Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-U.S. approves Shell's plan to drill for oil in Arctic

Mon, 11th May 2015 20:13

(Adds background, metadata)

By Timothy Gardner

WASHINGTON, May 11 (Reuters) - Royal Dutch Shell's return tooil drilling in the U.S. Arctic for the first time since 2012took a big step forward on Monday when the Obama administrationapproved the company's exploration plan.

The Department of Interior conditionally approved Shell'splan to explore for oil in the Chukchi Sea off Alaska. Shell hasalready spent about $6 billion on exploration in the Arctic.

The Arctic is estimated to contain about 20 percent of theworld's undiscovered oil and natural gas, but its recovery couldbe decades away.

Shell proposes to drill up to six wells in water about 140feet (40 meters) deep, using two vessels that can serve asrelief-wells for each other in case of an emergency.

"We have taken a thoughtful approach to carefullyconsidering potential exploration in the Chukchi Sea," saidAbigail Ross Harper, the director of the Bureau of Ocean EnergyManagement, in a release.

As part of the conditional approval, Shell must obtain permits from the federal government and the state of Alaska inorder to begin drilling this summer. Shell has not drilled inthe Arctic since a mishap-filled 2012 season, when the companywas forced to evacuate its Kulluk drill rig, which eventuallyran aground. (http://reut.rs/1cqzAl9)

One of the vessels that Shell plans to use this summer, theNoble Discoverer, also had problems in the harsh Arctic watersin 2012. At one point it had to be towed to port afterexperiencing vibrations in a propeller shaft.

The incidents did not lead to any oil spills, but theycreated a public relations headache for the company.

Several environmental groups are concerned about drilling inan harsh, pristine region with little capacity for emergencyresponse. "Our government has rushed to approve risky andill-conceived exploration in one of the most remote andimportant places on Earth," said Susan Murray, an official atOceana, a leading voice against Arctic drilling.

Even if Shell gets all the permits it needs, its Arcticaspirations may face a hurdle further south. Last week, the cityof Seattle ruled that its port must apply for a permit to allowShell to make it a hub for drilling rigs headed to the Arctic.

(Reporting by Timothy Gardner; Editing by Bill Trott and SteveOrlofsky)

More News
2 Nov 2021 07:36

UPDATE 4-'Cash machine' BP boosts share buyback as profit surges

* Underlying profits reach $3.3 bln, beating forecasts* Strong trading performance boosts results* BP to acquire further $1.25 bln of shares by early 2022* Shares down 2% as company reports $2.5 bln loss to shareholders (Adds details, updates share...

Read more
2 Nov 2021 07:36

UPDATE 3-'Cash machine' BP boosts share buyback as profit surges

* Underlying profits reach $3.3 bln, beating forecasts* Strong trading performance boosts results* BP to acquire further $1.25 bln of shares by early 2022* Shares down 2% as company reports $2.5 bln loss to shareholders (Updates throughout, adds sh...

Read more
1 Nov 2021 16:25

EXECUTIVE CHANGES: TP Group CEO out as Science Group tightens grip

EXECUTIVE CHANGES: TP Group CEO out as Science Group tightens grip

Read more
1 Nov 2021 09:38

LONDON BROKER RATINGS: Upgrades for Lloyds Banking and NatWest

LONDON BROKER RATINGS: Upgrades for Lloyds Banking and NatWest

Read more
29 Oct 2021 17:05

LONDON MARKET CLOSE: NatWest weighs on FTSE 100 at end of strong month

LONDON MARKET CLOSE: NatWest weighs on FTSE 100 at end of strong month

Read more
29 Oct 2021 14:49

Big oil says up to governments at climate talks to rein in demand

LONDON, Oct 29 (Reuters) - Leaders of Europe's biggest oil and gas companies said political leaders attending U.N. climate talks that start this week must make carbon markets more effective and that only governments can effectively curb fossil fu...

Read more
28 Oct 2021 21:00

Shell to begin Norco, Louisiana, crude, gasoline, diesel unit restarts this weekend -sources

HOUSTON, Oct 28 (Reuters) - Royal Dutch Shell Plc’s storm-idled 230,611 barrel-per-day (bpd) Norco, Louisiana, plans to begin restarting the crude distillation unit (CDU), gasoline- and diesel-producing units as early as this weekend, sources fam...

Read more
28 Oct 2021 17:05

LONDON MARKET CLOSE: Weak Shell results hit FTSE; Apple earnings ahead

LONDON MARKET CLOSE: Weak Shell results hit FTSE; Apple earnings ahead

Read more
28 Oct 2021 16:58

Abdrn investment manager says would 'probably' be against Shell break-up

LONDON, Oct 28 (Reuters) - Abdrn investment manager Iain Pyle said on Thursday he would 'probably' be against a call by hedge fund Third Point to break up Royal Dutch Shell.Pyle, whose company is a top-10 investor in Shell according to Refinitiv d...

Read more
28 Oct 2021 15:59

UPDATE 4-U.S. House Democrats grill Big Oil in climate deception probe

(Recasts with testimony by oil executives)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - Executives from some of the world's biggest oil companies denied in U.S. congressional testimony on Thursday that they continue to misi...

Read more
28 Oct 2021 15:59

UPDATE 1-U.S. Congress puts Big Oil in the hot seat in climate deception probe

(New throughout, updates with opening of hearing, Representative Maloney comments)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - The U.S. Congress on Thursday opened a year's worth of investigations into whether Big Oil dec...

Read more
28 Oct 2021 15:59

UPDATE 5-U.S. House Democrats grill Big Oil in climate deception probe

(Adds quote from Representative Alexandria Ocasio-Cortez)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - Executives from some of the world's biggest oil companies denied in U.S. congressional testimony on Thursday that they c...

Read more
28 Oct 2021 15:59

UPDATE 3-U.S. Congress Democrats grill Big Oil in climate deception probe

(Adds analysis by committee on scant oil company lobbying for Paris Agreement, details from Republican witness)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - The U.S. Congress on Thursday opened a year's worth of investigati...

Read more
28 Oct 2021 15:59

UPDATE 2-U.S. Congress puts Big Oil in the hot seat in climate deception probe

(Adds comment from Republican Representative Comer)By Valerie Volcovici and Timothy GardnerWASHINGTON, Oct 28 (Reuters) - The U.S. Congress on Thursday opened a year's worth of investigations into whether Big Oil deceived Americans about its role i...

Read more
28 Oct 2021 12:24

LONDON MARKET MIDDAY: Stocks edge lower as ECB rate decision looms

LONDON MARKET MIDDAY: Stocks edge lower as ECB rate decision looms

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.