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Posts on ‘October 31st, 2006’

Financial Times: Front Page: BP knew of safety problems, says report

By Sheila McNulty in Houston: Published: October 31 2006 02:00 | Last updated: October 31 2006 02:00 BP knew it had “significant safety problems” at its Texas City refinery and 34 other locations around the world well before last year’s deadly explosion at the Texas plant, US investigators said in a damning report yesterday. The […]

New Zealand Herald: Oil: Price keeps on falling

8.40am Wednesday November 1, 2006   Oil fell below US$58 a barrel on Tuesday, deepening sharp losses from the previous session on easing tensions in Nigeria, ample US fuel stocks and lingering doubts over Opec output cuts.   US light crude fell 78 cents to US$57.58 a barrel by 1812 GMT, after trading down to […] Niger Delta Impacted by 1.5 Million Tons of Oil Spill, Among Five Most Polluted Spots on Earth

Vanguard (Lagos) NEWS October 31, 2006 Posted to the web October 31, 2006 By Hector Igbikiowubo With Agency Report THE Niger Delta has been impacted by 1.5 million tons of crude oil spill over the last 50 years threatening rare species including primate fish, turtles, bird and damaging crops while destroying the livelihood of many […]

RIA Novosti: Russian Audit Chamber, UK ambassador discuss Sakhalin II

20:14 | 31/ 10/ 2006  MOSCOW, October 31 (RIA Novosti) – The head of Russia’s Audit Chamber and the British ambassador to Russia held talks Tuesday to discuss Sakhalin II, a huge oil and gas project in Russia’s Far East led by British-Dutch oil major Shell. The multibillion-dollar Sakhalin II project has been accused of […] University of Rochester won’t invest in Sudan

EXTRACT: UR’s board of trustees investment committee agreed earlier this month “to prohibit direct investments in companies identified as supporting the Sudanese government’s activities in Darfur,” according to its new policy. The policy comes with a list of 28 firms, such as Siemens AG, Royal Dutch Shell and Sudan Telecom, that UR no longer will […]

HindustanTimes: Deora invites Russians for oil projects in India

EXTRACT: Another project, Sakhalin-2, which is headed by Royal Dutch Shell, has run into ecological controversies that caused the Russian Natural Resources Ministry to suspend its environmental operating license in September… Russian Natural Resources Minister Yury Trutnev said on Sunday that an environmental probe of the Sakhalin-1 project has been delayed, while the ministry deals […] Protesting villagers leave Shell facilities in Nigeria

POSTED: 1417 GMT (2217 HKT), October 31, 2006 PORT HARCOURT, Nigeria (AP) — Angry villagers who took over three Shell oil installations in Nigeria’s troubled southern delta region vacated the facilities Tuesday after a six-day occupation, a community spokesman said. Elsewhere, however, a group of villagers who occupied a facility run by the Agip oil […]

MarketWatch: Japan trading houses Mitsubishi, Mitsui benefit from commodities boom

Last Update: 5:34 AM ET Oct 31, 2006 (Updates with details of other trading companies’ earnings, possible problems for firms.) TOKYO (MarketWatch) — Japanese trading companies Mitsubishi Corp. (8058.TO) and Mitsui & Co. (8031.TO) Tuesday posted sharp increases in fiscal first-half net profit and raised their outlooks amid booming commodities prices. Mitsubishi Corp., Japan’s biggest […]

MarketWatch: Over C$110 Billion of New Oil Sands Developments Have Been Proposed In Northern Alberta Canada

Last Update: 10:30 AM ET Oct 31, 2006 DUBLIN, Ireland, Oct 31, 2006 (BUSINESS WIRE) — Research and Markets ( has announced the addition of Alberta Oil Sands: Projects, Production and Cost to their offering. In one (large) page, we summarize over 70 projects at various stages of development for Canadian oil sands operators. […] Stephanie Boyd or Stephanie Boyde?

By John Donovan On 23 October we published a leaked email from a senior Shell manager, Stephanie Boyde. It therefore took my eye when a Shell insider brought the following article to my attention. It just goes to show what a difference an “e” can make. This article may have relevance to postings made today […]

New York Times: U.S. Drops Bid Over Royalties From Chevron

By EDMUND L. ANDREWS October 31, 2006 WASHINGTON, Oct. 30 — The Interior Department has dropped claims that the Chevron Corporation systematically underpaid the government for natural gas produced in the Gulf of Mexico, a decision that could allow energy companies to avoid paying hundreds of millions of dollars in royalties. The agency had ordered […]

UpstreamOnline: Nigerian workers threaten to down tools

By Upstream staff Nigerian unions today threatened to shut all oilfields operated by Italian oil company Agip unless it paid staff a security bonus reflecting the rising risks of working in the Niger Delta. The strike threat came as protesters left two of the four oil pumping stations they were occupying in Rivers State, and […]

The Moscow Times: EU Seeks Clarity on Energy Projects

Tuesday, October 31, 2006. Issue 3530. Page 1. By Miriam Elder Staff Writer     EU Energy Commissioner Andris Piebalgs urged Russia on Monday to improve its investment climate and cautioned that the country needed a lot of cash quickly if it hoped to meet the growing European demand for natural gas. A senior U.S. official, […]

The Times: Stern warning: The review on climate change marks a turning point

October 31, 2006 There is much talk, some of it vacuous, about a “tipping point” for the global climate. But the debate has certainly reached a tipping point. The Treasury has published Sir Nicholas Stern’s review when public concern is mounting and all three main political parties are scrambling to claim a green mantle. Sir […]

The Times: BP had a “checkbook mentality” towards safety

Natural resources  October 31, 2006 Need to Know BP had a “checkbook mentality” towards safety and was aware of maintenance backlogs and unsafe equipment at Texas City years before the fire that killed 15 workers in 2005, said US safety officials.  US crude oil futures fell more than $2, dropping under $59 a barrel, as […]

Daily Telegraph: BP ‘ignored safety risks over refinery disaster’

(Lord Browne: facing demands to testify in a Texas court) By Russell Hotten, Industry Editor Last Updated: 1:11am GMT 31/10/2006 An interim report into a fatal oil refinery explosion accuses BP of ignoring “catastrophic safety risks” and of knowing about “significant safety problems” at another 34 facilities around the world.   The US Chemical Safety […]

The Guardian (UK): ‘Final piece in the jigsaw’

Tuesday October 31, 2006 Scientists “This should be a turning point in a debate which has pitted short term economic interests against long-term costs to the environment, society and the economy”. Martin Rees, president, Royal Society “The review closes a chasm that has existed for 15 years between the precautionary concerns of scientists and the […]

Lloyds List: BP turns Thunder Horse into positive learning experience

British oil major opts for positive spin as production delayed by subsea systems faults, writes Martyn Wingrove, Lloyds List: Published: Oct 31, 2006 BP WANTS to use the lessons it learns at the troubled Thunder Horse project in the Gulf of Mexico to help develop its next generation of projects, including the large Kaskida discovery. […]

Lloyds List: Shell set to break water depth records with Perdido development

Published: Oct 31, 2006 SHELL will be breaking several water depth records with its Perdido development project in the US Gulf of Mexico including taking subsea completions to new depths, writes Martyn Wingrove. The Anglo-Dutch oil major will be working with California-based Chevron and British oil group BP to develop three fields in ultra deepwaters […]

The Wall Street Journal: Cost Cuts’ Role In BP Refinery Blast

U.S. Cites Cost Cuts’ Role In BP Refinery Blast Safety Board Lays Blame With Top-Level Decisions, Raising Firm’s Legal Risks By CHIP CUMMINS October 31, 2006; Page A3 Cost-cutting efforts by senior management at BP PLC contributed to a deadly explosion at a refinery in Texas last year, federal investigators said, a finding that ratchets […]

The Wall Street Journal: Oil News Roundup: October 30, 2006 5:32 p.m.

THE WALL STREET JOURNAL ONLINE October 30, 2006 5:32 p.m. Crude-oil futures tumbled nearly 4% to close at less than $59 a barrel on the New York Mercantile Exchange, as traders again expressed skepticism about OPEC’s ability to keep a floor under prices in a world flush — for the moment, at least — with […]

AFX News Limited: Mitsubishi Corp H1 net profit hits record, hikes FY forecast

10.31.2006, 12:10 AM TOKYO (XFN-ASIA) – Mitsubishi Corp reported record net profit for the fiscal first half, thanks to higher commodity prices, prompting the company to upgrade its full-year forecasts. Japan’s largest trading house said net profit for the six months to September increased 32 pct from a year earlier to 234.83 bln yen. Operating […]

andnetworkcom: Nigerian villagers extend protest at oil platforms

October 31, 2006   Villagers occupying four oil pumping stations in Nigeria extended their protest to a third day on Friday in the hope of extracting contracts from Western oil companies. The protesters had agreed on Wednesday to vacate the facilities on condition that they were given contracts to supply food and speed boats to […]

Indymedia: Shell’s Rossport Pipeline

Monday, Oct. 30, 2006 at 9:32 PM Detailed description of the issues surrounding the pipeline Shell wish to build through Rossport, a small village in the north west of Mayo. Shell’s pipeline through Rossport is extraordinarily dangerous: As acknowledged by Minister Dempsey in a written Dail reply to Deputy Michael Ring, it is unparalleled not […]

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