ABUJA, Nigeria -- Nigeria's acting president on Monday called for the passage of a bill that analysts say would sharply reduce the profits of foreign oil companies.Acting President Goodluck Jonathan said the Petroleum Industry Bill before lawmakers would allow more oil money to return to Nigeria's people. The bill would also require the government-run Nigerian National Petroleum Corp., to seek profits like a private business and not rely on government subsidies.
February 23rd, 2010:
Nigeria: Acting president promises oil overhaul
Nigeria oil reform would worsen bad situation -Shell
ABUJA, Feb 23 (Reuters) - Nigeria's proposed oil industry reforms could drive away $50 billion in investment if passed in their current form and make a bad situation for the sector even worse, Royal Dutch Shell (RDSa.L) said on Tuesday.
Shell Africa chief attacks Nigeria levies
By Tom Burgis in Abuja
Published: February 23 2010 12:52
Royal Dutch Shells outgoing Africa chief on Tuesday delivered a blistering attack on Nigerias management of its vast oil and gas reserves but scotched rumours that the Anglo-Dutch group was looking to leave the country.
Echoing industry claims that planned legislation could deal a killer blow to investment in the fast-expanding deepwater sector, Ann Pickard, whose four-and-a-half-year tenure as Shells Africa boss ends in March, warned the continents biggest energy producer that it risked being eclipsed by its sub-Saharan African rivals.
Shell to Seek 800 Million-Euro Offers for LPG Unit
By Anne-Sylvaine Chassany and Fred Pals
Feb. 23 (Bloomberg) — Royal Dutch Shell Plc, which is seeking to focus on exploration and production, may sell its liquefied petroleum gas distribution unit, four people with knowledge of the plan said.
Shell hired Credit Suisse Group AG to manage a sale of the division, which is valued at more than 800 million euros ($1.1 billion), said three of the people, who declined to be identified because the talks are private. The company sent information last week to potential bidders including private equity firms, they said. Rainer Winzenried, a spokesman for The Hague-based Shell, declined to comment.
Angola offshore oil to be double Nigeria’s by 2020 -Shell
Tue Feb 23, 2010 9:55am GMT
ABUJA, Feb 23 (Reuters) – Angola’s offshore oil production is likely to be double that of Nigeria by 2020, Royal Dutch Shell (RDSa.L) said on Tuesday.
The two countries rival each other as Africa’s biggest oil producer, but oil majors say Nigeria risks losing out if changes to its terms make it less profitable to develop deep water reserves.
“By 2020, Angola’s offshore production is likely to be double that of Nigeria,” Shell’s Executive Vice President for sub-Saharan Africa, Ann Pickard, told an industry conference in Abuja.
As Schlumberger buys Smith, the price of oil services is set to rise
Financial Times
February 22, 2010 7:56pm
by Ed Crooks
Schlumbergers $12bn deal to buy fellow oil services company Smith International, announced on Sunday night and discussed by Andrew Gould, Schlumbergers CEO, on Monday, looks like a turning point. From now on, the cost of oil services seems more likely to rise than fall.One possible reason for that is that the deal will restrict competition. Anti-trust authorities will undoubtedly take an interest, especially in the US, where the two companies paid a $14.6m fine a decade ago for anti-trust violations. The deal will further extend Schlumbergers dominance of the global oil services business, creating a group with more employees than ExxonMobil, BP or Royal Dutch Shell.
Indian Energy Firms Pursue Assets Abroad
Following on its international acquisitions in steel and outsourcing in recent years, Essar is in talks with Shell to pay as much as $1 billion for three oil refineries in the U.K. and Germany, people close to the situation say. Last year, the company bought out the 50% stake that Shell, BP PLC and Chevron Corp. owned in a major refinery in Kenya.
Shell Internet Censorship
“One of the principles underlying all of our work on the Web has been that we should be true to the spirit of New Shell. This means that we are seen to be open, listening, interested in the views of others…”: SHELL CENSOR – MARCH 1999
Shell Internet Censorship
By John Donovan
Printed below is a Shell internal email sent in March 1999. Shell was obliged to supply it to us in accordance with an application we made under the UK Data Protection Act. The “X’s” denote sections redacted (censored) by Shell, which includes the name of its author and apparently an extensive circulation list – 4 lines deep.