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Posts on ‘September 4th, 2017’

Nord Stream 2 Foreign Partners Want to Stay in Project – Russian Deputy PM

Russia’s foreign partners for the Nord Stream 2 expressed a desire to stay in the project, thus indicating that the project is commercially effective.

04.09.2017: MOSCOW (Sputnik) — Gazprom’s foreign partners for the Nord Stream 2 pipeline project say they want to continue participating in the project, despite US sanctions, Russian Deputy Prime Minister Arkady Dvorkovich told Sputnik Monday.

“To find funding is not the most difficult question in this sense… Partners are needed precisely to protect the project, because it is a sign, an indicator that the project is commercially effective. The presence of foreign private partners is a signal about this, it’s not about financing as such,” Dvorkovich said answering the question about the impact of the new US sanctions against Russia in relation to the Nord Stream 2 funding. read more

Exclusive Interview: Ben van Beurden – No North Sea retreat

A North Sea retreat is not on the cards for Shell, according to its chief executive.

Shell’s “rejuvenation” in the North Sea…

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Ben van Beurden hailed the region’s “tremendous” progress.

His commitment to the region comes after it sold more than half of its North Sea oil and gas fields for $3.8billion to Chrysaor.

The sell-off included interests in the fields Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine, and a 10% stake in Schiehallion.

Mr van Beurden insisted the shift in assets was about breathing new life into the portfolio Shell ring-fenced to keep. read more

Exclusive: Shell’s CEO – Oil slide is “biggest blessing”

“There were a few mishaps in BG that really hammered their share price and we saw them coming into this funny situation where the share price came down, but we could only see the value go up so we needed to take a hardened look at it again,” Mr van Beurden said. “And then while we were looking at it the oil price started crashing, which actually opened the window even further.”

Energy editor Rita Brown heads to the Hague to hear exclusively how Shell’s chief executive has viewed the last three years since the oil price crash

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Ben van Beurden’s rise to the top coincided with the oil price riding the crest of a wave.

But for a man who assumed Shell’s chief executive role just months before it all came crashing down, he sums up the last three years as “a blessing”.

“Less than a year into my new role, the oil price started going down and it’s been quite a journey, but if I look back on it I think this is probably the biggest blessing that I’ve had,” he said.

“It has done two things. First of all it provided a tremendous amount of focus on the things that needed doing. I mean, there’s nothing like a crisis to focus on cost efficiency. read more

‘Ogoni cleanup has been politicised due to diverse interests’

Activists in Port Harcourt, Nigeria protest to demand that Shell pay reparations and clean up its oil spills. Photo: © Amnesty International.

By Edu Abade: 04 September 2017

The Executive Director of Environmental Rights Action, Dr. Godwin Uyi Ojo (right), in this interview with Edu Abade says the cleanup process of Ogoniland announced at the commencement of the President Muhammadu Buhari administration with funfair has been politicised due to diverse interests. He argues that Shell’s membership of the governing council can only be likened to a judge sitting on his own case. He also expressed concerns over the desecration of the Petroleum Industry Bill (PIB), which has culminated in the partial passage of the Petroleum Industry Governance Bill (PIGB) recently by the Senate. An environmental activist for more than three decades, Ojo insists that oil as an exhaustible resource, will become obsolete on 20-30 years and advises Nigeria to explore alternative sources of energy. read more

End to Shell’s involvement in the most controversial infrastructure project in Ireland’s history

Protest event in Ireland during “Shell to Sea” campaign

Joe Brennan: 4 Sept 2017: Extracts from article: “Vayu warns of volatile prices for winter gas”

Ireland imports much of its gas needs through the UK, even though the Corrib field off the Mayo coast, which started production in late 2015, has the potential to meet up to 60 per cent of the country’s gas needs and is expected to supply fuel for up to 20 years.

“We are anticipating considerable energy price volatility this winter, which could be worrying for businesses as this is the time when their energy usage is at its highest,” said Keith Donnelly, an energy analyst with Vayu, noting that winter gas prices have risen by 8 per cent in the past six weeks. read more

Big Oil to be usurped by gas in little more than a decade, experts warn

Jillian Ambrose: 

THE dominance of Big Oil will be usurped in less than two decades by the dawn of a golden age for natural gas lasting at least until the middle of the century.

One of the world’s biggest risk assurance experts in the global energy ­industry has predicted that gas will emerge as the world’s most important source of energy by the mid 2030s ­after a slow descent for oil which will peak within ten years and the ongoing decline of coal. read more

Oil giants donate $23 million for Harvey victims

Extracts from unedited feed from the Press Trust of India wire.

September 4, 2017 | UPDATED 03:55 IST

By Seema Hakhu Kachru

Houston, Sep 4 (PTI) US oil giants have pledged USD 23 million for disaster relief operations to help Gulf Coast residents recover from Hurricane Harvey, one of the most destructive storms in US history that killed at least 50 people.

Harvey has soaked Texas with the heaviest rainfall in US history. Texas officials said more than 185,000 homes were damaged and 9,000 destroyed as 42,000 people remain in shelters amid overflowing rivers and reservoirs. read more

Oil giant Shell fined over North Sea diesel leak

NEWS FROM JULY 2, 2015 RELEVANT TO RECENT EVENTS

Oil giant Shell was today fined over £6,000 after a diesel leak on board the same North Sea platform where two workers died 12 years ago.

Sean McCue, 22, and Keith Moncrieff, 45, lost their lives when they were overcome by gas while working on the energy firm’s Brent Bravo rig in 2003.

The oil company was previously fined nearly one million pounds admitting safety breaches which led to their deaths.

Yesterday Shell UK bosses returned to the court after approximately 13 to 15 tonnes of diesel spilled into the North Sea despite warnings over the transfer system going back over a decade. read more

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