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April 2011

Shell makes $8.78 billion profit in Q1

By: 
Toby Sterling - Associated Press

AMSTERDAM (AP) - Royal Dutch Shell PLC, Europe's largest oil company, on Thursday reported booming profits of $8.78 billion in the first quarter, up 60 percent from a year ago thanks to higher oil prices as well as gains on asset sales and improving refining operations.

With gas prices at the pump approaching $4 per gallon in U.S. and countries around the world seeking to reduce budget deficits, Chief Financial Officer Simon Henry said the company was worried about higher taxes _ and it will plan its future investments accordingly.

Posted Date: 
30 April 2011

Teachers’ Union unanimously votes to take Natural Resources into public ownership - update

By: 
Gregor Kerr - WSM

A motion at the annual Congress of the Irish National Teachers Organisation (INTO) today calling for the “setting up of a policy study group” within the Irish Congress of Trade Unions to “conduct an urgent enquiry into …. the feasibility of the Irish state re-taking into public ownership” Ireland’s Natural Resources has been passed by a unanimous vote - a level of support that took even those who strongly supported the motion by surprize.

Posted Date: 
30 April 2011

Ó Cuív stunned at oil and gas licensing stance

By: 
Lorna Siggins - Irish Times

FIANNA Fáil energy spokesman Éamon Ó Cuív has said he is “stunned” at the stance taken by Minister for Energy Pat Rabbitte on energy resources.

Mr Ó Cuív, former rural, community and Gaeltacht affairs minister, has also said some civil servants in two government departments were “resistant” to efforts that he and former energy minister Eamon Ryan made to resolve the Corrib gas dispute.

Posted Date: 
29 April 2011

An Taisce calls on ESRI to focus more on the 'Research'!

By: 
An Taisce
Charles Stanley-Smith Chair of An Taisce, the National Trust for Ireland was deeply critical of calls by the ESRI's John FitzGerald for Corrib gas to come on-stream in order to address energy security for Ireland.
Posted Date: 
29 April 2011

Anger as oil giant shell rakes in £50m a day as motorists are hammered at petrol pumps

By: 
Daily Mail

Shell sparked anger last night after it announced profits of nearly £50million a day as motorists are hammered at the petrol pump.

The oil company reported profits of £4.1billion  for the first three months of 2011 - up 41 per cent on the same period of last year.

The big increase, which was marginally ahead of City expectations, reflected the latest hike in oil prices and better margins in refining.

Posted Date: 
29 April 2011

Profits rise at Shell and Exxon on oil spike

By: 
Rowena Mason - The Telegraph

Energy majors Royal Dutch Shell and ExxonMobil saw their profits jump on the back of higher oil prices, but both will be hit by increased North Sea taxes.

Shell's profits jumped more than 40pc to $6.9bn (£4.15bn) in the first quarter on a current cost of supply basis - the company's preferred measure, which strips out inventory changes.

Royal Dutch Shell B

Posted Date: 
29 April 2011

Shell Sees $600 Million in Charges From Osborne’s North Sea Tax

By: 
Brian Swint - Bloomberg

Royal Dutch Shell Plc (RDSA) said it will take charges of more than $600 million this year and next after U.K. Chancellor of the Exchequer George Osborne raised taxes on North Sea oil profits.

Posted Date: 
29 April 2011

Gas pipeline attacked in Egypt

By: 
RTE

Egyptian authorities have brought a fire under control after a pipeline running through the North Sinai region of Egypt was bombed.

The pipe supplies gas to Israel and Jordan

It is the second such attack since February and comes two weeks after Egypt's new government decided to review all contracts to supply gas abroad.

The attack took place at dawn near Al-Sabil village in the El-Arish region.

Posted Date: 
29 April 2011

'Grossly misleading' of ESRI to say Corrib a panacea for Ireland’s energy needs

ESRI ‘TOTALLY WRONG’ TO SAY CORRIB A PANACEA FOR IRELAND’S ENERGY NEEDS

-- Corrib field equivalent to gas consumed in Ireland every five years --
Today’s ESRI energy review is grossly misleading in its attempt to portray the Corrib Gas project as a panacea for Ireland’s energy needs, Shell to Sea has said. Corrib’s one trillion cubic feet of gas is equivalent to the amount of gas consumed in the Republic of Ireland every five years.

Dáil debates potential ‘bonanza’ from offshore resources

By: 
Áine Ryan, The Mayo News

A SINN Féin Private Members‘ motion calling for the establishment of a state exploration company, which would hold a 51 per cent share in all oil and gas finds, was debated in the Dáil last week.
Responding to the motion, Minister for Energy, Pat Rabbitte said there was a ‘developing myth’ that this country had vast quantities of untapped oil and gas off its shores.

Posted Date: 
26 April 2011