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Posts on ‘August 11th, 2006’

UpstreamOnline: Senate backs end to royalty relief

By Upstream staff Approval to halt price-linked tax break for Gulf of Mexico players The US Senate has approved an amendment to the Defense Appropriations Bill that would end royalty relief for companies producing in the Gulf of Mexico when oil and gas prices exceed certain levels. The amendment, penned by Republican Senator Jon Kyl […]

The Wall Street Journal: Crude Falls as Terror Alert Ripples to Travel Demand

EXTRACT: Adding to the drag on oil prices, Royal Dutch Shell PLC said a Nigerian pipeline where a leak had caused it to declare force majeure on 180,000 barrels a day of output was back in use. THE ARTICLE By MATT CHAMBERS August 11, 2006; Page C3 Crude-oil futures slid 3.1% as traders bet that […]

The Wall Street Journal: ‘Smart Pig’ Hogs Spotlight as BP Closes Oil Field

EXTRACT: A division of Royal Dutch Shell PLC is credited with inventing the technology, which was licensed to Tuboscope Inc., an early maker of smart pigs. THE ARTICLE By ANNA RAFF August 11, 2006; Page A2 If there is one lesson BP PLC should take away from the Prudhoe Bay debacle, it is this: Never […]

The Wall Street Jornal: Oil News Roundup: August 10, 2006 5:13 p.m.

THE WALL STREET JOURNAL ONLINE Oil futures fell sharply, losing more than $2 a barrel on the New York Mercantile Exchange, on worries that news of a foiled terrorist plot targeting major airlines could slow air travel, hurting demand for jet fuel. Here’s Thursday’s roundup of energy-related news: * * * ENDLESS SUMMER: Europe’s punishing […]

The New York Times: Oil Bounces After $2 Slump on Aircraft Bomb Plot

By REUTERS Published: August 11, 2006 Filed at 0:12 a.m. ET SINGAPORE (Reuters) – Oil prices edged up on Friday as geopolitical unease and uncertainty over output from North America’s biggest oilfield checked a 3 percent tumble triggered by a thwarted transatlantic aircraft bomb plot. U.S. light, sweet crude oil (CLc1) drifted 39 cents higher […]

MarketWatch: Shell confirms bonny oil flowing at Nigeria pipeline

Last Update: 5:18 PM ET Aug 10, 2006 LONDON (MarketWatch) — Oil has started flowing again through a Nigerian pipeline that carries Bonny Light crude produced in a joint venture by Royal Dutch Shell PLC (RDSA), Nigerian oil sources said Thursday. Shell declared force majeure on 180,000 barrels a day of oil output late July […]