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Posts under ‘Oil’

Green Agenda Risks $2 Trillion Worth Of Energy Projects

Mexico’s Petroleos Mexicanos and Royal Dutch Shell stand to lose roughly $77 billion in projects By Steve Birr: Daily Caller News Foundation If world leaders agree on a 2 degree Celsius warming limit at the Paris climate summit, $2 trillion in new coal and petroleum projects risk being killed, according to a new report. The London […]

Oil Majors Queue in Iran as $30 Billion of Projects in Play

by Golnar Motevalli, Anthony Dipaola and Hashem Kalantari: November 28, 2015: Shell, Total, Lukoil interested in specific Iranian fields Iran seeks to sign first oil development deal in March, April Total SA, Royal Dutch Shell Plc and Lukoil PJSC are among international companies that have selected oil and natural gas deposits to develop in Iran as the holder […]

UK scraps one billion pound carbon capture technology scheme

“Without that funding, we no longer see a future for the Peterhead project in the near term,” a spokesman for Shell said. LONDON | BY SUSANNA TWIDALE: Wed Nov 25, 2015 Britain has scrapped plans to spend up to 1 billion pounds ($1.5 billion) to help commercialize the technology for capturing carbon dioxide emissions from power […]

Some Thoughts On Royal Dutch Shell’s Dividend In 2016

Casey Hoerth, Casey’s Finance Journal (Blog) : Nov. 25, 2015  Summary Shell expects substantial cost savings and capex cuts in 2016. Dividend sustainability in 2016 will depend on Brent crude prices. At this time, I prefer companies that can actually acquire with oil at these prices. Back in April, I wrote that Royal Dutch Shell’s (NYSE:RDS.A) dividend, […]

Shell’s £22,500 fine for North Sea oil spill slammed as ‘paltry’ by campaigners

The World Wildlife Fund warned the size of the fine would ‘do little to deter future poor behaviour’ Shell apologised for the lack of information and said it was not a deliberate attempt to cover up the spill.  Adam Barnett: 24 November 2015 A £22,500 fine imposed on the energy giant Shell as punishment for […]

Shell handed £22,500 fine over August 2011 North Sea oil spill

November 24, 2015 12:30 pm The company carried out a review of its North Sea pipeline system following the leak, which came from a subsea pipeline in the Gannet field in August 2011. More than 200 tonnes of oil – about 1,300 barrels – entered the North Sea from the pipe about 112 miles east […]

Shell joins queue of investors waiting on Iran oil contracts

Robin Pagnamenta read more

Goldman eyes $20 oil as glut overwhelms storage sites

By Ambrose Evans-Pritchard: 20 Nov 2015 The world is running out of storage facilities for surging supplies of oil and may soon exhaust tanker space offshore, raising the chances of a violent plunge in crude prices over coming weeks, experts have warned. Goldman Sachs told clients that the increasing glut of oil on the global market […]

Shell charged over Gannet Alpha leak in 2011

Friday 20 November 2015 Oil giant Shell has been charged after an investigation into a leak at a North Sea platform in 2011, the BBC Scotland news website has learned. It involved the Gannet Alpha platform, 113 miles (180km) from Aberdeen. It was reported that the pipeline leaked more than 200 tonnes of oil. The […]

Shell finds 100 million oil barrels in deep-water Gulf discovery

Posted on November 18, 2015 | By Collin Eaton HOUSTON — Probing one of its recent discoveries in deep waters of the Gulf of Mexico, Royal Dutch Shell found 100 million barrels of oil equivalent buried at its Kaikias field, nearby three of its massive production facilities and a network of subsea pipes, the company […]

An Oil-Soaked Globe as Production Keeps Climbing and Demand Falls

A version of this article appears in print on November 14, 2015, on page B1 of the New York edition HOUSTON — Such is the state of the oil industry these days that there is sometimes nowhere to put the oil. Off the coast of Texas, a line of roughly 40 tankers has formed, waiting […]

US oil settles down $1.01, or 2.42%, at $40.74 a barrel

Oil fell over 2 percent on Friday, extending the week’s loss to the largest in eight months, pressured by swelling storage of crude on both land and sea. U.S. crude traded slightly above $40 a barrel while benchmark Brent was less than $2 from setting new 6½-year lows. The slump widened to oil products with […]

Shell vessel heads to deep Gulf waters amid region’s uncertainty

Posted on November 13, 2015 | By Collin Eaton HOUSTON — Royal Dutch Shell’s newest oil-production vessel began a 15,000-mile journey this week from a Singapore shipyard to the world’s deepest underwater oil field, tasked with adding more crude to a worldwide oil glut that could upend industry plans to venture deeper offshore. The $1 […]

Shell affiliates are buyers, sellers in $390 million midstream transaction

Posted on November 11, 2015 | By Joshua Cain A pipeline subsidiary of Royal Dutch Shell has sold a crude terminal in Illinois and a pipeline system in the Gulf of Mexico for $390 million to a master limited partnership affiliated with Shell. Shell Midstream Partners, the Houston-based MLP that Shell formed in 2014, said on Wednesday […]

Commemorating the 20th Anniversary of the Extra Judicial Death of Ken Saro-Wiwa & all the Ogoni 9

10 Nov 2015, Dublin Ireland Shell to Sea Activists and AFRI commemorated the 20th Anniversary of the deaths of Ken Saro-Wiwa and the Ogoni Nine outside “Corrib House:” Shell’s Irish Headquarters in Dublin. The activists carried crosses bearing the names of each of the men executed by the corrupt Nigerian Government on 10 November 1995. […]

Shell must pay full cost of Saro-Wiwa’s murder, polluting Ogoniland, activists demand

November 11, 2015: Ben Ezeamalu A coalition of civil societies have demanded that Shell be made to pay “the full cost” for the murder of the Ogoni playwright and activist, Ken Saro-Wiwa, and eight others and the pollution of Ogoniland. At a joint press conference in Port Harcourt, Tuesday, the Social Action, Ogoni Solidarity Forum, Movement […]

Pickard quits Shell

Peter Klinger: November 11, 2015 Ann Pickard, once dubbed the “bravest woman in oil and gas” before she transformed Royal Dutch Shell’s century old presence in Australia, has quit the Anglo-Dutch giant. However, the decision to retire from Shell will not spell the end of her exposure to oil and gas, and LNG in particular which […]

Shell Oil Co. president touts carbon tax over piecemeal regulations

Posted on November 10, 2015 | By Jordan Blum A carbon tax or cap-and-trade system in the U.S. — and globally — would serve the energy industry better than the current slate of piecemeal state and federal regulations, Shell Oil Co. President Marvin Odum  said Tuesday. He acknowledged that Congress won’t take action soon in […]

Shell’s top Arctic exec is retiring, will join KBR board

Posted on November 10, 2015 | By Joshua Cain After Royal Dutch Shell scuttled its $7 billion Arctic drilling program in September, the company’s top executive on the project is moving on. Ann Pickard, Shell’s executive vice president in the Arctic, will retire from the company in February 2016, Shell spokeswoman Kelly op de Weegh […]

Nigerian Probes Uncover $12bn Oil Fraud

In 2012, the Senate investigated the contentious Malabu Oil Field transaction. The Upper House re-opened investigation into an allegation of $1.1 billion round-tripping involving the federal government and two international oil companies – Shell and Eni (Agip) – over the sale of a contentious OPL 245 oil block. BY EDEGBE ODEMWINGIE AND BODE GBADEBO: Nov 10, […]

Shell haunted by Ken Saro Wiwa legacy as Niger Delta communities demand justice

10 November 2015 Today marks the 20th anniversary of the execution of Ken Saro Wiwa and eight other Ogoni leaders, hanged by the Nigerian state after they spoke out against the government and campaigned against Shell’s operations in Nigeria’s Ogoniland. Their executions sparked a global outcry. It’s a fitting moment to take stock of the […]

Anger over enduring ‘environmental horror’ in oil-rich, polluted Niger delta

Activists in Port Harcourt, Nigeria protest to demand that Shell pay reparations and clean up its oil spills. © Amnesty International John Vidal read more

Protest threatened over memorial 20 years after Ken Saro-Wiwa execution

Twenty years after ‘judicial murder’, Nigeria’s Ogoni people highlight international storm over oil spillage pollution John Vidal: Saturday 7 November 2015 Leaders of Nigeria’s Ogoni people have threatened to disrupt the country’s oil industry if the government does not release a British artwork commemorating the 20th anniversary of the execution of the writer Ken Saro-Wiwa. […]

DAVID HOWELL, EDMONTON JOURNAL: November 6, 2015 Fort Saskatchewan — Shell and its partners Friday opened the $1.35-billion Quest carbon capture and storage project. It is designed to capture and store more than one million tonnes of carbon-dioxide emissions a year from the bitumen upgrader at Scotford. Built with financial help from the Alberta and federal governments, Quest is the world’s first […]

Exxon Inquiry Both Mirrors and Contrasts With Tobacco Industry Case

By JOHN SCHWARTZ: NOV. 6, 2015 The New York attorney general’s decision to investigate Exxon Mobil over whether the company lied to the public and investors about the risks of climate change has raised questions about possible similarities to the Justice Department’s successful suit against the tobacco industry in 1997. The new case has reprised the […]

Citing Climate Change, Obama Rejects Construction of Keystone XL Oil Pipeline

“President Obama is the first world leader to reject a project because of its effect on the climate,” said Bill McKibben, founder of the activist group, which led the campaign against the pipeline. “That gives him new stature as an environmental leader, and it eloquently confirms the five years and millions of hours of […]

Keystone rejection tied to climate inaction frustration-Shell CEO

Markets | Fri Nov 6, 2015 3:38pm EST By Mike De Souza Nov 6 (Reuters) – The U.S. rejection of the proposed Keystone XL pipeline was driven in part by protesters who are increasingly frustrated with inaction on climate change, Royal Dutch Shell Plc Chief Executive Ben van Beurden said on Friday. Speaking at the […]

How a poor Nigerian town got Shell to pay for major oil spills

JESSE WINTER: November 6, 2015 For decades, poor residents of the oil-rich Niger Delta have fought the pollution of their lands with little success. Now, writes Jesse Winter, a town ravaged by oil spills has changed the game with a historic court victory against Shell. The Yamaha outboard coughs indignantly but refuses to catch. John Agava […]

Shell Canada says Keystone XL was already in uncertainty window

Shell Canada says Keystone XL was already in uncertainty window CALGARY: Fri Nov 6, 2015 Royal Dutch Shell PLc said on Friday there are at least three other possible pipeline alternatives to TransCanada Corp’s Keystone XL project, which was rejected by U.S. President Barack Obama, and Shell would like to see at least one approved. […]

Exxon Mobil Investigated for Possible Climate Change Lies by New York Attorney General

Mr. Schneiderman’s decision to scrutinize the fossil fuel companies may well open a new legal front in the climate change battle. The Exxon inquiry might expand further to encompass other oil companies… By JUSTIN GILLIS and CLIFFORD KRAUSS: NOV. 5, 2015 The New York attorney general has begun an investigation of Exxon Mobil to determine whether the […]

Shell update on BG takeover stokes fears for North Sea jobs

The update fuelled fears about the implications for the North Sea, where Shell and BG have around 2,800 staff and contractors working in total. Both have big operations centres in Aberdeen. The company has shed 7,500 posts globally this year in response to the crude price plunge. It has cut 500 North Sea jobs since […]

Shell’s boss fights to keep BG deal alive as he attempts to calm jittery investors

By LAURA CHESTERS FOR DAILY MAIL: 3 November 2015 Royal Dutch Shell chief executive Ben van Beurden is the oil industry’s equivalent of a swan – below his calm demeanour he is furiously paddling to keep his planned £40billion mega-deal afloat. Shell is buying rival BG Group and, to get the deal away and for […]

Exposed: The fake recruitment boss who offered oil expert £10,000 a month job with Shell

4 NOV 2015 BY ANDREW PENMAN Fraudsters lure victims into paying upfront fees to cover supposed costs only to find out the employer has never heard of them One Mirror reader who has just been targeted is out-of-work oil industry logistics expert Alan Winks. It seemed that his years of experience in the North Sea […]

Shell describes Arctic drilling project as a good prospect that just didn’t work out

Associated Press: Nov. 3, 2015 LONDON (AP) — Royal Dutch Shell CEO Ben van Beurden says the company will reflect on its decision to consider drilling off the coast of Alaska but voiced his regret that the prospect couldn’t be made to work out. Van Beurden told reporters Tuesday as Shell updated its strategy that it […]

Niger Delta: Shell’s manifestly false claims about oil pollution exposed, again

3 November 2015, 00:08 UTC Claims by oil giant Shell that it has cleaned up heavily polluted areas of the Niger Delta are blatantly false, Amnesty International and the Centre for Environment, Human Rights and Development (CEHRD) said in a new report published today. Clean it up: Shell’s false claims about oil spills in the […]

Shell Fails to Clean Four Nigeria Oil Spill Sites, Amnesty Says

Abandoned fishing boats in Ogoniland Photographer: Pius Utomi Ekpei/AFP via Getty Images Chris Kay: November 3, 2015: Nigerian regulator incorrectly said spill sites clean Shell says oil theft, illegal refining a persistent challenge Royal Dutch Shell Plc has failed to clean up four oil-spill sites in the crude-producing Niger River delta, three of which an under-resourced […]

Amnesty report accuses Shell of failing to clean up Niger delta oil spills

John Vidal: Tuesday 3 November 2015 00.01 GMT read more

North Sea gas leak ‘could have caused explosion’ says safety watchdog

By Chris Foote: 2 November 2015 Oil giant Shell has been ordered to make improvements following an undersea gas leak which could have caused an offshore explosion. The leak happened when a ship’s towline snagged on a pipeline nearly 300ft below the Curlew floating production vessel. The pipe ruptured and gas from the Fulmar Gas Line […]

Kola Aluko reveals why he paid rent for ex-minister’s mother

Alison-Madueke was detained in London on October 2, 2015, by the United Kingdom’s National Crime Agency (NCA) over allegations that she laundered billions of dollars from her country’s treasury. Nigerian oil tycoon, Kola Aluko has admitted paying rent for Mrs Beatrice Agama, the mother of former Petroleum Minister, Diezani Alison-Madueke. Alison-Madueke was detained in London […]

Fugitive Oil Tycoon Kola Aluko Admits Paying UK Rent For Alison-Madueke’s Mother

BY SAHARAREPORTERS, NEW YORK: NOV 01, 2015 Kola Aluko, a Nigerian oil magnate now wanted in the UK for money laundering, has admitted that he paid rent for a high-end apartment for the mother of a former minister of Petroleum Resources, Diezani Alison-Madueke. Mr. Aluko told the British Sunday Times newspaper that he was responsible for […]

Oil tycoon faces quiz over lost billions

Article involving Diezani Alison-Madueke, former executive director of Shell in Nigeria read more

New Report Blames Shell, Exposes Failure to Clean Niger-Delta Oil Spills

By Senator Iroegbu: 29 October 2015 The Amnesty International (AI) and the Centre for Environment, Human Rights and Development (CEHRD) will launch a new report exposing what it described as Shell’s blatantly false statements about its efforts to clean up oil spills in the Niger Delta next week. The Press Officer, AI Nigeria, Mr. Eulette […]

Shell’s Loss: Oil Prices Aren’t the Only Problem

There is blood in the water at Royal Dutch Shell By HELEN THOMAS: Oct. 29, 2015  There is blood in the water at Royal Dutch Shell. The wound will take some time to heal. The U.K. oil and gas company Thursday posted a huge third-quarter loss, dragged down by impairments of $8.2 billion in its upstream business. […]

Even as it walks away from Arctic drilling, Shell keeps door open for future work

Posted on October 29, 2015 | By Jennifer A. Dlouhy WASHINGTON — Shell is walking away from oil exploration in Arctic waters north of Alaska, but it isn’t ready to close the door completely. Disappointing results from a critical test well at the company’s Burger prospect in the Chukchi Sea, combined with the high costs […]

Shell Makes Biggest Net Loss in at Least a Decade on Price Slump

Rakteem Katakey: 29 October 2015 Company reports net loss after taking $7.9 billion charge Third-quarter adjusted profit drops 70% to $1.8 billion Royal Dutch Shell Plc reported its biggest net loss in at least a decade as it wrote down the value of assets and lowered its oil-price expectations. The company, which is buying BG […]

Shell cancels big Canadian oil sands project

Posted on October 27, 2015 | By Collin Eaton HOUSTON – Royal Dutch Shell says it will stop building a large Canadian oil sands project after low crude prices pushed it out of the company’s shortlist of profitable projects. It’s the second large project Shell has canceled since August, when it ditched a $7 billion […]

Shell Takes $2 Billion Charge to Quit Oil-Sands Project

David Marino: 27 October 2015 Company stops work at Carmon Creek facility in Alberta Halted oil-sands work follows Shell’s Arctic drilling exit Royal Dutch Shell Plc made its second major strategic change in two months, announcing it will take a $2 billion charge to exit an oil-sands project in Alberta. Shell is stopping construction on […]

Shell upstream boss says UK sector still in ‘dark ages’ on collaboration

Written by Phil Allan – 27/10/2015 11:28 am The boss of Shell’s UK upstream business said the oil and gas industry was still in the “dark ages” when it came to collaboration. Paul Goodfellow said companies working in the North Sea need to learn from other industries on how to work together. The Shell boss […]

Oil profits set to plummet by billions: BP and Shell hit as prices plunge and exploration venture collapses

Photo Credit: Dark days: The price of a barrel of Brent crude has plunged from more than $100 a barrel in the summer of last year to $48 a barrel today By JON REES, FINANCIAL MAIL ON SUNDAY: 24 October 2015 BP and Shell will this week report billions of pounds wiped off their profits as […]

Shell Will Struggle to Overcome Oil Price Crash, say Analysts

Stephen Simko, CFA: 26 October 2015 Even when oil prices were $100 a barrel, Shell’s (RDSB) portfolio was strewn with problems. Huge bets on shale destroyed huge amounts of capital, and the company’s upstream resource base has few growth options with strong economics, the low-cost Brazilian oil it is acquiring from BG (BG.) is the […]