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Posts on ‘November 1st, 2008’

Bad news bearers

Collectively, the world's Big Five (Chevon, Exxon Mobil, BP PLC, Royal Dutch Shell and Conoco Phillips) raked in $44.4 billion, up 58% from a year ago in the third quarter. Yet, despite being richer than more than half the world's economies combined, these giants are now warning they're bracing for the fallout of a global economic meltdown. One, I might add, they helped to ignite by limiting production when demand was at a high, and peak-oil speculators were laughing all the way to the bank.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Peak Oil: Are Oil Prices Destined to Rise Again?

THE WALL STREET JOURNAL

October 31, 2008, 12:13 pm

Posted by Keith Johnson

Crude oil futures continued down on Friday, spooked by the dim outlook for the U.S. economy. That’s precisely what makes it likely oil prices will rebound next year.

TroutRun_art_200v_20081031111117.jpg  A tough run upstream (AP)

Big oil companies are already finding it harder to maintain, let alone increase, production. Chevron doubled its third-quarter net profit, but said production fell 5.7% in the quarter, after ExxonMobil reported an 8% production drop yesterday.

Falling oil prices are only going to accelerate that trend, analysts warn, at a time when OPEC is accelerating output cuts and production declines at oil fields around the world is apparently increasing. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Western Oil Companies Resolve Kazakh Dispute

The project also has more partners than most ventures of its kind: besides ENI, there is Royal Dutch Shell PLC, Exxon Mobil Corp.,Total SA, ConocoPhillips, Inpex Holdings Inc. of Japan and KazMunaiGas. Strained relations between the partners have added to the project's complexity.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell’s new chief executive needs to deliver the jam tomorrow

Shell's traditional rival BP is a safer short-term bet. Its production growth will be faster in the short term, and the projects offer higher margins. It is also spending less to deliver that growth. This gives investors greater comfort that falling oil prices won't endanger its dividend, and might explain why BP shares have outperformed Shell's by 7pc in since the beginning of September.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Ormen Lange Gas Field Now Has 6 Wells Online – Shell

Norway's giant Ormen Lange gas field is now producing gas from six wells, after three new wells were brought online earlier this month, a spokeswoman for operator Royal Dutch Shell PLC (RDSA.LN) said Friday.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell halts Canadian sands development

Royal Dutch Shell has become the latest oil company to halt development of Canada's formerly booming tar sands industry, amid soaring costs and plunging oil prices.

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.
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