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Posts under ‘Africa’

Shell says Nigerian oil theft costs billions

Extracts from a Reuters article by Alex Lawler and Simon Falush published 13 March 2014 * Shell says $1 bln/month oil theft figure probably accurate * Proposed legal changes curbing Nigeria’s oil output * Some Nigerian risks worsened, Shell says in annual report Nigeria is important for Shell because the African country provides almost 10 […]

Shell: no certainty fracking for Karoo shale gas economically viable

Extracts from an article by Melanie Gosling published on 11 March by Independent Online under the headline: “Fracking revenue still not quantified – Shell” Cape Town – Shell says there is no certainty that fracking for shale gas in the Karoo will be economically viable. Niall Kramer, Shell’s upstream manager, told delegates at a roundtable […]

Sasol ‘eyes Shell Karoo acreage’

Extracts from an article by Eoin O’Cinneide published by upstream online.com South African petrochemicals giant Sasol is eyeing some of Shell’s shale gas acreage in the country’s Karoo basin… ”We are really interested in what is going in the Shell block and would love to farm in or take a piece of it,” Reuters quoted Sasol chief […]

Glencore interested in buying Shell assets in Nigeria

Extracts from a Reuters report by Silvia Antonioli published Tuesday 4 March 2014 (Reuters) – Commodity trader and miner Glencore (GLEN.L) confirmed on Tuesday its interest in buying oil assets that oil major Shell (RDSa.L) is selling in Nigeria. A source said last month that Glencore and commodity trading house Mercuria were among the short-listed […]

Royal Dutch Shell Shuts Nigeria Nembe Creek Oil Pipeline

Extract from a Wall Street Journal article by Obafemi Oredein published 27 Feb 2014 BADAN, Nigeria–Royal Dutch Shell PLC’s (RDSA) Nigerian unit said Thursday that the Nembe Creek Trunk oil pipeline was shut down to stop leakage caused by oil theft. Shell said the pipeline was replaced in December 2010 at a cost of $1.1 […]

Shell agrees sale of downstream businesses in Australia to Vitol

Shell today announced it has reached a binding agreement to sell its Australia downstream businesses (excluding Aviation) to Vitol for a total transaction value of approximately A$2.9 billion (US$2.6 billion). The sale covers Shell’s Geelong Refinery and 870-site retail business – along with its bulk fuels, bitumen, chemicals and part of its lubricants businesses in […]

Nigerian lawmakers recommend revoking Shell, Eni OPL 245 oil block licence

Extract from an article published by Platts 20 Feb 2014 A global anti-corruption crusader Global Witness in late 2012 said that Shell and Eni may run foul of UK legislation over the acquisition of the oil block, on grounds that the the transaction ran counter to the anti-bribery legislation in the UK as well as […]

House Of Reps Cancel $1.1bn Malabu Oil Deal

Daily Times of Nigeria article by Ugochukwu Onyeocha: 19 Feb 2014 The Nigerian House of Representatives on Tuesday in Abuja, ordered the immediate cancellation of the fraudulent sale of a lucrative oil bloc OPL 245 to oil firms, Shell and Agip, in a shady deal facilitated with the payment of $1.1 billion (about N165 billion) […]

Nigeria ravaged by $20bn oil robbery

It was 2am when a fireball pierced the inky night sky above a small community in the Niger delta. The explosion near Port Harcourt last June killed several people and released 6,000 barrels of crude oil. The cause: contractors hired by Royal Dutch Shell to stop pirates siphoning oil from a huge pipeline were themselves […]

Glencore-Macquarie Said to Exit Race for Shell Australia Assets

By Brett Foley, Andy Hoffman and Jesse Riseborough: February 12, 2014 Macquarie Group Ltd. (MQG) and Glencore Xstrata Plc (GLEN) dropped out of bidding for Royal Dutch Shell Plc (RDSA)’s Australian oil refinery and filling stations, according to four people with knowledge of the matter. The assets Shell is selling include storage terminals, filling stations […]

UK environmental science: In association with Shell

The Natural Environment Research Council signed a ‘Memorandum of Understanding’ with Shell. You should be disturbed by this Workers subcontracted by Shell clean up an oil spill from an abandoned well in Oloibiri Town, Nigeria. Photograph: Ed Kashi/Corbis Posted by Alice Bell: Friday 7 February 2014 15.19 GMT theguardian.com Today, the Natural Environment Research Council (Nerc) signed […]

Royal Dutch Shell and Mad Dog Gaddafi

The compilation of articles accessible below provide the answer to why Tony Blair and Royal Dutch Shell executive director Malcolm Brinded (above left), sucked up to the Libyan dictator Muammar al-Gaddafi, the monster ultimately responsible for the Pan-Am 103 bombing and other terrorist atrocities. They include the murder of a British police constable Yvonne Fletcher […]

Ben van Beurden will need more than PR skills to navigate Shell’s choppy seas

Ben van Beurden gave a flawless performance last week as he stepped onto the public stage for the first time as chief executive of Shell and sought to explain how the company had cut its annual profits in half despite a year of sky-high oil prices. He should have been torn limb from limb, but […]

Nigeria: Bonga Oil Spill – FG Fines Shell $11.5 billion

Shell Nigeria Exploration and Production Company, SNEPCO, was, yesterday, ordered by Nigerian Maritime Administration and Safety Agency, NIMASA, and the National Oil Spill Response and Emergency Agency, NOSREA, to pay a total of $11.5 billion, about N1.84 trillion, as fines and compensation for the 2011 Bonga oil spill incident. “The kind of impunity Shell and […]