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Posts on ‘September 8th, 2006’

MarketWatch: OIL MAJORS HIT BY DECLINE IN ENERGY PRICES

9/8/2006 3:19:00 PM By Ciara Linnane 3:19 PM ET Sep 8, 2006  NEW YORK (MarketWatch) — European shares traded in the U.S. were slightly lower Friday as lower crude prices weighed on the oil majors after BP said lost production at its Prudhoe Bay facility may be restored sooner than expected. The Bank of New […]

Bloomberg: Shell Says Cost, Lack of Gas Are Slowing Saudi Plans (Update1)

By Oliver Klaus Sept. 8 (Bloomberg) — Royal Dutch Shell Plc said a lack of natural gas and rising construction costs are slowing down the planned expansion of a chemicals plant in Saudi Arabia that it owns with Saudi Basic Industries Corp. The plans call for expanding the Saudi Arabia Petrochemical Co., or Sadaf, petrochemicals […]

Bloomberg: Exxon says Sakhalin oil production peaks this year

08 Sep 2006 Exxon Mobil Corp., the world’s biggest oil company, said oil production from its $12.8 billion Sakhalin Island development offshore Russia will peak at 250,000 barrels a day by the end of this year. Crude exports from the DeKastri terminal connected by pipeline to Exxon’s Sakhalin 1 project will begin later this month, […]

ExxonMobil announces start of Sakhalin-1 exports in its endeavour to increase world energy supplies

Irving, Texas : Exxon Mobil Corporation (NYSE:XOM) announced today that its subsidiary, Exxon Neftgas Limited, has commissioned the crude oil export system for the multiphase Sakhalin-1 project offshore Russia, bringing to eight the total of ExxonMobil-operated startups within the last 12 months. These significant projects, located in the North Sea, Malaysia, Qatar and in West […]

Oil & Gas Journal: BP employee intimidation allegations arise in House Alaska oil line hearing

Nick Snow Washington Correspondent WASHINGTON, Sept. 7 — Employees in BP Exploration Alaska Inc.’s corrosion and inspection chemicals group may not have reported potential problems in the company’s North Slope oil gathering lines because they felt harassed and intimidated, members of a US House subcommittee said Sept. 7. “We are now learning that there were […]

The Wall Street Journal: BP’s Top U.S. Pipeline Inspector Refuses to Testify

By JOHN J. FIALKA September 8, 2006 WASHINGTON — The chief pipeline-inspection expert for the U.S. subsidiary of BP PLC took the Fifth Amendment under oath before a House Energy and Commerce panel rather than explain what he knew about corrosion in the oil company’s Prudhoe Bay pipelines in 2002. Richard Woollam, who managed corrosion-control […]

Financial Express (India): Russia won’t let Exxon get anywhere near Sakhalin

Russia’s government said it won’t allow Exxon Mobil Corp to expand the boundaries of its $12.8 billion offshore oil project near Sakhalin Island in the Pacific Ocean, adding that nearby discoveries should be auctioned off. Russia is opposed to Exxon’s proposal to include new prospects adjacent to the Chayvo and Odupto fields in the 1996 […]

The Wall Street Journal: Oil News Roundup: September 7, 2006 8:10 p.m.

THE WALL STREET JOURNAL ONLINE September 7, 2006 8:10 p.m. Crude-oil prices fell again, approaching $67 a barrel on the New York Mercantile Exchange, their lowest level in nearly five months, after U.S. government data showed gasoline and distillate stockpiles were higher than analysts had expected. Here is Thursday’s roundup of oil and energy news. […]

The Wall Street Journal: Detectives Often Take the Heat If Things Sour

(This article is posted in view of (1) the admittance by Royal Dutch Shell and its lawyers of its use of undercover agents against perceived enemies including Greenpeace, The Body Shop and the owners of this website, Alfred and John Donovan; (2) the fact that senior Shell directors were until recently also directors and major […]

International Herald Tribune: Shell Oil chief: U.S. needs policy on greenhouse gas emissions

The Associated Press Published: September 7, 2006   ST. LOUIS Touting the importance of a “culture of conservation” and investment in alternative fuels, John Hofmeister sounded less the leader of the world’s third-largest oil company as much as a speaker at an Earth Day celebration.   The Shell Oil Co. president, addressing a group in […]

Globe and Mail (Canada): New truck stops planned by Shell Canada and Flying J

Canadian Press Calgary — Shell Canada and truck-stop specialist Flying J Canada Inc. are combining forces on road-transport services and plan to invest over $220 million in 15 new plazas for commercial travellers. The new joint venture will include Shell Canada’s commercial fuel-card network and Flying J’s Canadian travel plazas. As well, the companies will […]

MarketWatch: Shell Exploration & Production Company Provides Mars TLP Production Update

Last Update: 9:09 PM ET Sep 7, 2006 NEW ORLEANS: Shell Exploration & Production Company announced today that the Mars Tension Leg Platform (TLP), which was heavily damaged during Hurricane Katrina in 2005, is currently producing 190,000 barrels (gross) of oil equivalent per day, which is a 20 percent increase over pre-Katrina rates. As announced […]

Reuters: Exxon warns Russia to honor Sakhalin deal terms

NEW YORK, Sept 7 (Reuters) – Exxon Mobil Corp. (XOM.N: Quote, Profile, Research) on Thursday issued a sharp warning to Russia to honor a decade-old production-sharing agreement to develop the Sakhalin-1 oil and gas block or risk undermining the confidence of foreign investors. The statement came after Russia’s resources ministry told Exxon it would not […]