Shell Share Discussion Threads

[waldron] 13/7/2021 07:56

European markets head for muted open ahead of big bank earnings

Published Tue, Jul 13 20211:05 AM EDT

Holly Ellyatt
@HollyEllyatt

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Key Points

European stocks are expected to struggle for direction at the open on Tuesday ahead of earnings reports from several big banks in the U.S.

London’s FTSE is seen opening 5 points lower at 7,128, Germany’s DAX 1 point higher at 15,803, France’s CAC 40 up 3 points at 6,567 and Italy’s FTSE MIB up 79 points at 25,238, according to IG.

[gibbs1] 12/7/2021 19:24

Nord Stream 2 construction work to be finished next month, CEO says
Jul. 12, 2021 1:14 PM ETOGZPY, RDS.A...By: Carl Surran, SA News Editor9 Comments


Construction of the Nord Stream 2 gas pipeline from Russia to Germany should be completed by the end of August and the link operational this year, with 98% of the pipeline now finished, CEO Matthias Warnig says.

One 27.5B cm/year string has been completed with the remaining 2% of work to be carried out on the second 27.5B cm/year string, with another 2-3 months needed for pressure tests and certification, Warnig tells Handelsblatt.

"The U.S. sanction threats have made our work much more difficult in every respect, and this also applies to certification," but in the end, "we will have a pipeline that meets all certification requirements and international industry standards," Warnig says.

The Gazprom-led (OTCPK:OGZPY) project includes Western partners Royal Dutch Shell (RDS.A, RDS.B), BASF's (OTCQX:BASFY) Wintershall, Uniper (OTC:UNPPY), OMV (OTCPK:OMVJF) and Engie (OTCPK:ENGIY).

The Biden administration decided not to impose sanctions against the Switzerland-based Nord Stream 2 company and its CEO, issuing waivers for both.

[la forge] 12/7/2021 17:22

InsuraneJournal.com


Shell Abandons Push to Get Oil Spill Lawsuit to Be Heard in Nigeria

By Todd Gillespie and Laura Hurst | July 12, 2021


Royal Dutch Shell Plc has abandoned its final attempt to argue that a major lawsuit brought by thousands of Nigerians over an oil spill in the West African country should be heard in Nigeria rather than the UK.

Shell’s legal team declined to return to England’s High Court with arguments that the five-year-old case would be better heard in Nigeria, according to the parties in the case, conceding that the Nigerian subsidiary will now be joined to claims made in England against the parent company.

The UK Supreme Court said in a landmark ruling in February that Shell’s parent company could be sued in English courts for the actions of its Nigerian subsidiary. The court, however, left the door open for Shell to argue that it was more appropriate to leave any action against the local unit to Nigerian courts. By including the subsidiary in the UK proceedings, more documents about Shell’s work in Nigeria are likely to be made public.

“This is a significant win” for the affected communities because it means they can finally bring their case to trial, Daniel Leader, a lawyer who represents the claimants, said in a statement. However, he added, “Shell’s oil contamination remains in their drinking water, land and waterways, and still no clean-up has taken place.”

Shell declined to comment. The company said in February that it cleans up any environmental damage regardless of the cause.

The decision follows a pair of recent legal defeats for Shell. A Dutch court in January ordered the company to pay compensation to villagers in the Niger Delta over an oil spill decades ago. In a separate trial in The Hague in May, Shell lost a key case in which it was told to slash emissions by 45% across all its international operations by 2030.

About 40,000 members of Nigeria’s Ogale and Bille communities allege that Royal Dutch Shell and SPDC, its local subsidiary, are jointly responsible for oil contamination they’ve suffered in the Niger Delta since the 1980s. The campaign came to prominence under the leadership of Ken Saro-Wiwa, who was executed by the Nigerian government in 1995.

Shell has a fraught history in the West African nation, where a series of oil spills, which it blames in part on sabotage, have led it to reassess its future there. In May, Chief Executive Ben van Beurden told shareholders that “the balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions.”

The company set out a plan earlier this year to become “net-zero̶1; in terms of its carbon emissions by 2050.

[la forge] 12/7/2021 17:04

Shell and Deutsche Telekom agree to advance digital innovation in pursuit of climate goals

-Memorandum of understanding signed to accelerate transitions to net zero
-Shell supplies renewable energy to T-Mobile US

-Deutsche Telekom engineers to install more than 10,000 electric vehicle chargers in Germany

WEBWIRE – Monday, July 12, 2021

Shell Gas & Power Developments BV (Shell) and T-Systems International GmbH (T-Systems), Deutsche Telekom’s corporate customers arm, have signed a memorandum of understanding (MOU) to advance digital innovation as both companies accelerate their transitions to net-zero emissions.

The MOU builds on an existing technological relationship between Shell and T-Systems. Under the terms of the agreement the two companies will:

Pursue the net-zero goals of both companies, their supply chains and customers
Collaborate on innovations and services to accelerate Shell’s digital transformation
Work together to identify opportunities to co-invest and participate in new business models focused on the decarbonisation of society

To accelerate the transition to net zero, Shell is supplying renewable energy to T-Systems sister company, T-Mobile US, which is working towards a goal of operating on 100% renewable energy by the end of 2021.

In turn, NewMotion and ubitricity, subsidiaries of Shell which provide electric vehicle (EV) charging solutions across Europe, have awarded T-Systems a contract for Deutsche Telekom field engineers to install more than 10,000 EV chargers in Germany over the next three years.

The collaboration on innovations and services, reflected in the renewed global master services agreement entered into between Shell and T-Systems in 2020, will see Shell’s current Dynamic Hosting Services solution replaced with the next version of Private Cloud.

Both companies will also aim to deepen their IT products and service capabilities and explore new areas of digital innovation, including Hybrid and Edge Computing, which are different forms of data storage, as well as 5G connectivity. Shell has also installed immersion cooling technology for greater computing and energy efficiency in one of the T-Systems data centres in Amsterdam, the Netherlands.

Deutsche Telekom and Shell are also exploring the viability of smart city solutions, aimed at helping cities decarbonise and providing aggregated city data. For example, “Citykey”;, which could deliver EV-charging and mobility data on an easy-to-use app. The two companies are also exploring the potential of smart lighting projects with streetlight-based EV-charging possibilities.

“We are delighted to deepen our relationship with Deutsche Telekom and help the company to pursue its net-zero pledge while progressing our own target to be a net-zero emissions energy business by 2050, in step with society,” said Elisabeth Brinton, Executive Vice President Renewables & Energy Solutions at Shell. “Getting society to net zero will require unprecedented levels of collaboration.”;

Adel Al-Saleh, Deutsche Telekom board member and CEO of T-Systems, said: “We are committed to acting responsibly along our entire value chain and working together with our clients is pivotal in this. No individual and no company can solve the climate challenge alone. This is why we have put sustainability at the core of our strategy as we aim to become the leading European full IT-service provider. This newly signed MOU allows Shell and Deutsche Telekom to leverage their long-term collaboration, teaming up in new areas that will benefit society.”

[la forge] 12/7/2021 16:58

TASS
russian news agency



12 July 2021
17:36

12 Jul, 15:48

Second string of Nord Stream 2 almost ready — German Economy Ministry

Nord Stream 2 gas pipeline construction activities can be completed in August, and the goal of the company is to launch the pipeline as early as this year

BERLIN, July 12. /TASS/. The second string of the Nord Stream 2 gas pipeline is almost ready, and the technical expert examination and acceptance will follow, the German Economy Ministry says in its statement released on Monday.

All permits to build Nord Stream 2 issued — German Economy Ministry

"The so-called "technical acceptance" process is currently underway. Construction of the first string has been completed, and the second string is almost finalized. The technical expert review and acceptance will follow," the Ministry said. The permit for construction in German waters in the Baltic Sea, including the exclusive economic zone, was issued, it noted.

"Issue of a permit for gas intake is in the competence of the Mining Authority of Stralsund. The technical expert review and acceptance are currently implemented as part of this process," the Ministry added.

Nord Stream 2 gas pipeline construction activities can be completed in August, and the goal of the company is to launch the pipeline as early as this year, Managing Director of Nord Stream 2 AG Matthias Warnig, the pipeline project operator, said in the interview with Handelsblatt newspaper earlier.

[xxxxxy] 11/7/2021 19:28

George Herraghty11 Jul 2021 3:39PMJust a slight problem:Once again, this morning, the entire fleet of 10,000 demonstrably-useless giant, industrial bird-mincers is providing a derisory 3% to the National Grid!Simple arithmetic gullible Macron hasn't quite grasped:£XXX Billion wind farms + No wind = No power = Blackouts..... Daily Telegraph

[skinny] 11/7/2021 09:58

Mr Cowie .....

.



“Shell wants to become a leading supplier of green hydrogen for industrial and transport customers. We will be involved in the whole process, from power generation, using offshore wind, to hydrogen production and distribution.”

Better still, the oil giant bought its kit for the German plant from ITM Power (ITM), the Sheffield-based business mentioned across the page. Graham Cooley, the chief executive of ITM, said it was “just the beginning of the journey to net zero”. As a long-term investor in ITM and RDSB, I believe they are laying the foundations for a cleaner, greener future.

[tornado12] 10/7/2021 14:47

No doubt RDS overcooked the divi reduction and we are partly paying for it now. They need to get it back to 5% ASAP to give investors the risk vs reward balance. This for me is key to support and increase to share price back to £18-20 range … that means near double the payout compared today ! The next update for Q2 is critical for investor sentiment

[xxxxxy] 10/7/2021 12:24

Archie Pemberton9 Jul 2021 9:41PMGrandstanding, virtue-signalling from a bunch of politicians who are oblivious to the cost inflicted on ordinary citizens. The fact that Theresa May set the agenda is enough to tell me it's heinous.Flag326LikeReplyVote Leave10 Jul 2021 9:04AM@Archie Pemberton They don't pay utility bills! No empathy, Sturgeon being a classic case with her does not drink, does not have a driving license, no kids, only ever been a politician or an employee of politicians. How can they possibly be in touch with the people who elect.Flag10LikeReplyD Walker10 Jul 2021 11:00AM@Archie PembertonThe UN and the World Economic Forum set the Agenda.  Treason May was simply their puppet in the British Parliament.Build Back Better.You will own nothing - they will own everything and you will pay to rent/use it.Whether you are happy or not is irrelevant to them.....Daily 3

[loganair] 09/7/2021 21:55

A new Shell game:

There are only two numbers that really mean anything in the bloated accounts of big oil; the debt and the dividend. Everything else is adjusted, restated, subject to interpretation or plain incomprehensible (just take a look). The analysts may be diligent and make detailed projections ahead of the figures, but they’re almost as much in the dark as the rest of us.

So confidence in both those numbers matters. You would hardly think so from Royal Dutch Shell’s latest update. In March last year the board panicked and slashed a dividend that had not been cut for half a century by two-thirds. Perhaps the directors thought the end of the oil world was nigh, or they feared that all that debt would overwhelm them. Who knows?

When the world failed to end, six months later, they decided they had overdone the slashing, and raised the next quarterly payment, although only by 4 per cent, with an ambition to keep it going up. Last quarter they raised it again, but Jessica Uhl, still Shell’s chief financial officer, warned that “we are not anticipating a further increase” in the dividend for this year.

Well, it’s a fast-moving world, oil, and that was then. Now we have a new strategy. Shell has noticed that the oil price has gone up quite a lot, and so it can let the shareholders have between 20 and 30 per cent of cash flow, either by higher dividends or share buy-backs. The previous strategy, to get debt down to a mere $65bn, has been “retired”;, although we are not told what has replaced it.

This is pathetic. It is high time CEO Ben van Beurden, whose strategic purchase of BG at an inflated price gave Shell the debt problem in the first place, was himself retired. He might start to redeem himself before he does by pulling Shell out of the Netherlands to escape the judicial over-reach of the Dutch court in ordering the company to cut its CO2 emissions. Oh, and his successor might find a finance director who could see beyond the end of her nose, too.

[justiceforthemany] 09/7/2021 16:06

FTSE underperforming peers again due to short sellers.
FCA doing nothing as usual.
What's the excuse this time?
Brent is surging.

[tornado12] 09/7/2021 10:31

I don’t think UAE will go it alone. The only way to survive the crisis is by this group sticking together to control the oil price. Don’t want to see oil >80$ as is really negative for inflation and growth as we continue covid fight. Many times the big producers were pitching 60-70$ and that seems to be the right target for stability in markets. What Shell need to do is get their dividend strategy back on track over next few years, even using special divi strategy to avoid overstretch on the base payment. This seems perfect logic to me GLA

[the grumpy old men] 08/7/2021 23:51

Shell sells 37.5% stake in Germany's Schwedt refinery

Jul. 08, 2021 8:08 AM ETRoyal Dutch Shell plc (RDS.A), RDS.BBy: Carl Surran, SA News Editor1 Comment


Royal Dutch Shell (RDS.A, RDS.B) says it agrees to sell its minority stake in the PCK Schwedt joint venture refinery in Germany to Estonia's Liwathon Group for an undisclosed sum, as a part of its strategy to reduce its global refining footprint.

Shell holds a non-operated 37.5% stale in the independently managed plant alongside Rosneft (OTCPK:RNFTF) with 54.17% and Eni (NYSE:E) with 8.33%, which each have pre-emption rights over Shell's stake.

Shell does not offer financial details but estimates the current value of its hydrocarbon inventory at the refinery at $150M-$250M.

The company owns Germany's Rheinland refinery, the country's largest, which processes more than 15M mt/year of crude oil.

Shell recently said it began production at Europe's biggest hydrogen electrolysis plant after two years of construction at the Wesseling site of the Rheinland refinery.

[the white house] 08/7/2021 20:08

Petrol usage in the US 10m barrels a day last week, all driving hols, most since 1990...

[the white house] 08/7/2021 15:23

Not meSteady at a huge 73, Gas up 1pc at a high 3.6 AND we are down...Given update, a fine time to add a long, which I just have

[geckotheglorious] 08/7/2021 15:10

Who thinks UAE will be able to go their own way and produce as much as they please?

Anyone?

This is an over reaction to the downside Poo side.

[xxxxxy] 08/7/2021 13:07

Oil prices slumped to their lowest level in around three weeks on Thursday amid rising investor uncertainty over supply, and concerns over spreading COVID-19 cases.It comes after an aborted meeting of the Organisation of Petroleum Exporting Countries and its allies (OPEC+) this week, which failed to agree on a production deal.The cartel had been due to meet on Monday to continue talks on future production levels but a disagreement between the United Arab Emirates and Saudi Arabia over production cuts boiled over and the meeting was cancelled at the last minute.This derailed plans by OPEC+ to boost output in August and beyond to meet rising demand.OPEC+ decided to slash production by nearly 10 million barrels a day last year as demand tumbled at the start of the COVID-19 pandemic. Oil prices have risen 50% since the start of the year as the world has begun relaxing COVID-era restrictions.However, the UAE rejected a proposed eight-month extension to output curbs that OPEC+ had imposed on each other last year.There is now rising speculation that the current production-cuts agreement could collapse and lead to a surge of oil onto the market, which would affect prices. It also raises the possibility of a price war should producers opt to boost output unilaterally.Read more: US oil prices retreat after 6-year high on OPEC standoffAccording to reports, the UAE is now threatening to pump oil at maximum capacity in order to diversify its economy.Brent crude (BZ=F) fell as much as 1.5% during the session to $72.30 per barrel, before recovering slightly late morning. The move lower, however, extended this week's losses after hitting a near-three year high of $77.84 on Monday.West Texas Intermediate was also down around 1.4% on the day.The pullback in oil prices hurt the FTSE 100 (^FTSE), with oil producers Royal Dutch Shell (RDSB.L) and BP (BP.L), major constituents of the stock index, in decline.?Brent crude prices have slumped since Monday's highs. Chart: Yahoo FinanceOil also dropped as cases of the coronavirus Delta variant, which was first detected in India, increased across the globe, with the World Health Organization urging caution on the pace of reopenings worldwide.... Yahoo Finance