November 15th, 2007:

By Angela Macdonald-Smith

 Nov. 15 (Bloomberg) — Woodside Petroleum Ltd., Australia’s second-largest oil and gas producer, cut its forecast output for next year by as much as 20 percent because of slower start-ups of new projects and the sale of fields in Africa.

The expected production of 80 million to 86 million barrels of oil equivalent will still be about 15 percent above this year’s output, Don Voelte, chief executive officer of Perth-based Woodside, said today. After 2008 output may not rise again until 2011, he said. The shares dropped the most in six years. read more

Reported by: Keith Whitney
Web Editor: Michael King
Last Modified: 11/15/2007 12:05:01 AM

The president of Shell Oil was in Atlanta Wednesday night on the last stop of a 50 city tour to talk about the energy crisis, and what Americans plan to do about it.

Just nine years ago, oil was at $8 per barrel, and gas was half of what it is now. The president of Shell, John Hofmeister, is warning Americans the next ten years could bring an economic nightmare of something is not done.

Every second, Americans use enough oil to fill a swimming pool — 840 million gallons. Eighty percent of the gas in most cars generates heat and fumes, not motion. In jets, it is even worse, with more than 90 percent of all fuel lost because of inefficient engines. And by every measure, the price of fuel is only going up. read more

‘Good Morning America’ asks president of Shell Oil if he could ‘cut back’ on profits.

By Genevieve Ebel
Business & Media Institute
11/14/2007 3:40:36 PM

Gas prices have been going up, and at least one grandmother is upset. 

“Why am I spending my grandchildren’s college money so I can drive this car? Why? What is – what is the reason for this?” she asked on the November 14 “Good Morning America.” 

To answer her question, the ABC morning show pressed the president of Shell Oil, John Hofmeister.  read more

Cnooc Is Likely Bidder
For Stake in Project
On North West Shelf

By DAVID WINNING and BENOÎT FAUCON
November 15, 2007; Page A16

Royal Dutch Shell PLC is considering the sale of its oil assets in Australia’s North West Shelf, two people familiar with the matter said, in a move that is likely to attract Chinese interest.

Shell is examining the potential value of its 16.67% stake in the oil-output arm of the North West Shelf project, namely the Cossack Pioneer field, which produces 100,000 barrels of crude a day, the people said. read more