Posts on ‘December 28th, 2006’

By Andrew E. Kramer Thursday, December 28, 2006 MOSCOW The Russian government has won a further concession from the foreign partners at the world’s largest combined oil and natural gas field, known as Sakhalin-2, which is being developed in Russia’s remote Far East. Last week, Gazprom, the Russian energy monopoly, took majority control of the [...]

By John Donovan News of a “secret protocol” between Shell and the Russian government has leaked out today. The Russians evidently wanted to further embarrass Shell management. Note that there is no mention of Mitsui and Mitsubishi involvement in the secret deal.  Shell refuses to comment on the “confidential” secret agreement. This comes just days [...]

U.S. scholar Marshall Goldman says energy wealth and control over export pipelines have made Russia more powerful than at any time in its history. Professor Goldman told the Jamestown Foundation that Russia’s post-cold war power is built on its oil and gas resources. He said both eastern and western Europe have become dependent on Russia [...]

Created: 28.12.2006 12:45 MSK (GMT +3), Updated: 13:29 MSK Royal Dutch/Shell signed a secret protocol with the Russian government as part of its deal to sell half of the Sakhalin-2 project to Gazprom, allowing Shell to boost spending but not as much as it wanted, Russian business daily Vedomosti reported on Thursday, Dec. 28. Shell [...]

By Torrey Clark Dec. 28 (Bloomberg) — Royal Dutch Shell Plc and its Japanese partners will take on $3.6 billion of costs themselves to develop the Sakhalin-2 oil and gas project in Russia, lowering the amount state-run OAO Gazprom will spend to join the project and the hastening the state’s share in the profit. Sakhalin-2′s [...]

Last Update: 7:21 AM ET Dec 28, 2006 By Aude Lagorce, MarketWatch LONDON (MarketWatch) — The European Commission on Thursday called for Russia and Belarus to find a rapid solution to a dispute over natural-gas prices that threatens damage to relationships between the two long-term allies and to disrupt deliveries to the continent.  “The Commission [...]

By Brad Foss Of The Associated Press After a bonanza in 2006, Big Oil is poised for a slightly less big year in 2007, as slowing U.S. economic growth and an expanding global supply cushion may help keep a lid on prices. Oil prices will continue to hover at historically high levels, analysts say, because [...]

Thu Dec 28, 2006 7:26 AM GMT MOSCOW (Reuters) – Royal Dutch Shell signed a secret protocol with the Russian government as part of its deal to sell half of the Sakhalin-2 project to Gazprom, allowing Shell to boost spending but not as much as it wanted, a newspaper said on Thursday. Shell (RDSa.L: Quote, [...]

By Upstream staff Shell has signed a secret protocol with the Russian government as part of its deal to sell half of the Sakhalin 2 project to Gazprom, allowing Shell to boost spending but not as much as it wanted, it was reported today. Shell is now allowed to boost spending in the giant Sakhalin [...]

By REUTERS Published: December 28, 2006 Filed at 4:21 a.m. ET PORT HARCOURT, Nigeria (Reuters) – Two different armed groups have lifted sieges of two oilfield stations in Nigeria, releasing at least 20 workers, industry spokesmen said on Thursday. About 18 workers at Agip’s 40,000 barrel-per-dayTebidaba oilfield were released on Tuesday after five days in [...]

By BLOOMBERG NEWS Published: December 28, 2006 Royal Dutch Shell, Europe’s largest oil company, said yesterday that Gale A. Norton would join the company as general counsel, almost 10 months after she resigned as United States secretary of the interior. Ms. Norton, 52, will take the position in mid-January and work primarily from Colorado, the [...]

Published: Dec 27, 2006 Madam, – It seems that David Rolfe (December 21st), while pragmatic and concerned, entirely misses the most significant aspect of the so-called Mayo gas field. It is neither Mayo’s, nor Ireland’s gas, as the resource was handed over to a multinational company by a former Minister who is known to have [...]

Published: Dec 28, 2006 From Vedomosti 1. Vera Surzhenko and Aleksandr Bekker article reports new details of the Sakhalin-2 deal. The authors say that the Russian authorities have agreed with foreign investors that Shell, Mitsubishi and Mitsui will invest in the project additional 3.6bn dollars which will not be compensated by the production sharing agreement, [...]

EXTRACT: Separately, Shell said yesterday it had hired Gale Norton, the former secretary of the Interior Department, to serve as a counsel for the Dutch oil giant. The announcement from the energy company comes as the Bush administration is expected to face increased scrutiny by Congress on its ties to the oil and gas industry. [...]

Thu 28 Dec 2006 MOSCOW (Reuters) – Royal Dutch Shell signed a secret protocol with the Russian government as part of its deal to sell half of the Sakhalin-2 project to Gazprom, allowing Shell to boost spending but not as much as it wanted, a newspaper said on Thursday. Shell is now allowed to boost [...]