Oil union says shell talks to resume in a week amid strike
United Steelworkers and Royal Dutch Shell Plc will resume labor negotiations in a week amid the largest U.S. refinery strike in more than three decades.
Shell
Opinion: Shell’s Brent Delta activity shows we are on right path
By unveiling phase one of its plans for the Brent Delta this week, Shell has certainly propelled decommissioning into the headlines and consciousness of everyone, whether they’re directly involved with oil and gas or otherwise. By its very nature, North Sea decommissioning is a developing business that is new to many, and misinterpreted by even more. It’s important right now to make it clear that it is not about the premature closure of the North Sea oil and gas industry. In reality, decommissioning is a developing sector that is full of opportunity; the opportunity to win business and opportunities to problem-solve through innovation.
Shell to launch “significant and complex decommissioning” project
Oil giant Shell is set to launch a consultation on one of the most significant and complex decommissioning projects in the North Sea yet - and which is sure to stir controversy as the ten year, multi-billion pound plan progresses. Later this month the firm will take the first step towards decommissioning the Brent Delta, one of four oil rigs on the field 115milles north-east of Shetland that has producing since 1976.
Shell eyes Brent process approval
Shell will shortly be seeking final approval to begin decommissioning the Brent oil and gas field. The energy giant is proposing to lift the 23,500-tonne top section of the Brent Delta platform in the first stage of the process. The Brent field, north east of the Shetland Islands, has produced about 10% of all UK North Sea oil and gas since production began in 1976. Its four platforms and their related infrastructure are the subject of a planned decommissioning programme over the coming decade. A 30-day public consultation on Shell’s plans to start the process will begin on Monday February 16.
Shell boss urges UK government to ‘get on’ with North Sea recovery plans
Royal Dutch Shell boss Ben van Beurden issued a plea to UK policy makers to “get on” with plans to maximise economic recovery in the North Sea yesterday. He also called on the UK government to review its supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic. Mr van Beurden said at a conference in London: “It needs to be looked at as the tax position is hindering viability.”
Greenpeace criticises Shell’s Arctic plan
Environmentalists have hit out at Shell’s plans to drill in the Arctic this year. The oil giant said it wanted to pursue Arctic oil exploration if it gets the right permits, as it announced it was cutting global spending over the next three years by almost £10 billion. The new bid to drill in the Alaskan Arctic comes despite previous problems culminating in its drill vessel the Kulluk running aground as it was being towed across the Gulf of Alaska in 2012.
Shell results send FTSE 100 lower
Weaker-than-expected profits from Royal Dutch Shell triggered a sell off for oil stocks and left the FTSE 100 Index sharply lower today. The oil giant’s shares were down by more than 3% - off 77.5p to 2170.5p - despite a 12% rise in underlying profits to $3.26 billion (£2.15 billion) for the final quarter of 2014. The company, which has been hit by a sharp fall in Brent crude prices since last summer, also said it planned to cut spending by 15 billion US dollars (£9.9 billion) over the next three years.
Energy taskforce ‘sets ball rolling’
A taskforce formed by First Minister Nicola Sturgeon to deal with job losses in the North Sea will meet every month, it was announced yesterday. Industry and public sector leaders met with taskforce chairwoman Lena Wilson in a secret meeting at Aberdeen’s Ardoe House hotel yesterday to discuss job cuts which could affect thousands of North Sea workers. The location of the meeting was kept quiet in an effort to ensure the proceedings remained private. The Scottish Government has not revealed who the members of the task force panel are, although a list of companies including BP, Aker, Petrofac and Wood Group are said to have provided representatives.
Shell to reduce spending by $15billion
Oil major Shell will cut its spending by $15billion over the next three years. The move was made on the back of falling oil prices during the last six months. Despite this, Shell had posted an increase in profits for the last three months of 2014, which jumped from $2.2billion in the same period a year earlier to $4.2billion.
Shell signs $11billion deal for Iraqi petrochemical plant
Shell has signed a deal with Iraq worth $11billion to build a petrochemicals plant. The agreement was announced by Industry Minister for the country, Nasser al-Esawi, who said the Nibras complex was expected to come on line within the next five to six years. The southern oil hub in the Basra region would make it the largest petrochemical producer in the Middle East.
Crude at $49: The new reality for big oil companies
Financial results from a fourth quarter that saw the collapse of the crude market will provide a window into how the world’s biggest oil companies are adjusting to a new reality of slowing growth and low prices. Oil that topped $115 a barrel as recently as June has been trading below $50 a barrel since the first week of the year, portending a bleak 2015 for the world’s five so-called supermajors -- Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp., Total SA and BP Plc. The companies, whose businesses combine oil and natural gas exploration with refining and chemical manufacturing, have historically been among the most resilient players during down cycles. This could be the oil bust that breaks that pattern.
Shell to set out its full year results
Royal Dutch Shell will attempt to show that it is able to ride out the new era of low oil prices when it posts its full-year results on Thursday. London-listed Shell, which employs 90,000 people in more than 70 countries, is expected to report full-year earnings up 5.4% to 17.6 billion US dollars (£11.6 billion), as it sells non-core assets and scraps projects following the oil price slump. The moves fit in with the strategy of chief executive Ben van Beurden who took the helm a year ago this month and said he wanted the oil giant to improve operational performance and financial results.
Gallery: This week’s top five industry stories
This week's most read article on Energy Voice was the news that Shell's vice president would move onto a new role within the company. In other news regarding Shell, the oil giant launched an investigation into a suspected gas leak in the North Sea.
Shell launches investigation into suspected North Sea gas leak
An investigation has been launched after a suspected gas leak in the North Sea. Oil major Shell, the Health and Safety Executive (HSE) and the Department of Energy and Climate Change (DECC) will review the incident, which happened earlier this week close to the Curlew Floating Production, Storage and Offloading vessel (FPSO). Specialist divers from the Bibby Polaris Dive Support Vessel (DSV) are currently on site to close two vales which will isolate the vessel from the Fulmar pipeline.
Shell VP moves to new role
The vice president for oil giant Shell’s Upstream business in Europe is set to move onto a new role within the company. Glen Cayley has been in his current position since September 2010. Mr Cayley first joined the company in 2006 as vice president of global exploration and was responsible for appraisal and resource maturation.
Qatar, Shell scrap $6.5billion project amid oil-price collapse
Qatar Petroleum and Royal Dutch Shell Plc (RDSA) called off plans to build a $6.5 billion petrochemical plant in the emirate, saying the project is no longer commercially feasible amid the upheaval in global energy markets. The companies formed a partnership for the al-Karaana project in 2011 and planned to operate it as a joint venture, with state-run QP owning 80% and Shell the remaining 20%. They decided not to proceed with it after evaluating quotations from bidders for engineering and construction work, the companies said today in a joint statement.
Shell appoints new managing director to lead Nigerian operations
Oil major Shell has appointed a new managing director to lead its operations in Nigeria. Osagie Okunbor will lead the company's subsidiary after its current head, Mutiu Sunmonu, announced his retirement. Mr Okunbor has also been named the country chair of Shell companies in Nigeria.
Oil glut leads to surge in oil companies booking supertankers
Oil companies including Shell have booked supertankers to store crude at sea. Other firms, including Vitol and Trafigura, have acquired crude tankers for up to 12 months. According to reports, freight brokers said the increase in long-term bookings was “unusual” and could be used to store excess crude at sea until prices rebound.
SPDC agrees £55million settlement after pipeline spills
The Shell Petroleum Development Company of Nigeria Limited (SPDC) has agreed a £55million settlement with the Bodo community. Shell’s Nigerian subsidiary has made the payment in respect of two operational spills in 2008. The SPDC said the compensation will provide an individual payment for those affected who agree to the settlement payment totalling £35million.
Shell to sell downstream businesses in Norway
Shell will sell its downstream businesses in Norway. The oil giant will sell its retail, commercial fuels and supply and distribution logistics businesses in Norway. Its aviation business in Norway will become a 50-50 joint venture with ST1.
New deal for CSL
A north-east firm has been awarded a two-year contract extension for the provision of specialist contractors with Shell UK. Aberdeen-based firm CSL has been awarded the extension of an existing onshore and offshore frame agreement with the oil giant across its Upstream International Europe region for the provision of client representation. The contract covers provision of experienced senior client, diving, marine and engineering representatives to support subsea teams.
Egypt signs $40million shale deal with Apache and Shell
Egypt has signed its first contract to extract gas by fracking in a deal with Shell and Apache which includes investments of up to $40million. The oil ministry said it was part of efforts to boost output amid tumbling oil prices.
Shell and Opito join forces to train Iraqi oil workers
An estimated 15,000 oil and gas workers in Iraq will be trained in how to deal with the potential hazards of hydrogen sulphide. Oil giant Shell and Industry training standards body Opito have joined forced to ensure workers are protected. The corrosive and hazardous gas, also known as 'sour gas', H2S occurs in the production of oil and gas fields which have a high content of it in their reservoirs.
Shell sells mining lease for $6million
A major oil firm has sold one if its oil mining leases in Nigeria for $600million.
Shell eyes further exploration in French Guiana
Wessex Exploration has revealed plans regarding an application for a new drilling permit in French Guiana's deep offshore licence area. The company already owns a share in a drilling permit in Guyane Maritime alongside oil major Shell, which owns a 45% stake, and other partners including Total, Tullow and Northern Petroleum. In a results report Wessex Petroleum said discussions were ongoing between partners regarding application for a new drilling permit in the region.