That attack ended with the sale of Shell's interests on Sakhalin Island -- at what appeared to be a considerably below-market price -- to mammoth Russian gas producer Gazprom.
June 13th, 2008:
Another Rough Russian Road
Nigeria: Federal Government Seeks More British Involvement in Resolution of N’ Delta Crises
"a situation where British oil giants, SHELL has continued to be the largest investor, explorer and owner in the oil industry in Nigeria with more than 50 per cent holdings, and yet they show little interest in the resolution of the crises there is unacceptable".
Obscene gas prices hurt consumers
Gas is getting so expensive that they have to conserve it or else cut into their budget somewhere else, like with food,"...
T. Boone Pickens thinks water is the new oil
If water is the new oil, T. Boone Pickens is a modern-day John D. Rockefeller. Pickens owns more water than any other individual in the U.S. and is looking to control even more.
ExxonMobil to sell 2,220 gas stations
The nation's largest oil company, which earned nearly $41 billion last year, says it will sell more than 2,000 stations over the next few years.
Oil Trades Above $136 as Nigerian Strike May Disrupt Supplies
Nigeria's state-owned oil company will take over operations in the southern Ogoni district from a Royal Dutch Shell Plc joint venture.
Out of Gas:Exxon to Exit Low-Profit Retail Pumps
Exxon Mobil Corp., purveyor of one of the most recognizable gasoline brands in the world, is getting out of the domestic retail gasoline business.
Demand Growth, Not Speculators, Behind Oil-Price Surge, U.K. Says
The recent rise in prices of oil and other commodities isn't being driven by speculation, but rather by supplies not keeping up with rising demand, the British government said.
U.S. Asks the U.K. to Set Limits on Oil Speculation
The Commodity Futures Trading Commission has been under increasing pressure by Congress to rein in speculation in the markets, which many believe has contributed to record-high oil and gasoline prices.
SEC considers shake-up of reporting rules
Reserves reporting, used as a key measure by investors for assessing a companys long-term financial prospects, has been hugely sensitive in the past. The 2004 revelation of misreporting of reserves by the Royal Dutch Shell group triggered official investigations and lawsuits. It cost executives their jobs and prompted a shake-up of the companys management structure.
Possible way out of a minefield
The deals to oust Royal Dutch Shell as the majority shareholder in the Sakhalin 2 project, and to displace TNK-BP from the Kovykta gas field, both favoured Gazprom. Signs of the changing attitude were apparent at the St Petersburg Economic Forum last weekend. One Russian government official said: "For BP, it is it the best scenario if Alfa sells out to Gazprom.
BP chairman’s last challenge
The new chairman is more likely to be someone with an oil industry background. One highly eligible candidate would be Paul Skinner , chairman of Rio Tinto. He knows the oil business inside out, having had a 40-year career at Shell, and is widely admired for his record at Rio.
Shell tanker driver strike goes ahead
Mr McCluskey said: Shells failure to intervene in this dispute means that Shells drivers have no alternative other than to go ahead with strike action, beginning on Friday June 13th 2008. This dispute could have been resolved if Shell had advanced a fraction of the billions of pounds in profit they make every month.
Nigeria moves to end oil conflict
Tensions have increased in parts of the Niger Delta in the past few weeks following a series of attacks on pipelines belonging to Royal Dutch Shell conducted by a militant group known as the Movement for the Emancipation of the Niger Delta.
BP ups stakes by accusing Putin of failing to stop hijack by oligarchs
The treatment of BP is seen as a bellwether of Kremlin attitudes to foreign investors, following the effective seizure of assets from Shell at Sakhalin after a long period of destabilisation.
Spoiling the barrel
Tiny printing on the inside cover of the document reveals a catch-all caveat. The information presented comes not from primary BP research but from "official sources and third-party data" and "does not necessarily represent BP's view of proved reserves by country". This astonishing get-out clause has been inserted in the BP review every year since Shell was caught lying about its reserves in 2004.
BP vents its frustration on Russian partners
BP chairman Peter Sutherland warned that unless President Dmitry Medvedev backed up his promises to restore "the rule of law", Western companies would likely turn their back on the country...
Rising oil prices are on a slippery slope to disaster
You might think that oil company executives would be gleeful about oil at $140 per barrel, but the mood in the corridors at Exxon, Shell and BP is gloomy. They are fearful of the future...
BP and Shell investing in Libya
BP will invest about $900 million exploring the Libyan coast for oil and gas opportunities and Royal Dutch Shell will spend up to $450 million to upgrade an existing liquid natural gas refinery.
Nigerian State Oil Company to Take Shell License
Nigerian National Petroleum Corp., the state oil company, will take over operations in the Ogoni district of southern Nigeria from a Royal Dutch Shell Plc joint venture in an effort to revive oil production, the country's president said.
Dominican Republic buys Shell’s share of refinery
NEW YORK (Associated Press) - The Dominican Republic has bought out Royal Dutch Shell PLC's share of a jointly owned oil refinery in a bid to stabilize fuel prices, the government said.