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Posts Tagged ‘Canada’

Energy groups ax $100B in total spending after oil rout

Article by: Carl Surran, SA News Editor, Seeking Alpha: 18 May 2015 Energy groups ax $100B in total spending after oil rout More than $100B of spending on at least 26 major projects by the world’s energy companies has been slowed, postponed or canceled in the wake of plunging oil prices, including Royal Dutch Shell […]

Shell exploration plans in Alaska stoke concern, hope in Canada

By Lauren Krugel, The Canadian Press Posted: May 13, 2015 Shell exploration plans in Alaska stoke concern, hope in Canada Royal Dutch Shell’s plans to explore for oil off Alaska’s northwestern coast are being closely watched in Canada with a mixture of hope and concern.  Earlier this week, the energy giant cleared a major hurdle when the U.S. Bureau […]

Shell to take over marketing most of Alberta’s oil-royalty barrels

By Nia Williams CALGARY, Alberta, May 11 (Reuters) – Shell Trading Canada, a unit of Royal Dutch Shell (Xetra: R6C1.DE – news) , will take over the task of marketing nearly all the barrels of crude oil that the province of Alberta receives from producers as royalties. From June 1, Shell (LSE: RDSB.L – news) […]

Nigeria: Shell Rules Out Divestment in Nigeria, Others This Year

Article by Daniel Adugbo published 1 May 2015 by AllAfrica.com Shell Rules Out Divestment in Nigeria, Others This Year Royal Dutch Shell said yesterday it had reduced its expected 2015 capital expenditure (capex) to $33 billion from $35 billion as the company continues to adjust its business to the lower oil-price. Releasing its first-quarter results […]

Shell cuts 2015 capex, sees downstream downturn

Shell cuts 2015 capex, sees downstream downturn London (Platts)–30 Apr 2015 * Capex reduced by more than $2 billion * Decision on Majnoon development pushed back to 2017 * CFO says refining margins already worsening Shell said Thursday it had reduced its expected 2015 capital expenditure to $33 billion from previous guidance of a little […]

Shell takes hit of £3.2bn amid weak oil price as UK companies’ profit warnings go up

By JON REES, FINANCIAL MAIL ON SUNDAY: 26 April 2015 Shell is expected to report this week that the weak oil price wiped two-thirds off its earnings in the first three months of the year. The Anglo-Dutch oil giant, which has tabled a £46billion cash-and-shares deal to buy British gas explorer BG Group, is poised to […]

BP, Shell ship Canada crude cargoes from Texas to Europe: ClipperData

(Reuters) – BP Plc and Royal Dutch Shell each have shipped cargoes of Canadian crude oil out of the Texas coast this month, according to industry firm ClipperData, highlighting a once-rare journey that is expected to become more common. The two Aframax tankers loaded from Enterprise Products Partners LP’s export terminal in Freeport, Texas, according to the […]

Shell will resume drilling off Alaska coast: U.S. Arctic envoy

By David Ljunggren OTTAWA (Reuters) – Royal Dutch Shell will resume drilling off Alaska after suspending operations for two years in the wake of an accident, the special U.S. envoy to the Arctic said on Monday, but gave no details as to when. Shell has been moving oil rigs to Alaska as it awaits the […]

Shell sees only 15%-20% of Canada LNG projects advancing

Article by Carl Surran published 25March 2015 by SeekingAlpha.com Shell sees only 15%-20% of Canada LNG projects advancing A top executive at Royal Dutch Shell (RDS.A, RDS.B) says he expects only 15%-20% of liquefied natural gas export projects already approved by the Canadian government to go ahead in the next decade. Markus Hector, Shell’s general […]

Massive Layoffs Occurring in the Oil Industry

From an article by Wall Street Sector Selector Staff published 19 March 2015 read moreLike this:Like Loading…

Prices Fall to a Six-Year Low for U.S. Oil

Article by Stanley Reed published 17 March 2015 in the New York edition of the New York Times Prices Fall to a Six-Year Low for U.S. Oil Oil prices fell to six-year lows on Monday in the face of concerns that a glut in the United States was outpacing already-brimming storage facilities. Additionally, the Organization […]

JP Morgan Warns Royal Dutch Shell Investors

By: MICHEAL KAUFMAN Published: Mar 2, 2015 at 12:24 pm EST In a report published on Monday, JP Morgan has advised the stock market participants to keep an eye on the “five key factors” that could undermine RoyalDutch Shell plc (ADR) (NYSE:RDS.A) earnings during the first quarter of fiscal 2015 (1QFY15). JP Morgan is of […]

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 […]

Canada’s energy slump to wipe out $23-billion over two years

From an article by Jeff Lewis published 24 Feb 2015 by The Globe and Mail under the headline: Canada’s energy slump to wipe out $23-billion over two years Extracts The slump in Alberta’s energy sector is set to wipe out billions more in corporate earnings, complicating growth plans and putting investor dividends at greater risk. […]

Another nail in the coffin of tar sands

BBC NEWS: Obama vetoes Keystone oil pipeline bill: 24 Feb 2015 US President Barack Obama has vetoed a bill that would have approved construction of the Keystone XL oil pipeline. The Republican-led Congress sent the bill to the president on Tuesday. White House spokesman Josh Earnest said Obama vetoed the bill “without any drama or […]

Shell Canada withdraws oilsands mine application as a cost-cutting measure

By Dan Healing of the Calgary Herald Extracts The Pierre River oilsands mine proposed by Shell Canada in 2007, split out of a joint application in 2009 and delayed indefinitely last year has been withdrawn entirely from the regulatory approval process. “The Pierre River mine remains a very long-term opportunity for us but it’s not currently […]

Refinery operator Shell Canada charged for January 2013 incident at plant

By Paul Morden, Sarnia Observer: Friday, February 13, 2015 11:57:12 EST AM Refinery operator charged for January 2013 incident at plant Extracts Representatives of Shell Canada made a brief court appearance in Sarnia on Friday on environmental charges the company faces following an incident Jan. 11, 2013 at its plant near Corunna. Shell is scheduled to […]

Arctic Standards Won’t Be Ready For Shell’s Return

From an article by Liz Ruskin, Alaska Public Media: February 2, 2015 “Arctic Standards Won’t Be Ready For Shell’s Return” After Shell’s troubled 2012 drilling season in the far north, the Interior Department began working on Arctic-specific standards for offshore drilling. But those new standards aren’t done yet. Interior Secretary Sally Jewell says they won’t […]

Slump in Oil Prices Brings Pressure, and Investment Opportunity

An article by Michael Corkery and Peter Eavis published 2 Feb 2015 by The New York Times under the headline:  “Slump in Oil Prices Brings Pressure, and Investment Opportunity” American history is littered with oil busts that created big winners and losers. Now, as the cracks appear in the latest energy boom, the forces of […]

Tumbling oil prices

From a Bloomberg article by Joe Carroll and Tara Patel published 12 Jan 2015 by Business Report under the headline: “Analysis: Falling oil prices to trigger flood of write-downs” Extracts TUMBLING crude prices will trigger a flood of oilfield write-downs starting this month after industry returns slumped to a 16-year low, calling into question half a […]

Panic sets in: Shell Canada job cuts

From Business News Network: 9 Jan 2015 BNN Exclusive: Shell Canada lays off oil sands workers read moreLike this:Like Loading…

Shell in court again, this time Canada

From an article published by the observer.ca on 7 Jan 2015 under the headline: “Shell to appear Feb 13 in Sarnia court” Shell Canada has been charged by Ontario’s Ministry of Environment and Climate Change following a Jan. 11, 2013 incident at its plant near Corunna. Ministry spokesperson Kate Jordan said in an email that […]

High Noon on oil prices: OPEC vs U.S. Shale

From an article by Catherine Ngai published on 6 Jan 2015 by Reuters under the headline:  “High Noon on the Gulf Coast: Canada, Saudi oil set for showdown” NEW YORK (Reuters) – As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian […]

Jesse Colombo, the economic analyst who predicted the oil prices bust 

FULL CREDIT TO THE EXPERT WHO CORRECTLY PREDICTED THE OIL PRICE CRASH By John Donovan In June of this year Forbes.com published an extensive prescient article by Jesse Colombo, an economic analyst, under the headline: “9 Reasons Why Oil Prices May Be Headed For A Bust” His prediction made 6 months ago: “There are a growing number […]

EXXONMOBIL TAKE ON GLOBAL ENERGY OUTLOOK

By: MICHEAL KAUFMAN Published: Dec 10, 2014 at 10:02 am EST Exxon Mobil Corporation(NYSE:XOM) revealed its annual energy outlook yesterday and maintained its stance despite the fact that crude price has declined 40% since its peak in late-June. This has resulted in energy companies slashing down their capital spending plans and slowing down growth in […]

Opec is finished – the oil crash will continue

The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over the coming months as market forces shake out the weakest producers, Bank of America has warned. The major oil companies will have to cut back on projects with a break-even cost below $80 for Brent […]

Shell blocking Canadian transparency/anti-corruption initiative?

By John Donovan The Globe and Mail newspaper in Canada has published an article by Alan Detheridge, a former Royal Dutch Shell senior executive. A Vice President of Shell Canada when he left the company after 30 years. He must have known the company very well after all that time. If I have not misunderstood […]

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 […]

BP a better investment than Shell right now

Extracts from an article by David Thorpe published 22 July 2014 by What Investment under the headline: “M&G: BP is a better investment than Shell right now” Felton’s reason for not investing in Shell at present is that he believes the company has made a significant strategic blunder. ‘Shell has always been the high cost, […]

Shell suspends development of Canada’s Jumping Pound gas liquefaction unit

Extracts from a Reuters article published Friday 18 July 2014 LONDON, July 18 (Reuters) – Royal Dutch Shell said it has suspended development of a liquefaction unit at Canada’s Jumping Pound facility… “We believe LNG (liquefied natural gas) in transport is a considerable opportunity for Shell, but it is an emerging market and we must […]

Explosion At Sarnia Shell Plant

Ronald Daye, 55, was just 24 days away from retiring from Shell Canada near Corunna when he was burned Wednesday in an explosion at the refinery’s steam plant. By Paul Morden, Sarnia Observer, Friday, July 4, 2014  Ronald Daye, 55, was just 24 days away from retiring from Shell Canada near Corunna when he was burned […]

Shell hires drill ship for 2015 exploration off Nova Scotia

Extract from a Herald Business article by Joann Alberstat published 26 May 2014 Shell Canada has a deepwater drill ship lined up to use off the coast of Nova Scotia next year as part of its $1-billion exploratory program. The 228-metre vessel, owned by Stena Drilling of Aberdeen, Scotland, is now drilling for Shell in […]

Centrica JV Buys Canadian Assets From Shell for C$50M

Extract from a Wall Street Journal article by Ian Walker published 15 May 2014 LONDON–Natural gas firm Centrica PLC (CNA.LN) said Thursday that its joint venture with Qatar Petroleum International is buying a package of natural gas assets in the Foothills region of Alberta from Shell Canada Energy for 50 million Canadian Dollars ($45.85 million). […]

Shell-led proposal for Kitimat LNG plant incorporates its joint venture

Extract from an article by Derrick Penner, published by The Vancouver Sun on 30 April 2014 VANCOUVER — Partners in the Shell Canada-led proposal for a liquefied natural gas plant at Kitimat have formally incorporated their LNG Canada Joint Venture, the companies announced Wednesday, although they remain a long way from making a final investment […]

BP and Shell exposed as US prepares first warning shot against Russia’s oil and gas industry

Firms may be forced to curtail operations as G7 powers prepare to launch new sanctions    Extract from an article by Ambrose Evans-Pritchard published1:28PM BST 27 Apr 2014 by The Telegraph Britain’s top energy companies face an extremely delicate situation as the world’s G7 powers prepare to launch the next wave of sanctions against Russia, and […]

Upstream and Downstream – always oil and water

When I retired I was presented with a small silver Shell emblem which I still wear with pride from time to time. It once stood for excellence in marketing and was one of the world’s most familiar brand symbols. Now it’s a bit of a collectors item symbolising a world that has long gone… By […]

Shell’s bad missteps all but killed off US Arctic oil program

Extracts from an article by Nick Cunningham published Sunday 20 April 2014 by oilprice.com under the headline:”Russia’s Arctic Prize Won’t Be As Big As Many Think” While Royal Dutch Shell’s bad missteps have all but killed off the Arctic oil program in the United States, Russia is moving ahead, and Putin clearly believes that the […]

Construction hits midway point on Shell’s Quest carbon-capture project

Extract from an article by David Howell by the Edmonton Journal on 17 April 2014 FORT SASKATCHEWAN — Construction on Shell Canada’s Quest carbon capture and storage project is at the midway point and the facility should be ready to start operating in late 2015, company officials said Thursday. Quest will be the world’s first […]

Shell’s LNG fuel retreat

Extract from an article published by LNG Industry on 2 April 2014 under the headline: Lessons from Shell’s LNG fuel retreat On 26th March, just after Shell cancelled the 300 000 tpa Jumping Pound, Alberta, project, the company announced it would also abandon its two remaining 250 000 gall. /d LNG projects in Louisiana, and […]

Nothing but ill-fortune for Shell off the shores of Alaska

Extracts from an article by Reuben Brewer published on 21 March 2014 by The Motley Fool under the headline: BP Wins One and Loses One in the Gulf Royal Dutch Shell has found nothing but ill-fortune off the shores of Alaska. Shell’s most public problem was the 2013 grounding of the Kulluk drill ship. However, that […]