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Posts under ‘Gas’

Dutch government says sorry for quakes caused by Groningen gas field

Mar 2 2015, 15:19 ET | By: Carl Surran, Seeking Alpha News Editor The Dutch government apologizes for ignoring risks posed by earthquakes caused by production of natural gas from the Groningen field, following a report last month by the country’s safety board that found the government, together with Royal Dutch Shell (RDS.A, RDS.B) and […]

Bells toll for Europe’s largest gas field

It accused the government and the field’s operators, Royal Dutch Shell and Exxon Mobil Corp, of ignoring the threat of earthquakes linked to the massive Groningen gas field for years. Toby Sterling | Reuters WESTERWIJTWERD, Netherlands – Dutch church bells that for centuries have tolled to warn of floods across the low-lying countryside are sounding […]

Salym Shell development in Siberia

By Olga Ivshina, BBC News, Western Siberia, published 27 Nov 2014 under the headline: Russian oil industry facing deep freeze Without visiting a well in Western Siberia, you would never realise just how hard it is to extract oil in Russia. Two hours’ drive from the nearest village of Salym, the snow banks are huge and […]

Groningen Gas Field Shock: Risk of earthquakes at 4.6 on the Richter scale

From an article published 24 February 2015 by DutchNews.nl under the headline: Groningen facing stronger earthquakes as gas field empties: report The province of Groningen will be hit hard with additional seismic activity hitting the gas fields by more and heavier earthquakes, according to a scientific report of Shell employees and NAM. Last week, the safety research […]

Oil and gas industry in ‘bleak’ 2014, finds survey

FROM A BBC ARTICLE PUBLISHED 24 FEB 2015 Oil and gas industry in ‘bleak’ 2014, finds survey The UK offshore oil and gas industry has reported its worst annual performance for four decades. Industry body Oil & Gas UK said falling oil prices and rising costs meant the sector spent and invested £5.3bn more than […]

Shell Replaced Only 26% Of Its Produced Reserves In 2014

From an article by Zoltan Ban published 23 Feb 2015 by Seeking Alpha under the headline: Shell Replaced Only 26% Of Its Produced Reserves In 2014 Summary Shell replaced only 26% of its produced reserves in 2014. The three year average rate of reserve replacement is 67%. Even with potential for growth in the downstream, […]

Shell and Exxon ignored seismic dangers at Groningen Gas Field

Danger of earthquakes at Groningen gas field ignored – Dutch safety board Feb 18 (Reuters) – The dangers caused by gas extraction at the massive Groningen field were ignored for years by operators Royal Dutch Shell, Exxon Mobil Corp and government agencies, the Dutch Safety Board said in a report on Wednesday. A correlation between […]

The credibility of Royal Dutch Shell oil demand forecasts

By John Donovan Forecasts of future oil demand and oil prices made by Royal Dutch Shell CEO Ben van Beurden have been widely reported. See syndicated Reuters article. He is not exactly a disinterested independent observer, as his personal income and the well-being and profitability of the oil company he leads, depends on these issues. […]

Shell criticised after Brent Delta worker hurt by flying cylinder

From a BBC News article published 11 February 2015 Oil firm Shell has been criticised after an offshore worker was seriously injured when a compressed gas cylinder flew through the air and hit him. The incident happened on the Brent Delta platform in the North Sea on 10 November. The Health and Safety Executive (HSE) […]

Dutch cabinet acts in response to Groningen gas field earthquakes

Dutch cabinet limits gas extraction in Groningen The field is operated by the Nederlandse Aardolie Maatschappij (NAM), a joint venture between Royal Dutch Shell and ExxonMobil with each company owning a 50 percent share. THE HAGUE, Feb. 9 2015 (Xinhua) — The Dutch government has temporarily limited the lucrative gas extraction in Europe’s largest natural […]

Big Oil Unable To Increase Reserves To Counter Declining Production

Bidness Etc discusses why major oil firms have been unable to replace their new reserves, despite crude production level falling since last year amid tumbling crude price By: MICHEAL KAUFMAN: Published: Feb 8, 2015 at 8:40 am EST According to the quarterly results announced during the past few weeks, major oil companies have reported a mediocre […]

Oil companies Arctic projects in deep freeze

Information and graphic sourced from an FT article by Richard Milne in Oslo, Christopher Adams in London and Ed Crooks in New York, published 6 February 2015. The first of two drilling rigs contracted by Shell will soon leave Singapore and once sea ice has sufficiently receded, will embark on a summer drilling project in U.S. […]

Ben van Beurden: Proposed Arrow LNG Project with PetroChina cancelled

From an article by The Australian Pipeliner published 3 Feb 2015 under the headline: VIDEO: Arrow LNG Project “off the table” Royal Dutch Shell CEO Ben van Beurden has confirmed the company’s proposed Arrow LNG Project with PetroChina has been cancelled, but the Arrow Bowen Pipeline will not be affected. Arrow Energy, which is jointly […]

Oil rout gives Exxon and Shell reason to buy rival ‘sisters’

…a major deal over the next year that will bring together two of the super majors, or see one of their smaller rivals swallowed up, is highly likely – and almost a certainty if historical precedent is anything to go by. Certainly, if the oil rout of the late 90s is anything to go by, a […]

Shell overstated its fourth quarter results by $178 million

Fri Jan 30, 2015 4:48pm GMT (Reuters) – Royal Dutch Shell (RDSa.L) said on Friday it had overstated its fourth quarter results by $178 million (118.44 million pounds) due to an error in the valuation of its fuel inventory. The company said its underlying earnings, which are most closely watched by analysts and investors, were […]

Shell shelves Arrow LNG project in Queensland

From an article by Angela Macdonald-Smith published 30 Jan 2015 by The Sydney Morning Herald under the headline: “Shell shelves Arrow LNG project in Queensland” Royal Dutch Shell has finally ditched plans for a new $US20 billion-plus liquefied natural gas project in Queensland,making it the latest casualty of the oil price slump. Global chief executive […]

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