· Analysts give warning on eve of US safety report · Company braced for strong criticism Terry Macalister Tuesday January 16, 2007 The management vacuum left by the unexpected announcement that Lord Browne will leave his chief executive post this summer – 17 months earlier than planned – could mean that investors will regard BP [...]
Posts on ‘January 15th, 2007’
Financial Times: Seasoned greetings
By Maggie Urry Published: January 16 2007 A late Christmas card – late even by the Russian calendar – turns up from the Sakhalin Energy Investment Company, which runs the Sakhalin-2 gas and oil project. Christmas must have been a pretty glum affair there, with Vladimir Putin playing the Grinch role just before the holidays, [...]
The Wall Street Journal: Beijing’s Gas Ties to Iran Grow
CNPC Is Latest Firm To Arrange LNG Deal; U.S. Voices Concerns By DAVID WINNING January 15, 2007 BEIJING — China is set to deepen its involvement in Iran’s energy sector through a $3.6 billion liquefied natural-gas project led by its biggest oil company, ignoring pressure from the U.S., which opposes all business dealings with the [...]
The Wall Street Journal: Cheaper Oil May Jolt Industries, Economies
EXTRACT: Major oil companies also are likely to see shrinking earnings from their oil-production operations, the largest source of income for integrated oil companies like Exxon Mobil Corp., BP PLC, Royal Dutch Shell PLC, Chevron Corp. and others. THE ARTICLE Shift Could Help Lift Auto, Airline Profits, Dent Producers’ Clout By MARK WHITEHOUSE, ANN DAVIS [...]
The Wall Street Journal: Report Broadens Criticism Of BP Safety Practices
Baker panel outlines ‘systemic’ problems with U.S. refineries By CHIP CUMMINS January 15, 2007 LONDON — BP PLC board members and executives face a report this week from former U.S. Secretary of State James A. Baker III that will significantly broaden criticism of safety and management practices at the British oil giant and heighten pressure [...]
The Wall Street Journal: CORN SCRAMBLE
15 January 2007 Fears are growing that the growing ethanol boom might severely limit the availability of corn, which is not only a staple food ingredient in many countries but is also widely used as feed in the poultry and livestock sectors. Not only could poorer consumers be prices out of the market, the move [...]
The Wall Street Journal: PRESSURING IRAN
ASIALINKS DAILY VIEW By MICHAEL CONNOLLY January 15, 2007 Further ignoring pressure from the U.S. after Beijing warned Washington not to meddle in its trade relations with Iran, China’s biggest oil company is set to deepen its involvement in Iran’s energy sector through a $3.6 billion liquefied natural-gas project. National Petroleum Corp. is finalizing a [...]
The Wall Street Journal: Lukoil’s Net Rose 10% in Quarter On Price of Crude
By GEOFFREY T. SMITH January 15, 2007 OAO Lukoil Holdings, Russia’s largest oil producer by volume, said its net profit rose 10% in the third quarter to $2.43 billion because of higher average crude-oil prices. The company said higher taxes had somewhat offset the higher oil price. The average price for Lukoil’s Urals blend of [...]
Globe & Mail (Canada): Global dealers bolstering Calgary ranks
BOYD ERMAN AND ANDREW WILLIS Update The hottest commodity in Calgary these days isn’t oil, but investment bankers who know the oil business. In a trend that points to foreign interest in Canadian energy companies, the biggest global investment banks are all bulking up in the capital of the oil patch to prepare for an [...]
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