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Posts from ‘September, 2008’

Economies of shale

That excitement is likely to last as long as oil prices remain above $30 a barrel, a bottom-line benchmark once cited by leaseholder Royal Dutch Shell. With commercial production at least a decade away, the company has since backed away from that number even as a barrel of oil remains near $100.

OPEC: Good is Bad – Bad is Good

The first famous cartel in the oil industry – the “Seven Sisters” – came in the 1920s and lasted until the early 1970s. This famous cartel dissolved only to be replaced by another.

Oil’s Plunge Is Biggest In Dollars Since 1991

Crude-oil futures plummeted more than $10 a barrel Monday after the House voted down a plan to rescue financial markets, magnifying doubts about demand growth.

Ministers meet locals on Corrib project

TWO GOVERNMENT Ministers have described as “very constructive” a series of discussions on the controversial Corrib gas project held with politicians and community groups in Ballina, Co Mayo.

Shell’s Pernis FCC seen shut for 10 days-traders

Shell declined to comment on the duration of the shutdown.

Shell says U.S. Gulf refineries ramping up after Ike

Shell said Saturday its U.S. Gulf refining throughput was about 1 million barrels per day out of a total of 1.2 million bpd.

Iran seeks foreign money for $8bn gas pipeline

Total and Royal Dutch Shell, which had been in talks with Iran about LNG projects, earlier this year said they won’t enter any new energy deals because of the country’s heightened political risk.

Timor fights to tap undersea gas field

…the venture partners, which also include Royal Dutch/Shell and Osaka Gas, are “prepared to consider the results of the Timor Leste government’s independent study,” Woodside said in a statement, the country’s official name.

Nigerian Oil Union opposes Chevron’s sale

Nigeria, Africa’s most populous country of 140 million people, has the continent’s biggest hydrocarbon reserves. A spate of militant attacks earlier this month has interrupted production at some oil fields operated by Royal Dutch Shell Plc and other foreign companies.

Bush Poised to Sign Temporary-Budget Bill

Democratic leaders had hoped to extend the drilling bans, but such a move would have risked drawing opposition from Republicans and the White House. President Bush has announced that he would allow the bans to expire at the end of September. Speaking to reporters on Friday, Marvin Odum, the head of Royal Dutch Shell PLC’s U.S. operations, acknowledged that “it is a possibility that [the ban] comes right back on.”

Investors let down by online reports

Smiths evaluates online reports on 21 criteria, some of which reflect Investor Relations Society best practice. Top of the league table is Royal Dutch Shell.

Shell leaves Ogoni land, but trouble looms in oil-rich Niger Delta region

BUSINESS DAILY A Shell petrol station in Kenya. Nigeria’s government decision to replace Shell’s operations in Ogoni was first celebrated, but not any more. Written by Zachary Ochieng’    September 29, 2008: The peace process in Ogoni land —a major test for efforts to bring stability to the oil-rich Niger Delta — is likely to fail […]

Russia, China and India consider stake in Spanish oil

The national oil companies of Russia, China and India are all running the slide rule over a 5 billion euro stake that has been put up for auction in Repsol, the Spanish oil giant. European majors also known to be taking a look include Royal Dutch Shell, Total of France and Italy’s Eni.

Carbon clean-up in Stinky Town

Some suggest that oil sands require double the energy usually needed for production. Shell disputes that, putting the figure at just 15 per cent more. Whatever the truth, the oil giants need to capture their emissions via CCS to offset the higher energy use required for oil-sands exploitation.

Radical new vision of a cooler life on earth

Natalie Davies, 26, joined Shell in March last year and now works as a project services engineer based in Assen, northeast Holland. She is part of an extensive project to renovate and update the facilities and equipment used in processing gas from the huge Groningen field to make them more efficient and environmentally friendly.

Scotland the green

Flexitricity works to match up small electricity suppliers and the national grid; its parent company, Martin Energy, won a £40,000 award from Shell Springboard, which promotes low-carbon business ideas.

Stop drilling, B. C. mayors urge Shell

VANCOUVER – British Columbians ratcheted up their opposition to a proposed Shell Canada Ltd. coal-bed methane project yesterday as a group of mayors unanimously approved a resolution demanding Premier Gordon Campbell halt the company’s drilling.

American Red Cross Receives $1 million from Shell Oil Company and Motiva Enterprises LLC

Shell and Motiva announced a $1 million donation to the Red Cross to support the organization’s large and lengthy hurricane relief efforts in Texas and Louisiana.

Palin, polar bears, Shell Oil and The Nature Conservancy

Republican vice presidential nominee Alaska Gov. Sarah Palin staunchly opposed listing the polar bear as an endangered species, arguing that the federal designation could hurt drilling such as Shell’s plans to extract oil from the Chukchi Sea, where polar bears have lived for millennia.

Political uncertainties compound losses

Oil and gas companies are notoriously unpredictable investments.

The Times: Need to know: Saturday September 27, 2008

Shell Oil The president of Shell Oil, Marvin Odum, said that he expected the majority of the company’s oil production in the Gulf of Mexico that was shut as a precaution against hurricanes Gustav and Ike to be back on line within two weeks.

Regulators stuck in a fine mess

The biggest fine ever imposed by the Financial Services Authority was £17 million. On Shell, sitting on $270 billion-worth (£146.8 billion) of oil, according to the last accounts.

South Africa: Community takes on big polluters

The South Durban Community Environmental Alliance (SDCEA) chairperson, Desmond D’sa, told IRIN they were in the process of preparing a class action lawsuit against the refinery owners – Engen, and Shell and British Petroleum (BP) – in a bid to make the companies accountable.

Nigeria threatens to halt energy firms’ LNG schemes

Nigeria’s largest LNG export plant, on Bonny Island in the southern Niger Delta, is controlled by a group of Western companies — Royal Dutch Shell, Total and Eni unit Agip. NNPC owns 49 percent.

Impact felt across south-east

Juan Kemp, Shell Gulf coast operations manager, said demand had been three times higher than normal in this area. Shell sought to limit disruptions by leasing 35 generators it could deploy within 24 hours along the Gulf coast, but Shell still has up to 50 sites without power.

Shell V-power ‘a waste of money’ says Which?

First testing a Ford Focus 1.6l with Shell V-power fuel, they found that although the car had a marginal power increase using super fuel, it ended up costing £115 more than unleaded filling the car for 12,000 miles.

Shell Oil Co. pays $300,000 fine for 2006 spill

The settlement calls for Shell to pay $250,000 in civil penalties, $50,000 to the city of Martinez for improvements to the city’s marina or waterfront, and $10,000 to pay for the response by state oil spill cleanup crews.

Abu Dhabi will remain a Leader in World Energy Industry says Shell

“We’ll need all the help technology can give, as the world faces such great energy and environmental challenges. But, above all, the world will need leadership. And here Abu Dhabi can and will play a very strong role,” said Malcolm Brinded, Executive Director Exploration and Production, Royal Dutch Shell.

Shell sees bulk of US offshore fields back in 2 wks

NEW YORK, Sept 25 (Reuters) – Shell Oil (RDSa.L: Quote, Profile, Research, Stock Buzz), the largest oil producer in the storm-battered Gulf of Mexico, said on Thursday it expects the bulk of its offshore fields back on line within two weeks.

Shell and Tree Canada together plant one million trees

CALGARY, Sept. 25 /CNW/ – Shell Canada and Tree Canada today announced the planting of their one millionth tree, part of a planting program that will sequester more than 650,000 tonnes of carbon dioxide.

Shell opens new office in Baghdad in deal with Iraqi Government

Times Online September 25, 2008 Tim Albone, Baghdad Royal Dutch Shell opened an office in Baghdad this week, the first major international oil firm to do so since 1972 when the industry was nationalised. The news of the opening comes after Shell signed a deal, potentially worth billions of dollars, with the state-run Southern Oil […]

Shell, BP to Shut Refineries for Repair, Cut Europe Fuel Supply

Sept. 25 (Bloomberg) — Royal Dutch Shell Plc, BP Plc and Total SA are leading oil companies that will shut at least 6 percent of Europe’s refining for repairs next month, reducing inventories already diminished by U.S. demand after Hurricane Ike.

Repsol Gains on Report Total, Shell May Consider Making Bid

Sept. 25 (Bloomberg) — Repsol YPF SA rose in Madrid trading after Expansion said Total SA and Royal Dutch Shell Plc are studying the possibility of buying the Spanish oil company, citing unidentified people close to the conversations.

Speculator? Oil Firm? Theories on Crude Spike

Chevron Corp. declined to comment and referred questions to the American Petroleum Institute, where a spokeswoman said she had no information on the matter. Royal Dutch Shell PLC and BP PLC didn’t return phone calls. An Exxon Mobil Corp. spokesman declined to comment.

Total and Shell study buying Repsol stakes-paper

The Spanish government has indicated it would look favourably on Total taking over Repsol, Expansion cited sources close to discussions on the issue as saying.

Gazprom Chief Optimistic Despite Share Price Plunge

Gazprom’s consolidated debt stood at 1.2 trillion rubles ($48 billion) at the end of 2007, up 52 percent on a year earlier, after the company acquired control both of the major Sakhalin-2 offshore project and of Moscow utility Mosenergo.

Palin’s Big Oil infatuation

Palin’s Big Oil infatuation. She is as much a product of the oil industry as the current president and his vice president. By Robert F. Kennedy Jr.  September 24, 2008 I was water-skiing with my children in a light drizzle off Hyannis, Mass., last month when a sudden, fierce storm plunged us into a melee […]

Environment takes back seat to economy in U.S.: CAPP

Mr. Collyer spent 30 years at Shell Canada Ltd., most recently serving as president and country chair of Shell Canada, a division of Royal Dutch Shell PLC. He is replacing Pierre Alvarez, who led CAPP for nine years.

Nigerian oil output around 2 mln bpd – minister

Wed Sep 24, 2008 12:19pm EDT (Adds comment from Shell) By Felix Onuah ABUJA, Sept 24 (Reuters) – Nigerian Oil Minister Odein Ajumogobia said recent militant attacks on oil facilities had not significantly hit output and that the country was currently producing around 2 million barrels per day. Nigerian militant group the Movement for the […]

When Corporations Spy

The Sunday Times reported in 2001 that Hakluyt hired Manfred Schlickenrieder, a German foreign intelligence operative tasked by the firm to spy on Greenpeace at the behest of oil giants BP and Shell.