September, 2007:

Published: Sep 17, 2007

SYDNEY (Thomson Financial) – Shares in Australian-listed oil and gas company, Oil Search Ltd, closed sharply higher Monday after a Hong Kong newspaper reported that state-owned China National Petroleum Corp (CNPC) and its Hong Kong-listed subsidiary PetroChina Co Ltd are considering bidding up to 5 billion US dollars for the company.

Oil Search, which has long been touted as a takeover target, is based on the Pacific Island of Papua New Guinea. CNPC is China’s largest oil and gas producer. read more

By Dino Mahtani in London
Published: September 17 2007 03:00 | Last updated: September 17 2007 03:00

Libya announced recently that it had approved more than 50 companies, including the world’s biggest multinationals, to make commercial bids to develop its gas reserves.

International oil companies are facing spiralling industry costs.

They are locked out of some of the world’s most prolific hydrocarbons deposits in the Middle East and they face a rising tide of resource nationalism elsewhere. read more

By Najmeh Bozorgmehr in Tehran
Published: September 17 2007 03:00 | Last updated: September 17 2007 03:00

Iran’s acting oil minister said on Sunday that the multi-billion-dollar liquefied natural gas agreement with Total of France to develop part of South Pars, the world’s biggest field, needed ‘reconsideration’ because of differences over the price Tehran would be paid for its gas.

Gholam-Hossein Nozari said the rate quoted by the French energy group on marketing LNG was high, which would force Iran to “study the feasibility of this plan once again”. read more

Telegraph.co.uk: Bush setting America up for war with Iran

By Philip Sherwell in New York and Tim Shipman in Washington
Last Updated: 2:29am BST 17/09/2007

Senior American intelligence and defence officials believe that President George W Bush and his inner circle are taking steps to place America on the path to war with Iran, The Sunday Telegraph has learnt.
  
Pentagon planners have developed a list of up to 2,000 bombing targets in Iran, amid growing fears among serving officers that diplomatic efforts to slow Iran’s nuclear weapons programme are doomed to fail. read more

EXTRACT: The foreign minister also said leading French companies such as Total and Gaz de France had been urged not to undertake new work or contracts in Iran.

THE ARTICLE

The world should brace for a possible war over the Iranian nuclear crisis but seeking a solution through talks should take priority, French Foreign Minister Bernard Kouchner said on Sunday.

“We have to prepare for the worst, and the worst is war,” he said in an interview broadcast on French television and radio.

“We must negotiate right to the end,” with Iran, he said, but underlined that if Tehran possessed an atomic weapon, it would represent “a real danger for the whole world.” read more

By KADYR TOKTOGULOV and LIAM MOLONEY
September 17, 2007

ALMATY, Kazakhstan — A proposed law that would allow the Kazakh government to annul natural-resources contracts appears aimed at pressuring Kashagan oil developers led by the Eni SpA amid tense negotiations, rather than as a broad-based threat to energy and mining companies, analysts and a person familiar with the matter said.

The proposed amendment, which would give the Kazakh government the right to pull out of natural-resources contracts if there is a threat to national security and economic interests, is expected to be adopted in the next two weeks, lawmaker Valeriy Kotovich said. read more

Anita Roddick outside a Body Shop branch in 1989

Dame Anita Roddick – environmentalist, human rights campaigner and founder of The Body Shop – died suddenly last week, aged 64. At her Sussex home shortly before her death, she gave this poignant interview to Elspeth Thompson, looking back over an eventful life and discussing her plans for the future

By Elspeth Thompson
Last Updated: 2:29am BST 17/09/2007
 
What struck me first was how small she was. That famous untamed mane of hair, not to mention her outspoken views and public persona, had led me to think of Anita Roddick as a tall, even Amazonian presence – yet the woman walking to meet me was only just over five feet, with a tiny, bird-like frame. And I hadn’t expected her kindness. read more

By Angela Macdonald-Smith

Sept. 17 (Bloomberg) — Oil Search Ltd., the biggest holder of natural gas resources in Papua New Guinea, rose the most in five years after the South China Morning Post said the company may be a takeover target for China National Petroleum Corp.

China National Petroleum and its unit PetroChina Co. are studying a bid of as much as $5 billion for the Port Moresby- based company, the newspaper reported today, citing people it didn’t name. Oil Search has held talks with China National Petroleum on potential natural gas sales, not on any takeover offer, said Ann Diamant, a spokeswoman. read more

BARRON’S: Where Is Oil Headed? A Contrarian Says $45 — Part II

MONDAY, SEPTEMBER 17, 2007
Interview — Part I

So what are people missing?

I have never seen the gap between reality and the perception of reality as big as it is right now. The perception of what I call Chindia, the idea that demand growth globally is robust and is going to be led by the emerging-market economies of China and India, is still strong. It is a great idea. But when you look at the data, you will see it doesn’t match, and when you talk about peak oil and see what is happening to non-OPEC supply, there is a problem because supply growth this year is going to be one of the largest in almost 30 years, and next year looks like it is going to be similar to this year. Guys like me care about the totality of non-OPEC supply growth, even biofuels, or non-oil fuel, which are a subset of the non-OPEC supply curve. Biofuel supplies, which include soybeans for diesel fuel and corn for ethanol, will be up this year roughly 350,000 a day versus last year. That’s a big number, about 40% in terms of its volume. It is going to be up by a similar volume in 2008. This is in response to higher average oil prices and concerns about availability. read more

By David Prosser, Deputy Business Editor
Published: 14 September 2007

Senior directors from the world’s largest oil companies have agreed to attend a summit meeting next month in order to discuss working together to tackle health and safety issues.

Heads of safety from oil majors including BP, Shell and Total will meet together for the first time in order to agree a joint approach to improving the industry’s safety record.

The summit meeting follows increasing concern among oil executives that a series of disasters and safety failures is jeopardising their reputation and damaging business prospects. While the industry has collaborated in the past on safety issues, next month’s meeting will be the first time the majors have dispatched their most senior safety directors to talks. read more

09.16.07, 11:42 AM ET 
 
ZURICH (Thomson Financial) – Swiss retailer Migros Genossenschaftsbund, and Royal Dutch Shell have agreed to join forces in Switzerland, Sunday newspaper SonntagsZeitung reported without disclosing its sources.

The newspaper said the Swiss group will take over the oil company’s petrol station shops and Shell the running of Migros’s petrol stations.

Both companies confirmed they have agreed to test the new concept on four petrol stations over the next six months. read more

Former Shell chairman says that diminishing resources could push price of crude to $150 a barrel

By David Strahan and Andrew Murray-Watson
Published: 16 September 2007

Lord Oxburgh, the former chairman of Shell, has issued a stark warning that the price of oil could hit $150 per barrel, with oil production peaking within the next 20 years.

He accused the industry of having its head “in the sand” about the depletion of supplies, and warned: “We may be sleepwalking into a problem which is actually going to be very serious and it may be too late to do anything about it by the time we are fully aware.” read more

EXTRACT: Giving ‘fully bipartisan’: Among those industry executives contributing to Clinton’s campaign was Shell Oil President John Hofmeister of Houston, who gave the senator $4,600 — the maximum allowed for primary and general elections. Hofmeister and his wife, Karen, who also contributed $4,600 to Clinton, attended a fundraiser for the candidate in August at the Houston home of Eileen and Kase Lawal. Hofmeister, who told a group in Washington last year that he ensures his political giving is “fully bipartisan, 50-50,” also contributed $2,100 to Giuliani. His wife gave $2,300 to the former mayor. read more

Sunday 16th September 2007 

Dubai: Shell has reaffirmed its commitment to meeting the global energy challenge through innovation.

The affirmation came during a ceremony held at the Fairmont Hotel in Dubai to celebrate the company’s centenary of global operations.

A delegation of business leaders, stakeholders and key customers from around the region convened at the event to mark the anniversary of one of the largest foreign investors in the Middle East, said a spokesman.

The company, which was formed on July 5, 1907, following an agreement between Royal Shell and Shell Transport and Trading, is now a global group of energy and petrochemical companies, employing more than 108,000 people worldwide and active in 145 countries and territories. read more

With oil prices rising amid tricky economic conditions, Sylvia Pfeifer wonders how much higher it can go

16/09/2007

Oil barons like to think they’ve seen everything, but last week the déjà vu was positively spooky. Ten years ago, ministers of Opec, the oil price cartel, congregated in the Indonesian capital of Jakarta to discuss whether to pump more crude. With prices trading at $20 a barrel and China beginning to demand more oil, Saudi Arabia persuaded other members to boost production by 10 per cent. read more

September 16, 2007
Business Digest

THE oil giant Royal Dutch Shell is in talks to swap a stake in its German Miro refinery in return for production assets owned by Rosneft, the state-controlled Russian company.

The move comes after the two oil groups struck a landmark partnership deal in July to cooperate on oil and gas projects in Russia.

Shell has been keen to expand its interest in Russia after it was forced to surrender control of the $21 billion (£10.4 billion) Sakhalin-II offshore development to Gazprom, the Kremlin-backed gas firm, at the end of 2006. read more

September 16, 2007

Less than a decade after its humiliating debt default, Russia’s economy is booming as never before. But President Putin is using his country’s newfound wealth to boost the military, stoke nationalism and, increasingly, to confront the West. Is this the beginning of a new cold war?

Report by Brian Moynahan

Moscow has been washed all summer by the northern sun, lingering over the gilded onion domes of St Basil’s and glowing softly off the cobblestones of Red Square.

The shoppers are out until late in the elegant galleries and boutiques around the Kremlin wall. Green parasols shade open-air diners, and laughter drifts from the beer gardens. Moscow has never had it so good. read more

SARAH STACK, The Mirror
Published: Sep 15, 2007

FIVE demonstrators were arrested and two gardai injured as clashes broke out during protests at the Corrib gas terminal site.

One man was arrested for allegedly assaulting a garda sergeant at the Bellanaboy compound, Co Mayo, while four others could face public order charges.

Around 200 Shell To Sea protesters travelled to the region to stage a sit-down blockade against the construction of a gas refinery and pipeline.

But the peaceful protest turned sour when demonstrators climbed the compound gates and stopped construction. read more

Aine Ryan and Ronan McGreevy, Irish Times
Published: Sep 15, 2007

Five people were arrested during clashes between Shell to Sea protesters and gardaI at the Corrib gas terminal site in Co Mayo yesterday.

A protester was arrested as a result of an alleged assault on a garda who was taken to hospital with a suspected broken nose.

The protester was released without charge and a file was sent to the Director of Public Prosecutions.

Four others were arrested for public order offences, but were also released without charge. read more

By Rebecca Bream
Published: September 15 2007 03:00 | Last updated: September 15 2007 03:00

Regal Petroleum, the Aim-listed oil and gas group founded by Frank Timis, yesterday unveiled a long-awaited deal to develop its Ukrainian gas fields.

Regal said it had signed a memorandum of understanding with MND Exploration and Production, a private Czech oil company, that would involve MND receiving a 50 per cent stake of Regal’s Ukrainian gas assets in return for a commitment to spend $330m (£163m) on their development. read more

Steam rising from the Syncrude upgrading site, where oil sand is converted into synthetic crude oil

Last Updated: 12:01am BST 15/09/2007

In the hunt for new fuel sources, a vast swath of western Canada is being mined for its precious ‘oil sands’. Jack Fairweather visits the centre of the new gold rush. Photographs by Jonas Bendiksen

Donnie Leblanc is surprisingly nonchalant for a man who has just blown $20,000 on a two-day trip to Las Vegas. But then, since he came to northern Canada, he hasn’t had to worry too much about money – and there is plenty more where that came from. In a few months’ time he will have saved enough to hit the casinos again. read more

September 15, 2007
ROBERT COLE

TO SOME he is Eric the Evil, a corporate raider armed to the back teeth with weaponry designed to deliver fast-buck profits regardless of the collateral damage it may wreak. To others he is the Knight in shining armour, riding to the rescue of distressed shareholders caught in the clutches of mighty, lazy, corporations.

Eric Knight and his investment firm, Knight Vinke, is now preparing an assault on one of the biggest of stock market citadels: HSBC. It has a market value of £104 billion and vies with BP for the honour of being the largest FTSE 100 company. It is a global banking enterprise that likes to think it retains strong local links. Its roots are in Hong Kong and Shanghai and in Britain it owns the First Direct branchless operation and is heir to the Midland Bank franchise. read more

Humberto dumped heavy rain on much of Louisiana, flooding streets as it lumbered across the state on Sept. 13. (AP/Bill Haber)

By MICHAEL GRACZYK | Associated Press Writer
12:27 AM EDT, September 15, 2007

HOUSTON – Utility crews restored electricity Friday to half of the homes and businesses left without power after Hurricane Humberto, while experts estimated total damages from the storm would cost less than $500 million.

Humberto, the first hurricane to hit the U.S. in two years, continued to lose strength Friday as its remnants moved through Mississippi to the East Coast. The storm made landfall Thursday in Texas and then pushed across Louisiana. read more

Vol. 12, No. 37  Week of September 16, 2007

By Marvin Odum, executive vice president of Shell Exploration & Production-Americas

More than two years ago, Shell returned to Alaska to explore for the vast oil and gas resources yet to be discovered in the state’s offshore regions. We recognized a key ingredient to our success would be finding common ground with the people of Alaska so that these resources could be developed for the benefit of all involved.

Though we may never fully understand the subsistence culture, through continued dialogue there is a great deal we can accomplish together. We will continue to listen and learn from the people and communities of the North Slope and residents across Alaska. Important work and discussions are ongoing with Mayor Itta and we are heartened by the progress being made. read more

Starts to idle contract personnel, but says door not shut on ’07 Beaufort drilling

By Alan Bailey
Vol. 12, No. 37  Week of September 16, 2007

It’s been more than a month since Shell hoped to start its drilling program in the U.S. Beaufort Sea off Alaska, and three weeks since the U.S. Court of Appeals for the 9th Circuit placed a temporary injunction on that program. But Shell says that it could still drill, were the court to reverse its decision in the near future.

“If the court reverses the injunction quickly, Shell could proceed with its drilling program either by reactivating the Frontier Discoverer or conducting work with the Kulluk, our drilling rig built specifically for Arctic conditions and anchored in the Canadian Beaufort,” Shell spokesman Curtis Smith said Sept. 11. read more

Fri 14 Sep 2007

NEW YORK (Reuters) – Oil held near $80 a barrel after earlier rising to its third record high in as many days on Friday amid concerns over low inventories of fuel in consuming nations.

Three refineries in the Port Arthur, Texas-area were working to restore operations after losing power on Thursday when Hurricane Humberto battered the U.S. Gulf Coast. The storm is now a tropical depression.

The temporary loss of three refineries renewed concerns over fuel stocks in the United States, where supplies of crude fell last week to the lowest level in eight months, while gasoline stocks slid to their lowest in two years. read more

A small – but growing – group of experts think world oil production will peak in the next few years, to devastating effect.

By Steve Hargreaves, CNNMoney.com staff writer
September 14 2007: 2:50 PM EDT

NEW YORK (CNNMoney.com) — At some point in the near future, worldwide oil production will peak, then decline rapidly, causing depression-like conditions or even the starvation of billions across the globe.

That’s the worst-case scenario for subscribers to the “peak oil” theory, who generally believe oil production has either topped out or will do so in the next couple of years.
 
A small but growing group of experts think oil production will peak in the next few years, then decline rapidly. The result could be worse than the Great Depression. read more

COMMENT BY A SHELL INSIDER ON THE NCR ARTICLE

“I hope some journalists start putting this and the Brent fatalities together and strengthen Campbell’s story. It all is a result of forcing the substandard Shell Expro’s safety mentality onto the whole of EPE. The results are terrible and speak for themselves. And obviously no consequences for the self appointed ‘leaders’.”

THE NRC ARTICLE: English translation kindly supplied by a Shell insider

The Hague, 13 Sept.2007

The safety at Nederlandse Aardolie Maatschappij (NAM) knew structural shortcomings when at 31st may 2005 a storage tank on the premises of the NAM in Warffum exploded. That concluded the ‘Onderzoeksraad voor Veiligheid’ (an national enquiry body that investigates major safety issues) of Pieter van Vollenhoven in an investigation published today. During welding activities on the storage tank with combustible natural gas condensate the tank exploded and a fire resulted. The explosion killed two workers, two others had minor injuries. The ‘Onderzoeksraad’ said that it is a must to again critically analyse the ‘Safety Management and on the basis of the results take actions. (ANP). read more

By Paul Taylor

BRUSSELS, (Reuters) – The European Union is trying to fend off moves by the U.S. Congress to punish foreign firms that do business in Iran, diplomats say.

They say Brussels fears the U.S. moves could set Western allies against each other and undermine unity against Tehran over its refusal to halt uranium enrichment, which the West suspects is aimed at making nuclear weapons.

The main European powers say they are willing to join Washington in seeking tougher sanctions against Tehran at the United Nations. read more

By Conrad de Aenlle
Friday, September 14, 2007

Energy prices have been shaky, and so has the stock market. No wonder energy stocks, which were such standouts for so long, hit a rough patch. Shares of companies that hunt for oil and gas, drill for it, refine it and sell it recorded double-digit percentage losses from late July, when crude oil prices set records and commodities like heating oil and natural gas hit multimonth highs, through mid-August.

Analysts and fund managers tend to dismiss the decline as just a dip in an uptrend that is not close to running its course. As if to confirm this view, the stocks have regained a significant portion of the lost ground. read more

3-0 DECISION: The oil company says it’ll keep trying for a green light.

By WESLEY LOY
[email protected]

Published: September 14, 2007
Last Modified: September 14, 2007 at 03:03 AM

A federal court on Thursday denied Shell’s latest request to lift an order blocking the company’s Arctic Ocean drilling.

The ruling from the 9th U.S. Circuit Court of Appeals in San Francisco likely dooms the Dutch oil giant’s drilling plans, at least for this year.

Shell’s lawyers had asked the court to reconsider its Aug. 15 order forbidding any offshore drilling pending resolution of legal challenges from North Slope Natives and environmental groups. A three-judge panel unanimously declined. read more

LONDON (Thomson Financial) – Royal Dutch Shell PLC said the 285,000-barrel per day Port Arthur oil refinery in Texas was shut down after Hurricane Humberto struck the area, causing widespread power cuts.

The refinery is run by Houston-based Motiva Enterprises LLC, jointly owned by Shell and Saudi Aramco.

‘The Port Arthur electric utility has experienced widespread outage in its service area as a result of Hurricane Humberto,’ Shell said.

‘The Motiva Port Arthur Refinery was affected and all units were shut down as a result,’ it added. read more

14/09/2007  13:01

Five people were arrested today after around 50 protesters occupied Shell’s proposed Corrib gas refinery at Bellanaboy in Co Mayo.

Up to 300 supporters of the Shell to Sea campaign began gathering outside the site from early this morning. A large number of them later scaled the gates of the complex.

According to witnesses, there were a number of violent clashes between protesters and gardaí wielding batons.

The activists were on the site for around 40 minutes before being removed by gardaí. They are now holding a sit-down protest outside the facility, and some 200 gardaí are at the scene. read more

By Fergal O’Brien

Sept. 14 (Bloomberg) — Protesters occupied the site of a proposed Royal Dutch Shell Plc natural-gas refinery in western Ireland today, temporarily halting work at the facility, the Irish Times reported.

Around 300 people took part in a protest today at the gates of the site and a “large number” scaled the gates and entered the facility, the Times reported on its Web site. Police arrested at least one person after clashing with the protesters, it said.

Shell, Europe’s largest oil company by market value, plans to begin building the terminal next month. The facility is intended to process gas from the offshore Corrib field, which contains about 1.1 trillion cubic feet of gas. read more

Friday, September 14, 2007

Shell Ireland has condemned the actions of protestors who trespassed onto its Bellanaboy refinery site in Co Mayo this morning.

A large group of Shell to Sea protestors was bussed into the area this morning to take part in a sit-down blockade of the site.

However, at least 50 people climbed into the compound in an effort to disrupt construction work.

Five protesters were arrested and two Gardai were injured.

Shell Ireland says it has no problem with peaceful demonstrations and has criticised Shell to Sea for failing to control the people involved in today’s incident. read more

Jimitota Onoyume, Vanguard (Nigeria)
Published: Sep 14, 2007

GUNMEN, Wednesday night abducted the two-year-old daughter of a Nigerian Shell worker from the NNPC staff quarters at Akpajo, near Port Harcourt. Moments after the abduction, the gunmen demanded a ransom of N5 million.

However, the State Security Service (SSS) yesterday arraigned one Prince Amadu and others said to be at large at a Magistrate Court, Port Harcourt for alleged kidnap and unlawful imprisonment.

Police spokesman in Rivers State, Mrs. Baresua Ireju said preliminary investigation on yesterday’s abduction revealed that the gunmen were robbers. read more

Story Updated: Sep 14, 2007 at 12:44 AM AKDT
 
ALASKA/ NATIONAL – The 9th Circuit Court has backed up a ruling preventing Shell Oil from drilling in the Beaufort Sea. The original ruling came down in August and was appealed.

The Court has stopped activity under the three year exploration plan until it can resolve the challenges to the plan and has put the case on a fast track.

According to a press release regarding the issue, a coalition of Native Alaskans and conservation groups had sued to halt the drilling on concerns that such large-scale industrial activities would threaten endangered Bowhead whales, polar bears and other marine animals in coastal waters just off the Arctic National Wildlife Refuge. The groups challenged the permit issued by the federal Mineral Management Service on grounds that the agency failed to conduct proper assessment of environmental impacts. read more

John McLaughlin, Lloyds List
Published: Sep 14, 2007

SENIOR executives at Italian energy company Eni face weeks of tough negotiations over the fate of the Kashagan oilfield development, after the Kazakh government criticised delays and cost overruns as a threat to the national economy.

In a statement issued following an initial meeting with Eni managing director Paolo Scaroni in Astana on Tuesday, Kazakh energy and mineral resources minister Sauat Mynbayev said ‘inflicting damage on Kazakhstan’s economic interests is inadmissible’. read more

Martyn Wingrove, Lloyds List
Published: Sep 14, 2007

NORWAY’s second largest offshore gas field, Ormen Lange, has started production from the Norwegian Sea, with gas set to flow along the world’s longest subsea pipeline to the UK, writes Martyn Wingrove.

Field operators Norsk Hydro and Shell are using gas and condensate volumes from the field to test pipelines and process plant at the Nyhamna terminal, near Molde, before gas is sent down the new 1,200 km long Langeled pipeline to the Easington terminal in eastern England. read more

Rizalman Hammim,
Published: Sep 14, 2007

SEREMBAN: The family of a murdered oil company executive, desperately wants answers.

Peter Paul Nonis, an executive with the Shell refinery in Port Dickson, was found unconscious and bleeding in a drain just metres outside the refinery about 7pm last Wednesday.

He had three deep slash wounds on his head and his left wrist was almost severed. The wrist had to be amputated later in hospital.

Nonis, 42, was placed on a life support machine but succumbed to his injuries on Saturday. Police have classified the case as murder and had ruled out robbery as the motive as his valuables were intact. “He was such a nice and helpful man and did not deserve to die this way. We really do not understand why anybody would want to do such a thing,” said James, the victim’s older brother. read more

By David Lee Smith September 14, 2007

You can’t blame ExxonMobil (NYSE: XOM) for reaching the end of its patience. With Venezuela’s Castro-wannabe President Hugo Chavez sending the company and five of its peers packing earlier this year, and with negotiations on compensation having become a dry hole for the company, Exxon will pursue arbitration in the dispute.

The company could be joined by ConocoPhillips (NYSE: COP), which, like Exxon, has refused to roll over and accept Venezuela’s settlement terms. The four companies who capitulated to Chavez include Chevron (NYSE: CVX), BP (NYSE: BP), France’s Total (NYSE: TOT), and Norway’s Statoil (NYSE: STO). read more

Published: Sep 14, 2007

(Full text of a statement. Contact details below.)

Platts Global Top 250: The World’s Top Performing Energy Companies

SINGAPORE, Sept 13 /PRNewswire-AsiaNet/ —

(Integrated Oil Companies Top Annual List Due To High Oil Prices; Asian Company Representation and Performance Steady to Rising)

Major oil and gas companies have consolidated their position as the world’s most effective energy businesses, dominating the rankings in the annual Platts Top 250 Global Energy Companies, announced Thursday night. read more

Anton McNulty,
Published: Sep 14, 2007

Five Shell to Sea environmental campaigners who blockaded the entrance of a Bord na Mona peat depository site in Co Mayo were sentenced to 100 hours’ community service in lieu of three months’ imprisonment at yesterday’s sitting of Ballycroy District Court.

The five defendants, Kate Kirkpatrick, Anna Rudd and Emma Jackson of Millfield Road, Clapham, London, Julie Ryder of Nine Ladies, Recs Cross Station, Lees, Matlock, and Eoin O Leidhon, Meelagulleen, Ballinskelligs, Co Kerry, were convicted of engaging in threatening and abusive behaviour. However, charges of wilful obstruction and failure to comply with the direction of gardaI were dismissed by Judge Mary Devins. read more

Lorna Siggins, Western Correspondent,
Published: Sep 14, 2007

Shell E&P Ireland and its Corrib gas partners have promised to establish a long-term investment fund for the Erris area of north Mayo on the recommendation of Government mediator Peter Cassells.

No figure has been put on the fund by the Corrib gas lead developer, which has acknowledged that it will be tax-deductible under its licensing terms.

The sum will be “significant”, Shell says, and it will be administered by an advisory panel involving key agencies. read more

Fri Sep 14, 2007 1:08am EDT
By Felicia Loo

SINGAPORE (Reuters) – Oil slid towards $79 a barrel on Friday, as a hurricane subsided in the Gulf of Mexico, though prices held near the previous day’s record high on supply worries ahead of peak winter demand.

U.S. crude for October dropped 42 cents to $79.67 a barrel by 0450 GMT, having settled up 18 cents in New York on Thursday, when prices hit a record of $80.20 a barrel. London Brent crude for November lost 27 cents to $76.85.

U.S. gasoline futures eased 0.4 percent after leading gains on Thursday, as Hurricane Humberto was downgraded to a tropical storm after shutting oil shipping channels and three refineries when it slammed onshore in Texas. read more

Sept. 14, 2007, 12:33AM
ENERGY

With traders already jittery, supply worries lead to record

By BRETT CLANTON
Copyright 2007 Houston Chronicle

The price of oil closed above $80 a barrel for the first time Thursday after Hurricane Humberto knocked out power to three Texas oil refineries and rattled traders who were already anxious about tight oil supplies.

Light, sweet crude finished at a $80.09, 18 cents above the record set the day before. Adjusted for inflation, however, the new high falls short of the $38 oil price in early 1980, equivalent to nearly $100 a barrel in today’s dollars, according to the U.S. Energy Information Administration. read more

By Angela Macdonald-Smith and Christian Schmollinger

Sept. 14 (Bloomberg) — Crude oil fell from a record close in New York after Hurricane Humberto spared offshore production platforms and weakened into a tropical depression as it passed over Texas into Louisiana.

There were no reports of damage to production units at three refineries that had power supplies knocked out by the storm in Port Arthur, Texas, idling 4.8 percent of U.S. capacity. Total SA’s plant will be restored by Sept. 18, according the Department of Energy’s Web site. Valero Energy Corp.’s unit will restart Sept. 16, a Texas state government Web site said. Royal Dutch Shell Plc gave no timetable. read more

Bill Barnhart | Market report
September 13, 2007

Now that crude oil futures have hit a milestone, $80 a barrel, expect chatter around the water cooler and urgent remarks by politicians.

“It is a psychological threshold; there is no doubt about it,” said Antoine Halff, head of energy research at Fimat USA.

What follows are some talking points you can use to contribute to or at least evaluate the inevitable reactions:

– Oil prices have been rising for several years, as industrial use expands globally and more people drive more cars more. A new tropical storm in the Gulf of Mexico, sabotage affecting Mexican oil output and a refinery disruption at BP’s Alaskan operations sparked the latest move. read more

(The macaque nestles his head against his feathered friend)

Last updated at 13:17pm on 13th September 2007

They’re an odd couple in every sense but a monkey and a pigeon have become inseparable at an animal sanctuary in China.

The 12-week-old macaque – who was abandoned by his mother – was close to death when it was rescued on Neilingding Island, in Goangdong Province.

After being taken to an animal hospital his health began to improve but he seemed spiritless – until he developed a friendship with a white pigeon. read more