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Posts on ‘July 29th, 2008’

Shell Employees in Africa Protest Against Being ‘Sold’ by Shell

Shell Employees in Africa Protest Against Being ‘Sold’ by Shell By John Donovan 29 July 2008 Shell has confirmed the sale of its downstream businesses in Ethiopia, Sudan and Djibouti to Oil Libya. Completion of the transfer is expected before the end of 2008. Until then, Shell continues to manage the business. Details were confirmed [...]

‘Blood oil’ dripping from Nigeria

BBC News ‘Blood oil’ dripping from Nigeria   By Andrew Walker  BBC News, Abuja   Oil company employees are suspected of selling their skills to oil bunkerers Under cover of night dozens of barges queue up to dock at a jetty in a creek somewhere in Nigeria’s oil-rich Niger Delta.Their holds are filled with stolen [...]

Shell Ethiopia Employees Demonstrate

This is not the first time the company has been involved in a conflict with its employees. The two had a disagreement which took them to court a couple of months ago, in connection with the amendment of a retirement policy. According to the Labor Union, the revision was made without the consent of the employees and the litigation is still pending.

Shell declares force majeure after Nigeria attack

Royal Dutch Shell declared force majeure on Tuesday on its Nigerian Bonny Light crude oil exports for July to September following an attack by militants on an oil trunk pipeline in the Niger Delta on Monday.

Nigerian Militants Bomb Two Shell-Operated Pipelines

Nigeria’s main militant group said it bombed two Royal Dutch Shell PLC-operated oil pipelines early Monday and warned more attacks were planned over the next month, helping push up oil prices by more than $1 a barrel.

Pipeline Attack in Nigeria Pushes Crude Oil Higher

Shell has yet to clarify the extent of the damage to Nembe Creek, but oil traders see Nigerian production problems as the key element keeping prices buoyant.

Pricey Crude Can Be Trouble for Big Oil

Yet Exxon Mobil also has lost some $64 billion in market value this year, as its stock price has sunk 14%.

Shell leads as big oil raises R&D by 16%

Royal Dutch Shell, already the top spender in 2006, raised its budget the fastest with a 36 per cent increase to $1.2bn for 2007. Last year, it spent more than twice as much as BP on R&D.

Oil innovation after years of caution

Royal Dutch Shell, which has the biggest commitment of any oil company, came a mere 104th in a global ranking of companies by R&D spending in 2006-07 compiled by Britain’s Department for Business and Enterprise.

Exxon and Shell drop sale of Infineum joint venture

Exxon Mobil and Royal Dutch Shell have abandoned the planned £1.5bn-£2bn sale of Infineum, their oil additives joint venture, after private equity bids came in below their target price.

Shell still assessing damage from Nigerian attacks

“A helicopter overfly confirmed that parts of SPDC’s Nembe Creek trunk line were damaged in attacks,” Shell spokeswoman in Nigeria Caroline Wittgen said.

Crude Oil Rises a Second Day After Attack on Nigerian Pipeline

Crude oil rose for a second day after Royal Dutch Shell Plc reduced Nigerian production because of an attack on a pipeline by militants.

BP will ‘work to resolve’ Russian dispute as profits jump

BP said this morning that it would continue to try and resolve a dispute with the billionaire shareholders of the company’s Russian oil joint venture, as it reported an almost 30pc rise in second-quarter profits.

Shell and ExxonMobil drop plans for Infineum sale

Shell and ExxonMobil have pulled the proposed $3bn (£1.5bn) sale of Infineum, one of the world’s largest manufacturers and marketers of lubricant additives that are used in automotive, heavy-duty diesel and marine engines.

BP profits hit record $13.4bn on soaring oil price

Times Online July 29, 2008 BP profits hit record $13.4bn on soaring oil price Robin Pagnamenta BP, the British oil giant, unveiled a 23 per cent rise in profits this morning, boosted by record global crude prices. Replacement cost profit, which strips out exceptional items, hit a record $13.44 billion during the first half of [...]