‘It’s just too big a prize': Why Shell sticks to Chukchi plans, despite obstacles

‘It’s just too big a prize': Why Shell sticks to Chukchi plans, despite obstacles

Aug 5th, 2015 

by John Donovan. 

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Ann Pickard

Alaska Dispatch News: August 5, 2015

Despite tumbling oil prices, rising costs, legal woes, heated political opposition and a series of missteps and misadventures, Royal Dutch Shell is pushing forward with its plan to drill for oil in the offshore regions of Alaska’s remote Chukchi Sea.

Why?

In a wide-ranging narrative,Bloomberg Business details the company’s struggles in Alaska’s Arctic waters, and why it decided, after intense deliberation, to continue efforts to develop the Chukchi prospect.

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Posted in: Alaska, Arctic, Environment, Greenpeace, Oil, Royal Dutch Shell Plc, Shell.
Tagged: Alaska · Alaska Dispatch · Arctic Ocean · Chukchi Sea · Oil · Oil Prices · Royal Dutch Shell Plc

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Shell given OK to take 21 days to cap a deep well oil blowout off N.S. coast

Shell given OK to take 21 days to cap a deep well oil blowout off N.S. coast

Aug 5th, 2015 

by John Donovan. 

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By Zachary Markan, CBC News Posted: Aug 05, 2015

Federal Environment Minister Leona Aglukkaq has signed off on Shell Canada’s plan for dealing with a potential deep-well blowout on the Shelburne Basin.

Under its Well Containment Plan, Shell says it can have a primary capping stack in place within 12 to 21 days after a blowout.

Aglukkaq signed off on the Canadian Environmental Assessment Agency’s environmental assessment of the Shelburne Basin Venture Exploration Drilling Project on June 15.

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Posted in: Africa, Canada, Oil, Royal Dutch Shell Plc, Shell.
Tagged: Canada · Royal Dutch Shell Plc · Shell

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Chevron Corporation, Royal Dutch Shell Plc & Other Oil Co.s Have Lost $1.3 Trillion Since Last Year

Chevron Corporation, Royal Dutch Shell Plc & Other Oil Co.s Have Lost $1.3 Trillion Since Last Year

Aug 5th, 2015 

by John Donovan. 

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By: MICHEAL KAUFMAN: Aug 5, 2015

As the global benchmark of crude, Brent currently hovers around $50 per barrel. Meanwhile, the oil and gas industry has lost $1.30 trillion of its value this year, and this eroded value equals the annual gross domestic product (GDP) of Mexico. The combined market capitalization of 157 listed oil and exploration and production (E&P) companies in North America has dropped from $3.80 trillion last June to around $2.50 trillion this July, marking a decline of 34.20%.

The crude prices have dropped more than 50% since last June, as they fell from $114 to around $50. The declining oil prices have forced oil companies, including Royal Dutch Shell plc (ADR) (NYSE:RDS.A), Total SA (ADR) (NYSE:TOT), and BP plc (ADR) (NYSE:BP) to cut their spending, as BP has started testing projects that will give it a profit of $60 per barrel. Total keeps the price outlook at $70, while Shell keeps it at between $70-110.

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Posted in: Bidness Etc, Bloomberg, BP, Chevron, Oil Company Profits, Oil Prices, Royal Dutch Shell Plc, Total.
Tagged: BP · Chevron · Oil Prices · Royal Dutch Shell Plc · Shell · Total

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Ross Hunter – a curious choice to count the beans at Royal Dutch Shell Plc?

Ross Hunter – a curious choice to count the beans at Royal Dutch Shell Plc?

Aug 5th, 2015 

by John Donovan. 

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Strange article in the Prufrock column of The Sunday Times published 2nd August 2015

KEEPING the books for a £200bn behemoth is an endlessly taxing task. Just ask Simon Henry, Royal Dutch Spell’s finance director, who last week unveiled a plunge in profits of almost 40%.

Thankfully, he can call on exemplary advice to help keep track of Shell’s petrodollars. The company’s chief auditor is Ross Hunter at PwC – a man with an interesting past. According to the accounting firm’s website, Hunter helped Nat Rothschild’s Bumi in its “transition from a cash shell to a leading Indonesia-based thermal coal group”.

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Posted in: John Donovan, Oil, Royal Dutch Shell Plc, Simon Henry, The Times.
Tagged: PwC · Ross Hunter PwC · Royal Dutch Shell Plc

The TRUTH will set you FREE.

Inside Shell’s Extreme Plan to Drill for Oil in the Arctic

Inside Shell’s Extreme Plan to Drill for Oil in the Arctic

Aug 5th, 2015 

by John Donovan. 

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by Paul Barrett and Benjamin Elgin: 5 August 2015:BLOOMBERG.COM

Protesters near the Polar Pioneer.: Photographer: Keri Coles/Greenpeace

Ann Pickard – Shell VP Arctic Drilling

In a windowless conference room in Anchorage, a dozen Royal Dutch Shell employees report on the highest-profile oil project in the multinational’s vast global portfolio. Warmed by mid-July temperatures, Arctic ice in the Chukchi Sea, northwest of the Alaskan mainland, is receding. Storms are easing; helicopter flights will soon resume. Underwater volcanoes—yes, volcanoes—are dormant. “That’s good news for us,” Ann Pickard, Shell’s top executive for the Arctic, whispers to a visitor.

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Posted in: Alaska, Ann Pickard, Arctic, Ben van Beurden, Bloomberg, BP, Chevron,Chukchi Sea, Climate Change, Conoco Phillips, Environment, Exxon Mobil, Greenpeace,Gulf of Alaska, Gulf of Mexico, Litigation, Nigeria, Oil, Oil Prices, Oil Spill, Pollution,President Obama, Royal Dutch Shell Plc, Shell, Shell Employee Safety, Shell Job Cuts,Shell Oil Reserves Scandal, United States.
Tagged: Alaska · Arctic Ocean · BP · Chevron · Chukchi Sea · ConocoPhillips ·ExxonMobil · Gulf of Mexico · Nigeria · Oil · Oil Prices · Royal Dutch Shell Plc · Shell

The TRUTH will set you FREE.