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Motiva expansion cost in range of $10 billion: Saudi Aramco CEO

PORT ARTHUR, Texas | Thu May 31, 2012 2:37pm EDT

(Reuters) – Saudi Aramco SDABO.UL Chief Executive Khalid Al-Falih said the total cost of expanding the Motiva Enterprises MOTIV.UL Port Arthur, Texas, refinery to 600,000 barrels per day (bpd) was “in the range of” $10 billion, double its original estimate.

The Port Arthur refinery is the largest investment Saudi Aramco, which is a 50-50 partner with Royal Dutch Shell Plc (RDSa.L) in Motiva, has made outside the kingdom of Saudi Arabia, Al-Falih told reporters on Thursday. read more

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Tax is no deterrent for investors, says Shell boss

David Wroe: June 21, 2012

THE chief executive of Shell, Peter Voser, has applauded the Gillard government’s $23 carbon price, saying it should not deter investment in Australian resources projects and countries that failed to follow suit would fall behind.

Shell, the world’s second-largest energy firm, is investing more than $30 billion in Australia in the next five years. Mr Voser told the ABC’s 7.30 program last night the company already assumes a $40 carbon price when it judges whether or not a project will be profitable. read more

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Shell in the dock over major oil spills in Nigeria

By Ben Amunwa: 18 June 2012

Shell will appear in the High Court in London today to be held accountable for its oil spills in the Niger Delta region of Nigeria. Over 11,000 Nigerians from Bodo town in the Ogoni region of the Delta are suing Shell over the environmental damage caused by two devastating oil spills in 2008 and 2009. Shell has admitted liability but refuses to provide adequate compensation to the many thousands of victims of the spills. The court hearing will deal with matters of civil procedure. read more

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Shell in the USA

FROM A REGULAR CONTRIBUTOR

John,

I read your blog today and the article about how much Shell hopes to gain financially from any discoveries it makes in the offshore Arctic.

Market Report: $10bn if Shell cracks it with Arctic drilling

The estimate of $10 billion is way low, I believe. My guess is that Shell’s economic analysis and projections range anywhere from $100 billion to $500 billion, depending upon how recoverable oil and gas are actually discovered and the price per bbl for the oil. Estimates are that there are around 25 billion bbls of recoverable oil in US Arctic waters. And at a measly $10 per bbl after tax profit that equates to roughly $250 billion in profit. If oil prices stay high Shell could easily make $30 per bbl after tax profit. And then there is the natural gas. read more

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Kiobel v. Royal Dutch Petroleum Co: Harvard Law School Intervention

U.S. Supreme Court: Harvard Lawyers Reflect Spirit of American Revolution, says Dr. Goodluck Diigbo

MOSOP President and Spokesman, Dr. Goodluck Diigbo has welcomed the filing by the Harvard Law School’s International Human Rights Clinic of an amicus curiae brief with U.S. Supreme Court in the case, Kiobel v. Royal Dutch Petroleum Co. as a significant legal American enlightenment action.

Diigbo said: “This Harvard amicus curiae brief will remind all American citizens and the United States government of the very core values that led to the American Revolution, which provoked a series of social, political, and intellectual transformations that ultimately rejected colonial tactics in order to break free from the British Empire.” read more

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Market Report: $10bn if Shell cracks it with Arctic drilling

Toby Green Wednesday 20 June 2012

Environmentalists may want to look away now. Royal Dutch Shell’s search for oil in the Arctic has not been short of controversy, coming under attack from, among others, Xena: Warrior Princess actor Lucy Lawless, who earlier in the year boarded one of the energy giant’s ships in protest against the drilling.

Yet yesterday came a reminder why Shell is pushing on with its quest — money, and rather a lot of it. Ten billion dollars (£6.4bn) in fact, according to the calculations of Nomura’s analysts, who think that is how much Shell could net from the region. read more

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Shell Faces Pushback As Alaska Drilling Nears

June 19, 2012

by

The federal government could soon give the final go-ahead for Royal Dutch Shell to begin drilling for oil in the Arctic Ocean. Shell has spent $4 billion since 2007 to prepare for this work, and is hoping to tap into vast new deposits of oil.

But the plan to drill exploratory wells is controversial — opposed by environmental groups and some indigenous people as well.

You can get a feel for this controversy by stepping aboard the Nanuq. Shell plunked down $100 million for this 300-foot-long, Arctic-class spill-response vessel. And unlike similar vessels that serve the oil industry in the Gulf of Mexico, there’s no foul-smelling black smoke coming out of the stacks. read more

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New Motiva Texas CDU might stay shut for a year

New Motiva Texas CDU might shut for 12 months-sources

HOUSTON, June 19 | Tue Jun 19, 2012 11:48pm IST

(Reuters) – A new 325,000 barrel per day crude distillation unit at Motiva Enterprises’ 600,000 bpd Port Arthur, Texas, refinery may be shut for up to 12 months to repair extensive corrosion, sources familiar with refinery operations said on Tuesday.

Motiva, a joint-venture of Royal Dutch Shell Plc and Saudi Aramco, has yet to make a final determination of the cause of the corrosion or the scope of work needed to repair it, the sources said. read more

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World’s Largest Shale Gas Discovery

FROM A REGULAR CONTRIBUTOR

John,

This is news about the newest shale gas discovery in Canada. Apache just announced this shale gas discovery. It is perhaps the largest shale gas discovery ever. Canadian gas reserves are expanding at a tremendous rate. Canada provides the US with 90% of its imported natural gas. This discovery will almost double Canada’s proven natural gas reserves.
 
Apache finds massive Canadian shale-gas field‎
(Reuters)

Apache Corp Make the World’s Largest Shale Gas Discovery in British Columbia (OilPrice.com) read more

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Shell’s corrupt practices in Libya

Shell drafted letter Tony Blair sent to Gaddafi while Prime Minister

By John Donovan

We have received further confidential information from disgruntled Shell Libya security staff; namely VIP Recruitment Records for Shell Libya.

These records shows a system was set up by Shell so that relatives of senior members of the Gaddafi regime, including  government ministers, Libyan Ambassadors, the head of the Libyan Investment Fund and officials from the Libya National Oil Corporation, were all given preferential treatment for Shell job applications.  read more

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Shell to lift mine from oil pipeline

Oil giant Shell is preparing to remove a World War II mine threatening one of the UK’s most important gas pipelines.

Ryan Crighton
Aberdeen Press and Journal
June 18, 2012

Oil giant Shell is preparing to remove a World War II mine threatening one of the UK’s most important gas pipelines.

A subsea bomb squad is planning an attempt to reach the device, which lies in the North Sea 62 miles off St Fergus, in August.

The mine has been monitored by the firm with independent professional input since it was first found in 1993 and is said to be stable.

But it lies beneath a pipeline responsible for 5% of the UK’s daily gas supply. read more

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The Shell Oil Hoax: Is Your Brand Next?

Beware: Tools to Create a Faux Ad Campaign Are Cheap and Easy to Use

(Credit: Daniel Hixon via Shutterstock/Salon)

By: Jonathan Salem Baskin Published: June 18, 2012

The viral video clip looked as if it had been shot at a press conference announcing Shell’s plans for new Arctic drilling. So it was particularly ironic when a soda-pop dispenser shaped like an oil rig malfunctioned and sprayed revelers with cola (they used tiny polar bear dolls to sop it up). When the video got hundreds of thousands of views and was reported in mainstream media, Shell threatened legal action. If people were interested in the real story, they could visit the company’s site, ArcticReady.org, which detailed the opportunities for profit created by global warming. read more

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Shell’s board to visit Australia

Peter Klinger and Andrew Probyn, The West Australian June 19, 2012, 7:09 am

Royal Dutch Shell’s board is a who’s who of global business, befitting of a company worth $213.5 billion.

Shell’s chairman Jorma Ollila used to run Nokia. Fellow director Josef Ackermann was in charge of Deutsche Bank while another Shell director, Charles Holliday, heads the board of Bank of America. Also on Shell’s board are Vodafone Group chair Gerard Kleisterlee and Heineken director Hans Wijers.

This week they and the rest of Shell’s board will visit WA to see firsthand some of the growth projects that underpin the future for the world’s second-biggest listed oil and gas company. It is the full board’s first visit to Australia. read more

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Shell Oil Chief: Obama, Industry Have ‘Very Stressed Relationship’

Monday, 18 June 2012 23:30

Written by 

Shell Oil Company’s chief U.S. official congratulated the White House for accepting the “strategic importance” of oil resources off the Alaskan coast, but asserted that overall tensions between President Obama and the oil industry prevail. “I think you see a lot and you hear a lot about it being a very stressed relationship, and that’s real,” Shell Oil Company President Marvin Odum affirmed Sunday in an interview with Platts Energy Week TV. “We should just be honest about the fact that that’s real.” read more

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Corrosion seen in shut Motiva Texas crude unit -sources

Tue Jun 19, 2012 3:28am IST

(Reuters) – Extensive corrosion, that may require up to five months to repair, has been found inside Motiva Enterprises new 325,000 barrel per day (bpd) crude distillation unit at its 600,000 bpd Port Arthur, Texas, refinery, according to sources familiar with refinery operations.

The root cause of the corrosion, found in vessels and piping on the crude distillation unit (CDU), has not been determined, the sources said.

Damage from a fire on the CDU during an attempted June 9 restart was seen as negligible, the sources said. read more

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Gazprom to wind up Shtokman operator – paper

MOSCOW, June 19 | Tue Jun 19, 2012 1:56am EDT

(Reuters) – Russian group Gazprom is winding up the entity it created to operate the Shtokman gas field and may set up a new company as it prepares to sign a deal that will see Royal Dutch Shell join the project, Vedomosti reported on Tuesday.

Russian President Vladimir Putin last month urged partners in the project to make a final investment decision on its plan to extract gas from the Arctic seabed, delayed by years of talks over financing. read more

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