He bought Basell, a Dutch joint-venture between German chemicals-maker BASF AG and Royal Dutch Shell PLC, for 4.4 billion, or $6.06 billion, in 2005, the largest leveraged-buyout deal in the chemical industry at that time.
Posts from ‘December, 2008’
By Jonathan Browning and Daniela Silberstein Dec. 31 (Bloomberg – Royal Dutch Shell Plc (RDSA LN): Europes largest oil companys Nigerian unit shut down its Utorogun gas plant due to technical problems, cutting gas supplies to major power plants, ThisDay reported, citing the head of the Nigerian Gas Company. The stock rose 40 pence, or […]
SYDNEY, Dec 31 (Reuters) – A temporary shut down of Royal Dutch Shell Plc’s (RDSa.L) Australia Clyde refinery will extend into 2009 due to ongoing maintenance work, a company spokesman said on Wednesday.
Dec. 30 (Bloomberg) — Royal Dutch Shell Plc, Europes largest oil company, said a railway boiler wagon spilled a bitumen-like oil by-product after leaving the Heide refinery in the northern German town of Hemmingstedt.
Dec. 30 (Bloomberg) — Oil futures may rebound from their worst year to average $60 a barrel next year as OPEC makes record production cuts to counter the deepest economic slump since World War II.
Royal Dutch Shell Plc, based in The Hague, and StatoilHydro ASA, Norways biggest oil producer, are among companies that deferred or canceled at least 14 projects this year in Albertas oil sands. Oil collapsed more than $100 since July to a low of $32.40 a barrel, less than half the price needed to make oil- sands projects economically viable, according to estimates by the Canadian Association of Petroleum Producers.
Dec. 30 (Bloomberg) — BP Plc, one of four oil refiners in Australia, resumed full production at a plant in Western Australia, the largest in the country, after scheduled maintenance work that lasted two months.
Around the same time, Angola rejected plans by Royal Dutch Shell PLC to sell its half of a project to ONGC, instead ordering Shell to sell to Chinese interests.
KUALA LUMPUR: Shell Malaysia plans to open 40 more petrol stations next year despite the challenging economic environment.
Dec. 29 (Bloomberg) — Norway’s Golar LNG Ltd. may win a contract to buy liquefied natural gas from a gas venture in Australia, crowding out Royal Dutch Shell SA, The Australian said, citing Golar LNG’s Chief Executive Officer Gary Smith.
SHELL EP Ireland has said there is “no pause button” on the Corrib gas project, and no overall delay to the current schedule. The company was responding yesterday to an industry media report that the project may have been put on hold.
Investors are now fleeing Gazprom stock…
Separately, a High Court action taken by four residents seeking declarations that Shell has no interest in lands acquired under compulsory acquisition orders in 2002 is continuing.
The in situ method being used in Shell Oils experimental tract involves drilling a well through the oil shale layer (about 2,000 feet) and lowering heated rods that will eventually heat the shale to 650 degrees Farenheit to release the oil.
In October the Baghdad government kicked off a round of bidding to allow international oil companies to exploit eight of the countrys largest oil and gasfields. BP, Royal Dutch Shell, Exxon Mobil and Gazprom are among the 35 companies that have put concerns about security to one side and thrown their hats in the ring.
The Russian national anthem blared over the loudspeakers as dozens of oilmen and officials braved the freezing cold to watch the tanker come in, celebrating the launch of year-round oil production from Sakhalin-2, the largest oil and gas project in the world.
The eyes of the world are not focused too closely on Shell and the other western oil multinationals at the moment – but they should be. Whilst the dysfunctionality, incompetence, voracity and self-interest of the financial sector, and the utter failure of finance associated regularity systems, is top of the mind the oil sector is […]
The growing financial crisis and plunging energy prices have forced companies to scale back spending and delay projects, with expensive ventures in the oilsands hardest hit.
The shock waves have however been such that Clive Mather, Chairman of the trustees of the Shell Contributory Pension Fund, has felt it necessary to send a message of reassurance to Shell UK pensioners. Dutch Shell pensioners will no doubt find it informative to contrast their uncertain situation with that of their UK counterparts.
Dec. 26 (Bloomberg) — Royal Dutch Shell Plc, Europes largest oil company, agreed to buy the assets of Enspire Energy LLC, an energy marketer based in Virginia.
Crude hasnt bottomed out as yet because we are getting so much bad economic news, said Tony Regan, a Singapore-based independent energy consultant, who formerly worked for Royal Dutch Shell Plc and Nexant Inc.
Royal Dutch Shell and Anglo-American recently shelved a $5 billion project to convert coal to diesel in the Latrobe Valley until further research was carried out.
HOUSTON (AP) — Crude prices tumbled Wednesday following a string of economic reports that painted an ugly picture of the nation’s economy, suggesting that demand for energy will continue to erode. Light, sweet crude for February delivery fell $3.63 to settle at $35.35 in a shortened day of trading. Prices fell as low as $35.13 just before the market closed for the holiday.
ANCHORAGE – Gov. Sarah Palin expressed her disappointment Dec. 18 in Shell Oil Company’s decision to cancel drilling activities in the Outer Continental Shelf of Alaska’s Beaufort Sea for 2009.
Uralsib, a Moscow investment bank, suggests Gopec’s formation will leave control of gas development, especially LNG, in the hands of members’ national energy companies. The likes of ExxonMobil, BP and Shell may be relegated to minority stakes.
Fines so far have totalled £22.6m the second highest amount yet. It would be a record were it not for the distorting effect on the 2004 £24.8m record of the £17m fine against Shell.
The falling accident took place at approximately 11 a.m. Thursday at a Shell Oil refinery at the 5700 block of State Highway 225.
Alaska Gov. Sarah Palin said she was disappointed in Shell’s decision because of its impact on the job market.
Anglo-Dutch oil major Royal Dutch Shell PLC is leading the charge, but U. S. rivals ExxonMobil and Chevron and Australia’s Woodside are also eyeing floating LNG, or FLNG.
Shell Oil Products US has awarded WorleyParsons an extension of the Shell Martinez Master Services Agreement (Contract) until December 31, 2010.
Nexus Energy expects the drilling rig for the Shell-operated Libra-1 well off Western Australia to be re-crewed later this week after operations were suspended due to Tropical Cyclone Billy.
In November, the Department of the Interior opened the western U.S. to commercial oil shale development after the expiration of a congressional ban that had so far only allowed demonstration projects such as the one operated by Royal Dutch Shell.
Two companies are dwarfing “big oil” in profit margins and reserves. Theyre about to hand investors a double in the short run
NETHERLANDS The Dutch pension fund of Anglo-Dutch oil giant Shell has seen its funding ratio plummet 160% to 85% in less than a year.
Samco, the asset management company of the Shell pension funds, said last week it had a total of $45m (32.2m) through indirect investments on behalf of the Dutch Shell Pension Fund…
Royal Dutch Shell has signed a multi-billion dollar natural gas deal with the Iraqi government, which will see it capture flared gas released from oil extraction…
Alongside the likes of Shell and BP, who have major networks of petrol retail outlets in Zimbabwe, Breco supplies petroleum products, purchased from the State Oil Company by law, to a mere five retail outlets
The cash component of the offer will be funded via a combination of Arrow’s existing cash reserves and proceeds from the firm’s recent 30 percent sale of its Australian upstream interests to Royal Dutch Shell (RDSa.L).
SHELL’S UK chairman has pledged the oil major’s continuing commitment to the North Sea despite his belief that more than half the area’s natural reserves have been produced. James Smith told The Scotsman that the fact that there was still a “low risk” in operating in the North Sea compared with some regions of the world also remained a big plus for the major explorers.
Dec. 22 (Bloomberg) — Arrow Energy Ltd., Royal Dutch Shell Plcs partner in coal-seam gas in northeast Australia, offered to buy Pure Energy Resources Ltd. for A$673 million ($460 million) in cash and shares, an 81 percent premium to its stock price.