Nov. 28 (Bloomberg) -- Nigeria LNG Ltd. declared force majeure on cargo deliveries after Shell Petroleum Development Co. shut the Soku gas plant in the southern delta to repair damage caused by thieves.
Posts on ‘November 28th, 2008’
Nigeria LNG Declares Force Majeure as Soku Plant Shut
Oil slump hamstrings Shell, Irving projects
The slump in crude oil prices is putting more development projects on ice. Shell today withdrew its application to build a 100,000 barrels daily oil sands mining project near Peace River in Northern Alberta. Last week Shell delayed expansion of its existing tar sands operation
Shell Alaska debates appeal to Beaufort Sea drilling delay
FAIRBANKS The head of Shell Alaska said the oil giant might appeal a recent court ruling that has indefinitely delayed plans to drill exploratory wells in the Beaufort Sea during 2009.
Oil falls below $54 ahead of OPEC meeting
SINGAPORE (Reuters) - Oil fell below $54 a barrel on Friday, on course to end the month down more than 20 percent, as OPEC ministers prepared to meet in Cairo to discuss potential further supply cuts as the global economic slowdown crimps oil demand.
TNK-BP cuts staff, sees risks at $50 oil
MOSCOW (Reuters) - Russia's TNK-BP, half-owned by oil major BP is cutting downstream business staff at its head office and expects oil production to suffer if oil prices do not recover in 2009, a company executive said on Thursday.
Want to do business in Kazakhstan? Learn Kazakh
U.S. oil group Chevron developing Kazakhstan's biggest oil deposit, said on Friday it had received a note from the authorities accusing it of neglecting Kazakh as a language of business communication.
OPEC to Discuss Another Round of Production Cuts
Having failed twice in two months to calm plunging oil markets, OPEC ministers are set to weigh another round of steep production cuts as the world's economic travails continue to drive crude prices to levels unseen in years.
Shell stall plans amid slump in prices
Royal Dutch Shell PLC said yesterday that it has withdrawn an application to build its 100,000-barrel-a-day Carmon Creek oil sands project, near Peace River in northwest Alberta. The company will now seek to reduce the costs of development before it goes back to regulators.
Shell delays Carmon Creek oil-sands development in Canada
By Howard Mustoe
Nov. 28 (Bloomberg) — Dutch Shell Plc (RDSA LN): Europes largest oil producer delayed seeking regulatory approval for its Carmon Creek oil-sands development in Canada, the second project the company has slowed as crude prices slide. Shell rose 55 pence, or 3.3 percent, to 1,733 pence.
Idemitsu, Showa Shell to Cut Oil Refining on Demand (Update2)
Nov. 28 (Bloomberg) -- Idemitsu Kosan Co., Japans second- largest oil refiner, and Showa Shell Sekiyu K.K. will cut crude oil processing in the quarter ending Dec. 31 as the nations demand for gasoline and other petroleum products declines.