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Posts on ‘September 28th, 2006’

International Herald Tribune: Shell ordered to halt premium diesel fuel sales in Argentina

EXTRACT: Last year, President Nestor Kirchner called on Argentines to boycott Shell after it raised local prices amid rising oil costs. Shell quickly nudged pump prices back down after government-aligned protest groups marched on its stations and sales slumped. THE ARTICLE The Associated Press: Published: September 28, 2006 BUENOS AIRES, Argentina The Argentine unit of Royal […]

International Herald Tribune: Shell ordered to halt premium diesel fuel sales in Argentina

EXTRACT: Last year, President Nestor Kirchner called on Argentines to boycott Shell after it raised local prices amid rising oil costs. Shell quickly nudged pump prices back down after government-aligned protest groups marched on its stations and sales slumped. THE ARTICLE The Associated Press: Published: September 28, 2006 BUENOS AIRES, Argentina The Argentine unit of Royal […]

The Washington Post: Warming trend is hatching a business

EXTRACT: No one is on the sidelines in Europe. Power generators now count greenhouse gases — measured in metric tons of carbon dioxide — as one of their costs. “It’s going to change the way you make decisions about deploying capital,” says Garth Edward, trading manager for environmental products at Royal Dutch Shell PLC, which […] Sakhalin 2 Oil And Gas Work Causing Great Damage Warns Ecologist

Oil and gas exploration by Royal Dutch Shell and Japanese partners has caused extensive environmental damage on Russia’s far eastern island of Sakhalin, a leading German ecologist said Thursday. Species at risk from drilling and production include the rare grey whales in the Piltun Bay at the north end of Sakhalin, Ralf Sonntag, head of […]

RTE News (Ireland) Shell to modify route of pipeline

28 September 2006 17:56 Shell Ireland says it intends to modify the route of the Corrib gas Pipline in Co Mayo. Lawyers for the company told the High Court that Shell Ireland would do this in consultation with the local community.  The High Court has given Shell Ireland permission to begin the process of discontinuing […]

Houston Chronicle: Russia Watchdog Seeks to Halt Project

Sept. 28, 2006, 11:23AM By ALEX NICHOLSON AP Business Writer © 2006 The Associated Press MOSCOW — Russia’s environmental watchdog called Thursday for pipe-laying work to be halted at a Royal Dutch Shell PLC-led project on Russia’s Far Eastern Sakhalin island even as the country’s foreign minister said any problems could be resolved through dialogue. […]

Daily Mail: Shelling out for takeovers: Shell will have to weigh into the takeover market or risk being gobbled up

EXTRACT: Nevertheless, it is seen as inevitable that at some point Shell will have to weigh into the takeover market or risk being gobbled up itself. THE ARTICLE 28 September 2006 Oil prices may be falling now but the appetite for finding and building reserves is growing. The minor league takeover battle for Australia’s Hardman […]

UpstreamOnline: Lavrov urges Sakhalin partners to talk

By Upstream staff Russia’s Foreign Minister Sergei Lavrov today urged the Sakhalin 2 consortium to resolve a simmering crisis over the $20 billion Shell-led venture by talking with the Russian side. Lavrov told a news conference on Sakhalin island that he had observed “from the management of Sakhalin Energy a sincere wish to resolve these […]

RIA Novosti: Sakhalin II pipeline must be closed – ecology official

16:34 | 28/ 09/ 2006  YUZHNO-SAKHALINSK, September 28 (RIA Novosti) – A deputy head of Russia’s environmental watchdog said Thursday that pipeline construction under the massive Sakhalin II oil and gas project in Russia’s Far East must be stopped. “Further work to build the Sakhalin II pipeline as it has been done to date is […]

KAZINFORM (Japan): Tokyo hopes Moscow is law-guided in handling Sakhalin-2 problems

TOKYO, September 28, 2006. KAZINFORM. – Japan’s government hopes that Moscow will handle the ecological problems confronting the oil and gas project Sakhalin-2 in keeping with Russian laws, First Vice Minister of Economy, Trade and Industry Takao Kitabata said. He told a news conference on Thursday that Tokyo would watch the developments over the project, […]

Reuters: FACTBOX-Russia’s environmental worries on Sakhalin

28 Sep 2006 13:39:50 GMT Source: Reuters MOSCOW, Sept 28 (Reuters) – Russia has ordered a full environmental probe of Royal Dutch Shell’s $20 billion Sakhalin-2 oil and gas development in the Russia’s Far East. Russia’s environment watchdog RosPrirodNadzor says that Sakhalin Energy, the project operator, persistently violates environmental legislation. In 2003, Russia’s State Environmental […]

Reuters: Update 1: Russia watchdog accuses Shell of barbaric activity

By Elif Kaban and Michael Stott MOSCOW, Sept 28 (Reuters) – A top Russian environment official stepped up his attacks on the Royal Dutch Shell-led $20 billion Sakhalin energy project on Thursday, saying Moscow wanted damages for every destroyed tree or damaged river. “If criminal cases are opened for everything, the company will read the […]

Irish Independent: Shell denies trying to avoid disclosure of Corrib documents

13:13 Thursday September 28th 2006  Lawyers for Shell Ireland have refuted suggestions that their bid to withdraw their case against six landowners in north Mayo is so the company can avoid an order made for discovery of documents. They have told the High Court that instead this move arises directly out of its decision to […]

Dow Jones Newswires: PSAs Still Shield Oil Companies from Cost Overruns

By Matthew Allen      Dow Jones Newswires      LONDON Sep 27, 2006 (Dow Jones Newswires) Production-sharing agreements like those in place at Russia’s Sakhalin liquefied natural gas project offer higher levels of protection from project cost overruns than royalty and taxation mechanisms, despite hyper-inflation in the oil industry, a report by consultants Wood Mackenzie said Wednesday. Such […]

MosNews: Russia Watchdog Values Environmental Damage from Sakhalin-2 at $50Bln

Photo from Created: 28.09.2006 11:26 MSK (GMT +3), Updated: 11:26 MSK The deputy head of Russia’s environmental watchdog Rosprirodnadzor Oleg Mitvol told reporters on Thursday, Sept. 28, that Shell’s Sakhalin-2 oil and gas project has brought about more than $50 billion in environmental damages. According to Mitvol, this figure is composed of the cost […]

The Russia Journal: scandal surrounding Sakhalin-2…

September 28, 2006 Headline: Russian officials calculate damage from Sakhalin-2 MOSCOW – Environmental damage from Sakhalin-2 project could top $50 billion, Oleg Mitvol, Deputy Director of Russia’s Federal Service for Environmental Supervision (Rosprirodnadzor) told reporters on Wednesday. He was commenting on remarks his company could suffer direct losses of $10 billion if the project is […] Russian Natural Resources Ministry may halt Sakhalin 2 Project

28 Sep 2006 05:56 GMT Russian natural resources ministry will halt implementation of Shell Company’s Sakhalin 2 oil and gas Project, if its participants do not guarantee environmental safety of the pipeline, on September 26, the ministry’s head Yuri Trutnev stated. He is quoted by NTV-Channel as saying that the final decision concerning the matter […]

Daily Telegraph: Database: Energy; Thursday 28 September 2006

• Royal Dutch Shell’s Sakhalin-2 oil and gas project may have caused ecological damage exceeding $50bn, Prime-Tass reported, citing Oleg Mitvol, the deputy head of the Natural Resources Ministry’s environmental inspectorate. • Russia is stepping up environmental checks on Royal Dutch Shell and other overseas oil producers because of public demands for compliance, Foreign Minister […]

AP Worldstream: Report: Nigerian politicians allied with hostage-taking militants

By: KATHARINE HOURELD Published: Sep 27, 2006 Nigerian politicians have started allying themselves with militant groups that have kidnapped foreign oil workers as elections approach, says a report released Thursday by an international think tank. The report by Brussels-based International Crisis Group says that while militant groups have exploited frustration with government corruption to ensure […]

Lloyds List: Sakhalin II project sells 98% of its LNG cargoes

By: Martyn Wingrove, Lloyds List Published: Sep 28, 2006 SAKHALIN Energy has sold 98% of its liquefied natural gas forward cargoes for Russia’s first LNG project and will consider building a third train. The Shell-led consortium has to formally approve one more LNG contract and then will have almost all of its gas production booked […]

Lloyds List: Shell joins Samsun Ceyhan pipe build

Published: Sep 28, 2006 ROYAL Dutch Shell has joined Italian oil firm Eni to build an oil pipeline across Turkey to take Black Sea oil to the Mediterranean, writes Martyn Wingrove. The Anglo-Dutch oil major is looking to pump its future Kazakhstan oil production from the Black Sea port of Samsun to the tanker terminal […]

Lloyds List: Broadwater survey stokes local anger

By: Opponents claim proposed floating LNG terminal has security and safety shortcomings, writes Rajesh Joshi in New York, Lloyds List Published: Sep 28, 2006 A US Coast Guard assessment of the proposed Broadwater liquefied natural gas terminal in New York’s Long Island Sound has set off a renewed round of opposition to the controversial project. […]

The Japan Times: Russia’s halt of Sakhalin-2 oil project decried

Thursday, Sept. 28, 2006   YUZHNO-SAKHALINSK, Russia (Kyodo) Ambassador to Russia Yasuo Saito on Wednesday criticized the order by the Russian Ministry of Natural Resources to suspend part of the Sakhalin-2 oil and natural gas development project as “lacking transparency.” But Valery Garipov, chairman of the Subcommittee for Development of Oil Industry at the Chamber […]

The Wall Street Journal: Oil News Roundup: September 27, 2006 5:56 p.m.

THE WALL STREET JOURNAL ONLINE September 27, 2006 5:56 p.m. After falling in early trading, crude-oil futures soared nearly $2 a barrel to settle at about $63 on the New York Mercantile Exchange, in what may have been a technical bounce. Here is Wednesday’s roundup of oil and energy news. * * * 7-ELEVEN DROPS […]

The Wall Street Journal: Russia Doesn’t Plan to Scrap Shell’s Oil-and-Gas Venture

A WALL STREET JOURNAL NEWS ROUNDUP September 28, 2006 Russia’s foreign minister said the Kremlin didn’t want to scrap the contract for a $20 billion Royal Dutch Shell PLC oil-and-gas venture and wasn’t seeking to push foreigners out of its energy sector. But as Sergei Lavrov sought to soothe fears over the energy projects, Russia’s […]

The Times: Putin takes hard line on Shell Sakhalin dispute… ominious twist last night

September 28, 2006 From Tony Halpin in Moscow   RUSSIA’S dispute with Shell over the future of the Sakhalin-2 project took an ominous twist last night when President Putin demanded government action against companies that break licensing agreements. Mr Putin, in a televised meeting with Yuri Trutnev, the Natural Resources Minister, said: “I am counting […]

The Times: Pitlane formula for track success

September 28, 2006 Profile Lisa Lilley tells Sarah Campbell what it’s like being a member of Shell’s support crew to the Ferrari Formula One team    “SINCE the end of January I haven’t eaten any chocolate,” Lisa Lilley says proudly. This is not something that seems immediately relevant to her role as technology manager in […]

The Guardian: Campaigners attack Shell’s charity arm over Sakhalin talks

· Foundation chief spoke up for firm at Benn meeting · Green group says body is ‘a charade and a con’ Rob Evans and Terry Macalister Thursday September 28, 2006 An attempt by Shell to portray itself as a model of corporate social responsibility was undermined last night after Whitehall documents showed its charitable arm […]

Seeking Alpha: With Royal Dutch Shell, Size Really Matters

Sep 27th, 2006 with stocks: RDS.A Hilary Kramer ( submits: In 2004, Royal Dutch Shell PLC (RDS.A) suffered some bad news when it had to revise its reserves downwards to a significant degree. Since then the company has been reorganizing to streamline decisions and improve accountability, and it has been working hard to improve its […]

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