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Posts on ‘July 1st, 2012’

Oil and gas are the new African queens

Oil and gas are the new African queens

When Royal Dutch Shell proposed a 195p-a-share, £992m offer for Mozambique-focused oil and gas explorer Cove Energy in February, many in the City regarded it as a “full” offer.

Workers undertake a flaring test at Waraga 1 well in Kaiso-Tonya, Uganda Photo: Reuters

Emily Gosden By : 5:27PM BST 01 Jul 2012

“The valuation looks stretched,” wrote one analyst. “The proposed offer is unlikely to face a challenge,” said another. More than four months on, Thailand’s PTT now leads a bidding war with a 240p-a-share agreed bid.

The City now expects Shell – which has so far raised its offer to 220p – to come back and at least match PTT, potentially even upping its bid to above 300p. Cove’s prized asset is its 8.5pc stake in the Rovuma 1 block off the Mozambique coast, where giant gas reserves have been discovered. 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 and Friends of the Earth exhange fire via the FT

By John Donovan

Stumbled across this interesting correspondence conducted publicly via the letters page of the Financial Times several years ago between Sir Mark Moody-Stuart of Shell and Mr Tony Juniper, Executive Director, Friends of the Earth, London. As can be seen, Sir Mark scored a spectacular own goal. Got his facts wrong.

FROM OUR JUNE 2005 SHELL NEWS ARCHIVE

Shell Director Sir Mark Moody-Stuart & Tony Juniper, Executive Director, Friends of the Earth, exchange fire  via the letters page of the Financial Times

Financial Times: Enjoy a free trip and get to ask Shell a question: By Sir Mark Moody-Stuart

Thursday 30 June 2005

By Mark Moody-Stuart

From Sir Mark Moody-Stuart.

Sir, Attending my last annual meeting of Shell as a director, I was interested to note that almost half of the 20 or so questions asked came from individuals from areas in the neighbourhood of Shell operations in Sakhalin, Brazil, Nigeria, the Philippines and the US. According to Craig Bennett of Friends of the Earth (FoE), who summed up their concerns, these people had been brought to England by FoE to reflect locally held views. 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.

Protesters say Shell can’t freeze them out

By Jennifer A. Dlouhy: Published 11:02 p.m., Friday, June 29, 2012

WASHINGTON – An aggressive legal strategy by Shell Oil Co. that aims to keep environmentalists from interfering with its drilling rigs has only emboldened activists who plan to protest and closely scrutinize the company’s Arctic drilling operations this summer.

Greenpeace activists have set sail in an ice-class ship, the Esperanza, and will be following Shell’s work from a distance, checking on marine life and using acoustic equipment to monitor how much sound is coming from the company’s oil drilling. 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.

‘The Eskimo and the Oil Man’: the high-stakes race for offshore Arctic oil

Originally published Sunday, July 1, 2012 at 5:01 AM

In “The Eskimo and the Oil Man,” author and former Chicago Tribune reporter Bob Reiss documents the high stakes for drilling in offshore Arctic waters — for the oil industry, for the Inupiat Eskimos and for the world, as the burning of fossil fuel impacts climate change.

By by Hal Bernton

Special to The Seattle Times

‘The Eskimo and the Oil Man: The Battle at the Top of the World for America’s Future’

by Bob Reiss 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 protest tripled cost of gas project to €3bn

The Minister for Natural Resources Pat Rabbitte has revealed that the true cost of the decade-long Shell to Sea protest is now €2bn, including hundreds of millions directly borne by the taxpayer.

By JOHN DRENNAN: Sunday July 01 2012

The Minister for Natural Resources Pat Rabbitte has revealed that the true cost of the decade-long Shell to Sea protest is now €2bn, including hundreds of millions directly borne by the taxpayer.

So far the main source of controversy in the Shell to Sea conflict has centred on a current garda policing bill of €14.5m. However, speaking to the Seanad last week, Mr Rabbitte said the real costs of the campaign, which was recently described as “protest tourism” by Alan Shatter, was closer to €2bn. 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 moves to pre-empt Arctic drilling challenges

By Jennifer A. Dlouhy: Published 11:06 p.m., Friday, June 29, 2012

SEATTLE – During Shell’s seven-year, $4.5 billion quest to search for oil under Arctic waters, environmentalists have put the company on the defensive by challenging government-issued drilling approvals and permits in federal court.

The strategy has been so successful that in 2011, Shell was forced to abandon its plans to launch exploratory drilling in the Chukchi and Beaufort seas after air pollution permits essential for the work were tossed out in one of those legal challenges. 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.

Heritage Oil to buy £541m Nigerian oil assets from Shell

Heritage Oil to buy £541m Nigerian oil assets from Shell

Heritage Oil has agreed to buy a parcel of Nigerian assets from Royal Dutch Shell and its partners for $850m (£541m), as it seeks to build a major presence in the country.

By 7:55AM BST 01 Jul 2012

The FTSE 250 company, led by chief executive Tony Buckingham, has formed a Nigerian joint-venture called Shoreline to buy a 45pc stake in a major onshore oil producing block known as OML 30. Shell owned 30pc of the block, with Total and ENI as minority partners. The majority 55pc stake is held by the Nigerian National Petroleum Corporation.

The deal, Heritage’s first foray into the country, will significantly increase its production, from 605 barrels of oil per day (bpd) currently to 11,354bpd. Heritage’s management believes production can be increased further. 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 readies to roll dice on multibillion-dollar bet in Arctic Alaska

Alex DeMarban | Jun 30, 2012

Editor’s note: This is the first of a three-part series looking at Shell’s plans to drill for offshore oil in Alaska’s Arctic. Part 2 will look at the small revenue the state can expect from federal offshore development and congressional efforts to change that. Part 3 will focus on the pipelines Shell must build to ship its oil to market — if it finds enough to justify the massive cost.

Talk to folks with Royal Dutch Shell for any length of time and you walk away thinking they’re holding a handful of aces. 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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