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Posts under ‘Gulf of Mexico’

Financial calamity could engulf Shell in event of a Prelude FLNG or Arctic Disaster

To the best of my knowledge, both Shell projects are fraught with danger, are pushing the bounds of technology, have attracted risk warnings from experts and are self-insured by Shell because no commercial contingency insurance specialists are willing to provide cover.  By John Donovan An article published today by Reuters gives some idea of the […]

Shell Oil Boss Marvin Odum Should Resign after Alaskan Debacle

Now we have further confirmation that Shell was trying to dodge a multimillion tax bill. This time confirmation comes from the findings of an investigation by the Coast Guard division of US Homeland Security. There are going to be more Royal Dutch Shell executives looking for alternative employment… And Marvin Odum, Shell’s boss in the […]

Shell’s Mr Fixit hammers home a message of capital discipline

Extract from a highly informative article by Guy Chazan published on 1 April 2014 by The Financial Times Late last year, for example, Shell decided not to proceed with a multibillion-dollar plant on the US Gulf Coast that would have converted gas into synthetic diesel. Unusually, it canned the project before it had even carried […]

Shell expands Gulf of Mexico portfolio

Article published 20 March 2014 by PennEnergy (from a Shell Press Release) under the headline: “Shell expands Gulf of Mexico portfolio in Lease Sale 231“   Shell continues to build upon a strong position in the Central Gulf of Mexico and is the apparent high bidder on 4 blocks during today’s US Bureau of Ocean […]

Royal Dutch Shell Plc’s Greatest Weaknesses

An article by Kevin Godbold published on Wednesday 12 March 2014 by The Motley Fool Drilling for oil is a dangerous business. We only need to look across at the firm’s rival BP and its 2010 Gulf-of-Mexico disaster to see how a drilling accident can financially cripple even a major oil company for years. Shell […]

When Shell was forced to abandon $80 million Deep Mensa well

By John Donovan In 2002, Royal Dutch Shell had a close call in the Gulf of Mexico when the oil giant was “forced to abandon drilling an $80 million well at a prospect called Deep Mensa in the Mississippi Canyon after the drill bit got stuck at nearly 28,000 feet attempting to drill through fractured […]

Shell starts first post-Macondo Gulf of Mexico platform

By Kristen Hays HOUSTON, Feb 4 (Reuters) – Royal Dutch Shell said on Tuesday it is ramping up production at its newest Gulf of Mexico oil and gas platform, its first to start up after BP Plc’s 2010 Macondo oil spill fouled the basin and stopped drilling for months. Shell’s Olympus platform, towed out to […]

Shell starts production from second Mars platform in deep water Gulf of Mexico

News and Media Releases Shell starts production from second Mars platform in deep water Gulf of Mexico 04 Feb 2014 Shell today announces it has begun production from the Mars B development through Olympus – the company’s seventh, and largest, floating deep-water platform in the Gulf of Mexico. It is the first deep-water project in […]

BP Employees Outraged by Lack of Compensation

BP Employees, Outraged by Lack of Compensation, Warn Oil Spill Victims Tuesday, 21 January 2014 09:41 By Dahr Jamail, Truthout  Long-term employees accuse oil giant BP of greed, exploitation and lying about their pensions. Earlier this month BP’s attempts to curb compensation payouts to those impacted by its 2010 Gulf of Mexico disaster failed after […]

BP back in favour despite spill legacy, Russia doubts

COMMENT RECEIVED:  In this article there is a comment from Peter Voser about a possible need for a rescue of BP by Shell following the Macondo disaster in 2010. Knowing that merger negotiations between Shell and BP also occurred more recently, one possible interpretation of the article is that BP’s own strategy might help Shell […]

Energy giants battle to pump profits

At 55, Van Beurden, who replaced Peter Voser earlier this month, is a 30-year veteran at Shell where his career has mainly been focused on managing downstream businesses such as refining and chemicals. This week, as he announces full-year earnings, City analysts expect him to unveil details of a potential $15bn to $30bn (£9.1bn to […]

Shell CEO plays ‘new boss’ card

Royal Dutch Shell’s chief executive Ben van Beurden has, on the face of it, played the classic “new boss” card – using a barely justified profit warning to brighten his own future by making the past look bad. The truth is quite different, the energy company says, and possibly far more worrying for investors.  ”After taking […]

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

Royal 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 […]

Green Groups Call Shell’s Arctic Drilling Plan Incomplete

Law360, Los Angeles (January 10, 2014, 6:30 PM ET) — The Alaska Wilderness League, Greenpeace and other conservation groups told the U.S. Department of the Interior’s Bureau of Ocean Energy Management on Thursday that Shell Gulf of Mexico Inc.’s revised exploration plan for the Chukchi Sea was incomplete and flawed. Access to full article subject […]