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Posts on ‘September 23rd, 2006’

Sunday Telegraph: BP and Shell need help

Business comment By Dan Roberts, Business Editor (Filed: 24/09/2006) My colleague Robert Watts shows how the DTI could be dismantled relatively painlessly elsewhere, but one function that urgently needs to be reinvented is a Department for Energy. Proper government support for business should be about creating an internationally competitive environment, and there is no more […]

The Business Online: Royal Dutch Shell hit as Kremlin cans agreement

By Leia Parker Dow Jones Newswires Sunday 24 September 2006   THE Kremlin and NGOs make strange bedfellows. But this new pairing suggests life is going to get tougher for Western oil companies in Russia as Gazprom’s grasp over the Russian energy sector tightens. The Ministry of Natural Resources yanked a key environmental permit on […]

UpstreamOnline: Changing rules on Sakhalin…

Is the Kremlin’s environmental blocking move a concealed attempt to shift the tax goalposts? BY VLADIMIR AFANASIEV Moscow   THE onslaught by Russia’s Natural Resources Ministry and technical compliance watchdog Ros-tekhnadzor that threatens to derail the second phase of the Shell-led Sakhalin 2 project may have an environmental guise — but all the signs are […]

UpstreamOnline: Two-edge sword of resource nationalism

THERE is little doubt that “resource nationalism” as a state ideology is on a roll, whether in Bolivia, Chad or Russia. It offers local politicians a high-profile way of courting popularity and in theory offers a burst of wealth and economic independence. What could be a more welcoming sight to impoverished Latin American peasants than […] Shell’s Threat to Re-start Work in Mayo

Saturday September 23, 2006 By Terry – [email protected] Latest news from Erris: New police presence, Shell misinformation on technical difficulties of refining Corrib gas at sea, new Shell boss announces attempt to resume work next week. A number of grilled paddy wagons were seen patrolling the highways and by-ways of northwest Mayo between Crossmolina and […]

UpstreamOnline: Shell-led Sakhalin II: Pipeline work ‘wreaked environmental damage’

RUSSIAN pipeline contractor Starstroi, a joint venture between the country’s Lukoil- Neftegazstroi and Italy’s Saipem, has denied that it inflicted irreparable damage to the environment of Sakhalin Island during building of onshore oil and gas pipelines for the Shell-led Sakhalin 2 development, writes Vladimir Afanasiev. According to a September report from Russia’s technical compliance watchdog […]

Petroleum News: Exxon raises stakes in Russia standoff

Several projects impacted in battle between Western majors, Russian government, including Sakhalin 1 and 2, Kharyaga and Kovykta The Associated Press Exxon Mobil Corp. said Sept. 21 that the cost of Sakhalin-1 oil project it is leading has increased by 30 percent, an announcement that could raise the stakes in a growing industry standoff with […]

Petroleum News: Shell stopped Chukchi operations Sept. 19

Shell has said that it has no interest in the lawsuit filed by ConocoPhillips over the 120-decibel monitoring zone for bowhead whale cow/calf pairs. “We do not think it’s in Shell’s interests to pursue litigation,” Rick Fox, Shell’s asset manager for Alaska, told Petroleum News on Sept. 20. Fox said that the company instead ended […]

Petroleum News: Chukchi Sea seismic a go: Temporary injunction granted on Conoco lawsuit

Temporary injunction granted on need for 120-dB monitoring zone in Conoco lawsuit Alan Bailey When ConocoPhillips, Shell and GX Technologies embarked on their summer 2006 seismic programs in the Chukchi and Beaufort seas it seemed that the various stakeholders in the Arctic offshore environment had reached acceptable agreements on the issues relating to the potential […]

UpstreamOnline: Shell and BP build for future

TWO oil and gas supermajors have cut the ribbon on ambitious campus expansions in Houston to house their growing exploration & production businesses, writes Blake Wright. BP has launched a major three-phase growth at its Westlake complex in west Houston designed to accommodate an employee and contractor population that could grow by 2000 to about […]

UpstreamOnline: France monitoring Total in Russia

By Upstream staff France is following closely the status of French oil company Total in Russia, a spokesman for French President Jacques Chirac said. “The situation with Total is that we are looking at things with vigilance with the concern that French investments should enjoy all necessary legal security,” Chirac’s spokesman told reporters at a […]

UpstreamOnline: Sakhalin 2 hit by broadside

(with corrected headline) Building work is carrying on for Phase 2 despite ministry ruling VLADIMIR AFANASIEV Moscow   SHELL-led Sakhalin Energy is refusing to halt construction work on Phase 2 of its operated Sakhalin 2 oil and gas development project off Sakhalin Island in Russia’s far east until it receives a legally binding copy of […]

UpstreamOnline: Investor demands Western Oil Sands sale

By Upstream staff A major shareholder of Canada’s Western Oil Sands has urged the company’s management and directors to consider the sale of the company. “As a meaningful shareholder, we are officially requesting that management and the board of directors hire an advisor to seek alternatives to maximise shareholder value, and announce this to the […]

UpstreamOnline: Sakhalin 2: Building work is carrying on for Phase 2 despite ministry ruling

VLADIMIR AFANASIEV Moscow   SHELL-led Sakhalin Energy is refusing to halt construction work on Phase 2 of its operated Sakhalin 2 oil and gas development project off Sakhalin Island in Russia’s far east until it receives a legally binding copy of the Natural Resources Ministry’s order that it does so, according to a Sakhalin Energy […]

The Washington Post: Putin moves to reassure West on EADS, energy

By James Mackenzie and Christian Lowe Reuters Saturday, September 23, 2006; 11:22 AM COMPIEGNE, France (Reuters) – Russia sought to reassure France and Germany on Saturday on its plans for Airbus parent EADS and held out the prospect of more gas for Europe to ease fears over Moscow’s leverage of its growing economic clout. Putin’s […]

Houston Chronicle: Russia grabs oil field: Government takes offshore area from Exxon Mobil

By ALEX NICHOLSON Associated Press MOSCOW – An offshore oil field originally claimed by Exxon Mobil Corp. has been given to state-controlled oil giant Rosneft, a Russian government official said Friday. The Kremlin, which appears to be seeking a greater stake in the country’s natural resources at a time of high prices, has dealt a […]

UpsteamOnline: Controversial cancellation by ministry sets off investment alarm bells

THE move by Russia’s Natural Resources Ministry to cancel its approval of the environmental endorsement of Sakhalin 2 was met with a wave of concern from politicians both in the East and West, writes Valdimir Afanasiev. The European Commission said it was taking Russia’s withdrawal of the permits “very seriously” and called on Moscow to […]

THE WASHINGTON TIMES: U.S. doubts Moscow on energy

By David R. Sands September 23, 2006 The State Department yesterday sharply criticized a recent move by the Russian government to curb a major Western oil-and-gas-investment project in Siberia, saying it put in doubt Moscow’s willingness to honor major energy deals with foreign investors. Spokesman Tom Casey said the Bush administration was “very concerned” by […]

MosNews: Energy High on Agenda as Chirac Hosts Putin and Merkel in Compiegne

EXTRACT: Part of the aim of the meeting will be to ease worries over energy security which have resurfaced in a standoff with Western oil companies over huge oil and gas projects in Russia’s remote Sakhalin region. Russia, which caused deep alarm in Europe last winter by cutting off gas supplies to Ukraine, has pressured […]

The Times: Province transformed by its stinking asset

By Carl Mortished September 23, 2006     IT STINKS and it makes a horrible mess, but the black gunk that Shell and others are digging from Canada’s muskeg wasteland is transforming Fort McMurray, once a one-horse fur-trapping town in northern Alberta, into a Shanghai of the north. Alberta’s economy is rivalling China in pace of […]

MosNews: U.S. “Very Concerned” by Russia’s Move to Curb Sakhalin Project

Created: 23.09.2006 13:31 MSK (GMT +3) The State Department sharply criticized a recent move by the Russian government to curb a major Western oil-and-gas-investment project in Siberia, saying it put in doubt Moscow’s willingness to honor major energy deals with foreign investors, The Washington Times reported Saturday. Spokesman Tom Casey said the Bush administration was […]

The Times: A deal is a deal: Russia threatens Western investors at its peril

More than 3,000 miles east of Moscow, in the remote but not quite pristine wilderness of Sakhalin island and its coastal waters, the Kremlin is fighting its latest battle for control of Russia’s prodigious mineral wealth. This time the aim is not to rein in home-grown but presumptuous oligarchs. It is to rewrite the terms […]

Daily Telegraph: Kremlin ‘bullying’ leaves western energy companies furious

  (Sakhalin Energy extracts oil and gas from one of the world’s most inhospitable regions) By Adrian Blomfield in Moscow (Filed: 23/09/2006) In the past few years, mention of Vladimir Putin at the dinner table of some western leaders could have brought on a case of indigestion. In the past week, though, the Russian president […]

Daily Telegraph: Dutch pressure Putin over Sakhalin

By Roland Gribben (Filed: 23/09/2006) Diplomatic pressure on Russia to tackle the crisis over the cancellation of Shell’s environmental licence for the $20bn Sakhalin oil and gas project in Siberia increased with the Netherlands joining British protests. Jan Peter Balkenende, the Dutch prime minister, phoned President Vladimir Putin asking for an explanation about why the […]

Daily Telegraph: Oil workers run dry

By Roland Gribben (Filed: 23/09/2006) A recruitment crisis is threatening the oil and gas industry boom and dozens of important projects, a research report claimed yesterday. BP, Shell, ExxonMobil and the other big groups face ”severe stagnation” because of the failure to replace an ageing workforce. Graeme Sword, partner and head of energy at 3i, […]

Business Week: A Gusher For Big Oil Is Drying Up

Western giants used to have easy pickings in Russia. Now Moscow is taking a harder line… It’s a new world for oil companies, as Royal Dutch Shell PLC (RDS.A), Exxon Mobil Corp. (XOM), and others are learning the hard way in Russia. In the mid-1990s, the country was in economic turmoil. So the Kremlin agreed […]

The Wall Street Journal: Oil News Roundup: September 22, 2006 4:57 p.m.

THE WALL STREET JOURNAL ONLINE September 22, 2006 4:57 p.m. Crude-oil futures sank again on the New York Mercantile Exchange, tumbling more than $1 a barrel to settle at $60.55. Crude is more than 20% below its all-time high close set in mid-July. Here is Friday’s roundup of oil and energy news. * * * […]

The Wall Street Journal: Russia Favors Rosneft Over Exxon on Project

September 22, 2006 10:17 p.m.; Page A3 MOSCOW — Russia said it would grant OAO Rosneft a development license for a Pacific coast oil bloc, despite an attempt by Exxon Mobil Corp. to have the reserves counted as part of its adjacent Sakhalin-1 consortium. The move came amid crossed signals from within the Ministry of […]

The Los Angeles Times: Oil Firms Pressured by Russia

Exxon loses out when an offshore field is given to a company controlled by the state, and a key permit is pulled at a Shell project. From the Associated Press September 23, 2006 MOSCOW — An offshore oil field originally claimed by Exxon Mobil Corp. has been given to state-controlled oil giant OAO Rosneft, a […]

Gulf Times (Qatar): Shell faces Sakhalin grab as Putin seeks command

Published: Saturday, 23 September, 2006, 10:08 AM Doha Time   MOSCOW: First Russian President Vladimir Putin (above) attacked Yukos Oil Co. Now it’s Royal Dutch Shell Plc. This week’s threat to shut down Shell’s $20bn development on Sakhalin Island, the country’s biggest foreign investment, is another maneuver to force companies operating in Russia to share […]

The Independent: lubricates Chinese operation

By Michael Harrison, Business Editor Published: 23 September 2006 Shell increased its presence in China yesterday by buying a controlling stake in the country’s biggest independent manufacturer of lubricants. The price paid by Shell for the 75 per cent shareholding in Tongyi was not disclosed. But the deal will increase Shell’s share of China’s lubricants […]

The New York Times: Gas Pipeline Has Risks, U.S. Says

By THE ASSOCIATED PRESS Published: September 23, 2006 NEW HAVEN, Sept. 22 (AP) — A giant liquefied natural gas terminal proposed for Long Island Sound poses safety and security risks that would require more firefighters, escort boats and other measures to prevent accidents or terrorist attacks, according to a Coast Guard report released Friday. The […]

The New York Times: Gazprom Reaps the Benefit of Friends in the Kremlin

(Royal Dutch Shell, via PRNewsFoto: Royal Dutch Shell’s $20 billion liquefied natural gas project on Sakhalin Island is scheduled for completion and its first shipment in 2008.) By ANDREW E. KRAMER Published: September 23, 2006 MOSCOW, Sept. 22 — Gazprom, the natural gas operator, has benefited handsomely from its position as the monopoly supplier of […]

Houston Chronicle: Nigerian official says Shell to lose a license

Associated Press THE HAGUE, NETHERLANDS – The Nigerian government plans to take away Royal Dutch Shell’s oil operating license in the restive Ogoni region of the Niger Delta, an official visiting The Hague said Friday. “We are going to revoke Shell’s license to operate in Ogoniland,” Bamibele Ogedenjbe told Dow Jones Newswires.  Ogedenjbe is assistant […]

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