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Posts on ‘December 13th, 2014’

Talk of Shell BP tie-up to create £200bn world leader

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After a solid 10 hours locked in secret briefings at the Langham Hotel in London this week, 100 of BP’s top investors emerged into the crisp winter evening air to the grim news that oil prices had sunk to a new five-year low.

From an article in The Sunday Telegraph 14 December 2014 by Andrew Critchlow

UK oil giants fight for control in a current of falling prices

Investors in BP and Royal Dutch Shell – Britain’s biggest international oil companies – now find themselves caught in the crossfire of a much bigger game

After a solid 10 hours locked in secret briefings at the Langham Hotel in London this week, 100 of BP’s top investors emerged into the crisp winter evening air to the grim news that oil prices had sunk to a new five-year low.

Given the challenges facing big oil producers, the mood at the briefing, led by BP’s upstream chief executive Lamar McKay, was described as being “serious” by those present. However, the thought of US crude crashing below $60 (£38) per barrel, a baseline level that most oil majors use to stress test the profitability of their future projects, will have pushed sentiment to a new low. 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 keeps getting cheaper and cheaper

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FROM THE WASHINGTON POST ARTICLE BY CHRIS MOONEY PUBLISHED 12 Dec 2014

The basic reason oil keeps getting cheaper and cheaper

It may well take some time for supply and demand to respond to the price rout…

Extracts

Oil prices continued their slump even lower today, with West Texas Intermediate crude — a U.S. benchmark — now well below $60 per barrel. This is part of a momentous decline of over $40 per barrel since late June.

One catalyst today is the International Energy Agency’s release of its latest Oil Market Report, which lowered the agency’s forecast for global oil demand growth in 2015 by 230,000 barrels per day.

The report could not be more plain that the fundamental cause of the sharp oil price decline — whose knock-on effects include markedly lower gas prices in the U.S., and soon, perhaps, lower airfares — is an imbalance between supply and demand. 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.

Evil repercussions of Kiobel v. Royal Dutch Petroleum U.S. Supreme Court Decision

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Screen Shot 2014-10-30 at 09.22.43Plaintiff Esther Kiobel (L) joins a protest against Royal Dutch Shell Petroleum in front of the U.S. Supreme Court in Washington October 1, 2012. REUTERS/Gary Cameron

By John Donovan

Yesterday, Reuters published an article about the legal repercussions in the USA from the landmark decision in 2013 by the U.S. Supreme Court in the famed Kiobel v. Royal Dutch Petroleum co case.

Access is provided here to the 35 page judgement issued by the Supreme Court of the United States on April 17, 2013

Esther Kiobel is a regular visitor to this website and says that her husband Barinem Kiobel was executed by the Nigerian regime with the backing of Shell, which she has correctly described as an evil corporation. 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 prices continued their collapse on Friday

Screen Shot 2014-12-13 at 09.19.40Oil prices continued their collapse on Friday… The new rout began Friday morning… Gas prices will continue to be in a free fall as long as crude oil is searching for a bottom,” the AAA motor club reported on Friday.

From an article published by The New York Times on page B1 of the New York edition dated 13 December 2014

Oil Prices Fall Again, and Stocks Follow Suit

Extracts

Oil prices continued their collapse on Friday as evidence mounted that the frenzy of American oil production would continue well into 2015 even while growth in global demand was declining.

The global benchmark for crude approached $60 a barrel — down more than 3 percent on the day and roughly 45 percent since the summer. And the American benchmark continued its free fall as well, to below $58 a barrel, down around 4 percent. A day earlier, it sagged below $60 a barrel in the United States for the first time since 2009. 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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