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Posts under ‘Canada’

Shell sees only 15%-20% of Canada LNG projects advancing

Article by Carl Surran published 25March 2015 by SeekingAlpha.com Shell sees only 15%-20% of Canada LNG projects advancing A top executive at Royal Dutch Shell (RDS.A, RDS.B) says he expects only 15%-20% of liquefied natural gas export projects already approved by the Canadian government to go ahead in the next decade. Markus Hector, Shell’s general […]

Massive Layoffs Occurring in the Oil Industry

From an article by Wall Street Sector Selector Staff published 19 March 2015 Massive Layoffs Occurring in the Oil Industry Husky Energy operating in the Canadian oil sands announced it would cut capital expenditures and put some long-term projects on hold. Husky Energy announced the layoffs of 1,000 workers. Suncor and Royal Dutch Shell are […]

Prices Fall to a Six-Year Low for U.S. Oil

Article by Stanley Reed published 17 March 2015 in the New York edition of the New York Times Prices Fall to a Six-Year Low for U.S. Oil Oil prices fell to six-year lows on Monday in the face of concerns that a glut in the United States was outpacing already-brimming storage facilities. Additionally, the Organization […]

JP Morgan Warns Royal Dutch Shell Investors

By: MICHEAL KAUFMAN Published: Mar 2, 2015 at 12:24 pm EST In a report published on Monday, JP Morgan has advised the stock market participants to keep an eye on the “five key factors” that could undermine RoyalDutch Shell plc (ADR) (NYSE:RDS.A) earnings during the first quarter of fiscal 2015 (1QFY15). JP Morgan is of […]

Keystone and the Riddle of the Tar Sands

BY MARK DOWIE 2/25/15 AT 10:49 PM Late 21st-century graduate students of business studying the growing problem of stranded assets will almost certainly focus on the history of Canada’s Athabasca Oil Sands (a.k.a. the tar sands). The case studies they read will either describe the gradual abandonment of the world’s largest reserve of bituminous crude […]

Canada’s energy slump to wipe out $23-billion over two years

From an article by Jeff Lewis published 24 Feb 2015 by The Globe and Mail under the headline: Canada’s energy slump to wipe out $23-billion over two years Extracts The slump in Alberta’s energy sector is set to wipe out billions more in corporate earnings, complicating growth plans and putting investor dividends at greater risk. […]

Another nail in the coffin of tar sands

BBC NEWS: Obama vetoes Keystone oil pipeline bill: 24 Feb 2015 US President Barack Obama has vetoed a bill that would have approved construction of the Keystone XL oil pipeline. The Republican-led Congress sent the bill to the president on Tuesday. White House spokesman Josh Earnest said Obama vetoed the bill “without any drama or […]

Why Shell Withdrew Application For Pierre River Oil Sands Project

By: MICHEAL KAUFMAN Published: Feb 24, 2015 at 7:48 am EST Royal Dutch Shell plc (ADR) (NYSE:RDS.A) indicated on Monday that it has withdrawn the application to develop Pierre River Oil Sands in northern Alberta. The oil sands mine was first proposed by Shell Canada in 2007. The Pierre River oil sands are estimated to […]

Shell Canada withdraws oilsands mine application as a cost-cutting measure

By Dan Healing of the Calgary Herald Extracts The Pierre River oilsands mine proposed by Shell Canada in 2007, split out of a joint application in 2009 and delayed indefinitely last year has been withdrawn entirely from the regulatory approval process. “The Pierre River mine remains a very long-term opportunity for us but it’s not currently […]

Refinery operator Shell Canada charged for January 2013 incident at plant

By Paul Morden, Sarnia Observer: Friday, February 13, 2015 11:57:12 EST AM Refinery operator charged for January 2013 incident at plant Extracts Representatives of Shell Canada made a brief court appearance in Sarnia on Friday on environmental charges the company faces following an incident Jan. 11, 2013 at its plant near Corunna. Shell is scheduled to […]

Oil companies Arctic projects in deep freeze

Information and graphic sourced from an FT article by Richard Milne in Oslo, Christopher Adams in London and Ed Crooks in New York, published 6 February 2015. The first of two drilling rigs contracted by Shell will soon leave Singapore and once sea ice has sufficiently receded, will embark on a summer drilling project in U.S. […]

Slump in Oil Prices Brings Pressure, and Investment Opportunity

An article by Michael Corkery and Peter Eavis published 2 Feb 2015 by The New York Times under the headline:  “Slump in Oil Prices Brings Pressure, and Investment Opportunity” American history is littered with oil busts that created big winners and losers. Now, as the cracks appear in the latest energy boom, the forces of […]

Who Will Rule the Oil Market?

OPINION ARTICLE BY DANIEL YERGIN PUBLISHED IN PRINT BY THE NEW YORK TIMES ON SATURDAY 25 JAN 2015 WASHINGTON — A HISTORIC change of roles is at the heart of the clamor and turmoil over the collapse of oil prices, which have plummeted by 50 percent since September. For decades, Saudi Arabia, backed by the […]

Tumbling oil prices

From a Bloomberg article by Joe Carroll and Tara Patel published 12 Jan 2015 by Business Report under the headline: “Analysis: Falling oil prices to trigger flood of write-downs” Extracts TUMBLING crude prices will trigger a flood of oilfield write-downs starting this month after industry returns slumped to a 16-year low, calling into question half a […]

Panic sets in: Shell Canada job cuts

From Business News Network: 9 Jan 2015 BNN Exclusive: Shell Canada lays off oil sands workers In the face of collapsing crude prices, Shell Canada confirms to BNN it will reduce its oil sands workforce. The company says less than 10 percent of its total oil sands headcount will be impacted, which currently stands at roughly […]

Shell in court again, this time Canada

From an article published by the observer.ca on 7 Jan 2015 under the headline: “Shell to appear Feb 13 in Sarnia court” Shell Canada has been charged by Ontario’s Ministry of Environment and Climate Change following a Jan. 11, 2013 incident at its plant near Corunna. Ministry spokesperson Kate Jordan said in an email that […]

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