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Posts from ‘June, 2010’

Vultures circle BP over fears its days are numbered in US

Oil firm’s shares surge 9% after speculation prompts takeover talk Terry Macalister: Wednesday 30 June 2010 18.57 BST A protester demonstrates at a BP petrol station in Manhattan. The company has been vilified in the US. Photograph: Mary Altaffer/AP In the past an almost double-digit percentage increase in the BP share price would have signalled […]

A warning about Aviva car insurance

By John Donovan A couple of days ago I made a telephone call to Aviva to notify the company I was switching to another car insurer. I had discovered that similar, although not identical comprehensive cover, could be obtained from a competitor at a lot less than half of the comprehensive insurance premium I was […]

Exxon or Shell should buy BP for £88bn, says analyst

Daily Telegraph: BP’S share price fell by a further 2pc, after a prominent City expert suggested it should be bought by US rival Exxon Mobil in the wake of the Gulf of Mexico oil spill. By Rowena Mason, Energy Correspondent 30 June 2010 A sea turtle covered in oil from the Deepwater Horizon oil spill […]

Will BP be bought by a US rival? I doubt it

Daily Telegraph Given America’s dislike, nay hatred, of BP it would be ironic if a US company ended up buying it. By Damian Reece, Head of Business Published: 7:00AM BST 30 Jun 2010 US oil company Exxon Mobil has been touted as a possible buyer of BP But that’s exactly what analysts at JP Morgan […]

BP takeover talk resumes, bolstering shares

“In theory, either Exxon Mobil or RD Shell could consider a bid for BP” the analyst added. “They have similar business models and similar global asset structures. They also bear the lowest political risk to a potential combination with BP.”

Shell Brazil Unit Finds Oil In Campos Basin Presalt Well

RIO DE JANEIRO (Dow Jones)–The Brazilian unit of Royal Dutch Shell (RDSA, RDSA.LN) discovered oil in the Campos Basin’s presalt region, the company said Tuesday.

Exxon, Shell May Consider Possible Bid for BP, JPMorgan Says

By Fred Pals June 29 (Bloomberg) — Exxon Mobil Corp. and Royal Dutch Shell Plc may consider bidding for BP Plc after the London-based oil company lost more than half of its market value in the wake of the Gulf of Mexico oil spill, JPMorgan Cazenove Ltd. said. Exxon Mobil has the stronger balance sheet […]

Iraq Cabinet Approves Shell Gas Deal In S Iraq-Official

THE WALL STREET JOURNAL JUNE 29, 2010 By Hassan Hafidh Of DOW JONES NEWSWIRES The Iraqi cabinet Tuesday approved a deal with Royal Dutch Shell PLC (RDSA) and Mitsubishi Corp. (8058.TO) to develop a gas-structure project in southern Iraq, paving the way for a final signature of the multibillion deal, a government spokesman. Ali al-Dabbagh […]

BP, Arts sponsorship – and the fat cats…

Paddy Briggs’ letter, published in “The Guardian” 28th June 2010 It is understandable that, as you report, many artists and green groups are protesting against arts institutions receiving sponsorship from BP – but it is important to describe what such corporate charitable donations are – and what they are not. They are not in any […]

Deepwater Horizon – an independent assessment

My compliments to Panorama and your programme “How on earth did this happen” Please see the attached analysis sent to the US investigators and Professor Robert Bea who according to CBS News 60 minutes has a role in collating survivors testimony and the Chemical Safety and Investigation Board (CSB) tasked I understand to investigate the […]

Shell declines to comment on alleged industrial espionage targeting U.S. Navy Dept

By John Donovan Printed below is email correspondence with Mr Richard Wiseman, Chief Ethics & Compliance Officer of Royal Dutch Shell Plc. I am grateful to him for his response. It seems reasonable to conclude in view of his response, that there is substance to astonishing allegations of Shell industrial espionage in the USA directed […]

Shell protects interests in drilling rig takeover

Daily Telegraph Shell has protected crucial oil drilling interests in a deal involving two of the biggest companies in the business. By Roland Gribben Published: 5:30AM BST 29 Jun 2010 Noble, the most important in the market after Transocean, is paying $2.16bn (£1.43bn) cash for Frontier, a Norwegian rival which has been developing a powerful […]

New York Fed probes Wall Street exposure to BP: sources

REUTERS Joshua Schneyer and Kristina Cooke NEW YORK Mon Jun 28, 2010 4:59pm EDT (Reuters) – The Federal Reserve Bank of New York has been probing major financial firms’ exposure to BP Plc to ensure that if the oil giant buckles under the costs of the Gulf oil spill, it won’t put Wall Street or […]

Spain’s Repsol pulls out of Iran gas project

REUTERS MADRID June 28 (Reuters) – Spain’s largest oil company Repsol (REP.MC: Quote) has pulled out of a contract it won with Royal Dutch Shell (RDSa.L: Quote) to develop part of the South Pars gas field in Iran, a spokesman said on Monday. A spokesman for Shell declined to confirm whether the company will remain […]

Stock and bond markets nervous about a possible BP bankruptcy

BP’s Corner-Cutting Extends to Its Finances: Alice Schroeder Commentary by Alice Schroeder June 28 (Bloomberg) — Once perceived as a fortress built on low leverage and strong cash flows, BP Plc seems to have managed its balance sheet much the way it ran exploration projects — dangerously. Projections the company is feeding investors about how […]

Total joins petrol embargo of Iran as sanctions loom

By Carola Hoyos and Javier Blas in London and Daniel,Dombey in Washington Published: June 28 2010 03:00 | Last updated: June 28 2010 03:00 Total has become the latest big oil company to halt petrol sales to Iran, just days before Barack Obama, the US president, signs into law sanctions targeted at Tehran’s reliance on […]

Shell: deep-water oil drilling will go on

• Voser says rising demand forces search for new sites • Storm threatens clean-up operation of BP’s Gulf spill Graeme Wearden: Sunday 27 June 2010 19.09 BST A heavily-oiled bird is rescued from the waters of Barataria Bay, which are laden with oil from the Deepwater Horizon spill. Photograph: Gerald Herbert/AP Royal Dutch Shell‘s boss, […]

Shell Corrib protester Maura Harrington jailed again

Maura Harrington (right), a local Shell to Sea campaigner was arrested on her way home yesterday from a funeral in Mayo, and taken to prison for refusing to pay fines relating to ‘offences’ while engaged in protests against Shell’s experimental raw gas pipeline and inland refinery. Shell to Sea is a campaign based in Erris, […]

Royal Dutch Shell: deep drilling must continue

Associated Press. 06.27.10, 12:30 PM EDT CAPE TOWN, South Africa — Royal Dutch Shell says rising demand means deep-water drilling must continue, but that competitor British Petroleum’s massive Gulf of Mexico spill offers lessons. At a business and political forum in Cape Town, Royal Dutch Shell PLC ( RDSA – news – people ) chief […]

Shell employee kidnapped in Nigeria: army

(AFP) – Sunday 27 June 2010 LAGOS — Nigerian kidnappers have seized a local employee of Anglo-Dutch oil group Shell in the country’s oil hub of Port Harcourt, a military spokesman said Sunday. “I heard that a Shell worker has been kidnapped in Port Harcourt. But I don’t have the details,” Colonel Timothy Antigha, spokesman […]

Deep waters obscure case for oil investment

By Neil Hume Published: June 25 2010 18:47 | Last updated: June 25 2010 18:47 Extracts: At the very least investors should now be more wary of investing in a sector where a company the size of BP can see its share price halve in a little over two months and come under such political […]

My pipe dream that was a big nightmare

THE SUNDAY TIMES Shell chief Terry Nolan is confident that despite being a decade late and three times over budget, Corrib will win over its critics Mark Paul Published: 20 June 2010 Like another oil firm in big trouble at the moment, Shell caused a lot of upset, which Nolan accepts. ‘If I was doing […]

Royal Dutch Shell holds board meeting in Doha

Saturday, 26 June 2010 22:09 DOHA: The Board of Directors of Royal Dutch Shell plc has met in Doha, underlining the importance of the country as a new heartland for Shell. Chairman Jorma Ollila, Chief Executive Officer Peter Voser and other senior Board members were received during their visit by Deputy Premier and Minister of […]

SHELL DOWNSTREAM MI SYSTEM

Posting on Shell Blog by IT4me on Jun 26th, 2010 at 8:50 pm THE CHANGE CONTROL DIKTAT To make any change to a Downstream MI system today you start by filling-in a stack of forms. Each contains a multitude of questions, including some risible ones of the “are you a terrorist?” variety. You collect signatures, […]

BP has hired bankruptcy attorneys in New Orleans?

Class Derides BP’s ‘Culture of Safety’ By SABRINA CANFIELD NEW ORLEANS (CN) – While BP’s top U.S. official said he stands by BP’s “culture of safety” and said BP’s practices are the same as those “deployed by the other companies out there,” a federal class action claims that BP refineries in Texas and Ohio have […]

BP turns down Shell cleanup vessel for Gulf of Mexico spill

msnbc.com by Ted Land Friday, June 25, 2010 ANCHORAGE, Alaska — Some people are disappointed that BP is passing up an important tool in its response to the Gulf of Mexico oil spill. Shell Oil’s sophisticated cleanup vessel, the Nanuq, could be on its way to the gulf — but instead it’s docked in Seward, […]

BP’s Eventual Bankruptcy Is Certain

What they’re still touting as the “worst environmental disaster in US history” is quickly growing up into the worst environmental disaster in the history of humanity. Seeking Alpha June 25, 2010 There is no doubt that BP (BP) will not emerge from this oil spill disaster intact. Make no mistake – this is the fatal […]

Iran Says Door Still Open To Shell But Repsol Pulled Out

THE WALL STREET JOURNAL JUNE 26, 2010 LONDON (Dow Jones)–Iran is leaving the door open to Royal Dutch Shell PLC (RDSA, RDSB, RDSA.LN, RDSB.LN) to join a giant gas project but Repsol YPF (REP, REP.MC) has completely pulled out, a top government official said Friday. The statement comes after state-owned Pars Oil and Gas Co. […]

Oil Companies Stock Up On Cash Ahead Of An Uncertain Future

THE WALL STREET JOURNAL JUNE 25, 2010 By Chris Dieterich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)–Oil giants are ramping up their borrowing, braving higher interest rates in order to lock down funding as a hedge against further turmoil in their industry or in credit markets, traders and analysts said. Facing possible further legislative […]

BP oil spill: shares slump further as hurricane fears rise

Telegraph.co.uk: BP shares slumped to their lowest level in 14 years on Friday on concerns that a hurricane next week could worsen the impact of the spill as it hampers clean-up work. Published: 25 Jun 2010 The shares were down more than 7pc at just over 300p in early trading and have now fallen more […]

Garage card scammer jailed

TheRegister 35,000 card details snaffled By John Oates 23rd June 2010 12:37 GMT Theogenes De Montford, 29, of Blandford Way, Hayes has been sentenced to four and a half years for his role in one of the UK’s biggest chip and pin scams. The gang put card cloning equipment on pin entry handsets at petrol stations […]

UAE wants Shell for Shah after Conoco exit-sources

DUBAI, June 23 (Reuters) – The United Arab Emirates’ would like Royal Dutch Shell (RDSa.L) to step in as its partner at the $10 billion Shah gas project after U.S. major ConocoPhillips (COP.N) withdrew, industry sources in the UAE said on Wednesday.

Global gas demand to rise 25 pct by 2020 -Shell exec

REUTERS June 24 (Reuters) – Global gas demand is still set to increase by one quarter by 2020, despite uncertainty about the recovery of industrial demand for the cleanest-burning hydrocarbon, a Royal Dutch Shell (RDSa.L) executive said on Thursday. “Gas industry conditions remain tough. The recovery is still fragile,” De la Rey Venter, Shell’s global […]

Shell: Saudi Arabia May Benefit From LNG Imports

THE WALL STREET JOURNAL JUNE 24, 2010 LONDON (Dow Jones)–Saudi Arabia, the world’s largest energy producer, may benefit from importing liquefied natural gas to boost domestic supply and maximize profits from oil exports, a Royal Dutch Shell PLC (RDSB) executive said Thursday. “In an environment where much crude and fuel oil is being burnt up […]

Before Rig Explosion in Gulf, Scant Difference Between BP and Other Drillers on Safety

By MIKE SORAGHAN of Greenwire Published: June 24, 2010 To look at the safety records of the offshore drilling companies before the Deepwater Horizon rig exploded and sank on April 20, there was little difference between BP America Inc. and its peers in the deep waters of the Gulf of Mexico. According to a Greenwire […]

Russia’s oil exploration threatens gray whales

Postponing seismic work may help the whales recover, say scientists BBC NEWS Oil exploration plans in eastern Russia are a serious threat to gray whales in the area, say scientists with the International Whaling Commission (IWC). The Rosneft company is due to begin a seismic survey around Sakhalin island within the next few weeks. The […]

Relief wells may not stop Deepwater Horizon oil leak

examiner.com: Experts agree BP oil well casing has failed: Relief wells may not stop Deepwater Horizon oil leak June 23, 9:41 PMPolitical Spin ExaminerMaryann Tobin There is an increasingly real possibility that we may never be able to stop the gushing hole left in the Gulf sea floor unleashed by the Deepwater Horizon. Former president […]

U.S. judge rules against White House on drilling ban

REUTERS * A victory for drillers, White House to challenge ruling * Interior Dept to issue new order for moratorium * Offshore operators say they await appeal outcome By Mary Rickard NEW ORLEANS, June 22 (Reuters) – A U.S. judge ruled on Tuesday against the six-month moratorium that President Barack Obama’s administration imposed on deepwater […]

US Gulf oil drilling ban overturned by federal judge

A ban on drilling was imposed following the BP oil rig explosion BBC NEWS A US federal court judge has blocked President Barack Obama’s six-month moratorium on deep water oil drilling in the Gulf of Mexico. The moratorium was put in place in the wake of the massive oil spill triggered by an explosion at […]

Pennsylvania votes to divest firms tied to Iran

PhillyDeals: Pa. House votes to divest firms tied to Iran By Joseph N. DiStefano The Pennsylvania House of Representatives voted unanimously Tuesday to make the state Treasury and pension funds dump stock worth more than $400 million in Royal Dutch Shell and dozens of other foreign companies.”If they want to do business with Pennsylvania’s pension […]