LONDON EVENING STANDARD: Shell hit by Gulf setback: “SHELL, still reeling from the scandal of its overstated reserves last year, today found its attempts to look for new oilfields around the world has hit problems in the Gulf.”: “Shell is a 34% investor in Petroleum Development Oman… the country's government has moved to bring in Occidental Petroleum as a co-investor, ordering Shell to hand over technical and geological data.” (ShellNews.net) 26 April 05
Business: City Editor: Chris Blackhurst
SHELL, still reeling from the scandal of its overstated reserves last year, today found its attempts to look for new oilfields around the world has hit problems in the Gulf.
Shell is a 34% investor in Petroleum Development Oman, which is pumping oil from the country's 2.4 billion-barrel Mukhaizna field. But the country's government has moved to bring in Occidental Petroleum as a co-investor, ordering Shell to hand over technical and geological data. The Omani government wants to raise production in the field after months of falling output. The field produces heavy oil that is thicker than crude, harder to refine and worth less on the international market.
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