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Posts Tagged ‘Oil Sands’

Further Shell News Update 27 June 2017

Canada M&A Hits Decade-High as Foreign Owners Flee Oil Sands: Bloomberg: 27 June 2017

Mergers and acquisitions in Canada are set for the strongest start in a decade as foreigners sell their oil sands investments. ConocoPhillips and Royal Dutch Shell Plc are leading the exodus amid a bear market for crude.

Big Oil: Surviving at $40, Thriving at $60: Barron’s: 26 June 2017

The price of oil is rising today, but that hasn’t helped oil stocks like ExxonMobil (XOM), Chevron (CVX), Total (TOT), and Royal Dutch Shell (RDS.A), which remain little changed or under pressure. We expect companies to continue pulling on all operational and financial levers in order to adjust to the oil price reality… read more

Outspoken articles about Shell Jan 2017 onwards

Shell News Update 31 May 2017

Shell completes sale of Australian aviation business for $250 mln: Reuters: 31 May 2017

Has completed sale of its Australian Aviation Business to Viva Energy Australia for a total transaction value of approximately $250 million.

Shell Downstream CIO Craig Walker – “We should be scared”: 23 May 2017

Walker very frankly admitted that Shell “should be scared” during our discussion, where he said that one of his biggest fears is having to go and tell his director that he’d lost a billion dollar business because he didn’t foresee a new business model for Shell, enabled by new technologies.

Canadian Oil Sands Brace As Oil Majors Dump Shares: OilPrice.com: 30 May 2017

Royal Dutch Shell and ConocoPhillips struck deals in March to sell Canadian oil assets to two Canada-based producers. In both deals, parts of the consideration for the transactions were shares of the Canadian companies that Shell and ConocoPhillips received. read more

Shell oil sands exit, mired in OPL 245 scandal, wary over Iranian Oil

Links below to a selection of news stories posted on
our sister website royaldutchshellgroup.com.

They include, among other developments, news that Shell is rightly wary of buying more Iranian crude oil. This is because of the legal minefield relating to sanctions. 

Also coverage of the latest news about the OPL 245 Nigerian corruption scandal involving Shell and ENI.

Plus Shell’s fire sale of most of its Canadian oil sands operations and the jump in total pay for Shell CEO Ben van Beurden, an issue likely to be raised at the forthcoming AGM.  read more

Lament for Royal Dutch Shell

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Kashagan AKA “Cash All Gone”

Forgot the initial cost estimate, probably around $8-10 billion. Now 10+ years too late and ballooned to $50 billionMost normal companies would have gone bust long ago.

Shell inherited some beauties from the boys of the roaring 90s. I hope someone will write a book one day on this era. 

Reserve crisis, Pearl, Sakhalin, Kashagan, Alaska, tarsands, and I must have forgotten a few. Repeated over-promise and under-delivery. All many billions over budget, extreme overruns in startup, loss in AAA status, removal of operational and technical expertise. I find the silence on Prelude ominous. Probably goes the same way as the others. read more

First carbon capture project in oilsands passes one million tonne milestone

screen-shot-2016-09-14-at-18-38-44The company, which developed the $1.35-billion Quest project with the help of $745 million from the Alberta government and $120 million from Ottawa, says the project is operating ahead of schedule and under budget.

“There isn’t a metric that hasn’t finished very strongly in green,” said Zoe Yujnovich, executive vice-president for heavy oil at Shell.

“I don’t think we can say that about many projects.”

The Quest project is designed to capture about a third of the emissions from Shell’s Scotford Upgrader near Fort Saskatchewan, Alta., turn that into a near-liquid, and then pump it over two kilometres underground into porous rock formations. read more

Oil Giants Find There’s Nowhere to Hide From Doomsday Market

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By Joe CarrollJuly 29, 2016 — 1:02 PM BST: Updated on July 30, 2016 — 5:01 AM BST

Exxon Mobil Corp. and Royal Dutch Shell Plc this week reported their lowest quarterly profits since 1999 and 2005, respectively. Chevron Corp.’s third straight loss marked the longest slump in 27 years, and BP Plc lodged its lowest refining margins in six years.

Welcome to year two of a supply overhang so persistent it’s upsetting industry expectations that the market would return to a state of balance between production and demand. It’s left analysts befuddled and investors running to the doorways as the crude market threatened to tip into yet another bear market, dashing hopes that a slump that began in mid 2014 would show signs of abating. read more

Things will get bloody, Nigerian militant group says

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By Daniel J. GraeberMay 31, 2016

ABUJA, Nigeria, May 31 (UPI) — A militant group calling itself the Niger Delta Avengers issued a warning to oil companies working in the region that its campaign is about to get bloody.

The Niger Delta Avengers have launched a steady string of attacks on energy infrastructure in the region, issuing a manifesto earlier this month that warned oil companies the attacks marked only a beginning. The group said it was frustrated by what it saw as a lack of attention to the region paid by Nigerian President Muhammadu Buhari. read more

Shell Canada reopens first oilsands mine shut down by Fort McMurray fires

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By DAN HEALING: The Canadian Press: Tues., May 10, 2016

CALGARY—The first oilsands mine shut down by wildfires in the Fort McMurray region a week ago has been restarted.

Shell Canada said Tuesday that it had resumed production at its Albian Sands mining operations about 95 kilometres north of Fort McMurray after a seven-day closure.

The operations, which include the Muskeg River and Jackpine oilsands mines, have the capacity to produce 255,000 barrels of oil a day, but Shell would say only that they were operating at a reduced rate. read more

Fort McMurray reflections by Ed Crooks of the FT

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By Ed Crooks: May 6, 2016

The thoughts of everyone in the energy industry were with Fort McMurray, the heart of Canada’s oil sands industry, which was devastated by wildfires this week. The town was evacuated, and more than a fifth of the region’s oil production was halted. There was a lot of great reporting from the local and national press. The National Post particularly stood out with features such as this live map of the areas affected by fire. Maclean’s brought the scale of the fires to people outside Alberta using comparisons with other cities in Canada, the US and Britain. NBC News carried some powerful photographs of the disaster. read more

Oil giants should ditch high-cost projects, thinktank says

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Terry Macalister Energy editor: Thursday 5 May 2016

These leading energy companies including Exxon Mobil should ditch high-cost projects in deep water and Canadian tar sands to concentrate on cheaper schemes that make money at low crude prices, says the report, Sense and Sensitivity, by the Carbon Tracker Initiative.

The report follows shareholder resolutions calling on oil companies to undertake “stress tests” on operations in the face of stronger carbon regulation and weakening fossil fuel demand as countries move to lower-carbon economies. read more

Fort McMurray Fire: Shell Turns Oilsands Camp Into Shelter For Evacuees

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CP  |  By The Canadian Press: 05/04/2016 1:02 pm EDT

Screen Shot 2016-04-20 at 13.50.03CALGARY — The wildfire raging through the heart of Canada’s oilsands capital dealt a blow Wednesday to crude perations, with Shell Canada closing a major mining facility north of Fort McMurray, Alta.

The company temporarily shut down production at its Albian Sands mining operations located about 70 kilometres north of the city.

Shell said it made the decision to focus on getting employees and their families out of the region while also freeing up room at its 2,000-person work camp for some of the 80,000 people who were ordered evacuated Tuesday from Fort McMurray. read more

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