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Posts on ‘November 25th, 2014’

Nigeria Suffers After Closure Of Shell‘s Pipeline

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Nigeria was already under pressure from lower US oil imports due to the US shale boom but the closure of Shell‘s pipeline due to leakage and theft has worsened conditions for the economy

Published: November 25, 2014 at 3:23 pm EST
By: Micheal Kaufman

Nigeria is amongst those members of the Organization of Petroleum Exporting Countries (OPEC) which have suffered the most due to the US shale boom. The oil boom has allowed the US to reduce its dependability on the OPEC for oil imports. Higher oil production coupled with lower demand has led to a fall in the oil price. Since June, crude price has plummeted over 32%.

The quality of Nigerian crude oil is quite similar to the shale oil that is now produced in the US region of North Dakota, and consequently has helped to lower US’ demand for oil imports from Nigeria. This has become a major source of concern for Nigeria as the nation is currently not exporting any oil to the US, compared to exports of 1.3 million barrels per day (bpd) since February 2006. 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 Corrib Gas Field testing being carried out illegally?

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A 40m gas flare from the Ocean Guardian drilling rig during a well production test at the Corrib field, 80kms off Co Mayo. Photograph: Shell E&P Ireland Ltd

By John Donovan

Last Wednesday The Irish Times reported that Shell E&P Ireland has begun two months of testing at its north Mayo onshore refinery in preparation for next year’s scheduled production from the Corrib gas field.

I understand from a usually well informed source that the testing is being carried out without an Integrated Pollution Prevention and Control Licence

According to my source, the licence expired on 14 November 2014.

Irish Citizens please take note: I further understand that there is provision under the Irish Environmental Protection Agency rules for any citizen to seek a High Court order where an activity is being carried out in contravention of licensing requirements. 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.

Oil price slump

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Vladimir Putin has said that Russia could suffer “catastrophic consequences” from sanctions, the falling oil price and the sliding rouble, while claiming they would have knock-on effects for other countries.

Prices could plunge to $60 US a barrel if OPEC does not agree to a significant output cut this week, according to market players.

Lower oil prices, while good for the broader U.S. economy, are a threat to what has been a surprising and dramatic surge in oil production in the U.S., and to drilling communities that have come to depend on oil money.  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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