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Posts on ‘May 24th, 2011’

Shell shuts Caspian office, $50bn Kashagan project on ice

Royal Dutch Shell will shut its Caspian office for the giant Kashagan oil field at the end of this month, effectively putting the crucial £30bn ($50bn) project on ice for at least two years.

Staff at Shell Development Kashagan in Atyrau have been laid off or relocated and the office closes on May 30. Photo: ALAMY

Richard Orange By Richard Orange, in Aktau 3:32PM BST 24 May 2011

The move followed the Kazakh government’s decision to reject a new lower-cost design for the crucial main development phase of the oilfield which has the potential to produce more than 1m barrels a day.

Staff at Shell Development Kashagan in Atyrau, a port on Kazakhstan’s Caspian coast, have been laid off or relocated over the past few weeks, and on May 30, the office will be closed.

The move follows a warning from Karim Massimov, Kazakhstan’s prime minister, that the project would not go ahead unless the disagreements on cost were overcome. 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 considers joining legal fight over Gulf drill ban

By Eduard Gismatullin
Bloomberg News May 24, 2011

Royal Dutch Shell Plc, Europe’s largest oil company, is examining plans to bring legal challenges over possible losses after last year’s Macondo oil spill, the worst in U.S. history.

“I am considering, but only considering,” Peter Rees, a legal director at Shell, said today at an International Bar Association’s webcast. “Before launching any form of action or deciding not to launch any form of action you need to gather as much information as you can.” 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.

MPs urge backing for UK shale gas

By Roger Harrabin Environment analyst, BBC News

Gas is a natural by-product of shale rock

A Commons committee has urged ministers to support plans for controversial shale gas drilling in the UK.

The energy select committee said environmental problems associated with it in the US could be overcome by tight regulation and good industry practice.

But the MPs said the UK government would need to be vigilant to ensure the technology did not pollute water or produce excessive greenhouse emissions.

Environmentalists said MPs should have called for a moratorium on shale gas. 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.

Facing Up to End of ‘Easy Oil’

May 24, 2011

By BEN CASSELMAN

WAFRA, Kuwait—The Arabian Peninsula has fueled the global economy with oil for five decades. How long it can continue to do so hinges on projects like one unfolding here in the desert sands along the Saudi Arabia-Kuwait border.

Saudi Arabia became the world’s top oil producer by tapping its vast reserves of easy-to-drill, high-quality light oil. But as demand for energy grows and fields of “easy oil” around the world start to dry up, the Saudis are turning to a much tougher source: the billions of barrels of heavy oil trapped beneath the desert. 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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