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Posts on ‘February 1st, 2013’

We’re in the Arctic for the long term, Shell insists, despite risk to 2013 drilling plans

Royal Dutch Shell is in the Arctic for the long term, insisted chief executive Peter Voser, despite casting doubt over the company’s 2013 Alaskan drilling plans and warning he could not rule out further “incidents” after a series of mishaps.

The Kulluk drilling rig which ran aground off Alaska on New Year’s Eve. Photo: AFP

By 9:02PM GMT 31 Jan 2013

Mr Voser was speaking as Shell unveiled a 6pc fall in profits to $27bn (£17bn) for 2012, as fourth-quarter earnings came in below expectations because of a surprise slump in exploration and production profits.

Shell has spent about $5bn over seven years on its controversial Arctic exploration campaign but has yet to be allowed to drill into potentially oil-bearing rocks.

Setting out the company’s intentions to drill more than 40 conventional oil and gas exploration wells this year, Mr Voser said on Thursday that the Arctic was counted within those plans. 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 shares dive nearly 2% as £17billion profits disappoint

By Harry Glass: PUBLISHED: 12:43, 31 January 2013

Shell shares were down 42p (1.8 per cent) at 2,263.5p by mid-day.

Its refining operations actually returned to profit in the last quarter, but analysts were more concerned about a 14 per cent fall in earnings from its production division to £2.8billion – the company blamed higher costs and exploration expenses.

However, Shell produced 3.41million barrels of oil or gas equivalents per day – up by 3.3 per cent – reflecting the impact of start-ups in Qatar and Australia against declines at existing fields. 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.

Nigeria Spill Fines on Shell, Chevron, Not Backed by Law

By Elisha Bala-Gbogbo – Feb 1, 2013 11:23 AM GMT

Fines amounting to $8 billion sought by Nigeria from Royal Dutch Shell Plc (RDSA) and Chevron Corp. (CVX) for oil spills are not backed by law, said Bukola Saraki, chairman of the country’s Senate Committee on Environment.

“Under the existing law, there is no penalty for oil spills apart from just to clean it up,” Saraki, a senator representing the ruling People’s Democratic Party from central Kwara state, said in an interview in Abuja on Jan. 29. “You only pay 1 million naira ($6,362) for late reporting.” 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 EP PRODUCTION FORECAST & TRAGIC WORLD EVENTS

“I found the emails interesting and indicative of the deception Shell management was clearly engaged in. They were trying to exploit the events of 9/11 to their benefit. What these emails could have done at the time they were written is cause Shell’s stock to drop significantly.

By John Donovan

I stumbled across some intriguing Shell internal email correspondence while searching the US Court files for the class action litigation relating to the Shell reserves scandal. We have no comment whatsoever to make about the content of the email correspondence, which is self-explanatory.

The correspondence involved the following individuals with job titles at the time of the emails:

Aidan McKay: Manager Shell EP – The Hague (or Head Global Strategic Planning & Capital Allocation)
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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