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Royal Dutch Shell PLC

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  • Chevron exits Caltex Australia stake for $3.7 bln Friday, 27 Mar 2015 | 10:35 PM ET

    PERTH, March 28- U.S. energy giant Chevron sold its entire stake in refiner Caltex Australia Ltd for A $4.7 billion in Asia's biggest block deal this year, as falling oil prices and high costs hurt margins. Offshore institutional investor demand for the 50 percent stake in Australia's biggest refiner was strong, with bidding driving the final price to A $35 a share,...

  • With the price of crude plumbing lows not seen since 2009, Royal Dutch Shell, Whiting Petroleum Corp and many others are turning to rocket fuel, Big Data, lasers, spectrometers and other new or revamped technologies to do more for less. Baker Hughes Inc saw more client inquiries about products that increase efficiency of existing wells in the first three months...

  • *Russia's Rosneft to sell Trafigura up to 1.6 mln T in April. MOSCOW/ LONDON, March 27- Trafigura is emerging as the new king of Russian oil trading, expanding its deal with sanctions-hit Rosneft to export $500 million worth of crude in April from the Baltic, the Mediterranean and Pacific ports, market sources said. The move comes as European Union and U.S. sanctions...

  • HONG KONG/ SYDNEY, March 27- U.S. energy firm Chevron is seeking to sell its entire stake in Caltex Australia Ltd for about A $4.6 billion, exiting Australia's biggest refiner after nearly 40 years as falling oil prices and high costs hurt margins. A successful sale of Chevron's 50 percent stake, which the company is offering at a discount to market prices, would make...

  • HOUSTON, March 26- Motiva Enterprises said on Thursday that operations at its Convent and Norco, Louisiana, refineries will be integrated to take advantage of increased production of lower-cost U.S. shale oil. Gas oil produced by the Convent refinery will go to the expanded hydrocracker and 112,000 bpd catalytic cracking unit at the Norco plant.

  • WASHINGTON— The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, an Energy Department advisory council says in a study to be released Friday. "To remain globally competitive and to be positioned to provide global leadership and influence in the...

  • INTERVIEW-Iraq oil minister sees $70 crude by end 2015 Thursday, 26 Mar 2015 | 3:33 PM ET

    BAGHDAD, March 26- Iraq's Oil Minister Adel Abdel Mehdi predicted world oil prices could reach $70 a barrel by the end of 2015 and played down the impact of the emerging conflict in Yemen on prices. A global slump in oil prices has slashed government revenue in Iraq, prompting the OPEC producer to renegotiate contracts with oil majors as it faces a costly military...

  • PARIS, March 24- European shares inched higher in early trade on Tuesday after forecast-beating economic data from Germany helped offset a poor reading of Chinese factory activity. Figures showed Germany's private sector grew in March at its strongest rate since July, in a further sign that Europe's largest economy is gaining momentum.

  • SINGAPORE, March 19- Iraq has notified its exploration partners that it plans to start splitting its southern Basra oil production into two grades due to quality differences, and offer a heavier type of crude from May onwards, sources with knowledge of the matter said on Thursday. Holders of technical service contracts include Lukoil, Petronas, CNPC, CNOOC, BP,...

  • SINGAPORE, March 19- OPEC's second largest producer Iraq has notified its partners that it plans to start splitting its southern oil production into two grades and offer a heavier type of crude from May onwards, sources with knowledge of the matter said on Thursday. Iraq's State Oil Marketing Organization said it will allocate Basra Heavy crude, with an API...

  • Canadian oil sands woes reach far-flung eastern shores Thursday, 19 Mar 2015 | 1:00 AM ET

    Cape Breton is another example how the 60 percent slide in oil prices since last June has rippled far and wide, affecting property markets in Alberta and North Dakota, helicopter sales in Houston, the Canadian dollar and national interest rates. Many young workers head to Fort McMurray in northern Alberta, lured by big paychecks awaiting at oil sands projects...

  • LONDON, March 16- South Africa's mining minister said on Monday he expected to start issuing shale exploration licences later this year. "At the moment we are going through the consultation process," Ngoako Ramatlhodi told Reuters on the sidelines of the Chatham House extractive Industries in Africa conference. Earlier in the day, Royal Dutch Shell had said it...

  • HOUSTON, March 16- A tentative national agreement to end a six-week strike at twelve U.S. refineries has struggled to win ratification at eight plants as workers and companies struggle to settle local issues, according to union officials. The deal reached on Thursday by the United Steelworkers and lead industry negotiator Royal Dutch Shell Plc to end the...

  • UPDATE 2-Shell pulls back from shale in South Africa Monday, 16 Mar 2015 | 10:23 AM ET

    JOHANNESBURG, March 16- Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices and delays in obtaining an exploration licence for the onshore Karoo Basin, it said on Monday. Chairman Bonang Mohale, who said the company was going to a "low cost holding position", told Reuters oil prices would need to be between $60 to $80 a...

  • Eni becomes first oil major to cut its dividend Friday, 13 Mar 2015 | 12:02 PM ET

    Italy's Eni cuts dividend and suspends buybacks - becoming the first oil major to reduce payouts amid a steep oil price decline.

  • HOUSTON, March 12- The United Steelworkers union and oil companies have reached a tentative deal to end the largest U.S. refinery strike in 35 years, the labor group and people familiar with the negotiations said on Thursday. "We salute the solidarity exhibited by our membership," said USW International President Leo Gerard. Lead industry negotiator Royal Dutch...

  • HOUSTON, March 12- The United Steelworkers union and oil companies have reached a tentative deal to end the largest U.S. refinery strike in 35 years, sources familiar with the negotiations for a new labor accord said on Thursday. The tentative national agreement may not end strikes at all 12 refineries that have suffered walkouts as issues unique to local union...

  • *Iraq seeks to stem losses from falling oil prices. BAGHDAD, March 12- Oil companies have proposed millions of dollars of cuts in development spending in Iraq, a senior oil ministry official said, after Baghdad told them low oil prices and its fight against Islamic State had made payments difficult. The slump in crude prices to below $60 a barrel from $115 in June has...

  • NEW DELHI, March 12- Britain's foreign minister raised concerns in India on Thursday about a $1.6 billion retrospective tax bill charged to oil explorer Cairn Energy, and had been reassured there are no other such cases. Britain's Foreign Secretary Philip Hammond said Finance Minister Arun Jaitley explained that the Cairn case was started by the previous...

  • UPDATE 1-Shell CEO's total pay soars to $25.7 mln Thursday, 12 Mar 2015 | 8:09 AM ET

    LONDON, March 12- Royal Dutch Shell Chief Executive Ben van Beurden will earn a total 24.2 million euros for 2014, making him one of the highest-earning FTSE 100 bosses despite last year's sharp fall in oil prices. His 2014 compensation, when calculated in British pounds, places him as the second-highest-paid senior executive on the FTSE 100 share index after...