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Posts on ‘September 14th, 2006’

Daily Mail: Shell fined £73m over price fixing

14 September 2006 ROYAL Dutch Shell, which had been enjoying a brief respite from regulators, has been fined £73m by the European Commission for its part in a cartel that fixed prices of road bitumen for eight years. The EU fined 14 companies a total of £180m. Shell’s fine was the heaviest, and was raised […]

Shell Whistleblowers Helpline (perhaps a bit late in the light of recent events)

(The Wall Street Journal sketch above is reproduced in accordance with our “Fair Use Notice) Friday, 15 September 2006 By Alfred Donovan With news of Shell being fined $138 million by the EU for masterminding an illegal cartel, this seems like an appropriate time to write an article about the introduction of the “Shell Global […]

Bloomberg: Gazprom to Expand in Sakhalin Amid Talks With Shell (Update1)

By Torrey Clark Sept. 14 (Bloomberg) — OAO Gazprom, the world’s largest natural-gas producer, signed its first cooperation agreement with Russia’s Sakhalin region, where the company is in talks to join Royal Dutch Shell Plc’s $20 billion project. The island’s administration agreed to support Gazprom’s bids for onshore and offshore licenses and Gazprom agreed to […] Yes, Virginia, there really is an oil cartel

Date: Thursday, 14 September 2006 Michael Pascoe writes: As every populist raving about petrol prices knows, there’s been an evil Big Oil cartel operating against the best interests of consumers. What the populists perhaps didn’t know is just what price they were conspiring to fix – Dutch bitumen. As the BBC reports the European Commission […]

The Minnesota Daily: The end of the global warming debate

September 14, 2006 With the debate over, the media need to stop giving the skeptics airtime. By Holly Lahd To take a line from Fox News, “fair and balanced” journalism is a hot topic in our extremely polarized society right now. To avoid charges of bias from both the left and the right, the media […]

The San Diego Union-Tribune: Shell pitches ‘energy security’

Timetable is offered for Baja arrival of LNG By Diane Lindquist UNION-TRIBUNE STAFF WRITER September 14, 2006 Shell Oil executives said yesterday that the company’s first supplies of liquefied natural gas to fuel Baja California and California power plants will start arriving at a Baja California re-gasification facility by the third quarter of 2008. V. […]

The Canadian Press: A basin full of huge oil potential

Exploration well drilling starts in Newfoundland’s Orphan area By JAMES STEVENSON CALGARY — Drilling has started on the very first exploration well in the Orphan Basin, a massive and relatively unknown area in the Atlantic Ocean northeast of St. John’s, N.L., in what one partner described Wednesday as a “wild bet” to find vast oil […]

Reuters: Qatar Oryx GTL project ‘delayed’

Reuters – 13/09/2006 Technical problems have delayed commissioning of the Oryx gas-to-liquids plant in Qatar and the plant’s output will not reach the market until the first quarter of next year, the plant’s operator said. Previously the plant had been scheduled to start selling fuel this year but problems with a super heater have caused […]

UpstreamOnline: Shell scoops Malaysia awards

   (Shell Malaysia chairman Saw Choo Boon)  By Russell Searancke 14 September 2006 Shell Malaysia’s upstream and downstream assets won multiple awards including the grand prize at a Malaysian Society for Occupational Safety and Health (MSOSH) ceremony. At an awards presentation on 8 September, Shell’s Labuan crude oil terminal garnered the Grand Award, the top […]

Asahi Shimbun (Japan): Sakhalin II is already a year behind schedule

YUZHNO-SAKHALINSK, Russia–A huge Sakhalin gas and oil project led by Royal Dutch/Shell Group and Japanese trading houses Mitsui & Co. and Mitsubishi Corp. has been suspended by a Russian ministry. Asahi Shimbun Published: Sep 14, 2006 Sakhalin II, which is expected to produce 9.6 millions tons of liquefied natural gas, the equivalent of 10 percent […]

Financial Times: Groups fined over bitumen cartel: Shell received by far the biggest fine, €108m

By Tobias Buck in Brussels Published: September 14 2006 03:00 | Last updated: September 14 2006 03:00 Shell, Total and 11 other companies were yesterday fined a total of €267m ($339m) after the European Commission found they had fixed prices in the Dutch market for road bitumen. A cartel brought together eight suppliers and five […]

Financial Times: Energy companies asked to aid scheme

By Fiona Harvey Published: September 14 2006 03:00 | Last updated: September 14 2006 03:00 Energy companies will be asked by the governmentto contribute to a £500m scheme to research new low-carbon forms of energy. Detailed plans for an Energy Technologies Institute, promised in this year’s Budget by Gordon Brown, will be set out today. […]

The Times: Stop Press: Firms fined for fixing bitumen prices (including a €108 million penalty for Shell)

September 14, 2006    Europe’s top antitrust authority fined 14 companies a total of €266.7 million (£180 million), including a €108 million penalty for Shell, for fixing prices of road surface material bitumen in the Netherlands. Four of the firms said that they intended to appeal. Shell received the biggest fine, while its French peer […]

The New York Times: Bureaucratic Bungling Gave Big Oil Royalty Break

By REUTERS Published: September 13, 2006 Filed at 3:44 p.m. ET WASHINGTON (Reuters) – Big oil companies were able to avoid paying the government billions of dollars in royalties normally due on drilling leases in the Gulf of Mexico because of ”bureaucratic bungling” at the U.S. Interior Department, the department’s inspector general told Congress on […]

Aberdeen City Council: Shell’s plans for £25million new HQ recommended for approval

13/09/06 Shell UK Exploration’s proposals for a new £25 million headquarters in Aberdeen are being recommended for approval. The nine-storey building would have a triangular footprint and be situated close to Shell’s existing Tullos headquarters on a 1.25-hectare site of which a large part is used for car parking. The site is on the east […]

10News: Shell CEO John Hofmeister Speaks On Controversial Refinery Closure

10News: Shell CEO John Hofmeister (above) Speaks On Controversial Refinery Closure POSTED: 8:55 pm PDT September 13, 2006 Shell workers told 10News there was an alleged plan to drive up gas prices by closing a California refinery. “They’ve lied and led people to believe there is an inadequate supply of crude oil to run that […]

The Wall Street Journal: Nigeria Oil Workers Start Strike

Associated Press September 13, 2006 5:58 p.m. LAGOS, Nigeria — Oil workers’ unions launched a three-day strike Wednesday over worsening security in Nigeria’s oil-rich region as Chevron confirmed the death of a subcontractor in the restive southern area. The country’s two biggest petroleum industry unions had called the action to protest the death of another […]

The Wall Street Journal: Oil News Roundup: September 13, 2006 5:22 p.m.

THE WALL STREET JOURNAL ONLINE September 13, 2006 5:22 p.m. Crude-oil futures broke a seven-session losing streak, finishing at more than $64 a barrel on the New York Mercantile Exchange. The bounce came despite a government report of a bigger-than-expected build in oil distillates. Here is Wednesday’s roundup of oil and energy news. * * […]

The Wall Street Journal: Russia Ties Probe Of Sakhalin Site To Cost Overrun

By GREG WALTERS September 13, 2006 MOSCOW — Rising environmental scrutiny of the international oil consortium Sakhalin Energy Ltd. is related to a $10 billion cost increase at the project, which will eat into the Russian government’s share of profits, Minister of Natural Resources Yuri Trutnev said. The announcement follows recent threats by Russia’s environmental […]

The Wall Street Journal: EU Fines Shell, Total, 12 Others In Bitumen Price-Fixing Case

A WALL STREET JOURNAL NEWS ROUNDUP September 14, 2006; Page A10 BRUSSELS — The European Union’s executive fined 14 companies a total of €266.7 million ($338.5 million) for fixing prices of bitumen, a material used in road construction. Oil company Royal Dutch Shell PLC was hit with the biggest fine, €108 million, as a repeat […]

BBC News: EU fines cartel over bitumen fix (with Shell getting the largest penalty of $137m)

(The EC said that Shell was the lead player in the bitumen cartel) THE ARTICLE BBC News: EU fines cartel over bitumen fix By Theo Leggett Europe business reporter The European Commission has fined some of the region’s top oil firms including Shell and Total for their role in a cartel that fixed the price […]

The Herald (Scotland): Shell fined §108m for fixing prices in Dutch road works cartel

RAF CASERT, Brussels September 14 2006   ROYAL Dutch Shell was among 14 companies fined §267m (£180m) by the European Union yesterday, following a ruling that they had run a cartel over eight years to fix the price of a key asphalt ingredient for Dutch road works projects. The oil giant has to pay by […]