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Posts from ‘October, 2013’

Shell’s Limited Wiggle Room

It may be Halloween but Royal Dutch Shell didn’t have treats to offer investors Thursday… the Anglo-Dutch energy company’s third-quarter results—with earnings excluding the impact of inventories down 31%—showed a business under multiple strains… Its U.S. upstream business continues to lose money. And downstream, with refining margins under severe pressure, earnings dropped by half. FULL […]

Why no profits warning from Shell?

Good Morning Shell shareholders. Or rather bad morning. Shell’s results are out and it’s deja vu. Earnings are down from $6.2bn to $4.2bn. The shares opened 4% down. At the time of writing this article they are down 5%. Shell once again appears to be in breach of DTR 2 (Disclosure and control of insider […]

Royal Dutch Shell profit hit by Nigeria unrest

Royal Dutch Shell’s net profit slid 35 percent in the third quarter on lower refining margins and disruption to production in Nigeria, the Anglo-Dutch energy giant said on Thursday. “We are facing headwinds from weak industry refining margins, and the security situation in Nigeria, which continue to erode the near term outlook,” Royal Dutch Shell […]

Did BP, Shell, Statoil, And Others Fix Oil Prices?

Did BP, Shell, Statoil, And Others Fix Oil Prices And Behave Anti-Competitively? By Werner Kranenburg: Oct 30 2013, 13:46 In legal proceedings, which may prove critical for both physical oil traders and traders in oil-related financial instruments, who should take note for their own possible action, the focus of attention has of last week firmly […]

Shell Looks to Sell Nigerian Pipeline

By Sarah Kent, Benoît Faucon, Justin Scheck  Royal Dutch Shell PLC is trying to exit an oil-rich but violent part of Nigeria, say people briefed on the company’s plans to sell a leak-prone pipeline and several oil wells there. In recent weeks, the Anglo-Dutch energy giant has had early talks with Nigeria-based companies over selling […]

The Shell Make Money Story

The Shell Make Money story stretches back several decades. It is a story of spectacular success in terms of a sales promotion catching the public and media imagination, while also generating a huge boost in gasoline sales. Unfortunately the behind-the-scenes story is not so rosy, with Shell engaging in prize-rigging, deception and outright treachery. By […]

Gabon awards oil blocks; says can double production

Royal Dutch Shell and Total, both significant producers in the former French colony, participated in the round but came away empty-handed. Tue Oct 29, 2013 2:11pm EDT * Oil minister aims for production of 500,000 bpd * Ophir Energy, Exxon, Eni and Repsol among winners * Established producers Total, Shell empty handed By Jean Rovys […]

Wikipedia editing scandal

Wikipedia cannot say that it was not warned long ago about the corrupt practices going on behind the scenes by some members of its volunteer army of supposedly unpaid editors; an unhealthy culture of manipulation, secrecy, bullying and censorship, driven mostly by the root of all evil: money. By John Donovan Like many other people, […]

Shell’s mega(lomanic) FLNG project

Have you noticed it has gone a bit quiet around Andy Brown? Heralded as the saviour of the Upstream! He is not making a big impact apparently. And you should keep an eye open for this mega(lomanic) project of the FLNG. A floating LNG unit, described to be so long that it is equal to […]

Oil giants BP and Shell set for slump in profits

Rival Royal Dutch Shell puts out its third-quarter numbers on Thursday, with analysts at Deutsche Bank warning that they are viewing the update with ‘continuing trepidation’ after a disappointing second quarter.  PUBLISHED: 21:37, 27 October 2013 | UPDATED: 08:03, 28 October 2013 BP will this week raise its estimate of how much the 2010 Gulf […]

BP and Shell profits set to fall by billions

Shell will report that its net earnings have fallen 25 per cent to £4.9 billion, due to its struggles with spills, theft and disruption at its Nigerian operations, as well as higher exploration costs and a weak refining and petrol market. “Unfortunately, ongoing issues in Nigeria, higher exploration charges, losses in Upstream Americas plus a […]