Posts on ‘January 14th, 2008’

Tuesday, 15 January 2008  GAZPROM will find it hard to become a major player in Nigeria, making it unlikely that the Russian gas giant will rival Western oil companies’ dominance there or be able to divert Nigerian gas from European markets.  But if Gazprom redirected cash to foreign investment, gas supplies to Europe could be [...]

By Leslie Crawford in Madrid Published: January 15 2008 01:12 | Last updated: January 15 2008 01:12 The European Union has wasted too much time squabbling over how to share power among its member states, when it should have been working to recoup economic and political influence in the world, says Felipe González, the former [...]

15 January 2008 SINGAPORE (Reuters) – Oil was steady on Tuesday after new supply disruptions in Nigeria and renewed geopolitical concerns about Iran rekindled supply worries, offsetting growing talk of a U.S. recession that would hurt oil demand. U.S. light crude for February delivery rose 5 cents to $94.25 a barrel by 8:52 p.m. EST [...]

Company Won’t Be The Sole Operator With Deal on Project By GUY CHAZAN and GABRIEL KAHN January 15, 2008 Energy company Eni SpA of Italy will cede its role as sole operator of the huge Kashagan oil field in the Caspian Sea as part of a deal to end a long-running dispute with Kazakhstan over [...]

The Wall Street Journal: Exxon Knows When to Fold COMMENT FROM breakingviews  Lone Holdout Gives Approval To Save Deal With Kazakhs Over Kashagan Oil Field January 15, 2008 Exxon Mobil finally blinked in its showdown with Kazakhstan over the Kashagan oil field. Exxon was the last of the deal’s partners to accept the less-advantageous contract [...]

By JOHN FLOWERS January 14, 2008 2:19 p.m. The battle between oil exploration and its inevitable environmental impact is coming to loggerheads in the Great White North, as proceedings in a federal court in Alberta begin tomorrow to determine whether a new oil sands field met critical environment requirements. The judicial review, currently scheduled to [...]

Tue Jan 15, 2008 2:29am GMT  By Maryelle Demongeot SINGAPORE, Jan 15 (Reuters) – Oil was steady on Tuesday after new supply disruptions in Nigeria and renewed geopolitical concerns about Iran rekindled supply worries, offsetting growing talk of a U.S. recession that would hurt oil demand. U.S. light crude for February delivery CLc1 rose 5 [...]

By Ed Crooks and Isabel Gorst Published: January 15 2008 02:00 | Last updated: January 15 2008 02:00 Financially, the deal to resolve the dispute over the giant Kashagan oilfield could have been worse for the companies involved. The most serious damage has been done to corporate reputations. The deal struck late on Sunday was, [...]

Published: January 15 2008 02:00 | Last updated: January 15 2008 02:00 It can be hard to pick out the loser when both sides emerge from a dispute wreathed in smiles and claiming victory. But in the resolution to the set-to over the giant Kashagan oilfield in Kazakhstan, there really is something for everyone. The [...]

By Isabel Gorst in Baku and Ed Crooks in London Published: January 15 2008 02:00 | Last updated: January 15 2008 02:00 Eni, the Italian oil company, is to lose operating control of the giant Kashagan oilfield, the crown jewel of its upstream portfolio, as Kazakhstan asserts greater control over the troubled oil development. The [...]

MARK WILLIAMSON January 15 2008 Shell and ExxonMobil started pumping gas from the Starling field in the North Sea following a £175m development which, they said, showed they were prepared to invest in the right projects in the mature province. The two oil majors, which last June announced plans to sell off a portfolio of [...]

By Russell Hotten, Industry Editor Last Updated: 12:29am GMT 15/01/2008 A group of Western energy majors has been forced to cede some control of the massive Kashagan oil field under a deal that resolves a long-running dispute with the Kazakhstan government. Italy’s ENI, which leads a consortium that includes Royal Dutch Shell, ExxonMobil and Total, [...]

Tuesday, January 15, 2008. Issue 3820. Page 5. By Tai Adelaja Staff Writer Russian and foreign companies whose activities are deemed by the authorities to pose serious environmental threats will see no relief this year despite the resignation of the federal environmental watchdog’s chief, a senior official said Monday. Oleg Mitvol, deputy to the outgoing [...]

Shell factors environmental fines into its costs to continue polluting, according to environmentalists. January 14, 2008 Reporting by Roddy Scheer The Sierra Club, the nation’s largest and oldest environmental group, filed suit in federal court last week against Shell Oil over ongoing pollution at a refining and chemical plant complex along the Houston Ship Channel [...]

Mon Jan 14, 2008 12:16pm EST LONDON, Jan 14 (Reuters) – Royal Dutch Shell (RDSa.L: Quote, Profile, Research) has declared a force majeure on crude shipments from its Forcados export terminal in Nigeria after last week’s pipeline attack, a spokesman said on Monday. Exports have been halted since Friday due to sabotage at two of [...]