Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘June 1st, 2006’

Forbes/AFX News Limited: Total strikes oil at offshore Dissoni block in Cameroon

06.01.2006 
 
PARIS (AFX) – Total SA said the first exploration well drilled in the Dissoni offshore block of Cameroon has found oil, adding that further appraisals will be carried out to determine the field’s potential.

Total is the operator of the block with a 50 pct stake, alongside Royal Dutch Shell PLC’s Pectan unit. The block was awarded to the companies in April 2005.

‘The latest discovery validates Total’s strategy of capitalising on its operated acreage in Cameroon, as well as its commitment, alongside its partners and the authorities, to offsetting the natural decline in production from mature fields,’ the company said. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

MarketWatch: Syria aims to maintain output at 400,000 barrels a day

June 1, 2006

CARACAS (MarketWatch) Syria aims to maintain it petroleum output at around 400,000 barrels of oil equivalent a day in the years ahead by awarding new exploration blocks and raising recovery from existing fields, the country’s petroleum minister said Wednesday.

Speaking ahead of an Organization of Petroleum Exporting Countries meeting here, Sufian al-Alao said he expected to award Blocks 13 and 15 in Western Syrian to Royal Dutch Shell PLC (RDSB.LN) in around a month.

He also said Syria was in discussions to award Block 7 to a Ukrainian oil company.
Syria’s output has declined from around 600,000 barrels of oil equivalent a day in the mid 1990s. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

RIA Novosti (Russia): Sakhalin-II supervisory board approves $2 bln financial plan

Russia: 20:10 | 01/ 06/ 2006

MOSCOW, June 1 (RIA Novosti) – Sakhalin-II project’s supervisory board approved a program and financial plan for 2006 totaling $2 billion, the energy ministry said Thursday.

The plan for the ambitious energy project to supply liquefied natural gas to Japan, Korea and the United States, was adopted in accordance with a production sharing agreement and a complex exploration plan, but the supervisory board will continue to analyze the need to increase the costs, the Ministry for Industry and Energy’s press service said. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Eurasia Daily Monitor – Washington,DC,USA: CHINESE INVESTORS CONSIDER JOINT PROJECTS WITH RUSSIAN FAR EAST

By Sergei Blagov

Thursday, June 1, 2006

Moscow and Beijing have long hailed regional cooperation as an important element of bilateral ties. While meeting Volgograd Governor Nikolai Maksyuta on May 27, Wu Bangguo, chairman of the Standing Committee of China’s National People’s Congress (NPC), noted that the Volgograd region has enjoyed successful cooperation with China’s Jilin province (RIA-Novosti, Xinhua, May 27).

Meanwhile, Beijing appears to emphasize cooperation with Russia’s energy-rich regions. Notably, China’s State Bank for Development (CSBD) has begun to finance Chinese-owned companies in Sakhalin. According to bank vice-president Wang Yi, Sinopec Oil, as well as the Xinzhou and Chinese Engineering construction firms, have received loans from CSBD. On May 19, Chinese bankers met the first deputy governor of Sakhalin, Sergei Sheredkin, to discuss investment cooperation among the CSBD, Russia’s state-run Vneshekonombank, and the Sakhalin region. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

AFX News Limited: Shell cuts southern Nigeria output by 50,000 bpd due to oil spill

06.01.2006

LAGOS (AFX) – A major oil spill has forced Royal Dutch Shell PLC to cut production by 50,000 barrels per day in southern Nigeria, a company spokesman said.

[email protected]

afp/cml
 

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Dow Jones Newswires: Shell Makes Natural Gas Discovery in the North Sea

By Spencer Swartz, Dow Jones Newswires  

LONDON

Royal Dutch Shell PLC (RDSA) said Wednesday it has found around 3 billion cubic meters of natural gas, or 18 million barrels of oil equivalent, in two North Sea blocks.

The Anglo-Dutch company said in a statement it planned to develop the gas finds, in the southern North Sea, under the names Shamrock North and Shamrock South.

“Shamrock is likely to come on stream in 2008,” Shell said.

The gas finds, of which Shell has 100% interest, are equal to less than 5% of the U.K.’s current annual gas demand, which has been increasingly driven by the growing number of gas-fired power plants. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

The Daily Sentinel (Colorado): Oil shale a ‘solid gold investment’

Chairman of Senate Energy and Natural Resources says oil shale could be in commercial production within a decade

Thursday, June 01, 2006

By SALLY SPAULDING and GARY HARMON

Oil shale is going to turn out to be “a solid gold investment,” Sen. Pete Domenici, R-N.M., said to members of Club 20 and Associated Governments of Northwest Colorado on Wednesday night.

Domenici, chairman of the Senate Energy and Natural Resources Committee, plans to preside over a field hearing today in Grand Junction, further exploring local concerns, issues and comments on oil shale. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Mercury News: Defiant gas dealer battling Big Oil Goliath in protest

MISSION COSTING HIM HIS HOME, LIVELIHOOD

By Ken McLaughlin

Like many Californians these days, Mehdi Shahbazi rails against Big Oil cartels, price gouging and the pain consumers feel at the pump.

But Shahbazi is different: He’s a gasoline dealer on a personal mission.

Shahbazi is also going broke because of a long-running battle with Shell Oil. He just lost his $1 million Carmel condo. The pumps at his beloved gas station in Marina have been fenced off. The beer cooler in his mini-mart is empty because he can’t pay suppliers. He’s living in his minivan. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

The Port Arthur News: Purves to leave PA refinery

PORT ARTHUR — The general manager of a local refinery will soon be moving up the corporate ladder.

Tom Purves, manager of the Motiva Enterprises refinery in Port Arthur, has been named vice president of manufacturing operations for the Americas.

According to a press release from Motiva, Purves will begin the new position on July 1 and will be based in Houston.

Purves has been with Shell/Motiva for 27 years and has worked in a variety of production and engineering roles at a number of sites, including Norco, Deer Park, Wood River and Bakersfield. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Rocky Mountain News: Lawmakers get rare glimpse of shale project

By Gargi Chakrabarty,
June 1, 2006

MEEKER – U.S. Sens. Pete Domenici and Ken Salazar toured a private patch of land in Rio Blanco County on Wednesday to get a first- hand look at an ambitious and proprietary oil-shale project that might one day reduce the country’s dependence on foreign oil.

Energy behemoth Shell has been researching a new technology to extract oil by heating shale rock on the site since 1982. But the Mahogany project grabbed limelight a couple of years ago as skyrocketing oil prices drove lawmakers and the industry to evaluate new and unconventional sources of oil, including oil shale. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Daily Telegraph: Database: Energy

• Royal Dutch Shell is among the companies that are in talks with Syria to explore for oil, as the country seeks to halt a 10-year decline in output, the nation’s oil minister said.

• AES, a US energy company with plants in the UK, will spend $325m (£172m) within five years on a venture that will cut greenhouse gas emissions and create credits for compliance and trading.

• Tullow Oil, an oil and gas explorer on three continents, said it would boost natural gas output this winter to take advantage of surging prices. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Daily Telegraph: Flamebait: I’m afraid Chavez has struck a nerve

By Keith Woolcock (Filed: 01/06/2006)

The truth, poet Wallace Stevens wrote, depends upon a walk around the lake. Lakes are thin on the ground in London but, over the past few weeks, as markets pitch and slide, I have, on several occasions, taken the Northern Line to Hampstead. Once there, I head to my favourite duck pond in the hope that truth might find me.

One thought keeps nagging me as I pick my way around the discarded beer cans and the odd syringe, which have a habit of intruding into paradise these days. It is an observation once made by the historian Niall Ferguson. He pointed out that markets are not that good at taking account of the really big shifts in world affairs. I think he might be on to something. If you did a straw poll among investors today I would guess that you’d find them pretty evenly split into two camps. There are those who think the market is sliding because global growth is poised to slow and, as a result, corporate profits will shrink. Then there are those who are scared witless by the prospect of inflation, or even stagflation. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

The Independent: Anger at oil chief’s $400m retirement package

Lee Raymond, the chief executive of Exxon Mobil, has bowed out from the oil giant with a $400m pay and retirement deal that has caused outrage among environmentalists. In his 12 years at the top of the company, Exxon has pumped an estimated six billion tons of carbon into the atmosphere and has led the opposition to action on climate change.
 
By Stephen Foley
Published: 01 June 2006

Investors and environmental campaigners condemned a $400m (£214m) retirement package for the boss of Exxon Mobil, the man known as the “Darth Vader of global warming” for his denial that carbon emissions cause climate change. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

The WALL STREET JOURNAL ONLINE: Oil News Roundup: June 1, 2006

The price of crude oil continued to gyrate Wednesday, skidding 74 cents to $71.29 on the New York Mercantile Exchange, as worries about geopolitical tensions and potential oil-supply disruptions eased a bit after the U.S. offered conditions for talks with Iran. Here is today’s news roundup on oil and energy.

* * *

UNREST AT EXXON MOBIL: Exxon Mobil, the world’s biggest oil company, became the latest company to taste shareholder outrage over executive pay. At the company’s annual meeting in Dallas — where protesters outside braved the heat in giant oil-drum costumes, the Dallas Morning News reports — shareholders withheld votes from board members in unusual numbers to register their disgust with the whopping pay package given former CEO Lee Raymond. For the first time in company history, investors also rejected a proposal recommended by the company. They also voted to require a majority vote to elect a new board member, rather than the plurality currently required. New CEO Rex Tillerson said he would take that nonbinding vote “under advisement” and said he had no regrets about his predecessor’s pay. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Business News Americas: Shell hoping for offshore gas E&P, Orinoco participation – Venezuela

(BNamericas.com) – Anglo-Dutch energy major Royal Dutch Shell (NYSE: RDS-B) still has “hopes” of taking part in either the Mariscal Sucre offshore gas E&P project in Venezuela or the new blocks to be offered off the country’s eastern coast as well as in a project to upgrade extra-heavy Orinoco crude, newspaper El Universal reported Shell Venezuela president Sean Rooney as saying.

Earlier this year Venezuela’s state oil firm PDVSA said up to seven new offshore blocks could be offered in eastern Venezuela for gas E&P this year. No schedule has been announced yet for the concession process. Shell has been busy transforming its operating agreement with PDVSA into a joint venture, Rooney said, “but having left that behind we can commence negotiations.” Last year Shell had contact with the government regarding Shell’s desire to apply a technology it developed in Canada to an Orinoco heavy-crude project. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.