Thursday 8 February 2007 • Royal Dutch Shell’s Oman venture will develop three new oilfields that may help stem a five-year decline in the country’s output of crude, the company said. • Star Energy, a natural-gas producer, plans to raise about Ł30mby selling shares to expand its gas-storage operations and pay debt. • BG Group [...]
Posts on ‘February 7th, 2007’
THE WALL STREET JOURNAL: Oil News Roundup: February 7, 2007 4:14 p.m.
Crude-oil prices pulled back from another shot at $60 and ended sharply lower Wednesday as weekly inventory data came in short of traders’ most optimistic expectations. Here is Wednesday’s roundup of oil and energy news: * * * •El Paso Settles Oil-for-Food Charges: El Paso will pay $7.7 million to settle civil and criminal charges [...]
Irish Times: Mayo Shell to Sea man to run for Seanad
Lorna Siggins, Published: Feb 07, 2007 A leading member of the Shell to Sea campaign in north Mayo is due to declare his intention today to run as a candidate in this year’s Seanad election. Dr Mark Garavan, a sociologist with the Galway-Mayo Institute of Technology (GMIT), will stand as an Independent candidate on the [...]
Financial Times: Britain ‘damaged’ by BAE probe
By Michael Peel, Legal Correspondent Published: February 7 2007 02:00 | Last updated: February 7 2007 02:00 The handling of the scrapped probe into alleged bribery by BAE Systems in Saudi Arabia has “damaged the reputation of Britain”, according to Sir Mark Moody-Stuart, chairman of Anglo American, the mining group. In a letter to Vincent [...]
Financial Times: BP clears the decks for Hayward with procession of bad news
By Ed Crooks, energy editor Published: February 7 2007 02:00 | Last updated: February 7 2007 02:00 “My bias is not to have regrets,” Lord Browne said yesterday. This followed his decision last month to step down as chief executive of BP at the end of July, 17 months earlier than planned. “Things are the [...]
Financial Times: BP’s clear-out
Published: February 7 2007 02:00 | Last updated: February 7 2007 02:00 Apart from a new leather chair, an incoming chief executive often reserves space in his new office for one other vital piece of equipment: a kitchen sink. Tony Hayward, the head of BP’s upstream business, who is due to take over running of [...]
The Guardian: Eco soundings: Campaigners outraged when Wildlife Photographer of the Year competition took sponsorship money from Shell
David Adam and John Vidal Wednesday February 7, 2007 Out of focus Campaigners were outraged when the Wildlife Photographer of the Year competition took sponsorship money from Shell. Protests and pleas for entries that highlighted the company’s less-than-glowing impact on the environment have now been followed by direct action: activists linked to last summer’s demonstration [...]
The Guardian: Successor shines as he leaves Sun King’s shadow: merger with Shell? Nothing on the cards right now…
Terry Macalister Wednesday February 7, 2007 The Sun King is dead: long live the Sun King – or so it seemed yesterday, as Tony Hayward stepped into the limelight at the BP annual results presentation for the first time since it was announced he would replace Lord Browne as chief executive this summer. Mr Hayward [...]
Daily Telegraph: BP shifts focus to safety not big deals
EXTRACT: There is speculation Moscow will seek greater control over TNK-BP’s assets in a repeat of the problems that hit Royal Dutch Shell’s Sakhalin 2 project. By Russell Hotten, Industry Editor Last Updated: 12:06am GMT 07/02/2007 BP chief executive-designate Tony Hayward has signalled that he plans a change of pace for the oil major as [...]
The Sun (UK): Lord Browne plays down BP rift: denied departure linked to clashes over a possible merger with SHELL
BP chief executive Lord Browne yesterday scotched talk of a boardroom row. Presenting the oil giant’s annual results for the last time, Lord Browne denied his departure was linked to clashes over a possible merger with SHELL. And he insisted it was unconnected with last month’s Baker report — which slammed BP’s safety record. He [...]
The Independent: BP takes axe to production targets: …refused to be drawn on whether BP interested in merger with Royal Dutch Shell.
Chief executive-designate puts safety before pursuit of profit. Analysts cut earnings forecasts By Michael Harrison, Business Editor Published: 07 February 2007 BP slashed its production targets yesterday and pledged to put safety and operational integrity at the top of its agenda following a horrendous year of setbacks for the world’s third-biggest oil company. Tony Hayward, [...]
Daily Express (Malaysia): Shell seeks to increase share in retail petrol mart
PETALING JAYA: Shell Malaysia, in its quest to remain as the country’s leading retail petrol player, wants to add another five percent in market share this year. This will be driven by sales of its new fuel product and the opening of new petrol stations, according to Shell Malaysia Trading Sdn Bhd’s managing director Mohzani [...]
The Wall Steet Journal: BP’s Next Slogan: ‘Beyond Probes’
Peter Sutherland Faces Tough Task at Oil Titan After Scandal, Missteps By CHIP CUMMINS and CARRICK MOLLENKAMP February 7, 2007; Page C1 LONDON — For years, Peter Sutherland’s most prominent public role as chairman of BP PLC was hosting the company’s annual meeting. But after a run of oil spills, deadly accidents and an energy-trading [...]
The Wall Street Journal: Investors Take BP’s Slippage In Output Forecasts Too Seriously
February 7, 2007 COMMENT FROM breakingviews BP’S fall from grace in recent months has been swift. But the oil and gas titan isn’t exactly going out of its way to redeem itself — yet. Although BP reported better-than-expected fourth-quarter profit, it also slashed its growth targets. BP said production would fall to 3.8 million or [...]
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