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
09/07/201420:38:25Big Commodity Traders Gain Clout
03/07/201418:13:19Unipetrol Buys Out Eni From Czech Refiner for EUR30 million
25/06/201421:23:57LONDON MARKETS: U.K. Stocks Fall As Part Of Global Equity Slump
25/06/201421:13:22LONDON MARKETS: U.K. Stocks Pull Lower As Part Of Global Equity...
19/06/201417:29:17LONDON MARKETS: FTSE 100 Scores Best Day In Almost Two Weeks
19/06/201411:07:12LONDON MARKETS: FTSE 100 Eyes Its Best Day Since April
19/06/201410:15:28Suez Backs Away From Australian Floating LNG Project --update--
18/06/201422:07:21ADR Shares End Higher
18/06/201417:31:59LONDON MARKETS: U.K. Stocks Rise For Second Day After BOE Minutes
18/06/201417:31:17EUROPE MARKETS: European Stocks Waver Ahead Of Fed Call
18/06/201413:09:46Shell Midstream Applies for US IPO
18/06/201412:14:10EUROPE MARKETS: European Stocks Inch Higher Ahead Of Fed Call
18/06/201409:40:12Shell, CNOOC Sign Global Pact
18/06/201407:30:07Shell, CNOOC Sign Global Strategic Alliance Pact
18/06/201405:59:44ASIA MARKETS: Asia Stocks Mixed Ahead Of Fed Decision
18/06/201403:10:15Asian Shares Mixed Ahead of Fed Policy Meeting
17/06/201422:52:14ADR Shares End Mixed; Yingli Green Shares Active
17/06/201410:48:34ASIA MARKETS: Asia Stocks Mostly Lower, But Japan Moves Higher
17/06/201408:13:49Shell Cuts Stake in Woodside Petroleum -- 2nd Update
17/06/201406:14:16ASIA MARKETS: Asia Stocks Mostly Lower, But Japan Bucks Trend

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