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Shell Plc | LSE:RDSA | London | Ordinary Share | GB00B03MLX29 | 'A' ORD EUR0.07 |
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0.00 | 0.00% | 1,895.20 | 1,900.20 | 1,900.80 | - | 0.00 | 01:00:00 |
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10/4/2016 16:22 | Apr 10, 2016 @ 10:58 AM 141 views Forget Saudi Arabia, Tesla Is The Real Threat To American Frackers Panos Mourdoukoutas , Contributor I cover global markets, business and investment strategy Follow on Forbes (540) Opinions expressed by Forbes Contributors are their own. Saudi Arabia and American Frackers are fighting the last war in the oil market. And investors have probably missed a development this week, which will make that war irrelevant in the next decade: overwhelming consumer support for Tesla’s (NASDAQ:TSLA) low-priced Model 3 EV, which has the potential to change the rules of the game for the automobile market. In two ways: first, it will help EV’s reach the mass market sooner rather than later, as discussed in a previous piece here. Second, it will force major automobile companies to jump on the bandwagon with their own EV models. In fact major automobile companies already have their own models, but they haven’t taken Tesla’s challenge seriously because the EV market was just a niche market. There is a good explanation, according to a Harvard Business report. Tesla isn’t as disruptive as Wall Street believes it to be, argues the report. “Think of it this way: all-electric vehicles accounted for just 119,710 of the 16.5 million sold in the US in 2014—seven tenths of one percent of the market.” That’s a tiny market. “Established carmakers are paying little attention to EVs not because they are clueless but because so few people want EVs. (And they aren’t completely ignoring EVs; consider the all-electric Nissan Leaf and Chevy Volt, each of which outsold Tesla in 2014). Tesla is betting that preferences will change—that someday millions of people will want electric vehicles.” The overwhelming demand for Tesla’s model 3 (325,000 orders in just a few days) is a good indication that consumer preferences may, indeed, be changing. This means that major automobile makers can no longer ignore Tesla’s challenge; and have to jump into the bandwagon, with their own mass-market vehicles. Recommended by Forbes Now think about the impact the explosion of the EV market will have on the conventional auto market, where “the actual contest will be ICE vs EV. There is plenty of room for Tesla, GM and Toyota in this market. The EV “pie” will grow while the ICE pie shrinks,” as a commentator in one of our previous pieces observes. A shrinking ICE market is certainly bad news for the oil market – and that means it’s bad news for Saudi Arabia and for frackers. | grupo guitarlumber | |
07/4/2016 15:25 | BRUSSELS, April 7 (UPI) -- Adding on to the Nord Stream natural gas pipeline running from Russia to European shores would impact the regional market significantly, an EU official said. Russian energy company Gazprom in September signed shareholder agreements on the development of the second phase of the twin Nord Stream pipeline system with its counterparts at German energy companies BASF and E.ON, as well as those from French company ENGIE, Austria's OMV and Royal Dutch Shell. Under the proposed expansion, two more lines would be added to the existing network running through the Baltic Sea to the German coast, roughly doubling the pipeline's net capacity. The European Union has expressed concern about Russia's control over the regional market as the Russian gas company typically controls both the transit networks and the reserves they deliver. Maros Sefcovic, a European leader on energy issues, told members of the European Parliament in Brussels concerns about the second phase of Nord Stream go beyond immediate regulatory matters. "Nord Stream 2 could alter the landscape of the EU's gas market while not giving access to a new source of supply or a new supplier, and further increasing excess capacity from Russia to the EU," he said. Gazprom said last year the expansion would not meet the regulatory conditions to be considered a new project. The second phase of Nord Stream would be developed by a company named New European Pipeline, and Gazprom would hold a 51 percent share. In January, Ukrainian energy company Naftogaz, which has been under pressure from Gazprom to meet its contractual obligations, filed an official complaint in Europe, arguing Russian gas pipeline expansion plans would limit competition. Russia meets about a quarter of European gas needs, though most of those reserves head through the Soviet-era pipeline network in Ukraine. All networks, stressed Sefcovic, face the potential for disruption. | waldron | |
05/4/2016 10:22 | RDS Q1 2016 Advance Notice of Results 04:28 ET from Royal Dutch Shell plc THE HAGUE, The Netherlands, April 5, 2016 /PRNewswire/ -- On Wednesday, May 4, 2016 at 07.00 BST (08.00 CEST and 02.00 EDT) Royal Dutch Shell plc (NYSE: RDS.A)(NYSE: RDS.B) will release its first quarter results and first quarter interim dividend announcement for 2016. These announcements will be available on Enquiries: Shell Media Relations: +44-(0)207-934-5550 Shell Investor Relations: +31-(0)70-377-4540 or +1-832-337-2034 SOURCE Royal Dutch Shell plc | waldron | |
01/4/2016 20:42 | The Right Dream for Saudi Arabia April 1, 2016 3:10 PM EST By Editorial Board No one can fault Deputy Crown Prince Mohammed bin Salman for lack of ambition. The 30-year-old son of Saudi Arabia's king has laid out plans to sell shares in the world's largest state oil company and create the world's largest sovereign wealth fund. The idea is to help the country diversify its economy, he said in an interview with Bloomberg News. The fund would make investments around the world while helping Saudi Aramco expand beyond oil and into construction, engineering and other industries. It's a bold move, and its scale alone may help Saudis understand the magnitude of the challenge they face. At the same time, it will take more than this to produce the kind of change the country needs. Success will require moving fast on the kinds of political and cultural reforms that usually take decades. A population accustomed to relying on immigrant labor and government assistance will have to work more and pay taxes. At the same time, the state will have to be more responsive to the citizens it's now asking to start businesses and fend for themselves. It will have to provide them with better health care and an educational system that helps them succeed in a new economy. More women will need to work (and drive to work, too). Fewer princes will be able to enjoy luxurious lifestyles at state expense. And when there is political unrest, the government will have to resist the temptation to buy off the opposition. This is a tall order, to put it mildly. For Saudi Arabia to become the kind of regional financial services hub that Prince Mohammed envisions would be harder still. Ultraconservative religious leaders and much of his own family would fiercely oppose the kinds of changes needed to make their country attractive to employees of foreign companies. There's no reason to doubt Prince Mohammed's determination to reshape Saudi Arabia's economy. He has already moved surprisingly quickly to cut waste and subsidies, and is pushing for large-scale privatizations. He deserves support. But he'll also have to show he's ready to do what it takes to succeed, and sooner than he thinks. To contact the senior editor responsible for Bloomberg View’s editorials: David Shipley at davidshipley@bloombe | grupo guitarlumber | |
31/3/2016 07:39 | 30/03/2016 8:04pm Dow Jones News Shell A (LSE:RDSA) Intraday Stock Chart Today : Thursday 31 March 2016 Click Here for more Shell A Charts. By Eric Sylvers and Sarah Kent Italian prosecutors are investigating Royal Dutch Shell PLC's involvement in a Nigerian oil deal, a person familiar with the matter said, drawing the oil company into a corruption probe that has dogged Italy's energy giant Eni SpA. The prosecutors are investigating whether Shell's piece of a $1.3 billion payment to acquire a rich oil field off the coast of Nigeria constituted a bribe, according to a person familiar with the probe. Italian and Dutch police last month raided Shell's headquarters in The Hague looking for evidence that could be used in the case, the person said. Shell on Wednesday confirmed it had received "notice of proceedings" from Italian prosecutors in connection with the Nigerian oil block and that its offices had been "visited" recently by Dutch authorities. The Anglo-Dutch company said it is cooperating with the investigators and is looking into the allegations. Shell and Eni have jointly owned a Nigerian license, known as OPL 245, since 2011 to develop giant Atlantic Ocean oil fields thought to contain nine billion barrels of oil. It is a substantial project for the companies in a country that has been of historic importance to both of them. Shell first pursued the oil fields in 2001, when it bought a stake from Malabu Oil & Gas Ltd.--a Nigerian company that was awarded the license when the African country was under military dictatorship. A new Nigerian government soon rescinded Malabu's license, awarding Shell sole ownership and prompting years of legal disputes. Malabu eventually reached a deal with the Nigerian government that gave it the license back, and attracted Eni as an investor. Shell agreed to drop its own legal challenges to Malabu's ownership and together with Eni acquired the oil license in 2011 with a $1.3 billion payment to the Nigerian government. Italian prosecutors are investigating where that money went and whether Shell and Eni knew its destination, according to Italian court documents. The documents show the government later transferred almost all of the money to Malabu, and say the prosecution "believes that a considerable part of that sum was destined for the remuneration of Nigerian public officials." Italian prosecutors aren't investigating Malabu. In 2014, prosecutors in Milan placed Eni and its chief executive, Claudio Descalzi, under investigation for international corruption in connection to the OPL 245 deal. Eni and Mr. Descalzi have denied wrongdoing. Eni has always maintained that it paid the government directly and isn't responsible for where the money eventually ended up. A Shell spokesman said that any payments for the license were made only to Nigeria's federal government and any questions about where the money ended up should be directed to the government and to Malabu. Eni again denied any wrongdoing on Wednesday. The Wall Street Journal wasn't able to reach Malabu for comment. The long-running dispute over OPL 245 now threatens to cast a new cloud over Shell's investments in Nigeria, where it has been present for 80 years and is the biggest Western investor in the country's oil sector. Last year, Shell got nearly 10% of its output from Nigeria and the country remains a major pillar of its business even though it has sold some onshore assets in the Niger Delta in recent years that have been subject to attacks and theft. Shell, which had already made large investments by 2011 developing the field, paid much less than half of the $1.3 billion acquisition price for a 50% stake in the oil field, according to Italian court documents. Italian prosecutors suspect most of the amount ended up being paid in bribes, potentially making Shell responsible for its part, the documents said. Italian daily Corriere della Sera reported the investigation into Shell's role in the Nigeria deal on Wednesday. Write to Eric Sylvers at eric.sylvers@wsj.com and Sarah Kent at sarah.kent@wsj.com (END) Dow Jones Newswires March 30, 2016 15:49 ET (19:49 GMT) | waldron | |
30/3/2016 20:16 | Shell faces corruption probe over $1bn oil deal in Nigeria Italian officials to investigate company’s role in acquisition of disputed oil block jointly owned with energy group Eni Royal Dutch Shell head office in the Hague, Netherlands. Royal Dutch Shell head office in the Hague, Netherlands. Photograph: Jerry Lampen/Alamy Global development is supported by About this content Frederika Whitehead and agencies @frederikaw Wednesday 30 March 2016 18.10 BST Share on Pinterest Share on LinkedIn Share on Google+ Shares 58 Save for later Italian anti-corruption investigators have opened a formal investigation into Shell’s acquisition of a stake in a $1.09bn (£755m) oil block in Nigeria. Shell co-owns the offshore oil block with the Italian energy group Eni. Prosecutors in Milan have been investigating Eni executives involved in the deal since 2014. It seems Shell is now being dragged into the investigation. The Anglo-Dutch oil giant confirmed on Wednesday that its offices had been “visited” A spokesman for Shell said: “The visit was related to OPL 245, an offshore block in Nigeria that was the subject of a series of long-standing disputes with the federal government of Nigeria. Shell is cooperating with the authorities and is looking into the allegations, which it takes seriously.” The Italian newspaper Corriere della Sera reported that the Dutch Financial Intelligence and Investigation Service (FIOD) and the Dutch public prosecutor had raided the multinational’ The oil block is estimated to contain up to 9bn barrels of crude, and has been at the centre of a series of disputes since 1998. Dan Etete, who was oil minister in Nigeria under the military dictator general Sani Abacha, awarded the oil block to a company called Malabu oil. The field was subsequently sold in 2011 to Eni and Shell. Shell and Eni paid the Nigerian government, but $1.09bn was subsequently sent to Malabu. Shell and Eni both insist that they did not know this would happen. The probe into Eni was triggered after an intermediary in the deal, Emeka Obi, sued Malabu in Britain’s high court. In response to the news that it is being drawn into the investigation a spokesman said: “Shell attaches the greatest importance to business integrity. “It’s one of our core values and is a central tenet of the principles that govern the way we do business. All employees are expected to uphold these principles and failure to do so will result in consequences up to and including dismissal.” | ariane | |
28/3/2016 12:06 | Oil Giants Replaced 75% of Production on Average in 2015 27/03/2016 11:18pm Dow Jones News Shell B (LSE:RDSB) Intraday Stock Chart Today : Monday 28 March 2016 Click Here for more Shell B Charts. By Sarah Kent LONDON--The world's biggest oil companies are draining their petroleum reserves faster than they are replacing them--a symptom of how a deep oil-price decline is reshaping the energy industry's priorities. In 2015, the seven biggest publicly traded Western energy companies, including Exxon Mobil Corp. and Royal Dutch Shell PLC, replaced just 75% of the oil and natural gas they pumped, on average, according to a Wall Street Journal analysis of company data. It was the biggest combined drop in inventory that companies have reported in at least a decade. For Exxon, 2015 marked the first time in more than two decades it didn't fully replace production with new reserves, according to the company. It reported replacing 67% of its 2015 output. In the past, shrinking reserves could send investors and executives into a panic over a company's future prospects. These days, with ultralow oil prices, "it becomes less important" to replenish stockpiles, said Luca Bertelli, chief exploration officer at Italian oil producer Eni SpA. Eni has shifted spending away from high-risk, high-reward projects in favor of squeezing more out of fields that are already producing, he said. That shift shows how producers are responding to low prices by pulling back on new exploration in favor of maximizing profits. The risk is that cutting back on new projects now, when prices are low, could lead to shortages and price spikes in the future. Historically, energy companies spent heavily in the present to find resources for the future--new wells that would replace the barrels they pump every day. When they decide they can extract the oil and gas economically, firms book those resources as proved reserves, untapped inventories to be exploited at a profit down the road. The current oil glut has forced companies to cut spending wherever they can. So they have pulled back on exploratory drilling and spending on new projects. Across the oil sector last year, companies approved just six new developments, according to Morgan Stanley researchers. That is in contrast to the past decade, when high prices led energy firms to explore in far-flung regions. They spent billions of dollars on so-called megaprojects, in part to keep their inventories brimming for decades. And those investments helped to fuel today's market glut. Because of accounting rules, there is another drain on the "proved reserves" that companies book and report to investors: low oil prices. The U.S. Securities and Exchange Commission defines proved reserves as the volume of oil and natural gas that a company can expect to tap at a profit. Some of the reserves companies added are too expensive to extract profitably at today's prices. That has forced some companies to remove barrels from their books, and in some cases to write down the value of those assets. Shell wrote off billions of dollars from the value of its assets last year, and low prices contributed to a decision to cancel a project in Canada's high-cost oil sands. The company didn't replace any of the oil it pumped last year. Overall its reserves shrank by 20%. Despite lower reserves, big oil companies aren't about to run out of crude. Exxon, for instance, retains enough reserves to last 16 years at the current rate of production. And in addition to their still-considerable proved reserves, the companies have access to other resources that could become viable to pump if oil prices rise. Exxon Chief Executive Rex Tillerson told analysts earlier this month the company's failure to fully replace the oil and gas it produced last year reflects its focus on "deploying capital efficiently to create that long-term shareholder value, even if it means interrupting a 21-year trend." SEC rules require oil companies to report "proved" reserves based on an average price each year. On a year-to-year basis, proved reserves can be volatile based on oil-price swings. Last year's sharp price drop forced some companies to reduce their proved reserves, though falling costs helped offset the reductions. Some companies' reserves also benefited from contracts that grant them a larger share of production when prices are low. Among the largest oil companies, only Chevron Corp., Eni and France's Total SA last year added more new barrels than they pumped. BP PLC replaced 61% of its production last year--excluding the impact of sales and acquisitions--and Norway's Statoil ASA replaced 55%. While Shell's reserves fell, the company this year completed a roughly $50 billion acquisition of BG Group PLC that is expected to boost reserves by around 25% from their levels at the end of 2014. Companies' reserve volumes are facing other potential threats beyond low oil prices. Some investors have expressed concern recently that legislation to curb global warming--such as taxing carbon emissions--could hasten a shift to cleaner energy and make fossil fuels more expensive to burn. That could make some oil reserves impossible to pump profitably. Oil companies counter that the world will need large volumes of oil and gas for decades. In a sign of their focus on profitability over finding more oil, some investors have welcomed companies' spending cuts despite the falling reserves. "When the house is burning you're not worrying if you need to paint the outside," said Christopher Wheaton, a fund manager at Allianz Global Investors, which holds stock in several of the large oil companies including Shell, Total and BP. "It's crisis management at the moment." That attitude marks a shift from the early 2000s, when companies responded to investor pressure to grow with aggressive drilling and, in some cases, aggressive accounting. Shell in 2004 admitted to overstating its reserves by more than 20%. Its share price dropped, senior executives left, and the company paid hefty fines. Shell declined to comment. In the years after the Shell scandal, companies raced to find more crude and poured tens of billions of dollars into projects to increase production--helping fuel the current glut and prompting Shell to shift its strategy. In 2014 Shell stopped using growth in oil and gas production as a performance metric for executive bonuses, instead emphasizing return on capital. Write to Sarah Kent at sarah.kent@wsj.com (END) Dow Jones Newswires March 27, 2016 19:03 ET (23:03 GMT) | the grumpy old men | |
28/3/2016 08:41 | Former Centrica boss in talks to buy Shell oil assets Offshore oil rig Shell is under pressure to shift $30bn of oil and gas assets Sponsored by HSBC list of article image 2 For these girls rugby is Brazil's true 'joga bonito' The favela fliers plan to capture the hearts and inspire minds of young sports fans across the globe Jillian Ambrose, business reporter 27 March 2016 • 10:52pm A $5bn investment fund, led by former Centrica boss Sam Laidlaw, is in talks to snap up assets from Shell’s $30bn oil and gas divestment drive. Neptune Oil and Gas was launched last summer to hunt for oil and gas bargains, and has confirmed that it is in talks with Bank of America Merrill Lynch to take advantage of Shell’s ambitious sales plans. A spokesman for the fund said that Shell's assets are being considered as part of its wider strategy to target large-scale investment in distressed assets in the North Sea, North Africa and South East Asia. Former Centrica boss Sam Laidlaw Former Centrica boss Sam Laidlaw Shell is under pressure to push through the hefty disposals in order to shore up its balance sheet after it paid £40bn in the controversial BG Group merger, which was agreed before the full brunt of the oil market’s 80pc collapse slashed value across the sector. Earlier this month Shell said it had appointed investment bank Lazard to advise on its ambitious plans to sell off $30bn-worth of assets in the next three years. PUBLICITÉ inRead invented by Teads So far Bank of America Merrill Lynch and Morgan Stanley have taken the lead on specific asset sales, Shell said. Last year the oil major’s divestments amounted to $5.5bn to bring its 2014-2015 total to $20bn, above its initial target of £15bn for the period. But analysts have cautioned that the firm may struggle to offload further assets as rivals cut back on spending and consider asset sales themselves. oil Shell faces $30bn battle to sell assets after BG takeover Why the Shell-BG mega-deal was risky for the City as well as the oil giants Shell is expected to ‘backload̵ Allianz Global Investors energy boss Chris Wheaton told the Telegraph in February that Shell’s oil and gas production sales will be limited to no more than 10pc of the $30bn target. Even this will be difficult to achieve “when every oil company has assets for sale,” he said. Mr Wheaton said Shell should be able to divest $10bn of “easy to sell” assets in its refining, lubricants and chemicals business interests. Another $10bn of sales could come from selling off pipelines, he said. In addition to its planned asset sales Shell has embarked on an aggressive round of job cuts which will axe 10,000 in total from its global business, most of which have already be made. Around 2,800 job cuts will follow in the next few months, the company has said. A Shell spokesman said the company would not comment on when the jobs cuts will be made, or on specific sales talks carried out by the banks acting on its behalf. | the grumpy old men | |
24/3/2016 18:20 | Inpex, Shell committed to Masela project: SKKMigas Ayomi Amindoni, thejakartapost.com, Jakarta | Business | Thu, March 24 2016, 9:00 PM Energy and Mineral Resources Minister Sudirman Said (right), accompanied by Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) head Amien Sunaryadi (center), gives a statement to the press regarding the Masela block development at the ministry's office in Jakarta on Thursday. (Antara/Teresia May) Energy and Mineral Resources Minister Sudirman Said (right), accompanied by Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) head Amien Sunaryadi (center), gives a statement to the press regarding the Masela block development at the ministry's office in Jakarta on Thursday. (Antara/Teresia May) Business News Jokowi to speed up trans-Kalimantan toll road project Are yellow plates a feasible option for Uber, Grab? More efficient regulatory process needed to ease foreign investment: Kalla After their preferred plan for an offshore scheme was effectively turned down, Inpex and Shell, the investors in the Masela gas block project, remain committed to proceeding with the new onshore development plan for the deepwater block, according to the Upstream Oil and Gas Regulatory Special Task Force (SKKMigas). SKKMigas head Amin Sunaryadi said his office had held a meeting with both investors shortly after President Joko “Jokowi” Widodo announced the chosen development scheme for the project. He asked Inpex to adjust its plan of development (POD), including the time frame. “SKK concluded, after discussion, that Inpex and Shell have no plans to withdraw [as contractors] from the Masela block. They will remain in the block, but they need time to recalculate the onshore scheme,” Amin said during a press conference in Jakarta on Thursday. As for the liquid natural gas (LNG) plant's location, he continued, Inpex and Shell would discuss the matter internally before sending a new work plan to the agency. “We have not discussed the location yet, as the decision was just made yesterday,” Amien said. The Masela block is located in the Arafuru Sea, Maluku. The nearest islands are Selaru and Yamdena islands in the Tanimbar Islands, 180 kilometers from the block. Meanwhile, Wamar Island in Aru Islands is located 600 km from the block. In the initial POD, a floating LNG plant was to be built to process gas from the block. The proposal, defended by Energy and Mineral Resources Minister Sudirman Said, was publicly denounced by Coordinating Maritime Affairs Minister Rizal Ramli, who supported an onshore plant to maximize regional development in the Maluku region. Sudirman instructed SKKMigas to immediately follow up on the decision, ending the seven-month polemic, and to reassess the block development based on the scheme chosen by the President. “I want to underline that [the construction of] this project will take eight to 10 years. It would be unwise to continue the polemic. There must be a reconciliation to let the investors get back to their work,” Sudirman said, adding that SKKMigas must increase communication with regional administrations. Amin added that SKKMigas had also arranged a meeting with representatives of Pertamina and Inpex to discuss the possibility of the state-owned energy company joining the Masela project. “The meeting discussed a potential alliance. Masela requires a domestic market and Pertamina has a great capacity to address that,” he added. The Masela project plan was developed after the signing of a production sharing contract in 1998. The first POD was approved by the Energy and Mineral Resources Ministry with total gas reserves of 6.97 trillion cubic feet (tcf). In 2013, new gas reserves were found, making a total of 10.73 tcf and leading to the POD revision. (ags) - See more at: | waldron |
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