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Posts under ‘Oil’

Shell bows to investor pressure on climate risk

WASHINGTON Thu Jan 29, 2015 1:49pm EST (Reuters) – In a rare move, oil major Shell on Thursday backed a resolution proposed by activist investors to force the company to recognize climate change risks by improving its transparency. Shell’s executive vice president of investor relations JJ Traynor said the company would urge shareholders to vote […]

Shell resumes Arctic drilling but cuts $15bn from global investment

Royal Dutch Shell is reviving plans to drill for oil in Arctic in a move likely to intensify its battle with environmentalists. The Anglo-Dutch giant’s chief executive Ben van Beurden accepted that Arctic drilling “divides society”, but said the world needs new sources of oil. Greenpeace said Shell was taking a “massive risk” in a […]

Shell wants to resume drilling in Arctic this summer

By Karolin Schaps and Ron Bousso Jan 29 (Reuters) – Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high. Remote and costly to develop, the Arctic is estimated to contain 20 percent of […]

Plan to allow Shell oil drilling fleet in Seattle draws ire

BY PHUONG LE ASSOCIATED PRESS: 01/28/2015 9:43 PM: SEATTLE A plan to allow Royal Dutch Shell PLC to use Seattle’s waterfront as a homeport for its Arctic drilling fleet is drawing opposition from environmental groups that say it’s not consistent with the region’s environmental goals. Several state and national groups, and local city leaders on Wednesday urged […]

Oil giant Shell set for further cost cuts

By GEOFF HO: Published Sunday January 25, 2015   Royal Dutch Shell chief executive Ben van Beurden will outline how the company plans to deal with the collapse in crude oil prices when he unveils its results on Thursday. The oil giant is expected to reveal further cost-cutting measures alongside a 4.6 per cent fall […]

Who Will Rule the Oil Market?

OPINION ARTICLE BY DANIEL YERGIN PUBLISHED IN PRINT BY THE NEW YORK TIMES ON SATURDAY 25 JAN 2015 WASHINGTON — A HISTORIC change of roles is at the heart of the clamor and turmoil over the collapse of oil prices, which have plummeted by 50 percent since September. For decades, Saudi Arabia, backed by the […]

Can BP and Royal Dutch Shell weather the storm?

From an article by Kyle Caldwell published by The Telegraph on 23 Jan 2015 under the headline: “Oil shares yield 6pc, but are the dividends safe?” Since June the price of Brent Crude has fallen from $116 a barrel to just below $50 last week. The plunge means these companies will generate far lower revenues […]

Oil majors to preserve dividends despite oil collapse, tap debt

REUTERS ARTICLE PUBLISHED 23 Jan 2015 (Reuters) – Europe’s oil majors will strike a sober note in their fourth-quarter results and investors will focus on companies’ plans to maintain cherished dividends and their strategies to cope with the oil prices collapse that caught many unawares. Having sold around $120 billion in assets in recent years […]

Dusting off the Shell BP merger files

Shell and the forerunner of BP bribed a famous politician to facilitate a merger  According to Sir Martin Gilbert, the official biographer of Winston Churchill, Royal Dutch Shell and BP (then called Burmah Anglo-Persian Oil Company), were in merger discussions in 1923. Extract from a BBC News Magazine article published 22 Jan 2015 10. Cash for […]

Lloyd’s Register PR Fanfair Saluting Nazi named mega-ship The Pieter Schelte

THIS ARTICLE, INCLUDING THE SCREENSHOT OF THE FRONT COVER OF JAN 2015 EDITION OF HORIZONS MAGAZINE (IMMEDIATELY BELOW), WAS SUPPLIED IN ADVANCE OF PUBLICATION TO LLOYD’S REGISTER AND ALLSEAS WITH THE INVITATION TO CORRECT ANY INACCURATE INFORMATION. IT FOLLOWS THAT BOTH FIRMS HAD THE OPPORTUNITY TO SEEK AN INJUNCTION TO PREVENT PUBLICATION.  By John Donovan […]

You are here Stakes are too high with Arctic drilling, and Shell isn’t ready

From an article by Lois Epstein published 21 Jan 2015 by Alaska Dispatch News Extracts Two years ago on New Year’s Eve, Shell’s Kulluk Arctic offshore drilling rig grounded near Kodiak Island. It was an industrial calamity heard around the world, including a cover story in the Jan. 4 issue of The New York Times […]