Posts on ‘January 22nd, 2008’

Thu 22 January, 2004 10:29 DAVOS, Switzerland (Reuters) – Royal Dutch/Shell boss Phil Watts, facing shareholder wrath after the company’s downgrade of its oil and gas reserves, has cancelled an appearance at the World Economic Forum. “He’s not coming,” said a Shell spokesman in the Swiss ski resort of Davos on Thursday. “You will understand [...]

BP is one of the few companies still offering a final salary scheme Tuesday, 22 January 2008, 17:27 GMT  Oil giant BP is the latest major company to announce it will make no contributions to its pension fund during 2008. BP said the move followed its most recent annual valuation, which revealed that its pension [...]

22 January 2008 14:35 Pension holidays could be making a comeback, following reports that BP is to take a break from paying into its scheme. The oil giant has followed in the steps of rival Shell and is taking a one-year contribution holiday from its £14.7bn pension scheme after a valuation last year revealed it [...]

Jan 22 2008 By Nicky Burridge A record £15 billion was wiped off the value of the UK’s biggest pension schemes on Monday as global stock markets dived, figures showed today. The fall was the biggest loss recorded in a single day since the accounting standard FRS17 was first introduced in June 2001, according to [...]

Tue Jan 22, 2008 5:09pm GMT MOSCOW, Jan 22 (Reuters) – Russian Prime Minister Viktor Zubkov on Tuesday appointed a long-time ally to head the country’s top environmental watchdog, ignoring calls by Greenpeace to clarify his record. The government said Vladimir Kirillov had been appointed to head the agency, Rosprirodnadzor, which is part of the [...]

Wednesday January 23, 2008 It is difficult to separate fact from green marketing fiction, writes Steve Dow. It is not easy washing green, or drying for that matter. Consider the LG combined steam washer and dryer promoted with full-page advertisements in glossy magazines that promise water savings if you install and use this $2900 product. [...]

January 22, 2008 One hour after the Fed announced an emergency 75bp rate cut and markets appear to be unconvinced that it is enough. Investors are still selling again in the US and after a brief recovery on the RTS, the Russian market also gave up all its gains and fell back to 1960, which [...]

AP: Fed Cuts Interest Rate Tuesday January 22, 8:47 am ET By Martin Crutsinger, AP Economics Writer  Fed Cuts Interest Rate Amid Global Stock Sell-Off and Fears of Recession WASHINGTON (AP) — The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, cut a key interest rate by three-quarters [...]

By Ed Crooks and Norma Cohen Published: January 22 2008 02:00 | Last updated: January 22 2008 02:00 BP is to take a break from contributing to its UK pension funds for at least a year, in a move that will save it about £250m in 2008. Its decision came as PwC, the advisory firm, [...]

Tue Jan 22, 2008 6:55am EST  AMSTERDAM, Jan 22 (Reuters) – Royal Dutch Shell has planned turnarounds for its 412,000 barrels-per-day Dutch Pernis refinery around April-May and in September 2008, an industry source said on Tuesday. The source said the refinery, Europe’s biggest, planned to shut one unit in the spring and one unit in [...]

By Matthew Green in Lagos Published: January 22 2008 02:00 | Last updated: January 22 2008 02:00 Nigeria has warned energy companies it wants to complete its planned renegotiation of contracts covering offshore oilfields in the next three months, saying record prices mean western groups are having “a ball”. It is the first time Nigeria [...]

But refining margins to temper results, some say By KRISTEN HAYS Copyright 2008 Houston Chronicle Oil at $100 a barrel came and went in a flash. But crude prices that hovered at or above $90 through most of the last three months of 2007 are expected to mean pumped-up quarterly profits as the largest oil [...]

· Charles appears via hologram in Abu Dhabi · Emirate plans to lead way in funding research John Vidal in Abu Dhabi The Guardian, Tuesday January 22 2008 In the many years in which the Prince of Wales has attended official functions he has never appeared quite like this. At the alternative energy conference in [...]

Tue Jan 22, 2008 8:40am GMT  (Adds nuclear plans, background) By Simon Webb ABU DHABI, Jan 22 (Reuters) – France’s Total (TOTF.PA: Quote, Profile, Research) said on Tuesday it was facing “huge cost issues” on a major liquefied natural gas project in Iran and was reviewing plans with the Iranian government. “We are restudying the [...]

Analysts fear that weakness in US economy could potentially drop energy demands.   SINGAPORE – World oil prices continued lower in Asia Tuesday on deepening worries about a potential drop in energy demand owing to weakness in the US economy, analysts said. In afternoon trade, New York’s main contract, light sweet crude for February delivery, [...]