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Posts on ‘November 28th, 2014’

Falling oil prices hit Africa more than Ebola

Screen Shot 2014-11-25 at 00.11.12By Ed Cropley

JOHANNESBURG, Nov 27 (Reuters) – Plunging world oil prices have dealt a blow to Africa far greater – in purely economic terms – than Ebola, setting back investment in exploration and plans to industrialise.

The highest profile victim so far has been Africa’s top producer, Nigeria, which was forced to devalue its naira currency by 8 percent this week after the central bank admitted dwindling reserves were making it hard to defend it.

In dollar terms, the devaluation knocked $40 billion off the value of Nigeria’s economy – considerably more than the $32 billion worst-case scenario the World Bank projected in October for Ebola’s economic impact on the entire sub-Saharan region. read more

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Big Oil Optimistic On Gulf Of Mexico Projects

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After the 2010 Deep Water Horizon oil spill disaster, it seems that economic activity in the Gulf of Mexico has picked up again as big oil companies, like BP and Shell, have started to undertake major projects in the region

Published: November 25, 2014 at 7:13 am EST

By: Micheal Kaufman

The Gulf of Mexico used to be the hub of US crude oil and natural gas industry, before the Deep Water Horizon oil spill in 2010. BP plc (ADR) (NYSE:BP) along with Transocean Ltd (NYSE:RIG) and Halliburton Company (NYSE:HAL) got involved in a massive oil spill in 2010, which killed 11 people and caused major environmental damages. The 2010 oil spill is estimated to be 8-31% larger than Ixtoc 1, which has now become the second-largest oil spill to have occurred in the region. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell admits fracking failure in Ukraine

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Screen Shot 2014-10-30 at 09.22.43By John Donovan

The Russian News Agency Tass is reporting that Graham Tiley, the country manager of Shell Ukraine has admitted in a meeting with a local high-ranking official that Royal Dutch Shell has failed to achieve the desired progress in the Yuzovka gas field in Ukraine’s east.  Tiley blamed the fracking failure on the situation in the neighbouring Donetsk region.

TASS REPORT

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Oil prices continue to fall

Screen Shot 2014-11-25 at 00.11.12Shell, BP and Petrofac shares close down as Opec decides not to cut oil production. Stocks of major oil producers were in the firing line as their profits are hugely dependent on the price of oil they extract. Royal Dutch Shell, for example, fell 4.3 percent while Total SA dropped 4.1 percent.

LONDON — Oil companies saw their shares take a beating Thursday as crude prices slid to their lowest in more than four years after OPEC’s decision to maintain production levels even though prices have fallen sharply in recent weeks.

Unsurprisingly, the stocks of major oil producers were in the firing line as their profits are hugely dependent on the price of oil they extract. Royal Dutch Shell, for example, fell 4.3 percent while Total SA dropped 4.1 percent.

FULL ARTICLE

Oil prices have fallen 30 per cent this year, as a glut in supply was exacerbated by a boom in shale gas in the US. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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