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Posts on ‘August 10th, 2004’

Bloomberg: Shell Makes Oil Find in Russia, Sees Reserves Boost

Bloomberg: Shell Makes Oil Find in Russia, Sees Reserves Boost

“Shell, Europe’s second-largest oil company, is counting on projects in Russia to help boost falling output and reserves”

Aug. 10 (Bloomberg) — A Royal Dutch/Shell Group venture in Russia said an exploration well it drilled at the Upper Salym field in western Siberia found oil and should allow the company to boost its reserves at the site.

The well, drilled to 2,316 meters into the Bonus structure at the field, found an estimated 16 meters of oil-bearing sand, the venture said in a statement. Testing of the well is scheduled for the northern autumn this year, it said.

Shell, Europe’s second-largest oil company, is counting on projects in Russia to help boost falling output and reserves. Its venture is spending more than $1 billion to develop the three Salym fields, which hold reserves equal to about 16 percent of those Shell removed from its holdings earlier this year. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Guardian: BP’s buyback boost begins to fizzle

The Guardian: BP’s buyback boost begins to fizzle

Neil Hume

Tuesday August 10, 2004

Oil group BP lagged behind rival Shell yesterday amid fears that Britain’s biggest quoted company will be forced to stop buying its own shares this month.

BP has one of the most aggressive buyback programmes in the London market. It has acquired 380m shares at a cost of $3.25bn (£1.8bn) this year and since reporting interim figures at the end of last month stepped up the size of its purchases from 5.5m to 11m a day.

Along with the buoyant oil price, those buybacks have helped to support the BP share price, which last week hit 520p – its highest level since August 2002. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

ExxonMobil’s role within Russia

Financial Times: ExxonMobil’s role within Russia

By Tom Cirigliano

Published: August 10 2004

From Mr Tom Cirigliano.

Sir, While your Comment & Analysis article of August 5 keenly addresses the importance Russia plays on the international oil scene, I am concerned that the reference to the fact that “analysts say that ExxonMobil . . . has a relatively small presence in Russia” leaves your readers with a wrong impression of ExxonMobil’s truly significant investment in the country. ExxonMobil is one of the largest investors in Russia as operator of the $12bn-plus Sakhalin 1 Project. The fact that Shell’s smaller Sakhalin 2 project is mentioned in the article adds to this impression. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Praxair And CSPC Sign Industrial Gases Supply Pact For Petrochemical Complex In Guangdong, China

The Wall Street Journal: Praxair And CSPC Sign Industrial Gases Supply Pact For Petrochemical Complex In Guangdong, China

“Praxair Inc. (PX) agreed to supply the oxygen and nitrogen requirements of a $4.3 billion petrochemical complex that CNOOC and Shell Petrochemicals Co. is building in China.”

DOW JONES NEWSWIRES

Posted 10 August 04

DANBURY, Conn. — Praxair Inc. (PX) agreed to supply the oxygen and nitrogen requirements of a $4.3 billion petrochemical complex that CNOOC and Shell Petrochemicals Co. is building in China.

In a press release Monday, Praxair said it will start supplying oxygen and nitrogen to CNOOC and Shell Petrochemicals’ facility in the Guangdong Province in May.

A Praxair spokesman declined to disclose financial terms.

Industrial gas concern Praxiar will build pipelines to supply oxygen and nitrogen to all other chemical and petrochemical customers in Daya Bay Economic and Technical Development Zone. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Philadelphia Inquirer: Gas stations change brands and strategy

Philadelphia Inquirer: Gas stations change brands and strategy

“Peebles said it is unclear what is going to happen to the rest. Those that Shell owns could be sold or closed. ”

New names such as Valero and Lukoil appear. The industry turns to independent firms to do its marketing and delivery.

By Harold Brubaker

Inquirer Staff Writer

Posted 10 August 04

Your old Texaco suddenly sports Shell’s bright red and yellow. Amoco’s torch is giving way to BP’s multicolored sunburst. Lukoil and Valero gas stations are popping up around Philadelphia.

This shifting of brands at gasoline stations – those conspicuous features of the commercial landscape that link most Americans to Big Oil – is the aftershock from dramatic industry consolidation since the late 1990s. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

CEO of Shell Hydrogen, reveals Shell Hydrogen’s new concept of Mini-networks

autoindustry.co.uk: CEO of Shell Hydrogen, reveals Shell Hydrogen’s new concept of Mini-networks

Posted 10 August 2004

Jeremy Bentham, CEO of Shell Hydrogen, revealed Shell Hydrogen’s new concept of “Mini-networks” as “Lighthouse Projects” to guide the development of the Hydrogen Market at the World Hydrogen Energy Conference in Japan on 1 July.

During the conference Bentham unveiled a proposal to develop a new generation of “Lighthouse Projects” that more accurately represent the reality of what the future will look like. “People need to be able to witness the wonder of hydrogen technology for themselves – not just read about it,” he said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Peru tribes fear gas may bring extinction

FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE…

iol.co.za: Peru tribes fear gas may bring extinction

Environmentalists say Shell’s contact in the 1980s wiped out half of the Yora tribe, pushing it toward extinction. Companies risk wiping out tribes with little or no contact with the outside world because pipeline workers expose them to diseases to which they have no immunity…

By Eduardo Orozco

Posted 10 August 2004

Malvinas, Peru – When Peru Camisea natural gas reserves arrive in Lima on Friday the economic boon they promise will come at a high price, the fear of extinction among the remote jungle tribes along the pipeline corridor.

Two decades after they were discovered, the Camisea reserves are expected to bring in about $8-billion in royalties for the government over a 40-year lifetime, generate billions of dollars in gas exports and slash Peru’s $700-million a year dependence on hydrocarbon imports. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

BBC NEWS: Peru prepares for the gas age

BBC NEWS: Peru prepares for the gas age

“Shell first had the contract to develop the fields, but left the project after a row with Peru’s former president, Alberto Fujimori.”

By Hannah Hennessy

BBC reporter in Lima, Peru

Posted 10 August 04

Something good is arriving. That is the slogan marking the launch of Camisea, the most ambitious energy project in Peruvian history.

For the economy of the cash poor but resource rich South American nation, the slogan could not be more apt.

But it has been a long and contentious journey.

More than twenty years after natural gas was discovered deep in the Amazon jungle, Peru’s President Alejandro Toledo has inaugurated a $1.6bn project to pipe it across the Andes and up the Pacific coast to Lima. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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