Jan. 9 (Bloomberg) -- Royal Dutch Shell Plc remains committed to investing in Canadian oil sands after putting on hold the expansion of the second phase of the Athabasca project in Alberta, its chief executive officer said today.
January 9th, 2009:
Shell Committed to Oil Sands, to Maintain Investments, CEO Says
Will 100 yrs of ruthless rivalry end with ExxonMobil buying Shell?
The military tone of articles published 90 years ago in the New York Times provide insight into the depth of intense rivalry between the oil giants which sometimes descended into open warfare. The opening salvo was fired in an article published on 16 January 1928 under the dramatic headline: N.Y. STANDARD OIL DECLARES WAR UPON DUTCH SHELL GROUP.
Exxon: Waiting for the tiger to pounce
Is Shell in Exxon's sights? A deal with Shell might be particularly sweet for Exxon's ego. The two firms have been archrivals since the early days of the oil barons, with the Anglo-Dutch Shell and John D. Rockefeller's Standard Oil, which spawned Exxon, going head to head in markets around the globe.
A year of merger mania for the majors?
As I've written before, while Exxon's earnings have set records, its worldwide production has declined. So Exxon is sitting on a huge pile of cash, it needs access to new reserves and now assets are available at bargain prices. That's prompting speculation that it might buy Royal Dutch Shell. Exxon could, as CNN points out, offer a 60 percent premium, in cash, for every Shell share, taking out its second largest competitor in the process.
BPZ, Shell unit end talks
BPZ Resources Inc. and a unit of Royal Dutch Shell PLC agreed to end talks aimed at jointly exploring for oil and gas in Peru after oil prices slumped.
Exxon CEO Advocates Emissions Tax
ConocoPhillips and the U.S. divisions of BP PLC and Royal Dutch Shell PLC have all supported a cap-and-trade solution.
Blown away
Many energy companies complain that the UK's renewable energy subsidies are not generous enough: Shell, for instance, last year pulled out of the proposed London Array wind farm.
Chevron warning on fourth quarter earnings
The warning in Chevrons interim update underlined that even the worlds biggest oil companies are feeling the effects of the economic slowdown. Chevron already has curtailed some development plans.
Controversy boils at idled refinery: Accusation against Shell Oil by union and consumer activists
Shell Oil Co. is putting the squeeze on a financially troubled Bakersfield refinery it sold in 2005 to Big West Oil, which could lead to the closing of the operation and potentially higher gasoline prices for California motorists, according to consumer activists and a union representing plant workers.