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Posts Tagged ‘Oil’

Showa Shell to raise oil export capacity - source

TOKYO, Dec 16 (Reuters) - Showa Shell Sekiyu, Japan’s fifth-biggest oil refiner, has been making efforts to boost its oil export capacity to make up for a shrinking domestic market, a company source said.

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Drop in China’s oil demand pressures Opec to cut production

China’s once ravenous hunger for energy is weakening at a record rate, compounding the pressure on Opec to slash global oil production this week by as much as two million barrels a day to prevent a glut.

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Shell Niger Delta File Shows Legacy Of Broken Promises

LONDON (Dow Jones)–A Royal Dutch Shell PLC (RDSB.LN) venture’s internal review reveals a history of unfulfilled promises to communities in the Niger Delta, with 766 pledged development projects by the company either unfinished or never started.

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Nigeria gas issue flares up

Royal Dutch Shell — the largest foreign firm operating in Nigeria — and other companies operating in the oil- and gas-rich Niger Delta claim, however, that they cannot comply with protocols calling for an end to the practice by the end of the year because of the continuing violence in the region, which they say prevents them from installing the required infrastructure to curtail flaring.

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BP Exploration to Spend $1.2B in Alaska in ‘09

BP Exploration (Alaska) Inc. will spend $1.2 billion on capital projects in Alaska in 2009, a 30 percent increase over the $900 million spent in 2008, a company spokesman said Dec. 2. The increase comes even as BP suspends some marginal Prudhoe Bay field projects because of lower crude oil prices and state tax effects.

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Tossing Capex Over the Side

Chesapeake is facing the reality of contracting energy demand and credit availability. Several of its peers, from Royal Dutch Shell to Apache Corp., have also delayed new projects until energy demand, and prices, stabilize.

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Showa Shell Seikyu looks to solar power

Arai also had specific comments regarding the future roles of his firm’s leading shareholders—Royal Dutch Shell PLC and Saudi Aramco.

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Nippon Oil agrees merger with rival

Takashi Enomoto, analyst at Merrill Lynch, said the proposed merger could induce Japan’s four other big refiners, which include arms of ExxonMobil and Royal Dutch Shell, to seek tie-ups of their own.

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Chevron May Sell Refineries as Demand, Margins Shrink

Chevron Corp., the world’s fourth- largest oil company, may sell some refineries as recessions in the world’s largest economies cut demand for gasoline and diesel, squeezing fuel-production margins.

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Gunmen attack vessels in Nigeria’s restive delta

Gunmen attacked two oil services vessels in separate incidents in Nigeria’s restive Niger Delta on Thursday, kidnapping a Russian, a Mexican and seven Nigerians, security sources working in the industry said.

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