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Posts from ‘January, 2006’

The Australian: Barrow doubt hits Gorgon

By Nigel Wilson January 30, 2006 THE $11 billion Gorgon gas project faces big delays after warnings by its engineering advisers that placing the processing facilities on Barrow Island may be too costly. Engineers are looking again at whether gas from the Greater Gorgon reservoirs in the Indian Ocean could be piped directly to the [...]

THE WALL STREET JOURNAL: Oil-Price Shock Tops List Of Global Economic Risks Amid Supply, Geopolitical Worries

By MARC CHAMPION Staff Reporter of THE WALL STREET JOURNAL January 30, 2006; Page A2 DAVOS, Switzerland — The good news about oil is that even if terrorists were to blow up key infrastructure around the world, there probably would be enough reserves to make up the shortfall for as long as a year. At [...]

The Times: Look ahead

Royal Dutch Shell is expected to report the biggest profits performance in UK corporate history when it announces its fourth-quarter results on Thursday. Analysts expect the oil and gas group to reveal that it made $23.03 billion (£12.9 billion) last year, up from $17.59 billion over the previous 12 months. Shell is expected to report [...]

Daily Telegraph: The week ahead

A guide to company results and meetings, and economic statistics Royal Dutch Shell is expected to unveil record profits for a British company fuelled by a steep increase in oil prices over the past year. The oil giant's fourth quarter results on Thursday are expected to push the company's annual earnings up to a record [...]

Daily Telegraph: Refiners urge Brown to rethink

By Roland Gribben (Filed: 30/01/2006) Pressure is growing on the Government to end opposition to the creation of a new agency to control Britain's strategic oil stocks, amid worries about the future of the refinery business. The Chancellor Gordon Brown has been reluctant to support the move because he is concerned the Government may end [...]

AFX Europe (Focus): Hostage oil workers released in Nigeria – official UPDATE

LAGOS (AFX) – Four foreign oil workers who had been held hostage by Nigerian separatist militants for 19 days have been released by their captors, a state government spokesman told Agence France-Presse. “They've been released. They're with the governor right now. They're very OK,” said Bayelsa State spokesman Ekiyor Welson, speaking by telephone from the [...]

The New York Times: Nigerian Militants Free Foreign Oil Workers

By REUTERS Published: January 30, 2006 Filed at 2:39 a.m. ET YENAGOA, Nigeria (Reuters) – Nigerian militants released four foreign oil workers on Monday, ending a 19-day hostage crisis that also saw Nigerian oil output cut by a tenth. The hostages — an American, Briton, Bulgarian and Honduran — were abducted from an offshore oilfield [...]

The New York Times: Oil Pushes Over $68 as Iran Talks Overshadow OPEC

By REUTERS Published: January 30, 2006 Filed at 1:19 a.m. ET SINGAPORE (Reuters) – Oil prices climbed half a dollar to above $68 a barrel on Monday, shrugging off a likely rollover in OPEC production to focus on key talks over Iran's nuclear program and more militant attacks in Nigeria. U.S. light crude climbed 46 [...]

Financial Times: Filtronic aims for predictability

Published: January 30 2006 MONDAY *Filtronic, which is due to report its interim results, has “a long record of not meeting expectations”, according to one analyst. Today's announcement will provide clues as to whether the company, which makes microwave electronics for the wireless telecommunications and defence industries, is moving into more profitable and predictable times [...]

Financial Times: Streamlined websites net top graduates

By Jon Boone, Education Correspondent Published: January 30 2006 Top companies are pouring resources into their recruitment websites as the battleground for scooping up top graduates has moved from university career fairs to the internet. According to the second annual study of 102 corporate career websites, published today, leading companies were busy in 2005 relaunching [...]

The Observer: Treasury cashes in on the UK's financial jiggery-pokery

Frank Kane Sunday January 29, 2006 The front-page headline in the Financial Times last week was good news indeed. 'UK tops inward investment league,' it declared, going on to explain that Britain had attracted more cash than any other country in 2005. Hawk-eyed foreign investors had spotted the opportunities of the keenly competitive and efficient [...]

The Observer: Who's to blame for the big bang?

As families suffering from the multiple effects of the Buncefield oil depot blast wait for compensation, no one is accepting responsibility, reports Jon Robins Sunday January 29, 2006 Sixty families who were injured or suffered damage to their homes in the Buncefield fuel depot explosion have begun legal action in the High Court against one [...]

THE WALL STREET JOURNAL: OPEC Expected to Maintain Current Production Quota

A WALL STREET JOURNAL ONLINE NEWS ROUNDUP January 28, 2006 11:49 a.m. ALGIERS — OPEC will maintain its current production quota when it meets Tuesday in Vienna, Algerian Oil Minister Chakib Khelil said Saturday. “There is a consensus with the member countries to maintain the current quota as there is enough oil in the market,” [...]

THE WALL STREET JOURNAL: Nigerian Militants Warn Against Rescue Attempt

Associated Press January 28, 2006 7:56 p.m. LAGOS, Nigeria — Militants who claim to be holding four foreigners hostage in Nigeria's oil-rich delta warned the military Saturday against attempting to free them by force. In a statement, the group claiming to hold the men accused the Nigerian government of planning military action with unidentified foreign [...]

The Observer: Oil delta burns with hate

Escalating violence means western firms are thinking of quitting Nigeria. China may be quick to fill the vacuum, writes Nick Mathiason Sunday January 29, 2006 Levels of thuggery that once seemed acceptable to major oil firms operating in the Nigerian delta are now spilling over into widespread, vicious attacks. Will murder and kidnapping force them [...]