Posts in July 2007
Will BP and Shell Merge?
David Strahan, the author of The Last Oil Shock, yesterday raised the old chestnut of a BP- Shell merger that periodically does the rounds. “BP and Shell are finally set to merge. That’s if you believe the tittle-tattle in the Square Mile”, he wrote. Strahan wrote about how, although it a joined up BP –…
Continue reading ‘Will BP and Shell Merge?’.BP: Back to Profit
Well it was on the cards that with a change in leadership came a change in direction. Tony Hayward, chief executive of BP, is planning a cultural shift at BP by playing down Lord Browne’s emphasis on the environment and refocus BP on profit. Mr Hayward and other directors have discussed the corporate mantra “Beyond…
Continue reading ‘BP: Back to Profit’.$80 a Barrel On Cards
The price of oil jumped to an 11-month high yesterday, moving even closer to record levels hit last summer as fears mounted over shortages in supply. Brent crude jumped to $77.07 briefly during early-afternoon trading, within $2 of the all-time high of $78.65 set last August.
PetroChina Pulls out of Canadian oil Sands
PetroChina is pulling out of a US$3.8 billion Alberta to British Columbia pipeline project that would have supplied crude oil to China from Canada’s oil sands. Yiwu Song, vice president of China National Petroleum Corp., PetroChina’s parent company, said the company was tired of the lack of Canadian government and producer support for their business,…
Continue reading ‘PetroChina Pulls out of Canadian oil Sands’.Iraqi Oil Law Changed “Substantially”
Iraq’s controversial draft oil law has undergone substantial changes that threaten the interests of the northern Kurdish region, a senior Kurdish official has said. Ashti Horami, minister for natural resources in the autonomous administration in the northern Kurdish region, said a key change pertained to new oil exploration contracts.
Big Oil Dominates Fortune 500
Although retail giant, Wal-Mart has reclaimed the top spot on the latest Fortune Global 500 list from Exxon, Big Oil dominates the top ten. Exxon is number two on the list, Shell is at three, BP at four, Chevron is number seven, ConocoPhillips is number nine and Total is number ten. Also in the top…
Continue reading ‘Big Oil Dominates Fortune 500′.Kuwait: We have 100 Billion Barrel Oil Reserve
OPEC-member Kuwait has reconfirmed that its oil reserves are 100 billion barrels, disputing a report that the figure was around half that amount. “We confirm that Kuwait’s oil reserves are 100 billion barrels,” acting oil minister Mohammad al-Olaim told reporters after briefing parliament in a closed-door session about the levels of reserves in the Gulf…
Continue reading ‘Kuwait: We have 100 Billion Barrel Oil Reserve’.New Study Counters Climate Sceptics’ Main Argument
The sceptics must be choking on their corn-flakes this morning, as one of their main arguments to counter the mainstream consensus about climate change has yet again been shot down in flames. In building their argument that human activity is not to blame for climate change, the sceptics have argued that the current warming is…
Continue reading ‘New Study Counters Climate Sceptics’ Main Argument’.Mexican Oil And Gas Pipelines Attacked
A Mexican guerrilla group has claimed responsibility for a series of bombings of oil and gas pipelines operated by Pemex, the country’s national oil company. Explosions sent flames nearly 1,000 feet into the air outside the city of Corregidora, in the central state of Queretaro, where several pipelines were severed, including a 36-inch pipe that…
Continue reading ‘Mexican Oil And Gas Pipelines Attacked’.Sarkozy in Algeria for Energy Talks
Nicolas Sarkozy has begun his first visit to Algeria on his maiden tour outside Europe since his May election. The French President arrived in Algiers yesterday seeking to boost energy and military ties. He had a working lunch with Abdelaziz Bouteflika, the Algerian president, and supper with Zine al-Abidine Ben Ali, the Tunisian president, before…
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