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April 12th, 2007:

Daily Telegraph: Lord Browne gets pay package approved: quits BP to join Apax

Daily Telegraph Lord Browne Photo

(Lord Browne’s recent problems include the Thunder Horse oil rig delay after a hurricane and Prudhoe Bay where pipes were found corroded causing large oil spills in Alaska)

By Richard Blackden
Last Updated: 12:40am BST 13/04/2007

Lord Browne, chief executive of oil giant BP, has seen off a potential rebellion over his pay package by shareholders who claimed it wasn’t deserved given the company’s safety record.

BP said today that of the shareholders who have voted so far, 82.7pc have approved the resolution proposed at today’s annual general meeting – Lord Browne’s last as chief executive. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Daily Telegraph: Risk of oil crunch as OPEC squeezes tightening market

By Ambrose Evans-Pritchard
Friday 13/04/2007

The world faces the growing risk of an oil crunch this summer as OPEC supply falls to the lowest level in two years and stocks held by wealthy nations tumbled at the fastest rate in a decade.

The International Energy Agency said the oil-exporting cartel had taken 1.2m barrels a day off the markets since last September in a move to support prices through the unusually mild winter, but had now pushed the pendulum too far the other way.

Inventories held by the OECD club of rich states have fallen by 1.1m barrels a day over the first quarter, with continued falls in March, a time of year when countries normally replenish reserves. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Economist: A bear at the throat

The Economist - Russian Bear

Apr 12th 2007 | BRUSSELS AND MOSCOW
European energy security

The European Union is belatedly grasping the riskiness of its dependence on Russian gas, but it is disunited and short of ideas for how to reduce it

By Kevin Kallaugher

RUSSIA’S president, Vladimir Putin, must be feeling smug. His strategy of using the country’s vast natural resources to restore the greatness lost after the break-up of the Soviet Union seems to be paying off. If power is measured by the fear instilled in others—as many Russians believe—he is certainly winning. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Pensions&Investments: Royal Dutch Shell, European investors settle

Royal Dutch Shell PLC and a group of 50 European investors, including the $230 billion Stichting Pensioenfonds ABP, agreed to a settlement of almost $455 million over claims that Shell overstated its proven oil and gas reserves from 1997-2003, according to Jay W. Eisenhofer, managing partner of the law firm of Grant & Eisenhofer, which represents the group, and a company filing with the SEC.

Royal Dutch Shell did not admit any wrongdoing as part of the settlement, according to the SEC filing. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

RIA Novosti: Sakhalin I, II operators post $857mln, $794mln earnings

MOSCOW, April 12 (RIA Novosti) – Large oil and gas projects on Sakhalin I and Sakhalin II off Russia’s Pacific coast last year brought in $857 million and $794.6 million, respectively, the Industry and Energy Ministry said Thursday.

Oil output at Sakhalin I, operated by Exxon Neftegas Limited, a subsidiary of U.S. oil major Exxon, under a product-sharing agreement with the Russian government, totaled 2.6 million metric tons (18.8 million bbl) in 2006. The operator began exporting locally produced crude to Japan, Korea and India last October, and has sold some 2.452 million tons (18.02 million bbl) to those countries since. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

RIA Novosti: Russia annuls Sakhalin II contract with PwC

MOSCOW, April 12 (RIA Novosti) – Russia has annulled a contract with PricewaterhouseCoopers, auditor of the Sakhalin II hydrocarbon project in the Far East for 10 years, and selected a new auditor, the Industry and Energy Ministry said Thursday.

The ministry said the company’s assessment of spending under the production-sharing agreement was unsatisfactory and Russian authorities had selected a Russian auditor, FinExpertiza, at a tender. FinExpertiza has completed the audit, the ministry said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

ComputerWorld Malaysia: Malaysia key to Shell’s VoIP rollout

By Phil Hochmuth

Malaysia will be home to a new Royal Dutch Shell IP (internet protocol) telephony facility under the oil giant’s plans to consolidate all call control, collaboration and messaging functions into three data centres worldwide.

Including Shell’s two centres in the US and the Netherlands, the three facilities will eventually handle all VoIP (voice over internet protocol) call control for more than 40,000 IP hard phones from Nortel and soft phones (personal computer-based VoIP software) based on Microsoft Office Communicator. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

RIA Novosti: Total rectifies oil deposit breaches – Russian official

MOSCOW, April 12 (RIA Novosti) -Total has rectified numerous violations at the Kharyaga oil deposit in northern Russia that the French energy giant is developing, the Russian Audit Chamber chairman said Thursday.

In January, the Audit Chamber found the project operator had committed a number of violations, including underproduction of crude and a failure to meet the schedule and requirement for development works.

“I should say Total has corrected the numerous violations that we registered,” Sergei Stepashin said. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Time Magazine: Russia’s Natural Gas Mogul Speaks

Wednesday, Apr. 11, 2007

Russia’s Gazprom is a giant by every measure. The state-run corporation is the world’s second large energy company, controlling 26.6% of global natural gas reserves, producing one fifth of the world’s natural gas and supplying a quarter of what Europe consumes. Gazprom also controls 10.2 billion barrels of crude oil reserves. Critics see Gazprom as a monopolist monster but Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee and General Director of Gazpromexport, sat down with Time’s Yuri Zarakhovich to espouse Gazprom’s view of itself as a benevolent giant. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

London Evening Standard: Shell ready to return to Iraq after 35 years

Nick Goodway, Evening Standard
12 April 2007

Shell is set to become the first oil major to return to war-torn Iraq since the nationalisation of the country’s oil industry 35 years ago. 

The Anglo-Dutch group is close to announcing a partnership with the Turkish state oil business TPAO to build a gas export pipeline and reopen gas extraction in the northern republic of Kurdistan.

The pipeline is believed to run alongside an existing one which connects the Mediterranean port of Ceyhan with the giant Iraqi oilfield in Kirkuk. A Shell spokesman said the company has yet to sign any contracts but admitted it had been in talks about re-entering Iraq. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Wall Street Journal: Shell Settles Investor Lawsuit

Posted by WSJ.com Staff

This is more a legal story than an energy story, but it involves one of the world’s biggest energy companies, so it’s worth noting: Royal Dutch Shell said Wednesday it would pay $352.6 million to settle claims brought in the U.S. by European shareholders, who accused Shell of defrauding them by overstating its reserves.

The Netherlands-based oil giant also agreed to pay $47 million in attorneys’ fees to three American law firms that represented the European investors.

The agreement marks the first time that an all-European cast of players has leveraged U.S. courts to settle stock-fraud allegations, marking a further step in a gradual migration of U.S.-style civil-litigation methods to Europe. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

MENAFN Press: Shell opens new car care center in Fujairah

April 12, 2007

Shell, a leading player in the global energy and petrochemicals industry, has announced that it has opened a new Shell Care Outlet in Fujairah .The Grand opening ceremony party was honored by the presence of H.H. Shaikh Saqer Bin Srour Al Sharqi and Mr. Abdullah Bin Haikel Al Bulushi the Emirates Bank Manager in Al Fujairah Bank.

Shell takes on the challenge of providing quality car care service to a rapidly growing automotive industry in the UAE. The move is response to a growing demand for a massive service support infrastructure with the UAE being recognized as having the world’s highest ratio of population to number of vehicles. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Times Online: Shell strikes deal to extract Iraqi gas

April 12, 2007

TPAO, the Turkish state oil company, will work with the Anglo-Dutch group to extract gas from the Kurdistan region

Steve Hawkes

Shell is poised to become the first oil major to step back into Iraq after reports that it has signed a deal to extract natural gas in the northern republic of Kurdistan.

A Turkish news agency claimed that the Anglo-Dutch giant would work in partnership with TPAO, the Turkish state oil company.

The alliance is also expected to cover the construction of a gas export pipeline that would run alongside an existing pipeline connecting the Mediterranean port of Ceyhan and the massive Iraqi oil field in Kirkuk. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: GasTerra 2006 Sales Rise 25 Percent, Boosted by Higher Prices

By Fred Pals

April 12 (Bloomberg) — GasTerra BV, a gas-trading venture between the Dutch state, Royal Dutch Shell Plc and Exxon Mobil Corp., said 2006 sales rose 25 percent, boosted by worldwide increases in energy prices.

Revenue rose to 18.4 billion euros ($24.7 billion) last year from 14.7 billion euros in 2005, GasTerra said in its annual report published today. The amount of gas the company sold fell to 78.8 billion cubic meters from 80.4 billion, the Groningen, Netherlands-based venture said in its annual report. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: Inpex Faces Environmental Opposition to Australian LNG Project

By Angela Macdonald-Smith

April 12 (Bloomberg) — Inpex Holdings Inc., Japan’s largest oil explorer, faces opposition from environmental groups to a potential A$10 billion ($8.3 billion) liquefied natural gas project it plans to build off the northwestern Australian coast.

Environs Kimberley Inc. and Cultural Heritage and Environmental Advocacy for the Kimberley, or CHEAK, are among groups that made submissions to a Western Australian environment agency voicing fears about the potential effects on wildlife and Aboriginal heritage sites. Australian Conservation Foundation said it has “grave concerns” about the project. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Scotsman: Restoration masterclass

MARTIN FLANAGAN
 
SHELL pink is a nice colour. And it is astonishing that oil major Royal Dutch Shell is in the pink again just three years after a scandal ripped out the boardroom, sent the share price plunging, woke up the regulators, provoked unprecedented internal navel-gazing, and led to nearly a century of corporate history being consigned to the bin.

The oil reserves overstatement scandal of 2004, when the company admitted it had overstated this touchstone of an oil group’s health by 20 per cent and then tried to cover it up, devastated the British-Dutch group’s reputation for probity. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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