Posts on ‘February 9th, 2007’

Crude-oil futures rose to a fresh five-week high of nearly $60 a barrel after Nigeria’s state oil company declared force majeure on crude cargoes as part of a government directive to cut output. Here is Friday’s roundup of oil and energy news: * * * CARBON CONTEST: Sir Richard Branson announced a $25 million prize [...]

11:19 Friday February 9th 2007   Opponents of the Corrib gas pipeline in Co Mayo have announced plans to hold a national demonstration in Dublin later this month as part of their ongoing campaign. The rally by the Shell to Sea group will be held on Saturday, February 24th. Last month, the Environmental Protection Agency announced [...]

By Adam Zagorin/Washington If it helped isolate apartheid-era South Africa, why couldn’t it do the same for Iran? That’s the question some U.S. and Israeli officials are posing, as they ramp up efforts to get big institutional investors to divest themselves of any companies that do business with Tehran. As part of this escalating war [...]

CALGARY (CNS) — Husky Energy Inc. says it may team up with Royal Dutch Shell on research to recover oil trapped in limestone, but a commercial oilsands project is still a long way off. CEO John Lau said Tuesday his company is reviewing different technologies to access the vast reserves believed to be buried underground [...]

BY CLAUDIA CATTANEOCalgary Bureau Chief Financial Post ccattaneo@nationalpost.com CALGARY • CIBCWorldMarkets, hired by Shell Canada Ltd. directors to evaluate a minority takeout bid from its parent, values its shares at between $42 and $48, a directors’ circular said yesterday. A committee of directors, headed by Derek Burney , agreed to back a $45 price because [...]

The Associated Press Published: February 9, 2007 MOSCOW: Russia’s subsoil agency has given BP PLC’s Russian joint venture three months to fix licensing violations at its giant Kovykta natural gas development or risk losing the license to develop the field, Russian environmental regulator Oleg Mitvol said Friday. Observers say that intense regulatory pressure on Royal [...]

By Barry Morgan Security and political risk consultancy Control Risks confirmed today that the Nigerian federal government has put all available security agents on “red alert” in the oil hub of Port Harcourt in the country’s oil-rich Niger Delta. The move follows Wednesday’s kidnapping in broad daylight of a subcontractor working for Total and that [...]

By the end of this decade, Britain will have become an importer of both natural gas and oil, a radical change for a country used to plentiful North Sea reserves. By 2020, Britain will be relying on potentially unreliable and politically unstable suppliers – principally Algeria and Russia – for most of its energy. It [...]

By JOHN PORRETTO AP Business Writer © 2007 The Associated Press Feb. 9, 2007, 12:23PM HOUSTON — With dwindling oil supplies, pollution concerns and the ever-present threat of gas prices soaring again, talk of new and better ways to fuel our cars, heat and cool our homes, and power our factories has never been greater. [...]

Posted: 09 Feb 2007 The Bush Administration has lifted the restriction on development at Alaska’s Bristol Bay to allow oil and gas exploration and drilling. This overturns decades of bipartisan protection of the Bay which is the backbone of Alaska’s fishing economy as well as home to critical habitat for numerous endangered and threatened species. [...]

By Fred Pals Feb. 9 (Bloomberg) — Royal Dutch Shell Plc and Exxon Mobil Corp. started pumping natural gas from a Dutch wetland that contains as much as 20 billion cubic meters of the fuel. Shell and Exxon’s joint company has licenses to explore and produce for three decades in blocks in the Wadden Sea [...]

If the answer to any of the above questions is yes, then you may find this article by John Donovan to be of interest… The first difficulty faced by potential litigants considering suing Shell, is finding a law firm with the required resources which does not have a conflict of interest and is willing to confront [...]

13:07 | 09/ 02/ 2007  TOKYO, February 9 (RIA Novosti) – Osaka Gas has signed a preliminary agreement with Sakhalin Energy, the operator of a vast oil and gas project off Russia’s Pacific Coast, on long-term deliveries of liquefied natural gas (LNG), the Japanese company said Friday. According to the agreement, signed in Moscow Thursday, [...]

By ANDREA R. MIHAILESCU UPI Energy Correspondent WASHINGTON (UPI) Putin: Russia over-reliant on raw material exports President Vladimir Putin told Russia’s most influential businessmen the country is over-reliant on raw materials and called on companies to move toward producing higher-value exports. Putin said unprocessed raw materials accounted for a rising share of exports, increasing from [...]

Published: Feb 09, 2007 Ground Floor: The report from the Intergovernmental Panel on Climate Change last week concluded that people are responsible for global warming and our past actions may have effects for centuries to come. It has become a chain reaction which we can’t stop; we can only modify our behaviour so we don’t [...]