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Posts from ‘December, 2008’

Chemical Giant LyondellBasell Mulls Bankruptcy

He bought Basell, a Dutch joint-venture between German chemicals-maker BASF AG and Royal Dutch Shell PLC, for €4.4 billion, or $6.06 billion, in 2005, the largest leveraged-buyout deal in the chemical industry at that time.

Shell shuts Nigerian gas plant due to technical problems

    By Jonathan Browning and Daniela Silberstein Dec. 31 (Bloomberg - Royal Dutch Shell Plc (RDSA LN): Europe’s largest oil company’s Nigerian unit shut down its Utorogun gas plant due to technical problems, cutting gas supplies to major power plants, ThisDay reported, citing the head of the Nigerian Gas Company. The stock rose 40 pence, or […]

Shell Australia refinery outage to last into 2009

SYDNEY, Dec 31 (Reuters) – A temporary shut down of Royal Dutch Shell Plc’s (RDSa.L) Australia Clyde refinery will extend into 2009 due to ongoing maintenance work, a company spokesman said on Wednesday.

Shell Says Train Wagon From German Refinery Spills Oil Product

Dec. 30 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, said a railway boiler wagon spilled a “bitumen-like” oil by-product after leaving the Heide refinery in the northern German town of Hemmingstedt.

Oil Set for Rebound as Record Drop Spurs OPEC Cuts

Dec. 30 (Bloomberg) — Oil futures may rebound from their worst year to average $60 a barrel next year as OPEC makes record production cuts to counter the deepest economic slump since World War II.

Loonie’s Worst Year May Extend Into 2009 Amid Oil’s Collapse

Royal Dutch Shell Plc, based in The Hague, and StatoilHydro ASA, Norway’s biggest oil producer, are among companies that deferred or canceled at least 14 projects this year in Alberta’s oil sands. Oil collapsed more than $100 since July to a low of $32.40 a barrel, less than half the price needed to make oil- sands projects economically viable, according to estimates by the Canadian Association of Petroleum Producers.

BP Resumes Full Production at Australian Oil Refinery

Dec. 30 (Bloomberg) — BP Plc, one of four oil refiners in Australia, resumed full production at a plant in Western Australia, the largest in the country, after scheduled maintenance work that lasted two months.

India’s ONGC Fights to Keep Up

Around the same time, Angola rejected plans by Royal Dutch Shell PLC to sell its half of a project to ONGC, instead ordering Shell to sell to Chinese interests.

Shell eyes 40 more outlets

KUALA LUMPUR: Shell Malaysia plans to open 40 more petrol stations next year despite the challenging economic environment.

Golar May Pip Shell for Gladstone LNG, The Australian Reports

Dec. 29 (Bloomberg) — Norway’s Golar LNG Ltd. may win a contract to buy liquefied natural gas from a gas venture in Australia, crowding out Royal Dutch Shell SA, The Australian said, citing Golar LNG’s Chief Executive Officer Gary Smith.

‘No pause button’ on Corrib gas project, Shell says

SHELL EP Ireland has said there is “no pause button” on the Corrib gas project, and no overall delay to the current schedule. The company was responding yesterday to an industry media report that the project may have been put on hold.

Gazprom, Once Mighty, Is Reeling

Investors are now fleeing Gazprom stock…

Corrib forum chairman opens door to campaigners

Separately, a High Court action taken by four residents seeking declarations that Shell has no interest in lands acquired under compulsory acquisition orders in 2002 is continuing.

Million dollar question: how to get oil from shale

The in situ method being used in Shell Oil’s experimental tract involves drilling a well through the oil shale layer (about 2,000 feet) and lowering heated rods that will eventually heat the shale to 650 degrees Farenheit to release the oil.