Posts on ‘April 25th, 2007’

April 25, 2007, 11:08 am Posted by WSJ.com Staff Here’s a quick roundup of energy news from some other publications: Russia will invest billions of dollars of its oil wealth in international companies for the first time, the Financial Times reports. The paper also profiles Alexei Kudrin, the man who has shepherded Russia’s flooding coffers. [...]

ExxonMobil may revisit familiar ground its Colony site By BOBBY MAGILL Wednesday, April 25, 2007 One week before the 25th anniversary of Black Sunday, ExxonMobil is showing renewed interest in oil shale and may begin conducting research on in situ oil shale extraction on private land at its long-defunct Colony Project site near Parachute. It [...]

BY IAN MCKINNONBloomberg News Imperial Oil Ltd.’ s proposed $18-billion pipeline to tap natural-gas reserves in Canada’s Arctic is “uneconomic,” Tristone Capital Inc. said yesterday. The project may need as much as $2-billion in government financial aid or incentives such as accelerated depreciation to proceed, Calgary analyst Chris Theal says in a report. Failure of [...]

Wednesday, April 25, 2007 Shell has put Corrib project ahead of local people, says Erris priest Fr Michael Nallen administers in Kilcommon parish, one of the largest parishes in Mayo, if not in Ireland. And it is in the middle of that parish – in Bellanaboy to be precise – where Shell E&P Ireland propose [...]

(25/04/2007) The UK’s Trade and Industry Secretary Alistair Darling has called for openness and legal certainty for companies investing in Russia. “We need legal certainty. Legal certainty is a vital ingredient for ensuring a positive investment climate,” he said at the 10th Annual Russian Economic Forum in London. The UK is the largest foreign investor [...]

By Tara Patel April 25 (Bloomberg) — Bourbon SA, owner of the world’s biggest fleet of supply ships for deepwater oil exploration, plans to double the number of its vessels in three years, Chief Executive Officer Jacques de Chateauvieux said. “We will soon be taking delivery of a new vessel every 15 days,” de Chateauvieux [...]

By James Quinn Last Updated: 1:20am BST 25/04/2007BP BP Shares: 568½p -9p Questor says Buy BP has been full of surprises over the past couple of years but, for once, yesterday’s first quarter results passed largely without excitement. The numbers were expected to be downbeat, and they certainly lived up to expectations. The question is, [...]

By BENOÎT FAUCON April 25, 2007; Page A7 LONDON — BP PLC, kicking off the oil majors’ earnings season, offered more proof that the industry’s run of record profits may be over. The oil giant said first-quarter net profit fell 17% to $4.66 billion, as lower oil prices and a drop in output offset higher [...]

Greenhouse-Gas Policy In Canada Could Make Tapping the Tar Harder By ANA CAMPOY April 25, 2007; Page A8 After several years of breakneck growth in Canada’s oil sands, energy producers now seem to be on an obstacle course. In the next several days, the Canadian government is expected to spell out its new policy on [...]

ALASKA’s latest Beaufort Sea exploration licensing round attracted attention from oil majors, but only a fraction of the blocks available were taken up, writes Martyn Wingrove. Oil majors Shell and Total were by far the most active players in lease sale 202, which attracted $42.3m in high bids for the federal government’s Minerals Management Service. [...]

Published: Apr 25, 2007 DUBAI, April 18 (DubaiPhotoMedia): Basil Shaabans bid to become the Arab worlds first Formula One racing driver has been given a major boost with the signing today of a sponsorship agreement with Shell. This is the first sponsorship of a comprehensive strategy for developing an Arab towards the pinnacle of motor [...]

Fos terminal, to complement European interest, could come into service by 2015, writes Andrew Spurrier, Lloyds List Published: Apr 25, 2007 The Shell oil group has announced plans to open a new liquid natural gas terminal at the port of Marseilles’ Fos deep water complex. The group has indicated that the new terminal, which will [...]

24th April 2007 By Anne Marie Davis Shell has entered into a joint venture with Alliance that will see 150 fuel stations rebranded. Shell has signed a joint venture agreement with Alliance Group in Ukraine that continues the company’s recent strategy of investing in high-growth retail markets through partnerships. This policy allows Shell to capitalize [...]

Published: Wednesday, 25 April, 2007, 08:43 AM Doha Time   LONDON: With Russia’s economy and financial markets booming, deal makers attending the biggest business conference on the calendar this week have every reason to be as bullish as ever. But, in contrast to recent years, concern pervaded the Russian Economic Forum in London over how [...]