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Posts under ‘BP’

Exxon Mobil Corporation, Chevron Corporation, BP And Royal Dutch Shell Face Challenging Dividend Environment

Bidness Etc sheds light on the challenges for companies like Exxon, Chevron, BP, Royal Dutch Shell, and Total SA in sustaining dividend payouts amidst depressed crude oil prices By: MICHEAL KAUFMAN: Sep 1, 2015  Crude prices have dropped more than 50% since the highs of June last year, following weak Chinese demand and a global supply […]

Discussing the costs of disaster for offshore US oil : Regulation and Environment

In this week’s Oilgram News column, Regulation and Environment, Gary Gentile asks if the risks associated with ultra-deepwater oil production endeavors are properly disclosed to shareholders. By Gary Gentile | August 31, 2015 Opponents of offshore drilling in frontier environments, such as the Arctic, have opened up a new front in their effort to curtail such […]

President Obama Defends Shell Arctic Drilling Decision

By: MICHEAL KAUFMAN: Aug 29, 2015  Critics argue that allowing Shell to explore Arctic for oil goes against the country’s stance on climate change President Obama has defended his decision to grant approval for drilling in the Arctic region, ahead of his trip to Alaska. Royal Dutch Shell plc (ADR) (NYSE:RDS.A) had been seeking the […]

Shell offshore drilling application prompts conflict-of-interest charge

By Charles Mandel | August 29th 2015 Shell Canada Limited is applying to bring offshore drilling to Nova Scotia’s waters. But environmentalists are raising alarm bells over potential conflict of interest, as the group reviewing Shell’s application — the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) — includes a board member who worked at Shell Canada and […]

Why Royal Dutch Shell plc Is Facing Resistance In Canada

By: MICHEAL KAUFMAN: Aug 28, 2015  Royal Dutch Shell plc’s (ADR) (NYSE:RDS.A) drilling in Canada will be coming in for resistance, as reported by the Guardian. The drilling plan in Nova Scotia’s southern shore has been approved by the country’s Environment Minister and is under the Canada-Nova Scotia Offshore Petroleum Board’s review. The Canadian Environment Ministry […]

Market Rout

Oil’s slump has been brutal. More than half a trillion dollars of value has been wiped from the five biggest international oil companies — Exxon, Shell, Chevron, Total and BP — since mid-June last year. Rakteem Katakey: August 26, 2015: BLOOMBERG.COM Shares of the largest oil companies have slumped so low it suggests investors expect […]

Oil at rock bottom: Is your portfolio at risk?

Among individual oil producers, the biggest on the market is Royal Dutch Shell, and its share price has unsurprisingly performed terribly in the last year. The shares have fallen 36 per cent since last August… by Annabelle Williams: 26 August 2015 Shares in energy companies have plummeted – should investors be buying? OIL PRICES have fallen […]

INTERVIEW-Shell eyes Iran, to pay debt when sanctions end

TEHRAN | BY GUY FAULCONBRIDGE: Mon Aug, 2015 Aug 24 Royal Dutch Shell will repay a $2 billion debt to the National Iranian Oil Company (NIOC) when sanctions on Iran are lifted and will consider investing in the country’s vast energy sector, Shell’s boss for new business said. Much would depend on the terms offered […]

Iran to Raise Oil Output ‘at Any Cost’ to Defend Market Share

U.S. benchmark West Texas Intermediate crude fell to less than $40 a barrel for the first time in more than six years in New York trading on Friday. Anthony Dipaola and Hashem Kalantari: BLOOMBERG.COM: 23 AUGUST 2015 Iran plans to raise oil production “at any cost” to defend the country’s market share and joins calls for […]

Oil slump highlights pressure on dividend payouts

Extracts from an article by Garry White: 22 Aug 2015 Some in the City are concerned that distributions to shareholders at some major dividend payers are too high. This is particularly true for the oil sector. • Opec is being eaten alive and needs to meet to heal its wounds • Low oil prices bite as […]

Oil Companies Sit on Hands at Auction for Leases

By CLIFFORD KRAUSS: AUG. 20, 2015 PAGE B1 IN NEW YORK EDITION HOUSTON — With oil prices collapsing and companies in retrenchment, a federal auction in the Gulf of Mexico on Wednesday attracted the lowest interest from producers since 1986. It was the clearest sign yet that the fortunes of oil companies are skidding so fast […]

BVB Personal Journey? Was it to a bank or a casino?

By John Donovan Royal Dutch Shell CEO Ben van Beurden claims that he has been on a personal journey in relation to authorising Shell’s latest Arctic gamble. All due credit for the courage needed to take such a huge risk. The same applies to Shell’s takeover of the BG Group and the alliance with the corrupt […]

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 […]

BP plc and Royal Dutch Shell Plc Will Have To Survive Without $100 Oil

By Harvey Jones – Tuesday, 11 August, 2015 Low oil prices have sunk share prices at BP (LSE: BP) and Royal Dutch Shell (LSE: RDSB) and there is no sign of immediate respite. There was a flicker of hope as Brent crude climbed to nearly $68 a barrel in May, but it has now slid below $50 again, and […]

To please investors, Big Oil makes deepest cuts in a generation

August 7, 2015 Oil companies are making the largest cost cuts in a generation to reassure investors. They’re risking their own future growth. From Chevron Corp to Royal Dutch Shell, producers are firing thousands of workers and cancelling investments to defend their dividends. Cutbacks across the industry total $US180 billion so far this year, the most […]

Chevron Corporation, Royal Dutch Shell Plc & Other Oil Co.s Have Lost $1.3 Trillion Since Last Year

By: MICHEAL KAUFMAN: Aug 5, 2015 As the global benchmark of crude, Brent currently hovers around $50 per barrel. Meanwhile, the oil and gas industry has lost $1.30 trillion of its value this year, and this eroded value equals the annual gross domestic product (GDP) of Mexico. The combined market capitalization of 157 listed oil and […]

Inside Shell’s Extreme Plan to Drill for Oil in the Arctic

by Paul Barrett and Benjamin Elgin: 5 August 2015: BLOOMBERG.COM Protesters near the Polar Pioneer.: Photographer: Keri Coles/Greenpeace In a windowless conference room in Anchorage, a dozen Royal Dutch Shell employees report on the highest-profile oil project in the multinational’s vast global portfolio. Warmed by mid-July temperatures, Arctic ice in the Chukchi Sea, northwest of the Alaskan mainland, […]

Oil Companies Spending Cuts Unlikely to Be Enough

LONDON–The world’s biggest oil company’s have vowed to bring down the costs of big projects in the face of slumping oil prices, but the unrelenting price weakness–with crude below $50 a barrel–suggests they could have to dig deeper still. In the past year, as oil prices plunged 60% from highs of $114 in 2014, U.K. […]

Oil companies’ grim outlook weigh on investors’ sentiment

By Bloomberg | 4 August 2015 NEW YORK: The world’s biggest oil companies are painting a grim picture of the future and speculators are listening. Hedge funds reduced bullish bets to the lowest level in five years as oil capped the worst month since the financial crisis. The net-long position in West Texas Intermediate contracted 7 […]

August Off To A Shaky Start For Oil Markets

By Evan Kelly: Tue, 04 August 2015 August started off on a dour note for crude oil, with prices tanking by around 5 percent on August 3. A slew of negative news from around the world weighed on prices. The Greek stock market plummeted on the first day of trading after being closed for five weeks. […]

Shell to Strengthen Russian Hand Through Gazprom Asset Swap

by Rakteem Katakey: August 3, 2015: BLOOMBERG.COM Royal Dutch Shell Plc will swap a stake in one of its international energy assets for part of Gazprom PJSC’s Sakhalin-3 project as Europe’s biggest oil company extends ties with Russia. The companies are discussing which asset would be offered to Gazprom, Shell Chief Executive Officer Ben Van Beurden […]

Shell to dispose of its downstream assets and business completely?

A report in The Times today describes the plans for Shell Centre development: London waterfront to take on new look with Italian backing On the face of it it raises the question as to why, given the movement of the centre of gravity in Royal Dutch Shell to The Netherlands, RDS would want to hold […]

Shell to Cut 6,500 Jobs, Reduce Investment by $7 Billion

By Rakteem Katakey: July 30, 2015″ BLOOMBERG.COM Royal Dutch Shell Plc, the oil producer buying BG Group Plc for more than $70 billion, said it plans to cut 6,500 jobs this year and reduce capital investment by $7 billion. Shell is planning for a “prolonged downturn,” the company said Thursday in a statement. Its dividend commitment […]

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 […]

Big oil to sharpen focus on costs after $200bn of cuts

Europe’s biggest oil companies have to find deeper cuts as oil prices expected to weigh on earnings By Andrew Critchlow, Commodities editor: 27 July 2015 Three of Europe’s biggest oil companies will report weaker earnings this week and the City is looking for guidance on how to mitigate a sustained slump in Brent crude prices […]

British energy giants set to axe costs in a bid to cope with falling gas and oil prices

BG could reveal a 75 per cent fall in profit to £200million By LAURA CHESTERS FOR THE DAILY MAIL: 26 July 2015 The falling price of oil and gas continues to take its toll on energy firms as British Gas-owner Centrica, BP and Royal Dutch Shell are set to reveal increased cost cutting to cope. The […]

Iran releases list of oil money debtors

The oil major Royal Dutch Shell owes Tehran $2.8 billion while it made a net loss of $6 million trading Iranian oil in 2012. TEHRAN, Jul. 26 (MNA) – Iran’s Central Bank and National Oil Company released the list of companies and refineries owing oil dues to Iran. During the period US and European sanctions […]

Shell’s Arctic Drilling Adventure Is a Disaster Waiting to Happen

By Rebecca Leber: 15 July 2015 This month may mark the end of a decade-long saga that’s highlighted the lengths to which oil companies will go to drill in the Arctic—and the huge risks such endeavors entail. If everything goes according to plan, Royal Dutch Shell will soon bury its first drill bit into the […]

Shell to drop ‘Oil’ from its name? Um, no.

By Tony Dokoupil: 15 July 2015 It seemed like a hopeful sign of the times: News that Shell Oil might soon drop the word “oil” from its name. British Petroleum made a similar move not long ago, rechristening itself as BP, a company with a vision “beyond petroleum.” But alas, Shell is not changing its name. […]

Shell Arctic Screw Part 2: Fennica Mishap, Negligence or Torpedoed by Greenpeace?

Shell Arctic Screw Part 2: Fennica Mishap, Negligence, or Torpedoed by Greenpeace? FROM A REGULAR CONTRIBUTOR The significance of the damage to the Fennica is made clear in the article below. It is carrying the “Capping Stack” which is required in order for drilling to proceed. A capping stack is an auxiliary blow out preventer […]

After Settlement, Relief at a Diminished BP

By STANLEY REED and CLIFFORD KRAUSS JULY 2, 2015 LONDON — BP’s future no longer has a giant cloud ahead. But it will take years, if not decades, for the company to approach its size of five years ago, before the explosion of the Deepwater Horizon rig. Since the 2010 blowout of the Macondo well killed […]

BP has finally settled Deepwater Horizon Case

Shares in oil giant BP climb on news it has finally settled long-running US court case over Deepwater Horizon explosion and oil spill Dudley dismissed market talk of a takeover of BP and said BP is ‘neither prey nor predator’. A clause in the settlement with the US means that if BP were sold to another […]

BP to pay £12bn for Gulf oil spill

2 July 2015 BP has reached an $18.7bn (£12bn) settlement with the US Department of Justice (DoJ) following the 2010 Gulf of Mexico oil spill. It comes as a US federal judge was expected to rule on how much BP owed in Clean Water Act penalties following the environmental disaster. Over 125 million gallons of […]

BP Pays Record $18.7 Billion to Settle Claims in Gulf Oil Spill

By Margaret Cronin Fisk, Laurel Brubaker Calkins and Del Quentin Wilber: July 2, 2015 1:13 PM BST BP Plc will pay a record $18.7 billion to resolve claims by the U.S. and five states along the Gulf of Mexico related to the 2010 oil spill. The payments will be spaced out over as long as […]

Arctic Drilling Future Now Rests On One Well

By Charles Kennedy: Wed, 01 July 2015 Royal Dutch Shell is nearing a start to drilling in the Arctic, but has run into some hiccups. The U.S. government decided that Shell cannot actually drill both of its wells in the Chukchi Sea as planned. The Interior Department said that doing so would run afoul of its […]

How the European Oil Industry Decided to Save the Climate

By Javier Blas: June 23, 2015 By the time the convention chat turned into action, Royal Dutch Shell Plc, BP Plc, Total SA, Eni SpA, Statoil ASA and BG Group Plc published an unprecedented open letter on climate change. Breaking with their biggest U.S. competitors, they announced their support for efforts to put a cost […]

Shell Cleared For Exploration Off Nova Scotia

By Andy Tully: Posted on Wed, 17 June 2015 Shell Canada Ltd. is ready to begin exploratory drilling off the coast of Nova Scotia now that it has received conditional approval for the project from the country’s environmental minister. Canada’s Environmental Assessment Agency issued the decision the night of June 15 after the environmental minister, Leona […]

As Shell moves toward Arctic, industry decries regulations

Article by Jennifer A. Dlouhy published June 16, 2015 by The Houston Chronicle As Shell moves toward Arctic, industry decries regulations Industry leaders and allies in Congress say red tape will discourage Arctic exploration WASHINGTON – Even as Shell Oil Co. gets closer to drilling new exploratory wells in Alaska’s Chukchi Sea, industry leaders and their congressional […]

Iran Welcomes Shell, BP, Total and American Oil Companies

Iran Welcomes Shell, BP, Total and American Oil Companies Dr. Majid Rafizadeh Become a fan: President of the International American Council: 14 June 2015 “Royal Dutch Shell PLC, which owes the Islamic Republic an outstanding debt of more than $2 billion, has been talking about repaying Iran after the nuclear deal is signed, and consequently the […]

U.S. Ousts Russia as Top World Oil, Gas Producer

Article by Rakteem Katakey published 10 June 2015 by Bloomberg.com The U.S. has taken Russia’s crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields. U.S. oil production rose to a record last year, gaining 1.6 million barrels a day, according […]