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Shell News Archive Tuesday 21 December, 2004

Shell News Archive Tuesday 21 December, 2004

THE NEW YORK TIMES: Yukos Auction Deepens Doubts of Investors: “MOSCOW: It took less than six minutes on Sunday to drive Russia back in time.”: “After successfully luring billions of dollars from foreign investors who believed that capitalism was finally making strides in Russia, Moscow switched directions on Sunday with a snap auction to dismantle the oil giant Yukos that set off criticism both at home and abroad.”: “Stanislav A. Belkovsky, president of the National Security Institute in Moscow, said on Monday that it was “just a deal for the redistribution of property by a criminal group with a mission to get control over the basic financial flows of the country, just as in the 1990’s.”: “As for President Vladimir V. Putin, Mr. Belkovsky added, “We should view him this way: as the chief of this criminal group.” (ShellNews.net) 21 Dec 04

Seattle Post Intelligencer: Nigerian white-collar oil workers strike: “Royal/Dutch Shell, representing nearly half of the country’s 2.5 million barrels of daily exports, said its petroleum flowed unabated out of Nigeria.” (ShellNews.net) 21 Dec 04

Financial Times: Dual float for Questair: “Its biggest shareholder after the flotation will be Shell Hydrogen, which is concerned with the commercialisation of hydrogen as a fuel.” (ShellNews.net) 21 Dec 04

Lloyds List: Energy Briefs: “SHELL has started oil production from its West Salym field in Western Siberia, one year ahead of schedule. The Anglo-Dutch oil major has commissioned the central processing facility and export pipeline tied into the Transneft export pipeline system. Shell’s partner in the project is London-listed independent Sibir Energy. Production is expected to peak at 120,000 barrels per day in 2009.” (ShellNews.net) 21 Dec 04

Daily Telegraph (UK): Investors in Sibir agree fee of £15m: “However, Mr Cameron stressed that Mr Tchigirinski’s fee was half the price charged by banks. He said that without the fresh funds Sibir would have had to hand its 50pc stake in the 800m barrel Salym oil fields to Shell. “We had to find $130m to meet our share of the Salym development to avoid dillution by Shell,” Mr Cameron said.” (ShellNews.net) 21 Dec 04

Financial Times: Tullow buys two North Sea gas fields: “Tullow Oil has taken its spending this year to more than $1bn (£514m) with the £200m cash purchase of two North Sea gas fields from Royal Dutch/Shell and ExxonMobil.” (ShellNews.net) 21 Dec 04

THE TIMES (UK): Tullow raises the stakes in battle of oil independents: “Tullow Oil yesterday threw down the gauntlet to Cairn Energy, the incumbent, after spending £200 million buying the Schooner and Ketch North Sea gasfields from Shell and ExxonMobil” (ShellNews.net) 21 Dec 04

Daily Telegraph (UK): Lock in gains at Tullow Oil: “After warning in September that Britain faces a winter of blackouts caused by low gas supplies, Aidan Heavey, the chirpy Irish chief executive of Tullow Oil, decided to make some money from it. Yesterday, he snapped up over 1.1 trillion cubic feet of gas reserves in the North Sea, 28 kilometres off the coast of Lincolnshire, for £200m from Shell and Exxon. (ShellNews.net) 21 Dec 04

The Guardian (UK): Tullow grabs £200m North Sea gas territory: “Tullow Oil has again demonstrated its growing ambitions – this time by scooping up pounds 200m worth of gas fields in the North Sea from Shell and partner ExxonMobil.” (ShellNews.net) 21 Dec 04

DAILY EXPRESS NEWS (Malaysia): Shell ready to develop new oil finds off Sabah: Shell Malaysia has secured the funds it needs to develop two new oil fields discovered off Sabah this year, its Chairman Datuk Jon Chadwick said here Sunday. (ShellNews.net) Posted 21 Dec 04

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