Posts on ‘May 14th, 2015’

Heather Graf, KING-TV, Seattle: May 14, 2015

Oil rig on move to Seattle, protesters expected

SEATTLE — A massive offshore drilling rig left Port Angeles, Wash., early Thursday and is expected here later in the day.

The 400-foot long Polar Pioneer began moving out of Port Angeles at about 1:40 a.m. PT. The rig is expected to arrive here around 5 p.m. PT, traveling about 120 miles, the Coast Guard said.

The Polar Pioneer is one of the rigs that Netherlands-based Royal Dutch Shell petroleum plans to use as it moves ahead with plans to use leased space at the Port of Seattle to load drilling rigs and other vessels with supplies and personnel. It is preparing to explore for oil this summer in the Chukchi Sea off Alaska’s northwest coast. read more

By Lauren Krugel, The Canadian Press Posted: May 13, 2015

Shell exploration plans in Alaska stoke concern, hope in Canada

Royal Dutch Shell’s plans to explore for oil off Alaska’s northwestern coast are being closely watched in Canada with a mixture of hope and concern. 

Earlier this week, the energy giant cleared a major hurdle when the U.S. Bureau of Ocean Energy Management approved a multi-year exploration plan in the Chukchi Sea, though it still needs to obtain other federal and state permits.

Shell isn’t active in the Canadian Arctic these days, but both proponents and critics say the U.S. decision has implications for Canada. read more

ANCHORAGE, Alaska (AP) — Royal Dutch Shell is planning to park two massive Arctic oil drilling rigs in Seattle’s waterfront before they head north — but the petrochemical giant will first have to get around protesters in kayaks and others who want to thwart the new frontier in oil exploration and spark a national debate about fossil fuels and climate change.

Here’s a look at the debate over Shell’s plans to drill in the Arctic:

WHAT’S AT STAKE?

The U.S. Geological Survey estimates Arctic offshore reserves at 26 billion barrels of recoverable oil and 130 trillion cubic feet of natural gas. read more

By: MICHEAL KAUFMAN: Published: May 14, 2015 

Environmentalists have planned to confront Royal Dutch Shell Plc’s (ADR) (NYSE:RDS.A) oil rigs, which are set to arrive at Seattle’s port this week. The oil company plans to use them in the Arctic later this year.

Shell has been planning to go back to the Arctic, in pursuit of the vast oil resources in the region. However, the oil giant has faced severe opposition from environmental groups, who argue that the company lacks the ability to clean up any potential disasters.

In the latest hurdle to Shell’s Arctic plans, environmentalists have organized the “festival of resistance”, a three-day event that would include confronting the oil company’s drilling rigs as they are on their way to Seattle. The festival, set to start on Saturday, would see environmentalists approach the rigs, when they reach Elliott Bay. read more

Unanswered questions on Nigeria’s missing oil revenue billions

By Lamido Sanusi (Former Gov. Central Bank of Nigeria)

Just over a year ago President Goodluck Jonathan suspended me from my position as governor of the Central Bank of Nigeria after I questioned an estimated $20bn shortfall in oil revenues due to the treasury from the state oil company. As I said then, you can suspend a man, but you cannot suspend the truth. The publication last month of a PwC audit into the “missing billions” brings us a step closer to it. read more

As Royal Dutch Shell seeks to finalise its £55bn takeover of smaller UK-based rival BG Group, it will be closely watching the situation at Petrobras, Brazil’s state-controlled oil company that is engulfed in scandal.

FULL ARTICLE WITH WORKING LINKS

Shell considers small North America energy deals even after BG

Deals | Thu May 14, 2015 12:58am BST

Royal Dutch Shell Plc (RDSa.L) will consider small additions to its North America oil and gas business, despite ruling out large acquisitions after its deal to buy BG Group Plc (BG.L), Marvin Odum, director of Shell’s Americas exploration and production business, said in an interview Wednesday.

Shell has said its cash reserves are limited after the $70 billion deal announced on April 8, the first major energy industry merger in more than a decade that will bolster Shell’s global presence and increase its proven oil and gas reserves by 20 percent. read more

By Rupert Hargreaves – Wednesday, 13 May, 2015

BG (LSE: BG) and Royal Dutch Shell’s (LSE: RDSB) mega-merger is the largest deal the oil & gas sector has seen for some time. However, the combination isn’t a done deal just yet. 

There are still many kinks to iron out, and the deal has to get the green light from regulators. What’s more, Shell could decide to walk away if the numbers don’t stack up

Poor results 

BG has been struggling for some time, and the group’s recent set of results highlighted the company’s troubles. Specifically, BG’s first-quarter net profit fell 51% to £366m and revenue slumped by 21% to £2.6bn as weak oil prices weighed on group profits. read more

By Coral Garnick and Hal Bernton: Seattle Times staff reporters: Published 13 May 2015

Shell oil rig arriving Thursday is just the start of Arctic drilling fleet

The Polar Pioneer oil rig expected to arrive in Seattle on Thursday is the biggest piece of a 25-vessel fleet Shell Oil has mustered to resume its oil exploration effort in the Chukchi Sea off Alaska.

The Polar Pioneer oil rig expected to arrive in Seattle on Thursday is the biggest piece of a muscular fleet Shell Oil has mustered in the Pacific Northwest to resume its controversial high-stakes oil-exploration effort in the Chukchi Sea off Alaska’s North Slope.

The company will have 25 vessels in and out of the Pacific Northwest in preparation for the season, according to spokeswoman Kelly op de Weegh, but Shell has been tight-lipped about detailing its plans.

At Terminal 5 — now the center of a legal and political standoff between the city and the Port of Seattle — Shell contractor Foss Maritime plans to load drilling equipment and supplies for the two main vessels, the Polar Pioneer and the Noble Discoverer. read more

Article by Joby Warrick published 13 May 2015 by The Washington Post

UN climate official pans idea of Arctic drilling in subtle slap at Obama administration

The United Nations’ top climate official took a subtle poke at the Obama administration on Wednesday over its decision to conditionally allow oil exploration off Alaska’s coast, suggesting that the Arctic’s oil and gas should stay underground.

Despite the tentative green light given to Shell Gulf of Mexico earlier this week, both the environment and Shell’s stockholders would be best served if such projects are shelved, said Christiana Figueres, the executive director of the U.N. Framework Convention on Climate Change. read more