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Posts from ‘February, 2009’

BG Raises Leading Bid for Pure Energy

BG likely hopes the move is a knockout punch in its battle with Royal Dutch Shell’s Australian joint venture partner, Arrow Energy Ltd., for the coal seam gas producer.

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Shell’s oil sands expansion costs rise, partner says

The costs of a 100,000 barrel per day expansion of Royal Dutch Shell Plc’s Athabasca Oil Sands Project have climbed to $13.7 billion, partner Chevron Corp said in a filing, well ahead of earlier estimates.

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BG Group Raises Cash Takeover Offer for Pure Energy

BG’s increased offer of A$8.25 a share is final in the absence of a higher bid, the Reading, U.K.-based company said today in a statement to the Australian stock exchange. The move further boosts BG’s offer above a rival cash and stock bid by Arrow Energy Ltd., Royal Dutch Shell Plc’s Australian partner in coal-seam gas.

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Obama Budget Hits Oil, Gas Companies With New Fees, Taxes

“It’s a concerning area, of course, because as you put more royalty and tax burdens on the industry, particularly a cyclical industry, you just have to be cognizant of the potential impact it has on investments,” said Marvin Odum, the president of Royal Dutch Shell’s U.S. operations, after meetings with various lawmakers about energy policy.

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Shell Blocks Employee Internet Gambling Sites

Richard Wiseman, Chief Ethics & Compliance Officer of Royal Dutch Shell has confirmed that IT staff have commenced blocking undesirable websites accessed by employees whilst at work.

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Australian Coal-Gas Sparks a Deal Boom

BG Group PLC, the British oil and gas company, and Royal Dutch Shell PLC’s Australian partner Arrow Energy Ltd. are competing for Pure Energy Resources Ltd., an Australian player in coalbed methane.

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Sibir investigates property dealings

Sibir’s shares reached a peak of 830p last summer, giving it a market value of £2.5bn ($3.6bn), and it was contemplating a move to the main market, while there was speculation that Royal Dutch Shell, its partner in the Salym fields, would bid for the group.

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Co-op to help fund oil sands legal fight

The UK’s Co-op banking and investment group is paying £50,000 ($71,000) to fund a legal action in Canada that could block the development of the country’s oil sands by companies such as Royal Dutch Shell and BP.

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Salazar to rewrite Bush’s oil-shale plan

Exxon Mobil Corp., Chevron Corp. and Royal Dutch Shell Plc are among companies working on technology to extract the oil by heating the rocks.

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Arrow on target with strong first-half performance

The company’s strong performance was underpinned by its transaction with Royal Dutch Shell which saw the oil giant pay $319 million during December 2008 as part payment for a 30 percent share of Arrow’s interests in all of its Australian upstream tenements.

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