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Posts on ‘June 3rd, 2010’

Shell must be bold in its raid on BP

By Wilt Staph 

Shell is the least courageous of all the oil majors when it comes to acquisitions. The over-priced takeover of Enterprise Oil aside Shell has stood on the sidelines whilst all of its competitors, without exception, have concluded huge scale takeovers/mergers in the last ten years. The reason for this reluctance is not hard to find – essentially Shell has always been the most risk averse of the majors. This came partly from the company’s historic size which led to complacency (it was once the largest corporation in the world in any sector) and secondly from its utterly conservative and Calvinist mindset. The Dutch and the British have one thing in common – something that is reinforced when they come together – diffidence tempered by a curious lack of ambition and audacity. Everything has to be quantified to the nth degree – and by the time that the spreadsheets have finished whirring someone else has moved in and stolen the deal.  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.

BP’s Hayward Faces Downgrades, Investors as Spill May Cost Job

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By Brian Swint

June 3 (Bloomberg) — BP Plc Chief Executive Officer Tony Hayward faces rising speculation that the worsening oil spill will cost him his job as he grapples with worried investors, rating downgrades, U.S. politicians and public anger over the company’s inability to control the crisis.

Hayward will address London’s investors and analysts tomorrow, spokesman Mark Salt said by phone. Moody’s Investors Service and Fitch Ratings downgraded BP today because the costs from the accident will hurt finances. Two U.S. senators said yesterday it would be “unfathomable” for BP to pay a dividend. 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.

Environmental group says gas drilling could taint drinking water of 17 million Americans

Royal Dutch Shell just spent $4.7 billion dollars purchasing land in gas-rich regions of New York and Pennsylvania.

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.

Suitors emerge for Shell refinery

Royal Dutch Shell PLC is studying two 11th-hour expressions of interest in buying its Montreal refinery, a plant it had targeted for closure, a spokesman said Wednesday.

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.

Industry can cut accident risks, says BP chief

Finncial Times: Industry can cut accident risks, says BP chief

By Ed Crooks in London and Edward Luce in Washington

Published: June 2 2010 23:26 | Last updated: June 2 2010 23:26

Extracts

Tony Hayward is fighting for BP’s right to stay in one of its most important regions for growth.

It was possible, he added, that in future BP could operate its own rigs working in deep water.

One of BP’s rivals has already moved in this direction. Royal Dutch Shell, Europe’s largest oil and gas group, has created a joint venture with Frontier Drilling of Norway. The new drill-ship concept, known as the “bully” rig, is used by Shell on some deep-water and Arctic developments. 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.

Potential scenarios facing BP

June 3 (Reuters) - BP's (BP.L) (BP.N)oil spill in the Gulf of Mexico has become the worst in U.S. history, prompting speculation about the future of the company and its chief executive, Tony Hayward.

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.

BP’s fall presents Shell with a once-in-a-lifetime opportunity

Financial Times: Talk of takeover swirls around BP

By Lina Saigol and Miles Johnson in London and Ed Crooks in Houston

Published: June 2 2010 23:49 | Last updated: June 2 2010 23:49

When a whale is wounded, it does not take long for the sharks to circle. With BP floundering in the Gulf of Mexico, the market has been abuzz with talk of a takeover of the British oil major.

The substantial erosion of BP’s market value – its shares have fallen 34 per cent since the Deepwater Horizon rig exploded on April 20 – means the company looks affordable to rivals for the first time in decades. 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.

TCEQ fines Motiva $250,000

June 2, 2010:

AUSTIN – From TCEQ – The Texas Commission on Environmental Quality today approved penalties totaling $823,010 against 70 regulated entities for violations of state environmental regulations.

Included in the total are penalties of $249,818 against Motiva Enterprises LLC, in Jefferson County, for numerous air violations, as a result of routine investigations conducted March and June, 2009. 

FULL ARTICLE

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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