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Posts from ‘February, 2008’

The Daily Journal (Kankakee, Illinois): Shell gasoline spill settlement reached

02/29/2008, 10:46 am The final settlement hearing for the class action lawsuit over Shell Oil’s 1988 gasoline spill in Limestone Township was held Thursday in Kankakee County Circuit Court, but details of the settlement order have yet to be worked out. The settlement will total at least $26 million and involves 1,384 claims for property […]

The Guardian: UK gas pipe still shut Friday as cold snap nears

Reuters Friday February 29 2008 (Recasts, adds detail) LONDON, Feb 29 (Reuters) – How long a key British gas supply pipeline will remain closed after an import terminal fire was unclear on Friday as checks on the extent of the damage lasted into the weekend, with freezing weather forecast for next week. One of two […]

Financial Times: Gold and oil rise to hit record highs

By Chris Flood Published: February 29 2008 02:00 | Last updated: February 29 2008 02:00 Gold and oil both achieved record levels for a second consecutive session yesterday while wheat markets saw further volatility after news of a commodities trader at MF Global who substantially exceeded his authorised trading limits. The dollar’s weakness has been […]

Bloomberg: U.K. Gas Retreats as Supplies Are Unaffected by Fire (Update2)

By Ben Farey and Alexander Kwiatkowski Feb. 29 (Bloomberg) — U.K. natural gas prices retreated from near two-year highs after Royal Dutch Shell Plc said supplies were adequate after a fire yesterday at its Bacton gas terminal in England cut flows from the North Sea. Natural gas for delivery a week ahead reached its highest […]

Comment on the Bacton Explosion received from a Shell insider…

29 February 2008 The Bacton explosion was at the “water” end says the plant Manager!!  All the safety systems worked and there were no injuries!!  Waste water treatment facilities and equipment are classified as hydrocarbon as if something goes wrong a lot of volatile hydrocarbons arrive on the scene very quickly, but the equipment is […]

Dominican Today: Shell’s representative arrives, Dominican Refinery deal heats up

Rafael Maradiaga arrived in Las Americas yesterday. February 2008, 8:24 AM SANTO DOMINGO. – Dominican Republic took the first step to buy 50 percent of the shares in the Petroleum Refinery (Refidomsa) from the multinational Shell, whose representative in the country, Rafael Maradiaga, arrived in the Las Americas International Airport yesterday afternoon, though declined to […] Shell says UK gas supply unaffected by Bacton terminal shutdown

February 29, 2008: 05:53 AM EST LONDON, Feb. 29, 2008 (Thomson Financial delivered by Newstex) — Royal Dutch Shell PLC (NYSE:RDS A) said gas supply in Britain is unaffected by the shutdown of the Bacton gas terminal on the Norfolk coast following a fire at the site on Thursday. No one was injured during the […]

Honolulu Advertiser: Senate should clear green-energy package

Posted on: Friday, February 29, 2008 The U.S. House took a bold step this week to change America’s oil-dependent course toward the more sensible path of renewable energy. Lawmakers voted to eliminate lucrative tax breaks for big oil companies and use that savings for extending smart tax credits and incentives to encourage energy production from […]

AFP: Shell says oil pumping again at sabotaged Nigerian terminal

29 Feb 2008 10:52 GMT LAGOS (AFP) – Anglo-Dutch group Shell said oil was pumping again Friday at its Bonny Island terminal in southern Nigeria after repairs following a sabotage attack.   “We have resumed oil lifting at Bonny following a successful repair of the burst pipeline accounting for a daily production of some 130,000 […] Venezuela: The spectre of Big Oil

Paul Kellog 29 February 2008 “Never again will they rob us — the ExxonMobil bandits. They are imperial, American bandits, white-collared thieves. They turn governments corrupt, they oust governments. They supported the invasion of Iraq.” This was the response from Venezuelan President Hugo Chavez to the successful lawsuit by the world’s biggest corporation (ExxonMobil), freezing […]

The Times-Picayune: Chevron donating millions to LSU

Most of gift will go to faculty endowments Friday, February 29, 2008 By Bill Barrow BATON ROUGE — Chevron Corp. has pledged $4.75 million to LSU in what school officials Thursday said is the largest corporate contribution ever for the state’s flagship university. Most of the gift, $3.9 million, is earmarked for the College of […]

Houston Chronicle: Notable absences at energy summit don’t bode well

Feb. 29, 2008, 12:13AM COMMENTARY By LOREN STEFFY Copyright 2008 Houston Chronicle The topic wasn’t on the agenda, and it wasn’t discussed on any of the panels. But in the convention center hallways and around the luncheon tables, everyone was asking the same thing: Why aren’t they here? “They” are the presidential candidates, only one […]

Bloomberg: Oil Rises to a Record as Dollar Drops; OPEC May Maintain Output

By Nesa Subrahmaniyan and Megumi Yamanaka Feb. 29 (Bloomberg) — Crude oil climbed to a record for a fourth day as a weakening U.S. dollar and global stock market declines increased the appeal of commodities for investors. Oil also rose after a crude export pipeline broke in Ecuador because of a mudslide and fire shut […]

THE WALL STREET JOURNAL: Oil-Price Rise Poses OPEC Conundrum

By NEIL KING JR. in Washington and GUY CHAZAN in London February 29, 2008; Page A3 Oil prices finished at a new high for the second time this week, bolstering the likelihood that OPEC will sit on its hands at next week’s meeting in Vienna. The Organization of Petroleum Exporting Countries, which supplies about 40% […]

Financial Times: Iranian official reports record oil revenues

By Najmeh Bozorgmehr in Tehran Published: February 28 2008 16:15 | Last updated: February 28 2008 16:15 Iran’s oil revenues reached a record $62bn for the first 11 months of this Iranian year – an increase of 31 per cent over the same period the previous year, according to a senior Iranian oil official. Hojjatollah […]

The Times: Crude oil price hits new high of $102.59 a barrel

February 29, 2008 Suzy Jagger in New York The price of oil shot to a new high last night as Wall Street traders bought fuel contracts to offset the falling value of the dollar. Energy traders were also unnerved by a fire at Shell’s Bacton gas terminal in Norfolk, which threatened more than 45 million […]

Eastern Daily Press: Bacton explosion probe begins

Smoke rises above the Bacton gas terminal. Picture: EDP reader Anna Hollis.  29 February 2008 05:45 Neighbours of Norfolk’s giant gas terminal are today pondering how close they came to disaster after a blast rocked the seaside complex. Villagers in Bacton are used to living in the shadow of the site’s mass of pipes, pumps, […]

The Guardian: Oil prices jump after fire at gas terminal

· Explosion at Norfolk plant importing 13% of supplies · ‘Major incident’, but no reports of casualties Martin Hodgson and Dan Milmo , Friday February 29 2008 Emergency teams were last night fighting a big fire at one of Britain’s largest gas terminals, which sent more jitters through energy markets. The blaze is believed to […]

Daily Mirror: Blaze at huge gas terminal

29/02/2008 Fire crews last night fought a blaze at one of the largest gas terminal complexes in the UK. The fire in a treatment plant at the Shell base in Bacton, Norfolk, broke out shortly before 6pm. It took 10 crews from Norfolk Fire Service around two hours to bring it under control. Anna Hollis, […]

Reuters: Oil hits fresh high after Ecuador pipeline rupture

Fri Feb 29, 2008 3:58am GMT  By Luke Pachymuthu SINGAPORE (Reuters) – Oil touched a new high above $103 on Friday after Ecuador shut a key export pipeline and a fire hit a major European natural gas plant, while the U.S. dollar’s fall to a series of lows kept fresh funds flowing in. Prices later […]

Penn Energy: Shell Oil outlines 12-point energy plan

Paula Dittrick Senior Staff Writer HOUSTON, Feb. 28 — Shell Oil Co. Pres. John D. Hofmeister said his company proposes a 12-point energy plan, noting that he believes the last time the US had a “coherent, comprehensive” energy policy was during World War II. Hofmeister, speaking Feb. 27 to Business and Climate Change conference cosponsored […]

Corrib St Patrick’s Day protest at Shell Centre

GLUAISEACHT are mobilising people from all over Ireland to travel to London this St. Patrick’s weekend to “return the pipeline to Shell!” We are bringing a 70ft pipeline to Shell H.Q. on St Patrick’s day to protest against the give away and mismanagement of our natural resources and to show our solidarity with the Shell […]

The Associated Press: Fire breaks out at one of UK’s largest gas terminals

AP – 28.02.2008 19:15 A fire has broken out at one of Britain’s largest gas terminals. Fire officials in Norfolk, a county north-east of London, said on Thursday that crews were dealing with a “very large scale incident”. A number of fire engines have been deployed to the Shell UK-owned Bacton terminal, said a fire […]

East Anglian Daily Times: Massive explosion at gas terminal

28 February 2008 | 19:12   Emergency services were called to reports of an explosion at the Bacton gas terminal on the Norfolk coast this evening. Villagers said they had been told to stay indoors pending further advice. One said she had “felt an earth tremor” and had seen smoke coming from the vicinity of […]

Reuters: Major fire at large gas terminal

Thu Feb 28, 2008 7:23pm GMT  LONDON (Reuters) – Firefighters said on Thursday they were tackling a major fire at the Bacton gas terminal, but that the blaze appeared to be confined to the terminal itself. “We have a very large scale incident ongoing at the moment at the Bacton Gas Shell UK Ltd site […]

Bloomberg: Fire Doused at Shell’s Bacton Gas Terminal in England (Update2)

By Alexander Kwiatkowski and Grant Smith Feb. 28 (Bloomberg) — Firefighters doused a blaze at Royal Dutch Shell Plc’s Bacton terminal in the U.K., which handles gas flowing from the North Sea into Europe’s biggest gas-consuming country. A fire erupted in the water-treatment plant at Shell’s terminal, according to a recorded message by the Norfolk […]

Reuters: Shell finishes Nigeria’s Bonny oil pipeline repair

Thu Feb 28, 2008 12:53pm LONDON, Feb 28 (Reuters) – Royal Dutch Shell said on Thursday that repair works to a pipeline connected to the Bonny Light oil terminal in Nigeira had been completed and oil had started flowing. Early in February, Shell declared force majeure on Bonny Light exports and stopped shipments from the […]

Further ‘Live Chat’ discussion on Shell in Nigeria: updated

By John Donovan A guest on Live Chat has taken issue with the content of my recent article… 26/02/2008  Shell’s atrocious track record in Nigeria The allegations in my article were made by independent reputable sources with verification links provided. The article included a link to a leaked Shell internal report, the contents of which […]

THE NEW YORK TIMES: Cash-Rich, Publicity-Shy, Abu Dhabi Fund Draws Scrutiny (*This is what really scares the top people at Shell)

Charles Crowell/Bloomberg News Abu Dhabi Investment Authority headquarters in the city of Abu Dhabi. By LANDON THOMAS Jr. Published: February 28, 2008 Abu Dhabi has about 9 percent of the world’s oil and 0.02 percent of its population. The result is a surfeit of petrodollars, much of which is funneled into a secretive, government-controlled investment […] Arctic Meltdown: The Economic and Security Implications of Global Warming

Scott G. Borgerson: Scott G. Borgerson From Foreign Affairs, March/April 2008 Summary:  Thanks to global warming, the Arctic icecap is rapidly melting, opening up access to massive natural resources and creating shipping shortcuts that could save billions of dollars a year. But there are currently no clear rules governing this economically and strategically vital region. […]

Houston Chronicle: Bumps on green road come into focus

Conference confronts issues businesses face on environment By TOM FOWLER Copyright 2008 Houston Chronicle The likely regulation of greenhouse gases in the U.S. will bring huge business opportunities, but cleaning the environment won’t be cheap or easy, speakers said Wednesday at a Houston conference. The trading of carbon dioxide pollution credits is already a multibillion-dollar […]

Financial Post: BP hints at second oilsands partnership

Claudia Cattaneo, Financial Post  CALGARY — Former oilsands skeptic BP PLC now seems in a hurry to catch up, signaling on Wednesday that it would forge a second partnership similar to its US$11.7-billion deal with Husky Energy Inc. if the right match came along. After combining its Toledo refinery in Ohio in December with Husky’s […]

Los Angeles Times: BP chief says firm may sell ‘green’ unit

From the Associated Press February 28, 2008 LONDON — Oil giant BP’s chief executive hinted Wednesday that the company might offload part or all of its “green” business unit, reversing a central part of its previous strategy as he seeks to turn the company around. Tony Hayward, giving his first annual presentation to analysts since […]

Bloomberg: ERG Calls Sicily LNG Plant Delays `Unacceptable,’ Sole Reports

By Anthony DiPaola Feb. 28 (Bloomberg) — ERG SpA called delays in government approval for a liquefied natural gas receiving terminal the Italian refiner plans to build in Sicily “unacceptable,” Il Sole 24 Ore reported, citing Chairman Edoardo Garrone. The project has already cost 15 million euros ($22.7 million) and has been awaiting approval for […]

The Independent: BP shrugs off global shortfall fears

By Danny Fortson Thursday, 28 February 2008 Tony Hayward, chief executive of BP, brushed off worries about the world’s dwindling oil supplies yesterday by predicting that the company will be able to pump more than 4 million barrels per day through 2020, even if the oil giant doesn’t make any new discoveries. Speaking at the […]

THE WALL STREET JOURNAL: BP Pledges to Increase Output, Profit

CEO to Take New Look At Green-Energy Arm; Focus on ‘Equity Value’ By GUY CHAZAN February 28, 2008; Page A13 LONDON — BP PLC Chief Executive Tony Hayward pledged to increase the energy titan’s oil production and improve results at its marketing and refining division, and signaled a shift in its renewable-energy business.   Analysts […]

THE WALL STREET JOURNAL: House Votes to Rescind Tax Breaks for Oil Industry

By SIOBHAN HUGHES February 28, 2008; Page A12 WASHINGTON — The House of Representatives voted to repeal $18 billion of tax breaks for oil and gas producers, and to use the savings to finance tax incentives for wind-power projects, solar panels and more energy-efficient cars. The bill, which passed by 236-182, faces long odds amid […]

CNN: House passes $18 billion in new taxes for Big Oil

Gas prices are rising to record highs across the nation. updated 5:25 p.m. EST, Wed February 27, 2008 WASHINGTON (AP) — The House approved $18 billion in new taxes on the largest oil companies Wednesday as Democrats cited record oil prices and rising gasoline costs in a time of economic troubles. The money collected over […]

Financial Times: BP’s strategy

Published: February 28 2008 02:00 | Last updated: February 28 2008 02:00 As BP’s strategy presentation entered its fourth hour yesterday, weary attenders could have been forgiven for letting their minds drift, perhaps back to a similar event five years earlier. Lord Browne, then chief executive, indicated total production would swell by 1m barrels to […]

Financial Times: US data fuel stagflation fears

By Daniel Pimlott in New York Published: February 26 2008 23:18 | Last updated: February 26 2008 23:18 A sharp drop in US consumer confidence, to its lowest level since the beginning of the Iraq war in 2003, and a jump in inflation among producers highlighted the deepening risk of stagflation, figures released on Tuesday […]

The Guardian: Top ten: Biggest company fines by the EU

The biggest individual company fines under EU competition commissioner Neelie Kroes Wednesday February 27 2008 1 Microsoft €899m (software) 2 ThyssenKrupp €479m (lifts) 3 Siemens €396m (engineering) 4 Microsoft €280.5m (software) 5 ENI €272m (synthetic rubber) 6 Otis €225m (lifts) 7 Heineken €219m (beer) 8 Arkema €219m (acrylic glass) 9 Solvay €167m (chemicals) 10 […]

The Guardian: Through biofuels we can reap the fruits of our labours

If we use sewage, refuse or agricultural waste, biofuels can be sustainable – and cut poverty, says Ron Oxburgh Lord Oxburgh Thursday February 28 2008 George Monbiot has gone too far. Whatever sympathy one has with his campaign against some present-day biofuels, it is absurd to say none are sustainable (Apart from used chip fat, […]

The Guardian: Oil price jumps to record levels

Terry Macalister Wednesday February 27 2008 The price of oil reached $102 per barrel today – a second record is as many days – as traders switched their investments from shares and currencies into commodities amid growing fears of a US recession. Light, sweet crude for April delivery reached $102.08 on the New York […]

Daily Telegraph: Eskimos file lawsuit against oil companies

By Tom Leonard in New York Last Updated: 12:01am GMT 28/02/2008 An Eskimo village that is melting into the sea off Alaska has launched a legal challenge against BP, Shell and more than 20 other oil and power companies, alleging that their contribution to global warming is threatening to destroy the tiny community. The 391 […]

The Times: Courses tailored to the new demands of the oil industry

February 28, 2008 Steve Coomber says jobs in energy supply and trading are likely to increase WITH oil prices breaking the $100 a barrel level for the first time, new oil and gas discoveries in the Arctic region, and global companies such as ExxonMobil and Royal Dutch Shell making record results, a career in the […] Exxon vs. Alaskans as high court takes on oil spill case

Tugboats pull the Exxon Valdez off Bligh Reef in Alaska’s Prince William Sound on April 5, 1989. WASHINGTON (CNN) — Nearly 20 years after one of the most infamous environmental disasters scarred Alaska’s Prince William Sound, the Supreme Court stepped nearer Wednesday to perhaps providing a measure of closure for the seemingly endless litigation over […]

Times Online: New fraud risk for chip and PIN revealed

(David Cheskin) A relatively simple procedure can program a chip and PIN terminal to steal PIN numbers Jonathan Richards ‘Chip and PIN’ cards which require customers to enter a four-digit code before purchasing goods may not be as safe as previously thought, according to research. February 27, 2008 Customers may unwittingly be handing over their […] Paddys Day of Action Against Shell

This year´s St Paddy´s day, 17th March, has been called as an International day of action against Shell, in solidarity with the people of Rossport. People from all over Ireland are set to join forces and show their united strength by going all the way to London to demonstrate on Shell´s front door step. Gluaiseacht, […]

Seeking Alpha: Renewable Energy: Approaching Grid Parity?

February 27, 2008 Nick Hodge: Bio & more articles I seem to remember an e-mail going around not too long ago about different politicians and oil CEOs “going into the confessional,” so to speak. First up was ConocoPhillips (NYSE: COP) CEO Jim Mulva, who said he did not believe the global oil supply would ever […]

San Jose Mercury News: BP hints that it may offload green business

Associated Press Article Launched: 02/27/2008 09:59:19 AM PST LONDON – BP PLC Chief Executive Tony Hayward hinted on Wednesday that the oil company may offload part or all of its green business unit, reversing a central part of its previous strategy as he seeks to turn the company around. Hayward, giving his first annual presentation […]