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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 […]

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

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 […]

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 […]



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, […]

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 […]

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 […] 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 […] 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 […]

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 […]

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 […]


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 […] Malcolm Brinded in a spin

Email to Royal Dutch Shell Plc Company Secretary, Michiel Brandjes: 23 July 2007 Dear Mr Brandjes We have today received information from a trusted Shell insider source which relates to the integrity of Shell management and to Mr Malcolm Brinded in particular.  We intend to publish this information tomorrow. We will publish unedited any comments […]

Lloyds List: Small is beautiful for new IM Skaugen LNG project

Tony Gray, Lloyds List Published: Jul 24, 2007 NORWEGIAN shipowner IM Skaugen and compatriot utility Lyse Gass are pushing ahead with a liquefied natural gas project which will involve unusually small vessels. They have established Nordic LNG, a joint venture which aims to become a market leader in the small-scale distribution of LNG in north […]

Lloyds List: Court halts Beaufort Sea exploration

Published: Jul 24, 2007 ROYAL Dutch Shell has been forced to suspend its much anticipated Beaufort Sea exploration campaign by the US federal court, writes Martyn Wingrove. Environmental groups and whalers have successfully stopped the Anglo-Dutch group from using drilling rigs in the Arctic seas offshore Alaska until mid-August, when the court sessions begin in […]

Financial Times: Falkland Oil leads surge

By Robert Orr and Neil Hume Published: July 24 2007 03:00 | Last updated: July 24 2007 03:00 Falkland Oil & Gas spearheaded a surge in shares of companies operating in and around the South Atlantic islands as the exploration group said it was near to a deal with a resource company. The potential partner […]

Financial Times: BP seeks growth in joint ventures

By Ed Crooks Published: July 24 2007 03:00 | Last updated: July 24 2007 03:00 BP, one of the three biggest western oil companies, is seeking more joint ventures with Russia and other resource-rich countries as a way to deliver growth. The company today kicks off the reporting season for the international oil groups and […]

Financial Times: Cosy in Bangalore

EXTRACT: Shell last year set up a technology centre in India delivering high-end technical studies, projects and services for the group’s global businesses. By Joe Leahy Published: July 24 2007 03:00 | Last updated: July 24 2007 03:00 Most people know that India’s talent crunch is driving up the wage bills of the country’s computer […]

Financial Times: BP faces sea change on way to recovery

By Ed Crooks Published: July 24 2007 03:00 | Last updated: July 24 2007 03:00 Today’s half-year results for BP, presented by Tony Hayward for the first time since he took over as chief executive in May, are expected to be a stark reminder of the challenge the company faces. Analysts think profits for the […]

Financial Times: Hayward has to deal with a classic successor conundrum

By Ed Crooks Published: July 24 2007 03:00 | Last updated: July 24 2007 03:00 Tony Hayward faces the classic conundrum of all leaders promoted internally after a long period of dominance by their predecessor: how to signal change without denigrating the previous leadership. In Mr Hayward’s case, the challenge is greater because – unlike […]

Financial Times: Business leaders wary of Buncefield proposal

By Rebecca Bream Published: July 24 2007 03:14 | Last updated: July 24 2007 03:14 BP’s plan to resume storage of petrol and diesel at the Buncefield oil depot in Hertfordshire has been met by stiff opposition from business and council leaders in the area. The Buncefield depot near Hemel Hempstead was the site of […]

Financial Times: Sanctions fail to fuel dissent on Iran’s streets

By Gareth Smyth in Tehran Published: July 24 2007 04:47 | Last updated: July 24 2007 04:47 When angry motorists torched petrol stations as Tehran introduced rationing last month, Iran’s opponents scented success. Ehud Olmert, Israeli prime minister, said it showed “economic sanctions are working increasingly well”. But after three weeks of rationing, riots have […]

The Globe & Mail: Dene Tha get $25-million from Ottawa

Will help settle failure to consult first nations group over Mackenzie Valley pipeline project DAVID EBNER July 24, 2007 CALGARY — Ottawa will pay $25-million to help settle a court dispute over its failure to consult with aboriginals over the proposed Mackenzie Valley natural gas pipeline, and the lawyer who represents the native group said […]


Bloomberg News July 24, 2007 Shares of Noble Corp. and other oil and gas drillers rose after news broke of the Transocean and GlobalSantaFe deal, raising speculation that the merger will spur more takeovers in the industry. Noble, based near Houston, climbed $3.82 to close at $106.28 on the New York Stock Exchange. Dallas-based Ensco […]

The Globe & Mail: Rumour mongers focus on Western Oil Sands spinoff

EXTRACT: Looming large over all this speculation on Western’s future are the company’s two partners on the Athabasca project; Royal Dutch Shell and Chevron. Both are seen as potential buyers, with little reason to commit their money unless another outside bidder makes a play for Western. THE ARTICLE STREETWISE ANDREW WILLIS July 24, 2007 There’s […]

Vanguard (Nigeria): Warri kerosine explosions: Death toll rises

By Emma Amaize & Emma Arubi Posted to the Web: Tuesday, July 24, 2007 WARRI — death toll in the kerosine fire explosion in Delta State rose yesterday as another victim gave up the ghost, bringing the total number of deaths to 11. Vanguard learnt that the killer kerosine is condensate stolen by pipeline vandals […]

Daily Telegraph: BP profits drop on production declines

By Richard Blackden Last Updated: 7:48am BST 24/07/2007 A decline in production has hit profits at oil giant BP despite an increase in crude oil prices during the second quarter. Profits dropped to $6.08bn in the second quarter from $6.11bn in the same period in 2006. BP, whose results kick off the reporting season for […]

The Wall Street Journal: Pension Funds Weigh In on Iran

By CRAIG KARMIN July 24, 2007; Page A3 With states around the country working on bills to force their public pension funds to unload shares of foreign companies doing business in Iran, a coalition of large public funds has begun pressuring companies to reconsider their ties to that nation. The coalition is composed of pension […] Royal Dutch Shell and the struggle for Iraqi oil

By Jörg Victor 24 July 2007 Despite growing popular opposition, the Dutch government coalition of the Christian Democrats (CDA), Social Democrats (PvdA) and Christian Union (CU), under Christian Democratic Prime Minister Jan Pieter Balkenende, continues to provide military support to US imperialism in the Middle East and Central Asia. One of the greatest beneficiaries of […]

Bloomberg: Sarkozy, U.S. Lawyers Shift Class-Actions to Europe (Update1)

EXTRACT: Shell’s $353 million settlement with non-U.S. shareholders was good for both the company and investors, Hess and lawyers for the plaintiffs say. If the Hague-based Shell can settle with European shareholders, the oil company may avoid the risk of a worldwide action brought before a U.S. jury with the power to award even more […]

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