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Posts on ‘February 17th, 2007’

CALGARY HERALD: Tide has turned’ in oilpatch sector

Rising costs will take toll, analysts say
BY LISA SCHMIDT

Even as they raked in record profits, Canadian oil and gas companies saw a weaker finish to 2006.

THE ARTICLE

After swelling for most of the year, earnings in the fourth quarter have dropped for all the largest energy firms amid retreating prices for oil and gas, and rising operating costs.

Analysts are keeping an eye on whether prices hold and costs start to ease after a frenzy of oilpatch activity drove up prices for labour and equipment.

“The tide has turned,” said John de la Mare, an analyst with Peters & Co. in Calgary. 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.

Petroleum News: Former federal judge to investigate maintenance allegations against BP

Vol. 12, No. 7  Week of February 18, 2007

BP PLC is looking into allegations by a longtime oil industry watchdog, including a claim that a company employee substituted water for more expensive chemical agents used to prevent corrosion in its Prudhoe Bay pipelines.

The company ombudsman, retired federal judge Stanley Sporkin, said Feb. 7 he has assembled a team of engineers and attorneys to investigate the allegations raised against BP by longtime industry critic Chuck Hamel.

“We’re going to do a very solid investigation, I can assure you that,” Sporkin said from his office in Washington, D.C. “I don’t engage in witch hunts. One of my most important priorities is to be absolutely fair to everyone.” 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.

Petroleum News: Shell Canada in whirlwind

Vol. 12, No. 7  Week of February 18, 2007
By Gary Park

Haggling persists over parent takeover bid; sands partner explores options

Normally a low-key operator in the Canadian oil patch, Shell Canada finds itself being tugged in all directions these days.

Caught in an increasingly turbulent takeover bid by its parent Royal Dutch Shell, the Canadian unit is now faced with confirmation that one of its oil sands partners, Western Oil Sands, is on the prowl for a buyer, merger deal or acquisition.

There had already been speculation that if Royal Dutch acquired the 22 percent of Shell Canada it doesn’t already own it would immediately turn its attention to Western. 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.

Irish Independent: Gardai called as gas protesters break into Shell terminal site

Published: Feb 17, 2007

A GROUP of up to 100 Shell to Sea activists caused a major security alert after they broke into the site of the controversial Corrib gas terminal yesterday.

Gardai eventually escorted the group off the Corrib Oil site after a peaceful stand-off.

The protesters were jubilant after they successfully breached the perimeter fence of the Co Mayo refinery. However, the company was left seething at the incursion.

Shell spokesman John Egan branded the protesters “trespassers”, and accused them of vandalising tools and threatening workers. 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.

Irish Times: Russia’s resurgence

EXTRACT: This question of resources has been central to the recent rows between Russia and its neighbours, which could leave western Europe literally shivering if the pipelines are turned off for too long. Firms such as Shell have also seen the government use environmental controls selectively to pressurise them to give up dominant control of energy projects, such as those on Sakhalin island off the Pacific coast.

THE ARTICLE

Published: Feb 17, 2007

As Vladimir Putin’s presidency draws to a close, Russians feel more confident, prosperous and secure, despite weatern unease over the country’s direction, writes Conor Sweeney , in Moscow 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.

Irish Times: Shell to Sea says it did ‘not sanction’ site break-in

Published: Feb 17, 2007

The Shell to Sea campaign in north Mayo has dissociated itself from a security breach involving over 100 protesters at the Corrib gas terminal site, write Lorna Siggins and Tom Shiel in Bellanaboy, Co Mayo

The incursion, which lasted over two hours yesterday, has been condemned by Shell E&P Ireland, while Mayo TD, Dr Jerry Cowley (Ind), said it was “very disappointing” in the light of efforts to have a peaceful protest.

Shell to Sea spokesman in north Mayo, Dr Mark Garavan, said the actions by a “number of individuals” had not been sanctioned by the campaign, which had sought Garda co-operation for a peaceful “solidarity day”. 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 Mirror: 100 invade oil terminal

TOM GILLESPIE
Published: Feb 17, 2007

MORE than 100 protesters breached security and entered the controversial Corrib gas terminal yesterday.

Shell To Sea activists cheered as demonstrators entered the compound.

Oil bosses were outraged and building work on the Co Mayo site was temporarily halted amid health and safety fears.

Garda reinforcements were sent shortly after 10am. An earlier protest by about 300 activists from all over the county passed off peacefully.

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.

Financial Times: Directors’ deals

By Michael Tindaledirectorsdeals.com
Published: February 17 2007 02:00 | Last updated: February 17 2007 02:00

Royal Dutch Shell directors remain active with shares this year so far trading sideways. Wim Kok and chief executive Jeroen Van der Veer invested £78,000 on Wednesday. This was the first discretionary by either man for 18 months.

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.

Daily Telegraph: BP fights to keep toehold in Siberia

By Roland Gribben

BP is attempting to hammer out a compromise with Gazprom to maintain a minority stake in a Russian gasfield regarded as a huge prize by the Russian state-owned business and an important source of future income by the British giant.

Negotiations are understood to be centring on the TNK-BP Anglo-Russian joint venture, with a 62pc stake in the project, meeting Gazprom’s demand to cede control while retaining a stake of around 25pc.

Russian interests already account for a majority stake in the strategically, as well as commercially, important Kovykta gas field, part of the massive Siberian gas province, but Gazprom has made it clear that it wants to be in the driving seat. 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.

Daily Telegraph: Database: ENERGY: Saturday 17 February 2007

• Centrica, which owns and operates Rough, the UK’s largest natural-gas storage site, said the store contains more gas than it did a year ago because a warmer-than-average winter has reduced the need for stored fuel.

• British Gas, the residential unit of Centrica, cut gas and power rates for customers who pay online one day after Powergen, its biggest rival, announced lower charges.

• Sulzer AG, the world’s second-biggest pump maker, may agree to buy a unit of competitor Weir Group for £48m to broaden its range of pumps for the oil and gas industry. 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.

Daily Telegraph: BP’s new boss will need to keep the bear happy

Business comment
By Damian Reece, City Editor

Hopefully Tony Hayward is brushing up his Russian as he prepares to move into the chief executive’s eyrie at BP’s St James’s Square headquarters.

Russia, President Putin, the Kremlin and Gazprom are looming large on the long list of crucial and sensitive issues facing BP’s leader-elect.

Huge Siberian gas reserves represent an important part of his inheritance. His challenge is ensuring they produce a strong revenue stream. The price for such an achievement is, as yet, unknown. 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 Times: Energy winners are tough to call

Saturday February 17, 2007

Graham Searjeant, Personal Investor

Energy is the most confusing sector on the stock market. Oil prices are still fluctuating wildly. Gas prices spiked last year and now Centrica’s British Gas is cutting prices by 17 per cent to stem the loss of customers. It is benefiting from new supplies from Norway. As pipeline networks spread, however, even UK prices will depend on Russia, just as the price of North Sea oil depends on Saudi Arabia.

Oil shares, top dogs in the previous two years, fell away last year. BP, for years the one to follow, started panting like an exhausted hare while Royal Dutch Shell, having updated its financial structure, is edging back to its accustomed role as the reliable tortoise. 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.

New West Network: Ethics Story Thickens Over Abramoff-Interior Relationships (*Shell General Counsel Gale Norton implicated in corrupton)

In yet another twist in the murky relationship between convicted Washington D.C. lobbyist Jack Abramoff and the U.S. Interior Department, it is now being reported that alleged ethical violations may extend into the U.S. Justice Department – the very cabinet branch charged with preventing and prosecuting corruption in government.

In a story in Thursday’s Washington Post, another Administration political appointee, with romantic ties to former deputy Interior Secretary J. Steven Griles, has also resigned amid new revelations. 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.

Indymedia: Shell to Sea Solidarity Action in Scotland

Shell to Sea Campaign

Activists in Edinburgh shut down eight shell petrol stations around the city centre as a soldarity action for the Shell to Sea campaign in Rossport.

Between 7am and 8am this morning (16th February 2007) while the city was still in darkness, a number of activists shut down eight different Shell petrol stations in and surrounding the city centre of Edinburgh. This action was a solidarity action for the Shell to Sea campaign in Rossport, County Mayo and also to target Shell for being a major contributor to global warming and climate change. The action was purposely planned to coincide with the action taking place at the Ballinaboy refinery site on the same morning. 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: Crude-Oil Prices Near $60 On Concerns About Nigeria

By MASOOD FARIVAR
February 17, 2007; Page B4

Oil futures rallied 2.4% and climbed above $59 after the government warned about more militant attacks in Nigeria and the Organization of Petroleum Exporting Countries’ secretary-general said producers were showing compliance with the group’s new oil-production target.

The rally followed a volatile week in oil markets and came as traders closed bets on lower prices ahead of the long weekend. Floor trading on the New York Mercantile Exchange is closed Monday for Presidents Day, but electronic trading on the Chicago Mercantile Exchange’s Globex platform will be available. 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.
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