Posted on 04/29/2015 11:46:17 AM PDT by bananaman22
How can Shell possibly finance the purchase of BG?
Royal Dutch Shell is set to report its first quarter earnings, and by all accounts, it will be a doozy. Analysts predict a 60 percent decline in earnings from a year earlier, including a massive 7 percent fall in production.
But the price tag for BG will be $70 billion, a colossal sum in a period of low oil prices. Shell has already said that it would undertake a major divestment campaign to rid itself of assets it does not see as integral to its future. Purchasing BG is a sign that Shell sees itself as a company that will be increasingly a producer of LNG and offshore oil.
Still, there is an elephant in the room that Shell has not yet explained. That is its ill-fated campaign in the U.S. Arctic. Shell has done all it can to keep its options open for the summer of 2015, moving rigs into place and securing the almost all of the necessary regulatory approvals. But it hasn’t fully committed on a return to drilling.
Environmental group Oceana has opposed Shell’s Arctic campaign from the start. It and other organizations have sued the federal government in hopes of nullifying Shell’s Arctic leases. Now it is turning to the Securities and Exchange Commission (SEC), arguing in a petition that Shell is putting its shareholders at risk with its campaign in the Arctic. Having already spent more than $6 billion, Shell has stated that it will spend another $1 billion on drilling several wells in the Chukchi Sea. But Oceana argues that the company’s financial health is at risk should there be an oil spill, which would lead to unknown costs.
(Excerpt) Read more at oilprice.com ...
That’s a very interesting posting history you’ve got there:
http://www.freerepublic.com/tag/by:bananaman22/index?tab=comments;brevity=full;options=no-change
just saw on the news that they have equipted massive airplanes with air quality measuring devices and are flying over oil drilling sites taking measurements now-
Thisa doesn’t bode well for the future of oil drilling in America as the rallying cry by the left will be “Not one m ore child with Asthma should suffer because of dirty air” That is why we’re seeing an increase in asthma in children stories cropping up everywhere- they are laying the groundwork to ban oil drilling in the name of ‘health of the nation’s children’
Ping.
Thank you, I hope you are enjoying out posts!
The Arctic is estimated to contain 20 percent of the world’s undiscovered hydrocarbon resources, although the reserves are extremely remote and costly to develop.
http://uk.reuters.com/article/2015/03/30/shell-arctic-idUKL2N0WW20X20150330
What posts?
All I see are excerpts.
oilprice.com must be excerpted per copyright complaint.
Yeah, I know they are not on the list, but having oilprice.com in the source field forces an excerpt, although not this short of an excerpt...
I didn’t see them on the list, so.....
One of these days that thing needs to be updated.
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