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Posts on ‘December 4th, 2014’

Will falling oil prices curb America’s shale boom?

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This time some of the pain will be taken by the big integrated energy firms, such as Exxon Mobil and Shell. After a decade of throwing shareholders’ cash at prospects in the Arctic and deep tropical waters to little effect, they began cutting budgets in 2013.

Extracts from an article published by The Economist on 6 December 2014

In a bind

Screen Shot 2014-12-04 at 21.34.15Abundant oil and gas have been extracted from underground rocks by blasting them with a mixture of water, chemicals and sand—“fracking”, in the jargon.

…the firms responsible embody an all-American formula of maverick engineers, bold entrepreneurs and risk-hungry capital markets that no country can match.

Yet now that oil prices have fallen by almost 40% in six months, these firms’ mettle is being tested. Across America shale-shocked executives will spend Christmas overhauling their strategies to cope with life at $70 per barrel, even as investors dump their firms’ shares and bonds. 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.

Church of England investors file shareholder resolutions at BP and Shell

Screen Shot 2014-12-04 at 20.55.28The Church Commissioners and Church of England Pensions Board have announced this week that they are in the process of co-filing shareholder resolutions on climate change at the AGMs of two of world’s biggest oil and gas companies – BP and Shell.

Church investors file shareholder resolutions at BP and Shell

By Edward Mason, Church Commissioners Head of Responsible Investment

The Church Commissioners and Church of England Pensions Board have announced this week that they are in the process of co-filing shareholder resolutions on climate change at the AGMs of two of world’s biggest oil and gas companies – BP and Shell. This is one of the ways in which the Church of England’s national investing bodies are deepening and strengthening their engagement with the businesses in which they invest on the ethical issues that are of the greatest importance to the Church. 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 settles Californian environmental contamination lawsuit for $91 million

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Shell’s settlement with 1,491 residents will be a total of $90 million

From The Daily Breeze

City officials have announced final settlement agreements involving Shell Oil Co., the city, and hundreds of current and former residents of the Carousel neighborhood in the city’s southern end over a contamination lawsuit stemming from a former oil tank farm at the site.

The details of the two separate settlements between Shell and the city, and Shell and residents, weren’t disclosed during Tuesday night’s City Council meeting. But Shell’s settlement with 1,491 residents will be a total of $90 million divided with attorneys and disbursed by a mediator based on health and property damage claims, according to documents obtained by the Daily Breeze. 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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