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Posts on ‘September 6th, 2006’

The Moscow Times: Ministry Presses Exxon on Sakhalin-1

Thursday, September 7, 2006. Issue 3492. Page 5. Reuters The Natural Resources Ministry has told ExxonMobil it will not automatically enlarge the license territory of Exxon’s Sakhalin-1 oil and gas block, despite the discovery of new reserves near or at existing deposits. The ministry said its representatives had told the U.S. oil major, developing the […]

Oil&Gas Journal: International group starts Saudi gas drilling

By OGJ editors HOUSTON, Sept. 6 — A joint venture of Royal Dutch Shell PLC, Total SA, and Saudi Aramco has begun exploratory drilling for nonassociated gas and condensate in the southern part of Saudi Arabia’s Empty Quarter. The venture, South Rub al-Khali Co. Ltd. (SRAK), has spudded Isharat 1, the first of seven wells […]

Bloomberg: Oil Falls to 5-Month Low in New York as Supply Concern Eases

EXTRACT: Royal Dutch Shell Plc, the world’s second-largest publicly traded oil company, said its Mars platform in the Gulf was producing 20 percent more oil than before it was damaged and shut down by Katrina. The platform is currently producing 190,000 barrels of oil equivalent per day, the company said today in a statement.  THE […]

International Herald Tribune: Russian will not abrogate existing production-sharing agreements

The Associated Press WEDNESDAY, SEPTEMBER 6, 2006 MOSCOW Russia will not abandon existing production sharing agreements with foreign oil and gas companies, but is unlikely to pursue further such deals in the future, the RIA-Novosti news agency quoted a senior official as saying Wednesday. Deputy Economic Development and Trade Minister Kirill Androsov also said he […]

TMCnet: Sakhalin-2 promoter denies Russian environment regulator’s claim

(Kyodo News International (Tokyo) (KRT) Via Thomson Dialog NewsEdge) Sep. 6– MOSCOW — Sakhalin Energy Investment Co., an international consortium promoting an oil and natural gas development project off Russia’s Sakhalin island, on Wednesday denied a claim by the Russian environmental regulator that the exploration program could harm the environment, Interfax news agency said. Sakhalin […]

Dow Jones Newswires: Russian Dep Min: Won’t Tear Up Sakhalin PSAs

Wednesday September 6th, 2006 / 17h51    However, Androsov said Russia is unlikely to pursue further PSAs in the future. Androsov’s comments echo similar comments by Kremlin aide Igor Shuvalov, who said Tusday that accusations by the Ministry of Natural Resources against Shalin Energy, the Royal Dutch Shell (RDSA)-led consortium developing Sakhalin-II, had nothing to […]

RIA Novosti (Moscow): Gazprom wants no more than 25% in Sakhalin II – dep. minister

20:35 | 06/ 09/ 2006  ST. PETERSBURG, September 6 (RIA Novosti) – Russian energy giant Gazprom does not want more than a 25% stake in the Sakhalin II project in the Far East, a deputy economics minister said Wednesday. Speaking to reporters from Japan on the sidelines of a Russian-Japanese investment forum, Kirill Androsov said: […]

MarketWatch: Platts Releases 2006 Top 250 Global Energy Companies List

Sep 6, 2006 SINGAPORE, Sept 06, 2006 /PRNewswire via COMTEX/ — Platts today released its annual 2006 Top 250 Global Energy Companies rankings, recognizing the industry’s top-performing companies around the world. The list, led by Exxon Mobil Corporation, was unveiled at the Platts Top 250 Global Energy Companies Asia/Pacific Rim Region Awards Dinner, sponsored by […]


Volume 7, Issue 7- August 2, 2006 Fortune Magazine’s List of the Top 500 Companies Who are at the top of the 500 most successful companies world-wide? How “little” can a company make and still be part of this exclusive club? These questions are answered in the July 24, 2006, issue of Fortune Magazine. ExxonMobil […]

RIA Novosti: Russian Ministry plans to finish probe into Sakhalin-II by end of year

14:35 | 06/ 09/ 2006  ST. PETERSBURG, September 6 (RIA Novosti) – Russia’s economics ministry is hoping to finalize a review of the feasibility study of the Sakhalin-II energy project off the country’s Pacific coast by the end of the year, the deputy economics minister said Wednesday. Costs on Sakhalin II have reportedly doubled to […]

Kommersant: Russian Pres. Aide Suggests Foreigners Forego Product Sharing

Russian presidential aide Igor Shuvalov said at a briefing at the RIA Novosti news agency yesterday that it was desirable for participants in product-sharing agreements to convert to a “national procedure.” He suggested that the participants in the Sakhalin 2 project could thus solve their problems with Russian agencies. Russian authorities have repeatedly expressed dissatisfaction […]

Gulf Times – Doha, Qatar: Shell top officials discuss strategies at Doha meet

Published: Wednesday, 6 September, 2006, 11:41 AM Doha Time    Top executives from Royal Dutch Shell’s global project community at the annual Shell Project Directors’ Conference at the Sheraton yesterday   Business Reporter MORE than 40 top executives from Royal Dutch Shell’s global project community gathered at the Sheraton yesterday to share information on leading-edge […]

Sakhalin II: The Russians play hard ball with Royal Dutch Shell

By John Donovan As the second largest oil company in the world, Royal Dutch Shell is used to dealing from a position of overwhelming supremacy in terms of financial clout and influence.  And when it comes down to a no-holds-barred negotiation watch out, Shell management knows all the moves, legal and otherwise. However, in Russia, […]

The Times: Oil firms pile into bidding for rights in India

September 06, 2006 By David Robertson   THE world’s big oil companies are “going crazy” bidding for the rights to explore in India for the first time. Companies have ten days to submit bids on fifty-five exploration blocs around India in one of the largest oil and gas auctions. The Indian Government is hoping that […]

Times Online: Russia tries to shut down Shell gas field

By Michael Herman and Agencies in Moscow   The Russian environmental watchdog today launched a legal challenge to halt construction at Sakhalin-2, a $20 billion (£10.6 billion) gas project led by Royal Dutch Shell. It came as the energy giant remained locked in an ownership dispute with Gazprom, the Russian state-owned energy company.   The […]

Daily Telegraph: Database: Energy: Wednesday 6 September 2006

• Iran set deadlines for Total and Royal Dutch Shell to decide on whether to go ahead with liquefied natural gas projects in the country. • Natural gas for delivery in the UK in November declined on confidence that supply will be sufficient to cover demand during the peak winter season. • John Wood posted […]

Daily Telegraph: Chevron strikes oil in ‘biggest US find’

EXTRACT: The news should boost the hopes of Shell and BP, which both own drilling leases in adjacent areas. Shares in Chevron, which owns 50pc of the well, and Statoil, which owns 25pc, rose around 3pc, while Devon, which owns the remainder, soared 12pc to an all-time high. THE ARTICLE By David Litterick in New […]

The Independent: Major oil find could boost US reserves by half

By: Stephen Foley in New York, The Independent – United Kingdom Published: Sep 06, 2006 One of the world’s biggest oil companies held out the prospect that the US could increase its domestic oil reserves by up to a half after unveiling positive results from drilling in the Gulf of Mexico yesterday. Chevron said it […]

UPI: Kremlin ready to block Shell Sakhalin II project

MOSCOW, Russia (UPI) — Moscow appears ready to block a $20 billion natural gas project, led by the Royal Dutch Shell Group PLC, on the Pacific Ocean island of Sakhalin. The formal reason is the Federal Service for the Supervision of Natural Resources, which says environmental recommendations of the project — the world`s largest integrated […]

The Wall Street Journal: Oil News Roundup: September 5, 2006 4:18 p.m.

THE WALL STREET JOURNAL ONLINE September 5, 2006 4:18 p.m. Crude-oil prices tumbled to less than $69 a barrel on the New York Mercantile Exchange as worries about hurricane season and tensions with Iran ebbed and Chevron announced a potentially significant new deepwater source of oil in the Gulf of Mexico. Here is Tuesday’s roundup […]

The Wall Street Journal: MarketBeat: Striking Oil

September 5, 2006 4:19 p.m. Send suggestions and tips to [email protected] Find this feature every day at The oil sector struck gold, after news that Chevron and two partners made a significant discovery that could boost the nation’s oil reserves by as much as 50%. The yield from the test wells in the Gulf […]

The Wall Street Journal: Russian Energy

By MICHAEL CONNOLLY September 6, 2006 RUSSIAN ENERGY: While OAO Gazprom’s decision to pay Turkmenistan more for natural gas will likely improve the reliability of supplies to Europe this winter, reducing prospects for a repetition of last winter’s disruption reductions with Ukraine, the deal further tightens Moscow’s grip on supplies from Central Asia. Continuing the […]

The Wall Street Journal: Russia Sues Over Sakhalin II Project

ASSOCIATED PRESS September 5, 2006 4:00 p.m.; Page A10 Russia’s environmental regulator said it had filed suit seeking to revoke approval for a $20 billion international oil and gas project led by Royal Dutch Shell PLC on the Pacific island of Sakhalin. The Federal Service for the Supervision of Natural Resources had signaled for several […]

CBS News: Mining Black Gold Off The Gulf Coast

CBS News: Oil Companies Look For Homegrown Reserves At The Bottom Of The Sea Sept. 5, 2006 (CBS) Chevron announced on Tuesday a record-breaking strike in the Gulf of Mexico. But it’s not the only oil company looking for oil closer to home. “If the technology can keep up with it, there’s more reserves to […]

Convenience Store Decisions: Credit Card Break for Shell Dealers

Oil company has secured a permanent MasterCard merchant service fee reduction for its branded operators. Shell Oil Products said it recognizes that the rising cost of gasoline is crushing fuel margins and it is offering its branded marketers a break. To ease costs for its branded marketers, the Houston-based refiner-marketer has negotiated a permanent MasterCard […]

The Independent: Market Report: Premier leads list of Shell takeover candidates

By Andrew Dewson Published: 06 September 2006 It looks like traders are taking the scattergun approach in attempting to predict Shell’s corporate strategy. The oil giant was linked to no fewer than three takeover targets yesterday – Centrica, BG Group and Premier Oil. So far, Shell has only confirmed it is “taking advice” on a […]

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