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Posts on ‘October 23rd, 2006’

RIA Novosti: No plans to revoke Sakhalin II license-FM Lavrov

17:46 | 23/ 10/ 2006  MOSCOW, October 23 (RIA Novosti) – Russia does not seek to revoke the license of the Sakhalin II oil and gas project in Russia’s Far East, the Russian foreign minister said Monday. Russia signed the Sakhalin II production-sharing agreement in 1994 with Sakhalin Energy, an investment company controlled by oil […]

Prime-Tass: Chief of public spending watchdog calls for revising Sakhalin PSAs

MOSCOW, Oct 23 (Prime-Tass) — Sergei Stepashin, director of Russia’s Audit Chamber, called Monday for “a drastic revision” of production sharing agreements (PSAs) for the development of Sakhalin Island’s oil fields. The Audit Chamber is Russia’s public spending and revenue watchdog. However, the PSAs must remain in effect, he added. The increase in Sakhalin Energy’s […]

The Wall Street Journal: Shell Indicates Intention To Buy Out Shell Canada

By CHIP CUMMINS October 23, 2006 5:39 a.m. LONDON — Royal Dutch Shell PLC said it would offer to buy out minority shareholders in its Canadian affiliate for about C$7.7 billion, or $6.85 billion, representing the latest effort in the oil giant’s long-running restructuring. The move would also solidify its growing position in Canada, where […]

The Wall Street Journal: Exxon Agrees to Sell Gas From Sakhalin-1 to China

By GREGORY L. WHITE October 23, 2006 1:29 p.m. MOSCOW — Exxon Mobil Corp. said it has reached a preliminary agreement to sell natural gas from a project on Russia’s Sakhalin Island to China. But the U.S. energy giant still needs to make a deal with OAO Gazprom, the Russia’s state-controlled gas monopoly, to get […]

The Denver post: Shell to decide Colorado project by 2010

By Peter Cook Bloomberg Article Last Updated:10/23/2006 11:40:28 AM MDT   Royal Dutch Shell Plc is encouraged by its research on the extraction of crude oil from shale in Colorado and might be able to produce oil there by the middle of the next decade, the head of the company’s U.S. unit said. A decision […]

Bloomberg: Shell Offers to Buy Out Canada Unit for C$7.7 Billion (Update9)

By Mathew Carr and Sonja Franklin Oct. 23 (Bloomberg) — Royal Dutch Shell Plc, the second- biggest European oil company, offered C$7.7 billion ($6.8 billion) to buy out its Canadian unit and gain greater production from the oil sands. Shell, which owns 78 percent of Shell Canada Ltd., offered C$40 a share for the rest, […]

ShellNews.net: leaked internal email from Royal Dutch Shell ‘Expatriate Policy Manager’, Stephanie Boyde

23 October 2005 Received today from a Shell Insider… Dear Sir I like your frank site and here perhaps is something you might care to publish. I refer to the Shell HR email I have supplied. Naturally I want my name kept secret as you will understand. Here is another HR activity that escaped the […]

THE VOICE OF RUSSIA: RUSSIA CALLS FOR EQUAL PARTNERSHIP WITH EU

Viktor Yenikeev. 10/23/2006 An unofficial summit between Russia and the EU has taken place in Lahti, Finland. High on the agenda were strategic partnership and energy cooperation. Russia and the European Union have reaffirmed mutual intention to develop both strategic partnership and energy cooperation. European Commission President Jose Barroza told a closing news conference that […]

RussiaProfile.Org: A Matter of Pride

By Paul Abelsky Russia Profile October 23, 2006 Russian-Japanese Relations Suffer From A Lack of Compromise Japan waited 41 years for a male heir to the Chrysanthemum Throne, and in September, Princess Kiko threw the country into elation with the birth of the longed-for boy. Russian-Japanese diplomatic relations, mired in an ongoing territorial dispute over […]

AFP: Obey or be shut down, Russia says

Russian officials warned Sakhalin-2 investors on Friday to comply with environmental laws or face shut-down, also suggesting there could be adjustments to the “economic model” in the huge Pacific coast oil and gas project. “If the Russian Federation’s laws are going to be violated, if irreparable damage is done to the environment, we will take […]

BBC News: EU shocked as Putin comes out fighting

(EU leaders were reportedly taken aback by Mr Putin’s rebuff) By William Horsley BBC News Europe analyst  23 October 2006   Insiders’ reports from EU leaders’ dinner with Russian President Vladimir Putin last Friday suggest Europe’s diplomats have begun the week suffering from diplomatic indigestion. All 25 European Union leaders met Mr Putin in Finland. […]

ShellNews.net: The Hans Bouman, Engel van Spronsen Sakhalin emails

Published below in their entirety are the emails between two senior Shell managers, Hans Bouman and Engel van Spronsen which were the subject of a recent article published by MarketWatch: MarketWatch: Shell manager warned of Sakhalin faults in e-mails Postings on our Live Chat facility and other incoming emails relating to the same issues are […]

Sakhalin Energy: Cooperation Commitment with Russian Ministry of Natural Resources

Sakhalin Energy    Friday, October 20, 2006 Sakhalin Energy CEO Ian Craig sent a letter today to Minister Yuri Trutnev of the Ministry for Natural Resources of the Russian Federation. In his letter the company’s CEO re-affirmed Sakhalin Energy’s commitment to cooperate with the Ministry for Natural Resources and Rosprirodnadzor in a constructive dialogue, and informed […]

International Herald Tribune: Royal Dutch Shell bids to buy out minority stake in Shell Canada Ltd.

The Associated Press Published: October 23, 2006   LONDON Royal Dutch Shell PLC, Europe’s second-largest oil company, said Monday it offered to buy out the minority shareholders in Shell Canada Ltd. as a further step in simplifying the structure of the energy group.   Shell, which holds 78 percent of the shares in Shell Canada, […]

Shell: Royal Dutch Shell plc proposes to acquire the minority shares in Shell Canada Limited

Investor Centre Monday, October 23, 2006 VOLUME 1 ISSUE 278 Royal Dutch Shell plc (the ‘Group’) today announced that it has approached the Board of Directors of Shell Canada Limited to indicate its intention to offer to acquire the minority interests in Shell Canada Limited (Toronto Stock Exchange, ticker symbol SHC), for a cash price […]

Daily Telegraph: The week ahead

By Caroline Muspratt Last Updated: 11:17pm BST 22/10/2006 Thursday October 26 Oil giant Shell could give an update on its Sakhalin-2 project in Russia when it reports third-quarter results on Thursday as well as an outlook on oil prices. Analysts say the company could report slightly lower income for the third quarter as volumes are […]

Daily Telegraph: UK ‘squandered’ North Sea revenues

(The think tank nef calls for a windfall tax on the profits of oil companies such as Shell and BP) By Tom Stevenson Last Updated: 1:25am BST 23/10/2006 A leading think tank has called for a windfall tax on oil companies’ profits, warning that Britain has squandered billions of pounds of North Sea revenues. The […]

Kommersant: Weekly Calendar

Wednesday, October 25 Minister of Natural Resources Yury Trutnov will hold a meeting in South Sakhalin at which the results of the audit of the Sakhalin 2 project are expected to be announced.

The Guardian: Vodafone tops corporate social responsibility survey

Mark Tran Monday October 23, 2006 Guardian Unlimited Vodafone may be under the cosh from shareholders but it emerged today as a world-beater when it comes to corporate social responsibility. The mobile phone giant led by the embattled Arun Sarin has been ranked as the world’s most accountable business in a survey by AccountAbility, a […]

The Guardian: ‘Fund clean energy with oil tax’

Terry Macalister Monday October 23, 2006 Oil companies should be subjected to a windfall tax to fund a transition to a sustainable energy system, according to a leading charity and thinktank report published today. The UK must follow the lead of Norway and create an oil legacy fund to ensure the benefits of hydrocarbons are […]

The Guardian: Biggest wind power project is blown off course as residents fight back

Scheme that would provide 25% of London’s power is bogged down in planning Terry Macalister Monday October 23, 2006 Martin Bellis dries himself off with his towel and gives a wry smile when asked if he is not just another Nimby objector looking after his own patch of beach against the potential encroachment of a […]

Asahi Shimbun: Russia’s Sakhalin island

Asahi Shimbun headline: Japan will most likely lose out to China in the competition to secure a regular supply of natural gas from a major development project off Russia’s Sakhalin island. Published: Oct 23, 2006 According to sources, U.S. oil giant ExxonMobil Corp. has recently agreed to begin full-scale negotiations with China to sell gas […]

AFX Europe (Focus): Campaigners call for windfall tax on North Sea oil firms – report

Published: Oct 23, 2006 LONDON (AFX) – The New Economics Foundation think tank and the World Wildlife Fund are calling for a windfall tax on North Sea Oil companies, claiming that BP PLC and Shell have caused 27 bln stg of environmental damage over the last year, reports the Independent. [email protected] gh/slm COPYRIGHT Copyright AFX […]

Financial Times: UK companies diary: Oil majors set to suffer

Published: October 23 2006 03:00 | Last updated: October 23 2006 03:00 TUESDAY *BP reports third-quarter figures ahead of rival Royal Dutch Shell later this week, with underlying earningsfor both likely to be down from the second quarter. The price of oil fell sharplyduring the three-month period and refining margins were squeezed, puttingpressure on both […]

CNW: Shell Canada Limited receives proposal from Royal Dutch Shell plc

CALGARY, Oct. 23 /CNW/ – Shell Canada Limited confirmed that it has received a proposal from Royal Dutch Shell plc to make an offer for all of the common shares of Shell Canada not already owned by Royal Dutch Shell for consideration consisting of CDN$40 cash per common share, subject to a number of terms […]

Reuters: Russia finds Sakhalin-2 costs too high

Mon Oct 23, 2006 6:47 AM BST MOSCOW (Reuters) – Royal Dutch Shell , Mitsui and Mitsubishi have overestimated the costs of the developing the giant Sakhalin-2 project, a Russian state-owned oil firm has found, the Vedomosti daily reported on Monday. Russian officials were incensed by Shell’s decision last year to double Sakhalin-2’s costs to […]

The Denver Post: Shell is going to the wall for oil

The company is spending $30 million to make a huge underground “freeze wall” to safeguard oil-shale reserves in the region. By Steve Raabe Denver Post Staff Writer DenverPost.com Article Last Updated:10/22/2006 04:56:15 PM MDT   Piceance Creek – In an arid, sage-dotted valley here, Shell Exploration & Production Co. has begun work on what could […]

MarketWatch: Shell’s Sakhalin costs could reach $28 billion

Last Update: 6:55 PM ET Oct 22, 2006 LONDON (MarketWatch) — Costs for Royal Dutch Shell PLC’s (RDSA) liquefied natural gas project Sakhalin-2 could spiral to $28 billion, the Observer reports Sunday. The predicted construction budget for Sakhalin-2 has risen to $20 billion from $15 billion in 2003, the report says, citing a leaked report […]

The Scotsman: Oil giants’ three-year profits boom over

THE WEEK AHEAD IN THE MARKETS MARTIN FLANAGAN  ([email protected]) OIL giants BP and Shell are expected to report a fall in underlying third-quarter earnings this week, ending a three-year boom of record earnings on the back of surging oil prices. Analysts believe higher oil prices in the quarter will have failed to offset soaring oil […]