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September 11th, 2004:

HPCL eyes stake in Shell LNG project

Sep 11th, 2004
by John Donovan.
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The Telegraph (India): HPCL eyes stake in Shell LNG project: “Shell’s $700-million project, with a capacity of 2.5 million tonnes, will be commissioned by 2004.”

OUR SPECIAL CORRESPONDENT

Posted 11 Sept 04

Mumbai, Sept. 10: Hindustan Petroleum Corporation Ltd (HPCL) is keen on picking up an equity stake in the Hazira LNG project promoted by the Royal Dutch/Shell group.

The move is part of the company’s efforts to provide energy users alternative fuels like liquefied natural gas (LNG).

Sources said while HPCL may source LNG from Shell’s terminal, the corporation is also likely to supply petroleum products to Shell as the latter sets up retail outlets in the country. 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.

Royal wedding in Brunei: Shell allegedly bunged in 500,000 Brunei dollars

Sep 11th, 2004
by John Donovan.
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The Independent: btw: “The royal wedding in Brunei was quite a spectacle”: “The Asian wing of Royal Dutch Shell allegedly bunged in 500,000 Brunei dollars (about pounds 160,000)”

JOHN WALSH

Sep 11, 2004

The royal wedding in Brunei was quite a spectacle (the one-ton chandeliers each the size of the mother ship in Close Encounters of the Third Kind; the happy couple’s matching his’n’hers blue brocade outfits; the bride’s bouquet of diamonds and gold; the elderly, black-clad crones of honour), but what is really interesting is the rumour that the event was sponsored. Not by Hello! magazine (puh-lease – we are not Anthea Turner), but by local businesses. 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.

FSA chief hits right note on investor responsibility

Sep 11th, 2004
by John Donovan.
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The Scotsman: FSA chief hits right note on investor responsibility

“In the wake of a splurge of recent fines, particularly the record £17 million penalty on Shell for the oil giant’s reserves shortfall and cover-up, there have been those who have argued that it is the culpable directors who should bear the penalty, not the companies and investors.”

SCRUTINEER

MARTIN FLANAGAN

CITY EDITOR

Posted 11 Sep 2004

THE comments of the head of Britain’s financial regulator about who should suffer from financial penalties for corporate wrong-doing – companies and shareholders or the errant directors themselves – is timely.

In the wake of a splurge of recent fines, particularly the record £17 million penalty on Shell for the oil giant’s reserves shortfall and cover-up, there have been those who have argued that it is the culpable directors who should bear the penalty, not the companies and investors. 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 art of inflicting pain

Sep 11th, 2004
by John Donovan.
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Financial Times: Lombard: The art of inflicting pain

“A lively debate on the subject has ensued since the Financial Services Authority, the City policeman, fined Royal Dutch/Shell a record £17m for market abuse”

By Martin Dickson

Published: September 10 2004

How hard should you hit financial wrongdoers in their pockets, and what is the point of such fines anyway?

A lively debate on the subject has ensued since the Financial Services Authority, the City policeman, fined Royal Dutch/Shell a record £17m for market abuse – over the mis-statement of its proved oil reserves and breach of the quoted company listing rules, which demand the timely disclosure of price-sensitive information.

The fine was over four times the largest previously levied by the FSA, but fell far short of the £66m the company paid in the US to settle with the Securities and Exchange Commission. Some argued that the fine was not high enough, relative to the seriousness of the offence and the US action; others that it was too high, since the FSA would be doubly hurting the real victims of the abuse, namely Shell’s shareholders. 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.

R Dutch/ Shell to give no update of review

Sep 11th, 2004
by John Donovan.
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Financial Times: R Dutch/ Shell to give no update of review

“Six weeks ago, Shell, the world’s third largest energy group, revealed that its production was declining and that it was unable to find sufficient new sources of oil and natural gas to replace old fields.”

By Sundeep Tucker, Investment Correspondent

Published: September 11 2004

Royal Dutch/Shell has decided not to provide an update of its ongoing review into structure and governance when it unveils its revamped business strategy later this month.

The Anglo-Dutch group’s wide-ranging internal review, sparked by this year’s reserves debacle and management departures, is due to be concluded in November.

Last month, Jeroen van der Veer, group chairman of the Anglo-Dutch oil group, had signalled that Shell might release some details of the review alongside the unveiling of its latest strategy plan on Sept- ember 22. 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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