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Posts from ‘July, 2006’

The Sunday Telegraph: The Friday night bombshell

(Filed: 30/07/2006) BP’s decision requiring him to step down as chief executive in 2008 came as a blow to Lord Browne. Sylvia Pfeifer describes the events leading up to the announcement and looks at the potential successors It never gets too hot in the Andalucian mountains in southern Spain, even during the brutal summer month [...]

Houston Chronicle: Oil execs speak out

July 30, 2006, 12:07AM LYNN J. COOK Copyright 2006 Houston Chronicle John Hofmeister: President, Shell Oil Co. High prices, war in the Middle East and global warming concerns have transformed energy from a dull industry taken for granted by many Americans into a top-of-the-mind pocketbook issue for consumers. The Chronicle posed 10 questions to several [...]

Chicago Tribune: Oil Safari: A Travelogue of Addiction

What does it take to quench America’s mighty thirst for gasoline? Pulitzer-winning correspondent Paul Salopek traced gas pumped at a suburban Chicago station to the fuel’s sources around the globe. In doing so, he reveals how our oil addiction binds us to some of the most hostile corners of the planet—and to a petroleum economy [...]

Iranian.ws: Shell oil company to decide on mullahs’ blood money in 2007

International oil giant Shell will make its final decision on whether to invest in Phase 13 of South Pars gas field development project in 2007. Mullahs’ Managing Director of Pars Oil and Gas Company Akbar Torkan said the final investment decision (FID) on Phase 13 of South Pars gas field which pertains to Shell will [...]

Taipei Times: Oil prices down on slower US growth, slack demand fears

EXTRACT: The market was still feeling the ramifications after Royal Dutch Shell declared force majeure on crude deliveries from Nigeria’s Bonny oilfield for this month and next. The move means contracts might not be honored during those two months. THE ARTICLE AFP , NEW YORK Sunday, Jul 30, 2006,Page 10 Advertising Oil prices slumped on [...]

Edmonton Journal (Canada): Athabasca Oil Sands gears up for major expansion

By Gordon Jaremko, CanWest News Service EDMONTON — Alberta’s youngest oilsands mega-mine set out Friday to grow briskly by 65 per cent even though expansion costs have skyrocketed. About 6,000 to 7,000 construction workers will build a 100,000-barrels-a-day addition to the Athabasca Oil Sands Project over the next four years on a schedule laid out [...]

The Observer: Shell’s Bermuda arm seeks money from UK taxpayers

Nick Mathiason Sunday July 30, 2006 The Shell-owned consortium behind the $20bn oil and gas project in Sakhalin off the east coast of Russia is seeking UK taxpayers’ money to help pay for the scheme, even though it is based in the tax haven of Bermuda. Campaigners are demanding the Export Credits Guarantee Department deny [...]

Sunday Business Post (Ireland): Corrib: Does David need Goliath?

30 July 2006  By Richard Curran The growing momentum to solve the issues over the Corrib gas field might see the multi-billion-euro project actually move forward sometime soon. The publication of the report by the mediator in the dispute, Peter Cassells, into finding a solution may not in itself fix the problems but it is [...]

The Sunday Times: Shell set to reroute pipeline

July 30, 2006 Stephen O’Brien   SHELL is to announce within two weeks that it is prepared to reroute the Corrib gas pipeline in Mayo, in an attempt to end the local protests that have stymied the €900m project. The state-owned Bord Gais is expected to become involved in the selection of a new route [...]

Petroleum News: Total, Hess confirm deepwater Gulf finds

EXTRACT: Last November Total began to expand its deepwater Gulf of Mexico position in a “like kind” exchange with Shell Exploration & Production. Under the agreement, Total would convey its interests in four onshore fields in South Texas for Shell’s 17 percent interest in the deepwater Tahiti field, among the largest finds in the Gulf [...]

Petroleum News: BP’s Browne to step down: “Shell a target?”

EXRACT: Shell a target?: According to Britain’s Financial Times and other publications, Browne had an even bigger transformation up his sleeve — a merger with arch-rival Shell. Just how serious that plan ever became isn’t clear. It appears the idea was brought up to Shell leaders in the second half of 2005 and didn’t gain [...]

Petroleum News: Scattering some of the oil sands gloom

By Gary Park Imperial Oil-ExxonMobil Canada, a Shell Canada-led partnership and Husky Energy are pushing ahead with various aspects of large-scale oil sands projects, taking the high road during a time of accumulating negatives. The joint effort by the ExxonMobil sister companies involves the 300,000 barrel per day Kearl project that carries an initial cost [...]

Live Chat: Jeroen van der Veer: Why does he not step down himself and admit he was not up to the task?

Guest 2770: 28 July 2006 Shell Shocked: “This company has been losing ground now for many years, and I don’t like that,” says Jeroen van der Veer, the 58-year-old chief executive. “I didn’t see the reserves crisis as something isolated–no, I think the whole company was losing ground. We knew it, but we kept on [...]

The New York Times: Chevron, Like Its Rivals, Reports Higher Profits Amid Global Concerns

By CLIFFORD KRAUSS Published: July 29, 2006 Chevron reported yesterday that its second-quarter earnings climbed by 18 percent, marking the company’s highest profit for any three-month period. But the results paled next to the earnings announced this week by other large oil companies, and Chevron’s stock price dropped substantially on a day when American markets [...]

Irish Independent: Judgment reserved over Shell leak row

Published: Jul 28, 2006 THE High Court has reserved judgment in a multi-million claim for damages by a county council against energy giant Shell. The legal action followed the leakage of petroleum products from a Shell petrol station which halted construction of new civic offices in Trim, Co Meath. Damages estimated at between 5m-6m are [...]