Posts in September 2007

  • “Dreadful” BP Plans to Cut Jobs

    Tony Hayward, BP’s fresh-faced CEO, is preparing staff for a far-reaching shake-up of the oil company as he delivered a blunt warning that third-quarter revenues would be “dreadful”. Hayward told a staff meeting in Houston he would be announcing a streamlining of the company’s organisation next month. He said that BP’s financial performance was at…
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  • UN Boss Criticises Bush Over Climate Forum

    The Bush administration was criticised yesterday for organising an alternative climate change forum, as the United Nations secretary general stressed that the UN is the best place to discuss global measures. “The UN climate process is the appropriate forum for negotiating global action,” the UN’s Ban Ki-moon, told world leaders and superstars of the climate…
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  • Shell Wins Russian Heavy Oil Deal

    The Russian mid-sized oil firm Tatneft has given Shell’s operations in Russia a boost by choosing it as its partner in developing vast deposits of heavy bitumen oil in the Volga region in the republic of Tatarstan. Although no specific details of the agreement have been made public the firm has said it will choose…
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  • Clinton: Huge Economic Effort Needed on Climate

    Former US President, Bill Clinton, has told the Financial Times the US needs to unleash “the greatest concentration of economic activity since we mobilised for World War II” by embracing new energy technology and regulatory incentives to tackle climate change. His comments come as leaders of 80 countries are expected to attend a special UN…
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  • MEND Threatens New Attacks

    MEND has threatened to resume attacks on oil facilities in the Niger Delta and kidnapping of foreigners, ending a four-month ceasefire. The threat follows the arrest of a factional leader of MEND, Henry Okah, in Angola on arms trafficking. “With effect from 12 midnight today, Sunday September 23, 2007, we will commence attacks on installations…
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  • Wal-Mart Seeks Emissions Data

    The world’s largest retailer, Wal-Mart is to ask its suppliers to measure and report their greenhouse gas emissions in the biggest move to disclose emissions from businesses.Few companies disclose their emissions, making it difficult to judge which are ‘clean’ and which are ‘dirty’. Paul Dickinson, chief executive of the Carbon Disclosure Project, a group of…
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  • Iraqi Oil Law “Passed by End of the Year”

    Iraq’s parliament will re-start negotiations next month on the country’s controversial oil law, according to Khaled al-Attiya, the deputy speaker. Attiya said the parliament would take its time to discuss the draft oil law, but he expected it to pass before the end of the year. Attiya, a senior member in the ruling Shi’ite Alliance,…
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  • UN Chief Calls on Rich to Act

    UN Secretary-General Ban Ki-moon said that rich countries should help the poor ones deal with the challenges of development and climate change by providing the necessary funding and transferring technology. Developed countries should “be prepared to transfer technologies and necessary funding to help those developing countries,” Ban has said on the eve of a high…
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  • Putin Opposes “Energy Monster”

    Russian President Vladimir Putin has said he is against the creation of state energy “monster” that would straddle the entire economy, sucking away banking and other resources, the Kremlin has reported on Thursday. When asked about a possible merger between state controlled Gazprom (the world’s biggest gas company by reserves, and Rosneft, Russia’s largest oil…
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  • Russia: We Want A Slice of Iraqi Oil

    The Iraqi and Russian foreign ministers have pledged cooperation on post-war reconstruction, including the lucrative oil sector, after a meeting in Moscow. Russian private energy giant Lukoil has been lobbying to sign a contract for the West Qurna oil field. Lukoil had a deal with Saddam Hussein that was canceled by Iraq in 2002. Lukoil…
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