Shell executive set for BG top job
Top Shell executive Huibert Vigeveno is set to become the transitional chief executive of BG Group after the expected completion of the £34billion “mega-merger” of the two oil giants next month
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Shell boss says oil price will more than double
Shell boss Ben van Beurden said he was “very, very confident” oil price would more than double.
Shell’s bid for BG backed by ISS
Oil major Shell’s bid for BG Group has been approve by the ISS (Institutional Shareholder Services). The positive move comes after the company had sought to alleviate shareholder concerns over whether its takeover was still viable at sub $50 oil. ISS, a proxy advisory body, has backed the deal which it said had a “compelling strategic rationale” in the current climate.
Shell, BG close in on merger, set to publish scheme document
Industry giants Shell and BG are zeroing in on their mega-merger.
Shell planning to reduce headcount by another 2,800
Shell has said it will cut 2,800 jobs if its planned takeover of BG Group goes ahead, the company has confirmed.
Shell, BG deal snaps up Chinese clearance
Shell's multi-billion takeover of BG has been given the go-ahead by Chinese officials, surpassing its final clearance hurdle.
Shell, BG deal clears another Australian hurdle
Shell's takeover of BG secured approval from the Australian Foreign Investment Review Board (FIRB), it was today confirmed.
Shell wins approval from major financial backer for BG takeover
Shell has won the backing of one its main shareholders for its takeover of BG Group.
Qatar’s sovereign wealth fund sells Shell shares
Qatar’s sovereign wealth fund has sold shares in Shell and BG worth almost £1billion, raising fresh questions about support for oil firms’ proposed £47billion mega-merger.
Statoil wins new licences offshore Canada
Statoil has made a successful bid for new licence offshore Canada. The Norwegian operator and its partners were the winning bidders for six exploration licences in the Flemish Pass Basin, offshore Newfoundland, and two licence offshore Nova Scotia. The company will operate five licences and also participate in one licence as a partner.
Shell’s shares on the rise after firm increases savings target
Royal Dutch Shell and BG Group were strong risers in the top flight after the oil firm said its £43billion merger with the gas giant was on track to complete in early 2016.
Shell financial boss discusses possible North Sea sales
Shell chief financial officer Simon Henry said the company's Central North Sea assets would continue to be under review as the company moves towards its mega merger with BG Group.
Serica acquires BG and SSE share in North Sea Columbus extension
Serica Energy has reached an agreement with BG International and SSE to transfer equity in the Columbus field in the North Sea.
Shell, BG competition decision delayed in Australia
A decision on Shell's takeover of BG Group by Australia's competition watchdog has been postponed until the middle of November. The move follows an earlier deferral last month by the Australian Competition and Consumer Commission (ACCC). It said last month that market participants had expressed concerns the takeover may harm gas supply competition in eastern Australia.
Australian regulator delays decision on Shell-BG deal
Shell’s $70billion deal to buy BG Group has been queried by Australia's competition regulator who has delayed approval after fears it could reduce the supply of natural gas to local customers and raise prices.
Shell boss says BG acqusition fears have been “exaggerated”
Concern by investors that Shell will not complete its planned acquisition of BG Group has been exaggerated, according to the oil major’s chief executive. According to reports in the Financial Time, Ben Van Beurden told the paper that the two companies’ share prices had been “knocked about” by recent upheaval in stock markets. Van Beurden said both companies’ valuations were driven by “risk aversion at the moment, rather than careful considered pricing.”
Shell stock cheapest in six years for buyers braving takeover doubts
It’s the cheapest opportunity in six years to be a shareholder in Europe’s largest oil and gas company.
Shell and BG mega-merger faces regulatory delay
The £47billion mega-merger between oil giants Shell and BG Group faces regulatory delay after authorities in Australia deferred a decision to let the deal go ahead. Shell said it was “working closely" with the Australian competition regulator after the watchdog delayed a critical decision on clearance for the deal, signalling it has reservations about the potential impact on gas supply. The deferral of the decision until September 17 leaves the clearance from the Australian Competition and Consumer Commission as one of three key approvals still outstanding, alongside China and the UK.
BG Group starts up sixth production in Santos Basin
BG group has achieved first oil from the Cidade de Itaguai floating, production, storage and offloading vessel (FPSO) in the Santos Basin. The company said the FPSO is the sixth unit to start production across the group’s discoveries, offshore Brazil. The vessel will produce from the Iracema North area of the Lula field in the Petrobas-operated S-11 block.
Oil price slump sees BG’s profit slide 65% despite record output
Profits slipped at BG Group in the second quarter despite oil and gas production reaching record levels.
Shell boss says BG takeover is “springboard” to profits
Shell’s chief executive Ben van Beurden said its landmark takeover of BG will act as a “springboard to change Shell into a simpler and more profitable company”.
Shell defends BG deal
Shell has attempted to calm investor jitters over its proposed £55billion takeover of BG Group by saying it expects to save billions of dollars by cutting costs once the deal goes through.
Brazil gives clearance to Shell’s purchase of BG
Brazil gave the green light to oil major Royal Dutch Shell to buy smaller rival BG, advancing the $70 billion merger, the largest of the past decade, closer to completion in early 2016. Shell is set to become the largest foreign operator offshore Brazil after it buys BG, so the clearance from the country was a crucial step to complete the merger on time. Brazil's competition authority CADE said on Wednesday it had given preliminary approval to the transaction "without restrictions." BG said that if no appeals were lodged or referrals made in the next 15 days, CADE’s clearance would become final. A spokesman for Shell confirmed the approval and the 15-day appeals period.
BG chief executive welcomes Shell bid with ‘mixed emotion’
The chief executive of BG Group said he welcomed the takeover bid by oil major Shell with "mixed emotions". The deal, was announced just months after former Statoil boss Helge Lund, took up his new role. Lund said there was still work to be done before the deal would be finalised.
Opinion: With Shell out of the picture, who will dance with BP?
I was off by one letter. If you had told me a year ago that Shell was going to make one of the biggest acquisitions in energy industry history, I would have guessed the target was BP. Instead, Shell plunked down $70 billion for BG after a month of whirlwind talks that reportedly began with a Sunday afternoon phone call between the two top executives.