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Posts on ‘July 12th, 2010’

BP shores up its defences to resist US swoop

Daily Telegraph: For conspiracy theorists, this has always been the end game. A catastrophic oil spill. A political pummelling from President Barack Obama. And then, when BP is suitably softened up, a swoop from Exxon with a £100bn bid, providing an American solution to a very British problem.

…any move by an American predator for BP would be political dynamite…

By Helia Ebrahimi
Published: 9:01PM BST 11 Jul 2010

The theory is so seductive that it has seeped through Washington ever since it became clear just how damaging the Gulf of Mexico spill was going be to what was, back in April, Britain’s biggest company.

How could Exxon, or indeed its smaller US rival, Chevron, resist? Here was one of their biggest competitors in meltdown, its value almost halving in a matter of months and the reputation of its chief executive Tony Hayward as ruined as the Deepwater Horizon rig. 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.

Exxon given the nod for £100bn BP takeover

By Daily Mail Reporter
Last updated at 8:43 AM on 12th July 2010

Takeover plans: Oil giant Exxon have been given the nod by Washington to mount a £100billion bid for BP

Oil giant Exxon has been given clearance by Washington to mount a £100billion bid for BP as the embattled British company undertakes a high-stakes gamble to cap the Gulf of Mexico spill.

The U.S. government has told Exxon that it will not stand in its way if it chooses to attempt a takeover.

Sources said the American oil group – which was responsible for the world’s biggest oil spill until the disaster in the Gulf – had expressed a ‘serious interest’ in the deal. 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 builds defence in takeover threat

Daily Telegraph: Speculation grows that ExxonMobil sought White House clearance to bid for rival oil giant.

By Helia Ebrahimi
Published: 7:29AM BST 12 Jul 2010

BP is gearing up to unveil a $40bn (£26.5bn) defence strategy in the teeth of growing speculation that US predators have been given the green light by Washington to swoop on the British company.

BP will outline what will effectively be a defence document at its second quarter results on 27 July. Although no approach has been made, ExxonMobil of the US is understood to have sought clearance from the White House for a bid that could create a $400bn global juggernaut. 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.

Government washes its hands of BP takeover

The Independent

Monday, 12 July 2010

By James Moore, Deputy Business Editor

BP will not be able to rely on support from the British Government if it is the target of a takeover bid, it emerged yesterday, as rivals considered whether to take a tilt at the embattled oil company. A spokesman for the Department for Business, Innovation and Skills (DBIS) declined to comment on reports that the US oil major Exxon, has been in contact with the Obama administration over a possible bid for its beleaguered FTSE 100-listed rival. But a spokeswoman for the DBIS said: “Takeovers and mergers are commercial matters for 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.

Motiva Shutting Part of Port Arthur Refinery for Repairs to Gasoline Unit

Bloomberg

By Timothy Coulter – Jul 11, 2010

Motiva Enterprises LLC is curtailing operations at its Port Arthur, Texas, refinery, because of a leak tied to part of the main gasoline producing unit.

The waste heat boiler at the fluid catalytic cracking unit sprung a leak, the company said in a filing with the Texas Commission on Environmental Quality.

“In order to prevent an emergency shut down with subsequent emissions, a plan is in place to conduct an orderly shutdown,” according to the filing. Repairs will begin tomorrow, the filing shows. 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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