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Posts under ‘Forbes’

Crisis In The Arctic

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Screen Shot 2015-07-31 at 12.52.57Brigham A. McCownCONTRIBUTOR: 3 August 2015

Last week, Greenpeace activists succeeded in temporarily halting Shell’s icebreaker, MSV Fennica, from starting its voyage out of Portland, Oregon. The vessel was to join the rest of the fleet on its way to the Artic to begin oil exploration. In defiance of a federal court injunction to halt river traffic, 13 Greenpeace activists hung off St. Johns Bridge while kayaks below blocked the waterway, preventing the ship from passing under the bridge. After a day of delays, the vessel left Oregon early Friday morning with the help of law enforcement, after a federal judge found Greenpeace in contempt and fined them $17,500 for impeding the ships progress. read more

Choose Shell Over Greenpeace For Arctic Oil And Natural Gas

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Jude Clemente2 August 2015

Greenpeace’s ongoing attack on Royal Dutch Shell is a concern for energy resource and thus human development around the world. It failed, but Greenpeace just tried to stop Shell’s icebreaker from leaving port in Portland, Oregon, in the hopes of blocking Shell’s drilling plans in the Arctic. Greenpeacers dangled from ropes off St. Johns Bridge to stop the Arctic drilling ship. A federal judge in Alaska ordered Greenpeace to pay $2,500 for every hour that protesters block the icebreaker from leaving Portland. read more

Greenpeace 1, Shell 1

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Screen Shot 2015-07-31 at 19.22.09 Himler Contributor: Media, tech & marketing through the eyes of a seasoned PR strategist. : 31 July 2015

It was the early nineties and I was headed down to Houston with a video crew in tow. Our task: to capture generic footage of motorists filling up at Shell gas stations for use as part of a satellite news feed for an imminent company news announcement.

During the planning and prep session with Shell Oil Company’s CEO, its head of refining and others, I was informed that this would be the company’s first-ever news conference(!). Shell planned to introduce the nation’s first “environmentally enhanced” gasoline*, SU2000E, and we were retained to mount the presser and feed the footage to the dozen cities in which would be available. read more

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

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Screen Shot 2015-06-18 at 22.09.48Are 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 create a frozen conflict in Eastern Ukraine. European and American companies banned financing of Russian energy firms, and banks. They banned any joint venture deals with Russian oil and gas companies that involved exploration and production, or the selling of technologies used in E&P. But if a string of memorandum of understandings signed during last week’s St. Petersburg International Forum puts anything in the spotlight this week it is this: some very powerful entities in the E.U. have had it with sanctions. read more

Saudi Arabia Lets The World Drown In Oil

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Article by Nathan Vardi: Forbes Staff: Friday 5 June 2015

To the surprise of nobody, Saudi Arabia and the other OPEC member states decided in Vienna on Friday to maintain production targets of 30 million barrels a day, making sure the world remains flooded with oil. The fact that OPEC—particularly the core countries of Saudi Arabia, Kuwait and the United Arab Emirates—have refused to play their traditional stabilizing role and cut oil production makes it less likely that oil prices will rebound to the $115 a barrel level that was reached about one year ago. read more

Big Data In Big Oil: How Shell Uses Analytics To Drive Business Success

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By Bernard Marr:  26 May 2015

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The oil and gas industries are facing major challenges – the costs of extraction are rising and the turbulent state of international politics adds to the difficulties of exploration and drilling for new reserves. In the face of big problems, its key players are turning to Big Data in the hope of finding solutions to these pressing issues.

Big Data is the name used to describe the theory and practice of applying advanced computer analysis to the ever-growing amount of digital information that we can collect and store from the world around us. Over the last few years businesses in every industry have enthusiastically developed data-led strategies for overcoming problems and solving challenges, and the oil and gas industries are no different. read more

Shell Makes A Huge Bet On LNG and Pre-Salt

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Anglo-Dutch oil major, Royal Dutch Shell Plc., recently announced plans for a mammoth – $70 billion – acquisition of BG Group Plc. to further extend its leadership position in the global LNG (liquefied natural gas) market and increase its exposure towards the exploration and development of deepwater hydrocarbon reserves, primarily the pre-salt reserves offshore Brazil.

The company plans to acquire BG Group in a cash and stock deal valued at 1,350 pence per BG share. The company will pay BG shareholders 383 pence in cash and 0.4454 class B shares in itself for each share of BG held. read more

Shell, With $70B Deal For BG Group, Becomes World LNG Giant

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Screen Shot 2015-04-08 at 08.12.04Christopher Helman

So this is how the consolidation starts. Royal Dutch Shell is making a smart move in its $70 billion acquisition of BG Group . The deal will gain Shell access to the most exciting deepwater oil projects in the world, in Brazil. While adding in BG Group’s fast-growing liquefied natural gas business will soon make Shell the undisputed world leader in LNG. The combination will set Shell on the path to unseat Exxon Mobil XOM -1.95% as the world’s biggest oil company — at least until the next big acquisition is revealed. read more

Seattle’s Silly War On Oil Rigs

Screen Shot 2015-03-02 at 19.49.45From an article by Loren Steffy published 16 March 2015 by Forbes.com under the headline:

Seattle’s Silly War On Oil Rigs: Reminder, The City Is Also Home To Boeing, The World’s Largest Jet Maker

If a plane flies over Seattle, does anyone hear it? Probably not, because they’re all down at the docks protesting the parking of drilling rigs used in the Arctic. When the port of Seattle agreed to allow Shell to park drill ships on the city’s waterfront, a “kind of civic call to arms” erupted, according to the New York Times.

A unanimous City Council lined up alongside the mayor to question the legality of the agreement with the Port of Seattle, a court challenge was filed by environmental groups, and protesters, in bluster or bluff, vowed to block the rigs’ arrival — though the exact timetable is secret, for security reasons — with a flotilla of kayaks in Elliott Bay. read more

Investors Freak: Oil on its way down to $20 A Barrel?

Screen Shot 2015-01-02 at 23.58.26From an article by Christopher Helman published by Forbes.com on 6 Jan 2015 under the headline:

“Investors Freak As Saudi Inaction Could Sink Oil To $20 A Barrel. Time To Buy?

OPEC is not going to come to the rescue. It is up to American producers to cut oil supplies.

The world freaked out over oil Monday. U.S. crude fell as low as $49.77 a barrel, down about 6%. Brent crude is at $53. This is the lowest price since early 2009, when oil bottomed at $35 less than nine months after hitting a record high of $147.

The Dow Jones Industrial Average fell 331 points Monday. Many reports have blamed oil for the stock market weakness, but that doesn’t really make much sense. All else equal, low oil prices are a boon to economic growth. And besides, considering how high the Dow has risen, 330 points just ain’t what it used to be — merely a 1.8% move. Back in 2008 the Dow suffered 11 days with losses of 4% or more. read more

Big Oil’s $3 Billion Homage to Nazi War Criminal

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The biggest vessel in the world, the Pieter Schelte (above) has been built by Daewoo in South Korea. Swiss company Allseas commissioned the building of the huge $1.7bn ship. Both the legs and main structure of a rig can be moved simultaneously (shown in illustration)

Article by Eamonn Fingleton published by Forbes.com: 20 December 2014

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Big Oil’s $3 Billion Homage to Nazi War Criminal

Ships don’t come bigger than the Pieter Schelte. They don’t come more controversial either. Built in Korea at a cost of nearly $3 billion, the gargantuan new ship is now sailing towards the Netherlands, where it will soon enter service in the European offshore oil industry.

A huge catamaran, it weighs 932,000 tons, a world record, and nearly 18 times the Titanic. It will lift offshore oil rigs weighing up to 48,000 tons, again a world record. So much for the technicalities – but there is, ahem, a slight political problem: the ship’s name. read more

Authorities likely to wave through a Shell BP merger

Screen Shot 2014-10-28 at 12.29.57EXTRACTS FROM A FORBES.COM ARTICLE BY TIM WORSTALL PUBLISHED 6 DECEMBER 2014

If Royal Dutch Shell Buys BP Should The Authorities Ban The Purchase?

There’s interesting (and fun!) rumors floating around the London market that Royal Dutch Shell might attempt to purchase BP. These sorts of mergers (or takeovers) aren’t unusual in a commodity business like oil at a time of weak prices.

Here’s the story swirling around:

One of Britain’s oldest oil companies BP could be about to be sold to its biggest rival for a fiver per share.

The rumoured deal, if realised, would complete one of the most ignominious falls for the once great Persian Oil company that powered Britain’s Navy to victory during the First World War. read more

Declining coal production in the U.S.

From a Regular Contributor

The following link is about the approaching end of cheap and easy coal from the surface mines in the Western part of the US, specifically Wyoming. These reserves are approaching depletion. That is good for the planet but not necessarily good for electricity consumers in the US, China, and Europe.

The end of cheap easy coal? – Mountain Town News

However, the cost of renewable energy keeps dropping and is now almost cost competitive with coal, given that the price per ton of coal has doubled in the last 10 years. read more

Shell shareholders can only wish that they had never heard of Alaska

Screen Shot 2014-08-06 at 09.25.26By John Donovan

Christopher Helman of Forbes has neatly summarised the misadventures of Royal Dutch Shell in Alaska…

“Consider for a second the $5 billion misadventure that Royal Dutch Shell has had in Alaska. Here’s a quick recap: In 2008 Shell acquired the rights to exploration blocks in the Beaufort Sea north of the North Slope. Shell, in 2012 (after years of studying whales and seals, negotiating with the native peoples, and satisfying draconian EPA rules governing diesel emissions in the middle of freaking nowhere) finally floated its Kulluk drillship into the Beaufort, where it only got to drill for a few weeks before having to be towed back to port lest icebergs crush it. On the way out it got grounded on the rocks of Kodiak Island. Shell decided to press pause on its Alaska project, and Shell shareholders can only wish that they had never heard of Alaska.” read more

BP And Shell Have Problems, But Manageable Ones, With The Russian Sanctions

Screen Shot 2014-04-26 at 10.44.49Extract from a Forbes article by Tim Worstall published 29 April 2014

The imposition of sanctions on various Russian people and organisations over the Ukraine threatened to pose a number of problems for the big energy companies, especially BP and Shell. If Rosneft itself were placed on the list, for example, or Gazprom, the the respective situations for BP and Shell would change markedly. …obviously neither of them is going to flout the law of a country where they have such considerable interests, as they do in the US.  read more

What The Hell, Shell? Oil Giant Warns On Disastrous Quarter

Screen Shot 2013-10-01 at 07.56.54Royal Dutch Shell released a dreadful profit warning today. …a few more quarters like this one and the pressure will mount on CEO van Beurden to start slashing that capex and put Shell into a managed shrink-down like CEO Robert Dudley has been forced to do at BP. Earlier this week The Financial Times reported that Shell plans to divest some $15 billion worth of assets over the next two years. The magnitude of Shell’s shortcoming caught even the sharpest pencils off guard. “We’re a bit shell-shocked this morning after this profit warning… And we all remember its 2012 arctic drilling fiasco in Alaska. All told, mighty Shell is losing money on its oil and gas fields in the United States.

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Christopher Helman, Forbes Staff: 1/17/2014 @ 9:46AM

Royal Dutch Shell released a dreadful profit warning today. Fourth quarter earnings are expected to come in at $2.2 billion, down from $7.3 billion a year ago. Full year earnings will be down almost 40% to $16.8 billion. Upstream earnings were off 45% year-over-year, while downstream refining earnings plunged 58%. Topping it off, in the past year Shell’s oil and gas volumes have slumped roughly 13% to 2.9 million barrels of oil (and natural gas equivalents) per day. read more

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