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Posts on ‘June 13th, 2006’

Nigerian Tribune: Nigeria’s oil output will reach 3 million bpd if… – Daukoru

MARTIN AYANKOLA and Agency Reports, Lagos – 14.06.2006

Nigeria’s daily oil production will approach three million barrels per day if the oil fields shut in the wake of militant attacks on oil installations in the Niger Delta come on stream, the Minister of State for Petroleum and the Organisation of Petroleum Exporting Countries [OPEC] President, Dr. Edmund Daukoru, has disclosed.

The minister, who was speaking on Sunday in Kuala Lumpur, Malaysia, disclosed that Nigeria’s oil production currently stood at 2.4 million barrels per day. 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.

RosBusinessConsulting (Moscow): Rosneft to enlarge oil production share

RBC, 13.06.2006, St. Petersburg 19:22:49.Rosneft plans to expand its share in Russia’s total oil production from 17 to 23-25 percent within 4-5 years, the company’s President told the 10th International Economic Forum in St. Petersburg today. He noted that Rosneft’s oil output rose 7 percent in the first five months of the current year. This growth is higher than the industry average.

According to Bogdanchikov, the company also ranks third in Russia in terms of production efficiency (approximately 3m tonnes of oil per well). At the moment, all the conditions are in place to increase production efficiency and improve the recovery factor, he noted. 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 Times: Definitely no regrets: there is life beyond the High Court

May 16, 2006
By Frances Gibb

One year after he resigned, Sir Hugh Laddie gives an insider’s view of the joys and miseries of the Bench 
 
THERE WAS a furore when Sir Hugh Laddie announced that he was leaving the High Court Bench because he found it boring. A “small minority” of colleagues disapproved: one said that if Laddie returned to the Bar, he could not appear in his court. Nor did the Lord Chancellor acknowledge either his first letter intimating resignation or the formal confirmation itself. 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.

Dow Jones Newswires: Shell Brazil To Export 150M Ltrs Of Ethanol To US In ’06

RIO DE JANEIRO (Dow Jones)–The Brazilian unit of Royal Dutch Shell (RDSB.LN) in early June started to export ethanol from Brazil to the United States, a company press official said Tuesday.  

Until year-end, Shell plans to export 150 million liters of Brazilian ethanol to the U.S., the official said. 

Brazil is the world’s leading ethanol exporter, and No. 2 ethanol producer after the U.S. 

U.S. ethanol demand is rising due to the elimination of the gasoline additive MTBE, a known ground water contaminant, by the U.S. refining industry.   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.

ChronicleHerald (Halifax, Nova Scotia, Canada): Oilsands project restart delayed

CALGARY (CP) — Shell Canada Ltd. disclosed Monday that maintenance at the Athabasca oilsands project is taking longer than expected.

The scheduled eight-week turnaround is being extended because additional work is required, Shell said, and start-up now is expected to begin in late June with a return to full production by mid-July.

“Following initial cleaning and inspection of the equipment, a decision was taken to undertake additional maintenance and repair work,” Shell stated.

“Shell is working closely with customers to manage the reduced synthetic crude production due to the shutdown extension.” 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.

Houston Business Journal: Shell stations to distribute multilingual disaster preparedness pamphlets

Allison Wollam

The American Red Cross is teaming up with Shell Oil Co. and Motiva Enterprises LLC to make multilingual disaster preparedness pamphlets available to Gulf Coast area residents in Shell stations throughout Texas, Louisiana, Mississippi, Alabama, Georgia and Florida.

The pamphlets, titled “Are You Ready For Hurricane Season?” explain what to do before, during and after a storm, including how to create a family disaster plan and a disaster supply kit.

The free pamphlets are available in English, Spanish and Vietnamese. 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 Guardian: Oil price likely to fall, says Browne

· BP chief predicts drop to as little as $25 a barrel
· Fears of declining petrol supplies dismissed

Terry Macalister
Tuesday June 13, 2006

Lord Browne, BP’s chief executive, held out the prospect of a big drop in crude oil prices to $40 a barrel as he dismissed views that petroleum was running out very fast.
His optimism came despite a 1 cent rise in the price of Brent crude or July delivery to $70.49 a barrel in morning trading in London as traders continued to fret about tensions in the Middle East. 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.

Lloyds List: Loh takes Shell Marine to new highs

Six months in as the head of Shell Marine Products, Loh Wai Kiew is taking the oil major’s bunkers and lubricants business right into the centre of the industry’s biggest market, writes Martyn Wingrove
Jun 13, 2006

 
SHELL Marine Products is facing a radical shake-up this year thanks to its new chief executive and vice-president Loh Wai Kiew, who wants to drive the business into the centre of the booming Asian shipping markets.

The group’s marine fuels and lubricants division will be moving to Singapore by the end of this year in a bid to reposition management closer to their all-important Asian clients. 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 Guardian: Behind the spin, the oil giants are more dangerous than ever: The green rebranding of Shell and BP is a fraud. Far from switching to biofuels, it’s drilling and devastation as usual

GEORGE MONBIOT
Jun 13, 2006
 
For a company that claims to have moved “beyond petroleum”, BP has managed to spill an awful lot of it on to the tundra in Alaska. Last week, after the news was leaked to journalists, it admitted to investors that it is facing criminal charges for allowing 270,000 gallons of crude oil to seep across one of the world’s most sensitive habitats. The incident was so serious that some of its staff could be sent to prison.

Had this been Exxon, the epitome of sneering corporate brutality, the news would have surprised no one. But BP’s rebranding, like Shell’s, has been so effective that you could be forgiven for believing that it had become an environmental pressure group. These companies have used the vast profits from their petroleum business to create the impression that they are abandoning it. 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.

Financial Times: From the Vatican to Baghdad, the little guy is calling the shots

By Moses Naim
Published: June 13 2006 03:00 | Last updated: June 13 2006 03:00

Royal Dutch Shell is one of the world’s largest and most powerful companies. Bolivia is one of the planet’s poorest countries; its gross domestic product is a mere 3 per cent of Shell’s annual revenues. Recently, Shell chief executive Jeroen van der Veer noted, somewhat meekly, that his company was resigned to accepting Bolivia’s decision to break the contracts it had signed. He said it was no longer a good idea for oil companies to put up a legal fight against the nationalistic policies of countries such as Bolivia. Once upon a time, giant multinationals did not bend to the will of tiny governments. The behemoths of industry did not just stand by as their oil, gas or mining fields were seized under a national banner. They fought back and not just rhetorically.
 
In Iraq, a ragtag militia equipped with small arms and improvised explosive devices is denying the most powerful military in history – the US – control of the territory it swiftly conquered. This same pattern, in which “micropowers” are successfully contesting the dominion of traditional “megaplayers”, is also in evidence in a far more cerebral market: encyclopedias. The survival of the world’s oldest and most respected source of information, the Encyclopaedia Britannica, is threatened by strange newcomers. One of them, Wikipedia, though just five years old, is already 12 times larger than Britannica, which was first published in 1768. Wikipedia is free, exists only on the web, can be read in 229 languages and is expanded daily by unpaid volunteers. A recent study in Nature magazine found that, despite its far larger size, Wikipedia had 162 errors, while Britannica had 123. 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.

Reuters: Shell outlook now stable, was negative – Moody’s

Mon Jun 12, 2006 2:49pm ET
 
NEW YORK, June 12 (Reuters) – Moody’s Investors Service on Monday changed its outlook on Royal Dutch Shell Plc. (RDSa.L: Quote, Profile, Research) to stable from negative, citing the company’s progress in addressing governance issues regarding its oil booking practices.

Moody’s had maintained a negative outlook on the ratings since February 2005, when the company announced a second round of some 1.4 billion barrels of oil equivalent reserve de-bookings after an intensive internal and external review of its reserve base and booking practices, the ratings agency said in a statement. 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: Oil News Roundup: 13 June 2006

The WALL STREET JOURNAL ONLINE
June 13, 2006

Oil prices fell more than $1 to settle at $70.36 a barrel on the New York Mercantile Exchange as worries that Tropical Storm Alberto would disrupt Gulf oil production faded. Here is Monday’s roundup of oil and energy news.

* * *

ROSNEFT REPORTS: OAO Rosneft, Russia’s state-owned oil company, released details of its IPO, saying it would float shares in Moscow and London and raise about $10 billion. That’s half the amount originally expected, but high oil prices have curbed Rosneft’s need for cash. Rosneft also reported first-quarter results, saying its income had gained 10.8% from a year ago. 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: Exxon May Find Pipeline Self-Competing

Proposed Alaska Gas-Transmission Facility
May Affect Imperial’s Mackenzie Delta Project
By TAMSIN CARLISLE
June 13, 2006; Page A18

In its efforts to procure affordable steel and labor for multibillion-dollar Arctic natural-gas projects, Exxon Mobil Corp. may soon be competing with itself.

Canada’s Imperial Oil Ltd., in which Exxon Mobil owns a 69% stake, is leading a consortium of energy companies attempting to build an 840-mile pipeline from the Mackenzie Delta in Canada’s western Arctic to energy-hungry markets in the U.S. and Canada. But delays and rising costs have complicated the project, leading Imperial to consider building some portions of the pipeline abroad — a potentially tricky move politically as the company seeks help from Canada’s government to complete the 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.

THE WALL STREET JOURNAL: Japan, Russia Plan to Build Natural-Gas Pipeline

By MARI IWATA
June 13, 2006

TOKYO — Japan and Russia plan to start building an 850-kilometer gas pipeline in 2008 to transport natural gas from Sakhalin Island in Russia’s south to Aomori prefecture in the northern part of Japan, the president of Japan Pipeline Development Organization Inc., Hideo Ogawa, said.

Japan Pipeline will jointly develop the pipeline with Stroy Trans Gaz, a subsidiary of Russia’s natural-gas monopoly OAO Gazprom, Mr. Ogawa said, adding that several Japanese and foreign companies will also participate in the 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.

International Herald Tribune: Increased Asian oil drilling fails to slow demand

By Christian Schmollinger and Leony Aurora
Bloomberg News

KUALA LUMPUR Asia’s expanded oil drilling, spurred by record prices, has failed to increase supplies and ease the region’s growing reliance on the Middle East, Fereidun Fesharaki, chief executive officer at the oil consultancy Facts, said Monday at the Asia Oil & Gas Conference.
 
Fesharaki, who is presiding over the conference, said that Saudi Arabia, Iran and other Middle East producers will provide 70 percent of any additional oil demand over the next five years.
 
Asia’s annual oil demand may grow as much as 800,000 barrels a day, more than double Sweden’s consumption, he said.
 
“Higher prices have kept production flat” in Asia, Fesharaki said. “If prices were any lower, there would definitely be a decline” in output.
 
Asia is becoming more dependent on Africa, Russia and the Middle East for energy as investments fail to keep up with rising demand for gas, diesel and gasoline. Royal Dutch Shell, Petroliam Nasional and China Petroleum & Chemical are increasing shipments to Asia from fields as far away as Sudan and Angola.
 
Manouchehr Takin, an analyst with the Center for Global Energy Studies, said from London: “As a percentage of total world production, Asia’s contribution will be less and less over the next 10 to 15 years. Asia will become more and more of an importer, in spite of any growth in oil or gas production.”
 
Oil prices have more than tripled from their 2001 low and touched an all- time high of $75.35 a barrel on April 21 and April 24 in New York.
 
The boom triggered by higher prices could push exploration spending 23 percent higher this year in the Asia-Pacific region, Citigroup, the world’s largest financial services company, said in a report last week. Worldwide spending could total $163 billion this year, Citigroup said.
 
Increased spending in Asia by explorers such as Shell, Exxon Mobil and Chevron reflect soaring costs as they chase oil in deeper waters offshore and prices of steel and raw materials rise.
 
“The spending will go up, but I don’t think they’re drilling more wells,” David Morrison, chairman of Wood Mackenzie, an oil consultancy, said in an interview in Kuala Lumpur on Sunday. It’s because of “the cost inflation in the service sector.”
 
Costs for the Shell-led Sakhalin II oil and gas project in Russia doubled to $20 billion because of higher contractor rates and prices for raw materials.
 
The company, based in the Hague, said last month that it may not meet a target of replacing all the oil and gas it pumps because rising costs were forcing it to hold back on some projects.
 
“Costs to find, develop and produce oil and gas has increased by an average of 50 percent over the last two years,” said Hassan Marican, chief executive of Petroliam Nasional, Malaysia’s state- run oil company. “The increase in capital expenditure and shortage in capacity in contracting services may result in the deferment and delays of some projects.”
 
Asia will be the world’s fastest-growing oil market this year, followed by the Middle East, the former Soviet republics and Africa, according to data from the International Energy Agency. Asia’s imports from the Middle East may more than double to 28 million barrels a day by 2030, from 12 million currently, the IEA 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.