June 16th, 2007:

Richard Wachman, City editor
Sunday June 17, 2007

Bid speculation is swirling round Centrica, owner of British Gas, which is being targeted by UK and foreign energy giants, according to banking sources.

Groups such as Britain’s BG, Royal Dutch Shell, Gaz de France and Norsk Hydro of Norway are said to be considering whether to make a move on Centrica to thwart a possible bid from Russia’s state-owned Gazprom.

One proposal that involves a merger between BG and Centrica – which were part of the same company before 1997 – is believed to be favoured by British politicians nervous about Centrica falling into the hands of Gazprom, which has close links to the Kremlin. Recently, Tony Blair warned that worsening UK-Russian relations could damage economic ties between the two countries. read more

June 17, 2007
Wendy Sloane

Time was when almost any fresh-faced oil or gas engineer could find a lucrative job straight out of university, working in the oilfields around Dubai or Kuala Lumpur. Now competition for the best jobs is increasingly stiff and industry experience is the most highly prized commodity. But as a skills shortage in the energy industry becomes more acute, qualified people still travel the world.

“The days of the cushy expat number in areas such as Singapore, America or Kuala Lumpur are numbered,” says James Beazley, director of specialist oil, gas and energy for the Six Recruitment consultancy, based in Cheshire. “If you want to go abroad, usually that means new-frontier locations such as Kazakhstan, Azerbaijan and Angola.” read more

(An EIR preliminary investigation into the scandal has uncovered a story that will send shock waves through the City of London financial circles, as well as top figures within the British monarchy, who are all implicated in a scheme that goes to the very heart of global finance, which is now on its last legs.)
 
by Jeffrey Steinberg

On Wednesday, June 6, the British Broadcasting Corporation aired a sensational story, revealing that the British arms manufacturer BAE Systems, had paid more than $2 billion in bribes to Saudi Arabia’s national security chief and longtime Ambassador in Washington, Prince Bandar bin-Sultan, over a 22 year period. read more

EXTRACT: “…Shell or Chevron are the most likely buyers of Western Oil Sands, but neither seems to be in a rush and may wait for someone else to make a bid before making a move

THE ARTICLE

STOCK JUMPS 7%; Total SA preparing bid for Western Oil Sands, French report says…

Claudia Cattaneo, Financial Post
Published: Saturday, June 16, 2007

CALGARY – A Total SA takeover offer for Western Oil Sands Inc. could spark another battle between two European supermajors over Canadian oilsands assets. read more

By Dum-ale Tanee
Coordinator, Movement for the Survival of the Ogoni People (MOSOP), Kansas City Chapter
 
When the retired General Olusegun Obasanjo became the president of Nigeria on May 29, 1999 the number one issue on his top priority list in his inaugural speech was “the crisis in the oil producing areas.” His administration has come and gone with the crisis becoming worse than it was before he took over power. This does not come as a surprise to many indigenes of Niger Delta because of his track record. read more

By John Donovan

This is my comment posted on an article published by The Herald today, 16 June 2007.

We are asked to believe that Shell and Exxon are still committed to the North Sea. That pledge comes under the heading of BS. These ruthless oil giants are committed only to generating massive profits from high oil prices to generate obscene rewards for its fat cat executives. Lee Raymond, the last CEO of Exxon Mobil retired with a financial package worth $400 million. Sir Philip Watts, the disgraced former Group Chairman of Royal Dutch Shell received a severance package worth $20 million even though forced to resign as a consequence of the Shell reserves fraud. Such individuals have no interest in the consequences of their decisions to hard-working people at the coal face of the oil industry. read more

GRAEME SMITH June 16 2007

Shell has pledged its commitment to the North Sea despite selling off almost all its most northerly assets but has warned further job cuts may be required to keep it competitive.

Anne Begg, Aberdeen South MP, visited the company’s Aberdeen headquarters yesterday to meet John Gallagher, vice-president technical, to express her concerns the company no longer viewed Scotland as the best investment prospect. Ms Begg claimed the SNP-led administration had created political instability by picking fights with the UK government. read more

Shell has rejected an MP’s claims that uncertainty over the new SNP government could have been behind its decision to sell some of its North Sea assets.

On Thursday the company announced it was selling its assets in six mature North Sea oilfields and scrapping plans for a £25m headquarters expansion.

Aberdeen South Labour MP Ann Begg met Shell executives on Friday morning.

A spokesman for First Minister Alex Salmond said her remarks bore no relationship to reality.

Unions and politicians have raised concerns over the future of the 400 Shell staff affected. read more

Dutch firm awaits results of testing in pilot program

By Gargi Chakrabarty,
June 16, 2007

Energy behemoth Royal Dutch Shell PLC withdrew an application for a state permit for its hyped oil shale project on Colorado’s public land.

The surprise move raises doubts about the viability of the energy resource and concerns by its competitors.

The Hague-based Shell says it has no plans to abandon the project, spokeswoman Jill Davis said Friday.

It will resubmit the application for the state permit to build a pilot oil-shale project after more data is available from tests on privately owned land, she said. read more

16.06.2007

Royal Dutch Shell tightened security for staff in Nigeria’s anarchic Niger Delta on Friday as a precaution after the release of a prominent rebel leader, security sources said.
 
Shell told non-essential staff to stay at home and restricted the movement of others because of uncertainty over how Thursday’s court decision to free Mujahid Dokubo-Asari on bail would play out in the lawless delta. “It’s a precautionary measure, just in case there is any trouble,” said one security expert working for oil majors. Armed groups in the delta have welcomed the release of Asari, whose detention was one of the factors fuelling an 18-month wave of pipeline bombings and abductions, but the fear is that their celebrations could turn rough. Asari, a fiery orator, has yet to speak publicly since his release and much will depend on what he says when he returns to the region. read more

Friday 15 June 2007

Shell and US giant Exxon, best-known in the UK as Esso, are to dispose of a number of production facilities in one of the biggest recent sell-offs of North Sea assets. The sales — which across a number of fields account for about 74,000 barrels of oil or gas equivalent per day, around 20 percent of the North Sea’s daily production — are likely to raise substantial amounts of money for the oil majors. Venture Production, which lifts oil and gas solely in the North Sea, produces 45,000 barrels a day and is valued at about GBP1 billion. read more