BG Group, Gas-Shipping Pioneer, Trades Final Time Before Merger

By Rakteem Katakey (Bloomberg) -- BG Group Plc, pioneer of natural-gas shipping, will trade on stock exchanges for the last time on Friday, 19 years after it was created. The shares will delist Monday as BG becomes a fully owned unit of Royal Dutch Shell Plc following the industry’s biggest acquisition in more than a decade. The stock has increased ninefold since 1997, … [Read more...]

BG Group and Keppel Win LNG Bunkering License in Singapore

BG Group and Keppel Offshore & Marine have secured a license to supply LNG bunkers to vessels in the Port of Singapore after submitting a joint bid to the Maritime and Port Authority of Singapore. With the granting of the license, BG Group and Keppel will form a 50-50 joint venture to deliver an end-to-end bunkering solution using LNG sourced from BG Group’s LNG … [Read more...]

Shell Seals BG Mega-Merger with Shareholder Approval

By Rakteem Katakey (Bloomberg) -- Royal Dutch Shell Plc won shareholder approval to buy BG Group Plc, sealing its biggest acquisition amid the worst oil-industry slump since the global financial crisis. More than 83 percent of Shell shareholders voted in favor of the transaction, the company said in a statement. Most votes were cast by proxy while other investors met in … [Read more...]

Shell Profit Plunges at Least 42% as Oil’s Slump Deepens

By Rakteem Katakey (Bloomberg) -- Royal Dutch Shell Plc, which is buying BG Group Plc in the industry’s largest deal in a decade, expects fourth-quarter profit to drop at least 42 percent after the rout in crude prices deepened. Profit adjusted for one-time items and inventory changes probably shrank to $1.6 billion to $1.9 billion, Shell said Wednesday in a preliminary … [Read more...]

Shell Cuts 2016 Spending by $2 Billion as It Prepares for BG

By Rakteem Katakey (Bloomberg) -- Royal Dutch Shell Plc, Europe’s largest oil company, further reduced spending plans for this year and 2016 as it prepares to take over BG Group Plc amid slumping prices for crude. The combined company plans to spend $33 billion next year, lower than Shell’s previous guidance of $35 billion, the company said Tuesday in a statement. Shell … [Read more...]