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Posts on ‘May 21st, 2008’

Shell says end to Nigerian rift is near

Royal Dutch Shell has said it is close to resolving a dispute over funding the group's Nigerian joint venture, Shell Petroleum Development Company (SPDC). Nigeria has already reached agreement with two of its five other joint venture partners in the Niger Delta - Total of France and ExxonMobil of the US - to try to end a cash crisis that has cut production from the world's eighth-biggest oil exporter.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

It may be the mother of all doom and gloom gas price predictions: $12 for a gallon of gas is “inevitable.”

“The prices that we’re paying at the pump today are, I think, going to be ‘the good old days,’ because others who watch this very closely forecast that we’re going to be hitting $12 and $15 per gallon,” Hirsch said. “And then, after that, when oil – world oil production goes into decline, we’re going to talk about rationing. In other words, not only are we going to be paying high prices and have considerable economic problems, but in addition to that, we’re not going to be able to get the fuel when we want it.”

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Stocks tumble on $134 oil

Wall Street pitched lower for the second straight session Wednesday as record-high oil prices and a bleak economic assessment from the Federal Reserve deepened investors' worry that Americans may face several more months of rising costs and a shaky employment picture.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Big companies rue loss of ‘easy oil’

Never have so many oil and gas companies spent so much to produce so little. That's the challenge facing Exxon Mobil, Royal Dutch Shell, BP, Chevron, Total SA and ConocoPhillips, which will spend a record US$98.7 billion ($127.41 billion) this year on exploration and production, Lehman Brothers Holdings estimates.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil companies ask Congress to allow more US exploration, reduce supply

John Hofmeister, president of Shell Oil, said his company and others are prohibited from exploring for more energy resources in the majority of US lands and offshore, and prohibited from even analyzing potential resources in several areas. 'The cumulative effect of these policies has been to discourage US investment and send US companies outside the United States to produce new supplies,' Hofmeister said. 'As a result, US production has declined so much that nearly 60 percent of daily consumption comes from foreign sources.'

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell’s “Golden Handcuffs” plan: Former Shell Exec Paddy Briggs, calls for the resignation of Shell Director Sir Peter Job

The bonuses are designed to keep the three executives (Malcolm Brinded, Linda Cook and Peter Voser) in the company, but, Job assured us, they are all uber-loyal to Shell and have no intention of leaving. Hmmm! Work that one out!

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil for 2016 Delivery Passes $141 on Supply Concern

Oil prices are heading to more than $141 a barrel in the next eight years, according to futures contracts on the New York Mercantile Exchange, on concern that growth in supply may fail to keep pace with rising demand.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Oil faces £970m grab by Nigeria

Nigeria's president has ordered its state oil company to claw back $1.9bn (£970.8m) in revenue and taxes it says it is owed by local units of Royal Dutch Shell and Exxon Mobil.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell revolt over ‘golden handcuff’ bonuses

Royal Dutch Shell has suffered a humiliating shareholder revolt at its annual meeting over a 'golden handcuffs' executive share award.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell ups Nigeria crude output; force majeure stays

LONDON, May 21 (Reuters) - Royal Dutch Shell has been restoring some of its shut-in output in Nigeria but a force majeure remains in place for Bonny Light exports, a company spokesman said on Wednesday.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell rocked by investor revolt

Royal Dutch Shell yesterday faced an investor revolt at its annual meeting when just under half of voting shareholders failed to back a plan to award three executives €1m (£795,000) bonuses to stay in their jobs.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell investors stage largest rebellion over retention pay

The rebellion at Shell, though the biggest so far, was not enough to stall the plan. The company also faced criticism and a smaller rebellion on its wider bonus policy, echoing a trend among shareholders in Dutch multinationals to criticise generous executive bonus schemes.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shortage fears push oil futures near $140 up more than $9.50 on the day

Fears of a shortage within five years propelled long-term oil futures prices to almost $140 a barrel on Tuesday, further stoking inflationary pressures in the global economy. Veteran traders said they had never seen such a jump and said investors were increasingly betting that oil production would soon peak because of geopolitical and geological constraints.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Russian agents raid BP office in Moscow

Royal Dutch Shell’s plan to award three executives was yesterday rejected by investors at its annual meeting. One-third of Shell shareholders who voted opposed the bonus scheme. When added to those who withheld their votes, 49.5 per cent of voting shareholders did not support the bonuses.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Niger Delta: Shell loses $4.6 million per day to oil thieves

The Shell Petroleum Development Company of Nigeria has lost a whooping N69.959billion, approximately $595,286,960 to crude oil theft within the last 139 days in the Niger Delta.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell ‘selling suicide’ by preferring tar sands to wind

Shell was accused yesterday of "selling suicide on the forecourt" by pressing ahead with tar sands operations in Canada and continuing to flare off excess gas in Nigeria while pulling out of renewable schemes such as the London Array - the world's largest offshore wind scheme.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Sprint Past $129 even though market awash with Oil

...traders dealing with physical cargos of crude tell a different story. They see a spot market so awash with oil that some producers, such as Iran, are starting to horde it in hopes that greater demand will lift spot prices as well.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Nigeria Confronts Shell, Exxon

The Nigerian government is demanding $1.91 billion from Royal Dutch ShellPLC and Exxon Mobil Corp. as it reviews contracts governing growing offshore energy production, a spokesman for the country's president said Tuesday.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

About 50% of Shell Shareholders Fail to Back Bonus, FT Says

May 20 (Bloomberg) -- Just less than half of Royal Dutch Shell Plc's voting shareholders failed to back a plan to award three executives bonuses of 1 million euros ($1.57 million) each to stay in their jobs, the Financial Times reported.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell: Will a new boss be content with a Dutch treat?

It is a tough choice for Shell's bosses. Jeroen van der Veer, the Shell chief, will no doubt suffer with good grace the requirement to share his retirement bonus and pension with his fellow Dutchmen.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Potential for BHP Billiton and Shell to finally resolve the Woodside question

...there is also a chance it’s the beginning of the end of a game that started several years ago when takeover moves by Shell for Woodside were knocked back on the grounds of Australian national interest. It was that government action in thwarting Shell which sparked earlier speculation that a big asset-swap could resolve the issue, with Shell selling its controlling 34% to BHP Billiton in exchange for other assets or cash.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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