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Posts on ‘March 12th, 2015’

Oil companies offer to cut 2015 spending in Iraq

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Screen Shot 2015-02-18 at 13.17.14* Iraq seeks to stem losses from falling oil prices

* Calls on firms to reduce development costs

* Baghdad seeks amended contracts to “share risk”

* Says companies should maintain output despite changes

MR_Story By Ahmed Rasheed

BAGHDAD, March 12 ( Reuters ) – Oil companies have proposed millions of dollars of cuts in development spending in Iraq, a senior oil ministry official said, after Baghdad told them low oil prices and its fight against Islamic State had made payments difficult. 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 expects to drill offshore Alaska this year

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UPI article by Daniel J. Graeber published 12 March 2015

Shell’s preliminary drilling program in arctic waters offshore Alaska in 2012 was plagued by problems, including a grounded drilling rig, violations of air pollution limits, engine failures on a tow ship and an oil spill containment system damaged during testing.

THE HAGUE, Netherlands, March 12 (UPI) — Drilling in the arctic waters of Alaska should proceed this year assuming timely approval from the U.S. federal government, Royal Dutch Shell said Thursday.

Shell’s preliminary drilling program in arctic waters offshore Alaska in 2012 was plagued by problems, including a grounded drilling rig, violations of air pollution limits, engine failures on a tow ship and an oil spill containment system damaged during testing.

Shell Chief Executive Ben van Beurden said in an annual report, published Thursday, the Interior Department was reviewing a supplementary environmental impact statement on operations in the Chukchi and Beaufort seas. 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 CEO’s total pay soars to $25.7 mln

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Screen Shot 2014-09-07 at 21.14.49Thu Mar 12, 2015 8:09am EDT

(Reuters) – Royal Dutch Shell Chief Executive Ben van Beurden will earn a total 24.2 million euros ($26 million) for 2014, making him one of the highest-earning FTSE 100 bosses despite last year’s sharp fall in oil prices.

Van Beurden’s total pay includes 5.6 million euros in salary, bonus and shares plus pension and other items, the company said on Thursday.

His 2014 compensation, when calculated in British pounds, places him as the second-highest-paid senior executive on the FTSE 100 share index after WPP chief executive Martin Sorrell, whose 2013 pay package reached 29.8 million pounds, according to think tank High Pay Centre. 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 awards CEO van Beurden €24m pay package

Screen Shot 2014-09-07 at 21.14.10Royal Dutch Shell CEO Ben van Beurden qualifies as a genuine FAT CAT.

According to an FT article published today, Royal Dutch Shell’s chief executive Ben van Beurden has been awarded a total of €24.2m for his work last year, despite the fact that Shell’s shares have under-performed in the past 12 months. 

Extract from a related Dow Jones Report

For his first year as CEO of the Anglo-Dutch oil major in 2014, Mr. van Beurden received a salary of EUR1.4 million and a EUR3.3 million bonus. Despite a steep slide in oil prices over the past nine months, the company is proposing a 2.1% increase in the executive’s salary this year and a target bonus equal to 150% of the base salary. 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.

How Big Oil Is Profiting From the Slump

From an article by Javier Blas published 12 March 2015 by Bloomberg

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Screen Shot 2015-03-12 at 09.34.00(Bloomberg) — Europe’s largest oil companies are gaining support from an unlikely source as they confront the industry’s worst slump since the financial crisis: lower oil prices.

Although better known for their oil fields, refineries, and petrol stations, BP Plc, Royal Dutch Shell Plc and Total SA are also the world’s biggest oil traders, handling enough crude and refined products every day to meet the consumption of Japan, India, Germany, France, Italy, Spain and the Netherlands. 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 Publishes Annual Report and Form 20-F

Screen Shot 2015-03-12 at 09.21.50THE HAGUE, March 12, 2015 /PRNewswire/ —

Royal Dutch Shell plc (NYSE: RDS.A) (NYSE: RDS.B) Published its Annual Report and Form 20-F for the Year Ended December 31, 2014. 

The 2014 Annual Report and Form 20-F can be downloaded from http://www.shell.com/annualreport .

Separately, a 2014 Strategic Report can be downloaded from http://www.shell.com/annualreport .

Printed copies of the 2014 Annual Report and Form 20-F and 2014 Strategic Report will be available from April 16, 2015 and can be requested, free of charge, at http://www.shell.com/annualreport . 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.

Port: Enviros playing politics with suit against Shell Arctic fleet homeport

Screen Shot 2015-03-12 at 09.08.40From an article by Joel Connelly published 11 March 2015 by Seattlepi.com 

Port: Enviros playing politics with suit against Shell Arctic fleet homeport

Extracts

Environmentalists are using a court suit to pursue political goals and have no legal standing to block a lease that will base Shell’s Arctic oil drilling fleet at Terminal 5 on the Seattle waterfront, according to legal filings Wednesday by the Port of Seattle and Foss Maritime.

Shell is planning to go back to Arctic waters this summer. The company has already invested an estimated $5.8 billion in leases and equipment. An initial 2012 drilling effort turned into a fiasco, culminating when Shell’s conical drilling ship Kulluk ran aground while being towed back to Puget Sound waters. The ship was later taken apart in China. 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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