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Posts from ‘July, 2012’

Post-mortem on Shell Noble Discoverer “grounding”

COMMENT FROM A REGULAR CONTRIBUTOR

John,

I would like to point out that while at high tide the Shell/Noble Discoverer drill ship that slipped it anchor may indeed not have run aground  per se,(or grounded in a very muddy bottom preventing any damage) the photos show that at low tide the ship may have indeed been resting on good old ‘terra firma’. This seems to be readily apparent from elevated position of the bow of the ship in some of the photos, as well as the proximity of land to the stern of the vessel (we are talking a few ten’s of feet here at the most, and the draft of that vessel is reported to be 26 feet.’). read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell eyes Russian opportunities as profits hit by energy prices

Royal Dutch Shell said it was eyeing opportunities to expand in a new “more open” Russia, as it unveiled a 25pc slump in profits, hit by lower energy prices.

Emily Gosden By , Energy reporter 7:00PM BST 26 Jul 2012

Royal Dutch Shell is eyeing opportunities to expand in a new “more open” Russia, its chief executive said today, as he unveiled a 25pc slump in the oil major’s profits, hit by lower energy prices.

Peter Voser confirmed that discussions were ongoing about future liquefied natural gas (LNG) projects in Russia.

The company is said to be in talks about joining the huge Shtokman LNG project in the Russian Arctic, with state-controlled Gazprom.

“We have a very successful venture with Gazprom in eastern Siberia. I think our credentials are clear,” Mr Voser said. “From a strategic point of view we are open to further investments in Russia and therefore are looking at opportunities either [in] oil or LNG. We have talked with the various players. Those talks include Gazprom.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Exxon and Shell considering opportunistic bids for BP

By John Donovan

In an articled published today by The Sunday Times (Page 8 of Business Section), Danny Fortson has revealed that according to senior bankers, Exxon Mobil and Shell are both considering opportunistic bids for BP. 

The two thirds of a page article is published under the headline “Is the sun setting on BP?” and argues that BP is “vulnerable” as a result of a downsizing policy by BP’s Chief Executive.

Danny Fortson warns: “Bod Dudley may be playing a dangerous game. Shrinking the oil giant will make it more attractive to rivals…” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Peter Voser, another Shell CEO tainted by scandal

FROM A SHELL INSIDER

Hello John

No doubt you are already aware, but in these Olympic times with your queen jumping out of a helicopter, one never knows.

You are aware of the growing Libor scandal. I just read that other banks also were involved such as RBS and the Swiss UBS.

Now, who was a director not too long ago in UBS?????

And on another topic, the window of opportunity to drill a well in the arctic is narrowing by the day. Before too long they will have to postpone the whole circus for another 8 months. This will cost a fortune. Not good planning. I see similarities with the Kashagan field. Too little detailed planning upfront, too much arms-length management (the boys know what they are doing) and then things derail. No money has been earned just yet on one of the biggest discoveries in the last few decades. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s woes mount as it admits cost overruns and delays

FROM OUR JULY 2005 SHELL NEWS ARCHIVES…

THE TIMES: Shell’s woes mount as it admits cost overruns and delays

“FURTHER delays and soaring expenditure in big energy projects emerged at Royal Dutch Shell yesterday when the company admitted that the start-up of Bonga, a giant offshore Nigerian oilfield, had been pushed back until late this year.“: “Bonga’s budget has already swelled from a $2.7 billion estimate in 2001 to about $4 billion (£2.3 billion).”: “In a reference to the Sakhalin cost overruns, admitted by Shell a fortnight ago, Mr van der Veer said: “It is clear we must improve project management.”

Friday 29 July 2005

By Carl Mortished, International Business Editor

FURTHER delays and soaring expenditure in big energy projects emerged at Royal Dutch Shell yesterday when the company admitted that the start-up of Bonga, a giant offshore Nigerian oilfield, had been pushed back until late this year.

The billion barrel oilfield was expected to start producing in the summer but Peter Voser, Shell’s finance director, said that production would not get going until the fourth quarter. Bonga’s budget has already swelled from a $2.7 billion estimate in 2001 to about $4 billion (£2.3 billion). read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Guardian: Shell meets its match in the Rossport Five

FROM OUR JULY 2005 SHELL NEWS ARCHIVE…

The Guardian: Shell meets its match in the Rossport Five

“Suddenly, the issue became one of the biggest news stories of the year and, as the Irish Examiner called it, “a major public relations disaster for the Shell corporation”: “The “Rossport Five” were jailed at the specific request of the company, which had obtained compulsory purchase orders for the land in question – the first time in Irish history that such an order was granted to a private company. The five will remain in jail until they undertake not to obstruct the company.”: “Shell officials misjudged the situation…”: “July has seen huge rallies in support of the men in Co Mayo and in Dublin, the picketing of Shell garages nationwide, and round-the-clock blockades of the refinery construction site.”

William Hederman

Friday July 29, 2005

The residents of the tiny village of Rossport, in the north-west corner of County Mayo on Ireland’s Atlantic coast, have been up in arms for almost five years now. They have spent that time campaigning against a proposal by the petroleum giant Shell to lay a pipeline through their community to carry untreated gas from beneath the sea to a refinery 5.5 miles inland. Their cause secured little or no coverage in the national press until, at the end of June, five of them were jailed for refusing Shell access to their land to begin work on the pipeline. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Bloomberg: Shell Pays $150 Million to End Probe; Output May Fall

FROM OUR JULY 2004 SHELL NEWS ARCHIVE

Bloomberg: Shell Pays $150 Million to End Probe; Output May Fall

“Shell Chairman Jeroen van der Veer, 56, in a conference call from London said the settlement is a hopeful step in ending the reserves debacle that led to the ouster of three senior executives, the loss of a top-tier investment rating and more than a dozen shareholder lawsuits”

July 29, 2004

July 29 (Bloomberg) — Royal Dutch/Shell Group agreed to pay $150 million to settle U.S. and U.K. regulatory probes into the overstatement of its reserves and said the billions spent on drilling may not boost production in the next two years.

Oil and gas output at Shell, Europe’s second-largest oil company, may drop to 3.5 million barrels a day in 2006, down 2.2 percent from now. Second-quarter net income rose 16 percent to $3.77 billion from $3.26 billion a year ago, using accounting that excludes inventory-related gains. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Lifting the Anchor on Change

Posted: 07/27/2012

There are certain iconic moments that prove to be turning points in history, where the momentum swings towards change.

These are marked by symbolic events that crystalize public opinion, influence investor sentiment or lead to political upheavals.

The financial crisis in 2007-08 that ushered in policy change to limit investment risk, the Arab Spring and calls for reform or the Fukushima disaster and the upsurge in global opposition to nuclear power are all such moments.

These are defining crossroads offering us the chance of renewal. The race to save the Arctic is another such moment. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell suffers political and economic upheavals

Shell suffers political and economic upheavals

By MARTIN FLANAGAN
Published on Friday 27 July 2012 00:00

OIL prices will continue to fall in the second half of this year due to the macro-economic downturn and “unprecedented” geopolitical events, Shell’s boss Peter Voser forecast yesterday.

It came as the British-Dutch oil major revealed that underlying profits fell 13 per cent to $5.7 billion (£3.7bn) in the second quarter of 2012 from $6.6bn in the same quarter of 2011.

Voser said Shell had managed to increase its output by 4 per cent to 3.1 million barrels a day, but this had been outweighed by the fall in global energy prices in the period. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Greenpeace finds deep-sea corals on Shell’s Arctic drill site

By , Published: July 27

Greenpeace scientists have identified a dense patch of deep-sea corals in a lease area of the Arctic’s Chukchi Sea off Alaska’s northwest coast, where Royal Dutch Shell is slated to start drilling.Researchers for the advocacy group, which have been lobbying to block drilling in the Arctic this summer, went down about 150 feet in a submarine this week to take samples. During the dives, they found significant concentrations of the soft coral Gersemia rubiformis , which is commonly known as sea raspberry.

Shell is awaiting final permits to begin drilling in the Chukchi and Beaufort seas and has predicted it could start as early as next week.

In its scientific report on the Chukchi’s benthic, or seafloor, environment, Shell identified corals as occupying less than 4 percent of the habitat.

But Greenpeace marine biologist John Hocevar described the corals as the “third most abundant” species he sampled, after two types of sea stars. He conducted the mission in a leased area about 10 miles from one of the company’s vessels. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell sees opportunity in Russia

Published: July 27, 2012 at 7:47 AM

THE HAGUE, Netherlands, July 27 (UPI) — Energy company Shell declared it was open to investing in the Russian liquefied natural gas and oil sector.

Royal Dutch Shell Chief Executive Officer Peter Voser said following the announcement of second-quarter earnings that Shell had a successful partnership already with Gazprom in eastern Siberia.

“From a strategic point of view we are open to further investments in Russia and therefore are looking at opportunities either (in) oil or LNG,” he was quoted by The Daily Telegraph newspaper in London as saying. “We have talked with the various players. Those talks include Gazprom.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell flags gas project delays because of cost pressures

  • Matt Chambers
  • From: The Australian
  • July 28, 2012 12:00AM
  • read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Shell chief is the man with a plan

    By Geoff Foster: PUBLISHED: 21:54, 27 July 2012

    You would like to think that Royal Dutch Shell’s chief executive Peter Voser had a  ‘Plan B’ when he surprised everyone in the City by walking away from a £641m cash bid for Cove, allowing Thailand’s PTT Exploration to win the day.

    Of course he did. Speculation is now rife that he is in advanced talks with his counterpart at Anadarko, the US explorer, about the possible acquisition of some or all of its 36.5 per cent stake in the Rovuma-1 offshore gas fields in Mozambique. The major attraction of Cove was its 8.5 per cent stake in the Rovuma block.
    read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Will Shell voluntarily waive the $75 million cap on damages in the event of a catastrophic spill in the Arctic Ocean?

    BP voluntarily waived the $75 million cap on damages after Deepwater Horizon spill. Will Shell voluntarily wave the $75 million cap on damages in the event of a catastrophic spill in the Arctic Ocean?

    By a Guest Author, a Regular Contributor

    The Oil Pollution Act of 1990 limits oil company liability for damages resulting from an oil spill to a maximum of $75 million. The Act was instituted largely in response to a public outcry over the Exxon Valdez oil spill. Attempts have been made to raise that cap to $10 billion, but they have failed.

    The following links highlights some of the features of this act:

    Oil Pollution Act of 1990, United States

    This link gives you the full text of that Act:

    33 USC § 2701 – Definitions | LII / Legal Information Institute read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    As the Arctic Opens for Oil, the Coast Guard Scrambles

    By and on July 26, 2012

    Royal Dutch Shell (RDS/A) has spent $4.5 billion since 2005 preparing to explore for oil off Alaska’s north coast in the Arctic. Shell, which may begin drilling next month, is one of at least six companies planning to extract oil, gas, and minerals from the Arctic as global warming melts ice and opens new sea lanes to commerce. The Arctic region holds about a fourth of the world’s undiscovered oil and natural gas, according to the U.S. Geological Survey. About 84 percent of this treasure trove lies beneath the ocean floor. The U.S. has more than 1,000 miles of Arctic shoreline, and much of the country’s Arctic oil is there. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Shell to scale back Arctic drilling plans

    By Jennifer A. Dlouhy: Updated 07:33 p.m., Thursday, July 26, 2012

    Shell’s Chief Executive Officer Peter Voser addresses the audience during the opening ceremonies for Motiva’s Crude Expansion Project in Port Arthur on Thursday. Photo taken Thursday, May 31, 2012 Guiseppe Barranco/The Enterprise Photo: Guiseppe Barranco / The Beaumont Enterprise

    Shell is scaling back plans to drill up to five wells in Arctic waters this summer amid a series of setbacks, including stubborn sea ice clinging to Alaska’s shores and delays in construction of an emergency oil spill containment barge. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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