Royal Dutch Shell and its partners are to ask the Kazakh government for an extension to the 2013 deadline for the first oil from their troubled Kashagan field. By Richard Orange, Almaty, Kazakhstan 5:40AM BST 01 Jul 2011 Kazakh oil minister Sauat Mynbayev has repeatedly threatened the consortium of oil companies with heavy financial penalties [...]
Posts Tagged ‘Daily Telegraph’
Royal Dutch Shell Pension Fund Machinations
On 12 December news surfaced that the Dutch pension fund of Royal Dutch Shell is heavily in deficit, with a 40% plunge in value as a result of share market turmoil. A $45 million exposure to the “Madoff” fraud was revealed a few days later following speculation surrounding the stability of the fund.
Global oil demand to fall for the first time in 25 years
The Opec oil cartel may be forced to cut production by as much as 3m barrels a day as global oil demand is set to contract for the first time since 1983 this year, the International Energy Agency (IEA) said.
Higher costs force Shell to delay investments
A final decision on investing in the second phase of Athabasca in Alberta was due next year, but Shell chief executive Jeroen van der Veer said yesterday that approval had been delayed indefinitely. “We wait for costs to cool down before any new investment decisions,” he said.


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