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Posts on ‘October 3rd, 2015’

Shell may post loss after taking £2.7bn Arctic exploration hit

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By Jon Rees For The Mail On Sunday: 4 Oct 2015

Shell is set to reveal that quitting the Arctic cost it up to $4.1billion (£2.7billion) in its third-quarter results when it unveils them later this month – in a move that could push the oil giant into reporting a loss.

The firm took investors and its environmental opponents by surprise when it announced last week that it would end its drilling programme in the Chukchi Sea, 150 miles off the north-west coast of Alaska.

It said it had found indications of oil and gas but not enough to justify further exploration. read more

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What Shell’s latest move says about Arctic drilling myths

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Screen Shot 2015-10-03 at 14.26.20By  Scott L. Montgomery OCTOBER 1, 2015

The company’s departure is certainly a pause in a new era of Arctic exploration, but it’s not the end.

After seven years of preparation and several billion dollars spent, Shell has decided to abandon its exploration program in the U.S. Arctic “for the foreseeable future.” This follows barely two months’ drilling in the Chukchi Sea at the company’s Burger J well, located 150 miles northwest of Barrow, Alaska. Evaluation of all data revealed “indications” of oil and gas but not enough to justify further activity in today’s low price environment. read more

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Shell-BG Deal Could Face Regulatory Sanctions, But Shell Will Do Everything It Can To Save Deal

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Trefis Team, CONTRIBUTOR: 2 Oct 2015

Ever since announcing the $70 billion deal to acquire BG Group back in April, Royal Dutch Shell Plc. has been busy these last few months obtaining the required merger related approvals from various regulatory authorities. After obtaining the required clearances in Brazil, the U.S., and Europe, the process hit a snag in Australia. This is not surprising as Australia is significantly more affected by the deal in comparison to the other countries. We believe that the Australian competition authority could ask Shell to divest some of its holdings before giving the necessary clearance to the deal and the company could face similar demands from Chinese regulators as well. We also believe that Shell will agree to the conditions imposed (if any) as the company stands to benefit from the merger in the long run. The deal will allow Shell to consolidate its leadership position in the global Liquefied Natural Gas market and increase its exposure towards the exploration and development of deepwater hydrocarbon reserves, primarily the pre-salt reserves offshore Brazil. read more

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Shell’s Exit From Arctic Oil Drilling

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Screen Shot 2015-08-13 at 11.35.25LETTER TO THE EDITOR OF THE NEW YORK TIMES

“I am hesitant to pop open the Champagne quite yet…”

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To the Editor:

Re “Shell Pulls Plug on Exploration in Alaska Arctic” (front page, Sept. 29):

While the news that Shell has decided to pull out of its controversial Arctic oil exploration effort is cause for celebration for many environmentalists, I am hesitant to pop open the Champagne quite yet.

I find it hard to celebrate knowing that Shell’s withdrawal is the result of an oversaturated oil market fattened on shale oil from the Bakken formation and an OPEC overproduction of 1 million barrels above the cartel’s target output. Shell’s Arctic exit is a business decision in response to low oil prices due to a slowing economy and a glut of supply, both temporary conditions that do nothing to preclude a return to Arctic exploration once these conditions expire. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell and BP make new inroads in Iran

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Saeed Kamali Dehghan and Terry Macalister

Friday 2 October 2015 20.30 BST

The possibility of a major British oil company regaining access to one of the world’s great hydrocarbon markets rose on Friday with officials in Tehran saying Shell would be allowed to build 100 petrol stations in Iran.

FULL ARTICLE

RELATED

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TEHRAN, Oct. 3 (MNA) – A number of senior executives of the Anglo-Dutch Shell Oil Company have travelled to Iran to meet and talk with the officials at the National Iranian Oil Company (NIOC).

Accordingly, the senior managers of Royal Dutch Shell Company, commonly known as Shell, are scheduled to stay in Tehran for four days to meet and talk with authorities of NIOC, Oil Ministry’s officials as well as some investors in the private sector. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell CEO Ben van Beurden says carbon price needed to tackle climate change

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“Shell’s track record on climate change does not inspire us with confidence...”

By business reporter Michael Janda and staff: 2 Oct 2015

Shell’s global chief executive says an effective carbon price is needed to tackle climate change, whether through a trading or tax system.

Speaking exclusively to ABC TV’s The Business, Ben van Beurden said a price on carbon was necessary to discourage pollution.

“Putting, in one form or another, a real, clear price on carbon that compels people to act with rational economic actions, I think is something that we need,” he told presenter Ticky Fullerton.

When pressed over the Government’s current Direct Action plan, which provides funding for programs to cut emissions rather than charging heavy emitters, Mr van Beurden said the design of the system was a matter for politicians in each country. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Work to begin on Motiva’s $500M Maurepas Pipeline by end of this year

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Anna Thibodeaux: October 3, 2015

Construction will begin on Motiva’s $500 million Maurepas Pipeline in the fourth quarter of this year.

“The Maurepas Pipeline is the initial step for Motiva to interconnect and optimize its Gulf Coast refinery operations,” said Kiley Roberson, company spokesman for Tulsa, Okla.-based SemGroup Corp., which will build and own the pipeline.

SemGroup has partnered with Rose Rock Midstream, which will serve as the pipeline operator.

“The Maurepas Pipeline project is a critical first step for Motiva to connect its two refineries in Louisiana to create what Motiva calls its Louisiana Refining System,” Roberson said. “With an integrated crude capacity over 500,000 barrels per day, Motiva’s Louisiana Refining System will rank in the top five of North American refineries in terms of total capacity, creating significant value for Motiva.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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