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Posts on ‘July 16th, 2010’

Gazprom, Shell Sakhalin Gas Venture Reports Unexpected Profit

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July 16 (Bloomberg) — OAO Gazprom and Royal Dutch Shell Plc’s Sakhalin-2 venture in Russia posted an unexpected profit last year after oil and liquefied natural gas shipments beat targets to offset losses from a delay in the project.

The partners had estimated a loss because a delay in the start of LNG output forced them to compensate customers for contracted volumes, two people familiar with the results said, declining to be identified in line with company policy. The Yuzhno-Sakhalinsk, Sakhalin Island-based venture doesn’t report financial results. Sakhalin is off Russia’s far eastern coast. 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, Shell and the Design of Deep Wells

THE NEW YORK TIMES

July 15, 2010, 5:31 pm

By ANDREW C. REVKIN

You’ve doubtless heard that BP has, on the 87th day of the oil gusher and in its 10th try, apparently stopped the flow of oil from its Macondo well (the current stoppage is a test of the new system). That’s great news, of course, presuming the tests show that the well, from top to bottom, can hold the immense pressure of the gas and oil still pressing upward from deep in the earth. Otherwise, the process could lead to new leaks beneath the seabed, just as turning off the nozzle on a damaged garden hose causes leaks to spring elsewhere. 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 Asset Buyers May Face Lawsuits

Apache Corp. may agree to pay $10 billion to $11 billion in cash next week for some of BP’s Alaskan assets, according to people familiar with the deal. Exxon Mobil Corp., Royal Dutch Shell Plc and Tullow Oil Plc have also said they may be interested in buying some of BP’s properties. Laws prohibiting fraudulent transfers could allow victims to sue a buyer to recover money deemed essential to pay claims, and successor liability could leave a purchaser with BP’s obligations, if BP files for bankruptcy.

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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