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Posts on ‘July 25th, 2016’

Oil price drops to three-month low on oversupply fears

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25 July 2016

Oil prices have fallen to a three-month low, hit by rising concerns that a global oversupply of both crude and natural gas will dampen prices.

US oil fell 2.4% to $43.11 (£32.72) a barrel, its lowest level since April, meaning it has now fallen by 12% so far this month.

Brent crude dropped 2.1% to $44.75, its lowest level since 10 May.

Shares in oil and firms also lost ground, with Exxon Mobil shares down 1.8% and Chevron down 2.6%.

“Crude oil markets have been under pressure as oil supplies have started growing with the resumption of output from the capacity lost due to wildfires in the Canadian oil sands,” said EY energy analyst Sanjeev Gupta. 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

Oil giants hit amid fears of drop in demand

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PUBLISHED: 25/07/2016

The FTSE 100 index was off 20.4 points to 6710.13, as Brent crude sunk 1.9% to 44.83 US dollars (£37.50) a barrel after a report from Barclays warned global oil demand was down amid lacklustre growth from the global economy.

BP dropped 2.6%, or 11.8p, to 440.4p ahead of its interim results on Tuesday, while rival Royal Dutch Shell was also languishing in the red, slipping 2.5%, or 54.5p, to 2093.5p.

Sterling was also under pressure after a report from the Confederation of British Industry (CBI) said business optimism had deteriorated at its fastest pace since January 2009 following the Brexit vote. 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

How do you hold a strike on a North Sea oil platform?

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Hundreds of RMT and Unite union members who work for Wood Group are set to stage the 24-hour industrial action on Tuesday in a dispute over pay.

It will be the first industrial action of its kind in the offshore oil and gas industry in almost 30 years.

But how do you actually conduct a strike on a North Sea oil platform?

Those union members involved on the seven Shell platforms will go to designated areas – but will respond should there be an emergency situation.

There will not be the traditional high-profile picket lines that people associate with strikes on land. 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 Units Argue Market-Rigging Claims Lack Jurisdiction

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Screen Shot 2016-07-08 at 14.36.15By Cara Bayles

Law360, San Francisco (July 22, 2016, 8:48 PM ET) 

Two Royal Dutch Shell PLC affiliates on Thursday tried to escape allegations of European market manipulation from a proposed class of crude oil derivatives traders, arguing in New York federal court that U.S. courts don’t have jurisdiction over conduct by Shell’s international arm in foreign markets.

The reply in support of the affiliates’ motion to dismiss said the traders were trying to “manufacture claims and jurisdiction where neither exists” by blurring the distinction between two “sister subsidiaries” — Shell’s U.S. arm, Shell Trading US Co., or… 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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