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Posts Tagged ‘Oil’

Exxon Mobil Corporation, Chevron Corporation, BP And Royal Dutch Shell Face Challenging Dividend Environment

Bidness Etc sheds light on the challenges for companies like Exxon, Chevron, BP, Royal Dutch Shell, and Total SA in sustaining dividend payouts amidst depressed crude oil prices By: MICHEAL KAUFMAN: Sep 1, 2015  Crude prices have dropped more than 50% since the highs of June last year, following weak Chinese demand and a global supply […]

Shell Arctic Drilling Plans

By: MICHEAL KAUFMAN: Sep 1, 2015 Royal Dutch Shell Plc’s (ADR) (NYSE:RDS.A) drilling operations in the Arctic had been temporarily halted due to adverse weather conditions in the region. The company has now resumed part of its operations and has also indicated that drilling plans will continue in full swing once the company completes a comprehensive […]

Obama on Climate Change: Act Now or Condemn World to a Nightmare

by HALIMAH ABDULLAH and M. ALEX JOHNSON: NEWS SEP 1 2015 In a forceful address, Obama opened the “GLACIER” conference in Anchorage, Alaska, by declaring: “We are not moving fast enough. None of the nations represented here are moving fast enough.” Just weeks ago, Obama gave final approval to Shell Oil’s drilling in the Alaskan Arctic […]

Shell Resumes Operations After Storm Force Arctic Stop

ANCHORAGE, Alaska — Aug 31, 2015, 10:31 PM ET Royal Dutch Shell PLC has resumed operations after high winds and rough seas north of Alaska’s northern coast put a temporary stop to exploratory drilling in the Arctic Ocean. But Shell spokesman Curtis Smith says in a Monday email to The Associated Press that full operations, […]

In Alaska, Obama Highlights Climate Change While His Decisions Draw Accusations of ‘Hypocrisy’

Environmental groups are outraged over his drilling policies. Kate Sheppard: Senior reporter/Environment and energy editor, The Huffington Post WASHINGTON — As President Barack Obama visits Alaska this week, he is facing criticism and outright outrage from environmental advocates who say his focus on climate change while in the region contradicts his administration’s decision to allow Shell […]

Arctic Drilling: A Giant Gamble for the Planet and Shell’s Bottom Line

Kieran Cooke, Climate News Network | August 31, 201 Shell is betting on finding the oil industry’s Holy Grail: according to 2008 estimates by the U.S. Geological Survey, the Arctic contains more than 20 percent of the world’s remaining hydrocarbon resources—including at least 90 billion barrels of oil. If Shell does strike oil in big quantities […]

Oil prices slide as Obama lets Shell drill in the Arctic

As the giant Shell oil company begins highly controversial and risky exploration drilling in the Arctic, the price of crude continues to slide. Kieran Cooke from Climate News Network reports: 31 August 2015 It’s a gamble — some would say a giant gamble. Before even one litre of oil has been found, the Anglo-Dutch Shell group is […]

U.S. Is Seen as Laggard as Russia Asserts Itself in Warming Arctic

Sources: American Association of Petroleum Geologists, Bureau of Ocean Energy Management, IBRU at Durham University, Bordermap Consulting, KlimaCampus Integrated Climate Data Center, U.S. Geological Survey: By The New York Times By STEVEN LEE MYERSAUG. 29, 2015 ABOARD COAST GUARD CUTTER ALEX HALEY, in the Chukchi Sea — With warming seas creating new opportunities at the top […]

President Obama Defends Shell Arctic Drilling Decision

By: MICHEAL KAUFMAN: Aug 29, 2015  Critics argue that allowing Shell to explore Arctic for oil goes against the country’s stance on climate change President Obama has defended his decision to grant approval for drilling in the Arctic region, ahead of his trip to Alaska. Royal Dutch Shell plc (ADR) (NYSE:RDS.A) had been seeking the […]

Why Shell Announced Force Majeure On Nigerian Bonny Crude Export

By: MICHEAL KAUFMAN: Aug 28, 2015 On Thursday, August 27, Royal Dutch Shell plc’s (ADR) (NYSE:RDS.A) Nigerian unit closed down its two crude pipeline and declared “force majeure” on export of Bonny Light crude, as reported by Reuters. The Hague-based company closed the Trans Niger Pipeline at Oloma because of a leakage in the pipeline. The […]

High winds cause flooding in Barrow, prompts Shell to pause oil drilling

Yereth Rosen and Alex DeMarban: 27 August 2015 Huge, wind-whipped waves crashed onto the shore at Barrow on Thursday, forcing the closure of a nearby road, the National Weather Service reported. Westerly winds were gusting up to 50 miles an hour, pushing waves up to the top of the beach and causing some erosion, the National Weather Service said. […]

Charlotte Church joins the campaign trail once again as she performs a requiem in musical protest over Arctic drilling

By REBECCA DAVISON FOR MAILONLINE: 26 August 2015 Singer Charlotte Church joined a protest rally outside the Shell headquarters in London on Wednesday in protest over Arctic drilling on behalf of Greenpeace.  The 29-year-old took to the streets to lead a performance of Requiem for Arctic Ice as well as The Bitter Earth outside the building, […]

Royal Dutch Shell Is Now A 7.54% Dividend Yield Monster

Aug. 24, 2015 6:45 PM ET Summary Stock market downturn takes Shell’s dividend yield to an astonishing 7.54%. The dividend looks reasonably safe. High initial yield but little growth expected in coming years. Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B) doesn’t need an introduction. This Anglo-Dutch multinational is one of the largest, integrated oil & gas majors […]

Shell begins ‘high-risk’ drilling for Arctic oil

Robin Pagnamenta Energy Editor: August 22, 2015 Shell has begun the final stage of its $7 billion attempt to drill for oil in Alaska’s remote Chukchi Sea. Despite tumbling oil prices and opposition from Hillary Clinton and conservationists, this weekend a steel drill bit was grinding its way through rocks deep beneath the icy waves. […]

Charlotte Church adds her voice to Arctic oil protest

Emma Howard: Friday 21 August 2015 Her performance is part of a month-long protest that Greenpeace is staging, with different groups – from brass bands to bagpipes – playing the same four-piece movement every day during August to highlight Shell’s Arctic venture. The project was inspired by the string quartet on the Titanic, who continued […]

Oil Companies Sit on Hands at Auction for Leases

By CLIFFORD KRAUSS: AUG. 20, 2015 PAGE B1 IN NEW YORK EDITION HOUSTON — With oil prices collapsing and companies in retrenchment, a federal auction in the Gulf of Mexico on Wednesday attracted the lowest interest from producers since 1986. It was the clearest sign yet that the fortunes of oil companies are skidding so fast […]

Shell shares slump as it gets green light for Arctic drilling

TOM BAWDEN: THE INDEPENDENT: Tuesday 18 August 2015 Shell’s shares slumped today after the US government finally gave it the green light to drill for oil and gas in the Arctic Ocean. The FTSE 100 oil giant will be able to explore the ocean floor for hydrocarbons for the first time since 2012, when a series […]

Shell gets final nod to drill in Arctic Ocean

By Seattle Times staff Seattle Times news services WASHINGTON — The federal government Monday gave Shell the final permit it needs to drill for oil in the Arctic Ocean off Alaska’s northwest coast for the first time in more than two decades. President Obama is ending restrictions on Shell’s drilling in the Arctic Ocean — […]

U.S. gives Shell final nod to drill for oil in Arctic

Markets | Mon Aug 17, 2015 By Timothy Gardner Aug 17 (Reuters) – The Obama administration granted Royal Dutch Shell final clearance on Monday to resume drilling for oil and gas in the environmentally fragile Arctic Ocean for the first time since 2012, a move green groups vowed to fight. The U.S. Department of the […]

Arctic drilling not consistent with Obama climate change fight, report says

Arctic drilling not consistent with Obama climate change fight, report says By: Carl Surran, SA News Editor The Obama administration’s crusade against climate change is “inconsistent” with allowing Royal Dutch Shell (RDS.A, RDS.B) to drilling for oil in the Arctic Ocean, environmentalists warn in a new report. Pres. Obama has said he will consider climate […]

Shell exacerbates housing shortage in Alaska port town

Nation’s largest fishing port was already short on housing. With Shell in town, locals say things are getting worse. Ryan Schuessler Aug. 13, 2015 Not much has changed in Unalaska, Alaska, since Flor Luna had trouble finding a place to live when she moved here 14 years ago. “When I first came here, I put […]

Former BP chief exec warns Shell about Arctic drilling

Former BP chief exec warns Shell about Arctic drilling Kamala Kelkar: August 13, 2015 The former chief executive of BP, who headed the company during a spate of nasty disasters including the biggest ever pipeline spill in the North Slope, warned Shell that drilling in the Arctic could hurt its reputation. Former BP CEO Lord Browne told […]

A Spineless Shell of a Company: You aren’t fooling anyone

By Jean Card: 13 August 2015 Have you heard? Royal Dutch Shell (that’s Shell oil company to most of us) is going to save the planet. It wants to stop climate change! How? Wait for it. The company is dumping its membership in the American Legislative Exchange Council (a former employer of mine). What a […]

Shell’s Drilling Plans Expose Just How Unprepared The U.S. Is For A Melting Arctic

BY NATASHA GEILING AUG 12, 2015 1:02PM As Shell moves forward with its plans to drill in remote Arctic waters, the U.S. Coast Guard is being forced to divert resources — including a national security ship normally used for monitoring drug trafficking — to ensure that the oil and gas company sticks to its safety […]

Shell Oil ditches conservative group that fuels climate change deniers, while drilling for oil in the Arctic

August 12, 2015 | By Joel Connelly Royal Dutch Shell is severing its ties with the American Legislative Exchange Council, a conservative groups that has worked in states to block President Obama’s Clean Power Plan to curb coal plant emissions. Shell has cited ALEC’s stand on climate change as the reason for not renewing its […]

Can Shell afford Arctic oil?

Karl Mathiesen: Wednesday 12 August 2015 This is the first time the Anglo-Dutch giant’s star-crossed Arctic programme will drill deep enough to hit oil. The company has reportedly spent $7bn (£4.5bn) on getting to this point, including replacing its prize Kulluk rig after it ran aground off Alaska in 2012. For them to gain any […]

Shell ready to begin drilling for oil in the Arctic

Karl Mathiesen: Tuesday 11 August 2015 Shell is set to restart its controversial hunt for Arctic oil, three years after the company’s last ill-fated venture north. A spokeswoman for the company said: “Fennica is in the Chukchi Sea, drilling continues, and we have requested the permit to drill deeper in this exploration well.” FULL ARTICLE

Shell Seeks Modified Permit for Arctic Offshore Drilling

ANCHORAGE, Alaska — Aug 10, 2015: By DAN JOLING Associated Press Royal Dutch Shell PLC has applied to amend its federal permit to allow drilling into oil-bearing rock in the Arctic Ocean off Alaska’s northwest coast. Shell last month received permission to begin some drilling in the Chukchi (chuk-CHEE’) Sea but was banned from digging into […]

U.S. sanctions put Gazprom-Shell alliance plans in jeopardy

MOSCOW | BY DENIS PINCHUK AND KATYA GOLUBKOVA: Mon 10 August 2015 Royal Dutch Shell’s (RDSa.L) plans to build a strategic alliance with Russia’s Gazprom (GAZP.MM) could be in jeopardy after the United States added one of Gazprom’s biggest gas fields to its list of Russian sanctions on Friday. Shell and Gazprom signed an agreement […]

New head of Nigeria’s state oil company sacks top management

By Julia Payne Aug 5 (Reuters) – The new head of Nigeria’s state oil firm dismissed senior managers after a government directive, the company said on Wednesday, barely a day after President Muhammadu Buhari appointed him as managing director. “All of the executive directors were let go … Buhari wanted a clean slate,” one of […]

Arctic Drilling: Inspectors Watching Shell 24/7

By MarEx 2015-08-07  Shell has started its drilling operations in the Arctic and the Bureau of Safety and Environmental Enforcement (BSEE) is keeping very close tabs on their activities. BSEE Inspectors arrived in the Chukchi Sea to ensure the oil major is in compliance with federal regulations and safety standards. The BSEE will oversee Shell’s […]

Shell and Esso offload North Sea fields

Greig Cameron / Thursday 6 August 2015 SHELL and Esso have agreed to sell stakes in a cluster of North Sea fields for $105 million. Malaysian firms Ping Petroleum and Hibiscus Petroleum are each taking 50 per cent of the oil producing Anasuria assets, located around 175 kilometres east of Aberdeen. That includes the Guillemot […]

Nigeria: Shell must match government’s commitment to clean oil spills – Amnesty International

By Press Release: August 6, 2015 Shell must match the Nigerian government’s new commitment to tackle oil pollution in the Niger Delta by dramatically improving how it cleans up spills, Amnesty International said today. President Muhammadu Buhari’s announcement on Wednesday of a trust fund to pay for the clean-up of the Ogoniland region in the Niger […]

People will remember Shell Oil as a symbol of planet-destroying greed

Bill McKibben: Thursday, August 6, 2015  Shell Oil’s icebreaker Fennica is apparently on its way to the Arctic, ending a dramatic week-long siege that saw activists dangle from bridges and blockade the Portland harbor with kayaks, and a federal court threaten environmentalists with heavy fines. Amid the drama of the action, and the drama of […]

Why Native Alaskans Support Shell’s Arctic Drilling

by Paul Barrett: August 6, 2015: BLOOMBERG.COM Activists trying to stop Shell’s offshore oil drilling in the U.S.’s Arctic Ocean region invoke the interests of native Alaskans. “These communities depend on this environment for food and resources and have stewarded it for centuries,” Greenpeace says, as part of its “The People vs. Shell” campaign—what the group […]

Shell Begins The Recovery Of Spilled Crude At Adibawa Oil Fields

BY SAHARA REPORTERS, NEW YORK: AUG 06, 2015 After weeks of prolonged rift with host communities and the resulting degradation of the environment, the Shell Petroleum Development Company of Nigeria (SPDC) has commenced the recovery of spilled crude from its Adibawa oil fields. Mr. Sunny Jacob Ubele, the traditional ruler of Edagberi community, said on Thursday […]

Source: Bureau of Ocean Energy Management BY TIM BRADNER ALASKA JOURNAL OF COMMERCE: 06. 08. 2015 Shell is finally drilling in the Chukchi Sea. The semi-submersible Polar Pioneer “spudded” the Burger J well at 5 p.m. July 30, company spokeswoman Meg Baldino said. Meanwhile, an ice-management vessel sent to Oregon for repairs, the Fennica, is […]

‘It’s just too big a prize': Why Shell sticks to Chukchi plans, despite obstacles

Alaska Dispatch News: August 5, 2015 Despite tumbling oil prices, rising costs, legal woes, heated political opposition and a series of missteps and misadventures, Royal Dutch Shell is pushing forward with its plan to drill for oil in the offshore regions of Alaska’s remote Chukchi Sea. Why? In a wide-ranging narrative, Bloomberg Business details the company’s struggles in […]

Inside Shell’s Extreme Plan to Drill for Oil in the Arctic

by Paul Barrett and Benjamin Elgin: 5 August 2015: BLOOMBERG.COM Protesters near the Polar Pioneer.: Photographer: Keri Coles/Greenpeace In a windowless conference room in Anchorage, a dozen Royal Dutch Shell employees report on the highest-profile oil project in the multinational’s vast global portfolio. Warmed by mid-July temperatures, Arctic ice in the Chukchi Sea, northwest of the Alaskan mainland, […]

Shell to Strengthen Russian Hand Through Gazprom Asset Swap

by Rakteem Katakey: August 3, 2015: BLOOMBERG.COM Royal Dutch Shell Plc will swap a stake in one of its international energy assets for part of Gazprom PJSC’s Sakhalin-3 project as Europe’s biggest oil company extends ties with Russia. The companies are discussing which asset would be offered to Gazprom, Shell Chief Executive Officer Ben Van Beurden […]