Shocks are occasionally necessary to change human behaviour. High prices are painful, but will ensure the world does not run out of oil.
Posts on ‘June 28th, 2008’
These features could make BG a takeover target for a larger rival, such as Shell.
Shell Canada spokesperson Heather Cooper said it is far too early to predict whether the ban would impact the proposed refinery, which will process heavy crude from Albertas oil sands.
Other looming issues include:
Shell Canada’s plans for a heavy-oil refinery near Sarnia that could produce 150,000 to 200,000 barrels per day of gasoline, diesel and jet fuel.
The consortium consists of large international companies: Italia’s ENI, France’s Total, the English-Dutch corporation Royal Dutch-Shell, the American Exxon-Mobil and Conoco-Phillips companies, the Japanese corporation Inpex and Kazakhstans KazMunaiGaz.
The trifecta of skyrocketing crude-oil prices, slumping stocks and a weaker U.S. dollar haunts global markets…
A year earlier, Royal Dutch Shell was pressured to sell a controlling stake in the worlds largest oil and natural gas development, Sakhalin-2, to Gazprom. In that case, the government cited environmental damage in a pipeline project.
EU officials believe that the Russian shareholders will eventually sell their stake to Gazprom or another state-run entity. Their battle against BP is a ruthless attempt to drive up the multibillion-dollar price of any deal, they say.
Gordon Brown has made energy a priority for his Government and in April encouraged BP and Shell to spend more in the UK. We do need the oil coming out of the North Sea; we do need to encourage the new exploration, he said.
Four oil giants – Exxon Mobil, Shell, Total and BP – are to announce next week no-bid contracts to start servicing the creaking Iraqi oil infrastructure, crippled for decades by lack of investment and often targeted by insurgents.
Iraq: …the reason that Shell and ExxonMobil and the rest are confident of riches is because they have the best supporter of all to guarantee it for them. The United States military.