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Archive for December 14th, 2006

Greenpeace defender signs up for rematch against Shell

The British lawyer who represented Greenpeace in the battle with Shell over the disposal of the Brent Spar oil platform has been hired by Russia to prepare a case against the Anglo-Dutch oil company over problems at its development project on Sakhalin island off Siberia.
Mark Stephens, partner at Finer Stephens Innocent, said he expected court [...]

Thursday, December 14th, 2006

Russia approves increase of Sakhalin-1 budget to $19.3 bln

The government has approved a $6.5 billion increase in the overall budget of the Sakhalin-1 oil and gas project in Russia's Far East, to $19.3 billion, the Industry and Energy Ministry said Thursday.
The government also approved a spending level of $1.193 billion in 2007, as proposed by the project operator, the ministry said in a [...]

Thursday, December 14th, 2006

Shell’s Surrender to Kremlin Pressure Undermines Shareholders’ Interests

Following news of the dismissal of Russia's chief environmental inspector, Oleg Mitvol, just two days after Shell's offer to give up a majority stake in the Sakhalin-2 project to the Russian government, Attorney Robert Amsterdam issued the following statement:
"This decision on behalf of Royal Dutch Shell to give in to the extortion of the Russian [...]

Thursday, December 14th, 2006

Russian ministry reaffirms budget at ExxonMobil-led development

Russia's Energy and Industry Ministry reaffirmed the total cost of an oil and gas project led by ExxonMobil Corp. off the coast of Russia's Far Eastern island of Sakhalin, the ministry said Thursday.
The total budget of the project is US$12.8 billion (?9.7 billion), including US$6.5 billion (?4.9 billion) in costs for developing the Chayovo oil [...]

Thursday, December 14th, 2006

Shell game: Oil wealth figures into Russia’s ambitions

The Russian government has successfully pressured Shell, the Anglo-Dutch oil company, into reducing its stake in a promising but difficult oil and natural-gas field in Siberia from a majority share to a minority share. Gazprom, the Russian state-owned energy group, which has invested little or nothing in exploiting the energy resources on and around Sakhalin [...]

Thursday, December 14th, 2006

Russia watchdog Mitvol faces disciplinary rap

Russia's outspoken environment watchdog Oleg Mitvol, who has waged a harsh campaign against the Shell-led Sakhalin-2 energy project, faced disciplinary proceedings on Thursday that could herald his dismissal.
The head of state environmental agency RosPrirodNadzor, Sergei Sai, has asked Resources Minister Yuri Trutnev to hand Mitvol a formal warning, a ministry spokesman said.
"The document has been [...]

Thursday, December 14th, 2006

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