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Oil Prices Could Collapse To $20

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By Tyler Durden

Extracts from extracts…

Could oil prices collapse to $20? 

The short answer is ‘yes.’

We believe that crude oil prices could fall further unless global oil production is reduced. As shown in Table 2, we estimate that the global oil market could be oversupplied by roughly 920,000 bpd in 2016. The key assumptions are year-over-year growth in global demand of 1.2 million bpd, Saudi Arabia, Iraq and Libya hold production at current levels, Iran ramps up production at moderate pace over the course of the year and the U.S. rig count remains at current levels. 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 cuts 2015 capex, sees downstream downturn

Screen Shot 2015-04-30 at 09.37.24Shell cuts 2015 capex, sees downstream downturn

London (Platts)–30 Apr 2015

* Capex reduced by more than $2 billion
* Decision on Majnoon development pushed back to 2017
* CFO says refining margins already worsening

Shell said Thursday it had reduced its expected 2015 capital expenditure to $33 billion from previous guidance of a little more than $35 billion as the company continues to adjust its business to the lower oil-price environment.

Shell, releasing its first-quarter results, also said it continued to reduce its operating costs and capital spending, with Q1 operating expenditure down by $1.1 billion year on year. 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.

Oil companies offer to cut 2015 spending in Iraq

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Screen Shot 2015-02-18 at 13.17.14* Iraq seeks to stem losses from falling oil prices

* Calls on firms to reduce development costs

* Baghdad seeks amended contracts to “share risk”

* Says companies should maintain output despite changes

MR_Story By Ahmed Rasheed

BAGHDAD, March 12 ( Reuters ) – Oil companies have proposed millions of dollars of cuts in development spending in Iraq, a senior oil ministry official said, after Baghdad told them low oil prices and its fight against Islamic State had made payments difficult. 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 signs $11 billion deal to build petrochemicals plant in Iraq

Screen Shot 2015-01-06 at 21.26.38FROM REUTERS

Shell signs $11 billion deal to build petrochemicals plant in Iraq

(Reuters) – Royal Dutch Shell (RDSa.L) signed deal with Iraq worth $11 billion (7 billion pounds) to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said on Wednesday.

Esawi told a press conference in Baghdad the Nibras complex, which is expected to come on line within five to six years, would make Iraq the largest petrochemical producer in the Middle East. The factory’s expected output was not immediately clear.

Shell, which is one of the main oil majors operating in south of Iraq, signed a memorandum of understanding with the ministry for the project in 2012. 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.

Oil prices down by almost 50%

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From an article published by Bloomberg News Friday 2 Jan 2015

Oil dropped to the lowest in more than five and a half years amid growing supply from Russia and Iraq and signs of manufacturing weakness in Europe and China.

Oil output in Russia and Iraq surged to the highest levels in decades in December, according to data from both countries’ governments.

Prices slumped 46 percent in New York in 2014, the steepest drop in six years and second-worst since trading began in 1983…

The European oil fell 48 percent last year, the second-biggest annual loss on record behind a 51 percent tumble in the 2008 financial crisis. 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 CEO on global turmoil’s impact

Screen Shot 2014-09-07 at 21.14.49Screenshots from a Fox Business video of an interview with Royal Dutch Shell CEO Ben van Beurden on 4 Sept 2014 shows the uncertainty that surrounds Shell. Mr van Beurden bluntly made it clear at the May 2014 Shell AGM that Shell’s priority is what is in the economic interests of Shell shareholders, not geopolitical concerns i.e. the invasion of Crimea. That explains why he happily bowed to Putin days after the annexation. Whatever the spin, ethics and moral issues are ruthlessly put to one side. The lack of scruples by companies such as Shell, has encouraged the Putin regime. Driven by the same motive, access to hydrocarbon reserves, Shell also connived with Hitler in his territorial ambitions. More recently, Shell traded with Iran despite US sanctions and Shell spin to the contrary. Like in relation to Shell’s claimed business principles, it is Shell’s deeds, not the mixed messages, which count. 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.

Why doesn’t Shell sue Donovan for libel?

Screen Shot 2014-09-07 at 15.49.41Such deliberate misinformation (propaganda, to put it politely) is also totally at variance with Shell’s claimed core business principles. This proves beyond any doubt that the media and the public should not believe anything Shell says. The company even lies to itself.

By John Donovan

Why doesn’t Shell sue Donovan for libel?

I feel sure that this is a question that many visitors to this website have probably asked themselves many times.

It is a question that Royal Dutch Shell put to itself in July 2009. 

Below is an extract from an authentic confidential Shell internal document dated 08 July 2009 in which this very question was raised in relation to “the Donovan’s.” Shell lawyers have redacted names shown on the “Confidential Focal Point”document, other than the names of my late father and myself. A series of questions are posed and then answered, to provide a contingency script if certain anticipated questions were raised by the news media, or at the Shell AGM.  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.

BP and Shell keep a watchful eye on events in Iraq

Screen Shot 2014-01-30 at 00.47.49Extracts from a This Is Money/Daily Mail article by Rob Reed published 27 June 2014 under the headline: “BP and Shell keep a watchful eye on events in Iraq as violence continues to escalate in the region”

The upward pressure on oil prices since terror group ISIS began its horrific offensive has been echoed by even bigger movements in the share price of firms with an Iraqi presence. The two British supermajors with a foot in Iraq are BP and Shell, the former operating the vast Rumaila field and the latter developing sister prospect Majnoon. Both have removed non-essential staff but say their operations, in the to-date peaceful oil-rich south of the country, have been unaffected. If Baghdad were to be overrun, that would be a different matter, but oil industry types are quietly hopeful that it won’t come to that. 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.

Royal Dutch Shell shameful record of appeasement

By John Donovan

For nearly a hundred years the Royal Dutch Shell Group has appeased and collaborated with evil regimes including Nazi Germany, Nigeria, Brunei, Saudi Arabia, Libya, Iran, Iraq under Saddam Hussein, Apartheid South Africa and with Putin of Russia, despite his annexation of Sakhalin2 and Crimea. Anything to earn a buck irrespective of ethics, human rights abuses and massive corruption. Astonishingly, Shell claims to operate with a set of business principles. Shell’s latest CEO, Ben van Beurden, is shown bowing to Putin on 18 April 2014,  soon after Russia had used force to annexe Crimea. No shame. No morals. Its just business. It is what Ben van Beurden describes as Shell’s “economic interests.”  Following in the foot steps of the founder of the Royal Dutch Shell Group, the ardent Nazi, Sir Henri Deterding.  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-led consortium boosts production at Iraq’s prized Majnoon oil field

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By Associated Press, Published: October 6

BAGHDAD — An Iraqi official says a consortium led by Royal Dutch Shell has boosted production at a prized oil field in the country’s south to 175,000 barrels a day, speaking at a ceremony formally inaugurating commercial production.The head of the state-run South Oil Company, Dhia Jaafar, said Sunday that Shell and its partner, Malaysia’s state-run Petronas, plan to increase production from the nearly 12.5 billion-barrel Majnoon field to more than 200,000 barrels per day in early 2014.

It is located in Basra province, about 550 kilometers (340 miles) southeast of Baghdad.

The deal was awarded in Dec. 2009 with a pledge to reach 1.8 million barrels per day over 10 years. Then, production rated about 45,000 barrels per day. The consortium had to rehabilitate existing infrastructure and add new facilities.

Copyright 2013 The Associated Press. All rights reserved.

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.

Iraq’s 2013 oil target within reach, 2014 to disappoint

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Fri Jun 21, 2013 10:39am EDT

* Production flatlines at 3 mln bpd in first half

* Target of 3.4 mln by end year “doable”

* New oilfields due on stream include Shell’s Majnoon

* 2014 goal of 4.5 mln bpd seen as unachievable

By Peg Mackey and Alex Lawler

LONDON, June 21 (Reuters) – Iraq’s oil output target for 2013 is still within reach, even with flows stuck at 3 million barrels a day during the first half of the year, but a lofty goal for 2014 will be far more difficult to meet, oil executives and officials say. 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 Start Iraq Oil Output Amid Plans for Saudi Investments

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By Maher Chmaytelli and Nayla Razzouk: May 16, 2013

Royal Dutch Shell Plc (RDSA) will start producing crude at Iraq’s Majnoon oil field as early as next month and plans to increase energy investments in Saudi Arabia, its regional vice president said.

Output from Majnoon, one of Iraq’s largest oil fields, will start “around mid-year” and increase to 175,000 barrels a day by the end of 2013, Mounir Bouaziz said in an e-mailed response to questions. In Saudi Arabia, Shell is holding talks with officials on a project to develop natural gas from the kingdom’s Kidan field in the Rub al-Khali, or Empty Quarter, he said. 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 Starts World’s Largest Gas-Capturing Plant in Iraq

Screen Shot 2013-03-05 at 14.17.28 By Kadhim Ajrash & Nayla RazzoukMay 1, 2013 1:32 PM GMT+0100

Royal Dutch Shell Plc. (RDSA) and Mitsubishi Corp. (8058) started operations at a $17-billion joint venture to capture gas from some of Iraq’s largest oil fields.

The Basrah Gas Co. project, the biggest of its kind, captures so-called associated gas flared from the southern oil fields of Rumaila, West Qurna-1 and Zubair, according to a statement on Shell’s website. Iraq’s state-owned South Gas Co. holds a 51 percent stake in the 25-year venture, while Shell owns 44 percent and Mitsubishi the remainder. 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.

Iraq, Royal Dutch Shell kick off major gas project in oil-rich south

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By Associated Press, Updated: Wednesday, May 1, 1:16 PM

BAGHDAD — Royal Dutch Shell says it has officially kicked off a multibillion-dollar project to tap natural gas in Iraq’s south.The $17 billion joint venture will gather, process and market associated gas, a by-product of producing oil, from three oil fields in the petroleum-rich province of Basra.

Iraq holds 51 percent in the 25-year partnership while Shell holds 44 percent and Japan’s Mitsubishi holds 5 percent. The gas will be used mainly for domestic energy needs, but there is also an option for exports. Wednesday’s announcement was published on Shell’s website. 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, Mitsubishi Will Start Iraq Plant on April 15

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By Khalid Al-Ansary and Nayla Razzouk on April 11, 2013

Royal Dutch Shell Plc (RDSA) and Mitsubishi Corp. (8058) will start capturing gas from Iraq’s oil fields next week in a $17 billion project known as Basra Gas Co.

“Basra Gas Co. will start operations officially on April 15,” said Ali Hussain Khudayir, director general of South Gas Co., which represents the Iraqi government’s controlling stake in the Basra Gas Co. venture.

The plant will produce 400 million cubic feet (11 million cubic meters) a day from next week, climbing to 2 billion cubic feet a day by 2017, Khudayir said on March 27. The facility will capture so-called associated gas from the Zubair, Majnoon and West Qurna-1 oil fields in southern Iraq. 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 did not sign Kurdish deal, Baghdad says

: Sept 28, 2012

Baghdad has denied reports Royal Dutch Shell will become the latest oil major to set up shop in the autonomous Kurdish north.

“We don’t have any discussions with the Kurdish regional government [KRG] about working in the region,” a statement released by the office of Iraq’s deputy prime minister for energy quotes Hans Nijkamp, a Shell vice president, as saying.

According to the statement, Mr Nijkamp also described as “inaccurate” reports that the oil major was set to follow its competitors ExxonMobil, Total and Chevron into the autonomous north. 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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