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Posts from ‘June, 2004’

sg.biz.yahoo.com: Shell New Zealand Approves Pohokura Gas Field

sg.biz.yahoo.com: Shell New Zealand Approves Pohokura Gas Field Edited Press Release Wednesday June 30, 5:56 PM LONDON (Dow Jones)–Shell New Zealand said Wednesday that it has formally given the green light to the development of the Pohokura gas field, when it signed off the Final Investment Decision (FID). Shell New Zealand Exploration and Production Commercial […]

AccountingWEB.com: Pension Funds Sue Shell Seeking Damages, Governance Changes

AccountingWEB.com: Pension Funds Sue Shell Seeking Damages, Governance Changes Posted 30 June 04 Two pension funds filed suit Friday against more than two dozen directors and officers of the Royal Dutch/Shell Group and their accounting and audit firms PricewaterhouseCoopers International and KPMG International. The suit follows the company downgrading its proven oil and natural gas […]

Expatica News: Shell: 85pc of written off reserves exist

Expatica News: Shell: 85pc of written off reserves exist 30 June 2004 AMSTERDAM — Shell chairman Jeroen van der Veer expects that 85 percent of the oil reserves the Anglo-Dutch energy company wrote off earlier this year will later be restored to the multinational’s accounts. The Dutchman said at a shareholders meeting in Scheveningen this […]

New York Times: Oil Firms Differ with on SEC Gas Reserves

New York Times: Oil Firms Differ with on SEC Gas Reserves By REUTERS Published: June 29, 2004 Posted 30 June 04 LONDON/OSLO (Reuters) – The oil and gas reserves controversy sparked by Royal Dutch/Shell’s shock January downgrade took a new turn on Tuesday as two of Shell’s partners in a Norwegian gas field differed over […]

Business Day: Grindrod, BP and Shell in R350m BEE deal

Business Day: Grindrod, BP and Shell in R350m BEE deal By Lynn Bolin 30 June 04 Listed South African shipping group Grindrod Ltd (GND) and its subsidiary Unicorn Shipping have teamed up with global oil giants BP and Shell to facilitate a 350 million rand empowerment deal for black empowerment shipping group Southern Tankers. The […]

Shell Survives Shareholder Rebellion

Planet Ark: Shell Survives Shareholder Rebellion “Not only has Shell been overstating its oil reserves, it has exaggerated its social and environmental performance too” UK: June 30, 2004 THE HAGUE/LONDON – Embattled oil giant Royal Dutch/Shell survived a shareholder rebellion this week, but not before almost 40 percent of its Dutch stock was voted against […]

Ormen Lange highlights broader issues

Financial Times: Ormen Lange highlights broader issues “in the wake of the scandal at Royal Dutch/Shell” By James Boxell Jun 30, 2004 BP’s share of the Ormen Lange gas field is estimated to be worth the equivalent of 180m barrels of oil – a drop in the ocean for a company that yesterday confirmed it […]

BP has more in reserve

The Independent: BP has more in reserve “prompting CSFB to advise a switch out of Royal Dutch Shell” Tue 29 June 2004 By Phill Cozens, Stockmarket Correspondent BP improves 5p to 495p as it reports a 23 million barrel rise in proved reserves, prompting CSFB to advise a switch out of Royal Dutch Shell, 4p […]

Shell Says SEC Questioned 30 In Reserves Probe

The Wall Street Journal: Shell Says SEC Questioned 30 In Reserves Probe Investigators from the SEC and the Justice Department have teamed up in the probe” By ALMAR LATOUR, MARK LONG and CHIP CUMMINS Staff Reporters of THE WALL STREET JOURNAL June 29, 2004; Page A2 Posted 30 June 04 Royal Dutch/Shell Group said 30 […]

BP, Norsk-Hydro Differ in Booking Field’s Reserves

The Wall Street Journal: BP, Norsk-Hydro Differ in Booking Field’s Reserves By CHIP CUMMINS Staff Reporter of THE WALL STREET JOURNAL June 30, 2004; Page A2 LONDON — Further muddying the water for energy investors, two large European companies took drastically different tacks in booking reserves from the same natural-gas field after months of discussion […]

Investors stunned by Shell revelation

Daily Telegraph: Investors stunned by Shell revelation By Christopher Hope, Business Correspondent (Filed: 30/06/2004) Major shareholders in Shell, the Anglo-Dutch oil giant, yesterday reacted with astonishment to the news that Shell’s Dutch chairman knew there was a problem with its reserves two months before its British chairman was told. Aad Jacobs told shareholders at Royal […]