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The Times: Need to Know: Energy

May 17th, 2006
by admin.
  • 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.
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