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Posts under ‘Reuters’

Shell gives up on big subsea project in Norway

Extract from a Reuters article by Balazs Koranyi published 11 April 2014 (Reuters) – Royal Dutch Shell has postponed an innovative project to provide subsea gas compression on Norway’s Ormen Lange field, one of the biggest gas fields in Europe, it said on Friday. “The oil and gas industry has a cost challenge,” Shell said […]

Congressional Committee was lobbied on behalf of Shell derivatives trading arm

Extract from a Reuters article published 10 April 2014 under the headline: “Non-banks notch a win in battle of derivatives” Companies including INTL FCStone Inc, Nomura Holdings Inc, Cargill Inc and Royal Dutch Shell Plc lobbied a congressional committee to change a rule proposed by the U.S. Commodities Futures Trading Commission on how much capital […]

Ride to lower costs for LNG-run trucks rockier than expected

Extracts from a Reuters article by JULIE GORDON published Wed 9 April 2014 While the lack of fueling infrastructure remains the largest hurdle, other operational teething pains are now tempering some of the growth in LNG use that was expected to further reduce oil demand in North America, as well as carbon emissions, according to […]

Shell, CNPC to cooperate in deep-sea exploration, shale gas

Extracts from a Reuters article published Wednesday 9 April 2014 BEIJING, April 9 (Reuters) – Royal Dutch Shell and the China National Petroleum Corp(CNPC) have signed a deal to boost cooperation in sectors like deep sea exploration as well as liquefied natural gas (LNG) and unconventional gas sources like shale, CNPC said on Wednesday. The […]

Fracking earthquakes

Extract from an article by Carey Gillam published by Reuters, 5 April 2014, under the headline: Series of small earthquakes rock Oklahoma in record seismic activity (Reuters) – Earthquakes rattled residents in Oklahoma on Saturday, the latest in a series that have put the state on track for record quake activity this year, which some […]

Finnish market watchdog sanctions Shell chairman Ollila

HELSINKI, March 26 Wed Mar 26, 2014 2:14pm EDT (Reuters) – Finland’s financial watchdog said it has imposed a 3,000 euro fine against Jorma Ollila, the board chairman of Royal Dutch Shell Plc as well as Outokumpu Oyj for not declaring a company he controlled to a public insider register. A spokeswoman for the Finnish […]

Shell to keep trading with Gunvor – email

 Extracts from a Reuters article published 21 March 2014 (Reuters) – Royal Dutch Shell traders are allowed to keep dealing with commodities trading house Gunvor after the United States imposed sanctions on its co-founder, Shell said in an internal email seen on Friday by Reuters. The email said Shell had been able to review the […]

Shell cuts spending in U.S. to lower shale exposure

Extracts from a Reuters article by Karolin Schaps and Dmitry Zhdannikov published 13 March 2014 LONDON, March 13 (Reuters) – Royal Dutch Shell will cut spending by a fifth and lay off staff at its American exploration and production business, the company said on Thursday, in another sign that oil majors are struggling to profit […]

Shell says Nigerian oil theft costs billions

Extracts from a Reuters article by Alex Lawler and Simon Falush published 13 March 2014 * Shell says $1 bln/month oil theft figure probably accurate * Proposed legal changes curbing Nigeria’s oil output * Some Nigerian risks worsened, Shell says in annual report Nigeria is important for Shell because the African country provides almost 10 […]

Former Shell boss’s pay halved after poor performance

Extracts from a Reuters articled published Thursday 13 March 2014 (Reuters) – The pay of Royal Dutch Shell’s former chief executive, Peter Voser, halved to $11.24 million last year following what the company described as a disappointing performance. Shell suspended its controversial Arctic drilling programme earlier this year and pledged to cut spending and streamline […]

Shell to cut Americas upstream spending by 20 pct

Reuters article published LONDON, March 13 Thu Mar 13, 2014 3:14am EDT (Reuters) – Royal Dutch Shell said on Thursday it was cutting spending on American upstream by a fifth this year after it was impacted by losses in resources plays such as shale. “Shell is shrinking this portfolio and cost base, with 2014 spending […]

Shell says Ho-Ho pipeline shut after leak in Texas

Extracts from a Reuters  article by Selam Gebrekidan published on 7 March 2014 by The Chicago Tribune NEW YORK (Reuters) – Royal Dutch Shell on Friday said construction crew members punctured its Houston-to-Houma (Ho-Ho) pipeline near Port Neches, Texas, on Thursday afternoon, releasing 364 barrels of crude oil. The company said it shut the pipeline […]

Third time unlucky: why Gazprom wants no new gas war

Extracts from an article by Dmitry Zhdannikov published on 7 March 2014 by Reuters Over the past decade, Gazprom, 51-percent controlled by the state, has twice cut its supplies to Ukraine over pricing disputes with Kiev. That action also cut supplies to the EU, which gets 50 percent of Russian deliveries via Ukraine. Gazprom also […]

BP To Establish US Shale Assets As Separate Unit

Extracts from an article by Sarah Young & Dmitry Zhdannikov published on 4 March 2014 by Reuters LONDON, March 4 (Reuters) – British oil company BP plans to separate its onshore U.S. oil and gas assets into a new wholly-owned business to improve the competitiveness of its shale gas portfolio there. A number of big […]