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Posts Tagged ‘Chukchi Sea’

The world’s most hated company: can NGOs help turn Shell’s reputation around?

While Shell’s plummeting profits are partially due to the falling price of oil, the years of negative publicity surrounding the company have likely also had an effect… Alison Moodie: Saturday 6 February 2016 14.00 GMT In mid-2015, Shell realized its project in the Chukchi Sea, off the coast of Alaska, was in trouble. After nearly a decade […]

Shell the company most criticised by campaigners

Sunday 17 JAN 2016 German carmaker Volkswagen was one of the “most disliked” companies for pressure groups last year following its emissions scandal, a survey has found. Shell was the most criticised by campaigners, followed by Monsanto, which makes genetically modified food. Half of the top-10 most criticised companies on Sigwatch’s list were energy firms, […]

Shell lease requests offshore Alaska face scrutiny

Shell is challenging a decision by the federal government to deny its request to suspend leases in the Arctic waters off the coast of Alaska that would expire in 2017 and 2020. Federal leases expire at the end of their terms unless operators are engaged in drilling or related activity. ANCHORAGE, Alaska, Jan. 14 (UPI) […]

Royal Dutch Shell Terminates Rig Contract with Transocean

  By Mushhood Khan on Dec 28, 2015 at 9:07 am EST Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has terminated its rig contract with Transocean for the harsh environment semi-submersible rig, Polar Pioneer. The contract was initially scheduled to expire in 2017, but was rescinded today i.e. December 28. Transocean said in a press release […]

Shell working to protect assets offshore Alaska

Dutch supermajor notes the challenge does not equate to a resumption of drilling activity. By Daniel J. Graeber: Dec. 17, 2015 WASHINGTON, Dec. 17 (UPI) — While Royal Dutch Shell said it aims to protect its drilling rights in the Arctic waters offshore Alaska, it said drilling was off the table for the foreseeable future. […]

Shell Bid Aims to Preserve U.S. Drilling Rights in Arctic Ocean

Jennifer A Dlouhy: December 15, 2015: Bloomberg.com Oil company files appeal challenging rejection by Interior Clock now ticking on oil and gas leases expiring in 2020 Royal Dutch Shell Plc is fighting to preserve U.S. drilling rights in Arctic waters three months after halting exploration indefinitely there because it failed to find meaningful oil or […]

Royal Dutch Shell’s Management Wants You to Know These 5 Key Things

Royal Dutch Shell’s Management Wants You to Know These 5 Key Things Last quarter was a pretty rough one for Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B). The company was forced to take more than $7.9 billion in charges to the income statement to write down some abandoned development projects, and its oil and gas production in the […]

Economics, not just regulation, sidelined Shell’s offshore Alaska drilling plans

Dermot Cole: December 8, 2015 Fresh assertions that the Obama administration smothered Shell’s Arctic dreams followed the news that Statoil gave up on its leases, the second company to abandon plans to look for oil in the Chukchi Sea. Citing market conditions and noting the leases “are no longer considered competitive within Statoil’s global portfolio,” the Norwegian company announced its withdrawal plans Nov. […]

Report: Political pressure prompted hasty environmental review of Shell’s Arctic play

Yereth Rosen: Ben Anderson: December 7, 2015 Regulators hoping to avoid criticism and potential congressional backlash rushed an environmental review of offshore Arctic oil development to ensure that Royal Dutch Shell would be able to drill this year, said a report issued Monday by a federal watchdog agency. The investigation, conducted by the U.S. Department of Interior’s Office of the Inspector […]

Shell Forced to Scale Back Ambitions

By James Stafford: Thu, 26 November 2015 As with most oil companies, 2015 has been a rough year for Royal Dutch Shell. The Anglo-Dutch company reported a third quarter loss of $6 billion, which included $7.9 billion in impairment charges. During its third quarter earnings call, Shell’s CEO Ben van Beurden summed up the company’s strategy, […]

Shell’s top Arctic exec is retiring, will join KBR board

Posted on November 10, 2015 | By Joshua Cain After Royal Dutch Shell scuttled its $7 billion Arctic drilling program in September, the company’s top executive on the project is moving on. Ann Pickard, Shell’s executive vice president in the Arctic, will retire from the company in February 2016, Shell spokeswoman Kelly op de Weegh […]

Shell describes Arctic drilling project as a good prospect that just didn’t work out

Associated Press: Nov. 3, 2015 LONDON (AP) — Royal Dutch Shell CEO Ben van Beurden says the company will reflect on its decision to consider drilling off the coast of Alaska but voiced his regret that the prospect couldn’t be made to work out. Van Beurden told reporters Tuesday as Shell updated its strategy that it […]

Shell leaves door open for future exploration in Alaska’s Arctic

Jennifer A. Dlouhy | Houston Chronicle: November 2, 2015 WASHINGTON — Shell is walking away from oil exploration in Arctic waters north of Alaska, but it isn’t ready to close the door completely. Disappointing results from a critical test well at the company’s Burger prospect in the Chukchi Sea, combined with the high costs of developing the […]

US Follows Royal Dutch Shell plc Backs Away From Arctic Drilling

By: Micheal Kaufman: Oct 19, 2015 The US Interior Department announced on Friday that it will cancel the auction of 2016 and 2017 natural gas and offshore oil leases in the Arctic Ocean. The auction was scheduled under the Department’s current five-year Chukchi Sea leasing program for 2012–2017. The division cited low crude oil prices and […]

Interior: No more new Arctic oil leases for remainder of Obama’s presidency

Interior: No more new Arctic oil leases for remainder of Obama’s presidency Gregory Korte, USA TODAY: Oct 16, 2015 WASHINGTON — The Obama administration is canceling its plans to sell oil drilling rights in the Arctic Sea through 2017, a remarkable turnaround since expanding drilling by approving new drilling permits for Shell Oil earlier this year. […]

U.S. Cancels Remaining Arctic Oil Lease Sales Under Obama

Brian Wingfield and Joe Carroll: BLOOMBERG.COM: 17 October 2015 The U.S. Interior Department effectively halted drilling off Alaska’s coast for the remainder of President Barack Obama’s term by canceling two sales of Arctic oil and gas leases. The decision comes less than a month after Royal Dutch Shell Plc said it would indefinitely cease exploration […]

US curbs Arctic offshore oil and gas drilling

The US government has announced new curbs on oil and gas exploration in Arctic waters off Alaska’s northern coast. It comes after oil giant Royal Dutch Shell last month stopped its Arctic activity citing “disappointing” tests. The US interior department said it was cancelling two potential Arctic offshore lease sales and would not extend current […]

U.S. Blocks Alaskan Arctic Drilling for 2 Years

By CLIFFORD KRAUSS: OCT. 16, 2015 HOUSTON — The Obama administration shut the door Friday on drilling in Alaska’s Arctic Ocean over the next two years, canceling auctions for drilling rights in the Chukchi and Beaufort seas. The decision by the Interior Department was not surprising because it came less than a month after Shell Oil […]

U.S. cancels Arctic offshore lease sale after Shell drops interest

WASHINGTON: Fri Oct 16, 2015 The U.S. Interior Department on Friday said it would cancel two potential Arctic offshore lease sales after Royal Dutch Shell PLC (RDSa.L) said that it was not interested in those leases. “In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not […]

The risks of wildcatting in the Arctic

A former Shell Oil executive and catastrophic risk expert on the nightmare scenario when oil and ice mix. by Lauren Ellis @lauren_jellis: October 15, 2015 Two drill vessels officially left Arctic waters after Royal Dutch Shell announced that the company would cease exploration in the Chuckchi and Beaufort seas. After a $7 billion investment and […]

Shell’s drilling vessels leave Arctic waters after company ends oil exploration off Alaska

DAN JOLING: Associated Press: Oct. 13, 2015 ANCHORAGE, Alaska (AP) — Two drill vessels employed by Royal Dutch Shell PLC off Alaska’s northwest coast have safely departed Arctic waters for the Pacific Northwest. The 572-foot Noble Discoverer, owned by Noble Drilling U.S. LLC, reached Dutch Harbor in the Aleutian Islands on Sunday afternoon. After a Coast Guard […]

Shell Is Reeling After Pulling Out of the Arctic

BY ANTONIA JUHASZ / OCTOBER 13, 2015 Earlier this month, Shell’s tumultuous Arctic drilling campaign came to an abrupt and costly end. In a written statement, the company announced the cessation of its offshore Alaska activities “for the foreseeable future”—at a loss of billions of dollars. This both stunned and thrilled critics, many of whom […]

Shell’s Arctic drill rigs make final Alaska stop

Laurel Andrews: October 12, 2015 Two weeks after announcing the end of its Arctic offshore oil exploration program, Royal Dutch Shell’s Noble Discoverer drillship left Dutch Harbor Monday afternoon, the last planned stop in Alaska as it heads to the Pacific Northwest. The company’s second drilling rig that had arrived in Alaska this summer, the Transocean Polar Pioneer, […]

Alaska mulls extra oil drilling to cope with climate change

By Matt McGrath: Environment correspondent, BBC News, Alaska: 12 Oct 2015 Expanding the search for oil is necessary to pay for the damage caused by climate change, the Governor of Alaska has told the BBC. The state is suffering significant climate impacts from rising seas forcing the relocation of remote villages. Governor Bill Walker says that […]

Environmentalists ramp up resistance to big oil

Environmental groups have become emboldened by their perceived triumph over Shell in the Arctic, in which they refined new tactics. What impact might this decision have on the future green movement in the United States? Environmental organizations celebrated when Royal Dutch Shell announced it was halting oil and gas explorations in Alaska’s Chukchi Sea “for […]

Shell’s withdrawal from Arctic energizes activists

Activists plan broader green campaign By Jennifer A. Dlouhy, Hearst Washington Bureau: Oct  8, 2015 WASHINGTON — Environmentalists who battled Arctic oil drilling by paddling kayaks, dangling from bridges and climbing onto rigs at sea have claimed a high-profile success against Shell and aim to funnel the resulting enthusiasm into other fights against fossil fuels. […]

Aggressive bidding after reserves scandal put Shell on path to Arctic disappointment

$7 billion bust in the Arctic Ocean By Jennifer A. Dlouhy: 5 Oct 2015 WASHINGTON — Shell’s dreams of an Arctic oil bonanza were dashed with disappointing results from a critical exploratory well this summer, but they were in full force seven years ago, when the company aggressively outbid competitors to nab drilling rights in […]

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 may post loss after taking £2.7bn Arctic exploration hit

Shell chief executive Ben van Beurden told The Mail on Sunday just two weeks ago that he was committed to the Arctic By Jon Rees For The Mail On Sunday: 4 Oct 2015 Shell is set to reveal that quitting the Arctic cost it up to $4.1billion (£2.7billion) in its third-quarter results when it unveils […]

What Shell’s latest move says about Arctic drilling myths

By  Scott L. Montgomery OCTOBER 1, 2015 The company’s departure is certainly a pause in a new era of Arctic exploration, but it’s not the end. After seven years of preparation and several billion dollars spent, Shell has decided to abandon its exploration program in the U.S. Arctic “for the foreseeable future.” This follows barely […]

A rig too far

Ben van Beurden, installed as Shell’s chief executive in 2014, could have halted the ill-fated project. But after a “personal journey”, he decided to go ahead. Shell’s retreat from the frozen north shows the new realities of “big oil”: Reputation was another factor in Shell’s retreat Oct 3rd 2015 | HOUSTON | From the print […]

Emma Thompson joins Greenpeace to celebrate Shell scrapping Arctic drilling

Emma Thompson joins Greenpeace to celebrate Shell scrapping Arctic drilling By Charlotte Krol, and PA, video source YouTube / Greenpeace: 29 Sep 2015 Actress Emma Thompson has joined activists outside the headquarters of Shell to celebrate news that the oil giant is pulling out of drilling in the Arctic. Greenpeace has been protesting against the company’s […]

Royal Dutch Shell’s Arctic Bucket Of Ice Has Melted, Yield Is Now North Of 8%

Sep. 29, 2015 Summary * The Burger J well test results were a dud, no major reserves found. * Shell puts Arctic drilling on hold indefinitely, which further reduces future capex. * Dividend yield tops the 8% mark. Royal Dutch Shell (RDS.A / RDS.B) was always upbeat about the prospects of drilling in the Arctic, […]

Shell’s Arctic defeat ends dream of new frontier

Christopher Adams, Ed Crooks and Jack Farchy After nine difficult years and $7bn of spending, Royal Dutch Shell has admitted it has nothing to show for its contentious campaign to discover oil in the Arctic. As it pulled the plug on further drilling — announcing billions of dollars in likely losses — the prospects for […]

Why Shell Quit Drilling in the Arctic

By Paul Barrett: BLOOMBERG.COM: 28 SEPT 2015: 6:12 PM BST Royal Dutch Shell’s abrupt announcement today that it would cease all offshore drilling in the Arctic is surprising for several reasons. One is the unusual degree of confidence the company expressed as recently as mid-August that it had identified 15 billion barrels of oil beneath the well […]

Shell Exits Arctic as Oil Slump Forces Industry to Retrench

By CLIFFORD KRAUSS and STANLEY REED As oil prices have continued their steady decline this year, rig after rig has been shut down, costing thousands of jobs in the United States. Yet major oil producers have been loath to pull the plug on their most ambitious projects — the multibillion-dollar investments that form the backbone of […]

Shell Abruptly Abandons Arctic Drilling, Finding It Too Costly

BY ZOË SCHLANGER 9/28/15 After a season spent drilling an exploratory oil well in one of the harshest environments on Earth, Royal Dutch Shell announced Monday morning it was abandoning its attempt to develop the Alaskan Arctic “for the foreseeable future.” The exploratory well 150 miles offshore in the Chukchi Sea did not turn up […]

These 2 charts explain why Shell stopped drilling in Alaska

It’s all about oil prices. Royal Dutch Shell said Monday it will stop drilling for oil off Alaska’s coast. The move comes after Shell failed to discover a noteworthy amount of undersea oil in a well off northern Alaska despite spending $7 billion on exploration efforts. The decision will undoubtedly please the many environmentalists who […]

Shell move dims oil prospects, delights environmentalists

ANCHORAGE, Alaska (AP) — Royal Dutch Shell has abandoned its long quest to become the first company to produce oil in Alaska’s Arctic waters, darkening the nation’s long-term oil prospects and delighting environmental groups that tried to block the project. After years of effort, Shell is leaving the region “for the foreseeable future” because it […]

Shell pulls plug on Arctic drilling campaign

By ETAIN LAVELLE FOR THE DAILY MAIL: PUBLISHED: 22:22, 28 September 2015 To the delight of eco-warriors worldwide, Shell pulled the plug on its Arctic drilling campaign, taking a £2.7billion hit on the controversial venture that was persistently undermined by the prolonged oil price weakness and fierce opposition from ecological activists. Although an exploratory well showed […]

Shell has made a costly call to abandon Alaska

Kamal Ahmed: Business editor: 28 Sept 2015 It could have been Hillary Clinton’s tweet that did it. Just after the US government had given the go-ahead for Shell to restart its exploration in Alaska, the Democratic presidential candidate took to the social media site. “The Arctic is a unique treasure,” Mrs Clinton said on Twitter. “Given […]

Shell pulls the plug on Arctic exploration

Mon Sep 28, 2015 6:21am EDT By Karolin Schaps (Reuters) – Royal Dutch Shell has abandoned its Arctic search for oil after failing to find enough crude, a move that will appease environmental campaigners and shareholders who said its project was too expensive and risky. The withdrawal came six weeks after the final U.S. clearance […]

Tapped out? Shell ending Arctic offshore oil exploration after test well disappoints

FoxNews.com: Sept 28, 2015 Royal Dutch Shell said early Monday that it was ceasing offshore oil and gas exploration in Arctic waters after a test well yielded unsatisfactory amounts of oil and gas. The announcement was a huge blow to Shell, which was counting on offshore drilling in Alaska to help it drive future revenue […]

Shell’s Arctic oil well comes up dry

September 28, 2015 | By Jennifer A. Dlouhy WASHINGTON — After spending $7 billion and seven years searching for oil under Arctic waters, Royal Dutch Shell on Monday said its quest had come up dry. Shell announced that its exploratory oil well in the Chukchi Sea north of Alaska encountered “indications of oil and gas” […]

Shell abandons contentious Arctic exploration after poor results

Christopher Adams, Energy Editor: Sept 28: 7.28am Royal Dutch Shell has abandoned a contentious Arctic drilling campaign off the coast of Alaska and is preparing to take billions of dollars in writedowns after its exploration efforts failed to make a significant discovery. However, the company said in a statement on Monday that while it had […]

Giant ‘dying polar bear’ appears outside Shell UK headquarters in protest over Arctic drilling

BY KARA O’NEILL: 21 Sept 2015 A giant dying polar bear has been placed outside the headquarters of oil and gas company Shell in a bid to stop their Arctic drilling programme. British actress Emma Thompson was among the protesters who manoeuvred the three-tone puppet into place, locking six people inside so the bear cannot […]

Why we MUST drill for oil in the Arctic: Shell boss’s message to climate change campaigners and governments

By JON REES, FINANCIAL MAIL ON SUNDAY: 20 Sept 2015 Some green campaigners seem to believe Shell boss Ben van Beurden would be happy dunking polar bears in thick, black crude oil if it helped make the planet even hotter. But van Beurden, the 57-year-old engineer who has run Royal Dutch Shell for nearly two […]

IF SHELL FINDS OIL IN CHUKCHI SEA, WHAT NEXT?

18 September 2015 The short drilling season for oil exploration in U.S. Arctic offshore waters will reach one stopping point Sept. 28 and a complete halt Oct. 31 for Royal Dutch Shell Plc. The company has been drilling since July 30 at the Burger prospect in the Chukchi Sea north of Alaska. If oil is […]

Actors join campaign to draw attention to Arctic issue

By DAN JOLING: 18 Sept 2015 ANCHORAGE, Alaska (AP) — Critics of Arctic offshore petroleum drilling have used climbing gear, kayaks and polar bear costumes to protest industrial activity in the Arctic. They’re now trying humor. Actors Alexander Skarsgard of “True Blood” and Jack McBrayer of “30 Rock,” along with Andy Bichlbaum of “The Yes […]

Optimism & Outrage: Shell’s $7 Billion Arctic Oil Gamble

by CYNTHIA MCFADDEN and JAKE WHITMAN: SEP 17 2015 At Royal Dutch Shell’s operations center in Anchorage, the cries of outrage that greeted the start of offshore drilling in the Arctic are drowned out by optimism. The energy giant’s president, Marvin Odum, told NBC News that he’s confident that the $7 billion already spent to find […]

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