Articles Tagged "shell"

Giant Exxon Discovery Could Change Deepwater Gulf of Mexico Outlook

Oil companies are hoping this latest major find will provide further justification for speeding up the permit issuing process for deepwater drilling in the Gulf of Mexico.

China and Shell to Explore Canadian Oil Sands

As China demonstrates its political clout at the G20 summit in Seoul, the country continues to make headlines in economic and energy news as the China National Petroleum Company (CNPC) has made an agreement with Shell to develop oil sands. CNPC, the parent of PetroChina, reported that its president, Jiang Jiemin and Royal Dutch Shell Plc (NYSE:RDS.B)CEO Peter Voser signed a memorandum of agreement in Beijing on "integrated co-operation" of oil and gas projects in Canada and coal bed methane development in China.

China & Crude: Battling New Frontiers

Flagging of its interest in the black gold this week, China National Oil Corporation secured its place in Iraq. Together with BP, it signed the first big oil deal. Why the sudden interest in oil?

Nigeria’s crude oil exports faced fresh threat

Nigeria’s crude oil exports faced a fresh threat yesterday as a fire incident on the Shell-operated Bomu manifold has jeopardised the supply of over 170,000 barrels per day of crude oil to the Bonny Oil Terminal. For full story, click here

430 million barrels of crude-oil lost in NNPC, Shell JV deal

Owing to inefficiencies, funding constraints and shut-in of oil wells due to crisis in the Niger Delta, approximately 430 million barrels of crude oil have been lost by Nigeria in the NNPC, Shell Joint Venture deal. Shell’s African Executive Vice President, Ms. Ann Pickard, said: The inefficiencies in the sector that are blocking Nigeria from [...]

Shell’s vulnerability to falling oil prices

Shell’s vulnerability to falling oil prices due to the high-cost nature of Canadian-tar-sands oil extraction was amply demonstrated late last year when the company deferred investment into the next stage of its vast Athabasca Oil Sands Project (AOSP) in Alberta. For full story, click here

Oil Price Drops on Job Losses

The United States government statement that U.S. employers had slashed over a half million jobs in January, the highest yet in 35 years, lead to crude oil prices dropping just below $41 a barrel, way below the high of $147 a barrel last summer. There is a link between layoffs and the demand on oil, say analysts, as those laid off see no need for the daily commute, and buy less of petroleum products like toys and raincoats.