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Posts on ‘July 25th, 2012’

Shell Looks To Lengthen Arctic Drilling Season Amid Deadlines

Dow Jones Newswires: Published July 25, 2012

Royal Dutch Shell PLC (RDSA, RDSA.LN) is scrambling to take advantage of a shrinking opportunity to drill for oil in the Arctic Ocean this summer, recently asking the Obama administration to allow it to get an early start on planned wells there, people familiar with the issue said.

With about three months left before winter ice is expected to move in, Shell is waiting for construction of an oil-spill containment vessel to be completed and for the ship to make its way north to the waters off Alaska’s coast. Shell can’t begin work on wells in the Chukchi and Beaufort Seas until the vessel is in place. 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.

Big oil on the back foot in changing energy world

Wed Jul 25, 2012

* State-backed Asian groups rival big Western firms

* Nimble specialists trouble U.S., European majors

* Resource nationalism a rising challenge

* Majors remain strong in tough environments

By Andrew Callus

LONDON, July 25 (Reuters) – It happens every time.

Oil prices fall and the industry turns cannibal: big energy companies hunt out bargains among overstretched producers and promising explorers. It’s the season for takeovers and asset deals again.

Only this time, there are no easy pickings for the U.S. and European heavyweights such as Exxon, BP, Shell and Chevron. The oil “majors”, which report second quarter results in the next few days, have rarely looked so threatened. 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 profit to dip in Q2

July 25, 2012

AMSTERDAM — Royal Dutch Shell, Europe’s biggest oil company, is due to report second quarter results on Thursday before markets open in Europe.

WHAT TO WATCH FOR: Shell won’t earn quite as large a net profit as it did in the second quarter of 2011, due to lower oil prices and fewer asset sales, but it will still make billions of dollars. The company’s investors will remain focused on Shell’s gradual progress in growing production and increasing cash-flow.

Shell has invested heavily in new projects throughout the downturn and is aiming to grow production to 4 million barrels of oil or equivalents by 2018. Production in the first quarter of 2012 was 3.55 million barrels per day, but that won’t be repeated, as a major facility was closed for part of the second quarter for maintenance. Analysts are looking for production of around 3.18 million per day. 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 Signs Deal With China’s State Oil Producers to Get Access

By Brian Swint – Jul 25, 2012 12:18 PM GMT+0100

Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, expanded cooperation with China’s state- backed producers, giving it more access to reserves in the world’s second-largest economy.

The London-based company signed two offshore production- sharing contracts with Cnooc Ltd. (883) for the Yinggehai basin and amended a production sharing agreeement with China National Petroleum Corp. to allow the development of tight gas reserves, Shell said in a statement today. It also agreed to explore blocks off Gabon with Cnooc. 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 ups China presence with CNOOC tie-up

LONDON | Wed Jul 25, 2012 8:48am EDT

(Reuters) – Oil major Shell (RDSa.L) sealed an exploration tie-up with China’s state-run oil firm CNOOC (0883.HK) on Wednesday in a move which will help secure longer term growth from projects in the world’s energy-hungry second largest economy.

Shell said it agreed two partnership deals with CNOOC, one to explore for oil and gas in the Yinggehai basin in the South China Sea, and one to look for hydrocarbons off the coast of Gabon.

Shell already operates a gas field in central China, in the Changbei block, and said it would seek to increase production on that block through a separate amended agreement with state-run CNPC, where it is partnered with CNPC’s listed arm PetroChina (0857.HK). 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.

Exxon may lead drop in global oil profits on lower prices

Top Houston companies by market value

Posted on July 25, 2012 at 6:40 am by Bloomberg

The world’s largest oil companies are poised to report a drop in second-quarter earnings after crude prices declined for the first time in three years.

Exxon Mobil Corp. (XOM), the world’s biggest oil company by market value, will probably say tomorrow net income dropped 13 percent from a year earlier to $9.3 billion dollars, based on the average of five analysts’ estimates compiled by Bloomberg. Royal Dutch Shell Plc (RDSA), Europe’s top oil producer, is expected to see profit decline 4 percent after adjusting for certain gains and losses. 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 Revises Agreement With CNPC To Boost Tight Gas Output

July 25, 2012

By Wayne Ma and Alexis Flynn

BEIJING–Royal Dutch Shell PLC (RDSB) Wednesday revised an existing agreement with China National Petroleum Corp., or CNPC, to further develop tight gas at the joint Changbei project in northern Shaanxi Province.

Tight gas is an unconventional natural gas that is harder to extract because the deposit is surrounded by rock and sand.

Under an amended production-sharing contract, Shell and CNPC will develop tight-gas sands in addition to its already producing main reservoir and boost output beyond a current peak of 320 million cubic feet per day, it said in a statement. 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 Signs Upstream Deals With CNOOC, CNPC For China, Gabon Projects

07/25/2012 | 06:27am US/Eastern

LONDON–Royal Dutch Shell PLC (RDS.LN) Shell announces Wednesday that it signed two offshore oil and gas Production Sharing Contracts, or PSCs, with the China National Offshore Oil Corporation, or CNOOC, and a PSC amendment with CNPC, the China National Petroleum Corporation, for a new development phase for the Changbei gas field in China.

MAIN FACTS:

-Also entered an agreement with CNOOC for its participation in two Shell exploration blocks offshore Gabon, West Africa. 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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