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June 18th, 2004:

Daily Express (Malaysia): Shell’s assurance on environmental care

Daily Express (Malaysia): Shell’s assurance on environmental care

Posted 18 June 04

Kota Kinabalu: Shell Malaysia will continue to work closely with the local communities on environmental care, assured its General Manager for Corporate Affairs Lt. Col (Rtd) Wahiruddin Abdul Wahid.

“Shell Malaysia continually explores opportunities to work with like-minded organisations in pursuit of sustainable development programmes such as this, which aim to impress our younger generation the importance of environmental conservation,” he said.

He was speaking at the presentation of the company’s contribution of RM20,000 to fund the Anugerah Sekolah Rakan Alam Sekitar (SERASI) Sabah, a joint programme with the Department of Environment (DOE), Education Department, Environment Protection Department, Environmental Action Committee (EAC) and Kota Kinabalu City Bird Sanctuary (KKCBS), at the Tourism, Culture and Environment Ministry in Wisma Tun Fuad Stephen here on Friday. read more

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Shell confirms oil spill in south-eastern Nigeria state

channelnewsasia.com: Shell confirms oil spill in south-eastern Nigeria state

18 June 04

LAGOS : The Anglo-Dutch oil giant Shell said that it has sent a clean-up team to try to contain an oil slick which had been coursing from a sabotaged pipeline in southern Nigeria for more than two weeks.

The firm said in a statement received here that its engineers on June 1 had been prevented from getting to the scene of the disaster in Imo State by a violent demonstration by local youths.

“The spill investigation … confirmed that the pipeline leak was caused by sabotage as a result of drilled hole and hacksaw cut,” Shell said in a statement signed by its spokesman, Don Boham. read more

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Shell Delivers First Gas From Malaysia’s Serai Project

Yahoo.com: Shell Delivers First Gas From Malaysia’s Serai Project

Friday June 18, 4:40 PM

SINGAPORE (Dow Jones)–Shell Malaysia has begun delivering natural gas from Malaysia’s offshore Serai field to the country’s giant liquefied natural gas plant in Sarawak state, the company said Friday.

Shell Malaysia, a unit of Royal Dutch/Shell Group (RD), is supplying 300 million cubic feet a day of gas from upstream block SK-8 to Shell’s M3 and E11 gas production facilities.

The first gas was delivered June 9, the company said.

Serai was discovered in 1993 as part of the M3 facility that supplies gas to MLNG Tiga – the third of three production units in Malaysia’s 23 million ton-a-year LNG complex, the world’s largest by capacity. read more

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The Independent: Shell hints at abolishing its dual board

The Independent: Shell hints at abolishing its dual board

By Michael Harrison, Business Editor

18 June 2004

Royal Dutch/Shell was forced yesterday to give shareholders an update of its review into the way the group is governed, confirming for the first time that the abolition of its antiquated dual board structure is one of the options under active examination.

The oil giant also disclosed for the first time the composition of the steering committee carrying out the review and said it planned to make its conclusions public in November.

Shell went on to announce that the priority shares held in its Dutch half – seen by many as a poison pill defence against takeover – are to be abolished from next April when a new code of corporate governance takes effect in the Netherlands. read more

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Daily Telegraph: Getting specific

Daily Telegraph: Getting specific

City diary

Edited by Edmund Conway (Filed: 18/06/2004)

On Wednesday I asked Shell whether Sir John Kerr would be running the review of its corporate structure. No, said the company. Yesterday he emerged as the man in charge. Shell’s explanation is that Kerr is chairman of the steering group, but not the working group. Silly me.

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.

Daily Telegraph: Shell plans to overhaul dual board structure

Daily Telegraph: Shell plans to overhaul dual board structure

By Christopher Hope, Business Correspondent (Filed: 18/06/2004)

The Dutch directors of Shell will lose their right to block a takeover of the oil and gas giant under proposed changes to its structure.

Shell has also confirmed for the first time that it is considering adopting a unified board.

Shell’s dual structure – it is 60pc-owned by Royal Dutch and 40pc owned by Shell Transport and is run by two boards – has come under fire since Shell announced in January that it had “lost” 20pc of its proved oil and gas reserves. read more

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The Guardian: Shell to scrap its takeover defences

The Guardian: Shell to scrap its takeover defences

Terry Macalister

Friday June 18, 2004

A “poison pill” that has deterred predators from making a bid for Shell is to be scrapped under a proposal to be put to shareholders at the company’s annual meeting next year.

The Dutch side of the business is protected via a system of priority shares, the removal of which could trigger takeover interest in the troubled oil group, said analysts.

The plan to abolish this defence mechanism, which is common in Dutch firms but little used in Britain, was revealed alongside other details of the company’s review of corporate governance published yesterday. 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 ponders merger of its companies

The Times: Shell ponders merger of its companies

By Carl Mortished, International Business Editor

June 18, 2004

SHELL is considering appointing a chief executive and merging its two separate businesses, Royal Dutch Petroleum and Shell Transport & Trading, for the first time in its century-long history.

It also emerged yesterday that it will reveal the name of its new finance director before the group’s annual meeting on June 28, and that to appease critics of the group’s tradition of internal hiring, the new chief financial officer is likely to be from outside Shell. read more

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Hostility to oil giant abates

FT.com site: Hostility to oil giant abates

By Sundeep Tucker in London

Jun 17, 2004

After weeks of mounting investor demands to reveal details of its governance review, the lid finally flew off the Shell pressure cooker on Thursday.

A series of meetings between Shell executives and investors during the past few weeks produced deadlock over the latter’s key demand: that the review be transparent. Investors raised the stakes this week when Calpers, the giant US pension fund, complained in a letter to the FT about the secrecy surrounding the review. read more

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Lex: Royal Dutch/Shell 17 June 2004

FT.com site: Lex: Royal Dutch/Shell

Jun 17, 2004

Posted 18 June 04

Lord Oxburgh, Shell Transport & Trading’s chairman, has voiced his fears for the planet unless something is done about greenhouse gas emissions. Shareholders must hope he takes as seriously their fears for Royal Dutch/Shell’s long-term future health unless something is done about the group’s corporate structure. The feeling remains that Shell is being dragged, kicking and screaming, into divulging basic information about its internal governance review, but it must be given credit for the concessions made. read more

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Shell far too big a bite for predators

Financial Times: Shell far too big a bite for predators

James Boxell Sheila McNulty

FT.com site; Jun 17, 2004

Posted 18 June 2004

While the proposed removal of Royal Dutch’s priority shares opens the door to a takeover of the Anglo-Dutch parent company in theory, transforming this into a reality is extremely unlikely, according to industry analysts and investors.

Two European energy groups have run the rule over Royal Dutch/Shell, but both concluded it was too much to take on.

Jon Rigby, analyst at Commerzbank, says he “wouldn’t have thought it even registers as a likely threat, the shares are back at the levels they were before January [when the overbooking of proved reserves was first revealed]”. read more

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Priority shares held Shell in an iron grip

Financial Times: Priority shares held Shell in an iron grip

By James Boxwell

FT.com site; Jun 17, 2004

Posted 18 June 2004

No one thought it would happen, at least not this soon. Yet Royal Dutch/Shell’s decision to abolish its priority share structure, which allows the Dutch half of the business to block any unwelcome takeover approach, marks a considerable concession on behalf of the company’s management.

The Royal Dutch Priority Shares Foundation was set up in 1968 with the simple aim of protecting the company from predators. But, over time, the Foundation has come to exert power not just over any potential bid, but over management of the company itself. read more

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Planning strengths weakened by mistakes

Financial Times: Planning strengths weakened by mistakes

By Michael Skapinker

Published: June 17 2004 21:36 | Last Updated: June 17 2004 21:36

Posted 18 June 2004

Observers of management theory and practice have long held Shell in high regard. Few other companies have produced as many influential management writers and thinkers. Most were based in Shell’s planning department, where they developed techniques that enabled the company to foresee the 1974 oil shock and the collapse of the Soviet Union.

The central figures in the department – people such as Pierre Wack, Peter Schwartz and Arie de Geus – made their mark on the world outside Shell with widely read articles and books. 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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