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Gulf of Mexico

Shell Celebrates Innovation: Pumps More Oil to the Detriment of Our Planet

Aug 14th, 2024
by John Donovan.
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…let’s give a standing ovation to Shell for its unrelenting dedication to Earth’s destruction in the name of progress and shareholder value. Keep pumping Shell, the apocalypse isn’t going to fuel itself.

Posted by John Donovan: 14 Aug 2024

Shell, the pinnacle of environmental stewardship (not), has proudly announced its latest endeavour in the Gulf of Mexico. According to Shell, they’ve given the green light to inject water into the Vito field to suck out even more precious black gold. Ah, how heartwarming — pumping fossil fuels, the ultimate sin stock, from beneath the sea floor.

In a statement dripping with corporate charm, Shell elucidates how this waterflood project, slated for 2027, will magnanimously boost their recoverable resource volume by a staggering 60 million barrels of oil equivalent. Bravo, Shell! Truly a masterpiece of prioritizing profits over planet. They even classify their “resources” with such love — 2P, 2C, and absolutely zero Fs given about sustainability. read more

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Shell’s Seafaring Carnival of Fossil Fools: A Masterclass in Eco-Friendly Hypocrisy

May 3rd, 2024
by John Donovan.
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Posted by John Donovan: 3 May 2024

In a stunning display of eco-friendly acrobatics, Shell and its cohorts are ramping up offshore drilling in the Gulf of Mexico, reassuring us that it’s all for the noble cause of emitting slightly less greenhouse gases. Apparently, drilling in the ocean is like a diet version of environmental destruction.

The pièce de résistance? A colossal floating platform named Appomattox, proudly owned by Shell, bobbing about 80 miles off Louisiana’s coast like a monument to human hubris. It’s a real-life version of “Waterworld,” minus Kevin Costner’s rugged charm. read more

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Shell places U.S. Gulf of Mexico assets up for sale -sources

Jul 21st, 2022
by John Donovan.
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REUTERS

Shell places U.S. Gulf of Mexico assets up for sale -sources

Reuters: David French and Ron Bousso: Publishing date: Jul 20, 2022 

NEW YORK/LONDON — Shell is exploring a sale of its stakes in two U.S. Gulf of Mexico oil and gas developments which could raise as much as $1.5 billion for the energy major, people familiar with the matter said on Wednesday.

Potential divestments of some aging assets would allow the company to focus on newer and larger fields around the world, including its giant Whale development in the Gulf which is expected to start production in 2024, the sources said. read more

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Shell reverses billions in write-offs as oil prices remain high

Jul 8th, 2022
by John Donovan.
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yahoo!finance

Shell reverses billions in write-offs as oil prices remain high

August Graham: ·

Oil giant Shell is to reverse previous write-offs of up to £3.8 billion this quarter after energy prices soared.

The company said it expects to reverse post-tax impairments of between 3.5 billion dollars (£2.9 billion) and 4.5 billion dollars (£3.8 billion).

It came as the business revised what it thinks it will be paid for its oil and gas over the coming years.

It told shareholders on Thursday: “In the second quarter 2022, Shell has revised its mid- and long-term oil and gas commodity prices, reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals.

“This resulted in a review of Shell’s upstream and integrated gas previously impaired assets.”

Shell also said it will produce more gas during the second quarter of the year than previously thought amid the global energy crisis.

The business told investors that it expects to extract between 930,000 and 980,000 barrels of oil equivalent per day from its integrated gas operations.

It is an upgrade from its previous estimate of between 910,000 and 960,000, which Shell released in early May.

It also upgraded production from its upstream operations. They had previously been expected to fall from the levels seen in the first quarter due to maintenance in the Gulf of Mexico. read more

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Safety consultant goes viral for leaving Shell after a decade, says ‘core business’ is dangerous

May 25th, 2022
by John Donovan.
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CNBC

Safety consultant goes viral for leaving Shell after a decade, says ‘core business’ is dangerous

Catherine Clifford: @IN/CATCLIFFORD/@CATCLIFFORD: PUBLISHED TUE, MAY 24 20224:30 PM EDT

EY POINTS
  • At 8:27 a.m. on Monday morning Caroline Dennett emailed 1,400 executives at the oil and gas conglomerate, Shell, to announce her resignation after 11 years doing safety consulting for the company through her firm, .
  • Shell’s internal safety program is dubbed “Goal Zero” and its aim is to have “no harm and no leaks,” Dennett said. “The Goal Zero is honorable, but they don’t equate that to the harms that are being done on a massive scale,” she told CNBC.

At 8:27 a.m. on Monday morning, May 23, Caroline Dennett emailed 1,400 executives at the oil and gas conglomerate, Shell, to announce her resignation after 11 years working as a safety consultant.

Dennett, who is based near London, asked executives and management at Shell “to look in the mirror and ask themselves if they really believe their vision for more oil and gas extraction secures a safe future for humanity.” read more

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Was Shell’s response to Cambo reasonable?

Dec 18th, 2021
by John Donovan.
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Was Shell’s response to Cambo reasonable?

SOME THOUGHTS FROM A LONG-TERM CONTRIBUTOR TO THIS WEBSITE, A RETIRED SENIOR SHELL OFFICIAL, BILL CAMPBELL

Given that US and China dominate the world’s CO2 emissions you have to ask the question was the Shell response to Cambo reasonable?

UK with its total CO2 emissions just under 3% of the World with the oil and gas sector in the UK contributing circa 25% of UK emissions, but with transport and electricity generation accounting for just over 52%, it makes you wonder since the UK may have to import more oil in the near to medium future (increasing transport emissions) in so doing.  read more

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Shell adds another deep-water discovery in the Perdido Corridor of the U.S. Gulf of Mexico

Dec 9th, 2021
by John Donovan.
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Shell adds another deep-water discovery in the Perdido Corridor of the U.S. Gulf of Mexico

CISION: Wed, December 8, 2021, 1:30 PM

HOUSTON, Dec. 8, 2021 /PRNewswire/ — Shell Offshore Inc. (“Shell”), a subsidiary of Royal Dutch Shell plc, today announced a material discovery at the Blacktip North prospect in the U.S. Gulf of Mexico. The Blacktip North well encountered approximately 300 feet net oil pay at multiple levels. Evaluation is ongoing to further define development options. read more

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Shell Announces More Than $5 million in Support for Hurricane Ida Relief Efforts

Sep 11th, 2021
by John Donovan.
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PRNewswire

Shell Announces More Than $5 million in Support for Hurricane Ida Relief Efforts

·

HOUSTON, Sept. 10, 2021 /PRNewswire/ — In the aftermath of Hurricane Ida, Shell Oil Company announced today it will contribute more than $5 million in combined community and employee relief and recovery initiatives.

“Shell has been operating in the parishes of Louisiana’s Bayou and River Regions for nearly 100 years and New Orleans has been our Gulf of Mexico business hub for decades. Our people and our company have a long history of stepping up when our neighbors need us most. This is one of those times,” said Shell U.S. President, Gretchen Watkins. “We were there when Hurricane Katrina devastated New Orleans and surrounding Parishes and were one of the first to return. Today, the need for relief and recovery support is once again massive in scale and we are proud to work with local agencies to help provide the services and supplies to our communities most in need.” read more

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Shell considers mandatory covid vaccination and firing staff who refuse 

Sep 8th, 2021
by John Donovan.
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Shell considers mandatory covid vaccination and firing staff who refuse

“For staff who refuse to comply with a vaccine mandate we would make all reasonable efforts to avoid terminating their employment but will be faced with no alternative but to do so.”

RELATED FT, REUTERS, TELEGRAPH AND WALL STREET JOURNAL ARTICLES BELOW ALL MENTION THE LEAKED INFORMATION THAT JOHN DONOVAN SUPPLIED TO EACH OF THEM

By John Donovan

I am in possession of Shell international comms including a 6 page “Note for discussion” sponsored by Shell Executive Committee member Ronan Cassidy, Chief HR and Corporate Officer at Royal Dutch Shell. read more

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Over 80% of oil output in Gulf of Mexico still offline a week after Ida

Sep 7th, 2021
by John Donovan.
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REUTERS

Over 80% of oil output in Gulf of Mexico still offline a week after Ida

By : September 6, 202110:33 PM BST NEW YORK, Sept 6 (Reuters) – More than 80% of oil production in the Gulf of Mexico remains shut in after Hurricane Ida, a U.S. regulator said on Monday, more than a week after the storm made landfall and hit critical infrastructure in the region. Royal Dutch Shell Plc (RDSa.L), the largest U.S. Gulf Coast producer, on Sunday began redeploying staff to its Enchilada and Salsa platforms. FULL ARTICLE
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Shell Invests in the Whale Development in the Gulf of Mexico

Jul 26th, 2021
by John Donovan.
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(Information from WIKIMEDIA COMMONS: The above Shell logo image is in the public domain because its copyright has expired and its author is anonymous.)

CISION PR Newswire

Shell Invests in the Whale Development in the Gulf of Mexico

NEWS PROVIDED BY Shell Offshore Inc.  Jul 26, 2021, 08:00 ET

HOUSTON, July 26, 2021 /PRNewswire/ —=&0=&Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, today announces the final investment decision (FID) for Whale, a deep-water development in the U.S. Gulf of Mexico that features a 99% replicated hull and an 80% replication of the topsides from our Vito project.

“Whale is the latest demonstration of our focus on simplification, replication and capital projects with shorter cycle times to drive greater value from our advantaged positions,” said Wael Sawan, Shell Upstream Director. “We are building on more than 40 years of deep-water expertise to deliver competitive projects that yield high-margin barrels so that we are able to meet the energy demands of today while generating the cash required to help fund the development of the energy of the future.” read more

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Shell Sells Alabama Refinery to Vertex Energy

May 26th, 2021
by John Donovan.
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Shell Sells Alabama Refinery to Vertex Energy

NEWS PROVIDED BY: Shell : May 26, 2021, 16:41 ET

HOUSTON, May 26, 2021 /PRNewswire/ — Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Company and Shell Chemical LP, subsidiaries of Royal Dutch Shell plc (Shell), have reached an agreement for the sale of the Mobile Chemical LP Refinery in Mobile, AL, to Vertex Energy Operating LLC (Vertex Energy). Vertex Energy is a U.S. owned, Texas-based speciality refiner of alternative feedstocks and marketer of high purity petroleum products. read more

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Shell announces deep-water discovery in the U.S. Gulf of Mexico

May 12th, 2021
by John Donovan.
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Shell announces deep-water discovery in the U.S. Gulf of Mexico

NEWS PROVIDED BY

Shell Offshore Inc. 

May 11, 2021, 08:00 ET

HOUSTON, May 11, 2021 /PRNewswire/ — Shell Offshore Inc. (“Shell”), a subsidiary of Royal Dutch Shell plc, today announced a significant discovery at the Leopard prospect in the deep-water U.S. Gulf of Mexico (GoM). The Leopard well encountered more than 600 feet (183 meters) net oil pay at multiple levels. Evaluation is ongoing to further define development options. read more

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Shell’s 2020 Write Downs Could Soar To $22 Billion

Dec 22nd, 2020
by John Donovan.
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Shell’s 2020 Write Downs Could Soar To $22 Billion

By Charles Kennedy – Dec 21, 2020, 3:30 PM CST

Shell warned the market on Monday that it would book up to $4.5 billion more in post-tax charges in the fourth quarter, which would take the supermajor’s combined write-downs to over $22 billion in the year in which Big Oil significantly cut the value of their oil and gas assets.

Shell expects post-tax charges of between $3.5 billion and $4.5 billion in relation to impairments, asset restructuring, and onerous contracts in the fourth quarter, the company said in its Q4 2020 update note today. The charges will include partial impairment of the Appomattox asset in the U.S. Gulf of Mexico due to subsurface updates, charges in the oil products division, including such related to the announced transformation of the refinery portfolio, as well as charges from onerous contracts in the Integrated Gas division. read more

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Shell’s warning signals pain not yet over for oil majors

Dec 22nd, 2020
by John Donovan.
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Shell’s warning signals pain not yet over for oil majors

Dec. 21, 2020 12:45 PM ETRoyal Dutch Shell plc (RDS.A)By: Carl Surran, SA News Editor17 Comments

  • Royal Dutch Shell’s (RDS.A -5.7%) update, saying it expects to write down the value of its assets by as much as $4.5B and warning of another set of poor earnings in Q4, is the first indication of another tough quarter for oil and gas producers that continue to struggle with weak demand as COVID-19 lockdowns hit economies hard.
  • Shell says its oil and gas production business should report a third straight quarterly loss while Q4 results from its trading operations – a bright spot earlier in the pandemic amid volatile oil prices – would come in “significantly lower” than in Q3.
  • The S&P energy sector (XLE -3.8%) is today’s worst market performer, and Big Oil names are getting trounced but have moved off day’s lows: XOM -2.9%, CVX -1.9%, BP -5.7%.
  • “The indicative guidance looks disappointing, particularly in the context of the strong run Shell has had in recent weeks,” RBC analyst Biraj Borkhataria says.
  • Cowen analysts maintain their Buy rating and $41 price target for Shell shares, as the reduced cash flow outlook is offset by today’s announced divestment, and as such the analysts retain their outlook that debt will hit target levels around year-end 2021 to enable buybacks in 2022.
  • Shell says the anticipated $3.5B-$4.5B writedown includes an impairment of its Appomattox deepwater oil and gas project in the Gulf of Mexico, as well as charges related to its refining operations and onerous gas contracts.
  • The latest writedown follows Shell’s $16.8B writedown in Q2 and a sharp cut in its price outlook.
    • read more

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    Shell writes down up to $4.5 billion in oil and gas assets

    Dec 21st, 2020
    by John Donovan.
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    Shell writes down up to $4.5 billion in oil and gas assets

    Royal Dutch Shell said on Monday it will write down $3.5 to $4.5 billion in the value of oil and gas assets in 2021, the latest in a string of impairments this year as it adjusts to a weaker outlook.

    In an update ahead of its fourth quarter results on February 4, Shell said the post-tax charge was due in part to impairments on its Appomattox field in the U.S. Gulf of Mexico, the closure of refineries and liquefied natural gas (LNG) contracts. read more

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