After 11 years and $39 billion of investment, Exxon Mobil Corp., Royal Dutch Shell Plc (RDSA) and their partners have yet to sell a drop of oil from what was touted as the worlds biggest discovery in four decades.
Posts Tagged ‘ConocoPhillips’
Overuse and waste of invaluable water resources within the oil and gas sector
EXTRACTS FROM THE RepRisk WATER SCARCITY REPORT RepRisk is the leading provider of dynamic business intelligence on environmental social and governance risks. In 2010, access to clean water received recognition as a basic human right through a majority vote of the United Nations General Assembly. According to the UN, nearly 900 million people have no [...]
Australia Delays Ruling on Shell-PetroChina Bid
NOVEMBER 2, 2011, 4:52 A.M. ET By DAVID WINNING And DAVID FICKLING SYDNEYAustralia’s foreign-investment watchdog has pushed back by up to 90 days a decision on the takeover of coal-seam-gas developer Bow Energy Ltd. by a joint venture of Royal Dutch Shell PLC and PetroChina Co. In a government notice to parliament, the Foreign Investment [...]
BP unveils North Sea investment programme
13 October 2011 BP has been given the go ahead to proceed with a new £4.5bn oil project west of the Shetland Islands. The BP-operated scheme is an extension of the existing Clair oil field, and will also include investment by fellow oil firms Shell, ConocoPhillips and Chevron. David Cameron said the news was a [...]
Shell moves closer to OK for offshore drilling
ALASKA JOURNAL of COMMERCE Oct 6, 2011 – 08:29 AM AKST By Tim Bradner, Alaska Journal of Commerce Step by step, Shell is moving closer to gaining final permission to drill exploration wells in offshore Arctic waters next summer. But, environmental groups arent giving up on court challenges. Earth Justice has filed with the U.S. [...]
Alaska to BP to Conoco Count On Shells Bounty From Arctic Oil
By Katarzyna Klimasinska – Oct 1, 2011 3:48 PM GMT+0100 The parking lot at the Millennium Alaskan Hotel in Anchorage was as jammed at 6:30 a.m. on a Thursday as the float-plane marina at neighboring Lake Spenard. About 170 oil executives, tribal entrepreneurs and state employees entered through a lobby adorned with stuffed polar bears [...]
Arrow Wins Bow Energy After Boosting Offer to A$535 Million
By James Paton Sept. 26 (Bloomberg) — Arrow Energy Ltd., owned by Royal Dutch Shell Plc and PetroChina Co., agreed to buy Bow Energy Ltd. after sweetening its offer to A$535 million ($516 million), gaining resources for a natural gas project in Australia. The coal-seam gas explorer and producer in Queensland state increased its cash [...]
Shell Won’t Shed Refineries, CEO Says
SEPTEMBER 21, 2011 By RYAN DEZEMBER Royal Dutch Shell PLC’s chief executive says he has no plans to follow in the footsteps of rivals and shed refineries. “We will remain an integrated oil company,” Peter Voser, head of the Anglo-Dutch oil giant, said Wednesday in an interview with The Wall Street Journal. Several so-called integrated [...]
Rosneft Deal Shows Exxon To Be The Only Supermajor With Heft In Russia
In Sakhalin… Exxon has fared much better than rival Royal Dutch Shell, which has led the development of Sakhalin-2. In 2005 Shell disclosed $10 billion in cost overruns on the $20 billion project, and in 2007 it was forced by the Kremlin to sell half of its Sakhalin stake to Gazprom. Though Shell and Rosneft [...]
Oil spill investigation begins as Shell plugs North Sea leak
Successful plugging of two Gannet Alpha leaks come as a Scottish newspaper reveals Shell’s poor safety record in the region An investigation by the Sunday Herald found that Shell had been officially censured 25 times in the past six years for breaking safety rules, giving it one of the worst safety records of any major [...]
The end of Big Oil? Not so fast.
BP’s Wytch Farm oil well in Poole, England August 5, 2011: 5:00 AM ET Splitting up energy giants may make sense while oil prices are as high as they are today, but it may not be worth the organizational headache for Big Oil to break apart. By Shelley DuBois, writer-reporter FORTUNE — Big Oil may [...]
Shell Gambles U.S. Rules on Arctic Drilling
Shell, Europes largest oil company, says it must decide by October whether to assume that U.S. regulators will issue all 35 permits it would need to explore under the Beaufort and Chukchi seas next year during the four mildest months, from July to October.
Slumping Output Raises Tough Questions For European Oil Giants
By Alexis Flynn, Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- When Europe’s major oil companies reported quarterly earnings last week, headlines across national capitals once again excoriated the petroleum giants for soaring profits in the face of consumers anger at high fuel prices. Yet the profits couldn’t mask a trend that continues to trouble Wall [...]
The end of Big Oil?
How the break-up of ConocoPhillips could lead to similar moves by oil conglomerates like BP and Exxon Mobil, forever changing the energy landscape. By Cyrus Sanati, contributor FORTUNE– The announcement last month that ConocoPhillips plans to break up into two separately traded companies took Wall Street by surprise, raising uncomfortable questions as to Big Oil’s [...]
Profits soar at Shell
Oil group unveils earnings of nearly £5bn for the last quarter Terry Macalister Thursday 28 July 2011 19.12 BST Profits at Shell soared 77% to nearly £5bn in the last three months, but the oil group said there was little chance of lower prices for motorists, with energy prices due to rise even further in [...]


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