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Wednesday, 11 February 2009 The banking crisis is going to hit exploration and development in the oil industry over the next 12 to 18 months, a report has warned. Oil and Gas UK blamed the situation on a combination of low oil prices and the freezing of capital markets. The assessment comes after a survey of 75 companies. The organisation called for the industry and government to act. Last week Aberdeen and Grampian Chamber of Commerce forecast major job losses in oil and gas over the next year. Companies have said that despite high oil prices last year the cost of developing and producing UK oil and gas had risen substantially. The Oil and Gas UK survey suggested that only a third of new developments under consideration will break even at current costs. Dropping prices The organisation’s chief executive, Malcolm Webb, said the industry was at the crossroads. Mr Webb said it needed urgent government help and should concentrate in the short-term on mitigating the effects of the downturn. But he said he was hopeful that talks with ministers would mean a range of measures being announced soon. The economic slowdown has curbed demand for fuel around the world. The current price of oil is more than $100 below the record price of close to $150 a barrel seen last July. |
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SHELL OFFICIAL ENDORSEMENT OF THIS WEBSITE
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This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. No advertising is accepted. It is an entirely free to use non-commercial website drawing attention to the negative side of Shell. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found here on WIKIMEDIA COMMONS. Use this link for Shell’s own website.
SHELL PROPPED UP APARTHEID
ARTICLE: U.S. unions urge boycott of Shell to fight apartheid: 19 Jan 1986
ARTICLE: Shell, South Africa and Apartheid: 16 Oct 2012
ARTICLE: Shell propped up racist apartheid regime in South Africa: 24 Nov 2012
ARTICLE: The Neptune Strategy:Shell, propped up Apartheid in South Africa: 26 Nov 2012
ARTICLE: Shell accused of benefiting from South African apartheid-era land law: 21 March 2013
ARTICLE: THE CAMPAIGN TO END APARTHEID: 12 Dec 2013
RELEVANT PAGES FROM "A HISTORY OF ROYAL DUTCH SHELL, VOLUME 3, PUBLISHED IN 2007. PREPARED BY SHELL'S PAID HISTORIANS. DEALS WITH SHELL'S SUPPORT FOR APARTHEID
SHELL TOXIC BRANDS
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