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Posts from ‘September, 2004’

Showa Shell discrimination against 64 employees

Kyodo News Service: The Tokyo Local Labor Relations Commission on Wednesday ordered Showa Shell Sekiyu K.K. and one of its affiliates to pay wages due to 64 employees and give promotions to 59 of them, ruling that they were discriminated against because of their labor union

Posted Sep 30, 2004

The order, which came after a 14-year dispute, said Showa Shell Sekiyu and Shell Chemicals Japan provided the labor union members with far lower wages, bonuses and ability grades than for other employees.

It ordered the two firms to raise ability grades for the 59 employees retroactive to a period between 1988 and 1993 and pay the 59 and five other employees the differences between their wages and bonus income and the due levels.

The labor union said the differences for the period between 1985 and 2000 would total 940 million yen.

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Royal Dutch/Shell quits selling ‘green’ electricity, moves customers to Eneco

AFX Europe (Focus): Royal Dutch/Shell quits selling ‘green’ electricity, moves customers to Eneco

Posted 30 Sept 2004

THE HAGUE (AFX) – The Royal Dutch/Shell group is to stop selling ‘green’ electricity in the Netherlands and is transferring the service’s 60,000 customers to electricity distributor Eneco, according to a joint press release.

No financial details were disclosed.

A spokesman for Eneco said the customers, which include both residential clients and small and medium-sized enterprises, will not have to pay more as a result of the move and in most cases will pay less. The move will boost Eneco’s ‘green’ customer base by 15 pct to 450,000.

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Spiralling oil prices pumped up by marketplace ‘fear factor’

Lloyds List: Spiralling oil prices pumped up by marketplace ‘fear factor’

Nigerian unrest, Iraqi insurgency, Russian export problems and the effects of adverse weather conditions could lead to winter oil shortages, writes Martyn Wingrove

Sep 30, 2004

AS OIL prices shoot over the psychological barrier of $50 a barrel, many experts are wondering how the price of one of the worlds’ most important commodities became so high.

Even the Organisation of Petroleum Exporting Countries, which pumps more than a third of the world’s oil and controls half of all oil exports, cannot understand how the price ended up at this level.

Oil prices peaked above the $50 barrier earlier this week on the back of further fears of supply problems from Nigerian oil fields as local rebels warned of attacks to production facilities and oil companies evacuated staff.

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FTC Clears Magellan’s $492.4M Purchase Of Shell Assets

THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: FTC Clears Magellan’s $492.4M Purchase Of Shell Assets

“In June, Shell Oil Products agreed to sell its pipeline and storage assets in Texas, Oklahoma, Kansas and Colorado to Magellan for $492.4 million.”

Posted 30 Sept 04

NEW YORK — The Federal Trade Commission approved Magellan Midstream Partners L.P.’s (MMP) proposed acquisition of certain Royal Dutch/Shell Group (RD) assets, but required Magellan to divest Shell ‘s Oklahoma City terminal.

A Magellan spokeswoman said the company intends to comply with the FTC’s requirement. Magellan stores, transports and distributes refined petroleum products.

In June, Shell Oil Products agreed to sell its pipeline and storage assets in Texas, Oklahoma, Kansas and Colorado to Magellan for $492.4 million.

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Shell Receives Permits to Start $600 Mln Gas Plant in Mexico

Bloomberg: Shell Receives Permits to Start $600 Mln Gas Plant in Mexico

Posted 30 Sept 04

Royal Dutch/Shell Group and Sempra Energy received permits from Mexico for construction of a $600 million liquefied-natural gas terminal to process gas from Russia for sale locally and in California.

“I understand all the permits are in order,” Peter Kidd, president of Shell’s Mexican unit, said in an interview in Mexico City. The company will decide when to start construction “in a relatively near future,” Kidd said.

Mexico’s energy regulator granted the Shell-led group a permit to stock natural gas in Baja California, according to the website of the Regulatory Energy Commission. Permits are also required from agencies such as the Environment Protection ministry, said Martin Mora, the spokesman of the Energy Ministry.

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Shell Mulls Joining Shtokman Project

The Moscow Times: Shell Mulls Joining Shtokman Project

“Royal Dutch/Shell is considering developing a gas field in the Barents Sea in a joint liquefied natural gas project with Gazprom, Shell said Wednesday.”

Reuters

Bas Czerwinski / AP

Thursday, September 30, 2004. Page 5.

AMSTERDAM — Royal Dutch/Shell is considering developing a gas field in the Barents Sea in a joint liquefied natural gas project with Gazprom, Shell said Wednesday.

“We are currently looking at developing the Shtokman field in the Barents Sea in an LNG project with Gazprom,” a Shell spokesman in The Hague said.

He declined to give further details, but added the project was one of the issues discussed at a meeting between visiting Prime Minister Mikhail Fradkov and Shell’s management on Wednesday.

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NZ Watchdog Says May Revoke Pohokura Gas Marketing Deal-2

Yahoo/Dow Jones Newswires: NZ Watchdog Says May Revoke Pohokura Gas Marketing Deal-2

“Commission Chair Paula Rebstock said that Shell Exploration New Zealand and OMV New Zealand have informed the commission in April this year that the parties have decided to market gas from the field separately.”

Thursday September 30

WELLINGTON (Dow Jones)–New Zealand’s Commerce Commission Thursday said it is considering revoking its decision to approve a joint marketing deal between four companies to sell gas produced from the North Island’s Pohokura gas field.

The Commission said that a material change in circumstances may have occurred since the approval was granted in September last year.

Commission Chair Paula Rebstock said that Shell Exploration New Zealand and OMV New Zealand have informed the commission in April this year that the parties have decided to market gas from the field separately.

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Shell and its jv partners PCSB and ConocoPhillips make significant discoveries at Malikai-1

New Straits Times (Malaysia): The question of overlapping claims on two new oil and gas blocks offshore east Sabah does not arise, as the areas are solely within Malaysia’s jurisdiction, Foreign Ministry parliamentary secretary Datuk Zainal Abidin Osman said today.: “On Sept 22, Shell and its joint venture partners PCSB and ConocoPhillips made significant discoveries at Malikai-1 in the Block G exploration well in Sabah.”

Sep 30, 2004

PUTRAJAYA, Wed. – The question of overlapping claims on two new oil and gas blocks offshore east Sabah does not arise, as the areas are solely within Malaysia’s jurisdiction, Foreign Ministry parliamentary secretary Datuk Zainal Abidin Osman said today.

Malaysia’s continental shelf and the Federal territorial parameters map issued in 1979 both showed the country held sovereignty over the ND6 and ND7 blocks.

“Malaysia’s rights over these areas have never been disputed by any country before, as they are clearly ours and there is definitely no overlapping.” The area also contains the Ligitan and Sipadan islands, ruled as belonging to Malaysia by the International Court of Justice after a legal tussle with Indonesia over sovereignty.

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Shell and Unocal pull out of a Chinese-led natural gas project

Kyodo News Service: Japan will continue exploring for natural gas resources despite Wednesday’s announcement by oil majors that they would pull out of a Chinese-led natural gas project in the East China Sea, the industry minister said Thursday. Shell and Unocal said their decision to withdraw was a result of a one-year period of appraisal. They did not say whether their decision was related to the row between the two Asian neighbors.

Sep 30, 2004

“Japan has remained unaffected by it,” Minister of Economy, Trade and Industry Shoichi Nakagawa told a news conference in reference to the announcement by the Royal Dutch/Shell Group and U.S.-based Unocal Corp.

“We will keep on implementing it,” he said in reference to the natural gas exploration activities Japan has conducted within its exclusive economic zones in the waters off western Japan.

The Chinese natural gas development project, which involves an area of about 22,000 square kilometers, includes the development of the Chunxiao gas field, which spreads over a 1,225-square-km area.

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Nigeria’s oil rebels fuel fears of global shortage

The Independent: Nigeria’s oil rebels fuel fears of global shortage

“…the oil world is in crisis. And Nigeria is no exception.”: “A Shell official, who asked not to be named, said essential supplies were being airlifted to staff still in the area.”: “The battle for oil has commenced in Nigeria. Many other countries are looking on nervously.”

A revolt in the African state is threatening to disrupt the country’s most important export. Christian Allen Purefoy reports from Lagos on the latest conflict driving up the price of crude

Posted 30 September 2004

Scattered across the wetland, massive chimneys burn the natural gas emitted as a by-product of the Niger Delta’s oil. Day and night since 1964 the black towers have spat bright orange flames 30m high.

They should be totems of prosperity; indicators that this chunk of Nigeria, by virtue of geographic good fortune, has tapped into a global industry that one might expect rewards producers of black gold with wealth and political stability.

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World economy held to ransom

Times Online: ANALYSIS: World economy held to ransom: What hope is there for global growth when political and economic developments have left power over the oil markets in the hands a few insurgents?

By Mike Verdin

Posted 30 Sept 04

Until now, the only stocks which bizarrely named rebel groups have been associated with have tended to be prefaced by the word “laughing”. The Tooting Popular Front formed the basis of the Citizen Smith comedy series while the People’s Front of Judea starred in Monty Python’s Life of Brian.

The Niger People’s Volunteer Force, however, is quite a different concern. Local Government officials in Nigeria may dismiss the group’s leader, Mujahid Dukobo-Asari, as “a joker”, but few are laughing at the NGVF’s impact on crude oil prices.

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Oil prices to ’cause global recession’

Times OnLine: Oil prices to ’cause global recession’: “The Niger Delta People’s Volunteer Force, accusing Shell and Agip, the oil giants, of “collaboration with the Nigerian state in acts of genocide against our people”, advised the withdrawal of foreign citizens from the area.”

By Steven Downes, Posted 30 September 2004

Purnomo Yusgiantoro, the president of Opec, the Organisation of Oil Producing Countries, today admitted that the cartel was powerless to halt spiralling oil costs, as the price per barrel broke through the $50 mark in New York overnight and in Asian deals earlier today.

The Indonesia official, reacting to the latest record oil prices, warned that constantly rising oil prices could bring about a global economic recession.

“Right now, Opec cannot do anything and the high oil price can cause a recession,” he was reported as saying by AFP in Jakarta.

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