Dec 9th, 2015
by John Donovan.



I believe that Shell still has much further to fall.
By Royston Wild – Tuesday, 8 December, 2015
It has been a few months in coming, but crude oil prices finally crashed to fresh nadirs at the start of this week. The Brent benchmark toppled all the way back to within a whisker of $41 per barrel, taking out September’s lulls and marking the lowest level since 2008.
The black gold price has endured further pressure after industry cartel OPEC again refused to cut production on Friday, ignoring a steady stream of weak demand indicators and bloated stockpiles. Instead the group elected to intensify its market-share grab by raising its daily production target to 31.5 million barrels. read more
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Dec 9th, 2015
by John Donovan.

Shell Canada is cutting an unspecified number of salaried positions at its Corunna refinery in 2016 to remain competitive in a challenging economy.
Spokesman Randy Provencal says he can’t get into numbers at this point but the reductions will affect employees like engineers and office support staff and not hourly workers.
“The employees who are working in the plant, running the plant, they’re not impacted by these staffing reductions,” says Provencal.
“Shell is taking the necessary steps to ensure our manufacturing site here in Corunna is competitive through all economic cycles, right now what we’re doing is exploring a number of efficiencies which will result in some staff reductions in the coming year.” read more
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Dec 9th, 2015
by John Donovan.


Dermot Cole: December 8, 2015
Fresh assertions that the Obama administration smothered Shell’s Arctic dreams followed the news that Statoil gave up on its leases, the second company to abandon plans to look for oil in the Chukchi Sea.
Citing market conditions and noting the leases “are no longer considered competitive within Statoil’s global portfolio,” the Norwegian company announced its withdrawal plans Nov. 17. The company had long taken a cautious approach in the region, using Shell as a bellwether. Earlier this year it had scaled back its plans to drill in the Barents Sea because of low oil prices. read more
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Dec 9th, 2015
by John Donovan.
Investors Are Unsure About Shell’s Strategy to Expand Its LNG Business

12/08/2015
SUGAR LAND, TX–(Marketwired – Dec 8, 2015) – Investors don’t seem to think much of Royal Dutch Shell’s (NYSE:RDS.A) (The Hague, Netherlands) expanded commitment to liquefied natural gas (LNG), signaled in part by its $70 billion acquisition of BG Group Plc (London: BG) (Reading, England) earlier this year. But the company insists it sees a lot of long-term value in the global LNG trade, and that the BG deal will drive changes that will position it favorably for years to come. read more
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Dec 9th, 2015
by John Donovan.



Larry Elliott Economics editor: Tuesday 8 Dec 2015 19.40 GMT
The world’s leading oil producers are preparing for the possibility of oil prices halving to $20 a barrel after a second day of financial market turmoil saw a fresh slide in crude…
FULL ARTICLE
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Dec 9th, 2015
by John Donovan.


A months-long investigation shows how the energy giant pressured the Interior Department during the company’s gung-ho Arctic push—and got most of what it wanted (except oil).
By Barry Yeoman: December 08, 2015
Last May, four months before the oil giant Royal Dutch Shell suspended exploration in offshore Alaska, Christopher Putnam needed to get something off his chest.
Putnam is 44, originally from Texas, a trained wildlife biologist who also served as an Army infantry sergeant during the Iraq War. For almost six years he has worked in Alaska for the U.S. Fish and Wildlife Service, protecting marine mammals. It has been his job to ensure that Shell’s plans to drill more than 60 miles offshore in the Chukchi Sea—the wild Arctic water between Alaska and Siberia—wouldn’t harm Pacific walruses, particularly the juveniles, calves, and nursing mothers that dominate the Chukchi during the drilling season. read more
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