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Posts from ‘November, 2006’

Bloomberg Russians Mask Economy’s Weakness With Shopping, Building Frenzy

EXTRACT: In mid-November, government environmental inspectors vowed to revoke the licenses of oil giant Royal Dutch Shell Plc to continue work on a Far East oil exploration venture called Sakhalin 2, in which Shell has a 55 percent stake. Iskyan says the government’s motive is to win a controlling stake in the project for itself. […]

American Enterprise Institute for Public Policy Research: What Does Putin Want?

(Leon Aron, resident scholar at AEI.)    EXTRACT: Putin’s statist ideology has also been felt by the main foreign investors in Russia’s oil sector. This past fall, the Kremlin halted or threatened to halt operations by Royal Dutch Shell, ExxonMobil, France’s Total, and the Russian-British TNK-BP. Notwithstanding official explanations for this move–from environmental violations to […]

The Miami Herald: FIRMS FINED FOR PRICE-FIXING RUBBER: EU cartel case: Royal Dutch Shell fined $211 million

Thu, Nov. 30, 2006 FLORIDA BUSINESS BRIEFS From Miami Herald Staff and Wire Services The European Commission fined five oil refiners and chemical producers about $682 million, saying they fixed the price of synthetic rubber used to make tires. A sixth company that had alerted authorities escaped a fine. It was the second-largest fine ever […]

Lloyds List: I spy with my little’: Russian secret services… infiltrating SAKHALIN Energy

Last Word Published: Nov 30, 2006 SAKHALIN Energy has tightened its own security, apparently in a bid to prevent Russian secret services from infiltrating the organisation that is developing oil and gas fields off the nation’s east coast. The Shell-led consortium has added new computer technology by installing spyware to protect laptops and office computers […]

Irish Times: Protesters ‘interrogated’locals, says superintendent: ‘Shell’s Corrib gas pipeline’: ‘co-ordinated campaign of intimidation’

By: Conor Lally, Irish Times Published: Nov 30, 2006 The senior Garda officer in charge of policing the protest at Shell’s Corrib gas pipeline has said some protesters had established checkpoints on roadways in parts of Mayo at which they “interrogated” local people for up to 45 minutes before refusing passage to some. Supt Joe […]

Financial Times: REBEL INVESTORS AND THEIR TARGETS

Published: November 30 2006 02:00 | Last updated: November 30 2006 02:00 Nov 27 2006ASM International: Break-up vote by rebel shareholders is defeated. Nov 14 2006 Stork refuses to implement shareholder-backed break-up of company. Nov 6 2006 Ahold unveils own growth strategy, having spurned rebel investors’ break-up plan. Sept 29 2006 Philips spins off semi-conductor […]

Financial Times: Dutch boards stand up to activist investors

EXTRACT: …Royal Dutch Shell, the Anglo-Dutch energy group, acknowledged that investor unrest was key to its decision to unwind its cumbersome century-old dual-headed governance structure. THE ARTICLE By Ian Bickerton in Amsterdam: Published: November 30 2006 02:00 | Last updated: November 30 2006 02:00 Activist investors have chalked up more than their share of triumphs […]

Financial Times: EU fines synthetic rubber cartel €519m

By Tobias Buck in Brussels: Published: November 30 2006 02:00 | Last updated: November 30 2006 02:00 Chemical and energy groups including Shell, Dow, Eni and Bayer were yesterday punished for operating a price-fixing cartel in the market for synthetic rubber, a ruling that triggered the second highest fine yet imposed by the European Commission. […]

Financial Times: Hambro Mining hit as Russia warnson licences: ‘Mr Mitvol… seen by some… as a maverick and publicity-seeker..’

By Rebecca Bream in London and Arkady Ostrovsky in Moscow: Published: November 30 2006 02:00 | Last updated: November 30 2006 02:00 Shares in Peter Hambro Mining, the London-listed, Russia-based gold producer, fell 14 per cent yesterday after a Russian government environmental watchdog threatened to revoke some of its mining licences. Oleg Mitvol, deputy head […]

Financial Times: Western Oil seeks partner

By James Politi in New York Published: November 30 2006 02:00 | Last updated: November 30 2006 02:00 Western Oil Sands, the Canadian energy company, may be looking for a downstream partner to help it better exploit its main asset, a 20 per cent stake in the $5bn Athabasca oil-sands venture. Western said it had […]

AFX News Limited: Royal Dutch Shell plans ‘considerable’ investments in Bolivian gas sector-report

11.30.2006, 02:35 AM AMSTERDAM (AFX) – Royal Dutch Shell is planning ‘considerable’ investments in the Bolivian gas sector, Dutch daily Het Financieele Dagblad reported, citing Bolivian energy minister Carlos Villegas Quiroga. The oil major also intends to sell part of its 25 pct stake in Bolivian gas transport company Transredes back to the Bolivian state, […]