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How much are we losing to SHELL?

  • 08-02-2011 08:29PM
    #1
    puffdragon
    Registered Users, Registered Users 2 Posts: 354 ✭✭


    Someone asked in another forum "how much does Shell make from the Corrib Gas field, my concern is how much are we loosing? I dont have all the answers yet but maybe someone could fill me in, thanks, heres a link to start.

    http://www.westernpeople.ie/news/story/?trs=eycwkfmhau


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Comments

  • #2
    muffler
    Registered Users, Registered Users 2 Posts: 46,794 ✭✭✭✭muffler


    Sorry puffdragon but that is a national issue and certainly not exclusive to Donegal. I can moved it to another forum for you if you wish.

    PM me if you want it moved but thread closed for now.


  • #3
    muffler
    Registered Users, Registered Users 2 Posts: 46,794 ✭✭✭✭muffler


    Moving thread from the Donegal forum to Politics forum


  • #4
    jimmycrackcorm
    Registered Users, Registered Users 2 Posts: 14,409 ✭✭✭✭jimmycrackcorm


    Given that we would never have been able to extract the gas ourselves then the answer obviously is that we're not losing anything.


  • #5
    whoopdedoo
    Closed Accounts Posts: 503 ✭✭✭whoopdedoo


    I have no figures myself either but I have read the deal they were handed and it stinks!! we've been paying for the mapping of our coast line for years and are actually still mapping at our own cost now on behalf of shell!!

    supposedly we couldn't have drilled the oil ourselves but I remember reading somewhere about 3-4 years ago that some Irish company were away training some country in oil drilling! I searched for a link to the report but cant find it!

    we just have to take back the profits from the oil for the love of god!!!


  • #6
    whoopdedoo
    Closed Accounts Posts: 503 ✭✭✭whoopdedoo


    jimmycrackcorm wrote: »
    Given that we would never have been able to extract the gas ourselves then the answer obviously is that we're not losing anything.

    I dont believe this for a second, I was speaking to a man recently who worked as a rigger back in the 70/80's around the world and he told me what actually happened off our own coast when oil was found (something along the lines of oil found, recapped and a big hush surrounded the find so the select few could profit thru backhanders!)


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  • #7
    brendankelly
    Banned (with Prison Access) Posts: 318 ✭✭brendankelly


    The figure is in excess of 420,000,000,000 Euros worth.

    As for an Irish company not been able to extract it. Jock Ewing was able to drill for oil for those that can remember Dallas.


  • #8
    slimjimmc
    Registered Users, Registered Users 2 Posts: 7,786 ✭✭✭slimjimmc


    brendankelly wrote: »
    The figure is in excess of 420,000,000,000 Euros worth.

    As for an Irish company not been able to extract it. Jock Ewing was able to drill for oil for those that can remember Dallas.
    Did he drill 83km out into the Atlantic while bobbying on 355m of ocean?


  • #9
    jimmycrackcorm
    Registered Users, Registered Users 2 Posts: 14,409 ✭✭✭✭jimmycrackcorm


    whoopdedoo wrote: »
    I dont believe this for a second, I was speaking to a man recently who worked as a rigger back in the 70/80's around the world and he told me what actually happened off our own coast when oil was found (something along the lines of oil found, recapped and a big hush surrounded the find so the select few could profit thru backhanders!)

    Conspiracy forum is next door.


  • #10
    brendankelly
    Banned (with Prison Access) Posts: 318 ✭✭brendankelly


    slimjimmc wrote: »
    Did he drill 83km out into the Atlantic while bobbying on 355m of ocean?


    Are you implying that an Irish company could not extract this oil. If so shame on you.


  • #11
    fifth
    Registered Users, Registered Users 2 Posts: 3,135 ✭✭✭fifth


    Brendankelly, who - and how - can extract this oil in Ireland? I'd love to know?


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  • #12
    mgmt
    Closed Accounts Posts: 1,361 ✭✭✭mgmt


    funkyflea wrote: »
    Brendankelly, who - and how - can extract this oil in Ireland? I'd love to know?

    Tullow Oil.


  • #13
    K-9
    Registered Users, Registered Users 2 Posts: 43,313 ✭✭✭✭K-9


    mgmt wrote: »
    Tullow Oil.

    Have they shown much interest in doing it?

    Probably need a sticky thread or a super thread on this issue at this stage.

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



  • #14
    brendankelly
    Banned (with Prison Access) Posts: 318 ✭✭brendankelly


    Extracting the oil was never a problem. The problems only started when Shell tried to bring a High Pressure pipe through a local community against the wishes of the local community. There are several oil rigs off the coast of Scotland and many Irish people have worked on them.


  • #15
    Padraig Mor
    Registered Users, Registered Users 2 Posts: 9,775 ✭✭✭Padraig Mor


    whoopdedoo wrote: »
    I have read the deal they were handed and it stinks!! !!

    You haven't really though, have you?


  • #16
    Donal Og O Baelach
    Closed Accounts Posts: 534 ✭✭✭Donal Og O Baelach


    funkyflea wrote: »
    Brendankelly, who - and how - can extract this oil in Ireland? I'd love to know?

    I'd give it a go. When do I start?


  • #17
    mgmt
    Closed Accounts Posts: 1,361 ✭✭✭mgmt


    Padraig Mor wrote: »
    You haven't really though, have you?

    He read the synopsis on Indymedia. LOL


  • #18
    Fratton Fred
    Closed Accounts Posts: 26,567 ✭✭✭✭Fratton Fred


    How much oil and gas has actually been produced so far?


  • #19
    big b
    Registered Users, Registered Users 2 Posts: 1,432 ✭✭✭big b


    OP, if you search this forum for Corrib, you'll find well-informed posts on the actual deal, actual size & worth of the field, and actual tax regime.

    I'm on mobile so can't link the thread, but it was fairly recent. I'd strongly recommend having a read.


  • #20
    Pete_Cavan
    Registered Users, Registered Users 2 Posts: 7,342 ✭✭✭Pete_Cavan


    big b wrote: »
    OP, if you search this forum for Corrib, you'll find well-informed posts on the actual deal, actual size & worth of the field, and actual tax regime.

    I'm on mobile so can't link the thread, but it was fairly recent. I'd strongly recommend having a read.

    See here. Now lets never speak of this again.


  • #21
    Duke Leonal Felmet
    Closed Accounts Posts: 1,520 ✭✭✭Duke Leonal Felmet


    I have never understood why it is being leased out to a foreign company. What is the state making from this venture? Why could they not follow Venezuelas lead and nationalise all gas/oil fields?

    I know the Irish state has no means of drilling itself, I'm just curious as to what the alternatives are.


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  • #22
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,566 Mod ✭✭✭✭johnnyskeleton


    How much are we losing to Shell by charging them low taxes? About as much as we are losing to Microsoft by charing them 12.5%.

    I'm sure if we raise taxes both companies will stay here because they love us so much.


  • #23
    Duke Leonal Felmet
    Closed Accounts Posts: 1,520 ✭✭✭Duke Leonal Felmet


    johnnyskeleton wrote: »
    How much are we losing to Shell by charging them low taxes? About as much as we are losing to Microsoft by charing them 12.5%.

    I'm sure if we raise taxes both companies will stay here because they love us so much.

    Microsoft and Shell's presence here are driven by different factors. This should be glaringly obvious.


  • #24
    Pete_Cavan
    Registered Users, Registered Users 2 Posts: 7,342 ✭✭✭Pete_Cavan


    johnnyskeleton wrote: »
    How much are we losing to Shell by charging them low taxes? About as much as we are losing to Microsoft by charing them 12.5%.

    I'm sure if we raise taxes both companies will stay here because they love us so much.

    That is part of the point addressed in the link I posted above. Our tax regime is set to encourage drilling for oil and gas, yet we have no industry while other countries who charge high taxes on it have thriving industries. That should tell you we have very little oil and gas whereas other countries have lots of it. We are not losing money to Shell.


  • #25
    Zynks
    Registered Users, Registered Users 2 Posts: 1,683 ✭✭✭Zynks


    I have no problem with the corporation tax applicable to Shell and M$ as long as the tax is really enforced, instead of what is happening today with the loopholes known as Double Irish and Dutch Sandwich (Google it for more info).

    The fact is that as it stands we ARE a tax heaven (rather than a low tax country), and if this loophole is used by oil and gas companies the deal is not good for the country.


  • #26
    slimjimmc
    Registered Users, Registered Users 2 Posts: 7,786 ✭✭✭slimjimmc


    brendankelly wrote: »
    slimjimmc wrote: »
    Did he drill 83km out into the Atlantic while bobbying on 355m of ocean?
    Are you implying that an Irish company could not extract this oil. If so shame on you.
    Er no, it was a play on your Dallas reference, which I'm afraid you missed.
    Bobby

    Out of interest, did any Irish company actually express a serious interest and put forward a realistic plan to search for oil/gas and recover it? I always thought that recovery costs were small compared to the cost of research & ocean-based test drilling, and with limited chance of a significant find. I wonder how many Irish companies can risk such a gamble?


  • #27
    Overheal
    Registered Users, Registered Users 2 Posts: 86,727 ✭✭✭✭Overheal


    jimmycrackcorm wrote: »
    Given that we would never have been able to extract the gas ourselves then the answer obviously is that we're not losing anything.
    I thought the Irish work force was educated? I'm guessing Saudi Arabia didn't give away their resources to Shell..


  • #28
    LostinBlanch
    Registered Users, Registered Users 2 Posts: 2,907 ✭✭✭LostinBlanch


    Well speaking as someone who has actually had conversations with someone heavily involved in mapping Ireland's oceanography. They have been of the opinion that we are being mightily screwed over as regards oil and gas reserves in our waters.

    It would be difficult to get a truly independent figure of our reserves as anyone that stands behind them would have difficulty working with any of the major oil companies worldwide after doing so.


  • #29
    K-9
    Registered Users, Registered Users 2 Posts: 43,313 ✭✭✭✭K-9


    LostinBlanch wrote: »
    Well speaking as someone who has actually had conversations with someone heavily involved in mapping Ireland's oceanography. They have been of the opinion that we are being mightily screwed over as regards oil and gas reserves in our waters.

    It would be difficult to get a truly independent figure of our reserves as anyone that stands behind them would have difficulty working with any of the major oil companies worldwide after doing so.

    It does beg the question, why aren't more oil companies here?

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



  • #30
    whoopdedoo
    Closed Accounts Posts: 503 ✭✭✭whoopdedoo


    there really is no point in tryin to fight for anything in this country anymore!!

    It sickens me that I've reached a point where I don't care anymore, yer all welcome to the ****e that is this "state" of "ours", or should I say bankers, big business, pharma, IMF, ECB, Goldman sachs!!

    the way ye treat those tryin to speak up with yer snide remarks and mocking ye all fcukin deserve it!!


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  • #31
    GG66
    Registered Users, Registered Users 2 Posts: 712 ✭✭✭GG66


    Let's be clear on this, Shell are only the company hired to extract the oil & prior to doing so they changed all their filling stations to the name Topaz to avoid any public backlash similar to that experienced in the UK & other countries for their lack or respect for local populations

    Statoil are the company behind the project, in other words the Norwegian State..

    The Irish Government (well Fianna Fail) could have worked out a deal to retain royalties on anything extracted but chose not to do so ...

    Ireland still has an opportunity to negotiate a deal for the rest of our offshore resouces


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