Posts on ‘July 7th, 2006’

Jon Harding, Financial Post Canada Published: Friday, July 07, 2006 CALGARY – Concerns about rising costs related to oilsands development in Alberta have been building for months, but a warning issued by Western Oil Sands Inc. is the first tangible evidence some projects and expansions might have trouble getting off the drawing board. The partner [...]

Race to the world’s energy hotspots: Scramble for oil: Money no object as the big players grab what is left of a diminishing resource By: TERRY MACALISTER, The Guardian – United Kingdom Published: Jul 07, 2006 The decision by Sinopec of China to pay $1bn for the right to explore for oil in deep water [...]

From Reuters ‘This is what my father lived and died for. He believed in Nigeria’ ABUJA, Nigeria (Reuters) — A decade after Ken Saro-Wiwa was hanged by Nigeria’s military junta over his struggle for the rights of the Ogoni people, his son says he is ready to take up his father’s legacy — in the [...]

FROM THE WALL STREET JOURNAL: Breaking Views July 7, 2006 Rosneft is getting a hard time from institutional investors. They’re grumbling that the Russian oil giant is demanding too much for its shares. So why doesn’t Rosneft just cut them out of the deal? After all, the shares are also being offered to strategic investors [...]

From AP Worldstream By: WILLIAM NSOYOH, Published: Jul 07, 2006 YENAGOA, Nigeria _ Armed men have kidnapped a Dutch oil worker in Nigeria’s chaotic southern delta, police said, the second hostage-taking in less than a day in a region where regular raids continue to destabilize oil production. Nigerian police said the assailants arrived Thursday at [...]

FROM THE WALL STREET JOURNAL Strategic Investors Would Bolster Deal; Will Abramovich Buy? By ALISTAIR MACDONALD in London and GREGORY L. WHITE in Moscow Staff Reporters of THE WALL STREET JOURNAL July 7, 2006; Page C2 The efforts by Russian oil company OAO Rosneft to enlist strategic investors in its coming initial public offering could [...]

From The WALL STREET JOURNAL ONLINE July 6, 2006 7:00 p.m. Oil futures briefly swooned after the U.S. government reported an unexpected increase in gasoline inventories, but recovered most of their losses to settle at more than $75 a barrel, near their record high. Here is Thursday’s roundup of oil and energy news. STILL WARY [...]

From The Financial Times By Joanna Chung Published: July 7 2006 03:00 | Last updated: July 7 2006 03:00 Sizeable orders from oil companies as strategic investors have helped Rosneft, the Russian oil group, attract enough demand to cover the minimum $8.5bn (£4.6bn) out of the total $10bn to $11.7bn it is seeking from its [...]

From The Financial Times By Bernard Simon in Toronto Published: July 7 2006 03:00 | Last updated: July 7 2006 03:00 Labour shortages and soaring equipment costs have raised a question mark over the future of one of northern Alberta’s biggest oilsands projects, controlled by Royal Dutch Shell. Shell’s Canadian unit and Western Oil Sands, [...]

The Vancouver Sun James Stevenson, Canadian Press Fears growing in wake of expected 50% cost increase at Shell oilsands plant  CALGARY (CP) – Fears that cost pressures have spiralled out of control in the northern Alberta oilsands spooked investors Thursday in the wake of news that Shell Canada’s (TSX:SHC) Athabasca oilsands project could potentially pay [...]