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Posts under ‘Alaska’

Shell forfeits Arctic leases once worth $2b

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Screen Shot 2016-05-10 at 08.42.36By Liz Ruskin, APRN: May 10, 2016

Shell is giving back all but one of its leases in the Chukchi Sea.

The announcement comes seven months after Shell said it was halting exploration in Alaska’s offshore Arctic for the foreseeable future.

Gov. Bill Walker calls the news “disappointing.”

Michael LeVine, Pacific senior counsel for the conservation group Oceana, says the lease-surrenders underscore Shell’s exit.

“They’re significant because they really call to an end this era of exploration, at least in the Chukchi Sea,” he said. read more

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

Shell’s fleet of ancient rust buckets fit only for the scrapyard

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By John Donovan

In June 2015, I published an article by a regular contributor about the notorious Noble Discoverer, one of two drill ships used by Shell in their notorious offshore Alaska drilling campaign.

The insider described Shell’s fleet of five vessels sent into Arctic waters as ancient rust buckets fit only for the scrapyard.  

Apparently an entirely appropriate assessment, as I understand from a different source that the Noble Discover may well be on her way now to the infamous Alang shipbreaker yards in India. read more

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

Big Oil Abandons $2.5 Billion in U.S. Arctic Drilling Rights

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Screen Shot 2016-05-10 at 08.42.36Jennifer A Dlouhy: May 10, 2016

Drillers forfeit millions of acres amid slump in oil prices

Royal Dutch Shell still holding on to one lease in Chukchi Sea

After plunking down more than $2.5 billion for drilling rights in U.S. Arctic waters, Royal Dutch Shell, ConocoPhillips and other companies have quietly relinquished claims they once hoped would net the next big oil discovery.

The pullout comes as crude oil prices have plummeted to less than half their June 2014 levels, forcing oil companies to slash spending. For Shell and ConocoPhillips, the decision to abandon Arctic acreage was formalized just before a May 1 due date to pay the U.S. government millions of dollars in rent to keep holdings in the Chukchi Sea north of Alaska. read more

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

Shell gives up on all but one Chukchi Sea lease

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Screen Shot 2016-05-10 at 08.42.36Shell gives up on all but one Chukchi Sea lease

Yereth Rosen: Alaska Dispatch News: May 9, 2016

Royal Dutch Shell has decided to give up all but one of its federal offshore leases in the Chukchi Sea, bringing what appears to be an anticlimactic end to its multibillion-dollar effort to turn those icy Arctic waters off northwestern Alaska into a new oil-producing frontier.

“After extensive consideration and evaluation, we have made the decision to relinquish all but one of our federal offshore leases in Alaska’s Chukchi Sea. This action is consistent with our earlier decision not to explore offshore Alaska for the foreseeable future,” company spokesman Curtis Smith said in an email on Monday. read more

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

Not-so-Big Oil

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May 7th 2016

IT HAS been a grim decade for investors in international oil firms—among them, many of the world’s biggest pension funds. Even before oil prices started to fall in 2014, the supermajors threw money away on grandiose schemes: drilling in the Arctic and building giant gas terminals. Their returns have trailed those of other industry-leading firms by a huge margin since 2009.

In the past 18 months things have gone from bad to worse. The Boston Consulting Group, a consultancy, calls it the industry’s “worst peacetime crisis”. That is evident in first-quarter results released in the past week by Exxon Mobil and Chevron of America, and European rivals, Royal Dutch Shell, BP and Total, which bear the scars of a collapse in oil prices to below $30 a barrel in mid-February (see chart). read more

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

Eyes on Doha

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By Ed Crooks: April 15, 2016

All eyes in the oil market this weekend will be on Sunday’s meeting in Doha, which will bring together leading producers including Russia and most – although perhaps not all – of the members of Opec. Expectations that the countries will agree to freeze production, encouraged this week by statements from Russian and Iraqi representatives, have helped drive Brent crude prices up more than 60 per cent from about $27 per barrel in January to around $44 today.  The heads of some of the world’s largest trading houses have concluded that for oil producers, the worst is probably now over. read more

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

Shell is streamlining its operations in Malaysia and Norway following its merger with BG Group

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By Micheal Kaufman on Apr 6, 2016

Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has shipped a cargo of Bintulu condensate from Malaysia to New Orleans, Louisiana, Reuters reported citing a trade source familiar with the matter. This is the first time that the US is importing this type of a condensate from Malaysia.

According to news sources, the Polaris, vessel containing 200,000 barrels of the offshore oil produced by the Malaysian state oil giant, Petronas, left the Malaysian terminal in February. The tanker stopped at Singaporean port, before heading towards Louisiana. read more

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

Shell’s belligerent partner, Russia

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Extracts from an article by Kyle Mizokami published by THE WEEK: 29 MARCH 2016

Russia is staking its claim to the Arctic and is being more than a little unreasonable about it. In 2007 Russian robotic submarines planted the national flag under the North Pole. Russia claims the North Pole on the grounds that the Lomonosov Ridge, an extension of Russia’s continental shelf territory, passes underneath the pole.

Russia is preparing to back its claims up, too: As of 2015, it had established six new bases north of the Arctic Circle, including 16 deepwater ports and 13 airfields. Russia has deployed advanced S-400 long-range surface-to-air missiles, as well as “Bastion” supersonic anti-ship missiles, to protect Arctic bases. The vastness of the Arctic means these weapons don’t threaten other countries, but they do create fortified bases that will allow Russia to springboard ships, planes, and Arctic-trained troops into contested territory. read more

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

Shell worries about climate change, but decides to continue making it worse

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Screen Shot 2016-02-17 at 08.47.47By Katie Herzog on 14 Mar 2016

Shell Oil released its 2015 annual review last week, and the most surprising thing in it may be how concerned the company is with climate change. It’s hardly what you’d expect from Big Oil, and yet the words “climate change” occur 15 times in the 228 page report. While this may seem minor, it’s a hell of a lot more than climate change is discussed by most other oil monsters (Looking at you, Exxon). Shell, unlike many oil giants, actively acknowledges and even embraces climate action — at least, on paper. “It was encouraging to see governments reach a global climate agreement in Paris in December,” the report reads. “The agreement should now encourage countries to develop policies that balance environmental concerns with enabling a decent quality of life for more people.” read more

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

Should Shell have looked west for its Arctic Ocean fortune?

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That’s the hypothesis of David Houseknecht, one of the region’s foremost geologists and project chief for the U.S. Geological Survey’s Energy Resources Program for Alaska.

Other experts say the idea helps explain why public well results and rock chips have shown a large amount of gas in the reservoir but limited evidence of oil. Unlike Alaska politicians who jumped at the chance to blame federal regulations for Shell’s decision to abandon the Arctic, the scientists say the answer is simply a matter of geology — the oil just wasn’t there in big volumes.   read more

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

Time to End ‘Blood Oil’ Disaster in the Niger Delta

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By Richard SteinerProfessor and conservation biologist, Oasis Earth (www.oasis-earth.com): 10 MARCH 2016

The Niger Delta’s legendary “blood oil” disaster has persisted for decades, and is now deepening. Oil in the Delta fuels a dangerous mix of environmental devastation, a violent militancy that has killed thousands, human rights abuses, corporate greed and exploitation, epidemic corruption, massive oil theft, sabotage, repression, poverty, anger and despair. It is time to put an end to this ongoing atrocity, once and for all.

The 30,000 square mile Niger Delta — including rich coastal waters, islands, mangroves swamps, and rainforests — was once one of the most productive and diverse ecological habitats on Earth. But today, after 60 years of oil extraction, the region’s environment and society are devastated — a textbook example of the “oil curse.

The Delta is arguably the most severely oil-damaged environment anywhere in the world. A decade ago, our team of scientists conducting an oil damage assessment in the Delta estimated that each year, some 250,000 barrels (10 million gallons) of oil spill there, an amount comparable to that of the 1989 Exxon Valdez spill in Alaska — each year for 50 years. Oil operations have also caused extensive habitat degradation from road building, forest clearing, dredging and filling, thousands miles of pipelines, and chronic pollution from gas flaring and drilling wastes. read more

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

An oilman’s $7 billion refresher course in the economics of drilling and climate change

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To many analysts, it looked like Odum was pushed into leaving.

Steven Mufson March 11, 2016

Marvin Odum, president of Shell Oil, was attending a meeting of the parent company’s executive committee in Singapore when word trickled in that an exploration well drilled in Alaska’s Chukchi Sea — the crowning step in a multi-year $7 billion quest — was a dry hole.

Maybe not bone dry. In a recent interview, Odum wouldn’t say. But in the oil business glossary, a dry hole is one that can’t pay off commercially, and Shell’s hole definitely qualified. The parent company, Royal Dutch Shell, abruptly dropped any further drilling — a setback for the industry, though a relief for environmentalists.

For years, they had fought a vigorous, litigious and politically intense battle over the Chukchi. Meanwhile Shell, lured by potentially rich rewards, had overcome a couple of embarrassing rig mishaps at sea and patiently navigated the courts and the Obama administration’s permitting process. Now, geology had rendered its verdict. read more

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

Shell faces fresh Nigeria pollution claims in London

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By FP: PUBLISHED: 3:55, 2 March 2016

Oil giant Royal Dutch Shell came under renewed scrutiny on Wednesday over its environmental record in Nigeria after lawyers brought fresh claims of damage caused by spills to a London court.

British legal firm Leigh Day has filed two cases at the High Court in a bid to force the Anglo-Dutch energy major to clean up damage caused in the communities of Ogale and Bille in the Niger Delta, Nigeria’s main oil-producing region, and provide compensation.

In Bille, the lawyers hope to prove that Shell is liable for failing to protect its pipelines from damage caused by third parties, which, they said, could mark a “significant expansion” in the firm’s liability. read more

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

Marvin FINALLY got called out for his incompetence

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Marvin FINALLY got called out for his incompetence.

His presiding over the disasters in the Arctic and in the $40 billion shale misadventure finally caught up with him as all those who took the fall earlier had gone and BvB finally saw him as the liability he was.

That was why he was ‘moved’ into the departure lounge position in the first place.

I cannot think of a single executive offhand who willingly got off the gravy train before their time regardless of what Corporates press writers spin. read more

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

Woodside Appoints Former Shell Senior Executive Ann Pickard as Director

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Monday, February 29, 2016

Woodside Petroleum Ltd. announced Monday that its Board has appointed Ann Pickard as a non-executive director effective Feb. 29. Pickard joins Woodside as an independent director.

Woodside Chairman Michael Chaney said that Pickard had significant international business experience.

“The directors are delighted that we have been able to attract a person of Ms Pickard’s background and experience to the company’s Board,” Chaney said.

On Feb. 1 Pickard retired from Royal Dutch Shell plc, where she held numerous positions during her 15-year tenure with the company. Before her retirement from Shell, Pickard served as executive vice president, Arctic and was responsible for Shell’s Arctic exploration efforts. This followed three years as Executive Vice President of Shell’s Exploration and Production business and Country Chair of Shell in Australia, and five years as Executive Vice President, Africa. Pickard joined Shell in 2000 after an 11-year tenure with Mobil prior to its merger with Exxon. read more

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

The Allure Of Shale Is Wearing Off

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Screen Shot 2016-02-17 at 08.47.47By Nick CunninghamThu, 25 February 2016

Royal Dutch Shell revealed its plans to downgrade its emphasis on expensive shale operations, although it was not worded in those terms.

The Anglo-Dutch supermajor says that it would fold its “unconventional” unit (i.e. shale) into its broader upstream business. Shell also announced that Mavin Odum, long-time top official from the North American arm of Royal Dutch Shell, will retire after more than three decades at the company.

The two announcements are consistent with Shell’s decision to takeover BG, which was a large bet on LNG and offshore oil plays, particularly in Brazil and Australia. It is also evidence that Shell is deemphasizing its attention and resources on North America, where it has placed several costly bets that have soured. In 2013, Shell cancelled plans to build a $20 billion gas-to-liquids plant in Louisiana. In 2014, Shell sold off shale acreage in Texas, Colorado, and Kansas, according to Reuters, while also divesting itself of Pennsylvania and Louisiana shale gas assets. read more

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