Shell’s Fort Sumter discover in the Gulf of Mexico will help the company reach 900 MBOEPD of offshore production by the end of the decade Royal Dutch Shell (ticker: RDSA) announced the discovery in the Mississippi Canyon Block 566, 73 miles offshore, southeast of New Orleans in the Gulf of Mexico. The discovery, called Fort Sumter, has initial estimated recoverable
President Obama ‘turning his back on the livelihoods of Alaskans who depend on resource development’ Today, the United States Department of the Interior and the Bureau of Ocean Energy Management released 348 pages of new Requirements for Exploratory Drilling on the Arctic Outer Continental Shelf. Today’s rule addresses certain key factors associated with conducting offshore oil and gas activities on the Arctic
Royal Dutch Shell announced on June 7, 2016, that the final investment decision has been given for construction of a petrochemical plant in western Pennsylvania. The plant will be located near the Marcellus and Utica shale plays and will collect ethane from the area to make ethylene for use in the manufacturing of plastics. The plant announcement was five years
Royal Dutch Shell reports first quarter 2016 unaudited results. Following completion of the acquisition on February 15, 2016, BG Group plc (“BG”) has been consolidated within Royal Dutch Shell’s (NYSE:RDS.A)(NYSE:RDS.B) results. For practical purposes, this includes February and March 2016, as the impact for the first half of February is deemed immaterial. Royal Dutch Shell’s first quarter 2016 CCS earnings attributable
Woodside Petroleum puts the Browse floating LNG project on indefinite hold Low commodity prices have claimed yet another project this week. Woodisde Petroleum (ticker: WPL) announced that it will put its Browse floating LNG project on hold indefinitely as low commodity prices make it more difficult to justify the project. “While significant progress was made to improve project value, this
Shell’s Bruce Culpepper, EVP of HR, Unconventional Resources and Regional Coordination, will Replace Odum as U.S. Country Chair and President of Shell Oil Company Royal Dutch Shell (ticker: RDS.A; Shell.com) has announced that after a 34-year career with the company, Unconventional Resources Director and U.S. Country Chair, Marvin Odum, will leave Shell at the end of March. Since joining Shell as
Cheniere expects first LNG cargo in the coming weeks from Sabine Pass Cheniere Energy (ticker: LNG, Cheniere.com) expects to load the first shipment of liquefied natural gas for export from the U.S. in the coming days. A LNG tanker docked in Cheniere’s Sabine Pass terminal Sunday as the company prepares to send the first cargo from the U.S. by the
Shell now controls 16% of the world’s LNG market, becomes the largest independent producer of LNG Royal Dutch Shell (NYSE: RDS.B; www.shell.com) has leap frogged to the second largest publicly traded energy company in the world following the completion of its $53 billion acquisition of BG Group. The deal was originally announced on April 8, 2015. Under the terms of
The High Court of Justice of England and Wales Sanctions Shell and BG merger A press release from Royal Dutch Shell (ticker: RDSA, Shell.com) today announced that the company has received permission to complete its $70 billion purchase of BG Group. Shell’s offer for BG represented a 50% premium of BG’s closing share price on the day of the announcement,
Shell exits Abu Dhabi due to project economics Royal Dutch Shell (ticker: RDSA) announced today that the company will not continue the joint development of the Bab sour gas reservoirs with Abu Dhabi National Oil Company (ADNOC). According to a press release put out by Shell today, the company concluded “the development of the project does not fit with the
New laws allow for exploration and hydraulic fracturing under national parks The United Kingdom’s Oil and Gas Authority awarded 93 new licenses to explore for oil and gas last week. Around 75% of those exploration licenses relate to shale oil and gas, which will likely require companies to use hydraulic fracturing to produce. The areas covered by the licenses include
Gulf coast plant expansion set to make new jobs at world’s largest alpha olefins plant Royal Dutch Shell’s (ticker: RDS.B) Shell Chemical LP announced today that it received a final investment decision to increase alpha olefin (AO) production at its chemical manufacturing site in Geismar, Louisiana. The expansion consists of a fourth AO unit, which will add 425,000 tons of
