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Posts on ‘October 31st, 2009’

BP CEO Tony Hayward rules out mega merger with Shell

The Sunday Times

November 1, 2009

The era of the oil industry mega merger is over, according to the chief executive of BP.

Tony Hayward said that there is “no industrial logic at all” to the type of big-ticket takeovers that transformed the industry a decade ago. The industry will be defined instead by partnerships between the big companies and the new generation of state-owned rivals and governments of resource-rich countries.

“We need access to new resources and we need access to new customers. Combining with another oil giant gives us neither,” he said in an interview with The Sunday Times. read more

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News on Shell Ormen Lange reserves undoubtedly negative

LONDON (Dow Jones)--The Norwegian Petroleum Directorate Friday said a new well drilled at Ormen Lange indicates the gas field's resources could be lower than previously hoped.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

BP fined record $87m for safety lapses at Texas refinery

BP was dealt a bitter blow last night when American regulators fined the oil group a record $87 million (£53 million) for more than 700 safety violations at the Texas refinery where an explosion killed 15 people and injured 170 in 2005.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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