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Posts on ‘September 25th, 2006’

The Guardian: Russia gives out mixed messages to Shell and BP

Terry Macalister and Tom Parfitt Tuesday September 26, 2006 Western oil companies were in confusion about the investment climate in Russia last night after the government appeared to soften its position with Shell but opened a new line of attack against BP. Yuri Trutnev, natural resources minister, said there would be a full inquiry into […]

Financial Times: Moscow reassures Shell over Sakhalin

By Arkady Ostrovsky in Moscow Published: September 26 2006 01:38 | Last updated: September 26 2006 01:38 Russia had no intention of removing an operating licence from Royal Dutch Shell for Sakhalin 2, the world’s largest energy project, its minister of natural resources said yesterday. Yuri Trutnev confirmed his ministry was planning to conduct a […]

The Moscow Times: The Time Has Come to Renegotiate PSAs

Tuesday, September 26, 2006. Page 10. By Konstantin Sonin   Two leading financial newspapers, the Financial Times and The Economist, wrote last week that the “environmental attack” on Shell, the main stakeholder in the Sakhalin-2 project, had been brought about by Russia’s desire to bring foreigners to the negotiating table. This was a logical conclusion. […]

RIA Novosti: Prosecutors threaten BP venture with Siberia license revocation – 1

25/09/2006 21:11 (Recasts paragraph 2, adds paragraphs 4-9) MOSCOW, September 25 (RIA Novosti) – Russian prosecutors issued a warning Monday that a BP joint venture operating in East Siberia could have its license revoked if it fails to address environmental protection and other problems. The Prosecutor General’s Office said Rusia Petroleum [RTS: PTRL], majority owned […]

Reuters: Shell JV Deer Park refinery slows de-coking ops -state

Mon Sep 25, 2006 11:58am ET HOUSTON, Sept 25 (Reuters) Shell Oil Co.’s 334,000 barrel per day joint-venture refinery in Deer Park, Texas, slowed de-coking operations on Sunday, according to a notice filed Monday with the state pollution regulation agency. During de-coking operations, the coker released coke dust into the air, according to the notice […]

ShelltoSea.com: Corrib gas pipeline protest

Shell are threatening to start work at the Bellinaboy site, where they intend to build a giant refinery to process Corrib gas onshore. There are daily pickets at the entrance to the site, and local people are adamant that the work can not be started without their consent. In recent days there has been a […]

The Voice of Russia: RUSSIA SAYS THERE’S NO NEED TO POLITICIZE THE SITUATION

09/25/2006 Russia is strongly opposed to any politicization of economic issues that emerged during the implementation by foreign companies of the oil-and-gas project on Sakhalin Island, as Foreign Minister Sergei Lavrov said. He confirmed that Russia remained committed to its obligations and urged his country’s foreign partners to strictly observe the earlier reached agreements. He […]

Itar-Tass: Japan companies concerned over problems with Sakhalin-2 project

25.09.2006, 16.16    TOKYO, September 25 – The Japan Gas Association’s chief Akio Nomura has expressed concern over the situation around the oil and gas project Sakhalin-2 that has been suspended because of incompliance with ecological standards. A stop to the project would have serious consequences for Japan’s energy security, he told a news conference […]

Itar-Tass: WWF questions official version of mass death of fish off Sakhalin

25.09.2006, 15.30 MOSCOW, September 25 (Itar-Tass) — The World Wildlife Fund has dismissed as “not convincing” speculations the mass death of fish and animals washed ashore in the Sakhalin Island’s Aniva Bay late last week was due to a storm. “According to the Ecological Watch of Sakhalin there was no storm in the area on […]

MarketWatch: Shell Launches Website Designed to Educate Students About the World of Energy

Last Update: 11:39 AM ET Sep 25, 2006 HOUSTON, Sept 25, 2006 /PRNewswire via COMTEX/ — To encourage middle and high school students’ interest in math and science, while introducing them to the world of energy, Shell Oil Company is launching a new educational website, “Energizing Your Future with Shell” at http://www.shell.com/us/energizeyourfuture. In the energy […]

Bloomberg: Chevron, Los Alamos to Study U.S. Oil Shale Deposits (Update1)

By Stephen Voss Sept. 25 (Bloomberg) — Chevron Corp., the second-largest U.S. oil company, said it started a joint research project with the Los Alamos National Laboratory to study hydrocarbon reserves trapped in rock formations known as oil shales. Oil shales are sedimentary rocks that contain a high proportion of organic matter that can be […]

CNNMoney: Royal Dutch Shell ranks No. 3 on FORTUNE’s 2006 Global 500

September 25 2006 (Fortune) — Royal Dutch Shell (Charts) ranks no. 3 on FORTUNE’s Global 500 this year, with $306.7 billion in revenues, up 14.2% from the previous year. The Hague, Netherlands-based company was ranked no. 4 on the 2005 list. Its 2005 profits were $25.3 billion, up 39.2% from a year earlier. 2005 was […]

San Francisco Chronicle: Chavez drives a hard bargain, but Big Oil’s options are limited

Tigre, Venezuela — On the hot, shrub-covered plains around this dusty, dingy town, an odd courtship is being carried out between the world’s most prominent revolutionary and the world’s biggest oil companies. Just as there is no love between President Hugo Chavez and the Bush administration, there is little love lost between Chavez and the […]

Bloomberg: Nigeria May Revoke, Put Up for Bid, as Many as 10 Oil Licenses

By Julie Ziegler Sept. 25 (Bloomberg) — Nigeria, Africa’s biggest oil producer, may revoke as many as 10 oil licenses for the Niger delta region and put them up for bid as part of a plan to increase development in the impoverished region. Oil Minister Edmund Daukoru is reviewing recommendations to include 10 dormant oil […]

Bloomberg: Shell’s Sakhalin Project to Be Inspected by Official (Update1)

By Torrey Clark Sept. 25 (Bloomberg) — Oleg Mitvol, the Russian official who is pushing to revoke Royal Dutch Shell Plc’s environmental permit for its Sakhalin-2 oil and gas project, will inspect the project this week for environmental damage. Mitvol, the deputy head of the Natural Resources Ministry’s environmental inspectorate, will tour the project’s overland […]

RIA Novosti: Sakhalin II water samples expected this week

15:00 | 25/ 09/ 2006  MOSCOW, September 25 (RIA Novosti) – Water tests near the site of the Sakhalin Energy project off Russia’s Pacific coast are expected this week after the discovery of mass fish deaths, a global environmental organization said Monday. Dead crabs and fish appeared September 21-22 on a strip of 10 kilometers […]

kommersant: Ministry to Make Financial Claims against Sakhalin Energy

Sep. 25, 2006 Russia has found a new way to pressure the participants in Sakhalin 2. A complex audit by Rosprirodnadzor, the federal resources supervisory service, of the project begins today and may lead to stiff financial claims being made against the operator company, Sakhalin Energy, when it is finished. Officials are making every assurance […]

Reuters: Environmental probe ordered into Sakhalin-2

Mon Sep 25, 2006 3:52 PM BST MOSCOW (Reuters) – Russia’s environmental agency has ordered a full environmental investigation into the Shell-led Sakhalin-2 oil and gas project, the Natural Resources Ministry said in a statement on Monday. But Natural Resources Minister Yuri Trutnev said the investigation should only cover environmental aspects of the $20 billion […]

SAN FRANCISCO CHRONICLE: Chavez wins allies with oil, anti-Bush rhetoric

Published: September 25. 2006 3:00AM Nation/World Venezuela now tops U.S. in aid to Latin America September 25, 2006 BY ROBERT COLLIER CARACAS, Venezuela — He pops up almost everywhere — Africa, Asia, the Mideast, South America and at the United Nations last week, denouncing U.S. policy with revolutionary fervor. Like a recurring bad dream for […]

Email to Jeroen van der Veer: Resolving the Sakhalin II impasse

25 September 2006 Dear Mr Van der Veer I received an email from a Shell insider this morning containing a timely proposal which, although partly tongue-in-cheek, I believe actually has considerable merit in regard to resolving the Sakhalin II impasse. As you will see, it also has other advantages. I therefore thought it appropriate to […]

Houston Chronicle: Royal mess

EXTRACT: The New York Times reported that two auditors claim Shell Oil Co. inflated transportation costs to avoid paying $18 million in royalties. THE ARTICLE Sept. 24, 2006, 9:59PM Lawsuits and testimony suggest the U.S. Interior Department has forgotten its duty to the public. In 1998 and 1999, U.S. Interior Department officials incompetently botched leases […]

Dow Jones Newswires: Sakhalin Energy Signs 2 Services Contracts For $100 Million Each

Monday September 25th, 2006 / 9h37  MOSCOW -(Dow Jones)- Sakhalin Energy said Monday it signed letters of intent for service provision during phases one and two of the Sakhalin II oil and gas project with two companies. The contracts are valued at about $100 million each. The first Letter of Intent for the long-term maintenance […]

UpstreamOnline: Business as usual at Sakhalin

By Upstream staff Monday 25 September 2006 Shell and ExxonMobil said today it was business as usual at their projects on Russia’s Sakhalin Island, despite a political row over the Kremlin’s tough line on rising costs. The Sakhalin 1 and Sakhalin 2 projects, led by ExxonMobil and Shell respectively, have drawn criticism from Russia’s Natural […]

Deseret Morning News: Battle over oil (*the Ogoni of Utah?)

(Deseret Morning News graphic)   EXTRACTS: During the litigation, lawyers have found corruption, fraud, horrible mismanagement and gaping holes in the accounting system by which Indians were paid for oil on their land, Cobell said.”What’s wrong with this picture when we have someone who is living in a shack and they have four oil wells pumping […]

Australasian Investment Review: Gas/Coal to Oil

EXTRACT: The Victorian Government has just given the greenlight to a 50-year mining licence for a $5 billion joint project by from Shell Oil Group and Anglo American to convert Latrobe Valley brown coal into diesel fuel. THE ARTICLE Sydney, Sept 25, 2006 (ACN Newswire) – You are going to hear a lot about gas/coal […]

Interfax: Putin: proceedings against Total no reason to “panic”

Sep 25 2006 9:03AM COMPIEGNE, France. Sept 25 (Interfax) – Russian President Vladimir Putin on Saturday confirmed that the Russian government had “grievances” against French oil company Total concerning its operations at a Russian oil field but added, “there is nothing that should cause any panic.” Putin was speaking to reporters in Compiegne after talks […]

Daily Telegraph: Oil men risk delays as costs spiral

EXTRACT: Shell’s overall capital investment this year is up almost $4bn to $19bn, including the higher capital cost bill. About 55pc of the $10bn-$11bn allocated for upstream oil and gas projects is targeted to ramping up new schemes, including the $20bn Sakhalin programme where Russian intervention is threatening the timetable. By Roland Gribben (Filed: 25/09/2006) […]

The New York Times: The Coast Guard on Broadwater

EXTRACT: The project, a joint venture of Shell and the TransCanada Corporation, has already been charged, tried and convicted of being an industrial menace…   Published: September 24, 2006 It is fair to say that the local reaction to the giant floating natural gas depot that Broadwater Energy has proposed for Long Island Sound has […]

AFX Europe (Focus): Australia’s Woodside evaluating possible gas discovery near Pluto field

Published: Sep 25, 2006 SYDNEY (XFN-ASIA) – Woodside Petroleum Ltd said it may have made a new gas discovery in same 100 pct owned permit off the north west coast of Australia that contains the Pluto gas field which Australia’s largest pure oil and gas company plans to develop as a liquefied natural gas (LNG) […]

Financial Times: Industry left to cool heels a little longer

By Kevin Morrison Published: September 25 2006 03:00 | Last updated: September 25 2006 03:00 The long awaited arrival of a commercial technology that could significantly alter the incomes of big Qatar gas producers has been put on hold until the new year, leaving the energy industry and financiers to cool their heels before they […]

Financial Times: Fostering liaisons with business

EXTRACT: Andy Brown, Shell’s country chairman in Qatar, says the research the company will undertake “is directly related to and responds to the needs of our business” in the country. In relation to the gas-to-liquids project he has been working on, he says: “It will be great to look at how to use the by-products […]

The Independent: Russia holds out olive branch to Shell

Minister says country is ‘long way’ from backing out of 1993 deal. US adds voice to concerns By Susie Mesure Published: 25 September 2006 Russia attempted to defuse the growing diplomatic crisis over its threats to strip Shell of its licence to operate the $20bn (£10.5bn) Sakhalin-2 oil and gas project yesterday, insisting it was […]

The Wall Street Journal: Shell Weighs Legal Response

Sakhalin Controversy Deepens Amid Signs Of Dispute in Moscow A WALL STREET JOURNAL NEWS ROUNDUP September 25, 2006 Managers at Royal Dutch Shell PLC are looking at legal options that could help overcome the cancellation of an environmental permit for a $20 billion project in Russia, people familiar with the matter said late Friday. Last […]