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Posts on ‘October 5th, 2006’

slate.com: The Oil Conspiracy: Is Bush manipulating oil prices to win elections?

Is the Bush administration manipulating oil prices to win elections? By Daniel Gross Updated Wednesday, Oct. 4, 2006, at 4:03 PM ET These days, gas prices interest political consultants as much as they do truckers. Politicos believe there is a direct relationship between the price of a gallon of gas and the fortunes of Democrats […]

UpstreamOnline: Russian watchdog targets Eni

By Upstream staff Russia’s environmental agency said today it is set to start investigating a unit of Italian energy player Eni which has contracted to work on Shell’s Sakhalin 2 development. The move came a day after Eni chief Paolo Scaroni said rising pressure on Western energy companies in Russia had delayed an asset swap […]

PRNewswire: MarketWatch: Couche-Tard Acquires 236 Sites from Shell

ATD. A, ATD. B / TSX Last Update: 9:22 AM ET Oct 5, 2006 LAVAL, QC, Oct 05, 2006 /PRNewswire-FirstCall via COMTEX/ — Alimentation Couche-Tard Inc. announces that it has, through an indirect wholly owned subsidiary, Circle K Stores Inc., signed agreements to purchase 236 sites from Shell Oil Products US and its affiliate Motiva […]

RIA Novosti: Russian environmental watchdog mounts pressure on Sakhalin II

17:35 | 05/ 10/ 2006  MOSCOW, October 5 (RIA Novosti) – Russia’s environmental watchdog has submitted details to prosecutors on illegal deforestation being carried out through the Sakhalin II oil and gas project in the country’s Far East, the Natural Resources Ministry said Thursday. The vast hydrocarbon project, led by Anglo-Dutch oil major Shell, has […]

Bloomberg: Russia’s Mitvol, Prosecutors Meet Over Sakhalin Contractors

By Torrey Clark Oct. 5 (Bloomberg) — Russian Natural Resource Ministry official Oleg Mitvol met with the Prosecutor General’s Office as they investigate Royal Dutch Shell Plc’s Sakhalin-2 contractors for illegal felling of trees to build oil and gas pipelines. Mitvol gave the prosecutors evidence that Starstroi, a unit of Eni SpA, violated environmental laws […]

Bloomberg: Shell CEO Wants Gazprom as Sakhalin-2 Partner; Stake Undecided

By Stephen Voss and Brian Sullivan Oct. 5 (Bloomberg) — Royal Dutch Shell Plc would welcome state-run OAO Gazprom as a partner in its Sakhalin-2 project in eastern Russia, Shell Chief Executive Officer Jeroen van der Veer said. Gazprom’s equity share has yet to be decided. “At this moment, all the partners are foreign partners, […]

Aberdeen Press & Journal: Safety the dialogue of the deaf: *Touch Fuck All – the Brent Bravo Scandal

Published October 2006 EXTRACT: Two young men were killed on Brent Bravo on September 11, 2003, asphyxiated while working in the utilities shaft 70m below deck level. They had been sent down to fix a leaking hydrocarbon line to which a neoprene patch had been affixed by bulldog grips. A leak of oily water soon […]

The Times: Russians give Shell Sakhalin-2 ultimatum: Kremlin says renegotiate PSA terms, or sell up and go

October 05, 2006 By Julian Evans in Moscow, and Michael Binyon   THE Kremlin yesterday gave an ultimatum to Shell and ExxonMobil over their multibillion- dollar cost overruns on the $20 billion (£10.6 billion) Sakhalin-2 oil and gasfield project. Russia is demanding that Shell and Exxon either stick to original cost agreements, return to the […]

REGNUM (RUSSIA): “The Government is not working properly”: expert comments on the situation over Sakhalin-2 project

5 October 2006 The chairwoman of the State Duma Committee on Natural Resources and Ecology Natalia Komarova says that “the government is not working properly” for ensuring constant control over the implementation of the Sakhalin 2 project, reports a REGNUM correspondent. While speaking to reporters at the Far East Economic Forum in Khabarovsk on October […]

New York Times: Nigeria Kidnappers Demand Ransom, Fighting Subsides

By REUTERS Published: October 5, 2006 Filed at 5:40 a.m. ET ABUJA (Reuters) – Seven expatriate oil workers abducted in Nigeria are in good health and their kidnappers have demanded a ransom, a diplomat said on Thursday. Fighting between militants and troops in a different part of the Niger Delta subsided overnight but Royal Dutch […]

The Independent: Shell

By: Steve McCormack, – United Kingdom Published: Oct 05, 2006 What does it do? The company’s global clout is based on oil and gas. But these days, with the burning of fossil fuels widely accepted to be behind global warming, no business can survive without green credentials as well. So Shell, in addition to the […]

Irish Times: Further protests at Shell terminal

By: Lorna Siggins and Tom Shiel, Published: Oct 05, 2006 About 200 people staged an early morning protest yesterday on the second day of work at the Shell Corrib gas terminal in north Mayo. A force of 170 gardaI escorted Shell staff and contractors on to the site early yesterday. “We will remain here as […]

AP Worlstream: Oil prices rebound as Nigerian unrest renews concerns of supply disruption

By: TANALEE SMITH, AP Worldstream Published: Oct 05, 2006 Oil prices rallied Thursday after an attack against Nigerian oil workers and facilities renewed concerns of supply disruptions. Prices hit a seven-month low this week and continued to fall Wednesday after U.S. government data showed rising inventories of crude, gasoline and heating oil. But the news […]

Financial Times: Large caps prove attractive

By Ellen Kelleher in London Published: October 5 2006 03:00 | Last updated: October 5 2006 03:00 The story in the UK equity market at the moment is that large-cap stocks are looking cheap for the first time in decades, according to Martin Walker, manager of Invesco Perpetual’s UK Equity fund. Why? FTSE 100 stocks […]

Financial Times: Oil steadies as pressure for Opec cut grows

By Chris Flood Published: October 5 2006 10:58 The weak tone for commodity markets continued on Thursday as oil showed little sign of rallying after recent weakness in spite of growing speculation that the Organisation of the Petroleum Exporting Countries will cut output by at least 1m barrels a day in the near future. Crude […]

Bloomberg: Extra costs delay Eni’s $29bn Kazakh oil project

Published: Thursday, 5 October, 2006   LONDON/MOSCOW: 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 $29bn project will miss its target of pumping oil in 2008 and the development will run over budget, the […]

Daily Mirror: FEARS FOR BRIT OIL HOSTAGES

5 October 2006 FEARS grew last night for four British oil workers kidnapped in Nigeria after a deadly attack on their living quarters. They were among seven people working for oil firms seized at gunpoint in the Niger Delta a day after rebels freed 25 Nigerians captured 24 hours earlier. Among those forced from their […]

Reuters: Foreign Managers Praise Russian Investment Climate Despite Problems with Energy Projects

Created: 05.10.2006 11:20 MSK (GMT +3), Updated: 11:24 MSK   Investors in Russia pulling in record profits in areas ranging from banking to retail were defiantly upbeat about their prospects at a conference on Wednesday, Oct. 4, despite the souring atmosphere for big energy deals. Paul Melling, managing partner in Russia for international consultancy firm […]

Reuters: Kremlin official turns up pressure on Shell

Thu Oct 5, 2006 3:01 AM BST LONDON (Reuters) – A Kremlin official turned up the pressure on Royal Dutch Shell (RDSa.L: Quote, Profile, Research) over its Sakhalin oil and gas project in an interview with the Times newspaper, published on Thursday. Russia wants Shell either to keep its original cost agreement, renegotiate the terms […]

The Times: Shell needs to oil its Kremlin diplomacy

October 05, 2006 WHILE BP’s mishandling of public opinion and the political process in the US has badly damaged its reputation in the short term, Shell’s misreading of government relations in Russia threatens to do it more lasting damage. For the economics of its $20 billion Sakhalin-2 gasfield are in doubt. And while Russia’s treatment […]

The Desert Sun: County settles Shell lawsuit

Debra Gruszecki October 4, 2006 Riverside County on Tuesday announced a $6.5 million settlement involving a civil lawsuit against Equilon Enterprises and Shell Oil Co. for alleged failure to report leaking underground storage tanks at three gasoline stations in the Coachella Valley. The leaks – discovered in June 2003 by county environmental investigators in the […]

The Times: Money at the root of Kremlin’s dislike of Shell deal

October 05, 2006 By Carl Mortished FORGET whales, salmon and the preservation of the Siberian wilderness. The stand-off between Shell and the Kremlin over the giant liquefied gas project on Sakhalin Island is about dollars and cents, and not environmental permits. A huge increase in the cost of the project, announced in July last year, […]

Deutsche Presse-Agentur: Shell strikes 42-million dollar exploration deals in Syria

Damascus – The Syrian oil ministry on Wednesday signed two 20-year contracts worth 42 million dollars with Royal Dutch Shell, giving the firm the right to explore for oil and gas in northeastern Syria. Under a 20-million-dollar contract, Shell will be able to explore and excavate southwest of Deir El-Zour some 450 kilometres northeast of […]

Itar-Tass: Kremlin aide says Sakhalin Energy must transfer to Russian tax rules

04.10.2006, 20.56   MOSCOW, October 4 (Itar-Tass) – Sakhalin Energy company that develops offshore oil fields under the Sakhalin II energy project, should make an offer on changing over to Russia’s national system of taxation, Arkady Dvorkovich, the director of the Kremlin’s expert analysis department said Wednesday. This is necessary in the conditions of growing […]

The Times: Russians give Shell Sakhalin-2 ultimatum: Kremlin says renegotiate PSA terms, or sell up and go

October 05, 2006 By Julian Evans in Moscow, and Michael Binyon   THE Kremlin yesterday gave an ultimatum to Shell and ExxonMobil over their multibillion- dollar cost overruns on the $20 billion (£10.6 billion) Sakhalin-2 oil and gasfield project. Russia is demanding that Shell and Exxon either stick to original cost agreements, return to the […]

The Mayo News: Abuse claim by Shell worker

Tuesday, 03 October 2006  Anton McNulty A BANGOR businessman, who supplies machinery and equipment to Shell, has claimed he was blocked from leaving the Bellanaboy terminal site and was verbally abused by Shell to Sea supporters. Mr TJ Carey, who employs ten people through his plant and tool hire business, told The Mayo News he […]