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Posts under ‘Cairn Energy’

Oil companies throwing in the towel

Screen Shot 2015-01-12 at 08.45.23“Other companies – including Maersk, Cairn Energy (Scotland) and Shell (the Netherlands) – have postponed their plans for two years while they consider their options.”

From an article by CW published by the Copenhagen Post on 14 Jan 2015 under the headline:

Oil companies throwing in the towel in Greenland

Greenland’s dream of becoming the next oil mecca is fading. Three major energy companies – Statoil (Norway), GDF Suez (France) and Dong Energy (Denmark) – have given up plans to excavate oil in the ocean west of the world’s largest island.

Other companies – including Maersk, Cairn Energy (Scotland) and Shell (the Netherlands) – have postponed their plans for two years while they consider their options. Investing in oil excavation in Greenland is too expensive and uncertain, the oil companies contend. read more

Mike Watts, who found oil in Thar desert, to quit Cairn Energy

Screen Shot 2014-02-10 at 16.29.29Extract from an article published 10 April 2014 by ZeeNews.India.com

New Delhi: Dr Mike Watts, the man credited with discovering India’s largest onland oil field in Rajasthan, will step down from the board of Cairn Energy plc in mid-May.  He saw oil in the Thar desert when Royal Dutch Shell could not and bought out the supermajor in block RJ-ON-90-1 for USD 7.25 million. read more

Greenland explores Arctic mineral riches amid fears for pristine region

The move comes as BP and Shell join others exploring for oil and gas in the pristine waters off Greenland, as concerns grow that the wave of industrialisation in the region will damage the pristine environment.Screen Shot 2013-01-18 at 22.39.30

London Mining’s £1.5bn iron ore mine and new oil drilling licences for BP and Shell spark concern for environment

Screen Shot 2014-01-05 at 20.04.13 Site of London Mining’s iron ore mine at Isua, Greenland. Photograph: London Mining

London Mining, a British mineral company, is trying to attract Chinese and other international investors to build a £1.5bn iron ore mine just outside the Arctic Circle in Greenland.

The move comes as BP and Shell join others exploring for oil and gas in the pristine waters off Greenland, as concerns grow that the wave of industrialisation in the region will damage the pristine environment.

Greenland and the wider Arctic is seen as one of the new frontiers for exploiting mineral wealth, but uncertain national boundaries have also opened up potential political, if not military, conflicts. read more

Environmentalists Get Surprising Ally in Arctic Drilling Debate

By John M. Biers

TOTAL CEO SEES ARCTIC DRILLING AS RISKY BUSINESS

When was the last time you heard an executive from Big Oil say no thanks to drilling a hot prospect because it was too risky to the environment?

Yet that’s what Total Chief Executive Christophe de Margerie just did with arctic drilling. The feisty de Margerie, in an interview with the Financial Times, is quoted as saying an oil spill in Greenland would ”be a disaster,” and that a leak ”would do too much damage to the image of the company.”

De Margerie did qualify the remarks, saying natural gas drilling in the arctic posed less of a threat than oil drilling. But his comments are sure to prompt a sigh of despair from the oil industry as a whole and particularly from companies active in arctic drilling like Shell and Cairn, which have drilling campaigns in Alaska and Greenland, respectively. Both Shell and Cairn face tough, well-organized environmental campaigns against arctic drilling. read more

In Arctic, Greenpeace picks new fight with old foe

By Karl Ritter on August 29, 2012

STOCKHOLM (AP) — Global warming has ignited a rush to exploit Arctic resources — and Greenpeace is determined to thwart that stampede.

Employing the same daredevil tactics it has used against nuclear testing or commercial whaling, the environmental group is now dead-set on preventing oil companies from profiting from global warming by drilling for oil near the Arctic’s shrinking ice cap.

The campaign took off in May 2010, when oil was still gushing from a ruptured well in the Gulf of Mexico. At the time, Greenpeace was startled by reports that a small Scottish energy firm was proceeding with plans to drill for oil and gas in iceberg-laden waters off western Greenland. read more

Shell News Archive Saturday 31 December 2005

Shell News Archive Saturday 31 December 2005

Toronto Star: Royal Dutch Shell eyes Canadian minority buyout: Offer could be worth $7 billion: Saturday 31 December 2005: READ

 

Business Times Malaysia: Joint venture field delivers first gas: “SHELL Malaysia and Petronas Carigali Sdn Bhd have achieved a major milestone with the delivery of first gas from their jointly-operated new Shallow Clastics satellite field.: December 31 2005: READ read more

Shell News Archive Sunday 20 November, 2005

From our Shell News Archive Sunday 20 November, 2005

Al-Bawaba (Jordan): Shell to start seismic operations in Libya: Sunday 20 November 2005: READ

AME Info (United Arab Emirates): Shell introduces innovative technology for water life cycle management in oil fields: Sunday 20 November 2005: READ

 

BLOOMBERG: Putin to Seek Kurils Solution Through Economic Ties: In Sakhalin, Japanese companies are investing in at least two of five oil and gas projects that may spend $50 billion to supply Northeast Asia and the U.S. Exxon Mobil Corp., BP Plc and Royal Dutch Shell Plc, the biggest publicly traded oil companies, lead three of the ventures. Sunday 20 November 2005: READ read more

Cairn storms on after Indian field breaches forecasts

Daily Telegraph: Cairn storms on after Indian field breaches forecasts

“Cairn has now found 2.5billion barrels of oil – 1.7billion of which have already been verified by independent consultant DeGolyer & MacNaughton – since January last year.”: “The company has drilled 100 wells – 12 of which have struck black gold – on a field the same size as 12 North Sea blocks. Cairn bought the prospect from Shell for just $7.25m (£4m) in 2002.”

Wednesday 21 Sept 2005

By Christopher Hope, Business Correspondent (Filed: 21/09/2005)

Cairn Energy’s shares gushed through £20 yesterday after the Scottish oil explorer boosted forecast daily production from its key Indian field again and said it was confident of finding more oil there.

Bill Gammell, chief executive, also moved to reassure investors concerned that the Indian government might step into take a bigger chunk of the field in Rajasthan, north-west India.

Cairn said its daily production would be “in excess of 150,000bpd” from the fields, ahead of the previous range of 120,000bpd to 150,000bpd and more than double the 60,000bpd forecast this time last year. read more

Daily Mail: Shell’s pain is Cairn Energy’s gain

Daily Mail: Shell’s pain is Cairn Energy’s gain

“Canny Scottish operator Cairn bought the Indian fields three years ago for just £4m – from Shell.”

Wednesday 21 Sept 2005

By Ruth Sunderland

SHELL has been forced into a climb down following a row with 400 rebel private investors over the unification of its British and Dutch arms.

The dissident small shareholders had refused an offer from Shell to sell their shares in its former Dutch parent company because it would have landed them with 40pc capital gains tax bills.

The company will now offer a loan note to the rebels which can be exchanged for new shares -therefore avoiding a tax charge.

The UK side of Shell was united with its Netherlands counterpart this summer in a bid to improve transparency in the wake of last year’s oil reserves scandal. read more

ROYAL DUTCH SHELL ROBBERS AND RASCALS

FROM OUR AUGUST 2005 SHELL NEWS ARCHIVE

ROYAL DUTCH SHELL ROBBERS AND RASCALS

“…Shell shareholders have to foot the bill for lawyers fees run up in the course of defending fat cat crooks, such as Sir Phillip Watts, the disgraced former Group Chairman of the Royal Dutch Shell Group. Sir Phillip ended up with a $18 million USD pension pot AND with all his ongoing legal fees being paid by Shell shareholders. This was after he had LIED AND COVERED UP THE TRUTH ABOUT SHELL’S RESERVES, AND IN THE PROCESS, DESTROYED SHELL’S REPUTATION”

By Alfred Donovan: Monday 12 Sept 2005

The press is having a field day in devising colourful headlines about the scandal ridden Royal Dutch Shell Group. An article in “The Sunday Times” yesterday had a story under the headline: “Shell move robs UK investors”. It reported on the horrendous tax implications for UK Royal Dutch shareholders resulting from the recent Royal Dutch/Shell unification and the dubious way in which Shell has dealt with the controversy thus far.

Yesterdays “Independent on Sunday” used the term “Clever Rascals” about Shell in a headline relating to the Sakhalin project in Russia and the potential ramifications in respect of the critically endangered western grey whale. For the record, the Encarta Online Dictionary definition of a “rascal” is: “dishonest person: somebody, especially a man, who is dishonest or otherwise unethical”. read more

Royal Dutch Shell News Thursday, 7 April 2005

Shell News Thursday, 20 January 2005