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Posts under ‘Houston Chronicle’

Going deeper than the rest

Shell’s Perdido platform may provide lessons in innovation to industry

Shell will pay millions to settle air pollution suit

Shell Oil Co. has agreed to pay millions of dollars to resolve a lawsuit by two environmental groups over pollution at its Deer Park refinery.

Poor market delays completion of refinery expansion

Motiva Enterprises is delaying by more than a year the target date for completing a $7 billion expansion of its Port Arthur refinery due to poor market conditions, a company spokesman said today. Motiva, a joint venture between Shell Oil and Saudi Refining Inc., had planned to finish the project by late 2010, but now is aiming for the first quarter of 2012, Motiva spokesman Stan Mays said today.

Salazar to rewrite Bush’s oil-shale plan

Exxon Mobil Corp., Chevron Corp. and Royal Dutch Shell Plc are among companies working on technology to extract the oil by heating the rocks.

Congress hears pleas from oil giants on offshore leases

WASHINGTON — Top executives from some of the nation’s biggest oil companies on Wednesday pleaded with Congress to expand ?offshore drilling to help wean the U.S. off foreign energy sources and spur new jobs.

Rumors of a possible union between BP and Shell

I asked Hayward if the lower prices would trigger mergers among the majors, as happened in the 1990s. BP used the low prices a decade ago to snap up Amoco and Arco. Rumors have been circulating in the European press about a possible union between BP and Shell.

Deal heads off strike at plants

“Shell is pleased that it has reached a mutually satisfactory tentative agreement on national bargaining items with the USW for our manufacturing sites,” Shell spokesman Stan Mays said in a written statement.

Shell tries to stay on an even keel

Credit Suisse analyst James Neale, in a note to investors, voiced concern that “the company’s return to growth will be short-lived in view of efforts by the company to slow final investment decisions on future growth projects due to current economic weakness, and in order to await lower future service costs.”

Energy workers get new offer

Shell Oil Co., which is representing the energy industry, has been meeting with negotiators from the United Steelworkers Union in Austin.

The party’s over for Big Oil

“Earnings will be dismal. They’re all under pressure to cut costs. The sharp drop in oil and gas prices has tremendous far-reaching ramifications on the landscape,” Gheit said.

500 holiday workers from Shell Oil and Motiva Enterprises active in Houston Food Bank Project

Among them are about 150 volunteers from Hope Worldwide, an international humanitarian organization, and 500 holiday workers from Shell Oil Co. and its Motiva Enterprises subsidiary who will sort and pack groceries at Houston Food Bank, tutor a children’s literacy program and plant dozens of trees.

ConocoPhillips CEO calls for balanced energy plan

ConocoPhillips is the only domestic petroleum giant involved in the diverse coalition, which also includes General Electric, NRG Energy, Dow Chemical Co., the Environmental Defense Fund and others. Europe-based BP and Royal Dutch Shell are partners in the group, but Exxon Mobil Corp. and other U.S. producers have remained on the sidelines.

Will 100 yrs of ruthless rivalry end with ExxonMobil buying Shell?

The military tone of articles published 90 years ago in the New York Times provide insight into the depth of intense rivalry between the oil giants which sometimes descended into open warfare. The opening salvo was fired in an article published on 16 January 1928 under the dramatic headline: “N.Y. STANDARD OIL DECLARES WAR UPON DUTCH SHELL GROUP“.

A year of merger mania for the majors?

As I’ve written before, while Exxon’s earnings have set records, its worldwide production has declined. So Exxon is sitting on a huge pile of cash, it needs access to new reserves and now assets are available at bargain prices. That’s prompting speculation that it might buy Royal Dutch Shell. Exxon could, as CNN points out, offer a 60 percent premium, in cash, for every Shell share, taking out its second largest competitor in the process.

Shell employees killed in Louisiana helicopter crash

The passengers worked for two Shell Oil Co. contractors and the company said they were on their way to its Gulf of Mexico platform.