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Posts on ‘September 12th, 2006’

MarketWatch: Problematic BP a buy, for some

Gulf of Mexico exposure, recent share price fall spells opportunity, some say By Steve Goldstein, MarketWatch Last Update: 7:00 PM ET Sep 12, 2006 LONDON (MarketWatch) — BP plc has a busted pipeline in Alaska. It’s facing probes into a shoddy safety record and allegations of trading manipulations, has a lame-duck chief executive and generates […]

MarketWatch: Shell CEO says it’ll take time to ramp up Nigeria oil output

Sept 12, 2006 LONDON (MarketWatch) — Royal Dutch Shell PLC (RDSB.LN) will take time to ramp up its Nigerian oil production following militant attacks in the Niger Delta, Chief Executive Jeroen van der Veer said Tuesday. Van der Veer said the Anglo-Dutch oil major’s priority “is to create a situation that is safe for our […]

The Moscow Times: $10Bln Behind Oil Difficulties

Wednesday, September 13, 2006. Issue 3496. Page 4. By Miriam Elder Staff Writer Natural Resources Minister Yury Trutnev acknowledged Tuesday that financial concerns were driving the government’s attempt to revoke approval for Sakhalin-2, a $20 billion oil project led by Royal Dutch Shell. The government was forced to act because it will lose $10 billion […]

Leaked Royal Dutch Shell Internal Email from Tom Botts: Kieron McFadyen to head Royal Dutch Shell HSE

EP Europe leadership team change 08-Sep-2006 Kieron McFadyen to head Royal Dutch Shell HSE All, I want to make you aware of an important announcement going on the Shell Wide Web today. I am pleased to announce Kieron McFadyen has been appointed as Vice President, HSE, Royal Dutch Shell, effective November 1.  This role, which […]

RIA Novosti (Moscow): Russia’s minister warns of losses in Sakhalin II project

RIA Novosti (Moscow): Russia’s minister warns of losses in Sakhalin II project 18:19 | 12/ 09/ 2006  MOSCOW, September 12 (RIA Novosti) – Russia could lose $10 billion in the Sakhalin II oil and gas project if operators continue to increase expenses, Russia’s natural resources minister Tuesday. The Sakhalin II project, which is run by […]

AFX News: Lines form for gas before Nigeria strike

Tuesday, September 12, 2006 11:41:00 AM ABUJA, Nigeria (AFX) – Long lines formed at Nigerian gas stations Tuesday ahead of an oil-workers’ strike due to begin at midnight The country’s two biggest petroleum-industry unions called the three-day action to protest the death of a member, killed in a shoot-out between government forces and militants […]

ISN Security Watch (Moscow): Kremlin eyes Sakhalin hydrocarbon riches (MAJOR ARTICLE)

Russia’s ambitious plans to expand to Asia-Pacific energy markets see the island of Sakhalin as their cornerstone – and a battle ground against Western oil majors for greater state control. By Sergei Blagov in Moscow for ISN Security Watch (12/09/06) Russia’s Sakhalin projects have been seen as a cornerstone of Moscow’s ambitious plans to expand […]

Dow Jones Newswires: Shell CEO: Sakhalin 80% Completed; Working To Standard -3

Tuesday September 12nd, 2006 / 14h10   Last week, Russia’s environmental watchdog Rosprirodnadzor said it would seek to revoke Sakhalin Energy’s environmental clearance for the second phase of its project to develop the oil and gas region known as Sakhalin-II after finding fault with the way Sakhalin Energy Ltd. has handled some environmental concerns. Van […]

UpstreamOnline: Nigeria unions firm on strike

(Downing tools in the delta: members of both the Pengassan and Nupeng unions are set to strike on Wednesday) UpstreamOnline: Nigeria unions firm on strike By Upstream staff Nigerian oil unions said today there would be no going back on a three-day “warning strike” due to start on Wednesday, as they gathered for a last-gasp […]

UpstreamOnline: Japan shrugs off Sakhalin 2 woes

By Upstream staff A Japanese government official said today that the Sakhalin 2 liquefied natural gas development in Russia’s far east will come on stream despite opposition by the Russian environmental regulator. Takao Kitabata, the vice minister of Japan’s Ministry of Economy, Trade & Industry, said that the Shell-led project would move ahead, according to […]

UpstreamOnline: Nigerian Petroleum Minister Daukoru puts output loss at 872,000 bpd

  By Upstream staff   Nigerian Minister of State for Petroleum Edmund Daukoru has estimated the amount of oil shut in due to militant attacks and pipeline leaks at 872,000 barrels per day. The figure appeared sharply higher than recent industry estimates of around 600,000 barrels per day shut in. Daukoru did not elaborate on the […]

UpsteamOnline: ‘Cost blow out prompted Sakhalin probes’

By Upstream staff 12 September 2006 Russian investigations into a Shell-led project are the result of a $10 billion cost overrun and are not part of a wider crackdown on foreigners, Natural Resources Minister Yuri Trutnev said today. Last year Shell doubled the cost estimate for its huge Sakhalin 2 project off Russia’s Pacific coast […]

The Wall Street Journal: Oil News Roundup: September 11, 2006 4:25 p.m.

THE WALL STREET JOURNAL ONLINE September 11, 2006 4:25 p.m. Crude-oil futures fell for the sixth straight session, briefly trading below $65 a barrel on the New York Mercantile Exchange, before recovering a bit to settle 64 cents down at $65.61 — their lowest close since late March. Here is Monday’s roundup of oil and […]

Lloyds List: BG and Conoco to seek early development on major UK discovery

By: Discovery of up to 275m barrels of oil equivalent in the North Sea Shoei field is one of the UKs biggest gas condensate finds of the past decade, writes Martyn Wingrove, Lloyds List Published: Sep 12, 2006 BG Group and Conoco-Phillips are targeting early development for one of the UK’s largest gas condensate discoveries […]

Lloyds List: Husky gas find boosts Chinese activity

By: New enthusiasm from discovery in area previously given up as dry, writes Bruce McMichael, Lloyds List Published: Sep 12, 2006 CHINA’S offshore exploration was given a huge boost by a deepwater gas discovery announced earlier this year by Canada’s Husky Energy. The discovery in the South China Sea some 150 miles south of Hong […]

Lloyds List: Chevron aims to hit Jack pot with record-breaking well

Published: Sep 12, 2006 CHEVRON is lining up another appraisal well on its Jack oil discovery as the latest Gulf of Mexico well breaks test records, writes Martyn Wingrove. The US oil major wants to drill again on Jack, which lies in Walker Ridge block 758, in 2007 to delineate this potentially large oil field […]

Financial Times: City regulator to join Clifford Chance

EXTRACT: Mr Conceicao has worked on several of the FSA’s most high-profile cases in recent years. They include those brought against Citigroup over its eurozone bond trade, the Royal Dutch Shell reserves scandal, and a market abuse case involving GLG Partners, a leading hedge fund. THE ARTICLE By Michael Peeland Barney Jopson Published: September 12 […]

Financial Times: Unfathomable task of getting to grips with geopolitical risk

Published: September 12 2006 03:00 | Last updated: September 12 2006 03:00 Five years on from the World Trade Center atrocity, it might be thought investors have a handle on geopolitical risk. The markets are in broad equilibrium, and talk is of humdrum matters such as growth and interest rates. There may be all kinds […]

Interfax (China): Jilin Shell’s oil shale project “making firm progress”

Shanghai.  September  11. INTERFAX-CHINA – The oil shale project carried out by Jilin  Shell Oil Shale Development Co., Ltd. (Jinlin Shell) ), is “making firm progress,” the company announced. The joint-venture  company has dug 5 exploration wells, Liu Xiaowei, the director of  External  Affairs  of  Shell  (China)  said, at the Second Northeast Asia Investment And […]

Rigzone: Shell Hires McFadyen as Global HSE Director

  By  Paul Rogerson, Newsquest Media Group The Herald (Scotland) 9/11/2006 URL: Kieron McFadyen, a Glaswegian who left school at 15 with no qualifications, has been appointed to the newly created position of global health and safety chief by energy group Royal Dutch Shell. The 45-year-old’s new job was announced yesterday in an internal […]

Business Times (Malaysia): Shell Global sees more deals in energy management

By Zurinna Raja Adam [email protected] September 12 2006 SHELL Global Solutions, a unit of the multinational oil major that specialises in technology consulting, expects business in the region to improve this year as more companies seek to address energy saving and environmental concerns. Its hottest selling service is an energy management programme that provides technical, […]

Dow Jones Newswires: Shell To Drill Exploration Well At New Brazil Field In `07

Tuesday September 12nd, 2006 / 1h11    RIO DE JANEIRO -(Dow Jones)- Royal Dutch Shell (RDSB.LN) next year will drill a first exploration well at the BMS-31 block in Brazil’s Santos Basin off the coast of Sao Paulo state, John P. Haney, the vice president of exploration and production at Shell’s Brazilian unit, said Monday. […]

Daily Express, Sabah (Malaysia): Shell to continue support for media

10 September, 2006 Kota Kinabalu: Shell Malaysia will continue to support the development of the media through sponsorship, workshop and education activities. “We thank the media for their responsible, accurate and objective reporting that helped disseminate information on our role and business activities especially in the State,” said Chairman Shell Malaysia Saw Choo Boon in […] (Australia): Shell and Caltex ‘ignoring ethanol fuel’

September 12, 2006 Shell and Caltex, which dominate petrol sales in Australia, are ignoring the push towards ethanol-blended fuels, the Service Station Association (SSA) says. SSA boss Ron Bowden said despite Shell and Caltex supplying more than 65 per cent of the industry, it was independent service stations that were heading ethanol promotion. “It’s the […]

The Sacramento Bee: Cutting-edge gusher: How crews discover fuel 5.3 miles down

(Photograph of a semi-submersible oil rig used for deep drilling is shown being loaded in 2003 for use in the Gulf of Mexico.) THE ARTICLE By Kevin G. Hall – McClatchy Washington Bureau Published 12:00 am PDT Monday, September 11, 2006 WASHINGTON — If someone had suggested a decade ago that oil could be pumped […]