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Posts on ‘November 1st, 2007’

Shell Executives hoodwinked New York financial analysts

By John Donovan Secret documents published for the first time on the open Internet reveal that a top Executive of the Royal Dutch Shell Group gave blatantly false information when questioned by financial analysts in a presentation in New York. On Friday, February 7, 2003, Sir Philip Watts, the then Group Chairman of the Royal […]

No need to scream

The Business: Wednesday, 31st October 2007 No need to scream By Philip Thornton Like a precocious child seeing how long it can hold its breath, the world economy has remained defiantly indifferent to the relentless rise in the price of oil. Hardly a day goes by without West Texas Intermediate, the light crude that is […]

PUBLISHED HERE: THE HIGHLY CONFIDENTIAL DAVIS POLK & WARDWELL REPORT TO THE SHELL GROUP AUDIT COMMITTEE

PUBLISHED HERE: THE “HIGHLY CONFIDENTIAL” 202 PAGE DAVIS POLK & WARDWELL REPORT TO THE SHELL GROUP AUDIT COMMITTEE (Now searchable) go to… http://www.shellnews.net/classactiondocs/Binder1_405-6_OCR.PDF Please be patient as there are 202 confidential pages to download

Shell confidential documents published here on 1 November 2007: updated with more confidential documents

Shell Confidential: Guide for the Administration of proved Reserves and Production for External Disclosure http://www.shellnews.net/classactiondocs/423_7_pdf.pdf Email Correspondence on 22 Aug 2000 between Heinz Rothermund and Phil Watts http://www.shellnews.net/classactiondocs/423_3_pdf.pdf Confidential Minutes of EPA Region Reserves Challenge Session, 19 Nov 2003 http://www.shellnews.net/classactiondocs/423_4_pdf.pdf MARKED CONFIDENTIAL: From Anton Barendregt, Group Reserves Auditor, circulated 6 Dec 2002 to Frank Coopman […]

Bloomberg: Exxon Mobil Profit Drops as Refining Margins Narrow (Update3)

By Joe Carroll Nov. 1 (Bloomberg) — Exxon Mobil Corp., the world’s largest oil company, posted its biggest drop in quarterly profit in more than three years after equipment and power failures slowed gasoline output and refining margins narrowed. Third-quarter net income fell to $9.41 billion, or $1.70 a share, from $10.5 billion, or $1.77, […]

Reuters: Oil eases after hitting record above $96

updated 9:35 a.m. ET Nov. 1, 2007 By Peg Mackey LONDON (Reuters) – Oil eased on Thursday after earlier striking a record high beyond $96 a barrel following a sharp decline in U.S. crude stocks that stoked supply concerns and the U.S. Federal Reserve’s interest rate cut. U.S. crude closed in on an inflation-adjusted high […]

Daily Telegraph: If a chap has feelings towards his bicycle, what’s the problem?

Jan Moir Why has Robert Stewart been put on the sex offenders’ list for having sex with a bicycle? Can’t a person have sex with the inanimate object of his choice, without it coming to the attention of the police? Mr Stewart was discovered having sexual relations with a consenting bicycle (but without onions) in […]

Bloomberg: Yemen’s Offshore Fields May Triple Its Oil Reserves, Bahah Says

By Ayesha Daya and Glen Carey Nov. 1 (Bloomberg) — Yemen, the smallest oil producer in the Persian Gulf, could triple its hydrocarbons reserves by developing its offshore oil fields with help from international companies, the country’s oil minister said. “We have 10 billion barrels of oil in place based on the areas currently in […]

UpstreamOnline: ‘Two dead’ in Nigerian offshore clash

By Upstream staff At least two people have been reported killed in a clash between Nigerian forces and suspected militants near a Shell field off the country’s Niger Delta. The night-time incident apparently occurred when armed militants in speedboats ran into a Nigerian navy patrol assigned to protect the field. The clash comes just hours […]

UpstreamOnline: Crude shatters $96 barrier

By Upstream staff Oil leaped more than 1% today, briefly topping $96 for the first time and extending the previous day’s 5% jump after an unexpected sharp fall in US crude stocks and data showing strong economic growth. The rise toward oil’s inflation-adjusted peak of $101.70 from April 1980 was also supported by US dollar […]

The Wall Street Journal: As Oil Price Sets New High, Stress Hits Developing Nations

Fuel Shortages, Unrest Spur Beijing to Act; Market Turning Point? By SHAI OSTER in Beijing, PATRICK BARTA in Bangkok and RUSSELL GOLD in Austin, Texas November 1, 2007; Page A1 One of the biggest forces behind the near-quadrupling of oil prices this decade has been voracious fuel demand in China and other developing nations. But […]

The Wall Street Journal U.S. Effort to Tap Oil Profits Suffers Blow

Anadarko Prevails In Motion to Protect Royalty-Relief Pact By JOHN M. BIERS and IAN TALLEY November 1, 2007; Page A12 A federal court sided with Anadarko Petroleum Corp. in a closely watched case on oil and natural-gas royalties, a development that could help the energy industry resist government efforts to revamp lucrative production agreements in […]

Financial Times: ‘Oil and Money’ discusses the limits to oil production

Posted by Ed Crooks on October 31, 2007 in Peak Oil Peak oil – the prospect that global oil production is close to or even past its peak – turned out to be the dominant theme of the first day of the 2007 Oil & Money conference in London. With prices close to $90 a […]

Financial Times: Fuel retailers warn cap threatens 80,000 jobs

By Joe Leahy in Mumbai Published: November 1 2007 02:00 | Last updated: November 1 2007 02:00 For a direct illustration of the cost of fuel subsidies in India, one need only look at the disaster that has befallen private sector petrol pump operators in the country. In August, frustrated by the government’s pricing policies, […]