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October 18th, 2007:

Forbes: Oil Fears Fade Slightly

Lionel Laurent, 10.18.07, 2:00 PM ET 
 
LONDON – Oil prices are gradually falling back from the $90 threshold, after hitting $89 on Wednesday’s news that Turkey had approved a full ground assault on northern Iraq to combat Kurdish guerillas.

Light, sweet crude for November delivery on the New York Mercantile Exchange was at $87.25 at midday Thursday, easing back from Wednesday’s record high of $89. December Brent crude also slipped 21 cents to $82.92 a barrel in London, returning to its usual position behind the U.S. West Texas benchmark. Their positions had reversed earlier this year following a refinery shutdown at Cushing, Okla. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

allAfrica.com: Nigeria: Infrastructure – Insecurity Hinders Our Intervention in N’delta – Envoy

This Day (Lagos)
18 October 2007
Paul Ohia
Lagos

Netherland Ambassador to Nigeria, Arie van der Wiel, has said that the level of security in the Niger Delta is the major impediment to his country’s attempt to provide social amnenities in the area.

According to him, militants activities make it difficult to embark on infrastructural and different development works in the area, rather, his country gives frequent travel warnings concerning the zone where Royal Dutch Shell carry out its activities.
 
Speaking during a courtesy visit to THISDAY yesterday, the envoy also said the volume of trade with Nigeria is low at present, but said the country remains the largest trading partner with his country in Africa. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

tradingmarkets.com: BG Group shares peak on acquisition talks

Thursday, October 18, 2007; Posted: 12:02 PM
 
Oct 18, 2007 (Datamonitor via COMTEX) — RDS/A | charts | news | PowerRating — UK-based gas company BG Group has seen its share price rise over 3% to hit an all-time as a result of industry rumors that Royal Dutch Shell and Petrobras may be looking to acquire the firm, reported Reuters.

Indeed, BG Group’s shares reportedly hit the top of the FTSE 100 leader board as traders speculated about a renewed round of bidding talks from Shell and Petrobras. However, Shell and BG Group have remained tight-lipped about the latest round of bids, revealed Reuters. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

environmental-finance.com: UK export credit agency slammed for lax environmental standards

EXTRACT: The ECGD has also come under fire from WWF for its lack of transparency and apparent support for the controversial Sakhalin II oil and gas infrastructure project on the Russian island. The environmental campaign group has applied for a judicial review, after discovering a letter which appears to promise its support for Sakhalin II – although this is refuted by the ECGD and the UK government.

THE ARTICLE

London, 18 October: The UK government came under attack yesterday for failing to ensure that its export credit agency performs tough enough environmental and social checks on the projects it subsidises. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Reckless approach of Royal Dutch Shell to HSE

By John Donovan

On 25 September 2007, Royal Dutch Shell Plc announced on its Intranet site the appointment of three new members to its executive committee, including Roxanne Decyk, Shell’s director of corporate affairs. Her responsibilities include HSE which must be a formidable challenge in view of Shell’s atrocious HSE track record, as detailed in the Wikipedia article: “Royal Dutch Shell safety concerns”

http://en.wikipedia.org/wiki/Royal_Dutch_Shell_safety_concerns

A few days ago we published a related article entitled “Deadly concerns remain over Shell employee safety”. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: Sinopec’s Shares Jump; Nears Shell, World’s No. 4 Oil Company

By Ying Lou

Oct. 18 (Bloomberg) — China Petroleum & Chemical Corp. jumped in Hong Kong trading, briefly overtaking Royal Dutch Shell Plc as fourth in the global ranking of oil and gas companies.

Asia’s biggest refiner gained as much as 8.8 percent, valuing the company at HK$2.1 trillion ($272 billion). The stock surged along with other companies listed in the territory after Beijing regulators said yesterday they may allow arbitrage between shares traded on the mainland and in Hong Kong. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: Iran, Venezuela Form Oil Venture to Rival Shell, Eni (Update1)

By Lucian Kim

Oct. 18 (Bloomberg) — Iran and Venezuela, the producers of about 9 percent of the world’s oil, will form a $1 billion global venture for projects in countries where companies such as Royal Dutch Shell Plc or Eni SpA are facing tougher business conditions.

Venezuelan-Iranian Oil & Gas Co., or VENIROGC, may be registered by the end of the year with its head office in a European country, Mohammad Ali Talebi, chief of Venezuelan operations at Iran’s state-owned Petropars Ltd., said in an interview in Tehran late yesterday. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

ITAR-TASS: Sakhalin Energy to work out plans for 3rd phase of GLP

18.10.2007, 10.31
 
 YUZHNO-SAKHALINSK, October 18 (Itar-Tass) – The Sakhalin Energy Company (SEC) has set about working out plans for building the third phase of the natural gas liquefaction plant (GLP) in Prigorodnoye (suburban) Township in Sakhalin’s south.

Sakhalin Region Governor Alexander Khoroshanin said the capacity of the third phase of the GLP might amount to seven million tonnes of gas a year.

According to the original project, the GLP is designed to turn out 9.6 million tonnes of liquefied gas a year. The construction of the first phase of the GLP is nearing completion. The GLP is to begin the supply of its output to the world market in 2008. The energy companies of Japan, the United States, and the Republic of Korea have bought up Sakhalin’s gas produced on the shelf of the Sea of Okhotsk by the SEC for 20-25 years ahead. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Bloomberg: Woodside Cuts Forecast on Asset Sales, Field Decline (Update3)

By Gavin Evans

 Oct. 18 (Bloomberg) — Woodside Petroleum Ltd., Australia’s second-largest oil and gas producer, cut its full-year output forecast as much as 10 percent, citing asset sales and reduced production at some fields.

Production may be between the equivalent of 70 million to 71 million barrels of oil this year, Woodside said in a statement to the Australian Stock Exchange today. The Perth- based company forecast output of 72 million to 78 million barrels in August.

Woodside, 34 percent owned by Royal Dutch Shell Plc, has failed to meet output targets set two years ago as projects in Australia, Africa and the U.S. were delayed or produced less than forecast. The company, which had projected 2007 output to reach 90 million barrels, last month agreed to sell interests in Mauritania to invest in better-performing fields. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Financial Times: Battle lines drawn over the Falklands – again

By Dino Mahtani and Ed Crooks
Published: October 18 2007 03:00 | Last updated: October 18 2007 03:00

Jorge Luís Borges likened the war over the Falkland Islands, fought between Britain and Argentina in the 1980s, to “a fight between two bald men over a comb”.

But the $10m (£4.9bn) purchase this month by BHP Billiton, one of the biggest natural resources companies, of a large stake in some Falklands oil exploration licences raises a slight chance the Argentine writer could be wrong.

Argentina, still claiming sovereignty, immediately disputed the deal’s legitimacy – the latest sign of a government asserting rights over remote territories with any scent of oil. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Financial Times: Lex Column: UK oil consolidation

Published: October 18 2007 03:00 | Last updated: October 18 2007 03:00

In today’s hair-trigger markets, it doesn’t take much to set off a turkey shoot. Last week’s move by Eni for Burren Energy, the UK-based oil company, has reactivated merger talk among mid-cap exploration and production (E&P) specialists. Rumoured targets Cairn Energy, Dana Petroleum, Tullow and Premier Oil have all gained between 5 and 10 per cent since then. As oil hit record prices, the chatter spilled into large caps, with BG buoyed by talk of a bid. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Wall Street Journal: Chevron Pitch: Climate Is Its Concern, Too

WSJ image Chevron Advert still

A still from a TV spot in Chevron’s new ‘Human Energy’ ad campaign.

New Campaign Aims
To Portray Oil Major
As Part of the Solution
By GUY CHAZAN
October 18, 2007; Page B7

Chevron is spending millions of dollars trying to reshape its image as an energy company that cares about climate change just as much as ordinary folk do.

“Imagine that — an oil company as part of the solution,” intones a TV spot in a new global advertising campaign, the biggest Chevron has ever run. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Times: Seven sacked in Max Petroleum scandal

October 18, 2007
Steve Hawkes

Max Petroleum, the London-listed oil explorer, said yesterday that it had dismissed its chief executive, chief operating officer and five other staff over a share option scandal.

The company, which owns four lucrative licences in Kazakhstan, said a month-long investigation had confirmed that all seven had broken company rules. Steve Kappelle, the chief executive, and Ole Udsen, the chief operating officer, were suspended last month when the company first brought in Barlow, Lyde and Gilbert, the international law firm. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Times: Life at the deep end

Times Online image

Banish any thoughts you had about the North Sea oil industry being slowly run down. There’s a full career’s worth of work out there

October 18, 2007
By Steve Smethurst

“Whatever you do,” Hugh Williams says, “don’t choose a photograph of someone covered in oil on a drill platform – that’s the image we’re trying to get away from.”

Williams, chief executive of the International Marine Contractors Association (IMCA), which represents more than 400 offshore marine and underwater engineering companies worldwide, is trying to attract more people to the industry. The IMCA estimates that more than 40 floating drilling rigs will be commissioned over the next two years, creating 5,000 additional jobs. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Times: Time is of the essence for a would-be giant

After heady growth in recent years, the economy of Kazakhstan is at a tipping point

October 18, 2007
James Rossiter

Last week President Nazarbayev invited business leaders to the new capital, Astana, to celebrate the first ten years of his vision of transforming the country into one of the world’s leading economies. Among Kazakhstan’s business leaders, the joke was that the pace of change was so fast that the Government will hit its target by “half past eight” – 2030 on the 24-hour clock. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Times: Black gold feeds a taste for consumerism

The new business capitals: Almaty. Kazakhstan’s new-found oil wealth has made expensive cars a common sight in the city

October 18, 2007
By James Rossiter

Almaty is a city in a hurry. Today it serves as Kazakhstan’s financial centre, but the country’s President and his government have grand plans to transform it into the financial capital for the whole of central Asia – making it the largest trading hub between Dubai and Shanghai.

The city is already building its own Regional Financial Centre Almaty (RFCA), complete with stock exchange linked to the London Stock Exchange, to help to achieve its aim. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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