Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘July 27th, 2012’

Shell chief is the man with a plan

By Geoff Foster: PUBLISHED: 21:54, 27 July 2012

You would like to think that Royal Dutch Shell’s chief executive Peter Voser had a  ‘Plan B’ when he surprised everyone in the City by walking away from a £641m cash bid for Cove, allowing Thailand’s PTT Exploration to win the day.

Of course he did. Speculation is now rife that he is in advanced talks with his counterpart at Anadarko, the US explorer, about the possible acquisition of some or all of its 36.5 per cent stake in the Rovuma-1 offshore gas fields in Mozambique. The major attraction of Cove was its 8.5 per cent stake in the Rovuma block.
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.

Will Shell voluntarily waive the $75 million cap on damages in the event of a catastrophic spill in the Arctic Ocean?

BP voluntarily waived the $75 million cap on damages after Deepwater Horizon spill. Will Shell voluntarily wave the $75 million cap on damages in the event of a catastrophic spill in the Arctic Ocean?

By a Guest Author, a Regular Contributor

The Oil Pollution Act of 1990 limits oil company liability for damages resulting from an oil spill to a maximum of $75 million. The Act was instituted largely in response to a public outcry over the Exxon Valdez oil spill. Attempts have been made to raise that cap to $10 billion, but they have failed.

The following links highlights some of the features of this act:

Oil Pollution Act of 1990, United States

This link gives you the full text of that Act:

33 USC § 2701 – Definitions | LII / Legal Information Institute 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.

As the Arctic Opens for Oil, the Coast Guard Scrambles

By and on July 26, 2012

Royal Dutch Shell (RDS/A) has spent $4.5 billion since 2005 preparing to explore for oil off Alaska’s north coast in the Arctic. Shell, which may begin drilling next month, is one of at least six companies planning to extract oil, gas, and minerals from the Arctic as global warming melts ice and opens new sea lanes to commerce. The Arctic region holds about a fourth of the world’s undiscovered oil and natural gas, according to the U.S. Geological Survey. About 84 percent of this treasure trove lies beneath the ocean floor. The U.S. has more than 1,000 miles of Arctic shoreline, and much of the country’s Arctic oil is there. 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 to scale back Arctic drilling plans

By Jennifer A. Dlouhy: Updated 07:33 p.m., Thursday, July 26, 2012

Shell’s Chief Executive Officer Peter Voser addresses the audience during the opening ceremonies for Motiva’s Crude Expansion Project in Port Arthur on Thursday. Photo taken Thursday, May 31, 2012 Guiseppe Barranco/The Enterprise Photo: Guiseppe Barranco / The Beaumont Enterprise

Shell is scaling back plans to drill up to five wells in Arctic waters this summer amid a series of setbacks, including stubborn sea ice clinging to Alaska’s shores and delays in construction of an emergency oil spill containment barge. 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.

Royal Dutch Shell profits hit by oil price volatility

26 July 2012

Royal Dutch Shell has reported a 13% drop in second quarter profits, hit by weaker oil and North American gas prices.

The fall in energy prices offset higher production as the company struggled to control costs.

Europe’s biggest oil company said profits fell to $5.7bn (£3.7bn) in the April-June period compared to $6.6bn a year earlier, the company said.

Shell’s share price closed down 2.31% as investors were disappointed.

“We are moving forward in volatile times. Our profits have fallen with energy prices, but our growth strategy is delivering to the bottom line,” said chief executive officer Peter Voser. 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.

For Exxon Mobil and Shell, Earnings Fall With Energy Prices

By and STANLEY REED

A version of this article appeared in print on July 27, 2012, on page B3 of the New York edition

HOUSTON — Exxon Mobil and Royal Dutch Shell, the biggest oil companies in North America and Europe, reported disappointing earnings on Thursday, attributing the results largely to lower global energy prices resulting from weakening economies.

The results came as no surprise to energy analysts, who noted that international benchmark prices for oil had declined by more than 7 percent in the second quarter, compared to the same period last year when turmoil in North Africa and the Middle East caused a spike in oil prices. 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.
%d bloggers like this: