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Archive for July, 2006

Shell project faces tax haven criticisms

Shell is facing opposition in its attempts to raise finance for its overspent Sakhalin oil and gas project because the consortium behind it is based in a tax haven.
The group, which is owned by Shell, is seeking cash from UK taxpayers to help fund the project.

Monday, July 31st, 2006

Shell’s Bermuda arm seeks money from UK taxpayers

The Shell-owned consortium behind the $20bn oil and gas project in Sakhalin off the east coast of Russia is seeking UK taxpayers' money to help pay for the scheme, even though it is based in the tax haven of Bermuda.
Campaigners are demanding the Export Credits Guarantee Department deny funds to Sakhalin Energy. James Leaton of [...]

Sunday, July 30th, 2006

Sakhalin Chooses Own Gas Commercialization Option

Sakhalin region administration has chosen own option of the commercialization of gas obtained under product sharing agreements from 'Sakhalin-2' Project. According to Ivan Malakhov, Governor of Sakhalin, Russia is to construct a gas-chemical plant to make products for export to Asia. Japanese companies could act as project initiators and potential customers. In their opinion, the [...]

Friday, July 28th, 2006

Exxon reports small oil spill at Russian project

Exxon Mobil Corp., the world's biggest publicly traded oil company by market value, has spilled a small amount of oil at a huge project on an island off the Russian coast, The Wall Street Journal report on Tuesday.
Exxon has recovered about 30 barrels of oil from the weekend spill and expects to recover a roughly [...]

Wednesday, July 26th, 2006

Sakhalin Energy Completes Installation of New Modules on Molikpaq Drilling Rig

The new modules are needed to connect the drilling rig to the pipeline system. During construction and assembling works in July two modules, which are extremely complex structures as high as a nine-storied building each, were lifted to the rig. Installation works were carried out with the help of 'Castoro 8', the barge with a [...]

Wednesday, July 26th, 2006

Sakhalin-1 Unable to Share Future Gas

ONGC of India put forward its own plan to sell gas under the Sakhalin-1 project, whereby the gas will be liquefied on Sakhalin-2 facilities and exported to India in the second move. But the opinion of other members of consortium, including the project operator ExxonMobil, is different. Similar to Gazprom, they think China should become [...]

Monday, July 24th, 2006

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