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Posts from ‘February, 2006’

THE WALL STREET JOURNAL: Framing the Issue: Unrest Behind Oil's Rise

A thwarted attack on a massive oil facility in Saudi Arabia rattled oil markets Friday, pushing up crude-oil futures by more than $2 a barrel. THE BACK STORY: Heavy demand has kept the price of oil at about $60 since the end of July 2005. But lately, political concerns have been the primary driver of [...]

THE NEW YORK TIMES: Oil Climbs 4 Percent on Saudi Attack

By REUTERS LONDON (Reuters) – Oil jumped more than $2 on Friday after news of a suicide bomb attack at the huge Abqaiq oil facility in Saudi Arabia, which triggered worries about supply from the world's top crude producer. At least two cars exploded at the gates of the Abqaiq site when security forces fired [...]

THE NEW YORK TIMES: Armed Group Shuts Down Part of Nigeria's Oil Output

By LYDIA POLGREEN Published: February 25, 2006 IN THE NIGER DELTA, Nigeria — They have, by all appearances, just a handful of boats, some machine guns and grenade launchers and, perhaps equally important, an e-mail address. Macon Hawkins of Kosciusko, Tex., an employee of a pipe-laying company, is a hostage of the Movement for the [...]

THE NEW YORK TIMES: Iran Promises Answers on Atomic Work: Diplomats

By REUTERS Published: February 25, 2006 BERLIN/TEHRAN (Reuters) – U.N. nuclear experts arrived in Iran on Saturday after Tehran promised answers to outstanding questions about work the U.N. fears could be linked to atomic ''weaponisation,'' Western diplomats said. Separately, two diplomats said Tehran had begun operating 10 uranium enrichment centrifuges at its Natanz plant in [...]

The Independent: IN BRIEF: Sakhalin project wins approval

The Independent – United Kingdom; Feb 25, 2006 Shell's $20bn(pounds 11bn) Sakhalin project off Russia's eastern coast was boosted when it emerged that an environmental impact report for the European Bank for Reconstruction and Development was broadly favourable.

Daily Telegraph: Grounds to appeal Nigerian Fine

Database Legal • London's plan to provide wireless networking throughout the City may expose companies to security breaches and legal action, lawyers believe. • Former Morgan Crucible chief Ian Norris lost his legal challenge to Britain's extradition arrangements with the US. • Royal Dutch Shell said it believes it has “strong grounds” to appeal a [...]

Reuters: Shell Canada suspends production at oil sands mine

CALGARY, Alberta (Reuters) – Shell Canada Ltd. (SHC.TO: Quote) has halted production at its Muskeg River oil sands mine to repair a conveyor belt that was damaged on Friday, the company said. The Calgary-based firm said bitumen production at the mine, which supplies feedstock to the Scotford upgrading refinery near Edmonton, Alberta, won't be restarted [...]

The Guardian: Shell told to pay Nigerians $1.5bn pollution damages

· Oil giant will appeal against court decision · Kidnap and sabotage cripple production Rory Carroll, Africa correspondent Saturday February 25, 2006 A Nigerian court yesterday ordered Royal Dutch Shell to pay $1.5bn (£858m) in damages for polluting the Niger delta, a fresh blow to the company which was already reeling from a kidnap crisis [...]

The Times: Sakhalin: application could be turned down

A report published by the European Bank for Reconstruction and Development today said Shell's plans for oil and gas pipelines in eastern Russia had environmental shortcomings. Reuters reported. The bank is considering whether to extend a loan to the Shell-led Sakhalin Energy consortium for the $20 billion Sakhalin-2 project. The application could be turned down [...]

The Times: $1.5bn Shell Nigeria fine upheld

By Rhys Blakely and agencies The Nigerian Federal High Court today ordered Shell, the Anglo-Dutch oil company, to pay $1.5 billion (£859m) to the Ijaw people of the country’s Bayelsa region. The Ijaw were first made the award in 2000 for environmental damage to their homeland in the Niger Delta through Shell’s oil exploration. Shell [...]

BORNEO POST: MHS helicopter catches fire, aborts take-off

“The ill-fated Super Puma was airlifting 11 employees of Shell and its contractors when it ran into trouble and crashed into the South China Sea during a routine flight to the offshore gas production platform B11 in Bintulu waters at noon.” Published by ShellNews.net  24 February 2006 FROM THE BORNEO POST By Philip Kiew and [...]

The Guardian: Shell linked to £2bn takeover of wind turbine firm

· Shares in Vestas rise 6% on rumours of symbolic step · Move comes amid rising interest in green energy Terry Macalister Friday February 24, 2006 The oil major Shell was linked yesterday to a possible $3.5bn (£2bn) takeover of a leading wind turbine manufacturer, adding to the excitement around the alternative energy sector. The [...]

BBC NEWS: Shell told to pay Nigeria $1.5bn

A Nigerian court has ordered oil multinational Shell to pay $1.5bn to the Ijaw people of the Delta region. The Ijaw have been fighting since 2000 for compensation for environmental degradation in the oil-rich region. They took the case to court after Shell refused to make the payment ordered by Nigeria's parliament. Ijaw militants have [...]

MarketWatch: Shell told to pay Niger Delta's Ijaw people $1.5B in compensation

(Updates item published at 1314 GMT with comments from Shell) LONDON (MarketWatch) — A Nigerian court has ordered oil multinational Royal Dutch Shell PLC (RDSB.LN) to pay $1.5 billion to the Ijaw people of the Niger Delta region, the BBC reports on its Web site Friday. The Ijaw have been fighting since 2000 for compensation [...]

Daily Telegraph: Top 10 questions for this year's agm

TheHopeReport Well, here we go again. It's the time of year when the chairmen of some of our biggest companies prepare to face their shareholders at this year's annual meeting in the next 12 weeks. Those of us who cling to the belief that shareholder democracy is still alive at UK plc attend these meetings [...]