June 5th, 2006:

UK, Ireland, France and Spain in mining rights bid
Environmentalists accuse coalition of ‘land grab’

Owen Bowcott, Ireland correspondent
Tuesday June 6, 2006

A vast tract of the Atlantic seabed more than 200 miles off shore is being claimed by a coalition of four European countries eager to expand their oil and gas prospecting rights.
The joint submission to the United Nations by France, Ireland, Spain and the UK is based on a novel legal approach that is transforming the international politics of underwater prospecting. Environmentalists have condemned the procedure as legitimising “land grabs”. read more

By REUTERS
Published: June 5, 2006
Filed at 10:25 p.m. ET

SINGAPORE (Reuters) – U.S. oil major Chevron (CVX.N) said on Tuesday it would appeal an Australian environmental assessment that could block its A$11 billionGorgon liquefied natural gas (LNG) project.

The Environmental Protection Authority (EPA) in Western Australia said on Tuesday it would advise the government to reject the proposed project off the state’s coast.

“We are confident we can resolve the EPA’s residual concerns,” Chevron said in a statement. read more

By Sheila McNulty in Houston, Carola Hoyos in London and Virginia Marsh in Sydney
Published: June 6 2006 01:44 | Last updated: June 6 2006 03:20

An Australian environmental agency on Tuesday dealt Chevron, ExxonMobil and Shell a blow, issuing a report that argues against development of the A$11bn (US$8.3bn) Gorgon liquefied natural gas (LNG) project.
 
The companies have touted Gorgon as a major source of future revenue, and have signed more than A$10bn in contracts to sell LNG from the development to Japan. It is to be the second world-scale LNG project for Australia. read more

6 June 2006

“Sustainable development” has become a familiar catchphrase in China these days.

It is heard in many high-profile forums, roundtable meetings and summits, mostly in relation to energy.

To some, it is simply a clich uttered by government officials who want to look good and get noticed by the central leadership.

But to Lim Haw Kuang the phrase really means something.

“It’s a balance between the economy, society and the environment, making them come in line with the ultimate objectives of both our company and of the country,” said Lim, a Malaysian of Chinese origin who is now head of the China business at Royal Dutch Shell. read more

13:08 Monday June 5th 2006

An Bord Pleanala has apologised to Shell E&P Ireland for a serious error made in a recent planning case concerning the Corrib gas project.

It led to a storm of negative headlines and comments for the developers of the controversial pipeline.

The Board had ruled last Thursday that a large manhole for the proposed pipeline would require planning permission.

However, the following day the authority explained that it had made a typing error in the judgement, and that in fact the manhole didn’t need planning. read more

By Emma Amaize, Regional Editor, South-South, Sam Oyadongha, Yenagoa & Habib Yacoob

Posted to the Web: Monday, June 05, 2006

WARRI— THE eight foreign oil workers that were kidnapped, last Friday, by armed youths in Bayelsa State were released, yesterday to the state government but the militant group, Iduwini Volunteer Force  (IVF), which carried out the abduction, said last night that the release was just the beginning of trouble for Shell Petroleum Development Company (SPDC), warning: “We shall soon strike.” read more

By JAY SOLOMON
June 5, 2006; Page A4

WASHINGTON — A series of relatively conciliatory statements by senior Iranian officials over the weekend is raising hopes that Tehran may be preparing to respond positively to a call by the U.S. for direct talks over its nuclear program.

President Mahmoud Ahmadinejad said his government would seriously study a package of incentives, expected to be delivered by European envoys, aimed at persuading Iran to scrap development of nuclear technologies. He said a “breakthrough” was possible on the nuclear question, provided Washington and world leaders respected Tehran’s right to develop peaceful nuclear energy and its role as a regional Middle East power.
 
“The Iranian nation’s right to nuclear technology and power is legal and definite, and we will not talk about these issues,” Mr. Ahmadinejad said Saturday. He added, however, that Iran was willing to discuss “the proliferation of weapons of mass destruction and how to stop it,” as well as peace and other “common concerns.” read more

Kingdom Denies Any Effort
To Curb Global Oil Supply;
Stores Are Near Capacity
By BHUSHAN BAHREE
June 5, 2006

CARACAS, Venezuela — Saudi Arabia’s oil minister confirmed that his country’s massive crude-oil output has declined in recent months, but he attributed the trend to a drop in demand and denied the kingdom is aiming to limit supply.

In an interview after a meeting here of the Organization of Petroleum Exporting Countries, Ali Naimi said other cartel members are having trouble finding buyers for all the crude they are producing, at a time when global stores are near full and many refiners have closed facilities for routine maintenance. One Saudi official said an estimated three million barrels a day of refining capacity is out of action and unable to process crude, at a time when the world is using some 84 million barrels a day of oil products like gasoline and jet fuel.
 
“It’s not just heavy oil. Even light oil is having problems” finding buyers, Mr. Naimi said, referring to premium grades of crude known as light crude that are highly prized by refiners because they have high gasoline yields. read more

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