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Keyword: shell

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  • Bill Clinton has a mysterious shell company

    05/26/2015 1:07:27 PM PDT · by SeekAndFind · 21 replies
    Business Insider ^ | 05/25/2015 | Stephen Braun, Associated Press
    The newly released financial files on Bill and Hillary Rodham Clinton's growing fortune omit a company with no apparent employees or assets that the former president has legally used to provide consulting and other services, but which demonstrates the complexity of the family's finances. Because the company, WJC, LLC, has no financial assets, Hillary Clinton's campaign was not obligated to report its existence in her recent financial disclosure report, officials with Bill Clinton's private office and the Clinton campaign said. They were responding to questions by The Associated Press, which reviewed corporate documents. The officials, who spoke on condition of...
  • 'Paddle in Seattle' Arctic oil drilling protest

    05/18/2015 7:53:11 PM PDT · by Lorianne · 12 replies
    BBC ^ | 17 May 2015
    Hundreds of people in kayaks and small boats have staged a protest in the north-western US port city of Seattle against oil drilling in the Arctic by the Shell energy giant. Paddle in Seattle was held by activists who said the firm's drilling would damage the environment. It comes after the first of Shell's two massive oil rigs arrived at the port. The firm wants to move them in the coming months to explore for oil off Alaska's northern coast. Earlier this week, Shell won conditional approval from the US Department of Interior for oil exploration in the Arctic. The...
  • Seattle, Like It or Not, Becomes Shell's Arctic Base

    05/14/2015 2:44:36 PM PDT · by Oldeconomybuyer · 23 replies
    ABC News ^ | May 14, 2015 | By PHUONG LE
    The arrival in Seattle Thursday of an oil rig Royal Dutch Shell is outfitting for oil exploration in the remote Arctic Ocean marks a pivotal moment for an environmental movement increasingly mobilized around climate change. Activists paddling out in kayaks to meet the rig off Seattle's picturesque waterfront said it's their moment to stand against opening a new frontier of fossil fuel exploration. "Unless people get out there and put themselves on the front lines and say enough is enough, than nothing will ever change," said Jordan Van Voast, 55, an acupuncturist who was going out on the water to...
  • Administration Gives Conditional Approval for Shell to Drill in Arctic

    05/11/2015 1:18:36 PM PDT · by Theoria · 36 replies
    The New York Times ^ | 11 May 2015 | Coral Davenport
    The Obama administration gave conditional approval on Monday for Shell Gulf of Mexico, Inc. to start drilling for oil and gas in the Arctic Ocean this summer. The approval is a major victory for Shell and the rest of the petroleum industry, which has sought for years to drill in the remote waters of the Chukchi seas, which are believed to hold vast reserves of oil and gas. “We have taken a thoughtful approach to carefully considering potential exploration in the Chukchi Sea, recognizing the significant environmental, social and ecological resources in the region and establishing high standards for the...
  • Shell’s Arctic Ambitions Held Up In Seattle

    05/06/2015 7:54:23 AM PDT · by bananaman22 · 5 replies ^ | 06-05-2015 | The Balvenie
    Shell’s ambitious plans to finally return to the Arctic face yet another hurdle, one that could delay drilling once again. Shell is using the port of Seattle as its base for some of its vessels that it will use in the Arctic. Seattle has been a launching point for Shell in the past (and has hosted Alaskan drilling equipment for decades), but a new greener municipal government is taking a harder look at Shell’s operations. Spurred on by Shell’s error-ridden 2012 campaign in the Arctic that culminated in the grounding of the Kulluk, environmental groups have mustered up some political...
  • Can Shell Afford To Drill In The Arctic?

    04/29/2015 11:46:17 AM PDT · by bananaman22 · 8 replies ^ | 29-04-2015 | drillstem
    How can Shell possibly finance the purchase of BG? Royal Dutch Shell is set to report its first quarter earnings, and by all accounts, it will be a doozy. Analysts predict a 60 percent decline in earnings from a year earlier, including a massive 7 percent fall in production. But the price tag for BG will be $70 billion, a colossal sum in a period of low oil prices. Shell has already said that it would undertake a major divestment campaign to rid itself of assets it does not see as integral to its future. Purchasing BG is a sign...
  • Shell inks $70 billion deal as Big Oil gets even bigger

    04/08/2015 6:16:24 AM PDT · by thackney · 9 replies
    CNN Money ^ | April 8, 2015 | CNN Money
    The latest example is Royal Dutch Shell's bid for BG Group, a British firm with a stockpile of prized oil fields off the coast of Brazil, and lucrative natural gas holdings in Australia. The companies announced the £47 billion ($70 billion) deal early Wednesday. It's the biggest in the sector since Exxon bought Mobil in 1998, according to Dealogic. Shell will pay a 50% premium to BG's closing share price of £9.10 ($13.56) on Tuesday. If completed, the purchase will add 25% to Shell's oil and gas reserves and 20% to production. Shell also expects "synergies" of around $2.5 billion,...
  • Exxon, Shell's spending patterns may help them through oil price drop

    03/11/2015 4:53:19 AM PDT · by thackney
    Reuters ^ | March 11, 2015 | Reuters
    The world's two biggest oil firms, Exxon Mobil Corp and Royal Dutch Shell, may withstand the oil price collapse better than their rivals because they are closer to finishing expensive investment projects while others must keep spending. The near halving of oil prices since June is likely to send all the biggest listed oil companies into negative cash flow this year, and has sparked a rush to cut costs across the sector as a result. But depending on where they are in their spending cycles, some companies are finding those cuts easier to make than others. "Both (Exxon and Shell)...
  • Wolf tax proposal puts Beaver County Shell plant at risk

    02/26/2015 7:28:10 AM PST · by RS_Rider · 27 replies
    Pittsburgh Tribune Review ^ | Feb. 25, 2015 | David Conti
    Royal Dutch Shell warned Gov. Tom Wolf that policies which hurt gas production could affect the company's decision on whether to build a multibillion-dollar plant in Beaver County to turn ethane into plastics, the head of a gas industry group said Wednesday. “I sat in a meeting with Gov. Wolf in August, where leadership from Shell looked the now-governor directly in the eye and said, ‘If you jeopardize the ethane supply, we likely don't invest here,' ” Marcellus Shale Coalition President David Spigelmyer told Tribune-Review editors and reporters. “That's a big deal. We need to make sure we have opportunities...
  • U.S. refinery strike spreads to one-fifth of national capacity

    02/22/2015 11:34:52 AM PST · by thackney · 12 replies
    Reuters ^ | Feb 22, 2015 | ERWIN SEBA
    The largest U.S. refinery strike in 35 years entered its fourth week as workers at 12 refineries accounting for one-fifth of national production capacity were walking picket lines as of 12 a.m. CST on Sunday, according to union officials. A total of 6,550 members of the United Steelworkers union at 15 plants, including the 12 refineries, are involved in the work stoppage that began on Feb. 1 when talks for a new three-year contract between the USW and lead oil company negotiator Shell Oil Co stopped.... After the latest breakdown between the two sides, Steelworkers leaders targeted Shell, which is...
  • Former Shell President Hofmeister Sees Oil at $80 by the Summer

    01/25/2015 10:49:41 PM PST · by Citizen Zed · 9 replies
    The Street ^ | 1-22-2015 | Michelle Rama-Poccia
    When a massive truck slams on the brakes to avoid a crash, it takes awhile for it to get back up to highway speed again. That, in essence, is the problem oil companies will face when they want to increase production if supplies start to fall short. The selloff in crude oil has put drilling on hold. Unless more drilling resumes soon, a surplus of 1 million barrels a day will be exhausted. John Hofmeister, a former president at Royal Dutch Shell , predicts that will happen by the summer and will send prices up to $80 a barrel. "When that cost correction...
  • Major corporations funding “gay” indoctrination in elementary schools across America.

    12/29/2014 7:27:53 AM PST · by massmike · 59 replies ^ | 12/29/2014 | n/a
    It's every parent's nightmare, but true: Major U.S. corporations are funding a campaign of sophisticated, psychologically intrusive "gay" indoctrination programs targeting very young children in elementary schools across America. It’s part of a very well-planned and well-funded effort to reach children as young as possible without their parents’ intervention. The national program, called “Welcoming Schools”, skillfully works on the minds of young children in three ways: (1) Introducing the concept of homosexuality to children. (2) Telling them that homosexuality is normal and natural. (3) Telling them that their parents or friends who portray homosexuality in a less than positive way...
  • Saudi Gas Development Plans Hit..

    07/07/2014 9:39:07 PM PDT · by Rabin · 10 replies
    Rigzone ^ | July 07, 2014 | Rania El Gamal; editing by Sami Aboudi and John Stonestreet
    Royal Dutch Shell is ending investments in a gas development project in Saudi Arabia. The emergence of the shale gas industry has opened up more lucrative opportunities for energy companies elsewhere. Shell has decided to end further investment in the Kidan area of the Empty Quarter, the sea of sand dunes that cover south-east Saudi Arabia. Italy's ENI, Spain's Repsol and France's Total - have already abandoned the search for commercially viable gas deposits in that part of Saudi Arabia. Kidan, rich in sour gas...
  • Shell tells Putin gas project not derailed by Ukraine

    04/19/2014 7:57:00 PM PDT · by PaulCruz2016 · 9 replies
    Russia Today ^ | 04-18-2014 | Staff
    Royal Dutch Shell’s new CEO Ben Van Beurden met with Russian President Vladimir Putin on Friday, signaling Ukraine tension has not affected investment in Russia, and that energy contracts won't be derailed by international politics. Chief executive Van Beurden met with the president at his residence outside of Moscow and reaffirmed the company’s commitment to develop Russia’s only liquefied natural gas (LNG) plant with Gazprom. "We also know that this is going to be a project that will need strong support to succeed. So one of my purposes of meeting with you, Mr. President, is to also secure support for...
  • Shell joins ranks in fight against climate change

    04/11/2014 2:40:07 AM PDT · by lowbridge · 15 replies ^ | april 10, 2014 | Laura Barron-Lopez
    Oil giant Royal Dutch Shell is taking the road less traveled by supporting strong cuts to greenhouse gas emissions. Shell signed a non-binding document, called the Trillion Tonne Communique, along with 70 other companies like Adidas and Unilever, which calls for ambitious timelines to bring global greenhouse gas emissions to "net zero" by the end of the century. "We recognize that over the long term, net global emissions must trend towards zero. Both of our New Lens Scenarios show that this objective can be realized by the end of this century, but not without action by governments to stimulate changes...
  • Cruz: Harry Reid thinks Koch brothers are the Grinch who stole Christmas

    03/14/2014 8:05:11 AM PDT · by Laissez-faire capitalist · 21 replies
    BizPac Review ^ | 3/14/2014 | Tom Tillison
    As the U.S. Senate took up a bill to provide financial aid to Ukraine, U.S. Senator Ted Cruz, R-Texas, rose to object to an IMF bailout Majority Leader Harry Reid attached to the legislation. In the process he blasted Reid for repeatedly demonizing the billionaire Koch brothers - Reid tried to blame the Koch brothers for halting progress on the Ukraine bill. "I'm beginning to think [the Koch brothers] are a character almost out of Dr. Seuss in the majority leader's mind, they are the grinch who stole Christmas in his telling," Cruz said. Cruz accused Reid of "using his...
  • Pioneer Flourishes in U.S. Shale Fields Where Shell Floundered

    03/11/2014 10:15:31 AM PDT · by ckilmer · 3 replies
    Pioneer Flourishes in U.S. Shale Fields Where Shell Floundered By Joe Carroll Mar 10, 2014 7:00 AM ET Pioneer Natural Resources Co. (PXD), the top energy stock in the S&P 500 last year, is tripling drilling in shale fields as international energy explorers five times its size recoil from losses on the U.S. oil renaissance.Pioneer is expanding its fleet of drilling rigs in the northern part of Texas’ Spraberry field to 16 from five this quarter after striking reservoirs so rich that some wells are expected to pump as much as 1 million barrels of crude during their lifespans. Pioneer’s...
  • Why Independent Producers Are Vastly Outpacing Big Oil

    02/08/2014 11:56:22 AM PST · by ckilmer · 12 replies
    dailyfinance ^ | Feb 8th 2014 2:00PM | David Smith
    Why Independent Producers Are Vastly Outpacing Big Oil by David Smith, The Motley Fool Feb 8th 2014 2:00PMUpdated Feb 8th 2014 2:02PM Energy investors have effectively reached an earnings season tipping point, with the majors having told us about their fourth-quarter and full-year results and most of the independents still preparing to do so. While I obviously can't predict with absolute certainty the impending announcements from the likes of and Whiting Petroleum , they're likely to outstrip those that we've already received from ExxonMobil, Chevron , and Royal Dutch Shell .As for the weaknesses displayed by the majors during...
  • Royal Dutch Shell: hull of world's largest floating oil platform launched in South Korea

    12/03/2013 6:34:43 AM PST · by oxcart · 16 replies
    Fox News/AP ^ | 12/03/13
    <p>Royal Dutch Shell PLC says it has completed building the hull of the world's largest floating facility, which has been constructed to process natural gas off the coast of western Australia.</p> <p>Shell said Tuesday that the 488-meter (1,600 foot) hull of the structure, known as "Prelude," was floated out of the dry dock in Geoje, South Korea where it is being built.</p>
  • Brazil oil auction: Lone bid wins exploration rights

    10/22/2013 5:48:28 PM PDT · by haffast · 1 replies
    BBC ^ | 21 October 2013 Last updated at 17:01 ET | BBC
    The rights to explore Brazil's biggest oilfield have been won at an auction by a consortium led by Brazil's state-run Petrobras, backed by Total, Shell and Chinese firms. The group made the only bid in the auction, offering the minimum share of the surplus production. The Rio de Janeiro beachfront hotel, where the auction took place, was guarded by 1,100 security personnel. Earlier, striking oil workers opposed to the contest clashed with police. Eleven companies had expressed interest in the Libra oilfield, but the Spanish Repsol pulled out on Monday, leaving the five winners as the only ones to present...
  • Is Shell's Shocking Revelation Good News for Tesla?

    10/14/2013 3:11:17 PM PDT · by ckilmer · 46 replies ^ | October 13, 2013 | Tyler Crowe
    Cats and dogs. Oil and water. Name any cliche about polar opposites and they have probably been used to compare the oil industry and electric vehicles. So, it seems almost impossible that an oil company would make the claim that electric vehicles will be the predominant transportation fuel, but Royal Dutch Shell (NYSE: RDS-A ) is making that very claim. Is Shell contemplating going into a new business? Are they playing some kind of Jedi mind trick on us? Let's take a look at some of the things that Shell is saying and see if it is making a compelling...
  • Salazar Rules Blamed for Shell’s Departure

    09/27/2013 6:44:46 AM PDT · by george76 · 19 replies
    Colorado Observer. ^ | September 26, 2013 | Audrey Hudson
    A decision this week by Shell to shutter its oil shale operation in Colorado to pursue other ventures in Jordan and Canada highlights the difficulties faced by developers in the state as they wrestle with uncertain rules under the Obama administration. Royal Dutch Shell was one of the most successful companies in the state in its efforts to develop a cost-efficient technique to extract oil from shale rock. But the final act of Ken Salazar as Interior secretary earlier this year to rewrite industry rules left companies in limbo with undeterminable royalty rates, and blocked them from obtaining leases for...
  • Noble rig leaves U.S. Gulf for Brazil

    03/04/2011 11:13:03 AM PST · by thackney · 31 replies
    Fuel Fix ^ | March 4, 2011 | Brett Clanton
    Noble Corp. in January announced plans to move one of its deep-water drilling rigs out of the Gulf of Mexico amid a spill-related slowdown in activity. This week, the Swiss-based driller made good on its promise. It loaded the Noble Clyde Boudreaux, an ultra-deepwater semisubmersible, on a ship in Pascagoula, Miss., that will carry the rig 5,000 miles to Brazil, where it has a contract with Shell. That new contract, starting in April, will last for a year and is $290,000 per day less than the previous Gulf lease, Noble said. Noble, Diamond Offshore and other offshore drilling contractors have...
  • IDF fires warning shots into Syria after shell hits Golan

    11/11/2012 4:36:39 AM PST · by RoosterRedux · 13 replies ^ | 11/11/2012
    The IDF fired warning shots into Syrian territory on Sunday after a mortar shell fired from Syria hit an IDF outpost in the Golan Heights. The incident follows a similar spillover from Syria on Thursday, when a shell from Syria exploded in Moshav Alonei Habashan. "Further attacks [from Syria] will illicit a vigorous response," the IDF Spokesman's Office stated. The military also sent a letter to the United Nations warning Syrian forces to be careful in avoiding fire into the Golan. Just hours earlier, Defense Minister Ehud Barak threatened that Israel would respond should stray Syrian ordnance continue to strike...
  • Man At Center Of Airplane Hoax Arrested At DFW Airport

    09/07/2012 5:32:02 AM PDT · by DFG · 6 replies
    DFW CBS Local ^ | 09/07/12 | Jason Allen
    The man at the center of a hoax that forced a Dallas bound plane to return to Philadelphia Thursday, was arrested when he finally made it to Dallas hours later. Christopher Shell was being held on a warrant from an area agency according to DFW Police. Online court records in Collin County show he failed to show up for a court appearance in January on a misdemeanor charge for marijuana possession in McKinney.
  • Heavy ice could delay start of Shell Alaska's Arctic drilling

    05/27/2012 8:44:27 AM PDT · by King_Corey · 15 replies
    Los Angeles Times via Miami Herald ^ | Saturday, 05.26.12 | KIM MURPHY
    The heaviest polar ice in more than a decade could postpone the start of offshore oil drilling in the Arctic Ocean until the beginning of August, a delay of up to two weeks, Shell Alaska officials said. Unveiling a newly refurbished ice-class rig that is poised to begin drilling two exploratory wells this summer in the Beaufort Sea, Shell executives said Friday that the unusually robust sea ice would further narrow what already is a tight window for operations. The company's $4-billion program is designed to measure the extent of what could be the United States' most important new inventory...
  • CA GOP decries Legislature passing 'shell' bills

    03/27/2012 1:26:47 PM PDT · by CounterCounterCulture · 9 replies
    San Jose Mercury News ^ | 22 March 2012 | Don Thompson
    SACRAMENTO, Calif.—Republican state lawmakers stood in united but futile opposition Thursday to the practice of approving empty bills that contain no real legislation but will be amended later to include budget legislation. Democrats, who control both houses, each approved several so-called "shell" bills—the Senate 40 of them, and the Assembly 38. The bills contain no actual budget details but will be amended later to include specific language needed to enact the budget for the fiscal year that begins July 1. Passing the bills now makes it quicker and easier to approve a state spending plan before the constitutional deadline in...
  • Former Shell Oil President: We Won’t Have Enough to Fill Gas Tanks No Matter the Price

    03/13/2012 10:42:03 AM PDT · by Nachum · 54 replies
    CNS News ^ | 3/13/12 | Melanie Hunter
    Former Shell Oil President John Hofmeister predicted that the U.S. won’t have enough oil to fill gas tanks whatever the price and that high gas prices could lead to another recession, because people won’t be able to buy things. The host of “Washington Journal” asked Hofmeister if he agreed with the head of ExxonMobil, Rex Tillerson, that the U.S. won’t see $5 a gallon gas and that the rhetoric over Iran is responsible for driving up gas prices temporarily. “There’s a lot of views out there, and I’ve been articulating a $5 price.
  • Shell losing $1 billion a year on U.S. Gulf drilling delays

    02/02/2012 8:07:08 PM PST · by Nachum · 11 replies
    Fuel Fix ^ | 2/2/12 | bloomberg
    Royal Dutch Shell Plc, Europe’s largest oil company, is losing about $1 billion a year from drilling delays in the Gulf of Mexico since the 2010 Macondo disaster. Shell’s production in the region will be curbed by about 50,000 barrels of oil equivalent this year, similar to 2011, Chief Financial Officer Simon Henry said. The company expects to return to planned operations off the Gulf coast by 2014. “The cash flow implications are a billion dollars or more per year relative to where we want to be,” Henry said in London today. “We are catching up.” The company, which in...
  • Groups appeal Shell air permit granted by EPA (for offshore drilling in Arctic waters)

    10/24/2011 6:47:25 PM PDT · by NormsRevenge · 10 replies ^ | 10/24/11 | AP
    Anchorage, Alaska (AP) -- Alaska Native and environmental groups are challenging a federal air permit granted to Royal Dutch Shell PLC for offshore drilling in Arctic waters. Shell hopes to drill exploratory wells next summer off Alaska's northern coasts. The Environmental Protection Agency issued an air permit Friday for a Shell drill ship called the Kulluk.
  • Cat Learns to Play the Shell Game (Video)

    10/13/2011 11:56:06 AM PDT · by dickmc · 14 replies
    break ^ | June, 2011 | unknown
    Cat actually plays the shell game. Worth watching. Video was on one of the TV channels this morning. Video is at
  • Oil firms bet on survival of Syria's Assad

    09/01/2011 8:26:46 AM PDT · by Pan_Yan · 5 replies
    Reuters ^ | Thu Sep 1, 2011 7:52am EDT | Jessica Donati and Dmitry Zhdannikov
    LONDON, Sept 1 (Reuters) - Oil companies in Europe are betting on the survival of President Bashar al-Assad in Syria, in sharp contrast to their support for Libya's opposition six months ago, even while the European Union is expected to soon slap oil sanctions on Damascus. ... Royal Dutch/Shell (RDSa.L) is expected to load its Neverland Star tanker with crude oil cargo in the port of Banias over the weekend. The tanker was in Alexandria in Egypt on Thursday, just a day away from the Syrian port. The company operates a joint venture with Syria's state oil company and a...
  • Mid-air blast tank shell winner of Defense Prize (Israel)

    07/10/2011 9:13:04 PM PDT · by sukhoi-30mki · 10 replies · 1+ views
    The Jerusalem Post ^ | 07/06/2011 | YAAKOV KATZ
    Mid-air blast tank shell winner of Defense Prize By YAAKOV KATZ 07/06/2011 21:29 Kalanit can explode midair over hiding terrorists and can breach concrete walls; shell has been successful in hitting Gaza terror cells. What makes the Kalanit unique is the crew’s ability to choose between two different modes for the way it wants the shell to detonate. It can be shot just above anti-tank cells – which usually cannot be effectively targeted by standard tank shells – then stops in midair and explodes into six different charges scattering thousands of deadly fragments. The shell can also be used against...
  • Shell Links Crude Oil Theft to International Syndicate

    07/05/2011 3:44:55 PM PDT · by chemicalman · 4 replies
    TMCNews ^ | Jul 05, 2011 | COMTEX
    Shell Petroleum development Company of Nigeria (SPDC) has linked the rampant cases of crude oil theft in the Niger Delta to international criminal network, and called on all stakeholders to take urgent steps to check the dangerous trend.According to SPDC, sabotage and crude oil theft was the cause of 22,310 barrels spilled from its facilities in 112 incidents in 2010, representing an average of about one spill every three days. However, 5,270 barrels was due to 32 operational problems, arising from equipment failures recorded during the period. Chairman of Shell Companies in Nigeria and Managing Director of SPDC, Mr. Mutiu...
  • EPA sets Shell Alaska emissions task

    07/03/2011 1:32:16 PM PDT · by Hojczyk · 16 replies
    Upstream ^ | July 1,2011 | EPA sets Shell Alaska emissions task
    The green regime has slashed the amount of air pollutants allowable from the supermajor at its Beaufort and Chukchi plays by 50% from the original set of permits. Anglo-Dutch outfit must obtain permits from US authorities as it proposed drilling activities off Alaska “would emit more than 250 tonnes of air pollutants a year”, the EPA wrote in a statement today. “The revised permits have reduced emissions of most key air pollutants by more than 50% from the levels allowed in the 2010 permits. “These reductions are largely due to the new NO2 standard that went into effect after the...
  • We're gonna need a bigger boat: Shell builds floating oil refinery 6x aircraft carrier

    05/20/2011 3:29:29 PM PDT · by Teflonic · 31 replies
    The Daily Mail ^ | 5/20/11 | Daily Mail Reporter
    It will be the largest floating object in the world - the length of four football pitches and weighing as much as six aircraft carriers. Shell today announced plans to build a giant floating gas refinery, named the Prelude, in a project that will cost $10billion. The ship will allow gas extracted by drilling rigs and platforms far out at sea to be transferred to the ship for processing- removing the need for pipe lines to a refinery on land. It means the company will be able to drill for gas in new fields hundreds of miles from the nearest...
  • Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans

    04/25/2011 6:28:52 AM PDT · by thackney · 77 replies
    Fox News ^ | April 25, 2011 | Dan Springer
    Shell Oil Company has announced it must scrap efforts to drill for oil this summer in the Arctic Ocean off the northern coast of Alaska. The decision comes following a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits. The move has angered some in Congress and triggered a flurry of legislation aimed at stripping the EPA of its oil drilling oversight. Shell has spent five years and nearly $4 billion dollars on plans to explore for oil in the Beaufort and Chukchi Seas. The leases alone cost $2.2 billion. Shell Vice President Pete Slaiby says obtaining...
  • Study Lists Alaska Arctic OCS Development's Potential Benefits [54,700 Jobs/Yr, $145B Payroll]

    02/24/2011 9:54:04 PM PST · by fight_truth_decay · 4 replies
    Oil &Gas Journal ^ | Feb 24, 2011 | Nick Snow
    Development of resources in the Chukchi and Beaufort seas off Alaska’s Arctic coast would create an average 54,700 jobs/year nationwide with a $145 billion total payroll and generate $193 billion in federal, state, and local revenue over 50 years, according to a study by Northern Economics Inc., Alaska’s largest private economic consulting firm, and the University of Alaska at Anchorage’s Institute of Social and Economic Research. Commercial production of Arctic Alaska offshore oil and gas resources would generate government revenue estimated at $97 billion (in 2010 dollars) in the Beaufort Sea and $96 billion in the Chukchi Sea over 50...
  • Ex-Shell Head Says Energy Policies Choke Economy

    02/12/2011 5:26:28 AM PST · by thackney · 20 replies
    Houston Chronicle via Rig Zone ^ | February 11, 2011 | Heather Caygle
    Former Shell Oil Co. president John Hofmeister said that the Obama administration's energy policies and regulations are strangling the U.S. economy and preventing the country from decreasing its dependence on foreign oil. Testifying before the House Energy and Power Subcommittee, the Houston businessman blamed the administration for restricting offshore drilling after the oil spill in the Gulf of Mexico last year. "I believe that the decline" in drilling in the Gulf of Mexico "will be sharper and deeper than what anyone is currently projecting," he told lawmakers. "We have made a horrible error as a country." Hofmeister was one of...
  • Shell scraps bid to drill off Alaska’s coast this year

    02/03/2011 8:15:21 PM PST · by Nachum · 9 replies · 2+ views
    The Hill ^ | 2/3/11 | Ben Geman
    Shell Oil announced Thursday that it's abandoning efforts to drill in icy waters off Alaska’s northern coast this year, a decision that prompted Alaska's senators to accuse the Obama administration of blocking access to large domestic supplies. The company’s plans to drill in Arctic waters have long been under attack from environmental groups. The Interior Department, after the BP oil spill, halted the oil giant’s plan to drill in 2010. Now the company – which is awaiting air quality permits and Interior’s permission – is throwing in the towel on 2011 too. The Houston Chronicle reports:
  • Ex Shell president sees $5 gas in 2012

    12/27/2010 1:40:03 PM PST · by Nachum · 99 replies · 3+ views
    CNN/Money ^ | 12/27/10 | Laurie Segall
    New York - The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012. In an interview with Platt's Energy Week television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases. "I'm predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices," he said.
  • Total, Shell, Statoil, Eni Pull Out of Iran

    10/02/2010 9:44:30 AM PDT · by epithermal · 9 replies
    Rigzone ^ | September 30, 2010 | Dow Jones Newswires
    Energy giants Total, Shell, Statoil and Eni have pledged to end their investments in Iran. The pledges fall in line with tough new energy and financial measures the U.S. Congress imposed on Iran in June, which came atop U.N. Security Council sanctions imposed earlier the same month to curb Iran's nuclear ambitions.
  • 4 firms stop investing in Iran

    09/30/2010 7:49:09 PM PDT · by nuconvert · 1 replies
    WASHINGTON - UNDER threat of US sanctions, European oil firms Total, Shell, Statoil and Eni have pledged to stop investing in Iran in what amounts to a 'significant setback' to Teheran, a US official said on Thursday. The pledges fall in line with new energy and financial measures against Iran that US President Barack Obama signed into law in July in the wake of UN Security Council sanctions imposed in June to curb Iran's nuclear ambitions. 'We have received commitments from four international energy firms to terminate their investments and avoid any new activity in Iran's energy sector,' Deputy Secretary...
  • Pension Shell Games Threaten Market (Papered over irresponsible promises? Investors will flee)

    09/24/2010 9:37:43 PM PDT · by Libloather · 2 replies
    Link only - Pension Shell Games Threaten Market
  • Shell to court: We're ready to drill Arctic Ocean (ball in 9th U.S. Circuit Court of Appeals hands)

    05/06/2010 4:09:39 PM PDT · by NormsRevenge · 6 replies · 258+ views
    AP on Yahoo ^ | 5/6/10 | William Mccall - ap
    PORTLAND, Ore. (AP) -- Shell Oil is ready to drill in the Arctic Ocean this summer and asked a federal appeals court Thursday to rule quickly on a challenge by environmentalists concerned about the risk of a major spill after the Gulf of Mexico disaster. Kathleen Sullivan, an attorney for Shell, said the company has spent at least $3.5 billion on Alaska operations in the past few years as it prepares for exploratory drilling set for July in the Beaufort and Chukchi seas. "Shell has waited years to recover its investment," Sullivan told a three-judge panel of the 9th U.S....
  • The Elephant In The Corner <Vanity>

    03/19/2010 1:36:12 PM PDT · by Gargantua · 9 replies · 319+ views
    FreeRepublic ^ | Friday, March 19, 2010 | Gargantua
    President O’Bunga is being allowed to use a sleight-of-hand, and none of his detractors or opponents are calling him on it. I’m not referring to his touting the marvelous benefits of his Health Care reforms while glossing over the real-cash implications. Neither am I referring to the smoke-and-mirrors trash given to the CBO for them to use in determining the years-out financial implications. The president (if indeed he legally holds that office, which, with a British-Kenyan father it is impossible to do) claims, employing Josef Goebbels’ “kernel of truth” propaganda gambit, that the majority of Americans want many of the...
  • Royal Dutch Shell stops gasoline sales to Iran - trade

    03/10/2010 6:50:04 PM PST · by odds · 4 replies · 257+ views
    Reuters - India ^ | Thu Mar 11, 2010 | Luke Pachymuthu
    DUBAI (Reuters) - Oil major Royal Dutch Shell has stopped gasoline sales to Iran, oil traders said on Wednesday, the latest addition to a growing list of firms that have halted supplies under threat of future U.S. sanctions. The Anglo-Dutch oil firm will join the likes of BP, Reliance Industries, and independent Swiss trader Glencore, among suppliers that have either stopped fuel sales to Iran or have made a decision not to enter into new trading agreements with the world's fifth largest oil exporter. "Shell has stopped selling gasoline to Iran, we have not seen them there for a while...
  • Shell stops selling gasoline to Iran

    03/10/2010 1:33:43 PM PST · by jhpigott · 29 replies · 1,604+ views
    Royal Dutch Shell Plc said Wednesday it has stopped selling gasoline to Iran, the latest company to cease business with a country that is increasingly targeted by US-encouraged sanctions. "We do not currently sell any gasoline to Iran," said Rayiner Winzenried, a Shell spokesman in The Hague. He declined to say when the sales to Tehran were halted or to relate the move to the call for tighter sanctions. (AP)
  • Shell Sees No 'Quick Recovery' As Energy Company Cuts 5,000 Jobs

    10/29/2009 3:02:51 PM PDT · by blam · 1 replies · 320+ views
    The Telegraph (UK) ^ | 10-29-2009 | Rowena Mason
    Shell Sees No 'Quick Recovery' As Energy Company Cuts 5,000 JobsRoyal Dutch Shell is “not expecting a quick recovery” after shedding 5,000 jobs in a global restructuring and seeing profits drop 73pc on lower oil and gas prices. By Rowena Mason Published: 7:59AM GMT 29 Oct 2009 Europe’s biggest energy company made $2.99bn in profits on a cost of supplies basis – a measure that strips out the effect of changing inventories – slightly beating analyst expectations. Revenue fell 43pc to $76bn. Peter Voser, the chief executive who took over in July, said 5pc of the oil giant’s staff would...
  • Congress Apologizes To Oil Company Execs (NOT!)

    07/30/2009 4:08:15 PM PDT · by jay1949 · 2 replies · 223+ views
    Annuit Coeptis ^ | July 30, 2009 | Jay Henderson
    What a difference a year makes. In 2008, we were treated night after night to video clips of the obscene spectacle of Congresspersons berating oil company executives because Big Oil was making a profit. There was talk of Excess Profits Taxes, and endless posturing punctuated with faux indignity. Okay, fast forward to now, and try to pick out the phony headline . . .