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Posts under ‘Total’

Yet More Problems Hit the World’s Largest Oil Project

Extract from an article by Rupert Hargreaves published 16 April 2014 by The Motley Fool Simply put, H2S is eating away at the undersea pipelines, causing cracks and fractures. Gas needs to travel through these lines for the project to start production, and engineers can’t just patch the system up; the whole pipeline network may […]

Kashagan oil field: Stuck between ‘a widow maker’ and ‘a rotating bomb’

Extracts from a Reuters INSIGHT article by Oleg Vukmanovic and Stephen Jewkes published 3 April 2014 Western oil majors struggling to restart production at one of the world’s biggest offshore oilfields in Kazakhstan have found that whole kilometres of pipeline are defective, two people recently returned from the $50 billion project say. Oil company investigators […]

Crackdown on Russia Could Hurt Western Oil

Extracts from an article by CLIFFORD KRAUSS published in print on March 28, 2014, on page B1 of the New York edition of The New York Times with the headline: Crackdown on Russia Could Hurt Western Oil. As the United States seeks to strengthen sanctions on Moscow for its occupation of Crimea, energy experts say […]

Cash All Gone

Extracts from an article by Jim Landers published on 10 March 2014 by The Dallas Morning News under the headline: “Petroleum project costs worldwide benefit Texas prospect” The cost of developing the world’s largest oil and natural gas fields has reached heights straining the budgets of even the largest oil companies. Royal Dutch Shell, Exxon […]

Kazakhstan sues Kashagan oil group for $737 mln in pollution case

Extracts from article by Dmitry Solovyov published on 7 March 2014 by Reuters ASTANA, March 7 (Reuters) – Kazakhstan is suing the multinational consortium developing the huge Kashagan oilfield in the Caspian Sea for 134.2 billion tenge ($737 million) over damage to the environment, the Environment Protection Ministry said on Friday. Production at Kashagan, the […]

Iran courts western oil majors at Davos

FINANCIAL TIMES In a closed-door meeting on Thursday, including BP, Eni, Royal Dutch Shell and Total, on the sidelines of the World Economic Forum in Davos, Mr Rouhani and his oil minister Bijan Namdar Zanganeh told executives to submit contracts they would like to see Iran adopt. FULL FT ARTICLE

Shell to Sell Stake in Australian Gas Field

“All too often, Shell’s answer to an issue or problem is that the market is being too short term; that Shell takes the long term view, and that in the long term, the company’s approach will be proved right,” Lucas Herrmann, an analyst at Deutsche Bank in London, wrote in a note to clients on […]

Total dips a toe in UK shale but BP and Shell unlikely to follow

The French company trumpeted becoming the “first major to enter into shale gas licences in the UK”, calling it an “important milestone”. But its stance contrasts starkly to that of Shell, whose British chief financial officer Simon Henry said last year it had no desire to be “first in and be in the headlines every day […]

UAE takes charge of big oilfields for now as western majors’ deals expire

Four of the world’s largest stock-listed energy companies – ExxonMobil, Royal Dutch Shell, Total and BP – have each held 9.5 percent equity stakes in the ADCO concession since the 1970s and would be keen to prolong their involvement. Wed Jan 8, 2014 2:58pm EST * Foreign oil company staff to keep working as service […]

Western energy companies flocking to China to unlock shale reserves

FINANCIAL TIMES ExxonMobil, Chevron and ConocoPhillips of the US, and Royal Dutch Shell, Total and Eni from Europe, are among the international oil companies that have signed deals to explore shale resources in China. Yet for all the excitement, the future of China’s shale remains cloudy.  FULL FT ARTICLE

Crippled Kashagan oil project a bureaucratic “nightmare”

The consortium, which includes ExxonMobil, Royal Dutch Shell, Total and Kazakh state oil firm KazMunaiGas, first put one of the smaller partners – Italy’s Eni – in charge of construction and delivery in 2001/02. They retreated from that decision in 2008/09 after years of delays and cost escalation, opting instead for collective responsibility. “It’s a […]

Eni CEO Doesn’t See Kashagan Output Stoppage Running into 2015

December 6, 2013 A prolonged halt at the Kashagan oil field, which has been plagued by years of delays and cost overruns, could be a drag on the finances of the consortium behind the project, which includes Exxon Mobil Corp, France’s Total SA, Eni and Royal Dutch Shell PLC). FULL ARTICLE RELATED REUTERS ARTICLE World’s […]

BP and Shell among oil firms Iran wants back in country

Iranian Oil Minister seeks talks with oil giants to return Iran to help tap world’s fourth-largest oil reserves after sanctions are lifted By Reuters: 2:25PM GMT 04 Dec 2013 Iran on Wednesday named seven Western oil companies it wants back in its vast oil and gas fields once international sanctions are lifted and said it […]

European oil giants to talk terms with Iran

Oil ministry officials from Tehran to meet executives from European oil companies and industry experts in London early next year to present the terms upon which they will be invited back By Andrew Critchlow: 8:00PM GMT 01 Dec 2013 Iran is stepping up its engagement with European oil companies ahead of inviting them back to […]