Royal Dutch Shell Group .com Rotating Header Image

Posts on ‘February 9th, 2008’

allAfrica.com: Nigeria: NNPC, Shell Disagree Over Downsizing

This Day (Lagos)
9 February 2008
Stanley Nkwazema
Abuja

The management of the Nigeria National Petroleum Corporation (NNPC) is not comfortable with the ongoing restructuring at the Shell Petroleum Development Company of Nigeria (SPDC).

An NNPC official said yesterday that the corporation, as the principal partner with a 51 per cent stake in the NNPC/Shell/Agip/Elf joint venture arrangement, should be properly briefed before an action of such a magnitude is taken by the Anglo-Dutch firm.
 
It also feels that Shell, which was yet to communicate the restructuring plan to the NNPC, cannot justify the plan. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Islamic Republic News Agency: Iran has 90 billion barrels oil reserves in Persian Gulf

Tehran, Feb 9, IRNA
Iran-Persian Gulf-Oil

The managing director of the National Iranian Continental Shelf Oil Company said on Saturday that Iran’s oil reserve in Persian Gulf is estimated at 90 billion barrels.

“With new oil discovery in the region, the reserve may amount to 100 billion barrels,” said Mahmoud Zirakchian Zadeh.

He told the press that Iranian oil reserves in the Persian Gulf were estimated at 53 billion barrels last year; meanwhile, the Persian Gulf has great potentials to uncover the new oil and gas fields, IRNA reported. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

THE WALL STREET JOURNAL: Crude Oil Rises 4.2%, Lifted by Supply Fears

Wall Street Journal image

By GREGORY MEYER
February 9, 2008; Page B5

Crude-oil futures jumped more than 4%, buoyed by a combination of supply jitters and winter shivers in the U.S. Northeast.
 
Light, sweet crude for March delivery rose $3.66, or 4.2%, to $91.77 a barrel on the New York Mercantile Exchange, the highest settlement since Jan. 30 and the largest single-day dollar and percentage gain since Dec. 12.

The oil market took off on perceptions that world oil supply could fall back in coming weeks. Two Middle East delegates to the Organization of Petroleum Exporting Countries said the cartel should agree to curtail output at its next meeting March 5, as crude stockpiles are recovering and oil demand may be on the wane. Venezuela’s oil minister, Rafael Ramirez, said the OPEC member country is looking into supporting a cut. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

THE WALL STREET JOURNAL: Venezuela Returns Fire Against Exxon

By DAVID LUHNOW and PETER MILLARD
February 9, 2008; Page A3

Venezuela reacted angrily Friday to Exxon Mobil Corp.’s move to freeze $12 billion in overseas assets of Venezuela’s state-run oil titan, Petroleos de Venezuela SA, calling it “legal terrorism.”

Exxon is taking Venezuela to international court over last year’s move by President Hugo Chávez to give the state a majority share in four big oil projects that were being managed by private oil companies. In recent weeks, the Texas-based oil company won court orders in countries including the United Kingdom to freeze assets owned by PdVSA, as the Venezuelan company is called, in order to ensure payment in the event Exxon wins its case. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

The Guardian: Ethical funds fail to tackle climate change

As Tony Levene reports, many just target mainstream stocks

Tony Levene The Guardian, Saturday February 9 2008

Ethical funds stand accused of ignoring climate change concerns – with many socially responsible vehicles offering little more than mainstream stocks with the most morally objectionable companies screened out.

According to IFA Holden & Partners, which specialises in SRI funds, “a closer look at SRI funds shows many invest in large companies which are far from cutting edge in terms of providing climate change solutions”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
%d bloggers like this: