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Posts from ‘October, 2008’

Statement by Shell: Afam VI Gas Power Plant starts in Nigeria

The Okoloma Gas Plant started supply of gas on 11 October, and commissioning of the second turbine of the Afam VI Power Plant is planned for early November.

Rules of engagement

Transformational engagement is a difficult concept to see in practice and perhaps even to grasp. The example Bowen uses is the relationship between Royal Dutch/Shell plc and Living Earth Foundation, an environmental education and advocacy group based in the United Kingdom. Living Earth works on a unique portfolio of projects that have set new standards in education, environment, and community development

Oil’s Slide Threatens Future Supply

LONDON — The slump in oil prices has spread relief among consumers and fuel-reliant industries, but also is squeezing the companies who could invest in new sources of oil — spurring concerns that prices will prompt them to shelve investments.

Nexen chief to leave as rivals circle

Along with Total, Royal Dutch Shell, which is heavily invested in Canada’s oil sands, is also weighing its interest in Nexen, according to banking insiders and oil executives

BP to cut more jobs in addition to 5,000 already announced

BP plans to make more job cuts than the 5,000 it has already announced, the oil group’s chief executive said on Tuesday.

BP at centre of a huge row yesterday

In response to the barrage of criticism, BP said that over the past three years it had paid more than £5bn in tax in the UK and, if fuel, excise duty and VAT were added, the total rose to almost £21bn.

BP’s Texas City refinery to run at full tilt soon

BP was the second of the world’s largest publicly traded oil majors to unveil quarterly results. Last week ConocoPhillips announced a 41 percent increase in earnings. Exxon Mobil Corp. and Royal Dutch Shell are scheduled to release results Thursday, followed by Chevron on Friday.

BP smashes forecasts as profits soar 148%

The figures are likely to spark fresh protests from motorists and businesses that have been hit hard by higher petrol prices.

Fair weather for oil industry mergers as project costs soar

Oil and gas chief executives, a conservative lot, have shied away from using high energy prices to justify big deals. The collapse of the markets could spur them into action.

Oil Earnings Likely to Slip as Prices Fall

The major integrated oil companies report third-quarter earnings this week, with BP on Tuesday,Exxon Mobil and Royal Dutch Shell Thursday and Chevron Friday. Together, they are expected to report more than $35 billion in net income for the period…

Reviled firms lead responsibility list

Some of Europe’s most commonly criticised companies, including British American Tobacco and Royal Dutch Shell, have been named as leaders in the field of corporate responsibility reporting.

Oil Giant BP’s £6.4bn In Profits

BREAKING NEWS 7:15am UK, Tuesday October 28, 2008 Oil giant BP has reported third-quarter profits of £6.4bn – 148% above the same period last year.

Swapping sides would mark a historic step

With 40 years of experience in the oil business, Paul Skinner, Rio Tinto’schairman, is an obvious candidate to step into the chairman’s shoes at BP. However, his appointment would mark a historic step – a career Royal Dutch Shell executive being appointed as the head of its greatest domestic competitor.

BP favours Rio Tinto’s Skinner as chairman

Paul Skinner, the chairman of Rio Tinto, has been chosen as the favoured candidate to take over the chairmanship of BP when Peter Sutherland steps down next year.

BP edges closer to new chairman

Skinner, a former executive at Shell, has been chairman of Rio since 2003 and is expected to step down next year regardless of the BP job and the outcome of the BHP bid. He was unavailable for comment last night. BP, which reports third-quarter results this week, declined to comment