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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.

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Thu Nov 28, 2013 5:23am EST

* Norway’s gas exports cut by 17 pct on Thurs vs Wed

* UK gas prices rise on the news

* Gas exports cut to last until 0500 GMT on Friday

* Statoil’s gas output cut by 25.5 mcm/day on Thursday

By Balazs Koranyi and Gwladys Fouche

OSLO, Nov 28 (Reuters) – 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.

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Brent Rigging Suit Lawyers Fight Over Litigation Control

Screen Shot 2013-05-17 at 01.06.41The 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 for more than a decade.

Screen Shot 2013-02-01 at 15.08.50 By Bob Van VorisNov 27, 2013 9:27 PM GMT

Attorneys for four oil traders suing over alleged manipulation of crude prices copied much of their complaint and violated federal court rules in an attempt to control the litigation, a rival group of lawyers claimed.

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 (BP/), Statoil ASA (STL), and Royal Dutch Shell Plc, conspired with Morgan Stanley (MS) and energy traders including Vitol Group to manipulate spot prices for Brent crude oil for more than a decade. The benchmark is used to price more than half the world’s crude and helps determine where costs are headed for fuels including gasoline and heating oil.

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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.”

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By Sean Cockerham
McClatchy Washington Bureau: Posted on Wednesday, 11.27.13

WASHINGTON — 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.

The decision is among the toughest issues faced by new Interior Secretary Sally Jewell, who portrays herself as both an advocate for the environment and a supporter of drilling.

Jewell’s predecessor, Ken Salazar, allowed Shell to drill in the Arctic waters north of Alaska last year, only to later say the company “screwed up.” Interior Department spokeswoman Kate Kelly said Wednesday that drilling won’t resume until the agency has confidence that the effort addresses lessons learned.

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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.

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Shell Slips to Sell

by Zacks Equity Research   Published on

On Nov 26, Zacks Investment Research downgraded Europe’s largest oil company, Royal Dutch Shell plc (RDS.AAnalyst Report), to a Zacks Rank #4 (Sell).

Why the Downgrade?

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.

Results suffered due to higher costs, lower output, supply disruptions in Nigeria and a drop in refining margin. Segmental performance was also weak with both the Upstream and Downstream segment earnings falling below the prior-year level.

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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.

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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 liquefied natural gas plant after the partners decided to mothball their Shtokman LNG project, Vedomosti daily said on Wednesday.

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.

Gazprom, Total and Shell in Moscow declined to comment.

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Shell Produces Gas at Record Low Cost in China

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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 the Changbei field at $1 per barrel, or 91% lower than PetroChina’s lifting cost of $11.74 per barrel as of 2012 in similar projects.

Shell, taking advantage of China’s unconventional gas sector, is investing a total of $1 billion in China this year, and the Changbei project’s cheap production is helping to offset investment costs. Shell has also said it would continue to invest the same amount annually in China.

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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 Iran. Peter Voser, Shell’s outgoing chief executive, told an industry conference last month that Iran had “vast resources”… FULL FT ARTICLE

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 aground in 2012…

by Matthew DiLallo, The Motley Fool Nov 26th 2013 2:00PM

Melting Arctic ice caps are springing forth a new frontier for global commerce. New sea lanes are starting to open and more activity is coming to the region. This changing landscape has some suggesting that the last frontier for oil and gas companies might soon be more accessible.

With these changes come new challenges. It’s not just global oil companies that are interested in exploring this final frontier. Countries like China and Russia are looking to stake claim to the region, which could one day prove to be an issue for national security. That is why this transformation will need to be handled with care to protect the already fragile environment and relationships with those nations seeking to extract the region’s natural resources.

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Nigeria: Gas plant cut off by buildings

*”This is unbelievable – why did it take so long for Shell to realise?

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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 gas was shut in, affecting supply to industrial consumers and power plants, Precious Okolobo, a Lagos-based spokesman, said yesterday. The facility was halted on November 1 after “discovering different types of buildings and structures have been erected on high pressure gas pipelines, thereby exposing the occupants to considerable health and safety risk”, he said. Shell was working with the Rivers State government on “options to address the challenge”, Okolobo added, without providing further details. – Bloomberg

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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 to investors. Van Beurden started at the company in 1983. These are not fresh eyes. How long will investors give him before that simmering resentment boils over? Despite its issues, BP has left Shell in the shade.

THE SUNDAY TIMES: INSIDE THE CITY: DANNY FORTSON: PAGE 14 OF SECTION 3: BUSINESS: 24 NOVEMBER 2013

INVESTORS are sick of companies that spend oodles of cash on shiny new projects rather than handing it to shareholders. That is the reason behind the boardroom bloodbaths this year at the big miners. Rio Tinto BHP Billiton, Anglo American, African Barrick Gold, the list goes on. All of them parted company with chief executives after years of spending buckets of cash on mines and ill-fated takeovers that did little or nothing for investor returns.

The message, finally, came through: no more empire building.

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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.

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  •  Bob Lamont
  • 26th Nov 2013 6:28 AM

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.

Just remember these words from an Arrow Energy spokesman reported in a national daily: “Arrow has previously stated that it is results and value-focused and not schedule driven.”

After state approval, a Federal Government decision has been put off until December.

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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.

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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. It’s better known as the country of origin for an elaborate online fraud that starts with a polite email from a “barrister.”

For oil and gas companies operating in Nigeria, the email scams targeting unsuspecting Americans provide a tiny window into the industry’s daily operational challenges. Billions of dollars in potential revenues have been siphoned off by oil bandits in the southeastern Niger Delta region in recent years. All the while, billions more are spent by international oil companies to expand drilling and their capacity to export Nigeria’s oil and gas.

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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…

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Those who saw the ‘Capex Compression’ road show back in the summer will recall that Douglas Westwood expressed concern that oil prices would not rise to cover rising exploration and production costs, and that this would force the operators to cut Capex. 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. Moreover, the investment banks began calling for the oil majors to cut Capex. Goldman Sachs singled out Shell for excessive investment in low return assets, although the investment bank had indicated that deepwater should be spared.

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Shell Centre redevelopment public inquiry gets under way

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Monday 25 November 2013

A public inquiry into plans to redevelop the Shell Centre on the South Bank has begun.

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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 appointed to report to communities secretary Eric Pickles on the proposed redevelopment of the Shell Centre.

Plans by developers Braeburn Estates to demolish most of the oil company’s office complex apart from the main tower and build new offices, shops and nearly 900 homes on the site were approved by Lambeth councillors in May.

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Nigeria: The Scandal of Nigerian Oil Block OPL 245

Screen Shot 2013-05-13 at 17.33.04Shell and Eni deny paying any money to Malabu Oil and Gas. However, High Court proceedings and other evidence seen by Global Witness reveal that, in reality, Shell and Eni were aware and in agreement that the deal was for the benefit of Malabu, and had even met with Etete face-to-face on several occasions. In fact, testimony heard during the case indicates that an official from Shell previously negotiated directly with Etete over “iced champagne”…

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25 November 2013

How secrecy in the oil & gas sector and the use of anonymous shell companies led to hundreds of millions of dollars being diverted away from Nigeria’s citizens and into the hands of a convicted money-launderer.

The Story

In May 2012, Global Witness pieced together detailed court documents and other evidence that exposed how Nigerian subsidiaries of Royal Dutch Shell and Italian oil giant Eni agreed to pay US$1.092 billion for one of Nigeria’s most lucrative oil blocks, OPL245.

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Royal Dutch Shell plc: Maybe I’m clutching at straws

Screen Shot 2013-01-11 at 20.09.51Yes, there is plenty to hate about Shell right now. It is currently under investigation for rigging petrol prices, and European Commission plans to prevent future commodity market abuse could force up prices. Maybe I’m clutching at straws, but that’s love for you.

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Why I Love Royal Dutch Shell plc

Published in Investing on 25 November 2013

Extracts

There is something to love and hate in almost every stock. I still harbour warm thoughts towards Royal Dutch Shell, although sometimes I wonder why.

Shell has taught me the value of patience.

Patience is a virtue, they say. If that’s so, long-term investors in Shell must be very virtuous indeed. The stock is down 2% over the last two years, against a 28% rise in the FTSE 100. It is up just 3% in the past year, against 16% for the index. Shell is the straggler of my portfolio. Yet I simply refuse to believe this will continue.

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Shell share price: Will Anglo-Dutch oil major rein in capital spending?

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The underperformance of the share price reflects investors’ dissatisfaction with the fact that “Europe’s biggest oil company is burning through cash at an extraordinary rate.” The appointment of van Beurden, head of Shell’s refining division who started at the company 30 years ago, has left investors unimpressed as they see him as yet another chief executive steeped in a culture of spending big on mammoth engineering projects. 

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by Branimir Kondov, : 11:12 GMT, Nov 25 2013

EXTRACTS

iNVEZZ.com, Monday, November 25: Investors are concerned that Ben van Beurden, the incoming boss at the helm of Royal Dutch Shell (LON:RDSA, LON:RDSB), will not attempt to rein in the company’s massive spending on new projects. According to an article published yesterday by the Sunday Times, there has been no indication so far that van Beurden, who will replace Peter Voser as chief executive on January 1, 2014, is going to to rethink Shell’s plan to spend $130 billion (£80.1 billion) on new developments between 2012 and 2015.

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OSSL OFFERS A CASH REWARD IN SHELL SCANDAL

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One of the recipients of the OSSL email is the outspoken Garda Commissioner Martin Callinan (shown right), who appears to be under considerable pressure at the moment. He has issued an astonishing warning of ‘mass assassinations’ if the Ombudsman gain access to classified files.

By John Donovan

Printed below is a self-explanatory email sent to the Irish police and Shell regarding the Garda corruption scandal currently being investigated by the Garda Siochána Ombudsman Commission.

One of the recipients of the OSSL email is the outspoken Garda Commissioner Martin Callinan (shown right), who appears to be under considerable pressure at the moment. He has issued an astonishing warning of ‘mass assassinations’ if the Ombudsman gain access to classified files. I have no idea if this warning relates to the Ombudsman investigation of OSSL allegations.

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The Shell Corruption Scandal in Ireland

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Posted by John Donovan

An unsolicited comment received from Ed Vulliamy on the article/email entitled Shell sponsored Corruption of the Garda 

“This far down the line, until Gilligan and the other police officers and Shell employees named are interviewed in depth, and make public, clearly worded and outright denials that NO alcohol was delivered at ANY time at Shell’s bequest – and accuse OSSL of total fabrication – we shall reasonably take OSSL’s account to be the truth. The police and Shell have had years to issue forthright denials, but have not, preferring instead convoluted constructions and the language of corporate public relations. We have meanwhile become aware of some compelling visual evidence. Their silence speaks for itself.”

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Shell Sponsored Corruption of the Garda

As previous agreed, I am sending two of my Investigators (Rody Butler and Sivan Govinder) to London on the 10th December 2013 to interview you at the Irish Embassy.  Further details will follow closer to the date. We are making the booking today for them to travel to London and cannot be changed.

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EMAIL SENT ON 22 NOVEMBER 2013 TO EVERY TD MEMBER OF THE DAIL (THE IRISH PARLIAMENT) 

Shell Sponsored Corruption of the Garda

I last contacted you in May regarding serious allegations made by Shell’s “Mr Fixit” contractor in Ireland, OSSL.

At that time the Garda had already carried out an investigation of the allegations.

Since then, a second investigation has been carried out, this time a so-called “independent” investigation by a senior Garda officer, Supt. Thomas Murphy.

As a result of his investigation, a third investigation is currently under way, on this occasion by the Garda Siochána Ombudsman Commission.

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Canada’s Tar Sands Oil Boom Yields Toxic Wastewater Lakes

Companies including Syncrude Canada, Royal Dutch Shell and ExxonMobil affiliate Imperial Oil are running out of room to store the contaminated water that is a byproduct of the process used to turn bitumen—a highly viscous form of petroleum—into diesel and other fuels. By 2022 they will be producing so much of the stuff that a month’s output of wastewater could turn New York’s Central Park into a toxic reservoir 11 feet deep…

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 By  

Canada is blessed with 3 million lakes, more than any country on earth—and it may soon start manufacturing new ones. The oil sands industry is in the throes of a major expansion, powered by C$20 billion ($19 billion) a year in investments. Companies including Syncrude Canada, Royal Dutch Shell (RDS/A), and ExxonMobil (XOM) affiliate Imperial Oil are running out of room to store the contaminated water that is a byproduct of the process used to turn bitumen—a highly viscous form of petroleum—into diesel and other fuels. By 2022 they will be producing so much of the stuff that a month’s output of wastewater could turn New York’s Central Park into a toxic reservoir 11 feet deep, according to the Pembina Institute, a nonprofit in Calgary that promotes sustainable energy.

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Arctic 30 images outside Shell HQ

Greenpeace has unveiled giant portraits of the activists arrested in Russia as part of the group’s continuing campaign against drilling in the Arctic. The images were placed outside the London offices of oil giant Shell.

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Western Morning News: Friday, November 22, 2013

Greenpeace has unveiled giant portraits of the activists arrested in Russia as part of the group’s continuing campaign against drilling in the Arctic.

The images were placed outside the London offices of oil giant Shell. The so-called Arctic 30 are awaiting trial on piracy and hooliganism charges after being arrested in the Arctic two months ago.

Greenpeace said it was drawing attention to Shell and its Russian partner Gazprom’s planned joint venture to drill for oil in the Arctic.

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Shell Oil Self-Imposes Carbon Pollution Tax High Enough To Crash Coal, Erase Natural Gas’s Value-Add

Comment received on this article: Shell hypocrisy at its best… Shell claim to price carbon emissions at $40/ton, but then ignore the conclusions!

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By Joe Romm on November 21, 2013 at 5:36 pm

Royal Dutch Shell includes a high price for carbon dioxide when evaluating new projects. The $40 a metric ton price that Shell uses would — if widely adopted — reshape domestic and international energy consumption and investment trends.

Shell discussed this policy in its 2012 Sustainability Report, but it hasn’t received much attention. CDP (aka the Carbon Disclosure Project) is putting out a report next month detailing the efforts of many companies to price carbon internally, which may help spur coverage of this important topic.

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Slaughter and May Reservations over Royal Dutch Shell SEC filing

Screen Shot 2013-10-01 at 07.56.54I wonder how many ordinary stock holders in Royal Dutch Shell Plc are aware of the extensive reservations set out by Slaughter and May in Exhibit 5.1 attached to an SEC filing involving gazillions of dollars, in which Royal Dutch Shell Plc is the sole guarantor?; e.g. “undertakings, covenants and indemnities contained in the Indenture may not be enforceable before an English court…”; Is this a prudent move bearing in mind the flood of recent negative news about Shell, with the CEO about to jump ship?

By John Donovan

I have published below the reservations of Slaughter and May in relation to a filing by SHELL INTERNATIONAL FINANCE B.V. with the United States Securities and Exchange Commission on 13 November 2013 signed by Company Secretary, Michiel Brandjes. Royal Dutch Shell Plc is the guarantor.

Huge sums of money are involved.

US$1,000,000,000 0.900 per cent. Guaranteed Notes due 2016;

US$1,250,000,000 2.000 per cent. Guaranteed Notes due 2018;

US$750,000,000 Floating Rate Guaranteed Notes due 2015; and

US$1,000,000,000 Floating Rate Guaranteed Notes due 2016, 

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Greenpeace Arctic 30: A shift in focus for campaigners

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Greenpeace set out to protest about oil companies drilling in the Arctic Ocean, but now finds itself fighting to free a group of 30 from a Russian jail. What effect is the case having on the group’s environmental aims?

“The primary focus is getting the Arctic 30 free and home with their loved ones. That’s what we are spending every hour working on.”

Ben Ayliffe used to be head of Greenpeace’s Save the Arctic campaign. But now even his job title is different.

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Release of Interior’s Arctic standards for offshore oil development delayed

Screen Shot 2013-11-01 at 09.31.18Arctic-specific standards to guide offshore oil operations — rules crafted in response to Shell’s trouble-plagued 2012 drilling season — will be issued later than expected, the head of a key federal agency said on Wednesday.

Tick tock: Kulluk’s countdown to disaster unveiled

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Yereth RosenNovember 20, 2013

Arctic-specific standards to guide offshore oil operations — rules crafted in response to Shell’s trouble-plagued 2012 drilling season — will be issued later than expected, the head of a key federal agency said on Wednesday.

A draft version of the new standards, initially expected by the end of the year, is now expected in early 2014, said Tommy Beaudreau, director of the Bureau of Ocean Energy Management and acting assistant Interior secretary for lands and minerals.

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U.S. Oil Probe Disclosure Delayed as Court Mulls Speedy Appeal

Screen Shot 2013-11-21 at 00.15.41Oil traders including Morgan Stanley (MS:US) and Royal Dutch Shell Plc (RDSA) asked a Manhattan federal judge to block the release of millions of records to plaintiffs lawyers… The files include e-mails, depositions, trading records and audio files.

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November 20, 2013

The court-ordered disclosure of internal oil company documents including e-mails and trading records from a 6-year U.S. probe will be delayed at least six days while a federal appeals court considers speeding up review of a challenge to the ruling.

Oil traders including Morgan Stanley (MS:US) and Royal Dutch Shell Plc (RDSA) asked a Manhattan federal judge to block the release of millions of records to plaintiffs lawyers — files that had been gathered by the Commodity Futures Trading Commission as part of its probe begun in December 2007.

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Shell and PetroChina Reveal Cheap Gas Costs at Changbei Field

Screen Shot 2013-02-01 at 15.08.50 By Aibing Guo – Nov 20, 2013 3:19 AM GMT

Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, and PetroChina Co. (857) are producing natural gas from the Changbei field in China at a 91 percent discount to PetroChina’s average lifting cost last year across all of its assets.

The cost of output from the field in the Shaanxi province is $1 per barrel of oil equivalent and that’s much lower than similar projects, Xu Li, Shell’s general manager of the asset told a group of reporters at the unit’s headquarters on the outskirts of Yulin yesterday. PetroChina’s lifting cost in 2012 was $11.74 per barrel of oil, according to its annual statement.

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Kashagan field commercial production delayed until 2014

Kashagan field commercial production delayed until 2014

08 November 2013

Kashagan is a major oil and gas field in the Kazakh sector of the Caspian Sea with reserves estimated at 38 billion barrels (six billion tonnes) of which eleven billion barrels are recoverable. The field also has over one trillion cubic metres of gas.

The consortium is led by Italian company ENI and commercial production was originally due to start in 2008. In late May 2012, the government of Kazakhstan signed an updated agreement stipulating the start of commercial production before June 2013.

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Vitol, Shell Ask Judge to Halt Release of CFTC Oil Probe Records

Screen Shot 2013-05-17 at 01.06.41Some of the world’s largest oil traders including Vitol Group, Morgan Stanley and Royal Dutch Shell Plc (RDSA) are asking a judge to stop the disclosure of millions of records gathered by the top U.S. commodity regulator during its nationwide investigation of the crude markets. The haul includes e-mails, depositions, trading records and audio files obtained by the U.S. Commodity Futures Trading Commission… Last month, four longtime traders on the New York Mercantile Exchange filed a lawsuit claiming they can prove that BP, Statoil and Shell conspired with other firms, including Morgan Stanley and Vitol, to manipulate Brent crude, a benchmark used to price more than half the world’s oil.

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By Asjylyn Loder and Bradley Olson November 19, 2013

Some of the world’s largest oil traders including Vitol Group, Morgan Stanley and Royal Dutch Shell Plc (RDSA) are asking a judge to stop the disclosure of millions of records gathered by the top U.S. commodity regulator during its nationwide investigation of the crude markets.

The haul includes e-mails, depositions, trading records and audio files obtained by the U.S. Commodity Futures Trading Commission since its probe of the oil market began in December 2007. The companies are appealing an Oct. 25 order by U.S. District Judge William H. Pauley that would allow the handover of the trove to lawyers leading a civil case alleging market manipulation by firms controlled by Norwegian billionaire John Fredriksen.

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Where angels fear to tread

It’s often said that the definition of insanity is doing the same thing over and over again but expecting different results. So what should we make of Royal Dutch Shell’s  decision to return to the Chukchi Sea? Is this pure folly, or is there method in Shell’s madness? A comedy of errors; Shell’s history in the Chukchi Sea reads like a rap sheet. Shell will have to make do without the albatross of its Kulluk rig, which the company has finally acknowledged is barely worth its value in scrap. That means another write-off in the fourth quarter of a few hundred million dollars, but, hey, who’s counting?

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1 Way Shell Shouldn’t Emulate ExxonMobil

It’s often said that the definition of insanity is doing the same thing over and over again but expecting different results. So what should we make of Royal Dutch Shell‘s (NYSE: RDS-A  ) decision to return to the Chukchi Sea? Is this pure folly, or is there method in Shell’s madness?

A comedy of errors
Shell’s history in the Chukchi Sea reads like a rap sheet. Shell reached a settlement with the U.S. Environmental Protection Agency this September under which the company paid out $1.1 million for violations of the Clean Air Act. EPA cited “numerous violations” of Shell’s air permits.

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Transocean’s Alaska rig contract with Shell starts July 2014

The Transocean rig effectively replaces Shell’s Kulluk, a drillship that ran aground in January while being towed south after a troubled 2012 drilling season for the company off Alaska.

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Mon Nov 18, 2013 6:07pm EST

Nov 18 (Reuters) – Royal Dutch Shell Plc has a contract with Transocean Ltd for a drilling rig to start work off the coast of Alaska starting July of next year – in time for the state’s traditional Arctic offshore drilling season.

Confirmation on timing of the previously announced contract came in Transocean’s monthly fleet status report, released late on Monday.

Speculation about Shell’s intentions for Alaska next year has bubbled since an executive said at the end of October he expected to submit an Alaska exploration plan in a “few weeks,” with a focus on the Chukchi Sea.

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Shell details plans for drilling in Chukchi Sea off Alaska

Screen Shot 2013-01-11 at 20.09.51A leased drill ship, the Polar Pioneer, would substitute for the Kulluk — the conical, Shell-owned ship damaged in the now-notorious New Year’s Eve grounding — as the backup drill rig that would be used in a cleanup in the event of a well blowout.

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Yereth Rosen:November 18, 2013

Shell plans to drill five wells over several years at its Burger prospect in the Chukchi Sea, according to a revised exploration plan filed Nov. 6 and posted online by the U.S. Bureau of Ocean Energy Management.

Under the plan, Shell would use the leased Noble Discoverer drill ship to finish the well it started in 2012 and drilled to 1,505 feet. Five additional Burger wells also would be drilled.

“It is anticipated that this work will take place over a number of drilling seasons,” the 423-page modified plan says.

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Shell speaks out over Don Marketing

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Forecourt Trader: Shell speaks out over Don

Page 5 of April 1995 Edition

Text from article

Shell has broken its vow of silence and issued a strongly-worded statement to defend itself against what it sees as “the growing number of untrue and often offensive allegations being made by Don Marketing”.

Shell is defending legal actions which allege that it wrongfully used two forecourt promotions devised by Don Marketing. Previously, the oil company has remained silent, preferring to “resolve the dispute in the courts which Shell believes is the proper forum for a commercial dispute”.

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Where is the most ethical place to fill up your car?

If ever there was a “What’s your poison?” dilemma, this is it. First, history: Shell in Nigeria, Total in Burma… No brand gets off lightly…

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Pumped up: choose an independent petrol station if you want to be an ethical motorist. Photograph: MBI /Alamy

Lucy Siegle: The Observer, Sunday 17 November 2013

If ever there was a “What’s your poison?” dilemma, this is it. First, history: Shell in Nigeria, Total in Burma… No brand gets off lightly, but Exxon (merged with Mobil in 1999 to make the world’s largest oil company) is famous for its campaign to de-legitimise climate science, not least by funding the influential US lobbying group Global Climate Coalition (GCC).

Until the Deepwater Horizon catastrophe – the 2010 oil spill in the Gulf of Mexico – BP had a better reputation. It withdrew from the GCC in 1996, accepted climate change in 1997, and spent the early 2000s investing in solar. Elf Aquitaine (later merged with Total) never contested climate change, but arguably hasn’t done much to help the planet either.

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Greenpeace World Protesters from Presidents, Hollywood Stars and Activists

Across the world, Greenpeace activists from all backgrounds are coming out including protesters at Shell gas stations, Hollywood elite stars and even presidents. The goal is to gather awareness and call for the release of the Arctic 30: the 28 activists and two journalists imprisoned in Russia. The Arctic 30 are being charged with piracy for their protest held at an oil rig in Russia.

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Las Vegas Guardian Express: By Cayce Manesiotis on November 16, 2013.

Saturday, U.K. protesters were staged at Shell gas stations. This was a response to the news that Shell will embark with the Russian oil company, Gazprom, in Arctic shore drilling. The Shell gas station protesters gathered signatures for their petitioning of Shell to pull out of the Arctic endeavor with Gazprom.

The activists handed letters to Shell gas station managers, which outlined the Arctic 30’s arrest, their charges and how Greenpeace is against Arctic drilling given the disastrous risk to climate change. The Greenpeace coordinator in south London said Gazprom “were key in the locking up of 30 of our volunteers” and noted they asked for their arrest.

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Qatar Shell hosts reception for global CEO

Qatar Shell hosted a reception at The St Regis Doha last week to bid farewell to Royal Dutch Shell CEO Peter Voser, who is to retire from the company at the end of March 2014 after 29 years of service. The reception also welcomed the new CEO-designate, Ben van Beurden, who will take over from Voser on January 1, 2014.

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HE Sheikha al-Mayassa bint Hamad bin Khalifa al-Thani, HE Abdullah bin Hamad al-Attiyah, HE Dr Mohamed bin Saleh al-Sada and other dignitaries during the event.

Qatar Shell hosted a reception at The St Regis Doha last week to bid farewell to Royal Dutch Shell CEO Peter Voser, who is to retire from the company at the end of March 2014 after 29 years of service. The reception also welcomed the new CEO-designate, Ben van Beurden, who will take over from Voser on January 1, 2014.

Van Beurden has worked for Shell’s upstream and downstream businesses in Europe, Africa, Asia and the United States. The event was hosted by Wael Sawan, managing director and chairman of Qatar Shell.

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Shell rethinking its Pa. cracker plans

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By Linda Harris, Legal Reporter – email: Nov 15, 2013

Royal Dutch Shell is rethinking its plans for an ethane cracker in Western Pennsylvania and two other cash-intensive projects, leaving business leaders in the Mountain State to wonder if the spin-off economic growth they’ve been anticipating is ever going to come.

Shell CEO Peter Voser told analysts the company can’t afford to do the cracker in Pennsylvania plus a gas-to-liquids plant in Louisiana and a liquid natural gas plant in Canada. Voser said in the near future, the company will have to decide which of the three signature projects to give the green light.

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Supermajordämmerung

SHELL, DRIVEN TO THE ENDS OF THE EARTH

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The day of the huge integrated international oil company is drawing to a close

In the 1950s the seven sisters controlled some 85% of global reserves. Today over 90% of reserves are under the control of national oil companies (NOCs) which are owned, at least in part, by the governments sitting on the oil in question.

As well as missing some good opportunities, the supermajors seem to be pursuing some dubious ones. Shell’s misfiring attempts to explore the Arctic, now abandoned until 2014 after damage to vital equipment, look like an extreme example of lack of choice.

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London wide Greenpeace protest

Greenpeace supporters will hold protests at over 70 Shell petrol stations across the country in support of the ‘Arctic 30’ today. It comes as Russian officials have signaled they will ask that the Greenpeace group be detained an extra 3 months – meaning they could be behind bars over Christmas.

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Sat 16 Nov 2013

Greenpeace supporters will hold protests at over 70 Shell petrol stations across the country in support of the ‘Arctic 30’ today.

It comes as Russian officials have signaled they will ask that the Greenpeace group be detained an extra 3 months – meaning they could be behind bars over Christmas.

Activists will be asking bystanders to sign a petition asking Shell to pull out of their joint oil drilling venture with Gazprom.

Protests will take place across Shell’s petrol stations in London, including: Bayswater, Holloway Road, Old Street, Southwark, Whitechapel, Grosvenor Road, Lewisham, Richmond Road and Staines Road.

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They’re Backkkk…

Screen Shot 2013-01-11 at 20.09.51After a series of calamities in Shell Oil Company’s 2012 Arctic drilling program, which included having its oil spill containment dome “crushed like a beer can” (BOEM officials words, not mine), having its drilling rig the Noble Discoverer slip an anchor (and at another point in time catch fire), and ending the season by losing control of its other drilling rig, the Kulluk, which ran aground off the coast of Alaska’s Kodiak Island, many questioned whether or not Shell would be back in the Arctic.

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Cindy Shogan

After a series of calamities in Shell Oil Company’s 2012 Arctic drilling program, which included having its oil spill containment dome “crushed like a beer can” (BOEM officials words, not mine), having its drilling rig the Noble Discoverer slip an anchor (and at another point in time catch fire), and ending the season by losing control of its other drilling rig, the Kulluk, which ran aground off the coast of Alaska’s Kodiak Island, many questioned whether or not Shell would be back in the Arctic.

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Shell’s LNG-Producing Monster Ship, Prelude

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On Geoje Island, off the coast of South Korea, as many as 5,000 workers have been building the largest vessel ever constructed. With a deck the size of seven football fields and containing three times as much steel as the Golden Gate Bridge, the Prelude will spend years anchored above a natural gas field off Australia, pumping fuel from under the seabed and turning it into a liquid that can be shipped to Asian customers.

Led by Royal Dutch Shell (RDS/A), the project could transform the global gas industry. Until now, liquefied natural gas projects, which chill the fuel until it turns into a liquid that can be transported on tankers, have relied on giant onshore plants. Putting an LNG facility on top of a ship will open up dozens of fields once considered too remote or too small to be viable. “It’s a very crucial technology,” says Shell Chief Executive Officer Peter Voser, who rates approving the project as the single most important decision he’s made while running the Anglo-Dutch company. “This will be a solution that works for many, many fields.”

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Platts System Could Be ‘Prone’ to Collusion, EU Official Says

Screen Shot 2013-05-17 at 01.06.41Platts’s oil-price reporting system “could be prone to collusion or distortion,” according to the European Union official in charge of the benchmark probe that led to raids on the premises of BP Plc, Royal Dutch Shell Plc and Statoil ASA. The EU probe is still examining two areas of concern — abuse of dominance and unlawful collusion, Gauer said.

FREE BOOZE SUPPLIER SHELL

Screen Shot 2013-11-14 at 14.50.09By John

The OSSL email barrage seeking recovery from Shell of tens of thousands of euros allegedly spent by OSSL purchasing and supplying free booze to Irish cops on Shell’s behalf continues…

OSSL EMAIL TO SHELL, THE GARDA, AND ROADBRIDGE

From: THE OSSL COMPANY <[email protected]>
Subject: Message number 289 ……two hundred and eighty nine ….all unanswered !!!!!!!!
Date: 14 November 2013 13:11:22 GMT
To: [email protected], Commissioner <[email protected]>, Thomas Murphy <[email protected]>, [email protected], Michael Crothers <[email protected]>, Michiel Brandjes <[email protected]>, “<[email protected]>” <[email protected]>, Peter Voser <[email protected]>, [email protected], John Shell News <[email protected]>

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Shell Said to Seek $6 Billion Credit Line Amid Lower Loan Costs

Jonathan French, a London-based spokesman for Shell, confirmed the company’s existing credit line expires in 2015. He declined to comment on the new debt facility.

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November 14, 2013

Royal Dutch Shell Plc (RDSA) is seeking a $6 billion credit line to replace an existing loan as banks cut borrowing costs for Europe’s largest companies to the lowest in more than five years.

Europe’s largest oil and gas producer is offering to pay an interest margin of 12.5 basis points, or 0.125 percentage point, more than the benchmark rates on the five-year loan, according to three people with knowledge of the matter, who asked not to be identified because the terms are private. Barclays Plc is helping to arrange the financing for the company based in The Hague.

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Costs threaten $20bn LNG plant

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by: MATT CHAMBERS: From: The Australian: November 15, 2013

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Why I May Sell Royal Dutch Shell Plc Today

This Is Why I May Sell Royal Dutch Shell Plc Today

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Royal Dutch Shell Plc (LON:RDSB) has become a chronic underperformer. Roland Head highlights some worrying figures and explains why he may head for the exit.

Royal Dutch Shell (LSE: RDSB) (NYSE: RDS-B.US) is one of the longest-serving shares in my ISA portfolio. Over the last five years, it’s boasted an average dividend yield of 5.2%, and although annual dividend growth has only averaged 3.6%, it has been a good source of income.

Despite this, I’m starting to tire of Shell’s underperforming ways, and am wondering whether the firm is an oversized dog that has had its day. Should I cut it loose, and find a smaller, more focused business to invest in?

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Shell Is Working on ‘Promising’ Renewable Technology, Voser Says

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By Eduard Gismatullin – Nov 13, 2013 10:38 AM GMT

The following are excerpts from an interview with Royal Dutch Shell Plc (RDSA) Chief Executive Officer Peter Voser at the company’s headquarters in The Hague.

Voser, who has headed Europe’s largest oil and gas producer since 2009, steps down at the end of the year, 31 years after first joining the company.

On Shell and renewable energy:

“It would be stupid from the oil and gas industry to say that renewables will not play a major role in the energy system of the next few decades.

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Arctic 30: Greenpeace turns on Shell

Screen Shot 2013-01-18 at 10.08.58As the detention of Greenpeace’s ‘Arctic 30’ by Russian security services approaches its second month, a shift of campaign tactics is taking place. Now Shell, Gazprom’s partner in developing oil and gas on the Arctic Shelf, is in the firing line.

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The Ecologist: 13th November 2013

As the detention of Greenpeace’s ‘Arctic 30’ by Russian security services approaches its second month, a shift of campaign tactics is taking place. Now Shell, Gazprom’s partner in developing oil and gas on the Arctic Shelf, is in the firing line.

Greenpeace is targetting Shell in a new round of protests aimed at securing the release of the Arctic 30 protestors arrested on a Russian oil platform owned by oil and gas giant Gazprom in the Arctic Ocean 56 days ago.

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Artists demand end to Southbank Centre’s partnership with Shell

Screen Shot 2013-11-13 at 15.38.25“The arts sponsorship that Shell is giving out is blood money, because people in Nigeria are suffering and even dying as a result of Shell’s operations. Land is taken, livelihoods are destroyed, and the environment is devastated as a result of Shell’s activities.  “All they think is about is profit. Arts organisations shouldn’t be complicit in giving Shell a good image – it’s an insult to our daily struggle against their impact in the Niger Delta.”

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Fundraising | Alice Sharman | 13 Nov 2013

A group of artists who perform at the Southbank Centre are calling on it to drop Shell’s sponsorship, saying it is damaging to its reputation.

Twenty-one artists, musicians and authors have signed a letter calling on the Centre to cut its ties with the oil giant.

The petition comes in the wake of the 18th anniversary of Ken Saro Wiwa’s execution. Saro Wiwa, a Nigerian writer, was campaigning against Shell’s activities in the Niger Delta when he was executed along with eight other activists in Nigeria in 1995.

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