The corrosion crisis within the oil industry continues to spread. Now Shell has been criticised by the shareholder action group, the Ecumenical Council for Corporate Responsibility (ECCR) over its corroded gas pipes in Ireland.
Oil Industry “Hushing up” Corrosion Crisis
The oil industry is “hushing up” the extent to which corrosion is eating into pipelines and hitting production, according to an influential oil industry consultant who is also the head of the UK Royal Society of Chemistry. Richard Pike, who spent 25 years working for BP before becoming a consultant, argues that some of the … Read More
Could BP’s Problems Lead to $300 a Barrel?
Matthew Simmons is well known within the industry for his predictions on peak oil. He first shot to prominence by arguing that Saudi Arabia was running out of oil and had inflated its reserves figures. His findings were published in the controversial book, Twilight in the Desert: The Coming Saudi Oil Shock and the World … Read More
BP: Three Congressional Hearings into Prudhoe Bay
As well as facing a lawsuit from its shareholders, it has emerged that BP now faces three Congressional hearings into its problems at Prudhoe Bay. Republican Don Young, has scheduled a hearing of the House Transportation and Infrastructure Committee, for Sept. 13.
BP Sued by Shareholders For Alaskan Shut-Down
The fall-out from BP’s Alaskan fiasco continues. The company’s shareholders have now filed a lawsuit against top executives accusing them of letting investors down by failing to repair the pipeline that forced the shutdown of part of Prudhoe Bay. The lawsuit filed earlier this week in Manhattan is targeted at board members and directors including … Read More
BP Spins Alaska Story
Public relations trade magazine, PR Week has reported that BP has “more than doubled the number of external communications people” working in its Anchorage office due to its current problems in Alaska. According to PR Week, “the company’s image is taking a battering because advocacy groups are wondering how such an ‘eco-friendly’ company let something … Read More
BP: Only Itself to Blame For Alaskan Fiasco
I am back from holiday, so lets go straight back to BP. The news that BP had to shut over half of its vast Prudhoe Bay operations because of pipeline corrosion has made headlines across the globe. It has also sent the price of oil nearly $2 dollars a barrel upwards. As BP apologized for … Read More