Shell Share Discussion Threads

[florenceorbis] 25/9/2021 07:56

Shell "in talks" to boost Iraq's Gas Production
25th September 2021 in Iraq Oil & Gas News


By John Lee.

Shell is reported to be in talks with Iraq to boost Basra Gas Company's capacity.

According to S&P Global Platts, BGC is planning to increase capacity for gas production from 1 billion cubic feet per day (Bcf/d) now to 1.4 Bcf/d in two years; discussions with Shell could see that increase further to 2 Bcf/d.

A statement in May from Iraq's Ministry of Oil said that Iraq will invest $3 billion in BGC over the next five years, increasing gas production capacity from 1 Bcf/d to 1.4 Bcf/d this year, and further to 2.4 Bcf/d by 2025.

Shell is also said to be continuing negotiations with Iraq over the giant Nibras [Nebras] petrochemical plant, which was initially agreed in 2015.

[florenceorbis] 25/9/2021 07:46

Royal Dutch Shell a
1,529.2 +0.35%


Royal Dutch Shell b
1,528.4 +0.53%

not much difference these days

[florenceorbis] 25/9/2021 05:57

European stocks close lower ahead of German election; Evergrande, central banks in focus

Published Fri, Sep 24 20211:44 AM EDTUpdated Fri, Sep 24 202111:53 AM EDT

Chloe Taylor
@ChloeTaylor141
Matt Clinch
@mattclinch81


Key Points

The pan-European Stoxx 600 ended down 0.9% with all major bourses and most sectors in negative territory.

Traders are gearing up for German federal elections this weekend with early projections of the result set to arrive Sunday evening.

British food delivery firm Deliveroo shed around 5% after losing a deal with Shell’s gas station convenience stores to rival Uber Eats.


source CNBC

[florenceorbis] 25/9/2021 05:14

An Unstoppable Natural Gas Rally

By Editorial Dept - Sep 24, 2021, 1:30 PM CDT


1. Oil Supply Disruptions Set To Ease

- With September seeing crude supply disruptions across continents, the upcoming months should bring most of that idled capacity back, also boosted by the end of field maintenance in Kazakhstan and Canada.

- Russia’s condensate supply was derailed by an August explosion at Gazprom’s condensate treatment plant, whilst Nigerian exports were hindered by oil spills and pipeline attacks.

- Shell, the main producer in the US Gulf of Mexico, indicated that repairing the West Delta-143 platform will take at least several months, shaving off some 250,000 b/d of production over Q4 2021.

- More than 16% of US Gulf of Mexico production is still shut-in, equivalent to almost 300,000 b/d as the pace of restoring output has weakened substantially this week.


2. Gas Prices Continue Their Insane Run

- Europe’s benchmark TTF pricing has netted another all-time high this week, with front-month ICE prices reaching €75 per MWh ($25 per mmBtu) this Monday, before dipping closer to the €70 per MWh threshold.

- In the meantime, spot LNG prices in Asia continued their upward movement, too, surging past $25 per mmBtu this week in unison with Europe.

- Russia’s pipeline gas monopoly Gazprom has still failed to book additional October capacity as it continues to replenish domestic inventories, while landed LNG prices in Europe are more than fourfold their seasonal average.

oilprice.co

[florenceorbis] 25/9/2021 04:52

France has promised one-time payments of €100 (£86) for households struggling to pay their energy bills.

More recently, Annalena Baerbock, a German election candidate and leader of the Greens party, joined in on the chorus of individuals who have laid blame on Russia for gas issues.

Baerbock said that the German government should send a message to Moscow quoting, "Russia must stick to its promises and supply enough gas through the existing pipelines like it used to.”

Meanwhile, the energy ministry's spokeswoman, Suzanne Ungrad, said on Wednesday that Russia was fulfilling existing supply deals and did not disregard any long-term contracts.

sputnik international

[florenceorbis] 25/9/2021 04:35

Royal Dutch Shell announced (20-Sep-2021) the company has set a target of producing around two million tonnes of sustainable aviation fuel (SAF) p/a by 2025. The company also aims to have at least 10% of its global aviation fuel sales as SAF by 2030. At present, Shell supplies SAF produced by other organisations.

[the white house] 24/9/2021 19:32

Last time it went to 77 it went to 78...

[the white house] 24/9/2021 19:31

Complete plagiarism from a Times editorial a couple of weeks back. Shameful

[ladywormer] 24/9/2021 16:00

Glad to see another Neil C fan

[florenceorbis] 24/9/2021 13:45

Shell is all at sea

Neil Collins

September 24, 2021

A huge yellow of offshore oil rig drilling platform in the gulf of Thailand,Process platform for production oil and gas,Petroleum production and exploration industrial


Once upon a time, you could be sure of Shell. If you go down to the investment woods today, the one thing you can be sure of is (another) big surprise. What used to be one of the stock market’s most reliable and predictable income generators suffered another spasm this week with the sale of an asset which it had described as “core” only a matter of months ago. This time it’s the shale oil and gas interests in the Permian basin in the US, one of the most prolific such areas in the world, sold off for $9.5bn.

Is this a good price? Who knows? The way the Shell board is behaving, it is hard to be confident, and the deal has too many of the marks of a forced sale. All but $2.5bn of the proceeds are promised back to us shareholders, which was enough to give the shares a bit of a kick up this week. The mechanism for those “additional shareholder distributions” will have to wait until the deal closes, but forecasting anything from this sprawling business has become almost impossible.

The rot set in last year, following the bizarre spectacle of the oil price falling below zero. This clearly so spooked the Shell board that they slashed two-thirds off a dividend which had only gone up for more than half a century. The short-sightedness of this move was highlighted just months later, when Shell announced that it seemed the oil world was not coming to an end after all. Instead, it would start raising the payout again, albeit at 4 per cent compound, a rate which would take 28 years to regain its previous level.

Another policy quickly followed, that the payout would now go up rather faster than previously indicated, and that share buybacks would restart. Meanwhile, a lower court in The Netherlands decided that it knew better than the board how the company should behave, and ordered Shell to speed up its carbon dioxide reduction plans. This was, and remains, a heaven-sent opportunity to follow Unilever’s example and reincorporate the business in the UK, but instead the CEO has kowtowed and promised to try and comply with this blatant judicial over-reach.

This week’s news, and the steady trickle of previously-announced buybacks, have taken the share price back to an 18-month high, but valuing the business remains as hard as when the dividend was cut. Analysts’ forecasts are little more than guesswork, and pages of figures with the results look impressive but are of little help to investors. The two figures that do mean something, the size of the group debt and the dividend, provide little guide to how the board will behave in future. From the outside, Shell looks like a business that is running before the green wind, with little or no idea of where it is going.

Not doing well by doing good

Before the end of the year, we are promised an exciting opportunity to earn even less on our savings than we do already: green bonds from the government’s own retail savings arm. Apparently, these things will have a three-year life, with interest rolled up and added to the repayment. The tax status is unknown.

This week saw the wholesale version launched, in the form of a 12-year, £10bn offer of government securities offering a yield of 0.87 per cent. Such is the demand to be seen to be doing something for the planet that the return is 0.025 per cent below that on the equivalent conventional gilt. The proceeds will go to whatever the government deems to be green, but in practice the money will disappear into the great government machine.

The lower interest rate will save about £28m over 12 years, or about 15 minutes of state spending, so you have to believe that every little helps. There is no financial reason why the institutions should pay up in this way, but it’s a small investment in a bit of virtue signalling. If they (or you) want to be seen to be making a little sacrifice in the great green cause, it’s a shame not to take the money.

What planet are they on?

Are you ESG’d out yet? Even before you’ve remembered that it stands for environmental, social and governance, there are signs that investors are suffering from ESG fatigue. A survey by Investing Reviews asked respondents which campaigns really got to them, and the patronising, woke offering from Jupiter topped the poll. Whether it was the image of the hermit crab (is this the fund manager, or the bewildered punter?) or the cheesy copy in its ads trumpeting how green Jupiter’s people are, we don’t know.

We do know that the record of the group’s funds is pretty crab-like, while Jupiter Fund Management shares are so deep in the mud that they cost the same as they did nine years ago. Still, at least the management under Andrew Formica has prospered mightily. ESG virtue-signalling is clearly good for some.

Incidentally, the runner-up in the irritation stakes is, predictably enough, abrdn, the boiled-down, unpronounceable remains of Standard Life Aberdeen. You can just imagine the consultants saying: let’s include this name for a laugh, along with some more serious proposals for the name change. The board will never buy it…

Coalman offers to deliver

They are also jolly green at Drax, owners of the UK’s biggest coal-fired power station which has pledged not to burn any more of the millions of tonnes under its feet after September next year. We could keep going, CEO Will Gardiner told the FT, if that would help everyone round the next energy corner. Very decent of him, and (at current prices) no need for a subsidy, which makes a pleasant change from almost all other offers of help. It might not look that good just ahead of the climate love-in at COP26, though.

Drax knows all about this game, since it has prospered mightily from subsidy farming in the UK’s energy market. It burns wood pellets, made from American trees and shipped across the Atlantic, burning oil as they go. On arrival, it counts as biomass (good) rather than the fossil fuel it might otherwise have eventually become. As Aneurin Bevan put it in 1945: “This island is made mainly of coal and surrounded by fish. Only an organizing genius could produce a shortage of coal and fish at the same time.”

reaction

[my retirement fund] 24/9/2021 12:44

Confirmed break out 1800 next stop

[kipper999] 24/9/2021 12:25

the white house
24 Sep '21 - 12:07 - 18461 of 18463
0 0 0
If you read inferior forums can you not post their rubbish views on here…

What a plonker!

Just been past the two filling stations in my town. Cars & vans fighting to get to the pumps & queing way down the road....

[florenceorbis] 24/9/2021 12:11

Britain urges motorists to ‘carry on as normal’ as BP shuts dozens of petrol stations amid haulage crisis

24 Sep, 2021 09:05

rt.com

The British transport secretary has urged the country’s motorists to “carry on as normal” as a shortage of heavy-goods vehicle (HGV) drivers impacts petrol stations, causing a number to close.

Speaking to Sky News on Friday, Transport Secretary Grant Shapps said HGV driver shortages were “not new,” and had been an issue all the way through the pandemic. Shapps stated that, on any normal day, it is not unusual for a chain of petrol stations, like those owned by BP, to have a handful closed due to supply issues.

The minister suggested that drivers had been unable to take driving tests during the pandemic and this had recreated a backlog, exacerbating the existing shortages which is also being felt in Europe and North America. Shapps insisted that many more tests were being made available now, so we should see the issue “smooth out” fairly quickly.

Also on rt.com Hundreds of thousands of heavy-goods vehicle drivers aren’t working, says minister, as UK govt vows to tackle haulage crisis

The transport secretary said that motorists should “shop for fuel as usual,” adding that BP was sharing the same message.

The minister’s remarks come after BP said its petrol-station arm had been forced to close dozens of forecourts in its 1,200-strong network due to shortages. Its competitor, Esso, also said it was experiencing challenges.

Supply issues have been blamed on the nation’s shortage of HGV drivers. On Thursday, junior business minister Paul Scully said that hundreds of thousands of people with HGV licences weren’t working – the industry needs around 100,000 drivers to take up jobs to meet demand.

Leading supermarket chain Tesco has said that there could be panic-buying of food in the run-up to Christmas unless the government takes steps to alleviate the haulage crisis.

[the white house] 24/9/2021 12:07

If you read inferior forums can you not post their rubbish views on here...My 14 bay Shell station had sold out to panic buyers so this Qs dosh should be looking good, coffee sales may dip however

[planit2] 24/9/2021 10:49

That drop is normal

18 months ago oil price was $52 and it dropped to -$20 in 8 weeks.
That was a proper drop.

[kipper999] 24/9/2021 09:54

I read on another forum that the last time OP was @ $77 it dropped to $65 within weeks
Will history repeat itself again?
Hope not!

[skinny] 24/9/2021 09:40

Brent approaching the October 2018 level - currently $77.57.

[florenceorbis] 24/9/2021 09:29

Shell Completes Sale of Egyptian Assets to Cairn, Cheiron

24/09/2021 8:44am

Dow Jones News

Royal Dutch Shell (LSE:RDSB)


By Jaime Llinares Taboada



Royal Dutch Shell PLC said Friday that it has completed the sale of its Western Desert assets onshore Egypt to Cairn Energy PLC and Cheiron Petroleum Corporation for up to $926 million.

The price includes a base consideration of $646 million and up to $280 million subject to oil price and exploration milestones between 2021 and 2024.

Cairn and Cheiron have acquired interests in 13 concessions which averaged net production of 83,000 oil-equivalent barrels a day in 2020, of which 63% was gas, and 226 million barrels of oil-equivalent 2P (proven and probable) reserves.

Shell said that the transaction refocuses its business in Egypt and that it remains a leading player in the country. The completion of the sale, which was first announced in March, comes days after Shell signed another deal to sell its U.S. Permian Basin oil production business to ConocoPhillips for $9.5 billion.

Cairn Energy said that the acquisition of Shell's gas-weighted portfolio offers low-cost production, near-term development, owned infrastructure and significant exploration potential in a region with strong gas demand growth.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires