About 700 former Southern Petroleum shareholders are seeking tens of millions of dollars from oil giant Shell in New Zealand's longest running insider trading case.
May 25th, 2008:
Claims of insider trading ‘ill-advised’
Aramco sets global strategy
The reformed board now includes James Kinnear, former Texaco president and CEO, Mark Moody-Stuart, former chairman of Royal Dutch Shell Group...
Slick investors strike riches as they cash in on peak oil
Retail investors have joined a raft of hedge funds and pension funds in making millions of pounds by cashing in on the oil crisis.
Record £13 billion in City bonuses
Mervyn King, the Bank of England Governor, has criticised the City's bonus culture...
$100-plus oil will be here for years as China motors ahead
While the price of oil for delivery now (the so-called "spot price") is at a record high, prices on the futures market - for delivery in several years' time - are even higher.
Oil: A global crisis
The invasion of Iraq by Britain and the US has trebled the price of oil, according to a leading expert, costing the world a staggering $6 trillion in higher energy prices alone. Goldman Sachs predicted last week that the price could rise to an unprecedented $200 a barrel over the next year, and the world is coming to terms with the idea that the age of cheap oil has ended, with far-reaching repercussions on their activities.
HSBC investors to revolt on pay and strategy
Last week, almost half of Royal Dutch Shell's investors refused to approve its remuneration report because of concern about retention bonuses for three directors, while almost 40 per cent of shareholders in GlaxoSmithKline also abstained or voted against its report for the same reason.
Russia: giant of a new economic world order
Last week, BP's Moscow offices were raided again and both it and Shell have experienced problems with their oil joint ventures there. But, says Shaftan, the key factor is that the regime is both 'stable and predictable'. While not everyone may agree with the way Putin operates or the role of state-controlled resource companies, Shaftan says everyone should know the state of play. 'If you listen and abide by the rules, you are fine.'
Green business boom is set to face trial by economic downturn
There was a nervy response to Shell's decision this month to pull out of the giant London Array wind farm, although the company insisted it was a business decision and not down to dwindling interest in renewable energy.
Fuel Price Protesters
Theres an internet campaign to boycott Big Oil Shell and BP but theres no evidence it is having much effect. The British dont seem to be angry enough.
Retention bonuses
In the past week we have seen Royal Dutch Shell, the oil giant, face down a barrage of investor criticism over the award to three executives of one-off bonuses worth ¤1m (£797,000) to ensure they remain with the company.
Intriguing £3 million gift/bonus for Prince Andrew
Kazakh wealth comes from reserves of oil, gas and minerals. Britain is the third-largest foreign investor, with British Gas, Shell and BP among members of a Caspian Sea consortium exploring the Kashagan field, thought to contain 1.5 times the reserves of the North Sea.