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Posts on ‘April 26th, 2008’

BP shutting down major British oil pipeline

Reuters: BP shutting down major British oil pipeline Sat Apr 26, 2008 7:41pm EDT By Jeremy Lovell LONDON (Reuters) – A pipeline carrying nearly half of Britain’s oil was being shut down late on Saturday ahead of a strike over pensions that has already closed a major refinery and prompted some panic fuel buying. The [...]

It’s time to relocalise our lives: Joanna Blythman on life without oil

Sunday Herald: It’s time to relocalise our lives: Joanna Blythman on life without oil FACED WITH panic at the pumps, Alex Salmond was absolutely right to urge people to behave sensibly and responsibly, by cutting out non-essential trips, and using public transport. But he should have added: “Get used to it”, because we urgently need to realise that this isn’t [...]

City hopes to see bigger profits in the pipeline from BP

Scotland on Sunday: City hopes to see bigger profits in the pipeline from BP Market Watch Published Date: 27 April 2008 By Nathalie Thomas OIL giants BP and Royal Dutch Shell will reveal this week that cash has been flowing in as oil prices continue to soar. As a barrel of the black stuff tops [...]

Running on Empty

The Nation: Running on Empty By MARK HERTSGAARD This article appeared in the May 12, 2008 edition of The Nation. It used to be that only environmentalists and paranoids warned about running out of oil. Not anymore. As climate change did over the past few years, peak oil seems poised to become the next big [...]

BP and Shell to declare profits of £68bn

Oil giants to declare profits of £68bn Richard Wachman The Observer, Sunday April 27 2008 BP and Shell will together make record profits of more than $68bn this year if the oil price stays at current levels, according to City forecasters. Brent crude soared to $116 a barrel on Friday as BP shut down a [...]

Grangemouth strike: who’s fuelling who?

The Sunday Times: Grangemouth strike: who’s fuelling who? Government is urging consumers not to panic but Scotland is facing fuel shortages as the Forties pipeline prepares to close Tom Gordon and Stuart MacDonald April 27, 2008 Angus McCall watched last week’s planned strike at the Grangemouth oil refinery unfold with a growing sense of trepidation. [...]

Oil firms in Nigeria cut output

BBC News: Oil firms in Nigeria cut output “Our candid advice to the oil majors is that they should not waste their time repairing any lines, as we will continue to sabotage them” Militant statement Saturday, 26 April 2008 05:15 UK Industrial action and attacks from militants have forced the two biggest oil companies in [...]

Shell and BP earn £6bn in 12 weeks amid fuel crisis

Sunday Herald: Shell and BP earn £6bn in 12 weeks amid fuel crisis Householders warned of rising power bills as suppliers pass on price rises By John Phelps OIL GIANTS BP and Shell will fuel motorists’ anger over the latest surge in petrol prices this week when they are expected to disclose they have made [...]

Shell reserves fear sees Footsie falter

Edinburgh News: Shell reserves fear sees Footsie falter MARKET WATCH Saturday, 26th April 2008 THE Footsie came off the boil today after hitting four-year highs earlier in the week – and as the morning session drew to a close the index was down 15 points at 5786. Helping lead the blue chip index into the [...]

Halliburton implicates Shell in Nigerian bribes probe

The Calgary Herald: Halliburton implicates Shell in probe From Herald News Services Published: Saturday, April 26, 2008 Halliburton Co., the world’s second-largest oilfield contractor, said an investigation into alleged bribes paid in relation to a Nigerian liquefied natural gas facility also may involve a Royal Dutch Shell PLC project. Halliburton, based in Houston, said in [...]

Breakthrough in Shell Corrib gas dispute

The gas will be piped to the Mayo coast BBC News: Breakthrough in Shell gas dispute Diarmaid Fleming People in Mayo locked in a long-running dispute with oil giant Shell have moved to break the stalemate. Shell and its partners, Statoil and Marathon, are developing the offshore Corrib Gas Project. Locals had demanded that gas [...]

Alarm at Shell ‘retention’ awards of over $1.5 million each for Malcolm Brinded, Linda Cook and Peter Voser

Financial Times: Alarm at Shell retention awards By Tom Burgis and Kate Burgess Published: April 26 2008 03:00 | Last updated: April 26 2008 03:00 Royal Dutch Shell and several other leading companies stand to feel the wrath of shareholders in coming weeks because of a growing trend towards paying executives handsome bonuses simply for [...]

Oil prices up on word US ship fired on boats in Persian Gulf

THE NEW YORK TIMES: Oil prices up on word US ship fired on boats in Persian Gulf By THE ASSOCIATED PRESS Published: April 26, 2008 Filed at 3:25 a.m. ET NEW YORK (AP) — Oil prices rose sharply Friday on news that a ship under contract to the U.S. Defense Department fired warning shots at [...]

‘Law broken’ on pricing by tobacco firms and stores including ‘petrol stations operated by Shell UK’

‘Law broken’ on pricing by tobacco firms and stores · Collaboration alleged after fair trading inquiry · Major companies named will respond within month Simon Bowers The Guardian, Saturday April 26 2008 Supermarkets and tobacco groups have illegally collaborated on prices of cigarettes and rolling tobacco, according to an investigation by the Office of Fair [...]

How Big Oil got bigger – and befuddled the pundits

How Big Oil got bigger – and befuddled the pundits Terry Macalister and Kathryn Hopkins The Guardian, Saturday April 26 2008 The past 10 years have been a rollercoaster for energy markets with the price of oil swinging from $10 (£5) a barrel to nearly $120, triggering demands to explore in areas formerly written off [...]