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Posts under ‘China’

Royal Dutch Shell in Deal for China Shale Gas

March 21, 2012 By WAYNE MA BEIJING—Royal Dutch Shell RDSB -1.33% PLC has signed the first-ever production-sharing contract to explore, develop and produce shale gas in China, a move that fits in with China’s overall strategy to bring technical and operational know-how to the development of its untapped reserves of the unconventional fuel. Although Shell didn’t [...]

Shell steps up gas production, despite North American hurdles

Shawn Mccarthy — GLOBAL ENERGY REPORTER, OTTAWA— From Monday’s Globe and Mail 19 March 2012 Royal Dutch Shell PLC is doubling-down on its natural gas bet, despite a depressed North American market that has seen many producers shut in production. The international oil company is the world’s premier gas company, producing and shipping more of [...]

An earful from Peter Voser

I caught up with Peter Voser, the chief executive of Royal Dutch Shell, this week at the IHS Cera annual energy conference in Houston, and he gave me an earful… March 9, 2012, 4:00 pm For a Shell Executive, Much Head-Scratching By CLIFFORD KRAUSS Europe is generally considered greener than the United States, but its [...]

Natural Gas Fracking Boom Turns Sour

Shell, which by energy output is now approaching 60% gas, has already backtracked and downsized its shale gas and oil programs… By: Andrew_McKillop Mar 09, 2012 – 09:51 AM Exxon, which by energy output is now 49% gas,  failed in its first two efforts to crack gas-rich shale fields in Poland… Shell, which by energy [...]

PTT Exploration Offers $1.7 Billion for Cove, Beating Shell

PTT Exploration offered 220 pence for each Cove share, 13 percent more than Shell’s proposal, according to a statement today. Cove surged 21 percent to 235 pence in London trading, indicating investors are betting on further bids.

Shell Bid Starts Race for African Gas Fields Bigger Than Norway’s: Energy

By Eduard Gismatullin and Fred Pals – Feb 23, 2012 9:45 AM GMT Royal Dutch Shell Plc (RDSA)’s $1.6 billion bid for Cove Energy Plc (COV) starts a race to develop natural-gas fields off Mozambique’s Indian Ocean coast that may hold more than Norway’s entire reserves. Winning Cove would give Shell an 8.5 percent stake [...]

Shell pledges to spend, spend, spend – but gamble leaves City cold

The Times: 3 February 2012 Tim Webb Energy Editor Ambitious plans to boost growth will cost too much and knock Shell off its top spot, the City warned yesterday. Unveiling disappointing results, the Anglo-Dutch oil group further unnerved investors when it said it planned to spend even more heavily on new oil and gas projects. [...]

Oil price could fall to $70 in 2012 amid volatility, Shell warns

Oil prices could fall to $70 a barrel during 2012, from current levels above $110, as high volatility in the economy and energy markets becomes “a fact of life”, Royal Dutch Shell executives said. By Emily Gosden: 3 February 2012 The oil giant unveiled its 2011 results on Thursday, with a 54pc jump in full-year [...]

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 accused of ‘moral bankruptcy’

Terry Macalister guardian.co.uk, Thursday 2 February 2012 17.44 GMT Shell has been accused of “moral bankruptcy” by unions after unveiling a 54% rise in full-year profits less than a month after shutting its final salary pension scheme to new employees in Britain. The oil company reported global annual earnings of $28.6bn (£18bn) – more than [...]

Oil industry sees China winning, West losing from Iran sanctions

Peter Voser, chief executive at Royal Dutch Shell, said his company might take some time before suspending purchases… By Dmitry Zhdannikov DAVOS, Switzerland | Fri Jan 27, 2012 6:33am EST (Reuters) – As the European Union prepares to ban Iranian oil and the United States turns the screw on payments, oil executives and policymakers say [...]

Shell-PetroChina gas project hits record output

Jan. 11, 2012, 11:34 p.m. EST By Wayne Ma BEIJING -(MarketWatch)- The Changbei natural gas project owned by PetroChina Co. PTR +0.27% and Royal Dutch Shell PLC in northern China produced a record 3.5 billion cubic meters in 2011, the official Xinhua news agency reported late Wednesday. The facility’s gas output was up slightly from [...]

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 [...]

Hunt for Gas Hits Fragile Soil, and South Africans Fear Risks

In July, the Advertising Standards Authority of South Africa, an independent agency that sets guidelines for media companies, ruled that several of Shell’s advertised claims — including one that said fracking had never led to groundwater contamination — were misleading or unsubstantiated and should be withdrawn. Chris Hayward, a South African farmer, says, “If our [...]

Chevron, Conoco Entrapped in Post-BP Crackdown on Oil Slicks

By Joe Carroll, Juan Pablo Spinetto and Edward Klump – Dec 23, 2011 10:15 AM GMT Brazil’s threatened indictment of Chevron Corp. (CVX) and Transocean Ltd. (RIG) executives after offshore oil leaks shows that regulators from the North Sea to the Indian Ocean are stepping up scrutiny after BP Plc’s 2010 disaster. Brazilian authorities have [...]