Royal Dutch Shell Plc .com Rotating Header Image

September 24th, 2004:

Repsol, Shell sign 4 bln usd gas contract with Iran govt – report

Sep 24th, 2004
by John Donovan.
No comments yet

AFX Europe (Focus): Repsol, Shell sign 4 bln usd gas contract with Iran govt – report

Posted Sept 24 2004

MADRID (AFX) – Repsol YPF SA and Royal Dutch/Shell have reached an agreement with the Iranian Government to invest 4 bln usd in the extraction and marketing of natural gas from the country, El Pais reported without naming a source.

El Pais cited unnamed sector sources as saying that the agreement covers the construction of two gas platforms in the Persian Gulf and their corresponding processing and storage installations on the mainland, with the aim of producing 7 mln tonnes of LNG per year. 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.

Market in need of a ‘most probable’ reserve estimate: By Eric Knight

Sep 24th, 2004
by John Donovan.
No comments yet

Financial Times: Letters: Market in need of a ‘most probable’ reserve estimate: By Eric Knight:

Posted 24 Sept 04

From Mr Eric Knight.

Sir, The reclassification of 23 per cent of Shell’s proved reserves this year cast doubt on both Shell’s governance and the longevity of its reserves. The need to reform Shell’s structure now appears genuinely to have been accepted. Of equal importance, however, is the need to restore confidence in Shell’s reserves.

Oil and gas recoverable from both discovered and undiscovered deposits is known as a company’s resource base. Exploration, acquisitions and technological advancement increase this resource base and are a key indicator of long-term potential. Reserves, which account for part of the resource base, are sub-divided into “possible”, “probable” and “proved”, in order of increasing conservatism. 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-shocked

Sep 24th, 2004
by John Donovan.
No comments yet

Financial Times: Observer: Shell-shocked

The chairman of the Anglo-Dutch oil giant told yesterday’s strategy meeting that things had got so bad that even those French upstarts at Total had been rumoured to be considering a bid.

Posted 24 Sept 04

Pity poor Jeroen van der Veer, who has had to watch the reputation of his beloved Royal Dutch/Shell take such a pounding since the start of the year. The chairman of the Anglo-Dutch oil giant told yesterday’s strategy meeting that things had got so bad that even those French upstarts at Total had been rumoured to be considering a bid.

This would never have happened in the good old days before the reserves scandal and clearly showed how much work Shell has to do to restore its battered credibility, van der Veer said. 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’s service efficiency scheme to boost jobs

Sep 24th, 2004
by John Donovan.
No comments yet

Business Times (Malaysia): Shell’s service efficiency scheme to boost jobs

“The official was asked to comment on a news report posted on the rediff.com’s website recently which said that Shell is cutting 600 to 800 IT jobs in the US and relocating them offshore, mainly to India and Malaysia.”

Sep 24, 2004

THE Royal Dutch/Shell group does not outsource its information technology (IT) works to Malaysia but has and will transfer the jobs under its service efficiency programme, providing a boost for the locals to find more jobs.

An official with the company said jobs that have and will be transfered to Malaysia are infrastructure-related, such as applications hosting like server support and first level help-desk activities, including password resets and access managment.

Cyberjaya-based Shell Information Technology International SITI Sdn Bhd alone will see its staff strength increase from the current 1,100 to 1,200 people by the end of the year. 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 to spend $45bn over three years

Sep 24th, 2004
by John Donovan.
No comments yet

Financial Times: Shell to spend $45bn over three years

“Royal Dutch/Shell intends to spend $45bn over the next three years as it looks to repair the damage caused by its oil reserves scandal.”: “They needed to show whether they had the right people in charge to fix things. I think they have failed dismally here.”

By James Boxell in London

Posted 24 September 04

Royal Dutch/Shell intends to spend $45bn over the next three years as it looks to repair the damage caused by its oil reserves scandal.

The Anglo-Dutch oil group, which has been forced to cut levels of proved reserves by more than 20 per cent this year, said at its annual strategy meeting yesterday that most of the cash would be spent on oil exploration and production.

However, analysts were unhappy about the lack of detail in Shell’s plans to boost production over the next few years. 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.

Total tiptoes to Russia

Sep 24th, 2004
by John Donovan.
No comments yet

Financial Times: Total tiptoes to Russia

“Quite simply, Total was envisaging a bid for its larger but troubled oil rival Shell. Last week, Mr Desmarest poured cold water on the idea, stating he was not interested in big acquisitions.”: “To qualify for membership of the club of super oil majors, an American dimension is even more necessary than a Russian one. There is an easy way to achieve this: merging with a debilitated Shell before it recovers or is taken over by another rival.”

By Paul Betts

Published: September 24 2004

Total boss Thierry Desmarest is gaining a reputation as the oil industry’s safest pair of hands. Yesterday it was the turn of ratings agency Standard & Poor’s to wax lyrical about the world’s fifth-largest oil group.

Affirming its AA long-term rating on the company’s offer to buy a 25 per cent stake in Russia’s Novatek, S&P praised the French group for its “massive and diversified hydrocarbon assets, a competitive cost structure, a conservative financial profile and policy, and significant financial flexibility”. 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 supertanker steers into deeper waters

Sep 24th, 2004
by John Donovan.
No comments yet

FROM OUR SHELL NEWS ARCHIVE SEPT 2004

The Independent: Michael Harrison’s Outlook: Shell supertanker steers into deeper waters

“brotherly love has been notable for its complete absence inside the South Bank politburo, where the motto has been stab someone in the back before you are made to walk the plank yourself.”: Judging by the reaction in the City to the company’s strategic review, investors are not overflowing with the milk of human kindness either.”

Posted 24 September 2004

“Let brotherly love continue”, read the gilded inscription above the doorway of the livery hall where Shell yesterday unveiled its latest version of what passes for a strategy. Chance would be a fine thing. Far from continuing, brotherly love has been notable for its complete absence inside the South Bank politburo, where the motto has been stab someone in the back before you are made to walk the plank yourself.

Judging by the reaction in the City to the company’s strategic review, investors are not overflowing with the milk of human kindness either. The truth is that Shell will not begin to emerge from the black cloud which enveloped it in January until it has fundamentally changed the way the business is run and governed. That is still some months away and no amount of management gobbledegook about raising performance bars and the like, of which there was plenty on offer yesterday, will make much of a difference in the meantime. 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.

Tax Bill Approval Means Boost For Wind Energy Cos

Sep 24th, 2004
by John Donovan.
No comments yet

THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: UPDATE: Tax Bill Approval Means Boost For Wind Energy Cos

“The tax credit should also push forward projects sponsored by companies like Shell Wind Energy, which is owned by Royal Dutch/Shell Group”

DOW JONES NEWSWIRES

Posted 24 September 2004

By Maya Jackson Randall

WASHINGTON — Approval of a multi-billion dollar tax bill is likely to boost the development of wind power projects sponsored by companies such as Florida Power & Light (FPL).

Several utilities invested in wind energy projects in 2003 but this year placed those projects on hold until legislators agreed to extend a federal tax credit for wind energy production.

A provision reauthorizing the expiring credit is part of the $146 billion tax bill, poised for approval in the House and Senate on Thursday. 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 Dutch/Shell, Repsol and the Iranian Government

Sep 24th, 2004
by John Donovan.
No comments yet

The Times: Need to Know: “Royal Dutch/Shell and Repsol, the oil and gas giants, have reached a project framework agreement with the Iranian Government…” 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.

Jeroen van der Veer pumping jargon but not profits

Sep 24th, 2004
by John Donovan.
No comments yet

The Times: Pumping jargon but not profits

“…there is even a new mantra, Enterprise First, with which to goad the staff into “top-quartile performance”.”

By Carl Mortished

Posted 24 September 2004

“WE WILL strive to make Shell a different company,” Jeroen van der Veer, Shell’s chairman told the City yesterday. He promised better leadership, more accountability and teamwork and there is even a new mantra, Enterprise First, with which to goad the staff into “top-quartile performance”.

Little was said about how the hole revealed in January is to be filled. The biggest offender in the reserves debacle was Nigeria but precious little was said yesterday about how those barrels are to be recovered. 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’s great lucky break was that its annus horribilis

Sep 24th, 2004
by John Donovan.
No comments yet

The Times: COMMENT: Well, well, well: “Shell has made six “significant finds” since the start of last year and they might have been involved in more had it not, famously, sold for a pittance its stake in the fruitful Mangala field in India to Cairn.”: “…Shell’s great lucky break was that its annus horribilis has coincided with the strongest oil market for more than 20 years.

Posted 24 September 2004

Favoured by a lucky break, Shell has prioritised discovering new reserves. As well it might. By Mike Verdin

The world of the oil giants is a real zoo. Just look at Shell, which has suffered a beastly few months.

First the company dropped a mammoth clanger. Then it ditched its top dog. Now the oil giant has put out an order for big cats.

Since January, Shell has ditched 20 per cent of proven stocks, and axed its chairman, Philip Watts. Now the big cats hold the solution to the company’s reserves problems. 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.

Eerie echo for new Shell boss

Sep 24th, 2004
by John Donovan.
No comments yet

London Evening Standard: Eerie echo for new Shell boss

“Whether van der Veer turns out to be the leader Shell needs is not yet clear.”: “another faceless unknown emerged from the depths of a huge oil company to explain why the business was on its knees, why the board had decided to fire the chairman and what he, as the new man in charge, planned to do to put things right.”

Anthony Hilton,

24 September 2004

WATCHING new Shell boss Jeroen van der Veer twist in the wind in front of sceptical analysts and an occasionally hostile Press this week, as he outlined his plan to restore the fortunes of this huge oil company, was eerily reminiscent of a scene acted out in similar circumstances just a few hundred yards away, but in June 1992.

On that earlier, celebrated occasion, another faceless unknown emerged from the depths of a huge oil company to explain why the business was on its knees, why the board had decided to fire the chairman and what he, as the new man in charge, planned to do to put things right. 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.

Jeroen van der Veer, Democratic Dutchman with a charisma bypass

Sep 24th, 2004
by John Donovan.
No comments yet

The Guardian: Democratic Dutchman with a charisma bypass

“One of his endearing traits is to ask his exploration director Malcolm Brinded, a more natural performer it must be said, to tell him if he gets things wrong: “Malcolm, check me if I drop the ball,” van der Veer said at one stage.”: “An outsider would be better suited for that post, especially as van der Veer’s name comes up, along with other Shell directors, in class actions in the US. It must be hard to focus on the way forward with the cloud of the past hanging over you…”

Terry Macalister

Posted 24 September 2004

In the halcyon days pre-January, Shell used to summon analysts and the media to its landmark tower overlooking the Thames.

Those occasions were presided over by former chairmen Sir Philip Watts or Sir Mark Moody-Stuart with a certain hauteur.

Now, the trouble-prone group prefers to keep oil-watchers out of its headquarters, and yesterday used the Plaisterers Hall near the Barbican for what it had billed as a major strategy briefing.

Another break with the past is that current chairman Jeroen van der Veer is a democratic Dutchman who could not do smugness if he tried. 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 evacuates staff from Nigerian delta conflict

Sep 24th, 2004
by John Donovan.
No comments yet

AlertNet.Org: Shell evacuates staff from Nigerian delta conflict

“Anglo-Dutch oil giant Royal Dutch/Shell has evacuated non-essential staff from two flow stations in the Niger delta, where Nigerian government forces have been attacking rebel militia, a company spokesman said on Friday.”

By Tom Ashby

24 Sep 2004

LAGOS, Sept 24 (Reuters) – Anglo-Dutch oil giant Royal Dutch/Shellhas evacuated non-essential staff from two flow stations in the Niger delta, where Nigerian government forces have been attacking rebel militia, a company spokesman said on Friday.

The decision was taken as a precaution after the company noted troop movements on Thursday around the installations at Soku and Ekulama, near Rivers state capital Port Harcourt, the spokesman added, and oil production has not been affected. 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 & Repsol Sign 4 Billion Dollar Natural Gas Deal With Iran

Sep 24th, 2004
by John Donovan.
No comments yet

payvand.com: Shell & Repsol Sign 4 Billion Dollar Natural Gas Deal With Iran

9/24/04

Madrid, Sept 23, IRNA — Iran signs a dlrs four billion contract with Spanish-Argentine oil giant Repsol YPF and Anglo-Dutch Shell for production of natural gas in the Persian Gulf.

Spanish daily El Pais wrote on Thursday that under the contract, the two companies will start operations in Iran as of 2010 for extraction and sale of natural gas.

National Iranian Oil Company (NIOC) will be a party to the contract under which the bidders will set up two oil platforms in the Persian Gulf as well as installations for refining and storage of oil. 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 evacuates staff from Nigerian conflict

Sep 24th, 2004
by John Donovan.
No comments yet

Reuters: Shell evacuates staff from Nigerian conflict

“Multinational oil giant Royal Dutch/Shell has evacuated non-essential staff from two oil production plants in Nigeria where troops are fighting a major offensive against rebel militia, a spokesman said.”

By Tom Ashby

Fri 24 September, 2004

LAGOS (Reuters) – Multinational oil giant Royal Dutch/Shell has evacuated non-essential staff from two oil production plants in Nigeria where troops are fighting a major offensive against rebel militia, a spokesman said.

The decision was taken as a precaution after the company noted troop movements on Thursday around the Soku and Ekulama flow stations, which gather oil from wells near the oil city Port Harcourt, he added. Oil production has not been affected. 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.
← Earlier Posts
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.