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Posts on ‘March 18th, 2014’

Shell’s CEO says the company plans to leave the Eagle Ford Shale

Screen Shot 2014-02-10 at 16.29.29Extract from an article by Sanford Nowlin published on 18 March 2014 by San Antonio Business Journal.

Oil-and-gas giant Royal Dutch Shell PLC will unload its investments in South Texas’ Eagle Ford Shale and cut U.S. capital spending by 20 percent after disappointing results from its domestic shale operations.

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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 Drowning in Extremely High Project Costs

Screen Shot 2014-02-18 at 18.34.00Extracts from a Matt DiLallo article published 17 March 2014 by The Motley Fool

Big oil has a big problem. Cost overruns around the globe are calling into question the commercial viability of many megaprojects. When Gorgon was approved, the project was expected to cost about $37 billion. However, late last year, Chevron raised the estimate to as high as $54 billion. That’s 46% higher than initially expected, and it might not be the end of the cost overruns. The project, in which both ExxonMobil and Royal Dutch Shell own a 25% stake, could end up costing the partners close to $60 billion when all is said and done. …big oil is facing big cost overruns in deepwater projects. The poster child for that is the Kashagan oilfield in the Caspian Sea. Partners that include Royal Dutch Shell and ExxonMobil spent $50 billion to develop the field, which was beset with delays, cost overruns, and technical difficulties. Worse yet, initial production volumes didn’t live up to expectations, and more recently, a new problem has surfaced, which is why the field is currently sitting idle. 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 Nigeria Oil Terminal Remains Closed After Leak Found

Screen Shot 2012-12-10 at 09.32.42Extracts from a Sarah Kent article published by The Wall Street Journal on 17 March 2014

LONDON–Exports from a major oil terminal in Nigeria operated by a unit of Royal Dutch Shell PLC (RDSA) remain shut-in nearly two weeks after the discovery of a leak in the export pipeline, a spokesman for the company said Monday.

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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.

Niger Delta Communities Pressure Shell on 2011 Oil Spill

Screen Shot 2012-09-23 at 09.10.37

Screen Shot 2014-02-10 at 16.29.29Extracts from a Heather Murdock article published on 17 March 2014 by Voice of America

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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.

Phillips 66, Shell Purchase Majority of U.S. Reserve Oil Sale

Screen Shot 2014-02-10 at 16.29.29Extracts from an article by Dan Murtaugh published 17 March 2014 by BloombergBusinessweek

Phillips 66 and Royal Dutch Shell Plc walked away with about 3.3 million barrels of the 5 million that the Energy Department sold in what will be the first release from the U.S. Strategic Petroleum Reserve since 2012. Phillips 66 purchased 2.04 million barrels at an average price of $100.23 a barrel. Shell bought 1.22 million for $97.53.

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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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