Energy-poor Jordan said on Sunday it was in talks with Anglo-Dutch group Royal Dutch Shell on an agreement to extract oil from the desert kingdom’s 40-billion-tonne oil shale reserves.
Posts on ‘August 10th, 2008’
Even the market-friendly United Kingdom, home to oil giants BP and Royal Dutch Shell, recently has sought to capture a bigger share of revenue from companies operating in the North Sea.
On Aug. 8 Lynn Elsenhans, who previously worked for Royal Dutch-Shell, will take over from John Drosdick as the CEO of Sunoco, an American oil-refining giant. Meanwhile Shells executive director of gas and power, Linda Cook, is said to be one of two internal candidates who could replace the companys CEO, Jeroen van der Veer, who is due to step down next year. Should she do so, she would become the first female CEO of a major oil producer.
n 2006, Royal Dutch Shell Plc was muscled into selling control of its biggest Russian project to state-controlled OAO Gazprom, after regulators threatened to revoke Shell’s operating permits on environmental grounds.
The Kremlin is paranoid about the energy resources on which so much of its power depends: witness its acquiescence in the seizure of control of BP’s Russian joint venture, TNK-BP, which Russian oligarchs pulled off with impunity…
The pipeline is 30 per cent owned by BP and supplies 1 per cent of the worlds oil needs, pumping up to a million barrels of crude per day to Turkey.
Employees with least to worry about at this point in time, because their pensions are well funded, include those at GE, whose scheme has a 29% surplus, EMC with a 24% surplus, Mitsubishi with a 22% surplus, Royal Dutch Shell, with a 22% surplus, Hewlett Packard and IBM, both with a 13% surplus.
Russia’s vast natural reserves have allowed it to position itself as a rival to Middle Eastern nations in supplying energy to the West. However, its hostility to BP and Shell, which had supplied investment to begin exploiting its resources, have spurred Europe to look for alternatives.
Last week Origin confirmed it had received other approaches, with likely suitors said to be oil giants Royal Dutch Shell and BP. Analysts speculate BG may raise its offer to clinch the deal.
The Shell Petroleum Development Company of Nigeria (SPDC) has said it was in Nigeria to stay. This was stated by SPDCs Managing Director, Mutiu Sunmonu, during an exclusive interview with Sunday Tribune.