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BP spells out losses from hurricanes

Financial Times: BP spells out losses from hurricanes

“Royal Dutch Shell, BP’s Anglo-Dutch rival, has suffered extensive damage at its Mars platform, of which BP also owns 28.5 per cent. Shell hopes to have 60 per cent of its usual 450,000 barrels a day of production back on line by the end of the year, though it may not be producing from its Cognac field again until next year. Mr Lanstone calculates that Shell is likely to have lost at least 100,000 barrels a day of production this quarter because of the hurricanes, and 60,000 barrels a day of refined output.”

Wednesday 5 October 2005

By Thomas Catan and Carola Hoyos

Published: October 5 2005

BP on Tuesday became the first big oil company to put a price on the hurricanes that have ravaged the Gulf of Mexico in recent weeks.

Its loss of 145,000 barrels of oil equivalent a day in production was double the amount expected by some analysts, and means the company will miss its production target of 4.1m to 4.2m barrels of oil equivalent a day, set out in February.

The problems at the world’s second-biggest oil company by market value sent shock waves through the industry, deepening concern of the impact on rivals. 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.

For Oil Firms, Prices May Ease Storm’s Blow

The Wall Street Journal: For Oil Firms, Prices May Ease Storm’s Blow

“Shell’s Mars field — which cost $1 billion in initial development costs — along with other fields that account for some 40% of its production in the Gulf, may be out of commission well into next year. Nearly two weeks after the storm, the company had restored a little more than a third of its 450,000 barrels of oil equivalent to a day of production, according to a Shell update last week.”

Monday 19 September 2005

Higher Margins Are Making Up
For Drop in Production Volume;
Many Are Still Assessing Damage

By CHIP CUMMINS in London and RUSSELL GOLD in Austin, Texas
Staff Reporters of THE WALL STREET JOURNAL
September 19, 2005; Page C1

The rigs, pipelines and refineries of most of the world’s largest publicly traded oil companies were hammered by Hurricane Katrina. But sorting out the storm’s impact on the energy industry’s bottom line isn’t as simple as tallying up the wreckage. 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 provides update on operational impact of Hurricane Katrina

Oil & Gas Journal: Shell provides update on operational impact of Hurricane Katrina

Friday 9 Sept 05

Offshore staff

(Gulf of Mexico)-Shell Oil says that production is now flowing and ramping up from all Shell-operated assets in the Western GoM that were shut in because of Hurricane Katrina. Production has resumed at Auger, Brutus, Bullwinkle, Cougar, Enchilada, North Padre Island, and West Cameron 565. In the Eastern GoM, the company’s Fairway asset and Yellowhammer Gas Processing Plant near Mobile Bay are operating normally.

Shell’s net GoM production from Shell-operated and outside-operated fields for the first half of 2005 averaged 450,000 boe/d. Shell’s net GoM production has returned to 160,000 boe/d. Significant efforts continue as Shell makes a comprehensive assessment of its hurricane-impacted assets (Mars, Ursa, Cognac, and West Delta 143) as well as of pipelines and other related onshore processing/handling facilities that transport and receive production. 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.

BLOOMBERG: Shell’s Mars Field, Nearby Rigs May Be Shut Till 2006

BLOOMBERG: Shell’s Mars Field, Nearby Rigs May Be Shut Till 2006

FRIDAY 9 SEPT 2005

Sept. 9 (Bloomberg) — Royal Dutch Shell Plc, the biggest oil producer in the U.S. Gulf of Mexico’s deep waters, said output from the Mars field and nearby sites may be shut for the rest of the year because of damage from Hurricane Katrina.

Resuming production from the Mars, Ursa, Mensa and Cognac areas in the Gulf, which account for about 40 percent of its normal supply in the area, may not be “feasible during the fourth quarter, depending on options available for recovery,” according to a statement today from the company, based in The Hague. 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.

Assessing Damage to Oil Platforms In Gulf of Mexico Proving Difficult

The Wall Street Journal: Assessing Damage to Oil Platforms In Gulf of Mexico Proving Difficult

Posted Tuesday 6 Sept 2005

By STEVE LEVINE
Staff Reporter of THE WALL STREET JOURNAL
September 5, 2005 4:59 p.m.

Efforts to assess damage from Hurricane Katrina to the deep-water Gulf of Mexico platforms has been significantly slowed because helicopters are having troubling refueling at sea, leaving the giant platforms out of reach, said a senior official with a company involved with the damage-assessment and -repair effort.

The situation has been compounded by the destruction of helipads in Venice, La., forcing companies to depart from a back-up facility 150 miles to the west. 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.

£1 litre looms as US oil firms target European fuel supplies

The Sunday Times: £1 litre looms as US oil firms target European fuel supplies

“Aerial photographs of Shell’s Mars platform, which produces 220,000 barrels of crude per day, showed collapsed equipment on its deck.”

Sunday 4 September 2005

By Carl Mortished, International Business Editor

THE economic damage from Hurricane Katrina will soon be felt in Britain with petrol prices possibly soaring as high as £1 per litre.

Flood-damaged American oil companies are expected to turn to European refineries for alternative supplies of road fuel, forcing up the price of petrol and diesel in Britain.

Concern that a tenth of America’s refining capacity lies under water sent the wholesale price of petrol rocketing on the NYMEX futures exchange in New York and yesterday shock waves raced across the Atlantic and buffeted Rotterdam. 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.

THE NEW YORK TIMES: Gas Prices Surge as Supply Drops

THE NEW YORK TIMES: Gas Prices Surge as Supply Drops

“The Mars platform of Royal Dutch Shell – which alone accounts for 15 percent of the gulf’s oil production – is “severely damaged,” the Coast Guard said in a release.”

By JAD MOUAWAD and SIMON ROMERO

Published: September 1, 2005

For the first time since the 1970’s, gasoline lines reappeared yesterday in some corners of the country.

Three days after Hurricane Katrina dealt a devastating blow to the nation’s largest energy hub, the worst-case possibility was quickly becoming a reality: gasoline prices surging well above $3 a gallon, with some consumers complaining of price gouging; service stations in a handful of locations running out of gas; drivers rushing to fill their tanks, only to find themselves waiting in line with others. 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.

Lloyds List: Shell to begin life on Mars after respite in ocean conditions

Lloyds List: Shell to begin life on Mars after respite in ocean conditions

Martyn Wingrove

May 10, 2005

SHELL is set to begin repairing flexjoints on its oil and gas risers on its Gulf of Mexico tension-leg platforms in June, three months behind schedule because of ocean conditions.

Shell Exploration Production Co has been forced to delay repair work on the Mars TLP because of strong loop currents in the region, but is hoping to start work on the Auger TLP instead in June.

Loop currents, caused by the Gulf Stream whipping around the area, have been particularly strong in the Mars basin in the Mississippi Canyon area this year, delaying repairs to the oil and gas export risers in the Mars TLP. 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.

THE WALL STREET JOURNAL: Shell To Delay Repairs To Mars Tension Leg Platform

THE WALL STREET JOURNAL: Shell To Delay Repairs To Mars Tension Leg Platform

DOW JONES NEWSWIRES

May 3, 2005

NEW YORK — Royal Dutch/Shell Group (RD,SC) unit Shell Exploration & Production Co. has for the second time delayed repairs planned for its Mars oil and gas platform in the Gulf of Mexico.

In a press release Tuesday, Shell attributed the delays to “loop currents” – water flows that can delay oil industry activity in the Gulf. Repairs are to be made to the flexijoints. Leaks in the joints forced the platform to shut down for a month a year ago. 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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