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Posts on ‘May 17th, 2006’

Reuters: Canada oil sands firms hope for gains from Shell bid

Reuters: Canada oil sands firms hope for gains from Shell bid

 

By Scott Haggett

 

CALGARY, Alberta (Reuters) – It's clear to everyone in Canada's booming oil sands sector that Shell Canada Ltd. (SHC.TO: Quote) is ready to pay a premium price for tiny Blackrock Ventures Inc. (BVI.TO: Quote), valuing Blackrock reserves at close to C$4 a barrel, or three times the price of previous deals.

 

What is less clear is whether the rest of the industry will reap similar valuation gains, or whether Shell's offer will be a one-off, reflecting the close fit between its operations and BlackRock. 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.

Houston Chronicle: Shell Board Defeats Draft Resolution

Shell Board Defeats Draft Resolution

By FIA CURLEY Associated Press Writer © 2006 The Associated Press

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THE HAGUE, Netherlands — The directors of Royal Dutch Shell board soundly defeated a proposal Tuesday from an environmental group of shareholders to tighten oversight on ecologically risky ventures and enforce closer cooperation with local communities.

After a discussion at Shell's annual general meeting that grew heated at times, the proposal was defeated by 93 percent of the vote representing more than three billion shares. read more

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Houston Chronicle: Shell aims for Nigeria restart

Shell aims for Nigeria restartDelta region work could resume in a few weeks

Bloomberg News

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Royal Dutch Shell may resume work in the next few weeks in parts of the Nigeria's Delta region affected by rebel attacks, Shell's head of exploration and production said Tuesday.

Shell, state-run Nigerian National Petroleum Corp. and other partners in the joint venture were losing about 455,000 barrels a day of oil output at the end of March because of violence. About one-third of the loss was Shell's share. 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 NEW YORK TIMES: What's Kind to Nature Can Be Kind to Profits

What's Kind to Nature Can Be Kind to Profits

Jim Wilson/The New York Times

MADE IN THE SUN BP, which produces solar panels in Frederick, Md., hopes for revenues of $1 billion from solar power by 2008.

By MATTHEW L. WALD
Published: May 17, 2006

GENERAL ELECTRIC would like you to know that it makes the world's most efficient electric generators, part of its Ecomagination program of clean technologies. BP, which used to be an abbreviation for British Petroleum but is now the company's official name, is promoting itself as “Beyond Petroleum,” with solar cells and wind. read more

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THE NEW YORK TIMES: Oil Rebounds Toward $70 After Two – Day Dip

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Oil Rebounds Toward $70 After Two – Day Dip

By REUTERS
Published: May 16, 2006

Filed at 11:23 p.m. ET

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SEOUL (Reuters) – Oil prices edged higher for a second day toward $70 a barrel, bouncing from sharp losses sparked by worries that high prices were denting demand.

U.S. light crude oil (CLc1) was up 25 cents at $69.78 a barrel by 0130 GMT in Asian trading. On Tuesday, it gained a modest 12 cents after the previous session's sharp drop in prices as investors feared high crude and materials prices could slow demand for oil and hurt economic growth. read more

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Lloyds List: Shell puts safety first in Nigerian oil fields

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Shell puts safety first in Nigerian oil fields
Staff protection to be boosted, writes Martyn Wingrove
Lloyds List; May 17, 2006

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ROYAL Dutch Shell is seeking tenders for up to 70 boats, hovercraft, landing craft and small ships to strengthen crew transport operations in its oil fields in Nigeria as it also seeks to boost security in the region. 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 WALL STREET JOURNAL: Oil-News Roundup 17 May 2006

Oil News Roundup

The WALL STREET JOURNAL ONLINEMay 17, 2006

Crude-oil prices recovered on Tuesday from a steep decline, approaching $70 a barrel on the New York Mercantile Exchange. Here is today's well of news about oil and energy.

* * *

ECUADOR DENIES NATIONALIZATION URGE: A day after kicking California's Occidental Petroleum out of the country, Ecuador's government said it had no interest in following in the footsteps of Venezuela and Bolivia and nationalizing its energy industry. Latin America's No. 5 oil producer Monday seized Occidental's assets, raising market fears that a regional nationalization trend begun by Venezuela's Hugo Chavez was continuing. Energy Minister Ivan Rodriguez denied any such desire on the government's part. But the Occidental dispute has been encouraged by leftists in the country, who Tuesday cheered the company's ouster and said nationalization was the next logical step. Occidental shares fell more than 2% today. 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: Shell's critics come back with a vengeance

AGM protests Shell's critics come back with a vengeance

Campaigners queue up to attack oil group's 'hypocrisy'

Terry Macalister
Wednesday May 17, 2006
The Guardian

The young man in the checked yellow shirt, khaki shorts and climbing boots stood out from the army of grey-haired and smartly dressed pensioners who made up the bulk of the Shell investors. But his message to the oil company at its annual meeting yesterday – that it was “astonishingly hypocritical” – was far from unique.

A procession of speakers took the podium in The Hague and via video link in London to berate the chief executive, Jeroen van der Veer, for what they saw as his failure to live up to his promises.

“You said, Mr van der Veer, that you take care of biodiversity. Perhaps that is in the way tat the mafia 'takes care' of its enemies: gets rid of them,” said the yellow-shirted Mark Brown, from the campaign group Rising Tide. 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 Times: Need to Know: Energy

Royal Dutch Shell, the Anglo-Dutch oil and gas giant, assured shareholders at its annual meeting in The Hague that its Sakhalin-2 gas project in Russia’s Far East remains on course with its revised schedule and budget.
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Xstrata, the mining group, boosted its copper division after agreeing to buy the Tintaya mine in Peru from BHP Billiton, its Anglo-Australian rival, in a deal worth up to $860 million (£456 million). Peter Hambro and Pavel Maslovsky, executive directors and controlling shareholders of Peter Hambro Mining, waived their right to a share of a $15 million one-off bonus relating to the Pioneer gold project. Northern Petroleum, which is listed on the AIM, has raised £20 million through a placement to fund further exploration work in the Netherlands. Shares in Sibir Energy fell after the London-based company admitted that its attempt to regain a half-share of a Russian oilfield from Gazprom through court action in the British Virgin Islands had failed.
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.

Daily Telegraph: Database: Energy

Energy

• Royal Dutch Shell hired 1,800 mid-career professionals last year and plans to complete 50 major energy projects by 2009, the company's chief executive officer said.

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.