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Posts on ‘September 1st, 2006’

Auto Service World: We Go Together Like, Pennzoil and Suzuki.

EXTRACT: Pennzoil-Quaker State Inc. is a Shell Lubricants company and part of the Royal Dutch/Shell Group. Shell Lubricants companies operate in over 120 countries worldwide. Two prominent automotive brands have come together to provide both their products and services to Canadian Suzuki dealers and their customers. Suzuki Canada and Pennzoil-Quaker State Canada have announced a […] Citgo Indictment Hints at Pollution Scourge, Texas Activists Say

EXTRACT: After years of breathing pollutants from a local facility owned by Motiva, part of Shell Oil, Port Arthur residents are now facing a pending expansion that would make the refinery the country’s largest. THE ARTICLE by Michelle Chen Recent criminal charges against Citgo’s refinery in Corpus Christi represent a rare crack-down on an industry […]

UpstreamOnline: Shell faces Nigeria call for $3.2bn

By Upstream staff SHELL has been urged by Nigeria’s National Assembly to pay $3.2 billion into federal coffers that the House Committee on Petroleum Resources alleges are undischarged fiscal obligations arising from the country’s overly complicated petroleum laws, writes Barry Morgan. The committee this week castigated Minister of State for Petroleum Edmund Daukoru for failing […]

MarketWatch: Russia threatens to shut down Sakhalin-II oil production

Last Update: 1:32 PM ET Sep 1, 2006 By Greg Walters Of DOW JONES NEWSWIRES MOSCOW (MarketWatch) — Russian authorities may order the Sakhalin Energy Ltd. international energy consortium to stop pumping oil if the company does not correct environmental violations registered over the past year, officials said Friday. Analysts called the announcement an attempt […]

Ethical Corporation Magazine (UK): Shell forced to reroute Sakhalin II pipelines

September 2006 Environmental groups campaigning to protect whales and salmon have forced Shell to reroute pipelines, doubling costs for its Sakhalin II project. And the European Bank for Reconstruction and Development is reviewing the project before approving loans for it, while Royal Bank of Scotland is taking heat from London-based Platform Group for bidding to […]

Sioux City Journal: Oil prices rise on high demand, potential cuts

EXTRACT: On Wednesday, Nigeria’s two main oil-workers’ unions met to decide whether to strike in protest of a member’s death. Nelson Ujeya, employed by Royal Dutch Shell, died Aug. 20 after weeks in captivity when the military fired on a boat carrying him to freedom after local leaders negotiated his release. In all, 12 people […]

UpstreamOnline: Departing Klein backs hands-off approach

EXTRACT: Shell Canada rattled the industry in July with word that an expansion that had been expected to cost C$7 billion ($6.4 billion) now could come in as high as C$12.8 billion due to labor shortages and ballooning materials costs. THE ARTICLE By Upstream staff Oil sands developers, not the Alberta government, must decide when […]

UpstreamOnline: Sakhalin Energy suspends work on pipelines

By Upstream staff Shell-led Sakhalin Energy Investments, operator ot the Sakhalin 2 oil and gas development near Sakhalin Island in Russia´s far east, has confirmed that it asked its sub-contractors to suspend construction work at several pipelines, writes Vladimir Afanasiev. According to the company, its own“rigorous monitoring and inspection”had“detected some isolated examples of sub-contractors not […]

UpstreamOnline: Storage talk wide of mark at Shell

By Upstream staff Shell is actively looking to sell the cargo of LNG it has sitting in storage on board a vessel off the Norwegian coast and has no plans to make a permanent storage facility in the area, writes Lucy Hine. General manager of commercial shipping Andrew Robson said the company is looking for […]

UpstreamOnline: Shell eyes buoy for back-up plan

Supermajor looks at offloading contingency for possible storms By Upstream staff Supermajor Shell is examining use of a fast deployable, relocateable mooring buoy as an oil offloading contingency plan should another hurricane wreck crucial pipeline systems and cripple output from the US Gulf. Last year’s Hurricanes Katrina and Rita were responsible for damage to over […]

The Wall Street Journal: Total’s Key to Russia Is LNG

Oil Company Hopes To Join With Gazprom On $20 Billion Project By ANNE-SYLVAINE CHASSANY August 31, 2006 PARIS — Total SA, one of the few oil majors without a significant presence in Russia, is looking to the Shtokman liquefied-natural-gas project to help it catch up to its peers. Menno Grouvel, Total’s senior vice president for […]

The Wall Street Journal: SEC Drops Probe Of Former Officers In Shell Oil Case

By JOHN M. BIERS August 31, 2006; Page B7 The Securities and Exchange Commission has decided to take no action against Philip Watts, the former top executive at what is now Royal Dutch Shell PLC, over the 2004 reserves-overbooking scandal, according to his lawyer. The SEC conducted a two-year joint investigation with the United Kingdom […]

The Wall Street Journal: Oil News Roundup: August 31, 2006 5:46 p.m.

THE WALL STREET JOURNAL ONLINE August 31, 2006 5:46 p.m. Crude oil fell most of the day before bouncing in late trading amid ongoing concerns about Iran’s nuclear program, gaining 23 cents to $70.26 a barrel on the New York Mercantile Exchange. Prices fell below $70 earlier in the session on optimism that output at […]

Daily Mail: Watts is cleared by US oil reserves inquiry

By: Brian O’Connor, Daily Mail – London: KRTBN Published: Aug 31, 2006 Former Shell chairman Sir Philip Watts has been cleared by the US Securities and Exchange Commission, which spent two years investigating his role in Shell’s reserves scandal. His lawyers said the SEC “concluded that no action should be taken.” Sir Philip said: “I […]

The Independent: Premier Oil soars again on talk of bidding war

By: Andrew Dewson, Published: Sep 01, 2006 Anyone lucky enough to have owned a handful of shares in Premier Oil four years ago should be grinning from ear to ear. The shares have risen almost 500 per cent since January 2002, a level of out-performance that few London listed stocks can match. Mid-cap oil stocks […]

Financial Times: BP is deserving of censure, but not a vendetta

By Sybil Ackerman Published: September 1 2006 03:00 | Last updated: September 1 2006 03:00 Environmentalists love to hate big oil companies. “I told you so,” we say to ourselves, as we learn about BP’s leaky oil pipes in Alaska. The fiasco in Alaska could spell serious trouble for BP, as the US Congress begins […]

Reuters: US drivers subsidize European pump prices: report

Thu Aug 31, 2006 4:35 PM ET By Tom Doggett WASHINGTON (Reuters) – U.S. drivers helped to boost Big Oil’s record profits more than their European counterparts, by paying more for gasoline once taxes were taken out at the pump, according to a report released on Thursday. The report from the Foundation for Taxpayer and […]

Associated Press: Alaskans oppose drilling offshore, not in the refuge

September 1, 2006 KAKTOVIK, Alaska — Interior Secretary Dirk Kempthorne made his first visit to the Arctic National Wildlife Refuge on Thursday and was greeted by local leaders concerned not about drilling in the refuge, but by plans for offshore oil development. Tribal leaders said offshore drilling in the Beaufort Sea would interfere with their […]

Voice of America: Nigerian Oil Workers Declare ‘Warning Strike’

By Gilbert da Costa Abuja 31 August 2006 Nigerian oil unions have declared a three-day ‘warning strike’ to protest worsening violence and kidnapping of workers in the Niger Delta.   The unions are demanding steps to improve the situation or they may withdraw their members from the region, indefinitely.   Union officials say the warning strike […]

Dow Jones Newswires: Nigeria Min Appears Before House Panel On Shell – Report

LAGOS -(Dow Jones)- Nigeria’s oil minister Wednesday appeared before a House committee to answer questions concerning an alleged underpayment to the government by a unit of Royal Dutch Shell PLC (RDSA), a private television station reported. Channels TV said that Minister of State for Petroleum Edmund Daukoru presented the Committee on Petroleum a value-for-money audit […]