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Posts on ‘May 4th, 2010’

Overblown BP sell-off may damage industry

“In Washington, a fresh impetus to pursue alternative forms of energy and a renewed hostility towards Big Oil will not be directed solely at BP.”

Times Online

May 5, 2010

David Wighton

The oil spill in the Gulf of Mexico is a tragedy — for the families of those who died, for the environment and for local communities.

It is a huge challenge for the company and its chief executive, Tony Hayward. But in cold, cash terms, is it really so bad as to warrant the £20 billion that has been wiped off BP’s market value?

The broken well, which is leaking 210,000 gallons of oil a day, could flow for a year and still be dwarfed by earlier incidents. The Ixtoc 1 blowout in Mexico’s Bay of Campeche disgorged 140 million gallons of crude into the Gulf of Mexico in 1979 before it was finally halted. Even that was a fraction of the 1991 spill when Iraqi forces allowed 36 billion gallons of crude to bleed into the Persian Gulf. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Reports Big Jump in Nigeria Spills

THE WALL STREET JOURNAL

MAY 4, 2010

By JAMES HERRON

LONDON—Royal Dutch Shell PLC reported Tuesday big increases in the volume of oil spilled in the Niger Delta in 2008 and 2009, due in large part to damage to pipelines from sabotage and attempts at oil theft.

The figures show how serious an impact armed militants in the Niger Delta have on Shell’s operations in the region and how important it is that the Nigerian government’s push for a truce is successful.

In 2009, 13,900 metric tons of oil were spilled into the Niger Delta as a direct result of sabotage or theft, more than double the 2008 total and four times the 2007 figure, Shell said in its annual sustainability report. Shell also quadrupled its estimate of the amount of oil it spilled in the region due to accidents in 2008 to 8,800 tons following the completion of investigations. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Natural gas to make up half Shell upstream output 2012

Reuters India

Tue May 4, 2010 12:32pm IST

SINGAPORE, May 4 (Reuters) – Natural gas will account for half of Royal Dutch Shell’s (RDSa.L: Quote, Profile, Research) global upstream production by 2012, Chief Executive Peter Voser said on Tuesday.

“We are working with partners around the region to tap its resources and meet the energy needs of Asia,” he said.

“Shell and PetroChina are also working together on projects to try and develop tight gas and shale gas reservoirs in Sichuan,” he said in a speech at the opening of the petrochemical complex in Singapore. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Too soon to say what US govt will do after leak -Shell

REUTERS

SINGAPORE, May 4 (Reuters) – Royal Dutch Shell (RDSa.L) said on Tuesday it is too early to draw conclusions on what the U.S. government will do about future Gulf of Mexico drillings as investigations are still ongoing after BP’s drilling rig exploded and ruptured a well two weeks ago.

Chief Executive Peter Voser also said the leak, which is gushing about 5,000 barrels of crude oil per day, will not have much impact on crude prices and production.

“The most important thing right now is to contain the oil spill,” he told a news conference at the opening of its new petrochemical complex in Singapore. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Complex Will Bring To Singapore More Than S$2B Investments From Chemical Cos – PM

THE WALL STREET JOURNAL

MAY 4, 2010

SINGAPORE Dow Jones)–A Petrochemical complex by Royal Dutch Shell Plc. which recently opened in Singapore is expected to attract more than S$2 billion in investments from major chemical companies, Prime Minister Lee Hsien Loong said Tuesday.

“It will generate more than S$2 billion in fixed asset investments from leading chemical companies,” Lee said at the opening ceremony of the complex.

Lee also said that Shell plans to make Singapore the base for more of its global units. The company’s global headquarters for marine products is already based in the city-state. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell CEO: Gulf Oil Spill Industry Event; Policy Impact Unknown

THE WALL STREET JOURNAL

4 MAY, 2010

SINGAPORE (Dow Jones)–Royal Dutch Shell PLC (RDSA.LN) reckons the Gulf oil spill is an important event for the whole industry that needs a “technical solution,” but it’s too early to say whether it will have any impact on future U.S. policy, Chief Executive Officer Peter Voser said Tuesday at a press conference.

Shell is one of the largest oil and gas producers in the Gulf of Mexico, where, according to some industry experts, crude could be spilling out of a deepwater well at the rate of 25,000 barrels a day after the explosion and sinking of Transocean Ltd.’s (RIG) Deepwater Horizon, which was drilling an exploration well for BP PLC (BP). read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Another disaster waiting? Shell Oil running sister rig in Gulf nearly identical to ill-fated Deepwater Horizon

Shell Oil is running a nearly identical “sister rig” in the U.S. Gulf of Mexico, which may have the same design flaws that led to the current unfolding disaster.

Southern Studies Institute

Despite an army of reporters and officials investigating the Deepwater Horizon oil rig disaster, one item has curiously escaped much attention: Shell Oil is running a nearly identical “sister rig” in the U.S. Gulf of Mexico, which may have the same design flaws that led to the current unfolding disaster.

The Deepwater Nautilus rig was built just a year after Deepwater Horizon, by the same company implicated in the April 20th disaster. It’s also drilling in the same Mississippi Canyon prospecting area of the Gulf where Horizon, the rig being used by British Petroleum, met its demise. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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