 2010. The Pegaga gas field is located in the Central Luconia province, offshore Sarawak at about 108 metre water depth.

The development comprises an integrated central processing platform which is designed for gas throughput of 550 million standard cubic feet of gas per day plus condensate.

Mubadala Petroleum added that it has issued the letter of award for the engineering, procurement, construction, installation and commissioning contract for the Pegaga gas development to Sapura Fabrication, a wholly owned subsidiary of Sapura Energy Berhad.

[waldron] 22/3/2018 08:24

BP
469.75 -0.62%



Shell A
2,215 -0.07%



Shell B
2,255.5 -0.20%


Total
46.42 -0.29%

[waldron] 21/3/2018 18:05

BP
472.7 +1.90%



Shell A
2,216.5 +0.82%



Shell B
2,260 +1.37%



Total
46.555 +0.69%

[ariane] 21/3/2018 15:39

Shell's downstream business has been pivotal during the oil industry's downturn since 2014, providing a significant revenue stream as the price of crude collapsed to below $30/b.

[waldron] 21/3/2018 12:57

EJ

SO IT SEEMS

CHEERS

ENJOY YOUR DIVI PAY DAY