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September 26th, 2007:

Financial Times: BP moves to clarify ‘dreadful’ comment

By Ed Crooks
Published: September 26 2007 03:00 | Last updated: September 26 2007 03:00

BP shares fell yesterday after the Financial Times reported that Tony Hayward, chief executive, had told staff that thecompany’s revenues in the third quarter had been “dreadful”.

He also told employees at a “town hall” meeting in Houston to expect a restructuring of the company to reduce its complexity and raise efficiency.

His comments were reported in an internal note of the meeting that was leaked to the FT. The shares fell 17p to 572½p. read more

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Financial Times: BP chief learns lesson one in the PR cookbook

By Chris Hughes
Published: September 26 2007 03:00 | Last updated: September 26 2007 03:00

Tony Hayward, the new chief executive of BP, was naïve when he lambasted a hundred senior executives for the company’s “dreadful” operating performance and assumed the comment would not leak out. But this should not be a hanging offence.

Details of Mr Hayward’s frank pep-talk were revealed in the FT yesterday. BP’s share price duly slid as investors feared that he was conveying new information about the company’s forthcoming third-quarter results. Had that been true, Mr Hayward would have committed a serious gaffe. Price-sensitive information should be conveyed to the market in an orderly way – not in ad hoc briefings of senior staff. 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.

Reuters: Iranian firms feel the heat as sanctions bite

Wed Sep 26, 2007 8:17 AM ET
By Fredrik Dahl and Edmund Blair

TEHRAN (Reuters) – When a Western bank suddenly suspended the account of her family freight firm, Nazila Noebashari revived a financial practice she thought long gone: she sent staff to the Afghan border to collect $50,000 by hand.

With foreign banks increasingly closing down business with Iranian customers in the face of U.S.-led sanctions, such physical transactions are the only way Traf Co Ltd and many other firms in Iran are staying in business. 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.

International Herald Tribune: A new Kazakh law is a threat to contracts with foreign oil companies

ReutersPublished: September 26, 2007

ASTANA, Kazakhstan: Kazakh lawmakers passed a bill Wednesday allowing the government to unilaterally break contracts with foreign companies, potentially threatening an Italian-led consortium developing a giant oil field.

Kazakhstan has already stopped operations at the huge Kashagan oil field, run by the Italian energy firm Eni, in a conflict over mounting costs and project delays, but the legislation raises the stakes still further.

The unanimous vote in the lower house of Parliament gave the state extra leverage over Eni and its main partners, Royal Dutch Shell, Exxon Mobil and ConocoPhillips as talks over Kashagan enter their final stage ahead of an Oct. 22 deadline. read more

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Bloomberg: Kazakh Parliament Amends Subsoil Law Amid Eni Dispute (Update3)

By Nariman Gizitdinov

Sept. 26 (Bloomberg) — Kazakhstan’s lower chamber of parliament approved changing a law to let the government cancel contracts with oil companies, raising the stakes in a dispute with Eni SpA over the Kashagan venture.

“The new amendments were approved unanimously without any changes,” Yerlan Nigmatulin, a lower-chamber deputy and member of President Nursultan Nazarbayev’s NurOtan party, said today in an interview from the capital, Astana. The amendments are expected to be approved by the upper chamber tomorrow and then signed by the president, he said. 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.

Bloomberg: Nuclear, Biofuel, Oil Sands Needed to Cut Emissions, Shell Says

By Mathew Carr

Sept. 26 (Bloomberg) — Governments must allow energy companies to produce fuels from all sources as lawmakers find the best solution to curb emissions blamed for climate change, a Royal Dutch Shell Plc executive said.

Wind farms are expensive, nuclear stations have difficulty dealing with waste, biofuels boost food prices and oil sands produce even higher emissions than oil, James Smith, chairman of Shell’s U.K. unit, said yesterday in Oxford, England.

“Energy demand is going to continue to accelerate,” Smith told a climate debate held by the Association of Masters of Business Administration, an educational and networking group. If lawmakers reject some energy sources, “we won’t get anything left.” read more

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MalaysianBar.Org: Walk for Justice: ‘When lawyers walk, something must be very wrong’

Malaysian Bar photograph

Contributed by Web Reporter    
Wednesday, 26 September 2007, 04:41pm 

Related article:

CORRUPTION CRISIS IN MALAYSIAN JUDICIARY IMPACTS ON SHELL LITIGATION

PUTRAJAYA, Wed: “Lawyers don’t walk everyday. Not even every month. But when they walk, then something must be very wrong,” said Chairman of the Bar Council Ambiga Sreenevasan when addressing a strong crowd of more than 2,000 members of the Malaysian Bar and some concerned citizens at the Palace of Justice before the commencement of the walk to the Prime Minister’s office to hand over the Bar’s memorandum urging the government to set up a Royal Commission of Inquiry to probe the state of judiciary and memorandum on the establishment of a judicial appointments and promotion commission. 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.

UpstreamOnline: Hofmeister backs greenhouse gas caps

By Upstream staff

The head of Anglo-Dutch supermajor Shell’s US operations, John Hofmeister, said today that governments need to enact mandatory limits on greenhouse gas emissions and not rely on voluntary measures to battle global warming.

“I think that voluntary is not fast enough,” Shell Oil president Hofmeister told an environmental event, Reuters reported. “I think it’s time for government to lead on this issue.”

“If government doesn’t lead on this its not going to happen. It’s as simple as that,” Hofmeister said. 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.

EarthTimes.Org: Baard Energy Acquires Technology License From Shell for Ohio Coal-to-Liquids Project

Posted : Tue, 25 Sep 2007 19:01:01 GMT
Author : Baard Energy, L.L.C. 

VANCOUVER, Wash., Sept. 25  /PRNewswire/ — Baard Energy, L.L.C., an energy project development company headquartered in Vancouver, Washington, has acquired a technology license from Shell U.S. Clean Coal Energy Inc. to use the Shell Coal Gasification Process in the gasification portion of its proposed $5 billion coal-to-liquid fuel (CTL) project located in Columbiana County, Ohio.  The project will produce over 50,000 barrels per day of jet and diesel fuel, and other liquid products from coal and biomass feedstock. 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.

Reuters: Sakhalin-2 confirms winter crude export delays

Tue Sep 25, 2007 5:37am EDT

MOSCOW, Sept 25 (Reuters) – Russia’s Sakhalin-2 energy group confirmed on Tuesday it would delay year-round exports of crude to 2008 from the end of 2007, but was sticking to its liquefied natural gas deliveries timetable.

The delay will mean lower-than-expected winter supplies of a highly-sought light crude to a tight oil market worried about peak heating season demand and already facing record prices.

“Year-round exports of crude will start in the first half of 2008. As to the LNG deliveries we plan to send the first cargoes in the second half of 2008,” said a spokeswoman for Sakhalin Energy, a consortium developing Sakhalin-2. 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.

Reuters: Malaysia lawyers hold rare demonstration for reform: 800 Malaysian lawyers on protest march today

Reuters image

Malaysian lawyers march through the main street of Putrajaya outside Kuala Lumpur during a protest September 26, 2007. REUTERS/Bazuki Muhammad

Related article:

CORRUPTION CRISIS IN MALAYSIAN JUDICIARY IMPACTS ON SHELL LITIGATION

By Reuters
Wednesday September 26, 01:05 PM
By Jalil Hamid

PUTRAJAYA, Malaysia (Reuters) – About 800 Malaysian lawyers marched on the prime minister’s office on Wednesday to demand reforms to the country’s judiciary after a scandal erupted over claims of political meddling in the appointment of judges. 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.

Financial Times: US House backs tough Iran sanctions

By Daniel Dombey andHarvey Morris at the UN and Hugh,Williamsonin Berlin
Published: September 26 2007 03:00 | Last updated: September 26 2007 03:00

The US House of Representatives backed a tough new Iran sanctions bill yesterday which would punish energy companies that invested in Iran – brushing aside lobbying from European governments and opposition from the Bush administration.

The 397-16 vote on the Iran Counter-Proliferation bill, which would make sanctions mandatory on energy companies investing more than $20m (€14.1m, £9.9m) in the Islamic republic, came a day after President Mahmoud Ahmadi-Nejad of Iran gave a speech at Columbia University, New York, and hours before he addressed the United Nations. 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.

Financial Times: Reason for pursuit lies downstream

By Ed Crooks and Haig Simonian
Published: September 26 2007 03:00 | Last updated: September 26 2007 03:00

With the whole Hungarian establishment and about40 per cent of its target’s shareholding ranged against it, OMV’s pursuit of Mol might seem quixotic.

But the potential prize, if the deal is done right, could be great.

OMV spoke yesterday about the benefits of a takeover in terms of upstream activities, such as the greater negotiating power a combined group would have in exploration and production deals. But the real benefits would be in acquiring Mol’s downstream assets: its refineries and petrol stations. 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.

Financial Times: Sutherland hands on till the end

By Emiliya (edited by) Mychasuk and Emiko (edited by) Terazono
Published: September 26 2007 03:00 | Last updated: September 26 2007 03:00

Speculation has begun on when the search for the next chairman of BP might get under way, ahead of the current end of the term for hands-on chairman Peter Sutherland in about 18 months.

The 61-year-old’s contract had been extended “into 2009”, after Tony Hayward had replaced Lord Browne as chief executive as a result of the latter’s own abrupt retirement. 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.

The New York Times: Iranian Firms Feel The Heat as Sanctions Bite

By REUTERS
Published: September 25, 2007
Filed at 8:30 p.m. ET

TEHRAN (Reuters) – When a Western bank suddenly suspended the account of her family freight firm, Nazila Noebashari revived a financial practice she thought long gone: she sent staff to the Afghan border to collect $50,000 by hand.

With foreign banks increasingly closing down business with Iranian customers in the face of U.S.-led sanctions, such physical transactions are the only way Traf Co Ltd and many other firms in Iran are staying in business. 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.

The New York Times: House Votes For Tighter Iran Energy Sanctions

By REUTERS
Published: September 25, 2007
Filed at 1:40 p.m. ET

WASHINGTON (Reuters) – Legislation mandating sanctions on foreign energy companies doing business with Iran was passed on Tuesday by the House of Representatives, which approved removing the president’s power to waive the penalties as previous administrations have done.

Bush administration officials and some business groups have expressed unease over the bill, which could hit European energy groups. It passed by 397-16, easily enough to overcome any presidential veto. However, its future is murky in the Senate, where similar legislation has 69 co-sponsors but has yet to have a hearing. 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.

The New York Times: U.S. Courts the Visiting President of Turkmenistan

By DAVID L. STERN
Published: September 26, 2007

ALMATY, Kazakhstan, Sept. 25 — American officials, striving to weaken the grip of Gazprom, Russia’s state-owned energy monopoly, in Central Asia, are courting the president of Turkmenistan on his first visit to the United States.

The visit by Gurbanguly Berdymukhammedov, the first by a Turkmen president since 1998, included a meeting Tuesday with Secretary of State Condoleezza Rice at the United Nations and on Wednesday will revolve around the opening of the General Assembly. 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.

From The Guardian: Market Forces

Nick Fletcher
Wednesday September 26, 2007

Oil group BP slipped 17p to 572.5p after new chief executive Tony Hayward reportedly told a staff meeting in Houston that its third quarter figures would be “dreadful”. Mr Hayward also said he planned to streamline the company’s organisational structure.

Royal Dutch Shell was down 34p to £20.42 following reports that Kuwait wanted to drop the company as a partner in a $5bn refinery project in China.

For the full market report go to… 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.

Daily Telegraph: Leak suggests that bloated BP’s pain isn’t over yet

By Tom Stevenson
Last Updated: 1:50am BST 26/09/2007

The leak of Tony Hayward’s comments to a “town hall” meeting of BP staff in Houston did not come from the top but the new boss won’t complain if the market finally faces up to the oil giant’s operational problems.

Hayward’s admission that BP can work better with seven managerial layers rather than the current 11 is an indication of how bloated the company became under Lord Browne. BP is not the only oil major struggling at the moment. Both Shell and Exxon missed their second-quarter production targets too. But the stock market usually gets it about right and BP’s share price performance compared with its main rivals points to a business in need of major surgery. 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.

Reuters: Shell says Port Arthur restart on schedule

Tue Sep 25, 2007 10:23am EDT

NEW YORK, Sept 25 (Reuters) – Shell Oil Co (RDSa.L: Quote, Profile, Research) said Tuesday it was still bringing its joint venture refinery in Port Arthur, Texas, back up to full rates after it lost power on Sept. 13 due to Hurricane Humberto.

“We are progressing according to schedule,” said Sue Parsley, a spokeswoman for the 285,000 barrel per day refinery.

Shell has said that it and Saudi Refining, its joint venture partner, plan to increase the Motiva Enterprises refinery’s capacity to 600,000 bpd. 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.