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Posts in July 2007

• Shell to Build $25 Billion Oil Sands Plant

  Andy Rowell

  Jul31

  Oil giant Shell is seeking to build a new $25 billion plant to process bitumen from Alberta’s oil sands. The “Scotford Upgrader 2 Project”, to be built near Fort Saskatchewan, Alberta, will be built in four phases with a capacity of 100,000 barrels a day each. Construction may start as early as 2009.

• Lebanese Beaches “Still Very Toxic” After Oil Spill

  Andy Rowell

  Jul31

  The Lebanese coastline remains heavily polluted from last year’s Jiyyeh oil spill and cleaning efforts have not achieved the desired result, according to local NGOs. Their conclusions contrast sharply with reports by other NGOs and the United Nations Environment Program (UNEP) claiming beaches were safe and the bulk of the spill had been contained.

• Alaska Regulator Assists Shell Drilling Campaign

  Andy Rowell

  Jul31

  The Anchorage Daily News reports how, when oil giant Shell ran into problems recently securing federal air pollution permits needed to launch its controversial offshore drilling campaign for this summer, the company went to the state’s top pollution regulator for help. Shell hopes to start drilling exploratory wells in Beaufort Sea this summer using two…
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• Victims of Oil

  Mark Floegel

  Jul26

  The shop around the corner raised the price of sandwiches by a quarter this week. Although the housing meltdown is raising concerns that it may take the whole American economy down with it, prices are going up and the reason is the cost of oil. Oil, and therefore gas, prices remain at near-record levels. A…
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• US House “Discourages” International Oil Subsidies, But Falls Short of Ending Oil Aid

  Andy Rowell

  Jul26

  The US House of Representatives missed an important opportunity to end oil aid in a bill [Acrobat pdf] that will “re-authorize” the Overseas Private Investment Corporation (OPIC) – one of two agencies in the US government that uses taxpayer dollars to provide financing, insurance and guarantees to US businesses wanting to expand their operations in…
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• $100-Barrel “Only a Few Months Away”

  Andy Rowell

  Jul25

  Predicting the price of oil is getting as difficult as predicting this Summer’s weather. It was only recently that a $100-a-barrel was being muted a possibility by 2009. Now it seems it could be as early as next year. Jeffrey Currie, a commodity analyst in London for Goldman Sachs, the largest brokerage firm, said that…
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• Hayward Admits Failures at BP

  Andy Rowell

  Jul25

  In his first appearance as BP’s new chief executive, Tony Hayward, has pledged to oversee a turnaround at the oil giant as the company posted a drop in second-quarter profits. Hayward told reporters that rather than make optimistic predictions he would “prefer to concentrate on real delivery”. He added that “My message today is simple:…
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• US Justice Department Probes Nigerian Oil Operations

  Andy Rowell

  Jul25

  The U.S. Justice Department is conducting a criminal inquiry of nearly a dozen oil and oil-services companies, focusing on potentially illegal payments – bribes – to customs agents who provided freight forwarding and other services, including in Nigeria. A civil investigation by the Securities and Exchange Commission also is under way.

• Ecuador: Pay Us to Keep the Oil in the Ground

  Andy Rowell

  Jul24

  Under pressure to preserve the environment while at the same time ease the poverty of his people, Ecuadorean President Rafael Correa has come up with an unusual and novel solution. President Rafael Correa has startled Wall Street with talk of not paying Ecuador’s $10.3 billion foreign debt. He wants wealthy nations to pay Ecuador $350…
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• BP Seeks More JVs in Russia

  Andy Rowell

  Jul24

  BP has reported a 13 per cent fall in second-quarter profits, on the back of a decline in oil production and operational problems at the company’s US refineries. Like all the oil majors BP is struggling to find new reserves. So, despite its recent troubles in Russia, BP has signaled that it is seeking more…
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