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Posts on ‘July 16th, 2015’

Shell expects oil price recovery to take several years

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Screen Shot 2015-04-30 at 09.37.24Ron Bousso, Karolin Schaps and Dmitry Zhdannikov, Reuters

LONDON (Reuters) – Royal Dutch Shell expects oil prices to recover gradually over the next five years, with progress slowed by persistent global oversupply and receding Chinese demand growth.

The Anglo-Dutch energy giant is betting on crude rising to $90 a barrel by 2020, a key assumption in its move to buy rival BG Group for $70 billion to help transform it into a leading player in the costly deepwater oil production and liquefied natural gas (LNG) markets. 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’s Arctic Drilling Adventure Is a Disaster Waiting to Happen

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By Rebecca Leber: 15 July 2015

This month may mark the end of a decade-long saga that’s highlighted the lengths to which oil companies will go to drill in the Arctic—and the huge risks such endeavors entail.

If everything goes according to plan, Royal Dutch Shell will soon bury its first drill bit into the Arctic seabed since 2012. The exploration project, which began in 2005, has faced numerous setbacks—logistical issues, expensive equipment repairs, regulatory hurdles, environmental challenges. To date, Shell has sunk more than $7 billion into this hunt for oil and natural gas, and even if successful, it won’t see anything resembling financial success for more than a decade. But if it hits the substantial deposit of oil it believes to be under the Chukchi Sea, the payoff could be enormous. 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.

Environmentalists insist feds must block Shell’s Arctic drilling while icebreaker is away

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Screen Shot 2015-06-30 at 21.06.27By Jennifer A. Dlouhy: 15 July 2015

WASHINGTON — The Obama administration cannot allow Shell to launch exploratory oil drilling in the Arctic Ocean — even initial site preparation — without the company’s two contracted icebreakers on site, environmentalists argue.

One of those icebreakers, the MSV Fennica, is headed to Oregon for repairs after its hull was gouged July 3, and it could be weeks before it is able to patrol the waters around Shell’s drilling site in the Chukchi Sea. 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.

We are engaged, Shell says after Iranian deal

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“Shell continues to comply with all relevant international sanctions”

By Daniel J. Graeber

DUBAI, United Arab Emirates, July 14 (UPI) — With a nuclear deal in hand, Royal Dutch Shell said Tuesday it’s exploring the “immediate and long-term” implication of an opening Iranian oil door.

Representatives from the five permanent members of the U.N. Security Council, Germany and Iran announced the signing of a breakthrough agreement that pulls Iran back from the brink of developing a nuclear weapons program in exchange for sweeping and staged relief from economic sanctions. 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 drop ‘Oil’ from its name? Um, no.

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By Tony Dokoupil: 15 July 2015

It seemed like a hopeful sign of the times: News that Shell Oil might soon drop the word “oil” from its name. British Petroleum made a similar move not long ago, rechristening itself as BP, a company with a vision “beyond petroleum.”

But alas, Shell is not changing its name. “We are not,” Shell spokesperson Curtis Smith told msnbc in a brief statement, the company’s first definitive denial of the rumor.   

As if to prove the point, Shell Oil—the U.S. unit of Royal Dutch Shell, Europe’s biggest oil company—is right now amassing a multi-billion dollar team in Alaska. In the days to come, it plans to drill in the icy waters offshore, opening the largest untapped oil reserve on the planet. While in the area, it will not be putting up solar panels and praying to the sun gods. 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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