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Posts on ‘April 9th, 2008’

Gas, Oil Prices Hit New Records

Associated Press: Gas, Oil Prices Hit New Records Gas and Oil Prices Hit New Records After Government Reports Supplies Fell Last Week Wednesday April 9, 3:36 pm ET By John Wilen, AP Business Writer  NEW YORK (AP) — The upward trend in energy prices showed no sign of abating Wednesday as gasoline set yet another [...]

BP Could Lose $20 Billion to Gazprom

Seeking Alpha: BP Could Lose $20 Billion to Gazprom by: Stephanie Grimmett: Bio & more articles posted on: April 09, 2008 Gazprom is moving to take control of BP’s Russian oil fields. Gazprom, Russia’s government-owned energy company, already had plans to buy a stake in British Petroleum’s Kovykta gas field. And now, with rumors circulating [...]

Uncertainty surrounds growth rate for LNG imports in 2009 and beyond

snl.com: Uncertainty surrounds growth rate for LNG imports in 2009 and beyond April 07, 2008 5:22 PM ET By Mark HandKathleen EXTRACT Eisbrenner, executive vice president of LNG at Royal Dutch Shell plc, said there are currently 17 LNG importing countries, a number that is expected to grow to 29 by 2012. The number of [...]

BP Caving to Kremlin Pressure Over Joint Venture

moneymorning.com: BP Caving to Kremlin Pressure Over Joint Venture By Jason Simpkins Associate Editor BP PLC (BP) has found itself under pressure from the Kremlin to cede control of its joint venture in Russia, TNK-BP Holding OAO, to a state-owned oil monopoly such as Rosneft NK OAO or Gazprom OAO – the latest attempt by [...]

US Minerals Management Service launches Bristol Bay drilling review

Upstreamonline.com: MMS launches Bristol Bay drilling review The US’s Minerals Management Service (MMS) said it is launching an environmental review of possible offshore oil and gas drilling in the salmon-rich area of Bristol Bay, where energy exploration was temporarily banned following the Exxon Valdez disaster in 1989. After the Bush administration lifted the ban under [...]

Chevron outlines plans Mexico oil tap

  Oil tap: Chevron asks Mexico for permission to tap Gulf Upstreamonline.com: Chevron outlines plans Mexico oil tap By Upstream staff Chevron has submitted proposals to tap deep-water oil and natural gas reserves in Mexico to the government in Mexico City as the country weighs up its options to stem declining output. Chevron wants to [...]

Where Oil Experts Come From

THE WALL STREET JOURNAL: Where Oil Experts Come From By SPENCER SWARTZ April 9, 2008; Page B5A LONDON — A large, steady supply of petroleum graduates from resource-rich and developing nations is helping to ease an industrywide labor shortage, while at the same time chipping away at the advantage in skills traditionally enjoyed by U.S. [...]

ConocoPhillips, BP Plan Pipeline for Alaska Gas

THE WALL STREET JOURNAL: ConocoPhillips, BP Plan Pipeline for Alaska Gas By RUSSELL GOLD April 9, 2008; Page B1 ConocoPhillips and BP PLC are joining forces to pursue construction of a long-awaited natural-gas pipeline that would bring the rich energy deposits of northern Alaska to the lower 48 states, the companies said Tuesday. The two [...]

Energy Agency Sees Oil Averaging $101 This Year

THE WALL STREET JOURNAL: Energy Agency Sees Oil Averaging $101 This Year Economy May Damp Demand for Fuel, Curb Gasoline Price By NEIL KING JR. April 9, 2008 Federal energy officials expect oil to average $101 a barrel this year, a sharp upward revision from its earlier forecast that suggests prices will remain above $100 [...]

Investing in Russia fraught with risks – as Royal Dutch Shell discovered

Financial Times: Beyond buy-outs Published: April 9 2008 03:00 | Last updated: April 9 2008 03:00 For those wondering where private equity’s cash piles go next, watch TPG. The firm’s latest mooted deals are anything but the mega-buy-outs that dominated last year. The multi-billion dollar investment to recapitalise Washington Mutual exemplifies three trends. First, private [...]

Canada oil sands rules get UK backing

Financial Times: Canada oil sands rules get UK backing By Jean Eaglesham, Chief Political Correspondent Published: April 9 2008 02:53 | Last updated: April 9 2008 02:53 Tough environmental regulations that will increase significantly the costs faced by two British companies, BP and Royal Dutch Shell, in exploiting Canada’s huge oil sands reserves were on [...]

The biggest fines: £17 million fine imposed on Shell by FSA for ‘unprecedented misconduct’

The Guardian: Watchdogs with bite: the biggest fines Tuesday April 8 2008 April 2008: Ofwat fines Severn Trent £35.8m for deliberately providing false information and offering customers a poor service. December 2007: The Office of Fair Trading imposed a £116m fine on a number of supermarket groups and dairy companies, including Asda, Sainsbury and Dairy [...]

Here’s an odd one

Daily Telegraph: Here’s an odd one. Edited by Simon Goodley Last Updated: 12:50am BST 09/04/2008 Here’s an odd one. A barmaid in a Hoxton boozer tells me she was offered £40 to turn up at the Shell AGM and applaud. It’s a strange tale to invent, but can it be true? “We’ll get back to [...]

Shell intends to become major player in Alaska’s oil industry

ktuu.com: Shell intends to become major player in Alaska’s oil industry Associated Press – April 8, 2008 6:54 PM ET ANCHORAGE, Alaska (AP) – As two longtime players in Alaska’s oil industry announced landmark plans for a gas pipeline out of the North Slope fields, the president of Shell Oil seemed a bit sheepish about [...]