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Shell Canada approved to resume drilling off Nova Scotia

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By Brett Ruskin, CBC News Posted: Jun 22, 2016 

Nova Scotia’s offshore regulator has given Shell Canada permission to resume drilling the first of two exploratory wells, following an incident earlier this year which saw a two-kilometre-long pipe to fall to the ocean floor.

The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) said drilling can resume Wednesday, but Shell Canada faces new restrictions that will remain in place until the regulator completes further reviews.

Shell Canada’s contracted drill ship, the Stena IceMAX, will now have to disconnect from the sub-sea well head once waves reach five metres in height. Previously, the limit was eight metres.

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Shell puts revamped shale arm at heart of growth drive

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Having turned round its North American shale business, Royal Dutch Shell (RDSa.L) is putting so-called unconventional energy at the heart of its growth plans, and believes lessons from the revamp can be applied across the company.

Greg Guidry, head of the Anglo-Dutch group’s unconventionals business, told Reuters a drive to slash costs and streamline decision-making had put his division largely on a par with leading rivals in terms of productivity and efficiency.

And now the rest of Shell could reap the benefits too.

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Shell set to retreat from North Sea in global asset shakeup

Screen Shot 2016-06-11 at 22.39.18The company has already cut hundreds of jobs from its UK workforce. In the clearest sign yet that Britain’s biggest company will turn its back on the “super mature” North Sea, Shell told investors its planned $30bn sales drive to tackle its debt burden will focus on mature assets in established oil regions.

Shell’s chief executive, Ben Van Beurden, laid out the company’s strategic plan for the rest of the decade, telling shareholders the group plans to leave between five and 10 mature oil regions, which equity analysts have interpreted as a “heavy hint” that UK assets will be included.

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Shell to move away from growth in natural gas business

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By IAN BICKIS: The Canadian Press: Tues., June 7, 2016

CALGARY—Royal Dutch Shell says it’s shifting away from growing its liquefied natural gas business, a move that raises fresh doubts about the future of its proposed LNG Canada project in Kitimat, B.C.

The company said Tuesday the pace of new investment in LNG will slow as it moderates growth and prioritizes cash flow generation and returns on existing projects.

Shell said while its integrated gas business was previously a “growth priority,” it has now reached a critical mass after completing the acquisition of gas giant BG Group in February.

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Shell continues investigation into offshore pipe mishap

Screen Shot 2016-06-03 at 08.27.16“We are still completing our assessment to fully understand what happened,” said Cameron Yost, spokesperson for Shell Canada Thursday.

“It’s too early to discuss the results or what our next steps may be.”

Earlier this year, the Stena IceMAX, a ship contracted by Shell Canada, dropped a specialized pipe, called a riser, onto the ocean floor.

The riser, used to connect a drill ship to an subsea well head, is now at the bottom of 2,000 metres of water.

The incident was caused by poor weather and rough seas, Shell officials said. No drill fluid or oil was leaked.

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Shell’s Saudi Aramco Option

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Cheap oil crimping your spending plans? Sitting on a bunch of valuable upstream oil assets that could be monetized? How about a mammoth IPO? No, not Saudi Arabia. I’m talking about Royal Dutch Shell.

Shell is Europe’s third-biggest company by market value. But after the $54 billion acquisition of BG Group, its net debt is by far the largest: an eye-watering $70 billion.

Big Borrowers

Shell’s net debt is the largest of any company in western Europe

CLICK ON IMAGE TO ENLARGE

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The Anglo-Dutch company says debt is likely “to go up before it goes down” and its reduction is “priority number one”. With credit-rating agencies on its case, Shell has to deliver on a pledge to divest $30 billion of non-core assets within three years.

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Royal Dutch Shell Faces Criticism From Glass Lewis on Payment Plans

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Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has faced huge criticism from Glass Lewis, a shareholder advisory firm to award its CEO Ben Van Beurden with a huge bonus in 2015. The shareholder advisory firm further persuaded the shareholders of the oil giant to cast their vote against the payment plans of the company.

As reported by the Wall Street Journal, Glass Lewis said in a report: “We remain concerned by the disconnect between bonus payouts and financial performance. We find it troubling that the CEO continues to receive payouts at just short of maximum while the company’s financials deteriorate.”

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Pipeline Outage Adds to Nigerian Oil Disruptions

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BY SARAH KENT and MIRIAM MALEK:Updated May 11, 2016 

LONDON— Royal Dutch Shell PLC on Wednesday said its exports of Nigerian crude oil had been significantly disrupted, adding to a slew of stoppages that have knocked out around 500,000 barrels a day of oil output in the West African country.

It is the latest hit to oil exports across the world, leading to mounting concerns about the global crude supply. A series of output interruptions from Canada to Libya have illustrated how quickly the global glut of oil could be cleared out after nearly two years of weighing on prices.

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Shell Canada reopens first oilsands mine shut down by Fort McMurray fires

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By DAN HEALING: The Canadian Press: Tues., May 10, 2016

CALGARY—The first oilsands mine shut down by wildfires in the Fort McMurray region a week ago has been restarted.

Shell Canada said Tuesday that it had resumed production at its Albian Sands mining operations about 95 kilometres north of Fort McMurray after a seven-day closure.

The operations, which include the Muskeg River and Jackpine oilsands mines, have the capacity to produce 255,000 barrels of oil a day, but Shell would say only that they were operating at a reduced rate.

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Shell restarts some production at Alberta oil sands project

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Royal Dutch Shell Plc has restarted production at a reduced rate at its Albian oil sands mining operation in Alberta, it said on Monday, even as many energy companies remain offline after a major wildfire ravaged the area.

The company said it will fly in and fly out staff to help resume operations over the coming days and weeks. Locally based employees may choose to support operations only if they are willing and available, it said.

(Reporting by Jeffrey Hodgson; Editing by Sandra Maler)

SOURCE

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Changes coming in wake of Shell incident

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Journal staff: May 9, 2016

Changes are in the works following an incident last month at Shell’s Corunna refinery that led to a precautionary shelter-in-place for some residents due to reports of elevated benzene levels detected outside the plant.

“We had a meeting with Shell and talked about getting air quality monitors set up for our firehall in Corunna,” St. Clair Township Mayor Steve Arnold said. “So, we’ll be able to do air monitoring ourselves, with our fire guys. We don’t currently have that capacity.

“To me, that’s a real plus.”

The township has also expedited the repair of one of its alarm sirens – which currently only has four of eight horns in working order — and fixed a glitch with another siren after it was discovered that it never sounded at all during the April 27 incident.

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Fort McMurray reflections by Ed Crooks of the FT

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By Ed Crooks: May 6, 2016

The thoughts of everyone in the energy industry were with Fort McMurray, the heart of Canada’s oil sands industry, which was devastated by wildfires this week. The town was evacuated, and more than a fifth of the region’s oil production was halted. There was a lot of great reporting from the local and national press. The National Post particularly stood out with features such as this live map of the areas affected by fire. Maclean’s brought the scale of the fires to people outside Alberta using comparisons with other cities in Canada, the US and Britain. NBC News carried some powerful photographs of the disaster.

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Canadian Crude Prices Surge as Fire Hits Shell, Suncor Output

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  • Oil-sands output may be down by 1 million barrels a day: RBC

  • Suncor, Shell, Husky, ConocoPhillips cut production amid blaze

By Robert Tuttle and Rebecca Penty: May 6, 2016

The worst wildfire in Alberta history is boosting Canadian crude prices as oil companies evacuate workers and shut in as much as 1 million barrels a day of output.

Western Canadian Select, the benchmark for oil sands production, strengthened $1 to an $11.85-a-barrel discount to U.S. West Texas Intermediate on Thursday, the narrowest spread since July, data compiled by Bloomberg show. The absolute price rose $1.54 to $32.47 a barrel.

Suncor Energy Inc., Royal Dutch Shell Plc and Husky Energy Inc. are among companies that shut plants or reduced production. Cnooc Ltd.’s Nexen, ConocoPhillips, Imperial Oil Ltd. and Statoil ASA were also affected. The shutdowns follow supply disruptions in places like Nigeria and Iraq earlier this year that have helped global prices rebound from a 12-year low.

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Royal Dutch Shell Plc casts fresh doubt on B.C. LNG project due to funding

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Yadullah Hussain | May 5, 2016 6:37 PM ET

Royal Dutch Shell Plc. has cast doubts its liquefied natural gas export project in British Columbia will secure a final investment decision (FID) by the end of this year, further dashing the province ’s hopes of shipping LNG by 2020.

Shell’s LNG Canada in Kitimat is competing for funding dollars with two other company LNG projects, both in the United States, as well as with a chemicals plant in Pennsylvania, within the next 12 months, chief financial officer Simon Henry told investors during a conference call Wednesday.

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Royal Dutch Shell closes some Canadian ops as wildfire consumes 1600 buildings

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by Topher Seguin

A massive wildfire that has forced the evacuation of all 88,000 residents of the western Canadian city of Fort McMurray and burned down 1,600 structures has the potential to destroy much of the town, authorities said.

Fort McMurray had been largely emptied of its residents by Wednesday afternoon, officials said, despite fuel shortages, snarled traffic and a highway closed by the flames in the northeastern part of the province of Alberta, the heart of Canada’s oil sands region.

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Oil giants should ditch high-cost projects, thinktank says

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Terry Macalister Energy editor: Thursday 5 May 2016

These leading energy companies including Exxon Mobil should ditch high-cost projects in deep water and Canadian tar sands to concentrate on cheaper schemes that make money at low crude prices, says the report, Sense and Sensitivity, by the Carbon Tracker Initiative.

The report follows shareholder resolutions calling on oil companies to undertake “stress tests” on operations in the face of stronger carbon regulation and weakening fossil fuel demand as countries move to lower-carbon economies.

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Fort McMurray Fire: Shell Turns Oilsands Camp Into Shelter For Evacuees

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CP  |  By The Canadian Press: 05/04/2016 1:02 pm EDT

Screen Shot 2016-04-20 at 13.50.03CALGARY — The wildfire raging through the heart of Canada’s oilsands capital dealt a blow Wednesday to crude perations, with Shell Canada closing a major mining facility north of Fort McMurray, Alta.

The company temporarily shut down production at its Albian Sands mining operations located about 70 kilometres north of the city.

Shell said it made the decision to focus on getting employees and their families out of the region while also freeing up room at its 2,000-person work camp for some of the 80,000 people who were ordered evacuated Tuesday from Fort McMurray.

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Shell finance chief refuses to rule out further North Sea job losses

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Screen Shot 2016-04-25 at 15.56.32Written by Phil Allan – 04/05/2016 12:34 pm

Shell’s finance chief has refused to rule out further job losses in the North Sea as the oil giant announced its earnings had dropped by $4billion dollars in the first quarter of 2016.

Chief financial officer Simon Henry said the voluntary redundancy packaged announced recently announced as a result of Shell’s acquisition of BG Group, may not be the last to affect the North Sea as the company continues to look at cut costs from its global operation.

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Goodbye Marvin Odum

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Screen Shot 2016-02-24 at 17.16.30Marvin Odum, unconventional resources director and U.S. country chair for Royal Dutch Shell, left the company. He joined Shell as an engineer in 1982. Concurrent with his departure, and in a move that will simplify Shell’s structure, the Athabasca Oil Sands Project and the Scotford Upgrader in Canada will join the global Downstream organization under Downstream Director John Abbott.

In addition, the Shale Resources business will join the global Upstream organization under Upstream Director Andy Brown. As a result of these changes, the unconventional resources director position is eliminated.

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Shelter-in-place order for Corunna a ‘precaution’

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Screen Shot 2016-04-28 at 20.41.15Shell’s refinery at Corunna manufactures gasoline, solvents, chemicals and other products. The World Health Organization says human exposure to benzene has been associated with a range of acute and long-term adverse health effects and diseases, including cancer and aplastic anemia.

By Paul Morden, Sarnia Observer: Thursday, April 28, 2016

A phone call from a neighbour of Shell’s refinery in Corunna alerted the company to an incident that resulted in a shelter-in-place advisory being issued Wednesday evening for a section of the St. Clair Township community.

It also led to emergency sirens sounding in Sarnia, and the activating of a community network notification system that sent out thousands of messages to Sarnia-Lambton residents.

Shell spokesperson Kristina Zimmer said that at approximately 4 p.m. Wednesday, “ A resident that lives on Curran Avenue had smelled this abnormal odour, and had called the site to notify us.”

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Dalhousie Dean of Science feared oil company’s revenge over divestment

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By Charles Mandel in News, Energy | April 27th 2016

For years, Royal Dutch Shell has tried to portray itself as one of the good guys in the battle against climate change. It recently completed improvements to an oil upgrader in Fort Saskatchewan, near Edmonton, to capture up to a third of its greenhouse gas emissions – equivalent to removing the annual pollution of about 250,000 cars.

On its website, the company posts stories about how to achieve a low-carbon-future and sponsors a fuel efficient vehicle in the eco-marathon.

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Environmental group files lawsuit over ‘expired’ Shell Arctic oil permits

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Bob Weber / The Canadian Press: April 11, 2016

Environmentalists have asked a court to declare invalid a group of Arctic offshore energy exploration permits that are delaying the creation of Canada’s third national marine protected area.

On Monday, the World Wildlife Fund filed a lawsuit in Federal Court alleging that 30 permits held by Shell Canada at the eastern gate of the Northwest Passage lapsed decades ago.

“There’s no indication they’ve ever been renewed,” said Ian Miron, the group’s lawyer.

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Arctic Conservation Efforts Held Up By Shell Permits From 1970s

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By Bob Weber, The Canadian Press: Posted: 03/27/2016

Environmentalists say talks on creating a third national marine conservation area are being held up over Arctic offshore energy exploration permits that may not legally exist.

“Looking at the permits, it looks like the rights expired in 1979,” said Alex Speers-Roesch of Greenpeace.

The federal government has been trying for years to protect the waters of Lancaster Sound, the eastern gate of the Northwest Passage and home to a wealth of Arctic seabirds and mammals. The effort is strongly supported by local Inuit hunters and land claim groups.

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Australian Energy Giant Woodside Delays Large Offshore L.N.G. Project

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By STANLEY REED: A version of this article appears in print on March 24, 2016, on page B2 of the New York edition

Woodside Petroleum and its partners, including the energy giants Royal Dutch Shell and BP, have decided to delay indefinitely the development of a huge liquefied natural gas project off Western Australia, the company said on Wednesday.

The decision to postpone the project, called Browse, comes as L.N.G. prices in Asia have fallen by around two-thirds since 2014. The slump is attributed to a supply glut set off largely by a building boom and by lower-than-expected demand from major customers like China.

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Shell offshore team loses Styrofoam pipe floats at sea

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Screen Shot 2016-03-15 at 10.34.57By Brett Ruskin, CBC News Posted: Mar 22, 2016

Eight large sections of Styrofoam are adrift at sea — and there’s no plan to recover them.

The abandoned floats broke loose from a pipe used for drilling operations, following an incident earlier this month that has suspended Shell Canada’s search for oil off Nova Scotia’s coast.

“Until such time as the board is satisfied that operations can proceed safely, drilling will remain suspended,” said Kathleen Funke, spokesperson for the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB).

On March 5, weather conditions deteriorated near Shell Canada’s newest exploratory well — named Cheshire — approximately 225 kilometres off the coast.

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An oilman’s $7 billion refresher course in the economics of drilling and climate change

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To many analysts, it looked like Odum was pushed into leaving.

Steven Mufson March 11, 2016

Marvin Odum, president of Shell Oil, was attending a meeting of the parent company’s executive committee in Singapore when word trickled in that an exploration well drilled in Alaska’s Chukchi Sea — the crowning step in a multi-year $7 billion quest — was a dry hole.

Maybe not bone dry. In a recent interview, Odum wouldn’t say. But in the oil business glossary, a dry hole is one that can’t pay off commercially, and Shell’s hole definitely qualified. The parent company, Royal Dutch Shell, abruptly dropped any further drilling — a setback for the industry, though a relief for environmentalists.

For years, they had fought a vigorous, litigious and politically intense battle over the Chukchi. Meanwhile Shell, lured by potentially rich rewards, had overcome a couple of embarrassing rig mishaps at sea and patiently navigated the courts and the Obama administration’s permitting process. Now, geology had rendered its verdict.

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Oil’s upwards rally

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By Ed Crooks: 11 March 2016

Oil this week continued its recent rally, with Brent crude clinging on above $40, but there was speculation that most of the gains of the past two months could be undone if Opec members and Russia failed to finalise their earlier conditional agreement to freeze production.

Reuters reported Opec sources as saying that a suggested meeting in Moscow on March 20 to confirm the deal was unlikely to take place. The critical factor is Iran; other countries say they will not meet to discuss joining the freeze unless Tehran agrees to sign up for it too. President Hassan Rouhani’s chief of staff told a conference in London that his country wanted to increase exports to regain its pre-sanctions market share before it would start talking about cuts. The same official, Mohammad Nahavandian, also sought to reassure international companies that the country would soon unveil new and improved contracts for investors in its oil and gas industry, even though the issue has raised concerns about attempts by foreign businesses to “loot Iran’s natural resources”.

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Shell boss Ben van Beurden bags a bigger bonus despite falling oil price

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RUSSELL LYNCH: 10 MARCH 2016

Royal Dutch Shell boss Ben van Beurden got a bigger bonus in 2015 — up 6% to €3.5 million (£2.7 million) — even though a tumbling oil price sank the shares by 30% last year.

The chief executive landed an overall pay deal of £5.6 million — although this was lower than 2014, when his package was swollen to €24.2 million by tax handouts and pension payments on taking the helm at the oil major.

Shell’s latest annual report showed his 2015 basic pay up to €1.47 million, but his annual bonus rising from €3.3 million to €3.5 million for a year in which van Beurden masterminded the oil giant’s mega-merger with rival BG.

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Shell Canada offshore drill incident drops equipment to sea floor

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Screen Shot 2016-03-07 at 20.59.41By Brett Ruskin, CBC News: 7 MARCH 2016

Severe weather caused a piece of equipment to break off a ship being used by Shell Canada to drill an exploratory oil well off the coast of Nova Scotia.

An official with Shell Canada confirmed Monday that the incident occurred on Saturday, about 225 kilometres offshore at the Cheshire well. The well is part of the company’s Shelburne Basin venture exploration drilling project.

A spokesperson for Shell Canada said in an email that workers on the Stena IceMAX — referred to by the company as the rig — had disconnected from the well in preparation for severe weather that was approaching.

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Shell Hopes To Sell $30 Billion In Assets, But Timing Is Terrible

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Screen Shot 2016-02-17 at 08.47.47By Irina Slav: 06 March 2016

Royal Dutch Shell is planning to sell assets worth a staggering $30 billion in a bid to prop up its balance sheet, after completing the $53-billion acquisition of BG Group last month. The majority of these soon-to-be-offloaded assets are in the midstream and downstream operations of the company.

The plans were first mentioned by Shell’s chief executive during a conference call at the beginning of February. Two anonymous Bloomberg sources familiar with the divestment program stated that this divestment may include pipelines in the U.S., a stake in a gas project in Trinidad and Tobago, and interests that Shell holds in oil and gas fields in India.

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The Allure Of Shale Is Wearing Off

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Screen Shot 2016-02-17 at 08.47.47By Nick CunninghamThu, 25 February 2016

Royal Dutch Shell revealed its plans to downgrade its emphasis on expensive shale operations, although it was not worded in those terms.

The Anglo-Dutch supermajor says that it would fold its “unconventional” unit (i.e. shale) into its broader upstream business. Shell also announced that Mavin Odum, long-time top official from the North American arm of Royal Dutch Shell, will retire after more than three decades at the company.

The two announcements are consistent with Shell’s decision to takeover BG, which was a large bet on LNG and offshore oil plays, particularly in Brazil and Australia. It is also evidence that Shell is deemphasizing its attention and resources on North America, where it has placed several costly bets that have soured. In 2013, Shell cancelled plans to build a $20 billion gas-to-liquids plant in Louisiana. In 2014, Shell sold off shale acreage in Texas, Colorado, and Kansas, according to Reuters, while also divesting itself of Pennsylvania and Louisiana shale gas assets.

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Alaska failure not behind exit – Shell’s outgoing U.S. chief

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Royal Dutch Shell’s (RDSa.L) costly flameout in Alaska last year was “a huge disappointment,” but did not push top North American executive Marvin Odum to exit the company, he said.

Odum made the comments hours after the company announced he would leave next month after 34 years.

“This should not be interpreted as, ‘Alaska didn’t work, so Marvin’s leaving,” Odum, 57, said in an interview.

Instead, he said he decided it was time to move on after heading Shell Oil Co, the Anglo-Dutch company’s U.S arm, since 2008. He later became head of exploration and production operations in the Americas as well.

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Arctic Was a Bet That Didn’t Pay Off, Departing Shell Chief Says

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Jennifer A Dlouhy: Bloomberg.com: 24 FEB 2016

The departing chief of Royal Dutch Shell Plc’s U.S. division, who presided over its failed quest to find crude in Arctic waters off Alaska, said the effort was still a point of pride because it demonstrated the company’s technical expertise.

Marvin Odum, 57, is leaving the company in a reorganization announced Wednesday. He has been with the company for 34 years and held the post atop its U.S. division, Shell Oil Co., since oil prices were at record highs.

The Arctic was “a big bet,” Odum said in a telephone interview Wednesday. 

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Shell replaces U.S. chief, splits unconventionals unit

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HOUSTON | BY KRISTEN HAYS AND RON BOUSSO: Wed Feb 24, 2016 3:42pm EST

Royal Dutch Shell’s U.S. head Marvin Odum will step down after the company abandoned a troubled drilling project offshore Alaska, and the global oil company said on Wednesday it will split up its U.S. shale and Canadian oil sands unit.

Stung by a 70 percent slide in crude prices since mid-2014, Shell this month reported its lowest annual income in more than a decade and pledged further cost saving measures.

The Anglo-Dutch company said on Wednesday its shale resources unit would become part of the global upstream business led by Andy Brown, and its Athabasca Oil Sands Project and Scotford Upgrader in Canada would be folded into the global downstream unit, headed by John Abbott.

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Shell pushes back investment decision on Canadian LNG project

Screen Shot 2016-02-05 at 11.12.10VANCOUVER | BY JULIE GORDON: 4 FEB 2016

British Columbia’s ambitions to become North America’s next major liquefied natural gas exporter took another hit on Thursday, as Royal Dutch Shell pushed back a final investment decision (FID) on its LNG Canada project to late 2016.

The delay came as Europe’s largest oil company reported its lowest annual income in over a decade and said it would take further steps to cut costs to cope with weak oil prices if needed.

LNG Canada, located on British Columbia’s rugged northern coastline, is one of the frontrunners in a now slowing race to build Canada’s first LNG export terminal. It has already been granted its key environmental permits.

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Shell Profits Plunge By 80% Amid Oil Slump

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Shell is pressing ahead with a £36bn ($52bn) merger with exploration group BG. It has said 10,000 jobs will go across the two companies as a result. The deal has been approved by shareholders and will complete later this month.

The industry has been hammered by the collapse in the world energy market which has seen the price of a barrel of Brent crude dive by three-quarters from $115 in the summer of 2014 to around $30 at the start of this year.

Mr van Beurden said Shell was seeing “substantial changes”, slashing costs and investment in response to the slump – and warned that more cuts could come.

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LIVELY POSTINGS ON SHELL BLOG 1 FEB 2016

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“TEXVETTE”

Looks like Marvin Odum was stripped of key responsibilities and placed in a lame Role. Ironically he will have to clean up the messes he left in Alaska and Unconventionals. A bit of Karma, but he should no longer be on the payroll after all his major mistakes.

“OUTSIDER”

The merger of Shell T&T and Royal Dutch in 2004 resulted in a major loss to the UK exchequer, as the taxes previously paid by Shell T&T went to the Dutch government instead. Presumably the taxes previously paid by BG will now go to the Dutch government too?

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Shell-led joint venture gets key permit for LNG facility in Kitimat, B.C.

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By The Canadian Press in News | January 6th 2016

A Shell-led joint venture company has obtained a key permit to build a liquefied natural gas export facility in northern British Columbia.

LNG Canada is the first in the province to receive a facility permit from the B.C. Oil and Gas Commission. The document outlines the requirements for design, construction and operation of the proposed facility in Kitimat, B.C.

Director of external affairs Susannah Pierce said it’s a crucial development for the project, following environmental approval from federal and provincial authorities last June.

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Big Oil braced for global warming while it fought regulations

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Screen Shot 2015-10-26 at 21.23.40As many of the world’s major oil companies — including Exxon, Mobil and Shell — joined a multimillion-dollar industry effort to stave off new regulations to address climate change, they were quietly safeguarding billion-dollar infrastructure projects from rising sea levels, warming temperatures and increasing storm severity.

By AMY LIEBERMAN AND SUSANNE RUST: DEC. 31, 2015

A few weeks before seminal climate change talks in Kyoto back in 1997, Mobil Oil took out a bluntly worded advertisement in the New York Times and Washington Post.

“Let’s face it: The science of climate change is too uncertain to mandate a plan of action that could plunge economies into turmoil,” the ad said. “Scientists cannot predict with certainty if temperatures will increase, by how much and where changes will occur.”

One year earlier, though, engineers at Mobil Oil were concerned enough about climate change to design and build a collection of exploration and production facilities along the Nova Scotia coast that made structural allowances for rising temperatures and sea levels.

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Oil Prices Could Collapse To $20

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By Tyler Durden

Extracts from extracts…

Could oil prices collapse to $20? 

The short answer is ‘yes.’

We believe that crude oil prices could fall further unless global oil production is reduced. As shown in Table 2, we estimate that the global oil market could be oversupplied by roughly 920,000 bpd in 2016. The key assumptions are year-over-year growth in global demand of 1.2 million bpd, Saudi Arabia, Iraq and Libya hold production at current levels, Iran ramps up production at moderate pace over the course of the year and the U.S. rig count remains at current levels.

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Shell to Expand CNOOC Petrochemical Venture in Southern China

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Screen Shot 2015-11-20 at 08.55.47By Bloomberg News: December 15, 2015

Royal Dutch Shell Plc. is expanding its petrochemical venture in southern China with China National Offshore Oil Corp.

The two companies signed an agreement Tuesday to double the capacity of their equally held ethylene-cracking facility in Guangdong province to 2 million metric tons a year and add other chemicals units, Shell said in an e-mailed statement. The new facilities are expected to start operation in two years, it said, without providing a figure on the cost of the expansion.

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Royal Dutch Shell’s Management Wants You to Know These 5 Key Things

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Royal Dutch Shell’s Management Wants You to Know These 5 Key Things

Screen Shot 2015-11-20 at 08.55.47Last quarter was a pretty rough one for Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B). The company was forced to take more than $7.9 billion in charges to the income statement to write down some abandoned development projects, and its oil and gas production in the Americas continues to be a bit of a headache. 

Management was well aware of how these results looked, and so on its most recent conference call its executives acknowledged these weaknesses but also had some things to say that any investor in Shell should be aware of. Here are five quotes from the most recent conference call that provide some juicy tidbits into how to view this company over the long term.

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Shell Cutting Salaried Positions At Corunna

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Screen Shot 2015-11-20 at 08.55.47By Dave Dentinger on December 8, 2015: BLACKBURNNEWS.COM 

Shell Canada is cutting an unspecified number of salaried positions at its Corunna refinery in 2016 to remain competitive in a challenging economy.

Spokesman Randy Provencal says he can’t get into numbers at this point but the reductions will affect employees like engineers and office support staff and not hourly workers.

“The employees who are working in the plant, running the plant, they’re not impacted by these staffing reductions,” says Provencal.

“Shell is taking the necessary steps to ensure our manufacturing site here in Corunna is competitive through all economic cycles, right now what we’re doing is exploring a number of efficiencies which will result in some staff reductions in the coming year.”

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Shell Has Underperformed, But It Could Be The Only Oil Major That Emerges Bigger From The Downturn

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Screen Shot 2015-11-20 at 08.55.47…the company’s profits plummeted 70% from last year to $1.77 billion…

Sarfaraz A. Khan: Sunday, Dec 6, 2015

Summary

  • The oil major Royal Dutch Shell is closing in on its biggest-ever merger with the UK based oil and gas producer BG Group.
  • Shell has been the worst performing stock in its peer group and now offers an above average yield of 7.8%.
  • But Shell is generating enough cash from operations and asset sales to cover its spending.
  • More importantly, Shell could be the only oil major that emerges even bigger from the downturn.

The oil major Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) is closing in on its biggest ever merger with the UK based oil and gas producer BG Group (OTCQX:BRGYY). On Wednesday, the Anglo-Dutch oil producer revealed that it has received a green signal from Australia’s Foreign Investment Review Board following an approval from the country’s anti-trust regulator received last month. The BG Group is one of the major players in Australia’s rising LNG sector where the company has invested more than $20 billion on developing the Queensland Curtis LNG plant.

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Shell Forced to Scale Back Ambitions

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Screen Shot 2015-11-20 at 08.55.47By James StaffordThu, 26 November 2015

As with most oil companies, 2015 has been a rough year for Royal Dutch Shell. The Anglo-Dutch company reported a third quarter loss of $6 billion, which included $7.9 billion in impairment charges.

During its third quarter earnings call, Shell’s CEO Ben van Beurden summed up the company’s strategy, emphasizing restraint. “Grow to simplify” is how he put it. What that means in practice is scrapping the Arctic campaign; pulling out of the expensive Carmon Creek oil sands project in Canada; shedding assets in the less desirable parts of North American shale; selling assets elsewhere around the world, including Nigeria; and focusing on its merger with BG, which is a big bet on LNG.

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By Charles Mandel | November 25th 2015

Screen Shot 2015-11-20 at 08.55.47A handful of protesters from Sum of Us, Greenpeace, the Ecology Action and the Clean Ocean Action Committee delivered a massive 233,000-signature petition to the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) opposing what they said were extremely lax safety standards around Shell’s drilling program. Currently, if a subsea oil well blowout were to occur, the company would be allowed to take 12 to 13 days to contain it. Shell’s original proposal suggested it could take 21 days to get a capping stack to the site.

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Royal Dutch Shell, Exxon Mobil and Glencore: Energy companies risk wasting trillions on uneconomic projects

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By Jessica Morris: 25 November 2015

Energy companies risk wasting $2.2 trillion (£1.46 trillion) on uneconomic projects over the next 10 years, according to a new report.

Think tank the Carbon Tracker Initiative’s (CTI) report how fossil fuel firms risk destroying investor returns says energy companies’ focus on fossil fuels at the expense of emerging clean technologies could put them out of kilter with environmental regulation, which will eventually dampen demand.

It comes ahead of next week’s Paris Climate Change Conference (COP21) which is expected to result in, or at least pave the way for, more climate change legislation.

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Shell Canada fined $825,000 for Sarnia refinery pollution

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CALGARY, ALBERTA

Nov 24 The Ontario government on Tuesday ordered Shell Canada, a wholly owned subsidiary of Royal Dutch Shell, to pay C$825,000 ($620,487.36) in fines for discharging a contaminating odour from its Sarnia refinery in 2013.

In a statement, the Ontario Ministry for Environment and Climate Change said Shell had pleaded guilty to one offense of permitting a discharge of an odour containing mercaptan, a foul-smelling gas.

The Shell Sarnia Manufacturing Centre is located in Corunna, Ontario, and on Jan. 11, 2013, employees discovered a leak from a line containing mercaptan, which flowed into an on-site ditch that empties into the refinery’s storm sewer system.

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Lorraine Mitchelmore is stepping down as the head of Shell Canada. But she’s not going quietly.

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Screen Shot 2015-11-20 at 08.55.47NOVEMBER 18, 2015 10:20 AM

Extracts

Shell has reduced greenhouse gas emissions by 20 per cent per barrel from its oilsands business in the past five years, through many small efforts, including making more efficient use of its trucks.

Yet that hasn’t stopped Shell from being a target and paying a high price for the anti-oilsands campaign.

Last month it cancelled the 80,000-barrels-a-day Carmon Creek oilsands project in Peace River in mid-construction, taking a $2-billion impairment charge.

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Shell share price: Canada boss leaves company

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Screen Shot 2015-10-28 at 08.03.29by Veselin ValchevTuesday, 17 Nov 2015, 11:18 GMT

Royal Dutch Shell Plc (LON:RDSA) announced yesterday that the boss of the firm’s Canada division, Lorraine Mitchelmore, is stepping down from the company at the end of 2015, following six years at the helm.

The move comes less than a month after the Anglo-Dutch oil major abandoned its 80,000 barrel per day Carmon Creek thermal oil sands project in Alberta, amid a reshuffle of the firm’s portfolio.

A spokesman for Shell Canada said Mitchelmore’s departure had nothing to do with the decision to shelve Carmon Creek.

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