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Posts on ‘July 4th, 2017’

Companies have to open up about climate risks – Shell CEO

Climate change poses one of the biggest long-term risks to the global economy and companies, including big oil and gas firms such as Shell, have to be open about how the risks will affect them, its chief executive said on Tuesday.

Shell, one of the biggest oil and gas producing firms in the world, is under growing pressure from some shareholders to improve its carbon footprint and sustainability credentials.

Shell said it assesses climate change risks internally but it has so far not disclosed in detail what financial impact climate-related risks could have. read more

Pakistan Investigating Shell Contractor’s Tanker Blast That Killed 209

Pakistan Investigating Shell Contractor’s Tanker Blast That Killed 209

By Saad Sayeed: July 4, 2017, at 9:15 a.m.

ISLAMABAD (Reuters) – Pakistan’s oil and gas regulator expects the first report this week on a road tanker explosion, involving a Shell Pakistan contractor, that killed 209 people, a spokesman for the regulatory authority said on Tuesday.

The June 25 explosion took place after the oil tanker went off road to avoid a collision outside the eastern city of Bahawalpur.

A large crowd of people gathered around the truck and many began collecting fuel in containers when the tanker exploded in a huge fireball. read more

U.S. Shale Just Triggered A Chemical Industry Renaissance

By Tsvetana Paraskova – Jul 03, 2017, 5:00 PM CDT

The shale revolution in the U.S. has led to a boom in domestic natural gas production, to the point that America is expected to become a net exporter of natural gas on an average annual basis by 2018.

Abundant gas at home has also led to a renaissance in the petrochemical industry in the U.S., which had suffered a downturn in 2008 and 2009. But then came the shale revolution, and chemical companies in the U.S. now use the affordable ethane—a natural gas liquid derived from shale gas—as a feedstock. read more

Iran’s Gas Wealth Lures Total to Take Dose of Political Risk

By Francois De Beaupuy , Golnar Motevalli and Hashem Kalantari
4 July 2017, 00:01 BST

Total SA made a $1 billion bet on natural gas in Iran, swallowing a hefty dose of political risk in the hope of gaining first-mover advantage in the country with the world’s largest reserves.

The deal to develop phase 11 of the giant South Pars field is the first investmentin Iran by an international energy company since sanctions were eased last year. Total expects it to open the way for further involvement in oil, gas and petrochemical projects there, said Chief Executive Officer Patrick Pouyanne. read more

Total Plows Into Iran, Leaving Shell, BP on Sidelines

By Benoit Faucon and Sarah Kent

The $1 billion pledged Monday by French oil giant Total SA in an Iranian gas field is a breakthrough for the resource-rich country, but it is unlikely to unleash the flood of foreign energy-industry investment that Tehran is seeking.

Total executives signed a contract Monday to press ahead with developing the country’s massive South Pars gas field, in which it holds a 50% operating stake. The contract is the first Iranian exploration and production project awarded to a major European company in 10 years, after a deal with global powers last year ended Western sanctions on Tehran over its nuclear program. read more

Shell removes Malaysian woman cutouts over groping pics

Shell removes Malaysian woman cutouts over groping pics

Images of men kissing and groping the cardboard cutouts have been circulating online

Energy giant Shell said it is removing life-sized cutouts of a Malaysian woman in a headscarf from its petrol stations in the Muslim-majority country after photos of men groping the figure started circulating online.

The adverts featuring a female employee, wearing a red T-shirt with a Shell logo, black trousers and a black headscarf, smiling and with her thumb raised in the air, had been placed at Royal Dutch Shell’s stations in Malaysia.

But images of men kissing the cardboard cutouts, holding her hand and grabbing her chest and crotch started circulating on Facebook in recent days, in what Shell blasted as “distasteful and suggestive acts”. read more

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