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Posts under ‘BP’

The Oil Price Tug Of War

By Tom Kool – Aug 15, 2017, 3:00 PM CDT

Oil prices remain in a game of tug of war as conflicting news sends both the bears and the bulls to the sidelines.

• In 2015, the U.S. spent the least on energy in over a decade, largely due to the collapse of oil prices.

• In real terms, the U.S. spent $1.27 trillion on energy in 2015, down 20 percent from a year earlier.

• In inflation-adjusted terms, as well as in terms of percentage of GDP, the expenditures were the lowest since 2004.

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Big Oil Follows Silicon Valley Into Backing Green Energy Firms

Major oil companies are joining Silicon Valley in backing energy-technology start-ups, a signal that that those with the deepest pockets in the industry are casting around for a new strategy. From Royal Dutch Shell Plc to Total SA and Exxon Mobil Corp., the biggest investor-owned oil companies are dribbling money into ventures probing the edge of energy technologies. The investments go beyond wind and solar power into projects that improve electricity grids and brew new fuels from renewable resources. read more

Shell Prepares For A Different Energy Reality

: 14 August 2017

Summary

  • This summer has seen the governments of several of the world’s major economies propose to eliminate internal combustion engine vehicles over the next 10-30 years.
  • At the same time, Royal Dutch Shell announced several major clean energy investments over the summer in anticipation of a drop-off in petroleum demand.
  • This article looks at how Shell’s clean energy investments fit into its energy profile forecasts compared to its peers. MAIN ARTICLE
  • read more

    Shell and BP’s commitment to North Sea oil ‘rock solid’

    Ben van Beurden, chief executive of Shell, has signalled that he too is once again viewing the North Sea as an investment opportunity, despite selling more than half of the group’s UK production to Chrysaor, a small UK company backed by US private equity funds, for up to $3.8bn in January. Last month, Mr van Beurden identified the Penguins field in the northern North Sea as among a handful of projects around the world that Shell would consider giving the green light to in the next 18 months. FULL FT ARTICLE read more

    The Secret Behind Better Oil Major Earnings

    By Gregory Brew – Aug 02, 2017, 6:00 PM CDT

    After several years of austerity and belt-tightening, the major international oil companies posted substantial profits in Q2 of 2017. The five largest private oil companies together generated more than $30 billion in profit, an indication that most have successfully adapted to the current bout of low prices, while a few have publicly indicated their belief that prices will hover around $50 for the foreseeable future.

    What this means is that the “mega projects” that dominated many companies’ balance sheets for the last decade will become increasingly rare, as the majors pivot towards short-term, low-risk ventures with a faster turnaround. read more

    BP and Shell face huge challenge from switch to electric cars

    Emily Gosden, Energy Editor: 31 July 2017

    Oil investors are getting worried. Electric cars have accelerated on to the front pages. Sales are surging, carmakers are unveiling plans for all-electric models and this week Britain vowed to ban sales of petrol and diesel cars by 2040. Yet if Big Oil believes that death is about to pull up in a Tesla, it’s doing a good job of hiding it. On Thursday, Ben van Beurden, the boss of Royal Dutch Shell, welcomed Britain’s plans and declared that his next car would be electric. And earlier in the year Spencer Dale, BP’s chief economist, bluntly described the arrival of electric vehicles on the oil majors’ lawn as “not a game-changer”, adding that not even “enormous” growth in sales of such vehicles would make a big dent in global oil demand. As Big Oil evolves into Big Energy, the sight of Mr van Beurden behind the wheel of an electric vehicle might not seem so crazy, so long as he’s charging it up on a Shell forecourt. read more

    EU warns U.S. it may respond swiftly to counter new sanctions on Russia

    Alissa de Carbonnel: 26 July 2017

    BRUSSELS (Reuters) – The European Union warned on Wednesday that it was ready to act within days to counter proposed new U.S. sanctions on Russia, saying they would harm the bloc’s energy security.

    Sanctions legislation overwhelmingly approved by the U.S. House of Representatives on Tuesday has angered EU officials…

    FULL ARTICLE

    After false dawn, Big Oil to double down on cost cuts

    The majors, often dubbed Big Oil, have already been through tough spending cuts since a collapse in crude prices since mid-2014 from above $100. They have shed thousands of jobs, scrapped projects, sold assets and squeezed service costs.

    FULL ARTICLE

    Oil Thieves Force Nigerian Pumping Station To Shutter

    Oil thieves are bringing Nigerian crude oil pumping stations to their knees, according to a new report from World Oil.

    FULL ARTICLE

    Shell News 17 July 2017

    Shell to operate fast charging at selected Shell stations in the Netherlands and in the United Kingdom: Automotive World: 17 July 2017 read more

    PRELUDE FLNG; A CASE OF ADDING FUEL TO THE FIRE

    By Bill Campbell – Retired HSE Group Auditor, Shell International

    The physics of fire is readily explained by the simple fire triangle where the constituents needed to be available for fire to begin and persist are a heat source, oxygen and a combustible fuel.

    In our industry in 1988 and later in the Gulf of Mexico and offshore India were witnessed catastrophic happenings where an escalating hydrocarbon event could not be curtailed, went out of control and escalated because of the abundance of fuel in massive amounts, mainly gas.

    The abundance of fuel on an offshore installation, or on a London Tower building, housing hundreds of people, raises the risk to persons occupying these facilities significantly.  Risk is not just the probability of a fire starting but the potential consequences of that fire should it start and take hold.     read more

    Shell News 11 July 2017

    Energy transition chatter should go beyond Western viewpoints, says Shell CEO: International Business Times: 11 July 2017

    Discussions over the global energy mix and the transition to a low carbon global economy should not only focus on Western perspectives, according to Royal Dutch Shell’s chief executive officer Ben van Beurden. READ MORE

    Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands: Bloomberg: 11 July 2017

    Shell is studying developing a global network of liquefied natural gas supply hubs for vehicles including ships, Steve Hill, executive vice president for gas and energy marketing and trading, said Monday at the World Petroleum Congress in Istanbul. READ MORE

    Oil majors among top contributors to greenhouse emissions, report says: EnergyVoice.com: 11 July 2017

    More than half of global industrial emissions can be traced back to just 25 corporate and state producing entities, the report says. China, India and Russia’s coal industries and major oil and gas players like Saudi Aramco, Gazprom, ExxonMobil, BP and Shell are among those named in the paper from CDP, formerly the Carbon Disclosure Project. READ MORE read more

    Shell News Update 8 July 2017

    It’s a world of worry for oil companies: Houston Chronicle: 8 July 2017

    Some oil companies have made moves to brace for a future in which oil plays a diminishing role. Many are increasing investments in the production of natural gas, the fuel of choice for generating electricity, and some are investing in renewables. BP, for example, operates a wind farm in West Texas. In June, Royal Dutch Shell announced it plans to acquire MP2 Energy…  Read More

    Nigeria Delta Communities Demand Stake in Ex-Shell Oil Block: Bloomberg: 8 July 2017

    A group of communities in Nigeria’s Niger River delta demanded a stake in an oil block it said it was promised when Royal Dutch Shell Plc sold its share to a local company six years ago. Read More read more

    Shell News Update 27 June 2017

    Shell CEO, board of directors visit Beaver County: The Times: 27 June 2017

    The chief executive officer and a majority of the board of directors of Royal Dutch Shell were in Beaver County Monday to view the ethane cracker plant site, but also to talk to local leaders about their experiences with the $6 billion project.

    Shell in clean energy race: The Business Times: 27 June 017

    ROYAL Dutch Shell aims to be a leader in clean energy and sees an opportunity in using its global presence and established brand to scale up the new energies business quickly as and when. The second largest-publicly traded oil company in the world also plans on establishing itself across the full value chain of renewables and alternative energies as it has done for oil, said a senior executive in the firm. read more

    Shell Money Laundering for Saudi Arabia

    Once again the conspiracy involved a shadowy man associated with Shell, said to be an MI6 agent. Not John Copleston or Guy Colgate of OPL 245 fame, but a spy from an earlier generation of British spooks – Stephan Kock – reportedly responsible for ordering assassinations.

    By John Donovan

    As has been widely reported, Shell and former/current senior managers up to executive director level face criminal charges in connection with the OPL 245 corruption scandal. Apart from other issues, Shell is accused of money laundering along with Eni. If found guilty, there is no prospect of Shell reducing any penalty by pleading it’s a first offence, because that is not the case. 

    In the 1980’s, Shell and BP played a money-laundering role in the Al-Yamamah project generating slush funds associated with Saudi arms contracts which helped to fund terrorism and corruption, including massive bribes to Saudi royals by the main contractor, BAe Systems. read more

    Shell in the firing line over boss pay

    Jillian Ambrose

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