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Posts on ‘February 8th, 2006’

Rossport men face return to Cloverhill

MayoNews.ie: Rossport men face return to Cloverhill By Stephen O’Grady WITH mediation talks between the Rossport Five and Shell sidelined, Willie Corduff, Micheal Ó Seighin, Brendan Philbin, Philip and Vincent McGrath (below) are this week facing the daunting prospect of a return to prison. The five men, who served 94 days in jail for refusing [...]

THE SUN: BP RIDES STORM

BP has shrugged off the ravages of Hurricane Katrina to report record profits. Britain's biggest company admitted Katrina and other hurricanes in the Gulf of Mexico shaved £1.9billion off the figure. But full-year profits still rose by 25 per cent to £11.04billion, thanks to surging oil and gas prices. Yet shares fell 18p to 647.5 [...]

ShellNews.net: Are you a “Team A” litigant suing Shell in Malaysia?

By John Donovan We know quite a lot about the “Team A” law suit brought against Shell in Malaysia. That case involves a group of 399 former Shell employees. Their action relates to deductions made by Shell to their Employee Providence Fund. A Judge has already ruled that the deductions were “unlawful”. Shell has appealed [...]

Pacific Magazine: PNG: Shell Employees Not Happy With Proposed Takeover Of Company

Wednesday: February 8, 2006 Employees of Shell (PNG) Limited are planning industrial action over the proposed takeover of the company’s Papua New Guinea assets by InterOil Corporation. Employees told the Post Courier that they were not happy with the proposed takeover of the company by Canadian energy company InterOil Corporation. They gave the management until [...]

International Herald Tribune: Big oil is getting pushed around

By Jim Kennett and Manash Goswami Bloomberg News TUESDAY, FEBRUARY 7, 2006 Exxon Mobil's biggest competitor in the quest for oil reserves is not BP or Royal Dutch Shell. It is the governments of China, South Korea and India. Chevron and Exxon Mobil lost an auction for Nigeria's most promising oil and gas fields last [...]

The Times: Taxing oil majors hurts Britain's savings

LORD BROWNE of Madingley had a clear message for Government, as well as for more vociferous but less powerful critics, as he delivered BP’s bumper profits announcement. The UK’s pension funds depend heavily on his company for their income. Would the Chancellor kindly remember that before slapping extra taxes on the oil business. This was [...]

Daily Telegraph: Upheaval leaves supplies vulnerable, warns BP

By Christopher Hope, Industry Editor (Filed: 08/02/2006) Lord Browne of Madingley, chief executive of BP, yesterday warned of “significant supply disruption” to world oil supplies as the company announced the biggest proposed cash return to shareholders in British corporate history. Speaking as the oil giant announced a 25pc jump in annual replacement cost profits to [...]

Daily Telegraph: BP's success caught up in pump and circumstances

Business comment By Tom Stevenson (Filed: 08/02/2006) Upheaval leaves supplies vulnerable, warns BP Lord Browne may have been voted the UK's most impressive businessman for the sixth time but he looked friendless as he announced BP's record profits. The UK's largest company is between a rock and a hard place every time it reports bumper [...]

The Guardian: The cash keeps on gushing

Wednesday February 8, 2006 BP is paying out staggering sums BP may have lagged behind Shell and Exxon in terms of 2005 profits, but Lord Browne's oil machine is still producing some extraordinary numbers. The $65bn (£37bn) that could be returned to shareholders over the next three years, assuming a $60 oil price, is a [...]

The New York Times: 86 Evangelical Leaders Join to Fight Global Warming

By LAURIE GOODSTEIN Published: February 8, 2006 Despite opposition from some of their colleagues, 86 evangelical Christian leaders have decided to back a major initiative to fight global warming, saying “millions of people could die in this century because of climate change, most of them our poorest global neighbors.” Among signers of the statement, which [...]

Asia Pulse: BANGALORE TO BE THIRD KEY GLOBAL RESEARCH LOCATION FOR SHELL

Feb 08, 2006 MUMBAI, Feb 8 Asia Pulse – Royal Dutch Shell Technology on Tuesday said Bangalore would be the location for its latest technology centre for high-end technical studies, projects and services across the globe with a view to develop products that will be key to the future of energy business. “Currently, Shell has [...]

Financial Times: Oil spike gives BP room to return up to $65bn

By Carola Hoyos in London Published: February 8 2006 02:00 BP yesterday revealed it planned to return up to $65bn (£37bn)to shareholders during the next three years in what promisesto become an industry-wide bonanza. Depending on oil price movements, shareholders of the world's five biggest listed energy groups could receive as much as $250bn through [...]

Financial Times: Oil spike gives BP room to return up to $65bn

By Carola Hoyos in London Published: February 8 2006 02:00 BP yesterday revealed it planned to return up to $65bn (£37bn)to shareholders during the next three years in what promisesto become an industry-wide bonanza. Depending on oil price movements, shareholders of the world's five biggest listed energy groups could receive as much as $250bn through [...]

Financial Times: Investors in BP let down by quarterly earnings

By Toby Shelley Published: February 8 2006 02:00 BP yesterday disappointed investors despite producing record annual profit and announcing plans to return up to $65bn (£37m) to shareholders over the next three years. BP reported a net profit of $22.34bn for 2005, up from $17.1bn the year before. But weaker-than-expected earnings for the fourth quarter [...]

Financial Times: Sharing that oil profit

Published: February 8 2006 02:00 The paradox of the oil industry is that it is investing record amounts in exploration and production but, because its overall profits have risen even faster, it is returning even larger amounts to its shareholders. BP yesterday promised to give its shareholders $50bn-$65bn in dividend payments and share buybacks in [...]