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Citigroup predicts Shell production drop

BP Plc, Europe’s second-biggest oil company, may post second-quarter earnings that are “more resilient” than bigger rival Royal Dutch Shell Plc because it’s less affected by weak demand for natural gas in Europe, Citigroup Inc. said.

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Oil Little Changed as IEA Cuts Forecast, Nigeria Rebels Attack

The Movement for the Emancipation of the Niger Delta rebel group said they attacked Shell’s Forcados offshore oil facility at 3:30 a.m. local time today.

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Nigerian Militants Reject Amnesty, Say Key Issues Not Addressed

June 27 (Bloomberg) — The Movement for the Emancipation of the Niger Delta, the main armed group in Nigeria’s oil region, said it rejected a government amnesty offer because it failed to address key issue

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Russia to Cooperate With Shell on Sakhalin 3 and 4

June 27 (Bloomberg) — Russia is prepared to cooperate with Royal Dutch Shell Plc, Europe’s largest oil producer, on oil and gas projects in the Russian Far East known as Sakhalin-3 and Sakhalin-4, Russian Prime Minister Vladimir Putin said.

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Nigerian Militants Say They Attacked Shell After Amnesty Offer

June 26 (Bloomberg) — The Movement for the Emancipation of the Niger Delta, the main militant group in Nigeria’s southern oil region, said it attacked an oil facility run by Royal Dutch Shell, hours after an offer of an amnesty by President Umaru Yar’Adua.

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Oil Rises a Second Day on Equity Gains, Shell Pipeline Attack

Militants said yesterday they attacked a Royal Dutch Shell Plc pipeline supplying an export terminal in Nigeria, Africa’s largest producer.

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Showa Shell Rises to Nine-Month High on Solar Project

June 24 (Bloomberg) — Showa Shell Sekiyu KK, a Japanese refiner and solar-equipment maker, rose to the highest in nine months after saying it will build solar plants in Saudi Arabia to expand its alternative energy business.

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Gazprom may work with Shell to build an LNG plant in Yamal

“We can advance on Yamal projects,” Medvedev told reporters today in Amsterdam, after meeting with Dutch Prime Minister Jan Peter Balkenende. Medvedev also met with Shell Chief Executive Officer Jeroen van der Veer, praising the company’s Sakhalin-2 project with OAO Gazprom for producing Russia’s first liquefied natural gas this year.

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Nigerian Rebels Claim to Destroy Shell Crude Pipeline

Bloomberg.com

By Aaron Sheldrick

June 18 (Bloomberg) — Nigerian rebels said they destroyed a “major” crude oil pipeline in Bayelsa state owned by Royal Dutch Shell Plc, Europe’s biggest oil company, according to an e-mailed statement.

High explosives were used to breach the delivery line for the Forcados export terminal at 8:30 p.m. yesterday, the Movement for the Emancipation of the Niger Delta said in the statement today. Crude oil rose after the statement was issued.

“Shell should take a cue from Chevron and vacate the Niger Delta region to avoid collateral damage to their investment and death to staff,” rebel spokesman Jomo Gbomo said in the statement.

Shell told customers Nigerian shipments will be disrupted for a fifth month in July as violence escalates in Africa’s largest oil producer, spokesman Precious Okolobo said yesterday. A Shell spokeswoman in London said she couldn’t immediately comment on the attack and the company may release a statement later today.

A government offensive against armed groups since May has resulted in intense fighting in the western part of the oil- producing Niger delta region, where the Forcados terminal is located. Militant attacks have cut Nigeria’s oil exports by more than 20 percent since 2006. Nigerian crude is the light sweet variety of oil favored by U.S. gasoline refiners.

The latest attack was carried out on what the rebels called the Agge/Odimodi axis of the line which is fed by the Tunu, Opukusu and Ugbotubu flow stations, the rebel statement said. Forcados oil terminal is located about 258 kilometers (160 miles) southeast of Lagos on the delta of the Niger river.

Crude oil for July delivery rose as much as 50 cents, or 0.7 percent, to $71.53 a barrel on the New York Mercantile Exchange. It was at $71.35 a barrel at 8:45 a.m. Singapore time. Prices are up 60 percent this year.

To contact the reporter on this story: Aaron Sheldrick in Tokyo atasheldrick@bloomberg.net.

Last Updated: June 17, 2009 22:25 EDT 

BLOOMBERG ARTICLE

Exxon Set to Tap ‘Enormous’ Slochteren Field for 50 More Years

Exxon operates the field with Royal Dutch Shell Plc, Europe’s biggest oil company, through Nederlandse Aardolie Maatschappij.

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