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June 6th, 2004:

Mail on Sunday: Chairman Jeroen van der Veer in frame over Shell scandal – could lead to 20 years in jail

Mail on Sunday: Chairman Jeroen van der Veer in frame over Shell scandal – could lead to 20 years in jail

Patrick Tooher,

6 June 2004

SHELL chairman Jeroen van der Veer could face criminal prosecution in the US after signing accounts that massively overstated oil and gas reserves.

The revelation is another blow to Shell. Throughout the reserves fiasco, it has presented van der Veer as Mr Clean.

Van der Veer is bound to be questioned again about his role in the scandal when he meets leading shareholders this week.

Financial Mail has established that van de Veer, ex-chairman Sir Philip Watts and former finance director Judy Boynton put their names to statements required by the Sarbanes-Oxley Act. The Act came into force in 2002 after the WorldCom and Enron scandals. 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.

Why liquified natural gas could spell an end to the Age of Oil

The Sunday Telegraph: Why liquified natural gas could spell an end to the Age of Oil

Sunday 06/06/2004

It may sound like an unorthodox opinion for an oil industry executive to hold, but Malcolm Brinded, the head of exploration and production at Royal Dutch/Shell, predicts that gas could overtake oil as the global number one fuel of choice by 2025.

Recent soaring crude prices on the back of concerns over the security of supply – last week’s agreement between Opec ministers to hike production has done little to dampen prices – have only underlined how volatile the oil market can be. According to many, therefore, there could be no better time for gas to make its case. 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.

Miami Herald Tribune: Station owners facing losses in sales

Miami Herald Tribune: Station owners facing losses in sales

BY PATRICK DANNER

[email protected]

Posted on Sun, Jun. 06, 2004

While some Shell and Texaco dealers’ fuel sales have returned to normal levels, others claim sales are still off.

The pumps are back on at South Florida Shell and Texaco outlets, but station operators are still feeling the pain from a holiday weekend with no sales.

Fuel-quality problems forced Shell and Texaco station operators to suspend sales anywhere from 1 ½ to four days beginning May 28, putting a huge crimp in station revenues over one of the busiest times of the year for gas retailers. 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: West looks to Russia for a crisis solution

The Observer: West looks to Russia for a crisis solution

Sunday June 6, 2004

With vast reserves of untapped oil, and the right level of investment, President Putin may be the person who comes riding to the rescue, says Conal Walsh

Could Vladimir Putin bail us out? Russia’s president might take some grim satisfaction from the mounting oil crisis. High prices have underpinned the country’s booming economy in recent years: oil and gas represented 25 per cent of the Russian economy last year. The last thing the Kremlin wants is cheap fuel.

Well, not too cheap, anyway. If a genuine oil shortage took hold, few would suffer more than the tens of millions of Russians shivering in some of the coldest places on Earth. And there quickly comes a point where a crisis-struck, cash-strapped Western economy threatens Russia with a recession of its own. 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: Whose eyes are on Cairn Energy?

The Observer: Whose eyes are on Cairn Energy?

Sunday 6 June 2004

Is Cairn Energy about to become another British oil exploration and production company doing so well that it will attract predatory interest from one of the majors?

We have seen it happen with Lasmo and Enterprise, medium-sized exploration companies, swallowed by larger competitors. Cairn was yesterday’s minnow, but now it is growing fast thanks to promising discoveries off the Indian coast.

A year ago, Cairn’s stock traded at £3, now the price is £11; several brokers reckon £15 is not an unreasonable target in the short term. Cairn’s shares soared last week after a successful drilling report at its ‘appraisal’ well in north Rajasthan. But the firm produces just 32,000 barrels a day. Enterprise notched up 200,000 a day before it was taken over by Shell for £3.5 billion in 2002. So isn’t Cairn’s share price too high? 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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