Royal Dutch Shell and BP provided a talking point as the wider market paused for breath after two days of strong rallies. Some traders were asking themselves yesterday whether one of the UK-listed oil majors would be tempted into a bidding war for Canadian oil sands company Nexen Inc. Market sources said French rival Total is set to pounce on Nexen and may be ready to go hostile to acquire the company.
November 27th, 2008:
Shell and BP fall amid talk of bidding war
Nigeria LNG declares force majeure on Shell shut-down
LAGOS, Nov 27 (Reuters) - Nigeria Liquefied Natural Gas Ltd (NLNG), supplier of around 10 percent of the world's LNG, declared force majeure on Thursday after Royal Dutch Shell was forced to shut down one of its feeder plants.
Lukoil in Talks to Buy BP Stake in Caspian Pipeline
OAO Lukoil, Russias biggest independent oil company, is in talks to buy BP Plcs stake in the Caspian Pipeline Consortium, which may clear the way for expanding the link. Chevron is the largest corporate owner with 15 percent, while Exxon Mobil Corp.and a joint venture between Russias OAO Rosneft and Royal Dutch Shell Plc each hold 7.5 percent.
Chevrons Gorgon LNG Plant Cost May Fall, Barclays Capital Says
The Gorgon venture, which includes Exxon Mobil Corp. and Royal Dutch Shell Plc, has yet to get environmental approval for the delayed project and is also working to improve its profitability after a surge in construction costs.
Shell warns on gas supplies to Nigeria LNG
Royal Dutch Shell declared force majeure on gas supplies to Nigeria Liquefied Natural Gas Ltd on Thursday after it shut down its Soku gas plant to repair pipelines damaged by thieves.
Peace River project shelved by Shell
Royal Dutch Shell has put on hold another multibillion-dollar Alberta oilsands project, the second in a month, as it struggles with low commodity prices and increasing Alberta construction costs.
Expert asks Ecuador court to fine Chevron $27 billion
An environmental expert told a court in Ecuador that oil company Chevron Corp should pay $27 billion in compensation for environmental damage in the country, the company said on Wednesday.
China natural gas opportunity for Chevron, Total and Royal Dutch Shell
China's desire to boost natural-gas output and master advanced drilling technology has led it to open up a handful of onshore blocks to foreign partners, including Chevron Corp., Royal Dutch Shell PLC and Total.
A deal for Nexen could spark a wave of mergers and acquisitions by companies such as Royal Dutch Shell
A deal for Nexen could spark a wave of mergers and acquisitions, analysts said, pointing out that several US companies, such as Anadarko, Marathon and the UK's BG were being eyed by companies such as Royal Dutch Shell, Eni and other larger rivals.
Renewed push by Royal Dutch Shell into India’s fuel market
The plunge in crude oil prices has prompted a renewed push by Shell and private-sector Indian groups into the country's retail fuel market.
GREECE FINES BP, SHELL $80M FOR PRICE-FIXING
ATHENS - Greece's state competition watchdog has fined British energy giant BP and Anglo-Dutch counterpart Royal Dutch Shell the equivalent of almost $80 million Cdn for price-fixing, the body said Tuesday.
Shell fined £150,000 after admitting HSE breaches on North Sea rig which cost life of employee
Both Shell and AMEC admitted breaching health and safety rules and were each fined £150,000 plus £41,500 in costs at Norwich Crown Court.
BP free to move for former Shell Executive Paul Skinner
Such is fate, however, that being passed over in favour of Sir Philip Watts could well turn out to be the best thing that has ever happened to him. While Watts subsequently became engulfed in the scandal over Shell's misreporting of its reserves, Skinner went on to Rio Tinto.