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Posts on ‘October 24th, 2006’

Daily Telegraph: Browne predicts wave of mergers in oil industry

(BP chief executive, Lord Browne: ‘There are an awful lot of players and I guess the sector will change shape’) By Russell Hotten, Industry Editor 25 October 2006 Lord Browne, the chief executive of BP, predicted a wave of consolidation in the oil and gas industry as falling prices led companies to re-assess the finances […]

The Moscow Times: ‘The scandal surrounding Sakhalin’

Headline: Rendering Sharing Agreements Unproductive Wednesday, October 25, 2006. Issue 3526. Page 9. By Mikhail Subbotin At a news conference last week, Industry and Energy Minister Viktor Khristenko said there were no grounds for annulling existing production sharing agreements, or PSAs, in Russia. But apart from earlier ecological concerns, a rise in the projected cost […]

The Times: The right moment for a buyout

October 24, 2006 By Carl Motishead   IT IS a big play on dear oil, but Shell chose its moment well, offering to buy out the Canadian minority investors just after the Shell Canada share price had slumped by more than a quarter in value. This is a company that rode high on the oil […]

Irish Independent: Coming home to roost at Bellanaboy

Published: Oct 24, 2006 I note that you seem to proffer some praise to Dr Jerry Cowley TD for his efforts in trying to clear a way for workers to get on to the Bellanaboy Gas Terminal (Irish Independent, October 21). Tribute was paid to the same deputy by a senior Garda officer in the […]

Irish Times: Corrib protesters want ‘all options’ discussed

By: Lorna Siggins, Marine Correspondent, Irish Times Published: Oct 24, 2006 The Shell to Sea campaign has said it has always been willing to enter into discussions with Shell E&P Ireland on the Corrib gas project if such discussions include all options for the project. Campaign spokesman Dr Mark Garavan was responding to last weekend’s […]

Financial Post (Canada): Investors snub $40 offer from Shell: Shell Canada minority: ‘They are very clearly being opportunistic’

Published: Oct 24, 2006 CALGARY – Minority shareholders of Shell Canada Ltd. have given a thumbs down to Royal Dutch Shell PLC’s offer yesterday to pay $7.7-billion in cash for the remaining piece of its Canadian unit. “I don’t think $40 is going to be the number,” said Len Racioppo, president of Jarislowsky Fraser Ltd., […]

AFX Europe (Focus): Northern Petroleum and ExxonMobil Shell unit start drilling at Dutch well

Published: Oct 24, 2006 LONDON (AFX) – Northern Petroleum PLC said drilling at its first Netherlands-based exploration well, Steenwijk, in partnership with the joint Shell and ExxonMobil unit Nederlandse Aardolie Maatschappij B.V., began on October 22, ahead of schedule. newsdesk@afxnews.com gp COPYRIGHT Copyright AFX News Limited 2006. All rights reserved.

BBC Monitoring Service: Nigerian environment activist group supports new UN assessment of oil spills

BBC Monitoring Service – United Kingdom Published: Oct 24, 2006 Text of report by Kelvin Ebiri entitled “MOSOP welcomes fresh UN assessment of oil spills” published by Nigerian newspaper The Guardian website on 24 October The Movement for the Survival of the Ogoni People (MOSOP) says it would support any environmental clean up within the […]

London Evening Standard: Shell at key stage over Sakhalin future

By: Bill Condie, Evening Standard – London: KRTBN Published: Oct 24, 2006 As BP today unveiled its problems, its great rival Shell was preparing for a crunch meeting with Russia’s Minister for Natural Resources. Yuri Trutnev will tomorrow fly the length of the Sakhalin project pipeline which is at the centre of threats to the […]

Daily Mail (London): Shell moves to control costs in Canada buyout: BP Shell mega merger?

Published: Oct 24, 2006 Royal Dutch Shell is taking control of its Canadian venture as it tries to stem massive budget overruns. The firm, which has been plagued by spiralling costs across the world, will spend GBP3.6bn of its acquisitions war chest buying out its Canadian minority shareholders. Shell, which already owns 78pc of Shell […]

Daily Mail (London): BP Shell supermerger?

By: Alex Brummer, Daily Mail – London: KRTBN Published: Oct 24, 2006 The oil price has slipped back below $60 a barrel despite the OPEC decision to cut back production. But this is proving no disincentive to the big oil players as they scramble to find new reserves. Rather than explore themselves it is sometimes […]

London Evening Standard: City Spy column

Published: Oct 24, 2006 SHELL’S DECISION to increase its exposure to Canada’s oil-sands deposits is unlikely to meet with the approval of those who have long been critical of the oil giant’s environmental record. As well as strip-mining the deposits, extracting crude from the oil shale is so energy-intensive that natural-gas-powered refineries have traditionally been […]

AP Worldstream: Russian minister: Total-controlled oil field in Russia has ‘violations many times over’

By: ALEX NICHOLSON, Published: Oct 24, 2006 An Arctic oil field being developed by France’s Total SA has “violations many times over,” Russia’s natural resources minister said Tuesday. But Yuri Trutnev, speaking after a conference of prosecutors’ agencies and environmental regulators, also signaled that Total was in no danger, at least not immediately, of losing […]

AFX Europe (Focus): Russia gives oil companies six months to shape up

Published: Oct 24, 2006 MOSCOW (AFX) – Russia’s natural resources ministry has given oil companies working in Russia six months to update plans for their projects amid a crackdown on foreign and domestic energy companies for alleged environmental violations, news agencies reported today. “I want to ask companies to promptly make changes to their license […]