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Posts on ‘February 27th, 2008’

CNN.com: Exxon vs. Alaskans as high court takes on oil spill case

AFP/Getty image

Tugboats pull the Exxon Valdez off Bligh Reef in Alaska’s Prince William Sound on April 5, 1989.

WASHINGTON (CNN) — Nearly 20 years after one of the most infamous environmental disasters scarred Alaska’s Prince William Sound, the Supreme Court stepped nearer Wednesday to perhaps providing a measure of closure for the seemingly endless litigation over the Exxon Valdez oil spill.

The justices heard arguments on whether a $2.5 billion punitive damages award against the energy giant for its role in the 1989 maritime accident was excessive. 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

Times Online: New fraud risk for chip and PIN revealed

Times Online image

(David Cheskin)
A relatively simple procedure can program a chip and PIN terminal to steal PIN numbers

Jonathan Richards
‘Chip and PIN’ cards which require customers to enter a four-digit code before purchasing goods may not be as safe as previously thought, according to research.

February 27, 2008

Customers may unwittingly be handing over their card details and pin number when using the new terminals, which have been widely rolled out at supermarkets, service stations and other outlets, a group of computer security academics has claimed. 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

indymedia.org: Paddys Day of Action Against Shell

This year´s St Paddy´s day, 17th March, has been called as an International day of action against Shell, in solidarity with the people of Rossport.

People from all over Ireland are set to join forces and show their united strength by going all the way to London to demonstrate on Shell´s front door step.

Gluaiseacht, the Irish environmental network organising the trip, are calling for people to join them at the Shell head office in London, or there is also a call out to take solidarity actions at Shell garages and offices, St Paddy´s day parades and Irish embassies all over the world to coincide with the visit from 15th-17th March. 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

Seeking Alpha: Renewable Energy: Approaching Grid Parity?

February 27, 2008
Nick Hodge: Bio & more articles

I seem to remember an e-mail going around not too long ago about different politicians and oil CEOs “going into the confessional,” so to speak.

First up was ConocoPhillips (NYSE: COP) CEO Jim Mulva, who said he did not believe the global oil supply would ever surpass 100 million barrels per day because of production constraints and new laws limiting greenhouse gas emissions.

I love how Peak Oil can be cloaked in such nebulous terms as “production constraints.” 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

San Jose Mercury News: BP hints that it may offload green business

Associated Press
Article Launched: 02/27/2008 09:59:19 AM PST

LONDON – BP PLC Chief Executive Tony Hayward hinted on Wednesday that the oil company may offload part or all of its green business unit, reversing a central part of its previous strategy as he seeks to turn the company around.

Hayward, giving his first annual presentation to analysts since taking over from former CEO John Browne last May, also said that BP could be producing some 4.3 million barrels of oil equivalent a day by 2012. 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

Daily Telegraph: German lender accuses UBS of ‘defrauding’ (*Royal Dutch Shell CFO Peter Voser is a director of UBS)

By Katherine Griffiths, Financial Services Editor
Last Updated: 1:34am GMT 27/02/2008

UBS has been accused of defrauding a client which invested in a portfolio of collateralised debt obligations.

The latest news and analysis from the banking and financial services sector
HSH Nordbank, the German sector public lender, yesterday filed a writ against UBS in New York after saying at the beginning of the week it would sue. It hopes to win millions of dollars in damages from the Swiss banking giant.

HSH said it suffered losses on a $500m (£250m) portfolio of collateralised debt obligations linked to the US residential mortgage market. The portfolio was called North Street 2002-04 and the CDOs were structured, sold and managed by UBS. 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 Associated Press: Oil Spikes Above $102 a Barrel

Oil Spikes Above $102 a Barrel As Weakening Dollar Draws Investors to Commodities

Wednesday February 27, 12:53 pm ET
By Adam Schreck, AP Business Writer 

NEW YORK (AP) — Crude prices spiked above $102 a barrel for the first time Wednesday but retreated after the government said stockpiles of crude oil and gasoline rose far more than expected last week.
 
Prices nonetheless remained within range of Tuesday’s record close as the dollar tumbled to fresh lows against the euro and U.S. economic worries drove more money into energy futures as a hedge against inflation. 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

Financial Times: HSH lawsuit claims UBS ‘acted fraudulently’ (*Shell CFO Peter Voser is a director of UBS)

By James Wilson in Frankfurt
Published: February 27 2008 00:39 | Last updated: February 27 2008 00:39

HSH Nordbank says alleged “fraudulent acts and wilful breaches of duty” by UBS led to a $275m fall in the value of a portfolio of credit derivatives sold to it and managed by the Swiss bank, according to a lawsuit filed in the US.

The German public sector lender accuses UBS of deliberately selecting inferior collateral as part of a complex credit default swap, enabling UBS to profit from North Street 4, a collateralised debt obligation in which HSH invested. “UBS exploited the structure for its own ends, at HSH’s expense,” the lawsuit claims. 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

BBC TV: WATCHDOG: Loyalty schemes

18 February 2008 

EXTRACTS  

Making customers feel valued is one of the best tactics in the battle for our business. Whether it’s loyalty cards or freebies for signing up a friend, companies have all sorts of ways of grabbing your attention.

Charles Francis has been a member of Shell Driver’s Club for many years. He’s managed to accumulate 53,000 points on his loyalty card, the equivalent of £265 in Argos vouchers. Despite contacting Shell in June 2007 to redeem his vouchers, Charles has never received them. 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

Financial Times: US presidential candidates avoid energy debate

By Sheila McNulty in Houston
Published: February 27 2008 16:24 | Last updated: February 27 2008 16:24

When Houston invited the US presidential candidates to the world’s energy capital to debate energy issues, it should have expected they would dither.

Energy security and climate change are not only difficult issues to confront but will cost the consumer more. So it has been no surprise to energy executives that candidates are giving little time to energy in their campaigns – with most even rejecting participation in the energy debate – despite the importance of the issue to the next US presidency. 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 Associated Press: Court Could Limit Exxon Valdez Damages

By MARK SHERMAN
27 February 2008

WASHINGTON (AP) — The Supreme Court on Wednesday seemed inclined to reduce the $2.5 billion award of punitive damages to victims of the Exxon Valdez disaster.

Several justices indicated they think the amount approved by a federal appeals court is too high, although there was no apparent consensus about how much Exxon Mobil Corp. should have to pay for the 1989 accident in which its 987-foot tanker ran aground on a reef and dumped 11 million gallons of oil into Alaska waters. 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 Press Association: BP eyes performance boost

27 February 2008

BP chief executive Tony Hayward has said the oil major could pump four million barrels of oil a day until 2020, without the need for any fresh discoveries.

But the company expects to exceed this with one billion US dollars (£502 million) due to be spent this year on exploration as well as through access to new sources in Libya, Oman, Colombia and Canada, Mr Hayward told City analysts.

The company’s reserves currently stand at 17.8 billion barrels and the company expects to pump 4.3 million barrels a day by 2012, he added. 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

fool.com: Exxon Gets Its Days in Court

By David Lee Smith February 26, 2008

Most investors know that ExxonMobil (NYSE: XOM) is the world’s highest-valued company by market cap. But few likely appreciate the three-ring circus of litigation, legislation, and negotiation the company must currently endure.

For starters, Exxon’s embroiled in negotiations and other legal maneuvering relating to its pullout from Venezuela. Exxon left after the Chavez regime put the screws to the oil company and several competitors operating in the region, including Chevron (NYSE: CVX), Total (NYSE: TOT), and ConocoPhillips (NYSE: COP). Exxon is pursuing international arbitration, and it recently acquired court orders freezing as much as $12 billion in assets of PDVSA, Venezuela’s national oil company. 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

CNNMoney.com: High Court Could Lower $2.5 Billion Exxon Valdez Oil Spill Award

February 27, 2008: 12:37 PM EST

WASHINGTON -(Dow Jones)- The U.S. Supreme Court Wednesday was skeptical of Exxon Mobil Corp.’s (XOM) bid to overturn a $2.5 billion punitive damages award over the 1989 Valdez oil spill, but the justices indicated they may order the award be reduced.

At oral arguments the attorney for Exxon Mobil, Walter Dellinger, gained little traction for his arguments the award should be thrown out entirely. Instead, several justices indicated they were looking at applying a ratio of punitive damages to the compensatory damages fishermen harmed by the oil spill were awarded in the 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

Seeking Alpha: Why $100+ Oil is Here to Stay

posted on: February 26, 2008

Donald Dony: Bio & more articles

Over the last year, as oil has advanced from US $50 to $100, there have been countless academic papers on why the world’s most heavily traded commodity will likely not increase much above US $70 to $80. The main rationale? Alternative energy sources (e.g., coal, biofuels, wind, solar and uranium) will fill the gap and keep oil at a more comfortable level well below the infamous US $100 mark. While these resources can and will provide a slight buffer against the tsunami of global energy demand, our global economies are still too highly attached to fossil fuels and are not expected to shift soon. 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

gasworld.com: LNG opportunities offered by Shell

Shell logo

Shell is looking to increase its skill pool by recruiting US seafarers.

27 Feb 2008
Rob Cockerill
gasworld.com

Shell International Trading and Shipping Company Ltd. has announced that it will begin recruiting US seafarers for the company’s growing portfolio of managed international LNG vessels, providing fresh opportunities for US mariners and expanding the company’s already impressive skill pool.

One of the first major oil producers to actively recruit US seafarers for LNG vessels, Shell is committed to securing the most qualified seafarers for its maritime fleet operations and the effort supports the company’s increasing vessel management portfolio, which was extended in November 2006. 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

CNNMoney.com: BP Wants In On Gorgon,No Longer Looking To Sell Reserve Stake

February 26, 2008: 09:45 PM EST

MELBOURNE -(Dow Jones)- BP PLC (BP) said Wednesday it wants to be part of the Greater Gorgon liquefied natural gas development offshore Western Australia state, stepping pack from a previous proposal to sell its stake in the project’s gas reserves.

One option for the U.K. oil major, which doesn’t own an interest in the actual LNG project, is taking a stake in some of the infrastructure associated with the giant Gorgon development, said BP spokesman Peter Metcalfe. 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

Houston Chronicle: Alaska town sues energy firms over global warming

Feb. 26, 2008, 10:31PM
By DAN JOLING
Associated Press

ANCHORAGE, Alaska — A tiny Alaska village eroding into the Arctic Ocean sued two dozen oil, power and coal companies Tuesday, claiming that the large amounts of greenhouse gases they emit contribute to global warming that threatens the community’s existence.

The city of Kivalina and a federally recognized tribe, the Alaska Native village of Kivalina, sued Exxon Mobil Corp. and BP PLC, seven other oil companies, 14 power companies and one coal company in a lawsuit filed in federal court in San Francisco. 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: Nigeria Panel Upholds Vote For President

Wall Street Journal image

By CHIP CUMMINS
February 27, 2008; Page A9

A Nigerian special judicial tribunal threw out appeals by two opposition candidates seeking to overturn last year’s presidential election, possibly ending months of political uncertainty in Africa’s most populous country — one of the world’s biggest oil producers.
 
The ruling, announced yesterday, provides a measure of political stability for Nigerian President Umaru Yar’Adua, who won the top job in the West African nation in last spring’s voting. 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

International Herald Tribune: Oil hits a high; some in U.S. see $4 gas by spring: ‘An oil crisis is coming in the next 10 years’

By Jad Mouawad
Published: February 27, 2008

Gasoline prices, which for months lagged the big run-up in the price of oil, are suddenly rising quickly, with some experts fearing they could hit $4 a gallon by spring. Diesel is hitting new records daily and oil closed at an all-time high on Tuesday of $100.88 a barrel.

The increases could not come at a worse time for the economy. With growth slowing, high energy prices that were once easily absorbed by consumers are now more likely to act as a drag on household budgets, leaving people with less money to spend elsewhere. These costs could exacerbate the nation’s economic woes, piling a fresh energy shock on top of the turmoil in credit and housing. 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

Daily Telegraph: Hayward sets out BP’s direction

Last Updated: 1:06am GMT 27/02/2008

BP chief executive Tony Hayward will today set out the oil major’s future direction. The annual “strategy briefing” will provide him with another chance to stamp his mark on the company.

Investors will be watching this year’s briefing more closely than past events as the announcement will be a good guide to how Hayward intends to deliver on his promise to revive the company.

Why wasn’t the strategy set out during this month’s results announcement? 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
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