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Posts on ‘July 13th, 2011’

Shell, Dow lose court challenge to EU antitrust fine

LUXEMBOURG, July 13 | Wed Jul 13, 2011 4:07am EDT

(Reuters) – Royal Dutch Shell (RDSa.L) and Dow Chemical (DOW.N) lost a court appeal on Wednesday against a fine levied by EU regulators five years ago for taking part in a cartel, but the court cut a fine imposed on Italy’s Eni (ENI.MI).

The General Court, Europe’s second-highest, also annulled penalties levied against Czech petrochemicals group Unipetrol (UNPEsp.PR) and Polish company Trade-Stomil.

“With regard to Unipetrol, its subsidiary Kaucuk and Trade-Stomil, the Court considers that the evidence admitted by the Commission is not sufficient for a finding that those companies participated in unlawful agreements,” the court found. 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.

Robert Peston Article: Who is more powerful – Murdoch or Parliament

The question posed in the headline of the above article has been overtaken by events. News Corp has withdrawn its bid for the shares in BSKYB, which it does not already own. However, some of the matters he discussed about multinational companies remain relevant.


Some extracts from the Robert Peston article:

If ever there were a symbol of the uneasy balance of power between national governments and large multinationals companies, it is the spectacle of the British Parliament being poised to vote overwhelmingly (it seems) for Rupert Murdoch’s News Corp to abandon its bid for British Sky Broadcasting – but being powerless to force him to abandon that takeover. 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.

Obama Sets Up Group to Coordinate Alaska Oil Exploration

By Katarzyna Klimasinska – Jul 12, 2011 6:39 PM GMT+0100

President Barack Obama created an interagency working group led by the Interior Department to oversee oil and natural gas exploration in Alaska.

The group will coordinate permit decisions and environmental reviews for onshore and offshore projects, including Royal Dutch Shell Plc (RDSA)’s plan to drill in the Chukchi and Beaufort seas, David Hayes, deputy Interior secretary and the working-group leader, told reporters today in Washington. 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.

Corrib gas could push up prices

10 July 2011 By John Burke Public Affairs Correspondent

Homeowners are facing the ‘‘very likely’’ risk that energy prices could rise due to competition between the new Corrib gas supply and the Bord Gáis owned undersea gas-supply interconnectors, the state energy regulator has warned.

In a paper published last week, the regulator said that any decline in demand for gas from the Bord Gáis interconnectors could be expected to fall following the addition of supply sources, but it also warned that this might lead to higher prices for consumers. 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.

World oil demand to strain supply in 2012-IEA

Wed Jul 13, 2011 1:27pm GMT

* IEA sees continued gap between OPEC output and demand for OPEC oil

* Maintains that strategic petroleum reserves release is working

* No decision yet on further stocks releases

By Alex Lawler and Barbara Lewis

LONDON, July 13 (Reuters) – World oil demand growth will accelerate next year, adding to the pressure on available supplies, the International Energy Agency said on Wednesday, contradicting a more conservative outlook from producer group OPEC.

In its first 2012 forecast in a monthly report, the IEA said oil use would grow by 1.47 million barrels per day (bpd) to 91 million bpd. The agency also trimmed its estimate of demand growth this year to 1.20 million bpd. 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.