Royal Dutch Shell Plc  .com Rotating Header Image

January 25th, 2008:

The Oil Drum: Shell Energy Futures

Posted by Jerome a Paris on January 25, 2008 – 10:23am

Below the fold is the full text of an email sent by Jeroen van der Veer, the CEO of Shell, to all Shell employees, and explicitly meant for wider distribution. (Update: an almost identical version is now available on Shell’s website)

It is a clear acknowledgement of the reality of peak oil, climate change and of the need for comprehensive policy changes, and is worth reading in full.

From: Jeroen van der Veer, Chief Executive
To: All Shell employees
Date: 22 January 2008 read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

U.S.News & World Report: Beyond the Barrel: Shell Admits Cheap Oil Is Running Out

U.S. News & World Report image

Shell Admits Cheap Oil Is Running Out

January 25, 2008 03:48 PM ET
By Marianne Lavelle

I’m getting a ton of E-mail, from the congressional peak oil caucus and others, about Shell Chief Executive Jeroen van der Veer’s acknowledgement that the world is running out of oil—at least, cheap oil.

Here is what van der Veer writes about the two new future energy scenarios that have been developed by the quintessential business-scenario writers at Shell:

“We are experiencing a step-change in the growth rate of energy demand due to rising population and economic development. After 2015, easily accessible supplies of oil and gas probably will no longer keep up with demand.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil & Gas Journal: New consortium formed to manage Kashagan field

Eric Watkins
Senior Correspondent

LOS ANGELES, Jan. 25 — A new managerial consortium consisting of Eni SPA, Royal Dutch Shell PLC, Total SA, and ExxonMobil Corp. has been formed to perform operational management of Kazakhstan’s Kashagan oil field, said Eni Chief Executive Officer Paolo Scaroni. He said Eni will continue to manage the test phase.

In a conference call with financial analysts, Scaroni explained the details of the deal Eni reached several days ago with the Kazakh government (OGJ Online, Jan. 18, 2008). read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Reuters: PREVIEW-Exxon, Shell seen posting record 2007 profits

Fri Jan 25, 2008 2:04pm EST

Due at 1300 GMT, Feb. 1 

* Average Q4 EPS forecast of $1.95 a share

* Royal Dutch Shell Plc Q4 earnings

* Due at 0700 GMT, Jan. 31

* Average forecast $5.52 billion for Current Cost of Supply net income

By Tom Bergin and Michael Erman

LONDON/NEW YORK, Jan 25 (Reuters) – Exxon Mobil Corp (XOM.N: Quote, Profile, Research) and Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) are forecast to, yet again, break corporate earnings records next week when they report their full-year results, as high oil prices continue to outweigh rising costs and taxes. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

GlobalServicesMedia.com: The New Year That Took Jobs Away

Royal Dutch Shell announced that the company is going to outsource more than 3,000 IT jobs to reduce its operational costs, and hoped to save nearly $850 million per annum

Friday, January 25, 2008 
By Imrana Khan 

It was the first week of this New Year and as many of us strutted to our offices with a hopeful glint in our eyes to make this year a great success, there were a few thousands for whom the year didn’t augur well. Royal Dutch Shell, the world’s second largest oil company headquartered in the Netherlands and the U.K., announced that the company is going to outsource more than 3,000 IT jobs to reduce its operational costs, and hoped to save nearly $850 million per annum. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Marketplace.PublicRadio.org: Oil demand could soon outstrip supply

Friday, January 25, 2008

At the World Economic Forum in Davos, Shell’s CEO announced the world demand for oil would outstrip supply within seven years. European correspondent Stephen Beard outlines two possible resulting scenarios with Scott Jagow.

TEXT OF INTERVIEW

Scott Jagow: In Davos, Switzerland, they’re wrapping up the World Economic forum. Today, the head of Royal Dutch Shell met with Nigeria’s president to talk about security and oil. Shell’s CEO is Jeroen Van der Veer. He told his employees something this week that might surprise you: World demand for oil and gas will outstrip supply within seven years. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: Shell Seeks Gasoline in Singapore as Sydney Stations Run Short

By Sophie Tan and Christian Schmollinger

Jan. 25 (Bloomberg) — Royal Dutch Shell Plc sought to buy cargoes of premium gasoline in Singapore after a refinery fault in Australia led to fuel shortages in Sydney.

Shell bid to buy 97-RON gasoline at $104.35 a barrel for early February loading from Singapore, $1.95 more than the next highest offer by Vitol Group, said three traders who witnessed the bids. No transactions were done because there were no offers through the trading system run by oil-pricing service Platts. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

scienceblogs.com: Shell says 7 years before oil demand outstrips supply

(James Hrynyshyn above is a freelance science journalist based in western North Carolina, where he tries to put degrees in marine biology and journalism to good use.)

Category: climate
Posted on: January 25, 2008 10:27 AM, by James Hrynyshyn

The CEO of Royal Dutch Shell says “after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand.” This in an email from Jeroen van der Veer to his staff. Hmmm.

That means two things: even more demand for the expensive stuff, like Alberta’s tar sands, and really expensive gasoline. Unless, that is, van der Veer’s more optimistic scenario comes to pass:

The other route to the future is less painful, even if the start is more disorderly. This Blueprints scenario sees numerous coalitions emerging to take on the challenges of economic development, energy security and environmental pollution through cross-border cooperation.Much innovation occurs at the local level, as major cities develop links with industry to reduce local emissions. National governments introduce efficiency standards, taxes and other policy instruments to improve the environmental performance of buildings, vehicles and transport fuels. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

TheObserver.ca (Canada): Shell would hire locally; but refinery is far from a done deal

By JACK POIRIER

Shell would look to the local labour pool first to fill the thousands of jobs needed to build and operate a new Shell refinery in St. Clair Township.

“Our first effort would be to hire as many local people as possible,” said Amrik Ahluwalia, general manager of Shell’s St. Clair refinery project.

The multibillion-dollar oil refinery proposed for construction near Courtright would employ 450 to 850 full-time workers. In addition, between 2,000 to 4,000 tradesmen would be required for each of the four- to five-year construction phase, not 7,500 to 9,000 construction workers as previously reported. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Dow Jones Newswires: Shell: Easy Oil No Longer Matching Demand After ’15 – Web Site

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA) “estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand,” the company’s chief executive said in a text obtained by a Web site.

In a document obtained by Royaldutchshellplc.com, a Web site critical of the company, Jeroen van der Veer also predicted that under the company’s preferred scenario, 90% of the carbon dioxide emitted by coal- and gas-fired power plants in developed countries would be captured by 2050. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

climateprogress.org: Shell: Conventional oil peaks within 7 years

The oil company with the best strategic planning says the day of reckoning is nigh:

World demand for oil and gas will outstrip supply within seven years, according to Royal Dutch Shell.

The oil multinational is predicting that conventional supplies will not keep pace with soaring population growth and the rapid pace of economic development.

Jeroen van der Veer, Shell’s chief executive, said in an e-mail to the company’s staff this week that output of conventional oil and gas was close to peaking. He wrote: “Shell estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

CNNMoney.com: Petrobras, Shell Bid To Buy ExxonMobil’s Brazil Assets-Report

January 25, 2008: 07:55 AM EST

RIO DE JANEIRO -(Dow Jones)- Brazil’s state-run oil firm Petroleo Brasileiro SA (PBR), or Petrobras, Royal Dutch Shell PLC (RDSA) and at least three other companies have made proposals to buy ExxonMobil Corp.’s (XOM) Brazilian downstream assets, the Valor newspaper reported Friday.

ExxonMobil, under the Esso brand, holds 7.2% of the Brazilian fuel distribution market, the newspaper said, which is worth about $700 million.

Media reports in Brazil and Argentina for months have said that Petrobras is in talks to buy ExxonMobil’s South American downstream assets, but the company so far hasn’t confirmed the talks. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Hemscott: Shell ‘overvalued’

US broker JP Morgan cuts its rating on Shell, arguing that the oil giant’s results could disappoint.

25/01/08 08:13

JP Morgan downgraded Royal Dutch Shell to “underweight” from “neutral”, telling clients: “We think near-term newsflow could undermine confidence in Shell’s longer term prospects and cause the shares to underperform their peers.”

Namely, JP Morgan’s team expects Shell’s production volumes will fall 3% in 2008, against consensus expectations for flat a flat outturn. A combination of natural declines, a lack of large start-ups, and pricing effects from the group’s production-sharing contracts will offset improved figures from the likes of the Ormen Lange gas field in Norway, it said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

THE WALL STREET JOURNAL: Shell OKs Extra $27M Legal Fee In Reserves Case-Website

DOW JONES NEWSWIRES
January 24, 2008 3:46 a.m.

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) has agreed to pay a lead counsel, Bernstein Liebhard & Lifshitz LLP, in a U.S. case related to its 2004 reserves restatements a fee of $27 million for its role in achieving compensation for the non-U.S. purchasers of its stock.

The agreement decision, part of a U.S. court mediation and dated Jan. 14, was obtained by Royaldutchshellplc.com, a Web site critical of Shell.

In April 2007, Shell agreed to pay $352.6 million to settle a similar case involving European investors as well as $47 million in fees to U.S. trial lawyers in an action filed in the Amsterdam Court of Appeals in the Netherlands. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Reuters: UPDATE 1-Shell Australia plans 8-week refinery work in Feb

Fri Jan 25, 2008 1:15am EST
(Adds details, background)

SYDNEY, Jan 25 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) will partially shut down its 125,000 barrels per day (bpd) Geelong refinery in Australia for scheduled maintenance work from Feb. 1 for about eight weeks, two industry sources said on Friday.

“There are no production problems. It’s just some regular maintenance and they are going to have a partial shutdown,” said an industry source who declined to be identified. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

National Post (Canada): BP’S $1B GAS COMEBACK

B.C. project will set new environment standards

Claudia Cattaneo, Financial Post 
Published: Friday, January 25, 2008

CALGARY – A month after its dramatic re-entry into the oilsands, BPPLC is charting a big comeback into Canadian natural gas with a $1-billion project in Northeastern British Columbia that uses new environmentally friendly methods.

In addition, Randy McLeod, president and chief executive of BPCanadaEnergy Co., said the British oil super-major has started evaluating oilsands leases it owns in Alberta’s Kirby area that could support a 60,000 to 70,000 barrels a day in-situ project. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.