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Royal Dutch Shell News

15 Nov 2022

Alternative Fuels, Newbuilds and Retrofits are Key to Marine Industry Growth

© Eric BVD / Adobe Stock

The global marine vessel market is projected to grow from $170.75 billion in 2021 to $188.57 billion in 2028 at a CAGR of 1.43%, according to research from Fortune Business Insights.From transportation vessels to workboats to marine construction ships, companies want to grow their business, stay current with new technologies, gain a competitive edge and be good stewards of our environment.Current marine market trends include adoption of alternative fuels, acquiring new construction vessels, retrofitting existing fleet, and determining ideal solutions for procuring these vessels.

08 Feb 2022

First LNG Tanker Arrives Near Venture Global's Louisiana Calcasieu Plant

A tanker, the Yiannis, arrived near Venture Global LNG's Calcasieu Pass liquefied natural gas (LNG) export plant in Louisiana on Monday and could be first vessel to pick up a cargo at the facility, according to data from Refinitiv.Last week, Venture Global sought permission from federal energy regulators to load the first commissioning cargo from Calcasieu Pass.Venture Global asked the U.S. Federal Energy Regulatory Commission (FERC) to authorize the first cargo before Feb. 9 so the company could load that cargo on or after that date.Officials at Venture Global were not immediately available to comment on whether the Yiannis would be the first tanker to pick up LNG at the facility.Calcasieu started producing LNG around Jan.

09 Dec 2021

Chevron's Shipping Unit Joins Initiative to Cut Emissions

Credit: Chevron

Oil major Chevron Corp said on Thursday, its shipping unit has joined the Sea Cargo Charter, an initiative launched last year to cut and track emissions from ships, as efforts intensify to reduce the maritime industry's carbon footprint.Under the Sea Cargo Charter, companies, including agrigroups Cargill, ADM, and Bunge, oil majors Royal Dutch Shell and Total, and mining group Anglo American will disclose annually whether their overall ship chartering activities are aligned with International Maritime Organization (IMO) 2050 goals.IMO…

03 Dec 2021

Australian LNG Hit by Shell, Chevron Outages at Prelude, Gorgon

The Prelude FLNG facility, with the Valencia Knutsen berthed side-by-side (File Photo: Shell)

Royal Dutch Shell Plc shut production at its Prelude floating liquefied natural gas (LNG) site and Chevron Corp shut one of three processing units at its Gorgon LNG plant, both off northwestern Australia, the companies said on Friday.The Gorgon and Prelude outages are expected to boost spot LNG prices, which are up about 20% from a month ago.Shell said Prelude was hit by a power outage on Thursday after smoke was detected in an electrical utility area, and the facility is operating on back-up diesel generators.

18 Nov 2021

Chevron, Exxon Among Top Spenders at Biden Offshore Auction

Illustration - Credit: scandamerican/AdobeStock

U.S. oil majors Exxon Mobil Corp and Chevron Corp were among the top buyers at a federal auction of oil leases in the U.S. Gulf of Mexico on Wednesday that generated more than $190 million - the highest since 2019.The auction was a boon for federal coffers, but a potential setback for the climate policies of U.S. President Joe Biden, whose administration tried to suspend federal lease sales to fight global warming before a court forced them to proceed.The United States was also…

17 Nov 2021

Gulf of Mexico Lease Sale Pulls in $191.6 Million

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The Biden administration's auction of oil drilling rights in the U.S. Gulf of Mexico generated more than $190 million in high bids, bringing in more money for taxpayers than any government offshore lease sale since early 2019.The Department of Interior auction came days after the U.S. joined a global agreement that for the first time asked governments to accelerate emissions cuts by phasing down coal and fossil fuel subsidies.It was the first auction under President Joe Biden, whose administration paused drilling sales under a promise to end development on federal properties.

17 Nov 2021

U.S. Offshore Oil Auction Starts Under Court Order, Shadow of Climate Deal

For illustration; A Gulf of Mexico Platform - Credit: donvictori0/AdobeStock

The Biden administration on Wednesday will auction oil drilling rights to 80 million acres in the U.S. Gulf of Mexico days after joining a global agreement that for the first time targeted fossil fuels as the main driver of global warming.The sale by the Department of Interior will be the first under President Joe Biden, whose administration paused drilling sales under a promise to end development on federal properties. But Biden lost a court fight to oil-producing states that…

10 Nov 2021

Baker Hughes Signs Deal with Shell for Renewable Energy Credits

Baker Hughes logo - Credit:Игорь Головнёв/AdobeStock

Oil major Royal Dutch Shell's clean energy unit will provide renewable energy credits (REC) to oilfield firm Baker Hughes' facilities in United States for a two-year period, the companies said on Wednesday.

01 Oct 2021

LOOP Did Not Deliver Sour Crude from Storage in September

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The Louisiana Offshore Oil Port (LOOP), the largest U.S. privately owned deepwater crude terminal, said on Friday it made no deliveries of sour crude from storage last month, following two storms that hit the U.S. Gulf Coast.The facility closed on August 28 ahead of Hurricane Ida, which damaged production and processing facilities in the U.S. side of the Gulf of Mexico, forcing the suspension of millions of barrels of crude and gas output. A second storm, Nicholas, also caused brief interruptions for vessel navigation.The weather events particularly hit output of the Gulf's Mars sour crude…

22 Sep 2021

Top Global Firms Call for Zero Emissions Shipping by 2050

 Illustration - Image by Björn Wylezich/AdobeStock

More than 150 leading companies and organizations including oil majors and port authorities on Wednesday called for the global shipping industry to be fully decarbonized by 2050, urging governments to step up action warning time was limited.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner.UN shipping agency the International Maritime Organization (IMO), has said it aims to reduce overall greenhouse gas (GHG) emissions from ships by 50% from 2008 levels by 2050…

17 Sep 2021

Some 28% of U.S. Gulf of Mexico Crude Output Offline

Louisiana Offshore Oil Port, Pumping Platform Complex - Credit: Edibobb - Wikimedia Commons

U.S. Gulf Coast crude oil exports are flowing again after recent hurricanes took out 26 million barrels of offshore production, according to sources and Refinitiv Eikon data, with local prices easing as more shipments moved out of the region.Hurricanes Ida and Nicholas damaged platforms, pipelines and processing hubs, shutting in most offshore production for weeks. Restarts continued on Thursday with about 28% of U.S. Gulf of Mexico crude output offline. Some vessels remained at sea waiting to load U.S. crude.But of more than 50 tankers set to load U.S.

15 Sep 2021

Gulf Coast Oil Firms Return to Ida Recovery as Storm Nicholas Recedes

Royal Dutch Shell halted production at its Perdido offshore oil platform due to heavy winds caused by Nicholas - Image Copyright - Stuart Conway/Shell

Energy companies worked to restore pipeline service and electricity after Tropical Storm Nicholas passed through on Tuesday, allowing them to return to repairing the significant damage caused by Hurricane Ida two weeks ago.Nicholas, downgraded to a tropical depression late Tuesday, caused rain, flooding, and power outages in Texas and Louisiana, where some refineries remained offline in the wake of Hurricane Ida. The earlier storm shuttered most U.S. Gulf offshore oil and gas production.Colonial Pipeline, the largest U.S.

14 Sep 2021

Oil Output, Vessel Traffic Halted as Nicholas Lashes Texas

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Hurricane Nicholas on Tuesday took another swipe at U.S. Gulf Coast energy facilities, cutting offshore oil and gas output gradually recovering from the last storm and disrupting power to onshore pipeline, gas and chemical plants.Royal Dutch Shell halted production its Perdido offshore oil platform due to heavy winds, and U.S. liquefied natural gas producer Freeport LNG said processing at its Texas coast facility was halted, likely due to a power outage.Power losses briefly cut Colonial Pipeline's main gasoline and diesel lines out of Houston…

13 Sep 2021

Energy Firms Face Another Storm in US Gulf

(Image: NOAA)

Royal Dutch Shell on Monday began evacuating staff from a U.S. Gulf of Mexico oil platform, and other energy companies began preparing for hurricane-force winds from a second Gulf Coast storm in as many weeks.Tropical Storm Nicholas was about 105 miles (115 km) south of Port O'Connor, Texas, and moving north with winds of 60 miles per hour (97 kph). It could become a hurricane just ahead of landfall on Monday, according to the National Hurricane Center.Waves stirred up by Nicholas neared 12 feet (3.7 m) in height were reported outside of Port Aransas…

13 Sep 2021

Another Storm Barrels Toward US Gulf Coast

(Image: NOAA)

The Gulf Coast of Texas and Louisiana was bracing on Monday for the arrival of Tropical Storm Nicholas, which was expected to batter the region with life-threatening storm surge, flash flooding and gusty winds.The storm, carrying winds of 60 mph (97 kph), was moving erratically as it headed northward about 140 miles (225 km) south of the southern coast of Texas, the National Hurricane Center (NHC) said in a Monday morning bulletin. It was forecast to move ashore along the southern or central coast of Texas late on Monday afternoon or evening.The National Weather Service issued storm surge…

10 Sep 2021

Louisiana Offshore Oil Port Fully Reopens After Ida Damages

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The Louisiana Offshore Oil Port (LOOP), the largest U.S. privately owned deepwater crude terminal, has fully reopened its marine operations for imports and exports, a spokesperson said on Friday.The facility closed on Aug. 28 ahead of Hurricane Ida, which caused extensive damages to U.S. Gulf of Mexico oil production and processing. More than two-thirds of oil production was shut-in on Friday.There were no vessels docked at the port on Friday, the spokesperson said. However, at least one tanker…

09 Sep 2021

US Gulf of Mexico Oil Production Losses Lead to Cargo Cancellations

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U.S. oil offshore losses remained at 76% on Thursday after Hurricane Ida hit the Gulf of Mexico, according to government data, which prolonged outages and caused the first oil cargo shipment cancellations to buyers in Asia.Production should be disrupted for several more days amid lasting damages to transfer stations and offshore facilities used by different companies, analysts said, with impact to oil prices."It seems to be at least more than a week away until most of the shut-in Gulf of Mexico production is restored…

07 Sep 2021

Over 80% of U.S. Gulf of Mexico Oil Output Still Offline

Credit:Scott Bufkin/AdobeStock

More than 80% of oil production in the Gulf of Mexico remains shut in after Hurricane Ida, a U.S. regulator said on Monday, more than a week after the storm made landfall and hit critical infrastructure in the region.Energy companies have been struggling to resume production after Ida damaged platforms and caused onshore power outages. About 1.5 million barrels per day of oil production, or 84%, remains shut, while another 1.8 billion cubic feet per day of natural gas output, or 81%…

06 Sep 2021

U.S. Offshore Oil Output Still Mostly Down a Week after Hurricane Ida

A U.S. Gulf of Mexico platform - Credit: Lukas Z

Damage to oil production facilities in the U.S. Gulf of Mexico kept output largely halted on Sunday, a week after Hurricane Ida made landfall, according to offshore regulator the Bureau of Safety and Environmental Enforcement (BSEE).Energy companies have been coping with damaged platforms and onshore power outages and logistical issues, slowing efforts to restart production. Some 88% of crude oil output and 83% of natural gas production remained suspended.About 1.6 million barrels of crude oil remained offline, with only about 100,000 barrels added since Saturday.

02 Sep 2021

Nine Injured on Noble Drillship During Ida

A U.S. Coast Guard Air Station New Orleans aircrew aboard the Noble Globetrotter II. (Photo: U.S. Coast Guard)

The U.S. Coast Guard is investigating damage to a Noble Corp drillship hit by Hurricane Ida while operating in the Gulf of Mexico, a spokesperson said on Thursday.Nine crew members suffered minor injuries when the storm hit on Sunday, Noble said. Workers were treated onboard and four were taken to shore for evaluation, Noble's vice-president for Investor Relations Craig Muirhead said in a statement.The U.S.

31 Aug 2021

Hurricane Ida's Fury Cuts Deep into U.S. Oil Output, Gasoline Supplies

Credit:  NOAA NWS National Hurricane Center

Hurricane Ida pummeled U.S. Gulf Coast energy suppliers, knocking out most of the region's offshore wells and nearly half its motor fuel production and drove prices broadly higher.The storm crashed on Sunday into the Louisiana coast, tearing through U.S. offshore oil and gas fields with 150 mile per hour (241 kph) winds and pushing up to 12 feet (3.7 meters) of water ashore. More than 620,000 homes and businesses in Louisiana were without power.Production losses - including at six Gulf Coast refineries - will lift retail gasoline prices by 5 to 10 cents a gallon, said tracking firm GasBuddy.

27 Aug 2021

Oil Firms Race to Complete Gulf of Mexico Evacuations as Major Storm Approaches

Shell's Olympus Platform - Credit: Shell

U.S. oil and gas companies on Friday raced to complete evacuations from offshore Gulf of Mexico platforms as Tropical Storm Ida advanced towards oilfields that provide 17% of the nation's oil production.The storm early Friday was about 50 miles northwest of Grand Cayman Island moving north at 15 miles (24 km) and expected to intensify and become near a major hurricane when it hits the central U.S. Gulf Coast this weekend, according to the National Hurricane Center (NHC). A major…

26 Aug 2021

US Offshore Oil Workers Flee as Storm Approaches Gulf of Mexico

© andrej pol / Adobe Stock

U.S. energy companies on Thursday began airlifting workers from Gulf of Mexico oil production platforms and moved vessels from the path of what could become a devastating hurricane by the weekend.A storm is brewing in the Caribbean Sea and is forecast to grind through the main oil-producing region of the Gulf. It could become a major hurricane ahead of landfall on the central Gulf Coast, the National Hurricane Center said. Hurricanes with winds of up to 111 miles (178 km) per hour are classified as major and can bring devastating damage onshore.BHP…