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Posts from ‘July, 2007’

IntelliBriefs: The Great Game : 21st Century Version

The rules of the game
July 31, 2007

The current century began in an intensely violent manner and there are no signs of a let up. Two and a half deadly wars are being fought in our neighbourhood and threaten to spread further and may even affect India in the years ahead.

These are the results of great power politics, ambitions and economic needs. It is therefore interesting to go through some of the statements by Western strategists and political analysts from time to time. There is a common thread running through them – that seeks total dominance over the rest of the world.

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The Moscow Times: Billion-Dollar Principles

Wednesday, August 1, 2007. Issue 3711. Page 7.
By Yulia Latynina
 
The president and owner of Russneft, Mikhail Gutseriyev, wrote an open letter in which he accused authorities of “unprecedented persecution” in an effort to make him “more compliant.” Gutseriyev also announced that he would leave his post in order to keep the company intact. It is widely known that Oleg Deripaska, who is one of the Kremlin’s favored oligarchs, will buy Russneft. In this context, it is important to remember Deripaska’s interview with the Financial Times in which he said he was prepared to hand his company over to the state if requested to do so.

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Tribune (Nigeria): Alamieyeseigha, Dokubo, Niger Delta and Nigeria’s oil industry

Nigerian Tribune image 

Diepreye Alamieyeseigha, former
Governor of Bayelsa State

By Martin Ayankola, Lagos

Former Bayelsa State Governor, Chief Diepreye Alamieyeseigha, was on Friday released from the Ikoyi Prisons, Lagos, following the expiration of the two-year jail sentence handed down to him on Thursday by a Federal High Court in Lagos. The release came after a plea bargaining arrangement that resulted in Alamieyeseigha pleading guilty to charges against him and the Judge sentencing him to 2 years imprisonment with forfeiture of assets.

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Financial Times: Falkland Islands upstream sector: Consolidation likely within the next year, sources say

By Oliver Adelman in London
Published: July 31 2007 15:01 | Last updated: July 31 2007 15:01

Please email [email protected] or call EMEA: + 44 (0)20 7059 6105 Americas: +1 212 686-5277 Asia-Pacific: +852 2158 9730 for further information on mergermarket and how to receive more articles like the one below.
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Kansas City Star: Oil industry executives show hypocrisy on hot fuel

In their latest round of misleading statements about hot fuel, Big Oil executives made one thing clear: Their customers don’t matter.

Testifying last week on Capitol Hill, the executives tried to convince Congress to let the companies continue selling gasoline from pumps that do not adjust for temperature.

Shell Oil Vice President Hugh Cooley said his company “does not believe that the American consumers are harmed in any way.”

But they are. In warmer months, gasoline expands and — if retail pumps aren’t adjusted for this — motorists get less energy than they pay for.

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The Napa Valley Register: Help stop the drilling at ANWR

Tuesday, July 31, 2007

The Bush administration is opening the back door to the Arctic National Wildlife Refuge by letting Shell Oil begin drilling off the coastline this summer. This leaves the entire area vulnerable to a massive oil spill, which is inevitable.

With only one oil spill, there will be a permanent toxic waste site that can never be cleaned up — because the oil industry has no proven methods for cleaning up oil spills in icy waters.

The irony is that the Bush administration has already predicted that at least one oil spill is “likely to occur,” and they are also aware that a toxic oil spill would spread into migratory routes, which would endanger bowhead whales, polar bear birthing grounds and hundreds of thousands of migratory birds. How can this administration be so completely insensitive to anything but profit? It astounds me.

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Associated Press: Marathon Oil to buy Western Oil for $5.5B

Associated Press – July 31, 2007 10:25 AM ET

HOUSTON (AP) – Marathon Oil has agreed to buy Western Oil Sands for $5.5 billion in cash and stock.

The deal announced today would give Houston-based Marathon a stake in Canada’s oil sands market.

As part of the deal, Western is required to spin off WesternZagros, its wholly-owned subsidiary with interests in Kurdistan.

The closing is expected in the fourth quarter of this year.

Marathon says the agreement will give it a 20% interest in the Athabasca Oil Sands Project in Alberta — currently held by Western Oil.

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NewsMax.com: OPEC Gets $649 Billion Windfall on Oil Boom

Tuesday, July 31, 2007 10:07 a.m. EDT

LONDON — OPEC’s oil and gas export revenue surged 22 percent to a record $649 billion in 2006 as crude prices hit an all-time high and the exporter group pumped close to full tilt, an OPEC report showed on Tuesday.

In the world’s biggest oil exporter Saudi Arabia income from petroleum exports, including crude oil, condensates and natural gas liquids, hit $194 billion last year, a rise of 20 percent, OPEC said in its Annual Statistical Bulletin.

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The Mayo News: EU takes on Corrib controversy

Tuesday, 31 July 2007 
Áine Ryan

DR MARK GARAVAN was last week formally notified of the European Commission’s Environment Directorate’s intention to conduct a preliminary investigation into the Corrib gas project. Alleged breaches of several EU Directives were formally highlighted by Dr Garavan through the offices of the European Parliament’s Petitions Committee.

The former Shell to Sea spokesman has welcomed the efficiency of the EU’s response to the complaints, observing that the Irish Government seemed to be regularly in breach of directives which then resulted in significant fines.

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BBC News: Nigerian gunmen seize Pakistani

Tuesday, 31 July 2007, 09:50 GMT 10:50 UK 

Unknown gunmen in speedboats have kidnapped a Pakistani construction worker in Nigeria’s oil region.

Seven men dressed in red seized the man, named as Tahri, in Bodo city in Ogoniland, security sources say.

The man works for Italian firm Gitto. Such kidnappings are common in the region and most hostages are released unharmed after a ransom is paid.

More than 150 foreigners – mostly oil workers – and many Nigerians have been kidnapped in the region this year.

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Money Morning.com: Oil Companies Continue to Take Risks Despite Objections

By Jason Simpkins
31 July 2007

A group of U.S. pension funds, including the California Public Employees’ Retirement System (Calpers), the New York State Common Retirement Funds, and New York City Pension Funds, have leveled pointed criticisms at several oil and gas companies for their involvement in Iran’s energy sector.  The letter went out to such prominent global energy giants as Royal Dutch Shell Plc. (NYSE: RDS.A), Total (NYSE: TOT), Eni (NYSE: ENI), Repsol (NYSE: REP), and Gazprom (NYSE: GAZP).

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Reuters AlertNet: ANALYSIS-Nigerian delta peace moves to unlock oil output

31 Jul 2007 12:01:58 GMT
Source: Reuters

Background
Nigeria violence
More  By Tom Ashby

LAGOS, July 31 (Reuters) – Nigeria’s new government and militant groups in the oil-producing Niger Delta are moving towards talks that could restore lost output from the world’s eighth-largest oil exporter.

An 18-month campaign of guerrilla attacks on Western oil facilities has prompted thousands of foreigners to leave Africa’s top producer, reduced output by a fifth and helped oil prices rise to record highs.

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