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Posts on ‘September 30th, 2010’

Total, Shell, Eni to End Iran Investments, U.S. Says

Bloomberg

By Flavia Krause-Jackson and Ali Sheikholeslami – Sep 30, 2010 6:30 PM GMT+0100

Total SA of France, Statoil ASA of Norway, Italy’s Eni SpA and the Netherlands’ Royal Dutch Shell Plc have “pledged to end their investments in Iran’s energy sector,” U.S. Deputy Secretary of State James Steinberg said.

Steinberg said the pledge means the companies are “eligible” to avoid U.S. sanctions. “These companies have provided assurances they will stop or are taking significant verifiable steps to stop their activity in Iran and have provided assurances not to undertake new energy-related activities in Iran that may be sanctionable,” he told reporters in Washington.

The U.S. also announced that it is imposing sanctions on an Iranian energy-trading company operating in Switzerland. The action was taken against Lausanne-based Naftiran Intertrade Co., also known as Nico. The company is involved in the trading of oil and refined products and seeks to invest in energy projects, according to its website. read more

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

Shell to Spend $40 Billion in Americas, Boost Output

Bloomberg

By Eduard Gismatullin – Sep 29, 2010 10

Royal Dutch Shell Plc, Europe’s biggest oil company, plans to invest about $40 billion in the Americas through 2014 to boost production by 40 percent.

Shell’s oil and gas output in the region may reach 1 million barrels of oil equivalent a day in the period, The Hague-based company said in a statement.

Operations in the Americas have the potential to generate over $10 billion in cash flow in 2012, Simon Henry, the chief financial officer at Shell, said in a video interview posted on the Internet. It’s “a very good position to be in, very much fits our global ambition for financial growth and the strategy to allocate more capital” to the Organization for Economic Cooperation and Development region. read more

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’s Tony Hayward: the right man in the right place at the wrong time?

Daily Telegraph

When BP became a sponsor of the US Olympics team for London’s 2012 games in February, Tony Hayward could have been forgiven for thinking he deserved a pat on the back, if not quite a medal.

By Richard Blackden
Published: 6:00AM BST 30 Sep 2010

Tony Hayward’s fate was sealed as the scale of the disaster emerged, though the public-relations gaffes did not help Photo: Getty Images

Five years on from the explosion at its Texas City refinery, the company had recovered its position in the country where people consume more oil than anywhere else.

The chief executive of Britain’s biggest energy company had made the Gulf of Mexico central to hitting BP’s aggressive production targets. The Tiber discovery in September 2009 had seen the drilling of a well to a record 35,000 feet, and the Gulf’s deep waters were a stage for BP to do what the company had long believed distinguished it from rivals: find oil and gas in places no one else could. Hayward also liked the US, describing to an audience in Houston the special American traits of being “can-do, adventurous and optimistic”. read more

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

Regal Falls to Record on Greer Exit, Ukraine Gas Flow Failure

Bloomberg

By Eduard Gismatullin – Sep 30, 2010

Regal Petroleum Plc, the U.K. explorer focusing on natural-gas projects in Ukraine, fell to the lowest share price on record after Chief Executive Officer David Greer quit and as gas wells failed to stabilize output.

Regal dropped as much as 31 percent to 18.25 pence in London trading, the lowest price since Sept. 27, 2002. The stock was at 21 pence at 10:03 a.m. local time, valuing the company at 66.86 million pounds ($106 million). The shares have fallen about 80 percent in the last year. read more

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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