July 14th, 2006:

From noticias.info (press release), Spain 
 
Sinn Féin TD Martin Ferris said that it is not surprising that the mediation process between the Rossport 5 and Shell has not been successful as the only way to resolve this issue is for the Irish government to tell the Corrib Gas consortium to move their pipeline and refinery offshore.

Deputy Ferris said, “It will be no surprise to most people that mediation talks have broken down between the Rossport 5 and Shell. Shell’s unwillingness to budge and their complete disregard for the health and safety concerns of the local people have brought things to this situation. The only way that this issue can be resolved is if the Irish government tell the Corrib Gas consortium loudly and clearly to shift their pipeline and refinery offshore. read more

The Times July 15, 2006
Extracts From City Diary
Prophetic Times
By Martin Waller
 
A PACKAGE arrives on my desk. It is from a regular correspondent and contains a real find, a copy of The Times for May 2, 1966, just before this paper took the advertisements off the front page.

There are ads inside for Gamages, a largely forgotten retailer, for West End plays by William Douglas Home — “the perfect comedy for those who simply want to be entertained”, Daily Mail — and, strangely, for Chase Manhattan Bank, apparently offering a way around exchange controls. 
 
I turn to the City Editor’s comment. Hill, Samuel, the merchant bank, has opened for business in New York and has over the past six months acted for US flotations worth a staggering, ooh, $55 million. But it is the headline “Long Wait For Gas” that catches my eye. read more

From The San Francisco Chronicle
SACRAMENTO
Tom Chorneau, Chronicle Sacramento Bureau
Friday, July 14, 2006

Big Oil lobbyists stall bills in Legislature that industry opposes

(07-14) 04:00 PDT Sacramento — Big Oil remains a potent political force inside the state Legislature despite growing public unrest over soaring gas prices and the industry’s record profits.

With time running out on the current two-year session, oil company lobbyists have helped tie up or kill almost a dozen bills considered hostile to the industry, including a plan to tax windfall profits and a proposal to regulate refineries as public utilities. read more

From MercoPress

Oil prices hit a new high closing price of 76.70 US dollars a barrel on Thursday as international tension heightened in several fronts with analysts not ruling out 80 US dollars a barrel in the coming days.

The escalating conflict in Middle East; Iran’s nuclear row heading back to the UN Security Council; North Korea walking out of talks with South Korea; renewed worries over supply from major exporter Nigeria and crude inventories falling more than expected in the US have contributed to uncertainty and soaring prices. read more

“In terms of profitability among the 500 firms, Exxon Mobil was at the top, followed by Royal Dutch Shell (25.3 billion dollars)”

Huge profits has propelled Exxon Mobil Corp. to the top of the 2006 Fortune Global 500 list, and pushed aside Wal-Mart Stores Inc. to the No. 2 spot on the magazine’s annual ranking of global largest 500 companies.

The list, which will published in Fortune’s July 24 issue, pegs Exxon Mobil’s 2005 revenue at about 340 billion U.S. dollars, with profits of 36 billion. Wal-Mart made a profit of about 11 billion dollars on revenue of 316 billion. read more

Forbes.com: Energy Tsar

From Forbes Magazine
On The Cover/Top Stories 
Michael Freedman and Heidi Brown, 07.24.06  
 
Vladimir Putin is using publicly traded Gazprom, and its monster reserves, to remake Russia. Should you own a piece of it?

On a recent morning Alexei Miller, head of Russia’s OAO Gazprom, the world’s largest public energy company by reserves, strode toward a lectern in a standing-room-only convention hall in Amsterdam. There to deliver a keynote address to leaders of the world’s foremost oil and gas companies and investors, Miller locked eyes with the crowd and said icily, in English, “The speech will be in Russian.” At that, scores of executives rushed to the exits, tripping over one another to get headphones for a translation. Miller stood alone at the lectern, scowling into the spotlight. read more

Drilling permits increase with soaring fuel prices
Sarah Ryley/From The Detroit News

TRAVERSE CITY — High oil and gas prices are driving up interest in drilling in some of the state’s most pristine lands, particularly four counties in northern Michigan that sit over a natural gas reserve.

Thousands of sites in that area are being looked at for drilling operations over the next few years, some of which have gotten the attention of environmentalists concerned about preserving the land in its natural state. read more

THE WALL STREET JOURNAL ONLINE
July 13, 2006 7:42 p.m.

Crude-oil futures rocketed to nearly $77 a barrel, an all-time nominal high, on the New York Mercantile Exchange after violence in the Middle East intensified, raising concerns that oil supplies in the region could be disrupted. In electronic trading after hours, oil prices rose to more than $78 a barrel. The surge in oil prices raised concerns about economic growth and hurt U.S. stock prices, triggering the second straight day of triple-digit losses for the Dow Jones Industrial Average. Here’s Thursday’s roundup of oil and energy news. read more

Comment received from kingjerryalexander on Fri 14 Jul 2006 06:06 AM BST (We will publish as news reports any informative comments)

Effect of MTBE

OK. So now people are understanding the importance of MTBE. When the price hike goes beyond control due to this need for ethanol to be exported ,they will surely understand the importance of MTBE. And coming to the matter of MTBE LITIGATION , the act of suing up the oil companies would ultimately harm the consumers itself. Sooner or later, if not for MTBE , a better substitute than ethanol has to be found, coz its supply, as everyone knows is low. So, if the oil companies are made liable for a large claim , then who will fund for the research for a better oxygenate? read more

By: Lorna Siggins, Marine Correspondent, Irish Times
Published: Jul 14, 2006

The Government’s independent mediator on the Corrib gas pipeline, Peter Cassells, is preparing a report within the next fortnight in a final effort to broker a compromise between the north Mayo community and Shell E&P Ireland.

However, Mr Cassells said yesterday “no agreement is likely in the foreseeable future” between the two parties, based on seven months of “intensive discussions” and “detailed consultations with the local community”. read more

Traders are worried that supplies of crude could be disrupted should present world tensions escalate, writes Martyn Wingrove, Lloyds List
Published: Jul 14, 2006

RISING geopolitical tensions, pipeline explosions and falling stocks in the US have pushed oil prices to new highs of more than $75 a barrel.

With Israel blockading Lebanon, Iran refusing to halt its nuclear programme and Korean missile talks breaking down, traders fear tensions could escalate and disrupt crude supplies from the Middle East. read more

From The Irish Independent
Published: Jul 14, 2006

AN INDEPENDENT mediator has admitted that months of negotiations about the controversial Corrib Gas pipeline have failed to produce any agreement.

Peter Cassells spent seven months trying to work out a solution between Shell Ireland and the Rossport Five, who spent 94 days in jail for their opposition to the pipeline.

Mr Cassells said that he was calling off the talks after concluding that his shuttle diplomacy between Shell’s Headquarters in Dublin and the protesters’ homes in Mayo was not going to work. read more

From AFX Europe (Focus): Australia’s Woodside Petroleum’s Libyan oil exploration program gains momentum
Published: Jul 14, 2006

SYDNEY (XFN-ASIA) – Woodside Petroleum Ltd said its oil exploration program in Libya is gaining momentum following the start of drilling at its first well in March.

The company, 34 pct owned by the Royal Dutch Shell group, has the third largest exploration acreage position in the oil and gas rich north African nation with nearly 60,000 sq km.

Woodside exploration and new ventures director Agu Kantsler said, in an opening briefing lodged with the Australian Stock Exchange, in the current campaign Woodside plans to drill 17 exploration wells over the next 18 months. read more

By: Azlan Abu Bakar, Business Times (Malaysia)
Published: Jul 14, 2006

OIL company Shell Malaysia Trading Sdn Bhd expects the introduction of its latest retail innovation, the new Shell Super, would help maintain the company’s position in the market.

Shell Malaysia Trading and Shell Timur Sdn Bhd managing director Mohzani Abdul Wahab said the new fuel economy formula, which replaces the “Better Mileage” formula is designed to promote engine cleanliness and friction reduction for improved engine efficiency. read more

From The New York Times
By REUTERS

SYDNEY (Reuters) – Oil prices surged to record highs above $78 on Friday as global geopolitical storm clouds gathered, with supply disruption in OPEC exporter Nigeria and tensions across the Middle East driving crude into unchartered territory.

U.S. crude for August (CLQ6) surged $1.40 to $78.10 a barrel by 0147 GMT, after hitting a record $78.40 as gains came on top of Thursday’s $1.75 rally. London Brent (LCOc1) was $1.01 up at $77.70, also touching a record after Thursday’s $2.30 jump. read more

From El Universal
 
Venezuelan Foreign Affairs minister Alí Rodríguez Araque Wednesday met with Royal Dutch Shell CEO Jeroen van der Veer to study investment and cooperation possibilities in technology for the Anglo-Dutch firm in Venezuela, said the Foreign Affairs Ministry in a communiqué.

Following their meeting, in Rodríguez’ office, Shell CEO stressed his corporation is certain that organization of joint ventures to replace operational agreements is the best way to operate the oil industry in Venezuela. In this connection, he hoped new ideas may emerge in the future that are useful for Shell plans in Venezuela. read more

From The Jamaica Observer
Friday, July 14, 2006

THE Jamaica Gasoline Retailers Association (JGRA) yesterday issued an ultimatum to Shell Company to review its contract with government for the delivery of fuel through the petroleum dealers or face a withdrawal of the service in 30 days.

President of the JGRA Trevor Heaven said that the dealers would cease the supply of fuel to government vehicles in 30 days, except to those used for essential services, unless there is a review of the margin agreed to in the contract between Shell and the government. read more

From ndtvprofit.com
By Arijit Barman
(New Delhi)

Shell wants to build a port at its LNG terminal in Hazira by 2010. Work has already started and the multinational has asked the Gujarat government for more land.

Spread over 300 hectares of mostly reclaimed land, the terminal in Hazira was idle for a long time. But activity is scaling up and so are Shell’s plans.

“Hazira project based on port concessions from the government. At the moment Hazira port is used only for LNG cargo. We are trying very hard to make it suitable to other kinds of cargos. The investments will be substantial,” said Marc De Hartog, Director-Gas & Power, Shell India. read more

From The Malasia Star: Shell aims to open 20 more outlets this year

KUALA LUMPUR: Shell Malaysia Trading Sdn Bhd is targeting to open 20 new outlets this year, bringing the total number of its petrol stations to almost 850.

Currently, it has 830 outlets in operation but managing director Mohzani Abdul Wahab said a few would be closed this year, especially certain smaller outlets with leases expiring.

“We have a 36% market share in Malaysia, and we hope to sustain our turnover growth in line with the gross domestic product, at 5.5% this year,” he told reporters at the launch of Shell’s new Fuel Economy Formula, an energy-efficient petrol. read more

From The Irish Independent

Shell Oil is seeking face-to-face talks with the Rossport 5, after government backed attempts to broker a deal failed.

It emerged today that mediator Peter Cassells has been unable to find any agreement between the two sides over the disputed Corrib Gas pipeline.

Shell’s Deputy Managing Director Terry Nolan, said alternative pipeline routes could be discussed:

“We’ve made it clear that we’ve discuss all the options in face to face dialogue with the individuals, and for example the alternative pipeline route is something which we would be happy to consider that was made clear to the mediators,” he said. read more