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Posts on ‘October 29th, 2006’

The Moscow Times: Trutnev Offers Hope to Shell’s Sakhalin-2

Monday, October 30, 2006. Issue 3529. Page 7.
By Miriam Elder
Staff Writer

Natural Resources Minister Yury Trutnev struck a conciliatory note with Shell’s Sakhalin-2 project Friday, saying he was not seeking to shut it down and acknowledging that the operator had made some progress in cleaning up environmental damage.

“Our job isn’t to punish the company, but to see that they continue working properly,” Trutnev told foreign news media at a briefing in Moscow after a three-day tour that took him to Sakhalin.

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The Mail on Sunday: Double Dutch, but he controls your future

Oil baron… Europe’s future supplies of oil and gas rely on the negotiating skills of Jeroen van der Veer, the chief executive of Royal Dutch Shell

Sunday 29 October 2006

By William Rees-Mogg

What are the greatest problems facing the world? Perhaps one should put global warming first; that is largely being caused by mankind’s unquenchable appetite for carbon energy, particularly the hydrocarbons of oil and gas. Perhaps the second great anxiety should be the threat of war, or the actual war in the Middle East.
That has tribal, religious and economic causes, but the economic issue is oil.

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Authenticity of sensational leaked Hans Bouman email to Jeroen van der Veer

29 October 2006
By John Donovan

A posting on our Live Chat facility on Saturday (28 October) questioned the authenticity of an outspoken email that former senior Shell manager Hans Bouman sent to Shell CEO Jeroen van der Veer. The posting said that the email is “very worrying if its genuine”.

In fact its authenticity has been verified by more than one source including a Shell insider who has direct contact with Mr Bouman. To say that the email is “very worrying” is a massive understatement bearing in mind the seriousness of the allegation that Van der Veer is surrounded by “sycophants, bullies and those without personal integrity”. Some are even described by Bouman as “megalomaniacs”.

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TheBusinessOnline: Putin’s superpower play

Sakhalin II


Russia has a new weapon with which to bully the West: its vast energy reserves. As the world’s biggest supplier of oil and gas, the Kremlin is determined that industrial muscle will succeed where Marxism failed. When a 32-year-old KGB agent called Vladimir Putin was invited to attend the Red Banner Institute in Moscow, one of the Soviet Union’s elite spy colleges, he couldn’t believe his luck.

It was 1984 and the young but deeply ambitious Putin was soon being groomed as a specialist in economic and technological espionage. His teachers were still revelling in a now long-forgotten victory over America: gas was flowing from a brand new Russian pipeline to Western Germany, earning much needed hard cash, despite a lengthy campaign by President Ronald Reagan to block its construction with sanctions.

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The Sunday Times: Drilled down

Sunday 29 October 2006

AFTER a difficult few years, there were finally reasons for smiles at Shell last week. Jeroen van der Veer, chief executive, unveiled a record set of results with a flourish — it seems difficult to conceive of a company having net income of $7 billion in a single quarter, but that’s what Shell announced.

But it’s never that easy in the oil business. Just as Van der Veer was setting hearts a-flutter with his big numbers, there were worrying noises coming out of Russia.

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The Sunday Times: Carbon offset deals are trading in guilt

Sunday October 29, 2006

Schemes that calculate your CO2 emissions so you can pay into green projects may not always do what they claim, writes Jessica Bown 
COMPANIES are capitalising on consumers’ guilt about climate change with schemes that offer to offset your carbon emissions, but experts say there are better ways to go green — and save money in the process.

Carbon offsetting, where you put a small amount of money towards environmental projects to offset your carbon emissions, has become big business, worth an estimated £60m a year, compared with £20m in 2005. 
Firms such as BP, Shell, British Airways and Land Rover all offer websites that calculate how much carbon your activities emit and then tell you how much you should contribute to green-energy projects. However, these schemes are unregulated, so consumers have little comeback if the money is not used in the way they hoped and a sizeable chunk of any donation goes towards their overheads.

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