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Posts from ‘July, 2012’

Shell lorry carrying tunnel-boring equipment blocking Co Mayo crossroads

Updated: 18:40, Tuesday, 31 July 2012

A truck carrying specialist tunnel-boring equipment the Shell refinery project at Bellanaboy is blocking the the Glenamoy crossroads in Co Mayo.

A truck carrying specialist tunnel-boring equipment the Shell refinery project at Bellanaboy is blocking the the Glenamoy crossroads in Co Mayo.

The truck got into difficulty while navigating a turn on the narrow roads.

It is understood the lorry was transporting loads of up to 150 tonnes.

Although the intersection remains blocked, a council official says cars can still get past the obstruction.

However, he acknowledged it was a struggle.

Mayo County Council has confirmed in the past few minutes that efforts to winch the vehicle from its current location were unsuccessful. read more

Alaska election: Shell dives into state politics and ‘super PACs’ emerge

Amanda Coyne | Jul 31, 2012

As Royal Dutch Shell prepares to explore for offshore oil in Alaska’s Arctic, the company is also waging an effort against a ballot initiative that supporters say would restore the voice of Alaskans in federal coastal decisions.

Shell has contributed $150,000 to the Vote No on 2 campaign, which opposes reinstating the controversial Coastal Zone Management program, according to the latest campaign finance reports. Vote No on 2 has raised $768,000 — far more than the $64,000 raised by the Alaska Sea Party, the proponents of reviving Coastal Zone Management. read more

Shell Oil scales back Arctic drilling plan, now looking at 2 wells for 2012

By Associated Press, Updated: Tuesday, July 31, 9:55 PM

ANCHORAGE, Alaska — Shell Oil Co. is downsizing its plan for off-shore drilling in the Arctic this year amid delays completing a spill containment barge required by the federal government, a spokesman said Tuesday.

Shell now hopes to complete two wells in 2012 instead of five. One would be in the Beaufort Sea off the northern Alaska coastline, and the other in the Chukchi Sea off the northwest coast between Alaska and Russia.

The company’s ambitious two-year goal of drilling 10 wells remains in place, company spokesman Curtis Smith said. read more

Residents were right about Shell noise levels

Áine Ryan

THE Department of Environment has confirmed that high-pitch noises emanating from works on the controversial Corrib Gas project in north-west Mayo exceeded permitted levels.

Over the June Bank holiday weekend, some residents were forced to leave the area due to the noise, which was described at the time as ‘unbearable’ by septuagenarian Ena Gallagher. Another resident, Colm Henry, likened the noise to that of the whine of a jumbo jet taking off. The hydro-testing works were carried out by Shell E&P Ireland (Sepil) at Glengad, the site of the gas pipeline’s land-valve. read more

Ogoni Autonomy Gets D-Day

General Assembly sets 2nd August 2012 for Ogoni Political Autonomy

The date to decide the destiny of Ogoni people in southern Nigeria is set to be on the 2nd of August, 2012.

It means Ogonis will observe every 2nd of August each year as a day of internal independence in Nigeria.

This will be the first time that the Ogoni people will exercise self-determination in almost 111 years.

The General Assembly of the Ogoni people voted today, July 31, 2012 to approve the 2nd of August as a part of the nationwide general conference on the United Nations Declaration on Rights of Indigenous Peoples. read more

A Big Chill for Shell’s Arctic Drilling Plans

A series of mishaps is putting billions of spending in jeopardy

Jul 31, 2012, 9:12 am EDT  |  By Aaron Levitt, InvestorPlace Contributor

With energy demand not abating anytime soon, energy companies have gone looking far and wide (and deep) for new oil and gas reserves to meet that demand. Perhaps the most ambitious — and costly — effort so far has been Royal Dutch Shell’s (NYSE:RDS-A, RDS-B) plan to drill for hydrocarbons in Alaska’s frozen seas. Europe’s biggest integrated oil company has spent about $4.5 billion since 2005 on leases, permits and various equipment to reach an estimated 20 billion barrels in fields off of the northernmost U.S. city, Barrow, Alaska. read more

Activists fire volley at Shell over coral in Arctic

By Jennifer A. Dlouhy: Published 09:56 p.m., Monday, July 30, 2012

WASHINGTON – Environmental activists are keeping the pressure on Shell Oil Co. as it inches closer to launching exploratory drilling in Arctic waters north of Alaska.

Greenpeace activists and marine biologists conducting research in the area documented thick accumulations of soft coral in the Chukchi Sea near an area where Shell plans exploratory oil drilling.

Greenpeace scientists documented the sea raspberry coral during a recent research submarine dive in the Arctic waters north of Alaska. They took samples and photos of the species, known as Gersemia rubiformis, during the research mission and published the images on their website. read more

Showa Shell continuing to import Iranian crude

TOKYO, July 31 | Tue Jul 31, 2012 4:01pm IST

Japan’s Showa Shell cuts Iran oil imports from last year

(Reuters) – Japanese refiner Showa Shell Sekiyu KK has been importing less Iranian crude oil than last year’s average of 100,000 barrels per day (bpd), in line with U.S. sanctions against the Islamic nation, a company official said on Tuesday.

Showa Shell, formerly the country’s top buyer of Iranian crude, was acknowledging for the first time that it is continuing to import Iranian crude. Sources have said the company’s previous annual deal expired in March. read more

Shell machine stuck at crossroads


AINE RYAN: Tuesday, July 31, 2012

A large tunnel boring machine brought in by Shell to dig a 4.9km tunnel under Sruwaddacon Bay inland to the Bellanaboy gas processing terminal is stuck at a crossroads in Co Mayo as it is too large to navigate the narrow roads.

Thee specialist tunnelling equipment was on its way from Dublin to the Sruwaddacon Estuary in north Mayo. It couldn’t access the site at Aughoose because of its size and got stuck at the crossroads when it attempted an alternative route. read more

Shell demonstration of capping stack successfully completed in Gulf of Mexico.

By Zarina de Ruiter: Published on Tuesday, 31 July 2012 09:34

Royal Dutch Shell plc (NYSE:RDS.A), Marine Well Containment Company (MWCC) and the Bureau of Safety and Environmental Enforcement (BSEE) have announced the successful demonstration of the industry’s ability to respond to a deepwater well control incident in the U.S. Gulf of Mexico.

John Hollowell, Executive Vice President, Shell Upstream Americas, said: “This is an important tool in our emergency response efforts, but our focus remains on prevention of any and all incidents.” read more

Shell to Sea protest: Scuffles at Corrib gas project as tunneling equipment arrives


By Sarah Stack Tuesday July 31 2012

THERE was a tense stand-off between protesters and gardai today as a machine to tunnel under a picturesque bay was brought in by contractors for Shell.

Scuffles broke out as a huge Garda convoy escorted specialist tunnelling equipment as it travelled from Dublin to the Sruwaddacon Estuary in north Mayo.

Two protesters initially blocked the road on the outskirts of Ballina in the early hours of the morning during a “lock-on”, when they chained themselves to a drum filled with cement. read more

Delays In Bellingham Curtail Arctic Oil Drilling

By John Ryan

Shell Oil is scaling back its plans for drilling in the Arctic Ocean this year. Icy conditions in the far North and construction problems in Bellingham have delayed the company’s efforts. KUOW’s John Ryan reports from Seattle.

Royal Dutch Shell CEO Peter Voser announced on Thursday that Shell only expects to drill two wells off Alaska’s northern coast this summer, not the five it had planned.

“A great deal of planning has gone into this program, with over 20 vessels to cover the drilling and contingencies,” Voser says. read more

Shell Oil puts Arctic wildlife at risk

By DAVID YARNOLD: Monday 30 July 2012

If you thought the pictures of scum-covered Brown Pelicans in the Gulf of Mexico were heartbreaking, just wait for the first drilling disaster in Alaska’s frozen arctic waters and coastline.

We know so little about this deep freeze of an environment that America’s best scientists and experts say they’re not sure how to fix it if we break it.

Their nightmare scenario is a BP-like blowout in an ice-locked sea. Imagine these pictures: a helpless army suited up like Michelin men trying to rescue dying ducks, loons and polar bears from oil-slicked ice floes. read more

Canada’s Oil, the World’s Carbon

A version of this editorial appeared in print on July 30, 2012, on page A18 of the New York edition

Last month, the State Department formally invited public comment on the issues it should consider in a new environmental assessment of the Keystone XL, a 1,200-mile pipeline that would connect the Alberta oil sands to an existing pipeline in Nebraska. The review process was triggered when TransCanada filed a new pipeline application after its first proposal was rejected by President Obama in January. The department’s first environmental assessment was grossly inadequate, one of the main reasons President Obama rejected the proposal. read more

Shell plans to invest over $500 million on China shale, tight gas play in 2012

Singapore (Platts)–30 Jul 2012/237 am EDT/637 GMT

Shell plans to invest over $500 million this year drilling in shale gas and tight gas acreage in China, its chief financial officer Simon Henry said in an analyst call during its second quarter results announcement Thursday.

“There are several plays in our portfolio with PetroChina. We have two in Sichuan province in the south, southwest, and we have many CBM [coalbed methane] opportunities in the north … We spent around $450 million last year. This year [we plant to spend] over $500 million. We’re drilling about … close to 20 wells this year. It’s still very much in the exploration and appraisal [stage],” Henry was quoted as saying in a transcript of the call, which was out Friday. read more

Shell wants to invest more in China downstream gas

July 30, 2012, 6:39 a.m. EDT

By Wayne Ma

–Shell hopes to invest in China gas, both upstream and downstream

–Shell, Qatar, CNPC Taizhou refinery approval process is advancing

–Foreign companies may work with private China firms in second shale round

BEIJING–Royal Dutch Shell PLC RDS.B +0.82% hopes to boost investment not only upstream but also in the downstream gas sector in China, as it wants to profit from every link in the gas supply chain, the head of the company’s China unit said Monday. read more

Post-mortem on Shell Noble Discoverer “grounding”



I would like to point out that while at high tide the Shell/Noble Discoverer drill ship that slipped it anchor may indeed not have run aground  per se,(or grounded in a very muddy bottom preventing any damage) the photos show that at low tide the ship may have indeed been resting on good old ‘terra firma’. This seems to be readily apparent from elevated position of the bow of the ship in some of the photos, as well as the proximity of land to the stern of the vessel (we are talking a few ten’s of feet here at the most, and the draft of that vessel is reported to be 26 feet.’). read more

Shell eyes Russian opportunities as profits hit by energy prices

Royal Dutch Shell said it was eyeing opportunities to expand in a new “more open” Russia, as it unveiled a 25pc slump in profits, hit by lower energy prices.

Emily Gosden By , Energy reporter 7:00PM BST 26 Jul 2012

Royal Dutch Shell is eyeing opportunities to expand in a new “more open” Russia, its chief executive said today, as he unveiled a 25pc slump in the oil major’s profits, hit by lower energy prices.

Peter Voser confirmed that discussions were ongoing about future liquefied natural gas (LNG) projects in Russia.

The company is said to be in talks about joining the huge Shtokman LNG project in the Russian Arctic, with state-controlled Gazprom.

“We have a very successful venture with Gazprom in eastern Siberia. I think our credentials are clear,” Mr Voser said. “From a strategic point of view we are open to further investments in Russia and therefore are looking at opportunities either [in] oil or LNG. We have talked with the various players. Those talks include Gazprom.” read more

Exxon and Shell considering opportunistic bids for BP

By John Donovan

In an articled published today by The Sunday Times (Page 8 of Business Section), Danny Fortson has revealed that according to senior bankers, Exxon Mobil and Shell are both considering opportunistic bids for BP. 

The two thirds of a page article is published under the headline “Is the sun setting on BP?” and argues that BP is “vulnerable” as a result of a downsizing policy by BP’s Chief Executive.

Danny Fortson warns: “Bod Dudley may be playing a dangerous game. Shrinking the oil giant will make it more attractive to rivals…” read more

Peter Voser, another Shell CEO tainted by scandal


Hello John

No doubt you are already aware, but in these Olympic times with your queen jumping out of a helicopter, one never knows.

You are aware of the growing Libor scandal. I just read that other banks also were involved such as RBS and the Swiss UBS.

Now, who was a director not too long ago in UBS?????

And on another topic, the window of opportunity to drill a well in the arctic is narrowing by the day. Before too long they will have to postpone the whole circus for another 8 months. This will cost a fortune. Not good planning. I see similarities with the Kashagan field. Too little detailed planning upfront, too much arms-length management (the boys know what they are doing) and then things derail. No money has been earned just yet on one of the biggest discoveries in the last few decades. read more

Shell’s woes mount as it admits cost overruns and delays


THE TIMES: Shell’s woes mount as it admits cost overruns and delays

“FURTHER delays and soaring expenditure in big energy projects emerged at Royal Dutch Shell yesterday when the company admitted that the start-up of Bonga, a giant offshore Nigerian oilfield, had been pushed back until late this year.“: “Bonga’s budget has already swelled from a $2.7 billion estimate in 2001 to about $4 billion (£2.3 billion).”: “In a reference to the Sakhalin cost overruns, admitted by Shell a fortnight ago, Mr van der Veer said: “It is clear we must improve project management.”

Friday 29 July 2005

By Carl Mortished, International Business Editor

FURTHER delays and soaring expenditure in big energy projects emerged at Royal Dutch Shell yesterday when the company admitted that the start-up of Bonga, a giant offshore Nigerian oilfield, had been pushed back until late this year.

The billion barrel oilfield was expected to start producing in the summer but Peter Voser, Shell’s finance director, said that production would not get going until the fourth quarter. Bonga’s budget has already swelled from a $2.7 billion estimate in 2001 to about $4 billion (£2.3 billion). read more

The Guardian: Shell meets its match in the Rossport Five


The Guardian: Shell meets its match in the Rossport Five

“Suddenly, the issue became one of the biggest news stories of the year and, as the Irish Examiner called it, “a major public relations disaster for the Shell corporation”: “The “Rossport Five” were jailed at the specific request of the company, which had obtained compulsory purchase orders for the land in question – the first time in Irish history that such an order was granted to a private company. The five will remain in jail until they undertake not to obstruct the company.”: “Shell officials misjudged the situation…”: “July has seen huge rallies in support of the men in Co Mayo and in Dublin, the picketing of Shell garages nationwide, and round-the-clock blockades of the refinery construction site.”

William Hederman

Friday July 29, 2005

The residents of the tiny village of Rossport, in the north-west corner of County Mayo on Ireland’s Atlantic coast, have been up in arms for almost five years now. They have spent that time campaigning against a proposal by the petroleum giant Shell to lay a pipeline through their community to carry untreated gas from beneath the sea to a refinery 5.5 miles inland. Their cause secured little or no coverage in the national press until, at the end of June, five of them were jailed for refusing Shell access to their land to begin work on the pipeline. read more

Bloomberg: Shell Pays $150 Million to End Probe; Output May Fall


Bloomberg: Shell Pays $150 Million to End Probe; Output May Fall

“Shell Chairman Jeroen van der Veer, 56, in a conference call from London said the settlement is a hopeful step in ending the reserves debacle that led to the ouster of three senior executives, the loss of a top-tier investment rating and more than a dozen shareholder lawsuits”

July 29, 2004

July 29 (Bloomberg) — Royal Dutch/Shell Group agreed to pay $150 million to settle U.S. and U.K. regulatory probes into the overstatement of its reserves and said the billions spent on drilling may not boost production in the next two years.

Oil and gas output at Shell, Europe’s second-largest oil company, may drop to 3.5 million barrels a day in 2006, down 2.2 percent from now. Second-quarter net income rose 16 percent to $3.77 billion from $3.26 billion a year ago, using accounting that excludes inventory-related gains. read more

Lifting the Anchor on Change

Posted: 07/27/2012

There are certain iconic moments that prove to be turning points in history, where the momentum swings towards change.

These are marked by symbolic events that crystalize public opinion, influence investor sentiment or lead to political upheavals.

The financial crisis in 2007-08 that ushered in policy change to limit investment risk, the Arab Spring and calls for reform or the Fukushima disaster and the upsurge in global opposition to nuclear power are all such moments.

These are defining crossroads offering us the chance of renewal. The race to save the Arctic is another such moment. read more

Shell suffers political and economic upheavals

Shell suffers political and economic upheavals

Published on Friday 27 July 2012 00:00

OIL prices will continue to fall in the second half of this year due to the macro-economic downturn and “unprecedented” geopolitical events, Shell’s boss Peter Voser forecast yesterday.

It came as the British-Dutch oil major revealed that underlying profits fell 13 per cent to $5.7 billion (£3.7bn) in the second quarter of 2012 from $6.6bn in the same quarter of 2011.

Voser said Shell had managed to increase its output by 4 per cent to 3.1 million barrels a day, but this had been outweighed by the fall in global energy prices in the period. read more

Greenpeace finds deep-sea corals on Shell’s Arctic drill site

By , Published: July 27

Greenpeace scientists have identified a dense patch of deep-sea corals in a lease area of the Arctic’s Chukchi Sea off Alaska’s northwest coast, where Royal Dutch Shell is slated to start drilling.Researchers for the advocacy group, which have been lobbying to block drilling in the Arctic this summer, went down about 150 feet in a submarine this week to take samples. During the dives, they found significant concentrations of the soft coral Gersemia rubiformis , which is commonly known as sea raspberry.

Shell is awaiting final permits to begin drilling in the Chukchi and Beaufort seas and has predicted it could start as early as next week.

In its scientific report on the Chukchi’s benthic, or seafloor, environment, Shell identified corals as occupying less than 4 percent of the habitat.

But Greenpeace marine biologist John Hocevar described the corals as the “third most abundant” species he sampled, after two types of sea stars. He conducted the mission in a leased area about 10 miles from one of the company’s vessels. read more

Shell sees opportunity in Russia

Published: July 27, 2012 at 7:47 AM

THE HAGUE, Netherlands, July 27 (UPI) — Energy company Shell declared it was open to investing in the Russian liquefied natural gas and oil sector.

Royal Dutch Shell Chief Executive Officer Peter Voser said following the announcement of second-quarter earnings that Shell had a successful partnership already with Gazprom in eastern Siberia.

“From a strategic point of view we are open to further investments in Russia and therefore are looking at opportunities either (in) oil or LNG,” he was quoted by The Daily Telegraph newspaper in London as saying. “We have talked with the various players. Those talks include Gazprom.” read more

Shell flags gas project delays because of cost pressures

  • Matt Chambers
  • From: The Australian
  • July 28, 2012 12:00AM
  • read more

    Shell chief is the man with a plan

    By Geoff Foster: PUBLISHED: 21:54, 27 July 2012

    You would like to think that Royal Dutch Shell’s chief executive Peter Voser had a  ‘Plan B’ when he surprised everyone in the City by walking away from a £641m cash bid for Cove, allowing Thailand’s PTT Exploration to win the day.

    Of course he did. Speculation is now rife that he is in advanced talks with his counterpart at Anadarko, the US explorer, about the possible acquisition of some or all of its 36.5 per cent stake in the Rovuma-1 offshore gas fields in Mozambique. The major attraction of Cove was its 8.5 per cent stake in the Rovuma block.
    read more

    Will Shell voluntarily waive the $75 million cap on damages in the event of a catastrophic spill in the Arctic Ocean?

    BP voluntarily waived the $75 million cap on damages after Deepwater Horizon spill. Will Shell voluntarily wave the $75 million cap on damages in the event of a catastrophic spill in the Arctic Ocean?

    By a Guest Author, a Regular Contributor

    The Oil Pollution Act of 1990 limits oil company liability for damages resulting from an oil spill to a maximum of $75 million. The Act was instituted largely in response to a public outcry over the Exxon Valdez oil spill. Attempts have been made to raise that cap to $10 billion, but they have failed.

    The following links highlights some of the features of this act:

    Oil Pollution Act of 1990, United States

    This link gives you the full text of that Act:

    33 USC § 2701 – Definitions | LII / Legal Information Institute read more

    As the Arctic Opens for Oil, the Coast Guard Scrambles

    By and on July 26, 2012

    Royal Dutch Shell (RDS/A) has spent $4.5 billion since 2005 preparing to explore for oil off Alaska’s north coast in the Arctic. Shell, which may begin drilling next month, is one of at least six companies planning to extract oil, gas, and minerals from the Arctic as global warming melts ice and opens new sea lanes to commerce. The Arctic region holds about a fourth of the world’s undiscovered oil and natural gas, according to the U.S. Geological Survey. About 84 percent of this treasure trove lies beneath the ocean floor. The U.S. has more than 1,000 miles of Arctic shoreline, and much of the country’s Arctic oil is there. read more

    Shell to scale back Arctic drilling plans

    By Jennifer A. Dlouhy: Updated 07:33 p.m., Thursday, July 26, 2012

    Shell’s Chief Executive Officer Peter Voser addresses the audience during the opening ceremonies for Motiva’s Crude Expansion Project in Port Arthur on Thursday. Photo taken Thursday, May 31, 2012 Guiseppe Barranco/The Enterprise Photo: Guiseppe Barranco / The Beaumont Enterprise

    Shell is scaling back plans to drill up to five wells in Arctic waters this summer amid a series of setbacks, including stubborn sea ice clinging to Alaska’s shores and delays in construction of an emergency oil spill containment barge. read more

    Royal Dutch Shell profits hit by oil price volatility

    26 July 2012

    Royal Dutch Shell has reported a 13% drop in second quarter profits, hit by weaker oil and North American gas prices.

    The fall in energy prices offset higher production as the company struggled to control costs.

    Europe’s biggest oil company said profits fell to $5.7bn (£3.7bn) in the April-June period compared to $6.6bn a year earlier, the company said.

    Shell’s share price closed down 2.31% as investors were disappointed.

    “We are moving forward in volatile times. Our profits have fallen with energy prices, but our growth strategy is delivering to the bottom line,” said chief executive officer Peter Voser. read more

    For Exxon Mobil and Shell, Earnings Fall With Energy Prices


    A version of this article appeared in print on July 27, 2012, on page B3 of the New York edition

    HOUSTON — Exxon Mobil and Royal Dutch Shell, the biggest oil companies in North America and Europe, reported disappointing earnings on Thursday, attributing the results largely to lower global energy prices resulting from weakening economies.

    The results came as no surprise to energy analysts, who noted that international benchmark prices for oil had declined by more than 7 percent in the second quarter, compared to the same period last year when turmoil in North Africa and the Middle East caused a spike in oil prices. read more

    Romney Tax Plan: Many Happy Returns for Big Oil

    By Daniel J. Weiss, Seth Hanlon | July 31, 2012

    Republican presidential candidate Mitt Romney’s economic plan slashes corporate tax rates while failing to identify a single corporate tax loophole to eliminate. Highly profitable large oil companies that already enjoy lucrative tax breaks stand to receive some of the biggest benefits from Gov. Romney’s plan.

    The world’s five biggest public oil companies—BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell—would keep special tax breaks worth $2.4 billion each year. And by cutting corporate tax rates, the Romney plan could lower the companies’ annual tax bill by another $2.3 billion, based on an analysis of the companies’ tax expense for 2011. The special tax breaks, supplemented by Gov. Romney’s lower corporate rates, could benefit the oil companies by more than $4 billion annually. read more

    Shell disappoints as profits fall

    26 July 2012

    Falling energy prices have left its mark on Royal Dutch Shell after a weaker-than-expected profits performance drove a big fall in its share price.

    While chief executive Peter Voser insisted the Anglo-Dutch company was “moving forward in volatile times”, Shell’s second quarter profits of 5.7 billion US dollars (£3.7 billion) were down 13% and below City hopes.

    Shell increased upstream production by 4% to 3.1 million barrels a day in the quarter – driven by improved output of natural gas – but this was more than offset by the drop in global energy prices in the period. read more

    Shell CEO: America can be energy independent in 20 years; company profit drops on lower prices

    By Associated Press, Updated: Thursday, July 26, 5:18 PM

    AMSTERDAM — The chief executive of Royal Dutch Shell PLC on Thursday said that whichever political party wins the U.S. presidential election in November should formulate an energy policy with a view to achieving “near energy independence” within 20 years.

    Swiss CEO Peter Voser, who heads Europe’s largest oil company, was speaking after his company’s second quarter earnings showed a greater than expected decline in profits, due mostly to lower oil prices.

    At a meeting with analysts in London, Voser said that energy independence could be possible using a combination of newly-available technologies for extracting oil in difficult-to-reach areas, including the icy Alaska seas where Shell is undertaking exploratory drilling this summer, deep sea operations in the Gulf of Mexico, heavy oil sands, and especially developing the US’s large natural gas reserves would all help. read more

    Mitt Romney Omnishambles in London

    Definition of “omnishambles” – something that is very badly organised and is ineffective in every possible way

    Mitt Romney is having a disastrous visit to London. One gaff after another.

    He has already been rebuked by Prime Minister David Cameron for his undiplomatic comment alleging Britain is not ready to hold the Olympics.

    He then forgot the name of the labour party leader Ed Miliband, addressing him as “Mr Leader”

    He raised eyebrows by claiming to have met with the chief of MI6. The very existence of MI6 was not officially acknowledged until 1994.

    He followed that up by a comment about the “backside” of No. 10 Downing Street. (“backside” has unfortunate alternative meanings in Britain e.g. buttocks) read more

    Shell May Trim 2012 Alaska Drilling for Inspections, Ice

    By Katarzyna Klimasinska on July 26, 2012

    Royal Dutch Shell Plc (RDSA) may have to scale back its Arctic oil-exploration this year after unrelenting ice and trouble passing U.S. Coast Guard inspections delayed the planned July start of drilling.

    The company’s fleet remains in Dutch Harbor, Alaska, days away from the Chukchi and Beaufort seas off the state’s north coast, waiting for ice to break up and the U.S. to issue final permits for drilling five test wells. Arctic conditions require Shell to quit work by late October, before ice reforms. read more




    THE ARTICLE: The new king of the oil patch

    Lord Browne has put BP back on the map at the forefront of the global energy industry

    By Nelson Schwartz

    FROM FORTUNE Magazine

    25/26 July 2004

    IN an industry peopled with Texans who drop their “Gs” and seem fresh from the set of Rawhide, BP’s John Browne is decidedly different. Lord Browne is as content discussing his collection of crystal goblets or contemporary art as he is BP’s latest offshore find or next big pipeline project. He prefers salmon to steak and still speaks the Queen’s English he learned at boarding school and Cambridge. read more

    Royal Dutch Shell pressured as earnings disappoint

    By Tricia Wright: Thu Jul 26, 2012 5:21pm IST

    Heavyweight UK energy stock Royal Dutch Shell was left nursing a fall of 2.7 percent after its second-quarter earnings lagged expectations.

    Volume in the shares was nearly one and a half times its 90-day daily average.

    Weaker prices for oil worldwide and for gas in North America saw Shell, the second largest of the western world oil “majors” behind Exxon Mobil, report a fall in second-quarter earnings to around $6 billion from $8 billion a year ago on a current cost of supply basis. The result undershot analysts’ predictions of around $6.3 billion. read more

    Irish Times: Controversy over Mayo gas pipeline


    Irish Times: Controversy over Mayo gas pipeline

    “This giveaway agreement was presided over by a government led by CJ Haughey, and the terms were arranged by the then Minister who dealt with such affairs, Ray Burke. This man has since been investigated and found to have engaged in a mass of corrupt and illegal dealings, and has served a jail term.”

    Tuesday July 26, 2005


    Madam, – The continuing and unhappy imprisonment of a group of protesters from Co Mayo who seek to have Shell prevented from high-pressure gas pipeline construction draws attention to another matter of enormous importance to the people and economy of this island.

    I refer to the agreement, drawn up years back, between the then Haughey government and international oil companies, regulating the sale of prospecting rights, control, development and ensuing profits of the oil and gas resources off our western coast. read more

    Shell Still in Talks Over Russia’s Shtokman Project, CEO Says

    By Ben Farey – Jul 26, 2012 9:11 AM GMT+0100

    Royal Dutch Shell Plc is still in talks with OAO Gazprom about joining the Shtokman liquefied natural gas project in the Russian Arctic, one of the world’s biggest gas deposits.

    “We now have interest in doing more LNG projects in Russia,” Shell Chief Executive Officer Peter Voser told Bloomberg Television today. “Discussions are ongoing. I can’t comment on any more details.”

    Shell and Gazprom are already partners in the 9.6 million metric-ton-a-year Sakhalin-2 LNG plant on Sakhalin Island, off Russia’s far eastern coast. read more

    Time ticking on Shell’s offshore Arctic drilling

    By Yereth Rosen

    ANCHORAGE, Alaska, July 25 | Wed Jul 25, 2012 10:18pm EDT

    (Reuters) – Royal Dutch Shell’s plans to drill exploratory wells in remote Arctic waters off Alaska are being hampered by its failure to secure key regulatory approvals and lingering sea ice, which have already led to a three-week delay.

    Shell had hoped to use this year’s brief, ice-free season to drill up to three exploratory wells in the remote Chukchi Sea off northwestern Alaska and up to two in the Beaufort Sea off the state’s northern coast. The company has similar plans for 2013. read more

    Shell Profit Falls More Than Expected as Oil Prices Drop

    By Eduard Gismatullin and Francine Lacqua – Jul 26, 2012 9:07 AM GMT+0100

    Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, reported a larger decline than expected in second-quarter earnings as crude prices dropped and maintenance work on fields held back production.

    Profit fell 13 percent, excluding one-time items and inventory changes, to $5.7 billion, The Hague-based Shell said today in a statement. That missed the $6.3 billion average estimate of 10 analysts surveyed by Bloomberg. Benchmark brent crude futures slid 7 percent from a year earlier to average $108.76 a barrel on slowing global economic growth. read more

    Shell Looks To Lengthen Arctic Drilling Season Amid Deadlines

    Dow Jones Newswires: Published July 25, 2012

    Royal Dutch Shell PLC (RDSA, RDSA.LN) is scrambling to take advantage of a shrinking opportunity to drill for oil in the Arctic Ocean this summer, recently asking the Obama administration to allow it to get an early start on planned wells there, people familiar with the issue said.

    With about three months left before winter ice is expected to move in, Shell is waiting for construction of an oil-spill containment vessel to be completed and for the ship to make its way north to the waters off Alaska’s coast. Shell can’t begin work on wells in the Chukchi and Beaufort Seas until the vessel is in place. read more

    Big oil on the back foot in changing energy world

    Wed Jul 25, 2012

    * State-backed Asian groups rival big Western firms

    * Nimble specialists trouble U.S., European majors

    * Resource nationalism a rising challenge

    * Majors remain strong in tough environments

    By Andrew Callus

    LONDON, July 25 (Reuters) – It happens every time.

    Oil prices fall and the industry turns cannibal: big energy companies hunt out bargains among overstretched producers and promising explorers. It’s the season for takeovers and asset deals again.

    Only this time, there are no easy pickings for the U.S. and European heavyweights such as Exxon, BP, Shell and Chevron. The oil “majors”, which report second quarter results in the next few days, have rarely looked so threatened. read more

    Shell profit to dip in Q2

    July 25, 2012

    AMSTERDAM — Royal Dutch Shell, Europe’s biggest oil company, is due to report second quarter results on Thursday before markets open in Europe.

    WHAT TO WATCH FOR: Shell won’t earn quite as large a net profit as it did in the second quarter of 2011, due to lower oil prices and fewer asset sales, but it will still make billions of dollars. The company’s investors will remain focused on Shell’s gradual progress in growing production and increasing cash-flow.

    Shell has invested heavily in new projects throughout the downturn and is aiming to grow production to 4 million barrels of oil or equivalents by 2018. Production in the first quarter of 2012 was 3.55 million barrels per day, but that won’t be repeated, as a major facility was closed for part of the second quarter for maintenance. Analysts are looking for production of around 3.18 million per day. read more

    Shell Signs Deal With China’s State Oil Producers to Get Access

    By Brian Swint – Jul 25, 2012 12:18 PM GMT+0100

    Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, expanded cooperation with China’s state- backed producers, giving it more access to reserves in the world’s second-largest economy.

    The London-based company signed two offshore production- sharing contracts with Cnooc Ltd. (883) for the Yinggehai basin and amended a production sharing agreeement with China National Petroleum Corp. to allow the development of tight gas reserves, Shell said in a statement today. It also agreed to explore blocks off Gabon with Cnooc. read more

    Shell ups China presence with CNOOC tie-up

    LONDON | Wed Jul 25, 2012 8:48am EDT

    (Reuters) – Oil major Shell (RDSa.L) sealed an exploration tie-up with China’s state-run oil firm CNOOC (0883.HK) on Wednesday in a move which will help secure longer term growth from projects in the world’s energy-hungry second largest economy.

    Shell said it agreed two partnership deals with CNOOC, one to explore for oil and gas in the Yinggehai basin in the South China Sea, and one to look for hydrocarbons off the coast of Gabon.

    Shell already operates a gas field in central China, in the Changbei block, and said it would seek to increase production on that block through a separate amended agreement with state-run CNPC, where it is partnered with CNPC’s listed arm PetroChina (0857.HK). read more

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