Posts on ‘September 20th, 2007’

By Mark Shenk Sept. 20 (Bloomberg) — Crude oil in New York rose to a record for a seventh day after the U.S. said that production in the Gulf of Mexico was shut in because of a storm threat. More than 360,000 barrels, or 28 percent, of daily oil output was idled, the U.S. Minerals [...]

September 20, 2007 Michael Herman The entire board of BAE Systems and several former directors including Michael Portillo, a former UK Secretary of Defence, are being sued by a US pension fund over bribery and corruption claims at the defence group. The City of Harper Woods Employees’ Retirement Scheme, a public pension fund in Michigan, [...]

Industry executives say there’s no reason crude prices should be anywhere near current levels. Others say the fundamentals are there, and Big Oil is playing politics. By Steve Hargreaves, CNNMoney.com staff writer September 20 2007: 4:02 PM EDT NEW YORK (CNNMoney.com) — To listen to Big Oil executives, there’s no reason why a barrel of [...]

Thu Sep 20, 2007 7:25pm BST By Tanya Mosolova MOSCOW (Reuters) – Russian President Vladimir Putin has said he is against the creation of state energy “monster” that would straddle the entire economy, sucking away banking and other resources, the Kremlin reported on Thursday. When asked about a possible merger between state controlled Gazprom (GAZP.MM: [...]

Thu Sep 20, 2007 11:38am ET (Updates oil prices, adds comments from BP spokesman, background, paragraphs 3, 7-9) HOUSTON, Sept 20 (Reuters) – Energy companies evacuated personnel and shut in oil and natural gas production from rigs in the Gulf of Mexico as a tropical depression barreled toward the region. U.S. National Hurricane Center and [...]

The Associated Press Published: September 19, 2007 JUNEAU, Alaska: Nearly every Alaskan will soon receive a check for $1,654 (€1,183), their share of the state’s oil riches, Alaska Governor Sarah Palin announced. The dividend checks are derived from the state’s oil royalty investment program and distributed each year to eligible residents — just for living [...]

Thursday, September 20, 2007 By: Fiona McGarry THERE has been mixed reaction to the announcement by Shell E&P Ireland (SEPIL) that it is to set up an investment fund to benefit the Erris region. The money, which will go towards long-term projects, is being established on the recommendation of the independent mediator, Peter Cassells, but [...]

Borzou Daragahi in Dubai Friday September 21, 2007 A SENIOR Iranian military official says his country has drawn up plans to attack Israel from the air in case of war between the two countries. In an interview published by the Iranian semi-official Fars News Agency on Wednesday, General Mohammed Alavi, a deputy commander in the [...]

Vidya Ram, 09.20.07, 1:58 AM ET LONDON – Italian energy company Eni is treating the outcome of a meeting of its Chief Executive Paulo Scaroni with the Kazhakh government as a closely guarded secret. But the outcome of the negotiations — whenever they emerge — will be an important sign of whether Eni can remain [...]

By Samantha Zee Sept. 19 (Bloomberg) — Motiva Enterprises LLC, a joint venture of Shell and Saudi Arabia’s state oil company, will flare chemicals for several days as it restarts the fluid catalytic cracking unit at its refinery in Port Arthur, Texas. The unit was shut last week after Hurricane Humberto caused a power failure [...]

Published: Sep 20, 2007 IRELAND’s new energy minister, Eamon Ryan, is about to launch the country’s latest frontier exploration licensing round, covering the Porcupine basin, writes Martyn Wingrove. Oil companies will have until December 18 to submit their tenders for hydrocarbon exploration licences and blocks in the Atlantic Ocean, south west of Ireland. Analysts said [...]

Published: Sep 20, 2007 ANGOLA has launched its next hydrocarbon exploration licensing round with its ultra-deepwater blocks likely to be the pick of the bunch, writes Martyn Wingrove. The West African country, which joined the Organisation of Petroleum Exporting Countries this year, wants to attract fresh investment from oil majors and smaller companies through this [...]

Martyn Wingrove, Lloyds List Published: Sep 20, 2007 ROYAL Dutch Shell has taken Ocean Rig’s semi-submersibleLeiv Eiriksson from offshore Angola to begin a multi-well exploration campaign off northern Europe, writes Martyn Wingrove. The rig is en route to Las Palmas for modifications and upgrades, which will allow it to operate on the Irish, British and [...]

By Ed Crooks Published: September 20 2007 04:59 | Last updated: September 20 2007 04:59 The irony of Scotland’s oil is that the debate over control of the country’s resources has flared up again just as it has become clear that the UK sector of the North Sea is in irreversible decline. Alex Salmond, the [...]

By THE ASSOCIATED PRESS Published: September 20, 2007 Filed at 12:45 a.m. ET SINGAPORE (AP) — Oil prices dipped on profit-taking Thursday after reaching record highs in the previous session on U.S. refinery outages and declines in U.S. oil inventories. The decline was limited by worries over a potential tropical storm threat to oil and [...]