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Posts under ‘BP’

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 […]

New Sea Drilling Rule Planned, 5 Years After BP Oil Spill

Article by CORAL DAVENPORT published APRIL 10, 2015 by The New York Times New Sea Drilling Rule Planned, 5 Years After BP Oil Spill WASHINGTON — The Obama administration is planning to impose a major new regulation on offshore oil and gas drilling to try to prevent the kind of explosions that caused the catastrophic BP […]

Following the Shell-BG deal, could Exxon bid for BP?

Article by Jim Armitage published by The Independent on Friday 10 April 2015 Following the Shell-BG deal, could Exxon bid for BP? Another day, another tide of speculation sweeps through the City investment banks about oil industry takeovers following Shell’s £47 billion bid for BG, the UK’s third largest energy supplier. Even that old saw […]

Royal Dutch Shell plc Shareholders Express Concern Over Dividends After BG Group Merger

By: MICHEAL KAUFMAN: Published: Apr 10, 2015 at 9:39 am EST A $70 billion merger deal between Royal Dutch Shell plc (ADR) (NYSE:RDS.A) and BG Group plc (ADR) (OTCMKTS: BRGYY) was finalized earlier during the week. Shell had paid a premium of 50% on BG Group’s share price on April 9. Many have commended the efforts […]

Shell’s Huge Gas Bet Underscores Big Oil’s Push to Replace Coal

Article by Javier Blas and Rakteem Katakey published 10 April 2015 by Bloomberg.com BP Plc coined the slogan “Beyond Petroleum.” The new industry mantra might be “Beyond Oil and Into Gas.” Oh, and while we’re at it, “Down With Coal.” Consider Royal Dutch Shell Plc’s recent $70 billion acquisition of BG Group Plc — clearly a huge bet […]

Shell sounds starting gun for more mergers in big oil

By ALEX BRUMMER FOR THE DAILY MAIL After all the fuss over the appointment and fat cat pay for Helge Lund, the new chief executive of BG, one must wonder why chairman Andrew Gould bothered. Just weeks after Lund took the reins, assets were written down by £6bn and Gould found himself in cloak and […]

Future of BP as independent company thrown into doubt by Shell’s takeover of BG

By PETER CAMPBELL FOR THE DAILY MAIL Future of BP as independent company thrown into doubt by Shell’s takeover of BG The future of BP as an independent company was thrown into doubt yesterday as analysts said BG’s takeover will prompt a wave of consolidation in the struggling sector. Firms across the industry have been […]

Could Shell-BG Deal Revive Exxon-BP Merger?

By: MICHEAL KAUFMAN: Published: Apr 9, 2015 at 8:05 am EST Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has announced an agreement to acquire UK-based BG Group plc (ADR) (OTCMKTS:BRGYY) in a massive $70 billion deal. It is one of the biggest merger and acquisition deals in the oil sector for over a decade, and could become […]

Who’s next?

Extracts from an article by Sean Farrell and Julia Kollewe published by The Guardian, 8 April 2015, under the headline: Shell’s BG takeover has oil industry asking who’s next “Only Exxon has the flexibility to do big-ticket deals like BG Group. In contrast, Total, Eni and Statoil will have to content themselves with the pick ’n’ […]

Exxon, BP in Deal Spotlight After Shell Buys BG Group

Article by Tara Lachapelle and Brooke Sutherland published 8 April 2015 by Bloomberg.com Now that Royal Dutch Shell Plc has made its move for BG Group Plc, Exxon Mobil Corp. and BP Plc could contemplate deals — perhaps even with each other. Speculation of an Exxon-BP combination surfaced last year after oil prices declined sharply, increasing the appeal […]

Shell-BG Deal Puts Pressure on Big Oil to Consolidate Again

Article by Javier Blas: 12:47 PM BST April 8, 2015 published by Bloomberg.com In the words of Royal Dutch Shell Plc’s boss, the fundamental logic behind his decision to buy BG Group Plc “always existed.” What pushed the $70 billion deal over the finish line was that it had become “very compelling from a value perspective” […]

Shell Will Buy BG for $70 Billion in Push for Gas Dominance

by Javier BlasRakteem Katakey for Bloomberg.com Royal Dutch Shell Plc agreed to buy BG Group Plc for about 47 billion pounds ($70 billion), making Europe’s largest oil company the pre-eminent player in global natural gas and adding fields in Brazil. The deal, the industry’s biggest in at least a decade, will push Shell further into producing, […]

Shell seeking to buy BG in first oil super-merger in over a decade

The collapse in global oil prices has sparked much speculation about mergers in the industry and BG has often been cited as a potential target. (Reuters) – Royal Dutch Shell (RDSa.L) is in advanced talks to buy BG Group (BG.L) in the first oil super-merger in more than a decade, seeking to extend its lead […]

Royal Dutch Shell in Talks for BG Group, a Gas Producer

Article by STANLEY REED and MICHAEL J. de la MERCED PUBLISHED APRIL 8, 2015 BY THE NEW YORK TIMES Royal Dutch Shell in Talks for BG Group, a Gas Producer “That calculus could change if Shell and BG merge. A deal of this size could inspire some wavering would-be sellers to pursue deals. Advisers say that they […]

Why we all should care about the oil platform explosion that just happened in Mexico

This image, one of several that were made available to Greenpeace by anonymous workers, shows smoke and fire on the shallow-water Abkatun, a permanent platform in the Campeche Sound in the Gulf of Mexico. Early Wednesday morning the Pemex oil platform, Abkatun Alpha blew up off the West coast of the Yucatan peninsula. The explosion […]

Can Iran Attract Foreign Investments By Oil Majors Such As BP And Shell plc?

By: MICHEAL KAUFMAN: Published: Apr 1, 2015 at 8:34 am EST Recently, Iran has been exposed to numerous sanctions by the West over concerns that the country was developing a nuclear project. However, talks between the US and Iran have started over a new nuclear deal. If the deal is successful, then sanctions are expected to […]

Iran riches coveted by big oil after decades of conflict

Extracts from a Bloomberg article published 31 March 2015 Iran riches coveted by big oil after decades of conflict Now, as Iran and the US enter 11th hour negotiations to reach a nuclear deal and ease sanctions, the West Asian country is emerging again as a potential prize for western oil companies such as BP, […]

CAN SHELL SAFELY DRILL IN THE ARCTIC?

By: MICHEAL KAUFMAN Published: Mar 30, 2015 at 10:40 am EST Shell Oil Company, subsidiary of multinational oil giant Royal Dutch Shell Plc (ADR) (NYSE:RDS), is conducting drilling tests in Bellingham, Washington, ahead of potential regulatory approval for drilling in the Arctic. According to media reports, government officials in Washington are observing Shell’s oil spill […]

How Shell, BP, And Total SA, Can Profit From The Oil Price Crash

By: MICHEAL KAUFMAN: Published: Mar 30, 2015 at 9:26 am EST Despite largely unfavorable movement in crude oil price during the recent months, some of Europe’s biggest oil companies are finding support from trading desks as they face a prolonged slump, which has seen oil price hit six-year lows. In the three years before the summer […]

Shell to cut more UK North Sea jobs in 2015

Thursday 26 March 2015 (Reuters) – Royal Dutch Shell (RDSa.L) is planning further job cuts in its UK North Sea oil and gas business in 2015, the company said on Thursday, just a week after a package of tax cuts from the Treasury aimed at encouraging growth in the industry. “Shell UK plans to reduce […]

Royal Dutch Shell cuts IT contractor pay rates by 15%: Accept or face termination!

An article published 25 March 2015 by ContractorUK.com under the headline: Royal Dutch Shell cuts IT contractor pay rates Royal Dutch Shell has reduced pay for IT contractors, telling such temporary technology workers to lower their rates by 15% or face termination. The Angel-Dutch oil giant told ContractorUK that current market volatility has made the […]

UK Government must defend against big oil and mining dirty tricks

UK Government must defend against big oil and mining dirty tricks Oil and mining bodies together with companies such as BP and Royal Dutch Shell have drafted industry compliance guidelines that weaken the impact of new UK anti-corruption laws. 21st March 2015 Anti-corruption campaigners urge the UK Government to divorce itself from industry guidelines that […]

Why The Oil Price Could Fall Even Further

From an article by Prabhat Sakya published 24 March 2015 by The Motley Fool under the headline: BP plc And Royal Dutch Shell plc: Why The Oil Price Could Fall Even Further The oil price has fallen dramatically since last summer. This has meant difficult times for the oil producers, including companies such as BP and […]

A sad situation in Rhodesia 50 yrs ago: Even worse now. 

Robert Mugabe was a “key player” campaigning against the white settler regime in Rhodesia nearly 50 years ago, and remains the key player today, but considerably richer.  Some of this information, including the anti-Apartheid poster, comes from “A History of Royal Dutch Shell Volume 3.  Like this:Like Loading…

Shell oil drilling in Arctic set to get US government permission

From an article by Terry Macalister published by the Guardian on Sunday 22 March 2015: Shell oil drilling in Arctic set to get US government permission The US government is expected this week to give the go-ahead to a controversial plan by Shell to restart drilling for oil in the Arctic. The green light from Sally Jewell, the […]