Posts on ‘June 1st, 2006’

06.01.2006    PARIS (AFX) – Total SA said the first exploration well drilled in the Dissoni offshore block of Cameroon has found oil, adding that further appraisals will be carried out to determine the field’s potential. Total is the operator of the block with a 50 pct stake, alongside Royal Dutch Shell PLC’s Pectan unit. [...]

June 1, 2006 CARACAS (MarketWatch) Syria aims to maintain it petroleum output at around 400,000 barrels of oil equivalent a day in the years ahead by awarding new exploration blocks and raising recovery from existing fields, the country’s petroleum minister said Wednesday. Speaking ahead of an Organization of Petroleum Exporting Countries meeting here, Sufian al-Alao [...]

Russia: 20:10 | 01/ 06/ 2006 MOSCOW, June 1 (RIA Novosti) – Sakhalin-II project’s supervisory board approved a program and financial plan for 2006 totaling $2 billion, the energy ministry said Thursday. The plan for the ambitious energy project to supply liquefied natural gas to Japan, Korea and the United States, was adopted in accordance [...]

By Sergei Blagov Thursday, June 1, 2006 Moscow and Beijing have long hailed regional cooperation as an important element of bilateral ties. While meeting Volgograd Governor Nikolai Maksyuta on May 27, Wu Bangguo, chairman of the Standing Committee of China’s National People’s Congress (NPC), noted that the Volgograd region has enjoyed successful cooperation with China’s [...]

06.01.2006 LAGOS (AFX) – A major oil spill has forced Royal Dutch Shell PLC to cut production by 50,000 barrels per day in southern Nigeria, a company spokesman said. newsdesk@afxnews.com afp/cml  

By Spencer Swartz, Dow Jones Newswires   LONDON Royal Dutch Shell PLC (RDSA) said Wednesday it has found around 3 billion cubic meters of natural gas, or 18 million barrels of oil equivalent, in two North Sea blocks. The Anglo-Dutch company said in a statement it planned to develop the gas finds, in the southern North [...]

Chairman of Senate Energy and Natural Resources says oil shale could be in commercial production within a decade Thursday, June 01, 2006 By SALLY SPAULDING and GARY HARMON Oil shale is going to turn out to be “a solid gold investment,” Sen. Pete Domenici, R-N.M., said to members of Club 20 and Associated Governments of [...]

MISSION COSTING HIM HIS HOME, LIVELIHOOD By Ken McLaughlin Like many Californians these days, Mehdi Shahbazi rails against Big Oil cartels, price gouging and the pain consumers feel at the pump. But Shahbazi is different: He’s a gasoline dealer on a personal mission. Shahbazi is also going broke because of a long-running battle with Shell [...]

PORT ARTHUR — The general manager of a local refinery will soon be moving up the corporate ladder. Tom Purves, manager of the Motiva Enterprises refinery in Port Arthur, has been named vice president of manufacturing operations for the Americas. According to a press release from Motiva, Purves will begin the new position on July [...]

By Gargi Chakrabarty, June 1, 2006 MEEKER – U.S. Sens. Pete Domenici and Ken Salazar toured a private patch of land in Rio Blanco County on Wednesday to get a first- hand look at an ambitious and proprietary oil-shale project that might one day reduce the country’s dependence on foreign oil. Energy behemoth Shell has [...]

• Royal Dutch Shell is among the companies that are in talks with Syria to explore for oil, as the country seeks to halt a 10-year decline in output, the nation’s oil minister said. • AES, a US energy company with plants in the UK, will spend $325m (£172m) within five years on a venture [...]

By Keith Woolcock (Filed: 01/06/2006) The truth, poet Wallace Stevens wrote, depends upon a walk around the lake. Lakes are thin on the ground in London but, over the past few weeks, as markets pitch and slide, I have, on several occasions, taken the Northern Line to Hampstead. Once there, I head to my favourite [...]

Lee Raymond, the chief executive of Exxon Mobil, has bowed out from the oil giant with a $400m pay and retirement deal that has caused outrage among environmentalists. In his 12 years at the top of the company, Exxon has pumped an estimated six billion tons of carbon into the atmosphere and has led the [...]

The price of crude oil continued to gyrate Wednesday, skidding 74 cents to $71.29 on the New York Mercantile Exchange, as worries about geopolitical tensions and potential oil-supply disruptions eased a bit after the U.S. offered conditions for talks with Iran. Here is today’s news roundup on oil and energy. * * * UNREST AT [...]

(BNamericas.com) – Anglo-Dutch energy major Royal Dutch Shell (NYSE: RDS-B) still has “hopes” of taking part in either the Mariscal Sucre offshore gas E&P project in Venezuela or the new blocks to be offered off the country’s eastern coast as well as in a project to upgrade extra-heavy Orinoco crude, newspaper El Universal reported Shell [...]