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Posts on ‘July 4th, 2007’

The Times: Gazprom to create its own private army to protect oil installations

July 5, 2007 Carl Mortished, International Business Editor Gazprom will create its own private army after Russian lawmakers gave the gas utility and Transneft, the state oil pipeline monopoly, the power to create armed units to defend their installations. A Bill passed yesterday by the Duma, the parliament’s lower house, would allow Gazprom and Transneft [...]

Terrace Standard (Canada): Shell revives methane plans

Jul 04 2007 A MAJOR energy company that left the Northwest more than two years ago after a group of native people said it wasn’t wanted is making plans to return. Shell Canada has been holding meetings in Dease Lake and other places north of here to gauge community reaction to its plans to resume [...]

Bloomberg: Oil Trades Near 10-Month High After Shell’s Nigeria Rig Attack

By Eduard Gismatullin July 4 (Bloomberg) — Crude oil traded near a 10-month high in New York after Royal Dutch Shell Plc said militants attacked its rig in Nigeria, raising concern about further oil-supply disruptions from Africa’s largest producer. Five expatriate contractors working for Lonestar Drilling Nigeria Ltd. were taken hostage, said Precious Okolobo, a [...]

Bloomberg: Westbrook to Acquire Shell-Mex House for $988 Million (Update1)

By Simon Packard July 4 (Bloomberg) — Westbrook Partners LLC, the New York- based property investor, agreed to buy London’s Shell-Mex House, an art-deco office building overlooking the Thames river, for about 490 million pounds ($988 million). The purchase is due to be completed tomorrow, said Mark Donnor, managing principal of Westbrook’s European business, in [...]

HULIQ, NC: Clues Confirming Reported BP Shell Mega Merger

Clues suggest that merger talks between two oil giants, BP and Royal Dutch Shell, to create the world’s biggest corporate titan, eclipsing ExxonMobil are underway. Yesterday two British newspapers, The Times and the Daily Mail, reported news of merger discussions between BP and Royal Dutch Shell to create a corporate titan – the world’s largest [...]

Former Shell Executive Paddy Briggs comments on the possibility of a BP Shell merger

(Former Royal Dutch Shell Executive, Paddy Briggs) There is a very strong logic indeed to a merger between BP and Shell, providing this merger is accompanied by a split between the (merged) upstream and the (merged) downstream businesses. A Shell/BP upstream company would be a phenomenal corporation – not just clear sector leader but also [...]

Bloomberg: Oil Falls From Near 10-Month High as Gains Seen as Unjustified

Extract: In Nigeria, Royal Dutch Shell Plc’s oil rig was attacked and five expatriates were taken hostage, Precious Okolobo, a spokesman for Shell’s Nigerian venture, said today. The attack occurred in the Soku field, where the rig was drilling a well. No production was affected, he said. By Eduard Gismatullin   Traders work in the [...]

Bloomberg: Libya to Auction Gas Permits, Boost Supply to Europe (Update2)

By Maher Chmaytelli July 4 (Bloomberg) — Libya, the holder of Africa’s largest oil reserves, will stage its first auction of natural-gas exploration rights in December, as the nation seeks to increase its sales of the fuel to Europe, the state-run oil company’s chairman said. Libya will announce “in the next few days” the exact [...]

MarketWatch: Shell says Nigeria oil-exploration rig attacked, but output unaffected

By Angela Henshall Last Update: 8:09 AM ET Jul 4, 2007 LONDON (MarketWatch) — A crude oil exploration rig located in the Soku Field, Nigeria, has been temporarily shut down and personnel evacuated following an attack by a militant group but output has not been affected. Spokeswoman Eurwen Thomas said five workers employed by contractor [...]

Reuters: No impact on oil output from Nigeria attack -Shell

Wed Jul 4, 2007 11:51 AM BST ABUJA, July 4 (Reuters) – An attack on a drilling rig in the Niger Delta in southern Nigeria on Wednesday has not affected oil production because the rig is an exploration facility, a spokesman for Shell (RDSa.L: Quote, Profile , Research) in Nigeria said. Precious Okolobo said the [...]

Reuters: Nigerian rebels end truce

Wed Jul 4, 2007 10:05AM BST By Austin Ekeinde PORT HARCOURT, Nigeria (Reuters) – Gunmen attacked a Shell oil rig in the Niger Delta in southern Nigeria early on Wednesday and kidnapped five expatriates, police and security sources said. This came as the rebel Movement for the Emancipation of the Niger Delta (MEND), responsible for [...]

ISN Security Watch: Questioning AFRICOM’s intentions

As plans move ahead for a US Africa Command, African nations remain cool to the idea amid fears of mission creep and unclear US intentions. By John C K Daly for ISN Security Watch (02/07/07) As US plans for an African command (AFRICOM) operations base forge ahead, perceptions that the base’s raison d’etre is to [...]

Bloomberg: Oil Company Second-Quarter Profits Will Benefit From Refining

Extract: Royal Dutch Shell Plc will decide later this year whether to go ahead with a project to double capacity at its joint-venture refinery in Port Arthur, Texas. By Stephen Voss July 3 (Bloomberg) — Major oil companies are set to reap profits from their refining businesses for the second quarter as prices for gasoline [...]

El Comercio (Peru): Ecuador: Shell gets consulting contract for Esmeraldas refinery

Published: Jul 03, 2007 The board of Petroecuador has accepted the proposal of Shell to intervene in the petroleum refinery of Esmeraldas, engaging in management consulting services and training the labour force. Enap had interest to present an offer similar to Shell`s, but wanted also a partnership with Petroecuador which declined. Shell services are to [...]

Lloyds List: Financing offshore exploration and production

Published: Jul 04, 2007 What’s the fuss? THE surge in demand for energy, coupled with high oil prices, has led to a boom in exploration and production. Given that offshore activity is expected to represent 43% of oil production and 83% of gas production by the end of 2008, there is much interest in the [...]