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Posts under ‘Exxon Mobil’

Western oil groups warn Nigeria against overhaul of contracts

Western oil executives are warning Nigeria against major changes to commercial contracts that could lead to the government taking a bigger share of revenues from the country’s deepwater fields, FT reports. The decision – which the government says will affect Royal Dutch Shell (RDS.A, RDS.B), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Eni (NYSE:E) and others “in […]

Shell and Exxon’s €5bn problem: gas drilling that sets off earthquakes and wrecks homes

Groningen has been one of Europe’s richest gas fields for 30 years, and thousands of people say their homes have been damaged by the tremors that drilling sets off. Now a class action may finally bring them compensation – and force a rethink of European energy security Highlights from an article by Lucas Amin Published Saturday, […]

Shell Starts Nigeria Offshore Expansion of Up to 50,000 Barrels

Rakteem Katakey: 5 Oct 2015 Bonga phase 3 oil passes through floating production facility Shell has 55% of Bonga, Exxon 20%, Total, Agip 12.5% each Royal Dutch Shell Plc expanded oil production off Nigeria’s coast by starting the third phase of its Bonga field.  That phase has a peak production capacity of about 50,000 […]

Shell-BG Deal Could Face Regulatory Sanctions, But Shell Will Do Everything It Can To Save Deal

Trefis Team, CONTRIBUTOR: 2 Oct 2015 Ever since announcing the $70 billion deal to acquire BG Group back in April, Royal Dutch Shell Plc. has been busy these last few months obtaining the required merger related approvals from various regulatory authorities. After obtaining the required clearances in Brazil, the U.S., and Europe, the process hit a […]

Royal Dutch Shell’s Arctic Bucket Of Ice Has Melted, Yield Is Now North Of 8%

Sep. 29, 2015 Summary * The Burger J well test results were a dud, no major reserves found. * Shell puts Arctic drilling on hold indefinitely, which further reduces future capex. * Dividend yield tops the 8% mark. Royal Dutch Shell (RDS.A / RDS.B) was always upbeat about the prospects of drilling in the Arctic, […]

Shell/Exxon NAM JV cuts 2000 jobs due to low oil price and liability for Dutch earthquakes

“Thousands of buildings have been damaged in earthquakes caused by the ground settling after the gas has been removed. ‘NAM has continued to drill in Groningen even though it is well aware of the risks, and has put dozens of lives in danger…” By John Donovan: Saturday 19 Sept 2015 A spokesperson for the Dutch […]

Cash-strapped Nigeria to renegotiate contracts with oil majors

By: Carl Surran, SA News Editor: Sept 16, 2015 Nigeria’s state oil company says it plans to renegotiate production sharing agreements with oil majors including Royal Dutch Shell (RDS.A, RDS.B), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM) and Eni (NYSE:E), as the country has been hit hard by the plunge in global oil prices. “Some of the […]

Iraq Asks Oil Companies to Cut Spending After Drop in Prices

By Khalid Al Ansary: September 15, 2015 Iraq asked oil companies to reduce their 2016 spending plans in the country by Sept. 30, citing lower oil prices and government revenue. The reduced budgets shouldn’t affect 2015 production, Abdul Mahdy Al-Ameedi, director of licensing at Iraq’s oil ministry, said by phone Tuesday, citing a letter that the […]

Groningen gas production challenged in Dutch court

THE HAGUE, SEPT 10 | BY TOBY STERLING (Reuters) – A Dutch high court on Thursday began hearing complaints from groups seeking to reduce or stop gas production at the Groningen gas field, Europe’s largest, to reduce the danger of earthquakes. No date has been set for a ruling by the Council of State, but […]

Riled Locals Fight Output From Europe’s Largest Gas Field

Groningen gas field produces 61 percent of Dutch fuel Complainants say gas extraction has caused earthquakes By Kelly Gilblom: BLOOMBERG.COM: Sept 10, 2015 A Dutch court is set to hear arguments that production from Europe’s largest natural gas field should be suspended because of earthquakes linked to extraction. The Netherlands has progressively cut the amount of […]

Yes, ExxonMobil Could Buy Chevron

By Ben Levisohn: Sept 9, 2015 Oppenheimer’s Fadel Gheit and Luis Amadeo contend it’s just a matter of time before ExxonMobil (XOM) goes on a shopping spree–and argue that it’s theoretically possible Chevron (CVX) could be a target. They explain: Lower oil and gas prices for longer could accelerate industry consolidation, which could benefit large financially […]

Move Over Exxon, Russian Drillers Are Oil World’s Top Performers

By Stephen Bierman and Rakteem Katakey: Sept 8, 2015 At a time when the collapse in crude prices pushes Russia’s economy into a recession, the nation’s oil producers are managing to beat their western counterparts. On measures including cash flow, profit margins and share prices, OAO Rosneft, Lukoil PJSC — Russia’s two largest oil producers — and OAO […]

How to Invest in Arctic Developments After Obama’s Alaska Trip

Arctic developments have great potential, but are they worth the risks? By Debbie Carlson: Sept. 7, 2015 As climate change melts some of the Arctic’s permafrost, natural resource companies and shippers are eyeing the potential to develop a region that is receiving renewed public attention from President Barack Obama’s trip to Alaska. According to global management […]


By: MICHEAL KAUFMAN: Sep 3, 2015 A Dutch court has ruled that Nederlandse Aardolie Maatschaapij BV (NAM), a joint venture of Exxon Mobil Corporation (NYSE:XOM) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A), must compensate those affected by the earthquakes near the Groningen gas field, one of the biggest natural gas reserves in the world. The Dutch […]

Shell, Exxon Ordered to Pay Groningen Earthquake Compensation

By MAARTEN VAN TARTWIJK: Sept. 2, 2015  AMSTERDAM—A Dutch court ruled Wednesday that Royal Dutch Shell PLC and Exxon Mobil Corp must compensate homeowners for a drop in house prices caused by earthquakes linked to production at the Groningen gas field. The ruling could open the door to a wave of compensation claims against the energy […]

Dutch Court Says Gas Producer Must Compensate Homeowners in Quake Zone

By REUTERS SEPT. 2, 2015 AMSTERDAM — A court in the Netherlands ruled on Wednesday that a natural gas company, a joint venture by Royal Dutch Shell and Exxon Mobil, must compensate homeowners for declines in the value of their properties because of earthquakes linked to production at the Groningen field. The ruling by the court […]

BG says European Commission signs off on Shell bid

Wed Sep 2, 2015 BG Group Plc (BG.L) said the European Union’s antitrust regulators had approved Royal Dutch Shell Plc’s (RDSa.L) $70 billion takeover bid for the oil and gas producer. The deal, which will help Shell compete better with world No. 1 oil major ExxonMobil (XOM.N), has already received the green light from regulators […]

Exxon Mobil Corporation, Chevron Corporation, BP And Royal Dutch Shell Face Challenging Dividend Environment

Bidness Etc sheds light on the challenges for companies like Exxon, Chevron, BP, Royal Dutch Shell, and Total SA in sustaining dividend payouts amidst depressed crude oil prices By: MICHEAL KAUFMAN: Sep 1, 2015  Crude prices have dropped more than 50% since the highs of June last year, following weak Chinese demand and a global supply […]

Why Royal Dutch Shell plc Is Facing Resistance In Canada

By: MICHEAL KAUFMAN: Aug 28, 2015  Royal Dutch Shell plc’s (ADR) (NYSE:RDS.A) drilling in Canada will be coming in for resistance, as reported by the Guardian. The drilling plan in Nova Scotia’s southern shore has been approved by the country’s Environment Minister and is under the Canada-Nova Scotia Offshore Petroleum Board’s review. The Canadian Environment Ministry […]

Market Rout

Oil’s slump has been brutal. More than half a trillion dollars of value has been wiped from the five biggest international oil companies — Exxon, Shell, Chevron, Total and BP — since mid-June last year. Rakteem Katakey: August 26, 2015: BLOOMBERG.COM Shares of the largest oil companies have slumped so low it suggests investors expect […]

Royal Dutch Shell Is Now A 7.54% Dividend Yield Monster

Aug. 24, 2015 6:45 PM ET Summary Stock market downturn takes Shell’s dividend yield to an astonishing 7.54%. The dividend looks reasonably safe. High initial yield but little growth expected in coming years. Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) doesn’t need an introduction. This Anglo-Dutch multinational is one of the largest, integrated oil & gas majors […]

Shell begins ‘high-risk’ drilling for Arctic oil

Robin Pagnamenta Energy Editor: August 22, 2015 Shell has begun the final stage of its $7 billion attempt to drill for oil in Alaska’s remote Chukchi Sea. Despite tumbling oil prices and opposition from Hillary Clinton and conservationists, this weekend a steel drill bit was grinding its way through rocks deep beneath the icy waves. […]

Oil Companies Sit on Hands at Auction for Leases

By CLIFFORD KRAUSS: AUG. 20, 2015 PAGE B1 IN NEW YORK EDITION HOUSTON — With oil prices collapsing and companies in retrenchment, a federal auction in the Gulf of Mexico on Wednesday attracted the lowest interest from producers since 1986. It was the clearest sign yet that the fortunes of oil companies are skidding so fast […]

How Chevron, Exxon and Shell Will Be Impacted By Australian Tax Legislation

By: MICHEAL KAUFMAN: Aug 17, 2015 In the past, Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM) and Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) have managed to charge high interest rates from their Australian subsidiaries for the funding of their $54 billion Gorgon project. The high interest payments allowed the oil majors to enjoy massive tax-free […]

U.S. sanctions put Gazprom-Shell alliance plans in jeopardy

MOSCOW | BY DENIS PINCHUK AND KATYA GOLUBKOVA: Mon 10 August 2015 Royal Dutch Shell’s (RDSa.L) plans to build a strategic alliance with Russia’s Gazprom (GAZP.MM) could be in jeopardy after the United States added one of Gazprom’s biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement […]

New head of Nigeria’s state oil company sacks top management

By Julia Payne Aug 5 (Reuters) – The new head of Nigeria’s state oil firm dismissed senior managers after a government directive, the company said on Wednesday, barely a day after President Muhammadu Buhari appointed him as managing director. “All of the executive directors were let go … Buhari wanted a clean slate,” one of […]

Shell and Esso offload North Sea fields

Greig Cameron / Thursday 6 August 2015 SHELL and Esso have agreed to sell stakes in a cluster of North Sea fields for $105 million. Malaysian firms Ping Petroleum and Hibiscus Petroleum are each taking 50 per cent of the oil producing Anasuria assets, located around 175 kilometres east of Aberdeen. That includes the Guillemot […]

To please investors, Big Oil makes deepest cuts in a generation

August 7, 2015 Oil companies are making the largest cost cuts in a generation to reassure investors. They’re risking their own future growth. From Chevron Corp to Royal Dutch Shell, producers are firing thousands of workers and cancelling investments to defend their dividends. Cutbacks across the industry total $US180 billion so far this year, the most […]

Inside Shell’s Extreme Plan to Drill for Oil in the Arctic

by Paul Barrett and Benjamin Elgin: 5 August 2015: BLOOMBERG.COM Protesters near the Polar Pioneer.: Photographer: Keri Coles/Greenpeace In a windowless conference room in Anchorage, a dozen Royal Dutch Shell employees report on the highest-profile oil project in the multinational’s vast global portfolio. Warmed by mid-July temperatures, Arctic ice in the Chukchi Sea, northwest of the Alaskan mainland, […]

Oil companies’ grim outlook weigh on investors’ sentiment

By Bloomberg | 4 August 2015 NEW YORK: The world’s biggest oil companies are painting a grim picture of the future and speculators are listening. Hedge funds reduced bullish bets to the lowest level in five years as oil capped the worst month since the financial crisis. The net-long position in West Texas Intermediate contracted 7 […]

Exxon knew of climate change in 1981, email says – but it funded deniers for 27 more years

Exxon knew of climate change in 1981, email says – but it funded deniers for 27 more years Suzanne Goldenberg, US environment correspondent Last modified on Thursday 9 July 2015  ExxonMobil, the world’s biggest oil company, knew as early as 1981 of climate change – seven years before it became a public issue, according to […]

ExxonMobil Indonesian Villagers Human Rights Abuse Case to Proceed in Federal Court

ExxonMobil Indonesian Villagers Human Rights Abuse Case to Proceed in Federal Court In the interim, in 2010, the Supreme Court restricted the types of claims that could be heard under the Alien Tort Statute in Kiobel v. Royal Dutch Petroleum, a case involving allegations of human rights abuses by Royal Dutch Shell in Nigeria. WASHINGTON, […]

Logistics and Lizards Disrupt Chevron’s Project Off Australia

Chevron agreed to share the cost with Exxon Mobil, Shell and three Japanese power companies, Osaka Gas, Tokyo Gas and Chubu Electric Power. “This is probably the last of the megaprojects for the oil companies for a while…” By A. ODYSSEUS PATRICK: JULY 3, 2015 SYDNEY, Australia — Getting anything to Chevron’s gas-processing plant on Barrow Island […]

Royal Dutch Shell CEO Blames Saudi Arabia For Slowed US Shale Growth

Bidness Etc takes a look at how Saudi Arabia led to slowed growth of the US shale oil industry By: MICHEAL KAUFMAN: Published: Jul 2, 2015 at 9:37 am EST The Organization of Petroleum Exporting Countries (OPEC), led by Saud Arabia, usually monitors the crude oil supplies and prices prevailing in the market. The US energy […]

Arctic Drilling Future Now Rests On One Well

By Charles Kennedy: Wed, 01 July 2015 Royal Dutch Shell is nearing a start to drilling in the Arctic, but has run into some hiccups. The U.S. government decided that Shell cannot actually drill both of its wells in the Chukchi Sea as planned. The Interior Department said that doing so would run afoul of its […]

Dutch government cuts Groningen gas field production

Dutch government cuts Groningen gas field production By Carl Surran: 23 June 2015 The Dutch government has ordered a further tightening of production at Groningen, Europe’s largest gas field, in response to earthquakes that have caused extensive property damage in the Netherlands’ northernmost province. Production at the field will be capped at 13.5B cm in […]

Are European Companies Ignoring E.U. Sanctions On Russia?

Are European Companies Ignoring E.U. Sanctions On Russia? Kenneth Rapoza: 22 June 2015 …some very powerful entities in the E.U. have had it with sanctions. For example, Gazprom, Shell, E.ON and Austria’s OMV Group signed a memorandum last Thursday… It’s been nearly a year since sectoral sanctions were slapped on Russia for its involvement in helping […]

We Must Stop Shell Oil

We Must Stop Shell Oil Jane Fonda Activist, advocate and actress I’ve been in Vancouver for two days where I joined with Greenpeace activists, First Nations peoples, parents, grandparents, professors, students at an amazing 6-hour “Toast The Coast” rally on Jericho Beach to celebrate the pristine beauty of the Northwest coastline and to stop Big Oil […]

U.S. Ousts Russia as Top World Oil, Gas Producer

Article by Rakteem Katakey published 10 June 2015 by The U.S. has taken Russia’s crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields. U.S. oil production rose to a record last year, gaining 1.6 million barrels a day, according […]

Royal Dutch Shell stock has fallen by over 26% in the last year

By: MICHEAL KAUFMAN: Published: Jun 10, 2015  The stock for Royal Dutch Shell Plc. (ADR) (NYSE:RDS.A) has fallen by over 26% in the last one year. The S&P 500 during the same period rose by 6.71%. The decline in the stock prices of energy companies has been a norm. Over the last one year, crude oil […]