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Posts on ‘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 [...]

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 [...]

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 [...]

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 – [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

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, [...]

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

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 [...]

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 [...]

The Times: Life at the deep end

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 [...]

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 [...]