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Posts Tagged ‘Alaska’

Royal Dutch Shell Management Presents Its “World-Class Investment Case”

Management thinks the things it has done in recent years will set it up to deliver huge returns for shareholders.

Tyler Crowe (TMFDirtyBird) Mar 19, 2018  It’s hard for a $250-billion-plus business to change its stripes, butRoyal Dutch Shell’s(NYSE:RDS-A)(NYSE:RDS-B) has done a rather incredible job over the past few years transforming the company into one of the most compelling investments in the integrated oil and gas industry. 

Now that Shell has weathered the storm of low oil prices and is back to generating returns, management has plans both within and without the oil industry to preserve what it calls a “world-class investment case.” Here are several quotes from the company’s most recent earnings conference call that highlight some of the efforts Shell is taking to both grow the business and make the stock a better investment. read more

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Why Trump’s Offshore Drilling Expansion Won’t Be So ‘Yuge’

…these are also the same waters unsuccessfully explored by Royal Dutch Shell in 2015, after which the company halted Arctic operations for the foreseeable future.

Sam Ori , Contributor: 

Interior Secretary Ryan Zinke released the Trump Administration’s long-awaited offshore drilling proposal last week. Once enacted, the plan will replace the existing leasing schedule, which was designed by the previous administration and had been set to run through 2022. New administrations are free to scrap the hold-over plans of prior administrations, and anyone who followed the 2016 presidential campaign knew that President Trump had a dramatically different view of offshore energy development than his predecessor. FULL ARTICLE read more

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New Arctic Well Spudded

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Oil exploration in U.S. Arctic waters got underway this week with the spudding of a new oil well from the man-made Spy Island in the Beaufort Sea. Eni began drilling the new well off the north coast of Alaska, becoming the first company to do so since 2015.The well is expected to be over six miles (10 kilometers) long, and the project could result in oil production levels of 20,000 barrels a day. Eni is working with Royal Dutch Shell and plans to drill two exploration wells plus two potential sidetrack wells over the next two years. FULL ARTICLE read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Italy’s Eni begins drilling oil well in Alaska’s Beaufort Sea: BSEE

DECEMBER 27, 2017

HOUSTON (Reuters) – Italian oil producer Eni this week began drilling a new well in U.S. waters off the north coast of Alaska, becoming the first company to do so since 2015, federal regulators said on Wednesday.

The oil and gas firm is working from an artificial island in the Beaufort Sea about three miles off Oliktok Point in the Arctic Ocean. The well is expected to run more than 6 miles (10 km) long.

The project could result in 20,000 barrels a day of oil production, according to regulator U.S. Bureau of Safety and Environmental Enforcement (BSEE), which said it sent employees to the site to ensure compliance with federal regulations and safety standards. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell News Update 24 Dec 2017

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Feds approve first oil exploration in Arctic federal waters since Shell

It’s the first oil exploration in Arctic federal waters since Shell abandoned its campaign in 2015.

The company, Eni, aims to begin drilling in December. It will operate from an existing man-made gravel island called Spy Island. Spy Island is about three miles offshore, in state waters west of Prudhoe Bay.

The prospect is about four miles away from the island, so Eni plans to use extended-reach drilling. According to the company, it will be be the longest extended-reach well in Alaska. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell News 10 July 2017

After Iran move, Total seen in pole position to snap up Qatar gas deals: Reuters: 10 July 2017

Total is well placed to take a lead role in helping Qatar expand output from the world’s largest gas field, largely thanks to its involvement in the Iranian side of the shared deposit, two sources familiar with Doha’s thinking said. That puts the French oil major ahead of rivals like Exxon and Shell… Read More

Native corporation makes move toward exploring for oil in Arctic Ocean, where Shell failed: Alaska Dispatch News: 10 July 2017

A subsidiary of Alaska’s wealthiest regional Native corporation is moving ahead with plans to follow in the footsteps of Shell and explore for oil in the U.S. Arctic Ocean. Read More read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

More Shell News 29 June 2017

Shell acquires local power company MP2: Houston Chronicle: 29 June 2017

Royal Dutch Shell said Thursday that it plans to acquire MP2 Energy, a power and retail electric company based in the Woodlands, as the oil major seeks to diversify its business.

Trump says the Atlantic, Arctic could soon be open to oil drilling: The Washington Post: 29 June 2017

The White House is making a bid to overturn the Obama administration’s five-year plan forbidding oil and gas exploration in the Arctic and Atlantic oceans and will examine opportunities to drill almost anywhere off the U.S. coast. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Role of a hapless Ann Pickard in OPL 245

By John Donovan

During the period that Shell was conniving in setting up the OPL 245 deal, the company had a vice-like grip on the oil wealth of Nigeria and more power than the Nigerian government. This information comes from an analysis of leaked secret US embassy cables.

Ann Pickard, a then senior Shell executive, was directly involved in the OPL 245 deal, and the primary indiscreet source of the secret information.

Extracts below from various publications provide evidence of her role in OPL 245. They are followed by astonishing related extracts from a Guardian newspaper article about the leaked classified cables. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Obama’s April Fool’s Joke Approving Shell Arctic Drilling

Obama’s April Fool’s Joke Approving Shell Arctic Drilling

By John Donovan

On 1st April 2015, President Obama’s administration upheld a 2008 lease sale facilitating Shell’s return to oil and gas drilling off Alaska.

See this Reuters Report: Here’s why Obama is approving Artic Drilling again

This decision despite Shell’s farcical exploits in 2012.  Many readers will recall that a Shell hired drilling rig – a rusty ancient vessel – ran aground after Shell sent it to sea despite a storm warning.

The reckless move was made in an attempt to evade taxes. Shell admitted, then denied, then admitted, that this was the case. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Obama Said to Use 1953 Law to Permanently Block New Drilling Leases in Arctic, Atlantic

The Shell-contracted rigs Kulluk (left) and Noble Discoverer (right) set sail from Seattle in July 2012 for Royal Dutch Shell’s ultimately unsuccessful drilling campaign offshore Alaska in Summer 2012. Photo credit: Vigor Industrial

December 19, 2016 by Bloomberg

By Jennifer A. Dlouhy

(Bloomberg) — President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to two people familiar with the decision. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

After Alaska flop, Shell’s search for oil moves closer to home

By Ron Bousso | LONDON

In the waters off Malaysia, Royal Dutch Shell (RDSa.L) is finding gas quickly and cheaply to replenish depleting fields where only a few years ago geologists had lost hope of discovering any new reserves.

The Anglo-Dutch group is combining the latest technology with the wisdom of industry veterans to unlock new oil and gas deposits where it already operates, usually within 20 km (12 miles) of existing platforms.

The result has been a string of finds which, while modest in size, can generate cash rapidly to suit an era of drastically reduced exploration budgets across the energy industry. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Obama administration bans Arctic offshore oil drilling through 2022. But will Trump reverse it?

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By William Yardley: 18 Nov 2016

The Obama administration said Friday it was banning offshore oil drilling in the Arctic through 2022, a move that prompted widespread praise from conservation groups but raised questions over how long the decision will stand just two months before President-elect Donald Trump takes office.

A new five-year leasing program prohibits any drilling in the Beaufort and Chukchi seas — an environmental battleground in recent years —and also blocks expansion in the Atlantic and Pacific oceans, while allowing some new leasing in the Gulf of Mexico. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Not dead yet

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By Ed Crooks: November 19, 2016

The last rites have been read over the Age of Oil a few times recently, but this week the International Energy Agency suggested there was still plenty of life left in it yet.

In its 2016 World Energy Outlook, the IEA argued that even if the Paris climate agreement were fully implemented, demand for oil would keep rising until at least 2040.

The message was reassuring for oil producers worried that “peak demand” might condemn them to stagnation or decline, or even put them out of business. There was colder comfort, however, in a warning from Wood Mackenzie that big oil companies risked being left behind in the transition to low-carbon energy. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Royal Dutch Shell’s Q3 Earnings: Good, but Not As Great As Some Have Declared

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Tyler Crowe: (TMFDirtyBird): Nov 1, 2016

It seems that now when an oil company’s earnings increase, financial pundits say it “rocketed” upwards or some other hyperbole like that. Sure, Royal Dutch Shell’s (NYSE:RDS-A) (NYSE:RDS-B) third-quarter results were better than the past few quarters thanks to the BG Group deal, but the devil’s in the details. Let’s take a look at the company’s results and why they improved, as well as peek into Shell’s near-term future as 2017 comes into focus.  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

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. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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