8/2/2008 16:20 London Time PARIS (Thomson Financial) – French oil giant Total has decided to pull out of a gas exploration project in Saudia Arabia after three wells turned up no gas, a spokesman for the company told Agence France-Presse. Total was a partner in the South Rub al-Khali joint venture alongside Royal Dutch Shell [...]
Posts on ‘February 8th, 2008’
CNNMoney.com: Energy: The $22 trillion question
Securing supplies, the boom in Wall Street interest, and what $100 oil means for the economy are all up for discussion at upcoming energy conference. By Steve Hargreaves, CNNMoney.com staff writer February 8 2008: 11:12 AM EST NEW YORK (CNNMoney.com) — How safe are our oil supplies? Where will the new supplies come from? Have [...]
Bloomberg: Oil Rises More Than $3 on Reduced North Sea, Nigeria Output
By Mark Shenk Feb. 8 (Bloomberg) — Crude oil rose more than $3 a barrel on forecasts for lower North Sea output in March and Royal Dutch Shell Plc’s announcement yesterday that pipeline damage would reduce Nigerian exports. Daily shipments of Brent, Forties, Oseberg and Ekofisk crude-oil grades produced in the North Sea will drop [...]
PRNewswire: Shell to Recruit U.S. Seafarers for International LNG Fleet for the First Time
LONDON and HOUSTON, Feb. 8 /PRNewswire/ — Shell International Trading and Shipping Company Ltd. (SHELL) today announced it will begin recruiting U.S. seafarers for the company’s growing portfolio of managed international liquefied natural gas (LNG) vessels. One of the first major oil producers to actively recruit U.S. seafarers for LNG vessels, Shell is committed [...]
ResourceInvestor.com Shell Still in Stormy Waters in Nigeria and Saudi Arabia
By Sven Ridley-Wordich 08 Feb 2008 at 11:18 AM GMT-05:00 AMSTERDAM (ResourceInvestor.com) — After being confronted by increased political meddling by several national governments, such as Russia, Nigeria, Algeria and Venezuela, the Dutch-British oil and gas major is again hitting the rocks it seems. In the last few days, financial analysts have been reasonably positive [...]
AFX News Limited/ Forbes: Shell faces call for new inquiry over leaking of ethelyne oxide gas – media
02.08.08, 2:22 AM ET AMSTERDAM (Thomson Financial) – Royal Dutch Shell said a larger amount of ethelyne oxide gas escaped from its Moerdijk location in the Netherlands than previously thought, prompting calls from a Dutch province for an independent inquiry into the incident, Dutch media reported. Shell said on its Moerdijk website that 5.3 tonnes [...]
The Times-Picayune: Fee order in gas gauge case tossed
Date Published: February 7, 2008 The Associated Press A federal appeals court has thrown out an order giving $6.8 million in fees to plaintiff attorneys who handled a lawsuit over tainted gasoline that damaged fuel gauges. Three members of the 5th U.S. Circuit Court of Appeals said that U.S. District Judge Ivan Lemelle had decided [...]
JewishJournal.com: Sanctions only work if they are enforced
By David Peyman 2008-02-08 In a recent report, the Government Accountability Office (GAO) challenged the impact of U.S. sanctions against Iran, noting Iran’s ability to negotiate $20 billion in contracts with foreign firms since 2003 to develop its energy resources. The GAO correctly recognizes that “Iran’s overall trade with the world has grown since [...]
Business Week: Big Oil’s Victory in Venezuela
February 7, 2008, 10:30PM EST ExxonMobil has won a court battle to freeze $12 billion in assets of Petroleos de Venezuela as compensation for nationalization of projects By Peter Wilson Venezuelan President Hugo Chávez has repeatedly seized assets of international oil companies operating in the country as part of his socialist revolution. Now, Big Oil [...]
Financial Times: Asian LNG demand helps BG exceed forecasts
By Dino Mahtani Published: February 8 2008 02:00 | Last updated: February 8 2008 02:00 Higher demand for liquefied natural gas in Asia helped BG Group beat analysts’ forecasts with a 36 per cent increase in fourth-quarter profits. Excluding disposals and other one-off items, the group earned Ł558m in the fourth quarter, 8 per cent [...]
Financial Times: Licensing of oil rights off Alaska angers activists
By Dino Mahtani in London Published: February 8 2008 02:00 | Last updated: February 8 2008 02:00 The US government has licensed off nearly 3m acres near the coast of Alaska to exploration companies, drawing the ire of environmental activists. Shell, ConocoPhillips, StatoilHydro, Repsol and Eni this week bid for the licences, which fetched more [...]
Daily Telegraph: BG has bigger oil and gas reserves in Brazil
By Russell Hotten, Industry Editor Last Updated: 2:35am GMT 08/02/2008 BG Group, the UK’s third-largest producer of natural gas, has tripled its estimate of reserves held in the giant Tupi field off Brazil. The success of the Tupi discovery, one of the largest finds in decades, is key to BG’s long-term growth and the company [...]
Daily Telegraph: BG may be a minnow but it’s the envy of the big fish forecasts
Edited by Yvette Essen Last Updated: 1:03am GMT 08/02/2008 BG Group Ł11.18 +41p Questor says Buy After two weeks of the oil and gas supermajors fretting over their growth prospects, BG Group swept in yesterday with a refreshing blast of good news. BG is a minnow compared with the likes of Shell, BP or [...]
The Times: Need to know: February 8, 2008
Natural resources Royal Dutch Shell said that it would not be able to honour its export contracts from one of its key terminals in Nigeria’s volatile delta. Shell said that it was halting contracts from its Bonny terminal throughout March because it is unable to repair a leak due to security concerns. The leak has [...]
The Guardian: Oil extends gains on U.S. chill, rebound off low
Reuters Friday February 8 2008 (Updates prices paragraphs 2-3) By James Topham TOKYO, Feb 8 (Reuters) – Oil extended gains towards $89 a barrel on Friday as traders bought back short positions on expectations that cold U.S. weather would boost fuel demand and after prices failed to break below the $86 watermark. U.S. light, sweet [...]
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