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2015-11-05 19:20:00

SHELL WILL SELL $20 BLN

SHELL WILL SELL $20 BLN

Royal Dutch Shell announced organizational changes in its business as it prepares for its biggest ever takeover amid what it expects to be a prolonged downturn in oil prices.

Europe's biggest oil company will run its natural gas business as a "stand-alone organization" led by Maarten Wetselaar, who will become integrated gas director and a member of the executive committee, Shell said in a statement on Tuesday.

Marvin Odum, currently director of the company's upstream unit in the Americas, will lead a new unconventional resources unit, including heavy oil and shale activities in the Americas.

Shell also raised its estimate of savings from synergies for the acquisition of BG Group by $1 billion to $3.5 billion. The company is targeting $11 billion of total cost savings this year, including a 10% reduction in operating costs and 20% lower capital spending, according to the statement.

It plans to sell $20 billion of asset in the two years to the end of 2015 and reiterated a plan to dispose off $30 billion from 2016 to 2018, following the acquisition of BG Group.

The net asset value Brent crude price break even for the BG deal is currently estimated to be in the mid-$60s, the company said.

gasprocessingnews.com

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SHELL LOSS $6.12 BLN 

SHELL: FUNDAMENTAL DRIVERS 

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Tags: SHELL, BG, EUROPE

Chronicle:

SHELL WILL SELL $20 BLN
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

SHELL WILL SELL $20 BLN
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

SHELL WILL SELL $20 BLN
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

SHELL WILL SELL $20 BLN
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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