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Posts on ‘October 20th, 2006’

Reuters: EU vows united front to press Putin on energy

Fri Oct 20, 2006 1:16 PM ET By Rex Merrifield and Ingrid Melander LAHTI, Finland (Reuters) – European leaders agreed on Friday to deliver a blunt message to President Vladimir Putin that Russia must give European firms more chance to exploit its huge energy resources or risk an investor exodus. Putin arrived as guest at […]

Bloomberg: Putin to Spurn EU Demands for More Access to Oil, Gas (Update5)

By Sebastian Alison Oct. 20 (Bloomberg) — President Vladimir Putin is likely to defy calls to give European companies more access to the Russian energy market, using state control of the oil and gas industry to boost Russia’s economic clout. European Union leaders said they will push Putin at a summit in Lahti, Finland, tonight […]

RIA Novosti: Sakhalin II expert review to be ready by Dec. – energy ministry

20:21 | 20/ 10/ 2006 MOSCOW REGION, October 20 (RIA Novosti) – A new expert review that envisions increased spending on the giant Sakhalin II project will be ready by December, a deputy Russian industry and energy minister said Friday. “The term for the state expert review to be implemented is the fourth quarter of […]

Reuters: BP and Shell to end record earnings run

Fri Oct 20, 2006 10:17 AM BST By Tom Bergin LONDON (Reuters) – BP and Royal Dutch Shell are expected to report a fall in underlying third-quarter profits in the week ahead, ending a three year run of record earnings on the back of rising oil prices. Analysts believe higher oil prices quarter will fail […]

AFX News Limited: Shell-led group pledges to urgently address remaining Sakhalin-2 issues

10.20.2006 LONDON (AFX) – Royal Dutch Shell PLC-led Sakhalin Energy has assured the Russian government it will urgently address the remaining environmental issues that were raised about the 20 bln usd Sakhalin-2 gas project. Ian Craig, chief executive of Sakhalin Energy, said in a letter to Russian Minister for Natural Resources Yuri Trutnev that it […]

MosNews: Environmental Watchdog Seeks to Annul Licenses of State Oil Company Rosneft

Created: 20.10.2006 12:23 MSK (GMT +3), Updated: 12:41 MSK Russia’s environmental protection agency Rosprirodnadzor has submitted the documents on revoking licenses held by the Sakhalin branch of state-controlled oil company Rosneft. This information was reported by the country’s Natural Resources Ministry on Thursday, Oct. 19. The ministry said serious violations had been revealed during inspections […]

International Herald Tribune: Russian official says Energy Ministry in talks on changing business model at Sakhalin-2

Fulll headline: International Herald Tribune: Reports: Russian official says Energy Ministry in talks on changing business model at Sakhalin-2  The Associated Press Published: October 20, 2006   MOSCOW Russia’s Industry and Energy Ministry is in talks with investors in the Sakhalin-2 liquefied natural gas project on changing the business model of the giant endeavor after costs […]

RIA Novosti: Sakhalin II project becoming less beneficial for Russia

14:16 | 20/ 10/ 2006    MOSCOW, October 20 (RIA Novosti) – The giant Sakhalin II oil and gas project on Russia’s largest Far East island is becoming less effective for Russia, and raises doubt over product sharing agreements in the country, a member of parliament’s upper house said Friday. Devised in the 1990s when […]

AFX News Limited: Sakhalin-2 development cost estimate hiked, business model may change – minister

10.20.2006, 04:58 AM    MOSCOW (AFX) – Sakhalin Energy, the operator of the Sakhalin-2 hydrocarbons development, has raised its estimate of the cost of the project to 21.9 bln usd from 9.9 bln, Interfax news agency quoted Deputy Industry and Energy Minister Andrei Dementyev as saying. The ministry is now in talks with Sakhalin’s investors […]

Interfax (Russia): Trutnev not ruling out suspension of Sakhalin-2 project

MOSCOW. Oct 20 (Interfax) – Russian Natural Resources Minister Yury Trutnev said he did not rule out the possibility of the Sakhalin-2 hydrocarbons project being suspended. “The Russian Natural Resources Ministry is responsible for the observance of environmental legislation. If Russian laws are going to be trampled on and if the environment is going to […]

AFX News: Sakhalin-2 must comply with clean-up laws or face shutdown – minister UPDATE

Friday, 20th October 2006 09:25 MOSCOW (AFX) – The giant Sakhalin-2 oil and gas project must comply with Russian environmental laws or face being shut down, said Natural Resources Minister Yury Trutnev. ‘If the Russian Federation’s laws are going to be violated, if damage is done to the environment, we will take measures to stop […]

Itar-Tass: Sakhalin-2 operator admits project problems: ‘Pursuit of fast profit often leads to unscrupulous, barbaric treatment of nature’

20.10.2006, 11.49   MOSCOW, October 20 (Itar-Tass) – The situation over the Sakhalin-2 project prompts the need for a closer look at the progress of other oil and gas projects, Russian Minister of Natural Resources Yuri Trutnev said. He spoke at an irregular meeting of Russian parliament’s upper house over the Sakhalin-2 project on Friday. […]

Bloomberg: Putin to Spurn EU Demands for More Access to Oil, Gas (Update2)

By Sebastian Alison Oct. 20 (Bloomberg) — President Vladimir Putin is likely to defy calls to give European companies more access to the Russian energy market, using state control of the oil and gas industry to boost Russia’s economic clout. European Union leaders will push Putin tonight in Lahti, Finland, to let western energy producers […]

Bloomberg: Shell Will Get Chance to Fix Environment Damage, Russia Says

By Torrey Clark Oct. 20 (Bloomberg) — Royal Dutch Shell Plc’s $22 billion Sakhalin-2 oil and gas venture will get the chance to repair environmental damages on the island, Russian Natural Resources Minister said, as the government softens a campaign to increase its sway over the development. Russia has no plans to stop Sakhalin-2, Yury […]

GlobalResearch.ca : The Emerging Russian Giant Plays its Cards Strategically

by F. William Engdahl The September 2006 summit in Paris between Russia’s Vladimir Putin, French President Jacques Chirac and German Chancellor Angela Merkel, underscored the re-emerging of Russia as a major global power. The new Russia is gaining in influence through a series of strategic moves revolving around its geopolitical assets in energy—most notably its […]

The Guardian: The best way to invest in Africa

EXTRACT: Oil, gas, fisheries and mining would be opened up and deregulated to pave the way for European corporations’ access to natural resources – which has already damaged African communities and their environment, from Shell’s operations in the Niger Delta, to mining operations in Zambia, and fish trawling off the coast of west Africa. Mandelson […]

Business Times (Malaysia): Shell stations to help telcos in registration exercise

By: Anna Maria Samsudin, Published: Oct 20, 2006 AS THE year-end deadline looms, Malaysian telecommunications companies (telcos) are using Shell petrol stations nationwide to register prepaid customers. Celcom (Malaysia) Bhd, Digi Telecommunications Sdn Bhd, and Maxis Communications (Malaysia) Bhd will collaborate with Shell Malaysia to enable prepaid registration at Shell Select convenience stores nationwide. As […]

Irish Independent: 45pc of voters oppose Shell terminal plan

Published: Oct 20, 2006 THE first independent opinion poll on the controversy over Shell’s plans to build a 200m terminal in north-west Mayo has revealed that almost half of voters in the county are opposed to the project. A total of 45pc of voters sampled by new newspaper, the ‘Mayo Advertiser’, said they supported the […]

Financial Times: Business as usual is not the answer to society’s problems

By Craig Smith and Howard Ward Published: October 20 2006 03:00 | Last updated: October 20 2006 03:00 Britain is a leader in the field of corporate social responsibility, home to many of its foremost thinkers, campaigners and practitioners. Yet many of these experts believe CSR is at a turning point and may be facing […]

Financial Times: Opec vows to defend minimum $60 for oil

By Carola Hoyos in Doha Published: October 20 2006 03:00 | Last updated: October 20 2006 03:00 The Organisation of Petroleum Exporting Countries, the cartel that controls 40 per cent of the world’s supplies, yesterday declared its resolve to defend $60 as a new minimum international oil price. Saudi Arabia, the world’s biggest oil producer, […]

Financial Times: Plan to cut Opec supply will come

By Carola Hoyos in Doha Published: October 20 2006 03:00 | Last updated: October 20 2006 03:00 In fashion, every few seasons, brown is the new black. In life, 40 has become the new 30. For Opec, $60 a barrel is the new $30. That became clear for the first time when Ali Naimi, Saudi […]

The Herald-Sun: Shell Oil president says supply and demand set costs

BY GREGORY PHILLIPS : The Herald-Sun [email protected] Oct 19, 2006 : 9:15 pm ET DURHAM — Amid a 50-city tour to claw back some credibility for his much-maligned industry, Shell Oil’s president visited Durham Thursday to explain why Americans need to know more about how they get their energy. “We the industry have trained people […]

Reuters: Russia hits Shell JV with back-tax claim-paper

Friday October 20, 1:29 PM MOSCOW, Oct 20 (Reuters) – Royal Dutch Shell’s joint venture with Russian oil firm Sibir Energy, Salym Petroleum Development, has been hit with a back-tax claim of more than $10 million, the Vedomosti business daily said Friday. Vedomosti quoted a source close to the company as saying the back-tax claim […]

Alaska Journal of Commerce: BP takes on the challenge of Russia’s Far East

Web posted Sunday, October 22, 2006 By Tim Bradner Alaska Journal of Commerce    YUZHNO, Russia – The multibillion-dollar Shell and Exxon Mobil oil and gas projects off Sakhalin Island, in Russia’s Far East, could be just the start of major oil discoveries in the region. Oil discoveries are being made by BP and its […]

The Wall Street Journal: Look Who’s Coming to Dinner

  EXTRACT: Shell’s $20 billion oil and gas project in Sakhalin looks likely to fall victim to the Kremlin’s strategy to reassert central control over energy. THE ARTICLE October 20, 2006 In the Finnish lakeside city of Lahti tonight, the European Union’s coveted “soft power” comes face to face with Vladimir Putin. It looks to […]

The Wall Street Journal: Oil News Roundup: October 19, 2006 5:30 p.m.

THE WALL STREET JOURNAL ONLINE October 19, 2006 5:30 p.m. Crude-oil futures jumped after Saudi Arabia’s oil minister backed OPEC production cuts, with the front-month November contract on the New York Mercantile Exchange rallying 85 cents to settle at $58.50 a barrel. Here is Thursday’s roundup of oil and energy news: * * * SAUDI […]

Unison offaly (Ireland): Let oil giants shell out for their own Garda protection

So the state has now shelled out more than three-quarters of a million euro on Gardaí protecting Shell workers in North Mayo. Depending on your point of view, this waste of money is down to the local protesters who won’t go away or to the oil company who won’t go to sea. But whichever side […]

dpa German Press Agency: ‘Save us from the fires of Shell,’ say Irish gas protestors

By Clare Byrne Published: Thursday October 19, 2006 By Clare Byrne, Mayo, Ireland- For over two weeks the site of a planned gas terminal in north-west Ireland has been the scene of tense early- morning standoffs between police and prayer-chanting protestors. The protestors, ranging in age from teens to retirement age and generally numbering around […]

CALGARY SUN: Shell has heart

UPDATED: 2006-10-19 17:10:39 MST By TODD SAELHOF, CALGARY SUN   Another slick fundraising campaign by a major oil player is helping improve the lives of needy Calgarians. Employees of Shell Canada and the company have raised a whopping $3.6 million for United Way, as announced today by the oil company’s president and CEO, Clive Mather. […]