Posts on ‘October 26th, 2007’

Acacia Research in Settlement With Shell Oil on Credit Card Patent Dispute; Terms Undisclosed October 26, 2007: 10:42 AM EST NEW YORK (Associated Press) – Acacia Research Corp., which develops, licenses and acquires patented technologies, said Friday it agreed to settle a patent dispute with Shell Oil Co. regarding credit card fraud protection technology. Shell [...]

Price Hits Record Close; U.S. Tightens Sanctions By Steven Mufson Washington Post Staff Writer Friday, October 26, 2007; A01 A U.S. military strike against Iran would have dire consequences in petroleum markets, say a variety of oil industry experts, many of whom think the prospect of pandemonium in those markets makes U.S. military action unlikely [...]

17:49 | 26/ 10/ 2007� MOSCOW, October 26 (RIA Novosti) — Sakhalin Energy, operator of the Sakhalin II oil and gas project off Russia’s Pacific Coast, said Friday it would rectify violations, identified by Russia’s environmental watchdog, within a year. Sakhalin Energy CEO Ian Craig said at a meeting with Russian Natural Resources Minister Yury [...]

By ELIZABETH A. KENNEDY — Associated Press Writer Published: Friday, October 26, 2007 LAGOS, Nigeria (AP) Gunmen in speedboats attacked an oil vessel off the coast of Nigeria at dawn Friday and kidnapped six workers, Italian energy giant Eni SpA said. The Polish, Filipino and Nigerian workers were taken off the FPSO Mystras, Eni said [...]

BARRY MORGAN, Nairobi Seven workers kidnapped on Sunday from support vessels working near Shell’s Amatu facility near the EA field off Bayelsa state in Nigeria have been freed. The hostages citizens of the US, Russia and Croatia were working for sub-contractors Hydrodive and Interoil. They were handed over unharmed to Bayelsa State Governor Timipre Sylva-Sam [...]

RUSSELL SEARANCKE, Wellington Shell’s multi-billion dollar Gumusut-Kakap deep-water oil project in Malaysia is facing delays while project partners deal with weight issues on the topsides. The topsides of the semi-submersible production platform have been designed far too heavy for the supporting hull, according to well-placed sources. Some suggested the deck is 3000 tonnes overweight. The [...]

By Upstream staff Environmental concerns dogging the Sakhalin 2 development, in Russia’s far east, will be resolved next year, Sakhalin Energy management told Russian resources officials today. The two sides met after the Gazprom-led project came under fire from the Russian government for what it claimed were continued environmental violations. “I am pleased with your [...]

By Upstream staff Shell will take political issues into account when deciding whether to go ahead with the Persian liquefied natural gas project Iran, chief financial officer Peter Voser said today. The Anglo-Dutch supermajor and Spain’s Repsol YPF have signed a preliminary deal to develop phases 13 and 14 of Iran’s South Pars gas field, [...]

Graeme Wearden Friday October 26, 2007 Renewed fears over relations between the US and Iran helped to push the oil price to a new all-time high this morning. The price of a barrel of oil for December delivery reached $92.01 a barrel. Traders said the economic sanctions announced yesterday by US secretary of state Condoleeza [...]

By Alexander Kwiatkowski and Angela Macdonald-Smith �Oct. 26 (Bloomberg) — Crude oil rose above $92 a barrel for the first time in New York after the U.S. accused the Iranian military of supporting terrorism and stepped up pressure on foreign companies to cut ties with the Middle East oil producer. Oil was also pushed higher [...]

The new report shows that after they reach their peak around the year 3000 humans will begin to regress By NIALL FIRTH � The human race will one day split into two separate species, an attractive, intelligent ruling elite and an underclass of dim-witted, ugly goblin-like creatures, according to a top scientist. 100,000 years into [...]

By Dino Mahtani Published: October 25 2007 21:00 | Last updated: October 26 2007 06:45 Shell�s drop in third-quarter profits follows a trend seen elsewhere in the global oil and gas industry. In spite of record oil prices, the major multinationals are struggling to book growth in profits, taking hits in their refining divisions or [...]

By Dino Mahtani in London Published: October 26 2007 03:00 | Last updated: October 26 2007 03:00 Royal Dutch Shell, Europe’s biggest oil company, warned that record high oil prices were being driven by speculation and political tension, not a lack of supply. The comments by Peter Voser, chief financial officer, came as the group [...]

By Javier Blas in London Published: October 26 2007 07:49 | Last updated: October 26 2007 07:49 Crude oil prices on Friday breached $92 a barrel to hit a fresh all-time high, driven by low inventories ahead of the winter peak season, fresh geopolitical tension between the US and Iran and the weakness of the [...]

By JULIA WERDIGIER and STEPHEN LABATON Published: October 26, 2007 LONDON, Oct. 25 � The chief executive of BP, Tony Hayward, presented himself when he took over in May as a leader who could move the company away from its troubled recent past. On Thursday, Mr. Hayward and BP took a big step forward in [...]