NAM Shell/Exxon JV cease oil production at Schoonebeek field

NAM Shell/Exxon JV cease oil production at Schoonebeek field

Jun 5th, 2015 

by John Donovan. 

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Schoonebeek – The Dutch Petroleum Company (NAM) – a Shell/Exxon joint venture – announced today that oil production on the fields near Schoonebeek have been shut down due to pipeline damage.

The pipeline that transports dirty production water (for injection in empty gas-fields in Twente) has been corroded in many places and is leaking.

The salty water is released during the extraction of oil and is drained via the pipeline to the Twente. 

The pipe has diameter of 50 cm at a depth of 1.70 meters and has been in operation since 2011. 

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Posted in: Environment, Gas, NAM, Netherlands, Oil, Royal Dutch Shell Plc.
Tagged: ExxonMobil · Gas · Oil · Royal Dutch Shell Plc · Shell

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BG deal disguises a hole in Shell’s financial projections

BG deal disguises a hole in Shell’s financial projections

Jun 5th, 2015 

by John Donovan. 

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The market is having one of its periodic anxiety attacks about Big Oil. 

BG deal disguises a hole in Shell’s financial projections and the dividend is not sustainable.

Shell shares have slumped by 14%.

sort of yield may not come again.

FULL FT ARTICLE:  5 June 2015 (WITH WORKING LINKS)

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Posted in: Ben van Beurden, BG Group, BP, Chevron, Conoco Phillips, Exxon Mobil, Oil,Oil Prices, Royal Dutch Shell Plc.
Tagged: BP · Chevron · ExxonMobil · Gas · Oil · Royal Dutch Shell Plc · Shell

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Shell IT Centre Bengaluru

Shell IT Centre Bengaluru

Jun 5th, 2015 

by John Donovan. 

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Article by  BusinessInsider.in published 5 June 2015 under the headline:

Coming up! The Shell IT Centre Bengaluru

Global energy giant Shell has chosen Bengaluru for setting up its largest captive unit or global offshore delivery centre. The unit would provide more than 5,000 jobs in the Silicon Valley.

As per an Economic Times report, the new in-house global information technology centre, The Shell IT Centre Bengaluru, would be used to provide IT services to Shell’s businesses including upstream oil and gas production, marketing and other projects.

“The company has a large IT set-up in Malaysia, US and UK and will be moving all its global IT jobs to Bengaluru,” said two people in direct knowledge of the development.

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Posted in: India, Royal Dutch Shell Plc.
Tagged: Royal Dutch Shell Plc

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Will China’s Ministry Of Commerce Block Shell-BG Deal?

Will China’s Ministry Of Commerce Block Shell-BG Deal?

Jun 5th, 2015 

by John Donovan. 

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Jun. 4, 2015 3:15 PM ET

Will China’s Ministry Of Commerce Block Shell-BG Deal?

Summary

• Shell-BG deal is likely to face most scrutiny in China.
• MOFCOM is likely to approve the merger with conditions.
• These conditions could involve both structural and behavioral remedies.

Ever since Royal Dutch Shell (NYSE:RDS.A) (NYSE:RDS.B)announced to acquire BG Group’s (OTCPK:BRGXF) natural gas assets and deep-water oil fields in a $70 billion deal, there have been concerns that the deal may be delayed, if not blocked, due to prolonged scrutiny from regulators around the world. While the deal could face potential hurdles in EU, Australia, China, and Brazil, I think it is unlikely to be blocked by any country. However, I think China is likely to raise majority of the concerns and therefore, I’m going to focus on China in this article.

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Posted in: Ben van Beurden, BG Group, Bidness Etc, China, Gas, LNG, Royal Dutch Shell Plc, Shell.
Tagged: Ben van Beurden · BG Group · China · Gas · Royal Dutch Shell Plc · Seeking Alpha · Shell

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Shell’s former chair calls fossil fuel divestment ‘rational’

Shell’s former chair calls fossil fuel divestment ‘rational’

Jun 5th, 2015 

by John Donovan. 

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Shell’s former chair calls fossil fuel divestment ‘rational’

By Steve Hargreaves: 4 June 2015

The former chairman of Royal Dutch Shell said selling oil stocks is a “rational” response to the failure of the oil industry to take meaningful action on climate change.

He is the latest to lend support to the growing campaign for investors to dump shares of fossil fuel companies.

“Divestment is a rational approach,” Mark Moody-Stuart was quoted by the Guardian as saying during a recent dinner in London. “If you think your money can be used somewhere else, you should switch it. Selective divestment or portfolio-switching is actually what investors should be doing.”

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Posted in: Alternative Energy, Alternative Fuels, Climate Change, CNNMoney.com, Oil,Royal Dutch Shell Plc, Shell.
Tagged: Global Warming · Mark Moody-Stuart · Royal Dutch Shell Plc · Shell

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What if Congress restored the estate tax to the level it was in the late 1990s?

Dear friend,

To prevent the rise of a new aristocracy, we need to raise the estate tax—a tax on inherited wealth. And we need to do it now.

The richest 1 percent of Americans hold 42 percent of our nation's wealth.¹ We haven't seen this concentration of wealth since the Gilded Age of the late 1800s. Raising the estate tax on the wealthiest Americans is one way to fight back against growing inequality.

Yet some lawmakers in Congress actually want to eliminate the tax on inherited wealth.

Well, that's just crazy.   What if Congress restored the estate tax to the level it was in the late 1990s? Watch Raise the Estate Tax to see how much revenue that would generate, and what that new revenue stream could fund. 

Raise the Estate Tax is the latest in the "Big Picture" series I'm working on with MoveOn. And MoveOn members will campaign together on the ideas that we're all most excited about.

If you believe we need to tackle growing inequality—and we need to do it now—you won't want to miss watching and sharing this video.

Thanks for all you do.

–Robert Reich

P.S. This is the eighth idea in our "Big Picture" series. In case you missed the first seven, once you've watched Raise the Estate Tax, be sure to check out the rest of the videos. Remember, by watching and then sharing individual "Big Picture" videos, you're showing that you're excited about a particular idea—which will help us hone in on what to work on in the coming months.

Source:

1. "How Unequal We Are: The Top 5 Facts You Should Know About The Wealthiest One Percent Of Americans," Think Progress, October 3, 2011
http://www.moveon.org/r?r=304637&id=118938-19913724-VSBzoJx&t=2 

The TRUTH will set you FREE.

What if Congress restored the estate tax to the level it was in the late 1990s?

Dear friend,

To prevent the rise of a new aristocracy, we need to raise the estate tax—a tax on inherited wealth. And we need to do it now.

The richest 1 percent of Americans hold 42 percent of our nation's wealth.¹ We haven't seen this concentration of wealth since the Gilded Age of the late 1800s. Raising the estate tax on the wealthiest Americans is one way to fight back against growing inequality.

Yet some lawmakers in Congress actually want to eliminate the tax on inherited wealth.

Well, that's just crazy.   What if Congress restored the estate tax to the level it was in the late 1990s? Watch Raise the Estate Tax to see how much revenue that would generate, and what that new revenue stream could fund. 

Raise the Estate Tax is the latest in the "Big Picture" series I'm working on with MoveOn. And MoveOn members will campaign together on the ideas that we're all most excited about.

If you believe we need to tackle growing inequality—and we need to do it now—you won't want to miss watching and sharing this video.

Thanks for all you do.

–Robert Reich

P.S. This is the eighth idea in our "Big Picture" series. In case you missed the first seven, once you've watched Raise the Estate Tax, be sure to check out the rest of the videos. Remember, by watching and then sharing individual "Big Picture" videos, you're showing that you're excited about a particular idea—which will help us hone in on what to work on in the coming months.

Source:

1. "How Unequal We Are: The Top 5 Facts You Should Know About The Wealthiest One Percent Of Americans," Think Progress, October 3, 2011
http://www.moveon.org/r?r=304637&id=118938-19913724-VSBzoJx&t=2 

The TRUTH will set you FREE.