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Posts on ‘July 23rd, 2007’

Guardian Unlimited: Polar bears block Arctic oil drilling

Terry Macalister
Monday July 23, 2007

Shell has been forced to halt plans to start drilling in the Arctic by a court challenge from indigenous Alaskans and green groups who claim that polar bears and whales would be put at serious risk.

The ban by the US court of appeal pending a hearing on the issue came as Shell and its new partner Gazprom came under renewed attack for its activities off Sakhalin Island in Russia with a panel of experts from the World Conservation Union urging the operators to do more to protect the western grey whales that feed in the 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.

Reuters: Small Forcados oilfield in Nigeria restarts -Shell

Mon Jul 23, 2007 12:15 PM BST

LONDON, July 23 (Reuters) – A small amount of production has resumed at one of Royal Dutch Shell’s Forcados oilfields in Nigeria, a spokeswoman said on Monday.

Shell said the South Bank flow station, which is connected to the Forcados oil export terminal, restarted production in April.

At peak capacity, the flow station pumps about 36,000 barrels per day. Shell declined to specify how much was currently being produced.

South Bank is just one of several flow stations connected to the Forcados oil tanker loading platform. The platform took in about 380,000 barrels per day before being shut down in February 2006 due to damage from militant attacks. 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: $100 Oil May Be Months Away, Not Years, Say CIBC, Goldman

By Mark Shenk

July 23 (Bloomberg) — The $100-a-barrel oil that Goldman Sachs Group Inc. said would prevail by 2009 may be only a few months away.

Jeffrey Currie, a London-based commodity analyst at the world’s biggest securities firm, says $95 crude is likely this year unless OPEC unexpectedly increases production, and declining inventories are raising the chances for $100 oil. Jeff Rubin at CIBC World Markets predicts $100 a barrel as soon as next year.

“We’re only a headline of significance away from $100 oil,” said John Kilduff, an analyst in the New York office of futures broker Man Financial Inc. “The unrelenting pressure of increased demand has left the market a coiled spring.” New disruptions of Nigerian or Iraqi supplies, or any military strike against Iran, might trigger the rise, Kilduff said in a July 20 interview. 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.

Sydney Morning Herald: Caltex in the market for rivals’ refineries

Matt O’Sullivan
July 24, 2007

AUSTRALIA’s largest oil refiner, Caltex, is interested in buying refineries from some of its arch rivals, which are reluctant to invest here because of competition from bigger Asian plants.

Royal Dutch Shell recently said its Australian business might decide against major investments at its Geelong plant in Victoria and Clyde refinery near Sydney because of competition from larger plants in Asia.

In 2003 Mobil mothballed its Port Stanvac oil refinery in South Australia, leaving the oil giant with only its Altona refinery in Melbourne, where it has already reduced capacity. 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.

HuffingtonPost.com: The New York Times, Mouthpiece for The American Petroleum Institute

Posted July 23, 2007 | 10:09 AM (EST)

Once again The New York Times has come to the defense of the oil industry propagandizing a point of view certain to bring cheer to the American Petroleum Institute and all in the oil and refining business. See yesterday’s first page right hand column “Record Failures At Oil Refineries Raise Gas Prices,” an article that could have been scripted for them by the American Petroleum Institute. To make sure we learn our lessons well, about the hardships being encountered by the industry, the Times belittles any suggestion of profiteering. And of course there is no mention of the manipulated supply of oil a la OPEC, no hint of the possibility of manipulated futures trading on the commodity exchanges (see “Manipulating Stock Prices and Oil Prices: It’s in the Air” 3/22/07), and no reference to the possibility of purposeful restraint of gasoline imports to make up whatever shortfalls may actually exist. 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.

Regina Leader-Post (Canada): Shell closing bulk fuel outlets

SOUTHERN SASKATCHEWAN
Leader-Post staff

Shell Canada Ltd. is closing eight of its bulk fuel and lubricant outlets in southern Saskatchewan, and selling another six locations, a company spokeswoman said Thursday.

“We’ve decided to close some of our agency locations in Saskatchewan,’’ said Jana Saunderson, a public affairs representative with Shell in Calgary. “The last day of business will be this Friday, July 20,’’ she said.

The centres to be closed are located in: Fort Qu’Appelle, Indian Head, Weyburn, Melville, Esterhazy, North Battleford, Prince Albert and Big River. 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.

Canberra Times: World starts to run dry: oilmen

Published: Jul 23, 2007

Humanity is approaching an unprecedented crisis when not enough oil and gas will be produced to keep industrial civilisation running, the world’s top oilmen have warned.

The warning which is being hailed as a ”tipping point” in Europe and North America marks the first time that the industry has accepted that it may soon no longer be able to meet demand for its products.

A report, Facing the Hard Truths about Energy, gives authoritative support to concern about impending shortages, after a similar alert by the International Energy Agency less than two weeks ago. 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: Legal action on Rossport camp initiated

Lorna Siggins, Western Correspondent, Irish Times
Published: Jul 23, 2007

Mayo County Council has initiated legal action against the Rossport solidarity camp which was established over two years ago to support opponents of the Corrib gas project.

An interim order against several named members of the camp was issued by the local authority on Friday night, and is due to be heard at Castlebar Circuit Court this morning.

The order was obtained under section 160 of the Planning and Development Act 2000, on the basis that the camp is “unauthorised”. 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: China gambles on Somalia’s unseen oil

By Barney Jopson in Nairobi
Published: July 23 2007 03:00 | Last updated: July 23 2007 03:00

CNOOC’s willingness to strike an oil deal with the fragile government of Somalia, which has been a failed state for more than a decade, has provided stark evidence of China’s willingness to brave terrain that western oil majors deem too treacherous.

The state-owned Chinese oil giant has signed a production-sharing deal with the transitional federal government in the east African country, which ranks as a high-risk frontier even in an industry well accustomed to dangerous environments. 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: Numbers Game: Why ‘Guidance’ May Not Matter

Wall Street Journal Chart

EXTRACT: Energy analyst Fadel Gheit of Oppenheimer & Co. said he would like to see two giants of the industry he covers, Exxon Mobil and Royal Dutch Shell, begin to issue quarterly guidance. But without that, Mr. Gheit has kept “buy” ratings all year on both companies. He also owns their shares.

THE ARTICLE

Issuing Profit Forecasts
Bears Little on Chances
Of an Upside Surprise
By PETER A. MCKAY
July 23, 2007; Page C1

Fewer companies are issuing earnings guidance these days, but investors may not be missing much. 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: Need to know

July 23, 2007

Natural resources
Down 0.9%

BP, the oil group, will release a trading statement and its interim results today. The company has sought to play down a new dispute in the United States by insisting that a decision to freeze nearly £2 million in pay owing to Lord Browne of Madingley, its former chief executive, and John Manzoni, its former head of refining and marketing, had been taken with their support.

Royal Dutch Shell, the Anglo-Dutch oil giant, will release its interim results on Thursday. This month Shell and Rosneft, the Russian energy group, said that they had reached a strategic co-operation agreement for projects in the oil and gas sectors. 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: Barclays, Friends Provident, Shell: U.K., Irish Equity Preview

By Trista Kelley and Sarah Jones

July 23 (Bloomberg) — The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from the market close on July 20.

The benchmark FTSE 100 Index declined 55, or 0.8 percent, to 6585.20 in London. The FTSE All-Share Index fell 25.96, or 0.8 percent, to 3407.79. Ireland’s ISEQ Index lost 140.92, or 1.5 percent, to 9027.31.

U.K. Companies:

Royal Dutch Shell Plc (RDSA LN): Europe’s largest oil company’s plan to drill the deepest offshore Alaskan oil well was halted by a court to allow consideration of the project’s effect on bowhead whales and other animals. 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: Tony Hayward steps up to the BP plate: ‘increasing speculation that BP is once again examining.. a merger with rival oil giant Shell’

BP CEO Tony Hayward: Daily Telegraph image

(Tony Hayward has begun to stamp his mark on BP but he will have to address production problems)

By Russell Hotten, Industry Editor
Last Updated: 12:40am BST 23/07/2007

When Tony Hayward steps up to deliver BP’s second-quarter figures tomorrow, there will be as much interest in the person as the profits.

Lord Browne of Madingley’s replacement as chief executive of the energy giant has been making subtle changes in tone and culture as he tries to stamp his mark on the company and position BP for a new era.   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, Shell May Say Profit Rose on Refining as BP’s Dropped

By Fred Pals and Stephen Voss
 
Fueling up July 23 (Bloomberg) — Exxon Mobil Corp. and Royal Dutch Shell Plc will probably say this week that second-quarter profit gained because of higher fuel prices, while oil refinery shutdowns may have hurt BP Plc.

Exxon Mobil, the world’s biggest company by market value, will probably report earnings per share climbed to $1.87, or more than $10 billion, from $1.72, based on the average of 15 estimates compiled by Bloomberg. Shell may say profit excluding one-time items rose 2.3 percent to $6.70 billion, according to the median estimate of 11 analysts surveyed by Bloomberg. BP’s earnings likely fell 17 percent to $5.06 billion, the survey showed. 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 Scotsman: As prices sits near record highs, oil’s big two are set to sparkle

VICTORIA THOMSON
 
THE interim reporting season heats up this week when a raft of heavyweights from the banking, oil and pharmaceutical sectors are due to unveil figures.

BP and Royal Dutch Shell report first-half profits figures after facing different challenges in an eventful quarter for the oil majors.

The two firms report as the price of oil hovers around $78 a barrel – near last August’s record high.

Analysts’ consensus forecasts for Royal Dutch Shell are expecting the firm to post underlying earnings of $6.76 billion (£3.3bn) for the second quarter – 7 per cent higher than the $6.31bn reported last year. 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 Independent: The Week Ahead: BP and Shell offer starkly different prospects

By Natale Labia
Published: 23 July 2007

BP and Shell’s results are due this week, and their prospects are starkly different. Brokers are backing Shell to perform strongly, but predict the worst for BP.

Shell has capitalised on strong earnings from oil refining, according to the Deutsche Bank analyst Lucas Hermann, with “further profits being possible from future disposals of extraneous assets”. Credit Suisse says the stock is “underpriced”, and expects 14 per cent profit growth and a record-breaking quarter. 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.

Vanguard (Nigeria): Shell’s Odidi gas project tears Ijaw community apart

By Emma Amaize
Posted to the Web: Monday, July 23, 2007

WARRI —  IJAWS of Ogbe-Ijoh Community in Warri, Delta State are at loggerheads over the execution of the Odidi Associated Gas Gathering Project by the Shell Petroleum Development Company (SPDC).

The disagreement came to light following a protest letter, dated 17 July, by the Ogbe-Ijoh community to the General Manager, SPDC, Warri, alleging that there was a clandestine and provocative plan, promoted by some Ogbe-Ijoh indigenes in collaboration with some SPDC officials to deny the community of its benefits from the 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.

Houston Chronicle: Shell will consolidate with a new facility

Houston Chronicle image: New Shell Admin Building

Shell’s six-story administrative building on Texas 225 will consolidate office space for as many as 750 employees now scattered in buildings throughout the area.
GENSLER

By KATHERINE FESER
Copyright 2007 Houston Chronicle

What will be the tallest office building in Deer Park is taking shape at the Shell chemical plant and refinery on Texas 225.

A six-story, 172,000-square-foot administrative building is going up on 12 acres at 5900 Texas 225. Jacobs Engineering is the construction manager, and JE Dunn is the general contractor. 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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