AFX Europe (Focus): Shell gets $1 billion US dollars from US pipeline sale
October 5th, 2004:
Shell gets $1 billion US dollars from US pipeline sale
Shell and Unocal quit Xihu Trough gas project
Lloyds List: Shell and Unocal quit Xihu Trough gas project
ROYAL Dutch/Shell and US oil independent Unocal have pulled out of the Xihu Trough offshore natural gas project in the East China Sea because of failure to renegotiate commercial issues, writes Martyn Wingrove.”
Oct 05, 2004
ROYAL Dutch/Shell and US oil independent Unocal have pulled out of the Xihu Trough offshore natural gas project in the East China Sea because of failure to renegotiate commercial issues, writes Martyn Wingrove.
The two companies each held a 20% stake in the exploration and gas development project, but have terminated their involvement, leaving it in the hands of China National Offshore Oil Corp.
The two companies agreed to assume all the financial risks during the 12-month exploration phase, but were unable to move the project forward into a commercial project.
Lucrative oilfield in India that Shell decided to abandon
The Times: Business Editor’s Commentary: Entrepreneurs need vision, determination and bravery as do large companies if they are to prosper. Bill Gammell has all those qualities. He also has a very lucrative oilfield in India, which Shell decided to abandon. Sir Philip Watts would not have qualified for the first round of the Entrepreneur of the Year contest but Shell’s structure did not nurture genuine entrepreneurs.
By Patience Wheatcroft
October 05, 2004
BUSINESSES need to nurture the entrepreneurial spirit from which they sprang.
Last night, t a glitteirng dinner, the individual named Entrepreneur of the Year in the Ernst & Young search which is sponsored by The Times was the chief executive of a FTSE 100 company, Cairn Energy.
Entrepreneurs need vision, determination and bravery as do large companies if they are to prosper. Bill Gammell has all those qualities. He also has a very lucrative oilfield in India, which Shell decided to abandon.
Bit player steals show by striking black gold
The Times: Entrepreneur of the year: Bit player steals show by striking black gold
“Gammell had bought the oilfield from Shell, the oil giant, after it had decided there was little there of worth. He paid about £10 million for assets now valued by the stock market at £1.5 billion.”: “The fortunes of the oil giant — shaken by its reserves downgrade crisis — are in stark contrast to the start-up rival thrown into the big City spotlight.”
By Elizabeth Judge
5 Oct 04
BILL GAMMELL is the proof that it can happen. Just as every spear-carrier might one day take centre stage, so every unexceptional, small company owner can enjoy their big break.
Gammell was last night crowned Ernst & Young Entrepreneur of the Year. His tale begins with a “company changing” moment.
A 5am phone call from the deserts of Rajasthan, north- west India, in January brought good news. Cairn Energy, the company that the 51-year-old athletic Scotsman launched 24 years ago and named after the mounds of stones commonly used as memorials, had finally struck black gold.
Royal Dutch/Shell finds ‘light’ oil in Gabon, West Africa
AFX Europe (Focus): Royal Dutch/Shell finds ‘light’ oil in Gabon, West Africa
“Shell, the operator, and partner PanOcean Energy Corp are now considering further appraisal and development work on the field.”
Oct 05, 2004
LONDON (AFX) – The Royal Dutch/Shell Group said it found “light” oil at an exploration well it drilled in Gabon, West Africa.
Analysis of the well, known as Awokou-1, had indicated a “29-metre oil column in the Gamba sandstone with no gas cap in the drilled formation,” it said.
Shell, the operator, and partner PanOcean Energy Corp are now considering further appraisal and development work on the field.
A second well is to be drilled this month, Shell said.
Awokou-1 is located on the Koula prospect which is close to two oil producing fields — Total/Shell’s Avocette and PanOcean’s Obangue.
Shell : Nigerian Govt, Rebel Deal Calms Region For Oil Ops
THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: Shell : Nigerian Govt, Rebel Deal Calms Region For Oil Ops
“The recently appointed managing director of Royal Dutch/Shell Group’s (RD, SC) Nigerian unit, Basil Omiyi, said last week’s peace deal between the government and rebels in the Niger Delta will allow for stable oil operations.”
DOW JONES NEWSWIRES
October 5, 2004 6:34 a.m.
LAGOS — The recently appointed managing director of Royal Dutch/Shell Group’s (RD, SC) Nigerian unit, Basil Omiyi, said last week’s peace deal between the government and rebels in the Niger Delta will allow for stable oil operations.
“There will be a stable atmosphere for oil companies to carry out their activities,” Basil Omiyi said late Monday.
The Nigerian government and militant leader Moujahid Dokubo-Asari signed a peace deal last week, the fighting between government troops and Dokubo-Asari’s Niger Delta People’s Volunteer Force.