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Posts on ‘February 24th, 2016’

Another Oil Crash Is Coming, and There May Be No Recovery

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Tom Randall: Bloomberg.com: 24 FEB 2016

It’s time for oil investors to start taking electric cars seriously.

In the next two years, Tesla and Chevy plan to start selling electric cars with a range of more than 200 miles priced in the $30,000 range. Ford is investing billions, Volkswagen is investing billions, and Nissan and BMW are investing billions. Nearly every major carmaker—as well as Apple and Google—is working on the next generation of plug-in cars.

This is a problem for oil markets. OPEC still contends that electric vehicles will make up just 1 percent of global car sales in 2040. Exxon’s forecast is similarly dismissive.  read more

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Royal Dutch Shell’s U.S. Chief Leaving in Leadership Shuffle

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The president of Royal Dutch Shell Plc’s U.S. division is leaving the company as part of a reorganization announced Wednesday, and Executive Vice President Bruce Culpepper was named as his successor.

Marvin Odum, 57, has been with the company for 34 years and held the post at its U.S. division, Shell Oil Co., since oil prices were at record highs. He also was in charge during Shell’s failed Arctic drilling bid. Culpepper, who will become the U.S. country chairman and the president of Shell Oil on April 1, has been overseeing human resources in the Americas.

“Marvin has had a long and distinguished Shell career and I’m grateful to him for the central role he’s played in the company’s success,” said Ben van Beurden, chief executive officer of Royal Dutch Shell, in a news release Wednesday. “He leaves our important businesses in the Americas well positioned for the next phase of their development.” 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 announces senior staff and organisational changes in North America

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24-Feb-2016

Royal Dutch Shell (Shell) today announced that after a 34-year career with the company, Unconventional Resources Director and U.S. Country Chair, Marvin Odum, will leave Shell at the end of March, 2016.

Concurrent with Marvin’s departure, and in a move that will simplify Shell’s structure, the Athabasca Oil Sands Project and the Scotford Upgrader in Canada will join the global Downstream organisation under Downstream Director, John Abbott; and the Shale Resources business will join the global Upstream organisation under Upstream Director, Andy Brown. As a result of these changes, The Unconventional Resources Directorate will cease to exist. 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

Royal Dutch Shell says U.S. Country Chair, Marvin Odum, to leave Shell

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Feb 24 Shell

* Royal Dutch Shell (Shell) today announced that after a 34-year career with the company, unconventional resources director and U.S. Country chair, Marvin Odum, will leave Shell at the end of March, 2016. 

* As a result of these changes, the unconventional resources directorate will cease to exist

* Marvin Odum will be replaced as U.S. Country chair and President of Shell Oil Company by Bruce Culpepper

* Athabasca oil sands project and Scotford upgrader in Canada will join global downstream organisation under downstream director, John Abbott 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

OPEC’s Freeze Backfires

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The punchline? The joke’s on OPEC.

There are several glaring problems inherent to the freeze, whereby members of OPEC and other large producers such as Russia are supposed to not raise their oil output from current levels, not least that they are already producing too much oil for the market to absorb.

But there is a more subtle effect that actually works against the likes of Saudi Arabia: The freeze raises hope. In particular, it raises hope in the otherwise largely despondent world of energy financing.

Monday night, before those oil ministers iced the freeze, Cabot Oil & Gas, a U.S. exploration and production company, announced it had sold an upsized offering of new shares that should ultimately raise roughly $1 billion. 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

For Exxon and Shell, Age of Ultramajors Comes at the Wrong Time

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As oil and gas prices have tumbled, Exxon and Shell have been forced to retreat. With oil barely above $30 a barrel, they’re cutting spending, including some costly, high-risk mega-projects. Photographer: George Osodi/Bloomberg

By Javier Blas: Bloomberg.com: 24 FEB 2016

Despite their size, both companies suffering with cheap oil

Exxon and Shell cutting spending as fast as everyone else

Screen Shot 2016-02-24 at 07.54.19This may not be the best time to be bigger than big.

The $64 billion tie-up of Royal Dutch Shell Plc with BG Group Plc and the steady growth of Exxon Mobil Corp. are creating a new league of two: the ultramajors. Executives at smaller companies are even starting to joke that Chevron Corp., Total SA, BP Plc, ConocoPhillips and ENI SpA are merely the mid-cap sector of Big Oil. 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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