SHELL sells Corrib Gas field

robut

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Shell to sell its interest in the Corrib gas field - Independent.ie

Shell has agreed a deal to sell its 45pc interest in the Corrib gas field for $1.23bn (€1bn) to a unit of the Canada Pension Plan Investment Board (CPPIB).

The price includes an upfront €830m payment plus up to €250m that will be paid between 2018 and 2025, subject to gas price and production.
So after all that .. Shell are getting out of Dodge.

Where do we begin?

Shell loses about €1bn on Corrib foray amid Canadian stake sale
 


Lumpy Talbot

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No
Shell have been hit badly in recent years along with BP and both have contracted substantially when the arse fell out of the oil market with Saudi flooding the market in an attempt to head off Iranian re-entry to the global markets.

Both BP and Shell have had to cost-cut dramatically so the Corrib sale could be an extension of that- I know oil prices have steadied again but the decision to sell what they could and layoff lots of people was taken more than a year ago I think.
 

LDF

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€1bn would just about cover the cost of alcohol supplied to Gardai working at Corrib.
 

Lumpy Talbot

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No
AGS in the area looking forward to some cases of Canadian Club whisky.
 

Erudite Caveman

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Someone needs to investigate this deal. I heard there was a trillion € of gas down there. I bet it is the Elites again pocketing the difference and stealing from us.
 

GDPR

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Doesn't seem like a lot of money considering all the trouble it caused . If it had sold for that back in the day , I'd dare say the spendthrift government would have bought it out just to get rid of the problem . It would have been a better investment than electronic voting machines and no risk "public private " partnership deals
 

gleeful

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"Corrib sold at a 1bln loss" would make a good epitaph on the grave stone of the Irish oil industry. No one will try again to pump oil or gas from Ireland.
 

gleeful

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Someone needs to investigate this deal. I heard there was a trillion € of gas down there. I bet it is the Elites again pocketing the difference and stealing from us.
The trillions of oil wealth is only outweighed by the value of fish stolen by the EU. Both have the slight problem of being fictional.
 

im axeled

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€1bn would just about cover the cost of alcohol supplied to Gardai working at Corrib.
are you sure, judging by the drinking by the gards i have observed, 1m would cover only a years drinking, how may keystones for how many gards, the john of god would have a good idea, as would the medical insurers who funded the private care of the ones who went ballistic with their drinking above and beyond what the usual intake was, plus their funding of a habit gone over the top
 

im axeled

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Someone needs to investigate this deal. I heard there was a trillion € of gas down there. I bet it is the Elites again pocketing the difference and stealing from us.
the last time i was up in norway, the geogolists reconed there was more than was admitted, also that there was plenty of oil and gas off ireland but it was not in the oil companys interests to bring it ashore
 

im axeled

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Someone needs to investigate this deal. I heard there was a trillion € of gas down there. I bet it is the Elites again pocketing the difference and stealing from us.
after all they got it for nothing, i am looking at you ray bourke
 

im axeled

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The trillions of oil wealth is only outweighed by the value of fish stolen by the EU. Both have the slight problem of being fictional.
none was stolen, both were gifted, some gainened well out of dem deals, not the taxpayers of ireland, the reason the scotish nationalists fared so bad in the recent elections ade down to the fishermen wanting to hold on to what they had
 

Sweet Darling

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The trillions of oil wealth is only outweighed by the value of fish stolen by the EU. Both have the slight problem of being fictional.
Calm comrade, The Trillions in value of fish was returned in the form of farmer grants. Better?
 


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