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RDSB Shell Plc

1,894.60
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Shell Plc LSE:RDSB London Ordinary Share GB00B03MM408 'B' ORD EUR0.07
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1,894.60 1,900.40 1,901.40 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Shell Share Discussion Threads

Showing 12376 to 12393 of 27075 messages
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DateSubjectAuthorDiscuss
08/3/2019
15:06
Shares in a number of U.K. mid- and small-cap energy companies fell Friday after Norway's government recommended its $1 trillion oil fund stop investing in exploration and production equities.

Norwegian Finance Minister Siv Jensen said the objective is to reduce Norway's vulnerability to a permanent oil-price decline.

The government recommended that the Government Pension Fund Global, which is currently worth more than 8.90 trillion Norwegian Kroner ($1.02 trillion), start selling shares in companies that explore and produce oil and gas.

The finance minister said organizations classified as exploration and production companies by the index provider FTSE Russell will be excluded from the fund's benchmark index and investment universe.

Companies defined as exploration and production businesses in the fund include Tullow Oil PLC (TLW.LN) and Premier Oil PLC (PMO.LN), in which the oil fund holds respective 2.1% and 1.8% stakes.

The oil fund holds around $37 billion in oil-and-gas stocks, and Ms. Jensen said a permanent reduction in the oil price will have long-term implications for public finances.

The exclusion of energy stocks in the fund will serve to further reduce the oil-price risk, the government said.

However, Norway won't look to pull out of integrated companies that have businesses throughout the value chain of the oil-and-gas industry.

Examples of integrated U.K. oil-and-gas companies include Royal Dutch Shell PLC (RDSB.LN) and BP PLC (BP.LN).

Ms. Jensen said almost all the growth in listed renewable energy over the next decade will be driven by companies that do not have renewable energy as their main business.

"The fund should be able to participate in this growth," she said.

The Norwegian government isn't planning to sell shares relating to its direct interest in Equinor ASA (EQNR.OS), Ms. Jensen said.

At 1350 GMT shares in Tullow Oil and Premier Oil were down 3% and 3.8% respectively at 220.20 pence and 76.45 pence each.



Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin



(END) Dow Jones Newswires

March 08, 2019 09:22 ET (14:22 GMT)

maywillow
08/3/2019
14:18
The BBC was right, just depends how far down the article you want to read.
poikka
08/3/2019
13:09
Soon be in top up territory sub 23£. I can only say the market provides always opportunity for people that have a longer term view. Shell remains the backbone of my early retirement fund. I don’t see a safer way to get 6% returns and control my own fund
tornado12
08/3/2019
11:58
you seem to love that harbour


enjoy

maywillow
08/3/2019
11:23
Bearing in mind that the fund owns only around 2 percent of Royal Dutch Shell Plc, and that any sell-down would have taken years, it wouldn't have had a massive effect anyway - especially in light of Shell's buyback program.

The fact that it's now been confirmed not to be happening at all (for "the biggest integrated producers"), strongly suggests to me that large speculative shorts were positioned ahead of this morning's decision. I'd imagine that these will start to unwind very rapidly as this news sinks in.

Anyhow, it's a beautiful sunny day here, so I'm off down to the harbour side.

Have a great weekend all.

FJ

fjgooner
08/3/2019
11:16
BBC not quite right - IOCs are not included.



Norway Gives Wealth Fund Approval to Cut Some Oil

By
Mikael Holter

‎08‎ ‎March‎ ‎2019‎ ‎10‎:‎52 Updated on ‎08‎ ‎March‎ ‎2019‎ ‎11‎:‎10

Norway took a half step toward divesting oil and gas stocks in its wealth fund, saying it approved selling pure exploration companies while sparing the biggest integrated producers.

“The objective is to reduce the vulnerability of our common wealth to a permanent oil price decline,” Finance Minister Siv Jensen said in a statement. “Hence, it is more accurate to sell companies which explore and produce oil and gas, rather than selling a broadly diversified energy sector.”

The proposal, which rattled global markets when it was revealed back in 2017, was then hailed as a potential huge step by climate activists. It has also been a hot-button issue in Norway, which is seeking to project an image as a responsible environmental steward while pumping oil and gas at a fast clip.

In fact, the $1 trillion fund has been built up over the past two decades from oil and gas revenue and Norway also uses large chunks of income from its offshore fields each year to pay for its lavish welfare state.

The move further underscores the changing political climate in Norway, where opposition to oil and gas exploration is on the rise. Prime Minister Erna Solberg’s Conservative Party has been a long-time friend to the oil industry.

fjgooner
08/3/2019
11:14
... and Bloomberg:

Norway Gives Wealth Fund Approval to Cut Some Oil

zho
08/3/2019
11:06
Bloomberg TV - World’s biggest sovereign wealth has decide NOT to dump integrated oil companies such as Shell.
fjgooner
08/3/2019
09:20
The Brent of Natural Gas? ICE has Big Plans for Its Dutch Market
By Mathew Carr
8 mars 2019 à 06:00 UTC+1

Volume jumps 13-fold in past four years as U.K. trade shrinks
EC seeks to challenge role of U.S. dollar in energy markets

Intercontinental Exchange Inc. says its Dutch natural gas market has the potential to become a world beater in energy trading.

Sogoesit
8 Mar '19 - 09:09 - 5274 of 5274

Thanks

have a great day and weekend

maywillow
08/3/2019
09:09
New market for pricing gas:
sogoesit
08/3/2019
07:51
European markets seen lower after ECB's Draghi announces further stimulus

Investors are still digesting an announcement from the European Central Bank (ECB) Thursday. President Mario Draghi announced a fresh round of loans to boost lending in euro zone banks and, thus, stimulate the real economy.
In terms of data, there will be consumer inflation expectations in the U.K. at 9.30 a.m.

Silvia Amaro | @Silvia_Amaro
Published 42 Mins Ago CNBC.com





Stocks in Europe are set to start Friday's session lower, as investors are still digesting news of further stimulus in the euro zone.

The FTSE 100 is seen down by 47 points at 7,110; the DAX 30 is set to open lower by 67 points at 11,450; and the CAC 40 is set to start off by 34 points at 5,233; according to IG.

waldron
07/3/2019
17:28
FTSE 100
7,157.55 -0.53%
Dow Jones
25,480.67 -0.75%
CAC 40
5,267.92 -0.39%


Brent Crude Oil NYMEX 66.25 +0.39%
Gasoline NYMEX 1.80 +0.68%
Natural Gas NYMEX 2.83 -0.39%

(WTI) - 07/03 18:05:55
56.59 USD +0.84%



Eni
15.28 +0.00%


Total
51.02 +0.00%

Engie
13.28 +1.26%

Orange
13.425 +1.24%


BP
540.7 +0.50%

Shell A
2,362 -0.55%


Shell B
2,377 -0.42%

waldron
07/3/2019
12:06
US stock futures point to lower open as Wall Street braces for fourth straight decline

Wall Street ended Wednesday's session lower, posting its third consecutive decline. Investors are eager to know details from trade negotiations between the U.S. and China.
Data out on Wednesday showed that the U.S. trade deficit remains a problem. It hit a 10-year high in December.

Silvia Amaro | @Silvia_Amaro
Published 4 Hours Ago Updated 13 Mins Ago

sarkasm
07/3/2019
11:56
Home | Global
Shell Transitions To Clean Renewable Energy
By Jan Cortes
Mar 07, 2019 07:35 PM

As climate change and global warming slowly become more of a prevalent issue and less of another side effect of the modern world, the push for becoming more environmentally responsible is now coming from all sectors of the world. In fact, you can now expect it from the last place you'd expect - oil and gas companies.

That's right. As Yuri Sebregts, chief technology officer and executive vice president technology for Shell, recently discussed what is essentially the company's shift towards green energy. Per the release, Sebregts discussed this with student moderators last Tuesday at the Avaya Auditorium.

sarkasm
07/3/2019
11:50
I wonder who will be the principal movie stars in perhaps the forthcoming film

and whether the plot will have a happy ending

YOU WILL NEVER SHELLENI

sarkasm
07/3/2019
11:44
At last ...

"Under questioning Wednesday, Granier-Deferre testified that “management” referred not to bosses of Shell and Eni, but to employees of another company called Malabu Oil and Gas Ltd."

-------------------

Witness in Shell-Eni Nigeria trial withdraws graft accusations

Written by Bloomberg - 07/03/2019 7:10 am




A retired Swiss oil executive who previously said he had knowledge of illicit dealings over a Nigerian oil block involving Royal Dutch Shell Plc and Eni SpA reversed his statements at a trial in Milan Wednesday.

“I’ve never had contact with Shell,” ex-executive Richard Granier-Deferre said. “I’ve never had relations with people from Eni in my entire career.”

The trial centers on Oil Prospecting License 245, offshore Nigeria, which has snowballed into one of the largest scandals over alleged corruption in the industry’s history. Italian prosecutors are arguing that when Shell and Eni paid more than $1 billion to settle legal disputes over the block and acquire rights to develop it, much of that payment went into bribes and kickbacks. On Friday, Shell said it is also facing criminal charges in its home country of The Netherlands over the block.

As Milan prosecutors grilled Granier-Deferre Wednesday via teleconference, he said those previous statements were made under “pressure” and he has no evidence the oil companies participated in illegal payments.

The reversal is a setback for prosecutors. Shell and Eni have also argued the transaction was appropriate and legal. Milan prosecutors weren’t immediately available to comment.

Previous Conviction

Granier-Deferre was convicted of money laundering in a French court in 2007 along with former Nigerian oil minister Dan Etete, who is a defendant in a criminal trial which is ongoing in a Milan court, where prosecutors allege that he and others personally benefited from a $1.3 billion 2011 oil license transaction with Shell and Eni. Etete has denied wrongdoing in the case.

In 2016, Granier-Deferre made statements to Swiss investigators suggesting Shell and Eni executives were part of a network of bribes and kickbacks, and drew a flow chart in 2010 to show how the arrangements were structured.

Prosecutors were hoping Granier-Deferre, through his connection with Etete and work on OPL 245, had insight into how payment networks operated. In 2016, Granier-Deferre told investigators that the flow chart he drew demonstrated corruption. It shows arrows pointing from an entity called “X” to another called “EVP” to a group called “management” and further on to “M1” and “M2.”

Under questioning Wednesday, Granier-Deferre testified that “management” referred not to bosses of Shell and Eni, but to employees of another company called Malabu Oil and Gas Ltd. Malabu was the previous owner of OPL 245. He didn’t clarify what EVP meant.

Prosecutors also asked Granier-Deferre about a message sent to Etete in 2011 that says: “My Dearest Papa, I have just been advised of the arrival of a beautiful baby of 6.1kg. This news would be a total satisfaction for me.” Granier-Deferre received a $6.1 million payment related to OPL 245 around that time, prosecutors said.

In court, Granier-Deferre said the $6.1 million payment was to do with OPL 245, but was from a company called Rocky Top. He said he was unaware of who owned Rocky Top and that the payment was for a legitimate invoice.

In emailed responses to questions about Granier-Deferre’s testimony, representatives for Shell and Eni both reiterated that payments made over OPL 245 were appropriate. In a statement, a Shell spokeswoman said if there were bribes paid around the license, the company was unaware of them.

“There is no place for bribery or corruption in our company,” the Shell spokeswoman said.

fjgooner
07/3/2019
10:34
Let's leave the rally until after the dividend is paid as I reinvest mine!
10acious
07/3/2019
09:20
Oil rising against the general Market gloom today which is unusual. So not much chance of a rally today, really need optimism on all fronts.
stewart64
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