Iraq throws open door to foreign oil firms

Posted on June 30, 2008 by John Donovan.
Categories: Iraq, Oil, Thomson Reuters.

Iraq opened its giant oilfields to foreign firms on Monday, putting British and U.S. companies in pole position five years after U.S.-led troops invaded the country to oust Saddam Hussein.

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Shell chief says making progress on Iraq deal

Posted on by John Donovan.
Categories: Jeroen van der Veer, Nigeria, Oil, Royal Dutch Shell, Thomson Reuters.

Reuters UK

Shell chief says making progress on Iraq deal

Mon Jun 30, 2008 10:54am BST

Shell’s Chief Executive Officer Jeroen van der Veer attends the opening day of the 19th World Petroleum Congress in Madrid, June 30, 2008.

REUTERS/Susana Vera

MADRID (Reuters) - Royal Dutch Shell (RDSa.L: Quote, Profile, Research) is making progress in talks on a deal to invest in Iraq’s oil and gas industry, but is unsure when a contract will be agreed, Chief Executive Jeroen van der Veer said on Monday.

Van der Veer told a press conference at the World Petroleum Congress he hoped a deal could be concluded in weeks rather than months, but said on specific timing: “I don’t have a clue.”

Shell and other oil majors are preparing to sign contracts to help Iraq’s national oil company boost output, without waiting for a final law deciding how oil revenue should be split between Baghdad and the regions.

Shell has previously downplayed the significance of the service contracts being discussed, adding it would not make major investments in Iraq without agreement on the law.

The CEO also said he expected the Bonga field in Nigeria to be back fully online soon, after an attack by militants.

“We assume that will be a matter of days not weeks.”

(Reporting by Tom Bergin; Editing by David Holmes)

 

http://uk.reuters.com/article/businessNews/idUKWLA560220080630

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Shell says no weekend attack on Nigeria oil sites

Posted on by John Donovan.
Categories: Nigeria, Oil, Royal Dutch Shell, Thomson Reuters.

“No Shell flow station, including Oloma, was attacked over the weekend,” said Precious Okolobo, a spokesman for Shell in Nigeria.

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Shell Nigerian Oil Facility Attacked, 5 Killed, Guardian Says

Posted on by John Donovan.
Categories: Bloomberg, Nigeria, Oil.

June 30 (Bloomberg) — Unidentified gunmen attacked an oil- pumping facility run by the Nigerian unit of Royal Dutch Shell Plc, killing at least five people, the Guardian reported, citing military spokesmen.

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Shell pension fund adopts ethical stance

Posted on by John Donovan.
Categories: Royal Dutch Shell.

The Dutch pension fund for oil group Shell, Stichting Shell Pensioenfonds, one of the largest corporate schemes in the Netherlands, is overhauling its ethical policies and has sold out of one company that makes landmines. The Shell fund said in documents posted on its website that it had “broadened its existing corporate governance policy to include social and environmental aspects of business management”.

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Cries in the Dark: How serious is America’s energy crisis?

Posted on by John Donovan.
Categories: Oil Prices, Peak Oil, The Wall Street Journal.

James Schlesinger, the first U.S. energy secretary, has said for decades that when it comes to energy policy, the U.S. toggles between complacency and panic.

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Royal Dutch Shell PLC is heading up a test venture in Hawaii to turn oil-rich algae into fuel

Posted on by John Donovan.
Categories: Alternative Energy, Alternative Fuels, The Wall Street Journal, Wikipedia.

Royal Dutch Shell PLC is heading up a test venture in Hawaii to turn oil-rich algae into fuel. If the process is found commercially viable, the Anglo-Dutch conglomerate could build algae-processing plants elsewhere.

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Scum Power

Posted on by John Donovan.
Categories: Alternative Energy, The Wall Street Journal.

Betting that in a few years algae will be ready for prime time, companies ranging from start-ups like GreenFire Energy of Salt Lake City to energy giants such as ChevronCorp. and Royal Dutch Shell PLC are investing in projects aimed at finding an economical way to turn algae into fuel.

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Energy industry upheaval to benefit oil services

Posted on by John Donovan.
Categories: Financial Times, Gas, Oil.

Some suggested that the international oil companies such as ExxonMobil, BP and Royal Dutch Shell would have to change their business model to become more like service companies if they were to prosper.

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