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March 4th, 2008:

allAfrica.com: Nigeria: $20bn Investment in Delta Will Boost Economy – Shell

Vanguard (Lagos)
4 March 2008
George Onah

IN its quest to boost local content in development projects in Nigeria, Shell Petroleum Development Company has said that its $20 billion investments in Niger Delta will embrace Nigerians in the most critical sector of the economy.

Most of the projects which are located in Delta, Bayelsa and Rivers states, among others, would provide direct employment to over 16,000 skilled and unskilled as well as semi-skilled youths, while several thousands would be indirectly employed.
 
Disclosing the development in Port Harcourt, last weekend, at a press parley, General Manager, Local Content Development of Shell Dr. Eddie Wikina said some of the projects “making statements in the LCD arrangement are ‘front end engineering design’ (FEED). read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

CNNMoney: Nigeria Oil Co: Mulls Reserves Booking Impact On JV Changes

March 04, 2008: 03:00 PM EST

LONDON -(Dow Jones)- The Nigerian National Petroleum Corporation, or NNPC, is discussing the possible impact on reserves booking of a planned joint ventures status change, a spokesman for the company said this week.

The talks highlight the reserves risks the change carries for foreign companies, particularly for Royal Dutch Shell PLC (RDSA), which faced a reserves problem in 2004.

The Nigerian government is considering opening investment in the joint ventures with foreign companies to investors on the stock exchange. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

UpstreamOnline: Ex-Shell boss to spearhead Delta (Walter van de Vijver)

Originally posted on 30 March 2007

Van de Vijver shakes off reserves scandal to form investment outfit

CHRISTOPHER HOPSON
London

ROYAL Dutch Shell’s former upstream chief executive Walter van de Vijver is returning to the oil and gas industry, raising about $1 billion of private equity to form a new company called Delta Hydrocarbons.

Van de Vijver has founded the new company with Maarten Scholten, formerly head of Schlumberger’s mergers and acquisitions team. They have been joined by Jeri Eagan, formerly chief financial officer for Shell’s gas and power business and Frederik Rijkens, previously a Total project director. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

International Herald Tribune: Investors’ flight to oil pushes price to record

International Herald Tribune image

The cost of diesel has risen as the weaker dollar propels oil prices.
(David Duprey/The Associated Press)

By Jad Mouawad
Tuesday, March 4, 2008

Capping a relentless rise in recent years, oil prices hit an all-time high during the day on Monday, then pulled back to close below the record.

The day’s highest trading price, $103.95 a barrel on the New York Mercantile Exchange, broke the record set in April 1980 during the second oil shock. That price, $39.50 a barrel, equals $103.76 today, when adjusted for inflation. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Monterey Herald: BP boosts reserve for Texas blast claims

By JANE WARDELL AP Business Writer
Article Last Updated: 03/04/2008 06:14:31 AM PST

LONDON—BP PLC increased the funds it has set aside to settle claims arising from the 2005 fatal explosion at its Texas City refinery by about a third to $2.13 billion, the energy company said Tuesday.

The company also disclosed that Chief Executive Tony Hayward received a larger bonus in 2007 than the award granted to his predecessor in 2006. But it said he missed out on a long-term share package worth around 2.4 million pounds ($4.8 million) due to the company’s poor past performance. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Reuters: UPDATE 1-Qatar Shell GTL plant to start 2010 – Attiyah

Tue Mar 4, 2008 10:26am
(Adds Shell CEO para 4)

VIENNA, March 4 (Reuters) – The first train at Qatar’s gas-to-liquids plant will start in 2010, Qatari Oil Minister Abdullah al-Attiyah said on Tuesday.

The Pearl GTL plant to make super-clean fuels is Shell’s largest foreign investment and will be the world’s largest such plant. Spiralling costs have taken the price to $18 billion from an original budget of $5 billion.

Attiyah said he had met with Shell Chief Executive Jeroen van der Veer on Monday. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Reuters: Shell says flows to UK via Bacton terminal to rise

Tue Mar 4, 2008 6:52am EST

LONDON, March 4 (Reuters) – Royal Dutch Shell (RDSa.L: Quote, Profile, Research) expects to gradually increase UK gas imports through its terminal at Bacton towards normal levels after a fire closed it last Thursday, although flow rates may dip at times, a spokesman for the company said on Tuesday.

The terminal was reopened on Monday afternoon after last week’s fire in a waste treatment unit and flow rates reached around 23 million cubic metres a day early on Tuesday before plunging to little more than 5 mcm/day. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

energycurrent.com: Sakhalin shelves huge funding bid

By Billy Youngson
Filed from Aberdeen 3/4/2008 10:17:02 AM GMT

RUSSIA:  Sakhalin Energy shelved its bid to grab hundreds of millions of dollars of public financing for the world’s largest integrated oil and gas development. Delays in getting approval have led the Gazprom- and Shell-led venture to withdraw applications with the U.S. Export Import (Ex-Im) Bank and the UK Export Credit Guarantee Department (ECGD).
 
The U.S. and British lenders have been studying whether the US$22 billion project meets their funding criteria, with environmental groups such as World Wildlife Fund (WWF) highly critical.  Sakhalin II, located off Russia’s eastern coast, has been plagued by environmental problems, including threats to the endangered Western Gray Whales, damage to wild salmon spawning grounds, and negative impacts to indigenous and fishing cultures.
 
Ivan Chernyakhovsky, a spokesman for Sakhalin Energy, said it was important for finance to be in place before the end of construction, with major work targeted for completion before the end of the year.  The Japan Bank for International Cooperation and commercial banks are expected to finalise project funding in the first half of this year. Sakhalin Energy, the shareholders of which include Japan’s Mitsui and Mitsubishi, plan to raise at least US$5 billion to fund the development.
read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

CNNMoney.com: Shell IT Jobs: Deutsche Telekom files for regulatory approval of Royal Dutch Shell IT deal

March 04, 2008: 06:27 AM EST

BONN, Mar. 4, 2008 (Thomson Financial delivered by Newstex) — Deutsche Telekom AG’s (NYSE:DT) T-Systems filed for regulatory approval of its plan to provide a substantial part of Royal Dutch Shell’s IT infrastructure services, according to the German Federal Cartel Office’s website.

Shell previously said it wants to outsource part of its IT operations and is in negotiations with T-Systems, EDS (NYSE:EDS) and AT&T Inc (NYSE:SBT) (NYSE:T) in this regard. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

BunkerWorld.com: Shell tanker stuck

Reports say that the loaded 44800 dwt Shell-chartered products tanker which grounded off the Bahamas would remain in its position for at least another week …

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Chicago Tribune: Crude tops ‘true record’ high

ASSOCIATED PRESS
March 4, 2008

NEW YORK – The surging price of oil reached another milestone Monday, jumping to an inflation-adjusted record high of $103.95.

The weaker dollar that has propelled oil and other commodities prices higher sent light, sweet crude for April delivery past $103.76 a barrel on the New York Mercantile Exchange. That’s the level many analysts consider to be the true record high for oil, after its $38 barrel price from 1980 is translated into 2008 dollars.

Futures later retreated from that high to settle up 61 cents, at $102.45, after Royal Dutch Shell PLC said it would resume oil shipments from Nigeria that had been disrupted by rebel attacks. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Reuters: BP’s ‘dreadful’ performance weighs on CEO’s pay

Tue Mar 4, 2008 11:21am GMTBy Tom Bergin

LONDON (Reuters) – BP’s chief executive missed out on a possible 2.5 million pound bonus last year, as part of a long-term incentive scheme paid in shares, because of the oil major’s industry-lagging performance.

A BP spokesman said that under the scheme, Tony Hayward, who was appointed CEO last May, could have been awarded up to 436,636 shares but that as BP came last in a variety of measures against its main competitors, including Royal Dutch Shell and Exxon Mobil, Hayward received none. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

‘Is this the beginning of the end of Shell?’

An intriguing posting on Live Chat on Monday 3 March 2008

Guest 3513: “It’s interesting that Shell has picked 17th March for a major announcement – it will be St. Patrick’s day and Europe will be shutting down for Easter. Shell seem to have a habit of announcing bad news just before a holiday…The Daily Telegraph article (“Shell likely to miss Canada tar sands”) probably says it all”

Comment by another guest

Guest 1094: I hardly believe that “Europe will be shutting down for Easter” from Monday 17th March !!! Considering most countries work up to and including Friday, I think this is another example of making something out of nothing when discussng Shell. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

BunkerWorld.com: Shell tanker stuck

BunkerWorld.com: Shell tanker stuck

04 Mar 2008, 09:33 GMT

Salvors to remove bunker fuel and cargo from 44,800 dwt products tanker before attempting re-float.

http://www.bunkerworld.com/news/2008/03/70901

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

BBC News: Gas flow resumes at fire terminal

Tuesday, 4 March 2008, 09:10 GMT 
 
Gas flow has resumed at a Shell UK terminal after an explosion and a major blaze in a waste water treatment unit, but at a third of the pre-fire level.

An inquiry is continuing into the incident last Thursday at Bacton gas terminal in North Norfolk.

An evacuation of the site was carried out and all 46 personnel were unhurt.

The Health and Safety Executive (HSE) is looking into the cause of the fire at the Shell UK terminal, which usually supplies 10% of Britain’s gas. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

THE WALL STREET JOURNAL: OPINION: The World Has Plenty of Oil

Wall Street Journal image

Chad Crowe 

By NANSEN G. SALERI
March 4, 2008; Page A17

Many energy analysts view the ongoing waltz of crude prices with the mystical $100 mark — notwithstanding the dollar’s anemia — as another sign of the beginning of the end for the oil era. “[A]t the furthest out, it will be a crisis in 2008 to 2012,” declares Matthew Simmons, the most vocal voice among the “neo-peak-oil” club. Tempering this pessimism only slightly is the viewpoint gaining ground among many industry leaders, who argue that daily production by 2030 of 100 million barrels will be difficult. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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