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Posts on ‘September 10th, 2006’

Scotland On Sunday: BP and Shell facing huge problems in remote locations: Alaska and Sakhalin Island in Russia

BP and Shell are both currently facing huge practical and reputation problems on major projects in remote locations: BP in Alaska and Shell in Sakhalin Island in Russia. Apparently the naive Chief Executive of Royal Dutch Shell Plc, Mr Jeroen van der Veer, did not realise the signal he was sending out when he rolled […]

Mail On Sunday: Russia bids to grab £6bn Shell project: Oil giant’s fury over Kremlin blackmail plot

Financial Mail on Sunday By Tom McGhie 10 September 2006 SHELL is accusing Russia of using blackmail to seize control of the world’s biggest oil and gas project. It fears that its £6 billion investment in two 800-kilometre pipelines and a new liquefied natural gas plant on the Pacific island of Sakhalin is at risk. […]

Associated Press: Oil falls below US$67 on weak demand

AP , NEW YORK Sunday, Sep 10, 2006 Oil prices fell by more than US$1 a barrel on Friday, dipping below US$67 as traders focused on slackening demand and rising supplies. Crude futures have pulled back more than 15 percent from their all-time high in mid-July to levels not seen since early April. The Atlantic […]

Sunday Telegraph: BG’s flaky fundamentals: …the most obvious buyer – Shell

Oil companies have had a terrific run over the past three years. But few have done as well as Britain’s BG. Its stock has nearly tripled thanks to the steep rise in energy prices and persistent takeover speculation. But holding out for that bid could entail a very long wait. To see the problem, look […]

Sunday Telegraph: Equity view: Keep on buying BP

Edited by Iain Dey (Filed: 10/09/2006) The FTSE100 stalled last week before it had a chance to breach the 6,000 barrier. Although economic news from Wall Street contributed to the market’s jitters, the psychologically important 6,000 mark was always going to prompt some reflection from investors. Many strategists argue that the UK market is still […]

Sunday Telegraph: Gas starts to flow in new pipeline from Norway

By Sylvia Pfeifer (Filed: 10/09/2006) A 750-mile pipeline from Norway will start delivering gas to Britain this week in what will mark the first new significant supplies in decades. The Langeled pipeline, the world’s longest submarine gas pipe, runs from an export terminal in western Norway to Easington on the East Yorkshire coast. The operators […]

The Observer: BP battles to save image as investors’ trust drips away

EXTRACT: When Shell’s fortunes plummeted two years ago following revelations that it had mis-stated the value of its reserves, BP was able to dine out as the company that people could trust. THE ARTICLE Richard Wachman Sunday September 10, 2006 Has there has been systemic management failure at oil giant BP? The company, you may […]