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Posts on ‘October 12th, 2006’

The Guardian: Warming will cost trillions, says report

· Damage forecast to cost 8% of global GDP by 2100
· UK ‘faces droughts and floods costing billions’

Larry Elliott, economics editor
Friday October 13, 2006

Failure to take action to combat climate change will cause environmental catastrophe and cost the global economy $20 trillion (£10.8 trillion) a year by the end of the century, the pressure group Friends of the Earth says today.

In a report based on research from more than 100 scientific and economic papers, the group says allowing global warming to continue unchecked will mean a temperature rise of 4C by 2100, causing economic damage worth up to 8% of global GDP. read more

Philippine Daily Inquirer: More than just CEOs, communicators, too: ‘Shell Tipid Tips’

By: Tina Arceo-Dumlao
Published: Oct 13, 2006

ICONIC EXECUTIVE officers such as Apple Computers Steve Jobs, General Electrics Jack Welch, Microsofts Bill Gates and Chryslers Lee Iacocca have another thing in common aside from being geniuses at marketing, management and finance.

They were all great communicators.

CEOs like them understood that they are also being paid to effectively convey to the consumers, government regulators, stockholders and the general public what their corporation is doing and how they are doing it. read more

Asia Pulse: INDIA’S GSPC PICKS 4 ENERGY GIANTS FOR STAKE SALE IN GAS BLOCK

Published: Oct 13, 2006

NEW DELHI, Oct 13 Asia Pulse – Gujarat State Petroleum Corp (GSPC) has called for bids by November 2 from four shortlisted global energy majors including Chevron, British Petroleum and ENI for selling 30 per cent stake in its gas rich KG-OSN-2001/3 block off the east coast.

“Financial bids will be opened on November 2,” GSPC managing director D J Pandian told reporters here.

Chevron Corp of US, BP Plc, BG Group of UK and Italy’s ENI, who were shortlisted from about 13 firms that expressed interest in picking a stake in the 20 trillion cubic feet gas discovery in the KG Basin, have been asked to submit final bids. read more

AP Worldstream: Oil rises above US$58 a barrel after Norway shuts down two offshore platforms

By: GILLIAN WONG,
Published: Oct 13, 2006

Oil prices rose Friday on news that U.S. heating oil inventories fell and that Norway ordered production shut down at two offshore platforms, sharply reducing flows from the world’s third-largest oil exporter.

Light, sweet crude for November delivery gained 33 cents to US$58.19 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore. The contract edged up 27 cents to close at US$57.86 a barrel Thursday.

In Norway, safety authorities on Thursday ordered a production shutdown at two offshore platforms. But the fields’ operators _ state oil company Statoil ASA and the Norwegian branch of Royal Dutch Shell PLC _ were likely to keep the fields running at least until they meet safety officials on Friday. read more

Post and Courier Charleston: Shell to shut local facility: 78 to lose jobs as company moves operation

Thursday, October 12, 2006
BY MICHAEL BUETTNER 

Shell Oil Products U.S. is closing its North Charleston lubricants operation and eliminating the jobs of the 78 people who work there in a move to concentrate production at its other facilities around the country.

The company is working with employees to help them through the transition, said Shell spokeswoman Tricia Singer.

Singer said Shell is “continuously evaluating” its operations for opportunities to increase efficiency.

“We have found a way to maximize capacity through our other facilities,” making the North Charleston terminal unnecessary, she said. read more

Alaska Journal of Commerce: Exxon Mobil wrangles with Russian government over permits, acreage

By Tim Bradner
For Web posting Sunday, October 15, 2006

YUZHNO, Russia – Shell’s big Sakhalin 2 project isn’t alone in having political problems with the Russian government. The Exxon Mobil-led Sakhalin 1 group now has its own set of challenges.

The consortium is loading the first export tanker at the new De Kastri oil terminal, but government environmental agencies have been raising issues over whether the final permits will be issued to allow the tanker to sail. It is now scheduled to depart Oct. 15. read more

Alaska Journal of Commerce : Oil, gas transforming Russian Far East

Exxon Sakhalin

(Russian construction crews lay brick tiles in late September for a sidewalk in front of the new Exxon office building in downtown Yuzhno-Sakhalinsk in Russia’s Far East. PHOTO/Rob Stapleton/AJOC)   

By Tim Bradner 
 
YUZHNO, Russia – This gritty city on the south end of Sakhalin Island, Russia’s oil-rich province in its far east, shows the face of a modernizing Russia.

In the early morning, streets are busy with traffic and smartly dressed young women and men who stride purposefully to work in modern office buildings. read more

Alaska Journal of Commerce: Despite hurdles, Shell says Sakhalin project is on target

 Ian Craig, CEO, Sakhalin Energy

(Shell Oil’s Ian Craig discusses the future of the Sakhalin 2 project at a late September conference in Yuzhno in Russia’s Far East. PHOTO/Rob Stapleton/AJOC)  

For publication Sunday 15 October 2006  

By Tim Bradner 
 
YUZHNO, Russia – Sakhalin Energy Investment Co., the Shell-led consortium developing the $20 billion Sakhalin 2 liquefied natural gas project, is facing political issues with the Russian federal government, but managers on the project say these will be resolved and the massive project will be completed on schedule, in 2008.
read more

Duke University: Shell Oil President To Speak at Duke on Oct. 19

John D. Hofmeister will offer his vision for ensuring that the United States has the energy it needs to meet future demand

Thursday, October 12, 2006

Durham, NC — John D. Hofmeister, president of Shell Oil Company, will give a free public talk, “How Can the U.S. Ensure Energy Supply for the Future?”, at Duke University on Thursday, Oct. 19.

Environment and Earth Sciences

The talk, at 4 p.m. in room 111 of Duke’s Biological Sciences Building, will be followed by an open question-and-answer session. The event is sponsored by the Nicholas School of the Environment and Earth Sciences’ Office of the Dean. read more

Houston Chronicle: Global Warming Fight Helps Economy-Report

Oct. 12, 2006, 12:13PM
© 2006 The Associated Press

LONDON — Combating global warming won’t bankrupt Britain’s economy and could be worth billions for business, says an oil company-sponsored report released Thursday.

The cost of action will amount to 0.3 percent of Britain’s economic output, but that works out to business opportunities worth $55 billion over the next decade, said the report published by Shell UK, a subsidiary of Royal Dutch Shell PLC, as part of its Springboard project to encourage business action on global warming. read more

Interfax: Foreign auditors shouldn’t be hired to audit Russian budget – Stepashin

Oct 12 2006 3:45PM

MOSCOW. Oct 12 (Interfax) – Chairman of the Audit Chamber Sergei Stepashin has spoken out against hiring foreign auditing companies to audit the use of the Russian budget.

“I think it is a totally wrong idea to hire auditing companies, including foreign firms, to audit the use of the budget,” he said on Thursday. “Despite the fact that this is a direct violation of Article 101 of the Russian Constitution, such proposals are being seriously considered by the Finance Ministry,” he said. read more

ChennaiOnline: Shell’s new retail fuel station

Chennai,Oct 12: Shell India Marketing Ltd, a wholly owned subsidiary of the Royal Dutch/Shell Group today launched a new retail fuel station in Chennai.

The retail station is the company’s 18th in the country and the sixth in Chennai, Paul Stone, vice president, retail strategy and portfolio, Shell International Petroleum Co.Ltd said.

The new retail station was launched at Pallikaranai near Velachery in the city. (Our Correspondent) 
 
Published: Thursday, October 12, 2006 

RosBusinessConsulting: Natural Resources Minister to visit Sakhalin

RBC, 12.10.2006, Moscow 19:36:35.Russian Natural Resources Minister Yury Trutnev will go on a working trip to Sakhalin on October 24-26 to examine the results of the Sakhalin-2 environmental inspection, the ministry’s press office reports.

The Minister will also hold a meeting in Khanty-Mansiysk to consider compliance with environmental requirements during the development of the region’s oil fields. The minister will be accompanied by heads of the Russian environmental watchdog Rospririodnadzor, Russia’s Federal Agency for Subsurface Resources (Rosnedra) and the General Prosecutor’s Office. read more

International Herald Tribune: Germany gets leading role as Russia strategic partner

By Judy Dempsey International Herald Tribune

Published: October 12, 2006
 
BERLIN As both sides of the Atlantic compete for reliable energy sources, Russia appears to be playing Europe against the United States by favoring Germany as its most important strategic partner and the main transit country for Russian gas to lucrative markets in Western Europe.
 
The goal of linking Europe’s largest economy much more closely to Russia emerged clearly this week: Moscow shut out American firms from the development of a major gas field and reneged on previous plans to send liquefied natural gas from that field to the United States, and President Vladimir Putin spelled out priorities to Russian and German political and business leaders in Dresden.
 
Returning to the city where he was a KGB agent from 1985 to 1990, Putin dwelled on the new North European Gas Pipeline Russia and Germany are building under the Baltic Sea. Once in place, he noted, Germany will gain a special role in Europe’s energy market. “This would mean that Germany is not only a consumer of natural gas but would make it a big European distributor of Russian gas,” Putin said. “It would transform the energy face of Germany and strengthen its role in European energy matters.”
 
Gazprom, Russia’s state-owned gas monopoly, already supplies a third of Germany’s energy and a quarter of all gas consumed in the European Union.
 
While West Germany started developing trade and energy contacts with the Soviet Union in the 1970s, the current big push by Germany and Russia to forge closer economic ties goes well beyond traditional realms. At €25 billion, bilateral trade for the first six months of this year almost equaled that for all of 2005.
 
“Putin and Gazprom have a lot of cards in their hands,” said Jonathan Stern, director of research at the Oxford Institute for Energy Studies.
 
Two U.S. oil firms, ConocoPhillips and Chevron, were dealt losing cards this week when Gazprom – in line with earlier Russian moves to renege on deals giving Shell oil from fields in Sakhalin – said it would exclude foreign companies from shares in the huge Shtokman gas field and instead develop it alone.
 
Two European oil firms, Total of France and Norsk Hydro of Norway, had also hoped for a deal on Shtokman. But America suffered the added blow of being denied liquefied natural gas supplies from the field once it is developed.
 
“Shtokman will be the resource base for Russian gas exports to Europe via the North European pipeline,” declared Alexei Miller, Gazprom’s chairman. Foreign firms will participate only on specific technical contracts, he added. “This decision is an additional guarantee of the Russian gas supply to Europe, security in the long term, and proof that the European market is of dominating significance for Gazprom.”
 
Stern noted that this decision, announced Monday before Putin met Chancellor Angela Merkel in Dresden, marked a return to Russia’s original plan. “Instead of sending gas to the U.S., it will now send the gas from Shtokman via the new pipeline to Europe,” he said.
 
“Europe and Russia will become even more dependent, as Europe buys more gas from Russia and Russia depends on Europe as a reliable market.”

  read more

RIA Novosti: Natural resources minister to inspect results of Sakhalin II checks

Shell Station

18:50 | 12/ 10/ 2006 

MOSCOW, October 12 (RIA Novosti) – Russia’s natural resources minister will head a delegation on October 24-26 to examine the results of environmental inspections into the Sakhalin II oil and gas project in the country’s Far East.

The vast hydrocarbon project, led by Anglo-Dutch oil major Shell, has met with strong opposition from environmental groups and authorities over accusations of inadequate safety, massive volumes of waste disposal, seismic threats, erosion, and threats to marine life. The Ministry of Natural Resources withdrew a key permit for the project in September. read more

Houston Chronicle: Lawyer in BP case ordered to turn over evidence

Oct. 11, 2006, 6:50PM
By ANNE BELLI
Copyright 2006 Houston Chronicle

Suggesting that the criminal probe into BP is gaining momentum, federal prosecutors this week issued a wide-ranging subpoena to a lawyer representing a woman whose parents died in the 2005 blast at the company’s Texas City refinery, the lawyer said today.

Brent Coon of Beaumont said the U.S. attorney’s office in Houston has ordered him to turn over all of the evidence he has gathered so far — dozens of depositions and hundreds of thousands of documents — in preparation for a November trial in state court. read more

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