Turkey wants Caspian oil pipeline

Article Abstract:

Turkey stays put in its decision to establish Ceyhan, Turkey, its port in the Mediterranean region, as a primary outlet for the transportation from Azerbaijan, Russia, of Caspian oil. Burhan Kara, the maritime-affairs minister of Turkey, cited that Turkey implemented more stringent regulations on tanker and ship navigation that passes through the Bosporous, a connection between the Mediterranean and the Black Sea. Turkey's actions come amidst Azerbaijan's imminent issuance of a decision on the pipeline route that it will primarily utilize for its oil-exporting efforts.

Comment:

Turkey: Country seeks to establish Ceyhan as a primary outlet for the transportation from Azerbaijan, Russia, of Caspian oil

International economic relations, Turkey

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Shell Group's net income plunges 17%

Article Abstract:

Royal Dutch/Shell Group, a manufacturer of petroleum products, has posted $1.61 billion in net income for the second quarter of 1998, a 17% decline from $1.93 billion in net income during the same period in 1997. The drop in the firm's income was spurred by the unfavorable prices of crude oil in the world market. Industry analysts also attributes the company's weak financial performance in the second quarter to the effects of the regional currency crisis in Asia, wherein Shell maintains vast holdings, coupled with the failure of management to meet performance goals.

Comment:

Posts $1.61 bil in net income for second quarter of 1998, a 17% decline from $1.93 bil during same period in 1997

Netherlands, Sales, profits & dividends

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Shell suggests joint Nigeria energy plan

Article Abstract:

The Royal Dutch/Shell Group is proposing a joint venture with Elf Aquitaine SA, ENI SpA, and the government of Nigeria. The joint venture would involve an integrated development plan to exploit Nigeria's oil and gas reserves. The proposal's elements are currently at different stages of discussions and development. However, Shell is attemtping to link the elements together and form an integrated structure.

Comment:

Proposing a oil and gas joint venture with Elf Aquitaine SA, ENI SpA, and the government of Nigeria

Strategy & planning, PETROLEUM AND COAL PRODUCTS, Nigeria, Planning, Petroleum industry, Abstract

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