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Posts under ‘Alaska’

Shell was underprepared for ill-fated tow across Gulf of Alaska

Extracts from an article by Suzanna Caldwell published April 3, 2014 by AlaskaDispatch under the headline: Coast Guard report shows Shell was underprepared for ill-fated tow across Gulf of Alaska A Coast Guard report released Thursday shows that while a series of events ultimately led to the grounding of a drilling rig designed to drill […]

Poor Management and Tax Dodging Led to Kulluk Grounding

Article by RACHEL D’ORO Associated Press published 4 April 2014 by ABC NEWS under the headline: “Report: Poor Management Led to Shell Grounding” A Coast Guard report says poor risk assessment and management were factors that led to the grounding of a Shell oil drilling rig in the Gulf of Alaska in 2012. The report […]

Royal Dutch Shell Chairman Jorma Ollila failed to disclose ownership of Luxembourg company worth €8.2 million

“It will be interesting to see what happens next. If Ollila (right) did not disclose his Luxembourg interests to the authorities, this was presumably because he did not declare them for tax purposes either. So when others within the companies that he leads commit breaches of inconvenient laws, they can presumably use the justification that […]

Shell’s disastrous tax dodge

Photo Courtesy Mark Meyer / Greenpeace Extracts from an article by Jim Paulin, Dutch Harbor Fisherman, published 23 March 2014 by AlaskaDispatch under the headline: Southwest Alaska municipalities want bigger share of oil royalties  Impacts are already being felt from the arrival of Royal Dutch Shell in Alaska. The arctic-class oil rig Kulluk grounded in […]

Exxon Valdez oil spill, 25 years later, offers lessons

Extracts from an article published 22 March 2014 by USA Today (USA TODAY) – Twenty-five years ago Monday, the oil tanker Exxon Valdez struck Bligh Reef in Alaska, causing what was then the largest U.S. oil spill in history. Its accident is refocusing questions about the risks of new Arctic oil drilling efforts by several […]

Nothing but ill-fortune for Shell off the shores of Alaska

Extracts from an article by Reuben Brewer published on 21 March 2014 by The Motley Fool under the headline: BP Wins One and Loses One in the Gulf Royal Dutch Shell has found nothing but ill-fortune off the shores of Alaska. Shell’s most public problem was the 2013 grounding of the Kulluk drill ship. However, that […]

What should frighten stiff Royal Dutch Shell shareholders

By John Donovan Any Shell shareholders diligent enough to wade through all the small print in the recently released Shell Strategic Report have grounds to shudder at the confirmation buried on page 8 that Royal Dutch Shell PLC mainly self insures its risk exposures. This information should be prominently displayed in large red text, flashing […]

Seplat Sees No Oil Theft in Nigeria, Where Shell Lost $1 Billion

Extracts from a Bloomberg article by Eduard Gismatullin published on 14 March 2014 Seplat Petroleum Development Co., the Nigerian oil producer raising $500 million from investors, said it had “absolutely no” theft in Nigeria, where Royal Dutch Shell Plc lost almost $1 billion due to sabotage in 2013. Seplat in July 2010 bought three licenses […]

Shell cuts spending in U.S. to lower shale exposure

Extracts from a Reuters article by Karolin Schaps and Dmitry Zhdannikov published 13 March 2014 LONDON, March 13 (Reuters) – Royal Dutch Shell will cut spending by a fifth and lay off staff at its American exploration and production business, the company said on Thursday, in another sign that oil majors are struggling to profit […]

Why wasn’t Marvin Odum fired after the Alaskan debacle?

Extracts from an article published on Thursday 13 March 2014 by Rigzone.com under the headline: “Shell Looks for Tighter Grip on Upstream Americas” Shell CEO Ben van Beurden commented: “Shell has a strong asset base and industry leadership in many of its growth themes. While this position of strength gives confidence for the future, it […]

Former Shell boss’s pay halved after poor performance

Extracts from a Reuters articled published Thursday 13 March 2014 (Reuters) – The pay of Royal Dutch Shell’s former chief executive, Peter Voser, halved to $11.24 million last year following what the company described as a disappointing performance. Shell suspended its controversial Arctic drilling programme earlier this year and pledged to cut spending and streamline […]

Shell scaling back drastically on exploration and is selling assets

Extract from an article by John Pendleton published Friday 7 March 2014 by righands.com In 2013 several of the major oil companies spent lavishly on offshore prospects and are now feeling the pain of exploration efforts that didn’t pay off. Royal Dutch Shell, for example, spent more than five billion dollars in a bid for […]

Shell Kulluk rig enjoying infamy

Extract from an article publish by Petroleum Economist 20 Feb 2014: North America’s Arctic drive idles A 30-YEAR-OLD veteran of the global drilling industry, the Kulluk rig has probably perforated its last well. It now sits in a Singapore dockyard, enjoying infamy as the vessel that ran aground on Alaska’s Sitkalidak Island at the end […]

Good News for the Arctic

Extract from article by Ted Danson and Andrew Sharpless published by Huffington Post.com 26 Feb 2014 On January 30, Shell’s new CEO, Ben van Beurden, announced that the company will not pursue exploration drilling in the Arctic Ocean in 2014. He also revealed Shell’s poor fourth-quarter earnings, attributable in part to offshore exploration expenditures, like […]