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Posts on ‘June 25th, 2010’

Oil Companies Stock Up On Cash Ahead Of An Uncertain Future

THE WALL STREET JOURNAL

JUNE 25, 2010

By Chris Dieterich Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)–Oil giants are ramping up their borrowing, braving higher interest rates in order to lock down funding as a hedge against further turmoil in their industry or in credit markets, traders and analysts said.

Facing possible further legislative or market turmoil from the ramifications of BP PLC’s (BP, BP.LN) efforts to deal with an oil spill in the Gulf of Mexico and the need to refinance current bond offerings when they come due later this year, companies in the energy sector are trying to get their balance sheets in order now in case credit markets tighten further in the future. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

BP oil spill: shares slump further as hurricane fears rise

Telegraph.co.uk: BP shares slumped to their lowest level in 14 years on Friday on concerns that a hurricane next week could worsen the impact of the spill as it hampers clean-up work.

Published: 25 Jun 2010

The shares were down more than 7pc at just over 300p in early trading and have now fallen more than 50pc since BP’s well in the Gulf of Mexico ruptured 67 days ago, creating the biggest oil spill in US history.

Shares in BP, which has lost its status as Europe’s largest oil company, have fallen as the company’s efforts to prevent the oil gushing from the well consistently fail.

Added to investors’ existing fears over the cost of the clean-up and potential liabilities, is the prospect of the first tropical storm of the Atlantic hurricane season forming this weekend. A collection of thunderstorms was intensifying in the Caribbean off Honduras and Nicaragua, the US National Hurricane Center said late last night. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Garage card scammer jailed

TheRegister

35,000 card details snaffled

By John Oates 23rd June 2010 12:37 GMT

Theogenes De Montford, 29, of Blandford Way, Hayes has been sentenced to four and a half years for his role in one of the UK’s biggest chip and pin scams.

The gang put card cloning equipment on pin entry handsets at petrol stations around the country.

De Montford was caught with 35,000 card details when arrested.

An amazing 7,000 of these came from one garage – a Shell garage on Bluebell Hill in Maidstone, Kent.

A spokesman for Shell UK said the impact of all card fraud, not just this gang’s, resulted in a 25 per cent drop in its business. Actual losses worked out at £725,000 between January and September, PA reports. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

UAE wants Shell for Shah after Conoco exit-sources

DUBAI, June 23 (Reuters) - The United Arab Emirates' would like Royal Dutch Shell (RDSa.L) to step in as its partner at the $10 billion Shah gas project after U.S. major ConocoPhillips (COP.N) withdrew, industry sources in the UAE said on Wednesday.

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Global gas demand to rise 25 pct by 2020 -Shell exec

REUTERS

June 24 (Reuters) – Global gas demand is still set to increase by one quarter by 2020, despite uncertainty about the recovery of industrial demand for the cleanest-burning hydrocarbon, a Royal Dutch Shell (RDSa.L) executive said on Thursday.

“Gas industry conditions remain tough. The recovery is still fragile,” De la Rey Venter, Shell’s global head of liquefied natural gas (LNG), told the National Oil Companies Congress in London.

“(But) global gas demand will rise by one quarter by 2020… Of all primary sources of energy, natural gas is clearly the most attractive hydrocarbon.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell: Saudi Arabia May Benefit From LNG Imports

THE WALL STREET JOURNAL

JUNE 24, 2010

LONDON (Dow Jones)–Saudi Arabia, the world’s largest energy producer, may benefit from importing liquefied natural gas to boost domestic supply and maximize profits from oil exports, a Royal Dutch Shell PLC (RDSB) executive said Thursday.

“In an environment where much crude and fuel oil is being burnt up for power, there’s a strong case to bring in more gas and free up some of that [oil] for export,” De la Rey Venter, Shell’s global head of LNG, said at the National Oil Companies congress in London. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Before Rig Explosion in Gulf, Scant Difference Between BP and Other Drillers on Safety

By MIKE SORAGHAN of Greenwire Published: June 24, 2010

To look at the safety records of the offshore drilling companies before the Deepwater Horizon rig exploded and sank on April 20, there was little difference between BP America Inc. and its peers in the deep waters of the Gulf of Mexico.

According to a Greenwire analysis of Interior Department records, BP ranked a close third in penalties for safety violations. And statistics compiled on injuries and fires show that BP’s records were comparable to those of other deepwater drilling companies. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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