Tony Hayward, group chief executive of British Petroleum, made heads turn at the World Economic Forum in Davos, forecasting a supply challenge for the energy industry, which would have to increase output to 100mbd a new peak for oil from the current capacities of 83-84 mbd. He was strongly backed by Mr Peter Voser, CEO of Royal Dutch Shell, who added to the scare stating that the industry would have to find up to $27 trillion to fund the investment in oil over the next 20 years.
April, 2010:
Oil: A tale of two cartels
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website,
johndonovan.website, and shellnews.net,
are owned by John Donovan. There is also a Wikipedia segment.
Oil groups turn focus back to traditional fields
Europe's largest oil company by market value, Royal Dutch Shell Plc (RDSa.L) has said it plans to direct 60-70 percent of its investments into the industrialised countries of the Organisation for Economic Co-operation and Development (OECD).
Oil rig spill off Louisiana could threaten coastline
The slick has now grown to about 1,500 sq km
BBC NEWS
There are fears of an environmental disaster in the Gulf of Mexico, as efforts to clear up an oil spill have been suspended because of bad weather.
A drilling rig leased by the oil company BP exploded and sank off the Louisiana coast last week.
Some 1,000 barrels of oil a day are leaking into the sea from the damaged well, officials say.
They say the oil leak has the potential to damage beaches, barrier islands and wetlands across the coastline.
Eleven workers are still missing and presumed to have been killed in the accident. The search for them has been called off.
Shell saved Hitler and the Nazi Party
How Royal Dutch Shell saved Hitler and the Nazi Party. Same motive then, as for Shell dealing with the terrorist Gaddafi, the corrupt Saudi regime and the fanatical Iranian mullahs now: access to oil. We have gathered much more evidence of Shell’s evil relationship with the Nazi.
Rig blast shadows rise in BP profits
The Sunday Telegraph: BP is expected to say this week that profits almost doubled in the first quarter, as it investigates the circumstances surrounding the explosion of a drilling rig it had hired in the Gulf of Mexico.
‘Serious spill’ from sunken US oil rig
Oil leaks from a sunken drill pipe 5,000 ft beneath the ocean surface
BBC NEWS
Oil is leaking from a damaged well feeding a rig that sank off Louisiana on Thursday, in what US officials are calling “a very serious spill”.
The well is estimated to be leaking at a rate of about 1,000 barrels (42,000 gallons) of oil per day.
Although the US coastguard said on Friday that no leak was detected, the latest evidence suggests a spill. Bad weather has hampered efforts to fix it.
Eleven workers are still missing after an explosion and fire on Tuesday.
The Deepwater Horizon had been burning for 36 hours when it sank on Thursday in 5,000 ft (1,500m) of water, despite efforts to control the flames.
Heysham Shell Oil Refinery – Witness Appeal
Monday, 5 April 2010
Paralegals Field Fisher Waterhouse are looking for people who worked at the Shell Oil Refinery in Heysham, Morecambe, from around 1945 to 1960.“We are investigating a possible claim relating to asbestos exposure for a family,” they tell us. “Any help or information would be very much appreciated.
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website,
johndonovan.website, and shellnews.net,
are owned by John Donovan. There is also a Wikipedia segment. “Please contact Rose on 020 78 614 624 or [email protected]”.
Short-termism at Royal Dutch Shell
UPDATED MONDAY 26 APRIL 2010
“In an obsessively cost conscious environment such as the one that rules in Shell at the moment all labour-intensive sectors are at risk irrespective of their intrinsic value or their competence or even the likely long-term demand for their products and services.”
Posting on Shell Blog by Wilt Staph on Apr 24th, 2010 at 12:14 pm
A couple of decades ago Shell had five refineries in the United Kingdom when the sale of Stanlow is completed soon they will have none. Is this because refining is a sunset industry with no growth potential and no chance of earning returns? Not if you take note of reliable global demand forecasts it isnt. The US Joint Forces Command the top of the American armed forces pyramid has recently said that globally a severe energy crunch is inevitable without massive expansion of production and refining capacity. Most other forecasters agree that the planet will need substantially more not less refining capability in the years ahead. So why has Shell retreated so dramatically from refining and what are the implications for the new Shell which will emerge from the radical reviews underway under Peter Voser?
Fears ease over BP oil well disaster
FINANCIAL TIMES
By Ed Crooks and Sheila McNulty
Published: April 23 2010 20:06 | Last updated: April 24 2010 02:48
The BP oil well in the Gulf of Mexico that suffered a catastrophic accident on Tuesday night appeared to have stopped leaking on Friday, easing fears that it could cause serious environmental damage.
The incident nevertheless ranks as one of the US offshore industrys worst disasters. On Friday night the search was called off for the 11 workers missing from the Deepwater Horizon rig that had been working on the well.
BP’s reputation at risk after oil rig explosion
Daily Telegraph
Tony Hayward is at the centre of his first major crisis as chief executive of BP, after a drilling rig the company hired exploded in the Gulf of Mexico.
By Garry White
Published: 6:19PM BST 23 Apr 2010
The rig, called Deepwater Horizon, was owned and operated by Transocean. Eleven of the Swiss-based company’s staff are still missing.
BP has sent a flotilla of 32 ships to help to clean up the resulting oil slick. The US Coast Guard says about 200 barrels of oil were spilled and there was no oil escaping from the well the rig had tapped.
“We are determined to do everything in our power to contain this oil spill and resolve the situation as rapidly, safely and effectively as possible,” Mr Hayward said. “We have assembled and are now deploying world-class facilities, resources and expertise, and can call on more if needed.”
EARNINGS FORECAST TABLE: Royal Dutch Shell 1Q 2010
THE WALL STREET JOURNAL
APRIL 23, 2010
FRANKFURT (Dow Jones)–The following is a summary of analysts’ forecasts for Royal Dutch Shell PLC’s (RDSB) first-quarter results, based on a poll of 12 analysts by Dow Jones Newswires (in million USD, target price in pence, production in kboe/d, according to IFRS). Earnings figures are scheduled to be released April 28.
=== CCS Earnings Production Target 1st Quarter adjusted(a) (kboe/d) Price Rating AVERAGE 3,976 3,401 2,128 Prev. Year 3,010 3,395 n.a. +/- in % +32 +0.2 n.a. MEDIAN 3,956 3,413 2,100 Maximum 4,210 3,480 2,350 Minimum 3,716 3,228 2,000 Amount 12 12 9 Barclays 4,182 3,480 2,350 Equalweight Benchmark Cap. 3,809 3,228 -- Sell Citigroup 3,957 3,396 2,200 Buy DnB NOR 3,941 3,375 -- Buy Exane BNP Par. 4,156 3,446 2,150 Outperform ING 3,954 3,419 2,020 Hold Keijser Capital 4,210 3,477 2,100 Hold Morgan Stanley 4,015 3,428 2,000 Underweight Oddo 3,716 3,406 2,050 Add Oppenheimer 3,947 3,274 -- Perform Societe Generale 3,800 3,399 2,230 Buy UniCredit 4,030 3,480 2,050 Hold ===
Shell Said to Join Exelon in Backing Senate Climate Measure
By Kim Chipman and Jim Efstathiou Jr.
April 24 (Bloomberg) — Royal Dutch Shell Plc and ConocoPhillips are among oil companies intending to back climate-change legislation in the U.S. Senate, according to people familiar with their plans.
Exelon Corp., the biggest U.S. utility owner by market value, also supports the measure, and Chief Executive Officer John Rowe will be on hand when the bill is presented at a news conference on April 26, said Howard Riefs, a spokesman for the Chicago-based company.
Oil firms benefit from crude prices
24 April 2010
Oil majors BP and Royal Dutch Shell are set to benefit from improving crude prices when the rivals present their first-quarter figures.
Consensus forecasts put underlying profits from BP on Tuesday at around 4.8 billion dollars (£3.1 billion) – almost double its earnings for the first quarter of 2009.
Similarly Anglo-Dutch rival Shell is likely to make gains on last year’s 3.3 billion dollars (£2.2 billion) in first quarter figures on Wednesday.
In its recent strategy update, BP said it would begin production on 42 major projects worldwide over the next five years as existing fields decline, and boost profits by taking more costs out of the business.
Deepwater Horizon oil rig sinks, sparking pollution fears
Crude oil could be spilling into waters off Louisiana coast
Hopes fade for 11 workers missing after explosion and fire
- Associated Press
- guardian.co.uk, Friday 23 April 2010 12.31 BST
Eleven US workers who are missing after a fire on the Deepwater Horizon oil rig off Louisiana are feared dead Link to this video
A deepwater oil platform that burned for more than a day after an explosion has sunk in the Gulf of Mexico as hopes faded of finding 11 missing workers.
The sinking of the Deepwater Horizon could release more than 1,135,600 litres of crude oil a day into the water. The environmental hazards would be greatest if the spill were to reach the Louisiana coast, about 50 miles (80km) away.
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