Shell Archives - Page 20 of 24

Shell Sees Surging Global LNG Demand Leading to Possible Shortages in Mid-2020s

February 26, 2018

Shell (ticker: RDS.A) released its annual LNG Outlook today with robust LNG demand and natural gas usage predictions. The global liquefied natural gas (LNG) market showed demand growing by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. Shell said based on current demand projections, it sees a potential for a supply shortage developing

Shell Earned $4.3 Billion for Q4, $15.8 Billion for 2017

February 1, 2018

Royal Dutch Shell (ticker: RDS.A) CEO Ben van Beurden had some things to celebrate in his company’s year-end reporting today. “We were able to deliver $39 billion of cash flow from operations excluding working capital movements from our upgraded portfolio. We strengthened our financial framework during the year through an $8 billion reduction in our net debt…,” the CEO said

Dominion Energy: Cove Point is Producing LNG

February 1, 2018

First U.S. east coast export facility is expected to enter commercial service in early March Dominion Energy Cove Point (DECP, ticker: D) has begun producing liquefied natural gas. The company’s newly constructed natural gas liquefaction facility is undergoing commissioning in Lusby, MD. When commissioning is complete, DECP will produce LNG for its customer joint venture ST Cove Point, a JV

Shell Looks at Recrafting Itself into Electricity Seller to Avoid Extinction in ‘Lower Forever’ Long-Term Oil Future

January 24, 2018

“We believe, if you look into the second half of this century, maybe half of the energy system may be renewables. The bulk of it is going to be solar, with wind being in very important niche markets here and there. So if you want to play in the non-oil-and-gas part of the energy system—which may be the biggest part

Nord Stream Gas Pipeline Sends 51 Bcm to EU

January 17, 2018

The Nord Stream Pipeline delivered 51 billion cubic meters (Bcm) of natural gas to consumers in the European Union in 2017. This means that the pipeline system operated at 93% of its annual design capacity of 55 Bcm. This is the highest utilization since the start of operation of the Nord Stream Pipeline System, the company said in a statement.

More PetroChem Plants: PetroLogistics II Formed with $500 Million Initial Commitment

January 16, 2018

Quantum Energy Partners and Stonecourt Capital LP have announced the formation of PetroLogistics II LLC, with founders David Lumpkins and Nathan Ticatch. PetroLogistics II, headquartered in Houston, Texas, plans to continue the strategy of its predecessor, PetroLogistics Company LLC. The newly formed company will acquire, develop and operate petrochemical manufacturing, processing and logistics assets in North America. Quantum, Stonecourt and

Norwegian Barents Sea Cools as Oil Companies Look Elsewhere

January 2, 2018

11 companies applied for licenses Norway announced the applicants for its 24th licensing sale, showing a significant decrease in interest in the country. The round offers blocks in the Barents Sea, which is considered the most important area in the country for new development. In December 2017, eleven companies applied for production licenses, either alone or in groups. Some, like

Kuwait Petroleum and Shell Sign 15-Year Agreement

December 27, 2017

Royal Dutch Shell plc (ticker: RDS.A) and Kuwait Petroleum Corp. have signed an LNG contract that secures Kuwait’s domestic energy needs for the next 15 years. A private source told Bloomberg that the contract will cover 2-3 million metric tons of LNG a year, all while undercutting Brent benchmark prices by 11%. “The big issue for Kuwait is they burn

Nord Stream 2 Getting Closer Faster

December 11, 2017

The four individual pipes will deliver a combined capacity of 10.64 Bcf/d of gas to European markets Permits for the Nord Stream 2 project are currently being drawn up. National environmental impact assessment reports were submitted to the German, Danish, Finnish, and Swedish authorities, with construction permit applications filed for the corresponding sections of the gas pipeline in each country.

CB&I Wins $95 Million Saudi Aramco Shell Refinery Contract

December 7, 2017

CB&I (ticker: CBI) won a contract for more than $95 million from the Aramco-Shell JV – Saudi Aramco Shell Refinery (SASREF). The scope of work includes the engineering, procurement and construction management for SASREF’s modernization and expansion of its existing refinery in Al-Jubail city, Saudi Arabia. “The relationship between CB&I and SASREF extends back for more than a decade, and

Shell Collects its First $3.0 Billion from Asset Sale

November 2, 2017

Shell completes sale of North Sea blocks to Chrysaor Shell (ticker: RDSA) has completed the sale of a package of UK North Sea assets to Chrysaor for a total of up to $3.8 billion, including an initial consideration of $3.0 billion and a payment of up to $600 million between 2018-2021 subject to commodity price, with potential further payments of

More Gas = More Polyethylene: First of Two 650,000 Tons-Per-Year Polyethylene Lines Begins Production in Mont Belvieu

October 19, 2017

First polyethylene shipment from mega-plant is slated for export from Houston in October ExxonMobil (ticker: XOM) Chemical Company started production on the first of two new 650,000 tons-per-year high-performance polyethylene lines at its plastics plant in Mont Belvieu, Texas. The full project, part of the company’s multi-billion dollar expansion project in the Baytown area and ExxonMobil’s broader Growing the Gulf expansion

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