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Posts on ‘December 22nd, 2013’

Shell to sell off £18bn in assets after profits tumble

Screen Shot 2013-12-22 at 19.09.52OIL giant Shell is to start a sale of up to $30bn (£18bn) of assets next year after weak refining margins and oil theft in Nigeria caused a sharp fall in profits, it can be disclosed. Mr Voser, a Swiss national, is to step down at the end of the year and will be succeeded in January by Shell’s Dutch refining and marketing chief, Ben van Beurden. The company came under fire from major investors over the weekend for allegedly not treating British investors on a par with Dutch shareholders. Shell cancelled a London event last year that provided a live TV link-up to its annual meeting in the Hague, angering British-based investors.

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By John Ficenec | Telegraph

OIL giant Shell (LSE: RDSB.Lnews) is to start a sale of up to $30bn (£18bn) of assets next year after a sharp fall in profits, it can be disclosed.

OIL giant Shell is to start a sale of up to $30bn (£18bn) of assets next year after weak refining margins and oil theft in Nigeria caused a sharp fall in profits, it can be disclosed.

Assets on the chopping block include a $7bn stake in Woodside Petroleum (Other OTC: WOPEFnews) , Australia’s second largest oil and gas producer; oil assets in the Niger Delta worth $2bn; and other assets totalling $20bn, according to oil and gas analysts from JP Morgan Cazenove. 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 sits out lobbying on Iran as Congress stands firm

The companies that have lobbied Congress this year have largely been U.S. divisions of larger international oil companies, such as BP America, part of London-based BP Plc and Shell Oil Co, the U.S. unit of Royal Dutch Shell Plc.

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By Timothy Gardner and Andy Sullivan: WASHINGTON Sun Dec 22, 2013 7:24am EST

(Reuters) – As debate rises in Washington over the first thaw in relations between Iran and the United States in decades, powerful oil companies are opting for an unusual tactic: silence.

Oil companies such as Exxon Mobil Corp and ConocoPhillips could earn huge profits if the United States loosened economic sanctions on Iran, allowing access to its oil and natural gas fields, some of the world’s largest and least costly to produce. 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 CEO says an Arctic offshore oil find would take years to bring on line

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By ALAN BAILEY: Petroleum News: December 20, 2013

Shell CEO Peter Voser said Dec. 11 that he anticipates oil production from the Alaska Arctic offshore to start during the second half of the next decade, if the company makes a discovery. For several years the company has been engaged in an exploration program on the outer continental shelf of the Alaska Chukchi and Beaufort seas but has yet to drill an exploratory well into a potential hydrocarbon zone.

Voser is leaving Shell in March and his remarks about his company’s Alaska plans came as part of an interview, posted on the Shell website, in which he commented on Shell’s business strategy and some of the issues facing the company as he prepares to hand over the management reins to his successor at the top. 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.

Russia starts pumping oil at Arctic rig raided by Greenpeace

Russia’s state-held energy giant Gazprom said Friday it had launched production at an Arctic oil rig raided in September by 30 Greenpeace activists whom the authorities later detained for two months.

The Japan Times

Dec 21, 2013

Russia’s state-held energy giant Gazprom said Friday it had launched production at an Arctic oil rig raided in September by 30 Greenpeace activists whom the authorities later detained for two months.

The landmark announcement marked the formal start of Russia’s long-planned effort to turn the vast oil and natural gas riches believed to be buried in the frozen waters into profits for its ambitious government-run firms.

But it also outraged campaigners who see the Arctic as one of the world’s last pristine reserves and say damage by oil spills and other disasters would be enormously difficult to contain. 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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