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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 […]

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