Shell Share Discussion Threads

[stewart64] 22/4/2019 16:46

Up 1.9% in New York from 4:35pm Thursday BST...currently looking at £25.30 opening.

[waldron] 22/4/2019 15:26

Oil hits nearly 6-month highs as US says it will end Iran sanctions waivers
Published Mon, Apr 22 2019 • 1:22 AM EDT Updated an hour ago
Tom DiChristopher
@tdichristopher
Weizhen Tan
@weizent




Key Points

The Trump administration will reportedly announce that it will no longer grant sanctions waivers to any country that is currently importing Iranian oil.

The move threatens to wipe roughly 1 million barrels per day off the market

The move comes as oil markets are already tightening and the cost of crude and gasoline is on the rise.

[zho] 22/4/2019 14:38

>>So no waiver extension means another year of waivers>>

Is that right?

From Bloomberg:

Crude clung to gains after the Trump administration said it will not renew Iran oil waivers once they expire in May.

Futures in London jumped as much as 3.3 percent to the highest intraday price since early November in anticipation of the statement on Monday before trading near $74 a barrel after the announcement.

U.S. Secretary of State Mike Pompeo said the Trump administration will no longer grant exemptions on waivers and the U.S., Saudi Arabia and the United Arab Emirates will ensure an “appropriate supply” of oil. The current set of waivers -- issued to China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey -- expire May 2.

[crossing_the_rubicon] 22/4/2019 14:28

STATE DEPT OFFICIAL: IRAN WAIVER WIND DOWN PERIOD WILL BE YEAR
So no waiver extension means another year of waivers

[crossing_the_rubicon] 22/4/2019 09:44

Certainly an interesting development

Shell’s power game
The oversupplied gas market provides the logic for the company’s move downstream

[florenceorbis] 22/4/2019 09:09

Sohar Port, Shell join hands to build solar power plant
[Sohar Port, Shell join hands to build solar power plant]
Share
Muscat Daily staff writer
April 22, 2019
Muscat -

In a significant effort to tap into the sultanate’s renewable energy potential, Sohar Port and Freezone recently entered into a land lease agreement with Shell Development Oman. This agreement means that businesses in the Sohar Freezone could be powered by solar photovoltaic (PV) projects instead of gas.

Last week, H E Laetitia van Asch, Ambassador of the Netherlands to Oman, hosted a ceremony to officiate this collaboration at the Crowne Plaza OCEC in Muscat.

Mark Geilenkirchen, CEO of Sohar Port and Freezone said, “Sustainability is one of our key values in driving development at Sohar Port and Freezone and this partnership with Shell will create solar powered solutions that are the first-of-its-kind in the country. This also marks an incredible milestone and the first step in our proactive long-term programme, that we have already begun implementing, to transform our 4,500-hectare development into a ‘green Freezone’. We hope that the changes we are implementing today will encourage current clients and future investors to adopt cleaner technologies and sustainable practices tomorrow.”

Sohar Port and Freezone will allocate 600 hectares of land for solar plants under development, with capacities ranging from 10MW up to 40MV. The pioneering project of 25MW will be focused on providing dedicated supply to Al Tamman Indsil Ferrochrome (ATIFC), and the entire development will create long lasting economic value for the nation and the companies within the freezone.

Chris Breeze, Shell Oman country chairman, stated, “Shaping a more sustainable energy future for Oman is everybody’s responsibility. It requires us to work towards reducing emissions, tackling climate change, and ultimately changing the way energy is produced and efficiently consumed. Shell is proud to be involved in Oman’s energy transition. These solar PV projects will free up natural gas resources for better economic use, support the green agenda of the Sohar freezone, and enable further economic development.”

H E Laetitia stated, “I am proud of this collaboration between Sohar Port and Freezone, Shell and ATIFC in Oman. It is an excellent example of how Dutch borne sustainable and innovative solutions in renewable energy and logistics is able to contribute simultaneously to turning the economic diversification and its energy transition into a success.”

[florenceorbis] 22/4/2019 08:55

Aramco buys Shell's 50% stake in Saudi SASREF refinery for $631 mil

Author Claudia Carpenter Editor Norazlina Jumaat Commodity Oil

Singapore — Saudi Arabian Oil Co. said Sunday it will buy Royal Dutch Shell's 50% interest in the SASREF refinery in Jubail Industrial City, Saudi Arabia, for $631 million after working together for four decades.

Aramco will take full ownership of the 305,000 b/d refinery and integrate it into its existing downstream operations, according to the statement. The refinery mainly produces LPG, naphtha, kerosene, diesel, fuel oil and sulphur. The sale is expected to be completed later this year, subject to regulatory approval.

Aramco is expanding its refining operations and petrochemical output. Last month, it signed a deal to acquire a 70% majority stake in Saudi giant petrochemical company SABIC for $69.1 billion. Aramco plans to increase its global refining capacity to 8 million-10 million b/d by 2030, from its current 4.9 million b/d. Of the planned capacity, about 2 million-3 million b/d will be converted to petrochemical products.

"SASREF will continue to be a critical facility in our refining and chemicals business and we look forward to further optimizing its performance and long term viability," Aramco's senior vice-president for downstream Abdulaziz Al-Judaimi said in the statement.

Shell will "continue to explore new business opportunites," John Abbott, Shell's downstream director, said. The sale is part of Shell's efforts to "focus its refining portfolio, integrating with Shell trading hubs and chemicals."

-- Claudia Carpenter, [e-mail]

-- Edited by Norazlina Jumaat, [e-mail]

[waldron] 22/4/2019 07:19

Asia markets mostly fall; oil prices surge on report that US is set to end Iran sanctions waivers
Published Sun, Apr 21 2019 • 7:40 PM EDT Updated an hour ago
Eustance Huang
@EustanceHuang




Key Points

Stocks in Asia mostly traded lower in the afternoon.
Crude prices surged on a report that the U.S. will cease to grant sanctions waivers to countries that import oil from Iran.

[waldron] 22/4/2019 07:17

Oil prices spike more than 3% on reports that US will end waivers for Iran sanctions
Published an hour ago
Weizhen Tan
@weizent




Key Points

Brent crude futures surged more than 3 percent to over $74 per barrel on Monday morning during Asia hours, while U.S. crude futures rose around 2.67 percent to $65.71 per barrel.
The oil spike followed reports that U.S. Secretary of State Mike Pompeo will announce that from May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate.

[jrphoenixw2] 21/4/2019 16:51

^I was going to post the same article...
Plenty of money to continue the buy-backs!

[sarkasm] 21/4/2019 07:59

Shell demands taxpayer cash for carbon storage

New technology to cut emissions needs funding: oil major
Rachel Millard

April 21 2019, 12:01am, The Sunday Times

Economics
Conservative Party
Energy

Drax is piloting a carbon-capture project in North Yorkshire
Drax is piloting a carbon-capture project in North Yorkshire
GETTY IMAGES

The FTSE 100 oil giant Shell has called for taxpayer subsidies to help it cut pollution by trapping carbon dioxide emissions underground.

Carbon capture and storage is seen by many as vital to meeting global pollution reduction targets. It involves “scrubbingR21; pollutants from factory and power station emissions, transporting the gas to special locations and storing it to avoid damage to the atmosphere.

The government is ploughing millions of pounds into getting the technology up and running by the mid-2020s, but the question of who pays to help combat climate change has proved controversial, with complaints over increases to electricity bills to subsidise renewable energy and pay for smart meters.

However, subsidies have proved effective. Renewables, such as wind and solar, provided an estimated 27.5%…

[grupo guitarlumber] 19/4/2019 09:46

Here are the top risk events facing global oil markets
Published Thu, Apr 18 2019 • 9:18 AM EDT
Sam Meredith
@smeredith19




Key Points

Oil prices have soared since the start of the year, supported by ongoing OPEC-led supply cuts, escalating fighting in Libya and U.S. sanctions on Iran and Venezuela.
Energy analysts tend to agree that a flurry of intensifying risk indicators in the oil market is a cause for concern.
But, when it comes to identifying potentially the most disruptive risk event, the consensus ends.

[florenceorbis] 19/4/2019 09:04

Oil traders wait for Trump action on Iran
Multinational

LONDON, April 19, 2019 – The guessing game begins. With exactly two weeks to the expiration of the US sanction waivers on Iran, oil bulls are holding tight to see which way President Donald Trump will lean.

Most of Thursday’s action in crude was as exciting as watching paint dry before the market finally mustered a higher close. Many market participants already away for the Good Friday break. Those remaining did little more than move the West Texas Intermediate and Brent benchmarks by a few cents, musing on whether Saudi Arabia will announce a suspension or ease in production cuts before the May 2 decision on Iran.

New York-traded WTI settled up 24 cents, or 0.4%, at 64 per barrel.

London-tradedBrent rose by 38 cents, or 0.5%, to $72 by 2:43 PM ET.

For the week, WTI was up 0.8% while Brent rose 1.7%. Year to date, the US benchmark showed a gain of 41% against a 34% rise for its U.K. peer.

Africa Energy Forum (AEF)

“The oil trade is still looking for a sign from the Trump administration as to whether they will look to extend waivers to buyers of Iranian oil,” said Phil Flynn, senior energy analyst at the Price Futures Group in Chicago. “Will he, or won’t he?”

Analysts say the more the concessions the Saudis make on production cuts, the less inclined Trump will be to give waivers to importers of Iranian oil.

Riyadh and Washington have a decades-long history of cooperating in curbing Iran’s rise as a Middle East power. They also have other motivations for acting against Tehran.

For the Saudis, it is decades of enmity with a country that ironically counts as one of the most important members of OPEC.

For Trump, it will be an extension of his mission to punish the Rouhani regime, which he accuses of terror and of getting an undeserved deal from President Barack Obama to export its oil in return for what he deemed soft curbs on its nuclear program.

While Trump has kept up with his anti-Iran rhetoric in his 2-1/2 years in office, he is also aware that wiping out Tehran’s oil from the market will only exacerbate a supply shortage caused by sanctions that Washington also has on Venezuelan oi, and production outages in Libya brought on by a civil war.

Running contrary to Iran’s sanctions game is also Trump’s need to keep US gas prices low. Pump prices of gasoline nationally have risen by around 25% this year to around $2.84 a gallon, according AAA. The average price of gasoline is more than $4 a gallon in California.

[spud] 18/4/2019 17:42

Too late, started already & feel ill... :-(spud

[waldron] 18/4/2019 17:37

HAPPY EASTER

do not eat too much chocolate

[waldron] 18/4/2019 17:36

FTSE 100
7,459.88 -0.15%
Dow Jones
26,551.61 +0.39%
CAC 40
5,580.38 +0.31%

Brent Crude Oil NYMEX 71.57 -0.07%
Gasoline NYMEX 2.02 +0.27%
Natural Gas NYMEX 2.50 -0.64%

(WTI) - 18/04 18:14:02
63.54 USD -0.25%


Eni
15.432 +0.01%



Total
50.3 +0.42%


Engie
13.335 +0.26%

Orange
14.625 +0.38%



BP
567.7 -0.75%


Shell A
2,466.5 -0.60%


Shell B
2,484 -0.70%

[florenceorbis] 18/4/2019 15:51

Apr 18, 2019

A Federal Capital Territory (FCT) High Court in Jabi has granted the prayers of the Economic and Financial Crimes Commission (EFCC) for a warrant of arrest against Nigerian officials implicated in the controversial Malabu Oil scandal.

The officials include Dan Etete, a former petroleum minister, and Mohammed Adoke, a former justice minister.

Also declared wanted were Raph Wetzels, Casula Roberto, Pujato Stefano, and Burrato Sebastiano.

They were meant to be arraigned before Justice D.Z Senchi on Wednesday, to face charges related to the scandal, but failed to show up.

Backstory
The EFCC had since 2017 pressed charges against Shell Nigeria Exploration Production Co. Ltd, Nigeria Agip Exploration Limited, Eni Spa, Raph Wetzels, Casula Roberto, Pujato Stefeno, Burrato Sebastiano, Duazia Louya Etete (aka Dan Etete), Mohammed Bello Adoke, Aliyu Abubakar and Malabu Oil & Gas Limited.

All the defendants repeatedly failed to appear before the court.

Following their repeated absence in court, the EFCC through its counsel, Aliyu Yusuf, brought a motion ex parte praying the court for a warrant of their arrest, and an order for leave to execute the warrant outside of the jurisdiction of the court.

On Wednesday, according to the EFCC, Judge Senchi granted the prayers of the anti-graft agency, and ruled that the Nigeria Police, the INTERPOL and any other law enforcement agency ”should arrest them anywhere they were found including outside jurisdiction of the Federal Capital Territory, (FCT) High Court”.

Although Mr Etete has not appeared in a Nigerian court, his lawyer has appeared during trials at the Italian court.

The matter was adjourned to July 11, 2019, for further hearing.

Scandal
The Malabu scandal involved the transfer of about $1.1 billion by oil multinationals, Shell and ENI, through the Nigerian government to accounts controlled by Mr Etete.

From accounts controlled by Mr Etete, about half the money ($520 million) went to the accounts of companies controlled by Abubakar Aliyu, popularly known in Nigeria as the owner of AA oil.

Anti-corruption investigators and activists suspect he fronted for top officials of the Goodluck Jonathan administration as well of officials of Shell and ENI.

The transaction was authorised in 2011 by Mr Jonathan through some of his cabinet ministers, and the money was payment for OPL 245, one of Nigeria’s richest oil blocks.

Although Shell and ENI initially claimed they did not know the money would end up with Mr Etete and his cronies, evidence has shown that claim to be false.

Shell, Eni, Mr Etete, Mr Aliyu and several officials of the oil firms are being prosecuted in Italy for their roles in the scandal.

Last June, PREMIUM TIMES reported how Mr Etete acquired luxury properties in Dubai with funds believed to have been sourced from the controversial deal.

Last week, the EFCC was urged to seize a private jet owned by Mr Etete.

Four international anti-corruption crusaders appealed last Thursday in a joint petition sent from Italy calling for the retrieval and forfeiture of the jet by the Nigerian government.

The crusaders claimed that the private jet owned by Mr Etete was purchased with illicit funds. The jet is said to be worth $56 million as at the time it was purchased.



Source: Premium Times

[grupo] 18/4/2019 12:35

chron



Shell awards contract to Halliburton for offshore project in Brazil

By Sergio Chapa Updated 10:40 am CDT, Wednesday, April 17, 2019

Halliburton CEO Jeff Miller. Dutch oil giant Shell has awarded a contract to Halliburton for an offshore project in Brazil. Photo: Dave Rossman / 2018 Dave Rossman

Photo: Dave Rossman

Halliburton CEO Jeff Miller. Dutch oil giant Shell has awarded a contract to Halliburton for an offshore project in Brazil.

Royal Dutch Shell has awarded a three-year contract to Houston oilfield service company Halliburton to explore and develop two projects off the coast of Brazil.

The projects are located in Brazil's Campos and Santos Basins. The Campos Basin is 90 miles off the coast of the State of Campos while the Santos Basin is about 140 miles southeast of Sao Paulo.

Under the contract, Halliburton will provide drilling service. The deal includes an option for a two-year extension.

"Our integrated services model is designed to help accelerate new field development, reduce drilling and completion costs and increase recovery through the utilization of our innovative technologies and basin insight," Halliburton Vice President of Brazil Anouar Fraija said in a statement. "We are excited to win this award and collaborate with Shell to deliver integrated solutions that maximize their asset value."

Halliburton at 100: From wagons and mules to 21st century technology

A vibrant nation of more than 209 million people, Brazil holds nearly unlimited natural resources that include large reserves of oil and natural gas.

Halliburton has had a presence in the South American nation for decades and maintains a technology center in Rio de Janeiro. The center specializes in deepwater technology and training.

Fuel Fix: Get daily energy news headlines in your inbox

Founded in 1919 and headquartered in Houston, Halliburton employs more than 60,000 people in 80 nations.

The company reported a $1.66 billion profit on $24 billion of revenue during 2018.