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Posts under ‘BP’

No Shell Arctic Oil Until 2030’s

By: MICHEAL KAUFMAN: Published: May 26, 2015  Royal Dutch Shell Plc’s (ADR) (NYSE:RDS.A) head of oil and gas production in Americas, Marvin Odum has told the Financial Times (FT) in an interview that the company’s Arctic drilling operations would take at least a decade to extract oil reserves, which would then be sent to production. The […]

Big Data In Big Oil: How Shell Uses Analytics To Drive Business Success

By Bernard Marr:  26 May 2015 The oil and gas industries are facing major challenges – the costs of extraction are rising and the turbulent state of international politics adds to the difficulties of exploration and drilling for new reserves. In the face of big problems, its key players are turning to Big Data in the hope […]

Oil company bosses’ bonuses linked to $1tn spending on extracting fossil fuels

Bosses at the world’s big five oil companies have been showered with bonus payouts linked to a $1tn (£650bn) crescendo of spending on fossil fuel exploration and extraction over nine years, according to Guardian analysis of company reports. FULL ARTICLE Like this:Like Loading…

Out to Stop Shell’s Giant Oil Rig

Extracts from a Rolling Stone article by ANTONIA JUHASZ published 22 May 2015 Meet the Rappers and ‘Kayaktivists’ Out to Stop Shell’s Giant Oil Rig …several hundred people trying to disrupt business as usual for the world’s largest oil company… Their target, Royal Dutch Shell’s 400-foot-long, 300-foot-tall offshore oil rig, dubbed the Polar Pioneer, was just out […]

Royal Dutch Shell, BP plc Oppose New European Oil Trading Regulations

By: MICHEAL KAUFMAN: Published: May 21, 2015  Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has sided with oil rival BP plc (ADR) (NYSE:BP) in calling on European regulators to step back from enforcing tougher new capital requirements and increased disclosure measures pertaining to oil trading. The Markets in Financial Instruments Directive or Mifid II regulations are being […]

Oil Price Fixing

FROM A REGULAR CONTRIBUTOR Campaigns by or on behalf of Shell It’s interesting that we have campaigns (one fronted by BP, but backed by Shell, and the other fronted by Shell’s lawyers, de Brauw) which will have the effect of avoiding regulation of oil trading activities, and will also decriminalise fraud for companies in Holland. […]

Shell joins BP in calls against excessive oil trading regulation

May 20 2015 | By: Carl Surran, SA News Editor Shell joins BP in calls against excessive oil trading regulation Royal Dutch Shell (RDS.A, RDS.B) joins BP in calling on European regulators to refrain from imposing stricter capital requirements and greater disclosure measures on oil trading. Regulators would achieve undesired effects if companies and trading […]

Environmentalists score a little discussed big win in Arctic drilling plans

May 19 2015, 14:48 ET | By: Carl Surran, SA News Editor Environmentalists score a little discussed big win in Arctic drilling plans Environmentalists angered by the Obama administration’s approval of Royal Dutch Shell’s (RDS.A, RDS.B) broad plan for boring exploratory oil wells in the Chukchi Sea seem to have overlooked that they scored a […]

Energy groups ax $100B in total spending after oil rout

Article by: Carl Surran, SA News Editor, Seeking Alpha: 18 May 2015 Energy groups ax $100B in total spending after oil rout More than $100B of spending on at least 26 major projects by the world’s energy companies has been slowed, postponed or canceled in the wake of plunging oil prices, including Royal Dutch Shell […]

Oil Company Spooks: BP Appoints Britain’s Former Chief Spy to Board

14 MAY 2015 BP Plc, the former state-owned oil company with operations from Russia to Iraq, appointed the retired chief of Britain’s overseas spying network as a board member. John Sawers was head of the MI6 service until November 2014. Oil company involvement with spies is nothing new.  On 17 June 2001, The Sunday Times published […]

Shell braves a return to its Arctic ordeals: But, with oil at such a low price, why now?

By LAURA CHESTERS FOR THE DAILY MAIL: 13 May 2015 New Year’s Eve 2012 is a date Lieutenant Commander Jim Cooley will never forget. As part of the rescue team from the US Coast Guard he flew out in treacherous, stormy conditions to rescue 18 men aboard Royal Dutch Shell’s stranded Kulluk oil rig. Earlier that […]

Shell cuts 2015 capex, sees downstream downturn

Shell cuts 2015 capex, sees downstream downturn London (Platts)–30 Apr 2015 * Capex reduced by more than $2 billion * Decision on Majnoon development pushed back to 2017 * CFO says refining margins already worsening Shell said Thursday it had reduced its expected 2015 capital expenditure to $33 billion from previous guidance of a little […]

Shell profits beat expectations on refining boost

Shell profits beat expectations on refining boost: Business | Thu Apr 30, 2015 7:26am BST (Reuters) – Royal Dutch Shell on Thursday reported a lower than expected 56 percent drop in first quarter net income at $3.2 billion (2 billion pounds), as refining and trading profits offset a decline in earnings from oil and gas […]

Shell’s Shocking Share of the Groningen Earthquake Costs

Shell’s Shocking Share of the Groningen Earthquake Costs By a Regular Contributor The Dutch government does not seem to be very pleased with Shell: it’s action to reverse the burden of proof in Groningen cases seems to imply that Shell cannot be trusted… For each of the 250,000 potential claimants to take Shell to court […]

Can Shell Afford To Drill In The Arctic?

By Charles Kennedy: Wed, 29 April 2015 How can Shell possibly finance the purchase of BG? Royal Dutch Shell is set to report its first quarter earnings, and by all accounts, it will be a doozy. Analysts predict a 60 percent decline in earnings from a year earlier, including a massive 7 percent fall in production. […]

Shell Accused Of Misleading Its Shareholders About The Risks Of Arctic Drilling

BY ELISE SHULMAN — GUEST CONTRIBUTOR POSTED 29 APRIL 2015 on thinkprogress.org Shell Accused Of Misleading Its Shareholders About The Risks Of Arctic Drilling If Royal Dutch Shell’s Arctic drilling program leads to a major spill, it could cost the oil company — and therefore its shareholders — an entire year’s worth of profit, according […]

US CLASS ACTION LAWSUIT AGAINST SHELL AND OTHERS FOR OIL PRICE FIXING

(NOW UPDATED WITH 98 PAGE DOCUMENT FILED 24 APRIL 2015 WITH THE U.S. COURTS) A 194 page Complaint filed in the US Courts two months ago confirms that investigations are underway by the U.S. Federal Trade Commission, the EU Commission and the UK Serious Fraud Office into an alleged oil price-fixing conspiracy involving Shell, BP, […]

Fat cat bosses enjoy a £350,000 pay rise with Royal Dutch Shell chief the top earner on £19.5m

EXTRACTS FROM MIRROR NEWSPAPER ARTICLE: 29 APRIL 2015 Fat cat bosses enjoy a £350,000 pay rise with Royal Dutch Shell chief the top earner on £19.5m Fat-cat bosses at Britain’s biggest firms saw their pay and perks surge by an average of £350,000 last year. Topping the list from the group is Royal Dutch Shell […]

UK warns off BP suitors now Shell unavailable as ‘white knight’

LONDON, APRIL 27 | BY DMITRY ZHDANNIKOV AND WILLIAM JAMES UK warns off BP suitors now Shell unavailable as ‘white knight’ (Reuters) – Britain’s warning to potential suitors of BP is a sign of the oil major’s vulnerability to a takeover bid and that a more politically palatable tie-up with Royal Dutch Shell no longer […]

BG Deal to Test Shell’s Integration Skills

Article by JUSTIN SCHECK And SARAH KENT published April 26, 2015 by The Wall Street Journal BG Deal to Test Shell’s Integration Skills LONDON—With its $70 billion deal to buy BG Group PLC, Royal Dutch Shell PLC will attempt something altogether new for the 108-year-old energy giant: absorbing a huge company. FULL ARTICLE Like this:Like Loading…

UK government would oppose any takeover of BP says FT

UK government would oppose any takeover of BP -FT (Reuters) – Britain’s outgoing government has told BP Plc that it wants the company to remain a British industrial champion and it would oppose any takeover of the oil producer, the Financial Times reported. The message follows the $70 billion deal to acquire rival producer BG […]

Earnings slide at BP and Royal Dutch Shell as oil giants slash spending

By LAURA CHESTERS FOR THE DAILY MAIL: 27 April 2015 Crude oil prices hit a 2015 high this month but it is not enough to prevent disastrous first quarter results from BP and Royal Dutch Shell this week. The price of oil is still well below last summer’s highs of $115 a barrel at around $65 […]

FT: UK government warns BP over potential takeover

An article by George Parker and Christopher Adams published 26 April 2015 by The Financial Times UK government warns BP over potential takeover Amid wider consolidation in the energy sector, triggered by the sharp fall in oil prices, Downing Street has informed BP and senior City figures that it wants the group to remain a British […]

Predators circle with BP still stuck in deep water

By Nick Fletcher published Sunday 26 April 2015 by The Observer/Guardian Predators circle with BP still stuck in deep water Meanwhile, BP could also be put on the spot about its commitment to being more open about its impact on climate change, after 98% of shareholders at its recent annual meeting called for more transparency. The company agreed […]

Oil firms face further cuts as low prices linger

Oil firms face further cuts as low prices linger Commodities | Fri Apr 24, 2015 12:23pm BST * Big oil using spending cuts to increase efficiency * Q1 earnings set to drop by more than 50 pct, tracking oil price * Strong refining margins set to continue By Ron Bousso LONDON, April 24 (Reuters) – […]

How The Majors Are Playing The Oil Price Slump

Article by Nick Cunningham published 22 April 2015 by OilPrice.com How The Majors Are Playing The Oil Price Slump The largest oil and gas companies are employing different strategies to weather the downturn and plan for the future. Each strategy has its risks, and not all may work out. Which companies will emerge stronger after […]

Shell, Exxon set the scene for future oil-price shock after $US114 billion cuts

Article by Bradley Olson published 22 April 2015 by The Sydney Morning Herald Shell, Exxon set the scene for future oil-price shock after $US114 billion cuts As the oil patch grows accustomed to a new world of $US50 to $US60 crude, it’s now looking ahead to a different but equally daunting sort of cliff. Oil companies […]

BP Readies Defenses as Oil Industry Responds to Shell’s BG Raid

Article by Rakteem Katakey, Matthew Campbell and Dinesh Nair published 21 April 2015 by Bloomberg.com As the oil industry takes stock of Royal Dutch Shell Plc’s $70 billion move for BG Group Plc, one company has more to chew on than most. BP Plc, the U.K.’s most storied oil producer and prime mover in previous rounds of consolidation, is […]

BP, Shell ship Canada crude cargoes from Texas to Europe: ClipperData

(Reuters) – BP Plc and Royal Dutch Shell each have shipped cargoes of Canadian crude oil out of the Texas coast this month, according to industry firm ClipperData, highlighting a once-rare journey that is expected to become more common. The two Aframax tankers loaded from Enterprise Products Partners LP’s export terminal in Freeport, Texas, according to the […]

What the BP Oil Disaster Tells Us About Arctic Drilling: Keep Out!

BY CAROL BROWNER AND MICHAEL CONATHAN 4/20/15 Five years ago today, an explosion on board the oil rig Deepwater Horizon killed 11 men and unleashed one of the largest and costliest offshore oil disaster this nation has ever experienced. By the end of 2014, BP, the company primarily responsible for the disaster, estimated the overall […]

‘Big Oil’ poring over troubled waters

‘Big Oil’ poring over troubled waters By Mark Robinson, 17 April 2015 The severity of crude oil’s collapse meant that its effects were always likely to be felt far beyond petrol station forecourts. Reduced assumptions on future pricing convinced oil and gas majors, already given over to renewed capital discipline, to also accelerate the reduction in […]

Shell Said to Hire Barclays to Arrange $15 Billion BG Loan

Article by Stephen Morris published 17 April 2015 by Bloomberg.com Royal Dutch Shell Plc hired Barclays Plc to help arrange a 10 billion pound ($15 billion) loan to help fund its purchase of BG Group Plc, two people with knowledge of the matter said. The short-term bridge facility will replace an existing 3 billion-pound loan provided […]

Total, BP say feel no M&A pressures after Shell deal

PARIS/LONDON | BY MICHEL ROSE AND DMITRY ZHDANNIKOV: Thursday 16 April 2015 (Reuters) – French oil major Total (TOTF.PA) and British rival BP (BP.L) are under no pressure to make acquisitions after the recent takeover of BG Group by Anglo-Dutch rival Shell (RDSa.L), they said on Thursday. Royal Dutch Shell (RDSa.L) unveiled plans last week […]

The Exxon Mobil-BP Merger Rumor That Just Won’t Go Away

SeekingAlpha.com article by Dave Dierking published 15 April 2015 The Exxon Mobil-BP Merger Rumor That Just Won’t Go Away Summary The rumors of the viability of an Exxon Mobil-BP merger surfaced once again recently following the Royal Dutch Shell-BG merger. Exxon Mobil could be compelled to make such a transaction due to BP’s relatively inexpensive […]

Oil CEO Wages Immune to Price Slump as Shareholders Vote on Pay

Article by Rakteem Katakey published 15 April 2015 by Bloomberg.com Ben van Beurden, Chief Executive Officer of Royal Dutch Shell Plc, pauses as the company announce their fourth-quarter results in London on Jan. 29. Photographer: Chris Ratcliffe/Bloomberg Oil’s plunge has forced the world’s biggest energy producers to lay off workers and stall projects. Their chief executive […]

Shell to Sell 25% Of Its UK Petrol Stations

By: MICHEAL KAUFMAN: Published: Apr 14, 2015 at 8:11 am EST Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has agreed to sell 25%, or 185, of its petrol stations in the UK. The sale of the petrol stations is part of the company’s cost-cutting strategy amid the declining crude oil price. Another strategy of the company is […]

Bold Bens Big Bet

By John Donovan On Friday afternoon, a contributor posted a comment on our Shell Blog under the headline: “Bold Bens Big Bet” Very bold of Ben van Beurden. Most courageous Shell leader for many a year. Still many pitfalls, as can be seen in some of the most recent articles about the BG takeover. Not […]

Shell standing above its peers

Article by Daniel J. Graeber published 13 April 2015 by UPI Shell standing above its peers LONDON, April 13 (UPI) — Shell’s grab of energy giant BG Group and a legal victory for frontier work offshore Alaska leaves rivals in the dust, though environmentalist are unimpressed. The board of directors at Shell and BG group issued […]

Oil price down, coffers full: now Big Petroleum is in the mood for mergers

The energy sector looks set for a round of mergers and acquisitions. Illustration: David Simonds for the Observer The world of Big Oil looks set for another round of mega-mergers and acquisitions after Shell set the ball rolling this week with its $70bn agreement to take over BG. FULL ARTICLE Like this:Like Loading…

BP left stranded by US vilification as rejuvenated Shell storms ahead

Article by Jeremy Warner published 12 April 2015 by The Sunday Telegraph  BP left stranded by US vilification as rejuvenated Shell storms ahead They say that fortune favours the brave. Ben van Beurden (right), chief executive of Royal Dutch Shell, will be hoping they are right, for by firing the starting gun on a new wave of oil […]