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Posts under ‘Oil’

BP, Shell, Morgan Stanley seek end of oil price-fixing lawsuit

Extracts from a Reuters article by Jonathan Stempel published Tuesday 29 July 2014 (Reuters) – BP Plc, Royal Dutch Shell Plc, Morgan Stanley and other companies urged a U.S. judge to dismiss nationwide litigation claiming they conspired for 12 years to fix prices of Brent crude oil, a benchmark for the cost of gasoline and […]

Oil prospectors shifting focus back to wealthy, more predictable countries

Extracts from a Seeking Alpha article published 28 July 2014 Companies including Shell, Chevron and Exxon are diverting more and more funds to the world’s richest economies, as they grow tired of the risks of working in violent and corrupt places for the reward of finding oil and gas reserves that can be profitably exploited… The […]

Oil majors BP and Shell may be ready for more mergers

Some of Shell’s big shareholders are said to be frustrated by the company’s continued spending on expensive far-flung projects that fail to yield healthy returns. Alongside its profit warning at the start of this year, Shell announced that it was halting a controversial exploration programme off the coast of Alaska because the costs had far outweighed […]

Shell vs. Bodo Community: British Court To Hear Evidence In Nigeria

Extracts from an article by Tunde Oyedoyin published by The Guardian Nigeria on Friday 25 July 2014 A BRITISH court will temporarily sit in Nigeria next year in a bid to determine how much compensation Shell Nigeria should pay to the fishermen of the Bodo community, who were affected by the two massive oil spills that […]

Offshore oil plan could be ‘game over’ for climate

Extract from an article by Professor Richard Steiner published 25 July 2014 by The Arctic Sounder Already suffering extreme effects of climate change, drilling in the Arctic Ocean would make matters worse by adding significant industrial disturbance, including platforms, pipelines, tankers, ports, ship and air traffic, underwater noise, suspended sediment, and of course oil spills […]

Shell Oil Co. Removes Toluene Bladder Cancer Lawsuit to Florida Federal Court

Extracts from an article posted by Harris Martin Publishing on 25 July 2014 July 25, 2014 ORLANDO, Fla. –– Shell Oil Co. has removed a toluene exposure lawsuit to a Florida federal court, noting that while it is a Delaware corporation with a principal place of business in Texas, the plaintiff resides in Florida. Shell […]

Shell holds crisis talks with Niger Delta community over threat to operations

Extract from an article published by Platts on 24 July 2014 Shell has opened talks with leaders of the Nembe community in the Niger Delta to stave off potential unrest that could disrupt the company’s operations, a Shell spokesman said Thursday. The talks come after the Nembe community in Brass Local Government Area of southern Bayelsa State Wednesday […]

Shell secretly recorded telephone calls to 888-GO-SHELL

Californians: Are you entitled to a share in Shell $2M settlement? By John Donovan  Equilon Enterprises, a fully owned subsidiary of Shell Oil, secretly recorded calls from U.S. customers contacting 888-GO-SHELL – a call centre. This included calls originating from California. Customers disclosed private information without being aware of the surreptitious recording of their calls being […]

Europe’s ‘ghost town’ refineries spook oil company results

Extracts from a Reuters article by Christopher Johnson published Wednesday 23 July 2014 LONDON, July 23 (Reuters) – Europe is coming under increasing pressure to close oil refineries as chronic over-capacity hits processing margins, dragging down group profits and hitting share prices. Poland’s PKN Orlen and Czech processor Unipetrol both announced unexpected large losses on […]

Royal Dutch Shell Playing Politics with Human Lives?

What is even more appalling is the fact that the oil giant Royal Dutch Shell, is the one behind the scene steering the affairs of the Dutch Government and practically playing politics with ‘human lives.’ By Zik Gbemre RE: DESPITE ANGER OVER DOWNED JETLINER, EUROPE SHIES AWAY FROM SANCTIONS ON RUSSIA We find it rather […]

Woodside Chairman Defends $2.7 Billion Buyback Deal With Shell

Extracts from a BloombergBusinessweek article by James Paton and Rebecca Keenan published 23 July 2014 Woodside Petroleum Ltd. (WPL), Australia’s second-largest oil and gas producer, defended a plan to buyback about $2.7 billion of stock from Royal Dutch Shell Plc (RDSA) amid concern investors may reject the deal. Woodside’s buyback is part of last month’s […]