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Posts from ‘October, 2004’

OCTOBER 2004 ROYAL DUTCH SHELL NEWS

OCTOBER 2004 ROYAL DUTCH SHELL NEWS (Click on a headline to access that story) Friday 1 October, 2004 ChannelNewsAsia.com: Shell rejects report Tokyo forced pullout of East China Sea gas project:  “Anglo-Dutch oil giant Royal Dutch/Shell vigorously denied that its withdrawal from a politically sensitive gas project in the East China Sea was due to […]

All the worst Shell traits – secrecy, haughtiness, inertia

From our Shell News Archive Sunday 31 October, 2004 The fallout from the Shell reserves fraud continues… The Independent On Sunday (UK): Business View: Shell’s real location problem is finding more black stuff: “The misreporting of reserves scandal showed all the worst Shell traits – secrecy, haughtiness, inertia.”: “So what’s the hurry? Was it because […]

From our Shell News Archive: Saturday 30 October, 2004

From our Shell News Archive: Saturday 30 October, 2004 Financial Times: Look under the Shell: “One conspiracy theory doing the rounds yesterday was that those Dutch chaps now running Royal Dutch/Shell were more cunning than they first appear, in spite of the company’s inability to count reserves over several years.” FINANCIAL TIMES: Shell’s credit rating […]

DREADFUL DAY FOR SHELL SHAREHOLDERS, ESPECIALLY UK SHELL SHAREHOLDERS

FROM OUR OCTOBER 2004 SHELL NEWS ARCHIVE Friday 29 October, 2004 – A DREADFUL DAY FOR SHAREHOLDERS IN SHELL TRANSPORT AND TRADING COMPANY PLC The Times (UK): The Hague for head office: “ALTHOUGH it maintains otherwise, Shell is effectively going Dutch…”: “From May, the big decisions will be taken by a new board in The […]

Shell stuns City with revamp

From our October 2004 Shell News Archive London Evening Standard: Shell stuns City with revamp “The troubled group wants to draw a line under its devastating oil and gas reserves crisis earlier this year by creating a new £100bn holding company, Royal Dutch Shell Plc.”: “Buried deep in the results statement, Shell said it was […]

Royal Dutch/Shell to merge

From our October 2004 Shell News Archive Royal Dutch/Shell to merge Netherlands HQ ‘not a victory for the Dutch': “Yet Shell’s governance scheme wasn’t without a few surprises, chiefly that the headquarters will be based in The Hague, Netherlands along with two of the group’s three main businesses.” By Emily Church, Oct. 28, 2004 LONDON […]

Shell grant of $800,000 will fund informational materials on Louisiana wetlands

Press release from Shell Oil Company (USA) Shell Partners With The America’s WETLAND Campaign And The State Of Louisiana To Support ‘Eco-Cultural’ Tourism Initiative: Grant of $800,000 will fund informational materials on Louisiana wetlands 27 Oct 04 (CSRwire) NEW ORLEANS – Shell Oil Company last week announced that it has partnered with the America’s WETLAND […]

Shell chairman deeply ashamed about reserves fraud

London Evening Standard: Market Report: SPEAKING OUT “All of us are deeply ashamed about what happened about the reserves, but we are determined to regain our position. — Shell chairman Jeroen van der Veer on the oil giant’s attempts to put its misdemeanours behind it” read moreLike this:Like Loading…

BLOOMBERG: BP Third-Quarter Profit Rises 53% on Higher Prices

BLOOMBERG: BP Third-Quarter Profit Rises 53% on Higher Prices BP has overtaken Royal Dutch/Shell Group to become the second- largest oil company by market value, by making more than $100 billion of takeovers since 1999. Shell also lost its status after a January disclosure that it had overstated its oil and gas reserves for years.” […]

Shell in PR push for Sakhalin 2

Financial Times: Shell in PR push for Sakhalin 2 “The publication mirrors efforts by the embattled Shell elsewhere to stress its role as a responsible corporate citizen…”: “”The more a company does, the more it’s in trouble,” said an executive for a rival western energy group based in Moscow, commenting on the Sakhalin Energy document” […]

Tarnished Shell seeks to be born again

From our October 2004 Shell News Archive The Independent On Sunday (UK): Tarnished Shell seeks to be born again Tim Webb on the oil giant’s attempts to put scandal behind it and give itself a facelift: “Shell directors have spent the last year reading the newspapers about how bad they are,” he says. “The last […]

Ogoni is No Priority – Shell

allAfrica.com: Ogoni is No Priority – Shell “Shell Petroleum Development Company (SPDC) said yesterday it is not in a hurry to resume oil production in Ogoniland” This Day (Lagos) Mike Oduniyi Port Harcourt Posted 23 October 2004 Shell Petroleum Development Company (SPDC) said yesterday it is not in a hurry to resume oil production in […]

Shell apologises for bitumen meetings in Brussels probe

From Our October 2004 Shell News Archive Financial Times: Shell apologises for bitumen meetings in Brussels probe Royal Dutch/Shell said it regretted attending meetings with roadbuilders and bitumen suppliers. The apology came as it responded to charges from the European Commission of possible price-fixing in the Dutch bitumen market.”: Rein Willems, chairman of Shell in […]

Nigeria Grp Threatens Protest, Says Army Guards Shell Site

THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: Nigeria Grp Threatens Protest, Says Army Guards Shell Site “LAGOS (AP)–Nigerian activists Thursday accused oil giant Royal Dutch/Shell Group of backing new military deployments in the Niger Delta, threatening protests and giving the company a seven-day ultimatum to “stop further acts of hostility.”: The hanging of nine Ogoni leaders […]

Flexibility and diversity keep Shell LNG up to the challenge

Lloyds List: Flexibility and diversity keep Shell LNG up to the challenge “Shell is a partner in, and advisor to, six export plants which account for almost 40% of world LNG production. The group is playing a similar role in several new export projects under development, not least Sakhalin in Russia, and with a number […]

Shell’s Nuclear Past

Corporate Watch: Shell’s Nuclear Past “So close was their relationship with the nuclear establishment that the Division of Atomic Energy at the erstwhile Ministry of Supply was based at Shell-Mex House”: “Shell’s press department has been singularly reluctant to help us with this research.”: “They cannot tell us why they still own a share-holding in […]

The Age (Australia): Shell told to clean up oil leaks

The Age (Australia): Shell told to clean up oil leaks “The EPA has issued a soil and groundwater clean-up notice against Shell, warning that oil leaking from the company’s Corio refinery is threatening Corio Bay.”: “Compliance with the notice is expected to cost Shell “several millions of dollars a year…” By Kenneth Nguyen October 19, […]

Shell’s Jiffy Lube Nears Deal To Settle Consumer Lawsuits

From our October 2004 Shell News Archive THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: Jiffy Lube Nears Deal To Settle Consumer Lawsuits “It was just a straight rip-off for $1.25 every time someone came in,” said Scott R. Shepherd, a Pennsylvania attorney who sued the company”: “Jiffy Lube, a wholly owned subsidiary of Shell Oil Co…”: […]

The new Untouchables

From our October 2004 Shell News Archive Daily Mail (UK): The new Untouchables “Sir Philip Watts, former chairman of Shell, plainly hopes that the checks and balances of British corporate justice will save him from the hands of the Securities and Exchange Commission (SEC).”: “The quarrel has a hidden significance. Watts is personally under investigation […]

FSA urges tribunal to reject Shell boss appeal

Daily Express (UK): FSA urges tribunal to reject Shell boss appeal “The reserves crisis is being investigated by criminal authorities in the US, where Shell is facing civil actions for millions of pounds.” 19 Oct 2004 CITY watchdog the Financial Services Authority is urging an independent tribunal to dismiss an appeal by former Shell boss […]

The powers in the boardroom: Maarten van den Bergh

The Times: The powers in the boardroom “Van den Bergh was appointed group managing director of Royal Dutch/Shell in 1992. He left suddenly in 2000, saying he had grown tired of the endless travelling. His views on this year’s furore over Shell’s oil reserves are not known. It is not a subject that goes down […]

FSA bids to sink Shell man’s appeal

London Evening Standard: FSA bids to sink Shell man’s appeal “THE Financial Services Authority has sensationally asked an independent tribunal to block an appeal case launched by former Shell chairman Sir Philip Watts.”: “Watts’ outburst last month was the first time the oil executive had commented on the reserves scandal that has crippled Shell this […]

U.K. FSA Asks for Ruling on Ex-Shell Boss’s Challenge

BLOOMBERG: U.K. FSA Asks for Ruling on Ex-Shell Boss’s Challenge “Class-Action Ammunition: While Watts wasn’t identified by name in the FSA’s notice, it may provide ammunition in the class-action suits filed against him.”: “Watts, 59, asked for the tribunal to challenge the notice the FSA published when Shell agreed to pay fines of $150 million […]

Oil giants face price-fix charges

The Scotsman: Oil giants face price-fix charges “Shell, which is being investigated in relation to its Dutch operations, said that the firm had been co-operating fully with the investigation, but has yet to be informed of any decision.” Alastair Reed Posted Oct 17, 2004 EUROPEAN Union regulators are set to charge two global oil giants […]

Shell team effort raises over $2.9 million for United Way

CNW Telbeck (Canada): Shell team effort raises over $2.9 million for United Way “- Shell Canada, its employees and retirees announced a donation of $2,969,795 to United Way of Calgary and area today, the single largest United Way contribution in Alberta history.” 16 Oct 2004 CALGARY, CNW/ – Shell Canada, its employees and retirees announced […]

Shell Says To Help Iraq Oil Min Develop Gas Master Plan

THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: Shell Says To Help Iraq Oil Min Develop Gas Master Plan “Oil major Royal Dutch/Shell won approval from the Iraqi Oil Ministry to help develop a gas master plan, the Iraq project manager for Shell Exploration and Production said Friday.” DOW JONES NEWSWIRES Posted 16 Oct 04 LONDON — […]

EU to Charge Exxon, Shell in Cartel Probe, People Say

Bloomberg: EU to Charge Exxon, Shell in Cartel Probe, People Say “The European Commission, the EU’s Brussels-based regulatory arm, will charge the producers and consumers with colluding to fix prices for bitumen in the Netherlands, Belgium, Germany, Portugal and Spain, said people who declined to be identified.” Posted 16 Oct. (Bloomberg) — European Union regulators […]

Shell signs North America LNG deal

Financial Times: Shell signs North America LNG deal By James Boxell Published: October 15 2004 Royal Dutch/Shell has signed a deal to supply 37m tonnes of liquefied natural gas to Mexico and the US west coast, in what it claims will be the first export of Russian gas to North America. The gas, which will […]

Perils that lie in risk management

London Evening Standard: Perils that lie in risk management “…it is less than 10 years since Shell was vilified for its environmentally sensible proposal to sink the Brent Spar oil platform in the Atlantic, and thereby introduced the world to reputational risk.”: “Regulators, auditors, ratings agencies and even businessmen speak of little else these days. […]

Shell strikes US$6B deal to ship Russian liquefied gas to North America

Canadian Press: Shell strikes US$6B deal to ship Russian liquefied gas to North America “The deal is the first that would funnel Russian LNG to the United States, whose demand for natural gas is surging as domestic supply dwindles.” Thursday, October 14, 2004 MOSCOW (CP) – A consortium led by Royal Dutch/Shell Group that is […]

Strike threatens Nigeria’s oil production

The Guardian: Strike threatens Nigeria’s oil production “Trade unions in Nigeria yesterday threatened to extend a three-day general strike which has shut down much of the country and driven world oil prices to a record high.”: Union in world’s seventh-biggest exporter says it will shut down supplies if police harass protesters Rory Carroll, Africa correspondent […]

Nigerian union leaders threaten to extend strike over fuel prices

AP Worldstream: Nigerian union leaders threaten to extend strike over fuel prices “The general strike, which began Monday, was supposed to last four days and resume again in two weeks if fuel prices don’t come down. The move has already shut down businesses across the country and helped push world oil prices to record highs.”: […]

Shell kicks off multi-billion dollar asset sales

Reuters: Shell kicks off multi-billion dollar asset sales “Royal Dutch/Shell has kicked off auctions for two units worth several billion dollars, to move forward with its plans to sell non-core assets to help fund more upstream oil exploration.”: “Last month, Shell, the world’s third-largest oil company, unveiled plans for major disposals and new production in […]

Gazprom holding talks with Shell

Financial Times: Gazprom holding talks with Shell “Other than providing cash, strategic support, or a commitment to future capital investment, Gazprom could offer Shell access to other projects in Russia…” By Andrew Jack in Moscow Published: October 11 2004 Gazprom, the Russian state-backed gas monopoly, might take a significant equity stake in the Sakhalin 2 […]

Nigerian oil union strike threat grows

THE BUSINESS: Nigerian oil union strike threat grows “Nigeria’s oil unions will repeat last week’s two-day strike against Royal Dutch/Shell and extend it to the US firms Chevron/Texaco and ExxonMobil if talks with the company on Tuesday breakdown. Lumumba Okugba, deputy general secretary of white-collar oil union Pengassan said: The next one will be have […]

Surging oil price forces IMF to tear up growth forecasts

The Independent: Surging oil price forces IMF to tear up growth forecasts “Yesterday’s spike was triggered by Shell when it said Nigerian oil unions had begun an unexpected two-day strike at its facilities to protest against a reorganisation plan, but the company said output had not been affected.” By Philip Thornton Economics Correspondent Posted 9 […]

Oil prices touch high as Shell workers strike

Daily Telegraph: Oil prices touch high as Shell workers strike “Strikes by oil workers in Nigeria sent the price of crude above $49 a barrel in London for the first time yesterday. The members of two oil unions unexpectedly downed tools at Shell’s production facilities in a two-day protest against job cuts.” By Malcolm Moore, […]

Clean Up Sakhalin Oil Spill, Not Your Image, Campaigners tell Shell

FROM OUR SHELL NEWS ARCHIVE OCTOBER 2004 Friends of the Earth: Clean Up Sakhalin Oil Spill, Not Your Image, Campaigners tell Shell “The spill stretched along five kilometres of coast and left local residents ill. Environmentalists had previously criticised Shell for not having an effective spill response plan and were furious when their fears proved […]

Shell finds more oil in Brunei

AFX Europe (Focus): Shell finds more oil in Brunei “”We regard this as a very important discovery because there are up to 20 similar structures in this area. If this success is replicated we estimate total recoverable oil of up to 100 mln barrels from the whole of the Seria North Flank,” said Mark Carne, […]

Ageing and sickly, ex-Shell staff wait on court

FROM OUR SHELL NEWS ARCHIVE OCTOBER 2004 New Straits Times: Ageing and sickly, ex-Shell staff wait on court “Some have died. Others are losing their memory and many are ailing.”: “399 former employees of Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd engaged in a protracted legal battle with their ex-employers…” “claiming that they […]