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Posts under ‘Business Week’

Shell gets injunction for Arctic drill ships

The Associated Press March 29, 2012, 7:10PM ET ANCHORAGE, Alaska A federal judge has ordered representatives of Greenpeace USA to stay a kilometer away from Shell Oil’s drilling vessels destined for Arctic Ocean waters off Alaska’s northern shores. The 29-page order signed Wednesday by Judge Sharon Gleason in Anchorage grants a preliminary injunction requested by [...]

Shell Sued in U.K. Over ’Massive’ 2008 Nigerian Oil Spills

By Erik Larson – Mar 23, 2012 5:02 PM GMT A unit of Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, was sued in Britain by 11,000 Nigerians who say their land, rivers and wetlands were spoiled by two “massive” spills in the Niger River delta in 2008. The lawsuit against Shell’s Nigerian subsidiary [...]

U.S. Gulf Fuel Rises After Texas Refinery Reports Outage

By Aaron Clark – Mar 21, 2012 8:34 PM GMT U.S. Gulf Coast gasoline strengthened after Motiva Enterprises LLC reported a power failure at its Port Arthur refinery in Texas. “Operations followed stabilize, slow down, and shutdown procedures to minimize emissions” after an electrical storm knocked out power, the company said in a filing with [...]

Shell CEO Voser’s Compensation More Than Doubles on Awards

By Fred Pals on March 15, 2012 Royal Dutch Shell Plc (RDSA) Chief Executive Officer Peter Voser’s compensation more than doubled to 11.7 million euros ($15.3 million) in 2011 from the previous year after long-term incentive bonuses and awards were vested. Voser’s total compensation included 6.5 million euros in awards that form part of Shell’s [...]

Shell Asks U.S. Supreme Court to Bar Human-Rights Suit

By Bob Van Voris Feb. 28 (Bloomberg) — Royal Dutch Shell Plc asked the U.S. Supreme Court to rule that the company can’t be sued by Nigerians seeking damages for torture and murders committed by their government in the early 1990s. The high court in Washington is considering whether companies are exempt from two statutes [...]

Shell Bids $1.6 Billion for African Oil Explorer Cove Energy

Feb. 22 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, offered to buy African explorer Cove Energy Plc for 992.4 million pounds ($1.6 billion) to gain a foothold in Mozambique. Shell is offering 195 pence for each Cove share, a 26 percent premium to the closing price of the London-based company yesterday, according [...]

Shell, UOP Among Companies Put on Blacklist by Iran, Mehr Says

By Ladane Nasseri – Feb 6, 2012 4:10 PM GMT Iranian Oil Minister Rostam Qasemi has ordered five European companies, including Royal Dutch Shell Plc, to be put on a blacklist for failing to meet their commitments in the nation’s refinery projects, Mehr reported. Shell and UOP LLC, a unit of U.S.-based Honeywell International Inc., [...]

Shell, Cosan’s Sugar Venture Will Expand Output 9% in New Season

FEBRUARY 06, 2012 By Isis Almeida Feb. 6 (Bloomberg) — Raizen, a joint venture of Royal Dutch Shell Plc and Cosan Industria & Comercio SA in Brazil, will process 9 percent more sugar cane in the season starting in April than a year earlier, commercial director Ivan Melo said. Raizen’s cane processing in the 2012-13 [...]

PetroChina Boosts Shell Ties With 20% Stake in Shale Project

February 02, 2012, 11:40 AM EST By Bloomberg News Feb. 3 (Bloomberg) — PetroChina Co., the country’s biggest energy producer, boosted ties with Royal Dutch Shell Plc after agreeing to buy a 20 percent stake in its Groundbirch shale-gas project in Canada. Shell will remain the operator of the project, Mao Zefeng, the Beijing-based senior [...]

Shell Losing $1 Billion a Year on U.S. Gulf Drilling Delays

February 02, 2012, 1:20 PM EST By Eduard Gismatullin Feb. 2 (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 [...]

Shell Seen Raising Dividend for First Time Since 2009: Energy

Shell may even go as far as paying a special dividend or buying back shares to maximize shareholder value, according to analysts at Citigroup Inc.

Sakhalin-2 News

Gazprom Expansion of Sakhalin-2 LNG Plant May Cost $7 Billion January 30, 2012, 5:20 AM EST By Jake Rudnitsky Jan. 30 (Bloomberg) — OAO Gazprom and its partners in the Sakhalin-2 project may decide on expanding their liquefied natural gas plant this year, to add supplies by 2018, said Andrey Galaev, the venture’s chief executive [...]

Oil Grab in Falkland Islands Seen Tripling U.K. Reserves: Energy

The world’s largest oil companies like Exxon Mobil Corp. and Royal Dutch Shell Plc face a dilemma: whether the potential of a virgin basin outweighs the risk of a worsening international dispute. January 25, 2012, 7:20 AM EST By Brian Swint Jan. 19 (Bloomberg) — Thirty years after Margaret Thatcher fought a 74-day war with [...]

Shell CEO Says the Potential for Shale Gas in Europe Is Limited

By John Buckley Jan. 11 (Bloomberg) — Royal Dutch Shell Plc chief Peter Voser said the potential for shale gas development in Europe is limited by the region’s regulations and its dense population. Shell expects expansion in shale and tight gas — which is locked in rock that’s difficult and expensive to break — in [...]

Shell-Exxon venture reports natural gas discovery

The Associated Press January 9, 2012, 2:45PM ET AMSTERDAM A joint venture between Shell and Exxon says it has successfully drilled a significant new onshore natural gas field in the Netherlands. Nederlandse Aardolie Maatschappij BV says in a statement the field contains 4 billion cubic meters of gas, about enough to supply 2.5 million households [...]