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[the grumpy old men] 16/1/2018 18:43

Natural gas has role in UK energy mix
40% of UK primary energy was derived from natural gas in 2016, a 50% increase from 1990, writes Ken Cronin

Letters

Tue 16 Jan 2018 17.15 GMT
Last modified on Tue 16 Jan 2018 17.17 GMT

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Drilling and pumping equipment at Presse Hall Farm, Singleton, Blackpool, Lancashire

Your editorial (Fracking’s day may have passed, 10 January) was keen to downplay the role of onshore gas in the UK’s future energy mix, and was deeply concerning. Natural gas has a role to play for many decades, and this is backed up by the National Grid, the government and other forecasters. 40% of UK primary energy was derived from natural gas in 2016, a 50% increase from 1990. In the UK, a projected annual gas demand of 68bcm in 2030, which is 90% of 2015 economy-wide consumption, is in keeping with the Committee on Climate Change’s fifth carbon budget. Natural gas is the largest energy source for UK homes and businesses, providing us with heat, power and vital feedstocks needed for our industries.

The site at Balcombe is not a site that will use hydraulic fracturing as there is not a need to – that was made clear by the company. You also refer to Ineos wanting to access gas in sensitive areas – this is despite the company confirming they have no plans to access site of special scientific interest (SSSI) areas for the purposes of the survey being carried out in the East Midlands, and this being confirmed by the governing authority, the local council.

Gas-based solutions such as hydrogen and carbon capture and storage have a role in the longer-term decarbonisation of heat and heavy goods transport. However, all of this needs a source of gas. Almost 50% of our gas comes from outside the UK, a significant turnaround from 17 years ago when we were a gas exporter. This is set to rise to nearly 80% in the next 17 years and has massive implications for our energy bills, public purse and climate, given the higher emissions associated with imported gas. It makes no sense environmentally or economically, given the need for gas, to transfer it across oceans and continents when we have it beneath our feet.
Ken Cronin
Chief executive, UK Onshore Oil and Gas

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[waldron] 16/1/2018 16:56

Shell A
2,542.5 -0.95%



Shell B
2,589.5 -0.75%

STILL SNUG IN THE 2575 to 2675 BOX

1st feb soon

[fjgooner] 15/1/2018 23:49

Has any oil / gas company in history been as forward looking as SHELL?

That's why we never ..... :)

[waldron] 15/1/2018 21:36

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Bloomberg/London

Royal Dutch Shell is taking small steps toward a future dominated by electric cars, renewable energy and carbon constraints, demonstrating its intent not to remain solely an oil and gas company. The energy giant agreed last month to purchase First Utility Ltd, the UK’s seventh-largest power provider. Its offshore-wind partnership with Eneco may expand further, amid reports that Shell is considering buying the Dutch utility outright.
Big Oil entering the heavily regulated European power market isn’t a natural fit today. Yet it makes sense for a future in which consumers want charging points alongside gasoline pumps at fuelling stations, and iPhone apps and smart home devices generate vast amounts of energy-use data that itself becomes a valuable commodity.
“We’re on the cusp of a potentially rather fundamental reorganization of the way that consumers purchase and get access to electricity,” said Rick Wheatley, an executive vice president at Xynteo Ltd, which advises oil companies including Shell on long-term sustainable planning. The oil industry is realising “that things may begin to move much faster” in renewables and the electrification of transport, he said.
Shell’s steps toward selling electricity have so far have been modest in comparison to its vast fossil fuels business. The company pumped 1.85mn barrels of oil and 10.47bn cubic feet of natural gas every day in the third quarter, more than enough to supply the whole of the UK. In contrast, First Utility has no generation of its own, instead buying power wholesale from a Shell unit, and supplies just 3% of the country’s residential energy market.
In October, Shell announced it was buying NewMotion, Europe’s largest electric-vehicle charging provider. In late November it reached an agreement with IONITY - a Munich-based venture between BMW Group, Daimler AG, Ford Motor Co and Volkswagen AG - to start charging stations in 10 European nations.
Eneco, which pointedly shuns fossil fuels on the home page of its website, has a portfolio of sustainable energy projects across northwestern Europe. A Shell spokeswoman declined to comment on whether it was considering bidding for the Rotterdam- based utility or the company’s broader plans in the power sector.
Large oil companies are keen to make small investments now as a way to minimise the difficulty of gaining entry to new markets later on, said Richard Chatterton, an oil analyst at Bloomberg New Energy Finance.
“They don’t want to have any potential new opportunity out of their reach,” Chatterton said. These investments “are all about making sure they’re positioned well to take a hold of future opportunities when they become clear.”
BNEF estimates global power demand will surge 58% by 2040, compared with 2016 levels, with $10.2tn of investment needed in the sector. The research group forecasts that during the same period the growth of electric vehicles will displace about 8mn barrels of oil a day – equivalent to the production of Iran and Iraq today.
Chief executive Ben van Beurden, in a post on Shell’s website earlier this month, said he thinks constantly about preparing for a world where fossil fuels are less dominant. He intends to use the New Energies unit, with a budget of as much as $2bn a year, to ensure Shell remains “a company of the future.”

[the white house] 15/1/2018 19:14

Relentless Brent price over 70 right now.Price being held back by a single 40m GBP sale Friday & 16m today, with oil rising unlikely to carry on for too long

[la forge] 15/1/2018 13:51

LOL

I SHELL B BACK

[waldron] 15/1/2018 12:31

IF IN DOUBT HAVE A PENGUIN

[waldron] 15/1/2018 10:11

i guess the probability is or shell B entery into the 2775 to 2875 BOX sooner than expected

[sogoesit] 15/1/2018 09:47

Deutsche Bank raises TP from 2700 to 2800 today rating BUY

[2hoggy] 14/1/2018 22:33

The unions getting into world politics again,why is it they cannot let other low paid workers in third world countries make a living,yes its dangerous but we are talking about a country where life expectancy is very low compared to the west.

Unions like the one who called a strike in Scotland in their last refinery over nothing where the average pay was over £43.000 a year.

I would say to the rmt to keep your nose out of politics of another countrys economics and look after your people at home,some hope!!

[abbotslynn] 13/1/2018 20:45

Oil hitting near time high.

[fangorn2] 13/1/2018 14:32

12th Jan'18:-"Exxon and the big apple's big lawsuit"
Summary

New York City has filed a lawsuit against Exxon Mobil and other major petroleum and gas producers to offset the costs of its climate resiliency projects, which are partially-unfunded.

This latest lawsuit has much in common with New York State's investigation into and California municipalities' lawsuits against Exxon Mobil.

The market has largely ignored these developments given the low probability that any of them will negatively impact Exxon Mobil's finances.

A new front is being opened against the company by environmental groups, however, and investors should expect more lawsuits like these to be filed in the future by cash-strapped coastal municipalities.

New York City Mayor Bill de Blasio made headlines this week with the announcement that the city is suing petroleum and gas majors BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), and Royal Dutch Shell (RDS.A)(RDS.B) for damages resulting from climate change. Specifically, Mr. de Blasio stated that the purpose of the lawsuit is to recoup New York City's expenditures on infrastructure resiliency projects, especially those that have been made in the wake of 2012's Superstorm Sandy. While a specific dollar figure being sought has not been published, the lawsuit suggests that the city is targeting a large sum, stating that $20 billion in resiliency and adaptation investments were launched in response to the storm and the cost of those projects that are still needed "runs to many billions of dollars." 

[fangorn2] 13/1/2018 14:12

A generous dividend with room to grow
Summary

Shares in Shell have rallied strongly in the past six months, taking them to levels not seen since 2013.

Management has plans to increase free cash flow by a significant amount, even with oil prices staying in the mid-$60 a barrel range.

I believe Shell's shares still offer long-term dividend investors good value with strong future growth prospects.

[waldron] 13/1/2018 10:52

Market Chatter: Shell, Total Consider Bid for Dutch Utility Eneco Group
January 12, 2018, 03:40:00 PM EDT By MT Newswires, MT Newswires

Shutterstock photo

Royal Dutch Shell ( RDS.A ) ( RDS.B ), an oil giant, is making preparations to bid for green energy firm Eneco whose owners are made up of 53 local councils, the Telegraaf reported on Friday, citing unidentified sources.

Shell's French competitor Total ( TOT ) also contacted advisors this month about a possible offer, the Telegraaf reported.

Other potential buyers include investment company HAL, pension fund PGGM, Japan's Mitsubishi, Austrian energy group Vebund, private equity group CVC and French energy titan Engie, according to the report.

[waldron] 12/1/2018 16:57

Shell A
2,573.5 +0.12%



Shell B
2,603 -0.15%

CONFIRMED SNUG IN THE 2575 to 2675 BOX

ENJOY YOUR WEEKEND

[ariane] 12/1/2018 11:30

fjg

no mention of those neutral brokers and no mention of ubs

thus choice selective

Will be interesting to see what HSBC comes up with after February 1st

[ariane] 12/1/2018 11:20

thank you fjg

no need for kisses if you commence with a capital H

Have a most enjoyable day and weekend



BARCLAYS DOES NOT COUNT

LOL