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June 24th, 2007:

The Sakhalin Times: Leaked memos and piling pressure on Sakhalin Energy

20 June 2007

When Gazprom took over the Sakhalin II project, it was believed that Moscow would call the shots in the project and that Shell would merely be a minority partner. Those in Sakhalin and well connected with the project basically know that other than an urgency to fill most vacancies with Russian citizens, very little has changed. That is, other than the fact that the environmental brigade easing its pressure on the consortium. The fact remains that Sakhalin Energy is still synonymous with Shell and the pressure is still on the Anglo-Dutch company to fulfill its LNG delivery obligations. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Sunday Telegraph: BP’s number-cruncher bows out with harsh words for Whitehall

EXTRACT: Ominously, this warning shot comes just as Shell is raising serious questions about its commitment to UK oil and gas. BP’s main rival has just put a swathe of its North Sea drilling kit up for sale, while scrapping plans for a £25m headquarters in Aberdeen, putting hundreds of jobs at risk.

By Liam Halligan, Economics Editor, Sunday Telegraph
Last Updated: 2:13am BST 24/06/2007

Most of us have a vague idea that North Sea oil production has lately been slowing down. But by how much? read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Sunday Telegraph: BP enters joint venture with Gazprom

Sunday Telegraph image

(The Kovykta field in eastern Siberia holds enough gas
to satisfy the world’s needs for a year)

By Russell Hotten
Last Updated: 2:13am BST 24/06/2007   
 
BP has been forced to cede control of the massive Kovykta gas field to Russia’s state-run energy giant Gazprom as part of an “historic agreement” that would allow the companies to swap international assets and jointly invest in projects around the world.

After months of Kremlin-inspired pressure, the UK oil major’s Russian joint venture, TNK-BP, has sold its 63pc stake in the company that operates the Kovykta field, which holds enough gas to satisfy the world’s needs for a year. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Houston Chronicle: World oil reserves used up faster than they’re being found

Houston Chronicle image

(A welder works on the utility module of Chevron’s Tahiti floating production platform at the Gulf Marine Fabricators facility near Corpus Christi in March. Chevron showed improvement in replacing its reserves in 2006, despite a general failure of major oil companies to replace reserves for the third straight year.
STEVE UECKERT: CHRONICLE FILE)

June 23, 2007, 11:40PM

As development costs rise, decline could affect prices, analysis finds
By JOHN PORRETTO
Associated Press

The world’s major oil companies replaced reserves at levels below 100 percent for the third straight year in 2006, even as costs to find and produce the key asset continued to rise, a new analysis shows.  

Reserve replacements last year, excluding acquisitions and divestitures, were 91 percent, below the 92 percent replaced in 2005, according to a report released last week by the investment bank Bear Stearns & Co. read more

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.