• Shares of Exxon Mobil, the world’s biggest corporation, had their largest annual increase since 1980 as the company boosted oil production and crude prices rose to an all- time high.
• Royal Dutch Shell will cut its proven oil and gas reserves by more than 4pc when it gives up half its stake in Russia’s Sakhalin-2 venture, analysts said.
• Gazprom, Russia’s natural-gas export monopoly, is continuing talks with Belarus to avoid a Jan. 1 cutoff that could curb deliveries to Europe.
• Empyrean Energy, a UK-based oil and gas explorer with projects in the US and Germany, said it made a net loss in the six months through Sept. 30 on rising administrative costs.
• Rosneft is in talks with Royal Dutch Shell, ConocoPhillips and three other non-Russian companies on developing a field in the Black Sea, Interfax said, citing an unidentified person familiar with the talks.
• Centurion Energy International, the Canadian oil company that’s being acquired by a United Emirates-based energy company, announced the termination of plans by Royal Dutch Shell to help it explore for natural gas in Egypt’s Nile Delta.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/12/30/cxbloom30.xml
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