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Posts on ‘September 22nd, 2006’

International Herald Tribune: U.S. says Russian actions against Shell’s projects violate summit commitments to G-8

The Associated Press Published: September 22, 2006   WASHINGTON The United States is very concerned by recent Russian government actions threatening the revocation of permits granted to Royal Dutch Shell PLC for oil and gas projects, the State Department said Friday.   Spokesman Tom Casey said the actions cast doubt on Russian commitments, including those […]

Dow Jones Newswires: U.S. Raps Russia for Obstructing Shell

Published: September 22, 2006 2:45 PM   WASHINGTON (AP)–The U.S. is very concerned by recent Russian government actions threatening the revocation of permits granted to Royal Dutch Shell PLC (RDSA) for oil and gas projects, the State Department said Friday. Spokesman Tom Casey said the actions cast doubt on Russian commitments, including those made at the […]

Reuters: US says “very concerned” by Russian steps on Shell

Fri Sep 22, 2006 6:24 PM BST WASHINGTON (Reuters) – The U.S. State Department said on Friday it was “very concerned” by Russia’s threat to revoke the environmental permit at Royal Dutch Shell’s Sakhalin-2 oil and gas filed project. “The United States is very concerned by recent Russian government action threatening the revocation of Shell’s […]

The Australian: Sakhalin row risk to energy alliance

David Pilling, Tokyo Saturday September 23, 2006 RUSSIA’S withdrawal of a permit for the $US20 billion ($26billion) Sakhalin-2 liquefied natural gas project could be a “massive blow” to Tokyo’s plans to secure a strategic energy partnership with Russia, a senior Japanese official said. The official, who did not want to be identified, said: “If this […]

Bloomberg: Russian Ministry Renews Attempt to Annul Shell Permit (Update3)

By Garfield Reynolds and Torrey Clark Sept. 22 (Bloomberg) — Russia’s Natural Resources Ministry resubmitted a request to revoke Royal Dutch Shell Plc’s license for its Sakhalin-2 oil and gas project, maintaining a government threat to halt construction work at the $20 billion venture. Rostekhnadzor, the federal industrial safety service, said today it wasn’t authorized […]

Financial Times: On London: Tough times for resource stocks

By Chris Brown-Humes Published: September 22 2006 18:09 | Last updated: September 22 2006 18:17 Times are tough for the bulls on oil and commodity stocks. The sharp falls in oil prices since July have coincided with fresh bouts of troubles for sector heayweights BP and Shell. That has raised doubts about one of the […]

Bloomberg: Shell Faces Sakhalin Grab; Putin Seeks Energy Control (Update1)

By Lucian Kim and Garfield Reynolds Sept. 22 (Bloomberg) — First Russian President Vladimir Putin attacked OAO Yukos Oil Co. Now it’s Royal Dutch Shell Plc. This week’s threat to shut down Shell’s $20 billion Sakhalin Island project, the country’s biggest foreign investment, is another maneuver to force companies in Russia to share more profits […]

Reuters: Dutch PM wants answers on Sakhalin

Fri Sep 22, 2006 2:21 PM BST  By Tom Miles MOSCOW (Reuters) – Dutch Prime Minister Jan Peter Balkenende phoned Russian President Vladimir Putin late on Thursday to demand an explanation for Russia’s tough line on a project run by British-Dutch major Royal Dutch Shell (RDSa.L: Quote, Profile, Research). Russia withdrew ecological permits for Shell’s […]

Daily Mail: Shell’s Russia row reaches United Nations

Margaret Beckett By Sam Fleming Friday 22 September 2006 THE crisis over Royal Dutch Shell’s Sakhalin-2 oil and gas project has erupted into a diplomatic row between Britain and Russia. Foreign Secretary Margaret Beckett challenged her counterpart Sergei Lavrov over the issue at the United Nations in New York, it emerged yesterday. The UK is […]

This is Money: Shell buys into Chinese lubricants firm

22 September 2006 Energy giant Royal Dutch Shell secured third spot in the world’s fastest growing consumer market for lubricating oils today. Shell bolstered its position in China by acquiring 75% of Tongyi, which sells lubricants for cars, motorcycles, trucks and industrial customers through a network of 2,000 distributors and 90,000 retailers. The move for […]

The Scotsman: S.Korea in talks for extra LNG if Sakhalin delayed

By Moon Hae-won Fri 22 Sep 2006 SEOUL (Reuters) – South Korea’s dominant liquefied natural gas importer is in talks to secure alternate supplies in case its shipments from Royal Dutch Shell’s $20 billion (10.6 billion pound) Sakhalin LNG project are delayed, a company source said on Friday. Importers in Japan, which is counting on […]

Dow Jones Newswires: Russia Agency: Sakhalin Statement Was Released In Error

Friday September 22nd, 2006 / 14h45    MOSCOW -(Dow Jones)- A statement saying a government agency wouldn’t agree to cancel a key environmental permit for a $20 billion oil and gas project led by Royal Dutch Shell PLC (RDSA.LN) was mistakenly released and doesn’t reflect the agency’s position, a spokesman for the state body said […]

Dow Jones Newswires: Nigeria To Strip Shell Ogoni Oil License-Official

Friday September 22nd, 2006 / 14h13  By Arien Stuyt and Spencer Swartz Of DOW JONES NEWSWIRES AMSTERDAM -(Dow Jones)- The Nigerian government will revoke Royal Dutch Shell PLC’s (RDSB.LN) oil license in the country’s Ogoniland, although the timing hasn’t been officially set, a Nigerian oil official said Friday. “We are going to revoke Shell’s license […]

International Herald Tribune: Russian regulator denies report it refused to revoke Shell permit

Full headline: Russian regulator denies report saying it refused to revoke Shell permit at Far East project   The Associated Press Published: September 22, 2006   MOSCOW A Russian state regulator quickly refuted a report Friday claiming that it had refused to revoke a key environmental permit at a giant liquefied natural project controlled by […]

AFX News Limited: Russia Loses Millions in Deals with Western Oil Majors

Russia is losing hundreds of millions of dollars in potential revenues under deals signed with Western oil majors in the 1990s, a senior official said in an interview. Taxes from the Royal Dutch Shell-led Sakhalin-2 project in Russia’s far east “could amount to 300-400 mln usd” per year, Sergei Fyodorov of Russia’s ministry of natural […]

Reuters: UPDATE 1-Russia snubs Exxon field claim, chooses Rosneft

Fri Sep 22, 2006 4:29am ET MOSCOW, Sept 22 (Reuters) – Russia said on Friday it would snub claims by Exxon Mobil for a small field located near the U.S. oil major’s giant Sakhalin-1 project, as it will grant it to its state oil firm Rosneft. The move shows the Kremlin is keeping up pressure […]

Bloomberg: Rosneft to Win License Next to Exxon’s Sakhalin-1 (Update1)

By Garfield Reynolds and Lucian Kim Sept. 22 (Bloomberg) — OAO Rosneft, Russia’s state oil company, will win a license to explore for oil and gas at an offshore area bordering Exxon Mobil Corp.’s Sakhalin-1 project in the Pacific Ocean. Rosneft was the only company to apply by the Sept. 14 deadline to take part […]

UpstreamOnline: Tepco waits on Sakhalin news

By Upstream staff Asian utility Tokyo Electric Power (Tepco) is not yet seeking alternative suppliers of liquefied natural gas as Shell’s Sakhalin 2 project faces the risk of delays. The world’s single largest commercial LNG buyer is still gathering information about uncertainty regarding the $20 billion Sakhalin 2 project, the company’s president Tsunehisa Katsumata told […]

BG News: Labeling terrorists should be left to government, not colleges

EXTRACT: As for Shell Oil, who you suggested should be included in a list of terrorist organizations with extremist groups like Hamas, I have trouble equating an unfortunate oil spill with a terrorist attack. Shell Oil did not set out to Nigeria with 56 million gallons of oil to intentionally spill it onto the farmland […]

RIA Novosti: Russia has outgrown PSA (*Shell accused of inflating Sakhalin II costs?)

MOSCOW. (Igor Tomberg for RIA Novosti) – A Russian environment official has said recently that inspections of the large Sakhalin 2 energy project are to continue. “We have not checked the stream flows and outside sea areas yet,” said Oleg Mitvol, deputy head of the Federal Service for the Oversight of Natural Resources. “Based on […]

Mosnews: Russia’s Putin Heads to France for Talks

Russian President Vladimir Putin (above) arrives in Paris on Friday on a visit that will test Western responses to Moscow’s push to use its booming oil and gas revenues to gain a foothold in some of Europe’s key industries, Reuters reports. Putin meets French President Jacques Chirac before the two leaders join German Chancellor Angela […]

The Wall Street Journal: COMMENTARY: The Power Broker

By PIERRE BRIANÇON September 22, 2006 The picture has become much clearer over the last few days. The massive power play is now for all to see. Once again, Russia has not chosen subtlety to make its point. Its acquisition of a 5% stake in Airbus parent company EADS has the stated goal of enlisting […]

The Wall Street Journal: Russia Switches Focus to Exxon In Crackdown on Sakhalin Costs

A WALL STREET JOURNAL NEWS ROUNDUP September 22, 2006; Page A6 Russia appeared to switch the focus of its attack on huge foreign-led projects to the Exxon Mobil Corp.-led Sakhalin I oil project, saying it would likely forbid a $4.2 billion cost overrun since that would cut Moscow’s profit from the venture. Moscow has already […]

The Times: Oil giants in legal row with Russia over joint projects

September 22, 2006 From Julian Evans in Moscow   RUSSIA and a group of oil multinationals have begun drawing the legal battle lines in a fight over the legitimacy of oil and gas production licences worth £40 billion. Sergei Fyodorov, head of subsoil policy at the Russian Natural Resources Ministry, yesterday told the Reuters news […]

Daily Telegraph: Database: Energy: Friday 22 September 2006

• Premier Oil, a UK-based company operating in the North Sea, Asia and Africa, said first-half profit rose 64pc on higher oil and gas prices. • John Wood, a UK oilfield services company, said it will provide additional services at UK oilfields to Total under an existing seven-year agreement. • Sibir Energy will increase its […]

Lloyds List: Sakhalin II on course for 2008 start

Published: Sep 22, 2006 With the completion last month of the 800 m finger pier and LNG loading jetty at Prigorodnoye in Aniva Bay, at the southern tip of the Sakhalin Island, Russia’s Sakhalin II project is on course to begin exporting gas in the third quarter of 2008. The Sakhalin II project not only […]

AFX Europe (Focus): Shell-led Sakhalin consortium warns Russia on environmental permit

Published: Sep 22, 2006 MOSCOW (XFN-ASIA) – A Shell-led consortium developing the Sakhalin-2 energy project warned that the Russian government’s move to retract an environment permit would cause “irreparable damage.” The move “would lead to a significant delay in the project, extra costs and irreparable damage to the reputation of this venture, the Sakhalin region […]

Lloyds List: Shell seeks help for Sakhalin ‘bullying’

By: Martyn Wingrove, Lloyds List Published: Sep 22, 2006 SHELL-led consortium Sakhalin Energy has the backing of the Japanese and British governments and the European Union over its tangle with Russian authorities. The Russian government is putting pressure on Shell and partners Mitsui and Mitsubishi over the developments on the Sakhalin II concession in what […]

Financial Post (Canada): Oilsands projects could crumble

Oilsands projects could crumble, top investor warns: Costs worry Murray Edwards: ‘You start wondering at what point are projects still economic’ Published: Sep 22, 2006 BANFF, ALTA. – Canada’s top energy investor is bullish, long-term, on both oil and natural gas, but is also wary that Canada’s oilsands sector is so overheated projects could crumble […]

Irish Independent: Shell rules out offshore gas platform for Corrib Field

Published: Sep 22, 2006 A PLATFORM nearly as high as the Empire State Building would be required to process gas from the Corrib Field offshore, Shell has claimed. Categorically ruling out the offshore alternative, Shell E&P Ireland (SEPIL) indicated that preliminary work on the onshore terminal at Bellanaboy would begin next week, despite the likelihood […]

Irish Times: Shell rules out offshore platform in Atlantic

By: Lorna Siggins, in Castlebar, Co Mayo, Irish Times Published: Sep 22, 2006 Shell E&P Ireland has firmly ruled out an offshore platform for the Corrib gas project, comparing any such structure to an “Empire State Building” in the Atlantic. The company’s new deputy manager, Terry Nolan, said that no oil or gas company would […]

The Wall Street Journal: Oil News Roundup: September 21, 2006 5:01 p.m.

THE WALL STREET JOURNAL ONLINE September 21, 2006 5:01 p.m. Crude-oil futures rebounded on the New York Mercantile Exchange, rising nearly $1 a barrel to settle at more than $61.50. Crude is still 20% below its all-time high close set in mid-July. Here is Thursday’s roundup of oil and energy news. LOST ROYALTIES: The U.S. […]

Financial Times: Sakhalin-2 casts cloud over Japan energy strategy

By David Pilling in Tokyo and Arkady Ostrovsky in Moscow: Published: September 22 2006 03:00 | Last updated: September 22 2006 03:00 Russia’s withdrawal of a permit for the $20bn Sakhalin-2 liquefied natural gas project could be a “massive blow” to Tokyo’s plans to secure a strategic energy partnership with Russia, a senior Japanese official […]

Financial Times: Premier Oil plans exploration drive

By Mark Odell Published: September 22 2006 03:00 | Last updated: September 22 2006 03:00 Premier Oil is ramping up its exploration programme over the next year by targeting nine prospects that management believes have the potential to significantly boost reserves. The oil and gas exploration and production company is planning to spend some $50m […]

Bloomberg: Shell Faces Sakhalin Grab as Putin Seeks Greater Energy Control

By Lucian Kim and Garfield Reynolds Sept. 22 (Bloomberg) — First Russian President Vladimir Putin attacked OAO Yukos Oil Co. Now it’s Royal Dutch Shell Plc. This week’s threat to shut down Shell’s $20 billion development on Sakhalin Island, the country’s biggest foreign investment, is another maneuver to force companies operating in Russia to share […]

AFP: Japanese firms talking to Russia over Sakhalin-2

AFP , TOKYO Friday, Sep 22, 2006,Page 10 Japanese stakeholders in the huge Sakhalin-2 energy project said yesterday they will continue negotiating with Russia after it revoked a permit in an apparent bid to reassert control over its resources. On Monday Russia canceled an environmental permit for a Shell-led consortium to develop the fields, threatening […]

Finance24 (South Africa): Anglo teams up with Shell

21/09/2006 11:36 By: Gareth Tredway Johannesburg – Anglo American, the global mining giant, said in a statement that it had signed a joint development agreement with oil giant, Shell on the Monash Energy project in Victoria, Australia. During next year, the first phase of the deal would have been completed, according to Anglo. This phase […]

The Herald: Russia threatens oil giants’ licences

MARK WILLIAMSON September 22 2006   Oil majors’ relations with the authorities in Russia came under renewed strain when a senior official raised the prospect of taking ExxonMobil’s licence for the giant Sakhalin-1 development off the company as a punishment for possible cost overruns. Sergei Fyodorov, head of geological and subsoil use policies at the […]

Newsday: Shell Oil donation has environmentalists concerned

BY JENNIFER SMITH Newsday Staff Writer September 21, 2006, 11:00 PM EDT Some local environmentalists have accused Shell Oil of trying to buy local support for a liquefied natural gas terminal proposed for Long Island Sound. The Shell Marine Habitat Program donated $130,500 to a federally controlled conservation fund whose grants were announced last week. […]

Platts: Shell takes September Singapore jet buying spree to 14 cargoes

Singapore (Platts)–21Sep2006 Shell, one of the largest suppliers of jet fuel in Asia, took its cargo buying this month to at least 14 shipments of 100,000 barrels each, leaving observers struggling to work out where the oil was headed.      The major, which was said by traders to have also built up a long September […]