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Posts from ‘February, 2009’

Could a Russian be called on to rescue BP?

BP could look to Shell, where Mr Skinner spent most of his career. But Jeroen van der Veer has made clear that he will be retiring behind his geraniums when he steps down in June.

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New fears on fate of economy

The Bank of England’s Deputy Governor warned yesterday that the recession could be even worse than it suggested less than a week ago.

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Failure to save East Europe will lead to worldwide meltdown

If one spark jumps across the eurozone line, we will have global systemic crisis within days. Are the firemen ready?

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BG Lifts Bid for Pure to A$995 Million, Topping Arrow

Feb. 17 (Bloomberg) — BG Group Plc, the U.K.’s third- biggest gas producer, raised its offer for Pure Energy Resources Ltd. to A$995 million ($646 million), topping a bid by Arrow Energy Ltd., the Australian partner of Royal Dutch Shell Plc.

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Richard Wiseman, Chief Ethics & Compliance Officer at Royal Dutch Shell Plc makes a serious allegation

…it is remarkable indeed that you are now the Chief Ethics & Compliance Officer of Royal Dutch Shell Plc. Or perhaps it was a reward (bribe) to buy the silence of a former Shell director (and Secretary to the Committee of Group Managing Directors) who knows many dark secrets about Shell? I am of course aware of your role in preventing important information from reaching Shell shareholders. Your elevation reminds me to some extent of the new role and title given to Lord Mandelson a.k.a. The Prince of Darkness.

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BP’s search for chairman in disarray as Skinner decides to remain at Rio

Mr Skinner, the chairman of Rio Tinto, had been hotly tipped as the next leader of BP, Britain’s largest company, after the retirement later this year of Peter Sutherland. Over the weekend, however, Mr Skinner, a former Shell executive, pulled out after becoming embroiled in a damaging boardroom split over the direction of Rio, which is struggling to deal with its $38 billion (£27 billion) debt pile.

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Bird Strike Was Likely Cause of Chopper Crash

The chopper was being used by Royal Dutch Shell PLC’s U.S. unit, to transport workers to offshore facilities in the Gulf of Mexico. After the crash, Shell temporarily grounded its entire fleet of S-76C choppers, and instead used boats to transport most of those workers.

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Investors and boards on the brink of war

I have some sympathy for Skinner on this score. He is an honourable chairman of the old school and will stay at Rio to see this issue through, although losing the chairmanship of BP will be a personal blow as he also missed out on the chairmanship of Shell, where he spent much of his career.

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Gazprom to Open First LNG Plant

Gazprom bought control of the $22 billion project after a prolonged crisis that forced Royal Dutch Shell, the project’s former leader, and its partners to reduce their holdings. Analysts had expected that the battle would lead to delays. Shell is now a minority shareholder along with Japan’s Mitsubishi and Mitsui.

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Shell following Paddy Briggs advice in New Zealand?

One of New Zealand’s biggest petrol brands, Shell, is considering selling most of its New Zealand operations.

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