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October, 2015:

Saudi Arabia’s Oil War With Russia

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By Leonid Bershidsky: Oct 16, 2015

As President Vladimir Putin tries to restore Russia as a major player in the Middle East, Saudi Arabia is starting to attack on Russia’s traditional stomping ground by supplying lower-priced crude oil to Poland.

At a recent investment forum, Igor Sechin, chief executive of Rosneft, Russia’s biggest oil company, complained about the Saudis’ entry into the Polish market. “They’re dumping actively,” he said. Other Russian oil executives are worried, too. “Isn’t this move a first step toward a redivision of Western markets?” Nikolai Rubchenkov, an executive at Tatneft, said at an oil roundtable Thursday. “Shouldn’t the government’s energy strategy contain some measures to safeguard Russia’s interests in its existing Western markets?” read more

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SUPP concerned over oil and gas retrenchments in Sarawak

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Screen Shot 2015-09-17 at 07.55.40BY STEPHEN THEN: 17 Oct 2015

MIRI: The Sarawak United People’s Party (SUPP) has expressed concerns over an imminent downsizing of staff in the oil and gas industry, said SUPP secretary general Datuk Sebastian Ting (pic) and SUPP information chief Adam Yii

The two told a press conference here that downsizing would also affect oil and gas industry staff working in Miri, adding that affected workers were worried about their fate.

“SUPP has received information that Shell will carry out a restructuring of their businesses in the country and that Sarawak will also be affected, especially Miri,” said Ting. read more

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U.S. Cancels Remaining Arctic Oil Lease Sales Under Obama

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Brian Wingfield and Joe Carroll: BLOOMBERG.COM: 17 October 2015

The U.S. Interior Department effectively halted drilling off Alaska’s coast for the remainder of President Barack Obama’s term by canceling two sales of Arctic oil and gas leases.

The decision comes less than a month after Royal Dutch Shell Plc said it would indefinitely cease exploration in the region as the company didn’t find sufficient quantities of oil or gas in a Chukchi Sea drilling zone.

“In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half,” Interior Secretary Sally Jewell said in a statement on Friday. read more

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Nigeria President Escalates Campaign to Stem Corruption

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Screen Shot 2015-10-12 at 15.59.11In recent days, the campaign escalated with the arrest of two high-profile figures: Diezani Alison-Madueke, the former oil minister whose five-year tenure was marred by recurring accusations of widespread theft; and Olajide Omokore, the chairman of a Nigerian oil company. Both were held as part of inquiries into corruption and money laundering.

By NORIMITSU ONISHIOCT. 16, 2015

ABUJA, Nigeria — Private jets that used to crowd the airport here have been grounded, their wings clipped by the new government’s crackdown on corruption. Rolls-Royces, Range Rovers and Jaguars are gathering dust in the showroom of this capital’s top car dealer. Luxury villas are left unsold, as is the fine Italian marble used to bedeck the homes of Nigeria’s newly rich.

Since assuming power in May on a pledge to root out the graft that has long permeated Nigeria, President Muhammadu Buhari has squeezed the flow of public funds in an effort to clean up Africa’s biggest economy. read more

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US curbs Arctic offshore oil and gas drilling

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The US government has announced new curbs on oil and gas exploration in Arctic waters off Alaska’s northern coast.

It comes after oil giant Royal Dutch Shell last month stopped its Arctic activity citing “disappointing” tests.

The US interior department said it was cancelling two potential Arctic offshore lease sales and would not extend current leases.

The announcement has been welcomed by environmentalists.

Miyoko Sakashita, of the Center for Biological Diversity, said the decision was “great for the Arctic and its polar bears”. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

U.S. Blocks Alaskan Arctic Drilling for 2 Years

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Screen Shot 2015-10-05 at 14.03.31By CLIFFORD KRAUSSOCT. 16, 2015

HOUSTON — The Obama administration shut the door Friday on drilling in Alaska’s Arctic Ocean over the next two years, canceling auctions for drilling rights in the Chukchi and Beaufort seas.

The decision by the Interior Department was not surprising because it came less than a month after Shell Oil canceled the most advanced exploration project in the region because of disappointing results from a test well and high costs at a time when oil prices are extremely low.

Still, the announcement is symbolically important as the administration steps back from its cautious support of drilling in the Arctic. read more

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Big Oil’s Murky Climate

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Big Oil truly is facing a conundrum of biblical proportions

Liam Denning: Bloomberg.com: October 16, 2015

Big Oil is getting religion — sort of.

Ten major oil companies including Royal Dutch Shell, BP and Saudi Aramco declared on Friday that they totally get the climate change thing and would support measures aimed at preventing it. 

Yet, without committing to the most obvious measure to encourage fundamental change — namely, widespread carbon pricing — you could say the Oil and Gas Climate Initiative has taken a leaf from St. Augustine: yearning to be pure, just not quite yet.

The announcement comes ahead of December’s UN climate conference in Paris and not long after a more modern cleric, Pope Francis, took his call for greater efforts to curb carbon emissions directly to Congress. read more

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U.S. cancels Arctic offshore lease sale after Shell drops interest

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Screen Shot 2015-10-05 at 14.03.31WASHINGTON: Fri Oct 16, 2015

The U.S. Interior Department on Friday said it would cancel two potential Arctic offshore lease sales after Royal Dutch Shell PLC (RDSa.L) said that it was not interested in those leases.

“In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half,” Interior Secretary Sally Jewell said in a statement.

Shell said last month it was giving up its Arctic search for oil after failing to find enough crude oil. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Why We Believe Shell’s Stock Is Worth $62

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Screen Shot 2015-09-17 at 07.55.40Trefis Team, CONTRIBUTOR: Oct 16, 2015

Royal Dutch Shell Plc. is one of the world’s leading oil & gas companies with operations all across the globe. The company has been hit hard by the current downtrend of low crude oil prices and its average price realizations in both upstream and downstream segments have suffered as a result. Consequently, we believe that Royal Dutch Shell’s Trefis adjusted total revenue for the year 2015 will decline by close to 30% as compared to last year and amount to $337.3 billion (Calculated revenue figures not subjected to any intersegment elimination). However, we believe that a gradual recovery in oil prices in subsequent years will lead to a period of growth in Royal Dutch Shell’s revenues and the company’s revenues will be just shy of $450 billion by the end of our forecast period (2022). Our price target for Royal Dutch Shell stands at $62, implying a premium of more than 10% to the market. In this piece, we try to analyze some of the key drivers we have used in our valuation of Royal Dutch Shell. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

BP plc, Royal Dutch Shell And Others Declare Joint Action On Climate Change

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Screen Shot 2015-10-16 at 22.05.20By: Micheal Kaufman: Oct 16, 2015 

Global warming over the past few years has become a major issue. Companies around the world keep on pumping and burning record levels of conventional fossil fuels. Burning of fossil fuels leads to carbon emissions, which are highly detrimental for the environment. Activists have now have taken a stern hand regarding pollution and are urging companies to adopt safer cleaner fuels. President Barack Obama recently also stressed upon the importance of using alternatives, such as natural gas, which are safer for the environment. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Burnt fingers keep merger arbs at bay

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Neil Collins: October 16, 2015

Would you like £44 for £39.55? Or how about £12 for £10.80? These are not illegal scams, but the differences between the offer prices from AB InBev for SABMiller and Royal Dutch Shell’s for BG.

Shell’s chief executive would have to go if his BG deal falls through.

FULL ARTICLE

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The risks of wildcatting in the Arctic

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Screen Shot 2015-10-05 at 14.03.31A former Shell Oil executive and catastrophic risk expert on the nightmare scenario when oil and ice mix.

by Lauren Ellis @lauren_jellis: October 15, 2015

Two drill vessels officially left Arctic waters after Royal Dutch Shell announced that the company would cease exploration in the Chuckchi and Beaufort seas. After a $7 billion investment and a standoff with kayaktivists, Shell cited a “disappointing exploration outcome,” meaning there’s oil in the Arctic, but not enough where they drilled to justify the cost. It’s a classic industry gamble called wildcatting: oil companies invest in an unexplored area hoping to strike black gold in the hidden reservoirs thousands of feet below the surface. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Force Majeure on Bukom supply forces downstream cuts, shutdowns

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16 October 2015

SINGAPORE (ICIS)–The force majeure (FM) on base chemicals supply from Shell’s manufacturing site in Pulau Bukum in Singapore has forced some downstream units to cut their run rates or temporarily halt production, industry sources said on Friday.

Shell experienced an “operational upset” at its cracker complex at the Bukom site on 14 October, which resulted in flaring. The company declared force majeure on base chemical products on the same day.

The ethylene cracker on Bukom produces feedstocks primarily for the downstream chemical plants on Jurong Island which are sent via an undersea pipeline. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

New Concern Over Quakes in Oklahoma Near a Hub of U.S. Oil

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Screen Shot 2015-10-15 at 10.41.53By MICHAEL WINESOCT. 14, 2015

A sharp earthquake in central Oklahoma last weekend has raised fresh concern about the security of a vast crude oil storage complex, close to the quake’s center, that sits at the crossroads of the nation’s oil pipeline network.

The magnitude 4.5 quake struck Saturday afternoon about three miles northwest of Cushing, roughly midway between Oklahoma City and Tulsa. The town of about 8,000 people is home to the so-called Cushing Hub, a sprawling tank farm that is among the largest oil storage facilities in the world. read more

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Shell had to write-down some of its shale assets in the U.S., after spending $24 billion on a bet that failed to pay off, with company executives regretting ever having made the investment.

By James Stafford: Wed, 14 October 2015

A new report finds that the largest oil companies are set to cut spending on exploration by at least half, potentially leading to very few new oil discoveries in the years ahead.

The report from investment bank Tudor, Pickering, Hold & Co., and reported by Fuel Fix, estimates that exploration budgets among the oil majors will drop to $25 billion in 2016, down from $50 billion from just a few years ago. Obviously, low oil prices are taking their toll, forcing deep spending cuts in a desperate attempt to shore up profitability. But the cuts have large implications for the energy sector, increasing the chances that some large oil fields remain undeveloped for years. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell to open 400 hydrogen fuelling stations in Germany by 2023

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Shell to open 400 hydrogen fuelling stations in Germany by 2023

Screen Shot 2015-09-17 at 07.55.40by Veselin ValchevWednesday, 14 Oct 2015

Royal Dutch Shell Plc (LON:RDSA) announced yesterday that it has signed a declaration of intent with its H2 Mobility Germany joint venture partners and Germany’s federal transport minister over plans to roll out 400 hydrogen fuel stations by 2023.

The pumps, three of which the venture has already opened and operates, refuel hydrogen fuel cell electric cars – environmentally neutral vehicles, which, however, have struggled to make headway into consumer markets.

“Hydrogen-fuelled electric vehicles could play a key part in a low-carbon, low-emission, future,” said Oliver Bishop, General Manager of Hydrogen at Shell. “H2 Mobility Germany shows what we can achieve through close collaboration between governments and business. The next step is for consumers to embrace this opportunity and consider buying hydrogen vehicles as they become available.” read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Drill ship headed to N.S. as Shell prepares for oil exploration

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Screen Shot 2015-09-17 at 07.55.40CTV Atlantic: Wednesday, October 14, 2015

With a drill ship on its way to Nova Scotia, it may be just a few weeks before Shell Canada begins oil exploration in the Shelburne Basin.    

The Stena IceMax is one of the most modern drill ships in the world and weighs nearly 60,000 tonnes. It’s designed to drill in deep water and is due to arrive in Nova Scotia around Oct. 20, although the date is flexible.

“It’s difficult to say when it will be within the staging area because we are awaiting a decision from the CNSOPB [Canada-Nova Scotia Offshore Petroleum Board] before we could begin any drilling activity,” says Cameron Yost, a spokesman for Shell Canada. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell’s drilling vessels leave Arctic waters after company ends oil exploration off Alaska

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Screen Shot 2015-10-05 at 14.03.31DAN JOLING: Associated Press: Oct. 13, 2015

ANCHORAGE, Alaska (AP) — Two drill vessels employed by Royal Dutch Shell PLC off Alaska’s northwest coast have safely departed Arctic waters for the Pacific Northwest.

The 572-foot Noble Discoverer, owned by Noble Drilling U.S. LLC, reached Dutch Harbor in the Aleutian Islands on Sunday afternoon. After a Coast Guard inspection, the vessel departed Monday for the Port of Everett in Washington state, Shell spokesman Curtis Smith said.

The Polar Pioneer, owned by Transocean Ltd., reached Dutch Harbor on Monday afternoon. Two tug boats accompanying the semi-submersible drilling vessel, the Ocean Wind and Ocean Wave vessel, planned to refuel and change crews. The Polar Pioneer will be towed to Port Angeles, Washington. read more

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Russia abandons hope of oil price recovery and turns to the plough

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Russia has abandoned hopes for a lasting recovery in oil prices, bracing for a new era of abundant crude as US shale production transforms the global energy market.

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President Vladimir Putin answers questions during an interview for Russian television

Ambrose Evans-Pritchard: 14 Oct 2015

The Kremlin has launched a radical shift in strategy, rationing funds for the once-sacrosanct oil and gas industry and relying instead on a revival of manufacturing and farming, driven by a much more competitive rouble.

“We have to have prudent forecasts. Our budget is based very conservative assumptions of oil at around $50 a barrel,” said Vladimir Putin, the Russian president. read more

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Shell keeps Prelude under wraps

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Screen Shot 2015-10-13 at 23.09.25The Anglo-Dutch giant has never disclosed Prelude’s capital cost or start-up date

Peter Klinger: October 13, 2015

Just a year out from market expectations of first gas, Royal Dutch Shell is giving nothing away about the pace of progress at its revolutionary Prelude floating LNG operation.

Shell has sent out its regular update of the mega-project, which comprises construction of the industry-changing floating processing plant in Samsung’s Geoje shipyard in South Korea and a gas-condensate well and subsea pipeline network in the Browse Basin off the Kimberley.

Shell’s update said the second-last module had been installed on the Prelude floater, while in the Browse Basin the focus was on installing flow lines and pipeline end terminations. read more

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Controversial Corrib gas will flow within weeks

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Screen Shot 2015-10-13 at 17.45.17The projected spend of €250m on the controversial project this year will lead to the overall costs exceeding €3.6bn. This is more than four times the original estimate of €800m for the project, which is 12 years behind its original projected completion time of 2003.

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Áine Ryan: TUESDAY, 13 OCTOBER 2015

Penultimate permission granted by EPA

ALMOST two decades after its discovery, the Corrib Gas field  has been given its penultimate permission, an industrial emissions licence, by the EPA (Environmental Protection Agency). The final statutory permission for the €3.6bn project is expected to be issued very soon by the Minister for Communications, Energy and Natural Resources, Alex White, clearing the way for the gas to flow from the Bellanaboy refinery.   read more

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Shell Is Reeling After Pulling Out of the Arctic

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Screen Shot 2015-10-04 at 09.03.21BY ANTONIA JUHASZ / OCTOBER 13, 2015

Earlier this month, Shell’s tumultuous Arctic drilling campaign came to an abrupt and costly end. In a written statement, the company announced the cessation of its offshore Alaska activities “for the foreseeable future”—at a loss of billions of dollars. This both stunned and thrilled critics, many of whom worried that the seven-year effort to stop Shell was dead in July, when the Obama administration approved the company’s permits to drill. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Is Cameron’s campaign against corrupt cash starting to bite?

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Screen Shot 2015-10-12 at 15.59.11The arrest of Nigeria’s glamorous former oil minister suggests it is, says Clementine Wallop

13 October 2015

Like many others, I was sceptical when in July, Prime Minister David Cameron said in a speech in Singapore he was planning to crack down on corrupt foreigners who own luxury properties in London and use the capital as a place to launder dirty cash.

It’s easy to say that ‘the UK must not become a safe haven for corrupt money from around the world,’ but rather harder to act on, especially given the intricate networks of shell companies through which many of these properties are owned, and given the number of properties bought legitimately with money that has a less troubling provenance. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Nigeria’s President Enlists the West to Help Recover Stolen Money

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Screen Shot 2015-10-12 at 15.59.11Benoît Faucon in London: Oct. 12, 2015 

U.S., U.K. act quickly at behest of Muhammadu Buhari, who took office in May on a pledge to stamp out corruption; ex-oil minister detained in London

London police this month briefly detained Nigeria’s former oil minister, Diezani Alison-Madueke. 

Following a summer meeting in Washington between British and American investigators, London police on Oct. 2 raided a luxurious home near Regent’s Park. There they briefly detained Dieziani Alison-Madueke, Nigeria’s oil minister from 2010 to 2015.

Hours later, her neighbors in Nigeria watched as scores of cops searched her house: 

One of Africa’s most prominent politicians, Mrs. Alison-Madueke and her associates are suspected of bribery, corruption and laundering money through British and U.S. banks. She has previously denied those allegations and police haven’t charged her with anything. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell’s Arctic drill rigs make final Alaska stop

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Screen Shot 2015-10-05 at 14.03.31Laurel AndrewsOctober 12, 2015

Two weeks after announcing the end of its Arctic offshore oil exploration program, Royal Dutch Shell’s Noble Discoverer drillship left Dutch Harbor Monday afternoon, the last planned stop in Alaska as it heads to the Pacific Northwest.

The company’s second drilling rig that had arrived in Alaska this summer, the Transocean Polar Pioneer, is close behind.

The Noble Discoverer arrived in Dutch Harbor Sunday, said Shell Alaska spokesperson Megan Baldino. During the stop, both rigs had a crew change and resupply of fuel and groceries. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Oil Sands Boom Dries Up in Alberta, Taking Thousands of Jobs With it

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Screen Shot 2015-10-13 at 12.37.36By IAN AUSTENOCT. 12, 2015

FORT McMURRAY, Alberta — At a camp for oil workers here, a collection of 16 three-story buildings that once housed 2,000 workers sits empty. A parking lot at a neighboring camp is now dotted with abandoned cars. With oil prices falling precipitously, capital-intensive projects rooted in the heavy crude mined from Alberta’s oil sands are losing money, contributing to the loss of about 35,000 energy industry jobs across the province.

Yet Alberta Highway 63, the major artery connecting Northern Alberta’s oil sands with the rest of the country, still buzzes with traffic. Tractor-trailers hauling loads that resemble rolling petrochemical plants parade past fleets of buses used to shuttle workers. Most vehicles carry “buggy whips” — bright orange pennants attached to tall spring-loaded wands — to help prevent them from being run over by the 1.6-million-pound dump trucks used in the oil sands mines. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell offloads North Sea assets as price slump bites

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Screen Shot 2015-09-17 at 07.55.40Published at 12:01AM, October 13 2015

Royal Dutch Shell is selling two assets in the North Sea as the big energy companies respond to high production costs and a slump in crude prices by turning their backs on the basin.

Shell’s stake in the Gannet field, a complex of ageing oil production platforms and pipelines 110 miles east of Aberdeen, is being marketed to potential buyers, industry sources told The Times. The Anglo-Dutch group is also looking to sell off its 26 per cent stake in Triton… (FULL ARTICLE) read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Western oil groups warn Nigeria against overhaul of contracts

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Western oil executives are warning Nigeria against major changes to commercial contracts that could lead to the government taking a bigger share of revenues from the country’s deepwater fields, FT reports.

The decision – which the government says will affect Royal Dutch Shell (RDS.A, RDS.B), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), Eni (NYSE:E) and others “in the weeks and months ahead” – has sparked concern among execs who say they know nothing of the details are have not been contacted. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Nigeria: The Morality and Mortality in Alamieyeseigha’s Death and Diezani Alison-Madueke’s Illness

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Screen Shot 2015-10-12 at 15.59.11Nigeria: The Morality and Mortality in Alamieyeseigha’s Death and Diezani Alison-Madueke’s Illness

OPINION

By Adeolu Ademoyo

Depending on the context, death and illness are two occurrences, which are often difficult to write and talk about. This broad challenge is made more complicated in a contemporary African context-in this case Nigerian context- that is disposed to irrationality. The belief is: Do Not Speak Ill of The Dead and The Ill.

While there is some deep ethical meaning to the thought that we should not speak ill of the ill and the dead, our irrational context driven by sentiments and ethnic politics will often make us lose the high moral implication of such thought. The high ground of ethics and spirituality enjoin us not to speak ill of the dead and the ill not because the moral status or otherwise of the ill and the dead when they were alive, hale and hearty. On the contrary, we are enjoined not to speak ill because they may not have the mortal space and time like us-who is yet to answer the final call- to defend themselves. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Alaska mulls extra oil drilling to cope with climate change

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By Matt McGrath: Environment correspondent, BBC News, Alaska: 12 Oct 2015

Expanding the search for oil is necessary to pay for the damage caused by climate change, the Governor of Alaska has told the BBC.

The state is suffering significant climate impacts from rising seas forcing the relocation of remote villages.

Governor Bill Walker says that coping with these changes is hugely expensive.

He wants to “urgently” drill in the protected lands of the Arctic National Wilderness Refuge to fund them.

Alaska has been severely hit by the dramatic drop in the price of oil over the past two years. read more

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Militants attack Shell Nigeria flow station, kill guard, company says

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Screen Shot 2015-09-17 at 07.55.40Published October 11, 2015: Associated Press

WARRI, Nigeria –  Shell Nigeria says armed militants attacked an oil flow station in the southern Delta and killed a guard, amid fears of a renewed crisis as the country grapples with halved petroleum prices.

Militant demands have been increasing and range from regional autonomy to a bigger share of the oil wealth that has polluted the Niger Delta region and destroyed the livelihoods of hundreds of thousands of farmers and fishermen.

President Muhammad Buhari has said he will terminate in December a $500 million-a-year amnesty program negotiated in 2009 for 30,000 militants that curbed an insurgency that was killing 1,000 people a year and halved the oil production of Africa’s biggest producer. read more

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Shell and Exxon’s €5bn problem: gas drilling that sets off earthquakes and wrecks homes

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Screen Shot 2015-10-10 at 17.11.17Groningen has been one of Europe’s richest gas fields for 30 years, and thousands of people say their homes have been damaged by the tremors that drilling sets off. Now a class action may finally bring them compensation – and force a rethink of European energy security

Highlights from an article by Lucas Amin Published Saturday, 10 October 2015

A life-threatening earthquake reaching magnitude 4 or 5 on the Richter scale is possible and could strike at any moment.   read more

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Gunmen Kill Oil Worker On Royal Dutch Shell Facility In Bayelsa

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Screen Shot 2015-09-17 at 07.55.40BY PM NEWS, LAGOS: OCT 09, 2015

Unidentified gunmen on Friday killed an oil worker at the Kolo Creek Oilfields operated by Shell Petroleum Development Company (SPDC) in Ogbia local government area of Bayelsa.

It was gathered that the sound of the gunshots fired by the gunmen alerted armed security team stationed to guard the oil installation whose reaction repelled the gunmen to beat a retreat.

The News Agency of Nigeria (NAN) gathered that the remains of the victim of the attack, identified as Mr Austin Igwe, was evacuated by policemen from Ogbia Division and troops of Operation Pulo Shield (OPPS), the Joint Military outfit deployed to the field. read more

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Alison-Madueke family reacts, says Diezani was never arrested

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October 09, 2015

* Says she completed months of cancer chemotherapy in London, to undergo surgery next week

* Urges Nigerians to pray for her recovery to face allegations, give stewardship account

Following the ongoing travails of Nigeria’s former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, over allegations of money laundering and bribery brought against her by the United Kingdom, UK, National Crime Agency, the family of Rear-Admiral Allison Madueke (Retd), husband of the former minister has finally released a statement to set the records straight.

The statement, entitled: “The Truth Versus The Media Hysteria Against The Madueke Family,” signed by Barrister Oscar Onwudiwe, for and on behalf of the Madueke and Agama families, stated that Diezani is currently battling with cancer, which started while she was in office, and that she has been receiving treatment in the UK. read more

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Shell granted licence by EPA for Mayo gas refinery

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Screen Shot 2015-09-17 at 07.55.40Friday, Oct 9, 2015

Shell has been granted an industrial emissions licence by the Environmental Protection Agency (EPA) for its gas refinery at Bellanaboy, Co Mayo.

The licence is one of the last consents required by the Corrib gas developers. The licence allows for “operation of a gas refinery” and “combustion of fuels”. It was issued by the agency on Thursday October 8th and has been posted on the EPA’s website.

In August the company submitted the application to the department for permission to operate the 91 kilometre-long high pressure pipeline in north Mayo under section 40 of the Gas Acts. read more

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Shell asks shippers exporting Nigerian oil to sign NNPC guarantee

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Fri Oct 9, 2015

LONDON Oct 9 (Reuters) – Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a “letter of comfort” (LoC) to guarantee that its oil is not stolen, an email from the company seen by Reuters showed.

“Please be informed we expect LPG & Products ship owners to sign the NNPC LoC for any future Shell loading voyages,” the email stated.

NNPC, Nigeria’s state oil company, has lifted a ban on over 100 vessels due to suspected oil theft, but asked ship owners last month to sign a letter of comfort to “guarantee to indemnify” it against any illicit use of their vessel. read more

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Environmentalists ramp up resistance to big oil

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Screen Shot 2015-10-05 at 14.03.31Environmental groups have become emboldened by their perceived triumph over Shell in the Arctic, in which they refined new tactics. What impact might this decision have on the future green movement in the United States?

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Environmental organizations celebrated when Royal Dutch Shell announced it was halting oil and gas explorations in Alaska’s Chukchi Sea “for the foreseeable future.” Activists heralded the move as an unprecedented victory for their campaign to stop drilling: They managed to shut down a fossil fuels project, they claimed.

However, the oil giant is adamant that environmental groups played no role in its decision to leave the Arctic. A spokesperson confirmed to DW that the company withdrew for economic and legislative reasons, stating that the Burger J well didn’t contain enough oil to develop a viable commercial project. read more

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UNESCO sees bright side to Shell’s Arctic pullout

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Screen Shot 2015-10-05 at 14.03.31Alaska Dispatch News: October 8, 2015

Shell’s decision to end its program to drill for oil in Arctic waters off Alaska is being cheered by one international organization.

Shell’s drilling in the Chukchi Sea threatened Russia’s Wrangel Island Reserve, an ecologically rich site that is the only designated World Heritage site in the Arctic, said the United Nations Educational, Scientific and Cultural Organization, also known as UNESCO.

“This Arctic jewel, and the wealth of wildlife it supports, were threatened by Shell’s Chukchi Sea operations,” UNESCO said in a statement released Wednesday. read more

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Shell’s withdrawal from Arctic energizes activists

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By Jennifer A. Dlouhy, Hearst Washington Bureau: Oct  8, 2015

WASHINGTON — Environmentalists who battled Arctic oil drilling by paddling kayaks, dangling from bridges and climbing onto rigs at sea have claimed a high-profile success against Shell and aim to funnel the resulting enthusiasm into other fights against fossil fuels.

Shell is abandoning its long crusade to find crude in the waters north of Alaska after disappointing results at a critical test well in the Chukchi Sea. While the company cited financial reasons for the pullout, the move nonetheless represents a tangible victory for environmental activists. read more

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Diezani Alison-Madueke: Behind the ‘reformer’ of the Nigerian oil industry’s arrest

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Screen Shot 2015-10-08 at 08.20.57Mrs Alison-Madueke, 54, part of a prominent Nigerian family and a former Shell executive, was appointed as Honourable Minister of Petroleum Resources in March 2010 by now former president Goodluck Jonathan

Until last Friday, Diezani Alison-Madueke’s position as one of the most prominent women on the global stage had seemed assured. Boasting a Cambridge degree and a portfolio of senior government positions in her native Nigeria, she is also the first female president of the OPEC oil cartel.

Such is her influence that the British government earlier this year placed her top of a list of former recipients of the taxpayer-funded Chevening Scholarship for future leaders of foreign states whom it wanted to recognise for International Women’s Day. The roll call paid tribute to women who it said personified the slogan for the event – “make it happen”. read more

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Can Royal Dutch Shell Sustain Its High Dividends?

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Screen Shot 2015-09-17 at 07.55.40Trefis Team, CONTRIBUTOR: OCT 7, 2015

Royal Dutch Shell‘s dividend yield has reached a high of over 8%, given that its stock price fell by almost 18% in the last three months. The company has committed to paying its current dividend for the current financial year despite the pressure on its net income. However, it is now uncertain whether the company will be able to sustain this dividend in the future. The market seems bearish on Shell’s growth prospects.Our current price estimate for Shell stands at around 30% above the market price. In our bear case scenario, our price estimate faces a 20% downside, based on a reduced forecast for global crude oil prices, Shell’s exploration success, and downstream EBITDA margins. However, we remain optimistic on Shell, given its long standing history of dividend payments, we believe that Shell will not initiate a dividend cut. read more

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ROYAL DUTCH SHELL TAX AVOIDANCE INDEX

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Shell pledges to keep dividend despite slump in oil prices

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If the oil price stays low, Shell’s van Beurden may have to eat his words Photo: AFP

By Andrew Critchlow, Commodities editor: 06 Oct 2015

Royal Dutch Shell has reassured investors that it will maintain its dividends regardless of a prolonged slump in oil prices below $50 per barrel.

Chief executive Ben van Beurden, speaking at the Oil and Money conference in London, said: “Shell is pulling out all the stops to safeguard our dividends and buy-back programme, and to keep our investment programme steady for the future.” read more

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Diezani In London By Michael Egbejumi-David

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…just last Friday, the ex-minister was collared in London along with four other people.  They were all charged with bribery, corruption and money laundering.  Already, money is being taken off her.

BY MICHAEL EGBEJUMI-DAVID: OCT 06, 2015

I have met the former Minister of Petroleum, Mrs Diezani Alison-Madueke before.  It was about three years ago in an Offshore Technology Conference (OTC) in Houston.  Unfortunately for me, former US president, George W Bush Jnr was also at the event.  Everyone – including my woman! – rushed off to have their picture taken with Bush.  Not me.  I kept my eyes on Diezani.  In the end she gave me her card and asked me to call on her whenever I was in Nigeria. read more

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Sanctions do not exclude investment opportunities in Russia – Shell

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Neil Hall / Reuters: 6 Oct 2015

Royal Dutch Shell’s business ties remain strong in Russia and there’s no lack of investment opportunities in the country despite sanctions, said Shell CEO Ben Van Beurden.

“Our interests in Russia stay significant… Sanctions do not mean absence of investment opportunities. We have a very effective and strategic cooperation with Gazprom in different areas… This is still in power. I want to stress that sanctions don’t mean lack of investment opportunities,” he told the Oil & Money conference on Tuesday. read more

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Wishful Thinking

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Screen Shot 2015-09-13 at 14.19.16Christopher Adams, Anjli Raval and David Sheppard: Oct 6, 2015

Royal Dutch Shell on Tuesday warned of the risk of a “spike” in oil prices should Opec keep pumping flat out in the face of an expected decline in output after spending cuts by energy groups outside the producers’ cartel.

Ben van Beurden, Shell’s chief executive, said…

FULL FT ARTICE

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Shell CEO Doing All to Safeguard Dividends Amid Low Oil Prices

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Screen Shot 2015-10-06 at 11.08.41by  Bloomberg: Rakteem Katakey: Tuesday, October 06, 2015

(Bloomberg) — Royal Dutch Shell Plc is “pulling out all the stops to safeguard” its dividend in a world where oil prices remain “lower for longer,” Chief Executive Officer Ben Van Beurden said. 

Europe’s biggest oil company is also protecting its plan to buy back shares, Van Beurden said in e-mailed comments before a speech at an industry conference in London on Tuesday. Shell is also keeping its “investment program steady for the future,” he said.

The halving of oil prices in the past year has forced Shell and its peers to cut costs, defer projects and hunker down for a prolonged period of low oil prices. Even with oil trading for about $50 a barrel, Shell’s Van Beurden and BP Plc boss Bob Dudley have made dividends their top priority. Shell has weathered market ups and downs for seven decades — including oil at less than $10 in the 1980s and 1990s — without cutting dividends. read more

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Shell CEO sees first signs of oil price recovery

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Screen Shot 2015-10-06 at 11.08.41Business News | Tue Oct 6, 2015

Oil markets are beginning to recover but the scale of global oversupply means prices may rise only slowly, the chief executive of Royal Dutch Shell Plc (RDSa.L) said on Tuesday.

“I see the first mixed signs for recovery of oil prices,” Ben van Beurden told an oil industry conference in London.

“But with U.S. shale oil being more resilient than we originally thought and a lot of oil still in stock, it will take some more time to rebalance demand and supply,” he added. read more

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How Nigeria’s Ex-Minister Of Petroleum Madueke Laundered Looted Money, Her Accomplices Revealed

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…another avenue of money laundering by the former minister was the controversial Malabu deal in which she, former Attorney General, Mohammed Adoke, and President Goodluck Jonathan may have pocketed close to $2 billion between them.

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Charing Cross Police Station in London where former Shell Executive Director and subsequently Nigerian Minister of Petroleum Resources, Mrs. Diezani Alision-Madueke was expected to report on Monday, October 5, 2015.

BY SAHARAREPORTERS, NEW YORK: OCT 05, 2015

An investigation by SaharaReporters has revealed some of the ways in which former Petroleum Minister, Diezani Alison-Madueke, and her network of accomplices, family members, and shell companies sought to conceal and launder an astonishing amount of the former minister’s corruptly acquired wealth. The laundered funds are the focus of twin investigations by British and Nigerian anti-corruption agencies. 

Last Friday, the International Corruption Unit of the British National Crime Agency (NCA) arrested Mrs. Alison-Madueke and four other suspects in London. read more

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Premium Times: Former Shell Executive Director Arrested in London on Corruption Allegations Involving Over $20bn

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…former board member of Shell Petroleum Development Company of Nigeria…

By Bassey Udo: 4 Oct 2015

The Nigerian presidency has confirmed the arrest of a former Petroleum Minister, Diezani Alison-Madueke, in London, over allegations of corruption and money laundering.

“The government is aware of the arrest and all the government investigative agencies are working very closely with the British law enforcement,” the Senior Special Assistant to the President, Garba Shehu, told PREMIUM TIMES exclusively on Sunday.

“Nigerian authorities are saying for the first time that matters are being handled with seriousness and deep commitment. Nobody wants to give the impression that this government is frivolous and unserious.

“For this reason, government is only confirming active collaboration. Beyond this, we are not saying more. In due course, Nigerians will be briefed on updates as appropriate.” read more

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