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Posts from ‘February, 2009’

Iraq takes lead by easing terms for oil projects

In Iraq, companies such as BP, Royal Dutch Shell, Chevron and Total will now receive stakes of 75 per cent rather than 49 per cent if their bid wins. Iraq has also lowered the production targets it initially demanded that companies achieved before they were paid for their work.

The scandal of the grotesque rewards that accrue to failed executives

Enron, Lehman Brothers, Royal Bank of Scotland…Royal Dutch Shell – what have these corporations got in common? Quite a lot actually but what I was thinking of in particular is that they all have issued glossy and self-promoting documents extolling their “Corporate Social Responsibility” (CSR) – and all of them have been brought to their knees by the grotesquely dysfunctional actions of their most senior executives.

I have written before about the illusionary myth that is CSR and I suppose that the one good thing that might come out of the global financial crisis is that none us will ever again trust the disingenuous garbage that corporations choose to throw at us from time to time. The idea that, say, a tobacco giant like BAT can be socially responsible is absurd but they still peddle this nonsense even though they surely can’t expect us to believe it. Do they really believe it themselves? – I doubt it. read more

Shell Sees Global Oil Demand Doubling By 2050

NPR Home Page

Morning Edition, February 27, 2009 · As oil companies plan for the future, they are expecting prices and demand to be higher. Oil company executives were on Capitol Hill this week to discuss offshore drilling, which they say needs to be part of America’s long-term energy policy. Shell Oil Company President Marvin Odum tells Steve Inskeep that he expects demand throughout the world to double by 2050.

Video clip available at… npr

Water district opposes Shell Oil request

Steamboat Springs — The Upper Yampa Water Conservancy District filed a statement of opposition on Friday to Shell Frontier Oil and Gas’ Dec. 30 request for substantial water rights on the Yampa River.

Shell CEO Jeroen van der Veer to receive pension of £828,923 a year

The only woman to enter the top 20 pensions list was Linda Cook, Shell's gas and power boss. Ranked number 83 on the Forbes list of the world's most powerful women recently, she is under 50 but already looking forward to a pension of £513,057.

Athabasca Oil Sands Expansion Costs Jump To $13.7 Billion

OTTAWA -(Dow Jones)- Project costs for a 100,000-barrel-a-day expansion at Royal Dutch Shell PLC's (RDSA) Athabasca Oil Sands Project have climbed to $13.7 billion, partner Chevron Corp.(CVX) said in a filing with the SEC.

Exxon’s $207 Billion Shares Cache More Valuable Than Shell, BP

Feb. 27 (Bloomberg) -- Exxon Mobil Corp., the world’s biggest company, has amassed a $207 billion stockpile of its own shares that exceeds the market value of all but one of its publicly traded rivals.

Total Kicks Up A Sands Storm

Oil giants BP, Royal Dutch Shell and ExxonMobil plan to invest upward of $30 billion apiece this year to gather assets, either through the drill bit or through buying outfits that run out of cash and refinance options.

WWF says whales leaving Sakhalin waters due to oil, gas projects

Oil and natural gas development off the coast of Sakhalin Island in Russia's Far East could have forced endangered whales to leave their habitat in the area, a local WWF spokesperson said on Thursday.

DALY: Russia eyes Asia as gas customer

In yet another example of Kremlin energy politics that so unsettle Western investors, in late 2006 Gazprom wrested control of the huge oil and gas field from Shell after it was accused of breaking environmental laws. Gazprom then became the majority owner.

BG Raises Leading Bid for Pure Energy

BG likely hopes the move is a knockout punch in its battle with Royal Dutch Shell's Australian joint venture partner, Arrow Energy Ltd., for the coal seam gas producer.

Shell’s oil sands expansion costs rise, partner says

The costs of a 100,000 barrel per day expansion of Royal Dutch Shell Plc's Athabasca Oil Sands Project have climbed to $13.7 billion, partner Chevron Corp said in a filing, well ahead of earlier estimates.

BG Group Raises Cash Takeover Offer for Pure Energy

BG’s increased offer of A$8.25 a share is final in the absence of a higher bid, the Reading, U.K.-based company said today in a statement to the Australian stock exchange. The move further boosts BG’s offer above a rival cash and stock bid by Arrow Energy Ltd., Royal Dutch Shell Plc’s Australian partner in coal-seam gas.

Obama Budget Hits Oil, Gas Companies With New Fees, Taxes

"It's a concerning area, of course, because as you put more royalty and tax burdens on the industry, particularly a cyclical industry, you just have to be cognizant of the potential impact it has on investments," said Marvin Odum, the president of Royal Dutch Shell's U.S. operations, after meetings with various lawmakers about energy policy.

Shell Blocks Employee Internet Gambling Sites

Richard Wiseman, Chief Ethics & Compliance Officer of Royal Dutch Shell has confirmed that IT staff have commenced blocking undesirable websites accessed by employees whilst at work.

Australian Coal-Gas Sparks a Deal Boom

BG Group PLC, the British oil and gas company, and Royal Dutch Shell PLC's Australian partner Arrow Energy Ltd. are competing for Pure Energy Resources Ltd., an Australian player in coalbed methane.

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