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Posts from ‘March, 2006’

Financial Times: Penalties: FSA flexes its muscles with tougher action

By Phil Manchester The Financial Services Authority, the UK regulator, is flexing its muscles. Since 2001, when it assumed new powers under the Financial Services and Markets Act 2000, the FSA’s Enforcement Division has handed out increasingly high penalties. In 2001-02, its first full year of operation under the new regulations, the FSA imposed fines [...]

CNN Netscape News: Oil above $66 after Iran defies U.N. call

By Janet McBride LONDON (Reuters) – Oil climbed further above $66 on Thursday, toward its $70 record, after Iran rejected a U.N. Security Council demand that it halt uranium enrichment. “There's got to be a crunch point over Iran,” said Geoff Pyne, an independent oil analyst. “At the end of the day Iran is intent [...]

allAfrica.com: Nigeria: Ogoni Oil Spill Was Not Sabotage – Rivers Govt

This Day (Lagos) March 30, 2006 Posted to the web March 30, 2006 John Iwori Port Harcourt As the oil spill in Kegbara Dere community in Gokana Local Government area of Rivers State continues to generate ripples, the state government has ruled out sabotage, saying Shell made frantic efforts to contain its spread. Making the [...]

RIA Novosti: Russia to build 4 tankers for Sakhalin II operator

12:42 | 30/ 03/ 2006 MOSCOW, March 30 (RIA Novosti) – Russia is expected to build four vessels to deliver oil and gas under the Sakhalin II energy project being implemented on Russia's Far Eastern island, the project operator said Thursday. The shipyard based in St. Petersburg, Russia's second biggest city, will build two ice-breaking [...]

Daily Telegraph: Slump in petrol reserves oils the wheels as bid fever hots up

Lower-than-expected oil supply figures and renewed speculation of a bid for BG pushed London's oil stocks and the FTSE 100 higher. Strong trading in the oil majors underpinned a rise of 23.5 to 5959.2 in the blue chip index, offsetting falls for 40pc of the constituents. BG headed the top flight throughout the day, closing [...]

AP Worldstream: Oil prices pull back after surging on U.S. data showing decrease in gasoline supply

Mar 30, 2006 Crude oil futures pulled back Thursday in early Asian trading after a 38-cent increase on the previous day on U.S. data showing a large decrease in domestic supplies of unleaded gas. Light, sweet crude for May delivery fell 35 cents to US$66.10 a barrel on the New York Mercantile Exchange, morning in [...]

THE NEW YORK TIMES: The New Face of an Oil Giant

March 30, 2006 By JAD MOUAWAD If Rex W. Tillerson has his way, Exxon Mobil will no longer be the oil company that environmentalists love to hate. Since taking over as Exxon's chairman three months ago from Lee R. Raymond, his abrasive predecessor who dismissed fears of global warming and branded environmental activists “extremists,” Mr. [...]

Guerrilla News Network: George W. Bush and Peak Oil: Beyond Incompetence

Praying for a miracle? By Richard Heinberg Is gross mismanagement of the nation's energy policy an impeachable offense? While it would be difficult to create an airtight legal case for impeaching George W. Bush based on his ignoring the very real threat posed by Peak Oil, nevertheless I believe that his actions—and inaction—in this regard [...]

MarketWatch (USA): Indian official says interested in joining Sakhalin III project

Mar 29, 2006 LONDON (MarketWatch) — The Indian government is interested in participating in Russia's Sakhalin III oil and gas project through one of the country's state-run companies, a top Indian official said Tuesday. The Sakhalin II project, controlled by Royal Dutch Shell PLC (RDSB.LN), “is closed. On Sakhalin III, we are looking for opportunities,” [...]

The Hindu (India): Cairn, Shell, BP among others to expand operations

New Delhi, March 29 (UNI): Top energy majors including Shell, BP, BG, Respol, BHP and Cairn have expressed their interest to expand their operations in Exploration and Production (E&P), distribution and marketing of natural gas, including city gas distribution network in India. Petroleum and Natural Gas Minister, Murli Deora, is currently in London for a [...]

THE WALL STREET JOURNAL: Oil Jumps Above $66 a Barrel As Supply Jitters Spark Rally

By MASOOD FARIVAR March 29, 2006; Page C4 Crude futures smashed out of their recent trading range, rallying nearly $2 and closing above $66 a barrel for the first time since early February as supply worries heightened. The May crude delivery contract on the New York Mercantile Exchange rose $1.91 a barrel, or 3%, to [...]

The Guardian: Carbon cop-out

With green issues a hot political topic, environmentalists were hoping Gordon Brown's budget would tackle climate change head on. It was certainly on the agenda, but John Vidal looks at the reality behind the rhetoric Wednesday March 29, 2006 For just a few hours last Wednesday, the broad British environmental movement toyed with the idea [...]

THE NEW YORK TIMES: Oil Prices Settle at $66 Per Barrel

By THE ASSOCIATED PRESS Published: March 28, 2006 Filed at 5:12 p.m. ET WASHINGTON (AP) — Crude-oil futures leapt by almost $2 a barrel Tuesday, testing the upper-end of a recent trading range amid strong demand and worries about supply from Iran and Nigeria. The reported possibility of a labor strike in Norway, a major [...]

Asia Pulse: SHOWA SHELL, MITSUI OIL TO SUPPLY PETROLEUM TO JAPAN ENERGY

Mar 29, 2006 TOKYO, March 29 Asia Pulse – Japan Energy Corp. has inked agreements with Showa Shell Sekiyu KK (TSE:5002) and Mitsui Oil Co. to procure 500,000 kiloliters of petroleum products annually from each beginning in April. Through fiscal 2005, Japan Energy purchased about 4.5 million kiloliters of petroleum products annually from Fuji Oil [...]

THE NEW YORK TIMES: Experts: Fragile Economy Hampers Big Easy

By THE ASSOCIATED PRESS Published: March 28, 2006 Filed at 5:06 p.m. ET NEW ORLEANS (AP) — Most of Big Oil has returned to New Orleans since Hurricane Katrina, Mardi Gras got the city back in the tourism business and the skilled construction trades can't get enough workers. The city's population — 455,000 before Katrina [...]