Posts Tagged ‘Bloomberg’

POSTING ON SHELL BLOG BY “Outsider”

How much did Shell pay Bloomberg to misquote their production forecasts?

It is unbelievable that two of Bloomberg’s journalists have put out a story, reprinted around the world again and again, which is completely false. Shell’s own forecast in the Deutsche Bank presentation is that they will be producing 3.2 MMBOE/day in 2012, while BP expect to produce 4.1 MMBOE/day.

Shell overtaking BP? I don’t think so. Some of the articles even attribute yesterday’s increase in Shell’s share price to the claim that Shell will increase their production by 30% – could it be that someone is deliberately trying to manipulate the share price? read more

Jan. 9 (Bloomberg) -- Royal Dutch Shell Plc remains committed to investing in Canadian oil sands after putting on hold the expansion of the second phase of the Athabasca project in Alberta, its chief executive officer said today.

Shell, based in The Hague, postponed a decision to expand its Athabasca oil-sands project in Canada. Valero Energy, the largest U.S. refiner, said in October it will defer projects to cut spending by about $500 million, or 17 percent.

“Crude hasn’t bottomed out as yet because we are getting so much bad economic news,” said Tony Regan, a Singapore-based independent energy consultant, who formerly worked for Royal Dutch Shell Plc and Nexant Inc.

Dec. 19 (Bloomberg) -- Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. are betting that Royal Dutch Shell Plc’s plan for untried floating gas-export terminals will spur billions of dollars in orders as the shipping market collapses.

Dec. 18 (Bloomberg) -- Petronet LNG Ltd. and Royal Dutch Shell Plc are expanding liquefied natural gas import capacity in India even as the global recession cuts demand and prices of the fuel decline.

Today, burning crops like corn, soybeans and sugar cane for fuel is policy in the U.S., Brazil and the European Union -- while almost 1 billion of the world’s 6.8 billion people are hungry, the most in a generation.

Meanwhile, competitors including Royal Dutch Shell Plc, StatoilHydro ASA, EnCana Corp. and Petro-Canada announced planned spending cuts or postponement of projects, following oil prices’ decline from its peak in July, the report stated.

Shell and Koch Industries Inc. of Wichita, Kansas, also hired four supertankers to hold oil in the U.S. Gulf Coast to take advantage of rising prices in the months ahead. They took Very Large Crude Carriers, or VLCCs, to move oil from the Middle East, said Bruce Kahler, a broker at Lone Star, R.S. Platou in Houston.

Chevron Corp., the world’s fourth- largest oil company, may sell some refineries as recessions in the world’s largest economies cut demand for gasoline and diesel, squeezing fuel-production margins.

The fire broke out at the refinery near Rotterdam at 1:20 p.m. local time today, said Wim van de Wiel, a spokesman for Europe’s biggest oil company, based in The Hague. Wendel Broere, also a company spokesman, said later the blaze was brought under control by 3:25 p.m. and the incident is now closed.

“Compliance with antitrust rules remains a top priority for management,” said Wendel Broere, spokesman for The Hague- based Royal Dutch Shell, Europe’s largest oil company, which was fined 10.5 million euros. The company hasn’t decided whether to appeal.

Dec. 3 (Bloomberg) -- Showa Shell Sekiyu K.K., the Japanese oil refining unit of Royal Dutch Shell Plc, will open its first battery-charging station as more electric cars take to the road.

Dec. 2 (Bloomberg) -- Nexus Energy Ltd., the Melbourne-based gas explorer set to start production next year, may develop a $3 billion gas liquefaction plant withRoyal Dutch Shell Plc should they find sufficient resources at Australia’s Crux project.

Cosan is the world’s largest producer of ethanol from sugar cane.

Pertamina has short-listed Royal Dutch Shell Plc, Exxon Mobil Corp. and Total SA among the companies, LNG Intelligence reported in November.