Posts on ‘May 20th, 2007’

Martin Ayankola, Lagos – 21.05.2007 Shell Development Petroleum Company (SDPC) paid a total sum of over $3.5 billion in taxes and royalties to the Federal Government in 2006. According to the 2006 Shell People and Environment Report recently released by the company, Shell paid $2.21 billion Petroleum Profit tax (PPT), $771 million in royalties, $26 [...]

By James Brooke May 20 (Bloomberg) — BP Plc’s Russian unit will be audited by the most-senior environmental regulator this week and stands to lose its license to operate Eastern Siberia’s largest known natural-gas field if it fails. TNK-BP, a venture between BP and private Russian investors, will be audited May 23 on its production [...]

By GLEN OWEN   Last updated at 11:16am on 20th May 2007 When Lord Browne resigned as BP chief executive earlier this month after lying to the courts during a failed attempt to gag The Mail on Sunday, his supporters paid tribute to the buccaneering way he built the company into a global oil giant. [...]

(RICK BOWMER/ AP FILE PHOTO With energy prices so high, what incentive do cash-rich oil-producing nations and multinationals have to increase supplies?)  May 20, 2007 04:30 AM David Olive As gasoline prices soar to upwards of $1.10 per litre in the GTA, motorists stare at the rapidly revolving figures on the pump and curse multinational [...]

By Alfred Donovan The following comments have been received. The author has consented to publication and supplied their name, but not for publication. His comments on the article: ShellNews.net: Are these astonishing allegations about the Sakhalin-2 project true or false? “The division and separation of the work between Globalstroi and Saipem SA is now providing [...]

EXTRACTS: The row is strikingly similar to that experienced by Shell over the $20bn Sakhalin 2 gas project, which at the time was Russia’s largest direct foreign investment. After months of warnings from Mr Mitvol over environmental breaches committed by Shell, and threats to revoke its licence, the Anglo-Dutch oil major and its Western partners [...]

Analyst tells energy executives environment is right for success By KRISTEN HAYS Copyright 2007 Houston Chronicle Alternative energy isn’t the next big thing. That’s because it’s already here, an analyst told energy executives in Houston on Friday. The key for the ever-growing alternatives sector is to deliver, particularly when the current political environment is encouraging [...]

EXTRACT: Meanwhile, in the United States, ERISA resulted in a successful class-action settlement in the U.S. involving Royal Dutch Shell and its reduced reserves controversy. The oil giant paid out US$90-million. So did Global Crossing (US$79-million) and AT&T (US$29-million) for transgressions. THE ARTICLE Canadian companies are getting picked off piecemeal due to one principal problem: [...]

Headline: WEEKLY ROUND-UP: Strong Europe buoys sentiment in Dublin EXTRACTS FROM ARTICLE London Investor excitement surrounding the possibility of a ‘mega merger’ between oil giants BP and Royal Dutch Shell helped propel the London market to its highest level for nearly seven years. Rumour of a tie-up between the oil majors, combined with higher metal [...]

Andrew Dewson EXTRACT FROM ARTICLE Among the wilder stories doing the rounds in the market is rehashed talk of a deal between the oil giants BP and Shell. The speculation varies from a full-blown merger to a tie-up between some of the groups’ upstream assets. Citigroup poured cold water on the notion of a merger, [...]

EXTRACT: Mr. Murray reserves special criticism for those companies that have joined the high-profile U.S. Climate Action Partnership, a coalition pushing for mandatory controls on greenhouse gas emissions. “Some of them see profits — such as Caterpillar, General Electric, DuPont, Alcoa, General Motors, British Petroleum, Shell Oil, ConocoPhillips, Entergy — and all are just trying [...]

By DANIELLE PLETKA and OMEED JAFARI  As Iran’s violations of its nuclear nonproliferation obligations have been revealed, U.N. sanctions have been imposed and economic pressures have been multilateralized. Since none of this has stopped Iran’s seemingly inexorable progress toward nuclear weapons, many have concluded that there are only two realistic options: war or engagement. In [...]

By JAD MOUAWAD Published: May 20, 2007 HOUSTON JOSEPH H. BRYANT, still boyish-looking at 51, jostles with glee among tens of thousands of people here at the Offshore Technology Conference, one of the energy industry’s biggest trade fairs. He is surrounded by newfangled technologies occupying more than half a million square feet of display space: [...]

Oliver Morgan Sunday May 20, 2007 The government has given its strongest indication yet that it would block an attempt by the Russian energy group Gazprom to take a significant stake in a UK energy company. Whitehall officials have indicated that ministers have reserve powers that could block a takeover. Gazprom has made clear its [...]

May 20, 2007 Jonathan Leake, Environment Editor The world’s largest untapped oil reserves – in northern Canada – have become the new front line in the battle between environmentalists and the energy industry. Shell, a self-styled “green” energy company, is to invest billions of pounds in exploiting the Athabasca tar sands. Environmentalists say the tar [...]