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Shell faces revolt on executive pay

By STV.tv May 5th, 2009 - PERMALINK

LONDON (Reuters) - Royal Dutch Shell faces a possible shareholder revolt over its executive pay policy after the Association of British Insurers (ABI), a large investor and a corporate governance agency expressed concerns about the plan. The ABI said on

Denbury swings to a loss

By Upstreamonline.com May 5th, 2009 - PERMALINK

US independent Denbury Resources swung to a first-quarter loss, hurt by charges on derivates contracts and lower oil and gas prices, sending its shares down 7%. For the quarter, net loss was $18.3 million, or 7 cents per share, compared with a net income

Cog Belts Eliminate Slippage On Oil Skimmers!

By ThomasNet May 5th, 2009 - PERMALINK

It has been reported to Wayne Products Inc. by new Mini-Skimmer(TM) prospects and customers, that some competitive oil skimmers fail in service due to belt slippage. All reported problem skimmers have had flat belts. The two causes of slippage were that

Unit beats expectations

By Upstreamonline.com May 5th, 2009 - PERMALINK

US producer Unit reported a quarterly profit before a ceiling test writedown, surpassing market expectations, and said today it was currently in compliance with all loan covenants. Excluding the writedown, the company earned $27.6 million, or 59 cents

CanSup gets bankruptcy extension

By Upstreamonline.com May 5th, 2009 - PERMALINK

Troubled Calgary junior Canadian Superior Energy said today the Court of Queen's Bench of Alberta has extended it bankruptcy protection through 4 June. The company filed for bankruptcy in February and had already recieved a pair of extentions, the last

Marathon ties up Kumawa PSC

By Upstreamonline.com May 5th, 2009 - PERMALINK

US independent Marathon Oil and Indonesia Kumawa Energy have sealed into a production sharing contract with the Indonesian government for a combined 49% stake in the Kumawa Block, off Indonesia. Co-bidder Komodo Energy, a subsidiary of Black Gold Energy,

Ion bags Mexican treble

By Upstreamonline.com May 5th, 2009 - PERMALINK

Ion Geophysical has bagged a trio of jobs with Mexican oilfield services player Compania Mexicana de Exploraciones (Comesa). The jobs will see Ion deploy an 8000 station FireFly(R) system on three projects. The work covers survey design, data processing

Verenex spills red ink

By Upstreamonline.com May 5th, 2009 - PERMALINK

Verenex Energy said it sank into the red during the fiscal fourth quarter while reporting negative revenue for the first three months of this year. The Calgary-based explorer reported a loss of $2.6 million or 6 cents per share, reversing year-earlier

Shell says Anacortes units back; near full rates

By Interactive Investor International May 5th, 2009 - PERMALINK

NEW YORK, May 5 (Reuters) - Shell Oil Co said on Tuesday that all units are back up and near full rates at its 145,000-barrel per day Anacortes, Washington, refinery following an April 23 power outage. 'All units are back up and approaching full

Petroquest plunges into the red

By Upstreamonline.com May 5th, 2009 - PERMALINK

US independent PetroQuest Energy reported a net loss of $67 million, or $1.36 per share, available to common shareholders for the first quarter of the year, on the back of declining gas prices during the quarter. In the same period last year, Petroquest