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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.”

 

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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.

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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.

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Reuters: UPDATE 1-Safety woes may halt 2 Norway oilfields

OSLO, Oct 12 (Reuters) – Norway’s Petroleum Safety Authority will halt production on the Snorre and Draugen oilfields on the Norwegian continental shelf because of inadequate lifeboat standards, Bergens Tidende newspaper reported on Thursday.

But Anglo-Dutch oil group Shell (RDSa.L: Quote, Profile, Research) said the Draugen oilfield it runs in the Norwegian Sea was still producing and voiced confidence it would meet safety obligations to upgrade its lifeboats without halting output.

Geir Haug, a Shell spokesman, said the safety authority had denied a request by Shell to continue to produce at Draugen while it addressed the lifeboat problems, but the company was confident it would not have to stop production.

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FOR-UA.COM: Ukraine’s President met Chief Executive Officer of Shell Group

Ukraine's President met Chief Executive Officer of Shell Group

12 October 2006

Victor Yushchenko has met with Jeroen van der Veer, Chief Executive Officer of the Royal Dutch/Shell Group, President’s press office reported.

Ukraine’s Energy Minister Yuriy Boyko, First Deputy Secretariat Chief of Staff Arseniy Yatsenyuk, Naftogaz Chairman Volodymyr Sheludchenko and Ukrgazvydobuvannya Head Yevhen Bakulin attended the meeting.

The President said Ukraine welcomed the expansion of Shell into Ukraine. He described their presence in our country as a “seminal event”, especially for Ukraine’s energy sector.

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NRCU Ukrainian Radio: President Viktor Yushchenko holds meeting with Shell president Jeroen Van der Veer

President Viktor Yushchenko holds meeting with Shell president Jeroen Van der Veer

 

 

12-10-2006 17:57

The parties discussed the company’s activities on the Ukrainian market. President Yushchenko stated the Shell’s advent to Ukraine as a salient event in Ukraine’s energy sector.

According to Viktor Yushchenko, in June the company UkrGazVudobutok and Shell signed an agreement on jointly developing gas deposits in the Dnieper-Donetsk basin, which will allow to enhance Ukraine’s energy security. In turn, Jeroen Van der Veer informed the Ukrainian President about the company’s early steps in Ukraine.

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AXF News: Norway suspends two platforms, risks cutting off 200,000 bpd output UPDATE

(Adds comment, detail on problem, likely length of closures)

OSLO (AFX) – Norway, the world’s third largest exporter of crude oil, could see its daily output cut by up to 200,000 barrels per day for ‘between days and weeks’, after authorities suspended two oil platforms due to safety reasons.

The closure of the Shell-operated Draugen platform and the Statoil-operated Snorre A platform risks cutting off 200,000 barrels of oil per day, a slightly-less-than 10 pct reduction of Norway’s normal daily oil output.

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Shell to Sea allege intimidation and assault by Irish Police on anti-Shell protesters

October 12th, 2006

A small part of North Mayo is now under occupation by the Irish police who are facilitating multinational corporations in their exploitation of Irish resources and abuse of Irish citizens.

Ordinary decent people are being abused, intimidated, assaulted and arrested. The mainstream media is endorsing Shell spin that seeks to smear and misinform.

Independent news sources including www.Indymedia.ie and www.ShelltoSea.com continue to play a critical role in ensuring the truth is getting out.

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BBC News: Indonesia revokes Exxon gas deal

Indonesia has revoked a contract with US energy giant ExxonMobil to develop the Natuna offshore gas field.

Exxon has spent $350m (£189m) exploring the field but is finding the gas costly to extract and difficult to sell.

Indonesia’s oil minister has said that state energy firm Pertamina could be given the rights to develop the field.

Exxon insists that its contract to develop the site runs until 2009, and that it has made “significant” progress in finding a buyer for the gas.

Dwindling production

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RIA Novosti: U.S. commerce chief voices concerns over investments in Russia

USA

12:17 | 12/ 10/ 2006 

WASHINGTON, October 12 (RIA Novosti) – The U.S. secretary of commerce has highlighted disturbing trends in the economy and press freedom in Russia, which he said can affect economic growth and the investment climate in the country.

Speaking at the U.S.-Russia Business Council, which represents over 300 American companies working in Russia, in New York Wednesday, Carlos M. Gutierrez also emphasized Washington’s commitment to resolving issues hampering Russia’s accession to the World Trade Organization.

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RIA Novosti: Ministry denies plan to revoke Kharyaga oil deposit license-1

13:26 | 12/ 10/ 2006
(adds paragraphs 3-14)

MOSCOW, October 12 (RIA Novosti) – Russia’s Natural Resources Ministry said Thursday it will not revoke the license held by French oil major Total to develop a field in the north of European Russia.

“No action is being taken to revoke the license,” Yury Trutnev said. “Just as with regard to other subsoil users, this is absolutely routine work related to overseeing the implementation of licensing agreements.”

The Ministry said in late September it would start probes into deposits developed by French oil major Total and the Russian-British joint venture TNK-BP.

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Reuters: ANALYSIS-Investors fret over Russia’s 2008 dogfight

EXTRACT: Some suspect the battle over the Shell-led Sakhalin-2 energy project, which officials accuse of environmental breaches, may be evidence of one bone being fought over.

THE ARTICLE

11 Oct 2006 11:37:19 GMT
By Elif Kaban

MOSCOW, Oct 11 (Reuters) – Winston Churchill once likened Kremlin politics to watching two dogs fight under a carpet — you know there’s a furious spat going on but can’t see what’s happening.

Now the carpet is stirring ahead of presidential elections in 2008, and investors are getting out of the way.

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The Moscow Times: Sakhalin-1 Faces Delay Until ’07

Sakhalin

(Sergei Karpukhin/Reuters: A vessel leaving an oil platform at Sakhalin-1’s Chaivo field on Tuesday.)

Thursday, October 12, 2006. Issue 3517. Page 5.
By Dmitry Zhdannikov
Reuters  

NOGLIKI, Yuzhno-Sakhalinsk — Federal authorities are still checking a new oil terminal built by the ExxonMobil-led Sakhalin-1 group and it may take two months before full operations are allowed, project members said Wednesday.

They also said full-scale oil production of 250,000 barrels per day could be delayed to the first quarter of 2007, from the end of this year, as the facilities needed more work.

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International Herald Tribune: Russian ministry says not seeking to revoke Total’s license at Kharyaga oil field

The Associated Press
Published: October 12, 2006
 
MOSCOW A top government official said Thursday that Russia was not seeking to revoke French company Total SA’s license to tap the Kharyaga oil field, Russian news agencies reported.
 
Natural Resources Minister Yuri Trutnev spoke amid widespread probes of Western-led energy developments that analysts says are an attempt to secure a bigger role for Russian companies.
 
The reports quoted Trutnev as saying that no work was under way to revoke Total’s license. A statement in September by the head of the ministry’s government policy department that said that the license was being officially reviewed for possible cancellation due to underdevelopment.
 
But Trutnev appeared to stress that checks under way at Kharyaga and elsewhere were routine. “General monitoring is being conducted, it is being conducted with many companies and is aimed at making sure the licenses are fulfilled,” he was quoted as saying.
 
Total has a 50 percent interest in Kharyaga, while Norway’s Norsk Hydro has 40 percent. An oil company controlled by the regional government holds 10 percent.
 
Western investors have been rattled by a series of moves by authorities at large oil and gas developments controlled by foreign companies. In September, Royal Dutch Shell PLC’s saw its environmental permit suspended amid allegations of serious environmental violations at its giant Sakhalin-2 liquefied natural gas project.
 
Soon after, prosecutors warned BP PLC’s local joint venture that its Kovykta natural gas field was pumping less gas than agreed in the original 1994 license and the company could see its license pulled. Exxon Mobil Corp.’s Sakhalin-1 project is also undergoing an environmental review.
 
The probes provoked an international outcry and have been interpreted as a move by the government to rejig old energy agreements — signed when state coffers were empty and investment was desperately needed — to better suit Russian companies.
 
Russia’s natural gas monopoly OAO Gazprom is negotiating to join the Shell project in an asset swap deal. Meanwhile BP needs Gazprom’s permission to send gas from Kovykta to China, which the monopoly has so far refused in what analysts have said is a hardball tactic to secure control of the field.

 

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Indymedia: Anti-Shell Action in Ireland, Shell H.Q. in Dublin Occupied

 Shell HQ Dublin

(The photograpgh is from the lobby in the Shell Dublin HW during the occupation. There are lots more photos on www.indymedia.ie)

Report from Sea to Shell campaign on protest activities carried out on Wednesday 11 Oct 2006

Mayo:
At 8 a.m. Wednesday morning in Mayo sit down protestors blocked the transport of workers to Shell’s construction site in Ballinaboy, before being moved on by police.

The state thugs, whose official title is “guardians of the peace”, threw one young woman to the ground and trampled on her, she was subsequently hospitalised.

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International Herald Tribune: Report sponsored by Shell sees British economic opportunities in combating global warming

The Associated Press
Published: October 12, 2006
 
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 30 billion pounds (€45 billion, US$55 billion) over the next decade, said the report published by Shell UK as part of its Springboard project to encourage business action on global warming.
 
Globally, the report said the market could be worth a trillion dollars (€800 billion) in the next five years, the report said.
 
The report said business opportunities were mainly in developing products and systems to comply with regulations designed to cut energy use. That includes tighter building standards, supplying biofuels for road transport and renewable energy generation.
 
“The cost-benefit equation of action to tackle climate change is favorable. That’s true not just for the U.K. but internationally as well,” Shell UK Chairman James Smith said in an interview with British Broadcasting Corp. radio.
 
To encourage innovation, the report proposed that the government offer prizes — as it did in 1714 when it offered a reward to the person who solved the problem of measuring longitude.
 
“The main value of the prize would not be in the prize money itself, but in having some of the most important problems addressed, and in helping the prize-winner to achieve a reward in recognition of his or her innovation,” the report said.
 
It suggested prizes might be offered in several categories, including energy supply, industry, mobility and buildings.
 
 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 30 billion pounds (€45 billion, US$55 billion) over the next decade, said the report published by Shell UK as part of its Springboard project to encourage business action on global warming.
 
Globally, the report said the market could be worth a trillion dollars (€800 billion) in the next five years, the report said.
 
The report said business opportunities were mainly in developing products and systems to comply with regulations designed to cut energy use. That includes tighter building standards, supplying biofuels for road transport and renewable energy generation.
 
“The cost-benefit equation of action to tackle climate change is favorable. That’s true not just for the U.K. but internationally as well,” Shell UK Chairman James Smith said in an interview with British Broadcasting Corp. radio.
 
To encourage innovation, the report proposed that the government offer prizes — as it did in 1714 when it offered a reward to the person who solved the problem of measuring longitude.
 
“The main value of the prize would not be in the prize money itself, but in having some of the most important problems addressed, and in helping the prize-winner to achieve a reward in recognition of his or her innovation,” the report said.
 
It suggested prizes might be offered in several categories, including energy supply, industry, mobility and buildings.

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Reuters: UPDATE 1-All hostages at Shell Nigerian oil platform freed

LAGOS, Oct 12 (Reuters) – Nigerian villagers who overran a Royal Dutch Shell (RDSa.L: Quote, Profile, Research) facility in the delta have freed all the 60 oil workers and troops they held hostage, officials said on Thursday.

Armed youths from the Oporoma community in Bayelsa state seized the facility on Tuesday, forcing Shell to shut the Nun River flow station, which produces 12,000 barrels per day (bpd) of crude oil, further cutting output from the world’s eighth biggest exporter after a week-long resurgence of violence.

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The Peninsula (Doha): First RasGas LNG delivery reaches Mexico

12/10/2006 
  
Ras Laffan Liquefied Natural Gas Company Limited (RasGas) made its first delivery of liquefied natural gas (LNG) from the shores of Qatar to Mexico on October 8, a press release issued by RasGas said yesterday.

This historical event followed a spot sale to Shell Western LNG B V by Ras Laffan Liquefied Natural Gas Company Limited (II).

The LNG cargo was loaded on board the LNG tanker Fuwairit, and departed from Ras Laffan, on September 16, the press release added.

The voyage of 22 days over a distance of 9,915 nautical miles was routed through the Suez Canal and the Straits of Gibraltar to the Terminal de LNG de Altamira, Mexico.

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Gulf-Times (Qatar): Russia ups pressure as Exxon delays Sakhalin-1 full exports

Sakhalin I Exxon led project
(An aerial view of the Yastrev (Hawk) land rig at Sakhalin-1’s Chaivo field, some 1,000km (621 miles) north of Yuzhno Sakhalinsk on Tuesday.)

Published: Thursday, 12 October, 2006, 10:11 AM Doha Time 

When ExxonMobil finishes drilling the world’s longest oil on Sakhalin island next year, it hopes to leave behind something more than just technological innovations. The world’s biggest energy firm hopes that the unique technology it says it brought to Russia will help ease the Kremlin’s pressure on production sharing deals with foreign majors

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Falls Church News-Press: The Peak Oil Crisis: Turning Points

By Tom Whipple    
Thursday, 12 October 2006 

From a peak oil perspective, the last couple of weeks seemed pretty quiet. Oil prices continued to drift down into the $50s amid gloats from peak oil skeptics. The Dow Jones climbed to all-time highs, in part, due to optimism the “oil bubble” had finally burst and there would be lower inflation and lower interest rates ahead. Alaskan oil production returned to normal levels and financial analysts spoke enthusiastically about the “new frontier” of deep-water oil. The geopolitical world was quiet. Iran, Lebanon, Nigeria, and Venezuela— everywhere one looked there were no imminent threats to oil supplies.
Even the SUV dealers were in a better mood with commercials prattling on about the end of high oil prices and the great deals could that could be had.

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UpstreamOnline: Hostages freed from Shell platform

Thursday 12 October 2006

By Upstream staff

Armed villagers who invaded an oil facility operated by Anglo-Dutch supermajor Shell in the Nigerian delta have freed most of the scores of workers and troops they took captive, the company and police said today.

The attack by the Oporoma community in Bayelsa state forced Shell to shut the Nun River platform, which pumps 12,000 barrels per day of crude, further denting output from Africa’s top producer after a week-long resurgence of violence.

“So far we have only eight people still left in the custody of the militants,” Bayelsa police commissioner Hafiz Ringim told Reuters.

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Lloyds List: Oil majors jump in at the deep end to reap financial rewards

Oil companies are becoming more focused on developing hydrocarbon resources in ever deeper waters, which is also good news for shipyards, writes Martyn Wingrove, Lloyds List
Published: Oct 12, 2006

MORE oil industry capital investment is heading to the ultra-deepwater provinces and basins as energy companies are searching ever deeper for resources.

Major oil groups, plus some national institutions, are pushing into new exploration frontier regions in the search for more reserves, resulting in some large discoveries in areas that have recently been virgin territory to the drill bit.

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Irish Times: Engineers call for study to find best site for Corrib gas terminal

By: Lorna Siggins, Marine Correspondent
Published: Oct 12, 2006

Two chartered engineers have called on Minister for the Marine Noel Dempsey to commission a report on the “optimum location” for the controversial Corrib gas terminal, which might help to break the impasse over the 900 million project.

Former Bord Gais official Leo Corcoran and Brian Coyle of Coyle Hamilton in Galway, have also proposed that Shell should suspend any work at Bellanaboy while such a study is undertaken.

Any further activity on the site they state will only “further damage” Shell’s relationship with the community, and will waste resources if the study comes up with an alternative location.

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Irish Independent: Anti-Shell activists stage sit-in at firm’s HQ

Published: Oct 12, 2006

ANTI-Shell activists have pledged to carry out further protests after staging a sit-in at the company’s headquarters in Dublin yesterday.

Seven protesters occupied the reception area of Corrib House on Lower Leeson Street, while six more used a borrowed ladder to climb up on to the roof.

The protest ended peacefully after 11 hours when all the activists left the building. No arrests were made.

The Shell to Sea group said they would be organising sit-ins at Shell’s headquarters on a weekly basis.

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Asia Pulse: NORTH WEST SHELF VENTURE SIGNS JAPANESE GAS DEAL

Published: Oct 12, 2006

MELBOURNE, Oct 12 Asia Pulse – Australia’s largest resources project, The North West Shelf Venture (ASX:WPL), has signed a deal with Chubu Electric of Japan for the ongoing supply of liquefied natural gas.

In a seven-year deal starting in April 2009, the $A14 billion ($US10.37 billion) West Australia-based North West Shelf Venture (NWSV) will supply over 24 trillion British thermal units of liquid natural gas (LNG) – almost 500,000 tonnes – a year to Chubu Electric on an ex-ship basis.

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The Independent: You can go your own way

EXtract: While Business Link offers face-to-face support, other organisations such as Shell Live WIRE – which is aimed specifically at the 16-30 age group – provide online help. Executive director Duncan Robbie says, “Increasingly, young people are coming up with their business idea while they are still at university, so online support is particularly accessible to them.”

Shell Live WIRE boasts an online business library, as well as a free business tool kit – an interactive CD-Rom which enables people to build a product line from their idea.

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The Wall Street Journal: Nigerian Rebels Free Most Hostages

Associated Press
October 11, 2006 9:06 p.m.

LAGOS, Nigeria — Most of the dozens of troops and oil workers taken hostage in a raid on a navy base and neighboring oil facility in southern Nigeria have been released, police said Wednesday.

The eight remaining hostages — employees of a subsidiary for Royal Dutch Shell PLC — should be freed within hours, said Hafiz Ringim, the police commissioner for Bayelsa state.

Assailants wielding automatic rifles overran the navy base and occupied the nearby oil facility Tuesday. About 60 oil workers were held captive at the oil installation and an unknown number of navy personnel were held at the base. Most of the hostages were released late Tuesday.

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The Wall Street Journal: Oil News Roundup: October 11, 2006 7:57 p.m.

THE WALL STREET JOURNAL ONLINE
October 11, 2006 7:57 p.m.

Oil prices fell once again, ending the day at the lowest level in 2006, on doubts as to whether the Organization of the Petroleum Exporting Countries will significantly reduce production. Here is Wednesday’s roundup of oil and energy news:

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OIL FALLS AGAIN ON DOUBTS ON OPEC: Crude oil closed at its lowest level of the year, even as OPEC said it will cut its crude oil production by 1 million barrels a day. But with cartel members still hashing out crucial details over how much to prune output and how to share the pain of doing so, buyers seem to doubt the organization’s resolve to halt a recent plummet in oil prices.

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The Moscow Times: Sakhalin II: Gref Sees a Compromise

Thursday October 12, 2006

FRANKFURT — The government and companies developing the Sakhalin-2 oil and gas project can find a compromise regarding costs and other issues, Economic Development and Trade Minister German Gref said in an article in the Handelsblatt.

The parties to the Sakhalin Island project should be able to reach agreement, Gref wrote in the German newspaper.

Some of the increased spending on the project seems unjustified, while higher ecological standards may necessitate increased investment in other areas, Gref wrote in the article. (Bloomberg)

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Indymedia: Bradford Shell Garage gets Samba’d

Shell Station

Thursday 12 October 2006

Just before 5:30pm last night, amid rush-hour traffic, a group of protesters lined up outside a city centre shell garage to play samba and alert passers by to the situation in County Mayo, Ireland.

The event formed part of the international Day of Action against Shell which has featured protests in Leeds and other cities. Protesters carried a banner reading “Shell Stop Raping Ireland”, with Shell and Shamrock logos. When the group arrived a few people from the garage and the next door car dealership appeared, and one began shoving protesters out of the way.

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