Royal Dutch Shell Plc Chief Executive Officer Ben Van Beurden spelled out his main goal last week — surpass Exxon Mobil Corp. to become the best-performing oil major. “I am determined to get us to that number one place,” he said after outlining the company’s long-term strategy in London. “I want to create a world… Continue Reading »
Royal Dutch Shell has resumed purchases of Iranian crude, becoming the second major oil firm after Total to restart trade with Tehran after the lifting of sanctions, trading sources said and ship tracking data showed. Shell declined to comment. According to shipping data, Shell fixed Suezmax tanker Delta Hellas to bring 130,000 tonnes of Iranian… Continue Reading »
When it comes to the North Sea, there is no such thing as an easy sale, even for oil giants Royal Dutch Shell and BP. More than any other region in the world, the North Sea has suffered greatly over the past two years as a 60 percent drop in oil prices, high operating costs,… Continue Reading »
Sulzer and FMC Technologies have received a subsea multiphase boosting pump contract to upgrade one of the pumping modules in Shell’s Parque das Conchas, a deepwater oil field off the coast of Brazil. The pump modifications suit the specifics of the oil field with a high shut-in pressure of 517 bar (7 500 psi). They… Continue Reading »
Royal Dutch Shell cannot switch too quickly to producing renewable energy without risking its dividend payments and even its very existence, the oil and gas group’s chief executive warned. Major investors, including Dutch pension fund PGGM, have criticised Shell’s climate change policy in recent months, saying it should do more to mitigate climate change risks…. Continue Reading »
Investor discontent with Royal Dutch Shell over multi-million euro pay packages for its top executives rose sharply at this year’s annual shareholder meeting on Tuesday. Although Shell’s shareholders approved the oil and gas group’s remuneration report, including chief executive Ben van Beurden’s 5.14 million euros ($5.74 million) package, 14.17 percent of investors opposed it, up… Continue Reading »
Royal Dutch Shell Plc is in talks with potential buyers for some North Sea assets, mostly fields it got this year as part of the record acquisition of BG Group Plc, according to people familiar with the matter. The Anglo-Dutch energy giant has been in talks with companies including privately held chemical producer Ineos Group… Continue Reading »
Oil major Royal Dutch Shell on Wednesday posted a sharp drop in its first quarter 2016 earnings over low oil prices and weaker refining industry conditions. The company is planning to reduce its spending in 2016 to $30 billion. The results are the first that Shell has posted after the acquisition of its rival BG… Continue Reading »
Shell has admitted it could make even deeper cuts to its North Sea workforce as part of a drive to slash spending and sell off assets after its £37bn takeover of BG Group earlier this year. The group has already axed 750 jobs from its North Sea business, of which two thirds were UK jobs,… Continue Reading »
Wood Group has been awarded a three year contract extending its support of Shell’s eight UKCS offshore assets. Wood Group PSN (WGPSN) will continue to deliver maintenance and construction services to the Shearwater, Gannet, Nelson, Curlew, Brent Delta, Brent Alpha, Brent Bravo and Brent Charlie installations. In addition WGPSN will provide engineering modifications to the… Continue Reading »
