Rex Tillerson, chairman and chief executive of Exxon Mobil Corp., the world's largest oil-and-gas company, came out swinging Wednesday against the environmental movement, arguing the science of climate change is far from settled and that his company views it as its "corporate social responsibility" to continue to supply the world with fossil fuels.
May, 2008:
Exxon Mobil CEO takes aim at environmentalists
Closed-door Arctic deal denounced as ‘carve-up’
Environmentalists today denounced as a territorial "carve-up" a deal signed by five Arctic nations seeking to resolve competing claims for control of the polar region.
Gordon Brown in a hurry to get nowhere
No matter what the Government says, there is no solution to the problem of dear energy. Nuclear power is expensive and will not be here for at least a decade; renewables are also very expensive - Shell has pulled out of a big scheme in England which made no economic sense; and the Russians have all the gas.
ENI makes subsea discovery in deep waters offshore USA
Eni owns a 15% working interest in Stones. Shell (operator 35%), Marathon (25%), and Petrobras (25%) are the other partners.
Shell quits UK windfarm
James Smith, speaking at a climate change workshop hosted by Thomson Reuters on Wednesday, said Shell had decided to sell its share of the London Array windfarm project after capital costs increased significantly in the past year.
Exxon Mobil Shareholders Reject CEO-Chairman Split (Update2)
May 28 (Bloomberg) -- Exxon Mobil Corp. shareholders rejected resolutions calling on the world's largest company to bar its chief executive officer from serving as chairman and adopt greenhouse-gas reduction targets.
Shell to use next generation biofuel at the 24 Hours of Le Mans race
Shell is demonstrating its commitment to fuels innovation and the development of sustainable, low-carbon fuels with the blending of BTL (Biomass to Liquids) into its Shell V-Power Diesel race fuel at the 24 Hours of Le Mans race, in France on June 14, 2008.
Exxon Chief Defeats Challenge
DALLAS Exxon Mobils chairman and chief executive, Rex W. Tillerson, defeated a shareholder effort on Wednesday to take away one of his jobs at an annual meeting punctuated by a debate of the companys policy toward renewable energy and global warming.
ExxonMobil shareholders air grievances
ExxonMobil, the world's largest publicly-owned energy company, took up a series of proposals Wednesday made by shareholders who are dissatisfied with the company's direction.
Shell contains Nigeria oil spill, Bonny affected
LONDON, May 28 (Reuters) - Royal Dutch Shell said on Wednesday it had contained an oil spill following a pipeline attack in Nigeria earlier this week but added it could still not meet all supply obligations for Bonny Light crude.
ExxonMobil AGM today: Fireworks expected as shareholders gather
Exxon Mobil Corp.'s chairman and chief executive, Rex Tillerson, will have a fight on his hands today to keep the two top jobs at the world's biggest publicly traded oil company, as some members of the Rockefeller family and other shareholders push to separate the roles.
Crude Rally Falters, Down 2.5%
Tuesday was the first U.S. trading session following an attack by Nigerian militants Monday on a Royal Dutch Shell PLC pipeline.
Jakarta signs methane deal in scramble for energy
Numerous foreign companies, including Shell, BP, Total, Arrow and Marathon, are eyeing the sector...
What IT means to me: Never start IT initiatives for the sake of IT
Some 3,000 Shell IT staff will be transferred to the newly appointed service providers leaving about 600 specialists to work on key strategic, architectural and standardisation issues. It is one of the largest outsourcing deals of recent years and innovative in its use of multiple suppliers.
Talks aim to avert Arctic oil rush
Commercial interest in exploiting the Arctic is hotting up. Denmark recently attracted the likes of ExxonMobil and Chevron, the two biggest US energy groups, along with several smaller players, to explore off its western coast. Alaska, meanwhile, garnered aggressive bidding by Royal Dutch Shell, Europe's biggest energy group, which earlier this year won the right to explore the remote part of the state's Arctic North Slope.
Big oil lends to Nigeria
Royal Dutch Shell is one of a number of oil majors talking to the Nigerian National Petroleum Corporation, the state-run oil company, about terms for huge loans to kickstart exploration and production in the country. Between them, Shell, ExxonMobil and Total are contributing about $6bn.
Shell warns Nigeria of threat to confidence
Shell voiced its concerns shortly after agreeing, in a separate move, to lend the government $3.1bn (2bn, £1.6bn) to help kick-start stalled projects in their Niger Delta joint venture - the Shell Petroleum Development Company (SPDC).
UBS tells unit staff to avoid US visits: Shell CFO Peter Voser is a director of the scandal hit Swiss bank
UBSs travel restrictions suggest it is concerned that the investigations by the US Department of Justice and the Securities and Exchange Commission may widen.
Biofuels now seen as polluting and a threat to forests and food production
Brazil's ambitious plans for supplying the world with renewable sugarcane ethanol have been put on hold as criticism of biofuels escalates. Instead of being seen as a solution, biofuels have become the new villains of the energy scene and are now blamed for everything from hunger to climate change itself.
Gordon Brown calls on Opec to lift production amid surging oil price
Gordon Brown has called on the world's biggest oil producers to increase their dialogue with the key consumers of crude and remove any barriers to increasing future production
George Soros: ‘We face the most serious recession of our lifetime’
'This is a period of wealth destruction. The people who make money will be few and far between. There will be a lot more money lost than made." When George Soros - the phenomenally successful hedge fund manager - says this, you know something is wrong, very wrong. And indeed it is.
BP backs CEO over Russian oil venture row
TNK-BP was recently forced to give up a major Siberian gas project to Russian state gas company Gazprom and has been raided by Russian security services, signs, according to industry experts, of pressure being brought to bear by the Russian government. All shareholders have stated publicly they do not want to sell down their share in the joint venture.
When coming second can be a winning ticket
At Shell, it's more complicated but still very much about personal pique. Three top executives, Malcolm Brinded, Linda Cook and Peter Voser, are to be paid up to 1 million (£796,000) in restricted shares if they hang around until 2011. The date is crucial, being two years after the expected retirement of Jeroen van der Veer, Shell's chief executive. We can, therefore, assume that these individuals are not likely to get the top job. If any of them were a leading contender, there would be no need to bribe them to stick around for the biggest promotion of their careers. The Shell board is terrified that the three veterans might pack their bags just as the new chief walks in the door.
Shell Digs Deep to Find New Oil
The era of easy oil is over and the race is on to produce tomorrow's oil from new and more hostile frontier environments.
Nigeria: The Risk Premium
He had to be careful when he spoke to the press. According to the list, he wasnt supposed to mention the client, Shell (They are very sensitive about the situation and want to have absolute control over any mention of the company on this deal).
Dudley ‘to walk away from TNK-BP’
Robert Dudley, the chief executive of BP's Russian venture, TNK-BP, may soon leave his post due to disagreements between the company's Russian and British shareholders, according to reports.
Shell raises Saudi gas project stake to 50 pct
RIYADH, May 27 (Reuters) - Royal Dutch Shell (RDSa.L: Quote, Profile, Research) has raised to 50 from 40 percent its stake in a project to explore for gas in Saudi Arabia's vast Empty Quarter after French Total (TOTF.PA: Quote, Profile, Research) pulled out of the joint-venture.
Shell repairs damage to cars from gasoline mixed with water
SEATTLE -- Shell Oil Co. says it's paying to repair cars damaged by gasoline contaminated with water in the Seattle area.
Shell sees end of ‘easy oil’ era
"The challenges are huge. We've now got 30,000 technologists in Shell alone trying to find new ways to get oil and gas," Mr Smith revealed.
Is Invading Venezuela a Good Way Out of an Oil Crisis?
.....The obvious place to invade is Venezuela. Since the 1.8 trillion barrels of Venezuelan oil deposits consist largely of the Orinoco tar sands, a Venezuelan oil-related invasion would impose an additional requirement: to keep the environmentalists away, in order that reserves could be exploited with maximum efficiency.........
Supply concern holds oil above $133 a barrel
VIENNA, AustriaOil held steady above $133 a barrel Tuesday on worries about global petroleum supplies and the outlook for the U.S. dollar. Reports of an attack by militants on an oil pipeline in Nigeria...
Nigeria: MEND Attacks Shell Facility
THE Movement for the Emancipation of the Niger Delta (MEND) yesterday attacked a major trunk pipeline belonging to Shell at Awoba flow station in Degema Local Government Area of Rivers State.
Shell Says Nigerian Changes May Deter Investment (Update1)
Governments are seeking more money from oil companies as crude prices have surged to a record and exploration for resources has heated up. Shell ceded a stake in the $22 billion Sakhalin-2 offshore oil and gas project in Russia to Gazprom last year after Russian regulators threatened to shut it down for environmental violations.
Rosneft, Gazprom agree on splitting offshore
Gazprom is developing the huge Shtokman gas field in the Barents Sea and controls the Sakhalin-2 project offshore the Pacific island of the same name.
Rockefellers Seek Change at Exxon
The resolutions ask Exxon to take the threat of global warming more seriously and look for alternatives to spewing greenhouse gases into the air.
We Shareholders Want Good Value
Companies failing to address environmental concerns will damage their profitability in the long term.
For All the Ecological Concern, Economy Drives Energy Use
The U.S. is at a "tipping point," with people beginning to factor energy use into everyday decisions, says Lee Schipper, who has studied energy consumption for decades, earlier for Royal Dutch Shell PLc...
Nigerian rebels sabotage Shell oil pipeline
Nigerian militants yesterday said they had sabotaged an oil pipeline belonging to Royal Dutch Shell, the latest in a string of attacks that have helped drive oil prices to record highs.
EU backs mandate for talks
Russia should loosen its grip on its oil and gas pipelines and give European Union investors more protection ...
Exxon investors propose ban on green activism
It could be the nuclear option to silence rebellious investors. A libertarian activist has hit back at ExxonMobil's environmental critics by tabling a resolution that would outlaw shareholder social activism. Exxon has stopped short of endorsing the action fund's ban on shareholder activism, but the oil company wants the rules tightened to make it harder for investors to speak up at its meetings.
Crisis talks on global food prices
World leaders are to meet next week for urgent talks aimed at preventing tens of millions of the world's poor dying of hunger as a result of soaring food prices. The world's urban poor have been hit hardest, sending a wave of unrest and instability around the world.
Oil crisis triggers fevered scramble for the world’s seabed
A fevered scramble for control of the world's seabed is going on - mostly in secret - at a little known office of the United Nations in New York.
Cheap oil is history. But why?
The stampede in the oil market is making billions of dollars for a lucky few and leading others to wonder whether the world is finally starting to run dry. Until recently, the notion that international production was about to reach its limits the so-called peak oil theory was the preserve of cranks and crackpots.
George Soros: rocketing oil price is a bubble
Speculators are largely responsible for driving crude prices to their peaks in recent weeks and the record oil price now looks like a bubble, George Soros has warned.
Sulphur price soars on fertiliser demand
Shell is one of the most-efficient producers of sulphur, Barry Clarke, a sulphur market analyst for Pentasul, said. Shell produces about 3.5 million tonnes of sulphur, much of it from its Canadian oil sands business, and its cost, Mr Clarke reckons, is merely the rail freight cost of getting the sulphur to a port, about $25 a tonne.
UBS meltdown continues: Shell CFO Peter Voser is a director of the crisis hit Swiss bank
UBS is expecting more losses from its property exposure as the banks troubles widen beyond the United States to mortgage business in other countries.
Brown under fire on fuel as Nigeria attack lifts oil price
Although there was a dip from the record high of $135 a barrel at the start of last week, yesterday's sabotage of a Royal Dutch Shell pipeline in the Niger Delta by an anti-government group pushed prices back up beyond $133.
Shell Says Nigerian Oil Charges May Erode Investor Confidence
May 27 (Bloomberg) -- Royal Dutch Shell Plc's Nigeria venture said proposed changes by the government to retroactively amend production agreements may deter investment in the nation.
Crude Oil Rises Above $133 on Nigeria Attacks, Asian Subsidies
May 27 (Bloomberg) -- Crude oil rose above $133 a barrel in New York as a militant attack in Nigeria disrupted supplies and on speculation fuel subsidies in Asian countries will continue to spur demand.