Royal Dutch Shell Plc  .com Rotating Header Image

Posts from ‘August, 2015’

Discussing the costs of disaster for offshore US oil : Regulation and Environment

Screen Shot 2015-08-31 at 23.40.46

Screen Shot 2015-08-31 at 23.41.55

Screen Shot 2015-08-28 at 08.10.57In this week’s Oilgram News column, Regulation and Environment, Gary Gentile asks if the risks associated with ultra-deepwater oil production endeavors are properly disclosed to shareholders.

By Gary Gentile | August 31, 2015

Opponents of offshore drilling in frontier environments, such as the Arctic, have opened up a new front in their effort to curtail such efforts — asking US financial regulators to require more robust disclosure of the risks involved.

A group of Democrats in the US Congress have asked the Securities and Exchange Commission to force companies to tell investors the cost of a catastrophic accident resulting from drilling in ultra-deepwaters or in the harsh and remote waters off the coast of Alaska. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Arctic Drilling: A Giant Gamble for the Planet and Shell’s Bottom Line

Screen Shot 2015-08-31 at 23.19.30

Screen Shot 2015-08-31 at 23.21.08

Kieran Cooke, Climate News Network | August 31, 201

Shell is betting on finding the oil industry’s Holy Grail: according to 2008 estimates by the U.S. Geological Survey, the Arctic contains more than 20 percent of the world’s remaining hydrocarbon resources—including at least 90 billion barrels of oil.

If Shell does strike oil in big quantities maybe its gamble will pay off—and its anxious shareholders can look forward to handsome payouts.

But the whole venture is a high-risk business. The decision by the U.S. administration to allow Shell to start drilling in the Chukchi Sea, off the coast of Alaska, is highly controversial. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Obama set to visit Alaska’s Arctic Circle amid charges of hypocrisy

Screen Shot 2015-08-31 at 23.15.05

Screen Shot 2015-08-31 at 23.14.17

Screen Shot 2015-08-13 at 11.35.25Environmental advocates say decision to permit Shell to set rig off Alaska has tarnished president’s climate legacy

August 31, 2015 

by Renee Lewis @Renee5Lewis55 & Michael Pizzi @michaelwpizzi

President Barack Obama is set to become the first serving U.S. president to witness firsthand the impact of global warming in Alaska’s Arctic Circle when he visits the state this week to press for urgent action against climate change. But many activists have charged him with hypocrisy following his administration’s recent decision to formalize Royal Dutch Shell’s permit to drill for oil off Alaska’s northwest coast. Protests against the administration’s policies are planned Monday in Anchorage, Seattle and Portland. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

700 Walrus Seen Near Shell Oil Rigs in Arctic as Obama Visits Alaska

Screen Shot 2015-08-31 at 23.19.30

Screen Shot 2015-08-31 at 23.27.54

Screen Shot 2015-08-31 at 23.32.21

World View | August 31, 2015

Thousands of Pacific walrus are coming ashore on the northwest Arctic coast of Alaska, repeating a migratory change for the walrus which U.S. Geological Survey (USGS) scientists have called a clear effect of loss of Arctic Ocean sea ice on which the animals rely. As the walrus swim south from the preferred but now ice-free feeding ground, Hanna Shoal in the Chukchi Sea, many are passing close enough to the flotilla of Shell Oil ships on its drill site to be seen from the ships. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Oil prices slide as Obama lets Shell drill in the Arctic

Screen Shot 2015-08-31 at 12.42.48

Screen Shot 2015-08-31 at 12.40.10

Screen Shot 2015-08-13 at 11.35.25As the giant Shell oil company begins highly controversial and risky exploration drilling in the Arctic, the price of crude continues to slide. Kieran Cooke from Climate News Network reports: 31 August 2015

It’s a gamble — some would say a giant gamble. Before even one litre of oil has been found, the Anglo-Dutch Shell group is believed to have spent more than US$7 billion just making preparations for its latest Arctic venture.

Shell is betting on finding the oil industry’s Holy Grail: according to 2008 estimates by the U.S. Geological Survey, the Arctic contains more than 20 per cent of the world’s remaining hydrocarbon resources — including at least 90 billion barrels of oil. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Obama’s Alaska Visit Puts Climate, Not Energy, in Forefront

Screen Shot 2015-08-31 at 12.32.10

Screen Shot 2015-06-13 at 09.26.53

By JULIE HIRSCHFELD DAVIS: AUG. 31, 2015

WASHINGTON — President Obama will travel to Alaska on Monday to call for urgent and aggressive action to tackle climate change, capitalizing on a poignant tableau of melting glaciers, crumbling permafrost and rising sea levels to illustrate the immediacy of an issue he hopes to make a central element of his legacy.

But during a three-day trip choreographed to lend spectacular visuals and real-world examples to Mr. Obama’s message on global warming, he will pay little heed to the oil and gas drilling offshore that he allowed to go forward just this month, a move that activists say is an unsavory blot on an otherwise ambitious climate record. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Records detail equipment failure on Arctic drilling rig

Screen Shot 2015-08-30 at 22.35.10

Screen Shot 2015-08-30 at 22.36.41

Screen Shot 2015-08-13 at 11.35.25“The company’s repeated failures in basic readiness tests show that when things go wrong in the Arctic ocean, it will be a disaster…”

By Jennifer A. Dlouhy: August 30, 2015

WASHINGTON — Newly released documents reveal the extent of problems with anti-pollution equipment on a Shell-contracted Arctic drillship earlier this year.

The records, provided by the U.S. Coast Guard in response to a Freedom of Information Act request, also describe a botched fire drill by the crew of another Shell-contracted drilling rig months before it began boring an exploratory oil well in the Chukchi Sea.

That rig, the Transocean Polar Pioneer, was moored in Seattle and being prepared for its Arctic mission in May, when the Coast Guard conducted an initial inspection and two emergency drills onboard. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

U.S. Is Seen as Laggard as Russia Asserts Itself in Warming Arctic

Screen Shot 2015-05-11 at 12.10.09

Screen Shot 2015-08-30 at 08.18.35

Screen Shot 2015-08-30 at 08.28.39

Screen Shot 2015-08-30 at 08.27.00

Sources: American Association of Petroleum Geologists, Bureau of Ocean Energy Management, IBRU at Durham University, Bordermap Consulting, KlimaCampus Integrated Climate Data Center, U.S. Geological Survey: By The New York Times

By STEVEN LEE MYERSAUG. 29, 2015

ABOARD COAST GUARD CUTTER ALEX HALEY, in the Chukchi Sea — With warming seas creating new opportunities at the top of the world, nations are scrambling over the Arctic — its territorial waters, transit routes and especially its natural resources — in a rivalry some already call a new Cold War. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Obama: Climate change threatens to ‘wipe out’ American towns

Screen Shot 2015-08-30 at 08.34.18

Screen Shot 2015-08-30 at 08.35.13

By BARBARA BOLAND 8/29/15 

President Obama redirected attention from his decision to allow Shell to drill a well off the Alaskan coast to the “imminent danger” of climate change in his weekly address Saturday. Ahead of a three-day tour of Alaska, Obama said the northern state’s melting glaciers, swift shoreline erosion and rising sea levels threaten to “swallow one island community.”

“Think about that,” Obama said. “If another country threatened to wipe out an American town, we’d do everything in our power to protect ourselves. Climate change poses the same threat, right now.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shelling out too much

Screen Shot 2015-08-24 at 20.49.33

Screen Shot 2015-08-29 at 23.28.07

Screen Shot 2015-08-24 at 20.16.26

Mr van Beurden – who ill-advisedly said the deal only really sings once the oil price recovers to $90 a barrel – would be unwise to count on it. He’s on the hook for a £750m break fee if he pulls out, a pay-out he’d be hard pressed to survive.

By Jeremy Warner: Sunday Telegraph 30 Aug 2015

It would be wrong to say City investors are on the point of insurrection over Royal Dutch Shell’s blockbuster takeover bid for BG Group. Most big investors in Shell will also be major shareholders in BG, so if the stock and cash offer goes through, what they lose on the Shell roundabout they will gain on the BG swings.

None the less, it is ever more obvious Shell’s Ben van Beurden is overpaying for BG, as reflected in the fact that BG shares languish at a whopping great discount to the see-through value of Shell’s offer – 981p per share against 1134p. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

President Obama Defends Shell Arctic Drilling Decision

Screen Shot 2015-08-29 at 23.24.18

Screen Shot 2015-08-29 at 23.17.56

Screen Shot 2015-08-29 at 23.16.45

By: MICHEAL KAUFMAN: Aug 29, 2015 

Critics argue that allowing Shell to explore Arctic for oil goes against the country’s stance on climate change

President Obama has defended his decision to grant approval for drilling in the Arctic region, ahead of his trip to Alaska. Royal Dutch Shell plc (ADR) (NYSE:RDS.A) had been seeking the US government’s permission to conduct oil exploration in offshore Arctic. Last month, Shell was granted permission to drill a well off the coast of Alaska. The decision has been criticized heavily, as environmentalists have been quick to point out the risks associated with drilling in the Arctic.

President Obama’s Clean Power Plan, announced earlier this month, has also come in the line of fire. The plan, which calls for a 32% reduction in carbon emissions from power plants in the US, is aimed at reducing the country’s carbon footprint, as the US tries to lead the charge in the battle against climate change. Critics argue that allowing Shell to explore Arctic for oil goes against the country’s stance on climate change. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Obama says climate change is real, despite what skeptics say

Screen Shot 2015-08-29 at 23.06.48

Screen Shot 2015-08-29 at 23.04.45

Screen Shot 2015-08-29 at 23.11.41“We made it clear that Shell has to meet our high standards in how they conduct their operations – and it’s a testament to how rigorous we’ve applied those standards that Shell has delayed and limited its exploration off Alaska while trying to meet them.”

By Bruce Alpert, NOLA.com | Times-Picayune: 29 August 2015

WASHINGTON – President Barack Obama Saturday (Aug. 29 pressed the case for urgent action to combat climate change, while defending his administration from criticism by environmental critics unhappy with its approval of Shell’s plan to drill off Alaska’s coast.

“I share people’s concerns about offshore drilling. I remember the BP spill in the Gulf of Mexico all too well,” Obama said in his weekly radio address.

“That’s precisely why my administration has worked to make sure that our oil exploration conducted under these leases is done at the highest standards possible, with requirements specifically tailored to the risks of drilling off Alaska,” the president said. “We don’t rubber-stamp permits.  We made it clear that Shell has to meet our high standards in how they conduct their operations – and it’s a testament to how rigorous we’ve applied those standards that Shell has delayed and limited its exploration off Alaska while trying to meet them.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell offshore drilling application prompts conflict-of-interest charge

Screen Shot 2015-08-29 at 22.55.52

Screen Shot 2015-08-29 at 22.56.58

By Charles Mandel | August 29th 2015

Screen Shot 2015-08-29 at 22.59.41

Shell Canada Limited is applying to bring offshore drilling to Nova Scotia’s waters. But environmentalists are raising alarm bells over potential conflict of interest, as the group reviewing Shell’s application — the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) — includes a board member who worked at Shell Canada and Royal Dutch Shell for 30 years.

The federal Privy Council Office re-appointed Douglas Gregory as an alternate board member in March, 2014.

Gregory’s background includes work as an exploration geophysicist in Canada; and in 1999 opening Shell Canada’s exploration office, focused on deep water seismic exploration within Nova Scotia’s waters. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Offshore petroleum board refutes conflict charge

Screen Shot 2015-08-29 at 22.47.22

Screen Shot 2015-08-29 at 22.48.36

Screen Shot 2015-07-31 at 19.22.09JESSICA FLOWER: August 28, 2015 

Despite a U.K. newspaper’s suggestion of a conflict of interest in the Shell offshore drilling proposal approval process, the Canada-Nova Scotia Offshore Petroleum Board says it’s confident the steps it takes to eliminate any conflicts or unethical dealings neutralizes any concerns.

The Guardian reported Wednesday about a potential conflict of interest involving a board member, Douglas Gregory, and the Shell proposal now under review.

Before retiring in 2003, Gregory worked more than 30 years for Shell Canada and Royal Dutch Shell, and opened Shell’s Halifax exploration office. In 2008, the federal Conservative government appointed him to the board. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Obama defends Shell Arctic drilling decision

Screen Shot 2015-08-29 at 14.41.46

Screen Shot 2015-08-29 at 14.42.20

Screen Shot 2015-08-13 at 11.35.25By AFP 29 August 2015

Two days before heading to Alaska to raise climate change awareness, US President Barack Obama on Saturday defended his controversial decision to allow Shell to drill in the Arctic’s Chukchi Sea.

The Obama administration’s green light for the Anglo-Dutch oil giant angered environmental groups which have decried the “hypocrisy” of the president, who in recent months has stressed the need for aggressive actions against climate change.

Opponents note how the decision comes in the run-up to the UN climate conference in Paris in December. The meeting is seen as crucial in efforts to forge an agreement to curb international emissions. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Oil price rises: is this the end of the slump?

Screen Shot 2015-08-29 at 07.39.48

Screen Shot 2015-08-29 at 07.38.20

Screen Shot 2015-08-29 at 07.40.42

“The trend is strong and down… do not be wrong-footed by a correction higher…”

Aug 28, 2015: Brent in biggest one-day surge since December 2008 as pipelines closed down

Oil prices are continuing to rise after the market posted its biggest one-day surge for close to seven years, a recovery that comes off the back of a sharp decline earlier this week.

The Financial Times reports the international benchmark Brent crude jumped by more than 10 per cent, or $4.42, to settle at $47.56 a barrel on Thursday. On Friday morning it had fallen slightly in early trading and was hovering around $47.

This recovery had followed several days in which a renewed slump, which set in earlier in the summer, gathered pace. Prices hit a post-financial crisis low of close to $42 a barrel on Tuesday. Even now Brent is only back to where it was a week ago and at a level that remains punishing for producers in many regions. US crude settled at $42.86, another week-long high but relative low. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
%d bloggers like this: