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Posts on ‘March 26th, 2015’

Why Shell Is Cutting Jobs In The North Sea

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Here’s Why Royal Dutch Shell Is Cutting Jobs In The North Sea

By: MICHEAL KAUFMAN: Published: Mar 26, 2015 at 1:13 pm EST

Royal Dutch Shell plc. (ADR) (NYSE:RDS.A) has announced to cut 250 jobs in the UK North Sea region. The move comes ahead of more than 50% decline in crude oil prices. As a result, life in the exploration and production companies has become difficult. The job cut announced by Shell comes just a week after the announcement of the treasury to offer tax cuts in order to stimulate growth in the industry.

The North Sea oil and gas sector holds great value to the state. The sector employs over 400,000 people and is estimated to have a worth around $7.47 billion. Despite the massive size of the sector, investment activity is slow. This is due to the high costs of production faced by the energy companies due to higher taxes and lower crude oil prices. Thus the tax cut by Britain was aimed at promoting investment in the sector. 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 led Corrib Gas Pipeline Project comes unstuck

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Screen Shot 2015-03-26 at 16.37.36Article by Norma Costello published 23 March 2015 by vice.com under the headline:

A Massive Pipe Came Loose in an Atlantic Gas Field and Irish Environmentalists Are Not Happy

The Corib Gas pipeline project by the Western Irish fishing village of Rossport, County Mayo, has always been a source of controversy. It was established amid arrests and police batons, against the wishes of locals and environmental protesters. The project is supposed to start pumping gas this summer, and those activists remain convinced that extracting fossil fuels from an area famed for its natural beauty is a bad idea.

Just over a week ago, an 800 metre pipe that was supposed to be fixed to the sea-bed floated to the surface. Feeling that their fears may have been justified, local activists are demanding that the Environmental Protection Agency (EPA) looks into it. I contacted the EPA who had previously said they would be investigating the issue. When I asked whether members of the EPA would visit the site, I was told they “don’t consider it necessary at this time”. 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 takes further steps away from Nigeria

Screen Shot 2015-03-15 at 18.29.05Article by Daniel J. Graeber published 26 March 2015 by UPI

Shell takes further steps away from Nigeria

ABUJA, Nigeria, March 26 (UPI) — The Nigerian subsidiary of Royal Dutch Shell said it made further progress in its divestment strategy by selling Niger Delta assets from $1.7 billion.

Shell Petroleum Development Co. of Nigeria said it completed the sale of oil mining lease 29 and the 62-mile long Nembe Creek pipeline to Aiteo Eastern E&P Co., a Nigerian company.

“This divestment is part of the strategic review of SPDC’s onshore portfolio and is in line with the federal government of Nigeria’s aim of developing Nigerian companies in the country’s upstream oil and gas business,” the Dutch supermajor said in a Wednesday statement. 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 to cut more UK North Sea jobs in 2015

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Thursday 26 March 2015

(Reuters) – Royal Dutch Shell (RDSa.L) is planning further job cuts in its UK North Sea oil and gas business in 2015, the company said on Thursday, just a week after a package of tax cuts from the Treasury aimed at encouraging growth in the industry.

“Shell UK plans to reduce the number of staff and agency contractors who support the company’s UK North Sea operations by at least 250 in 2015,” Shell said in an emailed statement.

The reduction is in addition to 250 job losses announced in August, Shell said, and follows North Sea job cuts by BP (BP.L), Talisman Sinopec, Chevron and ConocoPhillips. 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 sees only 15%-20% of Canada LNG projects advancing

Screen Shot 2015-01-12 at 08.45.23Article by Carl Surran published 25March 2015 by SeekingAlpha.com

Shell sees only 15%-20% of Canada LNG projects advancing

A top executive at Royal Dutch Shell (RDS.A, RDS.B) says he expects only 15%-20% of liquefied natural gas export projects already approved by the Canadian government to go ahead in the next decade.

Markus Hector, Shell’s general manager of global LNG, says the low forecast success rate is partly due to the scale of the infrastructure projects and the competition for people with the skills to build them.

Shell itself is the lead partner in a consortium planning the LNG Canada facility on British Columbia’s northern coast and is not expected to make a final investment decision until at least 2016. 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.

Nigeria: Shell completes $1.7 billion sale of Nigerian assets to Aiteo

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Screen Shot 2014-06-23 at 11.37.41Shell completes $1.7 billion sale of Nigerian assets to Aiteo

ABUJA (Reuters) – Oil major Shell said on Wendesday it completed the sale of its 30 percent stake in the Nigerian oil block 29 and the Nembe Creek trunk line to Aiteo Eastern Exploration and Production Co for $1.7 billion.

Total and Eni’s Nigerian arms also assigned their interests of 10 percent and 5 percent, respectively, to Aiteo, which ended up with a 45 percent interest in total for both assets.

(Reporting By Julia Payne; Editing by Tim Cocks)

© Thomson Reuters 2015 All rights reserved 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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