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Posts under ‘Gulf of Mexico’

New safety rules for offshore Arctic drilling proposed to avoid repeat of Shell disaster

New safety rules for offshore Arctic drilling proposed to avoid repeat of Shell disaster US officials want to make sure companies can handle a blow-out in remote and icy conditions – without inflicting an environmental disaster Suzanne Goldenberg in Washington The Obama administration proposed new rules for Arctic oil drilling on Friday in an attempt […]

BP loses bid to cut maximum $13.7 billion Gulf spill fine

BY JONATHAN STEMPEL Thu Feb 19, 2015 9:04pm EST (Reuters) – A U.S. judge on Thursday rejected BP Plc’s (BP.L) attempt to reduce the maximum civil fine it could face for its role in the 2010 Gulf of Mexico oil spill, leaving it potentially liable to pay $13.7 billion under the federal Clean Water Act. […]

BP Shell merger on the horizon

Potentially, a prolonged period of low oil prices might finally see BP and Shell, like two drunken sailors, holding each other up through the merger that has so long been on the horizon. AN ARTICLE BY ALEX BRUMMER FOR THE DAILY MAIL PUBLISHED 30 Jan 2015  “ALEX BRUMMER: Big oil players confront the slump by slashing capital […]

Nazi rat lines and Pieter Schelte Heerema

by Ton Biesemaat, Dutch investigative journalist …there is overwhelming proof that Pieter Schelte Heerema remained a staunch Nazi until his death. Yet the world does not seem to care when one of the largest ships is named after this man  There is a lot of media noise about one of the world’s largest ships, which […]

Why Shell And Exxon Are Interested In Gulf Of Mexico Bidding

By: MICHEAL KAUFMAN: Published: Jan 21, 2015 Some of the largest global oil producers have shown an early interest in the first phase of Mexico’s bidding round for blocks of exploratory crude oil and natural gas, located in the Deepwater region of Gulf of Mexico. According to a Mexican government official, the oil and gas blocks […]

Blood in the water

Mergers offer a chance to cut costs and save money. Prices are low. BP, now fit, lean and cheap, is not best placed to go shopping itself. So it could be on someone else’s list. The oil giant’s troubles could make it a takeover target, especially if the price of crude keeps falling INVESTORS in […]

BP sees $50 oil for three years

BP can’t be immune to the upheaval. Today its job announcement is focused on the UK. But it won’t be long till it announces staff reductions in Houston, another of its important centres. Robert Peston article published by BBC News 15 Jan 2015 BP sees $50 oil for three years BP’s job announcement later today, […]

BP To Cut Jobs And Capital Spending

Bidness Etc discusses the capital spending reduction and job cuts planned by BP for this year and the reasons for doing so. Future prospects of the oil giant are also looked upon By: MICHEAL KAUFMAN Published: Jan 8, 2015 at 8:56 am EST BP plc (ADR) (NYSE:BP) is looking to divest more assets in the […]

High Noon on oil prices: OPEC vs U.S. Shale

From an article by Catherine Ngai published on 6 Jan 2015 by Reuters under the headline:  “High Noon on the Gulf Coast: Canada, Saudi oil set for showdown” NEW YORK (Reuters) – As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian […]

Why A BP Shell Merger Is Not A Sensible Option

Why A BP plc (BP) Royal Dutch Shell Merger Is Not A Sensible Option Bidness Etc discusses how lower oil prices have impacted BP’s stock price, and why the merger with Royal Dutch Shell is not on the cards By: MICHEAL KAUFMAN Published: Jan 6, 2015 at 9:46 am EST Crude oil prices have declined […]

Shell must put BP out of its misery

Article by Jeremy Warner published on 4 Jan 2015 in The Sunday Telegraph Valued at nearly £140bn, Shell is today worth almost twice as much as BP. Shell must put BP out of its misery before anyone else pounces. Here’s an idea that has investment bankers drooling in anticipation, but needs to be killed off here […]

PETER VOSER JOINS ANOTHER SCANDAL RIDDEN COMPANY 

By John Donovan A posting today on our Shell Blog… When Peter Voser’s departure as CEO was announced, it was explained that Peter wanted time for his family, hobbies and to give back to society. Today it was announced that he’s being proposed as Chairman of ABB (his previous employer) and he also took a […]

Talk of Shell BP tie-up to create £200bn world leader

After a solid 10 hours locked in secret briefings at the Langham Hotel in London this week, 100 of BP’s top investors emerged into the crisp winter evening air to the grim news that oil prices had sunk to a new five-year low. From an article in The Sunday Telegraph 14 December 2014 by Andrew […]

Leaked BP CEO Internal Memo

It’s completed about $43 billion of asset sales since the 2010 oil spill in the Gulf of Mexico. The offshore disaster has cost London-based BP more than $28 billion in clean-up costs and damages, and the company is still fighting legal battles on multiple fronts. BLOOMBERG NEWS ARTICLE BP Chief Says Company Must Slim Down […]

WILL BP BE ABLE TO SURVIVE?

By: MICHEAL KAUFMAN Published: Dec 11, 2014 at 4:50 pm EST The operating cashflow for BP plc (ADR) (NYSE:BP) is expected to grow 5.3% between 2014 and 2017. BP is slightly above Royal Dutch Shell plc’s (ADR) (NYSE:RDS.A) growth rate of 4.1%.There have been several factors that have contributed to low expected growth for the […]

Why The US Supreme Court Rejected BP Appeal

By: MICHEAL KAUFMAN Published: Dec 9, 2014 at 4:11 pm EST BP plc (ADR) (NYSE:BP) was involved in America’s largest oil spill in the Gulf of Mexico in 2010, resulting in the death of 11 rig workers along with long-lasting damage to the wildlife and its habitat, and local businesses; a total of 4.9 million […]

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