Royal

Royal Dutch/Shell Group and ChevronTexaco Corp. were identified Tuesday as potentially joining the huge Australian-based mining/resources firm, BHP Billiton in the latter’s plans for the world’s first floating offshore LNG receiving terminal about 21 miles from Oxnard, CA, a coastal town 50 miles west of Los Angeles.

Royal Dutch/Shell Group last week confirmed that it obtained a second permit from Mexican regulatory authorities to develop a liquefied natural gas (LNG) receiving terminal on the Gulf Coast Mexico. Shell also has a permit to build an LNG terminal on the Pacific Coast in Baja California Norte at Costa Azul.

Royal Dutch/Shell Group has an offer on the table to buy Anadarko Petroleum Corp. for $19.5 billion, according to London’s Sunday Times. Both Shell and Anadarko officials could not be reached for comment, but Anadarko apparently hired Credit Suisse First Boston to negotiate with potential buyers over the summer.

Royal Dutch/Shell Group’s managing director on Wednesday said the oil major plans to trim between $500 million and $800 million of costs and cut staff 15% over the next four years within its oil and natural gas exploration and production (E&P) business worldwide. Walter van de Vijver also confirmed that Shell has targeted nearly $500 million in assets worldwide this year, including some in the United States and Gulf of Mexico.

The world could be consuming more gas than oil by 2025, and to prepare, Royal Dutch/Shell Group is expanding its reach to serve the higher demand in the United States and Asia through liquefied natural gas (LNG) imports, according to Sir Philip Watts, chairman of Shell’s committee of managing directors.

The world could be consuming more gas than oil by 2025, and to prepare, Royal Dutch/Shell Group is expanding its reach to serve the higher demand in the United States and Asia through liquefied natural gas (LNG) imports, according to Sir Philip Watts, chairman of Shell’s committee of managing directors.

Royal Dutch/Shell Group’s managing director on Wednesday said the oil major plans to trim between $500 million and $800 million of costs and cut staff 15% over the next four years within its oil and natural gas exploration and production (E&P) business worldwide. Walter van de Vijver also confirmed that Shell has targeted nearly $500 million in assets worldwide this year, including some in the United States and Gulf of Mexico.

Royal Dutch/Shell Group and Marathon Oil Corp. both announced plans Thursday to continue to sell off non-core assets in 2003. For Shell, the sales list includes a network of U.S.-based crude oil product pipelines. Marathon, meanwhile, plans to dispose of $400 million in assets while pumping up the spending in its exploration and production (E&P) budget domestically and internationally.

Royal Dutch/Shell Group and Marathon Oil Corp. both announced plans Thursday to continue to sell off non-core assets in 2003. For Shell, the sales list includes a network of U.S.-based crude oil product pipelines. Marathon, meanwhile, plans to dispose of $400 million in assets while pumping up the spending in its exploration and production (E&P) budget domestically and internationally.