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Thursday, April 25, 12:52 PM Royal Dutch Shell (RDS.A +1.2%) says it has been in discussions with India's Oil & Natural Gas Corp. about potential opportunities as it seeks to expand its presence in India, where energy demand is expected to more than double over the next 25 years. ONGC says it is discussing a long-term alliance to jointly explore oil and gas production and is looking at both existing and new projects. Comment! [Energy, Global & FX]
Thursday, April 25, 10:43 AM Cobalt Energy (CIE +1.8%), which has doubled in value since going public in 2009 but still trades at a substantial discount to the value of its underlying assets, is turning into a takeover target for energy companies attracted to its oil finds from Africa to the Gulf of Mexico, Bloomberg writes. CIE’s assets are "a needle mover" for a large international player, Guggenheim says. 1 Comment [Energy, M&A, On the Move]
Wednesday, April 24, 2:13 PM The development of shale oil and gas reserves around the world generally will be much slower than in North America, Shell's (RDS.A) head of international oil and gas warns, pointing to the lack of equipment and skilled staff. Shell’s assessment suggests the shale revolution will not be replicated quickly elsewhere, and other sources of supply will be needed to meet growing global energy demand. 3 Comments [Energy, Global & FX]
Wednesday, April 24, 8:45 AM The sudden retirement of InterOil (IOC) CEO Phil Mulacek should speed the securing of a major JV partner for its Gulf LNG project in Papua New Guinea, Raymond James analyst Pavel Molchanov says. Mulacek was a "sharply polarizing figure" perceived as "an obstacle" to a deal with interested partners such as XOM, RDS.A or TOT, and his departure provides a catalyst for an announcement. 5 Comments [Energy]
Tuesday, April 23, 11:46 AM Shell (RDS.A, RDS.B) is more likely to sell its ~A$7.1B stake in Woodside Petroleum into any significant share price strength on the back of the special dividend just announced by Australia's top oil producer, Macquarie says. Selling now would provide a timely injection of cash for Shell at a time when it’s spending billions of dollars on new facilities in Australia to produce LNG for export. 2 Comments [Energy, Global & FX]
Friday, April 19, 6:06 PM For more than a decade, the promised bonanza from the Caspian Sea's giant Kashagan oil field has been a $30B mirage for its developers - including XOM, E and RDS.A - and it still isn't clear when the first drop of oil is coming. Delays beyond Oct. 1 could subject the companies to new financial penalties and heighten tensions with a frustrated Kazakh government. Comment! [Energy, Global & FX]
Thursday, April 18, 5:59 PM Lebanon selects 46 energy companies to bid for offshore drilling rights, including giants XOM, CVX, RDS.A and PBR - not bad for a country that six months ago didn't even have a petroleum administration. Lebanon no doubt eyes Israel's progress in developing its Tamar field, discovered in 2009 and producing ~300M cu. ft./day of gas, and the Leviathan field, scheduled to begin production soon. 1 Comment [Energy, Global & FX]
Thursday, April 18, 11:49 AM Noble Corp. (NE +4%) says Shell (RDS.A) has been in talks to extend its contract to use the Noble Discoverer beyond Feb. 2014, underlining its long-term plans for the offshore Arctic. NE also secures contracts for its final two ultra-deepwater drillships under construction, adding $1.3B to its backlog; it had reported earlier a backlog of $14B, down from $14.3B Q/Q, along with higher-than-expected Q1 profits. Comment! [Energy, On the Move]
Thursday, April 18, 7:50 AM Royal Dutch Shell (RDS.A, RDS.B) Nigerian subsidiary declares force majeure on Bonny Light Crude exports following a shutdown of the Nembe Creek Trunkline, which the company says has been targeted repeatedly by crude oil thieves since installation of the $1.1B line in 2010. The shutdown defers production of ~150K bbl/day. Comment! [Energy, Global & FX]
Wednesday, April 17, 6:11 PM Shell (RDS.A) makes the case for gas, telling the LNG 17 conference global demand for liquefied natural gas will reach 400M metric tons/year by 2020 and 500M by 2025. Gas is the "ideal fuel" to satisfy demand - clean and easy to transport - and will replace coal over the next 20 years, says Shell’s manager of integrated gas strategy. On European LNG demand: "We may be close to the bottom." Comment! [Energy, Global & FX]
Wednesday, April 17, 3:46 PM The U.S. Supreme Court's decision to shut down a lawsuit filed by Nigerians against Royal Dutch Shell (RDS.A) over claims the company was complicit in crimes committed by Nigeria's government is a major victory for corporations that have been sued in the U.S. for their alleged role in foreign atrocities. The ruling could affect other cases, such as those against Rio Tinto (RIO) and XOM over activities in foreign countries. 2 Comments [Energy, U.S. Economy]
Tuesday, April 16, 5:45 PM Shell (RDS.A, RDS.B) tells the LNG 17 conference gas will play an increasing role in both the global energy business and its own portfolio into the future, and it is considering investment options totaling more than 20M metric tons/year of liquefied natural gas projects worldwide. Shell sees gas as the only power source combining what it calls “the three A’s” - availability, affordability and acceptability. 2 Comments [Energy]
Tuesday, April 16, 9:08 AM Motiva Enterprises' (RDS.A) Port Arthur, Tex., refinery will take several days to restart following an unexpected loss of power Sunday from its utility provider. The malfunction resulted in a plant-wide shutdown of Motiva's 600K bbl/day refinery and also of Valero's (VLO) 310K bbl/day refinery in the same area; Total's (TOT) 174K bbl/day refinery experienced operational upsets. 2 Comments [Energy]
Monday, April 15, 8:39 AM Royal Dutch Shell (RDS.A, RDS.B) says it is considering the sale of its retail, aviation and supply and distribution downstream businesses in Italy, preferring to focus on downstream businesses where it can be more competitive. Recent examples include the sale of refineries in the U.K. and Germany and downstream businesses in Finland and Sweden. Comment! [Energy, Global & FX]
Friday, April 12, 6:21 PM Petrobras' (PBR) worst debt situation in a decade may be boosting the chances it will step aside and let Exxon (XOM) and Shell (RDS.A) buy offshore exploration licenses in Brazil's upcoming first-in-six-months auction, Bloomberg says. XOM is said to have been the most active in requesting data about the acreage Brazil is offering next month to take advantage of PBR holding back. 4 Comments [Energy, Global & FX]
Friday, April 12, 8:17 AM InterOil (IOC) +6.8% premarket on a report it will sign a partnership agreement with Royal Dutch Shell (RDS.A, RDS.B) to join the proposed Gulf liquefied natural gas project in Papua New Guinea. IOC's adventure in the country has seen many ups and downs, but an actual deal with Shell could prove a breakthrough. 1 Comment [Energy]

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