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Daily Telegraph: Database: Energy

Energy

• Royal Dutch Shell, Europe's second-largest oil company, said it will open a $8.3m financial and accounting centrein Poland, taking advantage of lower costs for skilled labor.

Faroe Petroleum, a UK.-based oil and gas company, raised £25m by selling its own shares to fund an expansion into Norwegian exploration and production as well as its existing licences.

Shares of Empyrean Energy, a UK-based oil and gas explorer, rose by 21pc after the company announced the discovery of “good oil” at its Eagle North-1 well in California.

• Exxon Mobil, the world's largest oil company, raised former chairman Lee Raymond's pay by 29pc last year to $48.9m as soaring energy prices led to the largest annual profit ever for a US company.

Turkey invited proposals from the country's biggest companies to build its first nuclear reactor, as part of an effort to supply energy for its fast-growing economy and reduce its almost-total dependence on imports for power.

Nederlandse Gasunie, the manager of the Dutch natural- gas network, said an investigation into accusations it paid bribes in connection with a new pipeline found that nothing unethical occurred.

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