Gulf of Mexico

DELAYED GRATIFICATION: Shell’s Deepwater Drilling Dreams Take a Dip in the Gulf

May 10th, 2025

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Because who needs a planet when you’ve got Perdido?

Shell, the world’s favourite carbon maximalist and corporate kleptomaniac of climate sanity, just hit a snag in its tireless quest to extract every last drop of profit from the deepwater depths of the Gulf of Mexico.

Two of Shell’s newest wells in the Great White unit—part of its beloved Perdido complex, a sort of offshore altar to fossil-fuel worship—won’t be coughing up crude until the end of the year. That’s a few months behind schedule, which in oil-industry speak means “Q4 tantrum season” for shareholders. read more

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Shell Sinks Another Oil Field Into the Gulf of America, Calls It “Lower-Carbon”

Apr 9th, 2025

by admin.

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Deep Water, Deeper Denial: Shell Touts New Oil Bonanza While Pretending It’s a Climate Solution

BREAKING: Shell has struck again — not in court, not in a human rights investigation, but 7,500 feet under the Gulf of Mexico, where the planet’s least-needed project just came online: Dover, a lovely little climate time-bomb producing up to 20,000 barrels of oil equivalent per day.

Yes, Shell is back at it, extracting hydrocarbons with a smile, calling it “lower carbon” because… well, it’s not from coal, and that apparently counts for something in ESG bingo.

“Shell continues to unlock more value from the prolific basins in our portfolio,” read more

Shell Celebrates Innovation: Pumps More Oil to the Detriment of Our Planet

Aug 14th, 2024

by John Donovan.

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…let’s give a standing ovation to Shell for its unrelenting dedication to Earth’s destruction in the name of progress and shareholder value. Keep pumping Shell, the apocalypse isn’t going to fuel itself.

Posted by John Donovan: 14 Aug 2024

Shell, the pinnacle of environmental stewardship (not), has proudly announced its latest endeavour in the Gulf of Mexico. According to Shell, they’ve given the green light to inject water into the Vito field to suck out even more precious black gold. Ah, how heartwarming — pumping fossil fuels, the ultimate sin stock, from beneath the sea floor.

In a statement dripping with corporate charm, Shell elucidates how this waterflood project, slated for 2027, will magnanimously boost their recoverable resource volume by a staggering 60 million barrels of oil equivalent. Bravo, Shell! Truly a masterpiece of prioritizing profits over planet. They even classify their “resources” with such love — 2P, 2C, and absolutely zero Fs given about sustainability. read more

Shell Shocked! Big Money Dumps Oil Stocks

Jul 1st, 2024

by John Donovan.

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Posted by John Donovan: 01 July 2024

In a move that’s more shocking than discovering water is wet, a growing horde of European institutional investors are ditching oil and gas stocks like they’re yesterday’s trash. The latest to jump on this bandwagon of eco-consciousness is Denmark’s largest commercial pension fund, PFA, which manages a whopping $110 billion. They’ve decided to offload their $170 million stake in Shell, citing the company’s pathetic attempt at renewable energy investment. read more

Shell’s Seafaring Carnival of Fossil Fools: A Masterclass in Eco-Friendly Hypocrisy

May 3rd, 2024

by John Donovan.

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Posted by John Donovan: 3 May 2024

In a stunning display of eco-friendly acrobatics, Shell and its cohorts are ramping up offshore drilling in the Gulf of Mexico, reassuring us that it’s all for the noble cause of emitting slightly less greenhouse gases. Apparently, drilling in the ocean is like a diet version of environmental destruction.

The pièce de résistance? A colossal floating platform named Appomattox, proudly owned by Shell, bobbing about 80 miles off Louisiana’s coast like a monument to human hubris. It’s a real-life version of “Waterworld,” minus Kevin Costner’s rugged charm. read more

Shell places U.S. Gulf of Mexico assets up for sale -sources

Jul 21st, 2022

by John Donovan.

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REUTERS

Shell places U.S. Gulf of Mexico assets up for sale -sources

Reuters: David French and Ron Bousso: Publishing date: Jul 20, 2022

NEW YORK/LONDON — Shell is exploring a sale of its stakes in two U.S. Gulf of Mexico oil and gas developments which could raise as much as $1.5 billion for the energy major, people familiar with the matter said on Wednesday.

Potential divestments of some aging assets would allow the company to focus on newer and larger fields around the world, including its giant Whale development in the Gulf which is expected to start production in 2024, the sources said. read more

Shell reverses billions in write-offs as oil prices remain high

Jul 8th, 2022

by John Donovan.

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yahoo!finance

Shell reverses billions in write-offs as oil prices remain high

August Graham: Thu, 7 July 2022, 9:13 am·

Oil giant Shell is to reverse previous write-offs of up to £3.8 billion this quarter after energy prices soared.

The company said it expects to reverse post-tax impairments of between 3.5 billion dollars (£2.9 billion) and 4.5 billion dollars (£3.8 billion).

It came as the business revised what it thinks it will be paid for its oil and gas over the coming years.

It told shareholders on Thursday: “In the second quarter 2022, Shell has revised its mid- and long-term oil and gas commodity prices, reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals.

“This resulted in a review of Shell’s upstream and integrated gas previously impaired assets.”

Shell also said it will produce more gas during the second quarter of the year than previously thought amid the global energy crisis.

The business told investors that it expects to extract between 930,000 and 980,000 barrels of oil equivalent per day from its integrated gas operations.

It is an upgrade from its previous estimate of between 910,000 and 960,000, which Shell released in early May.

It also upgraded production from its upstream operations. They had previously been expected to fall from the levels seen in the first quarter due to maintenance in the Gulf of Mexico. read more

Was Shell’s response to Cambo reasonable?

Dec 18th, 2021

by John Donovan.

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Was Shell’s response to Cambo reasonable?

SOME THOUGHTS FROM A LONG-TERM CONTRIBUTOR TO THIS WEBSITE, A RETIRED SENIOR SHELL OFFICIAL, BILL CAMPBELL

Given that US and China dominate the world’s CO2 emissions you have to ask the question was the Shell response to Cambo reasonable?

UK with its total CO2 emissions just under 3% of the World with the oil and gas sector in the UK contributing circa 25% of UK emissions, but with transport and electricity generation accounting for just over 52%, it makes you wonder since the UK may have to import more oil in the near to medium future (increasing transport emissions) in so doing. read more

Over 80% of oil output in Gulf of Mexico still offline a week after Ida

Sep 7th, 2021

by John Donovan.

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REUTERS

Over 80% of oil output in Gulf of Mexico still offline a week after Ida

By Stephanie Kelly: September 6, 202110:33 PM BST NEW YORK, Sept 6 (Reuters) – More than 80% of oil production in the Gulf of Mexico remains shut in after Hurricane Ida, a U.S. regulator said on Monday, more than a week after the storm made landfall and hit critical infrastructure in the region. Royal Dutch Shell Plc (RDSa.L), the largest U.S. Gulf Coast producer, on Sunday began redeploying staff to its Enchilada and Salsa platforms. FULL ARTICLE

Shell Invests in the Whale Development in the Gulf of Mexico

Jul 26th, 2021

by John Donovan.

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(Information from WIKIMEDIA COMMONS: The above Shell logo image is in the public domain because its copyright has expired and its author is anonymous.)

CISION PR Newswire

Shell Invests in the Whale Development in the Gulf of Mexico

NEWS PROVIDED BY Shell Offshore Inc. Jul 26, 2021, 08:00 ET

HOUSTON, July 26, 2021 /PRNewswire/ —=&0=&Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, today announces the final investment decision (FID) for Whale, a deep-water development in the U.S. Gulf of Mexico that features a 99% replicated hull and an 80% replication of the topsides from our Vito project.

“Whale is the latest demonstration of our focus on simplification, replication and capital projects with shorter cycle times to drive greater value from our advantaged positions,” said Wael Sawan, Shell Upstream Director. “We are building on more than 40 years of deep-water expertise to deliver competitive projects that yield high-margin barrels so that we are able to meet the energy demands of today while generating the cash required to help fund the development of the energy of the future.” read more

Shell’s 2020 Write Downs Could Soar To $22 Billion

Dec 22nd, 2020

by John Donovan.

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Shell’s 2020 Write Downs Could Soar To $22 Billion

By Charles Kennedy – Dec 21, 2020, 3:30 PM CST

Shell warned the market on Monday that it would book up to $4.5 billion more in post-tax charges in the fourth quarter, which would take the supermajor’s combined write-downs to over $22 billion in the year in which Big Oil significantly cut the value of their oil and gas assets.

Shell expects post-tax charges of between $3.5 billion and $4.5 billion in relation to impairments, asset restructuring, and onerous contracts in the fourth quarter, the company said in its Q4 2020 update note today. The charges will include partial impairment of the Appomattox asset in the U.S. Gulf of Mexico due to subsurface updates, charges in the oil products division, including such related to the announced transformation of the refinery portfolio, as well as charges from onerous contracts in the Integrated Gas division. read more

Shell’s warning signals pain not yet over for oil majors

Dec 22nd, 2020

by John Donovan.

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Shell’s warning signals pain not yet over for oil majors

Dec. 21, 2020 12:45 PM ETRoyal Dutch Shell plc (RDS.A)By: Carl Surran, SA News Editor17 Comments

Royal Dutch Shell’s (RDS.A -5.7%) update, saying it expects to write down the value of its assets by as much as $4.5B and warning of another set of poor earnings in Q4, is the first indication of another tough quarter for oil and gas producers that continue to struggle with weak demand as COVID-19 lockdowns hit economies hard.

Shell says its oil and gas production business should report a third straight quarterly loss while Q4 results from its trading operations – a bright spot earlier in the pandemic amid volatile oil prices – would come in “significantly lower” than in Q3.

The S&P energy sector (XLE -3.8%) is today’s worst market performer, and Big Oil names are getting trounced but have moved off day’s lows: XOM -2.9%, CVX -1.9%, BP -5.7%.

“The indicative guidance looks disappointing, particularly in the context of the strong run Shell has had in recent weeks,” RBC analyst Biraj Borkhataria says.

Cowen analysts maintain their Buy rating and $41 price target for Shell shares, as the reduced cash flow outlook is offset by today’s announced divestment, and as such the analysts retain their outlook that debt will hit target levels around year-end 2021 to enable buybacks in 2022.

Shell says the anticipated $3.5B-$4.5B writedown includes an impairment of its Appomattox deepwater oil and gas project in the Gulf of Mexico, as well as charges related to its refining operations and onerous gas contracts.

The latest writedown follows Shell’s $16.8B writedown in Q2 and a sharp cut in its price outlook.

Shell raises dividend as retail boost drives confidence

Oct 29th, 2020

by John Donovan.

1 comment

Shell raises dividend as retail boost drives confidence

Shell also plans to shed up to 9,000 jobs, or more than 10% of its workforce.

By Ron Bousso, Shadia Nasralla: 29 October 2020

LONDON (Reuters) – Royal Dutch Shell on Thursday raised its dividend after easily beating quarterly profit forecasts and outlined plans to shrink its oil and gas operations as it presses forward with a transition to low-carbon energy.

The Anglo-Dutch company hit record earnings from its vast retail division, despite the impact on demand of the COVID-19 pandemic, which it said continued to generate “significant uncertainty”. read more

FROM LEADER TO LAGGARD

Oct 1st, 2020

by John Donovan.

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FINANCIAL TIMES

Shell slims down to shape up for the energy transition

Anjli Raval, Senior Energy Correspondent

…the Anglo-Dutch group has been forced into previously unthinkable moves, change and scrutiny of its capital allocation plans mount, is scrambling to come up with an updated plan. In the meantime, it is cutting costs and streamlining.

On Wednesday it offered a glimpse into Project Reshape, its organisational restructuring in which up to 9,000 jobs will be cut from its 83,000-strong workforce to save $2.5bn a year. read more

Exclusive: Shell launches major cost-cutting drive to prepare for energy transition

Sep 21st, 2020

by John Donovan.

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Exclusive: Shell launches major cost-cutting drive to prepare for energy transition

By Ron Bousso: SEPTEMBER 21, 2020

LONDON (Reuters) – Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters.

Shell’s new cost-cutting review, known internally as Project Reshape and expected to be completed this year, will affect its three main divisions and any savings will come on top of a $4 billion target set in the wake of the COVID-19 crisis. read more

‘Stranded Assets’ Risk Rising With Climate Action and $40 Oil

Sep 18th, 2020

by John Donovan.

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‘Stranded Assets’ Risk Rising With Climate Action and $40 Oil

By Laura Hurst | Bloomberg:

September 18, 2020 at 7:55 a.m. GMT+1

What had seemed like an abstract debate about leaving oil, gas and coal in the ground to fight climate change has suddenly become real. Environmental activists have long fought for lower fossil-fuel production. Now, with the pandemic crippling economies and reducing energy use and prices, drillers and miners are coming to grips with projects that are no longer viable. Some companies are even abandoning investments, leaving deposits worth billions of dollars in the ground to languish as so-called “stranded assets.” While environmentalists applaud, fund managers, banks and regulators worry that project financing could sour and collateral become worthless. read more

30 November 2023: Posted by John Donovan

The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more

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Deep Water, Deeper Denial: Shell Touts New Oil Bonanza While Pretending It’s a Climate Solution

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…let’s give a standing ovation to Shell for its unrelenting dedication to Earth’s destruction in the name of progress and shareholder value. Keep pumping Shell, the apocalypse isn’t going to fuel itself.

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Reuters: David French and Ron Bousso: Publishing date: Jul 20, 2022

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August Graham: Thu, 7 July 2022, 9:13 am·

Oil giant Shell is to reverse previous write-offs of up to £3.8 billion this quarter after energy prices soared.

The company said it expects to reverse post-tax impairments of between 3.5 billion dollars (£2.9 billion) and 4.5 billion dollars (£3.8 billion).

It came as the business revised what it thinks it will be paid for its oil and gas over the coming years.

It told shareholders on Thursday: “In the second quarter 2022, Shell has revised its mid- and long-term oil and gas commodity prices, reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals.

“This resulted in a review of Shell’s upstream and integrated gas previously impaired assets.”

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Over 80% of oil output in Gulf of Mexico still offline a week after Ida

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By Laura Hurst | Bloomberg:

September 18, 2020 at 7:55 a.m. GMT+1

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