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Posts on ‘August 17th, 2010’

Cairn Energy’s $8.5 billion Mid-Life Crisis

Cairn bought the exploration licenses in Rajasthan from Royal Dutch Shell, who believed the properties contained no oil, in 1997 for just $7 million.

THE WALL STREET JOURNAL

By James Herron

Instead of settling into the respectable middle tier of global oil producers as its major oil discoveries in Rajasthan, India, gradually come onstream, the U.K.-listed Cairn Energy has decided to do the oil industry equivalent of selling the Volvo, buying a Harley and cruising off into the sunset.

Cairn Energy will sell the bulk of its stake in Cairn India, which owns and operates the Rajasthan fields, to metals and mining company Vedanta Resources. Cairn Chief Executive Sir Bill Gammell leaves behind dreary subjects like pipeline maintenance and enhanced oil recovery and will instead focus his company’s resources on the exciting business of exploring for new fields. 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 fuel manager defends advertising accusations

The Dominion Post

A Shell fuel technology manager says he had not wanted advertisements to quantify fuel savings from a petrol additive because he did not want to end up in court defending it.

But Eric Holthusen ended up in court anyway, where he said yesterday that he believed a 2006 advertising campaign for the “fuel economy formula” additive did not mislead.

The Commerce Commission has laid 22 charges alleging misleading advertising or engaging in conduct liable to mislead. Shell’s defence to the charges continues in Wellington District Court today. 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.

Drilling Permits for Deep Waters Face New Review

THE NEW YORK TIMES

By JOHN M. BRODER

A version of this article appeared in print on August 17, 2010, on page A1 of the New York edition.

WASHINGTON — The Obama administration said Monday that it would require significantly more environmental review before approving new offshore drilling permits, ending a practice in which government regulators essentially rubber-stamped potentially hazardous deepwater projects like BP’s out-of-control well.

The administration has come under sharp criticism for granting BP an exemption from environmental oversight for the Macondo well, which blew out on April 20, killing 11 workers and spewing nearly five million barrels of oil into the Gulf of Mexico. 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.