Earnings at European oil companies may drop 21 percent in 2009, compared with a 4.7 percent gain last year, according to estimates. Profit at Royal Dutch Shell Plc, Europes largest oil company, may drop 27 percent. The company postponed projects in Canada and Australia as demand for oil declined.
January 4th, 2009:
Profit at Royal Dutch Shell Plc, Europes largest oil company, may drop 27 percent
Gunmen seize oil services vessel off Nigeria
LAGOS, Jan 4 (Reuters) - Gunmen hijacked a vessel belonging to French oil services group Bourbon (GPBN.PA) off Nigeria's Niger Delta on Sunday as it travelled towards a Royal Dutch Shell (RDSa.L) offshore oilfield, security sources said.
BusinessWeek says Royal Dutch Shell will buy BP
With the rapid collapse of oil prices, and the resulting financial pressures, expect two or more mergers among Big Oil. Our best guess? Royal Dutch Shell (RDSA) buys troubled BP (BP), in part to avoid regulatory issues that could come from merging with a U.S. oil company.
Shell among contenders to develop big Iraqi oilfields
A giant oilfield lying beneath suburban Baghdad is among 11 being studied by Royal Dutch Shell and other Western oil companies, after the Iraqi Government opened them up to foreign companies this week.