Kazakhstan and a consortium of Western oil companies developing the Kashagan oilfield signed the final agreement on the future of the project on Friday after more than a year of tense negotiations.
Posts from ‘October, 2008’
Details of the final Kashagan agreement
Shell and Exxon join the profits bonanza
Despite the better than expected figures, Royal Dutch Shell shares fell more than 3%, in part because of lower than expected production.
Shell’s $10.6bn profits fuel windfall tax calls
Royal Dutch Shell's third-quarter profits ballooned by 71 per cent to $10.9bn (£6.7bn), the company said yesterday, reigniting outrage that energy companies are cashing in while inflated oil prices punish consumers.
Whatever happens, the world still needs what Shell provides
Along with the rest of the market, Shells share price has nosedived recently. Nevertheless, investors scouting for value in beaten-up blue chips could do worse than take a second look at this FTSE stalwart.
Shell Wagers That Delays Will Pay Off
Practically speaking, therefore, it is easier for Shell to ease off in Canada during a period of uncertainty than in many other countries.
Exxon, Shell Earnings Jump
Even as Exxon Mobil Corp. and Royal Dutch Shell PLC reported another round of enormous profits Thursday, Shell said it will postpone the expansion of a big energy project, in a sign that plunging crude prices and high costs are raising concerns among executives of the world's largest oil companies.
UPDATE 3-Shell to delay oil sands expansion project
The move is the latest in a line of project deferrals among companies active in squeezing crude from Alberta's bitumen-soaked soil in a trend that is dimming Canada's energy production outlook.
Higher costs force Shell to delay investments
A final decision on investing in the second phase of Athabasca in Alberta was due next year, but Shell chief executive Jeroen van der Veer said yesterday that approval had been delayed indefinitely. "We wait for costs to cool down before any new investment decisions," he said.
Royal Dutch Shell
Now, under Jeroen van der Veer, the stickler for asset efficiency installed in 2004, Royal Dutch Shell has become a metronomic earnings machine, beating consensus forecasts for nine straight quarters.
Shell to hold back on oil sands project
Royal Dutch Shell has delayed a planned investment in Canada's oil sands, in the latest sign of companies adjusting their plans to reflect the global economic downturn and the fall in the price of oil.
Shell delays Athabasca expansion decision
Royal Dutch Shell Plc (RDSa.L: Quote) said on Thursday that it would delay its investment decision on a second expansion of its Athabasca oil sands project, the latest deferral sparked by falling energy prices and a global financial crisis.
Exxon Posts $14.83 Billion Profit
Exxon Mobil Corp. reported a 58% increase in third-quarter net income, smashing its own record for quarterly profits, amid a $1.62 billion gain and high oil prices.
Green Ink: Peak Oil and Hunting Elephants
THE WALL STREET JOURNAL
October 30, 2008, 8:00 am
Posted by Keith Johnson
Peak oil will come sooner than expected and is a bigger threat to the U.K. than terrorism, an industry group concludes, in The Guardian. Big Oil is certainly having trouble tapping big new fields. Chevron has spent seven years and $3 billion on a Brazilian field that will supply three days worth of global oil consumption, the WSJ reports (sub reqd.). But thats about all Western majors can get these days: If youre only going after elephants, youll never hunt, says a top Chevron executive. As gasoline prices fall, are American drivers returning to their old habits? Gasoline demand is still down from a year agobut not as much in recent weeks, reports the NYT. Volatile energy prices are a headache forsavvy companies burned by hedging, so what are poor consumers supposed to do this winter? in the WaPo. Sen. Barack Obamas half-hour informercial reiterated that energy would be a top priority in his administration, in the WaPo. Make that energy independence, with a special emphasis on reducing demand, Grist notes. The credit crunch and big losses could force T. Boone Pickens to delay construction of the worlds biggest wind farm, in Earth2Tech. Chinas GreenGen project is now the worlds biggest clean coal demonstration facility, notes Scientific American, but the project faces a looming coal shortage in China and concerns about cost. Eastern Europe is jumping on the nuclear power bandwagon, both as a way to cut emissions and also to diversify energy supplies away from Russian natural gas, in the IHT. The U.K.s Royal Society is seriously looking at geo-engineering solutions to battle climate change, The Guardian reports. Finally, check your cowsmethane emissions are on the rise suddenly, and scientists dont know why, in Reuters. |
Shell results highlight challenges facing Voser
Royal Dutch Shell, which on Wednesday named Peter Voser, its finance director, to be its next chief executive, on Thursday showed some of the challenges that will face him as it reported third-quarter earnings that were less buoyant than those from rival BP earlier this week.
Shell Profit Rises 22%, Delays Oil Sands Decision (Update1)
Royal Dutch Shell Plc, Europe's biggest oil company, reported a 22 percent increase in third- quarter profit and said it will delay an investment decision on its Athabasca oil-sands project in Alberta because of costs.
Higher Oil Prices Lift Shell’s Net
Shell Class B shares closed at £16.70 ($27.70) Wednesday, a drop of almost a quarter from their peak in mid-May as concerns about the global economy have driven down the oil price.