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Posts on ‘September 18th, 2006’

Daily Telegraph: Russia turns the screw on Royal Dutch Shell

By Christopher Hope, Industry Editor (Filed: 19/09/2006) Shell moved last night to reassure its investors after Russia tried to stop the development of its biggest gas project, the $20bn (£10.6bn) Sakhalin II scheme in eastern Siberia. The move by the Putin administration was seen by some as an attempt to tighten the Kremlin’s grip on […]

The Independent: BG lit up by talk that Royal Dutch Shell will pounce on it

Market Report By Michael Jivkov Published: 19 September 2006 It may be one of the oldest rumours in the stock market, but talk of a bid for BG Group once again got punters piling into the company yesterday. Shares in BG finished 10p higher at 650p as dealing rooms were set alight by speculation that […]

The New York Times: Kremlin revokes oil project approval

By Andrew E. Kramer Published: September 18, 2006   MOSCOW Citing damage to salmon- bearing rivers on Sakhalin Island, the Russian government on Monday withdrew environmental approval for the largest private energy investment here, the Royal Dutch Shell-operated Sakhalin-II liquefied natural gas project.   The complex development straddles the coastline on the northern rim of […]

Bloomberg: Royal Dutch Shell’s Sakhalin Oilfield Permit Annulled by Russia (Update5)

By Lucian Kim Sept. 18 (Bloomberg) — A Russian government ministry canceled Royal Dutch Shell Plc’s permit for the $20 billion Sakhalin-2 oil and gas development, as President Vladimir Putin tightens his control over the country’s energy industry. The Natural Resources Ministry said today in a statement it asked the Russian agency responsible for authorizing […]

International Herald Tribune: Russia revokes approval for Royal Dutch Shell-run Sakhalin project

By Andrew E. Kramer Bloomberg News, Reuters Published: September 18, 2006   MOSCOW: A Russian government agency on Monday withdrew environmental approval for the world’s largest combined oil and natural gas development, a project led by Royal Dutch Shell on Sakhalin Island in the Pacific Ocean that will eventually supply Japan, Korea and the United […]

Bloomberg: Royal Dutch Shell’s Sakhalin Oilfield Permit Annulled by Russia (Update3)

By Lucian Kim Sept. 18 (Bloomberg) — Russia’s Natural Resources Ministry canceled Royal Dutch Shell Plc’s permit for the $20 billion Sakhalin-2 oil and gas development, as President Vladimir Putin expands his control over the country’s energy industry. The Natural Resources Ministry said in a statement it had asked the Russian agency responsible for authorizing […]

RIA Novosti: Natural Resources Ministry annuls Sakhalin II probe approval

17:32 | 18/ 09/ 2006  MOSCOW, September 18 (RIA Novosti) – Russia’s Natural Resources Ministry said Monday it had decided to annul its approval of the results of a 2003 state probe into the Sakhalin II energy project off the country’s Pacific coast. This decision was made after First Deputy Prosecutor General Alexander Buksman protested […]

Reuters: Russia cancels Royal Dutch Shell’s Sakhalin ecological approval

Mon Sep 18, 2006 2:11 PM BST   MOSCOW (Reuters) – Russia’s resources ministry said on Monday it had cancelled its own ecological approvals for Royal Dutch Shell’s Sakhalin-2 project but this did not mean the $20 billion development would close. The cancellation follows weeks of wrangling between the ministry and the company over ecological […]

Catastrophic news for Royal Dutch Shell Plc?: Russia calls a halt to Sakhalin II

Comments from a Shell insider on viewing the situation from the Russian perspective EXTRACT: Gas fields and production facilities do not last forever, and by the time Shell have amortised the currently estimated development costs the Sakhalin fields will be starting to decline, and the production facilities will be reaching the end of their design […]

CNN.com: Royal Dutch Shell Plc setback in Russia project

  MOSCOW, Russia (Reuters) — Russia’s resources ministry said on Monday it had canceled its own ecological approvals for Royal Dutch Shell’s Sakhalin-2 project, which could effectively halt the $20 billion project. The move follows weeks of wrangling between the ministry and the company over ecological compliance and the ministry promised last week to sue […]

AFX News Limited: Russian ministry cancels permits for Shell’s Sakhalin-2

09.18.2006 09:40 AM   MOSCOW (AFX) – The Russian ministry of natural resources said it had revoked environmental permits allowing a Shell-led energy consortium to develop Sakhalin-2, a Russian oil and gas field that is the world’s biggest privately-funded energy project. newsdesk@afxnews.com afp/cml

BBC News: Royal Dutch Shell Plc faces Russia legal pressure

Russian prosecutors have said that Royal Dutch Shell’s giant oil and gas project off the island of Sakhalin was illegally given environmental approval. The statement comes after a Russian environmental group called for the Pacific Ocean scheme to be blocked. Western analysts say the move by the Russian Prosecutor General’s Office is the latest attempt […]

Associated Press: Russia Stops Shell Gas Project

MOSCOW — The Russian Natural Resources Ministry said Monday that it has decided to revoke the environmental approval of a Shell-led liquefied natural gas project on the Far East island of Sakhalin. The statement came after prosecutors alleged over the weekend that permission to develop the second phase of the $20 billion project had been […]

An email to Royal Dutch Shell General Counsel regarding Sakhalin II crisis

18 September 2006 EMAIL SENT TO RICHARD WISEMAN AND COPIED TO JEROEN VAN DER VEER AND MALCOLM BRINDED OBE Dear Mr Wiseman I know you are probably busy with the BG bid, but I just wanted to let you know as a matter of courtesy that we have posted a couple of hopefully inoffensive and […]