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Posts from ‘July, 2011’

Shell Reports Higher Earnings on Oil Prices

Jason Alden/Bloomberg: A Shell station in London, U.K. Shell posted adjusted earnings of $6.6 billion, matching the mean estimate of nine analysts surveyed by Bloomberg. By Eduard Gismatullin – Jul 28, 2011 8:47 AM GMT+0100 Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, said second-quarter earnings almost doubled on higher oil prices and project [...]

Royal Dutch Shell Profit Nearly Doubles

By JULIA WERDIGIER: July 28, 2011 LONDON — Royal Dutch Shell, the biggest oil company in Europe, said on Thursday that its profit almost doubled in the second quarter on higher oil prices and as new oil and gas projects came on stream. Profit rose to $8.7 billion in the April-through June period, from $4.4 [...]

Shell’s second-quarter profit rises 55%

July 28, 2011, 3:06 a.m. EDT By Alexis Flynn LONDON -(MarketWatch)- Royal Dutch Shell PLC (RDSB.LN) Thursday posted a 56% rise in adjusted profit for the second quarter, buoyed by higher oil prices and the first contributions from its recently delivered flagship projects in Canada and Qatar. “Our second quarter 2011 earnings were higher than [...]

Can anyone clean up an Arctic oil spill?

Patti Epler: Jul 27, 2011 Environmental groups earlier this week challenged oil companies to prove they can clean up an oil spill in the Arctic. The challenge is all part of a ramped-up public relations and political effort by a coalition of more than a dozen national conservation organizations to pressure the Obama administration into [...]

Delays Exploring for Alaska Oil Waste Tax Dollars, Shell Says

By Katarzyna Klimasinska – Jul 27, 2011 3:30 PM GMT+0100 Royal Dutch Shell Plc (RDSA), blocked from exploring on federal leases off Alaska valued at more than $2 billion, said four years of government delays may be “irresponsible” and a waste of taxpayers’ money. The company needs about 35 U.S. permits to start drilling in [...]

Shell to Stop Processing at Australian Refinery by Mid-2013

By Ben Sharples and James Paton – Jul 27, 2011 7:19 AM GMT+0100 Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, will halt refining operations at its Clyde plant in Sydney before mid-2013 and convert the facility into a fuel-import terminal. The plant, which processes about 79,000 barrels a day of crude oil and [...]

BP is now in danger of becoming a ‘jam tomorrow’ business

By Damian Reece 12:17PM BST 26 Jul 2011 Management, led by Bob Dudley, is gradually losing the trust of shareholders who have sat through one failure after another, most recently the Macondo oil spill and then the spectacular blow up of its Russian strategy. BP I expect one of the big pictures to emerge form [...]

Shell rapidly expanding its positions in unconventional gas (tight gas, shale gas and coal-bed methane)

From pages 31 & 32 of “Royal Dutch Shell and its sustainability troubles” – Background report to the Erratum of Shell’s Annual Report 2010 The report is made on behalf of Milieudefensie (Friends of the Earth Netherlands) Author: Albert ten Kate: May 2011. Unconventional gas and high-volume fracking Not only for oil, but also for [...]

Shell trumps BP in the battle of the oil giants

Britain’s biggest oil companies are expected to reveal bumper profits totalling a massive £9.2bn for the quarter, but troubled BP, once industry leader, will be far outstripped by Shell. By Josie Ensor 6:00AM BST 25 Jul 2011 Royal Dutch Shell is set to post quarterly profits of £4bn on Tuesday, a 60pc increase on the [...]

BP Breakup Worth $100 Billion to JPMorgan

By Brian Swint – Jul 25, 2011 12:01 AM GMT+0100 Robert Dudley (right) could unlock $100 billion for BP Plc (BP/) investors by following ConocoPhillips and splitting up Europe’s second-biggest oil producer. BP, trying to recover from last year’s Gulf of Mexico disaster, has lagged behind its three larger rivals this year, rising 1 percent [...]

Canary Wharf to transform Royal Dutch Shell site

Canary Wharf Group has been chosen to transform five acres surrounding Royal Dutch Shell’s headquarters on London’s Southbank – one of the capital’s last remaining big development sites. By Jamie Dunkley 6:20AM BST 25 Jul 2011 The oil group has picked a bid by Canary Wharf, which is majority owned by Songbird Estates and Qatari [...]

Another leukemia patient sues Shell, BP

The complaint alleges that Shell has known about the dangers of benzene causing cancer for decades, but publicly minimized and hid those dangers. By SANFORD J. SCHMIDT: The Telegraph: July 22, 2011 7:58 PM EDWARDSVILLE – For the third time this year, a victim of an aggressive form of leukemia who spent time in Roxana [...]

Canary Wharf, Shell to revamp London site: report

July 24, 2011, 11:01 a.m. EDT By London Bureau LONDON (MarketWatch) — U.K. property developer Canary Wharf is poised to seal a landmark deal to transform the area round Royal Dutch Shell PLC’s (RDSA.LN) London office with financial backing from Qatar, The Sunday Times reports without citing sources. Shell is expected to announce within a [...]

Oil companies poised to unveil huge profits

Britain’s three biggest oil companies are set to reveal huge profits totalling almost $15bn (£9.2bn) for the past three months, with market leader Royal Dutch Shell making around $75m (£46m) per day. High oil prices have boosted the earnings of Royal Dutch Shell, BP and BG Group, with the cost per barrel of crude averaging [...]

Shell, ConocoPhillips get draft Alaska air permits

Fri Jul 22, 2011 5:19pm EDT By Yereth Rosen ANCHORAGE, Alaska, July 22 (Reuters) – U.S. federal regulators said on Friday they issued draft air-quality permits to Royal Dutch Shell (RDSa.L) and ConocoPhillips (COP.N), a key step for the oil companies’ drilling plans in Arctic waters of Alaska. The permits cover Shell’s plans to drill [...]