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Keystone and the Riddle of the Tar Sands

BY MARK DOWIE 2/25/15 AT 10:49 PM Late 21st-century graduate students of business studying the growing problem of stranded assets will almost certainly focus on the history of Canada’s Athabasca Oil Sands (a.k.a. the tar sands). The case studies they read will either describe the gradual abandonment of the world’s largest reserve of bituminous crude […]

Oil and gas industry in ‘bleak’ 2014, finds survey

FROM A BBC ARTICLE PUBLISHED 24 FEB 2015 Oil and gas industry in ‘bleak’ 2014, finds survey The UK offshore oil and gas industry has reported its worst annual performance for four decades. Industry body Oil & Gas UK said falling oil prices and rising costs meant the sector spent and invested £5.3bn more than […]

SEC continuing to scrutinise Shell’s claimed oil reserves

By John Donovan A letter emailed to Royal Dutch Shell Plc Chief Executive Officer, Ben van Beurden, on 23 Oct 2014, from the U.S. Securities & Exchange Commission, asked why Shell had omitted to supply in a Form 20-F filing, figures for Shell’s share of Kashagan proved undeveloped reserves. Shell’s partners in the much troubled Kashagan oil […]

BIG OIL: Who will blink first to set the M&A scramble in motion

With more than $110 billion of oil and gas assets on the block as companies big and small count the cost of the collapse in oil prices, it is now a question of who will blink first to set the M&A scramble in motion. Article published by Reuters 30 Jan 2015 under the headline: Buyers […]

Oil rout gives Exxon and Shell reason to buy rival ‘sisters’

…a major deal over the next year that will bring together two of the super majors, or see one of their smaller rivals swallowed up, is highly likely – and almost a certainty if historical precedent is anything to go by. Certainly, if the oil rout of the late 90s is anything to go by, a […]

Shell to cut spending by $15 bln over next 3 years

Jan 29 (Reuters) – Oil major Royal Dutch Shell said on Thursday it would curtail spending by $15 billion over the next 3 years while keeping dividends stable in a bid to calm investors amid plunging oil prices. Europe’s largest oil company by market value kept its fourth-quarter dividend stable versus the previous quarter at […]

Crude at $49: The New Reality for Big Oil Companies

FROM BLOOMBERG Crude at $49: The New Reality for Big Oil Companies by Joe Carroll (Bloomberg) — Financial results from a fourth quarter that saw the collapse of the crude market will provide a window into how the world’s biggest oil companies are adjusting to a new reality of slowing growth and low prices. Oil that […]

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 […]

Shell, Total Lead Energy Shares Lower – $45 a barrel

From an article by Alan Soughley published by BloombergBusinessweek 13 Jan 2015 under the headline:  “European Stocks Decline; Shell, Total Lead Energy Shares Lower” Extracts Royal Dutch Shell Plc and Total SA led energy-related companies lower… A gauge of energy stocks slid 1 percent today, for the worst performance of the 19 industry groups on […]

Oil price rout hits credit rating of Royal Dutch Shell Plc

Standard & Poor’s warned today that the six-month collapse in oil prices has undermined the credit ratings of Royal Dutch Shell, BP and Total. Extract from warning issued by Standard & Poor’s: We have revised to negative our outlooks on three oil majors, while affirming the credit ratings on these companies to reflect that we […]

Tumbling crude prices will lay waste to countries and companies alike

By John Donovan The oil industry is leaving 2014 on a low note as far as oil prices are concerned.  A financial earthquake has hit ExxonMobil, Royal Dutch Shell, BP, Chevron, Conocophillips and Total.  The Sunday Times devoted a whole page article by Danny Fortson to the turmoil resulting from the collapse in the price […]

Shell’s Return to Iran?

Iranian officials have said that Royal Dutch Shell, British Petroleum, France’s Total and Russia’s Lukoil had expressed interest in investing in Iran when the sanctions imposed on Tehran over its nuclear program are eased. MOSCOW, December 8 (Sputnik) — Iran will offer foreign investors new oil contracts amounting to $40 billion at an international conference […]

Prospects of a Shell BP merger

FROM A REGULAR CONTRIBUTOR Firstly, falls in oil price and resulting low stock prices tend to result in waves of takeovers. Examples during the low price era of the late 1990s – early 2000s: · Exxon took over Mobil · Statoil took over Saga, Norsk Hydro · Chevron took over Texaco, Unocal · Total took […]

Oil company shares slumped

OPEC’s decision on Thursday not to cut production in order to prop up oil prices sent markets reeling. Oil company shares slumped, wiping billions off firms’ market value… As they come to terms with the new oil regime, companies will cut spending by up to 10 percent in 2015… and delay new project approvals. LONDON, […]

Oil prices continue to fall

Shell, BP and Petrofac shares close down as Opec decides not to cut oil production. Stocks of major oil producers were in the firing line as their profits are hugely dependent on the price of oil they extract. Royal Dutch Shell, for example, fell 4.3 percent while Total SA dropped 4.1 percent. LONDON — Oil […]

OPEC IN DISARRAY AS OIL PRICE TUMBLES

Major Opec nations, Russia and US shale oil drillers now appear on the brink of a price war as these three giant producing blocs fight for a greater share of global demand. (Potentially disastrous news for Big Oil – ExxonMobil, Shell, BP, Chevron and Total) The Telegraph: World on brink of oil price war as Opec […]

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