Posts on ‘January 30th, 2007’

oilpatch deal SCOTIAWATEROUS CNQ paid US$4B for Anadarko’s Canadian assets BY SCOTT DEVEAU Financial Post scdeveau@nationalpost.com The brevity of a deal is sometimes as important as the price, and that certainly was the case with the largest oil and gas acquisition in Canada last year. The breakneck pace in which Canadian NaturalResources Inc.’s “swat team” [...]

20 January 2007 Claims raise fear oil firm will lose control of project AGENCE FRANCE-PRESSE Russia’s environmental watchdog alleged on Monday violations in the huge Siberian gasfield run by a unit of BP, raising fears that the British oil major could lose control of the project. “We asked for information on (gasfield) Kovykta. . . [...]

EXTRACT: SAKHALIN-2 TAKEOVER: In December, Gazprom ousted Royal Dutch Shell from its leading position in Asia’s biggest energy project, Sakhalin-2. Faced with multi-billion-dollar legal actions and licence recall over environmental damage, Royal Dutch Shell and its two partners, Mitsui and Mitsubishi, agreed to sell just over 50 per cent of their shares to Gazprom. With [...]

EXTRACTS: THE lure of Iran’s vast oil and gas reserves has proved too tempting for Repsol and Royal Dutch Shell… But Washington’s tough line over petroleum investment in Iran means it will be hard for companies to maintain operations in the US.  John Browne, chief executive of rival BP has bowed to US pressure and [...]

KUALA LUMPUR, Jan. 30 (Xinhua) — A helicopter carrying 10 oil rig workers and two pilots crashed in the South China Sea offshore Bintulu in Malaysia’s eastern state of Sarawak on Tuesday afternoon. The website of Malaysia’s English-language newspaper The Star said that nine of the workers had found alive, one was missing, while the [...]

“I call this piece of sculpture Shell or Hell because [oil giant] Shell has done nothing but bring hell to the people of the Niger Delta,” says sculptor Pius Waritimi. Last Updated: Tuesday, 30 January 2007, 12:25 GMT  For the complete article go to… http://news.bbc.co.uk/2/hi/in_pictures/6313035.stm

Why Californians Pay More at the Pump And How True Reforms Will Help California Service Station and Automotive Repair Association 1202 Grant Avenue, Suite B-1 Novato, California 94945 (415) 892-1243 www.CSSARA.org ________________________________________ TABLE OF CONTENTS Executive Summary I. HOW THE CALIFORNIA MARKET OPERATES TODAY II. COST TO CONSUMERS AND BUSINESSES III. OIL COMPANY PROFITS IV. [...]

Monday, January 29, 2007  Shell Brasil Ltda. formally announces the opening of a Data Room for block BMS-31, Santos Basin, Brazil. The block is in shallow water (500m), contains a near term drilling opportunity, and greater than 1,000MMbbls potential. BMS-31 contains a drill-ready prospect with primary objective volumes estimated at 560MMbbls (STOIIP) of light oil. [...]

Crude-oil futures fell to $54 Monday after Saudi Arabia’s ambassador to the U.S. implied prices aren’t too low for the oil-producing kingdom, fueling speculation OPEC won’t attempt extra production cuts to buoy prices. Here is Monday’s roundup of oil and energy news: * * * SAUDIS TO PARE OUTPUT AGAIN: Saudi Arabia is cutting oil [...]

By ANDREA R. MIHAILESCU Neft said it is considering constructing a $1.7 billion oil refinery with a capacity of 7 million tons of oil annually in Armenia near the border with Iran. The cost of the transportation infrastructure could cost an additional $1 billion.Industry analysts say that the project has little economic incentive; instead, there [...]

Created: 30.01.2007 09:01 MSK (GMT +3), Updated: 09:01 MSK Russia’s Economy and Industry and Energy Ministries see no economic justification for Iranian Supreme Leader’s suggestion to create an international natural gas cartel. As MosNews has reported yesterday, Iran’s Supreme Leader Ayatollah Khamenei spoke in favor of setting up “a cooperation organization in the gas sphere, [...]

Reuters News Agency LONDON — Royal Dutch Shell PLC says it is selling its Los Angeles refinery and related assets to Tesoro Corp. for $1.63-billion (U.S.) as the Anglo American oil giant further reduces its exposure to the refining industry. Tesoro chief executive officer Bruce Smith said the purchase will give the company profit growth [...]