The goal is to prove that energy can be generated through nuclear fusion a process akin to how light and heat are produced by the sun. The promise is virtually unlimited amounts of energy from abundantly available sources.
Posts from ‘April, 2009’
On 25 January 2008, Carl Mortished, World Business Editor of The Times newspaper wrote an article headlined: Shell chief fears oil shortage in seven years in which he described the site as an independent website that monitors the company.
Snapshot of Wikipedia Article Royaldutchshellplc.com taken on 30 April 2009
royaldutchshellplc.com is a gripe site operated by 92 year old Alfred Donovan and his 62 year old son John Donovan, which is critical of Royal Dutch Shell. On 11 June 2007, Ed Crooks of the Financial Times described it as “an anti-Shell website run by a father and son partnership that has been a long-running thorn in the companys side.” On 25 January 2008, Carl Mortished, World Business Editor of The Times newspaper wrote an article headlined: Shell chief fears oil shortage in seven years in which he described the site as an independent website that monitors the company. During the course of a long feud between the Donovan’s and Shell, oil industry observers have speculated that the Donovan’s thwarted a Shell Texacomerger and cost Shell billions of pounds sterling in respect of its Sakhalin-2 project in Russia.
NETHERLANDS Royal Dutch Shell plans to inject US$5bn into its pension fund in 2009, chief financial officer Peter Voser told analysts yesterday.
In a presentation about the firms first quarter returns, Voser said the increased contribution amount, up from $1.6bn in 2008, is driven by regulatory and other legal requirements.
Voser said: The sharp decline in the world markets at the end of 2008 has left pension deficits for many companies, and Shell is not immune from that.
Security crews, the Contra Costa County Sheriff's search and rescue team and tracking dogs searched every nook and cranny of the 1,000 acre-plant but found nothing. Then, at 11:22 p.m., the mystery was unraveled: His body was found inside a water-holding tank. Now, Martinez police are investigating the death and trying to find out how Maddock ended up inside the tank.
BP PLC and Royal Dutch Shell PLC both reported first-quarter earnings this week that comfortably beat analysts' forecasts. One factor was the success of their oil trading operations.
Chevrons partners in the Gorgon venture are ExxonMobil and Royal Dutch Shell, with each owning 25 per cent stakes.
Royal Dutch Shell expects to cut jobs this year as it continues its squeeze on costs in response to the lower oil price, its chief executive has told the Financial Times.
Should BP and Royal Dutch Shell redomicile and relist to the United States? The question is largely academic, for it is most unlikely to happen any time soon. Yet London-based oil chiefs sometimes look longingly across the pond at the apparently superior share-price performance of Exxon Mobil.
Royal Dutch Shell blamed weaker oil prices and continuing violence in Nigeria for a 58 per cent fall in earnings. However, despite sliding profits, the oil group said that it would still pay out $2.4 billion (£1.6 billion) in dividends to shareholders for the quarter.
Royal Dutch Shell said it is examining plans with Gazprom to expand Sakhalin projects beyond their liquefied natural gas venture in the Far East.
By SAM FLEMING
Last updated at 9:11 PM on 29th April 2009
Oil prices may not bounce back for 12 to 18 months, Royal Dutch Shell warned after a sharp fall in profits.
Profit warning: Royal Dutch Shell says it could be another 12 months before oil price bounce back
First-quarter earnings tumbled 58 per cent to £2.2billion after oil prices more than halved.
Demand may fall further because of the mounting recession, said chief financial officer Peter Voser, who replaces Jeroen van der Veer as chief executive this summer.
...Shells trading numbers made for some grim reading on Wednesday. Its high-cost oil sands business swung sharply into loss compared with last year. The same was true for chemicals, due to a collapse in demand. Earnings from gas and power halved, while those from exploration and production fell by two-thirds.
The industry is, in effect, back to the days when oil was about $10 per barrel, and many of the biggest companies Shell not among them were forced to merge to cut costs.
Group increases debt to pay for dividend rise and capital expenditure
By Garry White
Last Updated: 7:33PM BST 29 Apr 2009
Royal Dutch Shell’s profits more than halved in the first quarter as oil prices tumbled, forcing the energy group to increase its debt to support both the dividend and its investment programme.
Despite the 58pc fall in profits to $3.3bn on a current cost of supplies basis, which takes into account changes in the value of oil and distillate inventories, Shell beat consensus forecasts of $2.6bn. The group’s performance for the three months to March reflected the oil price, which averaged $43.20 over the period compared with $97.86 in the first quarter of 2008.
Shell has pledged to continue with its controversial tar sands projects but has been forced to consider far-reaching cost cuts to keep the operations going after they lost $42m (£28m) in the last three months
LONDON, April 29 (Reuters) – Royal Dutch Shell Plc (RDSa.L) is retendering some contracts for the expansion of its Port Arthur refinery in the U.S., but this will not lead to any delays in startup of the new capacity, Chief Financial Officer Peter Voser told analysts on a conference call.
(Reporting by Tom Bergin, editing by Will Waterman)
� Thomson Reuters 2009 All rights reserved.
LONDON (Dow Jones)--Royal Dutch Shell PLC's (RDSB.LN) output from onshore operations in Nigeria was more than 90,000 barrels equivalent per day, or 38.5%, lower in the first quarter of 2009 compared with a year ago as security problems shut down a major pipeline and gas plant, the chief financial officer Wednesday.
The figures also show that Shell is failing to cover its capital spending programme and its dividend payments from its income. Cash flow from operations was $7.9bn, while capital spending was $7.1bn and dividend payments were $2.4bn a shortfall of $1.5bn. As a result, Shells debts have been rising.
LONDON, April 29 (Reuters) - Oil and gas prices are unlikley to rise significantly in the next 12-18 months, because of economic weakness, the Chief Financial Officer of oil major Royal Dutch Shell Plc (RDSa.L) said on Wednesday.
LONDON (Dow Jones)--Royal Dutch Shell PLC (RDSB.LN) made good progress cutting costs in the first quarter and renegotiated some contracts made in 2005 and 2006 down by 15%-20%, said the company's Chief Financial Officer Peter Voser Wednesday.
Royal Dutch Shell is responsible for many important initiatives in relationship to the environment, encouraging business start-ups, supporting charitable causes and other good works.
Hearing Comes Four Weeks Before Landmark Human Rights Case, Wiwa v. Shell, Goes to Trial in Federal Court in New York
Royal Dutch Shell profits more than halved to $3.3bn (£2.2bn) in the first quarter of the year as the deepening global recession hit demand and dragged down oil prices.
By Telegraph Staff
Last Updated: 8:56AM BST 29 Apr 2009
Profits for the first three months of 2009 are 58pc lower than the same period a year ago and 31pc down on the last quarter of 2008.
The price of crude oil in London is trading around $50 a barrel, down from a record high of $147 last July. The high was hit just before the financial crisis came to a head in the autumn and the worlds biggest economies went into reverse.
Royal Dutch Shell Chief Executive Jeroen van der Veer said the weaker global economy has created challenging condition for both its exploration and retail businesses.
April 29 (Bloomberg) -- Royal Dutch Shell Plc, Europes largest oil company, said first-quarter profit fell 62 percent as a slump in crude prices reduced earnings from exploration and production.
"We have a difficult year ahead of us," Shell vice president for Africa, Ann Pickard said in an internal company publication. "With the drop in oil prices, our survival depends on controlling our costs," she added.
Royal Dutch Shell Plc, BPs larger rival, is likely to report a 67 percent drop in profit excluding one-time items and inventory changes to $2.56 billion tomorrow, based on the median estimate of 11 analysts compiled by Bloomberg.
Shell has no comment on discussions to develop deep natural gas in Kuwait,Malcolm Brinded, the companys executive director for exploration and production, said in a March 30 interview.
Shell's contribution to the fund has risen from 5% to 23.6% and the employee contribution has risen from 2% to 8% of salaries, the company said in an update posted on its Web site Saturday. The increased payments should bring the pension's funding ratio to 105% within three years and 127% by 2023, the company said.
Republicans ‘using gas pipeline protest as a recruiting ground’
Monday, 27 April 2009
Dissident republicans linked to the groups which carried out the murders of two soldiers and a policeman in Northern Ireland last month were responsible for the break-in and criminal damage of the Shell gas plant in Mayo last week.
The group of around 18 men wearing black balaclavas threatened and struck one of the two security guards on duty with an iron bar before causing damage costing thousands of euro in what Garda sources described as a “military-style” operation.
NEW YORK — Shell Oil Co. agreed to pay a $5.8 million penalty and cut greenhouse gas emissions at a Gulf Coast refinery as part of a settlement with Texas environmental groups who filed suit against it early last year, The Associated Press reported.
The agreement, which must still be approved by a federal judge, would cut greenhouse gas emissions at Shells Deer Park, Texas, refinery and chemical plant by 750,000 pounds a year for the next three years. In addition, monitoring of air quality would be improved, according to the Sierra Club and Environment Texas groups.
The company thats currently adrift in the choppy waters of Iraqs political scene is Royal Dutch Shell PLC (RDS.A, RDS.B). Shell signed a $4 billion deal with Iraqs oil ministery that gave it the rights to process and market natural gas from the countrys southern Basra province.
In the 1910s, ExxonMobils ancestor Standard Oil of New Jersey was the worlds biggest oil company, with Shell second; that is still the position among the western companies today.
In the Beaufort Sea, Shell would pick alternative prospects to those the company planned to drill in 2007 and 2008, and which are now subject to litigation and an injunction ordered by the U.S. 9th Circuit Court of Appeals in San Francisco.
Energy giant Royal Dutch Shell PLC committed to invest more in Redwood City, Calif.-based Codexis Inc., which is developing enzymes that rapidly turn plants into fuel.
On successive days, beginning Tuesday, BP PLC, Royal Dutch Shell PLC, Exxon Mobil Corp. and Chevron Corp. will report results for what is expected to be the worst quarter for these profit machines in many years
April 27 (Bloomberg) -- Royal Dutch Shell Plc and BP Plc, Europes largest oil companies, may post the biggest drop in quarterly earnings in at least five years after the recession dragged down crude prices.
MICHAEL DWYER’S SECURITY CONTACTS: International armed and unarmed security provided by Shell agent in Ireland
IRM has also been involved in the security for Shell's operations in Mayo and has provoked a rash of complaints from Shell-to-Sea protesters and locals for alleged non-compliance with regulations of the Private Security Authority (PSA).
MICHAEL DWYER, the Tipperary man shot dead in Bolivia, worked in security on the Shell Corrib project with a Hungarian associate of the main target of the Bolivian police attack.
Two directors have already amassed pension funds which will pay them more than £1m a year on retirement. Jeroen van der Veer, chief executive of oil giant Royal Dutch Shell, has accrued a nest egg worth almost £1.2m;
Oil giants involved in the exploitation of tar sand fields face calls this week to disclose future carbon liabilities. Co-operative Financial Services (CFS) and environmental charity WWF-UK are launching a campaign for a legal requirement for companies including Shell and BP to include this information in financial reporting.
Ken Saro-Wiwa and the Case Aganist Shell: Film Screening and Panel Discussion
April 15, 6pm San Francisco
Shell plans to drill its first test well in the Chukchi Sea in the summer of 2010 or 2011, using the Frontier Discoverer drill ship. The company also plans to drill a second well in the Beaufort Sea with the same vessel later in the summer, according to Pete Slaiby, general manager for Shell Exploration and Production's Alaska operations.
Fourteen years ago, Ken Saro-Wiwa received the Goldman Prize for his leadership of a powerful non-violent movement against oil giant Royal Dutch Shell in the Ogoni region of Nigeria. He was hanged seven months later after a sham trial condemned around the world.
April 24, 2009: 11:50 AM ET
LONDON -(Dow Jones)- Sakhalin Energy, which recently started a large liquefied natural gas plant in Russia’s far east, has canceled all planned 2009 seismic surveys following pressure from environmental groups and scientists seeking to protect the habitat of the Western Gray Whale, the Russian branch of the World Wildlife Fund said in a statement Friday.
The WWF Russia called on other companies operating in the area -BP PLC (BP), ExxonMobil Corp. (XOM) and OAO Rosneft (ROSN.RS) – to take similar action.
During a meeting of the Western Gray Whale Advisory Panel (WGWAP), Sakhalin Energy - a partnership between Shell, Gasprom and other shareholders - agreed to cancel its proposed 2009 seismic activities, despite having already put plans in place for the work.
For more than a decade the Global Climate Coalition, a group representing industries with profits tied to fossil fuels, led an aggressive lobbying and public relations campaign against the idea that emissions of heat-trapping gases could lead to global warming
Analysts said the Gazprom Neft bid will be good news for Royal Dutch Shell PLC, the Anglo-Dutch supermajor that is Sibir's 50-50 partner in the Salym field. Shell would prefer to have Gazprom as a partner there over BP, one of its main rivals.
Masked men armed with chains and iron bars broke into Shell's gas refinery in the west of Ireland last night, in an escalation of the local protest against the oil company's 900m ($1.2bn, £800m) project.
Sibir also owns a 50 per cent stake in a joint venture with Royal Dutch Shell to develop one of Russia's most promising fields, Salym, where production hit 80,000 barrels a day in January.
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