Belegger.nl

[verwijderd] 7 november 2005 12:45

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Shell over-reliant on outside contractors for cost/project management - report

LONDON (AFX) - An internal analysis at Royal Dutch Shell has found the
company over-reliant on outside contractors to manage large exploration and
production projects, the Financial Times reported.

Ed Merrow, an outside consultant commissioned by Shell to evaluate project
management, found the company was "almost wholly dependent" on contractors for
critical functions, including scheduling and cost control. The presentation
evaluated 13 projects.

Shell's dependence on contractors may help explain why costs have spiralled
at some of its largest projects, the newspaper noted.

This summer, the company said the price tag of Sakhalin-2, a giant natural
gas project in eastern Russia, had doubled to 20 bln usd, but gave few details
about why or how.

Shell CEO Jeroen van der Veer recently set up a "project academy" to improve
the company's ability to manage large projects.

newsdesk@afxnews.com

jms

[verwijderd] 7 november 2005 14:32

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Dit nieuws doet de koers zichtbaar geen goed.
Zakt als een baksteen.
Ik vind het een positief bericht(opzetten project academy), maar olie beleggers denken er dus anders over.

[verwijderd] 7 november 2005 17:00

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www.iea.org/Textbase/press/pressdetai...

[verwijderd] 7 november 2005 21:18

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Shell Exploration planning return to New Orleans

The Associated Press

NEW ORLEANS - Shell Exploration & Production Co., one of the city's largest white-collar employers, plans to have its operation in New Orleans running again next year, the company said Monday.

Shell had 1,474 exploration and production staff members living and working in the New Orleans region prior to Hurricane Katrina's strike on Aug. 29. Since then, Shell has had temporary offices in Robert, La., Baton Rouge and Houston.

Shell said those offices will soon be consolidated again in New Orleans "assuming the city fully restored and able to support full operating needs." The company said the employees are expected to return during the first six months of 2006.

The exact timing of the return "will be based on a number of factors, including availability of public services and maintaining short-term business continuity," the company said.

"The Gulf of Mexico and our New Orleans-area base of operations were important to us prior to Aug. 29, and Katrina hasn't change that," said Marvin Odum, a Shell executive vice present.

Shell also said it had offered its help to state and city officials in the city's overall rebuilding program.

[verwijderd] 8 november 2005 20:43

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Transocean to upgrade rig for Royal Dutch Shell
Transocean Inc. said Tuesday it will upgrade one of its Sedco 700-series semisubmersible rigs for an affiliate of Royal Dutch Shell.

Under the terms of the agreement, Shell has committed to a three-year drilling contract with an option to extend the contract up to two years.

Work on the rig is expected to be completed and begin drilling operations by May 2007.

The estimated cost of the upgrade, which includes dynamic positioning station keeping and water depth drilling capability up to a maximum of 6,000 feet, is $300 million.

Transocean said revenues of about $385 million could be generated over the three-year contract. Revenues that could be generated during the option period are subject to mutually agreed dayrates.

The upgraded Sedco 700-series unit will increase Transocean's High-Specification Floaters fleet to 33 units, with 29 of the units capable of operating in water depths of 4,500 feet and greater.

Transocean (NYSE: RIG) is the largest offshore drilling contractor in the world with a fleet of 92 mobile offshore drilling units.

[verwijderd] 9 november 2005 19:00

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Geen vervolging voormalige Shell-top in reservekwestie

LONDEN (ANP) - De Britse financiële toezichthouder FSA onderneemt geen verdere stappen tegen de voormalige bestuurders van het olieconcern Shell. Dat liet de FSA woensdag na afronding van een onderzoek weten.
Shell moest in januari 2004 plotseling zijn bewezen olie- en gasreserves afwaarderen. Het reservedebacle kostte topman Philip Watts en productiechef Walter van de Vijver de kop, terwijl ook financieel directeur Judy Boynton van haar functie werd ontheven.
Vorig jaar augustus trof Shell met de FSA en de Amerikaanse beurstoezichthouder SEC een schikking van 150 miljoen dollar in het onderzoek naar de waardering van de reserves

[verwijderd] 9 november 2005 19:02

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Shell Executive Sees Return Of 150,000 BOE/D In US Gulf In 4Q

Wednesday November 9, 11:24 AM EST

NEW YORK -(Dow Jones)- Shell Oil Company, a U.S. arm of Royal Dutch Shell PLC (RDSB.LN), expects to return 150,000 barrels of oil equivalent a day of its U.S. Gulf of Mexico production by the end of the year, said John Hofmeister, president of the company, in testimony before the a joint session of the Senate energy and commerce committees.

Shell has already restored more than 200,000 boe/day in the Gulf of its pre- Hurricane Katrina 450,000 boe/day output.

The additional volumes will come from deepwater platforms Ursa, Mensa and Auger, Hofmeister said. Shell's Mars platform, which was severely damaged by the Hurricane Katrina, will remain off line until second half of 2006, he said.

Shell lost approximately 15 million boe/day of its Gulf production in the third quarter, and expects another 18 million boe/day to be deferred in the fourth quarter, Hofmeister said.

-By Katya Kazakina; Dow Jones Newswires; 201-938-4427;

[verwijderd] 9 november 2005 19:02

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Shell to return to New Orleans, others not sure yet
Associated Press

NEW ORLEANS — Although Shell Exploration & Production Co. says it will reopen its New Orleans operation next year, several other energy companies have not decided their future plans.

On Monday, Shell said it expects its 1,474 New Orleans-area employees to return to their regular stations during the first and second quarters of 2006.

Chevron Texaco, which employed approximately 1,000 before the storm hit Aug. 29, said its building should be ready by the first quarter of next year. But the company said it will be studying housing availability and the city's infrastructure.

"Primarily we are concerned for the safety and security of our employees and the reliability of utilities," said Chevron Texaco spokesman Matt Carmichael. "Once those issues are satisfactorily addressed, we will be in a better position to make a long-term plan."

Carmichael said the company does not know how many workers will return to New Orleans.

Dominion Exploration and Production Inc. said its building in the central business district was seriously damaged. Company spokesman Dan Donovan said Dominion may rent a temporary office elsewhere in the city.

Energy Partners Ltd. moved 70 employees from New Orleans to Houston in the Katrina evacuation and had not made return plans final even though its office space is habitable, said company spokesman Al Petrie.

Energy Partners chairman Richard Bachmann heads a coalition of energy businesses, banks and law firms that want some assurances about levee protection and business incentives before they make plans to return. The incentives should be comparable to those offered in Texas and Mississippi, Petrie said.

--------------------------------------------------------------------------------

[verwijderd] 9 november 2005 19:26

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Shell Oil President:Not Enough Crude Available To Meet Demand

Wednesday November 9, 12:57 PM EST

NEW YORK -(Dow Jones)- At a time of considerable debate about the damage high energy prices have done to demand, Shell Oil (RDSB.LN) President John Hofmeister said the reason crude prices have been high has been because of a shortage of supply and excess demand.

Responding to a question at a Senate hearing about why oil and refined product prices are so high, Hofmeister said the "availability of crude is simply not sufficient to meet all the demands put on that crude."

Similarly, he said demand for products refined from oil "is keeping product prices high."

Shell Oil is the U.S. unit of Royal Dutch Shell PLC (RDSB.LN).

Having peaked at just over $70 a barrel in the wake of Hurricane Katrina, oil prices have since fallen considerably, with benchmark futures on the New York Mercantile Exchange trading just below $60 a barrel in early afternoon trade.

Prices remain high by any historical measures however, as do prices of certain refined products.

Others in the oil industry, including Exxon Mobil Corp. (XOM) (XOM) Chairman and Chief Executive Lee Raymond have said crude prices are currently out of line with supply and demand. Raymond said at the same hearing that speculation and uncertainty around the world was playing a considerable role in keeping prices artificially high.

Data released Wednesday from the Energy Information Administration showed crude stocks rising much more than expected and gasoline inventories also surging. Crude stocks rose 4.5 million barrels to 323.6 million barrels and gasoline inventories rose 4.2 million barrels to 201.1 million barrels.

-Grainne McCarthy; Dow Jones Newswires; 201 938 2381; grainne.mccarthy@ dowjones.com

(END) Dow Jones Newswires

11-09-05 1257ET

[verwijderd] 12 november 2005 06:40

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Shell Executive: Oil Shale Production Estimates Too Optimistic

Friday November 11, 6:32 PM EST

DENVER -(Dow Jones)- The federal government has overstated oil shale's production potential, the chief executive of Shell's oil shale unit said Friday.

The U.S. Department of Energy has estimated that the U.S. could produce 10 million barrels of oil a day from oil shale by 2020, which would help ease the nation's seemingly insatiable appetite for oil.

"It's really difficult for me to see that happening," Steve Mut, CEO of the Shell Unconventional Resources unit of Shell Exploration & Production, told attendees of the Denver World Oil Conference Friday. Shell Exploration is a unit of Royal Dutch Shell PLC (RDSA).

Based on a "best-case" scenario, Mut said, U.S. oil shale production by 2015 will still be "far less than 1 million barrels a day," and so it would be difficult to reach even the 5-million-barrel-a-day mark just five years later.

"Any extrapolation from where we are today would have to be prefaced on the success of cracking a nut that people have been trying to crack for 100 years and haven't yet," Mut said.

Energy companies have been trying for decades, unsuccessfully, to tap into oil shale resources in the U.S.

The energy department has estimated that 2 trillion barrels of oil are locked in oil shale deposits in the U.S., mainly in Colorado, Wyoming and Utah. Oil shale is a sedimentary rock that releases a liquid that can be processed into oil when heated.

Mut said Shell has been working for 23 years on a process to recover the oil shale. In 1996, Shell successfully carried out its first field test of its In- situ Conversion Process in a field about 200 miles west of Denver.

The ICP process basically injects electric heat into the earth's subsurface to speed up the process of oil and gas maturation by tens of millions of years.

For each unit of energy needed to heat the subsurface, the ICP process produces about 3.5 units of energy, Mut said.

Shell is still in the research phase with ICP, he said, but has a target for the process to be commercially viable by the end of decade.

-By Heather Draper, Dow Jones Newswires; 303-293-9294; heather.draper@ dowjones.com

[verwijderd] 14 november 2005 20:17

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UPDATE 1-Shell says Nigeria LNG project on schedule
Mon Nov 14, 2005 11:29 AM GMT

(Recasts, adds Shell, analyst comments, background)

LONDON, Nov 14 (Reuters) - Royal Dutch Shell Plc <RDSa.L> said on Monday that construction at its NLNG Nigerian liquefied natural gas project was on schedule despite a report in the Financial Times saying the project faced delays.

Shell spokeswoman Lisa Givert said the first three trains, or liquefied natural gas (LNG) production units, were operational and that construction of trains 4, 5 and 6 remained on schedule.

"We expect that NLNG is well positioned to meet all its contractual commitments to customers in 2006 and beyond," Givert said.

The FT report suggested the delays, which it did not specify, meant the Shell-led project faced a high risk of not meeting its contractual obligations to supply gas to customers.

The newspaper said this could cost the world's third-largest oil company by market value and its project partners more than $1.2 billion.

The FT said it had obtained a draft report of NLNG's five-year strategic plan dated Oct. 5, 2005, which said the project could face a shortage of as much as 50 cargoes in 2006 and 2007.

Shell's partners in the Nigerian Liquefied Natural Gas Co., or NLNG, are the Nigerian National Petroleum Corp., which owns a 49 percent stake; France's Total <TOTF.PA> with 15 percent; and Italian oil major ENI <ENI.MI>, which holds 10.4 percent.

According to the draft strategic plan, NLNG has put in place contingency plans to head off the possible cargo shortage, and if those measures are successful, the project will be able to meet its contractual obligations, the FT said.

Analysts at Citigroup said they were surprised by the FT report because Total hosted a site visit for analysts last week, at which no potential cargo shortfall was flagged.

On the contrary, "much emphasis was placed on the fact that there were already sufficient reserves for a seventh LNG train of 8 million tonnes per annum and that a ninth train was being considered," Citigroup said in a research note.

The plant, located on Bonny Island in southeastern Nigeria, produces 10.5 million tonnes a year of cooled gas for export on long-term contracts to Europe and North America, mostly for power generation.

Shell has been plagued by delays and massive cost overruns on large projects including its Sahkalin-2 LNG project off Russia's east coast and the Bonga oil project in Nigeria.

However, on Sept. 29, Shell Chief Executive Jeroen van der Veer told Reuters in an interview that NLNG was "on time, on scale and on budget."

[verwijderd] 14 november 2005 20:18

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Royal Dutch Shell plc: Buyback of Own Shares

LONDON, November 14 /PRNewswire-FirstCall/ -- Royal Dutch Shell plc
(NYSE: RDS.A; NYSE: RDS.B) announces that on 14 November, 2005 it purchased
for cancellation 1,600,000 "A" Shares at a price of 25.82 euros per share. It
further announces that on the same date it purchased for cancellation 380,000
"A" Shares at a price of 1,738.10 pence per share.
Following the cancellation of these shares, the remaining number of "A"
Shares of Royal Dutch Shell plc will be 3,973,039,000.
As of 14 November, 2005 2,759,360,000 "B" Shares of Royal Dutch Shell plc
were in issue.

[verwijderd] 16 november 2005 14:40

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OPEC verhoogt verwachting vraag naar olie in 2005
Woensdag 16 November 2005 14:16
Amsterdam (BETTEN BEURSMEDIA NEWS) - De organisatie van olieproduceren en exporterende (OPEC) heeft de verwachting voor de olievraag in 2005 verhoogd. De kartelorganisatie schrijft dat woensdag in haar Maandrapport over de maand november.

De OPEC verwacht dat de mondiale vraag naar olie in 2005 zal uitkomen op gemiddeld 83,3 miljoen vaten olie-equivalent per dag. Dat komt neer op een groei van 1,2 miljoen vaten olie-equivalent per dag of 1,4% ten opzichte van 2004.

Voor 2006 wordt een groei van de vraag verwacht van gemiddeld 1,5 miljoen vaten olie-equivalent per dag of 1,8% tot 84,8 miljoen vaten oie-equivalent per dag ten opzichte van een jaar eerder.

Volgens de OPEC staan de meer gunstige vooruitzichten voor de wereldeconomie aan de basis van de stijging van de vraag. Daarnaast zou de stijgende vraag vanuit China een bijdrage leveren.

De OPEC verwacht dat de vraag naar OPEC-olie in 2005 op 28,8 miljoen vaten olie-equivalent per dag zal komen te liggen. Dat is zo'n 110.000 vaten meer dan eerder werd verwacht. In het vierde kwartaal schat de OPEC de behoefte aan OPEC-olie in het vierde kwartaal 276.000 vaten hoger zal komen te liggen dan tot nu toe werd aangenomen.

De huidige productie zou volgens de OPEC niet voldoende zijn om de stijgende vraag aan te kunnen. Wel stelt de organisatie voor het vierde kwartaal een reservecapaciteit te hebben van zo'n 8,1% tegen 4,9% in dezelfde periode een jaar eerder.

Voor 2006 verwacht de OPEC dat de vraag naar haar olie op gemiddeld 28,6 miljoen vaten olie-equivalent zal uitkomen. Dat is een daling van 40.000 vaten ten opzichte van het maandbericht van oktober.

Voor het eerste kwartaal van 2006 wordt een vraag naar gemiddeld 29,8 miljoen vaten per dag verwacht, voor het tweede kwartaal van 27,7 miljoen vaten, voor het derde kwartaal van 27,8 miljoen vaten en voor het vierde kwartaal van 29,0 miljoen vaten olie-equivalent per dag.

Vanmiddag wordt in de Verenigde Staten de ontwikkeling van de olievoorraden van vorige week bekendgemaakt.

[verwijderd] 16 november 2005 14:42

0

Dus meer vraag en niet genoeg productie, zou toch olieprijs omhoog moeten gaan en daarom ook shell !?
Of zie ik weer wat over het hoofd?

Rijke Duivel 16 november 2005 18:17

0

quote:
mda schreef:
Dus meer vraag en niet genoeg productie, zou toch olieprijs omhoog moeten gaan en daarom ook shell !?
Of zie ik weer wat over het hoofd?

Neen alleen waren er heel wat beleggers die dit hadden voorzien en al posities hadden ingenomen. En nog andere beleggers hadden die tweede groep ook zien aankomen en als puntje bij paaltje komt verandert er dus niks. Heerlijk toch?

[verwijderd] 16 november 2005 20:34

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Shell makes a virtue of ethanol
James Stanford
17nov05

SHELL has decided to tackle the negative image of ethanol head-on.

The fuel-maker has launched a high performance fuel for sportscars that contains 5 per cent ethanol.
Optimax Extreme has an octane rating of 100 RON, higher than existing performance fuels including regular Optimax with 98 RON.

The introduction of the fuel, which may offer performance gains for some hi-tech sportscars, was supported by acting Prime Minister and National Party leader Mark Vaile.

Mr Vaile and Prime Minister John Howard met the oil companies last month to encourage them to include Australian ethanol in their petrol.

The Government wants to the local oil companies to use 350 million litres of biofuels -- mainly ethanol and some biodiesel -- every year by 2010.

Australian ethanol is made from sugar cane and wheat, and supplying oil companies will be a big boost for battling cane growers in Queensland and New South Wales.

It can damage engine components of some models, but fuel blends with up to 10 per cent ethanol have been declared safe by car makers.

Shell will include ethanol only in the Optimax Extreme fuel to start with, but looks set to introduce ethanol in other fuels except diesel if the public response is positive.

Mr Vaile said the inclusion of Australian-made ethanol in Shell fuel is a positive step towards establishing a viable local ethanol industry.

"The move into biofuels by Shell in Australia is a first for the country and yet another tick of approval for ethanol by one of the four oil majors," Mr Vaile said.

"The more readily ethanol is available across the country, the more we will see customers give the fuel a go."

Shell is promoting the Optimax Extreme fuel as containing "the natural quality of ethanol," and advertising material states it is a "cleaner burning, renewable component that helps reduce greenhouse gas emissions."

Going on current fuel prices, Optimax Extreme will cost 13 a litre more than standard unleaded and 3 a litre more than regular Optimax.

Shell Australia fuel sales marketing manager Campbell Gough said the type of customers that Optimax Extreme would appeal to would not be worried by the extra cost.

"This is the Rolex of fuels," Mr Gough said.

privacy terms © Herald and Weekly Times

[verwijderd] 16 november 2005 21:40

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Amsterdam (BETTEN BEURSMEDIA NEWS) - In de Verenigde Staten zijn de voorraden ruwe olie in de week tot 11 november 2005 gedaald met 2,159 miljoen vaten tot 321,397 miljoen. Dat heeft het Amerikaanse Department of Energy woensdag bekendgemaakt. Economen hadden gemiddeld gerekend op een stijging met 1,725 miljoen vaten.

De voorraden benzine stegen volgens de statistieken van het energiedepartement met 4,223 miljoen vaten tot 201,127 miljoen. Hiervoor lag de consensus op een stijging van 1,379 miljoen vaten.

De voorraden stookolie en diesel stegen met 2,527 miljoen vaten tot 123,374 miljoen vaten, waar economen gemiddeld mikten op een stijging met 513.000 vaten.

Volgens het American Petroleum Institute (API) daalden de voorraden ruwe olie vorige week met 3,856 miljoen vaten tot 322,615 miljoen en namen de benzinevoorraden af met 1,731 miljoen vaten tot 201,731 miljoen. De voorraden stookolie en diesel stegen volgens het API met 2,604 miljoen vaten tot 126,235 miljoen.

[verwijderd] 17 november 2005 15:10

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Amsterdam wint slag om Shell-aandelen

Indexproducent Dow Jones Stoxx neemt vanaf 16 december de Amsterdamse notering van Royal Dutch Shell op in de Europe Stoxx 50-index. Nu maakt de Britse notering hier deel van uit.

Deze beslissing resulteert waarschijnlijk in meer handel in Amsterdam. Waarnemers spreken van een 'opsteker' voor Euronext in zijn strijd met de Londense beurs. Bij de fusie van de Nederlandse en Britse tak van Shell vreesden zij dat handel naar Londen zou verdwijnen.

De grotere liquiditeit en de lagere kosten zijn de belangrijkste reden voor het besluit. In Amsterdam is de spread gemiddeld vier basispunten lager dan in Londen.

FRITS CONIJN

[verwijderd] 17 november 2005 15:12

0

Shell buys MidEast naphtha to test new China cracker
SINGAPORE, Nov 17 (Reuters) - Shell has bought a 75,000-tonne Middle Eastern naphtha cargo for a trial run at its new China cracker expected to start up at the end of next month, traders said on Thursday.

The cargo is due to arrive at Huizhou, in southern Guangdong province, in early December to feed an 800,000-tonne-per-year naphtha cracker.

The $4.3 billion petrochemical complex, a joint-venture between the European oil giant and China National Offshore Oil Corp. (CNOOC), would operate a condensate splitter, a unit that produces naphtha. Condensate is a super light crude oil.

That gives the venture flexibility to either process naphtha secured from the market or to run condensate, which can be sourced from Australia, where Shell is an equity producer in North West Shelf field.

"It can also take condensate from CNOOC's production in Indonesia," one trader said. CNOOC's listed unit, CNOOC Ltd. is one of the main offshore producers in Indonesia.

Shell's purchase would place China's naphtha trade for December into an almost balanced position from November when it was a net exporter, traders said.

But it was too early to conclude if the joint-venture would continue to purchase naphtha in the coming months, they added.

The Guangdong cracker, the most costly foreign-funded petrochemical investment so far in China, followed two others in eastern China: one operated by BP Plc. and top Asian refiner Sinopec Corp. and the other between German chemical major BASF and Sinopec.

A Shell executive told Reuters in September that the Huizhou naphtha cracker was on track to start up by late this year and downstream units to process ethylene into petrochemicals are slated to come on line in early 2006.

China, Asia's No.1 petrochemicals importer, is pushing for a massive expansion plan to boost domestic production capacities to meet double-digit demand growth in products ranging from paints to diapers.

[verwijderd] 17 november 2005 16:24

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Shell ruilt belang tegen gasvelden Total

AMSTERDAM (Dow Jones)--Oliemaatschappij Royal Dutch Shell heeft een belang geruild met de Franse evenknie Total. Het betreft een 17%-belang van Shell in het door Chevron geëxploiteerde Tahiti-veld in de Golf van Mexico, geruild voor de gasactiviteiten in Zuid-Texas.

De geruilde Texaanse gasactiviteiten bestaan uit belangen in drie velden en een additioneel belang in een vierde dat reeds door Shell wordt geëxploiteerd. De velden produceren ruim 3 miljoen kubieke meter aardgas per dag. De totale productie van Shell in Zuid-Texas bedraagt nu 8,5 miljoen kubieke meter aardgas per dag.

Shell verwacht dat de transactie in januari 2006 voltooid zal zijn.

Dow Jones Nieuwsdienst; +31-20-5890270

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