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Posts under ‘Shell Project Delays’

Shell Prelude FLNG project relegated to backburner

By John Donovan

A Reuters article published today reports that a collapse in the benchmark price of gas has hit Shell’s “long-delayed $12.6 billion Prelude project off northwest Australia”.  Citing Shell Prelude, it says that FLNG projects are being relegated to the backburner.

Shell executive VP Steve Hill is quoted as admitting: “There was maybe an expectation when Prelude was being conceived that this was the future and every LNG project would look like that. I think that got kind of superseded by the U.S. being the primary source of new LNG supply ..”

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Macquarie eyes Irish gas giant

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By:  Danny Fortson – The Sunday Times

The Australian investment giant nicknamed the “vampire kangaroo” is hoping to sink its teeth into Ireland’s £3bn Corrib gas field.

Macquarie, one of the largest owners of British infrastructure, is understood to have approached Shell over a deal that could value the FTSE 100 giant’s 45% stake in the project at more than £1bn. It is unclear whether the Australians have tabled a formal bid.

Corrib started producing a year ago after years of delays and protests from fishermen, environmentalists and locals.

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Kashagan oil field allegations ignored by Shell exec Andy Brown?

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By John Donovan

Printed below are extracts from a communication received from a Shell Civil Engineer who, until recently, worked on the construction of the ill-fated Kashagan oil field.

He says his dire warnings in regard to construction issues were escalated to Shell top management, including Andy Brown, but were ignored.

He has also raised the subject of Shell depriving sacked workers tax breaks on redundancy pay. A policy he describes as theft.

The same source supplied related, apparently authentic, Shell emails.

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Lament for Royal Dutch Shell

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Kashagan AKA “Cash All Gone”

Forgot the initial cost estimate, probably around $8-10 billion. Now 10+ years too late and ballooned to $50 billionMost normal companies would have gone bust long ago.

Shell inherited some beauties from the boys of the roaring 90s. I hope someone will write a book one day on this era. 

Reserve crisis, Pearl, Sakhalin, Kashagan, Alaska, tarsands, and I must have forgotten a few. Repeated over-promise and under-delivery. All many billions over budget, extreme overruns in startup, loss in AAA status, removal of operational and technical expertise. I find the silence on Prelude ominous. Probably goes the same way as the others.

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Links to over 265 articles by a host of different publishers including the FT, Wall Street Journal, Reuters etc., all containing references to RoyalDutchShellPlc.com or its founders

screen-shot-2016-09-19-at-15-34-38Links to over 265 articles by a host of publishers including the FT, Wall Street Journal, Reuters, Dow Jones Newswires, Bloomberg, New York Times etc., containing references to this website, or its founders Alfred and John Donovan (photo right).

Includes newspaper and magazine articles, and newsletters. All in date order.

WALL STREET JOURNAL ARTICLE: “Shell Wages Legal Fight Over Web Domain Name”: 2 June 2005

BLOOMBERG ARTICLE: “Shell in Legal Battle Over Name of Web Site, Journal Reports“: 2 June 2005

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Shell Ireland gets €50m injection for Corrib Gas

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Gordon Deegan: Thursday, March 31, 2016

Shell Ireland has received a further €50m cash injection from oil giant Shell, as the Irish firm finally generates revenues from the long-delayed and controversial €3.6bn Corrib Gas field.

The increase of €50m in capital at Shell E&P Ireland Ltd is confirmed in new documents lodged with the Companies Office, which show that the authorised share capital at the firm now stands at €1.4bn.

Shell and its Corrib Partners over 2015 and 2014 spent €580m, made up of an investment of €260m last year and €320m in 2014 to bring gas ashore.

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Shell Corrib firm gets €70m cash injection

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Screen Shot 2016-02-04 at 09.01.56Shell Corrib firm gets €70m cash injection

Gas began flowing from the field only in the past few weeks – 11 years behind schedule.

By John Mulligan: 4 FEB 2016

Oil giant Shell injected €70m into its Irish unit that’s behind the Corrib gas project in recent months as the field prepared to begin delivering gas, new filings show.

The Corrib gas field is located 83km off Ireland’s west coast in depths of almost 350 metres.

Gas began flowing from the field only in the past few weeks – 11 years behind schedule.

Shell owns a 45pc stake in the Corrib field, with Norway’s Statoil owning 36.5pc. Canadian firm Vermilion owns 18.5pc.

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20 years after gas discovery, Corrib opens in north Mayo

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Lorna Siggins: 24 JAN 2016

The €3.5 billion Corrib gas development is due to be opened by Minister of State for Natural Resources Joe McHugh on Monday, almost 20 years after the gas discovery was reported off the north Mayo coast.

Taoiseach Enda Kenny had been earmarked for the invitation-only event, but will be at Downing Street in London. Corrib shareholders Shell, Statoil and Vermillion are hosting a plaque unveiling and lunch in Belmullet, almost 15km from the gas refinery.

While much of the town’s focus is currently on sale of the €13.7 million winning Lotto ticket in Carey’s newsagent, the project opening represents a significant milestone.

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Ruairí McKiernan: Corrib gas protesters did State some service

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…many of those involved have been ridiculed, slandered, spied on, harassed, beaten and jailed – all for upholding their democratic right to peaceful dissent. Incidents included the 2005 jailing of the Rossport Five, who spent 94 days in prison at the behest of Shell.

Ruairí McKiernan

As gas is flared into the skies above north Mayo, it is worth reflecting on a project that has been one of modern Ireland’s greatest scandals, a stunning fiasco in planning, economics, environmental protection and the abuse of civil liberties.

Far from it being just about energy supply, jobs and development, the Corrib gas project cuts to the core of this republic and asks big questions about how the country is run.

For more than 10 years now, campaigners have attempted to highlight the project’s many flaws.

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Natural gas begins flowing from controversial Corrib field

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Peter Murtagh: 30 Dec 2015

Natural gas is flowing into the national supply grid from the Corrib gas field off Co Mayo for the first time since it was discovered in 1996.

One of six wellheads, drilled in 350m of water 84km off the west coast, was opened on Wednesday by the field developer, Shell E&P Ireland.

This started gas flowing through a 20 inch diameter off-shore pipeline to an 8.3km-long on-shore pipeline, which includes a 4.9km tunnel beneath Sruwaddacon Bay, the longest in Ireland.

It continues from there into the company’s reception terminal at Ballanaboy, near Belmullet in Co Mayo.

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Desperate measures for a desperate Corrib project

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Screen Shot 2015-12-30 at 16.57.35New Release – Issued by Shell to Sea – December 30th 2015 – For immediate release

—  Minister White slips consent to Shell during Christmas period —

Shell to Sea have called the granting by Alex White of consent to operate the Corrib Gas pipeline – desperate and disgraceful. Permission was granted despite Shell’s EPA consent to operate the Corrib Gas refinery currently being admitted for hearing before the High Court. [1]

Shell to Sea is of the view that Shell possibly had contractual obligations which required that Corrib gas flow before end 2015 so they once again snapped their fingers at government to do the needful – in this instance the government of ‘law and order’ has shown itself no different to Fianna Fáil.

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Concern over Shell gas flow delay

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Concern over Shell gas flow delay

Saturday, 26th December, 2015

A MAYO TD has expressed concern over the delay in issuing the final regulatory approval to Shell E&P Ireland that will enable the company to start producing gas from the Corrib Gas Field in north Mayo.

Deputy Michelle Mulherin said it is the interest of the State to have gas flowing and she called on Energy Minister Alex White to ensure the assessment process be given additional resources and expedited.

She argued: “From an international point of view it doesn’t send out a great message, especially as we continue to press hard to attract further foreign direct investment into this country. The last thing the country wants is to be seen as ‘the poster boy for frustration’ by people in industry and trade who could be put off in investing here.

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