September 12th, 2007:

By LEO JOHNSON
September 13, 2007

The “Queen of Green,” the “Mother Teresa of Capitalism,” the formally appointed “Chief Wiper Away of Tears” of the Ogoni People — Anita Roddick, founder of The Body Shop, died this week. What was her real legacy? Was she the pioneer that mainstreamed corporate social responsibility as a corporate necessity? Was she the activist who sold out to big business?
 
It all began in Brighton. Anita had two kids. No job, no cash, and a husband who had gone off to ride a horse from Buenos Aires to New York. What she did have was an idea: a local shop selling homemade beauty products. She had spotted a location, nestled between two funeral parlors in downtown Brighton. She could call it “The Body Shop.” Plus, she reckoned, she could paint the walls green to hide the mold. If the company couldn’t afford enough bottles, customers could easily bring them back to refill their own. They would call it recycling. read more

Wed Sep 12, 2007 2:59pm ET
By Scott Haggett

CALGARY, Alberta, Sept 12 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile , Research) won’t be using nuclear power at its extensive Canadian oil sands operations, the head of the company’s Canadian unit said on Wednesday.

Adrian Loader, president of Shell Canada, quashed speculation it could be a customer for a 2,200-megawatt nuclear plant touted for northern Alberta. Shell plans to produce its own power for its oil sands projects. read more

Thursday, September 13, 2007. Issue 3742. Page 6.

Kashagan Date Set

ALMATY, Kazakhstan — Kazakhstan has given Eni until Oct. 22 to negotiate a “friendly” deal on the development of Kashagan, the world’s biggest oil discovery in three decades, after Tuesday calling Eni’s development plan unacceptable.

“The sides have until Oct. 22 to negotiate a friendly settlement,” Prime Minister Karim Masimov said Wednesday, a day after holding talks with Eni CEO Paolo Scaroni. (Bloomberg) read more

By WESLEY LOY
[email protected]

Published: September 12, 2007
Last Modified: September 12, 2007 at 04:39 PM

Shell will start releasing contract workers and soon could disband its offshore drilling fleet due to a federal court order blocking the oil company’s plans to drill exploratory wells this fall in the Beaufort Sea.

The retrenchment does not mean Shell is abandoning its drilling goals, Shell spokesman Curtis Smith said today.

The Dutch energy giant is moving ahead with offshore seismic testing in the Beaufort as well as the Chukchi Sea, he said. read more

Published: Sep 12, 2007

RIO DE JANEIRO (Thomson Financial) – Brazilian mining group Compagnie Vale do Rio Doce (CVRD) said it has signed an agreement with Royal Dutch Shell’s Brazilian unit under which the groups will study jointly exploiting natural gas blocks operated by Shell Brazil in the federal state of Espirito Santo in the southeast.

CVRD is looking at diversifying its energy sources, it said.

The cooperation could see the two groups teaming up to buying new exploration blocks that the government will seek tenders for in Nov 2008. read more

By Ed Crooks in Vienna
Published: September 12 2007 19:45 | Last updated: September 12 2007 19:45

Lukoil, Russia’s second biggest oil company, is planning more acquisitions in the European Union, believing that the market has become more favourable for deals, a senior executive has told the Financial Times.

Lukoil, which is 20 per cent owned by ConocoPhillips of the US, has earmarked $9bn for buying downstream businesses in Europe, including refining, distribution and retailing.

Leonid Fedun, Lukoil’s vice-president for strategy, said: “Until recently, it was not a good situation for acquisitions, be-cause stock markets were going up and the oil price was high, so sellers had very high expectations as to prices. Now the stock markets are much healthier.” read more

Wed Sep 12, 2007 2:41pm ET
By Richard Valdmanis

NEW YORK (Reuters) – Crude oil prices vaulted to a record high $80 a barrel on Wednesday as dealers focused on tight inventories in top consumer the United States ahead of peak winter demand.

A rash of fires at BP’s oil fields in Alaska’s North Slope added to the record run, though BP said the accidents had minimal impact to production that was already being curtailed by routine maintenance.

The surge in oil prices came a day after OPEC agreed to a small production hike in an effort to soothe consumer nations’ fears that soaring crude costs could slow economic growth. read more

Wed Sep 12, 2007 5:19 PM BST
(In U.S. dollars)

CALGARY, Alberta, Sept 12 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile , Research) will make a final decision on whether to go ahead with a $5 billion plan to double capacity at its oil refinery at Port Arthur, Texas, by yearend, chief executive Jeroen van der Veer said on Wednesday.

Shell and Saudi Refining Co., joint-venture partners in the Motiva Enterprises refinery, are considering a plan to expand capacity to 600,000 barrels a day from 285,000. read more

Wed Sep 12, 2007 7:13AM EDT
Michael Stott and Anastasia Onegina

MOSCOW (Reuters) – A top Kremlin economic aide told Reuters he had not heard of plans to create a giant Russian state energy firm by merging state-controlled Rosneft (ROSN.MM: Quote, Profile, Research), private Surgutneftegas (SNGS.MM: Quote, Profile, Research) and other smaller players.

“I don’t have such information,” Arkady Dvorkovich, the head of the Presidential Experts Directorate, said at the Reuters Russia Summit. read more

Wed Sep 12, 2007 4:30 PM BST

(Adds detail and comment. In U.S. dollars)

CALGARY, Alberta, Sept 12 (Reuters) – Royal Dutch Shell Plc’s (RDSa.L: Quote, Profile , Research) top executive said on Wednesday he sees no fundamental reason for crude oil prices that have jumped above $78 a barrel.

“No one has to wait at the gas pumps of the world. There is no physical problem,” Shell Chief Executive Jeroen van der Veer told reporters in Calgary.

“(There is) a lot of psychology in the price.” he said. read more

(Mr Ivanov and Mr Putin, both ex-KGB, are close associates)

This week Russian communists laid flowers at the tomb of Soviet secret police founder Felix Dzerzhinsky, on the 130th anniversary of his birth.

The BBC’s James Rodgers in Moscow examines the enduring influence of the secret police in the era of President Vladimir Putin – himself a former KGB officer.

Communist-era secret police became hate figures across much of the Soviet bloc during the Cold War.

When those regimes unravelled in the late 1980s and early 1990s, people celebrated their demise. Archives were opened, informers were exposed, former dissidents became presidents. read more

By Eric Lidji
[email protected]
Published September 12, 2007

Shell Oil announced Tuesday that it plans to start laying off personnel from its offshore drilling program in Alaska in response to delays brought about by a lawsuit undergoing review by a federal appeals court.

While the company could not provide a detailed breakdown of how many people might be affected by the decision or when the lay-offs might begin, it did say the measure would take effect “gradually” and could effect hundreds of workers. read more

EXTRACT: …Strimling identified current investments by the state of more than $50 million in companies such as Royal Dutch Shell, Siemens AG, Repsol, Hyundia and others that do millions of dollars worth of business, mostly in the oil, gas and energy industries of Iran, Syria and North Korea.

THE ARTICLE

PORTLAND (Sep 11): Sen. Ethan Strimling, D-Portland, said he would introduce legislation directing the state to divest its holdings in companies that do business in countries that support and finance international terrorism. read more

Published: Sep 12, 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 a high level of interest in the offshore market.

Furthermore, as oil and gas prices continue to rise, the exploration and production of previously ignored marginal fields is now becoming economically viable, and drillships, production vessels and supply ships are all in demand, boosting the orderbooks of specialist shipyards and offshore vessels owners. While the profits to be gained from traditional ship financing have levelled, the offshore sector remains buoyant and is seen as a potential growth area, with ship finance banks moving into the market. read more

Published: Sep 12, 2007

KUALA LUMPUR: More than 1,000 primary and secondary students participated in Shell’s 50th National Traffic Games 2007 yesterday.

A sum of RM2.5 million was invested by Shell Malaysia to organise the event which involved 40,000 students from 34 schools nationwide who went through district and state rounds.

The annual road safety competition culminated with the national finals held at the Kuala Lumpur City Hall’s Traffic Garden at the Titiwangsa Lake Gardens, here.

The competition was a joint effort by Shell Malaysia, the state Road Safety Council, the Education Ministry, the police and other government agencies. read more