royal dutch shell plc

Iraq and Royal Dutch Shell PLC on Monday will formally launch plans to invest in a joint venture to tap natural gas in southern Iraq, a government spokesman said.

Iraq's Cabinet approved an initial gas agreement Sunday between the Oil Ministry and Royal Dutch Shell PLC to invest in a joint venture to tap natural gas in southern Iraq, a government statement said.

Bolivia has reached an agreement in principle to purchase the local operations of energy company Royal Dutch Shell PLC as part of President Evo Morales' nationalization push.

"There are many in the market who think these prices are as good as it gets and are positioned to see lower prices but we continue to see one-off supply issues keeping prices high"

Oil prices steadied Wednesday after hitting a record near $123 a barrel in the previous day's session on worries over supply disruptions.

"Theoretically, this would decrease the amount of money invested in oil as a hedge for the falling dollar."

Oil prices rose Monday, supported by weekend news of an attack on a Nigerian oil installation, but with gains limited by a stronger U.S. dollar.

Royal Dutch Shell PLC spokesman Precious Okolobo said Saturday that attackers hit a flow station belonging to Shell's joint venture in southern Nigeria and that some oil production had been shut down.