Shell Share Discussion Threads

[the grumpy old men] 29/3/2021 09:14

Alastair Ford

08:08 Mon 29 Mar 2021



Deltic Energy and Shell UK give green light to drilling at Pensacola

It's expected that the well will be drilled in May 2022
Deltic Energy PLC -

Deltic Energy PLC and Shell UK Ltd decided to drill the high impact Pensacola prospect on Licence P2252 in the UK Southern North Sea.

Shell and Deltic have subsequently confirmed to The Oil and Gas Authority the contingent well commitment is now firm.

The drilling of this key well on Pensacola has the potential to be transformational for Deltic and is a vital step in evaluating the highly prospective Zechstein reef play which in turn has the potential to revitalise exploration in the Southern North Sea.

Following re-interpretation of the new 3D seismic data acquired over the prospect, Deltic estimates the Pensacola prospect contains gross P50 prospective resources of 309 billion cubic feet of gas, which will rank Pensacola as one of the highest impact exploration targets to be drilled in the gas basin in recent years.

A new interpretation of three-dimensional seismic data also resulted in a much-improved view of the geological chance of success associated with the prospect.

Shell, as operator of the joint venture, expects the well to be drilled in May 2022. Deltic remains fully funded for its 30% working interest in the well.

"Confirmation of this well investment decision represents the achievement of another key milestone as we continue to execute our exploration-led strategy in the Southern North Sea with our world class partner, Shell,” said Graham Swindells, chief executive of Deltic Energy.

“The rigorous re-evaluation of the Pensacola prospect has validated and reinforced the fantastic work of our technical team and their initial view that the Pensacola prospect, and the Zechstein play as a whole, represented a significant missed opportunity in the Southern North Sea. Well planning is already underway, and we look forward to providing regular updates as we progress through the planning phase towards the commencement of operations, in addition to continuing to mature our other prospects, including Selene, towards drilling."


Proactiveinvestors

[waldron] 27/3/2021 19:57

Cheniere and Shell oil tankers change course to avoid Suez Canal as ships divert routes

Published Sat, Mar 27 202110:15 AM EDT

Lori Ann LaRocco
@loriannlarocco

Key Points

MarineTraffic data shows at least two vessels carrying U.S. liquefied natural gas from Cheniere and Shell/BG were diverted away from the Suez Canal as of Friday.

Vessel log jam stretches through the Red Sea, past the Gulf of Aden, to the Border of Yemen and Oman.

At least ten tankers and containerships are changing course as the Ever Given containership remains stranded across the canal.

[maywillow] 26/3/2021 22:31

Gazprom: Nord Stream 2 Construction To Be Completed In 2021
By Charles Kennedy - Mar 26, 2021, 3:30 PM CDT

The controversial Nord Stream 2 natural gas pipeline project will definitely be completed this year, Viktor Zubkov, chairman of the board of directors of Russia's gas giant Gazprom, said on Friday.

"The active work is underway, with quite a bit remaining to be done," Zubkov told reporters, as carried by Russian news agency TASS.

"It will surely be completed this year, definitely," Zubkov noted.

Around 90-92 percent of the work required for the project has already been done, the Gazprom executive said.

Earlier this year, Gazprom was said to have warned investors that the Nord Stream 2 project could be suspended or entirely discontinued due to extraordinary circumstances, including "political pressure."

The project, which has divided Europe and drawn opposition and criticism from the United States, has to complete pipe-laying work in Danish territorial waters. However, the United States is threatening more sanctions on entities that help Gazprom, and on the partners in the project as it continues to seek to stop the project from actually happening and being commissioned.

Germany, the end-point of the pipeline, has always looked at the Russia-led project from an economic standpoint, while the United States, several European countries, including the Baltic states, Poland, and the European Union (EU), have expressed concern about Russia using gas sales and its gas monopoly Gazprom as a political tool.

U.S. President Joe Biden "continues to believe that Nord Stream 2 is a bad deal for Europe," White House Press Secretary Jen Psaki said at a briefing at the end of January.

Over the past months, the U.S. has been broadening the sanctions against service providers and those funding vessels involved in the construction of Nord Stream 2 in a fresh attempt to prevent the project from completing. There is still a stretch of the pipeline route to be laid in the sea in Danish waters, but the U.S. is now targeting anyone helping the project's completion in any way.

By Charles Kennedy for Oilprice.com

[77howard] 26/3/2021 21:10

Pantheon Resources (PANR) about to rocket:

Talitha #A well on the Alaskan North Slope has encountered five significant oil bearing zones plus an unexpected additional prospective zone.

"The results to date and the potential economic value as discussed earlier i.e., 350-500 million barrels of recoverable oil at an estimated NPV10 of over $10/bbl (at today's oil price) represents a huge potentially multi billion dollar prize that we can test over coming weeks."

[grupo guitarlumber] 24/3/2021 11:06

ROYAL DUTCH SHELL PLC (RDSA)

Real-time Quote. Real-time Euronext Amsterdam - 03/24 07:05:00 am

16.914 EUR +0.23%

[waldron] 17/3/2021 17:19

A Milan court has found European oil companies Royal Dutch Shell PLC and Eni SpA, along with the latter's chief executive, not guilty of bribery and other charges on Wednesday in one of the energy industry's biggest corruption cases.

Shell and Eni, along with Claudio Descalzi -- who has been with Italy's state-backed Eni for 40 years and chief executive officer since 2014 -- were on trial over a $1.3 billion payment for drilling rights in Nigeria.

Write to Sarah McFarlane at [e-mail]



(END) Dow Jones Newswires

March 17, 2021 12:33 ET (16:33 GMT)

[grupo guitarlumber] 16/3/2021 09:32

Shell seeks to divest Malaysia assets

Shell is seeking to divest its non-operated interests in the amended 2011 Baram Delta enhanced oil recovery (EOR) production-sharing contract (PSC) and the SK 307 PSC, both offshore Sarawak in Malaysia.


by Damon Evans
16/03/2021, 7:13 am


Energy Voice daily newsletter

Shell is seeking to divest its non-operated interests in the amended 2011 Baram Delta enhanced oil recovery (EOR) production-sharing contract (PSC) and the SK 307 PSC, both offshore Sarawak in Malaysia.

Both the PSCs are operated by Malaysian national oil company (NOC) Petronas Carigali.

Shell said on Friday that the decision was in line with its upstream strategy to become more focused and increase its competitiveness. The Anglo-Dutch supermajor added that it “remains committed to supporting the operator in delivering safe and smooth operations until completion of a sale to a credible buyer.”

Shell added that Malaysia remains an important country for the company with its continued strong presence in the upstream, gas-to-liquids, downstream and business operations sectors. The upstream business in Malaysia has been identified as one of Shell’s nine core upstream performance units worldwide.

Petronas operates the Amended 2011 Baram Delta EOR PSC with a 60% stake on behalf of Shell, which holds the remaining 40% equity interest. The Amended 2011 Baram Delta EOR PSC was signed in 2016, to extend the life and increase the recovery factor of the Baram Delta. The (Amended) 2011 Baram Delta EOR PSC comprises the Bokor, Baronia, Fairley Baram, Bakau and Siwa oil fields and Tukau Timur and Baronia gas fields.

Petronas operates the SK307 PSC on 50% interest with Shell holding the remaining 50% equity interest. The SK307 PSC was signed in 1997 and currently has production from Baronia Barat oil field.

[piperpeter] 15/3/2021 21:23

Oil and gas production, and coming soon...

Green Hydrogen and ammonia production.



President Energy plc.

"Prepare for lift-off".

PPC

Pp.

[ariane] 15/3/2021 10:37

ROYAL DUTCH SHELL PLC FOURTH QUARTER 2020 EURO AND GBP EQUIVALENT DIVIDEND PAYMENTS
Email Print Friendly Share
March 15, 2021 03:00 ET | Source: Shell International B.V.

The Hague, March 15, 2021 - The Board of Royal Dutch Shell plc (“RDS”) today announced the pounds sterling and euro equivalent dividend payments in respect of the fourth quarter 2020 interim dividend, which was announced on February 4, 2021 at US$0.1665 per A ordinary share (“A Share”) and B ordinary share (“B Share”).

Dividends on A Shares will be paid, by default, in euros at the rate of €0.1396 per A Share. Holders of A Shares who have validly submitted US dollars or pounds sterling currency elections by March 5, 2021 will be entitled to a dividend of US$0.1665 or 11.96p per A Share, respectively.

Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 11.96p per B Share. Holders of B Shares who have validly submitted US dollars or euros currency elections by March 5, 2021 will be entitled to a dividend of US$0.1665 or €0.1396 per B Share, respectively.

Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from 10 March to 12 March 2021.

This dividend will be payable on March 29, 2021 to those members whose names were on the Register of Members on February 19, 2021.

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. Non-Dutch resident shareholders, depending on their particular circumstances, may be entitled to a full or partial refund of Dutch dividend withholding tax.

If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor.

Note
A different currency election date may apply to shareholders holding shares in a securities account with a bank or financial institution ultimately holding through Euroclear Nederland. This may also apply to other shareholders who do not hold their shares either directly on the Register of Members or in the corporate sponsored nominee arrangement. Shareholders can contact their broker, financial intermediary, bank or financial institution for the election deadline that applies.

Royal Dutch Shell plc




GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

[florenceorbis] 13/3/2021 17:25

Ariane
9 Mar '21 - 09:41 - 2860 of 2870
0 2 0
DIVI DATES






4th quarter 2020

Event Date




Pounds sterling and euro equivalents announcement date March 15, 2021

Payment date March 29, 2021

[grupo] 12/3/2021 22:41

RDS.A : Shell sees 70%-complete Pennsylvania petchem project operational in 2022
4:31 pm, Fri, Mar. 12, 2021

[waldron] 12/3/2021 19:00

Shell Nearly Doubles Profit from Oil Trading
by Bloomberg
|
Laura Hurst
|
Friday, March 12, 2021
submit to reddit
email print
Shell Nearly Doubles Profit from Oil Trading
The result is a boon to the company amid the energy transition.

(Bloomberg) -- Royal Dutch Shell Plc disclosed the profitability of its sprawling and secretive oil-trading unit for the first time, saying it almost doubled to $2.6 billion last year.

The scale of that result shows the importance of the trading division to the oil major in a year when weak demand and prices hit other parts of the business. Shell took advantage of wild price swings and a market situation that allowed it to make money by storing oil to sell later for a profit.

The company’s earnings from oil trading in 2020 beat the highest ever net income at Vitol Group, the world’s largest independent trading house, which made a record $2.3 billion in 2019. Vitol has yet to disclose 2020 results.

Shell only revealed the earnings from oil trading in its annual report, and left power, natural gas and liquefied natural gas trading out. Analysts suspect it was able to make similar profits from those businesses. The result is a boon to the company amid the energy transition as it leans on its trading prowess to push through less-profitable renewables.

Shell’s B shares were up 0.4% at 1,510.8 pence as of 1:29 p.m. in London on Friday.

“Trading operations are dismissed by the market as unsustainable” and don’t add a “serious”; premium to a company’s valuation, Sanford C. Bernstein analyst Oswald Clint said in a note. However, the disclosure shows “real value creation which will transfer over into renewable power.”

BP Benefits

Rival BP Plc made a similar disclosure last year when its Chief Executive Officer Bernard Looney revealed trading typically boosted returns by 2 percentage points a year, suggesting it makes annual profit of around $2.5 billion. The London-based major is also expanding in renewables, while scaling back its oil production.

Bernstein estimates that BP earned $2.9 billion from oil and products trading last year and a further $1 billion from gas. For Shell, it estimates LNG trading brought in an additional $2.6 billion. The Anglo-Dutch major is the world’s largest trader of the liquefied fuel.

The two European energy giants are best known for their oil and gas operations, but they’re also two of the biggest commodity traders. Between them, Shell and BP move more than 20 million barrels of oil and refined products a day, much more than the volumes they pump out of the ground.

Yet trading has always been kept a closely guarded secret, with executives typically only making mentions of the units’ performance with general platitudes.

In the second quarter of last year, when supermajors’ balance sheets were savaged by the impact of the coronavirus on oil prices, their trading units saved them from posting quarterly losses. Still, valuations for European oil companies remain in the doldrums and investors are still not rewarding them for climate strategies that remain unproven.

“Each day investors understand the rationale and the proposition more, but understandably they want to see results, they want to see execution,” BP’s Looney said Thursday in a webinar.

--With assistance from Javier Blas.

[adrian j boris] 12/3/2021 18:47

by Graeme Evans from interactive investor | 12th March 2021 14:09

Share on:

Next week is light on AGMs but there are some significant developments to vote on.




Royal Dutch Shell (LSE:RDSB) shareholders still dwelling on a first ever post-war dividend cut have good reason for taking a closer look at this week's annual report from the oil giant.

Their focus will be on remuneration and whether the pay packets of chief executive Ben van Beurden and other directors adequately reflect the 2020 dividend shortfall, and the difficult year experienced by all the company's stakeholders, including staff.

The report discloses that van Beurden's pay package dropped by 42% to €5.8 million (£5 million), one of the lowest figures in the past decade after two years in a row of cuts.

The oil giant's remuneration committee determined there should be no annual bonus on top of his base salary of €1.59 million, although the CEO did receive €3.7 million under a long-term incentive plan. This was a reduction of 49% on 2019.



The report said the decision to not pay 2020 annual bonuses “appropriately reflected” Shell’s performance, including the lower profits and asset write-downs and dividend changes after the quarterly pay-out was reduced by two-thirds in April.

The remuneration committee noted that most staff also got no 2020 bonus and will not receive a 2021 salary increase, which is the case for van Beurden.

The verdict of institutional and retail shareholders on the pay decisions won't be known until nearer the company's AGM, which usually takes place in May. Last year's meeting saw just under 5% of shareholder votes going against the remuneration report.

This week's annual report from Shell highlights the challenges facing remuneration committees of all sizes as they seek to send the right message on pay but still recognise the efforts of management and the need to keep leadership teams incentivised.

The main AGM season begins in April but the annual reports ahead of these meetings are now coming thick and fast, giving shareholders a chance to consider their proxy votes.




Tullow Oil (18 March)

The sale of assets in Equatorial Guinea as part of the company's ongoing debt-reduction effort will require the approval of shareholders.

Tullow (LSE:TLW) announced last month that it had signed separate agreements with Panoro Energy for all of its assets in Equatorial Guinea and its Dussafu asset in Gabon. Tullow chief executive Rahul Dhir said the two agreements were worth £180 million and in line with a strategy of focusing on cash-generative, high return investment opportunities.



He said the Equatorial Guinea assets had been an “important and stable part” of Tullow's non-operated West Africa producing portfolio since 2003.

Dhir added: “We will be exiting Equatorial Guinea after many years of successful investment and co-operation and we thank the government of Equatorial Guinea for their continued support.”

The transaction is dependent on the approval of Tullow's shareholders by a simple majority of votes cast at the general meeting. Tullow told investors in annual results this week that it believes an agreement on its debt refinancing can be reached in the first half of this year.

[gibbs1] 12/3/2021 10:36

BROKER RATINGS: SocGen upgrades Shell and Centrica to Buy

Fri, 12th Mar 2021 09:41
Alliance News

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:



FTSE 100



SOCGEN RAISES ROYAL DUTCH SHELL B TO 'BUY' (HOLD) - PRICE TARGET 1,710 (1,530) PENCE



UBS RAISES ROYAL DUTCH SHELL PRICE TARGET TO 1,860 (1,810) PENCE - 'BUY'



UBS RAISES ROYAL DUTCH SHELL B PRICE TARGET TO 1,860 (1,810) PENCE - 'BUY'



UBS RAISES BP PRICE TARGET TO 355 (350) PENCE - 'BUY'



SOCGEN RAISES BP PRICE TARGET TO 360 (350) PENCE - 'BUY'



















FTSE 250



SOCGEN RAISES CENTRICA TO 'BUY' ('HOLD') - TARGET 77 (54) PENCE

[gibbs1] 11/3/2021 13:14

THE GUARDIAN


Shell chief took 42% pay cut in 2020 as Covid hit profits

Oil company’s annual results show Ben van Beurden’s remuneration for the year fell to a total of £5m


Jasper Jolly
@jjpjolly
Thu 11 Mar 2021 10.21 GMT

Last modified on Thu 11 Mar 2021 10.49 GMT



Royal Dutch Shell cut the pay of its chief executive by 42% in 2020 as the oil company’s profits slumped because of the coronavirus pandemic.

Ben van Beurden’s total remuneration for 2020 was €5.8m (£5m), compared with about €10m the year before, the company revealed in its annual report on Thursday.

Shell also announced on Thursday that the former BHP chief executive Andrew Mackenzie will take over as its chairman in May. He will replace Chad Holliday, who is stepping down after six years as Shell chairman and more than 10 years as a board director.

The pandemic caused a precipitous fall in oil prices in March 2020 as traders adjusted to the prospect of a deep global recession caused by movement restrictions.


Oil companies responded by slashing spending: Shell in September said it would cut 9,000 jobs, about 10% of its global workforce, as part of a £2bn cost-reduction plan.

Shell also cut its dividend payments to shareholders for the first time since the end of the second world war. It lost almost $20bn (£14.7bn) during 2020 as it was forced to write down the value of its oil and gas assets by billions of pounds.

Van Beurden’s fixed pay was worth €2.1m, and he declined to take an annual bonus for 2020 as the value of shares slumped. However, he still received a bonus of £3.7m under his long-term incentive plan, down from £8m in 2019.

Shell’s chief financial officer, Jessica Uhl, received pay of £3.7m, including a long-term bonus of £2m.

Oil prices have recovered in the early months of 2021, in part because of dramatic production cuts but also because of hopes for the global economic recovery as vaccination programmes roll out.

Brent crude oil futures were sold for more than $65 a barrel on Thursday, above the $63 levels seen at the start of 2020, before the extent of the pandemic’s impact on the global economy became clear.

The improvement in oil prices has lifted the price of Shell’s shares, although they remain 31% below their levels at the start of 2020.

[ariane] 11/3/2021 09:35

Shell's profits slump as coronavirus hits oil and gas industry

By BFN News | 07:39 AM | Thursday 11 March, 2021




Royal Dutch Shell suffered a slump in profits in 2020 as the Covid-19 pandemic hit the global oil and gas industry.

The company reported total revenues in 2020 of $180.5 billion, down 47% on 2019's figure of $344.8 billion, a reflection of lower oil prices and reduced production because of hurricanes in the Gulf of Mexico and restrictions put in place by OPEC.

Ben van Beurden, the chief executive officer of Royal Dutch Shell, said: 'The virus also wreaked havoc with the global economy, dramatically suppressing energy demand.

Our income went from $16.4 billion in 2019 to a loss of $21.5 billion in 2020, which included non-cash impairments of $28.1 billion.' He added that in April, with oil prices falling rapidly, Shell took 'swift, decisive action to preserve cash and stay resilient'.

Mr van Beurden said: 'We rebased the dividend, lowering it by 66%.

In October, with global energy demand looking more robust, we raised the dividend by 4% and signalled our intention to have annual dividend increases, subject to Board approval.'

Despite the unprecedented challenges, Shell delivered cash flow from operating activities of $34.1 billion in 2020, compared with $42.2 billion in 2019.

The company has proposed a dividend per share of $0.65 for 2020.

The board of directors has appointed Sir Andrew Mackenzie as the company chair with effect from the 2021 AGM scheduled for May 18, 2021.

Mr Mackenzie will succeed Chad Holiday who will step down on May 18 having served as chair for six years and as a board director since September 2010.

Story provided by StockMarketWire.com

[waldron] 11/3/2021 08:01

The Annual Report and Accounts will be submitted to the Annual General
Meeting to be held on May 18, 2021.

[ariane] 10/3/2021 10:25

U.S. inventories data due later in the day.

[waldron] 09/3/2021 22:53

Oil Prices Slide On Yet Another Surprise Inventory Build

By Julianne Geiger - Mar 09, 2021, 3:43 PM CST

The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 12.792 million barrels for the week ending March 5.

Analysts had predicted an inventory build of 816,000 barrels for the week.

In the previous week, the API reported a major build in oil inventories of 7.356-million barrels after analysts had predicted a 928,000-barrel draw. But that was nothing compared to the EIA's report a day later of a 21.6 million barrel build.

It is unclear whether today’s reported stock build is part of EIA’s large build reported last week, or whether we will see another large build from the EIA tomorrow.

Oil prices slid further on Tuesday ahead of the data after a couple days of price rallying courtesy of the Houthi rebels, who claimed Sunday's attack on Saudi oil infrastructure.

At 3:19 p.m. EDT, before Tuesday's data release, WTI had fallen by $0.99 on the day (-1.52%) to $64.06. Although down for the day, WTI is still trading up more than $4 per barrel over this time last week.

The Brent crude benchmark had also fallen on the day, $0.75 at that time (-1.10%) to $67.49—also more than $4 per barrel up on the week.

U.S. oil production rose by 300,000 bpd barrels per day to 10.0 million bpd, according to the Energy Information Administration.

Enbridge tanks at Cushing as of March 5. Image courtesy of GeoSpatial Insight

The API reported another large draw in gasoline inventories of 8.499 million barrels for the week ending March 5—on top of the previous week's 9.933-million-barrel draw. Analysts had expected a 3.467-million-barrel draw for the week.

Distillate stocks saw a large decrease as well, of 4.796 million barrels for the week, after last week's 9.053-million-barrel decrease.

Cushing inventories rose by 295,000 barrels. Last week, inventories at the Cushing oil hub increased by 732,000 barrels.

Post data release, at 4:35 p.m. EDT, the WTI benchmark was trading at $63.79, while Brent crude was trading at $67.22.

By Julianne Geiger for Oilprice.com