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LON100:RDSB, Aug 24, 11:55 UTC

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UPDATED: Court orders FG to renew Shell OML 11 licence

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SDPC had sought to compel the two ministers to renew OML 11, in addition to 14 other oil mining leases approved for it in June 30. According to a letter from the State House, Abuja, to the Group Managing Director of NNPC, dated March 1 with reference number SH/COS/24/A/8540 and signed by the Chief of Staff to the President, Abba Kyari, the president’s directive was clearly stated that the entire operatorship of OML 11 should be taken over by the NNPC/Nigeria Petroleum Development Company not later than April 30. The lawyer therefore urged the judge to hold that SPDC suit was destitute of merit and suffered incurable legal deficiency and should be dismissed. However, the judge adjourned till Aug. 23 to enable the government respond to issues of facts raised by the plaintiff in its further and better affidavit. “I hereby order that the defendants are hereby compel to grant the application for the OML 11 but it shall be in accordance with Paragraph 10 of the first schedule to the Petroleum Act as regard the number of years stated therein and that there shall be no reduction in size of OML 11 as being contemplated by the defendants,” Justice Taiwo ruled.

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ROYAL DUTCH SHELL PLC - Transaction in Own Shares

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Royal Dutch Shell plc (the ‘Company’) announces that on August 23, 2019 it purchased the following number of "A" Shares for cancellation. Aggregated information on “A” shares purchased according to trading venues:. In respect of this programme, Citigroup Global Markets Limited will make trading decisions in relation to the Company’s securities independently of the Company for a period from August 1, 2019 up to and including October 28, 2019. Any such share purchases will be effected within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares, Chapter 12 of the Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes and the Commission Delegated Regulation (EU) 2016/1052.

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Shell (RDS.A) to Acquire Australia's ERM Power for $419M

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Royal Dutch Shell RDS.A has offered to buy ERM Power Ltd for A$617 million ($419 million), thus marking its entry into Australia’s highly competitive energy market. The all-cash takeover bid represents 43% premium to ERM’s closing share price of A$1.72 on Aug 21, thereby valuing ERM at A$2.46 a share. After the culmination of the agreement, Shell will obtain full ownership of the ERM Power. With this pact, Shell — one of the world’s largest oil and gas companies — will have a power supplier capturing nearly 25% share of the commercial and the industrial retail market in Australia.

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finance.yahoo.com
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Heat from Mother Earth - Shell on geothermal energy ambitions in the Netherlands

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Oil company Shell announced the entry into geothermal energy a while ago and has now shared a few more details on geothermal energy development in the Netherlands and its view on the future role of geothermal energy. “In the past ten years, gardeners in South Holland have been the first in the Netherlands to gain experience with geothermal energy and thus pave the way for the application of geothermal energy on a much larger scale,” says Eveline Rosendaal, geo-energy program manager at Energie Beheer Nederland (EBN). Such a combination of two wells, a so-called ‘doublet’, can provide heat for twenty to thirty consecutive years, day in day out, with the temperature of the water expected to fall little. For the investment to be possible, at least four thousand houses must be connected to a doublet. Rosendaal: “EBN has been commissioned by the Ministry of Economic Affairs and Climate to map the potential for geothermal heat in these areas with so-called 2D seismics and test drilling. For this we started SCAN, or the Seismic Campaign for Geothermal Energy in the Netherlands.

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thinkgeoenergy.com
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First-Ever Shell Day Tomorrow

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Please purchase a subscription to read our premium content. If you have a subscription, please log in or sign up for an account on our website to continue. After registering you can read 3 stories every 30 days. A subscription will give you unlimited access to the website. If you already subscribe and do not know your account number, contact us at 508-299-8379 or circulation@capenews.net for assistance. We hope that you continue to enjoy our free content.

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capenews.net
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Thursday, August 22


News

Shell Moves Into Power Generation - Diesel & Gas Turbine Worldwide

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Shell Energy Australia, a subsidiary of Royal Dutch Shell, said it will acquire 100% of the shares in ERM Power (ERM), the second-largest commercial and industrial electricity retailer in Australia, for $AUD 617 million less dividend adjustments payable by ERM. The company is also an electricity generator, owning and operating two gas-fired generation plants, the companies said in a news release. ERM’s Neerabup and Oakey Power plants have a total installed capacity of 662MW (of which ERM Power has 497MW equity ownership). Neerabup is a 330 MW two-unit peaking power station at Neerabup, about 40 km north of Perth and incorporates a 30 km high-pressure gas pipeline and gas compressor station that provides a connection to the Dampier to Bunbury Natural Gas Pipeline and linepack storage of gas to allow for generation at peak price periods.

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dieselgasturbine.com
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TechnipFMC Awarded a Significant Integrated EPCI (iEPCI™) Contract for the Shell PowerNap project in the Gulf of Mexico

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TechnipFMC (NYSE: FTI) (Paris: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by Shell for the PowerNap project, located in the Gulf of Mexico. TechnipFMC will design, manufacture and install subsea hardware, including subsea tree systems, subsea distribution controls, topside controls, flying leads and connectors for three wells, in addition to the supply of 20 miles of production umbilical and flowlines. We look forward to executing the scope of work and to further expanding our 25-year successful relationship with Shell and our deep water portfolio in the Gulf of Mexico.”. The project is expected to complete installation in late 2021 and produce up to 35,000 barrels per day of oil equivalent at peak rates. For TechnipFMC, a “significant” contract is between $75 million and $250 million.

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uk.finance.yahoo.com
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Shell Takes Australia Power Plunge With $418 Million ERM Bid

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(Bloomberg) -- Royal Dutch Shell Plc has taken the plunge into Australia’s energy market with a $418 million deal to buy ERM Power Ltd., the nation’s second-largest electricity retailer to commercial and industrial customers, as it drives toward a goal to become the world’s top power producer by 2030. Shell had previously expressed interest in deeper involvement in Australia’s electricity sector as it pivots toward gas and power amid the global shift to cleaner energy. ERM owns two gas-fired generators, as well as the retail business, which Shell said will play an important role as Australia makes the switch away from coal-fired power. “This acquisition aligns with Shell’s global ambition to expand our integrated power business and builds on Shell Energy Australia’s existing gas marketing and trading capability,” Zoe Yujnovich, the company’s Australia chairman, said in a statement.

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finance.yahoo.com
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Shell Ventures invests in Richmond energy storage company

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The investment aims to decrease the carbon footprint of the energy products they sell by 20 per cent by 2035 and by around 50 per cent by 2050. “To have strong and active owners has been crucial to our success and has taught us that by working closely with strategic investors we can achieve great results,” said Geir Bjorkeli, CEO of Corvus Energy. He added that with Shell’s investment, Corvus can reach out to a larger market and apply their technology to more rigs and platforms for offshore vessel hybridization. Kirk Coburn, investment director of Shell Ventures, said that “Corvus Energy is a strong partner for Shell,” adding that “current hybrid and zero-emission projects have proven that the potential for reducing costs and cutting emissions are substantial, which Shell will take advantage of in its offshore operations.”.

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richmond-news.com
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Wednesday, August 21


News

Shell enters Australia power industry with $419 mln bid for ERM Power

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MELBOURNE — Royal Dutch Shell has made its first foray into Australia’s highly competitive power sector with a A$617 million ($419 million) takeover offer for ERM Power Ltd, the country’s no.2 energy retailer to businesses and industry. “This acquisition aligns with Shell’s global ambition to expand our integrated power business and builds on Shell Energy Australia’s existing gas marketing and trading capability,” Shell Australia’s Country Chair Zoe Yujnovich said in a statement. The ERM acquisition fits well with Shell’s recent takeover of German solar battery maker sonnen, which has a presence in Australia, giving Shell a small foothold in selling to households alongside ERM’s big business customers. It forecast sales would grow to 18.5 TWh this year. Origin Energy, which also reported its results on Thursday, said it was undaunted by the pending entry of Shell in power retailing, saying Origin has managed to grow its share of commercial and industrial customers even with ERM as a strong competitor to date.

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