Dec 1st, 2008
by John Donovan.

Shell dropped 5.3 percent to 1,646 pence. BP, Europes second-largest oil company, slid 5.8 percent to 496 pence. Eni SpA, Italys biggest, lost 7.2 percent to 16.46 euros.
Crude oil for January delivery fell as much as 8.5 percent to $49.52 a barrel in New York after the Organization of Petroleum Exporting Countries deferred a decision to reduce output for another two weeks.
Slowing global growth means demand will be much lower than expected a month ago, OPEC said after the groups Nov. 29 meeting in Cairo. Another cut on Dec. 17 may not be needed if member states enacted 80 percent of the 1.5 million barrel-a-day reduction agreed in October, Al Hayat reported, citing Saudi Arabias Oil Minister Ali al-Naimi. read more
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Dec 1st, 2008
by John Donovan.
Dec 1st, 2008
by John Donovan.
Shell has exited the Ethiopian fuel market after finalizing a purchase and sale agreement with Libya Oil Holding, according to Petrol Plaza.
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Dec 1st, 2008
by John Donovan.
At the current price, oil developments everywhere are being curtailed or shut down. Royal Dutch Shell last week announced it's yanking its application to build the 100,000-barrel-a-day Carmon Creek oil sands project in northwestern Alberta.
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Dec 1st, 2008
by John Donovan.

TNK-BP, half owned by oil major BP (BP.L: Quote, Profile, Research,Stock Buzz), has become the first oil producer to cut its staff, the daily says reporting on sacking of 390 managers in the head office in Moscow. (ROSSIISKAYA GAZETA)
REUTERS ARTICLE
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Dec 1st, 2008
by John Donovan.

Royal Dutch Shell Plc (RDSA LN): Europes largest oil producer last year suffered more workforce deaths than any other large western oil company, the Financial Times reported, citing figures the newspaper compiled from company reports. Shell advanced 5 pence, or 0.3 percent, to 1738 pence.
BLOOMBERG ARTICLE
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Dec 1st, 2008
by John Donovan.
LEEDS City Council is partnering with the UK Business Council for Sustainable Energy (UKBCSE) and Shell UK to hold a climate change debate today.
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Dec 1st, 2008
by John Donovan.
Early next year, Royal Dutch Shell PLC faces a similar case in New York federal court stemming from the 1995 death of Ken Saro-Wiwa, an activist in oil-rich coastal Nigeria critical of the oil industry's environmental impacts. Shell has denied to an oil-industry publication that it was complicit and called the allegation "false and without merit."
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Dec 1st, 2008
by John Donovan.
This agreement is a nice example of Shell's approach to collaboration with Chinese institutes to find and demonstrate an alternative way to convert coal into fuels, said Shell chief technology officer Jan van der Eijk.
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Dec 1st, 2008
by John Donovan.
Last week Shell and service player Amec were each fined £150,000 ($230,000) after an Amec worker died during operations at Clipper. An inspector with the UK's Health & Safety Executive said in a report accident had been caused by the two companies failing to manage well-known and readily foreseeable hazards, and said that, had adequate risk assessments been carried out, the accident could have been avoided.
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Dec 1st, 2008
by John Donovan.
Shell said: "We are deeply saddened by these losses. Of these fatalities, 17 happened in our upstream business, mainly on the roads, or at high-risk locations like Nigeria, where two lives were lost due to assaults and a third died as a result of a fire caused by criminals stealing oil from a pipeline."
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Dec 1st, 2008
by John Donovan.
Shell says it is launching a pilot program that could eliminate nearly half of the carbon dioxide output of a key plant in its Canadian oil sands operations.
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Dec 1st, 2008
by John Donovan.
Producers such as Royal Dutch Shell Plc are cutting back plans to develop deposits like Canadian oil sands. Shell indefinitely postponed the second-phase expansion of its Athabasca project because of rising construction costs. Shell, based in The Hague, also delayed seeking regulatory approval for Carmon Creek. Higher cost plans require $80-a-barrel oil to be profitable, according to Merrill Lynch.
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