July 17th, 2007:

Crucial agreements the fallout puts at risk

Julian Borger and Terry Macalister
Wednesday July 18, 2007

The tremors from the Anglo-Russian spy row could disrupt a wide range of delicately balanced global issues, and if the crisis escalates, they have the potential to make the world even more unstable.

David Miliband told parliament that Russia is a key partner for the UK on issues such as climate change, Kosovo, Iran, Middle East peace and Sudan. He spoke of Russia’s role in the battles against terrorism, the proliferation of weapons of mass destruction, illegal migration, drugs and international crime. The list emphasised the depth of the relationship, but also underlined how much is now at stake. read more

Terry Macalister
Wednesday July 18, 2007

High oil prices have triggered a drilling boom off Britain but the big oil companies around which the North Sea energy industry was built are pulling investment out of this country and shifting their focus to what they see as more promising areas such as West Africa, the US Gulf and Russia.

In the latest switch, Shell has put up for sale a swath of oil and gas producing assets including the Cormorant, Tern and Eider fields while scrapping proposals for a £25m new “centre of excellence” in the UK oil capital, Aberdeen. Most of the assets are jointly owned by Exxon which is also selling out. read more

More pain to come as supplies are disrupted by strife and Opec turns screw

Terry Macalister
Wednesday July 18, 2007

Motorists in parts of Britain were being forced to fork out over £1 a litre yesterday but can be expected to pay more soon as crude prices soared again to nearly $77 a barrel.

Turmoil in the international oil markets, due to strong demand, geopolitical instability and a shortage of refining capacity, will put further upward pressure on forecourt prices. Huge profits are expected for oil companies such as BP and Shell, which report their half-yearly financial results next week. ExxonMobil, which also reports next week, has just become the world’s first company to be valued on a stock exchange at over half a trillion dollars (£250bn). read more

Tue Jul 17, 2007 5:40 PM BST
By Jeffrey Jones

CALGARY, Alberta, July 17 (Reuters) – Royal Dutch Shell Plc is taking a hard look at its Canadian unit’s multibillion-dollar project proposals while it integrates the business into worldwide operations, the executive in charge of the process said on Tuesday.

Before being fully acquired by Royal Dutch in April, Shell Canada had proposed a new heavy oil refinery in southern Ontario and has been a partner in plans for a C$16.2 billion ($15.6 billion) Arctic natural gas pipeline. read more

By HEIDI VOGT 07.17.07, 2:05 PM ET 
 
LAGOS, Nigeria – A Nigerian activist group called Tuesday for the closure of a major Shell oil pipeline, saying the company has not done enough to try to extinguish fires that have been burning on the line for weeks – polluting farmland and endangering residents.

The oil industry in Nigeria – Africa’s largest producer of crude – is plagued by militant groups that regularly kidnap workers and gangs that tap into pipelines to steal oil. Fires often erupt on oil pipelines that have been drilled by vandals. read more

Saturday 21st July – All Day.

Call Out from Erris for solidarity & support, imagination & action at Bellanaboy.

In support of Shell to Sea & 3 Erris Fisherman.

A day of solidarity and action at the refinery site at Ballinaboy has been called from Erris for Saturday, 21st July.

Following on from last weeks conviction and sentencing of 3 Erris fishermen, and the subsequent Shell site occupation on Fri 13th, and convoy of 300 vehicles to Bellanaboy on their bail release (pending their appeal to circuit court), this day of action has been called by and with the full support of the local community, who are revived in their vehemence against Shell, their government partners and violent Garda oppression. read more

Subject: Jim McGuire – Sakhalin – Web Posting

Dear Sirs,

This morning 17th July 2007 I used web search engines to find an article which was published as a result of a leak of information to your website.  According to your website, it was I (Jim McGuire) who had penned the above, which makes reference by name to certain members of SEIC and claiming to be the victim of all sorts of actions by people, some of whom I do not even know.  I was able to find the following article;

http://www.huliq.com/26856/shell-22-billion-sakhalin-2-project-devastated-by-insider-leaks read more

By Anthony DiPaola

July 17 (Bloomberg) — Italy’s competition regulator will take four months to review steps oil companies including Eni SpA and Royal Dutch Shell Plc have pledged to take to avoid fines in an inquiry into competition in the gasoline market.

Eni, Shell and six other companies selling gasoline at service stations in the country agreed to take steps aimed at avoiding non-competitive pricing practices, the Antitrust Authority said in a faxed statement yesterday.

The companies will allow more competition among service station operators by allowing them more leeway in changing and advertising prices and giving competitors access to some fuel storage space, according to Antitrust Authority’s Web site. read more

By Michael Blowers
Monday, July 09, 2007

Reputation measurement is such a complex thing and is the theme of a discussion on the royaldutchshellplc.com site which investigates the complexity of the task and its impact on tangibles like share price.

Stock values is all about putting a price on a company, which in the past was not that much of a problem as you tallied up the plant and machinery, other assets, etc added in some goodwill and presto you had a value for your firm. Today life is more complex and the majority of an organisations assets are classed as intangible. read more

Martyn Wingrove, Lloyds List
Published: Jul 17, 2007

THE world is finally beginning to open its eyes to the fact that oil supply shortages are looming as global oil production is pushed to peak levels.

The recent announcement by the well-respected International Energy Agency that the world is facing an oil crisis early in the next decade is a milestone for those that have predicted falling levels of oil production.

When the IEA cautions of a supply crunch in the opening two paragraphs of its medium-term oil market report, the world takes notice. But it is unlikely to react quick enough. read more

Martyn Wingrove, Lloyds List
Published: Jul 17, 2007

GAZPROM, Shell and Japanese investors have passed several milestones in the Sakhalin II project that will ensure oil and liquefied natural gas exports can begin by late 2008.

Sakhalin Energy Investment, which operates the $20bn integrated oil and liquefied natural gas project, said 2007 will be a pivotal year in bringing the project on stream.

‘Key milestones this year include the commissioning of Russia’s first LNG plant, installation of the PA-B topsides and commissioning of the pipelines,’ said Sakhalin Energy’s chief executive Ian Craig. read more

Published: Jul 17, 2007

JAKARTA, July 17 Asia Pulse – Investment in the oil and gas sector rose to US$8 billion in the first half of this year from US$7 billion in the same period last year, indicating growing interest shown by oil investors in doing business in the country.

Head of the Upstream Oil and Gas Regulatory Body (BP Migas) Kardaya Warnika described this year as a bright period for oil and gas sector.

A number of oil investors such as Shell and Premier have left the country, but now they are queuing with other investors to restart ventures in the country, Warnika said. read more