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Posts from ‘March, 2006’ Boxer Corrects Oil Industry's Inaccurate Statements for the Record

By: Boxer office Published: Mar 31, 2006 at 07:54 U.S. Senator Barbara Boxer (D-CA) today sent a letter to the National Petrochemical and Refiners Association correcting inaccuracies in the document they submitted to the Environment and Public Works Committee regarding the oil industry's use of MTBE. Following is the text of Senator Boxer's letter to […]

Forbes/AFX News Limited: Nigerian troops clash with militants in restive oil region

03.31.2006 LAGOS (AFX) – Nigerian troops engaged separatist militants in a fierce gun duel in the swamps of the Niger Delta, leaving some fighters dead, an army spokesman said. 'Our men were attacked during a patrol operation in the area. We fought back and some of the aggressors were killed. The army recorded no casualties,' […]

MarketWatch: India government says 72 cos attend Houston oil, gas block roadshow

Last Update: 11:43 AM ET Mar 31, 2006 NEW DELHI (MarketWatch) — As many as 72 international companies, including global energy majors – ExxonMobil Corp. (XOM), Chevron Corp. and Royal Dutch Shell PLC participated in a roadshow at Houston showcasing India's latest oil and natural gas exploration blocks, the Indian government said in a statement […]

Xinhua, China: CNOOC-Shell petrochemical project goes into production 2006-03-31 20:30:39 HUIZHOU, Guangdong, March 31 (Xinhua) — China National Offshore Oil Corporation (CNOOC) announced on Friday that its huge petrochemical project, a joint venture with Royal Dutch Shell, off the South China Sea has begun formal production. Located in Huizhou city of souch China's Guangdong Province, the project is one of the largest […]

Seattle Post Intelligencer: Wash. Website owner wins free speech case

By DONNA GORDON BLANKINSHIP ASSOCIATED PRESS WRITER SEATTLE — The state Supreme Court ruled Thursday a trial judge overreached his authority when he restricted a man from posting information on a Web site. Paul Trummel was jailed for more than three months in 2002 in his free-speech standoff with the judge over the Web site […]

Itar-Tass: Russian shipbuilders receive order for Sakhalin shelf work vessels

RUSSIA 31.03.2006, 10.09 YUZHNO-SAKHALINSK, March 31 (Itar-Tass) — Russian shipbuilders have received an order for the first time to build vessels for work on the Sakhalin shelf. Two moorage boats will be built at the Zvezda plant in the Primorsky Territory and two reinforced icebreaking port tugboats at the Admiralteiskiye Verfi shipyard in St. Petersburg, […]

AP Worldstream: Dutch economics minister to visit Libya for oil and gas talks

Mar 30, 2006 Economics Minister Laurens Jan Brinkhorst will go to Libya next week to negotiate gas and oil agreements, in the first high-level visit by a Dutch official since Colonel Moammar Gadhafi took power in 1969, the ministry said Thursday. During the April 5-6 trip, Brinkhorst hopes to “intensify business and political relations with […]

Business News Americas: Shell to decide BS-4 fate by year-end – Brazil

( – Anglo-Dutch oil company Shell (NYSE: RDS-B) will have to decide this year whether to announce commercial feasibility or hand back to Brazilian authorities the BS-4 offshore block in the Santos basin where it is operator, the company's Brazilian operations E&P VP John Haney told reporters during the Latin Upstream seminar in Rio de […]

AP Worldstream: Crude futures fall below US$67 a barrel on slight profit-taking

Mar 31, 2006 Crude oil prices retreated Friday as traders took profits following continuous gains over the last three sessions due to strong demand for fuel and falling U.S. gasoline inventories. Light, sweet crude for May delivery fell 27 cents to US$66.88 a barrel in Asian electronic trading on the New York Mercantile Exchange midmorning […]

AP Worldstream: Venezuela takes on Exxon Mobil as it squeezes oil industry

NATALIE OBIKO PEARSON Mar 31, 2006 Venezuela had a blunt message this week for Exxon Mobil Corp., one of the world's most powerful oil companies: get off my crude-rich turf. Venezuela is tightening its squeeze on the oil industry, telling oil companies to give the state a greater share of profits – or get out. […]

AFX Europe (Focus): Australia's Woodside resolves dispute with Mauritanian govt

Mar 31, 2006 SYDNEY (AFX) – Woodside Petroleum Ltd said it has resolved a dispute with the Mauritanian government over amendments to four offshore production contracts operated by the company's wholly-owned subsidiary Woodside Mauritania Pty Ltd. The company, 34 pct owned by the Royal Dutch Shell group, said an agreement in principle to settle the […]

Financial Times: Nokia raises outlook for global sales

By Päivi Munter in Stockholm and Mark Odell in London Published: March 31 2006 03:00 | Last updated: March 31 2006 03:00 Nokia yesterday significantly raised its outlook for the global mobile market, saying it would grow by 15 per cent or more this year, which would mean shipments of about 914m handsets. The Finnish […]

Inner City Press: Iraq's Oil to be Metered by Shell, While Basrah Project Remains Less than Clear

BYLINE: Matthew Russell Lee, Inner City Press U.N. Correspondent UNITED NATIONS, March 30 — From Iraq's Mission to the UN, there's finally an answer to the months-old oil metering mystery. Shell has been given the contract, and it will take from one to two years to implement. How the accountability of oil flows and sales […]

THE NEW YORK TIMES: Price of Oil Trades Near $67 Per Barrel

By THE ASSOCIATED PRESS Published: March 30, 2006 Filed at 2:06 p.m. ET WASHINGTON (AP) — The price of oil traded near $67 a barrel Thursday amid persistent supply disruptions in the Gulf of Mexico and Nigeria, a U.N. standoff with Iran over its nuclear program and growing demand in the U.S. despite rising energy […]

Financial Times: All-round gain offered

By Ross Tieman Compliance with legislation, regulations, directives and codes has never been more challenging. Though business conduct has always been constrained by law, today the volume of legislation and rules, and the pace of change, have increased so much that meeting the requirements has turned compliance into a corporate discipline in its own right. […]

Financial Times: Penalties: FSA flexes its muscles with tougher action

By Phil Manchester The Financial Services Authority, the UK regulator, is flexing its muscles. Since 2001, when it assumed new powers under the Financial Services and Markets Act 2000, the FSA’s Enforcement Division has handed out increasingly high penalties. In 2001-02, its first full year of operation under the new regulations, the FSA imposed fines […]

CNN Netscape News: Oil above $66 after Iran defies U.N. call

By Janet McBride LONDON (Reuters) – Oil climbed further above $66 on Thursday, toward its $70 record, after Iran rejected a U.N. Security Council demand that it halt uranium enrichment. “There's got to be a crunch point over Iran,” said Geoff Pyne, an independent oil analyst. “At the end of the day Iran is intent […] Nigeria: Ogoni Oil Spill Was Not Sabotage – Rivers Govt

This Day (Lagos) March 30, 2006 Posted to the web March 30, 2006 John Iwori Port Harcourt As the oil spill in Kegbara Dere community in Gokana Local Government area of Rivers State continues to generate ripples, the state government has ruled out sabotage, saying Shell made frantic efforts to contain its spread. Making the […]

RIA Novosti: Russia to build 4 tankers for Sakhalin II operator

12:42 | 30/ 03/ 2006 MOSCOW, March 30 (RIA Novosti) – Russia is expected to build four vessels to deliver oil and gas under the Sakhalin II energy project being implemented on Russia's Far Eastern island, the project operator said Thursday. The shipyard based in St. Petersburg, Russia's second biggest city, will build two ice-breaking […]

Daily Telegraph: Slump in petrol reserves oils the wheels as bid fever hots up

Lower-than-expected oil supply figures and renewed speculation of a bid for BG pushed London's oil stocks and the FTSE 100 higher. Strong trading in the oil majors underpinned a rise of 23.5 to 5959.2 in the blue chip index, offsetting falls for 40pc of the constituents. BG headed the top flight throughout the day, closing […]

AP Worldstream: Oil prices pull back after surging on U.S. data showing decrease in gasoline supply

Mar 30, 2006 Crude oil futures pulled back Thursday in early Asian trading after a 38-cent increase on the previous day on U.S. data showing a large decrease in domestic supplies of unleaded gas. Light, sweet crude for May delivery fell 35 cents to US$66.10 a barrel on the New York Mercantile Exchange, morning in […]

THE NEW YORK TIMES: The New Face of an Oil Giant

March 30, 2006 By JAD MOUAWAD If Rex W. Tillerson has his way, Exxon Mobil will no longer be the oil company that environmentalists love to hate. Since taking over as Exxon's chairman three months ago from Lee R. Raymond, his abrasive predecessor who dismissed fears of global warming and branded environmental activists “extremists,” Mr. […]

Guerrilla News Network: George W. Bush and Peak Oil: Beyond Incompetence

Praying for a miracle? By Richard Heinberg Is gross mismanagement of the nation's energy policy an impeachable offense? While it would be difficult to create an airtight legal case for impeaching George W. Bush based on his ignoring the very real threat posed by Peak Oil, nevertheless I believe that his actions—and inaction—in this regard […]

MarketWatch (USA): Indian official says interested in joining Sakhalin III project

Mar 29, 2006 LONDON (MarketWatch) — The Indian government is interested in participating in Russia's Sakhalin III oil and gas project through one of the country's state-run companies, a top Indian official said Tuesday. The Sakhalin II project, controlled by Royal Dutch Shell PLC (RDSB.LN), “is closed. On Sakhalin III, we are looking for opportunities,” […]

The Hindu (India): Cairn, Shell, BP among others to expand operations

New Delhi, March 29 (UNI): Top energy majors including Shell, BP, BG, Respol, BHP and Cairn have expressed their interest to expand their operations in Exploration and Production (E&P), distribution and marketing of natural gas, including city gas distribution network in India. Petroleum and Natural Gas Minister, Murli Deora, is currently in London for a […]

THE WALL STREET JOURNAL: Oil Jumps Above $66 a Barrel As Supply Jitters Spark Rally

By MASOOD FARIVAR March 29, 2006; Page C4 Crude futures smashed out of their recent trading range, rallying nearly $2 and closing above $66 a barrel for the first time since early February as supply worries heightened. The May crude delivery contract on the New York Mercantile Exchange rose $1.91 a barrel, or 3%, to […]

The Guardian: Carbon cop-out

With green issues a hot political topic, environmentalists were hoping Gordon Brown's budget would tackle climate change head on. It was certainly on the agenda, but John Vidal looks at the reality behind the rhetoric Wednesday March 29, 2006 For just a few hours last Wednesday, the broad British environmental movement toyed with the idea […]

THE NEW YORK TIMES: Oil Prices Settle at $66 Per Barrel

By THE ASSOCIATED PRESS Published: March 28, 2006 Filed at 5:12 p.m. ET WASHINGTON (AP) — Crude-oil futures leapt by almost $2 a barrel Tuesday, testing the upper-end of a recent trading range amid strong demand and worries about supply from Iran and Nigeria. The reported possibility of a labor strike in Norway, a major […]


Mar 29, 2006 TOKYO, March 29 Asia Pulse – Japan Energy Corp. has inked agreements with Showa Shell Sekiyu KK (TSE:5002) and Mitsui Oil Co. to procure 500,000 kiloliters of petroleum products annually from each beginning in April. Through fiscal 2005, Japan Energy purchased about 4.5 million kiloliters of petroleum products annually from Fuji Oil […]

THE NEW YORK TIMES: Experts: Fragile Economy Hampers Big Easy

By THE ASSOCIATED PRESS Published: March 28, 2006 Filed at 5:06 p.m. ET NEW ORLEANS (AP) — Most of Big Oil has returned to New Orleans since Hurricane Katrina, Mardi Gras got the city back in the tourism business and the skilled construction trades can't get enough workers. The city's population — 455,000 before Katrina […]

MarketWatch: Shell oil CEO says more offshore oil revenues for gulf states

Mar 28, 2006 CORPUS CHRISTI, Texas (MarketWatch) — U.S. states bordering the Gulf of Mexico should receive a larger share of oil and gas royalties collected from the federal offshore areas, Royal Dutch Shell PLC's (RDSB.LN) top U.S. executive said Tuesday. “We believe Congress should enact comprehensive (Offshore Continental Shelf) budget sharing legislation to appropriately […]

BLOOMBERG: Former U.K. Judge Says Justices Often Rule Without Expertise

March 28 (Bloomberg) — Hugh Laddie, the first London High Court judge to resign in 35 years, said he often ruled on tax or insolvency cases that he wasn't trained to hear because of the way the English legal system works. “It is neither efficient nor fair on litigants to run a system in which […]

Ros Business Consulting: Investment in Sakhalin-2 likely to increase

RBC, 28.03.2006, Yuzhno-Sakhalinsk. At a meeting in Yuzhno-Sakhalinsk on April 5, 2006, the Sakhalin-2 Supervisory Board plans to consider the increase in investment in the project from $11.5bn to $20bn, the Sakhalin regional administration reported. This meeting is also intended to approve the project's estimated expenditure for 2006 and discuss liquefied natural gas sales contracts, […]

New Europe: Gazprom, Shell mull SLF production in Russia

Gazprom and Royal Dutch Shell are looking at working together to produce synthetic liquid fuel (SLF, by gas-to-liquid (GTL) technology). Shell, Gazprom and VNIIGAZ are carrying out joint studies on the possibility of developing the GTL business in Russia, Maxim Shub, a spokesman for Shell in Russia, told Interfax. “Talks are at a very early […]

Houston Chronicle: Nigerian rebels act before Obasanjo and Bush meet

March 28, 2006, 1:55AM By LYNN J. COOK and KATHERINE HOURELD Copyright 2006 Houston Chronicle THREE oil-field workers, including a Houston-area man, who were held for 38 days by a rebel group in Nigeria were freed early Monday, just in time for President Olusegun Obasanjo's meeting in Washington this week with President Bush. An American […]

THE WALL STREET JOURNAL: Cnooc Profit Jumped 57% in '05

China Energy Titan Looks to Africa, Asia To Help Boost Output By ARIES POON March 27, 2006 HONG KONG — Cnooc Ltd., China's largest offshore oil producer by output, posted a 57% rise in 2005 net profit on soaring oil prices and increased production and said it will continue pursuing expansion overseas to help boost […]

THE WALL STREET JOURNAL: As Prices Surge, Oil Giants Turn Sludge Into Gold

New Reserves Total Leads Push in Canada To Process Tar-Like Sand; Toxic Lakes and More CO2 Digging It Up, Steaming It Out By RUSSELL GOLD March 27, 2006; Page A1 FORT MCMURRAY, Alberta — In February, engineers from French oil giant Total SA fired up colossal drum boilers to generate steam that will be pumped […]

Daily Telegraph: The world is his oyster: Jeroen van der Veer

(Filed: 27/03/2006) Jeroen van der Veer, Chief Executive Officier, Royal Dutch Shell Plc Family: married to Mariette, he has three daughters. Likes: golf (handicap is 16), skating the 200km Elfstedentocht ice marathon 1947: Born in Utrecht, the Netherlands. Two degrees: from Delft university (mechanical engineering) and Rotterdam university (economics) 1971: Joined Shell, working in the […]

THE NEW YORK TIMES: Riding High on a Tide of Oil

March 28, 2006 By CLIFFORD KRAUSS FORT McMURRAY, Alberta — Canada's wild west is going corporate. In the last big energy boom in this province, during the 1970's, the card room at the Calgary Petroleum Club was so full of Texas oilmen that seats at the poker table were rarely freed up until well into […]

THE NEW YORK TIMES: Editorial: Big Oil's Big Windfall

Published: March 28, 2006 A public already groaning under huge deficits does not need more red ink. An oil industry already rolling in record profits does not need more tax breaks. But both are sure to happen unless some way can be found to claw back from a decade's worth of Congressional and administrative blunders, […]

AP Worldstream: Oil prices rise further above US$64 amid strong demand and geopolitical uncertainty

Mar 28, 2006 Crude oil futures rose on Tuesday in early Asian trading amid strong demand and nagging worries about supply from Iran and Nigeria. Light, sweet crude for May delivery gained 9 cents to US$64.25 a barrel on the New York Mercantile Exchange. The contract on Monday fell 10 cents to settle at US$64.16 […]

Reuters: Oil holds at $64 as Nigeria attack worries remain

Tue Mar 28, 2006 8:39 AM GMT By Neil Chatterjee SINGAPORE (Reuters) – Oil prices steadied on Tuesday, weighed down by swollen U.S. crude stockpiles but held above $64 on threats of further attacks on facilities in Nigeria. U.S. light crude for May delivery traded six cents down at $64.10 a barrel by 0320 GMT, […]

The Guardian: Nigerian rebels free Briton but vow to fight on

XAN RICE NAIROBI Mar 28, 2006 Militants in the Niger delta released three kidnapped foreign oil workers yesterday – including a British security expert, John Hudspith – but gave warning of more attacks on multinational oil companies. Mr Hudspith and two Americans, Cody Oswald and Russell Spell, were handed over to government officials in Warri, […]

Financial Times: Delta militants release hostages

By Dino Mahtani in Lagos Nigerian militants released the last three of nine foreign oil workers taken hostage several weeks ago but threatened more destruction to the oil industry in the world’s eighth biggest exporter. The Movement for the Emancipation of the Niger Delta handed over two Americans and a Briton to government officials on […]

THE NEW YORK TIMES: Relieved Nigerian Leader Heads to U.S.

By THE ASSOCIATED PRESS ABUJA, Nigeria (AP) — Nigeria's president heads to Washington on a high note after the resolution of two issues of concern to his U.S. allies — the release Monday of kidnapped oil workers, including two Americans, and his agreement to hand over the continent's most infamous warlord. President Olusegun Obasanjo, a […]

THE NEW YORK TIMES: US and British Hostages Freed in Nigeria

By REUTERS WARRI, Nigeria (Reuters) – Nigerian militants freed three foreign oil workers on Monday after five weeks in captivity and said their fighters would now focus on crippling oil exports from the world's eighth largest supplier. The three men, two Americans and one Briton, were handed to the governor of Nigeria's southern Delta state […]

BBC NEWS: Trading on your reputation

By Jeremy Scott-Joynt BBC News business reporter Trust is a fragile thing. For companies as much as for individuals, it can be a slow, hard job to convince the world that you're safe to talk to, deal with or rely on. Then – in the blink of an eye – a chance event, or a […]

The Daily Yomiuri (Japan): 4,000 oil-coated birds wash up on Hokkaido / Endangered species fall victim to oil spills

The Yomiuri Shimbun The carcasses of more than 4,000 oil-covered wild birds have been found washed up ashore, including along the Shiretoko Peninsula, eastern Hokkaido, marking the worst disaster of its kind since the Russian tanker Nakhodka leaked oil in 1997, affecting about 1,300 seabirds. Part of the peninsula has been designated a UNESCO World […]

Motley Fool: Shell Shocks the Oil Sands

By Robert Aronen March 27, 2006 While Americans turned their attention to March Madness last week, Canadian papers were plastered with headlines about Royal Dutch Shell (NYSE: RDS-A) and its latest move in the oil sands. The headline-grabber up north was that Royal Dutch had paid $465 million Canadian (about $400 million U.S.) for leases […]

The Tide Online (Nigeria): SPDC oil pipes burst in Ogoniland

• Monday, Mar 27, 2006 A Shell Petroleum Development Company (SPDC) corked-up well at location two last Friday, burst, spilling oil to over five communities at Kpor in Ogoniland of Rivers State. The incident occurred as negotiations between Ogoni people and SPDC is about to commence on the resumption of oil production in the area. […]

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