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Posts on ‘August 1st, 2011’

Nigeria’s Oil, Gas Reserves Declining at About 12% a Year

By Elisha Bala-Gbogbo – Aug 1, 2011 2:49 PM GMT+0100

Nigeria’s oil and gas reserves are declining at as much as 12 percent a year, with production from onshore and shallow-water oil fields having reached their peak, Petroleum Minister Diezani Alison-Madueke said.

Africa’s largest oil producer plans to boost deep-water production through measures including the passage of a new oil industry law before the end of this year, Alison-Madueke told reporters today in Abuja, the capital. Nigeria needs to take a “pragmatic approach” in the new legislation to address concerns by international energy companies that the new law will hand too much profit and control to the state, she said. 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.

Slumping Output Raises Tough Questions For European Oil Giants

By Alexis Flynn, Of DOW JONES NEWSWIRES

LONDON -(Dow Jones)- When Europe’s major oil companies reported quarterly earnings last week, headlines across national capitals once again excoriated the petroleum giants for soaring profits in the face of consumers anger at high fuel prices.

Yet the profits couldn’t mask a trend that continues to trouble Wall Street and corporate boardrooms: Nearly every major oil company reported year-on-year oil and gas output declines, often in the double-digits. 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.

The end of Big Oil?

How the break-up of ConocoPhillips could lead to similar moves by oil conglomerates like BP and Exxon Mobil, forever changing the energy landscape.

By Cyrus Sanati, contributor

FORTUNE– The announcement last month that ConocoPhillips plans to break up into two separately traded companies took Wall Street by surprise, raising uncomfortable questions as to Big Oil’s raison d’etre. If COP proves that it can indeed unlock value from separating its exploration and production unit from its refining and marketing units, then other companies, namely BP and ExxonMobil, could soon find themselves under pressure from their shareholders to follow suit, forever changing the energy landscape. 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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