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Posts under ‘Cairn Energy’

Oil companies throwing in the towel

“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 […]

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

Extract 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 […]

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. London Mining’s £1.5bn iron ore mine and new oil drilling licences for BP and Shell spark concern for environment Terry Macalister […]

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 […]

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 […]

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 […]

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: […]

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 […]

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 […]

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 […]

Royal Dutch Shell News Thursday, 7 April 2005

Royal Dutch Shell News Thursday, 7 April 2005 Houston Chronicle: Shell is hoping to book disputed reserves again: Fields off coast of Australia had been overstated: “Shell, based in London and the Hague, last month said its oil and gas reserves as of 2002 were overstated by 41 percent, the culmination of five cuts that […]

Shell News Thursday, 20 January 2005

Shell News Thursday, 20 January 2005 DAILY MAIL (UK): City & Finance: Shell to recruit 1,000 engineers: “SHELL is recruiting 1,000 more engineers to beef up the business at the centre of lasts year’s reserves scandal.” (ShellNews.net) Posted 20 Jan 05 FINANCIAL TIMES: BP aims to abandon share option incentives: “…Royal Dutch/ Shell has requested […]

Shell News Monday, 17 January 2005

Shell News Monday, 17 January 2005 Houston Chronicle: Shell Oil awaits a new leader: U.S. chairman will seek to rebuild company’s image: “As part of the Royal Dutch-Shell Group of Companies’ continued management shuffle, it is installing a new U.S. country chairman, John Hofmeister…”: “widely credited with hiring Judy Boynton, the former chief financial officer […]

Shell News Archive Saturday 18 December, 2004

Shell News Archive Saturday 18 December, 2004 PRNewswire: STARZ Buying Club Celebrates First Anniversary; Shell-Branded Retail Outlets Enjoy Savings and Efficiencies From Program (ShellNews.net) Posted 18 Dec 04 TMCnet.com: ESRI Reaches Groundbreaking Agreement with Shell (ShellNews.net) Posted 18 Dec 04 The Independent (UK): Cairn shares crash after setback in Rajasthan: “Cairn has enjoyed a meteoric […]

Lucrative oilfield in India that Shell decided to abandon

The Times: Business Editor’s Commentary: Entrepreneurs need vision, determination and bravery as do large companies if they are to prosper. Bill Gammell has all those qualities. He also has a very lucrative oilfield in India, which Shell decided to abandon. Sir Philip Watts would not have qualified for the first round of the Entrepreneur of […]

Shell supertanker steers into deeper waters

FROM OUR SHELL NEWS ARCHIVE SEPT 2004 The Independent: Michael Harrison’s Outlook: Shell supertanker steers into deeper waters “brotherly love has been notable for its complete absence inside the South Bank politburo, where the motto has been stab someone in the back before you are made to walk the plank yourself.”: Judging by the reaction […]

Shell’s great lucky break was that its annus horribilis

The Times: COMMENT: Well, well, well: “Shell has made six “significant finds” since the start of last year and they might have been involved in more had it not, famously, sold for a pittance its stake in the fruitful Mangala field in India to Cairn.”: “…Shell’s great lucky break was that its annus horribilis has […]

Shell spends big to recoup ‘lost’ oil

The Age (Australia): Shell spends big to recoup ‘lost’ oil “Managing director of exploration and production Malcolm Brinded admitted that Shell’s reserve replacement rate would only be 100 per cent over the next five years – less if the “lost” barrels were excluded.” By Christopher Hope London September 24, 2004 Shell has pledged to spend […]

We’ll be running to stand still until 2009, says Shell

Daily Telegraph: We’ll be running to stand still until 2009, says Shell “…Mr Van der Veer was dismissive of suggestions it might merge with French giant Total. He said: “The fact that [that story] can get legs shows that our reputation is not where we want it to be.”: “Shell was embarrassed about selling a […]

Shell weighs multi-billion share buyback to win over investors

Independent On Sunday: Shell weighs multi-billion share buyback to win over investors “Shell, the tarnished oil giant…” By Tim Webb 19 September 2004 Shell, the tarnished oil giant, is considering buying back billions of pounds’ worth of its shares in a bid to restore investor confidence. The news comes as new chairman Jeroen van der […]

Eyes on Shell again as new boss tries to fight back

Scotland On Sunday: Eyes on Shell again as new boss tries to fight back “…Cairn Energy – the Edinburgh firm which looks set to rake in bucketloads of cash from Indian assets it bought for a song from Shell – officially begins trading on the FTSE100 tomorrow.” IAIN DEY 19 Sept 04 SHELL is set […]

Buccaneer who struck black gold

The Business: Buccaneer who struck black gold “Two years ago, Cairn bought out Shell completely for £4m and kept drilling.”: “Cairn kept going where the mighty Shell gave up”: “Cairn has a market capitalisation of £2bn, compared with £6m when Gammell founded the company in 1980.” 12 Sept 04 The former Scottish rugby star who […]

Lumbering, floundering Shell

ThisIsMoney.com: Special report: King at Cairn: It’s the tale of David and Goliath, the fleet-footed, smart Cairn against the lumbering, floundering Shell…”: “…he has to say only one word to his critics who want him to play this more cautious, stay-at-home, game. The word is Shell.” Chris Blackhurst, City Editor, Evening Standard Posted 10 September […]

The Independent: Cairn caps FTSE 100 entry with oil find

The Independent: Cairn caps FTSE 100 entry with oil find “Mr Gammell refused to comment on Shell’s decision to sell the exploration block to Cairn for a pittance,…” By Michael Harrison, Business Editor 08 September 2004 Cairn Energy, the independent oil exploration group, yesterday celebrated its entry into the FTSE 100 index of leading companies […]

Scotsman.com: Cairn Energy Powers into FTSE 100

Scotsman.com: Cairn Energy Powers into FTSE 100 “Cairn has seen its shares more than triple since January when it announced the first of 10 finds in India on an oil field purchased from Shell for £4 million in 2002. The company is now valued at more than £2 billion.” By David Winning, City Staff, PA […]

The Times: Cairn waits for green light on Mangala

The Times: Cairn waits for green light on Mangala “Approval by the Government would enable Cairn to start developing Mangala to extract up to 100,000 barrels of oil a day from the Rajasthan desert bloc it bought off Shell two years ago.” By Peter Klinger September 08, 2004 CAIRN ENERGY, the Edinburgh oil and gas […]

Modest Scot who has hit the jackpot

Daily Telegraph: Modest Scot who has hit the jackpot “Seven years ago he invested in an overlooked Rajasthan field, buying the last 50pc from Shell for $7.5m in 2002. By last December, Cairn had spent $100m on drilling. Then in January, it struck black gold.” (Filed: 08/09/2004) It’s been a year to remember for Bill […]

The Guardian: Rajasthan oil takes Cairn into FTSE 100

The Guardian: Rajasthan oil takes Cairn into FTSE 100 “Cairn was also able to announce another drilling success in Rajasthan, with a fifth oil discovery near Mangala, which it bought for a song from Shell.” Doubts remain over field’s potential output Terry Macalister Wednesday September 8, 2004 Cairn Energy, the Edinburgh oil and gas group, […]

The Guardian: Notebook: Time to grow up

The Guardian: Notebook: Time to grow up This is the firm that snatched an exploration licence for the Indian state of Rajasthan from Shell for the comical price of £10m – just before Shell owned up to its serial over-statement of its reserves. Cairn proceeded to make a string of discoveries…” 8 Sept 04 In […]

The Independent: Market Report: Cairn Energy

The Independent: Market Report “Cairn bought control of an oilfield in Rajasthan, India, from Shell in 2002. The amazing success of this asset forms the basis of Cairn’s £2.4bn market capitalisation. The group paid Shell just £4m for control of the field.” Michael Jivkov 07 September 2004 A half-hearted performance by Schroders yesterday means that […]

Discoveries push £2.4bn Cairn into FTSE 100

The Times: Discoveries push £2.4bn Cairn into FTSE 100 “…it will also seal the humiliation of an already shamed Shell” By Nick Hasell September 06, 2004 CAIRN Energy is set to secure a place in the FTSE 100 for the first time in this week’s quarterly index reshuffle after four significant oil discoveries in India […]

Cairn’s Indian oil find comes in at the top end of City forecasts

Sunday Telegraph: Cairn’s Indian oil find comes in at the top end of City forecasts “Investors have become concerned about reserves bookings in the wake of the debacle at Royal Dutch/Shell. The Anglo-Dutch oil giant shocked the market in January by revealing it had overbooked its reserves by 25 per cent.” By Sylvia Pfeifer (Filed: […]

Buoyant E&P sector

Financial Times: Buoyant E&P sector “Shell has a particular problem at the moment. It is running out of oil in the ground and has lost a chairman and faced public humiliation following surprise cuts in its oil reserve estimates earlier this year.” Posted 28 August 04 From Antrim Energy, through Cairn Energy and Paladin Resources, […]

The Scotsman: Cairn to debate India sale

The Scotsman: Cairn to debate India sale “In Bangladesh, we’ve recently taken over the operatorship of assets from Shell.” JAMES DOW Posted 22 August 04 CAIRN Energy could sell off its massive oil interests in west India and will debate its options once further tests in the area have been wrapped up, the company’s chairman […]

Daily Telegraph: Consultants check Cairn oil reserves

Daily Telegraph: Consultants check Cairn oil reserves “pressure from investors to ensure that the reserves estimate presented to the City is watertight in the wake of the Shell debacle.” By Christopher Hope, Business Correspondent (Filed: 19/08/2004) Cairn Energy has hired a respected independent US oil reserves consultant to double-check the size of its four oil […]

Daily Telegraph: After Shell, experts have Cairn over a barrel

Daily Telegraph: After Shell, experts have Cairn over a barrel “Watching the lawyers circling over Shell, the Cairn directors probably think that whatever DeGolyer charges, they’ve got a bargain.” 19 August 04 Consultants check Cairn oil reserves It’s unlikely that DeGolyer and MacNaughton will discover anything very surprising when they pick over the records at […]

Daily Telegraph: Cairn oil bonanza nets chiefs £4m bonus

Daily Telegraph: Cairn oil bonanza nets chiefs £4m bonus “Cairn’s finds in India are a source of continued embarrassment to Shell, which sold its 50pc share in the concession to Cairn for just $7.25m.” By Christopher Hope, Business Correspondent (Filed: 16/08/2004) Cairn Energy, the Scottish oil explorer, will take a charge of more than £4m […]

The Scotsman: Oil bonanza for man who took on Shell and won

The Scotsman: Oil bonanza for man who took on Shell and won JAMES DOW 17 Aug 2004 WHEN Bill Gammell stepped forward to accept the gong for Scottish Entrepreneur of the Year a few weeks ago, he turned to the assembled high-fliers and made a typically self-deprecating remark. “I am only fortunate to be the […]

Shell News Tuesday 20 January, 2004

Shell News Tuesday 20 January, 2004  Houston Chronicle: Shell’s strategy led firm into decline, brokers say Houston Chronicle: Chairman defends action on reserves Financial Times: Shell shocked as reject field strikes it rich The Times: Red faces at Shell as Cairn hits black gold The Guardian: Cairn strikes it rich on land Shell sold London […]

Shell News Monday 19 January, 2004

Shell News Monday 19 January, 2004  The Daily Telegraph: Shell shareholders demand change after bombshell  Financial Times: Shell suffers another blow to its pride London Evening Standard:  Cairn oil find blow for Shell boss Like this:Like Loading…