Britain’s most valuable company Royal Dutch Shell plans to cut its upstream spending in America by a fifth and reorganize its operations into smaller “performance units” in its first major shake up since Ben van Beurden took over as chief executive officer at the beginning of the year.
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CALGARY – Royal Dutch Shell PLC told regulators it is halting work on its Pierre River mine in northern Alberta’s oil sands and that it has no idea when it may revive the blueprints.
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Construction is underway at Shell’s Carmon Creek project, 45 km northeast of Peace River.
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After two years of studying the possibility of building a huge gas-to-liquids plant on the Gulf of Mexico coast in order to take advantage of the cheap supply of US shale gas, Royal Dutch Shell has decided to cancel the project as estimated costs had risen to $20 billion, no longer making the scheme a viable one.
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Shell Canada’s Jackpine oilsands mine expansion plan has received the go-ahead from Ottawa, despite the environment minister’s view that it’s “likely to cause significant adverse environmental effects.”
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THE HAGUE, The Netherlands, October 31, 2013 /PRNewswire via COMTEX/ — Royal Dutch Shell plc (Shell) RDS.A +0.06% RDS.B +0.38% today announced its decision to proceed with its Carmon Creek project in Alberta, Canada, expected to produce up to 80,000 barrels of oil per day. Carmon Creek is a thermal in situ project that is 100 per cent Shell owned and will be part of the company’s broader production, refining and marketing business across the full value chain in North America.
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Some said that the automobile would never replace the horse, so when it has been said that oil will never be replaced as the main driver behind society’s existence, maybe we shouldn’t be too quick to believe it. Shell, one of the largest energy companies in the world, has come out and admitted that “by 2070, the passenger road market could be nearly oil-free.”
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Shell Canada has been approved by the ERCB to proceed with its Carmon Creek Project.
In January 2010, Shell submitted a regulatory application for the project to increase its thermal production to 80,000 barrels per day in two phases of 40,000 barrels per day. Currently, the existing Peace River thermal production facility, which has been in operation since 1986, can produce up to 12,500 barrels per day.
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A controversial pipeline project in southern Alberta has received approval from the Energy Resources Conservation Board.
Shell Canada has received approval to build two pipelines and a natural gas battery near Beaver Mines, Alta., with several conditions imposed by the board relating to emergency response, corrosion monitoring and air quality.
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EDMONTON – Shell Canada’s proposed $12 billion Jackpine mine expansion faces another delay with the joint review panel announcing Monday it needs more time to sort through the complex evidence.
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