Royal Dutch Shell plc(RDS.B)- NYSE
  • Yesterday, 12:27 PM
    • Crestwood Equity Partners (CEQP +4.9%) is higher following news that it will build, own and operate a $180M natural gas gathering system in the Permian Basin.
    • CEQP says it reached a long-term gas gathering agreement with Royal Dutch Shell (RDS.A, RDS.B) subsidiary SWEPI in the Permian.
    • CEQP estimates the full buildout of the gas gathering system - consisting of 194 miles of low-pressure gathering lines and 36 miles of high-pressure trunk lines - will produce ~250M cf/day of gas, with a targeted initial in-service date on or before July 1.
    | Yesterday, 12:27 PM | 6 Comments
  • Yesterday, 11:48 AM
    • Royal Dutch Shell (RDS.A, RDS.B) says a fire has forced it to close the Trans Niger Pipeline, the key oil pipeline in Nigeria that feeds the strategic Bonny Export Terminal.
    • The Niger Delta Avengers group says it bombed the pipeline on Friday, just days after the terminal had resumed exports following repairs from a May bombing by the militants.
    • Shell's other big export terminal in Nigeria, Forcados, was attacked in February and took seven months to repair, reportedsly costing the company ~$3B; Bonny has the capacity to export 1.25M bbl/day of crude, and Forcados carries ~400K bbl/day.
    • SBM Intelligence risk analysts estimate that renewed militant attacks, low oil prices and weak refinery margins have cost Shell, Chevron (NYSE:CVX) and ExxonMobil (NYSE:XOM) $7.1B during H1, representing ~70% of their earnings in Nigeria.
    | Yesterday, 11:48 AM | 6 Comments
  • Tue, Sep. 27, 5:56 PM
    • Shell Midstream Partners (NYSE:SHLX) agrees to acquire an additional 20% equity interest in Mars Oil Pipeline and a 49% equity interest in Odyssey Pipeline from Royal Dutch Shell (RDS.A, RDS.B) for $350M.
    • Mars delivers crude from the Mars Basin and the Amberjack system, offering 600K bbl/day of capacity into LOOP’s Clovelly facility, and Odyssey has 220K bbl/day of capacity from the eastern Gulf of Mexico to the Delta Pipeline system, enabling deliveries to refineries in Louisiana and Mississippi.
    • SHLX expects the acquisition to be immediately accretive to unitholders.
    | Tue, Sep. 27, 5:56 PM | 17 Comments
  • Tue, Sep. 27, 11:48 AM
    • Royal Dutch Shell (RDS.A, RDS.B) says it plans to raise production capacity at its giant Ormen Lange field offshore Norway to 70M cm/day from 50M cm/day by installing two new compressors.
    • The Ormen Lange gas field, which feeds the Langeled pipeline under the North Sea, covers 20% of Britain's demand for natural gas.
    • Shell also says it will raise capacity at its Nyhamna gas processing plant to 84M cm/day from 70M cm/day to accommodate future production from the Aasta Hansteen field now under development by Statoil.
    | Tue, Sep. 27, 11:48 AM | 3 Comments
  • Thu, Sep. 22, 6:19 PM
    • Gazprom (OTCPK:OGZPY) says it discovered a new gas deposit during exploration at the Kirinskoye field in the Sea of Okhotsk near Russia's Sakhalin island, a find that could prove crucial for its plans to raise liquefied natural gas production at its Sakhalin-2 plant on the island.
    • Royal Dutch Shell (RDS.A, RDS.B), which also has a stake in the plant which produces 10M metric tons/year of LNG, may also get a share in the Kirinskoye field as part of an asset swap deal with Gazprom, although the prospects are uncertain because of sanctions for Russia's role in the Ukraine crisis.
    • Gazprom has not disclosed the reserves of the newly discovered deposit.
    | Thu, Sep. 22, 6:19 PM | 3 Comments
  • Thu, Sep. 22, 10:31 AM
    • A.P. Moller-Maersk (OTCPK:AMKAF) is in talks to buy a portfolio of North Sea assets from Royal Dutch Shell ((RDS.A +1.8%), (RDS.B +2.1%)) as the Danish group considers adding to its oil and gas business ahead of a planned spin off.
    • The assets under discussion are valued at around $2B, sources told Reuters.
    | Thu, Sep. 22, 10:31 AM | 18 Comments
  • Wed, Sep. 21, 9:47 AM
    • Suncor Energy (SU +0.6%) says it will write off ~$105M in costs related to an exploration well in the Shelburne Basin offshore Nova Scotia after the development failed to yield commercial volumes of oil.
    • SU says it was told by Royal Dutch Shell (RDS.A, RDS.B), operator of the joint venture, that the first exploration well had been completed but was non-commercial.
    • Joint venture participants are Shell Canada with a 50% stake, ConocoPhillips (NYSE:COP) with 30% and SU at 20%.
    | Wed, Sep. 21, 9:47 AM | 7 Comments
  • Tue, Sep. 20, 3:19 PM
    • Nigerian officials say the government is suing several major oil companies for $12.7B of oil that allegedly was exported illegally to the U.S. during 2011-14.
    • The Federal High Court in Lagos begins hearings next week in cases filed against Nigerian subsidiaries of Chevron (NYSE:CVX), Royal Dutch Shell (RDS.A, RDS.B), Eni (NYSE:E), Total (NYSE:TOT) and Petrobras (NYSE:PBR).
    • The officials say the government alleges that the companies did not declare more than 57M barrels of crude oil shipments.
    | Tue, Sep. 20, 3:19 PM | 19 Comments
  • Tue, Sep. 20, 11:24 AM
    • Colonial Pipeline says it expects to restart its major pipeline tomorrow after completing the installation of a new 500-ft. section of pipe to bypass a leak, while warning that it will take several days for the fuel delivery supply chain to return to normal.
    • The pipeline normally carries more than 1M bbl/day of gasoline, and filling the pipeline back up is not like flipping a switch; while the bypass section is just as large as the original pipeline, it could take days for the pipeline to return to full rates.
    • With the pipeline largely out of commission since Sept. 9 when a leak was discovered in Alabama, gasoline prices have surged in southeastern states including Georgia, Alabama, South Carolina, North Carolina, Tennessee and Virginia.
    • Colonial Pipeline is owned by Koch Industries, South Korea’s National Pension Service, Royal Dutch Shell (RDS.A, RDS.B) and others.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, UGA, USL, DNO, OLO, SZO, OLEM
    | Tue, Sep. 20, 11:24 AM | 13 Comments
  • Mon, Sep. 19, 8:15 AM
    • Pump prices surged over the weekend in some southern states following the recent shutdown of the Colonial Pipeline that carries fuel to the U.S. east coast, and states including North Carolina reported gasoline shortages.
    • Colonial said over the weekend that it would construct a bypass that circumvents the leak, which occurred more than a week ago in Alabama, but it remains unclear how quickly the pipeline will be fixed.
    • Reuters reported that the average price of a gallon of regular gasoline in Georgia rose to $2.26 as of Sunday morning, up more than $0.06 overnight and more than $0.15 in a week, while prices rose $0.04 in North Carolina to $2.136 and $0.04 in South Carolina to $2.011.
    • GasBuddy's Patrick DeHaan says prices are moving up roughly one-tenth of $0.01 every hour and that it could take several weeks before prices return to normal.
    • Colonial Pipeline is owned by Koch Industries, South Korea’s National Pension Service, Royal Dutch Shell (RDS.A, RDS.B) and others.
    • ETFs: USO, OIL, UWTI, UCO, DWTI, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
    | Mon, Sep. 19, 8:15 AM | 12 Comments
  • Fri, Sep. 16, 12:16 PM
    • The Dutch parliament adopted a motion yesterday to review production at the Groningen gas field annually in a bid to determine whether output can be reduced further.
    • In June, the government capped production at 24B cm/year for the coming five years, but the new motion opens the door to further reductions.
    • Output from Europe's largest gas field has been cut in half over the past two years after the country's Safety Board said the government was failing to protect citizens from earthquakes triggered by gas exploitation.
    • The Groningen field is operated by a joint venture between Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM).
    | Fri, Sep. 16, 12:16 PM | 7 Comments
  • Fri, Sep. 16, 10:59 AM
    • Russia's Gazprom (OTCPK:OGZPY) and its European partners in the Nord Stream-2 gas pipeline project say they have submitted a permit application to Sweden, starting a process aimed at gaining official approval for the 1,200-km pipeline.
    • The group says it plans to submit permit applications in the four other relevant jurisdictions - Russia, Finland, Denmark and Germany - in early 2017.
    • Nord Stream-2, due to open in 2019, would double the amount of gas directly shipped from Russia to Germany; critics say it could limit supply routes and the energy security of the European Union, which already gets a third of its gas from Russia.
    • Gazprom's Nord Stream-2 partners include Royal Dutch Shell (RDS.A, RDS.B), E.ON (OTCQX:EONGY), OMV (OTC:OMVJF), Engie (OTCPK:ENGIY) and Wintershall.
    | Fri, Sep. 16, 10:59 AM | 1 Comment
  • Thu, Sep. 15, 8:41 AM
    • Royal Dutch Shell (RDS.A, RDS.B) agrees to sell its Denmark refining business to Dansk Olieselskab for ~$80M, including working capital.
    • The sale includes the 70K bbl/day Fredericia refinery, long-term agreements for the supply of crude oil and feedstocks to the refinery, and the offtake of some products from the refinery.
    • Shell says its upstream interests in Denmark are not affected by the transaction.
    | Thu, Sep. 15, 8:41 AM | 2 Comments
  • Wed, Sep. 14, 5:28 PM
    • Colonial Pipeline increases its estimate of a gasoline leak in Alabama to ~6K barrels, up from an earlier estimate of 1K barrels, but says it plans to restart the affected line by the weekend.
    • Colonial, the largest refined products system in the U.S., shut down its main gasoline and distillates lines on Friday after discovering the leak; it has since restarted Line 2, its distillate line, and says it expects to restart Line 1, its gasoline line, completely by this weekend.
    • The outage at Colonial's Line 1, with a capacity of 1.2M bbl/day, runs to Greensboro, N.C., from Houston, Tex., has lowered cash prices in the U.S. Gulf coast in recent days, although some traders say taking out supply to the east coast could start to ease the glut of domestic gasoline in that region.
    • Colonial Pipeline is owned by Koch Industries, South Korea’s National Pension Service, Royal Dutch Shell (RDS.A, RDS.B) and others.
    | Wed, Sep. 14, 5:28 PM
  • Wed, Sep. 14, 8:59 AM
    • The energy companies developing the Karachaganak gas condensate field are still in talks with Kazakhstan's government about the country's financial claim against the consortium, the deputy energy minister says.
    • Russia's Lukoil (OTCPK:LUKOY, OTC:LUKOF) said in April that Kazakhstan had filed a $1.6B claim against the Karachaganak group led by joint operators Eni (NYSE:E) and Shell's (RDS.A, RDS.B) BG Group, which each own a 29.25% stake; state-owned KazMunayGaz owns 10%, Chevron (NYSE:CVX) has 18% and Lukoil 13.5%.
    • The field contains 1.2B metric tons of oil and gas condensate and more than 1.35T cf of gas, making it one of the world's largest oil and gas deposits.
    | Wed, Sep. 14, 8:59 AM
  • Tue, Sep. 13, 4:47 PM
    • Colonial Pipeline's days-long shutdown of the main line that moves gasoline to the Atlantic coast from the Gulf coast has caused the unintended effect of starting to alleviate the glut of domestic gasoline supply, Reuters reports.
    • "The longer it's down, the more bullish it is for gasoline," says Energy Aspects analyst Andrew Echlin. "You add that to all the refinery shutdowns and the limited supply, and East coast refiners could see a bump in margins as well."
    • The U.S. east coast has been weighed down by bloated gasoline inventories, which are still 10% above the five-year average at ~64.9M barrels, but U.S. gasoline margins jumped today to a near one-month high of $13.68, and gasoline futures gained as much as 1.9% to $1.4128/gal.
    • Colonial Pipeline is owned by Koch Industries, South Korea’s National Pension Service, Royal Dutch Shell (RDS.A, RDS.B, SHLX), KKR and others.
    | Tue, Sep. 13, 4:47 PM | 2 Comments