Oil Company




Oil Company Bosses' Bonuses: US$ 1tn on extracting Fossil Fuels - the Guardian: LINK ¤ the GUARDIAN

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  • "ExxonMobil, Shell, Chevron, Total and BP pour funding into projects to unlock oil reserves"

 

 

 

 

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  • "despite scientists warning they will lead to climate change disaster"

 

 

 

 

 

 

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  • "bosses at the world’s big five oil companies have been showered with bonus payouts linked to a US$ 1tn crescendo"

 

 

 

 

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  • "of spending on fossil fuel exploration and extraction over nine years, according to analysis of company reports"

 

 

 

 

 

 

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  • "the big oil groups are pressing ahead with investments despite the International Energy Agency (IEA) estimating"

 

 

 

 

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  • "that two-thirds of proven fossil fuel reserves will need to remain in the ground"

 

 

 

 

 

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  • "to prevent the earth from warming 2C above pre-industrial levels"

 

 

 

 

 

 

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  • "multi-billion-dollar capital projects amount to huge, long-term bets by the big five"

 

 

 

 

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  • "exorbitant costs associated with unlocking hydrocarbon reserves in some of the most inaccessible locations on the planet"

 

 

 

 

 

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  • "bonuses for chief executives at all five firms are tied"

 

 

 

 

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  • "to the achievement of delivery milestones in the construction and deployment of such projects"

 

 

 

 

 

 

 

 

 

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  • "Shell’s Ben van Beurden, for example, last year received a pay deal worth US$ 32.2m"

 

 

 

 

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  • "these include four platforms floating 1,000 metres or more above deepwater wells in the Gulf of Mexico, Gulf of Guinea and South China Sea"

 

 

 

 

 

 

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  • "similarly, BP’s Bob Dudley was awarded a pay deal worth US$ 15.3m, with bonuses linked to seven "major projects""

 

 

 

 

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  • "Sunrise, a tar sands joint venture in Canada, as well as projects in Angola, Azerbaijan, the Gulf of Mexico and the North Sea"

 

 

 

 

 

 

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  • "the boss of Exxon, Rex Tillerson, was paid US$ 33.1m including bonus payouts linked to projects including the first well in the Kara Sea, in the Russian Arctic"

 

 

 

 

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  • "and the expansion of the Kearl tar sands operations in northern Alberta, Canada"

 

 

 

 

 

 

 

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  • "in 2013 the big five collectively spent US$ 165.3bn on so-called "upstream activities""

 

 

 

 

 

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  • "where investment is focused on colossal engineering projects to bring reserves on tap and, to a lesser extent, on exploration"

 

 

 

 

 

 

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  • "nine years earlier, the figure had been US$ 70.8bn"

 

 

 

 

 

 

 

 

 

 

 

 

 

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Shell to resume Arctic drilling off Alaska as green Groups warn of Disaster - the Guardian: LINK ¤ the GUARDIAN

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  • "the US government has given Shell approval to restart drilling in the Arctic"

 

 

 

 

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  • "despite repeated warnings from environmentalists that it could lead to an ecological disaster"

 

 

 

 

 

 

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  • "the administration approved Shell’s plan to resume drilling for oil and gas in the treacherous and fragile waters off the coast of Alaska"

 

 

 

 

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  • "three years after the Anglo-Dutch oil giant was forced to suspend operations following a series of potentially dangerous blunders"

 

 

 

 

 

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  • "Abigail Ross Hopper, the director of the Interior Department’s Bureau of Ocean Energy Management (BOEM), which approved the plans:"

 

 

 

 

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  • "any offshore exploratory activities in the Chukchi Sea will continue to be subject to rigorous safety standards"

 

 

 

 

 

 

 

 

 

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  • "however, campaign groups criticised the agency for rushing through approval for the oil company"

 

 

 

 

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  • "before the potential safety and environmental impacts had been fully assessed"

 

 

 

 

 

 

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  • "BOEM’s own "Environmental Impact Statement" warned that there is a 75% chance of one or more large spills happening"

 

 

 

 

 

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  • "the environmentalists warn that drilling in the icy Arctic waters is likely to be much more dangerous than other more temperate seas"

 

 

 

 

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  • "the nearest coast guard station with equipment for responding to a spill is more than 1,000 miles away"

 

 

 

 

 

 

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  • "Shell was forced to halt operations in Arctic in 2012 after the failure of a key piece of safety equipment that would be used to tackle oil spills"

 

 

 

 

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  • "the situation for the company became worse when the drilling rig it was using, the Kulluk, ran aground after it was being towed back to port"

 

 

 

 

 

 

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  • Greenpeace: "Shell has a history of dangerous malfunctioning in the Arctic while global scientists agree that Arctic oil must stay in the ground if we’re to avoid catastrophic climate change"

 

 

 

 

 

 

 

 

 

 

 



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Ministers' Ties to Oil Industry - the Guardian: LINK ¤ the GUARDIAN

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  • "close links between senior government ministers and the oil industry"

 

 

 

 

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  • "risk perpetuating dependence on a high carbon energy policy"

 

 

 

 

 

 

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  • "a third of all coalition ministers have past or present"

 

 

 

 

 

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  • "links with fossil fuel companies"

 

 

 

 

 

 

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  • "or with financial and services companies supporting oil or gas projects"

 

 

 

 

 

 

 

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  • "the WDM's report also highlights the revolving door between oil companies and the big banks"

 

 

 

 

 

 

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  • "the top UK banks underwrote US$ 250bn in bonds and share issues"

 

 

 

 

 

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  • "for fossil fuel companies between 2010 and 2012"

 

 

 

 

 

 

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  • "we desperately need regulation to stop banks and other investors ploughing billions into unsustainable fossil fuels"

 

 

 

 

 

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  • "will this happen when government, big finance"

 

 

 

 

 

 

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  • "and big oil are so closely intertwined ?"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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BP and Shell raided by EU - the Guardian: LINK ¤ the GUARDIAN

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  • "the London offices of BP and Shell have been raided by European regulators"

 

 

 

 

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  • "they have "colluded" to rig oil prices for more than a decade"

 

 

 

 

 

 

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  • the European Commission: "officers carried out "unannounced inspections" at several oil companies in London, the Netherlands and Norway"

 

 

 

 

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  • "they may have colluded in reporting distorted prices to a price reporting agency (PRA)"

 

 

 

 

 

 

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  • "to manipulate the published prices"

 

 

 

 

 

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  • "for a number of oil and biofuel products"

 

 

 

 

 

 

 

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  • "BP, Shell, Norway's Statoil and Platts"

 

 

 

 

 

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  • "the world's leading oil price reporting agency, all confirmed they are being investigated"

 

 

 

 

 

 

 

 

 

 

 

 

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Price Fixing by Oil Firms - the Guardian: LINK ¤ the GUARDIAN

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  • "gas and oil is often bought and sold "over the counter""

 

 

 

 

 

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  • "the prices are provided to price reporting agencies (PRAs)"

 

 

 

 

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  • "which use them to set benchmark costs"

 

 

 

 

 

 

 

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  • "because such over-the-counter trades are outside regulated markets"

 

 

 

 

 

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  • "they leave benchmarks vulnerable to manipulation"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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EXXON MOBIL - Wikipedia EN: LINK ¤ EXXON MOBIL

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  • "Exxon Mobil Corp, ExxonMobil, is an American company: oil"

 

 

 

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[ revenue US$ 268.88 billion (2015) - net income US$ 21.96 billion (2015) ]






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  • "it produces about 3 percent of the world's oil"

 

 

 

 

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  • "like other oil companies, it is struggling to find new sources of oil"

 

 

 

 

 

 

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  • "James Giffen of the Mercator Corp was indicted, of bribing President Nursultan Nazarbayev of Kazakhstan"

 

 

 

 

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  • "with US$ 78 million to help ExxonMobil win a 25 percent share"

 

 

 

 

 

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  • "of the Tengiz oilfield, the third largest in the world"

 

 

 

 

 

 

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  • "ExxonMobil has drawn criticism for funding organizations"

 

 

 

 

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  • "seeking to undermine public opinion about the scientific conclusion that global warming is caused by the burning of fossil fuels"

 

 

 

 

 

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  • "2007, the company appeared to change its position, when vice president for public affairs Kenneth Cohen said"

 

 

 

 

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  • "we know enough now - and society knows enough now - that the risk is serious and action should be taken"

 

 

 

 

 

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  • "ExxonMobil CEO Rex Tillerson acknowledged that the planet was warming"

 

 

 

 

 

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  • "while carbon dioxide levels were increasing"

 

 

 

 

 

 

 

 

 

 

 

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ROYAL DUTCH SHELL - Wikipedia EN: LINK ¤ SHELL

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  • "Royal Dutch Shell plc is an Anglo-Dutch company: oil"

 

 

 

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[ revenue US$ 264.96 billion (2014) - profit US$ 1.93 billion (2015) ]







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  • "the presence of companies like Shell in the Niger-Delta has led to extreme environmental issues"

 

 

 

 

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  • "many pipelines in the Niger-Delta owned by Shell are old and corroded"

 

 

 

 

 

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  • "this has resulted in many oil spills that have degraded the environment"

 

 

 

 

 

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  • "Amnesty International criticised the continuation of gas flaring"

 

 

 

 

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  • "and Shell's slow response to oil spills"

 

 

 

 

 

 

 

 

 

 

 

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Shell's grip on Nigerian State - the Guardian: LINK ¤ the GUARDIAN

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  • "the oil giant Shell claimed it had inserted staff"

 

 

 

 

 

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  • "into all the main ministries of the Nigerian government"

 

 

 

 

 

 

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  • "giving it access to politicians' every move in the oil-rich Niger Delta"

 

 

 

 

 

 

 

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  • "the company's top executive in Nigeria told US diplomats that Shell"

 

 

 

 

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  • "had seconded employees to every relevant department"

 

 

 

 

 

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  • "and so knew everything that was being done in those ministries"

 

 

 

 

 

 

 

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  • "the Nigerian government had "forgotten" about the extent of Shell's infiltration"

 

 

 

 

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  • "and was unaware of how much the company knew about its deliberations"

 

 

 

 

 

 

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  • "Nigeria is Africa's leading oil producer and the eighth biggest exporter in the world"

 

 

 

 

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  • "accounting for 8% of US oil imports"

 

 

 

 

 

 

 

 

 

 

 

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BP
- Wikipedia EN: LINK ¤ BP

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  • "BP plc is a British company: oil"

 

 

 

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[ revenue US$ 225.98 billion (2015) - profit US$ -6.40 billion (2015) ]






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  • "the Deepwater Horizon oil spill, the largest accidental release of oil into marine waters in history"

 

 

 

 

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  • "resulted in severe environmental, health and economic consequences"

 

 

 

 

 

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  • "the company agreed to pay more than US$ 4.5 billion in fines and penalties"

 

 

 

 

 

 

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  • "BP was a member of the Global Climate Coalition, an industry organisation established to promote global warming scepticism"

 

 

 

 

 

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  • "but withdrew, saying"

 

 

 

 

 

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  • "the time to consider the policy dimensions of climate change is not"

 

 

 

 

 

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  • "when the link between greenhouse gases and climate change is conclusively proven"

 

 

 

 

 

 

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  • "but when the possibility cannot be discounted and is taken seriously by the society of which we are part"

 

 

 

 

 

 

 

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  • "Lord John Browne, the group chief executive of BP, declared in a speech that global warming was real"

 

 

 

 

 

 

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  • "and that urgent action was needed"

 

 

 

 

 

 

 

 

 

 

 

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CHEVRON
- Wikipedia EN: LINK ¤ CHEVRON

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  • "Chevron Corporation is an American company: oil"

 

 

 

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[ revenue US$ 129.92 billion (2015) - net income US$ 4.58 billion (2015) ]







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  • "a class action lawsuit against Chevron was filed in Ecuadorian court for US$ 28 billion by indigenous residents"

 

 

 

 

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  • "of making residents ill and damaging forests and rivers"

 

 

 

 

 

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  • "by discharging 18 billion US gallons (68,000,000 m3) of formation water into the Amazon rainforest"

 

 

 

 

 

 

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  • "2011, Ecuadorian residents were awarded US$ 8.6 billion"

 

 

 

 

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  • "based on claims of loss of crops and farm animals as well as increased local cancer rates"

 

 

 

 

 

 

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  • "the action is considered the first time that indigenous people have successfully sued"

 

 

 

 

 

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  • "a multinational corporation in the country where the pollution took place"

 

 

 

 

 

 

 

 

 

 

 

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China National Petroleum - Wikipedia EN: LINK ¤ CNPC

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  • "China National Petroleum Corporation, CNPC, is a Chinese company: oil"

 

 

 

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[ revenue US$ 260.00 billion (2015) - net income US$ 6.76 billion (2015) ]

 













 

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TOTAL - Wikipedia EN: LINK ¤ TOTAL

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  • "Total SA is a French company: oil"

 

 

 

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[ revenue € 165.35 billion (2015) - profit € 5.08 billion (2015) ]

 













 

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CONOCO PHILLIPS
- Wikipedia EN: LINK ¤ CONOCOPHILLIPS

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  • "ConocoPhillips Co is an American company: oil"

 

 

 

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[ revenue US$ 55.52 billion (2014) - net income US$ 8.42 billion (2012) ]

 













 

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GAZPROM
- Wikipedia EN: LINK ¤ GAZPROM

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  • "OAO Gazprom is a Russian company: gas"

 

 

 

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[ revenue US$ 106.30 billion (2014) - net income US$ 3.10 billion (2014) ]







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  • "it produced 17% of the worldwide gas production"

 

 

 

 

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  • "and has a legal export monopoly"

 

 

 

 

 

 

 

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  • "Shell and Gazprom signed a memorandum of hydrocarbons exploration"

 

 

 

 

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  • "in Russia's Arctic shelf and a section of deep-water shelf abroad"

 

 

 

 

 

 

 

 

 

 

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Gazprom - US cable - 2008: LINK ¤ 08MOSCOW2816

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  • "Gazprom has two basic functions: to fulfill the gas needs of domestic industrial and residential consumers"

 

 

 

 

 

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  • "and to fulfill its "social obligations""

 

 

 

 

 

 

 

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  • "Gazprom's export monopoly"

 

 

 

 

 

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  • "protects the high prices charged to European consumers"

 

 

 

 

 

 

 

 

 

 

 

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SAUDI ARAMCO
- Wikipedia EN: LINK ¤ SAUDI ARAMCO

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  • "Saudi Aramco is a Saudi Arabian company: oil"

 

 

 

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[ revenue US$ 378.00 billion (2014) ]

 

 






















 

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Exxon's Iraq Deal - Business Insider: LINK ¤ BUSINESS INSIDER

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  • "Exxon and Shell just finalized their deal with the Iraqi government"

 

 

 

 

 

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  • "to increase the output of the massive West Qurna 1 field by seven-fold"

 

 

 

 

 

 

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  • "the field has the capacity to produce"

 

 

 

 

 

 

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  • "more than 20% of Saudi Arabia"

 

 

 

 

 

 

 

 

 

 

 

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big Oil in Iraq - Wall Street Journal - 2009: LINK ¤ WALL STREET JOURNAL

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  • "the new government will auction off oil contracts to foreign companies"

 

 

 

 

 

 

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  • "Iraq has one of the world's largest supplies of crude oil"

 

 

 

 

 

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  • "with 115 billion barrels in proven reserves"

 

 

 

 

 

 

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  • "Iraq is relatively unexplored"

 

 

 

 

 

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  • "offering big companies an easy-to-tap source of growth"

 

 

 

 

 

 

 

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  • "just over 20 of Iraq's roughly 80 known oil fields have been fully or partially developed"

 

 

 

 

 

 

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  • "exploration and development in Iraq costs US$ 1.50 to US$ 2.25 a barrel"

 

 

 

 

 

 

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  • "compared with about US$ 5 in Malaysia or US$ 20 in Canada"

 

 

 

 

 

 

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  • "Western oil companies were kicked out of Iraq in 1972"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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History of Oil
- Robert Newman - FILM - 28 mb: LINK ¤ HISTORY OF OIL











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the Gulf Oil Disaster - Report Oilspill Commission:



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  • "the well blew out because a number of separate risk factors"

 

 

 

 

 

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  • "oversights, and outright mistakes"

 

 

 

 

 

 

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  • "combined to overwhelm the safeguards meant to prevent just such an event from happening"

 

 

 

 

 

 

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  • "but most of the mistakes and oversights at Macondo can be traced back to a single overarching failure"

 

 

 

 

 

 

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  • "a failure of management"

 

 

 

 

 

 

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  • "better management by BP, Halliburton, and Transocean"

 

 

 

 

 

 

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  • "would almost certainly have prevented the blowout"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Standard Oil
: LINK ¤ STANDARD OIL

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  • "Standard Oil Co Inc was an American oil producing company"

 

 

 

 

 

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  • "it was the largest oil refiner in the world"

 

 

 

 

 

 

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  • "Standard Oil controlled 88 percent of the refined oil flows in the US"

 

 

 

 

 

 

 

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  • "1911, the US Supreme Court upheld the lower court judgment and declared"

 

 

 

 

 

 

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  • "the Standard Oil group to be an "unreasonable" monopoly"

 

 

 

 

 

 

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  • "under the Sherman Antitrust Act"

 

 

 

 

 

 

 

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  • "it ordered Standard to break up into 90 independent companies with different boards of directors"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Razzia an Standorten von Ölmultis - der Standard: LINK ¤ der STANDARD

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  • "warum Big Player wie Shell und BP im Verdacht stehen, zu manipulieren"

 

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  • "hängt mit der Intransparenz zusammen, wie die Ölpreise zustande kommen"

 

 

 

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  • "das System der Preisfindung hat den Nachteil, dass es nicht öffentlich ist"

 

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  • "das letzte Wort haben Preisagenturen wie Platts aus den USA oder die britische Argus"

 

 

 

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  • "weil im Handel mit Ölprodukten nur wenige Trades pro Tag stattfinden, müssen die Ölpreise häufig geschätzt werden"

 

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  • "Mitarbeiter der Agenturen befragen - ähnlich, wie das bei der Libor-Ermittlung im Bankenbereich geschieht"

 

 

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  • "regelmäßig Ölhändler, Vertreter von Ölkonzernen und andere Marktteilnehmer"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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OIL COMPANY
- Wikipedia EN: LINK ¤ OIL COMPANY


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