Tag: Shell

Kiran Stacey

Shell has produced a lengthy update to its Shell Scenarios today, laying out what the company believes will be the themes affecting the energy industry until 2050.

Its core findings are summed up in this article from The Times (£). The general trend is not particularly shocking: emerging market energy demand will outstrip that from the OECD, and diminishing supplies will lead to a potentially vicious squeeze.

But the scale of the problem as far as Shell sees it is stark. It thinks the gap between supply and demand could be equivalent to the global energy industry’s entire output in 2000.

Oil prices jumped above $103 a barrel for Brent crude on Thursday amid the latest violent clashes in Egypt between pro-democracy protestors and supporters of embattled president Hosni Mubarak.

The price is now over 8 per cent higher than before the turmoil started last week – a clear sign of concern but not of panic. Yes, the Suez canal is a vital supply line. And yes, there are some risks of contagion to the big oil exporters. But investors seem to be holding their nerve.

Kiran Stacey

Will the glut of natural gas be a good thing for the environment? The gas industry insists it could be if we invest in the infrastructure to use it, as it would displace coal, which produces more CO2 when burned.

Environmentalists, however, say that investing in gas would simply lay the groundwork for a whole new generation of hydrocarbon-producing power plants, and set the goal of sharply reducing emissions back years.

Sylvia Pfeifer

Shares in BP hit a 6-month high this morning after a report that rival Royal Dutch Shell considered an opportunistic takeover bid for the UK oil group in the summer during the Gulf of Mexico oil spill.

BP’s shares were up 5 per cent to 488.85p at 10am this morning in London trading.

According to the report in the Daily Mail Shell weighed a bid while oil was still flowing into the waters of the gulf but decided against it because of the potentially uncapped legal liabilities facing BP. The paper says Shell might still bid for BP if another suitor emerges over the coming months but is unlikely to be the “first mover”.

Kiran Stacey

Peter Voser

Image by Shell

In this week’s readers’ Q&A session, Peter Voser, the chief executive of Shell, answers your questions.

In the second of two posts, he discusses the future of natural gas, the controversial process of “fracking” and why biofuels are the answer to powering transport.

Next in the hotseat is Chris Huhne, the UK energy secretary, who will be answering your questions on electricity market reform next Thursday, December 23rd. Send in your questions for consideration by the end of today – Friday, December 17th – to energysource@ft.com.

But for now, over to Peter:

Kiran Stacey

Peter Voser

Image by Shell

In this week’s readers’ Q&A session, Peter Voser, the chief executive of Shell, answers your questions.

In the first of two posts, he addresses when and how the next oil price shock might happen, the future of the North Sea and why Shell left the Falklands.

In the second post, published above, he discusses the future of natural gas, the controversial process of “fracking” and why biofuels are the answer to powering transport.

Next in the hotseat is Chris Huhne, the UK energy secretary, who will be answering your questions on electricity market reform next Thursday, December 23rd. Send in your questions for consideration by the end of today – Friday, December 17th – to energysource@ft.com.

But for now, over to Peter:

Kiran Stacey

Macondo explosionThe BP oil spill has harmed the reputation of the entire oil industry, the chief executive of Shell, BP’s closest rival, has said.

Answering Energy Source readers’ questions, Peter Voser said:

Undeniably, the Macondo incident has greatly harmed the oil industry’s reputation. Our ablity to drill in deep water has been questioned, and that’s a serious matter.

Kiran Stacey

Image by Shell

Many thanks for all your questions for Yvo de Boer, former head of the UN climate change department and current advisor to KPMG. His answers will appear on this site on Friday, December 10th.

Next week, the person in the hotseat will be Peter Voser, the boss of one of the world’s biggest oil companies, Shell. This is your chance to ask him anything you want, from the controversy surrounding oil sands, to why Shell thinks gas is so important, to the prospects for drilling in the Gulf following the BP spill.

Email all your questions to energysource@ft.com by the end of Monday, December 13th.

Kiran Stacey

Yesterday Desire Petroleum’s shares jumped more than a quarter, which can only mean one thing: oil in the Falklands.

As The Times reported (£):

In an announcement that could exacerbate tensions over the islands’ sovereignty with Argentina, Desire said that its offshore Rachel North well had been drilled to a depth of more than 3 kilometres and discovered a 57-metre thick belt of oil interspersed with layers of sand and shale.

Sheila McNulty

The majors have a history of selling what they believe are their “cast offs” to the small, independent oil and gas producers because they see little value in them. When they all left the US for global markets, writing the US off as “mature” back in the 1970s, the independents picked up the pieces and carried on.

Not only did many continue to make a profit over the years, but they came up with new technology and expertise that cracked the code to making shale gas and now shale oil economic. The US is now a virtual boom town for energy resources.

So it is interesting to see that the majors, now back in the US and rushing to pick up shale assets from the independents, are selling their conventional assets in both the US and Canada.

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