Posts Tagged ‘Dow Jones Newswires’

By James Herron

Published October 18, 2011| Dow Jones Newswires

By Alexis Flynn

Published September 15, 2011 Dow Jones Newswires

LONDON -(Dow Jones)- Royal Dutch Shell PLC (RDSA.LN) may be prosecuted for the U.K.’s worst oil spill in a decade after Energy and Climate Change Secretary Chris Huhne confirmed an investigation into a 10-day leak from the oil major’s Gannet Alpha platform last month will be sent to Scotland’s public prosecutor.

“My department and the Health and Safety Executive have commenced investigations into the cause of the incident,” said Huhne, adding it would likely “take some months.”

“A full report will be sent to the procurator fiscal to consider whether a prosecution is appropriate,” Huhne said.

Previously, the DECC had said the findings of the investigation would only be sent to the procurator fiscal “if appropriate.”

About 218 metric tons of oil–equivalent to 1,300 barrels–spilled into the North Sea from a leaking undersea pipeline at the North Sea platform between Aug. 10 and 19.

Huhne said the DECC was initially informed on Aug. 10 of a surface oil sheen and told a leak had occurred. However, he was then told by Shell that the leak had been stemmed the following day.

On Friday Aug. 12, aerial surveillance in the late afternoon showed the leak was continuing “with significant potential for pollution,” said Huhne. Shell only confirmed the leak to journalists later that day, leading to criticism from some environmental groups and Scottish politicians about its slow disclosure of the incident.

Shell wasn’t immediately available to comment when contacted by Dow Jones Newswires.

Copyright © 2011 Dow Jones Newswires

“A prohibition notice was served on Shell July 1 over hydrocarbon release issues on the Brent C platform. The rig is currently ‘shut in’…

SEPTEMBER 14, 2011

LONDON (Dow Jones)–The U.K. offshore regulator issued Royal Dutch Shell PLC (RDSA.LN) with two warnings in July for safety incidents at its aged Brent Charlie platform in the North Sea, the Health and Safety Executive website showed Wednesday.

One of the warnings is a more serious prohibition notice, which indicates there is an elevated risk of injury, while the other is an improvement notice, which gives an operator a period of time to correct a potential risk.

“A prohibition notice was served on Shell July 1 over hydrocarbon release issues on the Brent C platform. The rig is currently ‘shut in’, which means it has complied with the prohibition notice ordering activity to stop,” an HSE spokesperson told Dow Jones Newswires.

The 35-year old platform is located 145 kilometers north east of Unst. Production on the Brent field has continued to decline in recent years and many of the aging installations are due to be decomissioned in a few years. From 2000 to 2010, production on the whole Brent oil field dropped 91%.

The Brent field has four large platforms, Alpha, Bravo, Charlie and Delta.

A Shell spokesman wasn’t immediately able to detail the incident that resulted in the prohibition notice.

-By Alexis Flynn and James Herron, Dow Jones Newswires, +44 207 842 9471, alexis.flynn@dowjones.com

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The organization tasked with policing safety on U.K. North Sea oil and gas installations said Wednesday it is prepared to change the way it publishes information on leaks and other incidents, amid criticism of a lack of transparency around Royal Dutch Shell PLC’s recent spill at the Gannet Alpha platform.

By Alexis Flynn Published September 07, 2011 Dow Jones Newswires

ABERDEEN, Scotland -(Dow Jones)- The organization tasked with policing safety on U.K. North Sea oil and gas installations said Wednesday it is prepared to change the way it publishes information on leaks and other incidents, amid criticism of a lack of transparency around Royal Dutch Shell PLC’s (RDSA) recent spill at the Gannet Alpha platform.

“There has been pressure on us to be more transparent, there is more expected on this,” said Steve Walker, head of the Health and Safety Executive’s offshore division. “We could do it in a more attributable way.”

Walker said the HSE could by next year release more detailed information identifying companies responsible for safety and environmental breaches.

“There is now a drive for us to actually release that data [and say] ‘here is a hydrocarbon release by so and so on such a such a such date,’” said Walker.

Under the current system, interested parties have request data under the Freedom of Information Act, which allows citizens to obtain sensitive documents held by public service organizations.

However, criticism has mounted in recent weeks following an undersea pipeline leak at a Shell platform and the subsequent release of crude oil into the North Sea, the U.K.’s biggest spill in a decade. HSE data obtained under the Act showed the company to be among the worst offenders when it came to recent hydrocarbon releases.

Walker said any move to “name and shame” negligent operators would have to be done in accord with the industry.

“We are in discussions with Oil and Gas UK, because it is a sensitive issue, and if we are going to chance it we need to get the views of the industry, and I think they are pretty supportive of that,” said Walker.

Copyright © 2011 Dow Jones Newswires

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By London Bureau Published July 08, 2011 Dow Jones Newswires

LONDON -(Dow Jones)- Anglo-Dutch oil giant Royal Dutch Shell PLC will take lessons it learned from past negative experiences in Russia to aid it in future, Chief Executive Peter Voser said in an interview with Swiss newspaper Finanz und Wirtschaft to be published Saturday.

When Shell was asked about its negative experiences in Russia, Voser said, “You learn from the past and do it differently in the future.”

Copyright © 2011 Dow Jones Newswires

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June 30, 2011

HOUSTON -(Dow Jones)- There was no emergency in oil markets to warrant the globally coordinated oil release announced last week, a top executive from oil giant Royal Dutch Shell PLC (RDSA) said Thursday.

“That oil is there for emergency purposes. Do I consider now an emergency? I have to say I don’t,” said Marvin Odum, president of Shell Oil Co., the U.S. unit of the Anglo-Dutch giant. “It doesn’t change the middle- to longer-term picture. The conversation we need to be having is about the long-term supply issue.”

The executive said the best way to combat high oil prices was letting oil companies to increase crude production by tapping U.S. hydrocarbons resources.

The International Energy Agency said last week it would offer 60 million barrels of oil in an effort to offset oil supply disruptions in the Middle East. Half of these 60 million barrels will come from the U.S., which was accepting bids this week.

Separately, Odum said the company will make a decision in the next three or four months on whether it will be able to drill in Alaska’s Arctic waters next year. He said the company is hopeful it will be able to obtain the pending permits the company need in order to start drilling because there was a ” coordinated” effort from the Obama administration to help the company get through the process.

Shell still has to obtain a number of permits from the federal government in order to go ahead with its $3.5 billion investment to drill in the state’s Beaufort and Chukchi seas. Shell’s plans have been delayed by environmental lawsuits and permit issues on top of calls for better spill prevention and containment capabilities following BP PLC’s (BP, BP.LN) oil spill disaster in the Gulf of Mexico last year.

-By Isabel Ordonez, Dow Jones Newswires; 713-547-9207; isabel.ordonez@ dowjones.com

(END) Dow Jones Newswires 06-30-111753ET Copyright (c) 2011 Dow Jones & Company, Inc.

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In early November, Anglo-Dutch Royal Dutch Shell PLC, the world’s second largest oil company, was the first to disclose it was hurt by an OPEC cut, when it called force majeure on some of its Nigerian crude exports

On the non-guaranteed side of the market, Shell International Finance, the financing arm of energy giant Royal Dutch Shell PLC (RDSA), sold the largest deal of the day. Its 30-year issue was sold at a risk premium of 325 basis points over Treasurys, according to an investor. Shell is raising funds for general corporate purposes.