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Posts from ‘November, 2013’

Ormen Lange problem cuts Norway gas output

Norwegian gas exports were cut by a fifth of peak capacity on Thursday after an outage at the plant processing gas from Royal Dutch Shell’s giant Ormen Lange field, limiting gas exports to Europe at a time of high demand. Thu Nov 28, 2013 5:23am EST * Norway’s gas exports cut by 17 pct on […]

Brent Rigging Suit Lawyers Fight Over Litigation Control

The traders, represented by the New York-based law firm Kirby McInerney LLP, sued last month in Manhattan federal court claiming some of the world’s biggest oil companies, including BP Plc, Statoil ASA, and Royal Dutch Shell Plc, conspired with Morgan Stanley and energy traders including Vitol Group to manipulate spot prices for Brent crude oil […]

Administration considers whether to allow Shell to resume Arctic oil exploration

The Obama administration is weighing whether to allow Shell to resume drilling in Arctic waters after a series of mishaps halted its controversial oil exploration effort last year. Ken Salazar, allowed Shell to drill in the Arctic waters north of Alaska last year, only to later say the company “screwed up.” By Sean Cockerham McClatchy […]

Shell Downgraded

On Oct 31, Shell reported third quarter 2013 adjusted earnings of $1.43 per ADR, well below the Zacks Consensus Estimate of $1.70. This was the company’s second consecutive miss. The fourth quarter does not seem bright for the company either. Shell Slips to Sell by Zacks Equity Research   Published on November 27, 2013 On Nov […]

Report: France’s Total Eyes Gazprom’s Baltic LNG Project

Without attributing the information to any sources, the paper also said Gazprom had invited Royal Dutch Shell, its partner in Russia’s only LNG plant, to join the project. by  Reuters: Wednesday, November 27, 2013 MOSCOW, Nov 27 (Reuters) – French oil major Total is looking for a stake in Russian gas firm Gazprom’s future Baltic […]

Shell Produces Gas at Record Low Cost in China

By Charles Kennedy | Tue, 26 November 2013 Royal Dutch Shell has announced it is producing natural gas at its Changbei project in China at a major discount and plans to start test production in the second phase by late next year or early 2015. In partnership with PetroChina, Shell is producing natural gas from […]

Iran opens contacts with oil groups

FINANCIAL TIMES November 26, 2013 In his first interview with the foreign media, the minister who persuaded the likes of Total, Royal Dutch Shell, Eni and Statoil to invest in the oil and gas sector in the 1990s despite US sanctions, said these companies were now among those he was seeking to attract back to […]

Is the Last Oil Frontier About to Open Up?

Royal Dutch Shell , for example, has spent more than $5 billion on its Alaskan Arctic program with nothing to show for it. This time around Shell has signed a contract with Transocean on a rig that starts in July. Previously, Shell had used its own rig, Kulluk, and one owned by Noble Corp. . It was the Kulluk that ran […]

Nigeria: Gas plant cut off by buildings

*”This is unbelievable – why did it take so long for Shell to realise? NIGERIA Gas plant cut off by buildings Royal Dutch Shell has shut its Obigbo natural gas processing plant in Rivers State, southern Nigeria, after buildings were erected over pipelines connected to the facility. About 40 million cubic feet a day of […]

SHELL KEEPS DIGGING A DEEPER HOLE

Europe’s biggest oil company is burning through cash at an extraordinary rate. Shell shareholders have long nursed a low level of dissatisfaction. Many were underwhelmed by the appointment of yet another chief executive from deep within the Anglo-Dutch behemoth, which is steeped in a profound love for big engineering projects and an apparently dismissive attitude […]

Worrying signs over the viability of Arrow LNG’s project

ARROW Energy’s major shareholders are Royal Dutch Shell and PetroChina. There are some disturbing signals coming from them that may see plans for the construction of a fourth LNG plant on Curtis Island go the way of the dodo.  Bob Lamont 26th Nov 2013 6:28 AM ARROW Energy’s major shareholders are Royal Dutch Shell and […]

Shell’s U.S. shale woes are no match for oil bandits in Africa

Shell’s financial losses associated with oil theft and sabotage in Nigeria have emerged as a quarterly theme this year, alongside the company’s struggling North American shale gas investments. Joel Kirkland, E&E reporter: EnergyWire: Friday, November 22, 2013 To many, Nigeria’s claim to fame has nothing to do with its role as a major oil producer. […]

Deepwater drilling

Shortly after the presentation, the oil majors posted dreadful Q2 results, prompting Shell CEO Peter Voser to declare Shell would discontinue production guidance to focus on quarter by quarter cash flow growth. Goldman Sachs singled out Shell for excessive investment in low return assets…   Those who saw the ‘Capex Compression’ road show back in the […]

Shell Centre redevelopment public inquiry gets under way

  Monday 25 November 2013 A public inquiry into plans to redevelop the Shell Centre on the South Bank has begun.   The inquiry, which is expected to sit for a total of 12 days between now and mid-December, is being held at Hercules House near Lambeth North Station. Planning inspector John Braithwaite has been […]