News and information on Shell Plc
Written by Bloomberg – 02/11/2016 4:16 pm
Royal Dutch Shell Plc, the world’s second-biggest oil company by market value, thinks demand for oil could peak in as little as five years.
“We’ve long been of the opinion that demand will peak before supply,” Chief Financial Officer Simon Henry said on a conference call on Tuesday. “And that peak may be somewhere between 5 and 15 years hence, and it will be driven by efficiency and substitution, more than offsetting the new demand for transport.”
Mr Van der Veer (shown right) is no fan of this website. In January 2008, as was reported in The Times, we published a leaked email from him in which he forecast that world demand for oil and gas would outstrip supply within 7 years. Events has shown that he was talking nonsense on that occasion as well.By John Donovan
The fuelfix headline encapsulated the theme of the speech given last Thursday by former Royal Dutch Shell CEO Jeroen van der Veer at the KPMG Global Energy Conference in Houston:
Former Shell CEO: Safety must come first. And second. And third.
This qualifies as sheer hypocrisy on his part.
On his watch, Shell had an absolutely atrocious safety track record for which he was publicly criticised.
(Shell CEO Jeroen van der Veer “hurt” by criticism: 3 Sept 2007)
On his watch, even lifeboats serving Shell North Sea platforms were found to be unseaworthy.
John
The following link provides access to information and graphs that may be of interest to some of your readers.
PDF] “The End of Oil”
It shows, for example that it took almost 150 years for the world to produce and consume its first trillion bbls of oil. Today, at current rates of consumption, we shall consume the next trillion bbls in a little over 30 years. Needless to say, consumption and flaring of natural gas will follow the same trend.
In that same time period, about 150 years, the carbon dioxide levels of the Earth’s atmosphere doubled. Suffice it to say, in the next 30 years we shall most probably dump as much carbon dioxide into the atmosphere as was dumped in the last 150 years.
Given the advances in drilling technologies it is highly probable that the trend will continue for another 30 odd years, at least. So, in the next 60+ years we can look forward to a doubling of the atmospheres current CO2 levels. That is bad news. One can only imagine what this portends for climate warming, i.e., a continuation and acceleration.
Here is the recipe for the greatest disaster ever. What cheap and abundant oil created, Peak Oil will destroy; our failure to invest in alternatives 10 or 20 years ago is about to fall on us.
Collectively, the world's Big Five (Chevon, Exxon Mobil, BP PLC, Royal Dutch Shell and Conoco Phillips) raked in $44.4 billion, up 58% from a year ago in the third quarter. Yet, despite being richer than more than half the world's economies combined, these giants are now warning they're bracing for the fallout of a global economic meltdown. One, I might add, they helped to ignite by limiting production when demand was at a high, and peak-oil speculators were laughing all the way to the bank.
Posted by Keith Johnson
Crude oil futures continued down on Friday, spooked by the dim outlook for the U.S. economy. Thats precisely what makes it likely oil prices will rebound next year.
A tough run upstream (AP)
Big oil companies are already finding it harder to maintain, let alone increase, production. Chevron doubled its third-quarter net profit, but said production fell 5.7% in the quarter, after ExxonMobil reported an 8% production drop yesterday.
Falling oil prices are only going to accelerate that trend, analysts warn, at a time when OPEC is accelerating output cuts and production declines at oil fields around the world is apparently increasing.
Even Royal Dutch Shell, commissioned to write a balancing view for the group's report, is forecasting a plateau of supply as production moves to more difficult sources such as ultra-deeplayers and tar sands.
Skrebowski predicts that global oil production will peak in the period 2011-2013 and then decline steadily, with non-conventional sources such as tar sands failing to fill the gap in time to avoid a serious energy crunch.
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By John Donovan
7 October 2008
Shell employees will need to be even more on their guard when communicating by email or using instant messaging systems. Shell Global Security managed by Ian Forbes McCredie OBE, a former senior officer of the British Secret Service, will now have access to an archive of all such communications.
The new security monitoring systems are thought to be an attempt to stem the flow of leaked emails to what Reuters has described as the unofficial Shell website, royaldutchshellplc.com
Rockefeller's business model has permeated throughout the world as well as his hunger for more. When Standard Oil was broken up in 1911, two splintered companies were present day ExxonMobil and Royal Dutch Shell. Today, ExxonMobil and Royal Dutch Shell are two of the largest companies in the world, in fact rated numbers two and three in 2008 by Fortune 500 magazine.
Jeroen van der Veer, chief of Royal Dutch Shell, earlier this year predicted 2015 as the year the world reaches peak production. John Hess of Hess Corp. said: "An oil crisis is coming in the next 10 years. It's not a matter of demand. It's not a matter of supplies. It's both."
James Schlesinger, the first U.S. energy secretary, has said for decades that when it comes to energy policy, the U.S. toggles between complacency and panic.
Thirst for energy will double in the first half of the century, but increased biofuel production and carbon storage could help the world stabilize greenhouse gas levels by the 2020s, oil giant Shell said on Wednesday.
...does Saudi Arabia really want to bring oil prices down?
Gordon Brown clashed with leading oil-producing nations yesterday, insisting that surging demand from the developing world rather than speculative pressures was driving up oil prices and creating an oil crisis to match those of the 1970s.
Van der Veer has said peak oil is close and that it is time to start producing it from new sources such as tar sands and gas-to-liquids.
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
John Donovan, the website owner
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