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Posts on ‘October 25th, 2006’

The Wall Street Journal: Oil News Roundup: October 25, 2006 4:30 p.m.

THE WALL STREET JOURNAL ONLINE October 25, 2006 4:30 p.m. Crude-oil futures surged above $61 a barrel on the New York Mercantile Exchange, their highest close since Oct. 9, after the Department of Energy said U.S. crude stockpiles unexpectedly fell and gasoline demand rose amid falling pump prices. Here’s Wednesday’s roundup of oil and energy […]

Reuters: Russia prolongs Shell project probe, may prosecute

Wed Oct 25, 2006 11:31 AM ET By Mikhail Yenukov YUZHNO-SAKHALINSK, Russia (Reuters) – Russian Natural Resources Minister Yuri Trutnev heaped more pressure on Shell’s Sakhalin-2 project on Wednesday with an order for a prolonged environmental probe and a threat of prosecution. At a meeting with environmental inspectors and project operator Sakhalin Energy on Sakhalin […]

New York Times: Shell Could Face Criminal Charges in Russia

(Joseph Sywenkyj for The New York Times Shell’s $22 billion Sakhalin 2 project, under construction on Sakhalin Island, will have about 500 miles of natural gas and oil pipelines.) October 26, 2006 By ANDREW E. KRAMER MOSCOW, Oct. 25 — A Russian official threatened criminal prosecutions against employees of Royal Dutch Shell, ratcheting up pressure […]

BBC News: Sakhalin operator ‘breaking law’

Russia’s environmental agency has asked for an extra month to probe the Sakhalin-2 oil and gas project and has warned it may prosecute its operator. Natural resources minister Yuri Trutnev said that environmental breaches at the project, led by Anglo-Dutch energy giant Shell, broke five criminal codes. Earlier this week Russia reiterated that it could […]

Oil & Gas Journal: Several Sakhalin-2 pipeline work sections halted

Eric Watkins Senior Correspondent LOS ANGELES, Oct. 25 — Construction on several sections of the Sakhalin-2 onshore pipeline system has to be halted, according to Russian Natural Resource Minister Yury Trutnev, who said the project continues to violate environmental legislation. “Here we need to consider halting construction on several parts of the pipeline. I do […]

Financial Post – Canada: Russia’s focus on environment seen as attempt at control: Energy

Published: Oct 25, 2006 MOSCOW – Russian environmental prosecutors are considering cancelling licences for 17 oil companies, including a subsidiary of state oil firm Rosneft, a top environmental official said yesterday. “Cases have been forwarded to the environmental prosecutor for review regarding 17 companies,” including Rosneft-Purneftegaz and shattered oil major Yukos, news agency ITAR-TASS quoted […]

Associated Press: Russian President Won’t Seek 3rd Term

EXTRACT: Several Western oil companies that control energy projects in Russia have come under intense environmental scrutiny in recent months, which analysts say reflects a Kremlin drive to increase the state role in the strategic oil and gas sector. Foreign projects facing pressure include Sakhalin-2, a multi-billion-dollar liquefied natural gas development led by Royal Dutch […]

RIA Novosti: Operator, govt. to draw joint plan to undo Sakhalin II eco-damage

15:30 | 25/ 10/ 2006      YUZHNO-SAKHALINSK, October 25 (RIA Novosti) – Russia’s natural resources minister and the company operating the vast Sakhalin II energy project in the country’s Far East agreed Wednesday to draw up a joint action plan to repair the environmental damage it has caused. Sakhalin Energy CEO Ian Craig, who has […]

Calgary Sun, Canada: Shell Canada Q3 profit jumps

Wed, October 25, 2006 CALGARY (CP) – Shell Canada Ltd. (TSX:SHC) powered its way to a third-quarter profit of $581 million, up from a year-earlier $457 million, as higher crude oil prices and refining income more than compensated for a slump in natural gas prices. The Canadian oil and gas major, which received a $7.7-billion […]

BBC News: Attack on Nigeria oil facilities

A group of protesters have invaded three Shell oil stations in the Niger Delta, forcing the facilities to be shut down, the company said. The demonstrators are accusing the oil giant of failing to fulfil an agreement to provide them with aid. Shell refused to say how much oil had been cut off following the […]

Associated Press: Nigeria villagers seize 3 oil platforms

By DULUE MBACHU, Associated Press Writer 12 minutes ago  LAGOS, Nigeria – Angry villagers in Nigeria stormed and seized three Shell oil platforms Wednesday in the volatile Niger Delta, forcing oil production to be shut down at each one, a spokesman for the oil company said. Royal Dutch Shell PLC officials declined to say how […]

International Herald Tribune: Russia raises pressure on Sakhalin-2

Bloomberg News, Reuters Published: October 25, 2006   YUZHNO-SAKHALINSK, Russia Russia has prolonged the environmental inspection of the $22 billion Sakhalin-2 project by Royal Dutch Shell, the Russian natural resources minister said Wednesday, adding that the oil and natural gas enterprise could face prosecution for transgressions.   “The breaches at Sakhalin-2 fall under five articles […]

RIA Novosti: Russian govt. orders full report on Sakhalin II damage

YUZHNO-SAKHALINSK, October 25 (RIA Novosti) – Russia’s natural resources minister said Wednesday he has ordered that a comprehensive review of damage caused by the Sakhalin II oil and gas project in Russia’s Far East must be completed in a month, and for a full report to be drawn up within four months. Yury Trutnev also […]

Bloomberg: Shell’s Sakhalin-2 May Face Russian Criminal Charges

By Lucian Kim and Torrey Clark Oct. 25 (Bloomberg) — Royal Dutch Shell Plc’s $22 billion Sakhalin-2 venture, Russia’s biggest foreign investment, may face criminal charges as President Vladimir Putin’s government seeks a stake in the oil and gas development. The Natural Resources Ministry will ask the Prosecutor General’s Office to open a criminal investigation […]

The Wall Street Journal: Japan Hits Big Setbacks In Push to Expand Its Access to Energy Projects in Russia and Iran

  October 25, 2006  Japan Hits Big Setbacks In Push to Expand Its Access to Energy Projects in Russia and Iran Fall Through, Suggesting Stable Supplies Are Elusive By YUKA HAYASHI October 25, 2006; Page A6 Tokyo — Just five months after its unveiling, Japan’s ambitious 25-year plan to sharply increase oil and gas development […]

The Wall Street Journal: Oil News Roundup: October 24, 2006 5:23 p.m.

THE WALL STREET JOURNAL ONLINE Crude-oil futures rose to more than $59 a barrel on the New York Mercantile Exchange as traders moved their focus from OPEC’s planned cuts to the weekly U.S. inventory report, which is expected to show a fall in distillate stockpiles heading into winter. Here’s Tuesday’s roundup of oil and energy […]

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