Shocks are occasionally necessary to change human behaviour. High prices are painful, but will ensure the world does not run out of oil.
June, 2008:
Peak oil or freak oil?
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Foresight and prices fuel BG’s power surge
These features could make BG a takeover target for a larger rival, such as Shell.
Refinery backers downplay impact of U.S. mayors
Shell Canada spokesperson Heather Cooper said it is far too early to predict whether the ban would impact the proposed refinery, which will process heavy crude from Albertas oil sands.
Canada, U.S. increasingly at odds over pollution issues
Other looming issues include:
Shell Canada's plans for a heavy-oil refinery near Sarnia that could produce 150,000 to 200,000 barrels per day of gasoline, diesel and jet fuel.
Starting of Kashagan oil extraction postponed for last time
The consortium consists of large international companies: Italia's ENI, France's Total, the English-Dutch corporation Royal Dutch-Shell, the American Exxon-Mobil and Conoco-Phillips companies, the Japanese corporation Inpex and Kazakhstans KazMunaiGaz.
Oil’s Latest Record: $140.21
The trifecta of skyrocketing crude-oil prices, slumping stocks and a weaker U.S. dollar haunts global markets...
Allegations in Russia Could Hurt BP Venture
A year earlier, Royal Dutch Shell was pressured to sell a controlling stake in the worlds largest oil and natural gas development, Sakhalin-2, to Gazprom. In that case, the government cited environmental damage in a pipeline project.
Russians are menacing to BP, says Mandelson
EU officials believe that the Russian shareholders will eventually sell their stake to Gazprom or another state-run entity. Their battle against BP is a ruthless attempt to drive up the multibillion-dollar price of any deal, they say.
Storm clouds gather over the West of Shetlands, Britain’s last gas frontier
Gordon Brown has made energy a priority for his Government and in April encouraged BP and Shell to spend more in the UK. We do need the oil coming out of the North Sea; we do need to encourage the new exploration, he said.
Exxon Mobil, Shell, Total and BP return to Iraq
Four oil giants - Exxon Mobil, Shell, Total and BP - are to announce next week no-bid contracts to start servicing the creaking Iraqi oil infrastructure, crippled for decades by lack of investment and often targeted by insurgents.
Guns and Oil: How The Multinational Oil Companies Are Queuing For Their Rewards
Iraq: ...the reason that Shell and ExxonMobil and the rest are confident of riches is because they have the best supporter of all to guarantee it for them. The United States military.
Shell Oil to expand and rename Westhollow facility
Shell Oil Co. plans to modernize and expand its Westhollow Technology Center in Houston and rename it Shell Technology Center-Americas.
So You Think Oils Expensive Now?
Moreover, there are a number of plausible scenariostaken from todays headlinesthat could greatly impact world oil prices and take an even greater toll on US consumers. We doubt that these risks are fully priced into the market.
Kazakh superfield delayed yet again
Of the 15 former Soviet republics, Kazakhstan is sitting on the sole "superfield" discovered in the last three decades. With proven reserves of 35 billion barrels, Kazakhstan potentially contains the world's third largest reserves of oil, after Saudi Arabia and Iraq.
Shell leases Korea National Oil tank for Basra Light
Shell has leased storage in South Korea from Korea National Oil Corp (KNOC) for Iraq's Basra Light crude, trade sources said on Friday, a rare move that could help the major bypass uncertainties at the loading port.
SEC ordered to use emergency powers to immediately curb excessive market speculation
SEC Proposes Change In Oil, Gas Reporting: The SEC plan would allow oil and gas companies to include previously excluded sources of oil, such as tar sands, and disclose "probable and possible" reserves, not just those proven to exist.
