Shell, Saudi commit to massive U.S. refinery project
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Royal Dutch Shell and Saudi Arabia's state oil company announced Friday they would go ahead with a $7 billion expansion of a jointly-owned Texas refinery that will make the plant one of the biggest in the world.
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Royal Dutch/Shell Group, the third largest publicly traded oil company, plans to raise spending to $15 billion a year, sell assets and cut costs in a bid to regain investor confidence after overstating oil reserves for six years.
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Royal Dutch/Shell Group (RD.AS) (SHEL.L) said it would jointly operate 180 gas stations in China by the end of 2004, the second foreign oil major after BP to enter the country's huge but tightly controlled retail market.
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US energy group Tesoro Corporation said it agreed to buy an oil refinery, an energy terminal and 250 gasoline stations in California from Anglo-Dutch Royal Dutch Shell for 1.6 billion dollars.
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Nigeria and Sao Tome signed a landmark oil exploration contract with a U.S.-dominated consortium on Tuesday, marking Sao Tome's first steps into the world of big oil, authorities said on Tuesday.
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Russian gas company, Sakhalin Energy Investment Company Ltd, said it has signed a deal to supply Shell Eastern Trading Ltd with LNG over a 20 year period for the North American market, the AFX news agency reported on Thursday.
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Royal Dutch Shell says it has signed an agreement with energy peers Eni and Calik Enerji on its possible participation in a major oil pipeline project in Turkey.
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BP said it had agreed to buy Chevronâs manufacturing company in the Netherlands, Texaco Raffinaderij Pernis, for about $900 million, excluding working capital and hydrocarbon inventory. BP will acquire Chevronâs 31 percent minority shareholding in the Netherlands Refining Company as well as Chevronâs stake in the jointly owned wind farm located at the refinery; shareholdings in the nearby crude oil terminal and storage facility; and a number of associated pipelines. The deal, which is expected to be completed during the first half of the year, would make the refinery a 100 percent BP- owned asset.
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Shell Oil Co. said on Sunday operations were back to normal at its 156,000-barrel-per-day San Francisco Bay area refinery in Martinez, California, after emergency flaring on Friday.
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Anglo-Dutch oil giant Royal Dutch/Shell and China Petroleum and Chemical Corp (Sinopec Group) have launched a US$187-million service station joint venture, the companies said.
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Oil major Royal Dutch Shell is on the brink of a deal to bring Russian gas monopoly Gazprom into the $22 billion Sakhalin-2 project, a spokesman said on Sunday.
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Little-known, privately held Hyperion  Resources Inc. said on Wednesday it plans to build an $8  billion oil refinery, the first in the United States since  1976, at one of several sites under consideration in the U.S.  Midwest.
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Oil major Royal Dutch Shell  is on the brink of a deal to bring Russian gas monopoly Gazprom  into the $22 billion Sakhalin-2 project, a spokesman said on Sunday.
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DALLAS (CBS.MW) -- Royal Dutch/Shell Group will pay a $120 million penalty to settle a Securities and Exchange Commission investigation of its overstatement of nearly 4.5 billion barrels of proven reserves, the federal agency said Tuesday.
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Royal Dutch/Shell Group announced Wednesday that it would spend US$1.8 billion on exploration and production in the North Sea, including building a pipeline to transfer gas from Norway to Britain.
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Qatar is seeking tenders to build a oil refinery with a capacity of 250,000 barrels a day, Energy Minister Abdullah bin Hamad al-Attiyah said on Saturday.
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Shell Oil Co said on Friday it has decided to go ahead with a 325,000 barrel-per-day capacity expansion of the Motiva refinery in Port Arthur, Texas.