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Posts from ‘May, 2007’

The Wall Street Journal: BP May Lose Project To Russia Power Grab

Move Would Open Door To Gazprom and Tighten Kremlin Grip on Energy By GREGORY L. WHITE in Moscow and GUY CHAZAN in London June 1, 2007; Page A9 Russian regulators could move as early as today to revoke a production permit from a $20 billion BP PLC natural-gas project in Siberia, in a test case […]

The Guardian: Going green starts to gain momentum

Deborah Hargreaves Friday June 1, 2007 Consumers have more clout than they realise. Certainly, many companies have converted to green causes under sustained customer pressure. And while much of what the corporate sector says about climate change can be dismissed as hot air, there are the beginnings of some very real initiatives. Most leading companies […]

The Guardian: Iraq’s oil boom isn’t delayed, it’s relocated to Canada

As Baghdad burns, destabilising the entire region and sending the price of oil soaring, Calgary booms Naomi Klein Friday June 1, 2007 The invasion of Iraq has set off what could be the largest oil boom in history. All the signs are there: multinationals free to gobble up national firms at will, ship unlimited profits […]

Daily Telegraph: Ruling on BP licence in Siberia due today

By Russell Hotten Last Updated: 12:12am BST 01/06/2007 BP chief executive Tony Hayward has held talks with his counterpart at Russian energy monopoly Gazprom ahead of a meeting today that could decide the fate of the UK company’s involvement in the huge Kovykta gas field in Siberia. The agency that awards licences for exploration and […]

Toronto Star: Shell Canada CEO committed to pipeline

Jeffrey Jones reuters news agency CALGARY, Alberta–Royal Dutch Shell Plc’s Canadian unit is still committed to the idea of a $16.2 billion Arctic gas pipeline, but must be assured of better returns before going ahead, its outgoing chief executive said Thursday. Clive Mather, who retires next week as Shell absorbs its formerly publicly traded Canadian […] Nigeria: Ogoni Youths Shut-in 150,000bpd Shell Output

Vanguard (Lagos) 1 June 2007 Hector Igbikiowubo IN yet another twist to the unfolding scenario in the Niger Delta, Kedere youths in Ogoniland have shut the valve on the Bomu manifold located on the Trans-Niger pipeline, effectively shutting-in 150,000 barrels per day of crude oil output from the Shell Petroleum Development Company operated joint venture. […]

The Moscow Times: BP Chief Flies In as Kovykta Deal Nears

EXTRACT: TNK-BP’s woes appear to mirror those faced by Shell at Sakhalin-2 last year. Shell and its Japanese partners sold a majority stake to Gazprom after months of pressure by Mitvol’s agency over purported environmental violations. Shell CEO Jeroen van der Veer met with Miller 10 days before agreeing to sell to Gazprom at a Dec. […]

The Economist: Trading thin air

May 31st 2007 From The Economist print edition The carbon market is working, but not bringing forth as much innovation as had been hoped EVERY year the average sow and her piglets produce 9.2 tonnes of carbon-dioxide equivalent through the methane emissions from their effluent. In the past, that has been a problem both for […]

The Economist: Dirty king coal

May 31st 2007 From The Economist print edition Scrubbing carbon from coal-fired power stations is possible but pricey THERE are two remarkable things about Sleipner T, a gas rig in the middle of the North Sea owned by Norway’s state-owned oil company, Statoil. One is the working conditions. Technicians get around NKr600,000 ($100,000) a year, […]

The Economist: The drive for low emissions

May 31st 2007 From The Economist print edition Car and fuel companies are investing in clean transport KEN LIVINGSTONE, the mayor of London, last year caused a mild panic among drivers who cruise the city’s narrow streets in “Chelsea tractors” (SUVs to the rest of the world). He announced that he was planning to charge […]

The Economist: Some you win, some you lose

EXTRACT: Last year, under duress, Royal Dutch Shell and its partners agreed to sell a majority stake in a big oil and gas project called Sakhalin II to Gazprom, the state-owned gas firm. May 31st 2007 From The Economist print edition The oil giant hopes to find gas in Libya, but may lose it in […]

Reuters: Pipeline leak shuts another 77,000 bpd in Nigeria

Thu May 31, 2007 5:32 PM BST LAGOS, May 31 (Reuters) – A leak on a major oil export pipeline in Nigeria has forced Royal Dutch Shell (RDSa.L: Quote, Profile , Research) to shut another 77,000 barrels per day, a spokesman said on Thursday. The pipeline leak occurred on May 25 on the Nembe pipeline […]

UpstreamOnline: Bomu protest enters third day

By Upstream staff A protest by villagers at the Bomu oil export pipeline complex in Nigeria entered a third day today and no crude was flowing through the facility, a protest leader said. Villagers from K-Dere occupied the pipeline hub at Bomu, which feeds the Bonny shipping terminal, on Tuesday and forced Shell to shut […]

The Business Online: Putin’s assault on BP shows why the UK must embrace nuclear energy

PERHAPS the greatest paradox in political economy is how countries endowed with the most bountiful natural resources almost invariably end up with deeply unsavoury regimes and the worst economic policies. In many cases, especially in Africa and the Middle East, this “resources curse” means that commodity-rich countries are also among the poorest, with many of […]

UpstreamOnline: ‘Russia doesn’t pick on foreign players’

31 May 2007 14:21 GMT  | last updated: 31 May 2007 14:36 GMT By Upstream staff Russian Energy Minister Viktor Khristenko went on the defensive today, saying that Russia does not discriminate against foreign explorers, in a bid to quell concern over a series of high level disputes with foreign companies. “Our approach to foreign […]

MENAFN (Jordan): Shell to strengthen presence in Middle Eastern aviation industry

May 31, 2007 Shell, one of the world’s premier energy and petrochemicals companies, has recently announced that it plans to strengthen its presence in the Middle Eastern aviation industry following a successful participation at the seventh annual Airport Show, which concluded yesterday (Wednesday, May 30, 2007) in Dubai. The move will see the company, which […]

Reuters: Nigerian oil output still hit by protest – Shell

Thu May 31, 2007 11:54 AM BST LAGOS, May 31 (Reuters) – Shell’s production of Bonny Light crude oil is still curtailed by 150,000 barrels per day due to a protest at a major pipeline hub which entered its third day on Thursday, a company spokesman said. The company had previously said that production was […]

RIA Novosti: Gazprom aims to become key oil and gas player on Sakhalin Island

15:55 | 31/ 05/ 2007  YUZHNO-SAKHALINSK (Far East), May 31 (RIA Novosti) – Russian energy giant Gazprom [RTS: GAZP] said it aims to become a major oil and gas producer and distributor on Sakhalin Island in Russia’s Far East.  Alexander Medvedev, deputy chairman of the Gazprom management committee, said Thursday the company was interested in […]

Insight by former Royal Dutch Shell executive on BP-Shell Mega-merger artictle published by Energy Intelligence Group, Inc.

  Shell and BP – merger and demerger?  By Paddy Briggs       The authoritative oil industry publication “Petroleum Intelligence Weekly” (PIW) has an article about a possible Shell/BP merger in its recent (28th May) edition. It points to the recent difficulties of both corporations and to the fact that a combined Shell/BP would have […]

Energy Intelligence Group, Inc.: BP-Shell Rumors Revive Concept Of Megamergers

  (Copyright © 2007 Energy Intelligence Group, Inc.) Monday, May 28, 2007 Rumors of a possible tie-up between BP and Royal Dutch Shell have some analysts talking about a new era of megamergers, but is such a scenario plausible? Roughly five years after the original round of megadeals, the supermajors find themselves struggling to grow […]

Grand Junction Sentinel (Colorado): Shell, DOW finish 5,100-acre land swap

By BOBBY MAGILL The Daily Sentinel Thursday, May 31, 2007 An exchange of more than 5,000 acres of land in northwest Colorado between the Colorado Division of Wildlife and Royal Dutch Shell is being hailed by the state as a victory for both hunters and wildlife. Under the proposal, the DOW will deed 3,108 acres […]

Bloomberg: Shell’s Alaska Drilling Plan Prompts Protests at Whaling Meet

By Tony Hopfinger (Bloomberg) — Drilling plans by Royal Dutch Shell Plc and other oil companies in Alaska are drawing complaints from activists, fishermen and Eskimos at the International Whaling Commission meeting in Anchorage, Alaska. Shell and the government haven’t prepared for spills in the Arctic, while exploration will disturb whale habitats, Betsy Goll, a […]

Bloomberg: Cost Gains Threaten Australian LNG Growth, Group Says (Update1)

By Angela Macdonald-Smith May 31 (Bloomberg) — Construction cost increases are threatening Australia’s targeted expansion in liquefied natural gas supply, said Belinda Robinson, chief executive officer of the Australian Petroleum Production and Exploration Association. The country’s aim to quadruple LNG output by 2017 is “becoming more obviously challenging” than 18 months ago when the goal […]

Lloyds List: Slower demand depresses VLCC rates

Published: May 31, 2007 Tankers LACK of demand is pulling down all tanker markets, especially very large crude carrier rates, with little relief for owners in the short term, writes Martyn Wingrove. Charter rates are falling for double hulled VLCCs as refinering companies drip-feed the market with inquiries and hold back on chartering tankers. Good […]

AP Worldstream: 4 American hostages released in southern Nigeria

WILLIAM NSOYOH Published: May 31, 2007 Four American oil worker hostages seized weeks ago in Nigeria’s restive southern oil heartland were publicly handed over to authorities, as protesters cut exports from Africa’s top petroleum producer. As journalists looked on Wednesday, a judge who mediated in the dispute escorted the four Chevron Corp subcontractors taken May […]

DubaiPhotoMedia: Shell sponsors children’s book launch

Shell sponsors children’s book launch to help famous writer rally support to address environmental issues Published: May 31, 2007 DUBAI, May 30 (DubaiPhotoMedia): Shell, a leading player in the global energy and petrochemicals industry, has announced its sponsorship for the launch of a culturally and environmentally oriented children’s book as part of Shell’s commitment to […]

Irish Independent: Irish Shell turnover hit 780m before Topaz buyout

Published: May 31, 2007 TURNOVER at Irish Shell hit the 780m mark in the 11-month period before the company was bought out by private equity group Topaz. Accounts just filed show that Shell’s forecourts racked up sales of 664m to the period ending November 29, 2005, while turnover for the firm’s bitumen and aviation business […]

Irish Independent: Judge assesses the scene of ‘heated’ Corrib Gas protests

Published: May 31, 2007 A JUDGE yesterday visited the scene of the heated protests near the Corrib Gas terminal in Co Mayo. Judge Mary Devins travelled to Bellanaboy to assess for herself the terrain along the roadway where, it is alleged, three local men assaulted and obstructed gardai last October. Before Belmullet District Court are […]

Financial Times: Russian power reform

EXTRACT: …as the Kremlin’s treatment of Yukos, Royal Dutch Shell and BP demonstrate, investors’ money to rebuild Russia is often welcomed, only for the rules to change later on. Published: May 31 2007 03:00 | Last updated: May 31 2007 03:00 Russia’s recent economic and geopolitical resurgence belies some serious weaknesses at home. One is […]

Financial Times: Uncertainty still dogging price of crude

EXTRACT: Iran dismissed calls to suspend uranium enrichment on the eve of a vital meeting with the European Union, while protesters forced further disruption to oil production in Nigeria. Shell said 150,000 barrels a day of oil production had been halted after protesters stormed the Bomu pipeline complex, a major artery feeding the Bonny crude export […]

The New York Times: Exxon Mobil Repeats Stance on Emissions

By THE ASSOCIATED PRESS Published: May 31, 2007 Filed at 12:28 a.m. ET DALLAS (AP) — Exxon Mobil Corp. on Wednesday reiterated its position that creating far-reaching policies to reduce harmful greenhouse gas emissions is important but premature, even as some shareholders lambasted the oil giant for what they said was an irresponsible and even […]

The New York Times: Exxon Investors Put Exec Pay Issue Above Climate

EXTRACT: “If that makes us not Shell — well, based on my results, I’m kind of glad we’re not Shell,” he said, referring to competitor Royal Dutch Shell. By REUTERS DALLAS (Reuters) – Exxon Mobil Corp. spent much of its annual meeting on Wednesday defending its environmental policy, but shareholders of the world’s largest company […]

THE NEW YORKER: Kremlin, Inc.: Why are Vladimir Putin’s opponents dying?

(Putin and his late critics the ex-K.G.B. agent Alexander Litvinenko and the journalists Paul Klebnikov and Anna Politkovskaya.) EXTRACT: The Kremlin recently provided a particularly audacious example of how it sees its role as an “energy superpower”: Royal Dutch Shell, which had invested billions of dollars to develop the world’s largest oil-and-gas field, Sakhalin II, […]

Daily Telegraph: ENERGY Database: Thursday 31 May 2007

Last Updated: 1:25am BST 31/05/2007 A round-up of headlines from across the financial sectors, provided by Bloomberg News • BP’s John Manzoni stepped down as head of refining and will become president and chief executive officer of Canada’s Talisman Energy. • Royal Dutch Shell and BG Group signed “natural-gas co-operation accords” with Libya, the North […]

The Guardian: Shell Nigeria Exports Halted by Protests

Wednesday May 30, 2007 9:46 PM LAGOS, Nigeria (AP) – Protesters besieged a major pipeline center feeding a Royal Dutch Shell PLC oil export terminal in Nigeria, forcing the company to suspend exports of 150,000 barrels a day, a company official said Wednesday. The protesters tampered with some pipeline equipment and forced the shutdown of […]

Associated Press: 4 American Hostages Released in Nigeria

Wednesday, May 30, 2007 By WILLIAM NSOYOH Associated Press Writer Four American oil workers abducted three weeks ago in Nigeria’s restive oil region were released Wednesday. As journalists looked on, a judge who mediated in the matter escorted the four men to the governor’s office in southern Rivers State and turned them over to authorities. […]

CBC News: Exxon Mobil says it’s too soon for broad policies on emissions

Published: Wednesday, May 30, 2007 | 4:37 PM ET Canadian Press: JOHN PORRETTO DALLAS (AP) – Exxon Mobil Corp. on Wednesday reiterated its position that creating far-reaching policies to reduce harmful greenhouse gas emissions is important but premature, even as some shareholders lambasted the oil giant for what they said was an irresponsible and even […]

BYM Marine Environment News: Alaska. Shell Oil and Gas development disaster to whaling, whales and polar bears

Wednesday, 30 May 2007 U.S. and Russian whalers and other Alaska Native leaders have spoken with the public regarding continued threats to their whaling traditions. The briefing addressed Native concerns in light of the Department of Interior’s (DOI) plan to open the oceans off Alaska to a barrage of new oil and gas development starting […]

International Herald Tribune: Shell halts export of 150,000 barrels daily of Nigeria crude after protests

The Associated Press Wednesday, May 30, 2007 LAGOS, Nigeria: Protesters besieged a major pipeline control center feeding a Royal Dutch Shell PLC oil export terminal in Nigeria, forcing the company to suspend exports of 150,000 barrels of crude oil a day, a company official said Wednesday. Protesters from K-Dere in the Ogoni district of Nigeria’s […]

Houston Chronicle: Exxon Mobil could get an earful

Shareholder proposals up for vote today address emissions, renewables May 30, 2007, 1:47AM By KRISTEN HAYS Copyright 2007 Houston Chronicle Pension fund angry over climate strategy Exxon Mobil Corp.’s reticence to invest in renewable and alternative energies beyond research in the short term could dominate its annual shareholder meeting today. Shareholder proposals up for votes […]

Calgary Herald (Canada): IMAGE: one positive contribution… Shell Canada’s efforts to reduce emissions from its oilsands operations

From page A1 Wednesday 30 May 2007 “Government isn’t doing industry any favours by appearing to be so much in favour of development,” Severson-Baker said. “Government is partly to blame for industry’s poor image because they aren’t leading on those issues either.” Rather than offer creative solutions to tough issues, Severson-Baker complained that industry captains […]

Reuters: Nigeria pipeline attack cuts Shell oil output

Wed May 30, 2007 11:39 AM BST PORT HARCOURT, Nigeria (Reuters) – Villagers sabotaged a major export pipeline in Nigeria for the second time this month and halted 150,000 barrels per day (bpd) of oil production, Royal Dutch Shell said on Wednesday. Community members stormed the Bomu pipeline complex, which is a major artery feeding […]

Houston Chronicle: Pension fund angry over climate strategy: Major investors want director ousted from board

May 30, 2007, 1:48AM By JOE CARROLL Bloomberg News Pension fund angry over climate strategy The California Public Employees’ Retirement System, the largest public pension fund in the U.S., is seeking the removal of Exxon Mobil Corp. director Michael Boskin over the company’s strategy on climate change. Calpers joined two dozen other institutional investors to […]

Gulf-Times (Qatar): Iran sees major LNG deal with foreigners

Published: Wednesday, 30 May, 2007, 08:26 AM Doha Time   TEHRAN/DUBAI: Iran expects to sign a multibillion- dollar agreement with a foreign partner next month to produce liquefied natural gas, or LNG, from the South Pars field, the world’s biggest gas reservoir. “We’ve signed the draft contract with a foreign contractor and the main contract […]

The Arizona Daily Star: Advances may ease extraction of shale oil in Western states

By Joe Carroll Bloomberg news Tucson, Arizona | Published: 05.30.2007 Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined. That’s not science fiction. Trapped in limestone up to 200 feet thick in the two Rocky Mountain states is […]

Bloomberg: ConocoPhillips Sells Extra Darwin LNG Output to Japan (Update2)

By Angela Macdonald-Smith May 30 (Bloomberg) — ConocoPhillips, the second-biggest U.S. refiner, will today ship the first extra cargo from its Northern Australian liquefied natural gas venture in addition to its contracted deliveries. The cargo, which is due to leave Darwin about 6 p.m. in the 135,000 cubic meter `LNG Pioneer’ tanker, will be delivered […]

Bloomberg: Shell’s Alaska Drilling Plan Prompts Protests at Whaling Meet

By Tony Hopfinger May 30 (Bloomberg) — Drilling plans by Royal Dutch Shell Plc and other oil companies in Alaska are drawing complaints from activists, fishermen and Eskimos at the International Whaling Commission meeting in Anchorage, Alaska. Shell and the government haven’t prepared for spills in the Arctic, while exploration will disturb whale habitats, Betsy […]

The Wall Street Journal: BP’s Libya Gas-Exploration Deal Boosts New Chief

By CHIP CUMMINS May 30, 2007; Page A10 LONDON — BP PLC and the Libyan government of Col. Moammar Gadhafi agreed to a $900 million natural-gas exploration deal that provides a boost to the British energy company’s new chief executive as he struggles to lead BP through a series of greater challenges in the U.S. […]

The Wall Street Journal: Russian Market

Wednesday 30 May 2007 From Breaking Views Russia’s stock market looks like a bargain among emerging markets. And it should benefit from stable but high oil prices. That is the argument of Credit Suisse emerging-market strategist Alexander Redman. But if the economics are promising, the politics are frightening. The Russian market sells at 10.6 times […]

Lloyds List: Bunker alarm as Durban runs dry

Refineries shut and three quit spot market, writes Jamie Dale, Lloyds List Published: May 30, 2007 DURBAN’S bunker market has been left dry with refinery shutdowns and all three local suppliers withdrawing from the spot market. Shell, BP and Engen have stopped supplying the spot market as Durban prepares for the next round of refinery […]