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Posts under ‘President Obama’

Neal Katyal, the best justice money can buy

By John Donovan

Shell lawyers Cravath Swaine & Moore LLP have hired Neal Katyal, a senior partner at the global law firm Hogan Lovells, to represent them in litigation relating to Shell’s human rights abuses in Nigeria.

Mr Katyal is a busy man. On Monday he will be arguing a case before the U.S. Supreme Court. For the first time, it includes President Trump’s appointee Neil Gorsuch. Katyal endorsed Gorsuch’s nomination to the U.S. Supreme Court, testifying at his Senate Judiciary Committee confirmation hearing. read more

Obama’s April Fool’s Joke Approving Shell Arctic Drilling

Obama’s April Fool’s Joke Approving Shell Arctic Drilling

By John Donovan

On 1st April 2015, President Obama’s administration upheld a 2008 lease sale facilitating Shell’s return to oil and gas drilling off Alaska.

See this Reuters Report: Here’s why Obama is approving Artic Drilling again

This decision despite Shell’s farcical exploits in 2012.  Many readers will recall that a Shell hired drilling rig – a rusty ancient vessel – ran aground after Shell sent it to sea despite a storm warning.

The reckless move was made in an attempt to evade taxes. Shell admitted, then denied, then admitted, that this was the case. read more

Obama Said to Use 1953 Law to Permanently Block New Drilling Leases in Arctic, Atlantic

The Shell-contracted rigs Kulluk (left) and Noble Discoverer (right) set sail from Seattle in July 2012 for Royal Dutch Shell’s ultimately unsuccessful drilling campaign offshore Alaska in Summer 2012. Photo credit: Vigor Industrial

December 19, 2016 by Bloomberg

By Jennifer A. Dlouhy

(Bloomberg) — President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to two people familiar with the decision. read more

Obama administration bans Arctic offshore oil drilling through 2022. But will Trump reverse it?

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By William Yardley: 18 Nov 2016

The Obama administration said Friday it was banning offshore oil drilling in the Arctic through 2022, a move that prompted widespread praise from conservation groups but raised questions over how long the decision will stand just two months before President-elect Donald Trump takes office.

A new five-year leasing program prohibits any drilling in the Beaufort and Chukchi seas — an environmental battleground in recent years —and also blocks expansion in the Atlantic and Pacific oceans, while allowing some new leasing in the Gulf of Mexico. read more

Not dead yet

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By Ed Crooks: November 19, 2016

The last rites have been read over the Age of Oil a few times recently, but this week the International Energy Agency suggested there was still plenty of life left in it yet.

In its 2016 World Energy Outlook, the IEA argued that even if the Paris climate agreement were fully implemented, demand for oil would keep rising until at least 2040.

The message was reassuring for oil producers worried that “peak demand” might condemn them to stagnation or decline, or even put them out of business. There was colder comfort, however, in a warning from Wood Mackenzie that big oil companies risked being left behind in the transition to low-carbon energy. read more

Trump’s victory could hurt Royal Dutch Shell plc’s future

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By The Motley Fool  Nov 14, 2016

Donald Trump’s views on climate change may provide a boost to oil production in the US. He stated in his campaign that the US was being disadvantaged by rules and regulations aimed to prevent (or at least slow down) climate change. This could signal a more positive attitude from the US government towards oil and gas companies over the medium term.

Although there’s no certainty that Trump will follow through on his campaign policies when he becomes President, it seems likely that he’ll be less positive about battling the effects of climate change than Barack Obama. This could be bad news for Shell(LSE: RDSB). read more

Trump energised

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By Ed Crooks, November 11, 2016

“Between a battle lost and a battle won, the distance is immense and there stand empires,” said Napoleon. The same is true of elections.

Donald Trump may have come slightly behind Hillary Clinton in the popular vote for the presidency, but his convincing victory in the electoral college will give him the ability to reshape the energy industry in the US and around the world.

His hand will be strengthened by Republican control of Congress. Parts of Mr Trump’s agenda will face resistance in Congress, but his energy policy is unlikely to be one of those areas. His support for oil, gas and coal, his commitment to deregulation and his rejection of climate policy are all well aligned with mainstream Republican thinking. read more

Short term strength

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By Ed Crooks: June 17, 2016

This week has brought evidence of contrasting short-term and long-term trends in the oil market. In the short term, demand and supply are both turning out to be stronger than many had expected. The IEA revised up its forecast for oil demand growth this year in its monthly oil market report, but added that rising production would mean global oversupply could persist into 2017.

There are early indications of an upturn in activity in the US shale industry, still faint so far, but ominous for anyone relying on a sharp rebound in crude. And Iran said its oil production had reached 3.8m barrels per day, confirming the strong growth following the lifting of sanctions that was already visible last month. Iran’s oil exports have tripled since late 2015. read more

Better news for oil

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Screen Shot 2016-03-16 at 22.36.32By Ed Crooks: Friday 18 March 2016

Oil continued to creep up this week with Brent going past $42 per barrel, its highest level since early December. Crude was a beneficiary of the wider upturn in markets, which pushed the S&P 500 index briefly back up above its level at the start of the year. The positive correlation between share prices and oil prices seems to be alive and well.

Suggestions that the US Federal Reserve is in no hurry to raise interest rates gave a boost to crude and other markets. Oil was also helped by reports that Opec ministers had at last agreed to hold a meeting with leading non-Opec producers such as Russia, in an attempt to make some progress with their much-discussed, little-implemented production freeze. read more

An oilman’s $7 billion refresher course in the economics of drilling and climate change

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To many analysts, it looked like Odum was pushed into leaving.

Steven Mufson March 11, 2016

Marvin Odum, president of Shell Oil, was attending a meeting of the parent company’s executive committee in Singapore when word trickled in that an exploration well drilled in Alaska’s Chukchi Sea — the crowning step in a multi-year $7 billion quest — was a dry hole.

Maybe not bone dry. In a recent interview, Odum wouldn’t say. But in the oil business glossary, a dry hole is one that can’t pay off commercially, and Shell’s hole definitely qualified. The parent company, Royal Dutch Shell, abruptly dropped any further drilling — a setback for the industry, though a relief for environmentalists.

For years, they had fought a vigorous, litigious and politically intense battle over the Chukchi. Meanwhile Shell, lured by potentially rich rewards, had overcome a couple of embarrassing rig mishaps at sea and patiently navigated the courts and the Obama administration’s permitting process. Now, geology had rendered its verdict. read more

Corporate earthquakes

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By Ed Crooks: February 5, 2016

Earnings reports from the largest listed oil companies have this week given a series of seismograph readings on the upheaval in the crude market. The implications for investors, employees and suppliers are grim. Worse, those earnings were all recorded in a period when oil and gas prices were significantly higher than they are now.

In a run of generally grim reports, BP’s was perhaps the worst: in 2015 it made a $5.2bn loss, the largest in its history. ConocoPhillips of the US, which after spinning off its refining business in 2012 became the world’s largest pure exploration and production company, was another standout, cutting its dividend by 66 per cent just two months after promising that the payout would be its “highest priority”. read more

The Inside Story of Shell’s Arctic Assault

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Screen Shot 2015-11-03 at 08.42.45A months-long investigation shows how the energy giant pressured the Interior Department during the company’s gung-ho Arctic push—and got most of what it wanted (except oil).

By Barry YeomanDecember 08, 2015

Last May, four months before the oil giant Royal Dutch Shell suspended exploration in offshore Alaska, Christopher Putnam needed to get something off his chest.

Putnam is 44, originally from Texas, a trained wildlife biologist who also served as an Army infantry sergeant during the Iraq War. For almost six years he has worked in Alaska for the U.S. Fish and Wildlife Service, protecting marine mammals. It has been his job to ensure that Shell’s plans to drill more than 60 miles offshore in the Chukchi Sea—the wild Arctic water between Alaska and Siberia—wouldn’t harm Pacific walruses, particularly the juveniles, calves, and nursing mothers that dominate the Chukchi during the drilling season. read more

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