Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘May 18th, 2006’

Forbes/AFX News Limited: Shell to buy out BP's 50 pct stake in Kenya JVs for undisclosed sum

Shell to buy out BP's 50 pct stake in Kenya JVs for undisclosed sum

 

AMSTERDAM (AFX) – Royal Dutch Shell PLC unit Shell Petroleum Co Ltd said it has signed an agreement to acquire BP PLC's stake in their 50:50-owned oil products marketing joint venture companies in Kenya.

Shell did not disclose any financial details of the deal, saying that the commercial details are confidential.

The joint venture companies include Kenya Shell Ltd, BP Kenya Ltd and Shell & BP (Malindi) Kenya Ltd. 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.

RIA Novosti (Russia): Study on Sakhalin-II costs to be finished in summer – minister

Study on Sakhalin-II costs to be finished in summer – minister

11:22 18/ 05/ 2006
 

ST. Petersburg, May 18 (RIA Novosti) – Expert analyses of the rising costs of the giant Sakhalin II energy project should be completed over the summer, Russia's energy minister said Thursday.

“We are conducting an assessment of the Sakhalin-II project in relation to increased capital investment [in the project], the rising cost of the project and the initiative proposed by an investor,” Viktor Khristenko said, without giving a specific timeframe for the assessment.

Under the project, Sakhalin Energy is developing two vast offshore fields off the island of Sakhalin in Russia's Far East that hold estimated recoverable reserves of 150 million metric tons of oil and 500 billion cubic meters of gas. 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 18 May 2006

Oil News Roundup

The WALL STREET JOURNAL ONLINEMay 18, 2006

Crude-oil prices slid to less than $69 a barrel on Wednesday on the New York Mercantile Exchange. Here is today's well of news about oil and energy.

* * *

GADHAFI MEETS WITH CHAVEZ: Libyan leader Moammar al-Gadhafi, who has recently strengthened his ties with the U.S. and other Western nations, had a sit-down with Venezuelan President Hugo Chavez, who has been busy burning his bridges with the same nations. Both men lead OPEC member nations and the topic of their discussion, according to Mr. Chavez, was how to “maintain oil prices and avoid that they hit the floor again.” That should do little to help his popularity in the U.S. The men met at Mr. Gadhafi's Tripoli house, still damaged from a 1986 U.S. bombing attack. It was Mr. Chavez's fourth visit to Libya. Though both men have had very different relationships with the U.S. of late, they have long admired each other. 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.

Lloyds List: ExxonMobil and the race to save face after the Alaskan oil spill

ExxonMobil and the race to save face after the Alaskan oil spill

James Brewer
Lloyds List; May 18, 2006

var html = getInAdHTML(“box”,FTSite,FTSection,FTPage,FTIndustry); document.write(html);


if (showAd == 1) { var o = DOMGetElement(“artAd”); if (o) { DOMElementShow(o); } } else { var o = DOMGetElement(“artImg”); if (o) { DOMElementShow(o); } }

WILL ExxonMobil ever shake itself free of the Exxon Valdez? 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: Oil Falls on Higher US Gasoline Stocks, Inflation

Oil Falls on Higher US Gasoline Stocks, Inflation

By REUTERS
Published: May 17, 2006

Filed at 11:51 p.m. ET

Skip to next paragraph Reuters

SEOUL (Reuters) – Oil prices fell toward $68 a barrel on Thursday, pressured by rising U.S. gasoline inventories and concern that high energy costs are leading to inflation that could slow demand.

U.S. light crude oil (CLc1) was trading 18 cents lower at $68.51 a barrel by 0311 GMT, extending Wednesday's 84-cent loss. London Brent crude (LCOc1) slipped 12 cents to $68.92. 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: Cos. to Give Energy Shares to Bolivia

Cos. to Give Energy Shares to Bolivia

 

By THE ASSOCIATED PRESS
Published: May 17, 2006

Filed at 4:57 p.m. ET

LA PAZ, Bolivia (AP) — A Spanish bank and Swiss insurance company ended their standoff with the Bolivian government Wednesday, dropping demands for immediate compensation for handing over energy shares they administer for a public pension fund.

The Bolivian government on Monday gave Prevision and Futuro SA three days to hand over the shares in three companies as President Evo Morales' government reasserts control over the energy sector. 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.

Business Times (Malaysia): Shell Refining Q1 profit falls 69pc

Shell Refining Q1 profit falls 69pc
Business Times (Malaysia); May 18, 2006

var html = getInAdHTML(“box”,FTSite,FTSection,FTPage,FTIndustry); document.write(html);


if (showAd == 1) { var o = DOMGetElement(“artAd”); if (o) { DOMElementShow(o); } } else { var o = DOMGetElement(“artImg”); if (o) { DOMElementShow(o); } }

SHELL Refining Company (Federation of Malaya) Bhd saw its net profit fall 69 per cent to RM46 million for the first quarter of 2006, on lower realised refining margins, higher effective tax rate and reduced stockholding gains. 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.

UK Indymedia: Shell AGM: feedback from within the antiseptic portals of the Novotel H'smith

Shell AGM: feedback from within the antiseptic portals of the Novotel H'smith

Noisy Joe | 17.05.2006 01:20

Here's a report from a London Rising Tider with a single Shell share, who went into its Annual General Meeting, while others stayed outside to leaflet shareholders and passers-by. The main meeting took place in The Hague, with a video feed to London, or the Novotel Hammersmith, to be precise. I got in, surprisingly, (since I thought they would follow BP's lead and say no way), and took my usual vantage point in these situations, as close to the Chairman as possible, being the second row, as the first was taken up by eager beaver Shell employees in reserved seats. But seeing as the meeting was taking place in The Hague, and the only board member present in London was the rather abandoned-seeming Chair of Shell UK James Smith, there was really no heckling to be done that could have reached the ears of those assembled in The Hague, so I sat through interminable questions about whether the management was overpaying itself in order to have a chance to take the microphone for some gratuitous ranting of my own.

Actually, before I had my turn there were some good interventions from members of fenceline communities (ie. working class often black communities living right next to highly polluting and dangerous refineries and other facilities in countries like the US, South Africa, Nigeria and the Philippines). They exposed the sham of Shell's 'good neighbour' policy, but unfortunately seemed keen only to work with Shell to sort out their particular problems, and didn't take the opportunity to call for a turning away from oil and gas production for the sake of the long-term future of the planet. Of course, it's understandable that working class communities' prime motivation might be to create a liveable locale with decent job prospects, but in this time of planetary emergency, it would be great if Shell's most persistent and high-profile critics (outside the investment community that is) were able to widen their critique to address climatic collapse. 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.