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Posts Tagged ‘Canada’

Myths about Shell’s Arctic Alaska pullout persist

Yereth Rosen: Alaska Dispatch News: October 3, 2015 When Royal Dutch Shell announced that it had lost its big-money bet in the Chukchi Sea and would end its entire program in the offshore U.S. Arctic, the hyperbole and finger-pointing began in earnest. Rep. Don Young accused President Obama and Interior Secretary Sally Jewell of deliberately sabotaging Alaska’s economy. “I’m […]

Shell awaiting green light to begin Nova Scotia offshore drilling

Shell says 90 per cent of the supply vessel staff will come from Nova Scotia 25 Sept 2015 Four ships are standing by in Halifax Harbour, waiting for Shell Canada Ltd. to get the green light to hunt for oil in the deep waters of Nova Scotia. The company expects to begin drilling two exploration wells […]

Melting Ice Isn’t Opening Arctic to Oil Bonanza

By STEVEN LEE MYERS and CLIFFORD KRAUSS: SEPT. 7, 2015 TERIBERKA, Russia — The warming Arctic should already have transformed this impoverished fishing village on the coast of the Barents Sea. The Kremlin spent billions in the last decade in hopes of turning it into a northern hub of its global energy powerhouse, Gazprom. It was […]

Court Says Chevron Can Be Pursued in Canada Over Ecuadorean Damage

By IAN AUSTEN and CLIFFORD KRAUSS: A version of this article appears in print on September 5, 2015, on page B2 of the New York edition The Supreme Court of Canada ruled on Friday that a group of Ecuadoreans can use an Ontario court in an attempt to collect billions of dollars from Chevron for environmental […]

Shell offshore drilling application prompts conflict-of-interest charge

By Charles Mandel | August 29th 2015 Shell Canada Limited is applying to bring offshore drilling to Nova Scotia’s waters. But environmentalists are raising alarm bells over potential conflict of interest, as the group reviewing Shell’s application — the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) — includes a board member who worked at Shell Canada and […]

Offshore petroleum board refutes conflict charge

JESSICA FLOWER: August 28, 2015  Despite a U.K. newspaper’s suggestion of a conflict of interest in the Shell offshore drilling proposal approval process, the Canada-Nova Scotia Offshore Petroleum Board says it’s confident the steps it takes to eliminate any conflicts or unethical dealings neutralizes any concerns. The Guardian reported Wednesday about a potential conflict of interest […]

Why Royal Dutch Shell plc Is Facing Resistance In Canada

By: MICHEAL KAUFMAN: Aug 28, 2015  Royal Dutch Shell plc’s (ADR) (NYSE:RDS.A) drilling in Canada will be coming in for resistance, as reported by the Guardian. The drilling plan in Nova Scotia’s southern shore has been approved by the country’s Environment Minister and is under the Canada-Nova Scotia Offshore Petroleum Board’s review. The Canadian Environment Ministry […]

Hillary Clinton Says Arctic Drilling ‘Not Worth the Risk’

“The Arctic is a unique treasure,” Democratic presidential candidate Hillary Clinton tweeted. “Given what we know, it’s not worth the risk of drilling.” MARIO ANZUONI/REUTERS (Reuters) – Democratic presidential candidate Hillary Clinton on Tuesday staked out her opposition to Arctic oil exploration, a day after the Obama administration gave Royal Dutch Shell final approval to […]

The New Cold War: The Arctic

It could set major oil companies against each other but also superpower against superpower as they scramble to exploit the last untapped giant reserves in a part of the world where territorial boundaries remain unclear. No wonder some fear a new cold war. FULL ARTICLE WELL WORTH READING

Ottawa rules one-day response to possible offshore spill too expensive

HALIFAX – The federal government says it is agreeing to an offshore drilling plan that allows up to 21 days to bring in capping technology for a subsea well blowout because requiring a shorter response time would be too expensive for Shell Canada Ltd. Nova Scotia environmentalists are questioning why the federal environmental protection agency […]

Shell given OK to take 21 days to cap a deep well oil blowout off N.S. coast

By Zachary Markan, CBC News Posted: Aug 05, 2015 Federal Environment Minister Leona Aglukkaq has signed off on Shell Canada’s plan for dealing with a potential deep-well blowout on the Shelburne Basin. Under its Well Containment Plan, Shell says it can have a primary capping stack in place within 12 to 21 days after a blowout. […]

Shell toughens local project hurdles

Matt Chambers: Resources Reporter: Melbourne: 31 July 2015 Oil major Shell has laid down tougher hurdles for its Australian projects including Browse LNG off Western Australia and Arrow coal-seam gas in Queensland. It has cut the oil price at which new projects need to go ahead and flagged a major LNG project ­pipeline overhaul if its planned […]

Here’s How Shell Can Restart Its Tar Sands Projects In Canada

By: MICHEAL KAUFMAN Exploring for new oil has now become a difficult task for the oil majors. Oil and gas are now mostly situated in the deep-waters, Canadian tar sands and the Arctic waters where the cost of exploration and production is very high. These high costs coupled with the lower crude oil prices make […]

Shell-led Canadian LNG deal gets environmental approvals

Shell-led Canadian LNG deal gets environmental approvals Thursday Jun 18, 2015 By Julie Gordon (Reuters) – Canada’s environment ministry said on Wednesday it approved a Royal Dutch Shell Plc-led liquefied natural gas export terminal on British Columbia’s coast, contingent on the project meeting 50 environmental, social and operational conditions. In her decision, federal Environment Minister […]

Shell Cleared For Exploration Off Nova Scotia

By Andy Tully: Posted on Wed, 17 June 2015 Shell Canada Ltd. is ready to begin exploratory drilling off the coast of Nova Scotia now that it has received conditional approval for the project from the country’s environmental minister. Canada’s Environmental Assessment Agency issued the decision the night of June 15 after the environmental minister, Leona […]

Shell Arctic Drill Rig Confronted at Sea by Indigenous Activists and Greenpeace Canada

Press release from Greenpeace June 17, 2015 – 4:51pm – By The Arctic Journal Indigenous artist and activist Audrey Siegl today approached the 300-foot-tall Polar Pioneer drill rig in an inflatable boat launched from the MY Esperanza, while two Greenpeace Canada swimmers spread out in the water behind her to put their bodies in the […]

Shell-led B.C. LNG project nears environmental approval

BRENT JANG: KITIMAT, B.C. — The Globe and Mail: Published Tuesday, Jun. 16, 2015: Last updated Wednesday, Jun. 17, 2015 Shell and BG Group PLC announced plans in April to merge, sparking speculation that the combined entity will focus on Kitimat while placing BG’s Prince Rupert LNG project on the back burner. A liquefied natural gas consortium led by Royal […]

Shell gets go-ahead for Shelburne Basin drilling project

Shell gets go-ahead for Shelburne Basin drilling project SHERRI BORDEN COLLEY STAFF REPORTER: June 15, 2015  Shell Canada has received the green light to begin exploratory drilling off the coast of Nova Scotia later this year. The project cleared its final regulatory hurdle late Monday when federal Environment Minister Leona Aglukkaq gave the company conditional approval. […]

U.S. Ousts Russia as Top World Oil, Gas Producer

Article by Rakteem Katakey published 10 June 2015 by The U.S. has taken Russia’s crown as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields. U.S. oil production rose to a record last year, gaining 1.6 million barrels a day, according […]

Arctic drilling affects more than the Arctic, say Greenpeace campaign particpants

Eilís Quinn, Eye on the Arctic: May 28, 2015 Representatives from six of Canada’s First Nations are currently taking part in a Greenpeace campaign with a message that Arctic drilling has the potential to negatively  impact communities far beyond the North. “We know that the ongoing use of oil as a source of fuel is perpetuating […]

Shell drilling may spur Arctic resource race

Colin Chilcoat, May 27, 2015 In a few short months Shell will (re)enter the Chukchi Sea, between Alaska and Russia. The oil and gas major still awaits approval from a number of state and federal agencies, but in early May the company received the consent of the Obama administration to explore the remote Arctic sea […]

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 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 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 more

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 […]