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Posts under ‘BBC News’

BP boss Bob Dudley: Oil prices ‘low for up to 3 years’

BBC News Article Published 21 Jan 2015 The boss of oil giant BP Bob Dudley has said that oil prices could remain low for up to three years. He added that could send UK petrol prices below £1 per litre. He told BBC Business editor Kamal Ahmed in Davos BP was planning for low oil […]

Oil crashes below $50 – Big Oil loses $200 billion

The meltdown in oil prices has wiped out more than $200 billion in market valuation among the 10 largest oil and natural gas companies in the S&P 500. To combat depressed prices, oil companies are hitting the brakes on spending and laying off workers. Investors are saying “enough.” They are dumping their energy stocks as the outlook […]

BP loses latest US oil spill appeal

The Supreme Court’s rejection of this appeal by BP is the latest in a series of setbacks for the oil firm. BP is trying to limit payments over the environmental disaster, which claimed the lives of 11 people and became the largest US offshore oil spill in history. The settlement agreement has no cap… BBC […]

Authorities likely to wave through a Shell BP merger

EXTRACTS FROM A FORBES.COM ARTICLE BY TIM WORSTALL PUBLISHED 6 DECEMBER 2014 If Royal Dutch Shell Buys BP Should The Authorities Ban The Purchase? There’s interesting (and fun!) rumors floating around the London market that Royal Dutch Shell might attempt to purchase BP. These sorts of mergers (or takeovers) aren’t unusual in a commodity business […]

OPEC IN DISARRAY AS OIL PRICE TUMBLES

Major Opec nations, Russia and US shale oil drillers now appear on the brink of a price war as these three giant producing blocs fight for a greater share of global demand. (Potentially disastrous news for Big Oil – ExxonMobil, Shell, BP, Chevron and Total) The Telegraph: World on brink of oil price war as Opec […]

Royal Dutch Shell News 23 Sept 2014

By John Donovan Nigeria FROM THE DAILY MAIL Shell has overhauled its security procedures in Nigeria to prevent oil theft that is costing it hundreds of millions of pounds. The Anglo-Dutch oil giant said it had stopped paying private security contractors to monitor its pipelines and oil facilities.  Carbon Pricing Forbes.com has published an article […]

Royal Dutch Shell sees ‘robust’ profits rise

BBC News article published 31 July 2014 Oil giant Royal Dutch Shell has described its performance as “robust” after its second-quarter profits more than doubled. Shell said profits for the period rose to $5.15bn (£3bn) from $2.39bn a year earlier. Stripping out the impact of one-off charges, underlying profits were still 33% higher at $6.13bn. […]

Fracking earthquakes

Extracts from a BBC News article by Matt McGrath published 3 July 2014 under the headline: Wastewater from energy extraction ‘trigger US quake surge’ Massive injections of wastewater from the oil and gas industry are likely to have triggered a sharp rise in earthquakes in the state of Oklahoma. Researchers say there has been a […]

Greenpeace Arctic Sunrise: Russia ‘frees protest ship’

Extract from a BBC News article published 6 June 2014 Russian authorities have released the Greenpeace ship seized after a protest against oil drilling in the Arctic last year, the environmental group says. The Arctic Sunrise, which had been held in the port of Murmansk, is back in the hands of campaigners, Greenpeace said. FULL […]

Explosions and fire at Dutch Shell plant

Extracts from a BBC News report 3 June 2014 – last updated 23.29 A large fire has broken out at a Shell chemical plant in the Netherlands following a series of explosions, reports say. Television footage showed flames and smoke pouring from the plant in Moerdijk, south of Rotterdam. It is not known if there […]

Shell issued with improvement notice after Nelson platform incident

BBC News report published 29 May 2014 Oil firm Shell has been issued with an improvement notice after an incident on a North Sea platform led to a partial downmanning of workers. It happened on the Nelson installation in March. The Health and Safety Executive (HSE) said Shell failed to ensure that a flexible hose […]