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The Times: Need to Know: Energy

  • Royal Dutch Shell, the Anglo-Dutch oil giant, blamed attacks by militants on pipelines in Nigeria and hurricanes in America for missing its goal of reducing oil spills in 2005. About 340 tonnes of oil flooded land in Nigeria in December.

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  • Regal Petroleum, the London-based oil and gas producer, said that it will shut its Ukrainian gasfields after losing a legal battle with CNGG, its former joint venture partner. Separately, Richard Griffiths, former chairman of Evolution Group, the broker behind Regal, has left the company with a final pay package of almost £3 million.
  • Platinum Mining Corp of India, the AIM-listed company, is facing a revolt from Steven Newbury, its former chief executive and largest shareholder, who has requisitioned a meeting to shake up the board.
  • BP is planning to sell its Dutch gas exploration and production operations which produce 1.8 million cubic feet of gas a day.
  • Bateman Litwin, which provides services to the oil, gas, power and chemical industries, has set a 180p-215p price range for its initial public offering, which will see the group raise about £55 million ahead of its flotation on AIM this month.

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