Royal Dutch Shell Share Discussion Threads

[florenceorbis] 03/7/2020 07:24

Oil industry impairments to continue as coronavirus hastens corporate re-think Oil & Gas By Andrew Fawthrop 02 Jul 2020 Analysts expect oil and gas industry impairments to continue after coronavirus pressures prompted Shell and BP into multi-billion-dollar asset write-downs Shell wikimedia commons Raysonho Shell announced a portfolio write-down of up to $22bn this week (Credit: Wikimedia Commons/Raysonho) More large-scale impairment charges are to be expected across the oil and gas industry, as companies come to terms with a new market environment after coronavirus, say analysts. The forecast follows Royal Dutch Shell’s warning this week that up to $22bn could be wiped from the value of its assets after it cut its long-term fuel-price outlook – in a similar move to that of European rival BP, which last month announced a portfolio write-down of up to $17.5bn. Commodity prices have nosedived during the pandemic amid falling worldwide demand, and as the clamour for a renewables-led recovery grows stronger, Shell has lowered its long-term price outlook for the Brent crude benchmark to $60 per barrel. Oil prices have recovered slightly to around $40 per barrel since the dismal months of April and May – largely as a result of global efforts to curtail production and slowly-returning demand as countries begin to loosen lockdown restrictions. Shell estimates Henry Hub natural gas prices of $3 per million British thermal units (Btu) beyond 2023, while its long-term refining profit margin outlook was cut by 30%. The adjustments have led the Anglo-Dutch oil major to anticipate “post-tax impairment charges in the range of $15bn to $22bn” during the second quarter of this year. “This process has further to run, and we expect further large impairments to occur across the sector,” said Wood Mackenzie’s upstream research director Angus Rodger. “The major oil companies are going through a process of reassessing long-term oil price assumptions and investment hurdle rates.” Oil industry faces a ‘pivotal moment’ as coronavirus accelerates calls for green transition Both Shell and BP have announced plans to accelerate their transition to net-zero by 2050, strategies that involve reviewing existing business models under the lens of shifting energy demands and consumption habits. BP chief executive Bernard Looney recently identified a “pivotal moment” for energy firms as efforts intensify to avoid falling into a climate crisis. Analysis from Rystad Energy suggests the Covid-19 pandemic will hasten the timeframe of peak oil demand, with reduced capital spending plans among producers “putting a lid on exploration efforts in remote offshore areas”, reducing the world’s recoverable oil by around 282 billion barrels. Wood Mackenzie’s vice president of corporate analysis, Luke Parker, believes these renewed price assessments and portfolio adjustments from Shell and BP signal a “fundamental change” sweeping through the sector, delivering “a message about stranded assets”. He said: “Just a few years ago, few within the oil and gas industry would even countenance ideas of climate risk, peak demand, stranded assets, liquidation business models and so on. Today, companies are building strategies around these ideas,” he said. “Demand might still grow from here, and many companies are still chasing a share of that growth. But make no mistake, the corporate landscape is changing, and the majors are changing with it.”

[florenceorbis] 03/7/2020 06:44

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[misca2] 02/7/2020 20:02

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[waldron] 02/7/2020 18:24

Brent Crude Oil NYMEX 42.64 +1.67% Gasoline NYMEX 1.24 +1.96% Natural Gas NYMEX 1.77 +1.60% WTI 40.145 USD +1.62% FTSE 100 6,240.36 +1.34% Dow Jones 25,969.35 +0.91% CAC 40 5,049.38 +2.49% SBF 120 3,973.24 +2.42% Euro STOXX 50 3,320.09 +2.95% DAX 12,608.46 +2.84% Ftse Mib 19,878.78 +2.83% Eni 8.72 +2.89% Total 34.845 +2.01% Engie 11.37 +4.07% Orange 10.825 +2.12% Bp 313.25 +1.26% Vodafone 129.48 +1.28% Royal Dutch Shell A 1,312.2 +0.58% Royal Dutch Shell B 1,246.2 +0.81% TULLOW OIL Price (GBX)31.78 +2.55%

[florenceorbis] 02/7/2020 07:57

RDSB Barclays Capital Equal weight 1,500.00 Reiterates RDSA Barclays Capital Equal weight 1,500.00 - Reiterates BP. Barclays Capital Overweight 400.00 - Reiterates

[florenceorbis] 02/7/2020 07:47

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[waldron] 01/7/2020 17:38

Brent Crude Oil NYMEX 41.93 +0.62% Gasoline NYMEX 1.21 -0.64% Natural Gas NYMEX 1.72 -3.96% (WTI) 39.745 USD +0.51% FTSE 100 6,157.96 -0.19% Dow Jones 25,825.94 +0.05% CAC 40 4,926.94 -0.18% SBF 120 3,879.44 -0.12% Euro STOXX 50 3,228.45 -0.37% DAX 12,260.57 -0.41% Ftse Mib 19,304.88 -0.36% Eni 8.475 -0.18% Total 34.16 +0.54% Engie 10.925 -0.68% Orange 10.6 -0.42% Bp 309.35 +0.70% Vodafone 127.84 -0.79% Royal Dutch Shell A 1,304.6 +1.37% Royal Dutch Shell B 1,236.2 +1.00% TULLOW OIL Price (GBX)30.99 -2.24%

[maywillow] 01/7/2020 12:34

RDSB Goldman Sachs Buy down from 1,850.00 to 1,810.00 Reiterates BP. Goldman Sachs Conviction Buy down from 550.00 to 530.00 Reiterates RDSA UBS Buy 1,750.00 - Unchanged RDSA Jefferies International Hold 1,150.00 - Reiterates THE EXTREMES OF BROKERS

[florenceorbis] 01/7/2020 08:38

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[waldron] 30/6/2020 17:14

Brent Crude Oil NYMEX 41.68 -0.33% Gasoline NYMEX 1.22 +1.89% Natural Gas NYMEX 1.73 +2.30% WTI 39.67 USD +0.32% FTSE 100 6,169.74 -0.90% Dow Jones 25,598.78 +0.01% CAC 40 4,935.99 -0.19% SBF 120 3,884.04 -0.10% Euro STOXX 50 3,240.4 +0.01% DAX 12,310.93 +0.64% Ftse Mib 19,402.36 -0.23% Eni 8.49 -1.57% Total 33.975 -1.66% Engie 11 -1.70% Orange 10.645 -0.37% Bp 307.2 -2.45% Vodafone 128.86 +0.83% Royal Dutch Shell A 1,287 -3.94% Royal Dutch Shell B 1,224 -3.68% TULLOW OIL (GBX)31.70 + 1.57%

[florenceorbis] 30/6/2020 08:43

Oil & Gas Philip Whiterow 08:03 Tue 30 Jun 2020 Follow Philip on: Shell to take US$20bn profit hit after oil price reassessment Between S$4-6bn will be written off its North American shale operation and in Brazil. Royal Dutch Shell PLC (LON:RDSB) said it is to take between a US$20-US$27bn hit to its profits this year after it lowered its assumptions of future oil and gas prices. The move mirrors rival BP (LON:BP.) that two weeks ago said it would take an impairment charge of up to US$17.5bn after it also reduced its forecasts for future prices. Shell, which will take the impairment charges in this quarter, said it now expects Brent crude prices only to recover to US$60 per barrel by 2023 and to stay at the level for the long- term. Gas prices are also expected to make only a slow recovery to US$2.75 per therm over the same period. After tax, the US$20-27bn pre-tax impairment will drop to a range of US$15-22bn, Shell said, with between US$4-6bn net written off its North American shale operation and in Brazil. Shell also forecast an US$8-9bn net charge at its Australian gas assets and a further US$3-7bn across its portfolio of oil products. As a result of the impairments, the oil group’s gearing or debt level rises by 3%. Shell released the impairment announcement alongside its second-quarter update that also detailed write-offs of US$250-300mln for the weak LNG price. Oil production is estimated to be between 2.300-2,400 barrels per day, but inventory write-downs are predicted to cost between US$200-400mln. Refining margins are expected to be significantly lower compared with the first quarter 2020 and are expected to be offset by higher trading and optimisation results, said the statement. Proactiveinvestors

[florenceorbis] 30/6/2020 08:19

06/30/2020 | 07:35am BST By Jaime Llinares Taboada Royal Dutch Shell PLC said Tuesday that it expects to book post-tax impairments of between $15 billion and $22 billion in the second quarter after it revised lower its oil and gas mid- and long-term price expectations. The British-Dutch oil giant said that the revised commodity prices and refining margin outlooks reflect the expected effects of the coronavirus pandemic and related macroeconomic, as well as energy market demand and supply fundamentals. Shell now sees the long-term Brent oil price at $60 per barrel, and the Henry Hub gas price at $3.0 per million British thermal units. In addition, average long-term refining margins have been lowered by around 30%. The company said that $8 billion to $9 billion impairments are related to its integrated gas division, whereas $4 billion-$6 billion relate to the upstream business, and $3 billion-$7 billion to the oil products unit. Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT

[florenceorbis] 30/6/2020 07:57

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[waldron] 29/6/2020 17:23

Brent Crude Oil NYMEX 41.40 +1.15% Gasoline NYMEX 1.19 +2.43% Natural Gas NYMEX 1.71 +10.75% (WTI) 39.045 USD +3.18% FTSE 100 6,225.77 +1.08% Dow Jones 25,430.34 +1.66% CAC 40 4,945.46 +0.73% SBF 120 3,887.81 +0.68% Euro STOXX 50 3,240.2 +1.02% DAX 12,232.12 +1.18% Ftse Mib 19,470.9 +1.81% Eni 8.625 +2.72% Total 34.55 -1.69% Ex divi Engie 11.19 +2.71% Orange 10.685 +2.84% Bp 314.9 +3.38% Vodafone 127.8 +2.04% Royal Dutch Shell A 1,339.8 +1.52% Royal Dutch Shell B 1,270.8 +1.00% TULLOW OIL Price (GBX)31.21 -0.61%

[florenceorbis] 29/6/2020 06:37

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[waldron] 26/6/2020 17:27

Brent Crude Oil NYMEX 40.70 -1.02% Gasoline NYMEX 1.15 -3.73% Natural Gas NYMEX 1.55 +1.77% WTI 38.195 USD -1.93% FTSE 100 6,159.3 +0.20% Dow Jones 25,224.12 -2.03% CAC 40 4,909.64 -0.18% SBF 120 3,861.37 -0.18% Euro STOXX 50 3,207.37 -0.75% DAX 12,089.39 -0.73% Ftse Mib 19,147.12 -0.46% Eni 8.397 -0.99% Total 35.145 -0.18% Engie 10.895 -0.59% Orange 10.39 +0.00% Bp 304.6 -1.30% Vodafone 125.24 -1.43% Royal Dutch Shell A 1,319.8 -0.74% Royal Dutch Shell B 1,258.2 -0.98% TULLOW OIL Price (GBX)31.40 -0.66%

[sarkasm] 26/6/2020 13:54

Pro Marketplace Upgrade 1 Premium My Portfolio5 Authors Top Stocks Latest News Markets Stock Ideas Dividends ETFs Investing Strategy Podcasts Help & Support Edit bp 23.50 1.56% bpmp 11.54 -1.62% duk 79.45 -1.27% fdx 136.11 0.76% nok 4.45 5.95% rds.a 33.89 2.33% tot 39.17 0.26% Expand Portfolio Energy Petrobras launches production at Atapu pre-salt field Jun. 26, 2020 8:41 AM ET|About: Petróleo Brasileiro S.A. - ... (PBR)|By: Carl Surran, SA News Editor Petrobras (NYSE:PBR) says it has started oil and gas production from the Atapu pre-salt field, using the P-70 FPSO platform in the deepwater Santos Basin offshore Brazil. The P-70 platform, the fifth FPSO of the series, has the capacity to process as much as 150K bbl/day of oil and treat up to 6M cm/day of natural gas. Petrobras owns ~89% of rights to the deposit; smaller partners include Royal Dutch Shell (RDS.A, RDS.B) and Total (NYSE:TOT).

[ariane] 26/6/2020 10:59

Wells Fargo signs renewable energy agreements with Shell Energy PowerSolarPlant By NS Energy Staff Writer 25 Jun 2020 The agreements will support the development of solar projects in Riverside County, in California, Prince George’s County, Chesapeake County, and Appomattox County in Virginia photovoltaic-system-2742302_640 Wells Fargo meets 100% of its annual global electricity requirements with renewable energy. (Credit: Pixabay/Sebastian Ganso) US-based financial services company Wells Fargo has signed agreements with Shell Energy North America (US) and its subsidiary MP2 Energy to buy around 150,000 MWh of renewable power. The bank said the purchased energy will address 100% power consumption of around 1,200 properties it has in California and the mid-Atlantic states. It meets 100% of the company’s eligible load in California, Delaware, Maryland, New Jersey, Illinois, Ohio, Pennsylvania, and the District of Columbia. The long-term agreements will support the development of new utility-scale solar projects in Riverside County, in California, Prince George’s County, Chesapeake County, and Appomattox County in Virginia. Wells Fargo said that the new energy sources are expected reduce the overall carbon emissions, create jobs, and support resiliency efforts in the respective regions. The contract with Shell Energy, a unit of oil giant Royal Dutch Shell, and MP2 Energy will be in force for 7- and 6.7-year terms, respectively. Shell Energy and MP2 Energy will use the renewable energy certificates (RECs) Wells Fargo Corporate Properties head Richard Henderson said: “Entering into long-term contracts that support the development of net-new sources of renewable energy that are geographically close to our facilities is a critical piece of Wells Fargo’s renewable energy strategy. “We appreciate the collaboration with Shell Energy and MP2 in developing these creative transactions to deliver retail renewable energy supply to our California and mid-Atlantic real estate portfolios, and support the communities where we work and live.” Additionally, Shell Energy and MP2 Energy will use the renewable energy certificates (RECs) from the plants towards compliance with state renewable energy mandates, directly or through third-party sales. Since 2017, Wells Fargo has been meeting 100% of its annual global electricity requirements with renewable energy, mainly by buying RECs. In October last year, Wells Fargo entered a ten-year structured renewable energy agreement with NRG Energy company Reliant.

[florenceorbis] 26/6/2020 06:45

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[waldron] 25/6/2020 17:19

Brent Crude Oil NYMEX 40.45 +0.35% Gasoline NYMEX 1.18 -0.83% Natural Gas NYMEX 1.52 -8.54% WTI 38.03 USD +0.05% FTSE 100 6,147.14 +0.38% Dow Jones 25,352.64 -0.37% CAC 40 4,918.58 +0.97% SBF 120 3,868.26 +1.04% Euro STOXX 50 3,231.73 +0.95% DAX 12,177.87 +0.69% Ftse Mib 19,306.78 +0.75% Eni 8.481 +0.11% Total 35.21 +0.80% Engie 10.96 +0.18% Orange 10.39 +0.43% Bp 308.6 +0.41% Vodafone 127.06 +1.62% Royal Dutch Shell A 1,329.6 +0.36% Royal Dutch Shell B 1,270.6 +0.21% TULLOW OIL Price (GBX)31.61 -0.13%

[florenceorbis] 25/6/2020 06:17

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[waldron] 24/6/2020 17:27

Brent Crude Oil NYMEX 39.70 -6.87% Gasoline NYMEX 1.20 -7.29% Natural Gas NYMEX 1.69 +0.06% WTI 37.635 USD -6.21% FTSE 100 6,123.69 -3.11% Dow Jones 25,374.47 -2.99% CAC 40 4,871.36 -2.92% SBF 120 3,875.07 -1.73% Euro STOXX 50 3,201.18 -3.07% DAX 12,093.94 -3.43% Ftse Mib 19,206.65 -3.20% Eni 8.472 -4.77% Total 34.93 -3.47% Engie 11.125 -0.80% Orange 10.47 -0.43% Bp 307.35 -4.39% Vodafone 125.04 -3.17% Royal Dutch Shell A 1,324.8 -4.68% Royal Dutch Shell B 1,268 -4.73% TULLOW OIL Price (GBX)31.65 -5.18%

[florenceorbis] 24/6/2020 06:43

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[waldron] 23/6/2020 17:35

Brent Crude Oil NYMEX 43.34 +0.60% Gasoline NYMEX 1.31 +1.52% Natural Gas NYMEX 1.71 -1.67% WTI 40.85 USD -0.07% FTSE 100 6,320.12 +1.21% Dow Jones 26,236.19 +0.81% CAC 40 5,017.68 +1.39% SBF 120 3,943.43 +1.33% Euro STOXX 50 3,298.83 +1.82% DAX 12,523.76 +2.13% Ftse Mib 19,877.71 +2.05% Eni 8.896 +1.06% Total 36.185 +2.12% Engie 11.215 +1.04% Orange 10.515 +0.29% Bp 321.45 +1.90% Vodafone 129.14 +1.86% Royal Dutch Shell A 1,389.8 +2.33% Royal Dutch Shell B 1,331 +2.21% TULLOW OIL Price (GBX)33.38 + 0.51%