Posts on ‘November 28th, 2007’

Wednesday, 28 November 2007 Safety is on� a “knife-edge” in some parts of the North Sea oil industry, MPs have been warned. The message from the Health and Safety Executive (HSE) came after two platform fires north east of the Shetland. HSE chief Geoffrey Podger said prosecutions would be considered as part of the investigations, [...]

By John Marone, Kyiv Post Staff Writer Nov 29 2007, 00:21 � Energy giant Royal Dutch Shell has pulled out of a $410 million preliminary agreement to buy a majority stake in the Ukrainian assets of a small, controversial energy company. Shell was the first multinational to get a foothold on the Ukrainian hydrocarbons market [...]

November 29, 2007 Carl Mortished, World Business Editor Brazil reaped a billion-dollar harvest yesterday with a frantic sale of oil and gas exploration concessions, despite a boycott of the auction by the major multinationals. The first sale of exploration acreage by Brazil since the discovery of the Tupi field excited keen interest, generating bids worth [...]

Shell confidential reserves fraud discovery documents published on 28 November 2007� Exhibit 132: SPDC Restatement 1998-2002: Confidential (9 pages) http://www.shellnews.net/classactiondocs/ex132_419_7.pdf Exhibit 133: Note for Discussion: Group Investor Relations: Strategy and Plan to 2004: Every page marked “Confidential” (20 pages) http://www.shellnews.net/classactiondocs/ex133_419_8.pdf Exhibit 134: 2002 Executive Summary: Most Confidential: Signed by Walter van de Vivjer (12 pages) [...]

November 28 2007: 11:06 AM EST Love it or hate it, argues David O’Reilly in an interview with Fortune’s Geoff Colvin, the world is going to run on oil for several more decades. By Geoff Colvin, Fortune senior editor-at-large (Fortune Magazine) — Oil companies are blamed (unjustly) for high gas prices, loathed for profiting from [...]

EXTRACT: The recent experience of Royal Dutch Shell in being pressured out of a key oil and gas project it had pioneered in Sakhalin has had a dampening effect on foreign investment in other energy infrastructure projects and akin areas essential to broad scale development. THE ARTICLE By George H. Wittman Published 11/28/2007 12:07:35 AM [...]

By DAVID WINNING and RENYA PENG November 28, 2007 Chinese offshore-oil producer Cnooc Ltd. wants to buy assets in the prolific oil-producing region of the Caspian Sea but isn’t interested in Russia because the risks are too high, a senior company official said. Yang Hua, chief financial officer, added the Caspian Sea to a list [...]

By Grant Smith and Alexander Kwiatkowski Nov. 28 (Bloomberg) — Crude oil rose in New York trading as OPEC ministers countered reports the group is planning to raise production at a meeting next week. The Organization of Petroleum Exporting Countries currently has no plan to raise oil output when it meets next week in Abu [...]

By Julie Ziegler Nov. 28 (Bloomberg) — African Petroleum Plc, Nigeria’s largest fuel retailer, is competing with China’s Cnooc Ltd. to buy Royal Dutch Shell Plc’s stake in two offshore oil exploration licenses, two people with knowledge of the situation said. A sale may be worth as much as $1 billion, said Sebastian Spio- Garbrah, [...]

Wed Nov 28, 2007 11:04 AM GMT OSLO, Nov 28 (Reuters) – Royal Dutch Shell (RDSa.L: Quote, Profile , Research) will take over as operator of the Ormen Lange gas field in the Norwegian Sea on Dec. 1, development phase operator StatoilHydro (STL.OL: Quote, Profile , Research) said on Wednesday. Ormen Lange, on stream from [...]

Wednesday, 28 November 2007, 09:57 GMT A union leader has called for urgent action to address offshore safety amid fears that somebody could be killed. An investigation has been launched into a fire which broke out on Shell’s North Cormorant on Tuesday. It followed a serious fire on the Thistle Alpha on Sunday. Both platforms [...]

Bakersfield Californian: Shell Oil restarts cleanup of site BY STACEY SHEPARD, Californian staff writer e-mail: sshepard@bakersfield.com | Tuesday, Nov 27 2007 9:55 PM Last Updated: Tuesday, Nov 27 2007 10:00 PM Shell Oil has restarted a system to clean up pollution beneath the Rosedale Highway refinery that environmental regulators say was shut down more than [...]

FRANK URQUHART � A “VERY small” fire broke out on Shell’s North Cormorant rig north-east of the Shetland islands early yesterday. The blaze came just three days after a major fire on Lundin Petroleum’s Thistle Alpha installation. The Shell fire was contained within a turbine hood on a water injection pump on the oil giant’s [...]

08:50 – 28 November 2007 Health and safety bosses will be challenged in the Commons today over the state of offshore fire safety systems following two fires within three days. The second fire, which broke out early yesterday on Shell’s North Cormorant platform, 109 miles north-east of Shetland, was contained quickly by the fire protection [...]

� By Hans Stege About 24 hours after announcing a preliminary deal worth $410 million with UK-based oil firm Regal Petroleum, Shell pulled out of the agreement citing Regal�s surprise management shift. David Greer, the former head of Shell�s Sakhalin-II project, was tapped to replace Regal�s chief executive and chairman, both of whom resigned after [...]