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Posts on ‘April 27th, 2007’

Forbes: Slimmer Chevron Beats The Street

Joshua Lipton, 04.27.07, 4:10 PM ET
 
Breaking up might be hard to do, as the song goes. But it can also boost profits in the short run and allow a company to concentrate on its core business, longer term. Both factors came into play for Chevron in the first quarter.

For the quarter ended March 31, the company told investors that it earned $4.7 billion, or $2.18 per share, up 17.5% from $4.0 billion, or $1.80 per share, for the similar period a year ago.

Revenue for the oil company actually dropped 12%, to $48.2 billion. 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.

Geelong Advertiser: Labor’s pledge on Shell water cash

Daniel Breen
28 Apr 07

LABOR has committed $20 million to Geelong’s water recycling project as the lead-up to this year’s Federal election intensifies.

The Opposition put its nose in front in the water debate during its national conference in Sydney yesterday.

Opposition Leader Kevin Rudd applied the blowtorch to the Federal Government by promising to fund the final third of the $64 million project’s cost if he won office.

Shell and the State Government have already committed funding for the water recycling project in Geelong’s north. 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.

Dublin Evening Echo.ie: Shell Ireland criticises Shell To Sea’s blockade tactics

27/04/2007 – 7:50:05 PM

Shell Ireland is criticising what it describes as an attempted blockade of its offices in Dublin earlier.

Protesters attached to the Shell to Sea campaign, who are opposed to the Corrib gas terminal and pipeline, allegedly prevented staff from entering and leaving the headquarters this morning.

Gardaí were called to remove them.

Shell E&P says its staff were subjected to physical and verbal abuse and says it deplores the tactics.

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.

Oilweek: Chevron off to another fast start as Q1 profit surges 18 per cent (Chevron)

Apr 27, 2007 1:11:00 PM MST
 
SAN RAMON, Calif. (AP) _ Coming off three straight years of record profits, Chevron Corp. on Friday reported its earnings surged yet again to start 2007 as the oil company cashed out of a Netherlands venture and cashed in on lucrative refining margins that have contributed to high gasoline prices.

The 18 per cent increase in Chevron‘s first-quarter profit delivered another reminder of the oil industry‘s moneymaking prowess while motorists dig deeper into their pocketbooks to fuel their cars. The economic disparity has renewed calls for a windfall tax on the industry to help raise money for alternative energy. 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.

resourceinvestor.com: Norway’s Statoil Grabs North American Oil Sands

By Dina O’Meara
27 Apr 2007 at 04:11 PM GMT-04:00

CALGARY (CP) — Norway’s state-owned oil company is spending C$2.2 billion to acquire major oil sands leases in Northern Alberta, giving the company a foothold in one of the world’s hottest energy regions.

Statoil ASA [NYSE:STO] said early Friday it is buying North American Oil Sands Corp., a private Calgary company with oil sands prospects in the Athabasca region around Fort McMurray for C$20 a share, a deal worth C$2.2 billion.
 
The transaction continues a trend of global expansion into the oil sands region, which contain huge new sources of oil but can be extracted at higher costs than conventional production. 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-Picayune: United Way hits fundraising goal

Friday, April 27, 2007From staff reports

A grant of $2 million from the United Way of America has helped the local United Way chapter exceed its $20 million fundraising goal this year.

In all the agency raised $20.1 million, with $16 million from local donors, and $4 million from national grants, including the donation from the United Way of America.

This year’s local contributions amounted to a 40 percent increase over the 2005-06 campaign, agency officials said. The campaign was boosted by two local corporations, Entergy Corp. and Shell Oil, which each gave at the $1 million level through employee pledges and company matching.
 
The United Way supports 74 partner agencies and 106 health and human services programs in a six-parish area. 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.

San Jose Mercury News: Wind-power promise pulls European firms

Wind Farm

A wind turbine looms behind a farm east of Pipestone, Minn., in this May 24, 2006, file photo. New worries about the environment, technology advances and tax breaks extensions are empowering European wind energy companies to try their luck in the United States. The U.S. has led the world in installing new wind turbines for the past two years, but it still ranks behind Germany and Spain in wind power production. (AP Photo/Jim Mone, file) ( JIM MONE )

NEW INVESTORS JUMP INTO RENEWABLE ENERGY SURGE IN U.S. 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.

Bloomberg: Exxon 1st-Quarter Profit Rises 10% on Refining Gains (Update9)

By Joe Carroll

April 26 (Bloomberg) — Exxon Mobil Corp., the world’s biggest oil company, said earnings climbed 10 percent to a first-quarter record after rising gasoline and diesel prices increased refining profit.

Net income rose to $9.28 billion, or $1.62 a share, from $8.4 billion, or $1.37, a year earlier, the Irving, Texas-based company said today in a statement. Per-share profit was 8 cents higher than the average of seven analyst estimates compiled by Bloomberg. Revenue fell 2 percent to $87.2 billion. 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 Mayo Advertiser: Goldman Prize celebrations continue for Willie Corduff

The Mayo Advertiser

(Willie Corduff, winner of the 2007 Goldman Environmental Prize, with his wife Mary, following his release from prison in September 2005. Mr Corduff spent 94 days with the rest of the Rossport Five on foot of their opposition to the route of the high pressure pipeline serving the proposed Corrib gas terminal. Photo: William Hederman.)

Friday 27/04/2007
by Fiona McGarry

Rossport man Willie Corduff is still attending a series of engagements in the US today (Friday), after being named one of the winners of this year’s prestigious Goldman Environmental Prize. 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 Mail (UK): Shell’s secret cash deal on Sakhalin 2

Sam Fleming,
27 April 2007

Royal Dutch Shell’s defeat at the hands of Gazprom is looking ever more comprehensive.

Earlier this month the Anglo-Dutch oil giant announced it had formally signed over a 50% stake in Sakhalin 2 – the world’s biggest oil and gas export project – to the Kremlin controlled giant.

Now it has emerged that it made additional financial concessions to the Russian state that weren’t disclosed at the time.

The company admitted that from next year the project in the north Pacific will have to pay hundreds of millions of pounds to the Russian government, in a thinly-disguised tax. 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.

Houston Chronicle: Safety plan for refineries brings forth only timidity

April 24, 2007, 11:09PM
By LOREN STEFFY
Copyright 2007 Houston Chronicle

Sometimes, finding the right words to write is difficult. Inspiration may come with a change of scenery.

In my case, a simple trip to a nearby Starbucks with my laptop often is all I need to get going.

I mention this as a tip to those at the American Petroleum Institute who seem to have writer’s block when it comes to drafting a meaningful policy about the location of temporary trailers in refineries.

Perhaps they should go to the section of the BP refinery in Texas City where 15 people, most of them working in such a trailer, were killed when a nearby unit that was being restarted exploded. 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.

Bloomberg: Crude Oil Rises With Gasoline on U.S., European Refining Risks

By Christian Schmollinger

April 27 (Bloomberg) — Crude oil rose in New York after a refinery fire and the threat of a production strike in Europe pushed gasoline futures higher for an eighth day.

Gasoline reached an eight-month high of $2.32 a gallon yesterday after a fire at Marathon Oil Corp.’s Garryville, Louisiana, unit and Belgian workers voted to strike at four refineries in Antwerp next month. U.S. gasoline stockpiles fell for an 11th week after the processing utilization rate dropped to 87.8 percent, the Energy Department said April 25. 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.

Bangkok Post (Thailand): Shell revamps local stations

Apr 27, 2007

Shell Companies of Thailand has budgeted 500 million baht to renovate petrol stations and improve efficiency this year, according to chairman Tiraphot Vajrabhaya.

Shell has 570 petrol stations, of which 10 to 20 are targeted for closure.

“Thailand is one of the most challenging markets. … Over 10,000 pumps nationwide are much higher than demand,” he said, adding that Shell had seen narrow profit margins in Thailand for two consecutive years.

Shell targets sales this year at 2.8 billion litres, an increase of 6-7% from last. However, the company aims to increase its market share to 18% from the current 16% by 2008. Its operational improvement programme could increase sales volumes by 20%, he 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.

Irish Times: ‘Intense pressure’ on EPA to issue licence

Aine Ryan
Apr 27, 2007

Ireland’s “close political-corporate climate” will put “intense pressure” on the Environmental Protection Agency to issue an integrated pollution prevention licence, according to BrId McGarry, a landowner in ongoing High Court proceedings against Shell E&P Ireland.

“It is clear the Environmental Protection Agency, like An Bord Pleanala, is also subject to intense pressure to assist developments of this nature,” said Ms McGarry in her submission on the eighth day of the agency’s oral hearing into the issuing of a licence. She was referring to the planning board’s overturning of its inspector’s advice, which stated the site was unsuitable. 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: Garda security for Corrib costs 5.4m

Lorna Siggins, Marine Correspondent
Published: Apr 27, 2007

Garda security for the Corrib gas project in north Mayo has cost 5.4 million for just over six months, according to Minister for Justice Michael McDowell.

The bill from October 3rd, 2006 to April 17th this year includes Garda salaries, and breaks down as more than 800,000 a month.

The figures were released by the Minister yesterday in a written Dail reply to Mayo TD Jerry Cowley (Ind).

In his reply, Mr McDowell said that it was not Garda policy and would “not be in the public interest” to disclose detailed information on numbers of gardaI deployed in the Erris area. 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: Rossport Five ‘should get payout from Shell’

Published: Apr 27, 2007

A PROGRESSIVE Democrat general election candidate has called on Shell to pay compensation to the Rossport Five.

Ballina-based Cllr Tommy Cooke broke his party’s silence on the controversy by saying Shell should also make a full public apology to the men, who spent 94 days in jail for their opposition to the routing of the Corrib Gas pipeline.

“In my opinion, it was a disgrace that they should end up in prison for what we’d all have done. They defended their rights and at this stage when everyone agrees, even Shell, that what was done wasn’t right, there should be an apology and compensation.” 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.

Times Online: Comment: Pay up

Steve Hawkes

The production sharing agreement for Sakhalin II in 1994 was the first one signed by the Russian Government.

The agreement that will see Shell pay the Kremlin an annual dividend to maintain its already diluted stake in the field shows how far the balance of power has shifted since.

Faced with pressure to find new oil and gas reserves from a smaller number of prospects, Western majors are having to go down on their knees in Russia and pray for the best.

While the “priority dividend” may be embarrassing for a group of Shell’s heritage, it will point to BP’s role in the recent Yukos auction to show that no other company is being treated differently. 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 Denver Business Journal: Comments accepted on Shell’s Western Slope plan

State regulators are accepting public comment through May 16 on Shell Frontier Oil and Gas Inc.’s plan to get oil shale locked in rocks on Colorado’s Western Slope.

Shell is researching how to get vast oil resources out of oil shale rocks in western Colorado by heating the rocks and melting the oil.
 
The company received federal approval for leasing acreage to conduct the research in 2006 and is now working on getting the necessary state permits for operations related to the research. 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: Shell to pay annual dividend to Moscow

Daily Telegraph Sakhalin2 photo

(An employee of Sakhalin Energy stands at the Sakhalin-2 project’s liquefaction gas plant in Prigorodnoye)

By Russell Hotten
Last Updated: 1:44am BST 27/04/2007

More details of the terms on which Royal Dutch Shell ceded majority control of its flagship Sakhalin-2 gas project have emerged with news that the company will pay the Russian government an annual special dividend.

The agreement to pay the dividend, which will run into hundreds of millions of pounds, was one of a number of concessions agreed by Shell and two Japanese partners in return for their continuing involvement in the lucrative project. 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: Shell to pay Russia £50m dividend for Sakhalin

April 27, 2007
Steve Hawkes

Shell is being forced to pay the Russian Government an annual dividend of about $100 million (£50 million) to keep its stake in the lucrative Sakhalin II offshore project.

The Anglo-Dutch group and its partners admitted yesterday they had agreed to “minor adjustments to the fiscal terms” of the project. The change was pushed through last week when Shell formally handed over a majority stake in Sakhalin II to Gazprom, the Kremlin-controlled gas group.

Analysts said that although the sum would not be material to Shell, it was yet another sign of the Kremlin’s power over Western energy firms desperate to find and exploit new oil and gas reserves. 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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