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Posts from ‘April, 2010’

SEC Announces $113.5 Million Distribution For Shell Investors

NASDAQ By Fawn Johnson, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The U.S. Securities and Exchange Commission will begin distributing about $113.5 million to some 84,000 investors Friday stemming from a 2004 settlement with Royal Dutch/Shell Group after it was accused of overstating its oil reserves. A federal court approved the distribution plan earlier this […]

Oil spill sparks new drilling ban

BBC News Homeland Security Secretary Napolitano: This is a spill of national significance Friday, 30 April 2010 13:15 UK The US administration has banned oil drilling in new areas of the US coast pending investigations into the cause of the oil spill off Louisiana. “No additional drilling has been authorised and none will until we […]

Shell to proceed with Arctic offshore plans despite spill

The Associated Press Published: April 29th, 2010 11:39 AM Last Modified: April 29th, 2010 11:40 AM FAIRBANKS — A large oil spill in the Gulf of Mexico has come at a tricky time for two companies seeking to increase Arctic exploration. The Gulf spill occurred weeks after Shell and Conoco Phillips said they would boost […]

Shell not planning oil sands expansion – paper

REUTERS * Shell plans no expansions in oil sands * Expects to boost output from existing ops (In U.S. dollars unless noted) CALGARY, Alberta, April 29 (Reuters) – Royal Dutch Shell Plc (RDSa.L) has no plans to quickly expand its oil sands operations, focusing instead on tweaking output from its existing investments, the head of […]

Shell, PetroChina Bid for Arrow Energy Wins Approval

April 30 (Bloomberg) — Royal Dutch Shell Plc and PetroChina Co. received approval from Australia’s Foreign Investment Review Board to acquire gas producer Arrow Energy Ltd. in a A$3.5 billion ($3.3 billion) transaction.

U.S. Gulf States Mobilize for Oil Spill Reminiscent of Valdez

April 30 (Bloomberg) — U.S. Interior Department inspectors began boarding deep-water platforms in the Gulf of Mexico, and Louisiana asked for help from the National Guard as an oil sheen reportedly washed ashore in the worst rig spill in four decades.

The U.S. will “use every single available resource at our disposal,” in response to the spill, President Barack Obama said yesterday. BP Plc, which owns the leaking well, is “ultimately responsible” for paying for the cleanup, the president said. A faint sheen washed ashore on the Louisiana coastline last night, the Associated Press reported. Oil may hit Mississippi tomorrow, Alabama in two days and Florida in three, according to a government forecast.

Oil is escaping from the well at a rate of about 5,000 barrels a day, five times faster than previously estimated, according to the U.S. Coast Guard. At that rate, the volume of the leak will exceed Alaska’s 1989 Exxon Valdez accident by the third week of June, making it the worst U.S. oil spill.

“This has a danger of becoming an utter ecological disaster,” said Ken Medlock, a fellow in energy and resource economics at Rice University’s Baker Institute for Public Policy in Houston. “This is going to result in remediation costs, and is going to be burdensome, to say the least.”

Louisiana Governor Bobby Jindal declared a state of emergency and demanded extra oil barriers from BP and the U.S. Coast Guard to protect wildlife preserves that nurture a $1.8 billion seafood industry, the richest in the U.S. behind Alaska.

Shell refuses to comment on Oklahoma oil royalties fraud

“As you surmise, we will not be commenting.  As always, you cannot take our silence to mean that we agree with any of your conclusions.”: Richard Wiseman, Chief Ethics & Compliance Officer, Royal Dutch Shell Plc 29 April 2010 NANCY FULLER HEBBLE AND OTHERS vs SHELL OIL CO. On 13 April 2010, Shell filed an […]

Royal Dutch Shell Delays Oil Sands Expansion, Globe Reports

April 29 (Bloomberg) — Royal Dutch Shell Plc has put plans to expand operations in Alberta’s oil sands on hold for at least five years, the Globe and Mail reported, citing Marvin Odum, the company’s Americas head. Costs to build in the oil sands have increased, prompting the company to delay any decisions to expand […]

Shell’s profit gusher not as productive as it looks

ft.com By Andrwe Hill Published: April 28 2010 22:54 Profits are like oil: great resources to have, but greater still when converted into hard cash. Royal Dutch Shell pumped out more oil and gas and made a decent fist of improving profits in the first quarter. Its cash conversion rate, however, was horrid. The Anglo-Dutch […]

Big banks, Shell blast CFTC position limit plan

“Royal Dutch Shell is the only major oil company objecting to the plan by the U.S. Commodity Futures Trading Commission to limit speculative positions in U.S. oil and gas futures. In view of its track record of market manipulation, including false reporting, fictitious sales, fictitious trades and manipulation of natural gas prices, the attempt to […]

SHELL JOINS CLEAN-UP EFFORT FOR BP SPILL

Financial Times Multinational petroleum company Royal Dutch Shell (RDSa.L) has dispatched six boats to assist in cleaning up the oil spill caused by last week’s fatal accident aboard the Deepwater Horizon oil rig. The rig had been drilling a well for BP (BP.L) in the Gulf of Mexico — an area Shell deems “very important”, […]

FIRE AND ICE: Shell and BP’s hunt for offshore oil in Alaska

“An ugly and growing oil leak associated with the explosion and sinking of the Deepwater Horizon oil drilling rig in the Gulf of Mexico last week has raised questions… providing new leverage to environmentalists and North Slope residents…” Alaska Dispatch Craig Medred and Jill Burke Apr 28, 2010 Since the Arctic whaling days of the […]

‘Controlled Burn’ Considered for Gulf Oil Spill

NEW YORK TIMES A version of this article appeared in print on April 28, 2010, on page A1 of the New York edition. By LESLIE KAUFMAN With a vast oil slick now within only 20 miles of the ecologically fragile Louisiana coastline, Coast Guard officials said they were considering a “controlled burn” of the petroleum […]

Higher oil prices lift Royal Dutch Shell’s profits by 60 per cent

April 28, 2010 Robin Pagnamenta, Energy Editor Royal Dutch Shell announced a 60 per cent increase in profits this morning, propelled by higher oil and gas prices and growth in production. Shell, Europe’s biggest oil company, said that the current cost of supply profits, a key industry measure which strips out fluctuations in the price […]

Shell Widens Talks On Sale Of European Refineries

Shell Stanlow Refiney THE WALL STREET JOURNAL APRIL 28, 2010 LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) is still in talks with Essar Oil Ltd. (500134.BY) over the sale of three of its European refineries, but the company has also initiated talks with other parties, Chief Financial Officer Simon Henry said Wednesday. Other potential buyers […]

Shell sees profits surge on oil price rise

By Daily Mail Reporter Last updated at 8:43 AM on 28th April 2010 Oil giant Royal Dutch Shell today revealed that profits rose almost 50 per cent during the first three months of the year as it joined rival BP in benefiting from higher oil prices. The Anglo-Dutch firm reported earnings of $4.9bn (£3.2bn) for […]

Shell 1Q Beats Consensus On Improved Oil, Gas Output

THE WALL STREET JOURNAL 28 APRIL 20010 By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) Wednesday posted a consensus-beating 60% rise in adjusted profit for the first quarter due to higher oil prices and output that grew much faster than expected. “We are making good progress in improving our […]

Security firm for Shell at Corrib site rejects ‘conclusion on alleged assault’

The Irish Times – Wednesday, April 28, 2010 LORNA SIGGINS Western Correspondent THE COMPANY providing security to Shell at the Corrib gas project in north Mayo for the past two years has said it rejects outright a “central conclusion” of a report on the dispute at the site by a human rights organisation. The security […]

Shell’s last throw of the dice on the Corrib Gas Project.

Shell planning large tunnel off the coast of Mayo 25 April 2010 By Nicola Cooke Shell will apply to An Bord Pleanála next month for permission to build a large tunnel under the seabed off the Mayo coast as part of the latest plan to get gas from the Corrib field. The move, designed to avoid […]

Focus on sinister events surrounding Shell Corrib Gas project

“He examines issues relating to Shell security firm, I-RMS, including surveillance of residents, and licensing and vetting of staff, such as the former staff member who travelled to Bolivia with late Irishman Michael Dwyer in late 2008.” The analysis in the report of a number of incidents relating to the Corrib gas dispute is critical […]

US evacuates oil rig after Gulf of Mexico leak

US authorities have evacuated an oil platform in the Gulf of Mexico near where another oil rig sank after an explosion last week. Workers on the Ocean Endeavour were evacuated as an oil slick from the wrecked platform was coming dangerously close, officials say

Earnings Preview: Shell to post strong Q1

In addition to cutting personnel costs, Shell has been investing heavily in new capacity to reverse a decade-long slide in production. Most analysts are upbeat about future prospects, but it may underperform peers until production comes on line. Shell has frozen its quarterly dividend at the 2009 level of $0.42 per share for 2010 to protect its balance sheet.

Shell drafted letter Tony Blair sent to Gaddafi while Prime Minister

“In the draft, Shell tells Mr Blair to discuss positive progress on weapons of mass destruction as well as the investigation into the murder of WPC Yvonne Fletcher outside the Libyan Embassy in London in 1984.” David Robertson, Business Correspondent Tony Blair lobbied Colonel Muammar Gaddafi on behalf of Shell in a letter written for […]

Toxic soil lurks beneath Carson neighborhood

“Shell was slow to cooperate with the investigation, Egoscue said. “Initially they were dragging their feet,” she added. The agency sent the company a notice of violation in April 2009.” “Most residents have joined a lawsuit against Shell and others…” “It’s the most despicable situation I’ve seen in 40 years of doing this…” Rosemary Noval […]

Shell Expects ‘Seamless’ Transition as Geelong Contract Ends

By Ben Sharples April 27 (Bloomberg) — Royal Dutch Shell Plc said it expects a “seamless transition” when a cleaning contract ends at its Geelong oil refinery in Australia’s Victoria State at the end of the month. Shell anticipates no impact on production, spokesman Paul Zennaro said by phone in Melbourne today. Fuel supplies could […]

1,000 barrels of oil a day spilling in the Gulf of Mexico

NASDAQ 26 April 2010 BP plc ( BP ) is now leading the charge in containing the oil spill in the Gulf of Mexico following the explosion of one of its contracted offshore rigs. The company, together with Swiss drilling contractor Transocean Ltd. ( RIG ), is currently drilling a well to activate a blowout […]

BP, ROYAL DUTCH SHELL, EXXON MOBIL AND CHEVRON PAY FIXING INVESTIGATION BY FTC

NASDAQ 26 April 2010 BP as well as Royal Dutch Shell plc, Exxon Mobil Corp. and Chevron Corp. are being investigated by the U.S. Federal Trade Commission regarding compensation of their employees, according to the Wall Street Journal over the weekend. The probe is over whether the human resources departments of the various companies have […]

FTC Investigates Oil Firms Over Hiring, Wages

THE WALL STREET JOURNAL By THOMAS CATAN 26 APRIL 2010 WASHINGTON—The Federal Trade Commission is investigating whether the world’s biggest oil companies colluded to suppress managerial, professional and technical employees’ wages in ways that violated U.S. antitrust laws, according to people familiar with the matter. The previously undisclosed probe has been open for several years […]

Iran issues ultimatum to Royal Dutch Shell

Iran gives Shell, Repsol a week to decide on Pars TEHRAN, April 26 (Reuters) – Iran has given Royal Dutch Shell (RDSa.L: Quote, Profile, Research) and Repsol (REP.MC: Quote, Profile, Research) one week to decide on their involvement in the offshore South Pars natural gas field, the semi-official Mehr news agency reported on Monday. Iran […]

Oklahoma Appeals Court Rules Shell Guilty of Royalties Fraud

“In the present case, the reprehensibility of Shell’s conduct is heightened by its intentional deceit of the interest owners whose oil proceeds it held for their benefit…” NANCY FULLER HEBBLE AND OTHERS vs SHELL OIL CO. In May 2008,  an Oklahoma jury ordered Shell Oil Co. to pay a whopping $66 million to five royalty […]

Shell says Middle East needs to solve “gas puzzle”

Reuters) – The Middle East needs to solve the conundrum which sees it sitting on 40 percent of the world’s gas reserves and yet suffering from a supply shortage, a senior executive from Royal Dutch Shell (RDSa.L) said on Monday.

Shell, Total Step Up Reliance on Gas as Access to Oil Declines

April 26 (Bloomberg) — Royal Dutch Shell Plc and Total SA are among energy producers shifting the balance of their production toward natural gas as oil-rich countries clamp down on access and deposits become easier to tap.

Oil: A tale of two cartels

Tony Hayward, group chief executive of British Petroleum, made heads turn at the World Economic Forum in Davos, forecasting a “supply challenge” for the energy industry, which would have to increase output to 100mbd — a new peak for oil from the current capacities of 83-84 mbd. He was strongly backed by Mr Peter Voser, CEO of Royal Dutch Shell, who added to the scare stating that the industry would have to find up to $27 trillion to fund the investment in oil over the next 20 years.

Oil groups turn focus back to traditional fields

Europe’s largest oil company by market value, Royal Dutch Shell Plc (RDSa.L) has said it plans to direct 60-70 percent of its investments into the industrialised countries of the Organisation for Economic Co-operation and Development (OECD).

Oil rig spill off Louisiana could threaten coastline

The slick has now grown to about 1,500 sq km BBC NEWS There are fears of an environmental disaster in the Gulf of Mexico, as efforts to clear up an oil spill have been suspended because of bad weather. A drilling rig leased by the oil company BP exploded and sank off the Louisiana coast […]

Shell saved Hitler and the Nazi Party

How Royal Dutch Shell saved Hitler and the Nazi Party. Same motive then, as for Shell dealing with the terrorist Gaddafi, the corrupt Saudi regime and the fanatical Iranian mullahs now: access to oil. We have gathered much more evidence of Shell’s evil relationship with the Nazi. Like this:Like Loading…

Rig blast shadows rise in BP profits

The Sunday Telegraph: BP is expected to say this week that profits almost doubled in the first quarter, as it investigates the circumstances surrounding the explosion of a drilling rig it had hired in the Gulf of Mexico.

‘Serious spill’ from sunken US oil rig

Oil leaks from a sunken drill pipe 5,000 ft beneath the ocean surface BBC NEWS Oil is leaking from a damaged well feeding a rig that sank off Louisiana on Thursday, in what US officials are calling “a very serious spill”. The well is estimated to be leaking at a rate of about 1,000 barrels […]

Heysham Shell Oil Refinery – Witness Appeal

Monday, 5 April 2010 Paralegals Field Fisher Waterhouse are looking for people who worked at the Shell Oil Refinery in Heysham, Morecambe, from around 1945 to 1960.“We are investigating a possible claim relating to asbestos exposure for a family,” they tell us. “Any help or information would be very much appreciated.“Please contact Rose on 020 […]

Short-termism at Royal Dutch Shell

UPDATED MONDAY 26 APRIL 2010 “In an obsessively cost conscious environment such as the one that rules in Shell at the moment all labour-intensive sectors are at risk –irrespective of their intrinsic value or their competence – or even the likely long-term demand for their products and services.” Posting on Shell Blog by Wilt Staph […]