Oil Rises to Record Above $125 as Nigeria Cuts Curb U.S. Supply

Posted on May 9, 2008 by John Donovan.
Categories: Bloomberg, Nigeria, Oil Prices.

Nigeria production, which fell to the lowest level in a decade in April, has been cut a further this month by rebel assaults on Royal Dutch Shell Plc pipelines. OPEC said yesterday it doesn’t need to increase supplies, even as its president warned prices may reach $200 a barrel.

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Crude Oil Rises to Record Above $124 a Barrel on Supply Concern

Posted on by John Donovan.
Categories: Bloomberg.

Royal Dutch Shell Plc’s Nigerian crude output has been cut by militant attacks and may return within two weeks, a government official said yesterday.

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Chevron, 11 Oil Companies to Pay $423 Million in MTBE Lawsuits

Posted on May 8, 2008 by John Donovan.
Categories: Bloomberg, Litigation, Pollution, Wikipedia.

The settling companies include units of Royal Dutch Shell Plc, Europe’s biggest oil company, ConocoPhillips, the second- largest U.S. refiner, Marathon Oil Corp., the fourth-largest U.S. oil company, Valero Energy Corp. and Sunoco Inc. Chevron is the second-largest U.S. oil company. BP is Europe’ssecond- largest oil company.

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Shell Says Nigeria Security, Funding Gap Prevent End to Flaring

Posted on May 7, 2008 by John Donovan.
Categories: Bloomberg, Pollution, Shell.

May 7 (Bloomberg) — Royal Dutch Shell Plc, Europe’s biggest oil company, said it’s unable to meet a 2008 deadline to end gas- flaring in Nigeria because of a lack of security in the region and funding shortfalls

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Petrobras Hiring 14,000 Geologists, Roughnecks for New Fields

Posted on by John Donovan.
Categories: Bloomberg.

May 7 (Bloomberg) — Petroleo Brasileiro SA, Brazil’s state-controlled oil company, plans to add 14,000 engineers, geologists and roughnecks within three years as it develops the biggest crude discovery in the Western Hemisphere since 1976.

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Oil Rises to a Record $122.73 on Nigeria Attack, Demand Growth

Posted on May 6, 2008 by John Donovan.
Categories: Bloomberg.

Royal Dutch Shell Plc said a militant attack over the weekend damaged a pump station in Nigeria, where violence has cut exports from Africa’s biggest oil producer.

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Oil Trades Near $120 After Rising to Record on Demand Outlook

Posted on by admin.
Categories: Bloomberg.

A weekend attack in Nigeria, Africa’s biggest oil producer, forced Royal Dutch Shell Plc to reduce output, the Associated Press reported May 3, citing the company. The Movement for the Emancipation of the Niger Delta, or MEND, claimed responsibility for the assault.

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Oil Rises Above $120 to Record on Concern Over Nigeria Attacks

Posted on May 5, 2008 by admin.
Categories: Bloomberg.

May 5 (Bloomberg) — Crude oil rose above $120 a barrel to a record in New York on concern that production disruptions in Nigeria, Africa’s biggest producer, will limit supplies.

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Oil Trades Above $116 on Nigerian Supply Concern, U.S. Demand

Posted on by admin.
Categories: Bloomberg.

Rebel attacks on an oil-transfer facility in Africa’s biggest producer have forced Royal Dutch Shell Plc to reduce output, the Associated Press reported May 3, citing the company.

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Obama May Levy $15 Billion Tax on Oil Company Profit

Posted on May 2, 2008 by admin.
Categories: Bloomberg, Uncategorized.

Democratic presidential candidate Barack Obama’s proposal for a windfall profits tax on oil companies could cost $15 billion a year at last year’s profit levels, a campaign adviser said. The plan would target profit from the biggest oil companies by taxing each barrel of oil costing more than $80, according to a fact sheet on the proposal.

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