Shell to address shareholders on upstream reorganisation
Shell's chief executive will address shareholders today, breaking down the oil giant's plans to reorganise its upstream business.
Shell
Shell fails to clean four Nigeria oil spill sites, Amnesty says
Royal Dutch Shell Plc has failed to clean up four oil-spill sites in the crude-producing Niger River delta, three of which an under-resourced Nigerian regulator dealing with leakages said had been decontaminated, Amnesty International said in a report on Tuesday.
Shell handed improvement notice over North Sea gas leak
Oil major Shell has been handed an improvement notice by the HSE (Health and Safety Executive) after a gas leak earlier this year. The company launched an investigation in January this year after a suspected gas leak near to the Curlew FPSO(Floating, Production, Storage and Offloading) vessel in the North Sea. Shell has now been ordered to make improvements by the HSE following the incident.
Shell divests major downstream assets
Shell has sold off parts of its global downstream portfolio in the wake of disappointing financial results.
Oil producers curb mega-project ambitions to focus on US shale
A stubborn 16-month crude rout with no end in sight is driving the largest US oil producers away from costly, high-risk mega-projects long touted as the industry’s future and toward safer shale operations that generate the cash needed to satisfy anxious investors.
BG Group profits drop by 63%, remains positive about Shell merger
BG Group has posted its third quarter results and said it remains on track for its takeover by oil major Shell to be completed early next year. The company reported a third-quarter decline in profit of 63% as it feels the force of the oil price decline. Net income fell to $280million form $759million a year previously. Meanwhile BG said its exploration and production was up 26% while full year guidance has increased to between 680-700kboed.
Shell leads $19 billion of gas, oil writedowns in just one week
More than $19 billion in oil and gas writedowns have been reported in a single week as producers acknowledge what investors already knew. Royal Dutch Shell Plc leads the pack in recognizing that drilling prospects are worth a lot less than they used to. The producer announced its worst loss in 16 years on Thursday, including $8.2 billion in impairments. Southwestern Energy Co., Whiting Petroleum Corp. and Anadarko Petroleum Corp. have likewise written off acreage value. For investors, those charges aren’t much of a surprise after oil tumbled 44 percent in the past year, dragging stock prices along with it. Shell has declined 15 percent in the past 12 months, Whiting is down 73 percent and Anadarko fell 26 percent.
Shell and Barclays drag London markets lower
Blue chip stocks in London were down, dragged lower by worse-than-expected results from Barclays and Royal Dutch Shell.
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.
Shell suffers major financial hit
Industry giant Shell suffered a major financial hit after it recorded a $6.1billion loss in its third quarter earnings report.
Lloyd’s Register report reveals oil and gas execs failing on innovation and collaboration
A new study reveals almost half of oil and gas executives believe they have fallen short of their innovation goals in 2015 - nearly twice as many since early 2014.
Shell shelves Alberta oil-sands project after leaving Arctic
Royal Dutch Shell Plc made its second major strategic change in as many months, saying it will take a $2 billion charge as it shelves an oil-sands project in Alberta after walking away from an Arctic drilling program.
WGPSN staff in consultation over three on,three off on Shell North Sea assets
Wood Group PSN (WGPSN) is in consultation with its staff over a move to three on, three off rotation on Shell assets in the North Sea. The company said it was working with employees who would be affected by the changes as well as the oil major and unions. Earlier this year Shell revealed it would be moving to a three on, three off shift pattern in January next year.
ONS 2016: ConocoPhillips chief to address conference
The boss of ConocoPhillips, Ryan Lance, has been confirmed as a speaker at ONS 2016, which takes place in Stavanger between August 29-September 1.
Transocean and Shell agree to delay deepwater drillships
Transocean and oil major Shell have agreed to delay the operating and delivery contracts for two newbuild ultra deepwater drillships by 12 months each. The company said the agreement had been struck between itself, Shell and Daewoo ShipBuilding & Marine Engineering. The decision affects the Deepwater Pontus and the Deepwater Poseidon.
Opinion: Big oil, environmentalists face common challenge in climate change
Before the Energy Transitions Commission was even launched here in Houston a few weeks ago, environmentalists had already dismissed it as a public relations ploy by major oil companies and other peddlers of fossil fuels. They immediately questioned the climate change credentials of companies like Shell, which is one of the leaders of the initiative to help meet the energy needs of growing world population without damaging the environment beyond repair. Just a few weeks ago, activists from the environmental community took to their kayaks and posed for pictures in front of Shell’s Polar Pioneer rig moored in Seattle. Paddles raised in defiance, they decried the company’s plans to drill in the Arctic.
Video: Timelapse of Shell’s self-installing rig in the Phillipines
This time-lapse shows a self-installing platform which will help unlock more energy from deepwater, in waters off the coast of the Phillipines. It is the first offshore platform designed and built in the country. More than 1,400 Filipino workers have spent two years attempting to make the concept a reality for oil major Shell.
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.
Video: Shell Arctic vessel rescues man and his cat caught in high winds off Alaska
A French man and his cat were rescued from his sailboat after getting stuck in high seas off the coast of Alaska.
Video: Time-lapse of Shell’s incredible Malikai topside
This time-lapse shows the Malikai topside at 40 metres high being skidded a distance of 90km into place. The feat was the world’s highest operation of its kind performed at that scale for the Shell deepwater project.
BP and Shell figures see shares drop
Premier Inn owner Whitbread and InterContinental Hotels saw shares leap higher after well-received figures, but further falls for commodity stocks held back progress on the wider FTSE 100 Index. Whitbread, which also owns Costa Coffee and restaurant brands including Brewers Fayre, saw shares lift more than 2% after a better-than-expected 13.8% hike in half-year profits to £291.3 million. Holiday Inn parent InterContinental also cheered the market with recent solid trading, although the FTSE 100 Index struggled to make headway, edging 12.1 points higher to 6364.4 as miners and oil firms lost more ground following yesterday’s weak China growth figures.
BG Group restarts Everest oil production as platform gets new lease of life
BG Group has restarted production from its Everest platform in the central North Sea after completing the first phase of a £300million major upgrade that will extend its life a further 10 years.
US Government launches new curbs on Arctic exploration
The US government has launched new curbs on oil and gas exploration in Arctic waters. The move comes after oil major Shell announced it was pulling out of its drilling activity in the region. The US Interior department said as well as cancelling two potential Arctic offshore lease sales and would not extend current leases.
Shell drill vessels make return from Arctic waters
Oil major Shell said two drill vessels it had been using before it pulled out of its Arctic operation have safely departed from Alaska. The Noble Discoverer is on its way to Washington State along with the Polar Pioneer after both received a Coast Guard inspection and refuel. Shell said the next destinations for both vessels have not yet been decided upon.
Shell and BP join other blue chips to support to new global climate agreement
Blue-chip companies, including Shell and BP, have given their strong support for the adoption of a new global climate agreement at the UN Climate Change Conference this December in Paris.