Wednesday, September 26, 2018

Royal Dutch Shell News

Shell, Petrobras Units Probed for Brazil Price-Fixing

Brazil's three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America's largest oil producer.The firms targeted by the probe are Petrobras Distribuidora SA…

Sonatrach in Talks with 14 Foreign Firms on Trading Venture -CEO

Photo: Sonatrach

Algerian state energy firm Sonatrach is in talks with 14 international firms for a joint venture to trade oil and gas products after agreeing to buy its first overseas refinery, its CEO said on Thursday."I am happy to say that 14 firms are on the list to do a JV on trading with us," Abdelmoumen Ould Kaddour told reporters d

Swiss Utility in Talks to Buy LNG from Canada's Goldboro Project

File Image: Credit QGTC

Axpo, a Swiss utility and energy trader, said on Thursday it was in talks for a 10-year supply deal with a Canadian company planning to build a liquefied natural gas (LNG) terminal.A sales and purchase agreement would boost the chances that Pieridae Energy would…

McDermott Wins Shell Contract for Gulf of Mexico

Image: McDermott

McDermott International announced a contract from Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell (Shell) plc, for subsea umbilical and flowline installation at the Perdido development, located 230 miles south of Galveston, Texas, in…

Okea Weighs Its Options for Grevling Oil Discovery

Norwegian oil firm Okea is looking at four options to develop its North Sea North Sea Grevling oil discovery, which in turn could impact on the company's valuation in a deal with Thai investor Bangchak Corporation PCL (BCP), it said on Tuesday.BCP has agreed to invest 939 million Norwegian crowns ($112.25 million) in Okea t

Shell in Talks to Sell $1.3 Bln of Gulf Coast Assets

(File photo: Anadarko)

Royal Dutch Shell Plc is in talks to sell its assets in a Gulf of Mexico oilfield to Focus Oil to pay for its takeover of BG Group Plc, Bloomberg reported on Thursday, citing people familiar with matter.The deal could value Shell's stake in the Caesar Tonga field at about $1.3 billion, the report said.Shell has a 22.5 perce

Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations

(File photo: Shell)

A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them.The U.S. Gulf of Mexico…

Big Oil Pledges to Slash Potent Greenhouse Gas Emission

© torsakarin / Adobe Stock

A group of the world's top oil and gas companies pledged on Monday to slash emissions of a potent greenhouse gas by a fifth by 2025 in an effort to battle climate change.The Oil and Gas Climate Initiative (OGCI), which U.S. giants Exxon Mobil and Chevron joined recently…

Total to Exit Hazira LNG, Sell 26% Stake to Shell

Photo: Hazira LNG and Port

French energy giant Total SA will exit the Indian liquefied natural gas (LNG) venture by selling 26% stake to its partner Royal Dutch Shell, the two companies announced."Total has signed a binding Letter of Intent (LOI) with Shell for the sale of its 26% minority equity stake in Hazira LNG regasification terminal in India.

Big Oil Readies Brazil Offshore Bets

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Exxon Mobil Corp , Royal Dutch Shell Plc and other companies will gather on Friday in possibly their last crack at Brazil's coveted offshore oil for another four years, as a wide-open election spurs fears about barriers to foreign investment.The auction in Rio…

LNG Bunkering to Grow at CAGR of 62.50% CAGR to Reach $247bn in 2023

LNG for Marine. Photo: Skangas

The global liquefied Natural Gas (LNG) bunkering market is expected to witness a CAGR of 62.5% over the forecast period 2017-2023, and is projected to reach USD 24,684.7 million by 2023.The key factors driving the growth of LNG bunkering market are increase in…

Nord Stream 2 Pipeline on Track Despite Sanctions Risk, Operator Says

Photo: Nord Stream 2

The Nord Stream 2 pipeline to transport Russian gas to Germany is progressing on schedule, its operator said on Friday, with European investors still committed to the project despite criticism from the United States and the threat of sanctions.In July, Washington…

OPEC July Oil Output Hits 2018 Peak, but Outages Weigh

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OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found, although losses from Iran and Libya limited the increase.The Organization of the Petroleum…

Shell to Make Final Investment Call on Nigeria Oilfield in 2019

Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria's Bonga Southwest offshore oilfield, a senior company official said on Tuesday.The project, one of the country's largest with an expected production of 180…

O&G Output at Russia's Pacific Sakhalin Island Seen Down in 2019

Photo: ExxonMobil

Production of oil and natural gas at the Russian Pacific island of Sakhalin is expected to decline next year, the local government said in an emailed response to a Reuters query.Sakhalin, which is also famous for producing seafood, derives most most of its oil and natural gas from two offshore projects - Sakhalin-1…

In U-turn, Exxon, Chevron to Join Rivals in Climate Initiative

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Exxon Mobil, Chevron and Occidental Petroleum are joining a group of international oil and gas giants in an initiative aimed at curbing carbon emissions in the sector, they said in a statement on Thursday.The move marks a U-turn for Exxon Mobil and Chevron, the top two U.S.

Shell Wins 15-year Deal to Supply LNG for Chinese Company's Power Plant

Royal Dutch Shell has won a long-term contract to provide liquefied natural gas (LNG) to a Chinese company's 441 megawatt LNG-fueled power plant under construction in Colon, Panama, advisors on the deal said this week.The $900 million power project, being built by Sinolam LNG affiliate Sinolam Smarter Energy LNG Power Co, e

Shell Brazil Evaluating Potential Purchase of Eletrobras Assets

Royal Dutch Shell's Brazil chief said on Wednesday that the company is evaluating the assets of Centrais Eletricas Brasileiras SA's that are being put up for sale as part of the state-owned utility's debt reduction and privatization plans.Andre Araujo also told reporters that the company was considering participating in an

Brazil Calls Oil Auction, Seeks to Export Oil in a Year

File Image: CREDIT Adobestock / 
 © Mike Mareen

Brazil's government will seek to sell 14.4 million barrels of oil cargo this month, while the state company managing the development of the pre-salt oil exploration aims to export its own oil in a year's time, the firm's head said on Thursday.The tender of oil cargo, at an auction set for Aug.

Canada Crude Differential Seen Staying High as Refiners Take Downtime

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The discount on Canada's heavy crude, which reached a nearly five-year high this week, looks to remain elevated with pipelines strained and the refiners who buy it going offline for maintenance, industry officials say.Western Canada Select (WCS) oil traded on Tuesday…