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Posts on ‘February 20th, 2008’

Financial Times: Demand fuels oil industry confidence

By Sheila McNulty in Houston
Published: February 21 2008

At last week’s annual gathering of global oil industry executives and academics at the Cambridge Energy Research Associates conference in Houston, Texas, climate change and energy security were on the agenda. A US recession was not.

The surge in commodity prices to record levels in recent years has left the leading oil companies flush with cash, which they intend to continue spending.

We are making investments for a long period of time. It doesn’t alter our investment programme,”’ says Jim Mulva, chief executive of ConocoPhillips. Meanwhile, Linda Cook, Royal Dutch Shell’s executive director of gas and power, says Shell would only be affected by a recession if it was so broad that it spilled into the global economy. read more

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InterFax: New Rosprirodnadzor chief plans to dismiss Mitvol – source

Feb 20 2008 3:21PM

MOSCOW. Feb 20 (Interfax) – Top officials at Russian national resource watchdog Rosprirodnadzor are preparing a submission in Natural Resources Minister Yury Trutnev’s name on dismissing the deputy head of Rosprirodnadzor, Oleg Mitvol, a source in the agency told Interfax.

The submission is being prepared for the signature of the new head of Rosprirodnadzor, Vladimir Kirillov. jh

(Our editorial staff can be reached at [email protected])

http://www.interfax.ru/e/B/finances/26.html?id_issue=11973585 read more

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Submission to Irish Environmental Protection Agency: 1 May 2007

OH Doc No. 30
Recd From: Aron Baker
Date Recd: 1/5/07

Submission to EPA

Aron Baker

Submission to oral hearing on the granting of IPCC license to Shell

According to the EPA Inspectors Report License application, part 9, Royal Dutch / Shell Group of Companies and SEPIL here after referred to as “Shell”, are a fit and proper person with no relevant convictions.

I have reason to believe that this is not fully accurate.

They have many related convictions, out of court settlements, pending court matters, as well as much well documented and lesser documented accidents, incidents, spills and environmental damage. read more

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Houston Chronicle: Shell to restart Deer Park catalytic cracker next week

Bloomberg News
Feb. 20, 2008, 1:02PM

Shell said a gasoline-making fluid catalytic cracking unit at the company’s Deer Park, refinery is scheduled to resume operation late next week after maintenance.

Dave McKinney, a company spokesman, commented on the refinery in an e-mail today. Shell said Jan. 17 it was shutting the unit, along with a hydrotreater, alkylation unit and three sulfur recovery plants, for repairs.

U.S. gasoline prices have increased as refineries took units out of service for repairs. The average pump price for regular gasoline was $3.053 a gallon yesterday, the highest since Jan. 15, according to AAA, the nation’s largest motoring club. read more

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Reuters: Shell scales back proposed Arctic drilling plan

Wed Feb 20, 2008 12:16pm EST 
By Yereth Rosen

ANCHORAGE, Alaska (Reuters) – Royal Dutch Shell has offered to scale back its oil drilling plans in the Beaufort Sea in order to win the lifting of an injunction against the activity, but the move is unlikely to placate opponents of the plans.

Alaska natives won a court order blocking Shell’s plan to drill in the Beaufort last summer, but the major is hopeful that it can persuade the Alaska native groups that led the legal challenge to drop their opposition. read more

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Seeking Alpha: Big Oil’s Big Problem: Time is Running Out

Posted on: February 20, 2008 | about stocks: DBO / OIL / PBR / PBW / PUW / USO / XOM

By “Echo To All”: Bio & more articles

Big Oil is having a hard time replenishing their reserves and Wall Street is concerned. The concern is obvious, but playing devil’s advocate, does it really matter?

The WSJ’s recent article on Exxon’s (XOM) lack of new reserves states that XOM will run out of oil in a generation. That is about 40 years or so.

The last, and most recent, big oil find is controlled by Petroleo Brasileiro (PBR). Where does this level the reset of the industry… other than crying that Peak Oil has arrived, and the easy life is slowing ending? IMO, Big Oil will be forced to reinvent themselves. They should not be viewed as Oil companies, but instead, they need to view themselves as Energy companies, and attack all aspets of Energy. read more

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THE NEW YORK TIMES: Supply Fears Push Oil to Triple Digits

New York Times Image

Bob Price/Associated Press: Plumes of smoke rise after an explosion at an Alon USA oil refinery in Big Spring, Texas on Monday, Feb. 18, 2008. The violent blast shook buildings miles away and injured at least four people, the mayor said.
 
By CLIFFORD KRAUSS
Published: February 20, 2008

HOUSTON — Crude oil closed above $100 a barrel for the first time Tuesday, vaulting through a longstanding psychological barrier amid persistent concern about whether production can keep up with rising global demand. read more

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The Calgary Herald: Big Oil struggles to maintain production

Calgary Herald image

Countries like Venezuela, which transports some of its crude on ships such as the Inka, have demanded more cash and control from companies working their oilfields, posing hurdles for energy majors trying to maintain production.
Presidencia, Agence France-Presse, Getty Images

Higher capital spending fails to boost output

Reuters: Published: Wednesday, February 20, 2008

The world’s three largest fully publicly traded oil firms are investing billions of dollars more, but there is little sign yet the extra spending is leading to higher production. read more

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Reuters: Shell’s Pernis labour talks to resume March 4

Wed Feb 20, 2008 9:05am EST

AMSTERDAM, Feb 20 (Reuters) – Negotiations over a labour agreement for workers at Royal Dutch Shell’s (RDSa.L: Quote, Profile, Research) Pernis refinery and Moerdijk plant in the Netherlands are set to resume on March 4, the company said on Wednesday.

The director of the workers’ union, Egbert Schellenberg, said he was fairly confident of achieving an agreement with the oil major at the meeting in March, after previous offers from the company were rejected by the union. read more

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BBC News: Delta rebels want ‘proof of life’

BBC News/ AFP image

The leaders of the militants keep their identities hidden

Wednesday, 20 February 2008, 14:19 GMT 

Militants in the oil rich Niger Delta have demanded the government prove one of their leaders is alive.

Nigerian President Umaru Yar’Adua denied claims Henry Okah died in police custody on Tuesday.

Lawyers, family members and doctors should be allowed to see him, the Movement for the Emancipation of the Niger Delta (Mend) said.

Mr Okah was extradited from Angola last week on gun-running charges, but he has not appeared in court yet. read more

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allAfrica.com: Nigeria: Oil Blocks – FG to Review PSC With Shell, Exxonmobil, Others

This Day (Lagos)
20 February 2008
Chika Amanze-Nwachuku And Fidelia Okwuonu
Abuja

The Federal Government yesterday gave more insight into the planned review of existing joint venture agreements with foreign oil companies, saying only the offshore Provision Sharing Contracts (PSCs) signed in 1993 would be revisited.

However, that of the Agbami oil field, operated by Chevron Nigeria Limited (CNL) will be excluded.
 
Fielding questions from newsmen at the International Conference Centre, Abuja, the venue of the ongoing 8th Nigerian Oil and Gas Conference, the Director of Petroleum Resources, Mr. Tony Chukwueke explained that the PSCs to be reviewed were principally those of offshore blocks signed in 1993, which have provisions in them that authorise the Federal Government to renegotiate them if the oil price exceeded $20 per barrel. read more

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RIA Novosti: Russia environment watchdog chief moves to sack outspoken deputy, Oleg Mitvol

14:06 | 20/ 02/ 2008 

MOSCOW, February 20 (RIA Novosti) – The newly appointed head of Russia’s environment watchdog, Vladimir Kirillov, has proposed firing his deputy Oleg Mitvol, a source in the federal service said.

Mitvol has overseen inspections of a series of leading Russian and foreign mining and hydrocarbon companies, and is known for radical moves such as ordering the demolition of cottages in a water-protection zone near Moscow.

“Head of the Federal Service for the Oversight of Natural Resources Vladimir Kirillov wrote a letter to Natural Resources Minister Yury Trutnev, requesting the dismissal of Oleg Mitvol,” the source said. read more

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allAfrica.com: Nigeria: ‘Shell Has Great Roles in Country’s Development’

Daily Champion (Lagos)
20 February 2008
Lagos

New Managing Director of Shell Petroleum Development Company (SPDC) Nigeria Limited, Mr. Mutiu Sunmonu recently spoke with journalists in Lagos on the company’s challenges in the country.

SOPURUCHI ONWUKA recorded the chat.

Excerpts:

THE journey to the top:
 
One thing I wouldn’t do is tell you how old I am. I will leave you to figure it out on your own.

I started my career in Shell in August 1978, here in Lagos and in Freeman House, after graduating from Unilag in 1977. I had a first class honours in mathematics. So I joined the computing section of the company. And really had quite a good time in Lagos. I was in Lagos till 1987 when I moved to Port Harcourt, spent two half years before going abroad in January 1990. I came back to Port Harcourt again in 1993 and headed the information technology (IT) services. In 1995, I became the IT Manager for the company. read more

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The Toronto Star: Shell may scale back Arctic drilling impacts

Feb 20, 2008 04:30 AM

Royal Dutch Shell PLC may use a single rig in the Beaufort Sea this year because of opposition from environmental groups to develop Arctic offshore oil fields.

Shell has scaled back an original plan to use two rigs, John Hofmeister, who heads the company’s U.S. unit, said in Anchorage, Alaska. Shell plans to drill exploration wells at the Sivulliq field, he said.

“Just as it is important to develop these resources it is important for us to build a relationship with the communities and stakeholders who have asked us to slow down and take a more measured approach,” Hofmeister said. read more

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THE WALLSTREET JOURNAL: Weakening Demand? Oil Still Passes $100

Wall Street Journal Chart

THE WALLSTREET JOURNAL: Weakening Demand? Oil Still Passes $100

By NEIL KING JR. and ANA CAMPOY
February 20, 2008; Page A3

Crude-oil prices finished slightly above $100 a barrel for the first time yesterday despite signs the world’s petroleum thirst may be subsiding.
 
The latest surge surprised many in the oil patch who have expected prices to head in the other direction as oil stockpiles increase and the U.S. experiences an economic slowdown, softening demand for energy. Higher prices put more pressure on the Organization of Petroleum Exporting Countries to keep supplies steady despite some calls within the cartel to cut output. read more

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RawStory.com: Oil shadows 100 dollars in Asian trade

Published: Wednesday February 20, 2008

World oil prices eased in Asian trade Wednesday but shadowed 100 dollars per barrel after peaking to fresh record levels overnight amid speculation OPEC will cut crude output, dealers said.

In afternoon trade, New York’s main contract, light sweet crude for delivery in March, was down 75 cents to 99.26 dollars per barrel.

The contract soared to an all-time intraday high of 100.10 dollars before closing up 4.51 dollars at a record 100.01 dollars on the New York Mercantile Exchange. 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

Seattle Post-Intelligencer: Under the Needle: Hybrids, meet your rival

Last updated February 19, 2008 11:52 p.m. PT
By MIKE LEWIS
P-I REPORTER

Finally something to wipe the smug off you hybrid owners, you high-mileage acolytes, you global-cooling zealots who wash your Priuses (Prii?) with graywater while wearing reclaimed plastic fleece and hemp undies.

Don’t choke on your organic soy-double-decaf-fair-trade-carbon-neutral macchiato, but how does 376.59 miles per gallon sound? Makes your Honda Civic hybrid look Hummeresque, doesn’t it?

That number doesn’t come from some manta ray-shaped, wind tunnel-vetted carbon fiber space car. No, it’s from a chop-top, steel-frame 1959 Opel T-1 (think melting jelly bean, but uglier). And the record was set in 1973 in a contest sponsored by Shell Oil Co. read more

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Bloomberg: Woodside May Approve Pluto Plant Expansion as LNG Demand Soars

By Angela Macdonald-Smith

Feb. 20 (Bloomberg) — Woodside Petroleum Ltd., the Australian oil and gas producer part-owned by Royal Dutch Shell Plc, may decide this year to expand its biggest liquefied natural gas project as prices and demand for the fuel soar.

Woodside aims by the year-end to approve Pluto 2, an addition to the A$12 billion ($11 billion) first-phase project tapping gas from fields off northwestern Australia, Chief Executive Officer Don Voelte said today on a conference call. The expansion may be followed in 2009 by approval of another project, Sunrise LNG, in the Timor Sea, the company said. read more

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Bloomberg: Japan Faces $3.5 Billion Increase in LNG Import Bill (Update3)

By Angela Macdonald-Smith and Shigeru Sato

Feb. 20 (Bloomberg) — Japanese importers of liquefied natural gas may have to pay an extra $3.5 billion to suppliers after fuel prices rose more than expected the past four years, said an official involved in the contract talks.

Tokyo Electric Power Co. set aside $371 million to cover the higher costs for the year ending March 31. Osaka Gas Co. spokesman Toru Kinukawa said the utility may owe money to suppliers. Australia’s North West Shelf LNG venture is negotiating higher prices with customers, operator Woodside Petroleum Ltd. said. read more

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Bloomberg: Woodside Profit Falls 28% on Loss on Mauritania Sale (Update2)

By Angela Macdonald-Smith

 Feb. 20 (Bloomberg) — Woodside Petroleum Ltd., Australia’s second-largest oil and gas producer, said full-year profit fell 28 percent on a loss from the sale of fields in Africa and higher exploration costs.

Net income dropped to A$1.03 billion ($948 million) in the year ended Dec. 31, from A$1.43 billion a year earlier, Perth- based Woodside said today in a statement. Profit before one-time items slid 15 percent to A$1.18 billion, compared with a A$1.2 billion median of 12 analyst estimates compiled by Bloomberg. read more

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Financial Times: Jakarta to seize gas field in Exxon dispute

By John Aglionby in Jakarta
Published: February 20 2008 00:16 | Last updated: February 20 2008 00:16

Indonesia on Tuesday said it would seize Asia’s largest undeveloped gas block from ExxonMobil and ask Pertamina, the state-owned energy group, to prepare a feasibility study to take over the field.

The latest move in a three-year dispute between Jakarta and the US energy group was made after talks with Exxon about the Natuna D-Alpha field became deadlocked over tax issues, the extension of a contract and how to split the gas, said Purnomo Yus­giantoro, Indonesia’s energy minister. read more

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Financial Times: Woodside optimistic on full-year production

By Peter Smith in Sydney
Published: February 20 2008 04:05 | Last updated: February 20 2008 08:06

Woodside Petroleum, Australia’s second-largest oil and gas producer, said 2008 full-year production would rise as much as 22 per cent, a figure which does not yet factor in fresh reserves from its US$399m purchase of Shell’s oil assets in the North West Shelf.

The production update came as the company, which is 34 per cent-owned by Royal Dutch Shell, reported a 28 per cent drop in full-year profit to A$1.03bn, after A$152m of losses relating to asset sales. Woodside last month warned it would incur a loss on the sale of its stake in the Chinguetti oil field in Mauritania. 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 Anchorage Daily News: Timing key to Chukchi fever

LEASES: Potential outweighs the risks as energy demand booms.

By ALAN BAILEY
Petroleum News

Published: February 17th, 2008 01:54 AM
Last Modified: February 17th, 2008 04:41 AM

The chips are on the table in the search for oil and gas under the remote Chukchi Sea, off Alaska’s northwest coast. But, with ice-laden water for many months of the year, a severe climate and no supporting infrastructure, why did oil companies place $2.66 billion in apparent winning bids in the U.S. Minerals Management Service’s lease sale this month?
 
Oil prices at $100 per barrel and an escalating worldwide oil demand certainly help.
read more

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The Anchorage Daily News: Shell says no Beaufort oil drilling in 2008

TOP-HOLE: Company wants to put in three shallow wells at Sivulliq.

By ALAN BAILEY and KAY CASHMAN
Petroleum News

Published: February 19th, 2008 12:58 AM
Last Modified: February 19th, 2008 01:09 AM

Even if the U.S. Court of Appeals gives Shell approval to drill oil exploration wells in Alaska’s Beaufort Sea this year, the company has decided not to do any “critical” drilling in 2008, Shell’s Alaska operations manager Susan Moore said.

The company’s spokesman in Alaska, Curtis Smith, said Shell’s decision was based on “the availability of drilling assets” combined with a response to “repeated requests that we take a measured approach to exploring the Alaska offshore.” read more

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KTUU.com: Shell president tours Alaska

KTUU.com image

The company could face problems with development in the Chukchi Sea because of a pending federal decision to consider Alaska’s polar bears threatened. (KTUU-TV)

by John Tracy
Monday, Feb. 18, 2008

ANCHORAGE, Alaska — With a major move earlier this month, Royal Dutch Shell PLC is quickly becoming a leader in Alaska for oil and gas exploration.    

Shell recently spent more than $2 billion acquiring some 275 leases in the Chukchi Sea.    

Those leases could face restrictions based upon the health of Alaska’s polar bears, now being considered for threatened status under the Endangered Species Act. read more

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