Shell Share Discussion Threads

[pander45] 05/11/2021 13:18

I have always found it strange in the grand scheme of things that we barely have the technology to make a cloud to produce rain but seem to be able to modify an entire planetary climate system with our love of fossil fuels. Is climate change the biggest money spinning ruse since the millennium bug? Just saying.

[husted] 05/11/2021 12:49

Aviation is hiding demand picture.

If you take out jet fuel, demand for oil is higher than it was pre-pandemic.

[xxxxxy] 05/11/2021 11:38

Someone by me just said..... It is an awful waste of money.....

[xxxxxy] 05/11/2021 11:37

Reform Party...Give us a Referendum on Green Policy....Please....EAT OR HEAT. OR DEATH BY HYPOTHERMIA.REFERENDUM. REFERENDUM. REFERENDUM.Policy for all the people. Made by the people for the people.Elite, Get Out.Elite OUT. OUT. OUT.

[tornado12] 05/11/2021 10:38

I want the 100$ oil not for shell and my significant investment to grow rapidly only to shut the loud mouths of the greens and the world to wake up to fact we need that sustainable Balanced transition over next 50 yrs. even then oil will still be needed in large quantities. So stop focus on oil outputs and focus on the growth rate of the alternatives which are proven in next 10 yrs as reliable and not hype as today ! Rude awakening for the senseless uneducated greens ( including the Swedish nutter)

[the white house] 05/11/2021 08:42

Clever from Citigroup stating demand is going to be very slow in growing when already this morning BA has said it is reinstating a full N Atlantic schedule and the likes of Hermes are jumping at the thought

[waldron] 05/11/2021 08:38

Here’s What Citigroup to Goldman Say About Oil After OPEC+ Move

Sharon Cho and Elizabeth Low, Bloomberg News




(Bloomberg) -- OPEC+ stuck to its guns and maintained its modest output boost for December as the alliance shunned calls from key consumers to pump more. President Joe Biden has been a vocal advocate of a larger supply increase and the decision from the group prompted the U.S. to say it would consider a wide range of tools to deal with prices. Brent rose Friday after sinking this week.

Here’s what some analysts had to say about the oil market after OPEC+ agreed to increase production by 400,000 barrels a day next month:

Citigroup

OPEC+ said last week that “demand was going to be very slow in growing, we’ve got the pandemic ahead of us,” Ed Morse, the global head of commodities research at Citigroup Inc., said in a Bloomberg television interview. “Actually, the reverse is probably more true. We’re seeing an uptick in demand.”

“Next year is going to be a very big surprise upward in terms of non-OPEC production including from the U.S.,” Morse added. It’s going to be larger in terms of growth than “any other individual OPEC country.”

Goldman Sachs

Price volatility is expected to increase over the coming weeks due to the open disagreement between OPEC+ and the U.S., according to a note from Goldman Sachs Group Inc. on Thursday. The oil market remained under-supplied and a potential release from U.S. strategic reserves may provide only temporary relief and could even backfire next year, the bank said.

Again Capital

“For now, OPEC+ holds all the cards, and if the SPR supplies do not get tapped, much higher prices will ensue,” said John Kilduff, founding partner at Again Capital LLC, referring to the release of strategic oil reserves. “If the winter dawns early, the worst-case price scenario for oil will occur -- $100 plus.”

UBS

The OPEC+ decision may prompt the U.S. to release strategic oil reserves, although that would “only fill the gap during temporary production disruptions and not fix structural issues of underinvestment and rising demand,” according to a note from UBS Group AG strategist Giovanni Staunovo. The bank reiterated its forecast for Brent to reach $90 a barrel in the coming months.

Vanda Insights

It’s unlikely that there will be a major reaction from oil consumers, with Brent crude already cooling from its highs, said Vandana Hari, the founder of Vanda Insights. Demand is expected to continue rebounding, and stockpiles will likely drain substantially following the OPEC+ decision to keep supply tight, she said.

[kelso29] 05/11/2021 08:00

With countries ditching coal and nuclear power, when it doesn't shine or no wind, isn't oil and gas the only horse in town? (excluding Norway who are alright with their hydro)

[xxxxxy] 05/11/2021 07:33

Boris.Knew his Classics. But Zero for Science.

[xxxxxy] 05/11/2021 07:32

Weep for Mad Boris.Did do a couple of great things. Mainly getting Brexit done and a making vaccine happen.

[xxxxxy] 05/11/2021 07:29

How Boris Johnson's pledge to end forest destruction ignores 25m trees Britain is burning for biomassDrax's 'green fuel', which is made from wood pellets, produces more carbon than coal, scientists warnByHayley Dixon, SPECIAL CORRESPONDENT4 November 2021 • 9:30pm?Britain will continue to produce electricity from burning the equivalent of more than 25 million trees a year - despite Boris Johnson's pledge to end the destruction of forests, The Telegraph can reveal..... Daily Telegraph

[waldron] 05/11/2021 07:16

Opening Call:

Europe faces a cautious opening session as investors continue to reassess signals from central banks over monetary policy. In Asia, fresh worries over Chinese developers dragged on the region's stock markets, while the dollar, gold, Treasury yields and oil all gained.

Equities:

European stocks will likely struggle for traction Friday at the end of a week in which global central banks avoided any hawkish surprises.

[waldron] 05/11/2021 07:10

OPEC+ agrees to stick to oil production plan, defying U.S. pressure

Published Thu, Nov 4 202110:56 AM EDT

Updated 5 Hours Ago

Natasha Turak
@NatashaTurak
cnbc


Key Points

The group, known as OPEC+, will rollover its August program to gradually increase oil production by 400,000 barrels per day each month.

Oil prices have recently hit their highest levels since 2014, and crude-importing countries are feeling the pain.

[pander45] 04/11/2021 21:53

Demand will be increasing. I hope that supply is constrained to make the green army sweat a bit.

[waldron] 04/11/2021 16:30

Shell to Move Away From Crude at Germany’s Biggest Refinery

Rachel Graham, Bloomberg News

(Bloomberg) -- Royal Dutch Shell Plc announced plans to reduce oil refining capacity in Germany in order to meet its climate goals.

The Wesseling section of the giant Rheinland oil-processing complex will stop processing crude oil from 2025, Shell said in a statement. A final investment decision on the plan to build new units and convert existing plants has yet to be taken, it said.

Shell is one of Europe’s biggest emitters. The company started a green hydrogen plant at Wesseling last year and has plans to expand it. Chemicals production will continue at Wesseling in the medium term.

[ariane] 04/11/2021 11:48

worldoil.com



Nord Stream 2 may take months to untangle European red tape

By Patrick Donahue and Dina Khrennikova on 11/4/2021

(Bloomberg) --Russia’s Nord Stream 2 may need a few more months to clear remaining red tape before the controversial pipeline begins pumping natural gas to Germany to help ease Europe’s energy crunch.

The Baltic Sea project -- which has raised concerns over the Kremlin’s control of energy supplies to the continent, including among Germany’s Greens -- is complete and awaiting certification from national and European Union authorities. Russian President Vladimir Putin has pledged to step up gas supply, and has said Nord Stream 2 can be activated “the day after” regulatory sign-off.

However, the pipeline might not be approved until May if regulators use all the time they’re allowed. Whether the bureaucrats would be willing to accelerate the process if Europe’s energy woes intensify remains to be seen.

Soaring energy prices coupled with below-capacity deliveries in recent weeks have prompted accusations from European officials that Russia is curbing supply to pile pressure on authorities to grant certification for the new link.

The political dial is unlikely to move much. The German government under outgoing Chancellor Angela Merkel has been steadfast in its support for the project over the objections of the U.S. and some European Union partners, as well as Russia’s neighbor Ukraine.

With Olaf Scholz, a Social Democrat whose party has firmly backed the pipeline, seeking to form a new government to succeed her, a shift in policy is not on the horizon.

Still, the Greens, the second-largest political force negotiating for a coalition, have long opposed the project. Co-leader Robert Habeck, who will play a leading role in any new government, on Wednesday reinforced the party’s calls for the pipeline to adhere to EU rules and accused Russia of using the project as a tool for blackmail.

“If you ask me if Nord Stream 2 should be allowed to go online, I would say only if all European rules are adhered to,” Habeck said in an interview with Deutschlandfunk radio. “I wouldn’t see that as being the case right now and would doubt that.”

Here’s a look at what to expect:

German Approval

Germany’s Federal Network Agency has until Jan. 8 to issue a draft decision on certification, the end of a four-month window after the paperwork was submitted to German authorities.

Approval appears to be a foregone conclusion after the Economy Ministry in Berlin issued an assessment last month saying that Nord Stream 2 poses no risk to the energy supply of Germany and the EU.

EU Finding

The draft decision will then be handed over to the European Commission for review, particularly on whether the pipeline meets EU rules stipulating that the gas-transport business is separate from production and sales -- a process known as unbundling.

A group of senior European Parliament lawmakers wrote a letter to EU Energy Commissioner Kadri Simson last month warning that Nord Stream 2 doesn’t conform with unbundling requirements. They called for a “clear and robust” adherence to European energy rules, a point echoed by the German Greens’ Habeck.

But the Commission’s finding isn’t binding, limiting the scope to halt the project. More likely is a delay. The EU has two months to reach a conclusion, which can be extended for another two months.

Only then can Germany’s regulator grant certification -- potentially putting Nord Stream 2’s starting date well into next year.

“If the German regulator allows supplies tomorrow, deliveries will begin the day after tomorrow,” Putin said in Sochi last month.

Political Backing

Opposition to the pipeline, particularly among eastern EU member states such as Poland, remains strong, and the government in Warsaw last month called on the Commission to launch a probe into possible market manipulation by Nord Stream 2 owner Gazprom PJSC.

The EU executive arm said it’s quizzing gas producers and suppliers as it examines “all allegations of possible anti-competitive conduct” to check whether current price increases are related to antitrust breaches.

A political demise of the project is all but ruled out. Merkel agreed in a declaration with the U.S. that Germany will take action if Putin weaponizes energy, but there is little intention in Berlin to shut down the pipeline.

Scholz is holding talks to form a government with the Greens and pro-business Free Democrats, both of which were outspoken opponents of Nord Stream 2 on the campaign trail. But as the largest party in the government, the SPD would almost certainly block any language in a coalition accord that would endanger the project.

[deanroberthunt] 04/11/2021 07:53

Oil virtually back to UK market close levels, bounced off the bottom of Bollinger Band 2 standard deviation.

[deanroberthunt] 04/11/2021 07:20

@waldron, the news anchor :)

[waldron] 04/11/2021 06:46

European markets set to start the trading day higher as investors digest Fed decision

Published Thu, Nov 4 20211:22 AM EDT

Holly Ellyatt
@HollyEllyatt
cnbc


Key Points

European stocks are expected to open higher on Thursday as global markets react to the U.S. Federal Reserve’s announcement that it will start to taper its bond-buying program.

The U.K.’s FTSE index is seen opening 32 points higher at 7,271, Germany’s DAX 68 points higher at 16,025, France’s CAC 40 up 37 points at 6,987 and Italy’s FTSE MIB 108 points higher at 27,322, according to data from IG.

[pander45] 03/11/2021 21:38

The global thirst for oil is not going to be declining anytime soon. Fledgling green technologies have a long way to go. Oil income needed to fund the transition anyway. Less developed nations will depend on oil for decades - alternatives are too expensive. Oil being viewed prematurely as a dinosaur but that extinction level event for oil is a long, long way off. Masses of cash still to be made.