The plunge in crude oil prices has prompted a renewed push by Shell and private-sector Indian groups into the country's retail fuel market.
Financial Times
Renewed push by Royal Dutch Shell into India’s fuel market
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Oil groups expect $40 barrel
When most of the oil companies budgeted their projects, they were using $70, $80, even $100 a barrel for their cash flow calculations, he said. For those projects that have started, certainly they will try to complete them, but for those projects that have not started yet they will delay or cancel.
Shell loses Alaskan battle as court supports whales
Royal Dutch Shell has lost yet another battle to drill the deepest offshore Alaskan well after a federal appeals court ruled government approval of the plan violated environmental laws, writes Sheila McNulty.
Oil groups expect $40 barrel
The worlds national oil companies expect oil prices to fall further and will cancel most planned investment projects even at current levels, according to the head of a Chinese state-owned group.
Punting oil
Oil majors rarely hedge, rightly believing investors prefer unhedged exposure. Still, any company that forward-sold oil two months ago would have locked in prices twice today's.
Jorma Ollila speaks out
Jorma Ollila, the head of the European Round Table of Industrialists and chairman of Nokia and Royal Dutch Shell, told the Financial Times that large, healthy companies were deeply concerned about whether their suppliers could get credit.
Opec wants oil at $70-$90 a barrel
By Carola Hoyos
Published: November 17 2008 02:00 | Last updated: November 17 2008 02:00
The Opec cartel wants oil prices of $70-$90 a barrel, Chakib Khelil, Algeria’s energy minister and the group’s president, said yesterday as he suggested the group would try to defend this level with further production cuts.
The group, which control’s 40 per cent of world supplies, will next meet this month in Egypt and in Algeria in December. It is already cutting production to adhere to its decision to cut output by 1.8m barrels a day from November 1.
Asians fail to join class action claims
According to Goal, almost $12bn in settlements, to which shareholders were entitled, was not reclaimed through class actions from 2000 to 2007. The list includes settlements against Enron, Worldcom, Parmalat and Royal Dutch Shell.
East to crack the west’s grip on refining
While refineries in Europe and the US in particular suffer from a collapse in fuel demand, and big integrated oil companies such as BP and Royal Dutch Shell sell one facility after another, Asia and the Middle East are emerging as the new centres of the industry.
Bad publicity can be trigger for change
Headline disasters, from Shell and its plans to dispose of the Brent Spar oil storage facility, to the outbreak of bird flu at a Bernard Matthews turkey farm in 2007, have forced companies to look at the social and environmental implications of their actions and to develop an approach to reduce their impact.
Oil quicksands
Suncor, the biggest oil sands producer, has pruned its budget by a third even as investors have slashed its value by almost two-thirds. Others, such as Royal Dutch/Shell, Nexen and EnCana are also re-evaluating the future. The frenzied rate of investment that had turned a small Canadian town such as Fort McMurray into a sub-Arctic El Dorado with rapid inflation and scarce housing is unlikely to continue without more certainty on crude prices.
Collapse in demand may halt refinery construction as margins fall
More than four out of five refinery construction projects face cancellation as the worldwide collapse in fuel demand wipes out all but those developments with strong government backing.
Crash in oil exploration puts world ‘on bad path’
Fatih Birol, chief economist at the IEA, said: "We hear almost every day about a project being postponed. This is a major problem."
Oil hits 20-month low at $56 a barrel
Crude oil sank to a fresh 20-month low even as the International Energy Agency warned of a potential global supply crisis due to delays in investment arising from price weakness and the credit squeeze.
What lower oil prices mean for the world
The last time demand dropped this much was in 1981, on the eve of the recession that was until now known as the worst recession since the Great Depression.
Total says oil price fall will not halt big energy projects
Royal Dutch Shell last week said it would defer a decision on expansion of an oil sands project, while investments have also been put on hold by Britain's BG and Norway's StatoilHydro.
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