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Posts on ‘October 4th, 2006’

Reuters: Russia tells Dutch will start talks with Shell soon

Wed Oct 4, 2006 2:09pm ET AMSTERDAM, Oct 4 (Reuters) – Two Russian ministries assured Dutch Economy Minister Joop Wijn on Wednesday that Moscow will soon start talks with Shell (RDSa.L: Quote, Profile, Research) to try to resolve the crisis over the Sakhalin-2 project, Wijn’s spokesman said. Russian Deputy Energy Minister Andrei Reus and Economy […]

Associated Press: Militants say 9 dead in attacks in Nigerian oil-rich southern delta

Wednesday October 04, 2006 By DAN UDOH Associated Press Writer PORT HARCOURT, Nigeria (AP) Militants battled security forces in Nigeria’s oil-rich southern delta Wednesday after armed men attacked a oil company convoy and a pumping station, officials said. Militants said in an e-mail that nine people were killed in fighting with government forces in fighting […] Oil Rebounds As Fighting Flares In Nigeria

8:38 am, Thursday 05 Oct 2006    Oil prices have rebounded after fighting between rebels and government troops in oil exporting country Nigeria. U.S. crude rose 73 cents to $US59.41 a barrel, after falling to an 8-month low of $US57.75. London Brent rose 79 cents to $US59.22. Nigerian rebels and troops were engaged in a […]

RIA Novosti: Environmental violations on Sakhalin

18:34 | 04/ 10/ 2006 YUZHNO-SAKHALINSK-MOSCOW. (RIA Novosti commentator Tatyana Sinitsyna) “I have seen so many gas and oil pipelines in different countries, but I have never witnessed the construction methods used by the Sakhalin Energy company in Russia,” said Deputy Director of Russia’s Federal Service for Environmental Supervision (FSES or Rosprirodnadzor in Russian abbreviation) […]

Reuters: At least 5 foreign oil workers abducted today in Nigeria

Wednesday October 4, 2006 By Tom Ashby   LAGOS – Suspected militants invaded a residential compound for foreign oil workers in Nigeria today, killing two guards and kidnapping at least five expatriates, oil industry sources said.   The workers — including three Britons and two Malaysians — were taken from the compound in Eket, close […]

Radio Free Europe : CIS: Region’s IPOs Attracting Interest Despite Sakhalin Dispute

(Former Tukos CEO, Mikhail Khodorkovsky, in the frame.) LONDON, October 4, 2006 (RFE/RL) — Companies from all over the world head to the London Stock Exchange when they need to attract international investment and raise development capital. Firms from Russia and elsewhere in the CIS are among the latest to head to London to launch […]

Arkansas Democrat-Gazette: Shell chief: …Shell is proud of the job it’s done in Nigeria

Headline: Finding resources key BY BILL W. HORNADAY Posted on Wednesday, October 4, 2006 As president of Shell Oil Co., John Hofmeister is a natural target for some of the most oftenasked questions in the energy industry: Why are fuel pump prices so up or down ? And how is the oil industry spending some […] 16 hostages freed in Nigeria

04/10/2006 14:52  – (SA)   Lagos – Niger Delta militants on Wednesday released 16 remaining oil employees of a sub-contractor to Anglo-Dutch oil giant, Shell, two days after kidnapping a group of workers, said an industry spokesperson. According to the spokesperson: “I can confirm that the remaining hostages were released this morning. They were 24 or […]

Reuters: UPDATE 2-Kremlin says not trying to oust foreign oil majors

Wed Oct 4, 2006 8:59 AM ET (adds quotes, Gazprom on Sakhalin-2, Exxon Sakhalin-1 loading) By Elif Kaban MOSCOW, Oct 4 (Reuters) – Russia is not seeking to oust foreign oil majors operating big production-sharing agreements (PSAs), but will not agree to massive cost overruns at these projects, a Kremlin official said on Wednesday. Arkady […]

Reuters: Shell says all abducted staff in Nigeria released

04 Oct 2006 10:05:42 GMT Source: Reuters LONDON, Oct 4 (Reuters) – All Royal Dutch Shell workers kidnapped in Nigeria this week have been freed by their captors, a company spokeswoman said on Wednesday. Attackers abducted about 25 Nigerian staff of a Shell contractor on Monday following a raid on a convoy of boats supplying […]

Bloomberg: Eni’s Kazakh Project, Cornerstone of Growth, Delayed (Update1)

By Eduard Gismatullin and Nariman Gizitdinov Oct. 4 (Bloomberg) — Eni SpA and partners in the Kashagan oil field in Kazakhstan, the biggest discovery in three decades, risk years of delays because of design changes and extra costs. The $29 billion project will miss its target of pumping oil in 2008 and the development will […]

Bloomberg: Japan Aims to Beat Shell, Sasol With GTL Technology (Update1)

By Megumi Yamanaka Oct. 4 (Bloomberg) — Inpex Holdings Inc. and five other Japanese companies are joining to develop gas-to-liquids technology, aiming to cut plant building costs and enabling them to beat GTL front-runners Royal Dutch Shell Plc and Sasol Ltd. The Japanese companies will build a demonstration plant and develop gas-to-liquids capability by the […]

Bloomberg: ConocoPhillips May Join Shell to Explore Kazakh Oil Field

By Nariman Gizitdinov and Eduard Gismatullin Oct. 4 (Bloomberg) — ConocoPhillips, the third-largest U.S. oil company, is in talks with the Kazakh government about joining an offshore exploration project in the Caspian Sea that is already being sought by Royal Dutch Shell Plc. The two companies are seeking stakes in the Nursultan oil fields, which […]

Associated Press: Kremlin Turns Up Heat on Shell Project

Oct. 4, 2006, 5:13AM © 2006 The Associated Press MOSCOW — The Kremlin turned up the pressure on a giant Shell-lead energy project Wednesday after a top economic adviser to the president said Russia would never accept a doubling of its costs, the Interfax news agency reported. “It was clear that the Russian side would […]

Bloomberg: Russia to Reject Shell Sakhalin Budget Request (Update1)

By Lucian Kim Oct. 4 (Bloomberg) — The Russian government won’t approve Royal Dutch Shell Plc’s request to increase the budget for its Sakhalin-2 oil and gas venture, which has been threatened with delays amid calls for a greater local role in the country’s biggest foreign-run energy project. Shell’s request to double to $20 billion […]

Reuters: Sakhalin II $20 billion cost overrun

MOSCOW, Oct 4 (Reuters) – Russia is not seeking to oust foreign oil majors operating big production sharing deals, but will not agree to massive cost overruns at these projects, a Kremlin official said on Wednesday. Arkady Dvorkovich, head of the Kremlin’s economic research department, said the state was particularly concerned by Royal Dutch Shell’s […]

The Guardian: Kremlin attack dog vows to take on Shell in the battle of Sakhalin

The struggle to wrest control of resources from western companies is the backdrop to tension in Russia and Africa Tom Parfitt in Yuzhno-Sakhalinsk Wednesday October 4, 2006 It was a face-off that seemed to encapsulate the growing conflict between a bullish Kremlin and the foreign oil companies working in Russia. On one side was Oleg […]

The Wall Street Journal: Oil News Roundup: October 3, 2006 7:16 p.m.

THE WALL STREET JOURNAL ONLINE October 3, 2006 7:16 p.m. Crude-oil futures tacked a 4% slide onto Monday’s 3% haircut, settling at less than $59 a barrel on the New York Mercantile Exchange for the first time since February. Rising global supplies, slack demand and a mild Atlantic hurricane season have contributed to oil’s steep […]

The Wall Street Journal: Nigerian Militants Kidnap Foreign Oil Workers

Associated Press October 3, 2006 7:20 p.m. PORT HARCOURT, Nigeria — Security officials said militants kidnapped several foreign oil workers Tuesday in Nigeria’s oil-rich southern delta region, a day after 25 Nigerians were taken hostage in an attack on a military convoy escorting oil workers. Police officers in the town of Ekit, outside the main […]

Lloyds List: Oil workers abducted in Nigeria

Published: Oct 04, 2006 SECURITY problems in the Niger Delta have escalated after 25 Nigerian workers were abducted during an attack on a convoy of barges, writes Martyn Wingrove . Local militants attacked the service barges in the Cawthorne Channel, killing up to 10 soldiers and capturing offshore contractors working for Royal Dutch Shell. It […]

Irish Independent: Big garda presence clears way for work on pipeline to resume

Published: Oct 04, 2006 A LARGE contingent of gardai will again be on duty in north Mayo this morning to ensure construction workers can enter the controversial Shell terminal for the Corrib Gas pipeline. Up to 170 gardai were drafted into the Bellanaboy area early yesterday morning to make sure work at the 200m site […]

Irish Times: GardaI to escort Shell workers again today

By: Lorna Siggins, Western Correspondent, in Erris, Co Mayo, Irish Times Published: Oct 04, 2006 A large Garda contingent is expected to be on duty in north Mayo again today to escort Shell staff and contractors into the Corrib gas terminal site in Bellanaboy. GardaI yesterday removed protesters and placed them behind crash-barriers. They also […]

The Independent: N Sea producers forced to give gas away

By: Michael Harrison, The Independent – United Kingdom Published: Oct 04, 2006 Britain’s big energy suppliers came under renewed pressure to cut bills yesterday after wholesale gas prices fell below zero, forcing North Sea producers to pay customers to take supplies off their hands. In a highly unusual development, spot prices fell to minus 5p […]

FT: Small oil operating ‘below the radar’: big beasts of the energy world stalked by the Russian authorities

By Ed Crooks, Energy Editor Published: October 4 2006 03:00 | Last updated: October 4 2006 03:00 While the big beasts of the energy world are being stalked by the Russian authorities, some of their tiny competitors are making a living in niches out of sight of the Kremlin. Several Aim-listed companies are involved in […]

Reuters: UPDATE 3-At least 5 foreign oil workers abducted in Nigeria

Tue Oct 3, 2006 8:04pm ET By Tom Ashby LAGOS, Oct 3 (Reuters) – Suspected militants invaded a residential compound for foreign oil workers in Nigeria on Tuesday, killing two guards and kidnapping at least five expatriates, oil industry sources said. The workers — including three Britons and two Malaysians — were taken from the […]