By THE ASSOCIATED PRESS BIRIYA-AMA, Nigeria (AP) — This village of palm-frond huts in Nigeria's southern Niger Delta sits atop one of Africa's richest energy deposits but has electricity only when one of its young men paddles a canoe to the nearest city to buy fuel for a generator. School is held in a cement-block [...]
Posts from ‘February, 2006’
Lloyds List: Disruption caused by militants lowers world oil supply
Feb 28, 2006 OIL supply disruptions such as those caused by Nigerian militants threaten to hurt crude demand and spot tanker rates, warns a leading New York shipbroker, writes Tony Gray. Poten ' Partners says that successful attacks on export facilities by rebel groups have shut in at least 450,000 barrels per day from Shell's [...]
Fortune Magazine: A Shell of itself
It should be the best of times for the energy giant. But a look at its reserves show Royal Dutch Shell may soon be running on empty. By Nelson D. Schwartz, FORTUNE senior writer February 27, 2006: 1:24 PM EST (FORTUNE Magazine) – Judging by the $23 billion it earned last year, these should be [...]
Yahoo! News: Shell locked in bitter legal battle over pollution in Nigeria
LAGOS (AFP) – Anglo-Dutch giant Shell, which is locked in a bitter legal battle over environmental damage in Nigeria's oil-rich southern Delta, is appealing against a hefty 1.5-billion-dollar (1.2-billion-euro) fine for pollution. On Friday, the federal high court in the southern city of Port Harcourt slapped the fine for environmental pollution on the company following [...]
New Vision Online: Shell (U) loses case to former employee
Monday, 27th February, 2006 By Hillary Kiirya THE Supreme Court has thrown out an appeal by Shell (U) seeking to challenge a Court of Appeal decision that declared its former employer’s dismissal illegal. The court also ordered Shell to pay costs amounting to about sh150m to Eng. George Ndyabawe. Five judges in a judgement delivered [...]
THE NEW YORK TIMES: Oil Falls on Iran Deal Hopes, Still Alert on Saudi
By REUTERS Published: February 27, 2006 Filed at 2:02 a.m. ET SINGAPORE (Reuters) – Oil fell more than 1 percent on Monday as dealers cautiously weighed a “basic'' nuclear deal agreed by Iran and Russia, but fears over Saudi supplies after last week's thwarted al Qaeda attack checked losses. U.S. oil futures for April delivery [...]
Nigerian Tribune: Niger Delta crisis worries Saraki
KWARA State governor, Dr. Bukola Saraki, at the weekend expressed concern over the activities of militants in Niger Delta, noting that 25 per cent loss in oil production by Shell is a threat to the nation’s economy. Dr. Saraki, who expressed the concern while signing the state 2006 budget of N35.71 billion into law, said [...]
Reuters: Iran to grant gas contracts to European firms
TEHRAN (Reuters) – Iran will next week grant Total (TOTF.PA: Quote, Profile, Research), Shell (RDSa.L: Quote, Profile, Research) and Repsol (REP.MC: Quote, Profile, Research) upstream development contracts in the giant South Pars gas field in the Gulf, an Iranian state oil firm said on Saturday. Iran intends to use phases 11 and 13 of South [...]
AFX News Limited: Iran says will award gas contracts to Shell, Total, Repsol soon
TEHRAN (AFX) – Shell, Total SA and Repsol YPF SA will soon sign contracts with Iran to develop two phases of the Islamic republic's offshore South Pars gas field, an Iranian official. 'The contracts will probably be signed in the current (Iranian) week,' said Akbar Torkan, the managing director of the state-run Pars Oil and [...]
The BusinessOnline: Amerada Hess sells oil assets
By Richard Orange 26 February 2006 US oil company Amerada Hess has put about $300m (E252m, £171.8m) of its North Sea oil assets up for sale, making it the second North American oil company to cut back investment in the North Sea since Chancellor Gordon Brown slapped a 10% extra tax on oil producers in [...]
Financial Post – Canada: Royal Dutch Shell appeals US$1.5B pollution fine imposed by Nigerian court
Royal Dutch Shell PLC, Europe's second-largest oil company, said it believes it has “strong grounds” to appeal a reported US$1.5-billion fine a Nigerian court has ordered it to pay the country's Ijaw people for environmental damage. The court ordered Shell to make the payment following claims for compensation from the Ijaw dating back to 2000, [...]
RPWEB: Irish Residents Keep Shell Oil at Bay
San Francisco, CA (PRWEB) February 24, 2006 — Five residents of County Mayo, Ireland, were jailed for blocking Shell Oil Company and their Irish Government partner’s plans to pipe raw gas through their communities and close to their family homes. Shell Oil plans to build a giant processing plant on one of the county’s most [...]
The Observer: Shell banks on Russian energy revolution
The vast gas reserves controlled by Vladimir Putin give his nation enormous global influence. But he needs the Anglo-Dutch oil giant's help to fully exploit his position, reports Nick Mathiason Sunday February 26, 2006 In July Russia's President, Vladimir Putin, will welcome the leaders of the world's seven richest nations to Moscow. At the top [...]
THE WALL STREET JOURNAL: Thwarted Attack At Saudi Facility Stirs Energy Fears
Officials Worry Terrorists Are Targeting Oil System; Crude Futures Jump 4% By BHUSHAN BAHREE and CHIP CUMMINS February 25, 2006; Page A1 A foiled attack Friday on a Saudi oil-processing facility reinforced a dire concern for the U.S. and the energy industry: that terrorists are looking to score a direct hit on one of the [...]
THE WALL STREET JOURNAL: Nigerian Militants Present One of Their Nine Hostages
Associated Press WARRI, Nigeria — Armed militants holding nine foreign oil workers hostage in Nigeria showed one of them to reporters for the first time Friday, a 68-year-old American who said he and his colleagues were being treated well. Three Americans, two Egyptians, two Thais, one Briton and one Filipino have been missing since they [...]


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