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Posts from ‘August, 2004’

Shell waives Czech refinery share option

Reuters: Shell waives Czech refinery share option Mon 30 August, 2004 Posted 31 August 04 PRAGUE (Reuters) – Royal Dutch/Shell says it will not exercise its option to buy extra shares in top Czech oil refinery Ceska Rafinerska, held by state-controlled group Unipetrol. Shell is the first of three Unipetrol partners in Rafinerska — the […]

Shell, Sinopec Launch Gas Station Venture

Forbes: Shell, Sinopec Launch Gas Station Venture “Royal Dutch/Shell and China Petroleum and Chemical Corp., have launched a joint venture to operate a network of about 500 service stations in eastern China’s Jiangsu province…” Associated Press 08.31.2004 Royal Dutch/Shell and China Petroleum and Chemical Corp., have launched a joint venture to operate a network of […]

Shell Abandons ‘Self First’ Bonus Culture

The Scotsman.com: Shell Abandons ‘Self First’ Bonus Culture “Shell was found by the Financial Services Authority in the UK and the Securities and Exchange Commission in the US to have committed market abuse and breached listing rules by misleading the market over the extent of its reserves.” By Nicky Burridge, Personal Finance Correspondent, PA News […]

Shell Sheds Refineries, Gas Stations

THE WALL STREET JOURNAL: Shell Sheds Refineries, Gas Stations “Even after this year’s headline-grabbing scandal over its oil reserves, most people still best know Anglo-Dutch oil company Royal Dutch/Shell Group by the scallop-shell logo”: “a lot fewer people will be seeing this iconic emblem in the future” Broad Plan Is Under Way To Help Boost […]

Shell EP Africa leadership to comprise 30% Nigerians…

Vanguard: Shell EP Africa leadership to comprise 30% Nigerians…New SPDC DMD appointed “challenging security situation in the Niger Delta as well as the rising incidence of crude oil theft, currently put at 50,000 per day.” By Hector Igbikiowubo Tuesday, August 31, 2004 SHELL Exploration and Production (EP) Africa leadership is to be made up of […]

Sinopec denies quitting project

Financial Times: Sinopec denies quitting project “The company also announced a $187m joint venture with Royal Dutch/Shell to operate 500 petrol stations in eastern China.” By Enid Tsui in Hong Kong Published: August 31 2004 Chen Tonghai, chairman of Sinopec, one of China’s big three oil companies, yesterday denied that his company had withdrawn from […]

Boards beware: the road to Shell was paved with ‘good’ intentions

Daily Telegraph: Boards beware: the road to Shell was paved with ‘good’ intentions “This being Shell, everything was systematic, and was approved at the highest level, and had been going on for years.”: “On top of all this comes the loss to Shell’s reputation – its ultimate hidden reserve.”: “It will have to be rebuilt […]

AUGUST 2004 ROYAL DUTCH SHELL NEWS

AUGUST 2004 ROYAL DUTCH SHELL NEWS Sunday 1 August, 2004 The Sunday Times: Special Report: In the dock: City watchdog accused of incompetence; “When it adopted an American-style settlement formula last week and allowed Shell to pay its fine without admitting guilt, the regulator set a precedent.” The Sunday Times: Business Digest: “THE sale of […]

AllAfrica.com: Shell Plans $9bn Five-Year Investment

AllAfrica.com: Shell Plans $9bn Five-Year Investment “Coming at a time when there was some speculation about Shell’s future in Nigeria, this development is a resounding demonstration of Shell’s long-term commitment…” Mike Oduniyi This Day (Lagos) Posted 31 August 04 Moves Headquarters to Port Harcourt January Shell Petroleum Development Company (SPDC) is planning to invest another […]

Malaysia’s Shell Refining posts highest quarterly profit

Hydrocarbon Asia: Malaysia’s Shell Refining posts highest quarterly profit “Chairman Jon Chadwick said: “We are pleased with this back-to-back achievement, surpassing even the record profit for the first quarter this year.” Posted 30 August 04 SHELL Refining Company Bhd announced a net profit of RM175.3mil (US$1 = RM3.8) for its second quarter ended June 30, […]

Planet Ark: Shell in talks with China on Sakhalin gas deal

Planet Ark: Shell in talks with China on Sakhalin gas deal CHINA: August 30, 2004 SHANGHAI – Energy giant Royal Dutch/Shell is keen to sell liquefied natural gas LNG.L from its Sakhalin project to China, as it vies with rivals such as BP to tap the market’s potentially explosive growth. But the world’s third-biggest oil […]

Planet Ark: Russian Oil Project to Be Vetted for Whale Threat

Planet Ark: Russian Oil Project to Be Vetted for Whale Threat “the International Whaling Commission last month warned energy exploration could kill off the 100 or so remaining gray whales on the oil-rich shelf near Russia’s Pacific coast” SWITZERLAND: August 30, 2004 GENEVA – A top environmental group said last week it had agreed to […]

Shell Reserves Scandal: Retired Shell engineer played central role

FROM OUR AUGUST 2004 SHELL NEWS ARCHIVE Financial Times: Retired Shell engineer played central role “the company had been engaged in accounting manoeuvres since 1997-98, including a flawed internal audit function”;  “Shell had engaged as [group reserves auditor] a retired Shell petroleum engineer – who worked only part time and was provided with limited resources […]

Shell, Sinopec in China Retail Venture

New York Times: Shell, Sinopec in China Retail Venture “But Shell still lagged rival BP in the race for a piece of the lucrative Chinese market.” By REUTERS August 30, 2004 SINGAPORE (Reuters) – Royal Dutch/Shell Group(SHEL.L) said it would jointly operate 180 gas stations in China by the end of 2004, the second foreign […]