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Posts from ‘November, 2009’

Tullow Oil sells a third of its licence off French Guiana to Shell

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Tullow to sell stakes in South American and Ugandan prospects

Tullow Oil has sold a third of its licence off French Guiana to Shell, and also plans to dispose of half its interest in the Lake Albert Rift Basin in Uganda.

Tullow said it had identified a number of leads in the Guiana licence, and said the participation of Shell was an endorsement of the prospect. Shell has the option to acquire another 12% and Tullow also hopes to farm out further equity to another party before the end of the year. Analysts have put a value of £140m on the block.

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The future of oil

The race for the world’s remaining oil reserves could get very nasty.

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Shell, Couche-Tard say Chicago’s their kind of town

The Laval convenience-store chain announced yesterday that one of its wholly owned subsidiaries is expected to reach an agreement by the end of this year to create a joint venture with Shell Oil Products U.S. to operate about 100 stores in the Chicago metropolitan area.

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Shell UK Chairman James Smith: We need a worldwide carbon trade

The Business Interview: Shell may seem an unlikely climate campaigner, but their UK chairman is crossing his fingers for an international deal on CO2 emissions at Copenhagen

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Shell Stanlow Refinery in terminal decline with large job losses?

Ed O’Keeffe Photography

By John Donovan

On 30 October 2009, we published a leaked email from Frank Willsdon, the General Manager of the Stanlow refinery (above), confirming that Shell is “in negotiations with Essar for the potential sale of Stanlow, Heide and Harburg refineries.“  Willson also stated: “For the time being Shell will not be holding discussions with any third party other than Essar…”

Essar Oil operates a refinery in the west coast of India and over 1,000 oil retail stations across India.

There was no mention in the leaked email that the Stanlow refinery might be converted by Essar into a terminal for supplying already refined products from India.

This possibility only became apparent from an Analysts Presentation dated 5 November 2009 (marked “strictly confidential”.  To the consternation of Stanlow refinery employees, a graphic displayed on page 35, under the headline “International Distribution Strategy…” indicates that the Essar facility in the UK will be a terminal, not a refinery.

As a consequence, there are major fears among the work force that the Stanlow refinery would be used as a tank farm and refining would stop, with large job losses.

Related Article

Shell Stanlow workers offered for sale like slaves in public auction

Jiffy Lube Scam Caught on Tape!

Jiffy Lube is a Shell Oil subsidiary with over 2000 locations throughout the USA. Jiffy Lube was caught by an NBC news investigation team charging people for work and not doing it. Another Shell scandal exposed by insiders which has it all; fraud, theft, lies, deceit, evasion etc. What happened to the Shell business principles? View the YouTube video and be amazed.

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Shell Pennzoil brand attacked in US court action

Predatory practices of Royal Dutch Shell: The Wexco Case

USA consumer fraud involving Pennzoil and Shell Oil Products

Iraqi Cabinet approves Exxon Mobil-Shell oil deal

The Exxon Mobil – Royal Dutch Shell group will develop the 8.6 billion West Qurna 1 field and received $1.90 per barrel produced. It plans to boost production from 280,000 barrels per day to 2.325 million barrels within seven years.

Click to continue reading “Iraqi Cabinet approves Exxon Mobil-Shell oil deal”

Shell says 2010 global investments down to $28 bln

Reuters

Tue Nov 10, 2009 11:18pm EST

SINGAPORE, Nov 11 (Reuters) – Royal Dutch Shell (RDSa.L) CEO Peter Voser said on Wednesday, investments in global projects in 2010 will fall to $28 billion from $30-$32 billion this year.

This was due to lower prices in the market, he told Reuters on the sidelines of a signing ceremony for the joint venture agreement between Qatar Petroleum International (QPI) and Shell Eastern Petroleum Pte Ltd.

“The investments will be $28 billion in 2010. Prices in the market have come down”, Voser said.

He added that demand for oil is slowly improving.

“The slow demand movement is coming back (up) in 2010. It will take some time for demand to come back up,” he said.

(Reporting by Felicia Loo and Judy Hua, Writing by Ramthan Hussain)

© Thomson Reuters 2009 All rights reserved

REUTERS ARTICLE

Human right groups ask Shell to leave Nigeria

Two human right groups staged a peaceful protest rally yesterday in remembrance of Ken Saro-Wiwa and eight other Ogoni people who were killed on November 10, 1995. The members of the Ogoni Solidarity Forum and the United Action for Democracy protested in front of the Shell headquarters in Marina, Lagos.

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Shell’s Nigerian Oil Output Yet to Recover After Rebel Amnesty

Nov. 10 (Bloomberg) — Royal Dutch Shell Plc, operator of Nigeria’s largest oil venture, has yet to see a rebound in output after a three-month truce that’s quelled violence in the country’s crude producing region, production reports show.

Click to continue reading “Shell’s Nigerian Oil Output Yet to Recover After Rebel Amnesty”