By Augustine Osayande, 28 January 2014
January 28th, 2014:
Nigeria: Shell Commits to Polio Eradication in Delta
Shell’s lavish spending on quixotic drilling adventures
Shell’s quest for new reserves has seen it pump billions into money-devouring plays such as its Athabasca Oil Sands Project in northern Alberta and the Kashagan oilfield, a deeply troubled project in Kazakhstan. It’s even tried deep water drilling in the high Arctic. That attempt ended when the stormy waters of the Chukchi Sea crippled its Kulluk drilling platform, forcing the company to pull up stakes. Investors can’t simply count on ever rising oil prices to justify Shell’s lavish spending on quixotic drilling adventures around the world.
Why Turning a Buck Isn’t Easy Anymore for Oil’s Biggest Players
Jeffrey Rubin: Former Chief Economist, CIBC World Markets
27 Jan 2014
Judging by pump prices, Canadian drivers might think oil companies were rolling in profits that only move higher. Lately, though, the big boys in the global oil industry are finding that earning a buck isn’t as easy as it used to be.
Royal Dutch Shell, for instance, just announced that fourth quarter earnings would fall woefully short of expectations. The Anglo-Dutch energy giant warned its quarterly profits will be down 70 percent from a year earlier. Full-year earnings, meanwhile, are expected to be a little more than half of what they were the previous year.
Shell Said to Seek Buyers for $1 Billion Stake in Ho-Ho Pipeline
Royal Dutch Shell Plc (RDSA) is seeking to sell a stake in its Houston-to-Houma crude oil pipeline, which Europe’s largest oil company recently reversed and renamed, people familiar with the matter said. Shell is working with Barclays Plc (BARC) to solicit offers for a stake of as much as $1 billion… Shell on Jan. 17 warned fourth-quarter earnings fell to the lowest level since 2009 due to rising losses in the Americas and deteriorating refining markets.
By Matthew Monks January 27, 2014
Royal Dutch Shell Plc (RDSA) is seeking to sell a stake in its Houston-to-Houma crude oil pipeline, which Europe’s largest oil company recently reversed and renamed, people familiar with the matter said.
Shell is working with Barclays Plc (BARC) to solicit offers for a stake of as much as $1 billion in the conduit, which is known as the Ho-Ho system and valued at about $3 billion in its entirety, said one of the people, asking not to identified because the matter is not public.
MPs in Aberdeen to hear helicopter safety evidence
27 January 2014
MPs from the House of Commons transport select committee are visiting Aberdeen to take evidence on helicopter safety.
The inquiry was set up after last year’s Super Puma crash off Shetland which killed four people.
Since 2009, five serious incidents involving Super Puma helicopters offshore have seen 20 people lose their lives.
The transport committee is holding an open evidence session at Aberdeen University.
MPs will take evidence from helicopter operators and manufacturers – including Eurocopter who make the Super Puma.
Brazil Says Shell Must Negotiate Encroaching Oil Reservoir
Sabrina Lorenzi: Monday, January 27, 2014
RIO DE JANEIRO, Jan 27 (Reuters) – Brazil’s ANP oil regulator said Royal Dutch Shell needs to negotiate with the Brazilian government on an oil reservoir that exceeds the limits of the concession block it controls with France’s Total, according to an ANP document seen by Reuters on Monday. The oil reserve, located in Shell’s BM-S-54 block, encroaches on areas controlled by the Brazilian government that have not yet been auctioned.
Ukraine’s cooperation with Shell expanded
27 January 2014
Ukraine’s agreement with international company Royal Dutch Shell remains inviolable, Prime Minister Mykola Azarov has reaffirmed in Davos. Moreover, according to him, cooperation with the largest international company will be expanded, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
Following the results of negotiations in Davos between Azarov and Jorma Ollila, Chairman of the Board of Directors of Royal Dutch Shell, it became known that the seventh largest company in the world can deal not only with shale gas production in Ukraine.
BP Employees Outraged by Lack of Compensation
BP Employees, Outraged by Lack of Compensation, Warn Oil Spill Victims
Tuesday, 21 January 2014 09:41 By Dahr Jamail, Truthout
Long-term employees accuse oil giant BP of greed, exploitation and lying about their pensions.
Earlier this month BP’s attempts to curb compensation payouts to those impacted by its 2010 Gulf of Mexico disaster failed after its appeal was rejected by a US court.
Dozens of people and businesses that have claims against the oil giant have told Truthout they are infuriated at the company’s ongoing attempts to avoid payments, and they are not alone.
Several long-term senior BP employees are incensed at what they believe is BP’s attempt to short-change them on their pensions.