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Posts on ‘November 5th, 2011’

Shell voices long-term concerns over Europe as profits double

By Emma Rowley

EUROPE’S failure to cultivate growth is a bigger worry for oil and gas major Royal Dutch Shell than the region’s current sovereign debt crisis.

The Anglo-Dutch company has cut its support of European projects to just 15pc of its total investment spend, which it puts at $100bn (£62bn) over four years. Shell expects to keep reducing that share amid longer-term concerns about the region, according to Simon Henry, its chief financial officer.

“Europe’s macroeconomic position can only recover, and the sovereign debt crisis can only be addressed, through underlying economic growth, and we do not see the European Union creating the conditions for that – in fact, quite the opposite,” he said. “Most moves made by the Commission, one way or the other, tend to almost, either directly or indirectly, reduce the competitiveness of European industry.” 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.

Arctic marine drilling under review

By DAN JOLING, Associated Press October 4, 2011

ANCHORAGE, Alaska (AP) — Royal Dutch Shell paid the federal government $2.1 billion for petroleum leases in the Chukchi Sea off Alaska’s northwest shore. But nearly four years later, the oil giant has not been allowed to drill an exploratory well.

The company currently is in limbo as it waits for word on the 2012 drilling season.

Explaining the scenario to a pro-development crowd in a state that gets upward of 90 percent of its revenue from the oil industry can be a tough gig, the Interior Department’s No. 2 official acknowledged Thursday. 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.

Gas work at Shell Gannet Alpha leak pipeline completed

4 November 2011

Work to release gas trapped in a pipeline which spilled more than 200 tonnes of oil into the North Sea has been completed, Shell has said.

Divers earlier closed a relief valve after the incident at the Gannet Alpha platform in August.

Shell said the latest operation on the 4km structure had “further enhanced its stability and security”.

Plans are being made to deal with the remaining oil in the pipeline. An investigation into the leak is ongoing.

The impact of the oil spill in the North Sea was minimal, Scottish Fisheries Minister Richard Lochhead said in September. 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.