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Posts under ‘Bloomberg’

Only one in five global shale basins may succeed, Wood Mackenzie says

Extract from an article by James Paton published 8 April 2014 by WorldOil.com PERTH, Australia (Bloomberg) — Only one in five global shale regions may succeed in producing significant amounts of oil and gas as countries from China to Argentina seek to emulate the U.S. boom, said energy consultants Wood Mackenzie. Oil companies from Shell […]

Shell Rushed Rig to Arctic Sea to Avoid Alaska Tax: U.S.

Article by Jim Snyder published Apr 4, 2014 5:00 AM GMT+0100 by Bloomberg News A desire to avoid millions of dollars in Alaska state taxes played a role in Royal Dutch Shell Plc (RDSA)’s decision to move a drilling rig, which later broke free from a tow boat and ran aground on an uninhabited island […]

Norway Warns Oil Companies Against ‘Unacceptable’ Project Delays

Extract from an article by Mikael Holter published 2 April 2014 by Bloomberg News Norway, western Europe’s biggest oil and gas producer, warned companies that “unacceptable” delays to offshore projects risk damaging the goodwill they currently enjoy from the government. Oil companies from Statoil ASA (STL) to Royal Dutch Shell Plc (RDSA) are cutting investment […]

Phillips 66, Shell Purchase Majority of U.S. Reserve Oil Sale

Extracts from an article by Dan Murtaugh published 17 March 2014 by BloombergBusinessweek Phillips 66 and Royal Dutch Shell Plc walked away with about 3.3 million barrels of the 5 million that the Energy Department sold in what will be the first release from the U.S. Strategic Petroleum Reserve since 2012. Phillips 66 purchased 2.04 […]

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 Americas Spending by 20%, Extends Refinery Sales

Extracts from an article by Eduard Gismatullin published on 13 March 2014 by Bloomberg News Royal Dutch Shell Plc (RDSA) plans to lower spending in the Americas by a fifth as Europe’s largest oil producer focuses on more profitable operations. It’s “not acceptable” that Shell, now deploying about 36 percent or $80 billion of its […]

Ukraine Crisis Endangers Black Sea Gas Drilling

Extracts from an article Stephen Bierman published on 10 March 2014 by Bloomberg News Before violent protests in Kiev overthrew pro-Moscow President Viktor Yanukovych and Russian troops occupied parts of Crimea, a group including Exxon and Royal Dutch Shell Plc (RDSA) planned to spend $735 million drilling two wells about 50 miles (80 kilometers) from […]

Pioneer Flourishes in U.S. Shale Fields Where Shell Floundered

Extract from an article by Joe Carroll published 10 March 2014 by Bloomberg News Pioneer Natural Resources Co. (PXD), the top energy stock in the S&P 500 last year, is tripling drilling in shale fields as international energy explorers five times its size recoil from losses on the U.S. oil renaissance. Pioneer’s wildcatting bucks the […]

Arctic Oil Still Seen Decades Away as Producers Balk at Costs

Extracts from an article published by Bloomberg News 23 Feb 2014 Lundin Petroleum AB (LUPE), the Swedish explorer focused on Norway, said there won’t be any oil production in the ice-filled waters of the Arctic for at least 15 years because of technical and logistical challenges. Royal Dutch Shell Plc. (RDSA), Europe’s biggest oil company, […]

Woodside CEO Seeks Shell Exit Decision on $6.6 Billion Stake

Extract from Bloomberg News article by James Paton Feb 20, 2014 5:53 AM GMT Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, pressed Royal Dutch Shell Plc (RDSA) to take action on its A$7.3 billion ($6.6 billion) stake in the company, saying investors want “certainty.”  Shell’s move to accelerate asset sales to free […]

Glencore-Macquarie Said to Exit Race for Shell Australia Assets

By Brett Foley, Andy Hoffman and Jesse Riseborough: February 12, 2014 Macquarie Group Ltd. (MQG) and Glencore Xstrata Plc (GLEN) dropped out of bidding for Royal Dutch Shell Plc (RDSA)’s Australian oil refinery and filling stations, according to four people with knowledge of the matter. The assets Shell is selling include storage terminals, filling stations […]

Shell halts work on Pierre River oil sands mine in northern Alberta

Jeff Lewis | February 12, 2014 5:18 PM ET CALGARY – Royal Dutch Shell PLC told regulators it is halting work on its Pierre River mine in northern Alberta’s oil sands and that it has no idea when it may revive the blueprints. The Hague-based company this year cancelled plans to drill in Alaska’s Arctic and […]

BP Fourth-Quarter Profit Drops

By Brian Swint February 04, 2014 BP follows Royal Dutch Shell Plc (RDSA) and Exxon Mobil Corp., the two biggest oil companies by market value, in reporting lower earnings as the cost of drilling rises, refining profits slump and oil prices stagnate. Shell and BG Group Plc (BG/) both issued profit warnings for the fourth […]

Argentina Accuses Shell of Conspiracy After Price Increase

Royal Dutch Shell Plc’s Argentine unit was accused of conspiring against the country’s interests by Cabinet Chief Jorge Capitanich after the oil producer increased fuel prices following a devaluation of the peso. “Shell’s attitude and the one from its highest executive is conspiratorial and against the interests of the country,” Capitanich told reporters this morning […]