Posts under ‘CNNMoney.com’

With a $130 billion market cap, and billions of dollars in unknown liabilities, BP is still one big toxic mess. Why BP is not a takeover target By Cyrus Sanati: November 26, 2012: 9:35 AM ET FORTUNE — It’s one of the largest companies in the world. Could it really be a takeover target? Some [...]

(CNN) — Four Nigerian farmers and the environmental group Friends of the Earth took oil giant Shell to court Thursday in the Netherlands to demand a proper cleanup and compensation for pollution in the Niger Delta. The farmers want the Anglo-Dutch multinational to “clean up the oil pollution in their fields and fishponds” and make [...]

By Vincent Warren, Special to CNN September 27, 2012 — Updated 1834 GMT (0234 HKT) (CNN) — An argument before the Supreme Court on October 1 in Kiobel v. Royal Dutch Petroleum will have enormous significance. The case concerns the torture of Ogoni leaders in Nigeria, but at stake is the future of the law under which [...]

FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE CNN: Shell settles fraud case for $150M Oil company agrees to pay SEC for overstating reserves, also settles market abuse case in Britain. August 24, 2004 NEW YORK (CNN/Money) – Royal Dutch/Shell has agreed to pay about $150 million to settle charges by U.S. and British regulators that [...]

Shell Oil’s multibillion dollar Arctic hoax By Travis Nichols, Special to CNN August 1, 2012 — Updated 1911 GMT (0311 HKT) Editor’s note: Travis Nichols is a polar and oceans media officer with Greenpeace USA.  He collaborated with the Yes Lab and Occupy Seattle on the ArcticReady.com website and the #shellFAIL video campaign.  He is [...]

By Bob Reiss, Special to CNN July 16, 2012 — Updated 1717 GMT (0117 HKT) Editor’s note: Bob Reiss, a former reporter at the Chicago Tribune, is the author of 18 books, including the just published, “The Eskimo and the Oil Man.” He can be seen this week on CNN as part of the “Erin [...]

By Paul Vercammen and Thom Patterson, CNN July 17, 2012 — Updated 1456 GMT (2256 HKT) Barrow, Alaska (CNN) — Edward Itta, a powerful Eskimo leader, looks out at the icy Arctic Ocean stretched out under a fuzzy orange sun that refuses to set this time of year. “This is our garden,” said the former [...]

By Steve Hargreaves @CNNMoney July 17, 2012: 5:15 AM ET NEW YORK (CNNMoney) — When Royal Dutch Shell sinks five wells off Alaska — slated for next month — it will be the first drilling in U.S. Arctic waters in decades. Yet it will be just the latest in a slow-moving but steady push to [...]

By Paul Vercammen and Chelsea J. Carter, CNN July 16, 2012 — Updated 0642 GMT (1442 HKT) (CNN) — One of the ships that Shell Oil plans to use to drill in the Arctic slipped its mooring and drifted close to one of Alaska’s Aleutian Islands, the latest in a string of incidents to arise [...]

By Steve Hargreaves @CNNMoney June 8, 2012: 6:47 AM ET NEW YORK (CNNMoney) — Greenpeace plans on deploying two submarines to keep tabs on Royal Dutch Shell when the oil company starts drilling in the Arctic, which could begin as soon as next month. The subs, a two-person and a one-person craft, are currently on [...]

Western Cape, South Africa (CNN) — South Africa has an energy deficit on its hands. Too many people want fuel for their cars and electricity for their homes, and the country is struggling to keep up with demand. To help ease this perceived crisis the big companies want to start drilling for natural gas using [...]

Oil industry executives appearing Tuesday at the World Petroleum Congress in Doha, Qatar. DOHA, Qatar (CNNMoney) — Just three years after fears of an energy supply shortage, executives of the world’s leading oil companies now foresee a bonanza of oil and natural gas on the horizon. In 2008, concern that a rapidly developing world was [...]

BP’s Wytch Farm oil well in Poole, England August 5, 2011: 5:00 AM ET Splitting up energy giants may make sense while oil prices are as high as they are today, but it may not be worth the organizational headache for Big Oil to break apart. By Shelley DuBois, writer-reporter FORTUNE — Big Oil may [...]

When Tony Hayward took over BP in 2007 – after the oil giant had experienced a series of calamitous accidents – he vowed that safety would be his top priority. So how did he come to preside over one of the worst industrial disasters in history? A Fortune investigation reveals a saga of hubris, ambition, and a safety philosophy that focused too much on spilled coffee and not enough on drilling disasters.

Interview by Shelley DuBois December 15, 2010: 3:25 PM ET FORTUNE — Slowly but surely, the energy landscape in America and around the globe is changing. Crude is still king, but oil and gas companies are increasingly folding in more and different assets. Shell (RDSA), for example, has purchased and developed tons of natural gas [...]