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Posts on ‘July 28th, 2012’

Shell’s woes mount as it admits cost overruns and delays

FROM OUR JULY 2005 SHELL NEWS ARCHIVES…

THE TIMES: Shell’s woes mount as it admits cost overruns and delays

“FURTHER delays and soaring expenditure in big energy projects emerged at Royal Dutch Shell yesterday when the company admitted that the start-up of Bonga, a giant offshore Nigerian oilfield, had been pushed back until late this year.“: “Bonga’s budget has already swelled from a $2.7 billion estimate in 2001 to about $4 billion (£2.3 billion).”: “In a reference to the Sakhalin cost overruns, admitted by Shell a fortnight ago, Mr van der Veer said: “It is clear we must improve project management.”

Friday 29 July 2005

By Carl Mortished, International Business Editor

FURTHER delays and soaring expenditure in big energy projects emerged at Royal Dutch Shell yesterday when the company admitted that the start-up of Bonga, a giant offshore Nigerian oilfield, had been pushed back until late this year.

The billion barrel oilfield was expected to start producing in the summer but Peter Voser, Shell’s finance director, said that production would not get going until the fourth quarter. Bonga’s budget has already swelled from a $2.7 billion estimate in 2001 to about $4 billion (£2.3 billion). 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 Guardian: Shell meets its match in the Rossport Five

FROM OUR JULY 2005 SHELL NEWS ARCHIVE…

The Guardian: Shell meets its match in the Rossport Five

“Suddenly, the issue became one of the biggest news stories of the year and, as the Irish Examiner called it, “a major public relations disaster for the Shell corporation”: “The “Rossport Five” were jailed at the specific request of the company, which had obtained compulsory purchase orders for the land in question – the first time in Irish history that such an order was granted to a private company. The five will remain in jail until they undertake not to obstruct the company.”: “Shell officials misjudged the situation…”: “July has seen huge rallies in support of the men in Co Mayo and in Dublin, the picketing of Shell garages nationwide, and round-the-clock blockades of the refinery construction site.”

William Hederman

Friday July 29, 2005

The residents of the tiny village of Rossport, in the north-west corner of County Mayo on Ireland’s Atlantic coast, have been up in arms for almost five years now. They have spent that time campaigning against a proposal by the petroleum giant Shell to lay a pipeline through their community to carry untreated gas from beneath the sea to a refinery 5.5 miles inland. Their cause secured little or no coverage in the national press until, at the end of June, five of them were jailed for refusing Shell access to their land to begin work on the pipeline. 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.

Bloomberg: Shell Pays $150 Million to End Probe; Output May Fall

FROM OUR JULY 2004 SHELL NEWS ARCHIVE

Bloomberg: Shell Pays $150 Million to End Probe; Output May Fall

“Shell Chairman Jeroen van der Veer, 56, in a conference call from London said the settlement is a hopeful step in ending the reserves debacle that led to the ouster of three senior executives, the loss of a top-tier investment rating and more than a dozen shareholder lawsuits”

July 29, 2004

July 29 (Bloomberg) — Royal Dutch/Shell Group agreed to pay $150 million to settle U.S. and U.K. regulatory probes into the overstatement of its reserves and said the billions spent on drilling may not boost production in the next two years.

Oil and gas output at Shell, Europe’s second-largest oil company, may drop to 3.5 million barrels a day in 2006, down 2.2 percent from now. Second-quarter net income rose 16 percent to $3.77 billion from $3.26 billion a year ago, using accounting that excludes inventory-related gains. 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.

Lifting the Anchor on Change

Posted: 07/27/2012

There are certain iconic moments that prove to be turning points in history, where the momentum swings towards change.

These are marked by symbolic events that crystalize public opinion, influence investor sentiment or lead to political upheavals.

The financial crisis in 2007-08 that ushered in policy change to limit investment risk, the Arab Spring and calls for reform or the Fukushima disaster and the upsurge in global opposition to nuclear power are all such moments.

These are defining crossroads offering us the chance of renewal. The race to save the Arctic is another such moment. 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 suffers political and economic upheavals

Shell suffers political and economic upheavals

By MARTIN FLANAGAN
Published on Friday 27 July 2012 00:00

OIL prices will continue to fall in the second half of this year due to the macro-economic downturn and “unprecedented” geopolitical events, Shell’s boss Peter Voser forecast yesterday.

It came as the British-Dutch oil major revealed that underlying profits fell 13 per cent to $5.7 billion (£3.7bn) in the second quarter of 2012 from $6.6bn in the same quarter of 2011.

Voser said Shell had managed to increase its output by 4 per cent to 3.1 million barrels a day, but this had been outweighed by the fall in global energy prices in the period. 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.

Greenpeace finds deep-sea corals on Shell’s Arctic drill site

By , Published: July 27

Greenpeace scientists have identified a dense patch of deep-sea corals in a lease area of the Arctic’s Chukchi Sea off Alaska’s northwest coast, where Royal Dutch Shell is slated to start drilling.Researchers for the advocacy group, which have been lobbying to block drilling in the Arctic this summer, went down about 150 feet in a submarine this week to take samples. During the dives, they found significant concentrations of the soft coral Gersemia rubiformis , which is commonly known as sea raspberry.

Shell is awaiting final permits to begin drilling in the Chukchi and Beaufort seas and has predicted it could start as early as next week.

In its scientific report on the Chukchi’s benthic, or seafloor, environment, Shell identified corals as occupying less than 4 percent of the habitat.

But Greenpeace marine biologist John Hocevar described the corals as the “third most abundant” species he sampled, after two types of sea stars. He conducted the mission in a leased area about 10 miles from one of the company’s vessels. 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 sees opportunity in Russia

Published: July 27, 2012 at 7:47 AM

THE HAGUE, Netherlands, July 27 (UPI) — Energy company Shell declared it was open to investing in the Russian liquefied natural gas and oil sector.

Royal Dutch Shell Chief Executive Officer Peter Voser said following the announcement of second-quarter earnings that Shell had a successful partnership already with Gazprom in eastern Siberia.

“From a strategic point of view we are open to further investments in Russia and therefore are looking at opportunities either (in) oil or LNG,” he was quoted by The Daily Telegraph newspaper in London as saying. “We have talked with the various players. Those talks include Gazprom.” 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 flags gas project delays because of cost pressures

  • Matt Chambers
  • From: The Australian
  • July 28, 2012 12:00AM
  • 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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