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Posts on ‘May 4th, 2006’

MarketWatch: Shell CEO says to decide on Iran's persian LNG invest in 2007

MarketWatch: Shell CEO says to decide on Iran's persian LNG invest in 2007

May 4, 2006

LONDON (MarketWatch) — Royal Dutch Shell PLC (RDSB.LN) is to decide in 2007 whether to invest in Iran's Persian LNG project, its chief executive said Thursday.

Speaking at a press conference, Jeroen van der Veer said “we are aware of the short-term developments,” referring to international tensions surrounding the country's nuclear program. But he added “we intend to make a decision in the year 2007.” 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.

RTE News (Ireland): Shell regrets role in jailing of five Mayo men

Shell regrets role in jailing of five Mayo men

04 May 2006 17:10

Shell Ireland has said it regrets the part it played in the jailing of five men who protested against the construction of the Corrib gas pipeline in Co Mayo.

The company's Managing Director, Andy Pyle, said that mistakes had been made in the handling of the affair and apologised for any hurt that the imprisonment of the men had caused the local community.

He also said that the company was prepared to sit down with local people to discuss all options regarding the future of the construction of the pipeline. read more

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THE WALL STREET JOURNAL: Oil-News Roundup: 4 MAY 2006

Oil-News Roundup

The WALL STREET JOURNAL ONLINEMay 4, 2006

Oil prices plunged more than $2 to settle at nearly $72 a barrel Wednesday on the New York Mercantile Exchange after the U.S. government reported the first weekly increase in gasoline inventories in more than two months. Here is today's well of news about oil and fuel prices.

* * *

NO GOUGING FOR YOU: Having abandoned a controversial effort to placate U.S. gas consumers (and voters) with a $100 gas-tax rebate, Congress turned its attention back to the oil industry, as the House approved criminal penalties and fines of up to $150 million for energy companies caught price-gouging. The measure passed with overwhelming bipartisan support and seems likely to be popular in the Senate, as well. But a measure that would have made it easier for oil companies to expand or build refineries failed, due to environmental concerns and fear of stepping on local governments' toes. 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.

Irish Independent: 'I'm prepared to die rather than let this pass by my home,' says defiant protester

'I'm prepared to die rather than let this pass by my home,' says defiant protester
Irish Independent; May 04, 2006

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THE Rossport Five's Willie Corduff is willing to die rather than allow the Corrib gas pipeline pass by his doorway. read more

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THE NEW YORK TIMES: Oil Prices Sink Toward $72 a Barrel

Oil Prices Sink Toward $72 a Barrel

 

By THE ASSOCIATED PRESS
Published: May 4, 2006

Filed at 3:11 a.m. ET

SINGAPORE (AP) — Oil prices extended losses Thursday after a big drop the previous day that was caused by U.S. government data showing higher gasoline supplies.

Light sweet crude for June delivery sank 18 cents to $72.10 a barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, prices plunged $2.33 to settle at $72.28 a barrel after the U.S. Energy Department released a weekly petroleum report. The data showed a supply rise as refineries boost output and demand flattens. read more

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THE NEW YORK TIMES: Experts Debate Concern Over Source of Gas

Experts Debate Concern Over Source of Gas

By THE ASSOCIATED PRESS
Published: May 3, 2006

Filed at 10:56 p.m. ET

LOS ANGELES (AP) — President Bush has called for a 75 percent reduction in Middle Eastern oil imports by 2025. But drivers trying to get a jump on that goal by avoiding certain gas stations are finding there are no guarantees they are really avoiding oil from the Persian Gulf.

In fact, it's nearly impossible to determine where a particular service station gets its gasoline because crude oil that is refined into gas is traded among companies on a global market, said Jonathan Cogan, a spokesman for the U.S. Energy Information Administration. read more

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Irish Times: Corrib opponents warn of 'countdown to conflict'

Corrib opponents warn of 'countdown to conflict'
Lorna Siggins
Irish Times; May 04, 2006

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Opponents of the Corrib gas onshore pipeline in north Mayo have expressed “deep sadness” at the Minister's decisions and have warned of a “countdown to conflict” unless the project is reconfigured. read more

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Financial Times: LA PAZ INTENT ON REVERSING 'UNCONSTITUTIONAL' PRIVATISATION OF GAS SECTOR

LA PAZ INTENT ON REVERSING 'UNCONSTITUTIONAL' PRIVATISATION OF GAS SECTOR

By Hal Weitzman in Lima
Published: May 4 2006 03:00 | Last updated: May 4 2006 03:00

The Bolivian government's position on nationalisation begins from the premise that the contracts under which foreign investors are currently operating in the natural gas sector are unconstitutional, writes Hal Weitzman in Lima.

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read more

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Financial Times: Shell’s profits rise despite fall in production

Main page content:

Shell’s profits rise despite fall in productionBy Helen Thomas
Published: May 4 2006 08:38 | Last updated: May 4 2006 08:38

ShellThe impact of last year’s hurricanes and civil disturbances in Nigeria hit Royal Dutch Shell’s production, the oil major said on Thursday, but high oil and gas prices still boosted profit in the first quarter of 2006.

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Shell’s earnings on a current cost of supply basis – the industry standard which excludes changes in inventory values – rose 12 per cent to $6.1bn (£3.3), ahead of consensus forecasts at $5.6bn.

But production at Europe’s second largest oil company fell 3 per cent in the quarter, to 3.75m barrels of oil equivalent (boe) per day as attacks by militants in Nigera prompted a partial shut-down in the country and the effect of last year’s hurricanes deferred production in the Gulf of Mexico. read more

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BLOOMBERG: Shell Profit Beats Estimates; Nigeria Production Hurt (Update2)

Shell Profit Beats Estimates; Nigeria Production Hurt (Update2)

 

May 4 (Bloomberg) — Royal Dutch Shell Plc, Europe's second-largest oil company, said first-quarter profit rose as near-record oil prices compensated for output losses caused by violence in Nigeria and hurricane damage in the Gulf of Mexico.

Net income increased 3 percent to $6.89 billion, or $1.05 a share, from $6.68 billion, or 99 cents a share, a year earlier, The Hague-based company said today. Profit excluding inventory changes beat analyst estimates. read more

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Reuters: Shell profit beats forecasts

Shell profit beats forecasts Thu May 4, 2006 7:47 AM BST
 

By Tom Bergin

LONDON (Reuters) – Royal Dutch Shell beat analysts' forecasts and reported a 12 percent jump in first-quarter profit on Thursday, as oil prices more than compensated for falling production.

Shell (RDSa.L: Quote, Profile, Research) said in a statement that current cost of supply net income, which strips out changes in the value of inventories, was $6.088 billion (3.32 billion pounds).

Excluding a non-operating gain of $113 million, the result was $5.975 billion, ahead of an average forecast of $5.56 billion in a Reuters poll of seven analysts. read more

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The Independent: Royal Dutch Shell banks £1.5m profit an hour

Royal Dutch Shell banks £1.5m profit an hour

By David Winning, PA

Published: 04 May 2006

Royal Dutch Shell announced today that it banked profits of £1.5 million an hour, as first-quarter figures again showed the benefit of sky-high oil prices.

The Anglo-Dutch giant said its earnings totalled 6.09 billion US dollars (£3.31bn) between January and March – up from 5.46 billion US dollars (£2.97bn) last year, and nearly 10% ahead of analysts' estimates.

But profits would have been higher if attacks by militants in Nigeria had not disrupted production there and prevented Shell from bringing 165,000 barrels of oil a day to the market. 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.