Posts on ‘July 28th, 2006’

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 [...]

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, [...]

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. [...]

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) [...]

Fri Jul 28, 2006 2:32 PM GMT � ABUJA (Reuters) – The Nigerian arm of Royal Dutch Shell has started work on repairing a pipeline where a leak has forced the shutdown of 210,000 barrels per day (bpd) in oil output, a spokesman said on Friday. Shell is losing 180,000 bpd because of the leak [...]

A laugh for the weekend… For adults only Malcolm Brinded spoof

KEITH FINDLAY 27 July 2006 � A Union leader yesterday called for a thorough inquiry into the role of the Health and Safety Executive (HSE) on North Sea oil and gas platforms. Graham Tran, regional officer for Amicus, claimed the HSE had neither the resources nor the independence it needed to improve and police safety [...]

Trade unions have held a meeting with health and safety officials in Aberdeen to discuss concerns about the offshore industry. The talks followed a report into the deaths of two workers on Shell’s Brent Bravo platform in which a sheriff criticised the company. The Oil Industry Liaison Committee, Transport and General Workers Union and the [...]

MENAFN – 28/07/2006�� �� (MENAFN) Qatar Petroleum and Royal Dutch Shell announced they would proceed with the Pearl gas-to-liquids (GTL) project, an integrated development, transport and processing hub for Qatar North Field gas resources, Gulf News reported. Just months ago the status of the project was cast in doubt amid rising costs worldwide for oil [...]

28/07/2006 – 08:34:04� The man appointed by the Government to mediate between Shell and the Rossport Five has recommended that the Corrib gas pipeline be re-routed. Former trade union leader Peter Cassells was appointed in an effort to find a solution to the long-running dispute, which saw the five Co Mayo men spend more than [...]

28 July 2006 Doing well: The oil giant�s rising fortunes have been prompted by the soaring price of crude By Brian O’Connor � ROYAL Dutch Shell put a �270m price on settling a US legal action over the reserves scandal two years ago. This is just an accounting provision, but signals its readiness to sort [...]

Jim Armitage, 28 July 2005 SHELL’S profits surged by more than a third in the first half of the year, thanks to record oil prices. With crude currently hovering around $60 a barrel, the company enjoyed profits of $10.2bn (�5.8bn) – up 39% on the same period last year. Shell is not alone in enjoying [...]

From “Live Chat” 28 July 2006: EXTRACT: “Production down, reserves down, merger rumours, white elephants in Qatar, and expropriation of Sakhalin…are we witnessing the death throes of Shell? ” THE ARTICLE Extract from “Live Chat” posted on Thursday 27 July 2006 RoyalDutchShellPlc : We can see that people are getting hooked on this site. When [...]

We recently became aware from Shell insiders of a treasure trove of emails from a former, highly respected senior Shell manager, �Hans� Bouman”. His emails have been�widely circulated as collector items by Shell insiders because of their outspoken, prophetic�and eloquent content, often on controversial subjects. Printed below is one kindly supplied to us a few [...]

UK watchdog issues notice to supermajor over rusting stairwells By Upstream staff The UK’s offshore watchdog has served a safety notice on Shell after discovering serious corrosion problems on stairwells in the Brent Bravo utility leg in the UK North Sea, many of which had been first identified in an internal inspection report six months [...]