September 30th, 2007:

Dr. John Huong – Former Shell Production Geologist of almost 30 years standing

(Photograph Courtesy of The Borneo Post)

(The following comments in the name of Dr John Huong were published prior to the defamation proceedings brought against him collectively by EIGHT companies in the Royal Dutch Shell Group. It is interesting to note the recommendation for the unification into a single company over  year before the merger into Royal Dutch Shell Plc)

EXTRACTS

I have integrated my personal insights as seen from the perspective of a former Shell employee – a Shell geologist for almost 30 years – who was unfairly axed by Shell management. I was punished because I insisted on working within the ethical boundaries of Shell’s “Statement of General Business Principles” (SGBP) which is supposed to protect shareholder, national and other stakeholder interests. read more

Iran has discovered in-place reserves of 11.4 trillion cubic feet of sweet gas in a southern field, a senior official was quoted as saying.

Mahmoud Mohaddes, head of exploration of the National Iranian Oil Company, said the Sefid Zakhour field in Fars province would have a daily production capacity of more than 1.15 billion cubic feet once it had been developed, state television said.

He predicted 17 wells would be needed for the field, the report said. Recoverable reserves are lower than in-place estimates. read more

Sunday September 30, 2007

The president of Iran has stated publicly that it is his goal to attack the great Satan (referring to the U.S.), develop nuclear weapons and eliminate Israel from the face of the Earth.

We take him at his word, and more importantly, world leaders do, too. That’s why Americans should refuse to invest their taxpayer dollars in companies doing business with Iran’s defense and energy sectors.

To reduce the nuclear threat and stop the flow of American money to terrorism, local, state and federal governments should adopt “terror free investment policies” and divest public retirement funds from international companies that do business with Iran’s energy and defense industries. read more

Sunday, September 30, 2007

The “black rush” for crude oil, which reminds us of the “gold rush” in the 19th century west, is now taking place in Sakhalin, Russia.

About 30 percent of Russian oil and natural gas have been reported to be buried under Sakhalin: 2.7 billion barrels of oil in 11 oil fields, 1.261 trillion square meters of natural gas in 18 gas fields and 2.5 billion tons of coal in 52 mines as confirmed until recently, according to the Korea Trade-Investment Promotion Agency (KOTRA)’s office in Vladivostok, Russia. Such quantity of oil and natural gas can satiate demand of South Korea for three years and sixty years, respectively. read more

September 30, 2007
Louise Armitstead

BP has launched a search for a new chairman in a move that will draw a line under the turmoil that has engulfed the British oil giant for two years.

BP, which has a market value of £107 billion, has appointed a headhunter to find a replacement for Peter Sutherland, who has chaired the company for the past decade.

Anna Mann, doyenne of British headhunting, will conduct the international search.

The company has been rocked by a series of disasters. It faces lawsuits over an explosion at a Texas oil refinery in 2005 which killed 15 people. It has been attacked for lax safety standards in Alaska and for missing production targets. On top of this, its former chief executive, Lord Browne, was forced out earlier this year after admitting he lied in a court case. He has been succeeded by Tony Hayward. read more

30 September 2007

NEW YORK — Oman crude oil’s official price for November on the Dubai Mercantile Exchange Ltd. rose 7.5 per cent from October on concerns of lower supply.

Oman was set at $73.49 a barrel, up from October’s $66.34, based on a Bloomberg calculation of the average closing prices for the past month’s trading. The November contract closed at $76.49 at 12:30 p.m. Dubai time, the exchange said in an e-mail.

Middle East crudes climbed this month as refiners snatched up cargoes on concerns that maintenance at fields in Abu Dhabi would limit supplies for October and November. Royal Dutch Shell Plc’s buying of a record 310 Dubai partials contracts through the oil pricing system of Platts boosted prices. read more

Lincolnway Energy, a midsize distillery in Iowa, was once virtually alone in the region. Today, though, competing distilleries are operating and pouring even more ethanol onto the market.
 
By CLIFFORD KRAUSS
Published: September 30, 2007

NEVADA, Iowa, Sept. 24 — The ethanol boom of recent years — which spurred a frenzy of distillery construction, record corn prices, rising food prices and hopes of a new future for rural America — may be fading.

A Glut of Ethanol

Only last year, farmers here spoke of a biofuel gold rush, and they rejoiced as prices for ethanol and the corn used to produce it set records. read more