December 17th, 2007:

Shell confidential reserves fraud court documents published 18 December 2007

Transcript of Videotaped Deposition of John Pay, Royal Dutch Shell Group Hydrocarbon Resource Coordinator, also known as Group Reserves Coordinator (“GRC”) for Shell Exploration and Production: taken in Washington D.C. on January 22, 2007

Exhibit 230: John Pay Deposition plus Shell letter dated 31 October 2002 to U.S. Securities & Exchange Commission from Tim Morrison, Group Controller, plus other confidential documents (338 pages) read more

An artist’s rendering of a bowhead whale diving. (Richard Ellis)

December 17, 2007,  11:04 am
By Andrew C. Revkin

Our endless quest for that wondrous liquid fossil fuel, oil, is expanding toward the ends of the Earth as higher prices justify more extreme extraction efforts. Jad Mouawad, my friend and colleague covering the global oil industry, ventured to frigid Barrow, Alaska, recently to write about the Royal Dutch Shell’s planned exploration push offshore into the Arctic Ocean, and the implications for the whale-hunting Inupiat natives of Barrow. read more

The Associated Press
Monday, December 17, 2007

SINGAPORE: Oil prices rose Monday as another winter storm pummeled the U.S. with snow, sleet and freezing rain — weather conditions that were expected to boost fuel demand.

Around a foot (30 centimeters) of snow had fallen on parts of the Chicago area, with 10 inches (25 centimeters) in Vermont. The U.S. National Weather Service on Sunday posted winter storm warnings from Michigan and Indiana all the way to Maine. Meteorologists said 18 inches (46 centimeters) was possible in northern New England; more snow was still expected in parts of Michigan. read more

Bloomberg Headline: Oil Returns Most on Sale of Exxon, Shell, Buying Cameron, FMC

By Jim Kennett and Amy Strahan

Dec. 17 (Bloomberg) — Oil prices above $90 a barrel are doing more for shareholders of Cameron International Corp. and Baker Hughes Inc. than Exxon Mobil Corp. and Chevron Corp. A lot more.

Exxon, the world’s largest oil company, Chevron, the second-biggest in the U.S., and the rest of the industry are struggling to increase production and profits because the most promising new fields are miles beneath the ocean. Their difficulties are making Houston-based Cameron and Baker Hughes richer, since they provide the valves, pumps and fluids needed to extract crude from the waters off Brazil to the Arctic Ocean. read more

December 17, 2007: 04:34 AM EST

LONDON -(Dow Jones)- OAO Gazprom-run (GAZP.RS) Sakhalin Energy Investment Co. Ltd. is to further delay exports of liquefied natural gas, or LNG, to clients in Asia and the U.S.

A Sakhalin Energy spokesman said the Russian Far Eastern project would start delivering cargoes “shortly after” it starts producing at the end of 2008. He said the company is “in contact” with customers but declined to say if it would be fined for the delay.

Sakhalin Energy had already postponed first LNG cargo deliveries from mid-2007 to the third quarter of 2008 as costs ballooned to $20 billion. read more

By Treacy Hogan Environment Correspondent

NEW routes unveiled yesterday for the controversial Corrib gas pipeline in north Co Mayo will avoid more houses than under the original plan.

Shell said the new routes are variations on the two previously shortlisted options for bringing gas ashore in Co Mayo.

One would limit the distance the pipeline crosses unspoiled bogland in Rossport, while the other would mean a shorter route through Sruwaddacon Bay.

Both are further away from housing than the original proposal. read more

Mon Dec 17, 2007 8:12am GMT 

MOSCOW, Dec 17 (Reuters) – Sakhalin Energy, one of the world’s largest liquefied natural gas (LNG) projects, said on Monday it would delay first exports of the fuel to customers in Asia and the United States by at least a few months.

“We aim to complete the main construction and commence LNG plant start-up at the end of 2008. LNG exports are expected to start shortly thereafter,” a Sakhalin Energy spokesman said.

The group, which has signed up customers for almost all of its production volumes, had previously pledged to start exports in the third quarter of 2008. read more

By Stefan Wagstyl, Financial Times
Published: Dec 17, 2007

This was the year that Vladimir Putin bared his chest for the world. Pictures of the Russian president fishing shirtless in Siberia with his biceps bulging, were distributed by the Kremlin with a clear message: a tough leader for a tough country.

In 2006, a resurgent Russia asserted itself principally through the energy markets by demanding higher prices for its oil and gas and threatening to cut off those refusing to pay. This year, Moscow has flexed its muscles over a much broader front, challenging the US and the European Union over issues ranging from missile defence and Kosovo to election observers. read more