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Shell confirms 10,000 job cuts and a steep profits fall

Royal Dutch Shell has confirmed it is cutting 10,000 jobs amid its steepest fall in annual profits for 13 years. It made $1.8bn (£1.23bn) for the fourth quarter of the year, compared with a $4.2bn profit for the same period the year before. Full-year 2015 earnings, excluding identified items, were $10.7bn, compared with $22.6 billion […]

Oil prices in reverse amid Opec call

Oil prices tumbled again on Monday, eroding last week’s gains, as Opec called for co-operation from oil-producing nations outside the cartel. Brent crude fell 4.1% to $30.86 a barrel following a 10% rise on Friday, while US oil shed 4.7% to $30.68. The slide came as the head of Opec called for all oil-producing nations […]

Shell’s profits dive ahead of BG deal shareholder vote

20 JAN 2016 Royal Dutch Shell has reported a sharp drop in profits just a week before shareholders vote on its planned takeover of smaller rival BG Group. For the fourth quarter it expects profits of $1.6bn to $1.9bn, less than half the $4.2bn it made a year ago. It expects full year profits of […]

Shell the company most criticised by campaigners

Sunday 17 JAN 2016 German carmaker Volkswagen was one of the “most disliked” companies for pressure groups last year following its emissions scandal, a survey has found. Shell was the most criticised by campaigners, followed by Monsanto, which makes genetically modified food. Half of the top-10 most criticised companies on Sigwatch’s list were energy firms, […]

Share markets rattled as oil price slide continues

The main stock markets in London, Frankfurt and Paris sank by about 2%, tracking steep overnight losses on Wall Street and on Asian indexes. The Brent crude oil benchmark fell another 0.4% to $30.15 a barrel, having briefly drifted below $30. The pound hovered close to five-and-half-year lows against the dollar. The FTSE 100 index […]

Standard Life says it will vote against Shell BG tie-up

It said a weak outlook for oil prices plus risks for BG in Brazil could make the deal “value destructive for Shell shareholders.” Few investors or analysts have openly challenged the deal’s strategic benefits for the firm. Shell said it remained confident of winning the vote. A Shell spokesman said: “We continue to believe we […]

Oil price tumbles to below $33

Brent crude fell 4.7% while US West Texas Intermediate was down 3.9%. For US oil, that was its lowest point since touching $32.40 in December 2008 during the global financial crisis. But the price of Brent crude was seen falling to fresh 11-year lows. The last time Brent was so low was April 2004. Huge […]

US Gulf oil spill nearly ruined BP, says chief Bob Dudley

Saturday 2 Jan 2016 The giant oil spill from a BP rig off the US coast in 2010 nearly ruined the company, its chief executive has said. Bob Dudley described the fire on the Deepwater Horizon and its aftermath as “a near death experience” for the firm. It was one of the worst environmental disasters […]

Shell to face Nigeria oil spill lawsuit

A Dutch judge has ruled that a court in the Netherlands should hear a case against Royal Dutch Shell brought by four Nigerian farmers. The farmers and fishermen want Shell to clean up oil spills in four villages in the Niger Delta and pay compensation. The latest ruling overturns a decision that was made two […]

Royal Dutch Shell plans 2,800 extra job cuts after BG deal

Royal Dutch Shell has said it will cut 2,800 jobs if its planned takeover of BG Group goes ahead, about 3% of the combined group’s workforce. The proposed job cuts are in addition to the 7,500 job losses Shell announced in July. The tie-up between Shell and BG deal is due to be completed early […]

11 December 2015 The oil price has fallen to a new seven-year low after the International Energy Agency (IEA) forecast a slowdown in growth in demand for oil. The price of Brent crude oil fell below $39 a barrel at one point, its lowest since December 2008. The IEA said demand in the current quarter […]

UK government carbon capture £1bn grant dropped

A Shell spokesman said: “Shell is disappointed at the withdrawal of funding for the CCS Commercialisation Competition… 25 November 2015 The UK government has announced it is axing a £1bn grant for developing new carbon capture and storage (CCS) technology. Peterhead power station and the White Rose scheme in North Yorkshire were the bidders in […]

Shell charged over Gannet Alpha leak in 2011

Friday 20 November 2015 Oil giant Shell has been charged after an investigation into a leak at a North Sea platform in 2011, the BBC Scotland news website has learned. It involved the Gannet Alpha platform, 113 miles (180km) from Aberdeen. It was reported that the pipeline leaked more than 200 tonnes of oil. The […]

US curbs Arctic offshore oil and gas drilling

The US government has announced new curbs on oil and gas exploration in Arctic waters off Alaska’s northern coast. It comes after oil giant Royal Dutch Shell last month stopped its Arctic activity citing “disappointing” tests. The US interior department said it was cancelling two potential Arctic offshore lease sales and would not extend current […]

Alaska mulls extra oil drilling to cope with climate change

By Matt McGrath: Environment correspondent, BBC News, Alaska: 12 Oct 2015 Expanding the search for oil is necessary to pay for the damage caused by climate change, the Governor of Alaska has told the BBC. The state is suffering significant climate impacts from rising seas forcing the relocation of remote villages. Governor Bill Walker says that […]

Nigeria’s ex-oil minister ‘arrested in London’

…one of five people as part of an investigation into suspected bribery and money laundering. $20bn of oil money had gone missing… 2 Oct 2015 Nigeria’s former oil minister Diezani Alison-Madueke has been arrested in London, her family has said. She is believed to be one of five people the UK National Crime Agency said […]

Shell has made a costly call to abandon Alaska

Kamal Ahmed: Business editor: 28 Sept 2015 It could have been Hillary Clinton’s tweet that did it. Just after the US government had given the go-ahead for Shell to restart its exploration in Alaska, the Democratic presidential candidate took to the social media site. “The Arctic is a unique treasure,” Mrs Clinton said on Twitter. “Given […]

Shell will not sanction Arctic exploration until at least 2020

Kamal Ahmed: Business editor: 17 Sept 2015 As it moves, gingerly, through the first stages of exploration 70 miles off the Alaskan coast, Royal Dutch Shell has revealed its commitment to drilling in the Arctic. And how long it will be before any oil or gas actually comes out of the ground – if at all. […]

Volatile’ oil price hard to predict, says Shell boss

Royal Dutch Shell chief executive Ben van Beurden has told the BBC a recovery in the price of oil is hard to foresee. “It is a very, very volatile business in terms of supply and demand. The oil price responds to very small mismatches between supply and demand,” he told BBC Radio 4’s Today programme. […]

Shell gets final permit for Arctic oil drilling

Oil and gas giant Shell has been granted the final permit it needs to begin drilling below the ocean floor for oil in the Arctic. Shell began work last month, but was allowed to drill just the top sections of two wells, off the coast of Alaska. Environmental campaigners are against the drilling which they […]

Shell Arctic drilling ‘risky’ – ex-BP boss Lord Browne

By Roger Harrabin: BBC environment analyst: 12 August 2015 Drilling for oil in the Arctic may harm Shell’s reputation and cost it dear, the former BP boss Lord Browne has said. Shell has just started preliminary drilling in Alaska’s Chukchi Sea after several setbacks. The firm’s CEO Ben van Beurden said he had gone on […]

US Coast Guard ends Shell icebreaker bridge protest

Environmental activists have been removed from a bridge in Portland, Oregon, allowing an icebreaker to join a US Arctic oil-drilling operation. Police lowered the Greenpeace campaigners dangling on ropes from St John’s Bridge into boats, while the Coast Guard cleared dozens of kayaks. The icebreaker, chartered by Royal Dutch Shell, had been prevented from leaving […]

Royal Dutch Shell to cut 6,500 jobs

Oil giant Royal Dutch Shell has announced it is to shed 6,500 jobs as part of cost cutting plans. 30 July 2015 The company said the cost cutting was to help “mitigate the impact” on profits amidst a drop in oil prices. Its “prudent approach” included a reduction in operating costs of $4bn and reduced oil […]

Shell to move to new shift pattern

Written by Harriet Brace – 28/07/2015 8:06 am A major oil firm has confirmed its offshore workers will be the latest to move over to a new three weeks on shift pattern. Oil giant Shell today confirmed the company will be moving to the new working pattern for offshore employees. Offshore workers at Shell are […]

Shell cleared to lift Brent Delta topside in one go

Worlds biggest ship, Pioneering Spirit, formerly a Nazi named vessel, the Pieter Schelte, is cleared to lift Brent Delta topside in one go 7 July 2015 Oil giant Shell is to press ahead with plans to remove the topside of the Brent Delta platform in a single lift after its decommissioning project was cleared by the UK […]

Shell Arctic oil drilling to commence within weeks

…if the initial wells do not find oil, Shell will contemplate walking away from the region entirely. By Richard Anderson: Business reporter, BBC News: 3 July 2015 Oil and gas giant Shell is expected to begin drilling for oil in the Arctic within the next two weeks. Thirty ships left Dutch Harbor in Alaska on Thursday […]

Oil giant Shell fined over Brent Bravo leak

Oil giant Shell fined over Brent Bravo leak Oil giant Shell has been fined thousands of pounds after a diesel leak on board a North Sea platform. Between 13 and 15 tonnes spilled into the sea from the Brent Bravo, 116 miles north east of Lerwick, in May 2013. Senior management from Shell were at […]

UK fracking application rejected

An application to start fracking at a site on the Fylde coast in Lancashire has been rejected by councillors. Energy firm Cuadrilla wanted to extract shale gas at the Little Plumpton site between Preston and Blackpool. Lancashire County Council rejected the bid on the grounds of “unacceptable noise impact” and the “adverse urbanising effect on […]

Gearing up for the big lift in the North Sea

Extracts How do you go about removing a massive piece of infrastructure from a hostile environment like the North Sea? Oil giant Shell has come up with one answer which could be put to the test next year – using a mega-ship to remove the topside of an oil platform in a single lift. The […]

Offshore decommissioning ‘a new beginning for North Sea industry’

Offshore decommissioning ‘a new beginning for North Sea industry’ Brent Delta is among the most iconic platforms By Ken Banks: BBC Scotland North East reporter As a growing number of North Sea oil and gas fields head towards the end of their production lives, industry leaders are waking up to the challenges – and opportunities – […]

Climate change a serious security threat, warns Obama

President Obama has called climate change “a serious threat to global security” and heavily criticised climate change deniers. In his strongest remarks on the issue yet, Mr Obama said climate change would “impact every country on the planet”. The US president made his comments in a speech to students at the Coast Guard Academy in […]

Salym Shell development in Siberia

By Olga Ivshina, BBC News, Western Siberia, published 27 Nov 2014 under the headline: Russian oil industry facing deep freeze Without visiting a well in Western Siberia, you would never realise just how hard it is to extract oil in Russia. Two hours’ drive from the nearest village of Salym, the snow banks are huge and […]

Another nail in the coffin of tar sands

BBC NEWS: Obama vetoes Keystone oil pipeline bill: 24 Feb 2015 US President Barack Obama has vetoed a bill that would have approved construction of the Keystone XL oil pipeline. The Republican-led Congress sent the bill to the president on Tuesday. White House spokesman Josh Earnest said Obama vetoed the bill “without any drama or […]

Oil and gas industry in ‘bleak’ 2014, finds survey

FROM A BBC ARTICLE PUBLISHED 24 FEB 2015 Oil and gas industry in ‘bleak’ 2014, finds survey The UK offshore oil and gas industry has reported its worst annual performance for four decades. Industry body Oil & Gas UK said falling oil prices and rising costs meant the sector spent and invested £5.3bn more than […]

Shell’s Arctic Dilemma

CONTRIBUTOR COMMENT In the context of BvB’s comments about the Arctic, it is perhaps worth noting that in the absence of an intention to pursue their Arctic prospects, Shell would be obliged to write off/write down their past expenditure… And that would have resulted in a very miserable result for 2014. The problem has at least been […]

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 […]

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 […]

Shell, the Brunei Royal Family and Sharia Law

His Majesty the Sultan of Brunei meeting Malcolm (TFA) Brinded, Shell’s then Executive Director, Upstream International By John Donovan There may be some relief by Muslim employees of Shell Brunei at the news that “Brunei has postponed the introduction of tough Islamic criminal punishments that were due to begin on Tuesday.” Fortunately for Shell, the […]

‘Orphan’ oil wells warning for fracking

By James Morgan Science reporter, BBC News 24 March 2014 Plans to expand shale gas “fracking” in the UK must learn from leaks and poor monitoring at existing onshore oil and gas sites, scientists say. A review of 2,152 wells drilled from 1902-2013 found up to 100 “orphaned” wells for which no firm is responsible. […]

Ex Shell chief economist Vince Cable says ‘no-one needs to earn £1m a year’

Extracts from a BBC News article published 15 March 2014 under the headline: Vince Cable says ‘no-one needs to earn £1m a year’ Business Secretary Vince Cable has said he does not understand why people need to earn £1m per year. “I’ve asked one or two of the more sympathetic bankers to explain it to […]

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