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Posts on ‘July 20th, 2010’

BP announces asset sales

REUTERS

By Anna Driver and Matt Spetalnick

Tue Jul 20, 2010 5:24pm EDT

HOUSTON/WASHINGTON (Reuters) – British energy giant BP Plc said on Tuesday it reached a $7 billion deal with Apache Corp as part of a series of asset sales to raise money to pay for the worst oil spill in U.S. history.

BP said Apache would pay a $5 billion cash deposit on July 30 as part of the deal for upstream assets in North America and Egypt. The company said the deal, worth a total of $7 billion, would include Permian Basin assets in New Mexico, natural gas in western Canada and concessions in Egypt. 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.

Former Interior Secretary: Attitude of ‘Mutual Problem Solving’ With Oil Industry Under Bush

The Washington Independent

By Andrew Restuccia 7/20/10 12:52 PM

Former Interior Department Secretary Gale Norton told a congressional panel today that the department, under her tenure, saw its relationship with the oil industry when permitting and licensing offshore drilling projects as one “of mutual problem solving.”

Norton’s remarks came during a House Energy & Commerce Committee joint-subcommittee hearing on the Interior Department’s involvement in the Deepwater Horizon oil spill. Norton, who served as Interior secretary from 2001 to 2006 under President Bush, took a job with Royal Dutch Shell after resigning, leading to a Department of Justice probe. 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.

Alaskan Eskimos say oil drilling threatens way of life

BBC NEWS

“The Gulf of Mexico may have been a wake-up call for some but not for Shell,” says Pete Slaiby, vice-president of Shell Alaska.

Barrow’s Inuit blanket toss in action

Indigenous Eskimos living on the edge of the Arctic Ocean fear new oil drilling could destroy their unique way of life, but many Alaskans believe the Arctic’s energy reserves could be economically and politically important. The BBC’s Rajesh Mirchandani visited the Arctic town of Barrow during a traditional spring whale-hunting festival. 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.

Oil Sands Rising as BP Spill Casts Palls Over Future of Deepwater Drilling

Bloomberg

By Irene Shen and Matt Walcoff – Jul 20, 2010

Suncor Energy Inc. and Canadian Natural Resources Ltd., two of the largest oil-sands producers, rank among the biggest winners as a U.S. halt on new Gulf of Mexico drilling leads investors to alternative crude sources.

Canadian energy stocks are drawing the highest premium since 2005. Standard & Poor’s/TSX Energy Index of Canadian stocks now trades for 32.1 times reported profit from the past year, more than twice as much as fuel producers in the MSCI World Index, the benchmark for equities in 24 developed markets. 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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