Royal Dutch Shell Plc  .com Rotating Header Image

The Independent on Sunday: $10bn ExxonMobil given regulator’s all-clear

Published: 15 July 2007

Controversial Russian environmental regulator Oleg Mitvol has given the all-clear to ExxonMobil over its $10bn (£5bn) Sakhalin I oil and gas project. Mr Mitvol said the results of his inspections, due out later this month, had not uncovered any major problems. This means it is less likely that the US company will be forced to dilute its 30 per cent stake or stop operating altogether. Mr Mitvol targeted Shell, which had to cede control of the larger Sakhalin II project to Gazprom.

“OK,” he said, “the company [ExxonMobil] has a technical problem but not critical like Sakhalin II.”

ExxonMobil still faces opposition from Gazprom over its plans to build an export pipeline to China. Mr Mitvol also signalled that the pressure was off the Sakhalin II project: “A new problem, we don’t think about. We think about better renovation for nature.”

http://news.independent.co.uk/business/news/article2770919.ece

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “The Independent on Sunday: $10bn ExxonMobil given regulator’s all-clear”

Leave a Comment

%d bloggers like this: