ADVFN - Advanced Financial Network.
HOME» LSE » R » RDSB Share Price » RDSB Share News

Royal Dutch Shell Share News

 Rds 'b' Share Price
RDSB Share Price
 Rds 'b' Share Chart
RDSB Share Chart
 Rds 'b' Share News
RDSB Share News
 Rds 'b' Company Information
RDSB Company Information
 Rds 'b' Share Trades
RDSB Share Trades
 Rds 'b' Share Message Board
RDSB Share Message Board

France Blocks Drilling In French Guyana On Environmental Concerns

By Geraldine Amiel and Alexis Flynn Citing environmental concerns, France Wednesday suspended offshore oil exploration drilling permits in its overseas district of Guyana, a move that surprised oil majors that have beem eyeing a hot new geological play. The French environment minister, Nicole Bricq, a member of President Francois Hollande newly-established administration, confirmed the decision, citing concerns for the local marine fauna. The permits will be suspended until the mining code has been reviewed. The current code wouldn't allow either the local population and stakeholders to be consulted on drilling, she said. "The government doesn't call into question exploration on the Guyanese reserves but wishes to deeply reform the mining code to restore the national sovereignty in terms of the exploitation of its own resources and better protect the environment," the minister said in a statement. The move, which was cheered by environmentalists, underscores anew the difficulty oil majors face in getting access to choice reserves. Oil majors around the world have embarked upon a global race to find new reserves and replace their current production. Although located on the other side of the world from France at the East-Northern tip of South America, French Guyana is a French department and considered French soil. A spokesman for Royal Dutch Shell PLC (RDSB.LN), the operator of an offshore project, said he had no information on the French government's move. "We have not been officially informed of this action and have no comment at this time," he said. Shell, along with partners Tullow Oil PLC (TLW.LN) and Total SA (TOT), has made significant discoveries in its license areas in the region, which geologists believe contains oil reservoirs that mirror those off the coast of West Africa. Total wasn't immediately available to comment, while Tullow referred all questions to Shell as the operator. The move comes a few days before the drilling operations were expected to start. Ms. Bricq' move was praised by environmental protection association Guyane Nature Environnement. "We hail this decision," the association's representative Christian Roudgé said in a telephone interview. "These are risky industrial activities and they should be properly framed, which was not the case with the current mining code," he added. The NGO called upon the government last week to end the exploration process, claiming that the project was weak in terms of plans to address potential pollution, with oil companies planning to use dispersant pollution products and drilling methods which are not allowed in France. Write to Geraldine Amiel at geraldine.amiel@dowjones.com and alexis.flynn@dowjones.com

Share News for Royal Dutch Shell (RDSB)
DateTimeHeadline
30/10/201408:10:26Royal Dutch Shell Posts Rise in Profit
29/10/201417:58:35LONDON MARKETS: Oil Stocks Lift FTSE 100 As Crude Rallies
28/10/201409:24:45LONDON MARKETS: BP Boosts FTSE 100 After Dividend Rise
24/10/201417:30:19LONDON MARKETS: Oil Stocks Knock FTSE Lower For First Time In...
24/10/201416:31:25Royal Dutch Shell 3Q 2014 -- Forecast
22/10/201409:42:13Royal Dutch Shell Announces Gabon Deep-Water Gas Discovery
22/10/201401:53:16British Columbia Proposes Tax Break to Induce Natural Gas Development...
21/10/201423:31:31ADR Shares End Mixed; ARM Holdings Shares Trade Actively
21/10/201422:22:56LONDON MARKETS: FTSE 100 Climbs As Oil Stocks Advance
21/10/201412:40:52CEO of French Oil Giant Total Dies in Moscow Plane Crash -- 4th...
21/10/201412:07:27Shell Chief 'Extremely Sad' At Death of Total CEO
20/10/201414:00:10Shell Midstream Partners Launch IPO in New York
16/10/201415:55:48LONDON MARKETS: FTSE 100 Drops Into Correction; Shire Losses...
14/10/201423:07:55ADR Shares End Mixed; Oil-Related Shares Decline
09/10/201423:22:12ADR Shares End Lower; Royal Dutch Shell, Total Shares Trade Actively
08/10/201423:21:09ADR Shares End Higher; Royal Dutch Shell Shares Trade Actively
08/10/201409:00:00Shell Starts Oil Production from Gumusut-Kakap platform in Malaysia
06/10/201408:01:46Graphene NanoChem: Shell Malaysia Extends PlatAmber Contract
24/09/201409:46:06Singapore Plans LNG Price Benchmark, Asian Trading Hub
16/09/201405:36:50LONDON MARKETS: Oil Firms Pull FTSE 100 Lower; SABMiller Jumps

Royal Dutch Shell and other London Stock Exchange share prices are delayed by at least 20 minutes.
All other share price data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad