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Shell resumes Arctic drilling but cuts $15bn from global investment

Royal Dutch Shell is reviving plans to drill for oil in Arctic in a move likely to intensify its battle with environmentalists. The Anglo-Dutch giant’s chief executive Ben van Beurden accepted that Arctic drilling “divides society”, but said the world needs new sources of oil. Greenpeace said Shell was taking a “massive risk” in a […]

Shell wants to resume drilling in Arctic this summer

By Karolin Schaps and Ron Bousso Jan 29 (Reuters) – Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high. Remote and costly to develop, the Arctic is estimated to contain 20 percent of […]

Plan to allow Shell oil drilling fleet in Seattle draws ire

BY PHUONG LE ASSOCIATED PRESS: 01/28/2015 9:43 PM: SEATTLE A plan to allow Royal Dutch Shell PLC to use Seattle’s waterfront as a homeport for its Arctic drilling fleet is drawing opposition from environmental groups that say it’s not consistent with the region’s environmental goals. Several state and national groups, and local city leaders on Wednesday urged […]

Obama moves to block development in 9.8 million acres of Arctic Ocean

Krestia DeGeorge,Nathaniel Herz: January 27, 2015 Citing biodiversity and Alaska Native subsistence whaling, the Obama administration moved to block development in 9.8 million acres within the Beaufort and Chukchi seas as part of a new five-year outer continental shelf oil and gas leasing program, the draft of which was released Tuesday morning by the Department of the […]

U.S. Seen Limiting Oil Drilling in Arctic, May Open Atlantic

26 JAN 2015 (Bloomberg) — The U.S. Interior Department will lay a framework as soon as Tuesday for oil exploration in the nation’s coastal waters in a five-year plan that is expected to withdraw areas off Alaska while possibly adding parts of the Atlantic. Republican Lisa Murkowski said the head of the offshore energy office […]

You are here Stakes are too high with Arctic drilling, and Shell isn’t ready

From an article by Lois Epstein published 21 Jan 2015 by Alaska Dispatch News Extracts Two years ago on New Year’s Eve, Shell’s Kulluk Arctic offshore drilling rig grounded near Kodiak Island. It was an industrial calamity heard around the world, including a cover story in the Jan. 4 issue of The New York Times […]

Blood in the water

Mergers offer a chance to cut costs and save money. Prices are low. BP, now fit, lean and cheap, is not best placed to go shopping itself. So it could be on someone else’s list. The oil giant’s troubles could make it a takeover target, especially if the price of crude keeps falling INVESTORS in […]

Exxon Mobil, Royal Dutch Shell, and Petrobras In Trouble?

By: MICHEAL KAUFMAN: Published: Jan 20, 2015 James Chanos is a renowned short-seller, hedge fund manager, and the founder of Kynikos Associates – an investment firm which specializes in short-selling. In an interview with CNBC last Friday, Mr. Chanos cited serious problems for some of the largest oil producers, leading him to short some major oil […]

The dramatic consequences of plunging oil prices

“Brent futures are set to fall to as low as $31 a barrel by the end of the first quarter from about $48 now.”; “People know these prices are unsustainable,” he said, and they will lead to large-scale layoffs and cuts in maintenance spending, which will eventually sharply reduce overall output. BP’s announcement of layoffs was […]

Detoxifying Shell’s online image: Possible or Impossible? 

By John Donovan  Royal Dutch Shell has appointed Possible as its global digital agency, starting with corporate brand work. Seems a safe assumption that one important aspect will be an attempt to detoxify the reputation of Shell, which has recently agreed to pay huge settlements of litigation arising from environmental pollution in Nigeria and the […]

Arctic Explorers Retreat From Hostile Waters With Oil Prices Low

From an article by Mikael Holter published 14 Jan 2015 by Bloomberg under the headline: “Arctic Explorers Retreat From Hostile Waters With Oil Prices Low” When Statoil ASA (STL) acquired the last of three licenses off Greenland’s west coast in January 2012, oil at more than $110 a barrel made exploring the iceberg-ridden waters an […]

BP To Cut Jobs And Capital Spending

Bidness Etc discusses the capital spending reduction and job cuts planned by BP for this year and the reasons for doing so. Future prospects of the oil giant are also looked upon By: MICHEAL KAUFMAN Published: Jan 8, 2015 at 8:56 am EST BP plc (ADR) (NYSE:BP) is looking to divest more assets in the […]

Shell’s disastrous foray into Arctic waters

From an article by Joel Connelly published 7 Jan 2015 by Seattlepi.com under the headline: “Will Port of Seattle be repair center for Shell Oil’s Arctic vessels? Extracts The Port of Seattle’s Terminal 5 is being proposed as a repair and service center for vessels engaged in Shell Oil’s troubled, delayed program to drill for […]

Shell Arctic debacle

Article by Jeremy Cresswell published by EnergyVoice.com on 6 Jan 2015 under the headline: “Noble Drilling has book thrown at it by Alaskan authorities” The paper stated: “So obviously, the safeguards in place to date have about as much teeth as a guppy. How do we know the repairs done truly take care of the problems […]

Outlook uncertain for Shell’s return to the Chukchi

By Yereth Rosen: 3 Jan 2015 Six years after dropping more than $2 billion on leases in the remote Chukchi Sea off northwestern Alaska, Shell has yet to drill into any oil in that icy frontier. Plans for an audacious offshore Arctic exploration program have been stymied by litigation and adverse court rulings and a […]

CEO Ben van Beurden finally endorses Shell Business Principles

By John Donovan After our long campaign for Ben van Beurden, the Chief Executive Officer of Royal Dutch Shell Plc, to sign Shell’s statement of General Business Principles, he has at last got round to doing so. I do not know what the reluctance was about, or why it took a year of cajoling on our […]

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