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Posts Tagged ‘Oil’

Why Oil Production in Ogoniland is Still Impossible

Why Oil Production in Ogoniland is Still Impossible By Fegalo Nsuke:  Shortly after the hangings on 10 November 1995, Shell Oil Company set up an Ogoni Re-entry department to help the company break the Ogoni resistance and pave the way for the resumption of oil mining in the area. That was Shell’s immediate response to the […]

Workers evacuated from storm-hit Shell platform

SAM CHAMBERS: 8 FEB 2016 A Shell platform that has run into difficulties in the past is in the news again as severe weather forced an evacuation last night. Close to 80 workers were forced to leave the Brent Bravo in the North Sea last night and moved to two sister platforms as the oil […]

As Big Oil shrinks, boards plot different paths out of crisis

* Companies seek to safeguard growth for when market recovers * U.S. firms abandon deepwater projects for shale oil fields * Britain’s BP bets on Egyptian gas, Shell on major acquisition By Ron Bousso and Terry Wade LONDON/HOUSTON, Feb 7 As oil and gas companies cut ever-deeper into the bone to weather their worst downturn […]

Royal Dutch Shell plc and BG Group plc merger

By Brett Owens: Forbes.com: 6 Feb 2016 The Royal Dutch Shell plc ADR (RDS.A) and BG Group plc ADR (BRGYY) merger, which looked liked such a win-win for everyone has grown a bit complicated as the deal nears completion. The premium has shrunk, as have the benefits of the merger with prices under $90 a […]

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 […]

Corporate earthquakes

By Ed Crooks: February 5, 2016 Earnings reports from the largest listed oil companies have this week given a series of seismograph readings on the upheaval in the crude market. The implications for investors, employees and suppliers are grim. Worse, those earnings were all recorded in a period when oil and gas prices were significantly […]

Curious coincidence involving Shell, Iran, Noble Corp and $2.16 billion: Update

By John Donovan In June 2015, we published an article by a regular contributor under the headline: Curious coincidence involving Shell, Iran, Noble Corp and $2.16 billion I was contacted recently by a gentleman who carried out work on the infamous Noble Discoverer drillship, which may currently be up for sale in Singapore. He recently read the […]

We’re drowning in cheap oil – yet still taxpayers prop up this toxic industry

George Monbiot: 3 February 2016 Those of us who predicted, during the first years of this century, an imminent peak in global oil supplies could not have been more wrong. People like the energy consultant Daniel Yergin, with whom I disputed the topic, appear to have been right: growth, he said, would continue for many […]

Is the BG-Shell deal offering value to investors? Why we must adopt new world thinking to navigate oil price peaks and troughs

by Tony Manwaring – 2 February 2016 5:55am Before the invention of the marine chronometer in the 1750s, choppy waters and treacherous currents prevented the calculation of longitude when at sea. Sailors charting a route were forced to rely upon dead reckoning to set their course. Today’s captains of industry coping with similarly volatile conditions are often accused […]

S&P cuts Shell’s credit rating amid oil rout

1 FEBRUARY 2016 Standard & Poor’s sliced Royal Dutch Shell’s credit rating on Monday… The New York-based ratings company lowered Shell’s rating by one notch to “A+” from “AA-” and said it may make more cuts in the future. FULL ARTICLE

S&P Lowers Shell’s Rating, Puts Other Oil Majors on Watch

David Marino: Bloomberg.com: 1 February 2016 Standard & Poor’s lowered its rating on Royal Dutch Shell Plc and sees a significant likelihood of downgrades for several Europe-based integrated oil and gas majors in the next weeks. “We lowered our ratings on Royal Dutch Shell Plc to ’A+/A-1’ from ’AA-/A-1+’ and placed the long-term rating on […]

LIVELY POSTINGS ON SHELL BLOG 1 FEB 2016

“TEXVETTE” Looks like Marvin Odum was stripped of key responsibilities and placed in a lame Role. Ironically he will have to clean up the messes he left in Alaska and Unconventionals. A bit of Karma, but he should no longer be on the payroll after all his major mistakes. “OUTSIDER” The merger of Shell T&T and […]

Shell and BP brace for profit massacre

THE carnage unleashed by the crash in crude prices will be laid bare this week when Britain’s biggest energy companies unveil plunging profits, billions in write-downs and confirm thousands of job losses. FULL ARTICLE

9 Billion Barrels Of Crude At Risk In Massive Nigerian Oil Shakeup

…not only could Shell and Eni lose the block, but they could also face billions of dollars in fines for allegedly bribing corrupt public officials and private citizens. By Julianne Geiger: Jan. 29, 2016 Supermajors Royal Dutch Shell (RDS.A, RDS.B) and Italian Eni (NYSE:E) could be facing the loss of one of the biggest offshore […]

Nigerian President Steps Up Fight Against Shell/ENI Corruption

By Andrew Oota, Bayo Oladeji, Bode Gbadebo, By George Agba, By Jonathan Nda-Isaiah:— Jan 28, 2016  In his quest for more potent laws against money laundering and to rev up the fight against corruption, President Muhammadu Buhari yesterday presented two bills before the Senate for amendment. They are the Money Laundering Prevention and Prohibition Bill 2016 […]

9 Billion Barrels Of Crude At Risk In Massive Nigerian Oil Shakeup

9 Billion Barrels Of Crude At Risk In Massive Nigerian Oil Shakeup By Julianne Geiger: 27 January 2016  Supermajors Shell and Italian Eni could be facing the loss of one of the biggest offshore oil exploration blocks in Nigeria, putting an estimated 9 billion barrels of crude oil at risk. As the new Nigerian government launches […]

Shell, Eni In Fresh Trouble As Nigeria Begins Moves To Withdraw OPL 245

The retrieval of the controversial oil bloc, estimated to contain about 9 billion barrels of crude, as well as placing heavy fines on the oil giants, is contained in a far-reaching recommendation by the office of the Director of Public Prosecution, DPP, Mohammed Diri. The recommendation was at the instance of the Attorney General of […]

Shell, Eni in fresh trouble as Nigeria begins moves to withdraw OPL 245 from Malabu, Dan Etete

By Idris Akinbajo and Joshua Olufemi: 25 JAN 2016 The Nigerian government is set to retrieve one of Africa’s richest oil blocs from oil giants, Shell and Eni, PREMIUM TIMES has learnt. Not only will the two oil giants lose OPL 245, should President Muhammadu Buhari approve the recommendations, they will also be fined billions of […]

BG investors should approve the Shell takeover even as the oil price languishes

By Joanne Hart for The Mail on Sunday: 24 JAN 2016 It is crunch time for investors in BG Group. Last April, it unveiled a recommended £47billion takeover by Royal Dutch Shell. This week, more than nine months later, both firms are asking shareholders to approve the deal. It has been an eventful gestation period. […]

BG GROUP BEING TAKEN OVER BY A COMPANY WITH A TOXIC NAZI HISTORY: SHELL

PROOF IS PROVIDED IN THE BOOK THAT THE NAZIS ATTEMPTED TO SEIZE CONTROL OF ROYAL DUTCH SHELL. I HAVE THE PERMISSION OF THE UK NATIONAL ARCHIVE TO PUBLISH THE EVIDENCE. By John Donovan In a matter of days, I will be publishing an e-book entitled “Sir Henri Deterding and the Nazi History of Royal Dutch Shell.” […]

Shell-BG merger gains support ahead of vote

Shell’s business gamble, supported by oil prices at near record highs, is on the brink of paying off Photo: Newscast By Jillian Ambrose: 21 Jan 2016 Key investment funds have voiced growing support for the planned £47bn merger of energy giants Shell and BG Group ahead of crucial shareholder votes next week. Shell’s fifth biggest investor, Norges […]

Pink Slips at Shell Oil

Shell Oil must cut all Contractors from WIPRO, ACCENTURE AND IBM since these contractors are all under performers and these Wipro, Accenture and IBM Contractors are not having relevant experience but they bring all freshers/ Zero experienced people to work on IT projects and claim huge hourly rate that is equal to be paid for […]

SHELL JOB CUTS

POSTED ON OUR SHELL BLOG: 20 JAN 2016 As one of the many let go by Shell in the recent cull in November I was not impressed by the way senior leaders clung to their jobs. This is now going to get even worse in my opinion as Shell announces more job losses. Even the inmates […]

Shell’s profits dive ahead of BG deal shareholder vote

20 JAN 2016 Royal Dutch Shell has reported a sharp drop in profits just a week before shareholders vote on its planned takeover of smaller rival BG Group. For the fourth quarter it expects profits of $1.6bn to $1.9bn, less than half the $4.2bn it made a year ago. It expects full year profits of […]

Shell to cut 10,000 jobs in drive to slash costs

By Sara Sjolin: Published: Jan 20, 2016 3:42 a.m. ET Royal Dutch Shell PLC RDSB, -4.82% RDS.B, -1.28% plans to cut 10,000 jobs in an effort to further reduce costs amid a severe slump in oil prices. The Anglo-Dutch energy company said in its trading update on Wednesday it had slashed operating costs by $4 billion […]

Shell Fourth-Quarter Profit Plunges as Oil’s Slump Deepens

Rakteem Katakey: Bloomberg.com: January 20, 2016 Royal Dutch Shell Plc said fourth-quarter profit plunged as the rout in crude prices deepened.  The company sees profit adjusted for one-time items and inventory changes of $1.6 billion to $1.9 billion, The Hague-based Shell said Wednesday in a preliminary earnings statement. That compares with the $1.8 billion average estimate of nine […]

Shell attacked for its part in ‘extraordinary’ £2.3bn Nigerian tax break

Mark Leftly: 20 JAN 2016 Royal Dutch Shell has come under fire for being part of a consortium that accepted an “extraordinary” $3.3bn (£2.3bn) tax break in Nigeria – twice the poverty-stricken country’s annual health budget.   In a new report ActionAid estimated the consortium, which also includes France’s Total and Italy’s Eni, received this benefit […]

Shell’s Earnings to Show Depth of Rout as Oil Extends Losses

Shell will on Wednesday become the first major oil producer to announce annual earnings as it enters the final stages of its plan to buy BG Group Plc in the industry’s biggest deal in years. Investors will scrutinize those preliminary numbers for signs Europe’s largest oil company is doing enough to justify the acquisition as […]

Shell and VW top list of NGOs ‘most hated’ brands in the UK

Zlata Rodionova: 18 JAN 2016 Volkswagen has made a list of non-governmental organisations’ “most hated” brands in the UK for the first time, following a turbulent year for the company dealing with fallout from the emissions scandal. VW came in at fourth place in the survey that named Shell as the most hated brand. VW […]

VW challenges Shell as world’s ‘most hated’ brand after emissions scandal

The emissions scandal has propelled Volkswagen to the fourth spot in a list of brands most hated by NGOs, while Shell retains the top place. Energy companies dominate the list of the most criticised companies in the world. Shell’s Artic drilling plans made it a particular target for criticism in 2015, according to research by […]

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 denies Iranian report of Tehran visit

Jan 16 2016 Royal Dutch Shell on Saturday denied a report in Iranian media that it had sent representatives to Iran ahead of the expected lifting of international sanctions. Iran’s Mehr news agency had earlier reported that Shell and French oil major Total had sent executives to Tehran, and were due to meet officials from […]

Why Buying BP plc & Royal Dutch Shell Plc Is Utter Madness!

By Royston Wild – Friday, 15 January 2016 Another day, another chance for further harrowing weakness across stock markets and commodity classes. And so it has come to pass. Brent values fell even further below the $30 per barrel marker during Friday trade, marking fresh nadirs not seen since 2004. The benchmark has dropped more than […]

Stock Prices Sink in a Rising Ocean of Oil

It could get worse. The nuclear deal with Iran should allow the country to start exporting far more oil, once sanctions are lifted, potentially in a matter of days. Iran could add as much as 500,000 barrels a day to the global markets. Tentative progress in negotiations between warring factions in Libya, battling for control of oil […]

Shell, Total representatives arrive in Tehran

Shell, Total representatives arrive in Tehran TEHRAN, Jan. 16 (MNA) – Representatives of several world’s oil giants have traveled to Iran on the verge of the removal of international sanctions. A few days before the cancellation of international sanctions against Iran, a number of the largest oil companies including the Anglo-Dutch Royal Dutch Shell company […]

Shell in bed with the President of Argentina?

Dear John, It has taken some time to send you my promised request for information, but I’m now fulfilling my commitment.  I’m an Argentinian independent journalist. Usually, I write on international Politics, and in this job I regularly check your site. In recent times, however, I note the absence of references to the enormous political […]

Will Royal Dutch Shell Eliminate Its Dividend This Year?

Extracts from an article by Lior Cohen: JAN 14, 2016 Shell’s stock shed 10% off its value over the last month, as the price of oil dwindled. Following this fall, the dividend yield is currently at 9.4% – a historic level. Some investors think that because the company paid and raised its dividend since WW2, it […]

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) […]

Oil prices will get worse before they get better: Analysts

By Tom DiChristopher: 13 Jan 2016 After U.S. crude prices broke below $30 per barrel for the first time in 15 years, the market is asking how low oil futures can go? Most analyses see it rebounding in the back half of 2016, but crude faces significant headwinds in the coming months, experts told CNBC. On […]

Is Royal Dutch Shell A Buy At 52-Week Lows?

Extracts from an article by Mihir Mehta: 11 Jan 2016 Summary Shell has had a bad start to 2016 and is trading close to its 52-week low, but investors should not consider this as an opportunity despite a strong balance sheet. Shell’s strong balance sheet is overshadowed by the fact that its gross margin has […]

Worst oil bust in 45 years brings US crude below $31 a barrel

HOUSTON — The oil bust that has cost the United States roughly 70,000 energy jobs has become more severe than any downturn in 45 years, Morgan Stanley said Monday, as crude prices fell a sixth day. Crude prices tumbled below $32 a barrel on Monday, and over the past 19 months have plunged further and […]

REPORT CRITICAL OF SHELL OVER SWITCH IN NORTH SEA HELICOPTER FIRMS

See Air Transport Feedback No116 at www.chirp.co.uk The Confidential Human Factors Reporting Programme is critical of Shell giving helicopter operator Dancopter short notice of contract termination as they move the flying to CHC Helicopters threatening high pilot stress and a disincentive to report ill that they liken to Germanwings.  CHIRP don’t name the companies but they are discussed […]

A message for Shell: Follow the law or get out

5 Jan 2016 OUR expert columnists here at The Manila Times continually remind of us of critically important issues we might otherwise have overlooked in our efforts to cover day-to-day news, a mission that is challenging even under the easiest circumstances. One of those issues was brought to our attention again by Atty. Dodo Dulay, […]

NIOC, Shell reach final agreement on debt settlement

TEHRAN, Jan. 04 (MNA) – Iran’s NIOC and Anglo-Dutch Shell have reached the final agreement on how to settle the outstanding 2.3-billion-dollar debt. Upon conducting several negotiations between officials of the National Iranian Oil Company (NIOC) and the Anglo–Dutch Royal Dutch Shell, the two sides eventually reached a consensus of how to pay off the […]

Nigeria: Shell Spill Set Ablaze in Bayelsa Community

By Igoniko Oduma: 3 JANUARY 2016 Yenagoa — An oil spill site at Oruma/Yiba-Ama community, Ogbia Local Government Area, Bayelsa State, has been set ablaze by unknown persons. Sources said Shell abandoned the Ogbia segment of the spill incident without carrying out clean-up and remediation of the devastated Oruma/Yiba-Ama environment. The report of the Joint Investigation […]

US Gulf oil spill nearly ruined BP, says chief Bob Dudley

Saturday 2 Jan 2016 The giant oil spill from a BP rig off the US coast in 2010 nearly ruined the company, its chief executive has said. Bob Dudley described the fire on the Deepwater Horizon and its aftermath as “a near death experience” for the firm. It was one of the worst environmental disasters […]

Big Oil braced for global warming while it fought regulations

As many of the world’s major oil companies — including Exxon, Mobil and Shell — joined a multimillion-dollar industry effort to stave off new regulations to address climate change, they were quietly safeguarding billion-dollar infrastructure projects from rising sea levels, warming temperatures and increasing storm severity. By AMY LIEBERMAN AND SUSANNE RUST: DEC. 31, 2015 A […]

YOUR COMPANY IS EVIL

London Rising Tide protesters outside the Royal Courts of Justice to highlight Shell’s devastating pollution in Nigeria  To whom this may concern,  I am writing an e-mail to you to let you know how disgusting and disgraceful company is, I am referring to the oil spills in Nigeria where your carelessness has affected the lives of the local people […]

Shell could face ‘tens of billions in damages’ over Nigeria spills

Court rules Royal Dutch Shell can be held liable for oil spills at its subsidiary in Nigeria By Reuters: 1:34PM GMT 18 Dec 2015 A Dutch appeals court has ruled that Royal Dutch Shell can be held liable for oil spills at its subsidiary in Nigeria, potentially opening the way for other compensation claims against the […]

Shell contests Dutch ruling on Nigerian spills

By Daniel J. Graeber: Dec. 18, 2015 THE HAGUE, Netherlands, Dec. 18 (UPI) — Dutch supermajor Shell said it was disappointed that a national court in The Hague has assumed jurisdiction over claims tied to oil spills in Nigeria. Nigerian farmers said Royal Dutch Shell and the Shell Petroleum Development Company of Nigeria are liable […]

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