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Posts from ‘July, 2006’

PRNewswire: Shell ‘Million Gallon Giveaway’ Promotion to Award Free Gasoline to More Than 200,000 Drivers

Six Lucky Winners Will Each Receive Lifetime Supply of Free Gasoline HOUSTON, July 31 /PRNewswire/ — Drivers nationwide who stop by their local Shell stations now have a chance to win free gasoline for life through the Shell “Million Gallon Giveaway.” Starting today and continuing through October 1, Shell will give away more than $2 […]

Accountancy Age: Shell project faces tax haven criticisms

Oil giant seeks financial support for troubled Sakhalin project from UK taxpayers Alex Hawkes, Accountancy Age, 31 Jul 2006 Shell is facing opposition in its attempts to raise finance for its overspent Sakhalin oil and gas project because the consortium behind it is based in a tax haven. The group, which is owned by Shell, […]

UpstreamOnline: Agip hostages ‘walk free’

EXTRACT: News of the Agip incident and of a Shell pipeline leak that shut down a further 210,000 bpd pushed world oil prices up last week. THE ARTICLE By Upstream staff Attackers have vacated an Agip oil pumping station in Bayelsa state in southern Nigeria and freed all hostages they were holding there after they […] Royal Dutch Shell Releases Proposal To Expand Athabasca Oil Sands Project

Monday, July 31, 2006; Posted: 02:23 AM    (RTTNews) – Royal Dutch Shell announced that Shell Canada has issued a formal proposal to proceed with Expansion 1 to the other Athabasca Oil Sands Project joint venture owners. The company stated that Shell Canada completed an extensive feasibility study followed by a rigorous cost estimate and […]

The New York Times: Oil Steady Above $73 on Mideast

EXTRACT: In Nigeria, the world’s eighth-biggest exporter, there was no apparent progress toward restoring the more than one-quarter of production shut in by militants, with attackers who closed an Agip pumping station last Tuesday still in talks. Royal Dutch Shell (RDSa.L) said it did not expect a significant recovery in output before the end of […]

The Guardian: The question: Which are the world’s most profitable firms?

By: JULIA FINCH, The Guardian – United Kingdom Published: Jul 31, 2006 Exxonmobil, BP, Royal Dutch Shell, Chevron, ConocoPhillips and Total – collectively they have always been known as Big Oil. But the recent rise in the oil price to around $74 a barrel has made them a whole lot Bigger. Exxonmobil – the world’s […]


Published: Jul 31, 2006 TEHRAN, July 31 Asia Pulse – International oil giant Shell will make its final decision on whether to invest in Phase 13 of South Pars gas field development project in 2007. According to Tehran based English-language newspaper Iran Daily in its Sunday edition, managing director of Pars Oil and Gas Company […]

Irish Times: Shell pipeline protesters walk to Dublin

By: Lorna Siggins, Marine Correspondent, Irish Times Published: Jul 31, 2006 Shell to Sea campaigners have set out on a walk to Dublin to highlight their concerns, and among walkers on yesterday’s second leg from Bellanaboy to Bellacorick was marathon runner Patricia Murphy, who had climbed Croagh Patrick first in the early hours of yesterday […]

MarketWatch: Chevron Nigeria: 23,000 barrels per day affected by pipeline attack

(This article was originally published Friday.) LAGOS (MarketWatch) — Chevron Nigeria, a unit of ChevronTexaco (CVX), says 23,000 barrels per day of its production are affected by a recent attack on a pipeline belonging to Shell Petroleum Development Company of Nigeria, but explained it has not declared force majeure on its commitments to buyers. “Our […]

Bloomberg: Shell, Exxon May Drill Off New Zealand in World’s Highest Waves

July 31 (Bloomberg) — Energy prices have risen so high that New Zealand is inviting Royal Dutch Shell Plc, Exxon Mobil Corp. and other natural gas producers to send rigs to one of the most inhospitable seas on Earth. Next month, New Zealand will seek bids to explore in the Great South Basin, off the […]

SAN DIEGO UNION-TRIBUNE: Gas stations repeatedly cited for air pollution

EXTRACT: ..regulators confronted Shell/Equilon officials after issuing a string of citations to its gas stations in 2000. Company leaders signed a legal agreement with the air district that year, promising to start an enhanced inspection and maintenance program. Since then, however, records show that the air district has cited Shell/Equilon 371 more times. Fines may […]

Niger Delta : An Open Letter To Oil Companies

EXTRACT: Since this is not going to be a very long letter I intend to address one of you who I assume is the most culpable of the lot. That is the British and Dutch oil interest known as Shell Petroleum Development Company. You are all guilty of the same offences to some degree but […]

The Wall Street Journal: More Earnings Roll In; Senate May Pass Energy Bill

EXTRACT: Oil Profits Gush: Exxon Mobil’s profit jumped 36%, to $10.36 billion, the oil company’s second-highest quarterly profit ever. Shell’s profit rose 40%, to $7.32 billion. BP’s earnings jumped 30%, to $7.27 billion as the firm unveiled measures to improve U.S. operations following safety and regulatory problems. Chevron reported an 18% rise in profit to […]

The Sunday Times: Return of the wildcat oilmen

July 30, 2006 Special Report Prospectors are scouring Africa and the US deserts in search of black gold. By Tarquin Hall     “FOLKS call me Cactus on account of a friend of my dad’s,” said Charles E Schroeder III, as he emerged from a Texas steakhouse where he had devoured an enormous plate of prime […]

The Sunday Times: Focus: Browned off (plan hatched last year for BP to merge with Shell)

EXTRACT: It was not the first time Browne and Sutherland had clashed. They also failed to see eye-to-eye over a tentative plan hatched last year for BP to merge with Shell. The potential mega-merger, which could have created a global energy giant worth more than £250 billion, was discussed between board members, but the idea […]

The Sunday Telegraph: The Friday night bombshell

(Filed: 30/07/2006) BP’s decision requiring him to step down as chief executive in 2008 came as a blow to Lord Browne. Sylvia Pfeifer describes the events leading up to the announcement and looks at the potential successors It never gets too hot in the Andalucian mountains in southern Spain, even during the brutal summer month […]

Houston Chronicle: Oil execs speak out

July 30, 2006, 12:07AM LYNN J. COOK Copyright 2006 Houston Chronicle John Hofmeister: President, Shell Oil Co. High prices, war in the Middle East and global warming concerns have transformed energy from a dull industry taken for granted by many Americans into a top-of-the-mind pocketbook issue for consumers. The Chronicle posed 10 questions to several […]

Chicago Tribune: Oil Safari: A Travelogue of Addiction

What does it take to quench America’s mighty thirst for gasoline? Pulitzer-winning correspondent Paul Salopek traced gas pumped at a suburban Chicago station to the fuel’s sources around the globe. In doing so, he reveals how our oil addiction binds us to some of the most hostile corners of the planet—and to a petroleum economy […] Shell oil company to decide on mullahs’ blood money in 2007

International oil giant Shell will make its final decision on whether to invest in Phase 13 of South Pars gas field development project in 2007. Mullahs’ Managing Director of Pars Oil and Gas Company Akbar Torkan said the final investment decision (FID) on Phase 13 of South Pars gas field which pertains to Shell will […]

Taipei Times: Oil prices down on slower US growth, slack demand fears

EXTRACT: The market was still feeling the ramifications after Royal Dutch Shell declared force majeure on crude deliveries from Nigeria’s Bonny oilfield for this month and next. The move means contracts might not be honored during those two months. THE ARTICLE AFP , NEW YORK Sunday, Jul 30, 2006,Page 10 Advertising Oil prices slumped on […]

Edmonton Journal (Canada): Athabasca Oil Sands gears up for major expansion

By Gordon Jaremko, CanWest News Service EDMONTON — Alberta’s youngest oilsands mega-mine set out Friday to grow briskly by 65 per cent even though expansion costs have skyrocketed. About 6,000 to 7,000 construction workers will build a 100,000-barrels-a-day addition to the Athabasca Oil Sands Project over the next four years on a schedule laid out […]

The Observer: Shell’s Bermuda arm seeks money from UK taxpayers

Nick Mathiason Sunday July 30, 2006 The Shell-owned consortium behind the $20bn oil and gas project in Sakhalin off the east coast of Russia is seeking UK taxpayers’ money to help pay for the scheme, even though it is based in the tax haven of Bermuda. Campaigners are demanding the Export Credits Guarantee Department deny […]

Sunday Business Post (Ireland): Corrib: Does David need Goliath?

30 July 2006  By Richard Curran The growing momentum to solve the issues over the Corrib gas field might see the multi-billion-euro project actually move forward sometime soon. The publication of the report by the mediator in the dispute, Peter Cassells, into finding a solution may not in itself fix the problems but it is […]

The Sunday Times: Shell set to reroute pipeline

July 30, 2006 Stephen O’Brien   SHELL is to announce within two weeks that it is prepared to reroute the Corrib gas pipeline in Mayo, in an attempt to end the local protests that have stymied the €900m project. The state-owned Bord Gais is expected to become involved in the selection of a new route […]

Petroleum News: Total, Hess confirm deepwater Gulf finds

EXTRACT: Last November Total began to expand its deepwater Gulf of Mexico position in a “like kind” exchange with Shell Exploration & Production. Under the agreement, Total would convey its interests in four onshore fields in South Texas for Shell’s 17 percent interest in the deepwater Tahiti field, among the largest finds in the Gulf […]

Petroleum News: BP’s Browne to step down: “Shell a target?”

EXRACT: Shell a target?: According to Britain’s Financial Times and other publications, Browne had an even bigger transformation up his sleeve — a merger with arch-rival Shell. Just how serious that plan ever became isn’t clear. It appears the idea was brought up to Shell leaders in the second half of 2005 and didn’t gain […]

Petroleum News: Scattering some of the oil sands gloom

By Gary Park Imperial Oil-ExxonMobil Canada, a Shell Canada-led partnership and Husky Energy are pushing ahead with various aspects of large-scale oil sands projects, taking the high road during a time of accumulating negatives. The joint effort by the ExxonMobil sister companies involves the 300,000 barrel per day Kearl project that carries an initial cost […]

Live Chat: Jeroen van der Veer: Why does he not step down himself and admit he was not up to the task?

Guest 2770: 28 July 2006 Shell Shocked: “This company has been losing ground now for many years, and I don’t like that,” says Jeroen van der Veer, the 58-year-old chief executive. “I didn’t see the reserves crisis as something isolated–no, I think the whole company was losing ground. We knew it, but we kept on […]

The New York Times: Chevron, Like Its Rivals, Reports Higher Profits Amid Global Concerns

By CLIFFORD KRAUSS Published: July 29, 2006 Chevron reported yesterday that its second-quarter earnings climbed by 18 percent, marking the company’s highest profit for any three-month period. But the results paled next to the earnings announced this week by other large oil companies, and Chevron’s stock price dropped substantially on a day when American markets […]

Irish Independent: Judgment reserved over Shell leak row

Published: Jul 28, 2006 THE High Court has reserved judgment in a multi-million claim for damages by a county council against energy giant Shell. The legal action followed the leakage of petroleum products from a Shell petrol station which halted construction of new civic offices in Trim, Co Meath. Damages estimated at between 5m-6m are […]

Irish Times: Shell says gas partners will ‘respond positively and in full’ to report

By: Lorna Siggins, Irish Times Published: Jul 29, 2006 Shell E&P Ireland has said that the Corrib gas partners will “respond positively and in full” to the report on the Corrib gas pipeline published yesterday by Government mediator Peter Cassells. In its strongest indication yet that it would review the high-pressure pipeline’s onshore route, the […]

The Wall Street Journal: Exxon Profit Leaps, Adding Fuel to Political Fire

EXTRACT:  Meanwhile, Shell is in talks with the Securities and Exchange Commission about whether reserves held in gas-to-liquids projects should be booked under the regulator’s rules, Chief Executive Jeroen van der Veer said Thursday. The issue of booking is sensitive for Shell, which was forced to restate reserves fives times in 2004 and 2005.  Net Tops […]

The Wall Street Journal: Oil News Roundup: July 28, 2006 7:36 p.m.

THE WALL STREET JOURNAL ONLINE Crude-oil futures tumbled by more than $1 a barrel, settling at $73.20 on the New York Mercantile Exchange, on renewed hopes of a resolution of the violence in the Middle East. Here is Friday’s roundup of energy-related news: * * * CHEVRON’S MISS: Chevron did its part to dissipate some […]

Gulf Times, Qatar: Shell says plant cost could triple to almost $18bn

By Andy Critchlow & Stephen Voss DUBAI: Royal Dutch Shell, Europe’s second-biggest oil company, yesterday said the Pearl GTL project may cost as much as $18bn, triple earlier estimates. The project will cost $4 to $6 per barrel of oil equivalent to produce, The Hague-based Shell said yesterday in a statement. The venture is expected […]

Toronto Star: Shell Canada plans to expand in oil sands despite rising bill

Jul. 29, 2006. 01:00 AM CALGARY—Shell Canada Ltd. aims to proceed with expanding its oil sands mining operation despite surging costs, and has given its partners 90 days to respond to its proposal, it said yesterday. Shell Canada, which owns 60 per cent of the Athabasca Oil Sands Project, said it believes boosting the production […]

Daily Telegraph: Database: Energy: 29 July 2006

• British Nuclear Fuels, the UK government’s nuclear services company, stopped production at Unit 4 of its Wylfa nuclear plant. • Interconnector (UK), owner of a natural gas pipeline linking England and Belgium, will export the fuel from mainland Europe into the UK starting tomorrow to meet demand. • Royal Dutch Shell, Europe’s second largest […]

Dow Jones Newswires: Shell Books $500 Million Charge On Yet-To-Settle Class Actions-2

Shell said the provision was in connection with the putative shareholder class actions filed in the United States District Court for the District of New Jersey. A Shell spokeswoman said the class actions were two separate action filed in the U.S. on behalf of foreign and U.S. shareholders. In January, Stichting Pensioenfonds ABP and 25 […]

Bloomberg: Shell Says Athabasca Project May Cost C$12.8 Billion (Update3)

July 28 (Bloomberg) — Shell Canada Ltd., the country’s fourth-largest oil company, said costs to expand an oil-sands venture will rise 75 percent to as much as C$12.8 billion ($11.3 billion) on higher equipment and labor costs. A boom in oil-sands projects in Alberta has raised all facets of expanding the Athabasca Oil Sands Project, […]

Daily Star: Shell’s £270m law bill

ROYAL Dutch Shell has set aside £269 million in an attempt to settle a massive lawsuit in America. The class action relates to the reserves scandal that rocked the company two years ago. A settlement would finally draw a line under the debacle, when the company admitted 3.9 billion barrels of oil had been overbooked. […]

The Independent: Exxon makes history as revenues exceed $1bn a day

Rising prices help oil giants pump out massive profits Royal Dutch Shell earnings soar to £3.4bn. Exxon makes history as revenues exceed $1bn a day By Gary Parkinson, City Editor Published: 28 July 2006 Two of the world’s biggest oil companies posted massive profits yesterday on the back of soaring oil prices, making $16bn (£8.6bn) […]