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Posts on ‘February 27th, 2013’

Shell’s Forecasts for North Sea Field Are Blown Off Course

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By Steve Rosenbush, Deputy Editor: February 27, 2013

Royal Dutch Shell plc’s analytic tools may have led it to overestimate the potential resources of an oil and gas field in the North Sea—a reminder that the latest in algorithms and visualization tools, as powerful as they might be, aren’t always right.

The company said late last Thursday it was reassessing its development plan for the Fram oil and gas field in the North Sea following “unexpected” initial drilling results. The original development plan forecasted that the field, located between the U.K. and Norway, would  produce an average of 35,000 barrels of oil equivalent a 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 announces indefinite halt to its Alaska drilling plans

By John Donovan; Published 27 February 2013 PM

The following announcement has just been published on shell.com under the headline: Shell announces pause in Alaska drilling programme

It is notable that the so-called “pause” is indefinite.

Shell has got a bad case of corporate frostbite and may take some time to regroup and recover. 

The current management was exposed as being inexperienced and hopelessly incompetent.

The latest move is an admission that Shell was not ready and is still not ready (properly equipped and trained) to drill safely in Arctic waters. It proves the first foray was reckless. 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.

Selection of links to Shell related articles: 27 February 2013

Selection of links to Shell related articles kindly supplied by a regular contributor

The Race For California’s Shale Is On!: Daily Reckoning-Natural gas is plentiful and oil is coming to the surface, more each day. … Indeed, if New York goes the way of shale, the road may be paved for California. … characters include: Chevron, Shell, Exxon, Occidental and Venoco.

Witness in Gulf oil spill trial charges BP had flawed safety record: NOLA.com-Feb 26, 2013: Bea’s work experience includes 16 years with various divisions of Shell Oil, including stints studying offshore accidents; five years as a vice … 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.

Is Shell Executive Director Matthias Bichsel Trustworthy?

Matthias Bichsel, Executive Director, Projects & Technology, Royal Dutch Shell Plc

Irrefutable evidence proves that Matthias Bichsel knew years before Shell investors that Shell had a major problem over its proven reserves bookings, which were not in compliance with the U.S. Securities and Exchange Commission rules. Like his colleague Simon Henry, the current CFO of Royal Dutch Shell Plc, he participated in the cover-up by not blowing the whistle, thus protecting his own ambitions inside Shell.  The evidence suggests he may have had a role in the reserves conjuring process and also has a memory problem. Lets hope it has not deteriorated further. He is not a man who can be trusted to look after the best interests of investors.

By John Donovan

Matthias Bichsel, a Swiss citizen, is currently an executive director of Royal Dutch Shell Plc. He joined Shell in 1980, rose through the ranks and was appointed as Director of Projects & Technology on 1 July 2009.

His current responsibilities include:

  • Project Execution
  • Global Technical Expertise
  • Research and Development
  • Third-Party Services
  • Safety and Environment
  • Contracting & Procurement
  • Technical IT

Can shareholders place their trust in Matthias Bichsel to protect their interests? The answer is absolutely NO, not if his track record is any guide.

Since Mr. Bichsel is the executive director responsible for safety and environmental issues, he may well have questions to answer about Shell’s Arctic debacle, with U.S. federal prosecutors currently being asked by the Coast Guard authorities to take legal action over safety and environmental violations committed by Shell and/or its contractor, Noble Corporation 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.

Tugs towing Shell drill vessel to Dutch Harbor

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A Royal Dutch Shell PLC drilling barge that ran aground New Year’s Eve is on the move from near Kodiak Island in Alaska to Dutch Harbor.

The Associated Press: Originally published February 26, 2013 at 7:18 PM | Page modified February 26, 2013 at 7:21 PM

ANCHORAGE, Alaska —

A Royal Dutch Shell PLC drilling barge that ran aground New Year’s Eve is on the move from near Kodiak Island in Alaska to Dutch Harbor.

Shell spokesman Curtis Smith says in an email to The Associated Press that the Kulluk left the bay Tuesday afternoon. Three tugs are towing the barge in a journey expecteKd to take about 10 days.

The Kulluk drilled in the Beaufort (BOH’-fort) Sea last year and was being towed to Seattle when it broke loose from its towing vessel. The round drilling barge ran aground New Year’s Eve. 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 buy Repsol LNG assets for $6.2 billion in cash and assumed debt

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Associated Press: Published February 26, 2013

AMSTERDAM –  Royal Dutch Shell says it has struck a deal with Spain’s Repsol SA to buy Repsol’s liquefied natural gas assets in Peru and Trinidad & Tobago in a deal worth $6.2 billion.

Shell said it would pay $4.4 billion in cash and assume $1.8 billion in Repsol debt and other obligations.

The deal also includes a gas-fueled power plant in Spain.

For Shell, Europe’s largest oil company, the deal builds on an already strong specialization in LNG. More than half of Shell’s production comes from natural gas, rather than oil, and it has stakes in LNG facilities across the world. 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.

Selection of links to Shell related articles: 26 February 2013

Selection of links to Shell related articles kindly supplied by a regular contributor

Shell drillship may have legal troubles on horizon: Alaska Dispatch-Ed Markey, D-Mass., to Shell Oil Co. President Marvin Odum. Among the issues noted by the Coast Guard’s inspectors were “improper wire …

Japan wakes up to US shale revolution: Financial Times-… affecting both producers such as ExxonMobil and Royal Dutch Shell and … Oil-indexed contracts have been a feature of the LNG industry for …

BC announces First Nations agreement, royalty credits to bolster …: National Post 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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