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Posts from ‘August, 2006’

KBTV4: Motiva Refinery Back Up After Power Loss

( Air Date: 8/31/2006 ) Shell Oil Company said Thursday its 285,000 barrel-per-day joint-venture refinery in Port Arthur, was back up after losing power Wednesday. The plant, owned by Motiva, a joint venture between Royal Dutch Shell`s (RDSa.L: Quote, Profile, Research) Shell Oil and Saudi Refining, suffered a power outage for a short time after […]

By Alfred Donovan Visitors may have wondered why service on our sister website is often interrupted for days at a time by a notice which states: – “ERROR:  This blog is on hold because its bandwidth has been exceeded. Please contact your blog provider.” If you want to know the reason why, please visit the following website […]

RIA Novosti: Russia’s environmental watchdog probes Sakhalin Energy violations

17:36 | 31/ 08/ 2006  MOSCOW, August 31 (RIA Novosti) – Russia’s environmental protection agency has completed the first part of a comprehensive audit of Sakhalin Energy activities under the massive Sakhalin-II energy project off the country’s Pacific coast, the agency said Thursday. The Federal Service for the Oversight of Natural Resources started the inspection […]

Yahoo! News: Regulators approve Shell Canada upgrader expansion

CALGARY, Alberta (Reuters) – Alberta regulators have approved a 100,000 barrel-per-day expansion of Shell Canada Ltd.’s Scotford upgrading refinery, part of a planned oil sands project that could cost up to C$12.8 billion ($11.9 billion). The Alberta Energy and Utilities Board gave Shell Canada the green light to proceed with construction at the upgrading refinery […]

Bloomberg: Russia may open a criminal case against Shell Project

31 Aug 2006 Russia may open a criminal case against Royal Dutch Shell Plc’s Sakhalin-2 project because of “numerous” environmental violations, the country’s Natural Resources Ministry said. Oleg Mitvol, the deputy head of Russia’s environmental inspectorate, is ready to provide material from a recent inspection to the Prosecutor General’s office, the ministry said in […]

AFX Europe (Focus): Nigerian oil workers to begin ‘warning strike’ Sept 13 over unrest

AFX Europe (Focus) Published: Aug 31, 2006 LAGOS (AFX) – Nigeria’s two main oil workers unions will begin a three-day warning strike on Sept 13 in protest against a wave of kidnappings and violence in the Niger Delta, a union official said. The national executive committees of the National Union of Petroleum and Natural Gas […]

The Times: Former Shell chief is pleased but he may sue his accusers

August 31, 2006 SEC drops investigation of Watts By David Robertson   THE world’s leading financial regulators have concluded that nobody is to blame for Shell’s overstatement of its oil reserves, after the US Securities and Exchange Commission (SEC) dropped its investigation of Sir Philip Watts. Sir Philip, the former executive chairman of Shell, is […]

The Hindu News: Shell technology to begin operations in Bangalore

Houston, Aug. 30 (PTI): Shell Technology India (STI) that will deliver high-end technical studies, project management and technical services to companies across the globe will become operational in Bangalore from September this year and plans to go on a massive recruitment drive in the country. “By the end of 2006 we hope to have 200 […]

The Times: nobody is to blame for Shell’s overstatement of its oil reserves…

Need to Know: Financial regulators have concluded that nobody is to blame for Shell’s overstatement of its oil reserves after the US Securities and Exchange Commission dropped its investigation of Sir Philip Watts, Shell’s former chairman. The UK’s Financial Services Authority reached the same conclusion last November. The Dutch authorities also decided to take no […]

Financial Times: Shell investors can lay the reserves scandal to rest US watchdog takes no action on Watts

By Andrew Hill Published: August 31 2006 03:00 | Last updated: August 31 2006 03:00 In the midst of Shell’s investigation into its reserves crisis, in April 2004, Lord Oxburgh, then chairman of Shell Transport and Trading, said “human failings, not structural deficiencies” were to blame for the problems. At the time, it seemed more […]

Financial Times: Ousted Shell chairman off SEC’s hook

By Carola Hoyos Published: August 31 2006 03:00 | Last updated: August 31 2006 03:00 The US Securities and Exchange Commission has decided not to take action against Sir Philip Watts, the ousted chairman of Royal Dutch Shell, the energy group. The decision ends the regulator’s two-year investigation into the role Sir Philip played in […]

Daily Telegraph: Browne’s annus miserabilis at BP is not over

By Christopher Hope (Filed: 31/08/2006) The Texas explosion investigation, allegations of market rigging and huge oil leaks are making life tough, says Christopher Hope Some time in the next few months, a clutch of lawyers from Texas are due to arrive at BP’s plush headquarters in London’s St James’s Square looking for the company’s chief […]

Daily Telegraph: Big oil in big trouble as BP faces working over by US

EXTRACT: He was able to show that he relied on Shell’s reserves reporting process which was transparent and involved experts who believed it to comply with SEC rules; that he relied on Shell’s external auditors who followed procedure, reviewed relevant reserves and did not object to Shell’s proved reserves submissions to the SEC; and finally […]

Daily Telegraph: US regulator clears ex-Shell boss

By Alistair Osborne, Business Editor (Filed: 31/08/2006) After a two-year investigation, SEC tells Sir Philip Watts it won’t take any action regarding oil reserves overbooking scandal. America’s financial regulator has decided not to take any action against former Shell chairman Sir Philip Watts over the oil and gas reserves overbooking scandal in 2004, which cost […]

The New York Times: S.E.C. Will Take No Action Against Former Chief of Shell

By DOW JONES/THE ASSOCIATED PRESS Published: August 31, 2006 By Dow Jones/AP The Securities and Exchange Commission has decided to take no action against Sir Philip Watts, the former chief executive of Royal Dutch Shell, over the 2004 scandal involving the overbooking of oil reserves, the law firm representing him said yesterday. The S.E.C., which conducted […]

The Independent: SEC clears Watts over Shell reserves scandal

By Michael Harrison, Business Editor Published: 31 August 2006 Sir Philip Watts’ two-year battle to clear his name ended in victory for the former Shell chairman yesterday after the US Securities and Exchange Commission decided not to take any action against him over the oil giant’s reserves reporting scandal. The decision marks the end of […]

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