Posts on ‘June 22nd, 2007’

EXTRACT: Another pointer to the general climate is that one of the major projects that was due to come on stream, namely the giant LNG project run by Gazprom and Shell – Sakhalin 2 has also hit some apparent problems. The deputy head of Sakhalin 2 one David Greer has just resigned, purportedly about a [...]

Friday 22 June 2007 The entire content of the article below was supplied this morning to the following individuals: Michiel Brandjes, Company Secretary of Royal Dutch Shell Plc Jeroen van der Veer, Chief Executive Officer of Royal Dutch Shell Plc Jorma Ollila, Chairman of Royal Dutch Shell Plc Malcolm Brinded, Chief Executive of Shell Exploration [...]

David Greer resigns by John Donovan   21 Jun 2007  07:38 PM Today information was leaked to us that David Greer had resigned. We checked with Sakhalin Energy and a Mr Jim Niven confirmed by email that this is indeed the case. With regard to the question of whether Ed Crooks described our website as being [...]

  Is this the worst motivational memo ever?   Yes 176/56%   No 136/44%

By Ed Crooks in London and Catherine Belton in Moscow Published: June 22 2007 10:45 | Last updated: June 22 2007 14:15 Gazprom is to buy TNK-BP’s controlling stake in the vast Kovykta gas field in Siberia, a deal that cements state-controlled Gazprom’s control over the Russian gas sector and resolves a long-running stand-off with [...]

By Torrey Clark and Lucian Kim June 22 (Bloomberg) — OAO Gazprom took control of BP Plc’s stake in a Siberian deposit with enough natural gas to supply Asia for five years as President Vladimir Putin ends foreign ownership of Russia’s biggest energy assets. State-run Gazprom will pay as much as $900 million for the [...]

22 June 2007 BP is seeking joint ventures with Russian firm Gazprom British oil firm BP has sold its stake in a Siberian gas field development to Russian state-controlled firm Gazprom. BP’s Russian joint venture TNK-BP has agreed to sell Gazprom its majority interests in the giant Kovykta field for between $700m-$900m (£350m-£450m). Analysts said [...]

June 22nd, 2007 08:40 To understand the predicament of President Omar Yar’Adua of Nigeria, please read about “Ali Baba and the 40 Thieves”. The new administration of President Omar Yar’Adua of the ruling People’s Democratic Party (PDP) is now at the mercy of the trade unions as the nationwide strike against hikes in the prices [...]

By Maher Chmaytelli June 22 (Bloomberg) — BP Plc, Europe’s second-largest petroleum company, and the Libyan government will share any oil fields BP may find under an exploration accord signed with the North African nation last month, a Libyan official said. The agreement was initially announced as a “natural-gas cooperation accord” during British Prime Minister [...]

EXTRACT: Motiva, a joint venture between Shell Oil and Saudi Aramco, plans to make a final investment decision this year on a project that will double the size of its 285,000-barrel-a-day refinery in Port Arthur. THE ARTICLE As project cost soar, companies are rethinking their plans to add capacity By BRETT CLANTON Copyright 2007 Houston [...]

By Julie Ziegler June 22 (Bloomberg) — A nationwide general strike in Nigeria, Africa’s biggest oil producer, continued for a third day after labor unions and the federal government failed to reach an agreement over an increase in domestic fuel prices. Peter Akpatason, the president of the National Union of Petroleum & Natural Gas Workers, [...]

By Gavin Evans and Hector Forster June 22 (Bloomberg) — Crude oil was little changed in New York after three days of declines on doubts strikes in Nigeria have halted exports from Africa’s largest producer. Oil workers left Nigeria’s export terminals yesterday in the second day of a general strike protesting an increase in domestic [...]

June 21, 2007, 2:53PM By JOHN PORRETTO AP Business Writer © 2007 The Associated Press HOUSTON — The world’s major oil companies replaced reserves at levels below 100 percent for the third straight year in 2006, while costs to find and produce the key asset continued to rise, a new analysis shows. Reserve replacements last [...]

June 22, 2007 Nigeria’s President Umar Yar’Adua came into office on May 29 after a sham ballot a month earlier. Africa’s most populous and oil-rich country isn’t easy to govern in the best of times, but the new President is fast learning that it’s near impossible without political legitimacy. The immediate crisis is a nationwide [...]

Sale of Majority Stake To Gazprom Would Tighten Kremlin’s Grip on Energy By GUY CHAZAN in London and GREGORY L. WHITE in Moscow June 22, 2007; Page A3 BP PLC, facing pressure from the Kremlin, is close to a deal that would cede its holdings in a $20 billion Russian natural-gas project to state-controlled gas [...]