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Posts from ‘December, 2006’

OUR DIRE WARNINGS ABOUT SAKHALIN II SINCE JULY 2005

A file of our news stories stretching back to July 2005 concerning the former Royal Dutch Shell Sakhalin II project can be found on the link below: – http://www.shellnews.net/blog/our-dire-warnings-about-sakhalin-since-july-2005.html With all due modesty, no one has run alarm bells as loudly or as long about this ill fated project or have been as accurate in […]

Royal Dutch Shell Plc .com headline of the year: Energy giants cede Putin control with a thank you

(Man of the people … Vladimir Putin greets children in Moscow’s Red Square. Photo: AP/Yuri Kochetkov) The New York Times Steven Lee Myers in Moscow INSIDE the Kremlin last week, the executives of three big international companies – Royal Dutch Shell, Mitsubishi and Mitsui – heaped praise on the man whose government had forced them […]

International Herald Tribune: Despite troubles in Africa, stampede for oil unabated

By Heidi Vogt The Associated Press Sunday, December 31, 2006 DAKAR, Senegal Angola is joining the Organization of Petroleum Exporting Countries, African oil exploration is booming, and China is investing. The stampede for oil in Africa has continued even as militant attacks in some countries and precarious governments in others make returns uncertain there. Though […]

Reuters: Gazprom’s Sakhalin-2 buy may let EBRD off the hook

EXTRACT: POOR RECORD: The EBRD is supposed to demand strict environmental compliance from its borrowers and green groups said Shell’s poor record in managing Sakhalin-2 meant the project did not qualify. THE ARTICLE Sun Dec 31, 2006 3:22 PM GMT   By Tom Bergin LONDON (Reuters) – Russian gas giant Gazprom’s decision to take a majority […]

The Sunday Telegraph: EBRD set to deny loan to Sakhalin

By Sylvia Pfeifer 31 December 2006 Europe’s top development bank is set to walk away from the Sakhalin-2 energy project in what will be seen as an embarrassing snub to the renationalisation policy of Vladimir Putin, the Russian president. The London-based European Bank for Reconstruction & Development – which was established to encourage free markets […]

Petroleum News: Mackenzie natural gas pipeline project assailed from all sides

Week of December 31, 2006 Proponents of the Mackenzie Gas Project have invested about C$500 million in the venture so far, but a confluence of rising costs, weakening economics and aboriginal resistance that has slowed down the regulatory process could still undo that commitment, TransCanada Chief Executive Officer Hal Kvisle has warned. In a year-end […]

Houston Chronicle: Energy sector could see more mergers in ’07

Production and access challenges may drive growth By KRISTEN HAYS Oil exploration and production companies that have enjoyed record profits fueled by high commodity prices over the last two years may go to the altar in 2007 to keep growing. Analysts say the energy sector could see more mergers and acquisitions to counteract difficulty in […]

The Washington Monthly: BEHOLDEN TO BIG OIL

BEHOLDEN TO BIG OIL…. If I didn’t know better, I might just think the Bush administration is a little too cozy with the oil industry. The Justice Department is investigating whether the director of a multibillion-dollar oil-trading program at the Interior Department has been paid as a consultant for oil companies hoping for contracts. The […]

The Observer: Bosses must win or walk the plank

There will be bruises as predators, politicians and regulators get stuck in. Chief executives will have to rise to the challenge if they want to keep their jobs – and their huge salaries. Oliver Morgan reports Sunday December 31, 2006 Politics are likely to play a big role in the last full year that Lord […]

The Sunday Telegraph: EBRD set to deny loan to Sakhalin

By Sylvia Pfeifer 31 December 2006 Europe’s top development bank is set to walk away from the Sakhalin-2 energy project in what will be seen as an embarrassing snub to the renationalisation policy of Vladimir Putin, the Russian president. The London-based European Bank for Reconstruction & Development – which was established to encourage free markets […]

ShellNews.net: Coming soon… the inside story on the Sakhalin II debacle

By Alfred Donovan Saturday 30 December 2006 The Sakhalin II project and related backdrop events have been marked by deception, double-dealing, corruption, massive pollution, intrigue, blackmail, murder and spies. Some might unfairly say this constitutes a fairly typical Shell project, as per the example of Shell’s activities in Nigeria. With the assistance of a number […]

The New York Times: Russia Gas Standoff With Belarus Intensifies

By ANDREW E. KRAMER Published: December 30, 2006 MOSCOW, Dec. 29 — For Gazprom, the Russian energy monopoly, 2006 is ending as it began: in a dispute over prices and control of a pipeline in a neighboring country that is threatening the smooth flow of natural gas to Europe. But this time, the price increase […]

The New York Times: Gas Investors Bow to Pressure on Recovering Expenses

(Photo: Joseph Sywenkyj for The New York Times: The Sakhalin 2 project in Russia’s Far East is still under construction. Last week Gazprom took control of the project when foreign developers, led by Royal Dutch Shell, agreed to sell it 50 percent plus one share.)   By ANDREW E. KRAMER MOSCOW: The Russian government has […]

Financial Times: Amvescap advances on bid rumours

By Robert Orr Published: December 30 2006 02:00 | Last updated: December 30 2006 02:00 The year’s worst performer was Carnival, the cruise-ship operator, while other notable underperformers included oil giant BP and GlaxoSmithKline, the pharmaceuticals company. With the price of crude falling below $60 a barrel for the first time in a month,oil stocks […]