Posts on ‘November 3rd, 2007’

King Abdullah of Saudi Arabia. The soaring oil price was the perfect way to remind the West of his country’s importance 4 November 2007 As the price of crude hits new highs, Sylvia Pfeifer looks behind the scenes to discover where the market will end up once the speculative froth has washed away Some of [...]

With crude prices at a high, investors are starting to take notice of this booming region November 4, 2007 Clare Francis THE oil price powered to new highs last week, hitting $96 a barrel on Thursday, and many analysts believe it could breach the $100 barrier this week. However, now may not be the best [...]

04.11.2007 THE multibillion-dollar OKLNG project has been described as a strategic investment that will enable the country to monetize its gas, reduce flaring and make gas contribute to the national income, Mr. Basil Omiyi, Managing Director/Country Chairman of Shell Companies in Nigeria, SCiN, stated this in Abeokuta, Wednesday October 30, during a courtesy call on [...]

3 Nov 2007, 1656 hrs IST, REUTERS   LAGOS: Nigeria plans to stop cash call payments to the five majors pumping the bulk of its oil output and instead wants them to raise money from international finance markets, President Umaru Yar’Adua has said. He did not give a timeframe. Nigeria’s oil industry is currently dependent [...]

By Patrick McGreevy, Los Angeles Times Staff Writer November 3, 2007 SACRAMENTO — An energy company has agreed to pay a $15,000 fine to a state ethics watchdog agency for failing to properly disclose spending $5 million to defeat a ballot measure last year that would have taxed crude-oil production in California, officials said Friday. [...]

By STEVE QUINN ASSOCIATED PRESS WRITER JUNEAU, Alaska — If oil companies want to continue taking Alaska’s oil, state officials say they need to up the ante. In fact, Gov. Sarah Palin wants 25 percent off the top of all profits the companies make in Alaska, up from 22.5 percent and the second hike in [...]

By Damian Reece, City Editor and Robert Winnett Last Updated: 3:07am GMT 03/11/2007 Fears of more turmoil hitting global stock markets grew last night after it emerged that Citigroup, the world’s biggest bank, has called an emergency board meeting for this weekend amid fears of escalating bad debts. The subprime crisis Citigroup is seen as [...]

The Wall Street Journal: Arctic Thaw Defrosts a Sea Treaty By NICK TIMIRAOS November 3, 2007 The Senate moved closer to ratifying a sweeping international treaty that governs every aspect of maritime law, from ocean shipping to deep-sea mining. A 17-4 panel vote sent the Law of the Sea Treaty to the full Senate, where [...]

By ISABEL ORDONEZ November 3, 2007; Page A3 As the last major oil company to post third-quarter earnings, Chevron Corp. echoed the theme of rising crude prices biting into profits as refining margins fall. Chevron, the second-largest U.S. oil company by stock-market value, said profit fell 26% in the quarter as it was unable to [...]

By THE ASSOCIATED PRESS Published: November 3, 2007 Filed at 2:06 a.m. ET SAN RAMON, Calif. (AP) — Chevron Corp. third-quarter profit slid 26 percent, the steepest decline in five years as the energy market’s unpredictable pendulum swung against the second-largest U.S. oil company and most of its peers. The San Ramon-based company said Friday [...]

By Pat Boyle Saturday November 03 2007 Shell E&P Ireland, the operator of the Corrib gas development project has announced its intention to start exploration drilling in the Rockall basin in the first half of 2008. The Rockall basin lies approximately 130km north west of the Donegal coast and as it lies within Irish territorial [...]

Web posted at: 11/3/2007 7:44:18 Source ::: Reuters ABUJA • Royal Dutch Shell is preparing for tough talks with Nigeria in a review of multi-billion dollar offshore oil contracts, a top executive told said yesterday. The government of President Umaru Yar’Adua has put its largest investors on notice that it wants a greater share of [...]