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Posts on ‘January 19th, 2015’

Shell stokes up its fire sale

Screen Shot 2014-06-23 at 11.37.41Introduction by John Donovan

Bloomberg is reporting that Shell has agreed to sell its stake in the Bijupira and Salema fields in Brazil. This development is no doubt in response to the collapse in oil prices and is stoking up the fire sale instituted by CEO Ben van Beurden when Shell announced a profits warning a year ago.

Extract from Bloomberg article

Royal Dutch Shell Plc (RDSA), the second-largest oil operator in Brazil, is selling a stake in one of its oil-producing projects in the country to HRT Participacoes em Petroleo SA (HRTP3), two people with knowledge of the matter said.

HRT, based in Rio de Janeiro, agreed to buy Shell’s 80 percent stake in the Bijupira and Salema fields, an offshore venture that started production in 2003, the people said, asking not to be identified because the deal hasn’t been made public. HRT will boost production to more than 30,000 barrels a day with the purchase, one of the people said. read more and its sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

Oil Prices Start Week in Negative Territory

Screen Shot 2015-01-13 at 09.23.28From an article by Georgi Kantchev published by the Wall Street Journal 19 Jan 2015 unde the headline:

“Oil Prices Start Week in Negative Territory”


LONDON—Oil prices started the week in negative territory on expectations that a sustained recovery is still a long way off. …analysts said they see little evidence that the combination of oversupply and sluggish demand that has pummeled prices since last summer is abating. “Despite a nearly 60% fall in oil prices since mid-2014, oil market balances remain weak, with prospects of a recovery looking dim until the latter months of 2015…”


From an article by Ladane Nasseri published by Bloomberg on 19 Jan 2015 under the headline: 

“Iran Blames Oil-Price Plunge for Delay in Saudi Visit”


A meeting between the foreign ministers of OPEC’s Iran and Saudi Arabia was delayed in part due to discord over falling crude prices, said Hossein Amir-Abdollahian, Iran’s deputy foreign minister for Arab and African affairs. read more and its sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.
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