Posts on ‘May 22nd, 2007’

May 22, 2007, 12:28PM By ALEX NICHOLSON AP Business Writer � 2007 The Associated Press MOSCOW � BP PLC’s license to develop a giant Siberian gas field could be revoked in days, Russia’s environmental watchdog said Tuesday, as pressure mounted against one of the last major foreign-controlled energy projects in the country. Losing its license [...]

BP Shuts 100,000 Barrels of Output in Prudhoe Bay for a ‘Few Days’ Due to Water Pipeline Leak Tuesday May 22, 10:40 am ET By Alan Zibel, AP Business Writer� WASHINGTON (AP) — BP said Tuesday it will shut down 100,000 barrels, or one quarter, of its Alaskan oil production for a “few days” after [...]

22/5/2007 LONDON (Thomson Financial) – Persistent claims by Russian regulators the developers of the giant Kovykta gas field, led by BP PLC joint venture TNK-BP, has breached their license obligations are likely a precursor to the entry of state-run Gazprom into the 18 bln usd project, a move that is seen to ultimately benefit TNK-BP [...]

Tuesday, May 22, 2007 DEM Solutions announces that Twister BV, an affiliate of Shell, has adopted DEM Solution�s EDEM software in the design and optimization of their market-leading offshore gas treatment equipment. Twister BV designs innovative gas processing technology allowing a cost effective and environmentally clean approach to gas conditioning. Its patented Twister� Supersonic Separator [...]

By Sybil Chahbandour Princeton, New Jersey, May 22 (Bloomberg Data) — Royal Dutch Shell PLC (RDS/A US) was raised to “buy” from “hold” by analyst L Bruce Lanni at A.G. Edwards & Sons Inc. The price target is $91.00 per ADR. [Current price is $75] Last Updated: May 22, 2007 10:17 EDT

Tue May 22, 2007 1:57 PM BST May 22 (Reuters) – BP’s Russian venture TNK-BP may lose rights to develop the giant East Siberian Kovykta gas field in days, Russia’s environmental agency has said. The agency’s deputy head Oleg Mitvol said inspectors would begin an examination of the project on Wednesday, adding: “The results of [...]

Headline: ‘Choppy session’ leaves Footsie little changed By Alistair McArthur May 22, 2007 LONDON FTSE 100 CLOSE 6,636.8 -4.1 THE London market closed in negative territory yesterday despite a strong showing from mining and oil shares. The FTSE 100 index closed 4.1 points down at 6,636.8 – despite peaking 34.1 points ahead during the day [...]

By DAVID SHAND, The Express Published: May 22, 2007 EXTRACT After last week’s rumours of bid interest in Cairn Energy, 42p higher at 1825p, and a potential merger between BP and Shell, up 8p to 590p and 37p to 1943p, the latest gossip suggested exploration giant BG Group, 11 dp slicker at 791 dp, could [...]

By Renee Lawrence May 22 (Bloomberg) — U.K. natural-gas prices declined as forecasts of warmer weather trimmed demand for heating and maintenance at the country’s biggest gas terminal was completed. Gas for delivery balance of this week at the National Balancing Point, the U.K. trading hub, fell 2 percent to 21.95 pence a therm at [...]

By Lucian Kim May 22 (Bloomberg) — Sibir Energy Plc, a London-based company that extracts oil in Russia, may create a new venture with OAO Gazprom Neft by pooling together common assets, Vedomosti reported today. Sibir billionaire shareholder Shalva Chigirinsky told the Moscow-based newspaper that he is ready to put aside years of court cases [...]

By Maher Chmaytelli May 22 (Bloomberg) — Libya, the holder of Africa’s largest oil reserves, plans to offer exploration rights in about 20 plots of land in July to increase natural-gas output, the nation’s top oil official said. “We will invite bids for exploration in early July,” Shokri Ghanem, the head of Libya’s state-run National [...]

� This article was published by Market Leader in October 2006. The author, a retired Shell Executive, Mr Paddy Briggs, has kindly given us consent to republish it in view of current speculation about mergers and demergers. By PADDY BRIGGS INTRODUCTION: The recent call by the respected financial adviser JP Morgan Cazenove for oil giant [...]

Richard Lloyd/The American Lawyer Only three securities class actions were filed against European companies in U.S. courts in 2006, down from a peak of nine in 2004, according to a newly released survey by accounting firm PricewaterhouseCoopers LLP. But while European companies can breathe a little easier in the United States, there’s increasing unease at [...]

Published: May 22, 2007 A GARDA sergeant has told a court he had his right thumb fractured when he was hurled “with immense force” into a drain during scuffles with Shell to Sea protesters. Sgt Donie Glennon told a special sitting of Belmullet District Court that he landed head first in water after being struck [...]

By Catherine Belton in Moscow Published: May 22 2007 03:00 | Last updated: May 22 2007 03:00 Moscow ratcheted up pressure on BP’s Russian venture yesterday, warning that TNK-BP could see the licence for its vast Kovykta gas field revoked within “amatter of days”. Oleg Mitvol, head of Russia’s environmental watchdog, said his agency would [...]