Wed Dec 21, 2011 9:55am EST * “Less than 40,000 barrels of oil” leaked – Shell * Field produces 10 pct of Nigerian oil exports * Shell says oil flow now halted By Emma Farge LONDON, Dec 21 (Reuters) – Royal Dutch Shell is shutting down its huge 200,000 barrels per day (bpd) Bonga oilfield [...]
Posts Tagged ‘OPEC’
World oil demand to strain supply in 2012-IEA
Wed Jul 13, 2011 1:27pm GMT * IEA sees continued gap between OPEC output and demand for OPEC oil * Maintains that strategic petroleum reserves release is working * No decision yet on further stocks releases By Alex Lawler and Barbara Lewis LONDON, July 13 (Reuters) – World oil demand growth will accelerate next year, [...]
Royal Dutch Shell expected to report a 70 per cent fall in profits to $2.5 billion
On Thursday, Royal Dutch Shell, BPs Anglo-Dutch rival, is expected to report a 70 per cent fall in profits to $2.5 billion.
Shell May Close or Sell Montreal East Oil Refinery
Refiners need to consolidate and close plants to increase profitability, the Organization of Petroleum Exporting Countries said yesterday. The Hague-based Shell put two refineries in northern Germany up for sale earlier this year. Chief Executive Officer Peter Voser has pledged to simplify decision-making and cut costs against a deteriorating economic backdrop.
Oil Is Steady Amid Concerns of U.S. Refinery Strikes, OPEC Cuts
The labor group didnt receive any new proposals from Royal Dutch Shell Plc yesterday, Lynne Baker, a spokeswoman for the United Steelworkers union, said in an e-mail. Both parties continue to discuss bargaining issues, she said, without giving details.
OPEC Calls for Curbing Speculators, Blames Hedge Funds for Rout
Even if we look back at 1998 and 1986, weve never had this violent a shift at this extreme in terms of prices, said Daniel Yergin, chairman of Cambridge Energy Research Associates Inc., referring to previous bear markets. Yergin will also be attending the forum in Davos, as will Jeroen van der Veer, chief executive officer of The Hague-based Royal Dutch Shell Plc
Crude Oil Set for Two-Week Decline After OPEC Cuts Forecast
Morgan Stanley is seeking a supertanker to store crude oil, joining Citigroup Inc. and Royal Dutch Shell Plc in trying to profit from higher prices later in the year, four shipbrokers said.
Oil Falls a Third Day on Concern the Recession Will Cut Demand
Royal Dutch Shell Plc resumed contracted deliveries of Nigerias Bonny, Bonga and Forcados crude-oil grades after production was cut by pipeline attacks.
Venezuela reduces oil production
It says the cuts will be made from joint ventures between Venezuela’s state oil company and foreign companies including Royal Dutch Shell, Chevron Corp. and France’s Total
OPEC Cuts Biting Into Oil Cos’ Output Growth Areas
In early November, Anglo-Dutch Royal Dutch Shell PLC, the world’s second largest oil company, was the first to disclose it was hurt by an OPEC cut, when it called force majeure on some of its Nigerian crude exports
Oil Curve Steeper Than 99 Shows Crude May Gain in 09 on OPEC
Shell, based in The Hague, postponed a decision to expand its Athabasca oil-sands project in Canada. Valero Energy, the largest U.S. refiner, said in October it will defer projects to cut spending by about $500 million, or 17 percent.
Crude Oil Rises First Time in 3 Days After U.A.E. Cuts Output
Crude hasnt bottomed out as yet because we are getting so much bad economic news, said Tony Regan, a Singapore-based independent energy consultant, who formerly worked for Royal Dutch Shell Plc and Nexant Inc.
Oil $36.22 a barrel on New York Mercantile Exchange, the lowest price since June 2004
Futures contracts for January delivery yielded under heavy selling pressure Thursday to finish down $3.84, or 9.6%, at $36.22 a barrel on the New York Mercantile Exchange, the lowest price since June 2004.
Big Oil Projects Put in Jeopardy by Fall in Prices
Were in remission right now, said Marvin E. Odum, the vice president for exploration and production for Royal Dutch Shell in the Americas. But once the economy picks up, he said, the energy challenge will come back with a vengeance.
OPEC Plans Drastic Cut In Oil Production
Royal Dutch Shell has announced that it will delay some of its planned expansion of expensive oil sands projects in Canada. Rob J. Routs, executive director of oil products and chemicals and a member of the board at Royal Dutch Shell, said that reaching the target of 700,000 barrels a day would be “pushed out at least two to four years.”


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