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Posts under ‘Exxon Mobil’

Kashagan project closed indefinitely

Extract from oilprice.com article by James Burgess published 23 April 2014 under the headline: “Kashagan Field Plans Pipeline Replacement” After weeks of review, the operators of Kazakhstan’s giant Kashagan oil field have concluded that pipelines carrying oil and gas will need to be replaced due to extensive damage. The consortium — which includes Eni, Total, […]

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 […]

Putin, Ukraine and Royal Dutch Shell

Sir Henri was fanatically anti-Soviet as a result of the confiscation of Shell oil fields in Russia. Might be best if Ben does not mention this past history to his new chum, Vlad the Bad, who is rather keen to restore the Soviet empire. “Had Putin asked ‘and now you kiss my ass’, I am sure van Beurden […]

Yet More Problems Hit the World’s Largest Oil Project

Extract from an article by Rupert Hargreaves published 16 April 2014 by The Motley Fool Simply put, H2S is eating away at the undersea pipelines, causing cracks and fractures. Gas needs to travel through these lines for the project to start production, and engineers can’t just patch the system up; the whole pipeline network may […]

Greenland in transition

Extracts from an article by Nick Snow published 14 April 2014 by Oil & Gas Journal Greenland expects its oil, gas, and minerals to be crucial as it continues its gradual transition to independence, its first US representative said on Apr. 3. “We have begun developing our oil and gas,” noted Inuuteq Holm Olsen, who […]

U.S. eyes European safety standards for oil refineries

Extracts from an article by Susan Buchanan published 14 April 2014 in “The Louisiana Weekly” and The Huffington Post Oil refiners can learn from Europe as they try to reduce accidents at plants in Louisiana and other states, U.S. safety experts say. After a string of disasters, President Obama issued an executive order last August […]

Another blow to Royal Dutch Shell

Extract from a Steve LeVine article published 6 April 2014 by qz.com under the headline: “Kazakhstan’s largest oilfield will be shut down for at least two years” Kashagan will be shut for at least two years while specialty pipelines are made to resist the unforeseen impact of toxic gas, according to a source close to […]

Kashagan oil field: Stuck between ‘a widow maker’ and ‘a rotating bomb’

Extracts from a Reuters INSIGHT article by Oleg Vukmanovic and Stephen Jewkes published 3 April 2014 Western oil majors struggling to restart production at one of the world’s biggest offshore oilfields in Kazakhstan have found that whole kilometres of pipeline are defective, two people recently returned from the $50 billion project say. Oil company investigators […]

Kashagan aka Cash All Gone

Extracts from an article by Rupert Hargreaves published by The Motley Fool on Mar 31st 2014 under the headline: ExxonMobil Is Spending Plenty but Growth Is Just Around the Corner The Kashagan field is the largest oil discovery in 40 years, and the project to develop the field has required so much investment and expertise […]

Crackdown on Russia Could Hurt Western Oil

Extracts from an article by CLIFFORD KRAUSS published in print on March 28, 2014, on page B1 of the New York edition of The New York Times with the headline: Crackdown on Russia Could Hurt Western Oil. As the United States seeks to strengthen sanctions on Moscow for its occupation of Crimea, energy experts say […]

Shell undergoing massive sell off to fix its balance sheet

Extracts from an article poublished Monday 24 March 2014 by MarketWatch under the headline: Ghana’s Jubilee Points to Best Offshore Acreage in the World LONDON / ACCESSWIRE / March 24, 2014 / The oil industry hasn’t started off 2014 with a bang. The oil majors – ExxonMobil, Royal Dutch Shell, Chevron, BP – all posted […]

Exxon’s ‘Bromance’ With The Kremlin

Extracts from a Forbes article by Christopher Helman published on 20 March 2014 under the headline:Will Exxon’s ‘Bromance’ With The Kremlin Help Keep Putin In Check? ExxonMobil CEO Rex Tillerson has a good relationship with Vladimir Putin. If you do a Google image search for the two men, you’ll see a dozen shots of them together, […]

Big Oil Drowning in Extremely High Project Costs

Extracts from a Matt DiLallo article published 17 March 2014 by The Motley Fool Big oil has a big problem. Cost overruns around the globe are calling into question the commercial viability of many megaprojects. When Gorgon was approved, the project was expected to cost about $37 billion. However, late last year, Chevron raised the […]

Cash All Gone

Extracts from an article by Jim Landers published on 10 March 2014 by The Dallas Morning News under the headline: “Petroleum project costs worldwide benefit Texas prospect” The cost of developing the world’s largest oil and natural gas fields has reached heights straining the budgets of even the largest oil companies. Royal Dutch Shell, Exxon […]