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Posts from ‘January, 2010’

Nigeria’s oil pipeline sabotaged – Royal Dutch Shell

Royal Dutch Shell has shut three oil flow stations in Nigeria’s Niger Delta region after a pipeline was sabotaged, a company spokeswoman has said.

More job cuts at ailing Royal Dutch Shell

The Sunday Times // <![CDATA[ // January 31, 2010 By Danny Fortson PETER VOSER, boss of Royal Dutch Shell, will warn of fresh job cuts this week as he reveals sagging profits at the oil giant. Since taking the top job six months ago Voser has cut 5,000 staff. He warned this weekend that the […]

Shell to sell oil licenses in Nigeria

By Tom Burgis in Lagos Published: January 30 2010 03:20 Royal Dutch Shell is to sell its stake in three Nigerian oil-producing licenses, underlining its new chief executive’s cool stance towards what was long a mainstay of the group’s operations. In recent weeks fresh rumours have circulated that Shell was seeking to dispense of Nigerian […]

Shell COE Peter Voser warns of more redundancies

Sunday Telegraph BP expected to exend gap with Shell in the battle of oil giants The British oil major, now the biggest in Europe, is currently winning the race against its Anglo-Dutch rival By Rowena Mason Published: 8:12PM GMT 30 Jan 2010 Royal Dutch Shell is likely to endure more humiliation at the hands of […]

Is Iraq’s oil strategy too ambitious?

Published: Jan. 29, 2010 at 4:46 PM BAGHDAD, Jan. 29 (UPI) — The chief executives of two of the world’s oil giants have been waxing lyrical about helping Iraq quadruple its oil production over the next decade, but questions linger about whether it can be done. Some energy industry experts believe that given the plethora […]

Ex-BAE middleman charged with bribery

First ever criminal case is brought during corruption investigations into British weapons manufacturer, which began more than five years ago after disclosures in the Guardian David Leigh and Rob Evans Friday 29 January 2010 19.47 GMT One of BAE’s former confidential agents, Count Alfons Mensdorff-Pouilly, was today charged by the Serious Fraud Office with bribery […]

Nigeria militants ‘end truce in Delta oil region’

BBC NEWS: Mend has carried out many attacks over several years Saturday, 30 January 2010 A militant group in Nigeria’s oil-rich Niger Delta says it is ending the ceasefire it declared last October. Jomo Gbomo, who said he was a spokesman for the group Mend, said it did not believe the government would restore control […]

BP May Widen Valuation Gap With Shell on Higher Profits, Output

Shell, whose production has dropped below 3 million barrels of oil equivalent a day, has cut 5,000 jobs. It’s also reorganized management by erasing 20 percent of senior posts.

Oil giants promise to rebuild industry in Iraq

Tony Hayward, the chief executive of BP, said that his company hoped to increase production in the Iraqi field it has agreed to modernise from one million to three million barrels a day over the next 10 years. His counterpart at Royal Dutch Shell, Peter Voser, made a similar commitment on the two fields Shell is involved with.

Shell Sells 3 Nigeria Oil Blocks To Local Companies

LONDON (Dow Jones)–The Nigerian joint venture company operated by Royal Dutch Shell PLC (RDSB.LN) agreed Friday to sell its 30% interest in three oil production licenses that have been shut down since 2008 to a consortium led by local companies for an undisclosed sum, the venture said in a statement.

Shell May Cut More Jobs says Voser

Shell May Cut More Jobs as Energy Demand Recovery Remains Muted January 29, 2010, 07:22 AM EST By Fred Pals and Francine Lacqua Jan. 29 (Bloomberg) — Royal Dutch Shell Plc, Europe’s second-largest oil company, may need to cut more jobs this year to control operating costs as a recovery in energy demand waits until […]

Shell’s North Sea history of safety violations, blackmail and blacklisting

By John Donovan Violation of this court order, Shell warned, could result in the families and survivors concerned being ‘subject to bodily imprisonment: Faced with such legal harassment, even case-hardened lawyers involved in the proceedings reeled in disbelief A book first published in 1996, “PAYING FOR THE PIPER”, provides more evidence of the dark side […]

DAVOS-Shale gas is U.S. energy “game changer” -BP CEO

REUTERS * Shale gas is “global and necessary” -Royal Dutch Shell * Iraq could produce 10 mln barrels oil per day by 2020 * BP CEO expects $60-80 oil price through 2010 By Gerard Wynn and Ben Hirschler DAVOS, Switzerland, Jan 28 (Reuters) – New technologies to extract gas from shale rock have altered the […]

Shell CEO Pledges to Continue Record Spending in 2010

BLOOMBERG By Fred Pals Jan. 28 (Bloomberg) — Royal Dutch Shell Plc, Europe’s second-largest oil company, plans to continue record spending this year in its search for oil and gas. “We need to keep investing throughout the cycle,” Chief Executive Officer Peter Voser said at the World Economic Forum’s annual meeting in Davos, Switzerland, today. […]

Hess in Talks With Chevron, Woodside, Shell on Gas

Jan. 28 (Bloomberg) — Hess Corp., the fifth-biggest U.S. oil company, is in talks with Chevron Corp., Woodside Petroleum Ltd. and Royal Dutch Shell Plc to convert gas from its fields in Western Australia to liquid for export.

Feds’ offer of new oil shale leases nets 3 takers

In a separate investigation, the Department of Justice is looking at whether former Interior Secretary Gale Norton used her position to steer three of the leases issued in 2007 to Royal Dutch Shell PLC, her employer after she left the federal government.

Shell’s Perdido oil field may start by Feb. -U.S.

REUTERS * Perdido can produce up to 100,000 bpd crude oil * MMS sees Shell’s Perdido project starting by February * No immediate comment from Shell By Robert Campbell HOUSTON, Jan 27 (Reuters) – Royal Dutch Shell Plc’s (RDSa.L) Perdido oil and gas project in the Gulf of Mexico will start up soon, perhaps as […]

Shell forced into oil sands U-turn

Created: 27 January 2010 Written by: Daniel O’Sullivan Royal Dutch Shell chief executive Peter Voser cannily chose the safe ground of an exclusive interview with the Financial Times to finally admit the all-too-obvious – the Canadian oil sands development Shell has touted as a major growth driver is instead a costly distraction, on which time […]

Shell, Chevron Certain To Renew Oil Leases in Nigeria-Official

January 27, 2010: 08:08 AM ET ABUJA, Nigeria -(Dow Jones)- Royal Dutch Shell PLC (RDSA) and Chevron Corp. ( CVX) will soon renew oil leases with the Nigerian government despite uncertainty caused by the absence of the country’s President, a senior government official said late Tuesday. “Shell and Chevron have some outstanding issues they’re trying […]

Arrow Energy Shares Rise After 50% Increase in Gas Reserves

Jan. 27 (Bloomberg) — Arrow Energy Ltd., Royal Dutch Shell Plc’s coal-seam gas partner in Australia, rose the most in three weeks in Sydney trading after it announced a 50 percent increase in gas reserves.

Case Study: Shell Hydrocarbon Reserves Scandal

Book Title: The Reform of Class and Representative Actions in European Legal Systems: Book by Christopher Hodges, MA (Oxon), PhD (Lond), FSALS: June 2008: Front Cover, Chapter 3 Court Rules for Multiple Claims – Extracts from Pages 75 & 76, plus Back Cover. ISBN 978-1-84113-902-9 (Hart Publishing Limited) The Netherlands Case Study: Shell Hydrocarbon Reserves […]

Essar Oil Says Shell Refinery Deal to Take More Time

BLOOMBERG By Rakteem Katakey and Francine Lacqua Jan. 27 (Bloomberg) — Essar Oil Ltd., operator of India’s second-largest non-state refiner, said a deal to buy three refineries from Royal Dutch Shell Plc will take more time. “It’s going to be a few more months before we have a clear decision on the transaction,” Prashant Ruia, […]

Shell becomes biggest investor in Qatar – executive

REUTERS Tue Jan 26, 2010 9:37am EST * Shell Qatar investments at $21 bln, surpasses Exxon * First output from Pearl GTL plant expected early 2011 * Shell to get free gas from Qatar for Pearl, so costs low By Simon Webb DOHA, Jan 26 (Reuters) – Royal Dutch Shell (RDSa.L) $21 billion investment in […]

Oil sands costs driving Shell elsewhere

Calgary — Globe and Mail By Nathan VanderKlippe: Company steering exploration dollars to other parts of the world, including the Gulf of Mexico and Kazakhstan More than a year after it delayed a decision on a major new oil sands expansion, Royal Dutch Shell PLC (RDS.A-N58.390.050.08%) is backing further away from Canada’s richest crude resource. […]

Shell pulls back from Canadian tar sands projects

Growth: Shell will rely on more conventional oil and gas reserves The chief executive of Royal Dutch Shell today announced the firm would scale back growth in Canadian tar sands amid a growing backlash from shareholders and environmentalists. Peter Voser said Shell plans to rely more on conventional oil and gas reserves for future growth. […]

Nigeria: Shell has had enough

Energy Report – 26 January 2010 Shell, the company most affected by the years of violence in the Niger delta and the other difficulties of working in Nigeria, has finally had enough In December, it invited offers for a swathe of its onshore fields and last month underlined its new stance with a statement from […]

Shell Motiva to shut Convent refinery for five to six weeks

By Rebecca Mowbray, The Times-Picayune January 26, 2010, 10:51AM (Bloomberg) — Motiva Enterprises LLC will shut a crude unit and reformer at its Convent, Louisiana, refinery on Jan. 28 for five to six weeks of planned maintenance, people familiar with the plant’s operations said. The crude unit has a capacity of 130,000 to 140,000 barrels […]

In the Middle of the Baghdad Hotel Attacks

On Monday, my main assignments for the day were positively mundane: first, to get a plumber to fix the burst pipe at the office, and then head over to the oil ministry, where Exxon Mobil and Royal Dutch Shell were signing a 20-year deal to develop a supergiant Iraqi oil field. The agreement had been heralded as a cornerstone for the future of an Iraq safe enough for investors to unload tens of billions of dollars, perhaps one that would see Iraq surpass Saudi Arabia in oil production.

Shell expects production from Pearl GTL in 2011

Tue Jan 26, 2010 8:52am GMT DOHA, Jan 26 (Reuters) – Royal Dutch Shell (RDSa.L) expects first production from its gas-to-liquids (GTL) plant in Qatar in 2011, a senior company executive said on Tuesday. The cost of the Pearl super-clean fuels plant in Qatar was pegged at $18 billion to $19 billion, the company’s regional […]

Shell & Big Oil’s Exploration Challenge

THE WALL STREET JOURNAL JANUARY 25, 2010, 9.32 A.M. ET By MATTHEW CURTIN These days, you have to corral an army of engineers in the desert to build an enormous factory to transform natural gas into a liquid to be used like oil. The capital cost of Royal Dutch Shell’s Pearl gas-to-liquids plant in Qatar […]

Exxon’s Sakhalin Troubles: A Redux of Shell’s Sakhalin II?

ExxonMobil is (XOM) at loggerheads with the Russian government over the Sakhalin I project. The issue is the one that eventually spelled Shell’s (RDS.A) doom in Sakhalin II: Development costs under the production sharing agreement (PSA):

Exxon, Shell Sign Final Deal For Iraq’s West Qurna 1 Oil Field

THE WALL STREET JOURNAL JANUARY 25, 2010 By Hassan Hafidh Of DOW JONES NEWSWIRES A consortium made up of Exxon Mobil Corp. (XOM) and Royal Dutch Shell PLC (RDSA) finalized a deal in Baghdad Monday to develop the West Qurna phase 1 oil field in southern Iraq, Iraqi oil officials said. It represents the first […]

Royal Dutch Shell is the world’s 25th-biggest economy, bigger than Norway

A version of this article appeared in print on January 25, 2010, on page A16 of the New York Times. New York Times Editorial Big Food As huge corporations merge and get even huger, we find ourselves yearning for some old-fashioned competition, and maybe a little diversity. Banks have gotten so big that they can […]

Shell to scale back on oil sands – CEO

LONDON, Jan 24 (Reuters) – Royal Dutch Shell (RDSa.L) is slowing its expansion into high-cost Canadian tar sands, Chief Executive Peter Voser said in Monday’s edition of the Financial Times. In an interview with the paper, Voser said Shell had scaled down plans to increase tar sands production to 700,000 barrels per day. “Over the […]

Peter Voser claims he had to be talked into becoming Royal Dutch Shell chief executive

After taking over last July, Voser put in place a new organisational structure and cut 5,000 jobs including 150 senior managers, all before the year was out. It is no surprise that, when asked to compare himself with his predecessor Jeroen van der Veer, he says: “I think I’m more direct, and I’m a faster decision taker.”

Shell faces legal fight over Arctic wells

• Shell paid $2.2bn for leases to drill for oil off Alaska • Groups claim US government skimped on review of dangers Nick Mathiason guardian.co.uk, Sunday 24 January 2010 17.08 GMT Shell could extract billions of barrels of oils from the US part of the Chukchi Sea if its controversial plans go ahead. Photograph: Leon […]

Alleged conflict of interest involving Shell Malaysia E&P manager

Grateful if you can follow up on my complaint against Shell Malaysia employee Surya Hidayat Abdul Malik (contracting and procurement country manager, Shell Malaysia E&P).

Yar’Adua’s absence stalls Nigerian oil reforms

While stressing Nigeria’s importance, Shell chief executive Peter Voser earlier this month played down its significance to the company’s global activities. “Nigeria is still a heartland for Shell, but we no longer depend on it for our growth aspirations. This gives us more flexibility in deciding when and how to develop oil and gas resources in Nigeria,” he said. – Sapa-AFP

BP’s Iraq oil deal faces court battle

If successful, Mrs al Musawi’s case could set a legal precedent that would invalidate all the agreements that Iraq secured last year – with BP, CNPC, ExxonMobil, Petronas, Royal Dutch Shell, Eni, Gazprom and Lukoil.

Essar Oil hit by a steep fall in crude-oil prices

Essar, which plans to have a refining capacity of one million barrels a day, is in talks to buy three European refineries from Royal Dutch Shell PLC. In July, Essar acquired a 50% stake in 80,000-barrel-a-day Mombasa- based Kenya Petroleum Refineries Ltd. from Shell, Chevron Corp. and BP PLC.