Foreign companies could own as much as 75 percent of the new ventures, the officials said. In its negotiations with dozens of international companies, including Exxon Mobil and Royal Dutch Shell, Iraq had until now offered stakes of no more than 49 percent in new joint ventures to develop existing and new oil fields.
Posts on ‘March 19th, 2009’
Until recently, Shell’s investment in wind power featured prominently in its corporate advertisements. FoE said the company’s move heralded a slightly more honest approach. “Shell is at least being a bit more honest about the fact they are a fossil fuel company. It has seen the limitations of the greenwash it was putting out a few years ago.”
“We’re picking up properties as they become available or look strategic,” said Tracy Boyd, a spokesman for Royal Dutch Shell PLC. Shell does not expect to need large quantities of water for at least 15 years, he said, and by then it may have developed less water-intensive ways to extract oil, perhaps using wind power.
Dozens of smaller oil companies, starved of cash and facing stiff financial constraints from low oil prices, have in recent months slashed project spending, though most big privately run oil firms, such as Royal Dutch Shell PLC, have maintained their spending plans for 2009.
Shell’s spending on renewables except biofuel appears to have fallen from $200m a year to zero over the past nine years Comments (8) Question time … the Royal Dutch Shell headquarters in The Hague. Robin Utrecht/EPA So at last we have an explanation. During my video interview with Jeroen van der Veer, the chief executive […]
But it was news that a corruption probe into Nigeria’s oil industry had been broadened to include Shell itself that spooked the market, sending its ‘A’ shares down 21p to 1619p.
Posted by christian on 18 March 2009. Canadian tar sands – According to Shell, more profitable than wind or solar power. But at what cost to the environment? We’ve got so used to big oil companies trying to use tiny investments in renewable energy as fig leafs for their core business of pumping oil, that […]