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Royal Dutch Shell plc

5/21/2013, 4:25 AM ET

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Friday, March 22, 3:42 PM A Royal Dutch Shell (RDS.A, RDS.B) executive tasked with managing the company's controversial oil exploration program in the U.S. Arctic Ocean that failed to complete any wells in last year's drilling season will leave the company by "mutual consent" later this year. The personnel move is significant, as Shell has staked a lot on its Arctic exploration plans. 2 Comments [Energy]
Friday, March 22, 12:04 PM Royal Dutch Shell (RDS.A, RDS.B) plans to temporarily shut down the 150K bbl/day Nembe Creek oil pipeline in Nigeria next month to clear away illegal connections intended to steal crude from the line. The shutdown illustrates the deepening impact of oil theft on the Nigerian industry; the volume of oil spilled in Nigeria so far in March is the highest since November. 2 Comments [Energy, Global & FX]
Thursday, March 21, 2:25 PM European refiners likely will continue to feel the pain of deteriorating margins as declining demand could force further contraction in the industry, and the companies should cut output to get prices back up, Goldman Sachs says. But if the refineries are going to make any money this year, now is not the time to cut output - at least not yet. BP +0.4%, RDS.A -0.7%, TOT -1.6%. Comment! [Energy, Global & FX]
Thursday, March 21, 11:39 AM The U.K. government selects a project led by Royal Dutch Shell (RDS.A) to capture and store carbon emissions from a gas-fired power plant as a preferred bidder for $1.5B in funding. The Shell-led project is the world's first commercial-scale carbon capture and storage project at a gas plant and dovetails with U.K. plans to increase the role of gas in electricity generation in efforts to cut emissions. 3 Comments [Energy, Global & FX]
Wednesday, March 20, 6:35 PM Chevron (CVX) and Shell (RDS.A) are among big oil companies making peace with environmentalists, agreeing to a voluntary set of tough new standards for fracking in the Northeast that could lead to a major expansion of drilling. The program will work a lot like Underwriters Laboratories, which puts its familiar UL seal of approval on electrical appliances that meet its standards. 7 Comments [Energy]
Wednesday, March 20, 2:52 PM Royal Dutch Shell (RDS.A, RDS.B) lost money trading Iranian crude in 2012 shortly before a European Union embargo and still owes $2.3B to the country for oil purchases, a Reuters analysis says. The loss raises questions about Shell's decision to continue trading with Iran, taking advantage of an exception for pre-existing contracts, when many of its rivals had stopped. 2 Comments [Energy, Global & FX]
Wednesday, March 20, 10:16 AM Deepwater success in the U.S. Gulf of Mexico isn't going unnoticed in Mexico, which seeks to head further offshore after eight years of declining output in its easy-oil shallow waters. Mexico's tightly-held oil industry may open up to attract the big bucks needed for deepwater exploration, but oil majors still look to tread cautiously in a country where "the rule... is that you don't stick your neck out on oil reform." 1 Comment [Energy, Global & FX]
Wednesday, March 20, 9:53 AM Royal Dutch Shell (RDS.A, RDS.B) says it is adjusting its terms of trade for North Sea crude oil, aligning them with Platts' (MHP) recommendations for reform and ending a conflict over how best to address shrinking availability of crude in the region. Shell will introduce "quality premiums" for Oseberg and Ekofisk crudes, two of the four grades that make up the Brent-Forties physical cash market. Comment! [Energy, Global & FX]
Monday, March 18, 9:59 AM Royal Dutch Shell (RDS.A, RDS.B) plans to invest more than $1B this year to develop Iraq's Majnoon oilfield, where it will resume operations in May, the head of the joint management committee for the field says. When Majnoon comes back on stream, initial output will be 100K bbl/day and quickly rise to 200K, according to Iraq's oil minister. Comment! [Energy]
Monday, March 18, 9:29 AM Royal Dutch Shell (RDS.A, RDS.B), which last produced polyethylene plastics eight years ago, is poised to re-enter the market to increase profit from petrochemical production. Shell is considering the construction of an ethylene cracker in the U.S. as one route back to polyethylene, a top exec says, although no commitment has been made. Comment! [Energy]
Friday, March 15, 4:43 AM China further continues the internationalization of the yuan by setting up three pilot schemes that ease strict cross-border currency regulations for 13 multi-national corporations, including Caterpillar (CAT), Shell (RDS.A), Intel (INTC) and Samsung (SSNLF.PK), which estimates the scheme will save it $10M a year. 5 Comments [Global & FX, Top Stories]
Thursday, March 14, 6:22 PM Shell (RDS.A, RDS.B) was not fully prepared to launch its Arctic offshore drilling program and fell short in overseeing key contractors, according to the U.S. Interior Department's review of Shell's Arctic operations, which also says it will need to submit more comprehensive plans before it will be allowed to operate in the Arctic again. Comment! [Energy]
Thursday, March 14, 3:29 PM Anadarko (APC +1.3%) has held early-stage talks with Exxon (XOM) and Shell (RDS.A) about selling a share of its natural gas discoveries offshore Mozambique, a top government official says. Although APC and Eni (E) plan to jointly develop an LNG plant there, neither has much experience with building and operating such costly plants; XOM and Shell are two of the world's top LNG investors and shippers. Comment! [Energy]
Thursday, March 14, 11:56 AM Shell (RDS.A, RDS.B) CEO Peter Voser's 2012 pay package was more than double that of his nearest rival, BP's Bob Dudley, reflecting the companies' diverging fortunes. Voser's total 2012 remuneration was €5.1M ($6.6M), including a €3.3M cash bonus on top of an annual €1.6M salary and other benefits. Dudley got salary, cash bonus and other benefits worth $2.7M in 2012. 3 Comments [Energy]
Thursday, March 14, 8:35 AM Clean Energy Fuels (CLNE) +2% premarket on the heels of a Reuters article discussing news that China's ENN Group will establish natural gas fueling stations in the U.S. The Chinese company wants to start with 50 stations this year, about equal to the 50-60 CLNE is planning; Shell has said it plans to build ~100 LNG fueling stations in the U.S. but has not given a timeline. 5 Comments [Energy, On the Move]
Tuesday, March 12, 2:53 PM Royal Dutch Shell (RDS.A, RDS.B) and BASF (BASFY.PK) agree to pay up to $316M to workers exposed to toxic chemicals in Brazil, ending a six-year legal battle. A pesticide factory in São Paulo state operated by the companies for 30 years until it was shut down in 2002 has been blamed for various deaths and health problems in the local community. 2 Comments [Energy, Global & FX]