Royal Dutch Shell Plc  .com Rotating Header Image

Posts on ‘July 24th, 2007’

International Herald Tribune: Gunmen attack Nigeria oil official’s house, killing two family members

The Associated Press
Tuesday, July 24, 2007

PORT HARCOURT, Nigeria: Gunmen on motorbikes stormed the house of a newly appointed energy official in oil-rich southern Nigeria late Monday and killed two of his family members, police said.

Felix Ogbaudu, police commissioner for Rivers state, said Billy Braide had been holding a celebration following his appointment as energy commissioner for Nigeria’s biggest oil-producing state.

Minutes after Braide left the party, gunmen arrived and sprayed the house with bullets, killing Braide’s younger brother and cousin, while others were wounded, Ogbaudu said.

read more

Money Guzzlers: Big Oil Prepares to Announce Profits: Rhetoric and Reality Don’t Align When it Comes to Big Oil’s Investments

Center for American Progress Chart

Published by Center for American Progress
By Daniel J. Weiss, Anne Wingate

July 23, 2007
 
This week the big five oil companies will release their second-quarter 2007 profit figures.[1] Due to near-record gasoline prices and persistently high crude oil prices, these net earnings will be like Christmas in July for senior executives and shareholders of ExxonMobil Corp., Royal Dutch Shell Group, BP PLC, Chevron Corp., and Conoco Phillips Co.

Cramped refinery capacity has in part made gasoline more expensive.[2] A report released July 23 by OilWatchdog.org calls for government investigations into oil companies’ refinery operations—both the nature and duration of outages and the suppression of inventory, which combined to spike prices and profits.

read more

IRIN AFRICA: NIGERIA: Guns, gangs, drugs feed growing delta violence

PORT HARCOURT, 24 July 2007 (IRIN) – Youths armed with pistols and Kalashnikovs barricaded all approaches to Victoria Street in Port Harcourt, the main city in Nigeria’s oil-rich Niger Delta, when a funeral took place there recently. With bandanas tied across their foreheads they searched people for weapons before letting them through. The funeral passed off without incident.

“Their action was meant to deter possible attacks by rival gangs,” said Benibo Alabo-Jack, a resident of adjoining Aggrey Road, who watched the scene warily from his balcony.

read more

FORMER SHELL INTERNATIONAL GROUP AUDITOR, BILL CAMPBELL, TAKES ACTION AGAINST SHELL

SELF-EXPLANATORY CORRESPONDENCE

EMAIL FROM JOHN DONOVAN TO FORMER SHELL INTERNATIONAL GROUP AUDITOR, BILL CAMPBELL, COPIED TO SHELL (KEITH RUDDOCK, MICHIEL BRANDJES, JEROEN VAN DER VEER, JORMA OLLILA & MALCOLM BRINDED): 23 JULY 2007

Hello Bill

The draft email just fits within the 4000 characters (including spaces) limit for sending email via The Houses of Parliament website to MP’s.

We will have to supply your email address, your name, home address and phone number on the standard form for sending mail (not included within the character/spaces limit). This means you will receive directly any responses by email and letter. If past experience is any guide, you will receive many replies, including some from relevant government and shadow ministers.

read more

Anchorage Daily News: Beaufort freeze has Shell on its toes

COURT RULING: Company will talk to critics and try to save the drilling season.

By WESLEY LOY
[email protected]

Published: July 24, 2007
Last Modified: July 24, 2007 at 01:38 AM

Dutch oil giant Shell is fighting to salvage its ambitious plan to drill for oil this year in Alaska’s remote Beaufort Sea.

On one front, the company must overcome a court challenge that, for now, has frozen the drilling plan. And the company still must secure key government permits for the campaign.

On another front, the Beaufort will start icing up in fall, ending the drilling season.

read more

London Evening Standard: New BP chief’s anger as profits slip

Robert Lea, Evening Standard
24 July 2007, 8:16am

BP boss Tony Hayward has given his new production and refining chiefs a rocket as he today admitted to the City that the oil major is failing to perform.

With profits down at the half year, production levels stagnant and refineries failing to take advantage of soaring prices, Hayward said: ‘My message today is simple: BP’s current operational performance is not good enough.’

Hayward, 50, was making his City debut after being catapulted in as chief executive earlier than expected following the shock May Day resignation of Lord Browne, who had admitted lying to the High Court over his gay lover.

read more

CALGARY HERALD: Ottawa offers $25M to Dene for pipeline

24 July 2007

Hurdles remain for natural gas project
LISA SCHMIDT CALGARY HERALD

Ottawa will pay $25 million to the Dene Tha’ First Nation to settle concerns over the Mackenzie Valley Pipeline, but hurdles still remain for the natural gas project.

Under an agreement announced Monday, the Dene Tha’ will drop court action against the pipeline in exchange for the funding that will help address socio-economic impacts resulting from the pipeline.

The agreement also sets out a timeframe for the federal government’s review of the aboriginal band’s land claim and outlines how the group is to be consulted on the pipeline and future projects.

read more

MoneyCNN.com: 2ND UPDATE: BP Manages Small Profit Rise Despite Disruptions

July 24, 2007: 07:15 AM EST

LONDON (Dow Jones) — BP on Tuesday reported a surprise rise in second-quarter profit, as the British oil giant said gains from the sale of assets offset disruptions at a U.S. refinery.

BP (BP) said its quarterly profit rose 1.5% to $7.38 billion, or 38.18 cents a share, with revenue virtually flat at $73.08 billion.

Adjusted for the impact of energy price changes on inventories as well as $741 million in one-off gains, and its profit decline of 13% to $5.35 billion wasn’t as bad as the $5 billion in profit that analysts had forecast.

read more

Hemscott.com: BP CEO sees ‘progress’ by end-2007, CFO to stay on until 2009

LONDON (Thomson Financial) – Tony Hayward, chief executive of BP PLC, is expecting progress in achieving a recovery in the oil major’s performance following a turbulent two years, marked by project delays and outages at its major US refineries.

‘I am determined that we should see progress by the end of the year and that the momentum will build steadily through 2008,’ Hayward told reporters at a news conference following the group’s second quarter results.

However in the near term, Hayward said he expects to see further pressure on earnings and cash flow from cost inflation and higher depreciation charges.

read more

Reuters: BP CEO says not in merger talks with Shell

Tue Jul 24, 2007 10:30 AM BST

LONDON, July 24 (Reuters) – Oil giant BP Plc said on Tuesday it was not in merger talks with rival Royal Dutch Shell, denying a perennial market rumour which resurfaced a few weeks ago.

Chief Executive Tony Hayward also told reporters that BP had no plans to merge with Gazprom, although it could contribute mid-stream gas assets to a joint venture with the Russian gas monopoly.

© Reuters 2007. All Rights Reserved. 

Times Online: Tony Hayward attacks BP performance

July 24, 2007

Despite a surging oil price, production problems and refining outtages cut BP’s profits to $6bn between March and June: Steve Hawkes

Tony Hayward admitted today that BP was falling behind its rivals as he delivered a profits fall in his first set of results since taking over as chief executive of the oil giant.

Mr Hayward, who replaced Lord Browne of Madingley in May, said BP’s current operating performance was “not good enough” given a slump in production and continuing problems at its refineries in the US.

read more

THE NEW YORK POST: PENSION $$ IN POCKETS OF TERRORISTS

By GINGER ADAMS OTIS

July 24, 2007 — More than $28 billion in state pension funds have been invested in companies doing business with terrorist nations Iran, Syria, Sudan and North Korea, The Post has learned.

A breakdown issued by state Sen. Jeff Klein shows about 14 percent – or $10.4 billion – of the state’s $75 billion in equity assets has gone to firms that deal with Iran’s natural-gas and oil industries.

Another $17.4 billion is tied up in conglomerates that invest in Syria and Sudan. And North Korean investments account for about 1 percent – nearly $1 million – of the state’s pension portfolio, Klein said.

read more

%d bloggers like this: