Royal Dutch Shell signals Browse FLNG go-ahead far from certain for 2016

Royal Dutch Shell signals Browse FLNG go-ahead far from certain for 2016

Jul 30th, 2015 

by John Donovan. 

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By Angela Macdonald-Smith: Jul 30 2015

Royal Dutch Shell has signalled that a final go-ahead next year for the Browse floating liquefied natural gas project in Western Australia is far from a certainty given the cost challenges of the venture in the depressed oil price environment.

Chief financial officer Simon Henry listed Browse among several large international projects that would be subject to “the dynamic nature of decision making as we take both the oil price environment but also the supply chain and the cost level into account.”

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Posted in: Australia, Ben van Beurden, BG Group, Gas, Gas-to-liquids, LNG, Prelude FLNG Project, Royal Dutch Shell Plc, Shell, Simon Henry.
Tagged: Ben van Beurden · BG Group · Gas · Oil Prices · Prelude FLNG Project · Royal Dutch Shell Plc

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Shell Sells Japan Refiner Stake for $1.4 Billion to Idemitsu

Shell Sells Japan Refiner Stake for $1.4 Billion to Idemitsu

Jul 30th, 2015 

by John Donovan. 

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by Tsuyoshi Inajima and Stephen Stapczynski: BLOOMBERG.COM: 30 JULY 2015

Royal Dutch Shell Plc agreed to sell a 33.24 percent stake in a Japanese refiner to Idemitsu Kosan Co. for about 169 billion yen ($1.4 billion).

The deal for 125.3 million shares in Showa Shell Sekiyu KK is almost 23 percent more than the closing price Wednesday, according to data compiled by Bloomberg. The transaction is scheduled to be completed in 2016, according to a statement from The Hague, Netherlands-based company. The energy major will retain a 1.8 percent holding in the Japanese refiner.

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Posted in: Bloomberg, Royal Dutch Shell Plc.
Tagged: Royal Dutch Shell Plc

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‘Shell No!': Dangling from a bridge to stop Arctic drilling

‘Shell No!': Dangling from a bridge to stop Arctic drilling

Jul 30th, 2015 

by John Donovan. 

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By Justin Wm. Moyer July 30, 2015

In the annals of extreme protesting, there are tree-sitters and there are sleeping dragons. Add to these the bridge-dangle — a technique craftily employed by 13 environmental activists in Portland, Ore., who wish to prevent a ship vital to Royal Dutch Shell Arctic drilling from leaving the Lower 48.

“They are creating a human barricade so that the Shell icebreaker cannot get through,” Annie Leonard, the executive director of Greenpeace USA, told KATU in Portland. “They are prepared to stay up there for days because that’s what it is going to take to save the Arctic.”

The protesters took to the St. Johns Bridge over the Willamette River early Wednesday to block the icebreaker, named the Fennica, from heading north to protect Shell’s fleet from ice and respond to an oil spill, should one occur. As the Associated Press reported, the ship is being repaired after its hull was gashed in the Aleutian Islands after a collision with an underwater object.

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Posted in: Alaska, Arctic, Chukchi Sea, Climate Change, Environment, Greenpeace, Oil Spill, Pollution, Royal Dutch Shell Plc, Shell, United States.
Tagged: Alaska · Arctic Ocean · Chukchi Sea · Royal Dutch Shell Plc · Shell · The Washington Post

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Shell to Cut 6,500 Jobs, Reduce Investment by $7 Billion

Shell to Cut 6,500 Jobs, Reduce Investment by $7 Billion

Jul 30th, 2015 

by John Donovan. 

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By Rakteem Katakey: July 30, 2015″ BLOOMBERG.COM

Royal Dutch Shell Plc, the oil producer buying BG Group Plc for more than $70 billion, said it plans to cut 6,500 jobs this year and reduce capital investment by $7 billion.

Shell is planning for a “prolonged downturn,” the company said Thursday in a statement. Its dividend commitment will remain unchanged at $1.88 per share this year, with at least that amount paid in 2016, the company said.

Second-quarter profit adjusted for one-time items and inventory changes dropped to $3.8 billion from $6.1 billion a year earlier, The Hague-based Shell said. That beat the $3.4 billion average estimate of 16 analysts surveyed by Bloomberg.

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Posted in: Ben van Beurden, Bloomberg, BP, Oil Company Profits, Oil Prices, Royal Dutch Shell Plc, Shell, Shell Job Cuts, Total.
Tagged: Ben van Beurden · BP · Oil · Oil Prices · Royal Dutch Shell Plc · Shell · Total

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Royal Dutch Shell to cut 6,500 jobs

Royal Dutch Shell to cut 6,500 jobs

Jul 30th, 2015 

by John Donovan. 

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Oil giant Royal Dutch Shell has announced it is to shed 6,500 jobs as part of cost cutting plans.

30 July 2015

The company said the cost cuttingwas to help “mitigate the impact” on profits amidst a drop in oil prices.

Its “prudent approach” included a reduction in operating costs of $4bn and reduced oil exploration operations.

The company announced profits of $3.4bn in the three months to 30 June, a 35% decrease compared with last year.

Shell also said that it was “planning for a prolonged downturn” in oil prices.

Shell chief executive Ben van Beurden said: “We have to be resilient in a world where oil prices remain low for some time, whilst keeping an eye on recovery.

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Posted in: BBC News, Ben van Beurden, Oil Company Profits, Oil Prices, Royal Dutch Shell Plc, Shell Job Cuts.
Tagged: Ben van Beurden · Oil Prices · Royal Dutch Shell Plc · Shell

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BREAKING: CALI YOUTH TAKE OVER SEN. FEINSTEIN OFFICE, DEMAND END TO ANTI-IMMIGRANT PROPOSALS

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Where Is My Black Body Safe In America?

Where Is My Black Body Safe In America? Irene Monroe: "The reality of unarmed African American women being beaten, profiled, sexually violated and murdered by law enforcement officials with alarming regularity is too often ignored - especially with the focus of police brutality on African African males."READ MORE SHARED FROM

THURSDAY, 30 JULY 2015 Where Is My Black Body Safe In America? Irene Monroe: "The reality of unarmed African American women being beaten, profiled, sexually violated and murdered by law enforcement officials with alarming regularity is too often ignored - especially with the focus of police brutality on African African males." READ MORE Friend on Facebook Follow on Twitter Forward to a Friend Which Hillary? Brent Budowsky: One Hillary is the most qualified candidate in memory, while the other Hillary gives no evidence of having a higher purpose other than being elected. READ HERE Bobby Jindal’s Stand Against Religious Freedom Tina Dupuy: Sure, governor, you’re all for religious freedom you agree with. That’s not freedom. That’s selective religious intolerance. That’s cherry-picking which faiths you support and which faiths you want to see in jail. READ HERE Is Serena Today’s Ali? Dave Zirin: She is our Jordan. She is our Jim Brown. She is our Babe Ruth, calling his shots. She is no longer content to dodge bullets, but understands how to stop them. Serena is that rare athlete who has not only mastered her sport. She’s harnessed it. READ MORE BATS Congress and the Fight Against Corporate Education Reform Yohuru Williams and Steven Singer: The BATs returned to DC, not to revisit history but to continue our mission of creating real opportunity and equity in the nation’s schools. READ HERE

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