America's LargestPosts Tagged Shell
Oil Prices Rise on Weak Dollar, Attack on Nigerian Pipeline
As of 9:03 am EST, the price of crude had climbed by 0.6 percent to reach $73.31 a barrel and the price of heating oil had risen by 0.7 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: Down $0.01
Morning projection (for Tuesday’s average price per gallon): Up $0.02
Oil prices climbed on Monday, [...]
Oil Companies Merging in Preparation for Economic Recovery and Surge in Demand
Traders have speculated that Royal Dutch Shell has an interest in buying out Heritage Oil, a Canadian-based exploration company, the UK Guardian reported yesterday. However, just weeks ago, Heritage announced that it had reached a deal to purchase Turkey’s Genel Energy.
Such is life in the oil exploration industry, where mergers and buyouts have become commonplace [...]
Nigeria Extends Amnesty to MEND Rebel Leader Amid Increasing Violence
Nigeria is Africa’s biggest oil producer and the world’s eighth-largest, but a years-long struggle between rebels in the Niger Delta and the Nigerian government has seriously hampered oil production. As reported earlier this month on The HEAT Zone, the Movement for the Emancipation of the Niger Delta, better known as MEND, has launched repeated attacks [...]
Read More »Oil Prices Up on Nigeria Attack and Stock Rally
The price of crude rose 3.3 percent today to close at $71.49 a barrel and the price of heating oil gained 2.9 percent.
HEAT USA Price Report
Evening projection (for Tuesday’s average retail price per gallon): UP $0.06
Crude and heating oil prices posted another big rally today, boosted by supply concerns stemming from a Nigerian rebel attack [...]
Oil Prices Up on New Attack in Nigeria
At 10:02 am EDT, the price of crude had gained 2.2 percent to reach $70.70 a barrel and the price of heating oil had risen by 2.4 percent.
HEAT USA Price Report
Today’s average retail heating oil price per gallon: DOWN $0.04
Morning projection (for Tuesday’s average price per gallon): UP $0.03
Despite signals that both sides would abide [...]
Oil Prices Rise on Latest Rebel Attack in Nigeria
At 9:46 am EDT, the price for a barrel of crude had risen by 1 percent to $69.34 and the price of heating oil had gained 2.1 percent.
HEAT USA Price Report
Today’s retail heating oil price per gallon: DOWN $0.03
Morning projection (for Friday’s average price per gallon): UP $0.04
Nigerian rebels shut down a main Shell pipeline [...]
Nigerian Unrest Cuts into Oil Production for Fifth Consecutive Month, Shell Reports
It’s a story all too familiar: a developing nation has a plethora of natural resources; however, a confusing and violent political quagmire prevents this country from being able to gain wealth from the gifts it has been handed.
In the past, these situations were nothing more than stories on the back pages of newspapers. But in [...]
Jordan Moves Toward Development of Oil Shale Reserves
What do you think of when someone says the words “oil” and “Middle East”? Probably vast Saudi, Kuwaiti, Iranian, or Iraqi oil fields, sitting over half the world’s proven conventional oil reserves.
Probably not cooking oil from Jordanian rocks—especially rocks hundreds of meters deep. But oil from rock is the only kind of oil Jordan has [...]
Iraq Sweetens Deal for Foreign Oil Cos.; China, Shell Make Joint Bids
After six years of conflict and infrastructure devastation, Iraq is seeking investors to pump cash into their weak economy.
Luckily for Iraq, the world’s third largest oil reserves exist within its borders. Because new sources of crude are perpetually in demand, the Iraqi government has attracted dozens of investors to two bidding rounds, the first of [...]
Oil Prices Hold onto Modest Rebound and Close Up Slightly
Persistent expectations of additional OPEC production cuts this month supported a modest recovery of oil prices following yesterday’s huge losses. The price of crude climbed 3.7 percent to close at $41.65 a barrel and the price of heating oil closed 2.4 percent above its opening position on NYMEX today. Shutdowns at several Shell production facilities [...]
Read More »Shell: Oil Theft in Nigeria Costs Company $1.6 billion a Year
According to Royal Dutch Shell, smuggling and theft of oil in Nigeria account for $1.6 billion of the companies losses every year. Nigeria, the world’s seventh-largest producer of crude oil and biggest producer on the African continent, is fraught with oil thefts and attacks on oil infrastructure perpetrated by rebel groups and bands of outlaws.
Shell’s [...]
Iraq Seeks to Boost Oil Output With Help from Western Companies
The U.S. invasion and subsequent occupation of Iraq has decimated that country’s oil production capacity. According the an article on the investment site The Motley Fool, new developments could reinvigorate Iraq’s production in the coming years.
The Iraqi Oil Minister Hussain al-Shahristani said last weekend that OPEC (of which Iraq is a member) will most likely [...]
Oil Prices Rise as OPEC Hints at More Cuts, Stimulus Deal Approaches
From CNBC.com: “‘If we think we still need more action, I’m sure the conference will take more action to stabilize the market,’ the secretary-general of the Organization of Petroleum Exporting Countries, Abdullah al-Badri, told reporters in London.” This new statement gave the oil markets new reason to expect OPEC production cuts in March, helping to [...]
Read More »Oil Companies’ Profits Hurt by Recession
Plummeting oil prices didn’t put much of a damper on Exxon’s 2008 profits, but they did take a large bite out other oil companies’ earnings. An Associated Press article published yesterday reported on dwindling profits in 2008 posted by Shell, BP, and ConocoPhillips.
ConocoPhillips was hit hardest, losing $31.8 billion in the fourth quarter, due mostly [...]
Head of Shell Talks Oil Price Volatility, Green Technology Development on CNBC
Shell’s CEO Jeroen van der Veer spoke to CNBC today from the World Economic Forum being held in Davos, Switzerland. Shell is the second-largest private energy corporation in the world (behind Exxon).
As would be expected of a chief executive, van der Veer put a strong face on his company’s current standing in the climate of [...]
The Future of Oil: Shell’s “Scenarios”
Every three years, the Shell Oil company releases “Scenarios”: predictions for the future of energy resources and consumption. As an oil company, Shell obviously has a lot at stake when it comes to the future of energy, so their scenarios are well-researched and evolve along with new developments in energy technology and legislation.
Shell’s most recent [...]
