Posts on ‘December 19th, 2006’

Wednesday 20 December 2006 � Royal Dutch Shell, Total and eight other construction and oil companies are appealing �267m in EU fines for fixing prices of bitumen, a petroleum by-product used to make asphalt. � Russia’s proposed acquisition of a majority stake in the Royal Dutch Shell-led Sakhalin-2 oil and natural-gas project may hurt Shell’s [...]

Wednesday, December 20, 2006. Issue 3565. Page 8. By Yulia Latynina � Royal-Dutch Shell is going to end up handing half of its shares in the Sakhalin-2 oil and gas project to Gazprom. When Gazprom first said it wanted a stake, it could not reach agreement with Shell on a price. That is when Oleg [...]

By Tom Miles and Dmitry Zhdannikov Reuters Wednesday, December 20, 2006. Issue 3565. Page 5. Shell and its partners in the $22 billion Sakhalin-2 project have accepted cash and a promise of future cooperation with Gazprom in a deal to let the Russian firm into the venture, a source close to talks between the companies [...]

Crude-oil futures rebounded to more than $63 a barrel on the New York Mercantile Exchange, boosted by expectations that U.S. government data due Wednesday will show crude inventories fell last week and by gasoline prices, which hit a three-month high. Here is Tuesday’s roundup of oil and energy news: * * * TRANSITION AT BP: [...]

By Kamarul Yunus ahmadk@nstp.com.my December 20 2006 KUALA LUMPUR-based Shell Global Solutions (SGS), a unit of oil giant the Royal Dutch Shell, expects its Malaysian operations to register a double-digit growth in sales next year. However, the company declined to reveal any financial details. SGS provides business and operational consultancy, technical services and research and [...]

Last Update: 3:29 PM ET Dec 19, 2006 LONDON (MarketWatch) — Royal Dutch Shell PLC’s (RDSB.LN) reserves replacement may be under pressure if it cedes control to Gazprom (GSPBEX.RS) in Sakhalin-2, its largest oil and gas project, credit agency Fitch Ratings said Tuesday. Cutting some of the Sakhalin reserves would be bad news for Shell, [...]

By: Lorna Siggins, Marine Correspondent, Published: Dec 19, 2006 North Mayo fishermen have turned down a 1 million plan to restock lobster grounds which would have been paid for by Shell E&P Ireland. The proposal could have involved additional funding and support from An Bord Iascaigh Mhara, the State’s fisheries development board. A shellfish grouping [...]

By: Brand concerns beat catastrophes as top bugbears, writes James Brewer, Lloyds List: Published: Dec 19, 2006 BIG energy companies are far more worried about damage to brand and reputation than natural catastrophes that can hit their installations, a survey by Willis broking group has shown. Willis asked senior risk managers from BP, BG, Chevron, [...]

Published: December 19 2006 02:00 | Last updated: December 19 2006 02:00 If there is one word that sums up 2006 for the global energy industry, it is nyet. The year kicked off with Gazprom, Russia’s state-controlled energy giant, briefly cutting off gas supplies to Ukraine. By December, Royal Dutch Shell was painfully aware that [...]

Published: December 19 2006 02:00 | Last updated: December 19 2006 02:00 Today the Financial Times publishes the second part of a long investigation into the environmental and safety record of BP, one of the largest companies in the world. The investigation highlights a worrying series of accidents in the US. For oil companies, faced [...]

By ANDREW HILL Published: December 19 2006 02:00 | Last updated: December 19 2006 02:00 The Russian regulatory epic has placed Peter Hambro Mining, the gold miner, somewhat uncomfortably alongside Royal Dutch Shell, still wrangling with Moscow over its Sakhalin-2 project. Rosprirodnadzor, the natural resources ministry’s environmental watchdog, has been casting an eye over both [...]

Region welcomes foreign investors By HEIDI VOGT Associated Press DAKAR, Senegal – Angola is joining the Organization of Petroleum Exporting Countries, African oil exploration is booming and China is investing. The stampede for African oil has continued, even as militant attacks in some countries and precarious governments in others make returns uncertain. Though much of [...]

13:26 | 19/ 12/ 2006� MOSCOW, December 19 (RIA Novosti) – International rating agency Fitch Ratings said Tuesday a mooted deal on the acquisition by Gazprom [RTS:GAZP] of a controlling stake in the vast Sakhalin II energy project in the country’s Far East would certainly benefit Russia’s energy giant, but could have a credit impact [...]

By Stephen Voss Dec. 19 (Bloomberg) — Russia’s proposed acquisition of a majority stake in the Royal Dutch Shell Plc-led Sakhalin-2 oil and natural-gas project may hurt Shell’s goal of replacing reserves, Fitch Ratings Ltd. said. Shell executives have said they expect to reach an agreement to give state-run energy company OAO Gazprom a controlling [...]

Gazprom is to supply gas directly to French homes and firms for the first time through a deal with Gaz de France. The Russian firm will start supplying French customers in July, providing 1.5 billion cubic metres a year to them. The two firms have extended existing supply contracts to 2030, enabling Gazprom to deliver [...]