DOW JONES NEWSWIRES January 29, 2007 9:29 a.m. HOUSTON — Tesoro Petroleum Corp. acquired Royal Dutch Shell PLC’s Los Angeles-area refinery for $1.63 billion, in a move to enhance its position as the leading West Coast refiner. Tesoro Chief Executive Bruce Smith announced plans to acquire the 98,000 barrel a day refinery on Monday. The [...]
Posts from ‘January, 2007’
Guardian Unlimited: Shell defies US pressure and signs £5bn Iranian gas deal
Terry Macalister Monday January 29, 2007 Shell has signed an important deal to help Iran develop a major gas field, ignoring growing pressure from George Bush to isolate the country for being part of what he alleges is an “axis of evil”. The Anglo-Dutch group, which is struggling to bring more momentum to its business [...]
mediabite.org: Gas, Gaeilge and the Media: important article relating to Corrib pipeline battle
Gas, Gaeilge and the Media: A Systematic ‘Trend’ The private media are major corporations selling a product (readers and audiences) to other businesses (advertisers).” ['Manufacturing Consent' by Edward Herman and Noam Chomsky] [5] Ireland‘s most influential news organisations are all to a large degree dependent on advertising as their principle form of revenue. And those [...]
Bloomberg: Tesoro to Buy Shell Plant, Stations for $1.63 Billion (Update1)
By Victor Epstein Jan. 29 (Bloomberg) — Tesoro Corp., a Texas refiner, agreed to buy Royal Dutch Shell Plc’s refinery near Los Angeles and 140 filling stations for $1.63 billion, to lift its capacity to process low-cost crude and tap the largest U.S. fuel market. The filling stations, located in Southern California, will continue to [...]
ShellNews.net: Shell deal in California helps to clear obstacles to BP/Shell mega-merger
Message posted on Live Chat following announcement of Shell sale of assets in California as announced today, 29 January 2007. guest_9321 : Shell’s sale of Californian downstream assets will avoid excessive concentration of downstream capacity in the event of a merger – BP is already No. 1 in California according to their website This is [...]
Accountancy Age: Oil giant Shell is facing a a new accounting crisis
Nicholas Neveling, Accountancy Age, 29 Jan 2007 Sakhalin to hit Shell reserves accounting Shell may be forced to cut oil reserves by a billion barrels after halving stake in Sakhlin joint venture with Russian government. Oil giant Shell is facing a a new accounting crisis as analysts predict that the oil group will have to [...]
Royal Dutch Shell Plc: Shell signs agreements to sell Los Angeles Refinery and related assets to Tesoro
Royal Dutch Shell plc today welcomed the below announcement by Shell Oil Products US that it has signed an agreement to sells its Los Angeles Refinery and related assets to Tesoro: Houston – Jan. 29, 2007 – Shell Oil Products US announced today that it has signed agreements to sell its Los Angeles Refinery, Wilmington [...]
The Moscow Times: Gazprom-Linked Firm Makes Yukos Bid
EXTRACT: President Vladimir Putin has since made it clear that Russian companies will have a controlling stake in all major energy projects, a point driven home when Shell and its Japanese partners handed over a controlling stake in the Sakhalin-2 oil and gas project to Gazprom last month after prolonged state pressure. THE ARTICLE Monday, [...]
Kommersant: TNK-BP Receives Unfavorable Verdict in Kovykta Inspection
EXTRACT: “…it is likely that the report from Rosprirodnadzor will help Gazprom in its attempt to wrestle control of the company from TNK-BP. In Mr. Nesterov’s opinion, the situation will play out similarly to Sakhalin-2, in which the environmental oversight authorities ceased their attacks once Gazprom joined the project.” THE ARTICLE Gazprom and TNK-BP Will [...]
Western Mail (UK): Royal Dutch Shell results
Jan 29 2007 Oil giant Royal Dutch Shell will set another profits record when it posts full-year results on Thursday. Soaring oil prices mean broker UBS expects a net income figure in the region of £12.22bn, which far exceeds Shell’s previous best of £11.67bn set last year. But the performance in the fourth quarter, [...]
The Wall Street Journal: Gazprom Goes on the Offensive
Official Defends Supply Moves As Russian Titan Tries to Polish Image By MARC CHAMPION January 29, 2007; Page A12 DAVOS, Switzerland — Two things anger Alexander Medvedev, the man in charge of Russian energy giant OAO Gazprom’s exports. One is being told the company isn’t doing enough to develop its natural-gas reserves. The other: that [...]
The Guardian: Shell and Repsol sign gas production deal with Iran
Monday 29 January 2007 Royal Dutch Shell and Spain’s gas and oil company Repsol have signed an initial agreement with Iran to assess the feasibility of producing liquified natural gas from the South Pars field, despite increasing pressure on western firms to refrain from investing in the country. The deal is understood to be worth [...]
Daily Telegraph: The week ahead: Royal Dutch Shell
29/01/2007 Royal Dutch Shell will post another full-year profits record thanks to soaring oil prices. Broker UBS expects net income of about $24.06bn (£12.22bn), exceeding the group’s previous best of $22.94bn (£11.67bn) set last year. But the performance in the fourth quarter, when profits are likely to be marginally lower, will carry more interest for [...]
The Charleston Gazette: Ravaged
Oil drilling damage January 29, 2007 As world energy needs soar, ravages by industries seeking fossil fuels are inescapable. West Virginia’s mountaintop removal mining is a well-known example. Similarly, the February National Geographic paints a stark portrait of how Nigeria’s addiction to cash from oil kills environmental treasures and impoverishes native peoples. Nigeria’s abundant [...]
The Times: BP and Shell facing investor pressure as US rival’s stock rises
Monday, January 29, 2007 Carl Mortished, International Business Editor BP and Royal Dutch Shell face bruising encounters with shareholders over the next fortnight as the two European oil giants try to explain at strategy presentations why a year of record oil prices has failed to generate good investment returns. Fund managers are shunning BP, [...]


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