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Posts under ‘Conoco Phillips’

U.S. Seen Limiting Oil Drilling in Arctic, May Open Atlantic

26 JAN 2015 (Bloomberg) — The U.S. Interior Department will lay a framework as soon as Tuesday for oil exploration in the nation’s coastal waters in a five-year plan that is expected to withdraw areas off Alaska while possibly adding parts of the Atlantic. Republican Lisa Murkowski said the head of the offshore energy office […]

Oil crashes below $50 – Big Oil loses $200 billion

The meltdown in oil prices has wiped out more than $200 billion in market valuation among the 10 largest oil and natural gas companies in the S&P 500. To combat depressed prices, oil companies are hitting the brakes on spending and laying off workers. Investors are saying “enough.” They are dumping their energy stocks as the outlook […]

Shell’s future in the Arctic looks doubtful

By: MICHEAL KAUFMAN Published: Dec 23, 2014 at 12:38 pm EST There is a large question mark on whether Royal Dutch Shell (ADR) (NYSE:RDS.A) will continue a new round of drilling in the Chukchi Sea and the Beufort Sea in the Arctic or not. The company earlier filed a lawsuit against a group of environmentalists […]

Tumbling crude prices will lay waste to countries and companies alike

By John Donovan The oil industry is leaving 2014 on a low note as far as oil prices are concerned.  A financial earthquake has hit ExxonMobil, Royal Dutch Shell, BP, Chevron, Conocophillips and Total.  The Sunday Times devoted a whole page article by Danny Fortson to the turmoil resulting from the collapse in the price […]

Why Shell Is Facing Problems In The Arctic

By: MICHEAL KAUFMAN Published: Dec 19, 2014 at 11:21 am EST Royal Dutch Shell Plc. (ADR) (NYSE:RDS.A) is uncertain over its plans to drill in the US Arctic. The final decision regarding the company is expected to come in March, 2015. During this time the company is likely to consider various factors before taking a […]

Shell may abandon Arctic drilling indefinitely

By John Donovan Royal Dutch Shell is expected to announce by March if it will go forward with plans to drill for oil in Arctic waters offshore Alaska in 2015, a decision which may have more to do with the outcome of court cases and U.S. government reviews than global market fundamentals. Shell’s decision is […]

Talk of Shell BP tie-up to create £200bn world leader

After a solid 10 hours locked in secret briefings at the Langham Hotel in London this week, 100 of BP’s top investors emerged into the crisp winter evening air to the grim news that oil prices had sunk to a new five-year low. From an article in The Sunday Telegraph 14 December 2014 by Andrew […]

Oil majors BP and Shell may be ready for more mergers

Some of Shell’s big shareholders are said to be frustrated by the company’s continued spending on expensive far-flung projects that fail to yield healthy returns. Alongside its profit warning at the start of this year, Shell announced that it was halting a controversial exploration programme off the coast of Alaska because the costs had far outweighed […]

Judge suspends Arctic drilling, orders new environmental report

Extracts from a Los Angeles Times article by Paresh Dave published 24 April 2014 In the ongoing battle over offshore drilling, a federal judge in Alaska told regulators Thursday to redo an environmental impact study that underestimated the amount of recoverable oil and, potentially, the risks to delicate Arctic habitat. The decision by U.S. District […]

Oil firms’ cost cuts may jeopardise worker safety – Norway watchdog

Shell oil rig Kulluk seen grounded off the coast of an Alaskan island. Extract from a Reuters article by Gwladys Fouche published 24 April 2014 OSLO, April 24 (Reuters) – Cost-cutting by oil companies could jeopardise the safety of workers in the future, Norway’s safety watchdog warned on Thursday. The regulator said it was concerned […]

Shell Discovers Oil at Limbayong Field in Offshore Sabah

Extract from an article by Petroliam Nasional Berhad published by RIGZONE on Monday 17 March 2014 Malaysia’s national oil and gas company Petroliam Nasional Berhad (Petronas) and Royal Dutch Shell plc announced Monday an oil discovery offshore Sabah, Malaysia. The drilling of the Limbayong-2 appraisal well was carried out by the consortium of Shell Malaysia […]