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Posts on ‘February 23rd, 2010’

Nigeria: Acting president promises oil overhaul

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.

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 Shell’s outgoing Africa chief on Tuesday delivered a blistering attack on Nigeria’s 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 [...]

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 [...]

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 [...]

As Schlumberger buys Smith, the price of oil services is set to rise

Financial Times February 22, 2010 7:56pm by Ed Crooks Schlumberger’s $12bn deal to buy fellow oil services company Smith International, announced on Sunday night and discussed by Andrew Gould, Schlumberger’s 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 [...]

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 [...]