Posts on ‘January 9th, 2007’

EXTRACT: Even after the fall, Cairn India is worth nearly $5.5 billion. Cairn Energy bought out Royal Dutch Shell’s 50% share in the Rajasthan project for $7.25 million in 2002. THE ARTICLE  Wednesday 10 January 2007 Initial public offerings are generally priced around a 15% discount to fair value. So when a new issue tanks 14%, [...]

Crude-oil futures fell, but recovered some lost ground by the end of the trading session, as U.S. weather forecasts predicted more winter-like weather in the coming days. Here is Tuesday’s roundup of oil and energy news: * * * MORE RUSSIAN FALLOUT: German Chancellor Andrea Merkel blasted Russia for cutting off a key oil-supply line [...]

Published: 2004/01/09 09:44:30 GMT Giant oil group Royal Dutch Shell has said it is trimming its figures for proven oil and gas reserves by 20%.  Stunned investors promptly began a sell-off that knocked more than 7% off the Anglo-Dutch firm’s share price in both London and Amsterdam.  Shell said it does not expect the reassement [...]

By Alfred Donovan  Just a few comments about our claim against Shell which ended in a long High Court Trial…Prior to the “SMART” case, Shell had already settled several previous High Court actions in our favour paying several hundred thousand in damages, all of which was ploughed back into further litigation when new causes for action became apparent. Every [...]

JULIAN  EVANS, MOSCOW  January 9, 2007             I imagine Sergei Lavrov is feeling a little blue this New Year period. Imagine if you will – everyone else in the Cabinet is at the New Year party, popping champagne and congratulating each other for their brilliance at managing all that petro-wealth. Then their eyes fall on Seryozha, [...]

January 09, 2007 Mark Bridge   BP’s fourth quarter update is par for the course. Disappointing output figures and reams of explanation. We could and should be doing well, the statement says, but we’ve had such bad luck. It is tempting to accept this. To read recovery into the slight gain on the third quarter. [...]

(Associated Press: Gazprom, the Russian-controlled natural gas giant, took a majority stake in the $7.4 billion Sakhalin-2 project. The deal was negotiated after the international consortium developing the project was accused of environmental violations that carried billions of dollars in fines.) Selective enforcement of laws targets political opponents By DAVID HOLLEY 1/7/2007  MOSCOW – Russia’s [...]

Created: 09.01.2007 11:19 MSK (GMT +3), Updated: 13:18 MSK, Azerbaijani oil supplies via Russia to Europe have been halted for more than a week in an energy price row with Russia, the Xinhua news agency reports quoting a statement by the Azerbaijan’s state-owned oil company SOCAR. The dispute flared up after Russian state gas firm [...]

Anglo-Dutch oil major is most important charterer again despite losing ground in VLCCs, writes Tony Gray, Lloyds List Published: Jan 09, 2007 ‘You can be sure of Shell’ is one of the Anglo-Dutch oil major’s advertising slogans that the tanker market will enthusiastically endorse. In 2006, Shell again emerged as the most important charterer of [...]

By Ed Crooks Published: January 8 2007 02:00 | Last updated: January 8 2007 02:00 Sir Bill Gammell’s contention that the oil industry is “all about creativity” is nowhere better illustrated than in Cairn India’s oil fields in Rajasthan, writes Ed Crooks. Cairn Energy bought out Royal Dutch Shell’s 50 per cent share in the [...]

By Mark Odell Published: January 9 2007 02:00 | Last updated: January 9 2007 02:00 Hardy Oil & Gas said it had made a discovery off eastern India, its first exploration success since listing on Aim in mid-2005. The shares rose as much as 10 per cent on the announcement, in thin trading, before settling [...]

By REUTERS Published: January 9, 2007 Filed at 2:07 a.m. ET TOKYO (Reuters) – A U.S. nuclear submarine and a Japanese tanker collided in the Gulf, but there were no injuries or oil leaks, officials of the tanker’s owner and the U.S. military said on Tuesday. The USS Newport News submarine and the Mogamigawa Japanese [...]

Terry Macalister Tuesday January 9, 2007 ExxonMobil has promised investors it will “soften” its public image in an attempt to rid itself of a reputation as the green campaigners’ public enemy number one. However, the chairman and chief executive, Rex Tillerson, made clear to a select group of Wall Street fund managers and analysts that [...]

· Supply disrupted to Germany and Poland · European Union demands urgent explanation Tom Parfitt in Moscow and agencies Tuesday January 9, 2007 A bitter energy dispute jeopardised oil supplies to western Europe yesterday as Belarus struck out at neighbouring Russia by cutting off a vital transit pipeline crossing Belarusssian territory. The closure of the [...]

January 09, 2007 Tony Halpin in Moscow, Christine Seib and Roger Boyes Alarm at Moscow’s strong-arm tactics Merkel tells The Times ‘we need secure energy’   Europe’s oil supplies from Russia were being held to ransom last night as the Kremlin fell into bitter dispute with a former Soviet satellite state.    Moscow abruptly halted [...]