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Posts from ‘April, 2008’

Outcry as Shell and BP make billions on back of price rises

The Times: Outcry as Shell and BP make billions on back of price rises Wednesday April 30, 2008 Robin Pagnamenta and David Robertson Surging oil prices helped to boost profits at BP and Royal Dutch Shell to a combined record of £7.2 billion for the first quarter of the year. Amid growing accusations of profiteering [...]

Amid High Oil Prices, Danger Signs in Production

India has a seemingly insatiable appetite for cars, as shown in this traffic jam in a suburb of New Delhi,  and the oil needed to run them, contributing to growing worldwide demand for petroleum. By JAD MOUAWAD Published: April 28, 2008 As oil prices soared to record levels in recent years, basic economics suggested that [...]

Bolivia puts Shell under pressure

RadioNetherlands.nl: Bolivia puts Shell under pressure BY EDWIN KOOPMAN* 29-04-2008 The Shell oil company is under great pressure from the Bolivian government to reduce its presence in the country, or even to withdraw completely. President Evo Morales issued an ultimatum at the end of March, giving the company till 30 April to agree to sell [...]

Shell Examines Carbon Capture Project at Its Canadian Refinery

Bloomberg: Shell Examines Carbon Capture Project at Its Canadian Refinery By Eduard Gismatullin and Fred Pals April 29 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company, said it’s examining a carbon capture project at its Scotford refinery and upgrader in the Canadian province of Alberta. The company is studying a plan nicknamed “Quest,” [...]

In 2004, Shell’s U.S. gas and power trading arm Coral Energy paid $30 million to settle charges it reported fake natural gas trades

In 2004, Shell’s U.S. gas and power trading arm Coral Energy paid $30 million to settle charges it reported fake natural gas trades Reuters: Shell, BP win big from volatile energy markets Tue Apr 29, 2008 8:17am EDT By Alex Lawler LONDON, April 29 (Reuters) – A lucrative ride on the rollercoaster energy markets helped [...]

Record oil prices boost Shell and BP

Reuters: Record oil prices boost Shell and BP Tue Apr 29, 2008 9:57am BST By Tom Bergin and Alex Lawler LONDON (Reuters) – Record oil prices of over $100 a barrel helped Shell and BP shatter first-quarter profit forecasts on Tuesday. Royal Dutch Shell announced a 12 percent rise in current cost of supply (CCS) [...]

D-day in New Zealand Court for litigation brought against Shell

The Dominion Post: D-day for oil, gas compo bids By KRIS HALL – The Dominion Post | Monday, 28 April 2008 Seven days from now, a little-known group of oil and gas investors will go up against multinational Shell as New Zealand’s longest-running insider-trading case finally lands in court. Fuelled by spiralling oil prices and [...]

Fighting graft

Financial Times: Fighting graft Published: April 29 2008 03:00 | Last updated: April 29 2008 03:00 Bribery and corruption are not just morally indefensible but bad for your business. That is the message Transparency International, the anti-graft campaigner, is determined business will internalise and, perforce, implement. But is it true? TI’s report, launched yesterday, on [...]

Shell and BP beat expectations

Financial Times: Shell and BP beat expectations By Ed Crooks Published: April 29 2008 07:47 | Last updated: April 29 2008 08:02 Royal Dutch Shell and BP, Europe’s two biggest oil companies, have delivered better than expected results on the back of the soaring price of oil. While BP’s profit growth since last year was [...]

Scottish strike and Nigerian attack boost oil

Financial Times: Scottish strike and Nigerian attack boost oil By Chris Flood Published: April 29 2008 03:00 | Last updated: April 29 2008 03:00 Oil traded at record levels near $120 a barrel yesterday amid supply concerns following the start of a strike at the Grangemouth refinery in Scotland and more trouble in Nigeria. Nymex [...]

Opec chief warns oil could hit $200 a barrel

Financial Times: Opec chief warns oil could hit $200 a barrel By Carola Hoyos in London Published: April 29 2008 03:00 | Last updated: April 29 2008 03:00 Opec’s president yesterday warned oil prices could hit $200 a barrel and there would be little the cartel could do to help. The comments made by Chakib [...]

Oil Nears $120 on Nigeria Unrest: paid attacks in Nigeria help fund huge retention payments to flawed Shell executive directors

THE WALL STREET JOURNAL: Oil Nears $120 on Nigeria Unrest By GUY CHAZAN and NEIL KING JR. April 29, 2008; Page C12 An escalation in attacks by militants in the Niger Delta and a strike by Exxon Mobil Corp. workers are playing havoc with oil production in Nigeria at a time when worries about tightening [...]

High Oil Prices Boost Shell Profit: Shell gets its monies worth from paid Nigerian militants

THE WALL STREET JOURNAL: High Oil Prices Boost Shell Profit, Offsetting, Lower Refining Margins By BENOIT FAUCON April 29, 2008 1:58 a.m. LONDON — Royal Dutch Shell Tuesday said its first-quarter net profit rose 25%, as rocketing oil prices more than offset lower refining margins. Shell said net income was $9.08 billion, or $1.46 a [...]

Shell Profit Rises on Record Crude Prices: profits boosted due to ‘militant attacks in Nigeria’ by Shell’s paid thugs

Bloomberg: Shell Profit Rises on Record Crude Prices, Higher Gas (Update1) By Fred Pals April 29 (Bloomberg) — Royal Dutch Shell Plc, Europe’s biggest oil company, said first-quarter profit climbed 25 percent, boosted by record crude prices and higher natural gas. Net income advanced to $9.08 billion from $7.28 billion a year earlier, The Hague-based [...]

Rising oil price benefits Shell: $7.8bn (assisted by the attacks in Nigeria by Shell’s paid militants)

BBC News: Rising oil price benefits Shell Tuesday, 29 April 2008 06:40 UK Oil firm Royal Dutch Shell says it made first quarter profits of $7.8bn (£3.9bn), up from $6.9bn a year ago. It comes three months after the Anglo Dutch oil firm reported annual profits of $27.56bn (£13.9bn), a record for a UK-listed company. [...]