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Posts on ‘March 3rd, 2007’

Globe and Mail (Canada): Russia, pumped

SHAWN MCCARTHY
From Saturday’s Globe and Mail
02/03/07

MOSCOW — This city of 12 million has all the hallmarks of an oil-fired boomtown – traffic snarled at all hours of the day along roadways not built for three million cars, ubiquitous construction cranes hovering overhead, rampant consumerism in the luxury shops of the elite and the more prosaic housewares and electronic stores of the growing middle class.

Gone from the underpasses and Red Square itself are the legions of pensioners who just five years ago were begging and selling off family treasures to put food on the table. Flush with petro-rubles, the government of President Vladimir Putin cannot only pay their state pensions but has increased them. 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.

TehranTimes.com Oil companies, seeking reserves, see Iran as long-term venture

LONDON (Dow Jones) — Oil majors are laying the foundations for potentially lucrative energy deals in Iran.

In a signal to Washington that they won’t bow to U.S. pressure to isolate the Islamic Republic, many energy giants desperate to boost their flagging energy reserves are eyeing multibillion dollar Iranian projects that could give them access to some of the world’s largest oil and gas fields.

“Iran is one of the few countries which is today inviting companies to come and invest in its oil sector,” says Bijan Khajepur, chairman and strategic consultant at Tehran-based Atieh Bahar Consulting. 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 York Times: Oil Company Revives Suit on Avoidance of Royalties

March 3, 2007
By EDMUND L. ANDREWS

WASHINGTON, March 2 — One of the nation’s biggest oil producers in the Gulf of Mexico is pressing ahead with a lawsuit that could, if successful, allow energy companies to avoid as much as $60 billion in royalties to the government over the next two decades.

Anadarko Petroleum, based in Houston, is suing the Interior Department to overturn regulations that force companies that drill in publicly owned waters to pay full royalties on oil and gas they produce during times of high energy prices. 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

Last Updated: 12:43am GMT 03/03/2007

EXTRACT FROM: A round-up of headlines from across the financial sectors, provided by Bloomberg News.

ENERGY

• Royal Dutch Shell, offers a better investment opportunity than BP through 2020 because Shell has more “unconventional” projects, Sanford C Bernstein analysts said.

• BP said it may buy Chevron’s 31pc stake in the Nerefco refinery in Rotterdam.

• BG and its partners may spend about $1bn in boosting oil and gas output from fields off western India to feed growing demand. 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: EU power station carbon to be buried

By Charles Clover, Environment Editor
Last Updated: 2:02am GMT 03/03/2007

Plans to pump carbon dioxide emissions from all Europe’s coal fired power stations into underground chambers by 2020 will be discussed by EU leaders at a summit in Brussels next week.

Tony Blair and the other leaders will discuss the plan as a way of achieving Europe’s self-imposed target of reducing greenhouse gas emissions by 20 per cent by that date.

As a first step, they are expected to approve a programme of building 12 demonstration projects for carbon capture and storage technology at coal and gas fired power stations by 2015, one of which is expected to be in Britain. 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.

Financial Times: Ted Scott F&C Stewardship Growth Fund

EXTRACT: What was your worst investment decision?

I held on to BP and Shell for too long last year. Like a lot of people I thought that the share prices of oil companies would reflect the high oil prices and would result in an upgrade of earnings estimates and cash to shareholders, but that hasn’t really happened.

Both companies have had well-publicised problems and both underperformed. Other stocks in the sector have done quite well in the same period but I underestimated how difficult it is for large oil companies to replace their reserves. High oil prices don’t mean they can necessarily find more oil and put it into the market. 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.

Reuters: UPDATE 1-RESEARCH ALERT-Bernstein cuts BP, Shell price targets

(Reuters) – Bernstein cut its price targets on BP Plc (BP.L: Quote, Profile , Research) and Royal Dutch Shell Plc (RDSa.L: Quote, Profile , Research) on lower production forecasts from the oil giants, and said it saw greater growth potential from Shell’s portfolio.

Shell has a stronger relative cashflow, and this, along with its more defensive business mix, would make investors favour it at this point, the brokerage said in a research note.

The Anglo-Dutch company’s greater exposure to unconventional hydrocarbons such as liquefied natural gas, gas-to-liquids, oil sands and tight gas, should deliver superior growth to BP’s after 2010, Bernstein’s note said. 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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