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Royal Dutch Shell Plc .com: Round-up of Energy News

From The Daily Telegraph: Database
(Filed: 04/07/2006)

A round-up of headlines from across the financial sectors, provided by Bloomberg News

Energy

• BP reported a fourth quarter of falling production as Venezuela appropriated more of its output. It also said a Texas refinery explosion was $500m (£270m) more costly than estimated.

• BAE Systems shares fell as much as 6.7pc after the stake in planemaker Airbus that it is selling to European Aeronautic, Defence & Space was valued at just €2.75bn (£1.9bn).

• The three BP traders accused by regulators of trying to corner the US propane market lost $10m, when they failed to sell their inventory, court documents show.

• Royal Dutch Shell said its Pernis oil refinery has not returned to normal production after problems were discovered during inspection and maintenance.

• Gazprom is considering taking a 9pc stake in a pipeline that will connect the Netherlands with Britain.

• British Nuclear Fuels said full-year profit rose 13pc after it cut costs.

• Oil and gas company Cairn Energy said it has gained approval from India to develop four fields in Rajasthan.

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