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Posts under ‘Gulf of Mexico’

Myths about Shell’s Arctic Alaska pullout persist

Yereth Rosen: Alaska Dispatch News: October 3, 2015 When Royal Dutch Shell announced that it had lost its big-money bet in the Chukchi Sea and would end its entire program in the offshore U.S. Arctic, the hyperbole and finger-pointing began in earnest. Rep. Don Young accused President Obama and Interior Secretary Sally Jewell of deliberately sabotaging Alaska’s economy. “I’m […]

Shell boss confronts environmental, carbon challenges

On Monday, the oil and gas giant gritted its teeth and pulled out of one of the most ambitious, expensive and controversial exploration forays on the planet – Alaska. A project that could have delivered tens of billions of dollars instead delivered a dry well and, on Sunday, van Beurden and his team called it quits. […]

Shell’s Arctic oil well comes up dry

September 28, 2015 | By Jennifer A. Dlouhy WASHINGTON — After spending $7 billion and seven years searching for oil under Arctic waters, Royal Dutch Shell on Monday said its quest had come up dry. Shell announced that its exploratory oil well in the Chukchi Sea north of Alaska encountered “indications of oil and gas” […]

Shell awaiting green light to begin Nova Scotia offshore drilling

Shell says 90 per cent of the supply vessel staff will come from Nova Scotia 25 Sept 2015 Four ships are standing by in Halifax Harbour, waiting for Shell Canada Ltd. to get the green light to hunt for oil in the deep waters of Nova Scotia. The company expects to begin drilling two exploration wells […]


18 September 2015 The short drilling season for oil exploration in U.S. Arctic offshore waters will reach one stopping point Sept. 28 and a complete halt Oct. 31 for Royal Dutch Shell Plc. The company has been drilling since July 30 at the Burger prospect in the Chukchi Sea north of Alaska. If oil is […]

Shell’s big gamble: Oil wrangling at the far reaches of the Arctic frontier

By Steven Mufson September 11 Shell Oil Co.’s president Marvin Odum made the trip on Sept. 2 from Houston to this northern-most town in the United States, a spot whose traditional name, Ukpeagvik, means “place where snowy owls are hunted.” Odum is here hunting, too, for oil offshore and political support from Alaska Natives living […]

Shell bringing world’s deepest floating oil production vessel to Gulf of Mexico

By Jennifer Larino, | The Times-Picayune: 9 Sept 2015 Royal Dutch Shell has launched its first floating oil production, storage and offloading vessel in the Gulf of Mexico. The facility will operate in 9,500 feet of water, making it the deepest of its kind in the world. The vessel — named Turritella after a […]

Shell confirms has canceled Westward Ho pipeline project

HOUSTON | BY KRISTEN HAYS: Tue Sep 8, 2015 Royal Dutch Shell shelved its Louisiana-to-Texas Westward Ho pipeline after years of delays, reductions in scope and after other new pipelines began flowing, a spokeswoman confirmed on Tuesday. “After a thorough review and as a result of changing market conditions, Shell Pipeline Company LP has decided […]

Discussing the costs of disaster for offshore US oil : Regulation and Environment

In this week’s Oilgram News column, Regulation and Environment, Gary Gentile asks if the risks associated with ultra-deepwater oil production endeavors are properly disclosed to shareholders. By Gary Gentile | August 31, 2015 Opponents of offshore drilling in frontier environments, such as the Arctic, have opened up a new front in their effort to curtail such […]

President Obama Defends Shell Arctic Drilling Decision

By: MICHEAL KAUFMAN: Aug 29, 2015  Critics argue that allowing Shell to explore Arctic for oil goes against the country’s stance on climate change President Obama has defended his decision to grant approval for drilling in the Arctic region, ahead of his trip to Alaska. Royal Dutch Shell plc (ADR) (NYSE:RDS.A) had been seeking the […]

Shell offshore drilling application prompts conflict-of-interest charge

By Charles Mandel | August 29th 2015 Shell Canada Limited is applying to bring offshore drilling to Nova Scotia’s waters. But environmentalists are raising alarm bells over potential conflict of interest, as the group reviewing Shell’s application — the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) — includes a board member who worked at Shell Canada and […]

Obama defends Shell Arctic drilling decision

By AFP 29 August 2015 Two days before heading to Alaska to raise climate change awareness, US President Barack Obama on Saturday defended his controversial decision to allow Shell to drill in the Arctic’s Chukchi Sea. The Obama administration’s green light for the Anglo-Dutch oil giant angered environmental groups which have decried the “hypocrisy” of […]

Charlotte Church joins the campaign trail once again as she performs a requiem in musical protest over Arctic drilling

By REBECCA DAVISON FOR MAILONLINE: 26 August 2015 Singer Charlotte Church joined a protest rally outside the Shell headquarters in London on Wednesday in protest over Arctic drilling on behalf of Greenpeace.  The 29-year-old took to the streets to lead a performance of Requiem for Arctic Ice as well as The Bitter Earth outside the building, […]

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 […]

Hillary Clinton scuppers Shell’s plan to drill for oil in the Arctic

By CITY & FINANCE REPORTER FOR THE DAILY MAIL PUBLISHED: 19 August 2015 Royal Dutch Shell’s Arctic ambitions have sparked a political row in the US after presidential candidate Hillary Clinton opposed its plans. President Obama’s administration gave Shell the final green light to drill for oil and gas in the Arctic this week – which […]

BVB Personal Journey? Was it to a bank or a casino?

By John Donovan Royal Dutch Shell CEO Ben van Beurden claims that he has been on a personal journey in relation to authorising Shell’s latest Arctic gamble. All due credit for the courage needed to take such a huge risk. The same applies to Shell’s takeover of the BG Group and the alliance with the corrupt […]

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, […]

Shell toughens local project hurdles

Matt Chambers: Resources Reporter: Melbourne: 31 July 2015 Oil major Shell has laid down tougher hurdles for its Australian projects including Browse LNG off Western Australia and Arrow coal-seam gas in Queensland. It has cut the oil price at which new projects need to go ahead and flagged a major LNG project ­pipeline overhaul if its planned […]

Big oil to sharpen focus on costs after $200bn of cuts

Europe’s biggest oil companies have to find deeper cuts as oil prices expected to weigh on earnings By Andrew Critchlow, Commodities editor: 27 July 2015 Three of Europe’s biggest oil companies will report weaker earnings this week and the City is looking for guidance on how to mitigate a sustained slump in Brent crude prices […]

Not Deterred By Huge Risks, Shell Opts For Megaprojects

It is curious then that Royal Dutch Shell is not ready to give up on the huge complex oil project. It is only a few weeks away from starting to drill in the Chukchi Sea, a campaign that has cost the company somewhere in the neighborhood of $7 billion so far, with very little results […]

After Settlement, Relief at a Diminished BP

By STANLEY REED and CLIFFORD KRAUSS JULY 2, 2015 LONDON — BP’s future no longer has a giant cloud ahead. But it will take years, if not decades, for the company to approach its size of five years ago, before the explosion of the Deepwater Horizon rig. Since the 2010 blowout of the Macondo well killed […]

BP has finally settled Deepwater Horizon Case

Shares in oil giant BP climb on news it has finally settled long-running US court case over Deepwater Horizon explosion and oil spill Dudley dismissed market talk of a takeover of BP and said BP is ‘neither prey nor predator’. A clause in the settlement with the US means that if BP were sold to another […]

BP to pay £12bn for Gulf oil spill

2 July 2015 BP has reached an $18.7bn (£12bn) settlement with the US Department of Justice (DoJ) following the 2010 Gulf of Mexico oil spill. It comes as a US federal judge was expected to rule on how much BP owed in Clean Water Act penalties following the environmental disaster. Over 125 million gallons of […]

BP Pays Record $18.7 Billion to Settle Claims in Gulf Oil Spill

By Margaret Cronin Fisk, Laurel Brubaker Calkins and Del Quentin Wilber: July 2, 2015 1:13 PM BST BP Plc will pay a record $18.7 billion to resolve claims by the U.S. and five states along the Gulf of Mexico related to the 2010 oil spill. The payments will be spaced out over as long as […]

Shell goes ahead with giant Gulf of Mexico field after cost cuts

Shell goes ahead with giant Gulf of Mexico field after cost cuts Markets | Wed Jul 1, 2015 * Appomattox project set to start production by end of decade * Will be Shell’s largest platform in the region (Adds details, quotes, share price) By Ron Bousso LONDON, July 1 (Reuters) – Royal Dutch Shell has […]

Shell to tap new Gulf of Mexico oil

Shell to tap new Gulf of Mexico oil HOUSTON, July 1 (UPI) — Royal Dutch Shell said Wednesday it made a final investment decision to open up new oil developments in the deep waters of the U.S. Gulf of Mexico. Shell said it was moving forward with a decision to build what it says will […]

Shell Cleared For Exploration Off Nova Scotia

By Andy Tully: Posted on Wed, 17 June 2015 Shell Canada Ltd. is ready to begin exploratory drilling off the coast of Nova Scotia now that it has received conditional approval for the project from the country’s environmental minister. Canada’s Environmental Assessment Agency issued the decision the night of June 15 after the environmental minister, Leona […]

As Shell moves toward Arctic, industry decries regulations

Article by Jennifer A. Dlouhy published June 16, 2015 by The Houston Chronicle As Shell moves toward Arctic, industry decries regulations Industry leaders and allies in Congress say red tape will discourage Arctic exploration WASHINGTON – Even as Shell Oil Co. gets closer to drilling new exploratory wells in Alaska’s Chukchi Sea, industry leaders and their congressional […]

Shell gets go-ahead for Shelburne Basin drilling project

Shell gets go-ahead for Shelburne Basin drilling project SHERRI BORDEN COLLEY STAFF REPORTER: June 15, 2015  Shell Canada has received the green light to begin exploratory drilling off the coast of Nova Scotia later this year. The project cleared its final regulatory hurdle late Monday when federal Environment Minister Leona Aglukkaq gave the company conditional approval. […]

Shell removing non-essential workers from Gulf of Mexico

Shell removing non-essential workers from Gulf of Mexico Markets | Sun Jun 14, 2015 9:50pm EDT (Reuters) – Leading Gulf of Mexico oil producer Shell Oil Co, the U.S. arm of Royal Dutch Shell Plc , said it was removing non-essential workers from offshore platforms as a precautionary measure ahead of a low-pressure storm system […]

We May Not See Arctic Oil For Decades

We May Not See Arctic Oil For Decades SHELL MAY END UP WITH NOTHING By Nick Cunningham: Posted on Wed, 27 May 2015 Shell’s Arctic campaign this year will be pivotal. If the company cannot find large reserves of oil, it will likely set back Arctic oil development for a generation. The Financial Times reported that […]

Shell faces what amounts to an almost existential crisis

Analysts Downgrade Troubled Shell Given Mornigstar’s view that long-term oil prices will be well below $100 going forward, we don’t believe Shell’s has a lasting competitive advantage over its peers Stephen Simko, CFA 27 May, 2015 Shell (RDSB) faces what amounts to an almost existential crisis: even when oil prices were $100 its portfolio was […]

Exxon, Hunt among companies approved to bid on drilling in Gulf of Mexico

“Shell, the European oil giant, and Brazil’s national oil company Petrobras, both of which had initially explored pursuing drilling rights in Mexico, ultimately decided to pull their applications…” By JAMES OSBORNE: Staff Writer: Published: 26 May 2015  Exxon Mobil and Hunt Oil aren’t turning their backs on Mexico’s oil fields yet. The North Texas-based oil companies were […]

No Shell Arctic Oil Until 2030’s

By: MICHEAL KAUFMAN: Published: May 26, 2015  Royal Dutch Shell Plc’s (ADR) (NYSE:RDS.A) head of oil and gas production in Americas, Marvin Odum has told the Financial Times (FT) in an interview that the company’s Arctic drilling operations would take at least a decade to extract oil reserves, which would then be sent to production. The […]

Out to Stop Shell’s Giant Oil Rig

Extracts from a Rolling Stone article by ANTONIA JUHASZ published 22 May 2015 Meet the Rappers and ‘Kayaktivists’ Out to Stop Shell’s Giant Oil Rig …several hundred people trying to disrupt business as usual for the world’s largest oil company… Their target, Royal Dutch Shell’s 400-foot-long, 300-foot-tall offshore oil rig, dubbed the Polar Pioneer, was just out […]

Environmentalists score a little discussed big win in Arctic drilling plans

May 19 2015, 14:48 ET | By: Carl Surran, SA News Editor Environmentalists score a little discussed big win in Arctic drilling plans Environmentalists angered by the Obama administration’s approval of Royal Dutch Shell’s (RDS.A, RDS.B) broad plan for boring exploratory oil wells in the Chukchi Sea seem to have overlooked that they scored a […]

Shell braves a return to its Arctic ordeals: But, with oil at such a low price, why now?

By LAURA CHESTERS FOR THE DAILY MAIL: 13 May 2015 New Year’s Eve 2012 is a date Lieutenant Commander Jim Cooley will never forget. As part of the rescue team from the US Coast Guard he flew out in treacherous, stormy conditions to rescue 18 men aboard Royal Dutch Shell’s stranded Kulluk oil rig. Earlier that […]

Shell agrees to start clean up of 2008 Niger Delta oil spill

Shell agrees to start clean up of 2008 Niger Delta oil spill 2nd May 2015 Shell has agreed with Nigerian fishing community of Bodo in the Niger Delta to start the clean up of two devastating oil spills in 2008, activists and locals said Saturday. “Shell officials met with representatives of Bodo community in Port […]

Nigeria: Shell Rules Out Divestment in Nigeria, Others This Year

Article by Daniel Adugbo published 1 May 2015 by Shell Rules Out Divestment in Nigeria, Others This Year Royal Dutch Shell said yesterday it had reduced its expected 2015 capital expenditure (capex) to $33 billion from $35 billion as the company continues to adjust its business to the lower oil-price. Releasing its first-quarter results […]

Shell cuts 2015 capex, sees downstream downturn

Shell cuts 2015 capex, sees downstream downturn London (Platts)–30 Apr 2015 * Capex reduced by more than $2 billion * Decision on Majnoon development pushed back to 2017 * CFO says refining margins already worsening Shell said Thursday it had reduced its expected 2015 capital expenditure to $33 billion from previous guidance of a little […]