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May 23rd, 2004:

Shell, JV partners start oil, gas production from Llano field in Gulf of Mexico

Oil & Gas Journal: Shell, JV partners start oil, gas production from Llano field in Gulf of Mexico 

 

By OGJ editors

Posted 23 May 04

 

HOUSTON, Shell Exploration & Production Co. and its joint venture partners have brought oil and natural gas on production from Llano field on Garden Banks blocks 385 and 386 in the deepwater Gulf of Mexico.

 

Llano field, which lies about 200 miles southwest of New Orleans in about 2,600 ft of water, is producing 10,500 b/d of oil and 26 MMcfd of gas from a single well through a subsea system tied back 11.5 miles to Shell’s Auger tension-leg platform. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell gives Watts a £1m farewell

thisisLondon.com: Shell gives Watts a £1m farewell read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Sunday Telegraph: Corporate governance? Buy British

The Sunday Telegraph: Corporate governance? Buy British

 

By Tony Jackson (Filed: 23/05/2004)

 

Corporate scandal, one might have thought, was a relic of the bubble years: a folly of the late 1990s, now being paid for at leisure. Not a bit of it. Across the Atlantic, at least, it is still going strong. And British companies risk being caught in the fallout. 

 

Consider some of the news from the past week alone. Dayton Power and Light, a US utility, has abruptly lost its chairman, chief executive and finance director over alleged fiddling of bonuses and expenses. And at Nortel, the giant Canadian telecoms manufacturer, 157 managers and directors – count them – have been barred from trading in the company’s stock. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Sunday Telegraph: Shell gives Watts a £1m golden farewell

The Sunday Telegraph: Shell gives Watts a £1m golden farewell

 

By Sylvia Pfeifer and Robert Peston (Filed: 23/05/2004)

 

Sir Philip Watts, the disgraced former chairman of Royal Dutch/Shell who was sacked by the oil giant in March, has received a payoff of just under £1m. 

 

Like all Shell directors, Watts was on only three months’ notice, but the board felt the payoff should recognise his long service. One director said: “The norm is that you get a year when you retire. Some of us felt that was too much and that he should sue us if he wanted more. But that is not the Shell way.” read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Observer: Amec and Koreans in $1bn Iraq deal

The Observer: Amec and Koreans in $1bn Iraq deal

Oliver Morgan

Sunday May 23, 2004

Amec, the British engineering and services group, has signed an agreement with the state-owned South Korean oil company to develop oil production in Iraq.

The Korea National Oil Company (Knoc) wants to invest up to $1 billion in Iraq in order to establish itself there, along with western oil companies such as Shell, which have said they plan to move in as soon as circumstances permit.

Iraq has the world’s second highest oil reserves, behind Saudi Arabia.
read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Sunday Times: Business Letters

The Sunday Times: Business Letters

Posted 23 May 2004

IN Irwin Stelzer’s article last week was the line “The Saudis have excess capacity and have talked about opening the valves, but have not actually done so.”

According to BP’s Statistical Review of World Energy June 2003, Saudi oil production peaked in 1997 at 9,370,000 b/day, since when it has declined to 8,680,000 b/day in 2002. The big question therefore is whether they can actually raise production. We should not have long to wait before it is clear whether Matthew Simmons, Houston energy investment banker, is right when he says production from the huge Ghawar field is failing.
read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Sunday Times: The only way is up for oil prices

The Sunday Times: The only way is up for oil prices

 

By Dominic Rushe

May 23, 2004

 

ACROSS America the average price of regular petrol passed $2 (€1.66) a gallon last Monday. To outsiders, American fuel still looks laughably cheap. Aquafina, a popular bottled water, costs about $2.50 a gallon. But this is a big country with a bad train system where people and goods are transported long distances in big cars and trucks.

 

Pump prices have risen by 28% since January, and odds are they will keep rising. The consequences are far from funny. Expensive petrol is a national disaster. America’s motor industry is already feeling the pinch. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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