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Posts from ‘March, 2007’

Sunday Telegraph: Investors to quiz BP over Yukos bid

By Sylvia Pfeifer, Last Updated: 12:13am BST 01/04/2007 Some of BP’s largest shareholders have expressed grave misgivings over the role of the British oil giant in the controversial auction of the remaining assets of Yukos, the bankrupt Russian oil group, last week. At least two of BP’s top 20 shareholders are understood to be planning […]

Sunday Telegraph: Dancing with the Kremlin

Sunday 1 April 2007 You could almost feel sorry for Tony Hayward, BP’s chief executive in waiting. Before even starting the job he was catapulted into a diplomatic dilemma this month that makes Tony Blair’s efforts to negotiate with Tehran look like a walk in the desert. The intimidating venue was the Kremlin, where Hayward […] British oil worker abducted off Nigeria

April 1, 2007 A British oil worker was kidnapped from an offshore drilling rig in Nigeria yesterday, officials and industry sources said. “We can confirm there was an incident in the early hours of this morning in which a British national was taken hostage,” a spokeswoman for Britain’s Foreign Office in London said. “We are […]

The Washington Post: British oil worker abducted off Nigeria

By Tom Ashby Reuters Saturday, March 31, 2007; 10:05 AM LAGOS (Reuters) – Gunmen in two speedboats abducted a British oil worker in a pre-dawn raid on a drilling rig 40 miles off the coast of Nigeria on Saturday, officials and industry sources said. The gunmen first targeted a support vessel moored to the Bulford […]

Petroleum News: Shell eyes bigger quarters in Anchorage

Week of April 01, 2007: Vol. 12, No. 13  Oil Patch Insider Shell is said to be scouting commercial office space in Alaska on the lookout for at least 35,000 square feet to house a substantially expanded in-state exploration team. The Houston, Texas-based company currently maintains a small office in Anchorage, but has become increasingly […]

Petroleum News: Shell wins NOIA 2007 Safety in Seas Award

Week of April 01, 2007: Vol. 12, No. 13  Shell Exploration & Production Co. was awarded the 2006 National Ocean Industries Association Safety in Seas Award on March 29, recognizing the company’s “outstanding contribution to the safety of life offshore for energy workers,” NOIA said in a statement. Shell received the award for its “exceptional […]

UPI Energy Watch: Gazprom unable to join Sakhalin-2 by deadline

By ANDREA R. MIHAILESCU UPI Energy Correspondent Russian natural gas giant Gazprom is short of time to join the oil and gas project Sakhalin-2 by the end of March, ITAR-TASS reported Friday. Gazprom had hoped to complete the deal by March 31. “Sakhalin-2 is a very large project, and a great amount of details that […]

Financial Times: LETTERS TO THE EDITOR: Paint sector stripped almost to the base

EXTRACT: The location of Shell’s headquarters in the Netherlands away from the world’s top financial centre may be emulated by Barclays/ABN Amro if those two banks merge, showing that we favour cutting our nose to spite our prospects. THE ARTICLE By Martin Simons Published: March 31 2007 03:00 | Last updated: March 31 2007 03:00 […]

Borneo Bulletin: New Vessel For Brunei Shell

Bandar Seri Begawan – Brunei Shell Petroleum Company Sdn Bhd (BSP) has added another workhorse in support of the oil and gas industry. Last Monday saw the successful launching of the “MV Belait Aishah” in Port Kiang, Malaysia. The vessel is a Well Service Support/Offshore Maintenance Vessel (WSS/OM Vessel) and it is the very first […]

The Wall Street Journal: Exxon Forms $5 Billion Joint Venture In China With Sinopec, Saudi Aramco

By SHAI OSTER March 30, 2007 4:53 a.m. BEIJING — In one of the biggest deals of its kind, U.S. oil giant Exxon Mobil Corp. Friday signed a deal with Saudi Aramco and China Petroleum and Chemical Corp., better known as Sinopec, to expand an oil refinery in China’s rich southern province of Fujian and […]

The Wall Street Journal: Farmers Play Ethanol Roulette (includes commentary about Jeroen van der Veer)

If you’re hungry for WSJ energy news, but too busy to flip through the entire paper to find it, here’s a quick roundup: Across the U.S. plains, farmers are placing big bets on where the price of corn will go in 2007. They are preparing to plant more corn than they have in decades, spending […]

UpstreamOnline: Ex-Shell boss to spearhead Delta

Van de Vijver shakes off reserves scandal to form investment outfit CHRISTOPHER HOPSON London ROYAL Dutch Shell’s former upstream chief executive Walter van de Vijver is returning to the oil and gas industry, raising about $1 billion of private equity to form a new company called Delta Hydrocarbons. Van de Vijver has founded the new […]

Bloomberg: Gazprom, Shell Expect to Close Sakhalin-2 Deal By Year’s End

By Torrey Clark March 30 (Bloomberg) — Royal Dutch Shell Plc expects to cede control of the Sakhalin-2 project in Russia’s Far East to state-run OAO Gazprom by the end of the year as the two sides hash out the details of the $7.45 billion deal. “Work is progressing well on the details,” said Maxim […]

Royal Dutch Shell Plc: Shell and Alliance to establish retail joint venture

30 March 2007 Shell International Petroleum Company Ltd (Shell) and OJSC Alliance Group (Alliance) announce a commitment to establishing a joint venture to operate a network of more than 150 Shell-branded retail sites in the Ukraine.  This deal will provide Ukrainian customers with access to high quality fuels at competitive prices and with an emphasis […]

Kommersant: Russian Authorities Pull Out of Dispute with Sakhalin Energy

Russia is not going to sue Sakhalin Energy for environmental violations in the Sakhalin-2 project, a natural resources official said Thursday. Deputy Head of the Federal Resource Management Agency Oleg Mitvol earlier announced that the agency was planning to go to Russian, European and “all possible courts” to appeal the violations. Mr. Mitvol, however, mentioned […]

Lloyds List: Shell scraps its plans for Gulf Landing

Published: Mar 30, 2007 Oil major Shell has scrapped plans to build a liquefied natural gas terminal in the Gulf of Mexico, writes Tony Gray . Shell said the Gulf Landing project was not needed because import capacity would be enough without it. ‘It is just an assessment of the market,’ said project manager Greg […]

Irish Independent: Corrib gas firms to resume peat transfer next week

Published: Mar 30, 2007 THE companies involved in the extraction of natural gas from the Corrib Gasfield said yesterday that they plan to resume the peat haulage operation next week. This will involve the transfer of 350,000 tonnes of peat from the site of the proposed onshore terminal at Bellanaboy to a Bord na Mona […]

Daily Telegraph: Database: Friday 30 March 2007

A round-up of headlines from across the financial sectors, provided by Bloomberg News ENERGY Royal Dutch Shell scrapped a plan to build a liquefied natural gas import terminal on the US Gulf Coast, citing adequate capacity to meet requirements among other terminals under construction or planned in the region. • Sterling Energy, an oil and […]

The Times: ‘All Britain has to do is to admit they made a mistake’

EXTRACT: Shell would be one of the biggest losers if diplomatic relations between Britain and Iran were to break down further. The company is part of a £5 billion project to export liquefied natural gas from Iran, which is the world’s fourth-big-gest oil exporter. THE ARTICLE March 30, 2007 By Michael Theodoulou and David Robertson […]

Calgary Herald: China oil find deemed biggest in years

BLOOMBERG PetroChina Co. made a discovery in an offshore field in eastern Bohai Bay that that may be the largest in East Asia in 33 years. The field may hold as much as 2.2 billion barrels of oil, China’s official Xinhua news agency reported on its website, citing officials at the Beijingbased company it didn’t […]

Galgary Herald: Shell beefs up its Gulf platform

Royal Dutch Shell PLC installed tougher clamps on its Mars platform, the biggest oil producer in the Gulf of Mexico, to protect the $1-billion US structure from hurricane damage. Shell finished installing a drilling rig aboard Mars Tuesday that buckled under the force of waves and wind during hurricane Katrina in August 2005, spokeswoman Darci […]

Reuters: Shell to form Ukraine retail venture

Thu Mar 29, 2007 3:03 PM BST LONDON, March 29 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile , Research) said on Thursday it planned to establish a joint venture with OJSC Alliance Group to operate a network of more than 150 Shell-branded retail sites in the Ukraine. Rob Routs, Executive Director of Shell’s […]

The Independent: Shareholders urge Browne to stand down from Goldman Sachs

EXTRACT: Tom Borelli, fund manager at Feaf, said Lord Browne had spent too much time burnishing BP’s green credentials, with its “Beyond Petroleum” campaign, and not enough time paying attention to safety.  THE ARTICLE By Stephen Foley in New York Published: 28 March 2007 Lord Browne of Madingley, the outgoing chief executive of BP, came […]

RIA Novosti: No court action for Sakhalin II environmental damage – Mitvol

15:07 | 29/ 03/ 2007  MOSCOW, March 29 (RIA Novosti) – No court action will be initiated against the Sakhalin II operator for environmental damage incurred during the implementation of the major oil and gas project in Russia’s Far East, an environmental regulator said Thursday. The ambitious project, formerly led by Anglo-Dutch oil major Shell, […]

Barbados Advocate: Senator Lowe makes a plea for small farmers

Web Posted – Thu Mar 29 2007 Opposition Senator Dr. Denis Lowe, wants Government to pay more attention to the plight of small farmers. While speaking in the Upper House yesterday morning during debate of the Appropriation Bill, 2007, Senator Lowe made a call for the country’s import food bill to be reduced, and for […]

Los Angeles Times: 5 gasoline retailers face price suit

  March 29, 2007 Bloomberg Exxon Mobil Corp. and four other U.S. gasoline retailers must face a lawsuit accusing them of conspiring to drive up the price of the fuel, a federal judge ruled. Exxon, Marathon Oil Corp., Citgo Petroleum Corp. and U.S. affiliates of Royal Dutch Shell and BP are accused in the complaint […]

AFX News Limited: Shell, ConocoPhillips win more UK North Sea licenses – DTI

03.29.07, 8:53 AM ET   LONDON – Royal Dutch Shell PLC and ConocoPhillips have secured the licenses to develop the Caravel, Shamrock and Kelvin fields in the North Sea, said Alistair Darling, the UK’s trade and industry secretary. Shell, along with partner ExxonMobil Corp (nyse: XOM – news – people ), will be developing Caravel, […]

The Business Online: Spineless Britain faces its greatest humiliation since the Suez crisis

AN ancient Persian proverb, much beloved of the ayatollahs in Tehran, urges Iranians to “be lions at home and foxes abroad”. This is exactly the strategy being pursued by Ayatollah Ali Khamenei, Iran’s supreme leader, and his hardline Revolutionary Guards, with the result that Great Britain is suffering its greatest foreign policy humiliation since the […]

The Mirror: TD anger at ‘phone tapping’: Corrib gas project ‘alleged undercover operation’

TOM GILLESPIE Published: Mar 29, 2007 A TD is at the centre of an alleged phone tapping scandal involving rivals of the Corrib gas project, it emerged yesterday. Dr Jerry Cowley wants a probe into claims his phone line in north Mayo has been under Garda surveillance for several months, along with senior figures within […]

Irish Times: TD to ask judge to investigate alleged bugging

Lorna Siggins & Tom Shiel Published: Mar 29, 2007 Independent Mayo TD Dr Jerry Cowley says he intends to ask the Circuit Court judge who acts as the State’s complaints referee in relation to phone tapping, to investigate alleged surveillance of telephones held by himself and six prominent members of the Shell to Sea campaign. […]

New York Times: Shell Drops Gulf LNG Port

By REUTERS Published: March 28, 2007 Filed at 8:59 p.m. ET HOUSTON (Reuters) – Shell U.S. Gas and Power (RDSa.L) is discontinuing plans to build a liquefied natural gasterminal offshore of Louisiana because import capacity will be sufficient without it, the company said Wednesday. “It’s just an assessment of the market,” said project manager Greg […]

The Guardian: Van der Veer – a safe pair of hands? (Bill Campbell will be interested in this article)

Julia Finch Thursday March 29, 2007 Jeroen van der Veer deserves the chance to continue much of the good work he has put in at Shell since taking over from Sir Philip Watts in 2004. Memories of the reserves scandal will stay with many investors for a long time but the oil major has seen […]

The Guardian: Shell chief to stay an extra year beyond company retirement age

Terry Macalister Thursday March 29, 2007 Jeroen van der Veer has won a victory over his more lauded rival Lord Browne by being allowed to stay on as chief executive of Shell a year after the company’s retirement date. The Dutchman will retire on June 30, 2009, aged 61, whereas the BP boss will have […]

The Times: Shell chief sets date to leave and starts the race to replace him

March 29, 2007 Steve Hawkes Shell, the £125 billion oil giant, may break with a century-old tradition and recruit a new chief executive from outside either the Netherlands or Britain, industry experts said. The prediction came yesterday after it fired the starting gun for a succession battle by announcing that Jeroen van der Veer, the […]

UPI: Shell defends operations against Nigeria

By CARMEN J. GENTILE UPI Energy Correspondent LAGOS, Nigeria, (UPI) — Royal Dutch Shell in Nigeria defended its operations Wednesday amid a bevy of government allegations that the company illegally transported and dumped radioactive material in the Niger Delta. In a statement sent to United Press International Wednesday, Shell officials denied the allegations of any […]

Malaysia Star: Shell: Smart Fields the way to go

Thursday March 29, 2007 PETALING JAYA: The increasing demand for energy and the challenge to produce better oil makes it essential to use Smart Fields oil recovery technology, said Shell Smart Fields programme manager Jaap van Ballegooijen. Van Ballegooijen projected the world’s consumption at 120 million barrels per day by 2025, but added that remote […]

Reuters: Shell says Italy should ease energy permits regime

RAVENNA, Italy, (Reuters) – Italy should ease its permit regime for energy projects and boost domestic oil and gas exploration to diversify energy supplies, a senior executive at Royal Dutch Shell (RDSa.L: Quote, Profile , Research) said on Wednesday. Italy depends heavily on energy imports to meet growing internal demand and needs to import gas […]

Daily Telegraph: Shell not ready to retire van der Veer: Could it be that he fancies one last deal? That much-speculated merger with BP perhaps?

By Russell Hotten Last Updated: 12:17am BST 29/03/2007 Royal Dutch Shell, Europe’s biggest oil company, has announced that Jeroen van der Veer will remain as chief executive beyond the normal retirement date, a move welcomed by investors but which still sparked speculation about the company’s succession plans. Mr van der Veer, 60 in October, had […]

The Independent: Shell chief executive to stay at helm for extra year

By Michael Harrison, Business Editor Published: 29 March 2007 The chief executive of Royal Dutch Shell, Jeroen van der Veer, has succeeded where his opposite number at BP, Lord Browne, failed by getting a one-year extension to his contract. Shell announced yesterday that Mr Van der Veer would now stay on at the helm until […]

The Wall Street Journal: Risk-Taking Shell CEO Stays in Race

Risk-Taking Shell CEO Stays in Race With Unusual Strategies, Big Investments in Staff, Van der Veer Battles Rivals By CHIP CUMMINS and GUY CHAZAN March 29, 2007; Page B1 LONDON — When Jeroen van der Veer, a low-key chemicals executive and marathon ice skater, took the top job at Royal Dutch Shell PLC in 2004, […]

Financial Times: Van der Veer extends Shell tenure

By Ed Crooks in London Published: March 28 2007 14:10 | Last updated: March 28 2007 22:04 Jeroen van der Veer, chief executive of Royal Dutch Shell, will stay in office a year longer than had been planned and step down in June 2009, the company said. Mr Van der Veer, who took over in […]

Financial Times: Reforming Shell’s culture

Published: March 29 2007 Lord Browne must be envious. When he announced that he would leave the helm of BP earlier than expected, the oil major’s market capitalisation jumped by almost £2bn. On Wednesday, when his counterpart at Royal Dutch Shell, Jeroen Van der Veer, said he would, in contrast, stay on a bit longer, […]

Times Online Comment: Beachcombing

March 28, 2007 Steve Hawkes Jeroen van der Veer took over a poisoned chalice in 2004 when he stepped into the breach at Royal Dutch Shell. Since then he has done all that could have been expected of him. He has restored the group’s reputation and positioned it for growth. His problem is the legacy […]

Houston Chronicle: Regulators Clear Sale of Shell Assets

March 28, 2007 © 2007 The Associated Press WASHINGTON — Federal antitrust regulators have cleared the sale of a Los Angeles-area oil refinery and 250 retail sites in Southern California by a division of Royal Dutch Shell PLC to independent oil company Tesoro Corp. According to a notice issued by the Federal Trade Commission, the […] From Russia with Oil

By Robert A. Mosbacher Sr., Chairman Mosbacher Energy Company and Kiril Stefan Alexandrov, Executive Director U.S.-Russian Investment Symposium This Symposium is helping American leaders in government, business and education learn more about the Russian business environment and encouraging partnerships between American and Russian businesses. Your efforts not only are strengthening our countries’ relationship but also […]

London Evening Standard: Next Shell chief could be female

(STEPPING ASIDE: 59-year-old van der Veer will retire in June 2009) Robert Lea, 28 March 2007 Britain’s biggest company could get a female chief executive after the boss of Shell today announced plans to quit.  The £125bn oil supermajor today sounded the starting gun for a succession battle to see who will take over from […]

Financial Post: Consortium’s drilling plans hit by delays

F rom page P1 Financial Post [email protected] Exxon Mobil Corp., one of the well’s partners, said it is redeploying the rig, the Eirik Raude, to the Gulf of Mexico to drill one of its own prospects. The consortium, which also includes Imperial Oil Ltd. and Shell Canada Ltd., had planned to drill two more wells […]

Calgary Herald: Shell charged with losing toxic tools

28 March 2007 Anglo-Dutch oil giant Shell in Nigeria on Tuesday confirmed the federal government had charged it with the alleged loss of some “radioactive tools” belonging to one of its contractors. And it denied reports that it had been involved in any dumping of toxic waste in Nigeria. The company said in a statement […]

Edmonton Journal: Shell probes public on new refinery

Environmental concerns raised over Sarnia location The Canadian Press TORONTO Weeks after Ontario was engulfed in a gasoline shortage of epic proportions, Shell Canada is asking the public whether it would support construction of a new Sarnia-area oil refinery. The company is to hold an open house Wednesday afternoon at a hotel in Wallaceburg, Ont., […]

San Antonio Express-News: FTC clears Tesoro to buy refinery, outlets from Royal Dutch Shell

Business Briefs Web Posted: 03/28/2007 12:56 AM CDT San Antonio-based refiner Tesoro Corp. on Tuesday got the go-ahead from the Federal Trade Commission to proceed with its $1.63 billion purchase of a refinery near Los Angeles, along with 250 retail stations from Royal Dutch Shell. Tesoro still must get approval from the California attorney general, […]

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