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Saturday, December 15, 2012
Saturday, 15 Dec 2012 9:33pm
From: Alfred Clayton
Friday, December 14, 2012
Shell fuels rumours of BP buyout plan
Shell fuels rumours of BP buyout plan
Shell has reignited speculation about a potential takeover of BP…
Anglo-Dutch oil group’s boss says a takeover was considered in past two years and refuses to deny it has dropped the idea
Shell has reignited speculation about a potential takeover of BPafter its chief executive spoke publicly about the Anglo-Dutch group’s recent interest in buying its fiercest rival, whose share price is still recovering from the Gulf of Mexico blowout.
Peter Voser, the Shell boss, told a German newspaper that Shell had considered a move on BP in the past two years and answered “no comment” to the question of whether that ambition remained.
“I can’t imagine that there was anyone in our industry that didn’t have a look at it. At the end of the day we’re all business people,” Voser is quoted as saying.
Former BP chief executive John Browne revealed in his memoirs that discussions had taken place between the two companies in 2004 when Shell was smaller by market capitalisation.
But Voser’s comments that Shell considered making a bid for BP in the past two years, according to an advance copy of Frankfurter Allgemeine Zeitung, will inevitably rekindle excitement in the City that a mega-merger could still be on the cards. Voser noted that following the oil spill in the Gulf of Mexico in April 2010, BP’s share price fell sharply, and still had not completely recovered.
Equity analysts have speculated over the past 18 months that a BP wounded by the Deepwater Horizon accident was dangerously vulnerable to a foreign predator.
But big state-owned groups from China and Russia were seen as the most likely potential buyers, with all the political ramifications that would come with those kinds of approaches.
BP has recently agreed a multibillion-pound share swap and exploration deal with Russia’s state-controlled oil company, Rosneft, but there would be nothing to stop a Shell bid for BP’s wider share capital.
The London-based BP is still suffering from a near $40bn (£24.7bn) sell-off of global assets needed to pay for the claims and liabilities from the Gulf of Mexico oil spill. At their lowest point in early June 2011, BP shares were trading at just 296p, valuing the group at £55.6bn compared to a high of more than double that before the oil spill – worst such incident in the US.
They have since moved up to 426p but the oil group is still dogged by the US department of justice, which is pressing on with a criminal case and reiterating its belief that it may have been grossly negligent.
Legal specialists have indicated that a successful gross negligence charge would leave BP facing penalties of more than $20bn under the local Clean Water Act.
In the same interview, Voser warned that Europe shouldn’t reject fracking as a means of extracting natural gas from shale. “Europe should know that it’s about the competitiveness of its industry,” he said, after Britain this week decided to allow the controversial shale drilling technique to restart. The US has gained immense industrial benefits from lower natural gas prices over the past few years, Voser added.
The gas price there has fallen hugely after the US allowed its shale gas reserves to be exploited using the process, but the practice is still banned in France due to environmental concerns.
Posted in: BP, Environment, Gas, Gulf of Mexico, Litigation, Oil, Peter Voser, Royal Dutch Shell Plc, Shale Gas, Shale Oil, The Guardian, United States.
Tagged: BP · Gulf of Mexico · Litigation · Oil · Peter Voser · Royal Dutch Shell Plc
Tagged: BP · Gulf of Mexico · Litigation · Oil · Peter Voser · Royal Dutch Shell Plc
The TRUTH will set you FREE.
Others Should Follow Waitrose’s Lead – Put Shell on Ice!
Others Should Follow Waitrose’s Lead – Put Shell on Ice!
In a double blow to Shell, Waitrose have also declared their support for Greenpeace’s ‘Save the Arctic’ campaign – to create a global sanctuary in the high Arctic.
Posted: 13/12/2012 11:41
This was meant to be a blog about Waitrose’s relationship with fossil fuel giant Shell (Waitrose had been considering plans to open up shops in Shell petrol stations across the country), calling on Waitrose to end their partnership with the mass polluter.
But Waitrose must be mind-readers because on Wednesday they did just that. Well they didn’t quite go that far, but they did say they have put any further plans on hold, or as environmental group Greenpeace preferred to call it, on ice.
In a double blow to Shell, Waitrose have also declared their support for Greenpeace’s ‘Save the Arctic’ campaign – to create a global sanctuary in the high Arctic. This follows two weeks of intense pressure by Greenpeace and this weekend London’s local Greenpeace groups were set to hold massive protests on Waitrose stores across the capital – instead the focus will now be switched directly towards Shell. But despite the Waitrose success, the challenge ahead of us is massive; Shell are still planning to drill in the Arctic which could have massive consequences for climate change and biodiversity in the region. Other companies who are engaged in relationships with Shell should learn from Waitrose and dump Shell.
Waitrose should be praised for the decision they have taken today, but what on earth were they thinking? From destroying local African fishing communities to their plans for Arctic drilling, there seems no limit to the length that Shell will go to to extract more and more of that fossil fuel we all must vein ourselves off to avoid dangerous and catastrophic climate change. In their quest to get their hands on that fossil fuel, they do so leaving large footprints of destruction behind them.
Therefore it’s quite worrying that a company of Waitrose’s calibre, who have spent years building up their ethical credentials, could even consider a partnership with Shell. Some of the Waitrose customers that boycotted them upon finding out about their relationship with Shell will return in the wake of yesterday’s news, but some will also undoubtedly question if they still trust the Supermarket retailer. There is no doubt that Waitrose’s brief stint with Shell will be expensive and something they can’t repair overnight.
This also highlights the deeper issue of the power and dominance of the fossil fuel industry. Oil and gas companies are desperate to line-up relationships that could make them look like companies that care about the environment. Companies who have become a victim of this behaviour should look at what happened with Waitrose in horror and be weary of entering a partnership with fossil fuel companies and if they’re in one they should look to get out while they still can – it will not be a relationship with a happy ending.
Follow Anders Lorenzen on Twitter: www.twitter.com/Alorenzen
Posted in: Alaska, Arctic, Business Principles, Environment, Greenpeace, Oil, Oil Spill,Pollution, Royal Dutch Shell Plc, United States.
Tagged: Alaska · Arctic Ocean · Chukchi Sea · HuffingtonPost.com · Oil · Royal Dutch Shell Plc · Waitrose
Tagged: Alaska · Arctic Ocean · Chukchi Sea · HuffingtonPost.com · Oil · Royal Dutch Shell Plc · Waitrose
The TRUTH will set you FREE.
Wednesday, December 12, 2012
Tuesday, December 11, 2012
More Than a Picture!
From: Alfred Clayton
Date: Tue, Dec 11, 2012 at 5:31 AM
The line that hooked me was "wherever there is a human being there is kindness".
More Than a PictureNeed to go to end and
be slow at the end.------------------------------------------------------------------------Prayer requestACLU has filed a suit to end prayer from the military completely. They're making great progress.The Navy Chaplains can no longer mention Jesus' name in prayer thanks to the ACLU and others.I'm not breaking this one.If I get it a 1000 times, I'll forward it a 1000 times!Let us pray...Prayer chain for
our Military...
Don't break it!Please send this on
in your loving hands
Protect them as they protect us
When you receive this,
please stop for a moment
and say a prayer for
our troops around the world.There is nothing attached.
Just send this to people
in your address book.
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SHELL CIRCUMVENTED RA 7641
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HOT PURSUIT
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