September 13th, 2006:

EXTRACTS: Elsewhere, Nigerian oil unions prepared to begin a three-day strike Wednesday to protest growing insecurity in the oil-rich Niger Delta, where dozens of attacks and kidnappings have been responsible for helping pushing crude prices higher.

As many as 20,000 oil unionists will protest the killing of a Royal Dutch Shell employee three weeks ago and comes a day after the death of a Chevron-affliated employee, attacked by gunmen aboard a boat. Nigeria is the fifth largest supplier of crude to the United States. read more

Published: Sep 13, 2006

BEIJING (XFN-ASIA) – China Petroleum & Chemical (Sinopec) group, the parent of China Petroleum & Chemical Corp (Sinopec) (SHA 600028; HK 0386; NYSE SNP), is expected to sign a contract with Iran to develop the latter’s Yadavaran oil field soon, the official Shanghai Securities News reported, citing company sources.

The report said Iran would give China’s largest refiner a 51 pct stake in the oil field, the overseas subsidiary of India’s state-owned Oil & Natural Gas Corp would get a 29 pct stake, and the rest would be owned by National Iranian Oil. read more

Published: Sep 13, 2006

MOSCOW (AFX) – Russia’s Natural Resources Minister Yury Trutnev has criticized cost overruns at the vast Sakhalin-2 oil and gas project in the Russian Far East led by Royal Dutch Shell.

Under the production-sharing agreement that governs the project, the state receives a share of revenues once the initial investment has been paid off. However, Shell announced in July 2005 that the investment required to develop the project had doubled to 20 bln usd from 10 bln usd, meaning that the Russian government will have to wait much longer for its share of revenues. read more

MOSCOW (AP) – Russia’s natural resources minister said Tuesday that swelling production costs at an international oil project on the Pacific Island of Sakhalin that is led by Royal Dutch Shell hurt Russian economic interests.

The statement from Yuri Trutnev follows moves by an environmental regulator agency subordinate to him to halt the Sakhalin-2 project over alleged damage to the environment. “The Russian Federation simply must protect its interests,” Trutnev said Tuesday, according to his ministry’s statement. read more

(Walter van de Vijver right, with his then colleague Jeroen van der Veer in happier times. Both signed Form 20F returns to the SEC containing false information.)

THE ARTICLE

By Ian Bickerton in Amsterdam
Published: September 13 2006 03:00 | Last updated: September 13 2006 03:00

Walter van de Vijver, the former head of Royal Dutch Shell’s exploration and production division who was forced to resign amid an accounting scandal in early 2004, has founded a company to exploit unrealised oil and gas reserves. read more