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Posts on ‘February 26th, 2015’

High Court dismisses Shell Centre challenge

From an article by Allister Hayman published 25 Feb 2015 by PropertyWeek.com

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High Court dismisses Shell Centre challenge

A judge has rejected a legal challenge to Eric Pickles’ decision to approve the controversial £1.2bn redevelopment of the Shell Centre.

The ruling today means joint venture developers Canary Wharf Group and Qatari Diar can now proceed with their redevelopment of the 27-storey Shell Centre tower, which includes eight new buildings and comprises 800,000 sq ft of office space, 80,000 sq ft of retail, restaurants and cafés, and up to 790 new homes.

The ruling looks set to bring to an end a long battle over the scheme on the River Thames. 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.

Houston We Have A Problem: Oil Workers Strike For Safety & Fair Labor

Article by Alvaro Rodriguez and Jane Nguyen published 25 Feb 2015 by MINTPRESS NEWS under the headline:

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Oil workers holding picket signs in front of the Shell oil refinery in the Houston Ship Channel

In the largest strike since 1980, oil workers who are members of United Steelworkers District 13 locals (Locals 13-1 and Local 13-227) are no longer on the job in the Houston Ship Channel, the largest petrochemical complex in the world. The strike kicked off on February 1, 2015.

The three plants impacted by the strike in Houston include Shell Oil Refinery and Chemical Plant, LyondellBasell Refinery and Marathon (refinery and cogeneration facility).

The union is under attack in Texas, with USW members locked out at the Sherwin Alumina plant in Corpus Christi and the ASARCO facility in Amarillo. The attack on the union is occurring while the industry made record profits. Royal Dutch Shell announced earnings of $19 billion in 2014. LyondellBasell had record profits of $7.1 billion (EBITD) in 2014, cash generation of $6.0 billion. These profits in large part went to reward stock holders rather than repairs — with stock repurchases prioritized over worker safety —  to the tune of $7.2 billion in dividends. This largesse extended to a jump in compensation for their corporate officers. 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.

That sinking Feeling

Financial Times article by Christopher Adams, Michael Kavanagh and Chris Tighe: 25 Feb 2015

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That sinking feeling

North Sea oil was a challenge before prices halved. Now the UK industry fears a fatal blow

The plunge in prices, a tax system that deters investment and a failure by producers to co-operate could lead to a wave of early field closures and accelerated moves to decommissioning.

FULL ARTICLE

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.

Keystone and the Riddle of the Tar Sands

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BY MARK DOWIE 2/25/15 AT 10:49 PM

Late 21st-century graduate students of business studying the growing problem of stranded assets will almost certainly focus on the history of Canada’s Athabasca Oil Sands (a.k.a. the tar sands). The case studies they read will either describe the gradual abandonment of the world’s largest reserve of bituminous crude or they will read about the tar sands’ miraculous last-minute escape from becoming the world’s largest stranded asset.

For either outcome, the turning point they will look back on is just about now. 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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