Shell Corrib Gas 12 years behind schedule and four times over budget
Extract from an article by Nick Webb published Sunday 02 March 2014 by Independent.ie
THE controversial Corrib gas field is expected to come onstream by “mid 2015.” Gas was originally expected to flow from the Mayo field back in 2003. The project is now likely to be 12 years behind the original schedule. The cost of developing the field could be four times the initial estimate of €800m at over €3bn.
ADDED BY JOHN DONOVAN: “The Bad News” slide appeared in a 62 page Royal Dutch Shell internalPowerPoint presentation prepared in June 2000: “Excom Early Look Business Plan 2000″. Turned out to be chillingly accurate in relation to many Shell projects, including Sakhalin2 and the Alaska debacle.
Tagged: Corrib Gas Project · Gas · Royal Dutch Shell Plc · Russia · Sakhalin 2
Shell’s Troubles in Nigeria Continue
Extracts from an article by Nick Cunninghampublished by Oilprice.com on 27 Feb 2014
Royal Dutch Shell (NYSE: RDS-B) is in the midst of a flurry of sell offs to fix its balance sheet, unloading billions of dollars of assets as quickly as it can. Shell’s problems worsened this week – it was forced to shut down a major pipeline in Nigeria to stop leakage and theft, a blow to a company that hoped to right the ship. The latest troubles in Nigeria add to Shell’s problems, which has been plagued by insecurity in the Niger delta for years. It was implicated in human rights violations in the 1990′s for its cooperation with the Nigerian government as it violently suppressed local opposition. Shell has also been accused of excessive gas flaring and oil spills, and as a major player in the horribly contaminated Niger Delta
Posted in: Business Principles, Environment, Human Rights, Nigeria, Oil, Oil Company Profits, Oil Spill, Royal Dutch Shell Plc.
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