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Royal Dutch Shell spent $1.32bn on R&D last year

By John Donovan Ed Crooks of the Financial Times has written a wide-ranging and informative article about oil company spending on R&D. Oil majors’ R&D into conventional and renewable energy at risk Royal Dutch Shell spent $1.32bn on R&D last year. The FT article quotes Gerald Schotman, Shell’s executive VP of R&D, as saying its […]

Potential serious impact on Shell from new Sanctions on Russia

American and European explorers such as Exxon and Royal Dutch Shell Plc , which is drilling in Siberian shale rock formations, will have to act fast to avoid violating the bans. “Those new sanctions imposed on Russia by the U.S. and Europe on Friday will, among other things, force Exxon Mobil, Royal Dutch Shell… and […]

Royal Dutch Shell Retreat from Nigeria

The FT states: “Shell’s phlegmatic chief executive Ben van Beurden will need to hold his nose when he takes the money…” and in a related article, describes Shell’s actions as a “retreat from the Niger Delta” (triggered in part by militancy, violence and bunkering). By John Donovan The global firesale of Shell assets continues with […]

Shell one of 5 Companies Al Gore Says Are Doomed

“Royal Dutch Shell is another company with a doomed oil sands project, according to the Carbon Tracker Initiative. Its Carmon Creek project needs oil prices to hit $157 per barrel in order to be profitable. On top of that, Royal Dutch Shell is seeking to drill for oil in the Arctic, which has already wasted […]

Project Delays Will Cost These Oil Majors Billions

Extracts from a Motley Fool article by Rupert Hargreaves published 28 July 2014 In total, Kashagan is now expect to cost a total of $136 billion, more than 140% above initial estimates. Production has been consistently delayed; the most recent delay, which occurred at the end of last year, concerns the project’s pipelines. At present, […]

Oil majors BP and Shell may be ready for more mergers

Some of Shell’s big shareholders are said to be frustrated by the company’s continued spending on expensive far-flung projects that fail to yield healthy returns. Alongside its profit warning at the start of this year, Shell announced that it was halting a controversial exploration programme off the coast of Alaska because the costs had far outweighed […]

Kashagan delays mar outlook for Eni, Total and Shell

Extract from FT article by Guy Chazan published 20 July 2014 Three of Europe’s largest oil companies could take a $1.5bn hit to earnings as a result of delays to Kashagan, the $50bn oil project in the Caspian Sea that has been bedevilled by hold-ups and cost over-runs. FULL FT ARTICLE Copyright The Financial Times […]

Shell ending investments in gas development project in Saudi Arabia

Reuters article published by ArabNews.com Monday 7 July 2014 DUBAI: Royal Dutch Shell is ending investments in a gas development project in Saudi Arabia, complicating the top oil exporter’s efforts to exploit its huge gas reserves. The search for gas has been a priority for Saudi Arabia as it struggles to keep pace with rapidly […]

Pipeline problems cloud Kashagan oil outlook

Extract from a Geoff Hiscock article published by The Australian on 2 July 2014 A YEAR ago, one of the world’s biggest oil and gas projects, the massive Kashagan field in Kazakhstan’s part of the Caspian Sea, was on the verge of starting production after more than a decade of development and US$40 billion in […]

Shale’s junk debt could get shaky if Fed raises rates

Extracts from a Houston Chronicle article by Collin Eaton published 27 June 2014 (Good article. Not Shell specific, but a generic problem to which Shell is heavily exposed) Two years after natural gas prices collapsed, Chesapeake Energy’s $12 billion in corporate debt last month nearly made it out of junk territory. The natural gas producer […]

Kashagan ‘Cash All Gone’ Pipeline Debacle

Shell has been a key participant in the Kashagan project consortium which includes Eni and ExxonMobil. Given its notorious track record of over-promise and under delivery, having Shell involved is a bad omen for any elephant project. By John Donovan The latest news from the “Cash All Gone” project (as it is widely known) is […]