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Posts under ‘Gulf of Mexico’

What the BP Oil Disaster Tells Us About Arctic Drilling: Keep Out!

BY CAROL BROWNER AND MICHAEL CONATHAN 4/20/15 Five years ago today, an explosion on board the oil rig Deepwater Horizon killed 11 men and unleashed one of the largest and costliest offshore oil disaster this nation has ever experienced. By the end of 2014, BP, the company primarily responsible for the disaster, estimated the overall […]

Shell standing above its peers

Article by Daniel J. Graeber published 13 April 2015 by UPI Shell standing above its peers LONDON, April 13 (UPI) — Shell’s grab of energy giant BG Group and a legal victory for frontier work offshore Alaska leaves rivals in the dust, though environmentalist are unimpressed. The board of directors at Shell and BG group issued […]

New Sea Drilling Rule Planned, 5 Years After BP Oil Spill

Article by CORAL DAVENPORT published APRIL 10, 2015 by The New York Times New Sea Drilling Rule Planned, 5 Years After BP Oil Spill WASHINGTON — The Obama administration is planning to impose a major new regulation on offshore oil and gas drilling to try to prevent the kind of explosions that caused the catastrophic BP […]

Why we all should care about the oil platform explosion that just happened in Mexico

This image, one of several that were made available to Greenpeace by anonymous workers, shows smoke and fire on the shallow-water Abkatun, a permanent platform in the Campeche Sound in the Gulf of Mexico. Early Wednesday morning the Pemex oil platform, Abkatun Alpha blew up off the West coast of the Yucatan peninsula. The explosion […]

Shell’s profit comes at our expense

Greenpeace article by Isadora Wronski published 2 April 2015 Shell’s profit comes at our expense Climate science has made it clear that Arctic oil needs to stay in the ground if we want to avoid the worst impacts from global climate change. We know it and we also know that Shell knows it too. Knowingly going […]

CAN SHELL SAFELY DRILL IN THE ARCTIC?

By: MICHEAL KAUFMAN Published: Mar 30, 2015 at 10:40 am EST Shell Oil Company, subsidiary of multinational oil giant Royal Dutch Shell Plc (ADR) (NYSE:RDS), is conducting drilling tests in Bellingham, Washington, ahead of potential regulatory approval for drilling in the Arctic. According to media reports, government officials in Washington are observing Shell’s oil spill […]

Shell oil drilling in Arctic set to get US government permission

From an article by Terry Macalister published by the Guardian on Sunday 22 March 2015: Shell oil drilling in Arctic set to get US government permission The US government is expected this week to give the go-ahead to a controversial plan by Shell to restart drilling for oil in the Arctic. The green light from Sally Jewell, the […]

Shell Leads Gulf Sale Bids

By: MICHEAL KAUFMAN: Published: Mar 19, 2015 at 1:06 pm EST Extracts The Oil and Gas Journal, quoting US Bureau of Ocean Energy Management (BOEM), has reported that the Gulf of Mexico, Central Planning Area Lease Sale 235 attracted around 195 bids from 42 companies. Major energy companies such as Statoil ASA (ADR) (NYSE:STO), Chevron Corporation […]

Exxon, Shell’s spending patterns may help them through oil price drop

* Two biggest oil firms have finished major projects * Exxon, Shell able to cut 2015 spending * All oil majors face 2015 negative cashflow * Set to increase borrowing easily to cover shortfalls By Ron Bousso and Dmitry Zhdannikov LONDON, March 10 (Reuters) – The world’s two biggest oil firms, Exxon Mobil Corp and […]

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 […]

BP loses latest US oil spill appeal

The Supreme Court’s rejection of this appeal by BP is the latest in a series of setbacks for the oil firm. BP is trying to limit payments over the environmental disaster, which claimed the lives of 11 people and became the largest US offshore oil spill in history. The settlement agreement has no cap… BBC […]

Will Shell Transform Mexico’s Oil Production?

Will Royal Dutch Shell plc (RDS.A) Transform Mexico’s Oil Production? Bidness Etc looks at how Shell’s expertise and experience could help revolutionize Mexico’s energy sector By: MICHEAL KAUFMAN Published: Dec 8, 2014 at 3:55 pm EST Ever since Mexican President Enrique Pena Nieto revoked the ban on foreign investment in the country’s energy sector, Mexico’s […]

BP a sitting duck

The rumours that surfaced earlier this week that Shell might be taking a closer look at BP are not that ridiculous and in the current climate of lower oil prices and falling profits they actually make perfect sense. The first reason is that BP looks like a sitting duck. THE TELEGRAPH Why Shell could buy […]

Big Oil Optimistic On Gulf Of Mexico Projects

After the 2010 Deep Water Horizon oil spill disaster, it seems that economic activity in the Gulf of Mexico has picked up again as big oil companies, like BP and Shell, have started to undertake major projects in the region Published: November 25, 2014 at 7:13 am EST By: Micheal Kaufman The Gulf of Mexico […]

Oil prices continue to fall

Shell, BP and Petrofac shares close down as Opec decides not to cut oil production. Stocks of major oil producers were in the firing line as their profits are hugely dependent on the price of oil they extract. Royal Dutch Shell, for example, fell 4.3 percent while Total SA dropped 4.1 percent. LONDON — Oil […]

What Royal Dutch Shell Has To Say About 675 Billion Barrels Of Oil In Its Deepwater Reserves

In its latest monthly publication, Shell quoted the International Energy Agency as saying the oil giant has 675 billion barrels of oil in global deepwater reserves Published: November 18, 2014 at 7:53 am EST By: Micheal Kaufman In its latest monthly publication “Shell World,” Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has quoted the International Energy […]

US District Judge Adamant On Earlier Ruling Over BP’s Mexican Oil Spill

US district judge Carl Barbier has refused to change his ruling over BP‘s Gulf of Mexico oil spill, claiming that BP got what it deserved Published: November 15, 2014 at 8:43 am EST By: Micheal Kaufman FULL ARTICLE RELATED ARTICLES – WHAT HAPPENED TO BP IN THE US COURTS COULD HAPPEN TO SHELL David Lawrence, […]

Royal Dutch Shell Shareholders Beware

The news that BP may be fined up to $18bn for the oil spill in the Gulf-of-Mexico as a result of a ruling by a US federal court that BP acted with “conscious disregard of known risks” and that BP’s “conduct was reckless,” may have very serious implications for other oil companies. By John Donovan […]

Is This the Next Big Offshore Oil Frontier?

Extracts from a Motley Fool article by Arjun Sreekumar published 1 August 2014 Extracts Though the Arctic is believed to contain about a fifth of the world’s undiscovered hydrocarbon reserves, harvesting that oil and gas has proved excruciatingly difficult. In the Alaskan Arctic’s Chukchi Sea, for instance, Royal Dutch Shell’s drilling program has been plagued by […]

Few limits offshore, Shell says

Extract from a UPI article by Daniel J. Graeber published 21 July 2014 LONDON, July 21 (UPI) –John Hollowell, Shell’s vice president in charge of deep waters in the Americas, told The Daily Telegraph in London there were few limitations to how deep or how far offshore oil companies can drill. “How far you can […]

Shell drills deeper in the Gulf of Mexico to meet demand

Extracts from a Telegraph article by Scott Campbell published 19 July 2014 It is with some pride that Marvin Odum, the president of Shell Oil and director of its upstream business in the Americas, talks about the rapid pace at which his company is reaching new depths in the Gulf of Mexico. “More people have […]

Shell says makes 3rd major discovery in Norphlet play in Gulf

Reuters article published Tuesday 15 July 2014 (Reuters) – Royal Dutch Shell Plc said on Tuesday it had found roughly 100 million barrels of oil equivalent (boed) in the Gulf of Mexico’s Norphlet formation, its third discovery there. The company, the gulf’s largest operator, found the oil near its Rydberg well, roughly 75 miles off […]

Another serious shutdown at Shell Motiva refinery

Reuters article published Tue Jul 15, 2014 under the headline: “Damaged heater likely shut distillation unit at Motiva refinery” (Reuters) – A heavily damaged heater on a newly commissioned 325,000 barrel per day (bpd) crude distillation unit is the likely cause of a unexpected shutdown that may last up to five months at Motiva Enterprises […]

Shell investors sue BP for millions over Deepwater share price crash

Extracts from an article by Jim Armitage, Deputy Business Editor of  The Independent, published 4 July 2014 The pension fund of oil giant Shell is suing arch rival BP and its former chief executive Lord John Browne for millions of pounds over the Gulf of Mexico oil spill catastrophe. Shell Pension Trust is one of […]

Marvin Odum speaks out

Article by M. Nadeem published 27 June 2014 by insider monkey.com under the headline: “Royal Dutch Shell plc’s Subsidiary Shell Oil Company President Marvin Odum Discusses Energy Industry State” In a Fox News’ Opening Bell program on June 27, Shell Oil Company’s, a subsidiary of Royal Dutch Shell plc), President, Marvin Odum, talked about the […]