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  • Mon, Oct. 24, 9:57 AM
    • Royal Dutch Shell (RDS.A, RDS.B) and Pavilion Gas are selected as importers of liquefied natural gas into Singapore, winning exclusive rights to sell 1M metric tons/year of LNG for up to three years beginning in 2017.
    • Singapore is vying to become a regional center for the trading of liquefied natural gas in Asia, seeking to use its geography and stature as Asia’s oil trading center to also be a leader in LNG in a region that accounted for more than 70% of global demand in 2015.
    • Singapore relies almost exclusively on gas for electricity generation, and currently takes the bulk of its gas via pipelines from Malaysia and Indonesia.
    | Mon, Oct. 24, 9:57 AM | 5 Comments
  • Thu, Oct. 20, 6:23 PM
    • Royal Dutch Shell (RDS.A, RDS.B) agrees to sell ~206K acres of non-core oil and gas properties in western Canada to Tourmaline Oil (OTCPK:TRMLF) in a cash and stock deal valued at ~$1.03B.
    • Shell says the deal comprises $758M in cash and Tourmaline shares valued at $279M.
    • The acreage includes 61K net acres in the Gundy area of British Columbia, and 145K net acres in the Deep Basin area of Alberta, and the assets are a combination of developed and undeveloped lands producing 24,850 boe/day of dry gas and liquids.
    | Thu, Oct. 20, 6:23 PM | 5 Comments
  • Tue, Oct. 18, 12:45 PM
    • Oil producers such as ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX) and Royal Dutch Shell (RDS.A, RDS.B) must prepare for radical change as adoption of new technologies like electric cars could happen faster than originally anticipated, according to a new report from Fitch Ratings.
    • "Widespread adoption of battery-powered vehicles is a serious threat to the oil industry," and an acceleration of the electrification of transport infrastructure could create an "investor death spiral" as investors flee the oil patch, Fitch warns.
    • Tesla's (NASDAQ:TSLA) upcoming Model 3 will start at $35K before rebates and begin production in late 2017 and is aimed at a broader market, GM's Chevrolet Bolt starts at $37.5K before government incentives and will be available later this year, and other automakers are offering affordable all-electric vehicles, as Fitch estimates battery costs have plunged by 73% since 2008.
    • Fitch notes that some oil majors have taken steps to diversify their offerings, including Total (NYSE:TOT), which has invested in batteries via its $1.1B purchase in May of Saft Groupe and bought a 60% stake in solar panel maker SunPower in 2011.
    | Tue, Oct. 18, 12:45 PM | 234 Comments
  • Tue, Oct. 18, 3:53 AM
    • Shell's (NYSE:RDS.A) sale of a 33% stake in Japanese refining partner Showa Shell to domestic rival Idemitsu Kosan (OTC:IDKOF) in a $1.6B deal could be held up because of a wider plan for a total merger of the Japanese companies, analysts warn.
    • Any delay in the smaller deal would do no good for Shell's plans to sell $30B of assets by 2018 as it looks to slash its $75B of debt, a large chunk of which it the company took on after it bought British peer BG Group for $50B in January.
    • By June, Shell had sold just $1.5B in assets.
    | Tue, Oct. 18, 3:53 AM | 14 Comments
  • Mon, Oct. 17, 6:48 PM
    • Colonial Pipeline says it will cut shipping volumes while it works to restart the section of its main gasoline conduit that was shut for more than 12 days after a leak was discovered on Sept. 9.
    • The section of the 1.3M bbl/day line that connects the refining hub of the Gulf coast to the east coast was damaged after its biggest gasoline leak in nearly two decades; a bypass line was constructed to restart operations while the company repaired the main conduit.
    • Allocations on Colonial's Line 1 - the main gasoline line on the biggest refined products system in the U.S. - will be reduced by ~20% for 10 days; U.S. gasoline crack spreads jumped by more than 5% to $13.32/bbl on news of the reduced allocations, Reuters reports.
    • The U.S. Department of Transportation Pipeline and Hazardous Materials Safety Administration said on Friday that Colonial must cut pressure on the line by 20% until it can ensure the line can safely operate at full capacity.
    • Colonial Pipeline is owned by Koch Industries, South Korea’s National Pension Service, Royal Dutch Shell (RDS.A, RDS.B) and others.
    | Mon, Oct. 17, 6:48 PM | 2 Comments
  • Mon, Oct. 17, 11:59 AM
    • Ineos owner Jim Ratcliffe reportedly will bid for Royal Dutch Shell’s (RDS.A, RDS.B) Buzzard oilfield in the North Sea valued at £1.8B (~$2.2B), as the chemical company seeks to establish itself as a key player in Britain's oil industry.
    • Ratcliffe's bid for Buzzard is the latest in the North Sea, after Ineos last year acquired all the gas fields operated by German DEA Group; the Buzzard field became property of Shell after the acquisition of BG Group.
    • Blackstone-backed Siccar Point Energy also is believed to have put in a bid.
    • The Buzzard field is a key part of Shell's plans to offload £24.5B in assets following its merger with BG Group.
    | Mon, Oct. 17, 11:59 AM | 2 Comments
  • Fri, Oct. 14, 10:17 AM
    • The first batches of oil have been shipped for export from Kazakhstan's giant Kashagan field in the Caspian Sea, after $50B in investments and more than 15 years in development.
    • Kazakhstan's Energy Ministry says 26.5K metric tons of crude were loaded for export into the pipelines, but reaching stable production will take “some time” as commissioning work continues both offshore and onshore.
    • “Restarting production even in this low oil price environment is good because it means beginning to see some returns on that massive investment,” says IHS Energy's Andrew Neff.  “The real payoff will be phase 2,” which has the potential to increase output to 1M bbl/day.
    • The consortium developing Kashagan comprises China National Petroleum (NYSE:PTR), ExxonMobil (NYSE:XOM), Eni (NYSE:E), Royal Dutch Shell (RDS.A, RDS.B), Total (NYSE:TOT), Inpex and KazMunaiGas.
    | Fri, Oct. 14, 10:17 AM | 1 Comment
  • Fri, Oct. 14, 9:16 AM
    • Royal Dutch Shell (RDS.A, RDS.B) has offered to buy Abengoa's (NASDAQ:ABGB) cellulosic ethanol plant in Kansas for $26M as a stalking horse bid, according to documents filed in bankruptcy court.
    • The 25M gallon cellulosic plant near Hugoton, Kan., can turn plant waste into an advanced biofuel that qualifies for the U.S. Renewable Fuel Standard program.
    • Shell also has a sugar-ethanol joint venture in Brazil, and has said it wants renewables including biofuels and wind to become "essential" for the company.
    | Fri, Oct. 14, 9:16 AM | 5 Comments
  • Fri, Oct. 14, 8:31 AM
    • Royal Dutch Shell (RDS.A, RDS.B) is considering a sale of its stake in a Malaysian liquefied natural gas export plant, which could fetch more than $1B, Bloomberg reports.
    • Shell reportedly is gauging interest in its 15% stake in MLNG Tiga Sdn., which owns an LNG terminal on the island of Borneo; Malaysia’s state-owned Petronas holds 60% of MLNG Tiga and has pre-emptive rights on the stake.
    • The disposal would be part of Shell's plan to raise $30B from asset sales through 2018 to help cut borrowings after its acquisition of BG Group.
    | Fri, Oct. 14, 8:31 AM | 3 Comments
  • Thu, Oct. 13, 2:58 PM
    • Royal Dutch Shell (RDS.A, RDS.B) says it remains committed to selling the majority of its stake in Japanese venture Showa Shell to refiner Idemitsu after the Japanese entities announced an indefinite delay of a planned merger.
    • The founding family of Idemitsu, which controls a 33.9% stake in the refinery, opposes the merger, although the company says it has not changed its plan to buy a one-third stake in Showa Shell for ~¥170B ($1.7B) this month or next.
    • Idemitsu reportedly plans to talk with Shell about its planned purchase, given the postponement of the full acquisition.
    | Thu, Oct. 13, 2:58 PM | 1 Comment
  • Wed, Oct. 12, 8:57 AM
    • Work to bring the giant Kashagan oilfield in Kazakhstan onstream is progressing as planned and some crude has already been processed and put in storage, according to the country's energy minister, who adds that Kazakhstan will not reduce oil output in line with OPEC plans.
    • Kashagan, which cost ~$50B to develop and has suffered many delays, is initially expected to produce 75K bbl/day, rising to 150K-180K bbl/day in November and December this year.
    • The consortium developing Kashagan comprises China National Petroleum (NYSE:PTR), ExxonMobil (NYSE:XOM), Eni (NYSE:E), Royal Dutch Shell (RDS.A, RDS.B), Total (NYSE:TOT), Inpex and KazMunaiGas.
    | Wed, Oct. 12, 8:57 AM | 5 Comments
  • Tue, Oct. 11, 12:49 PM
    • Norwegian oil service workers have ended a three-week strike that halted operations on 17 drilling rigs after the Industri Energi union won its pay demands with employers.
    • The strike at subcontractors to the oil industry included workers at Schlumberger (SLB -0.9%), Halliburton (HAL -1.4%), Baker Hughes (BHI -0.9%) and Oceaneering (OII -0.8%).
    • An extended strike had threatened closure of Statoil's (STO -2.1%) Melkoeya liquefied natural gas plant and Royal Dutch Shell's (RDS.A, RDS.B) Nyhamna gas processing plant.
    | Tue, Oct. 11, 12:49 PM
  • Mon, Oct. 10, 12:23 PM
    • Royal Dutch Shell (RDS.A, RDS.B) said late last week that it would scrap plans to build an oil train terminal in Washington state that would have taken more than 400K barrels per week of Bakken and other inland crudes.
    • Shell said the conditions of the global crude market and a tight capital environment made its project uneconomic; the rail facility would have connected to an existing rail line and supplied Shell's 145K bbl/day Anacortes refinery with light crude from North Dakota.
    • Also last week, city planners of San Luis Obispo, Calif., rejected a rail terminal proposed by Phillips 66 (NYSE:PSX), two weeks after the city council of Benicia rejected Valero Energy's (NYSE:VLO) proposed 70K bbl/day facility.
    • Despite the latest setbacks, Wood Mackenzie analyst Jonathan Garrett says low prices are still a bigger concern for North Dakota producers than transportation.
    | Mon, Oct. 10, 12:23 PM | 15 Comments
  • Mon, Oct. 10, 10:47 AM
    • Iran's government says Royal Dutch Shell (RDS.A, RDS.B) signed a memorandum of understanding with its National Petrochemical Company yesterday for cooperation in the petrochemical industry.
    • Marzieh Shahdaei, Iran’s deputy oil minister and CEO of National Petrochemical, says Iran plans to expand its petrochemical output from the current 60M tons to 160M tons by 2025.
    | Mon, Oct. 10, 10:47 AM
  • Thu, Oct. 6, 8:42 AM
    • Statoil's (NYSE:STO) Melkoeya liquefied natural gas plant and Royal Dutch Shell's (RDS.A, RDS.B) Nyhamna gas processing plant would be shut if today's wage talks fail and workers go on strike, the country's oil and gas industry association says.
    • Melkoeya turns natural gas from the offshore Snoehvit field in the Barents Sea into gas to be transported by tanker, while Nyhamna feeds the Langeled pipeline, Britain's main subsea gas import route.
    • The strike also could affect ExxonMobil's (NYSE:XOM) oil refinery at Slagen, but it has been shut for maintenance; the association says a strike could delay its return to operation.
    | Thu, Oct. 6, 8:42 AM | 1 Comment
  • Thu, Oct. 6, 7:51 AM
    • Royal Dutch Shell's (RDS.A, RDS.B) Philippines unit has begun taking orders for a $400M-plus IPO on Manila's stock exchange, despite political concerns that have weighed on Philippine markets recently.
    • WSJ reports that the unit will move ahead with the IPO after testing investor appetite last week, with a book-building process lasting for a week with the aim of a Nov. 3 listing on the Philippine Stock Exchange.
    • Philippine stocks and the peso have been thumped in recent weeks, largely due to unease about recently elected Pres. Duterte and his coarse statements and criticisms of traditional allies such as the U.S.
    | Thu, Oct. 6, 7:51 AM | 2 Comments