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Bloomberg accused of publishing false Royal Dutch Shell production forecasts

POSTING ON SHELL BLOG BY “Outsider”

How much did Shell pay Bloomberg to misquote their production forecasts?

It is unbelievable that two of Bloomberg’s journalists have put out a story, reprinted around the world again and again, which is completely false. Shell’s own forecast in the Deutsche Bank presentation is that they will be producing 3.2 MMBOE/day in 2012, while BP expect to produce 4.1 MMBOE/day.

Shell overtaking BP? I don’t think so. Some of the articles even attribute yesterday’s increase in Shell’s share price to the claim that Shell will increase their production by 30% – could it be that someone is deliberately trying to manipulate the share price? read more

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Shell Committed to Oil Sands, to Maintain Investments, CEO Says

Jan. 9 (Bloomberg) -- Royal Dutch Shell Plc remains committed to investing in Canadian oil sands after putting on hold the expansion of the second phase of the Athabasca project in Alberta, its chief executive officer said today.

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Oil Curve Steeper Than ‘99 Shows Crude May Gain in ‘09 on OPEC

Shell, based in The Hague, postponed a decision to expand its Athabasca oil-sands project in Canada. Valero Energy, the largest U.S. refiner, said in October it will defer projects to cut spending by about $500 million, or 17 percent.

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Crude Oil Rises First Time in 3 Days After U.A.E. Cuts Output

“Crude hasn’t bottomed out as yet because we are getting so much bad economic news,” said Tony Regan, a Singapore-based independent energy consultant, who formerly worked for Royal Dutch Shell Plc and Nexant Inc.

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Samsung Bets on Shell Floating LNG as Orders Fall

Dec. 19 (Bloomberg) -- Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. are betting that Royal Dutch Shell Plc’s plan for untried floating gas-export terminals will spur billions of dollars in orders as the shipping market collapses.

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Shell Expands LNG Import Capacity in India

Dec. 18 (Bloomberg) -- Petronet LNG Ltd. and Royal Dutch Shell Plc are expanding liquefied natural gas import capacity in India even as the global recession cuts demand and prices of the fuel decline.

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Eating Isn’t Option When Minnesota Corn Burns in Houston Cars

Today, burning crops like corn, soybeans and sugar cane for fuel is policy in the U.S., Brazil and the European Union -- while almost 1 billion of the world’s 6.8 billion people are hungry, the most in a generation.

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Exxon May Lift Spending as Rivals Cut

Meanwhile, competitors including Royal Dutch Shell Plc, StatoilHydro ASA, EnCana Corp. and Petro-Canada announced planned spending cuts or postponement of projects, following oil prices’ decline from its peak in July, the report stated.

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Contango Pays Most in Decade as Shell Stores Crude

Shell and Koch Industries Inc. of Wichita, Kansas, also hired four supertankers to hold oil in the U.S. Gulf Coast to take advantage of rising prices in the months ahead. They took Very Large Crude Carriers, or VLCCs, to move oil from the Middle East, said Bruce Kahler, a broker at Lone Star, R.S. Platou in Houston.

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Chevron May Sell Refineries as Demand, Margins Shrink

Chevron Corp., the world’s fourth- largest oil company, may sell some refineries as recessions in the world’s largest economies cut demand for gasoline and diesel, squeezing fuel-production margins.

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Shell Pernis Refinery Fire Contained, Plant Operating

The fire broke out at the refinery near Rotterdam at 1:20 p.m. local time today, said Wim van de Wiel, a spokesman for Europe’s biggest oil company, based in The Hague. Wendel Broere, also a company spokesman, said later the blaze was brought under control by 3:25 p.m. and the incident is now closed.

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Shell fined 10.5 million euros after being caught in another price fixing cartel

“Compliance with antitrust rules remains a top priority for management,” said Wendel Broere, spokesman for The Hague- based Royal Dutch Shell, Europe’s largest oil company, which was fined 10.5 million euros. The company hasn’t decided whether to appeal.

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Showa Shell to Open First Electric Car Recharging Station

Dec. 3 (Bloomberg) -- Showa Shell Sekiyu K.K., the Japanese oil refining unit of Royal Dutch Shell Plc, will open its first battery-charging station as more electric cars take to the road.

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Nexus, Shell May Develop $3 Billion LNG Plant at Crux

Dec. 2 (Bloomberg) -- Nexus Energy Ltd., the Melbourne-based gas explorer set to start production next year, may develop a $3 billion gas liquefaction plant withRoyal Dutch Shell Plc should they find sufficient resources at Australia’s Crux project.

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Shell Studies Partnership for Sugar Plant in Brazil, Valor Says

Cosan is the world’s largest producer of ethanol from sugar cane.

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Shell, ExxonMobil, Chevron and Total SA in running for gas reserves partnership deal with Pertamina

Pertamina has short-listed Royal Dutch Shell Plc, Exxon Mobil Corp. and Total SA among the companies, LNG Intelligence reported in November.

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Crude Declines: Shell dropped 5.3 percent to 1,646 pence

Bloomberg

 

 

Shell dropped 5.3 percent to 1,646 pence. BP, Europe’s second-largest oil company, slid 5.8 percent to 496 pence. Eni SpA, Italy’s biggest, lost 7.2 percent to 16.46 euros.

Crude oil for January delivery fell as much as 8.5 percent to $49.52 a barrel in New York after the Organization of Petroleum Exporting Countries deferred a decision to reduce output for another two weeks.

Slowing global growth means demand will be “much lower” than expected a month ago, OPEC said after the group’s Nov. 29 meeting in Cairo. Another cut on Dec. 17 may not be needed if member states enacted 80 percent of the 1.5 million barrel-a-day reduction agreed in October, Al Hayat reported, citing Saudi Arabia’s Oil Minister Ali al-Naimi. read more

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OPEC Failure Foretells Steeper Decline 10 Years After $10 Oil

Producers such as Royal Dutch Shell Plc are cutting back plans to develop deposits like Canadian oil sands. Shell indefinitely postponed the second-phase expansion of its Athabasca project because of rising construction costs. Shell, based in The Hague, also delayed seeking regulatory approval for Carmon Creek. Higher cost plans require $80-a-barrel oil to be profitable, according to Merrill Lynch.

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Nigeria LNG Declares Force Majeure as Soku Plant Shut

Nov. 28 (Bloomberg) -- Nigeria LNG Ltd. declared force majeure on cargo deliveries after Shell Petroleum Development Co. shut the Soku gas plant in the southern delta to repair damage caused by thieves.

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Shell delays Carmon Creek oil-sands development in Canada

Bloomberg

 

 

By Howard Mustoe

Nov. 28 (Bloomberg) — Dutch Shell Plc (RDSA LN): Europe’s largest oil producer delayed seeking regulatory approval for its Carmon Creek oil-sands development in Canada, the second project the company has slowed as crude prices slide. Shell rose 55 pence, or 3.3 percent, to 1,733 pence.

BLOOMBERG ARTICLE

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Shell Signs Up to Join Australia’s Global Carbon Capture Body

Royal Dutch Shell Plc, Europe’s biggest oil company, will become a founding member of Australia’s A$100 million ($64 million) carbon capture and storage institute aimed at speeding low-emissions power output.

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PetroChina Doubles LNG Purchases in Accord With Shell (Update1)

Nov. 25 (Bloomberg) -- PetroChina Co., the nation's largest oil company, doubled the volume of liquefied natural gas it will buy from Royal Dutch Shell Plc in an agreement to supply terminals being built along China's eastern coast.

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Shell Studies Possible Oil Projects in Iraq, CEO Says (Update1)

Royal Dutch Shell Plc, Europe's largest oil company, is examining possible oilfield projects in Iraq as the nation prepares to issue exploration permits next year, Chief Executive Officer Jeroen van der Veersaid today.

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Cnooc Plans $29 Billion South China Sea Exploration (Update1)

China, the world's second-biggest oil user, is expediting projects including nuclear power plants, gas pipelines and oil refineries to help stimulate the domestic economy and meet future energy demand. The country will overtake the U.S. as the world's biggest oil and gas consumer in about five years, Royal Dutch Shell Plc said in September.

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Recession’s Grip Forces U.S. to Flood World With More Dollars

Nov. 24 (Bloomberg) -- The world needs more dollars. The United States is preparing to provide them. In an all-out assault on capitalism’s worst crisis since the Great Depression, the U.S. is taking on the role of both lender and borrower of last resort for the global economy.

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Shell, Aramco, Petrobras Speed Project Spending Cuts

Nov. 19 (Bloomberg) -- The biggest oil companies including Saudi Aramco,Royal Dutch Shell Plc and Petroleo Brasileiro SA are accelerating spending cuts and delaying projects as the world enters a recession, said Morgan Stanley & Co.

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Oil Tanker Attack May Spur Increased Security, New Routes

Shell's liquefied natural-gas shipments from Qatar may be disrupted by the increased risk of offshore attacks, according to Deloitte's Widdershoven. ``This attack was the biggest thing that could happen and if they can pull this off, they can also hijack an LNG tanker.''

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Europe’s $14 Billion Clean-Coal Proposal May Go Up in Smoke

Nov. 18 (Bloomberg) -- A European proposal to spend 11 billion euros ($14 billion) testing how to pump greenhouse gases underground is itself getting buried.

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Total Plans $15 Billion in Takeovers, Citigroup Says (Update1)

Nov. 17 (Bloomberg) -- Total SA, France's largest oil company, is targeting $5 billion to $15 billion in acquisitions, possibly in the U.S. and Australia, Citigroup Inc. said.

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Shell to Start Brazil Pre-Salt Drilling Late 2009, Valor Says

Nov. 7 (Bloomberg) -- Royal Dutch Shell Plc plans to start drilling Brazilian deepwater oil finds below a salt layer at the end of 2009 in the Epitonio field, in the BM-S-54 block, Valor Economico reported, without saying where it got the information.

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Shell Oil Co. trying to reduce legal costs

Nov. 5 (Bloomberg) --Companies including Square Enix, Shell Oil Co. and Fidelity Investments are trying to reduce legal costs after swallowing 6 percent to 9 percent annual fee increases for the past eight years, according to the Association of Corporate Counse

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Total Adjusted Net Rises 36% on Record Crude Prices (Update1)

Total's oil and gas production was 2.231 million barrels of oil equivalent a day in the quarter, compared with 2.352 million barrels a day in the year-earlier period and 2.353 million barrels in the previous quarter. European competitors Royal Dutch Shell Plc and BP Plc last week reported increases in dollar-denominated profit of 22 percent and 83 percent, respectively.

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Saudi Aramco Names Khalid Al-Falih as Chief Executive

Al-Falih also chaired the country's natural gas exploration, a venture between Aramco and Royal Dutch Shell Plc.

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Shell, BP May Post Higher Profit; Investment Plans Under Review

Oct. 27 (Bloomberg) -- Royal Dutch Shell Plc and BP Plc, Europe's largest oil companies, may say third-quarter earnings rose from a year earlier while falling short of record second- quarter profits, after crude fell 53 percent from its July peak.

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Shell Chemical Louisiana Plant May Start Up in Next Two Days

Oct. 24 (Bloomberg) -- A chemical plant operated by Royal Dutch Shell Plc, Europe's second-largest oil company, may return to service in the next two days after an unidentified failure caused the shutdown of two units.

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OPEC Plans Supply Cut as Crude Oil Heads Toward $50 (Update1)

The prospect of OPEC cuts, slowing economic growth and falling prices drove theDow Jones Europe Stoxx Oil & Gas Index down 25 percent in the past five weeks. Irving, Texas-based Exxon Mobil, the world's biggest oil company, fell 37 percent this year, while The Hague-based Royal Dutch Shell Plc, the second-biggest, lost 33 percent.

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Chevron Says Australian Carbon-Trading Plan Is a Threat to LNG

The Australian government proposes to start a carbon trading system on July 1, 2010, to tackle emissions blamed for global warming. Woodside Petroleum Ltd. and Royal Dutch Shell Plc are among other LNG producers in Australia who say a proposed draft of the plan, which excludes LNG companies from free emissions allowances, would threaten new projects.

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Woodside Delays Some Recruiting on Economic Slowdown (Update1)

Woodside, 34 percent owned by Royal Dutch Shell Plc, is building the A$12 billion ($8.4 billion) Pluto LNG project off the northwest coast and proposes to develop LNG ventures at the Sunrise field in the Timor Sea and at the Browse fields in Western Australia's far northwest.

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China’s Oil Refining Capacity to Rise at Twice Demand Growth

China's crude-oil demand may rise 5 percent to 8.4 million barrels a day in 2009, the International Energy Agency said Oct. 10. The nation will surpass the U.S. as the world's biggest energy consumer in about five years, Royal Dutch Shell Plc said in September.

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Oil Industry Must Step Up Cooperation on Carbon, Executive Says

The global financial crisis, which threatens to slow international efforts to tackle global warming, makes collaboration more important, Roodhart, who is also head of strategic innovation at Royal Dutch Shell Plc's international unit, said in an interview.

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Chevron to Maintain Asian Spending, Unfazed by Crisis

Chevron's proposed Gorgon LNG project has already been delayed several years. It was first put on hold in 1998 when the Asian economic crisis hit. More recently, the venture, which includes Royal Dutch Shell Plc and Exxon Mobil Corp., scrapped a timeline for approving and building the plant as they seek to tackle a surge in construction costs.

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Shell Leads Oil Stocks to 5-Year Low on Economy Fears (Update2)

Royal Dutch Shell Plc, Europe's largest oil producer, lost 9.3 percent to close at 1,303 pence, a record low.

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Shell, 46 States and DC, to Curb Youth Tobacco Sales

Shell Oil Products U.S., a unit of Royal Dutch Shell Plc, agreed with the attorneys general of 46 states and the District of Columbia to help curb sales of tobacco products to minors at about 13,000 gas stations.

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Shell Gets U.S. High Court Hearing on Cleanup Suits

Shell, an affiliate of Royal Dutch Shell Plc, argued that it wasn't to blame for what it called ``sloppy handling'' of chemicals by Brown & Bryant Inc., the now-defunct company that operated the facility. Shell sold Brown & Bryant chemicals that leaked into the ground, threatening water supplies

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Shell May Form $1.7 Billion Siberian Venture, Kommersant Says

Shell may pay $1.7 billion for half of a venture that will develop the Srednebotuobinskoye field in eastern Siberia, the newspaper reported today, citing an unidentified person with knowledge of the talks

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Sibir’s Tchigirinski Plans Projects With Shell, Rules Out Sale

Tchigirinski denied a Financial Times report today that said Shell poised to buy a holding in Sibir this year. ``We aren't selling a stake,'' the businessman said by phone.

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Bolivia Seizes Transredes Gas Pipeline From Shell

Shell, Europe's largest oil producer, can't comment on the takeover until it has a chance to review and assess the action, said Eurwen Thomas, a spokesman in London for the company.

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